Author: NBTC

Ethereum price retreated for three straight weeks even after the Securities and Exchange Commission (SEC) approved spot ETH ETFs. It bottomed at $2,118 this week as Bitcoin, altcoins, and stocks plunged. Why ETH has crashed Ethereum has also lost momentum after Jump Trading continued dumping its tokens. Recent data by Arkham has shown that Jump’s assets dropped sharply in the past few weeks and now stand at over $368 million. Jump now holds Ether tokens worth over $20 million. At the same time, Ether has underperformed because of the weak inflows in its Ethereum ETFs. Data by DeFi Llama shows…

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A mysterious high-stakes wager on long-term government debt placed back in June has been revealed to have been made by Northwestern Mutual Wealth Management. The $2.7 billion bet on BlackRock’s 20+ Year Treasury Bond ETF (TLT) sent shockwaves through the bond market, prompting speculation about a looming economic downturn. According to Bloomberg Brent Schutte, the firm’s chief investment officer, confirmed the massive purchase, asserting that it was a strategic move in anticipation of a recession that could be triggered by a cooling labor market. With the recent rally in Treasuries, the bet appears to be paying off early for the…

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The X account of the Shibburn tracking platform has addressed the SHIB community, citing recent comments made by SHIB fans under a post by Richard Teng, the chief executive officer of Binance. In those comments, SHIB army members asked the Binance boss to start burning Shiba Inu tokens. Imagine @Binance burning from the $SHIB trading fees just like they do for LUNC. Could it happen? 🤔 https://t.co/am2EMIQMU4 — Shibburn (@shibburn) July 9, 2024 Richard Teng faces SHIB burn requests Several SHIB fans and activists addressed Teng under his tweet dedicated to spot Bitcoin ETFs and overall high interest in Bitcoin,…

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As Bitcoin (BTC) continues to range in a more-or-less uninteresting trend, well below its previously attained all-time high (ATH) of $73,738 from March 14 this year, machine learning and artificial intelligence (AI) algorithms are pessimistic regarding its price performance in the near future. Indeed, Bitcoin’s price action has slowed down in the past several weeks, dropping to the area around $65,000 and consolidating there, only recently returning above the $66,000 mark and providing a trigger for the rest of the market to record modest gains. Bitcoin price prediction In terms of its future performance, Bitcoin will continue to decline in…

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The price of Ethereum (ETH) has started a move below the moving average lines. The bulls bought the dips after stopping the decline above the $2,200 support. Long-term analysis of the Ethereum price: bearish Ether price is fluctuating between $2,200 and $2,800. The upside is uncertain as Ether faces rejection at the high of $2,600. Moreover, the price indication predicts that the cryptocurrency will continue to decline. Ether is in a downtrend and if it falls below the support level of $2,400, the bears will try to push it back to the previous level of $2,116. However, if the $2,116…

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The National Bank of Cambodia (NBC) has recorded wins in its campaign against the dollarization of the local economy using Bakong, its version of a central bank digital currency (CBDC). Since the Southeast Asian country returned to civilian rule, the U.S. dollar has played a role in payments, accounting for a significant chunk of local transactions. While relying on the U.S. dollar for stability, Cambodia’s economy became prone to external shocks as NBC lost control over monetary policy. The NBC rolled out Bakong to operate as a digital currency payment system, with experts describing the offering as a CBDC. Launched…

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The Shibarium network, a key component of the Shiba Inu ecosystem, has recently witnessed an eye-catching surge in transaction fees. Over the past five days, the average amount spent on Shibarium transactions has increased from 0.0026 BONE on July 5 to 0.014 BONE by July 10. This data is from Shibariumscan. BONE, another native token of Shiba Inu, plays a major role in the ecosystem’s blockchain by covering transaction fees, thereby contributing to the burning of SHIB tokens. This process results in a reduction of the total supply of SHIB, which directly affects its scarcity, inflation and price. Worryingly, despite…

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Bitcoin price tumbled below the $64,050 on June 18 2024, as bears forced the month-long BTC downtrend to a 35-day bottom, but the current dynamics in the derivatives markets signal bullish resilience among traders. Bitcoin Price Dives to 35-Day Low After a promising start to the month, Bitcoin price retested the $71,900 mark on June 6. But since the overheated labor market data release by the US authorities on June 7 which signalling unrelenting inflation, BTC has succumbed to bearish pressure. On June 18, the Bitcoin downtrend reached a record low unseen in over 30 days, dating back to May…

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Ethereum generated $2.7 billion in costs, preceding the blockchain industry in 2024. Validator withdrawals of 143,000 ETH could impact market dynamics soon. Ethereum’s burning mechanism reduces supply as demand increases, strengthening its market position. Ethereum’s Revenue and Market Activity Ethereum’s strong revenue generation reflects its solid market position. The network’s success comes from its wide ecosystem, which includes many software applications and active users. Ethereum’s ability to generate high fees shows its durability and flexibility in the changing blockchain landscape. This performance shows a clear preference among developers and users for Ethereum over other platforms. Moreover, Ethereum’s fee revenue is…

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In the first 12 days of Aug., $141.3 million has flowed into crypto, defi, and blockchain ventures, according to recent metrics. Morpho, a decentralized lending developer, accounted for roughly 35.38% of the total funds raised across 20 different projects. $141.3 Million Floods Into 20 Crypto Startups and Projects Even with the crypto markets experiencing a downturn, venture capital continues to pour in, amounting to $141.3 million so far across 20 different startups. Morpho led the pack, raising $50 million in a funding round spearheaded by Ribbit Capital, with Brevan Howard, Kraken Ventures, A16z Crypto, Coinbase Ventures, and Pantera Capital also…

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