Author: NBTC
U.S. economic growth slowed more than expected in the first quarter, but the quarterly Personal Consumption Expenditure inflation component was surprisingly high, suggesting the Fed will not cut interest rates before September. US Q1 GDP Shows Surprising Slowdown and Disturbing Inflation Gross domestic product rose at an annual rate of 1.6% last quarter, the Commerce Department said in its preliminary estimate today. Economists surveyed by Reuters had predicted that GDP, which grew by 3.4% in the fourth quarter, would increase by 2.4%. The economy has defied doomsday scenarios since late 2022 following the Fed’s aggressive interest rate hike campaign to…
Binance, the leading blockchain ecosystem and the world’s largest cryptocurrency exchange by trading volume, has unveiled its highly anticipated spot copy trading strategy tool. Initially, this feature is available to experienced users who meet specific portfolio asset size requirements and is expected to be fully accessible to all users by May 2024. Recent data from the March Exchange Report by crypto data provider CCData reveals an impressive 121% month-on-month surge in Binance’s spot volume, reaching $1.12 trillion. Furthermore, Binance’s market share of spot volume for March stood at an impressive 45%. This substantial growth underscores Binance’s dominant position in the…
Bitcoin has undergone its latest halving event, reducing the block reward from 6.26 to 3.125 , which cuts the daily issuance of Bitcoin to 450 BTC. This significant reduction in supply is a scheduled part of Bitcoin’s deflationary monetary policy, designed to curb inflation by halving block rewards approximately every four years. The spike in transaction fees was short-lived. As the hype around RUNES protocol settled, fees normalized, bringing miner revenues down to about $50M. pic.twitter.com/pxd5ylob7X — CryptoQuant.com (@cryptoquant_com) April 25, 2024 Following the halving, Bitcoin miners initially saw a dramatic increase in their revenues, reaching up to $100 million…
Kyle du Plessis, a renowned cryptocurrency analyst, stated that Bitcoin is entering a significant phase of a parabolic move. In a recently uploaded video, Plessis identified the surging nature of BTC as a development that could trigger the next phase of the bull market across several cryptocurrencies. BTC surged past $70,000 after recovering from a dip to the $59,000 region. According to Plessis, the recovery is significant for the flagship crypto and has introduced the fourth phase of its parabolic move. He claimed that there would be “mega short-squeezes” from this level, and the Bitcoin price would rally aggressively. Meanwhile,…
Binance, the world’s largest cryptocurrency exchange, has unveiled an enticing opportunity for traders seeking to dive into the world of meme tokens. In a recent announcement, Binance revealed a promotion aimed at users who have not engaged in trading on Binance Spot within the last 90 days. The promotion offers a chance to claim a share of 10,000 FDUSD in token vouchers. For both regular and premium users, participation in this promotion could prove highly rewarding. The mechanics are straightforward: the first 2,000 eligible users who confirm their involvement and execute trades totaling at least $100 equivalent on select spot…
As Bitcoin (BTC) continues to shatter records, reaching new all-time highs—most recently hitting $72,000 when writing—many traders and investors are reconsidering their choices to explore other investments or withdraw from the leading cryptocurrency. However, Elon Musk might be feeling the sting of regret, particularly in light of his decision to purchase X (formerly Twitter) instead of investing in BTC. At the time of Twitter’s acquisition, Bitcoin was valued at $20,268 per coin. How much would Elon Musk have if he invested in Bitcoin? This indicates that if Musk had chosen to invest his $44 billion in Bitcoin instead, his investment…
Enabling Seamless Web3 Interactions TL;DR:The launch of Bloom Wallet, built by Bloom Labs and rooted in the IOTA Foundation, is a significant development in Web3 interactions. Having undergone a security audit, it offers compatibility with Ledger Nano hardware wallets and will support IOTA EVM. It enables seamless transfers between Layer 2 chains and is backed by investments and collaboration with industry leaders. We’re extending our congratulations to Web3 wallet startup Bloom Labs on the launch of Bloom, its secure wallet hub for trading tokens and NFTs, discovering new dApps, and optimizing DeFi investments. This is a significant step forward for…
Nubank, Brazil’s largest digital bank, is at the center of crypto news making headlines in the Latin America region today. On Tuesday, Nubank told its customers that they can now withdraw their crypto assets using the bank’s app. Specifically, the digital bank has added support for deposits and withdrawals for three major cryptocurrencies – Bitcoin (BTC), Ethereum (ETH) and Solana (SOL). Nubank plans to expand the feature that allows customers to send and receive BTC, ETH and SOL from within their Nubank app to other coins in due course, according to details shared on Tuesday. Bitcoin Magazine highlighted the news…
Peter Schiff has issued a stark warning to billionaire investor Bill Ackman regarding his potential venture into Bitcoin, countering assertions made by MicroStrategy CEO Michael Saylor. In a recent exchange on social media, Ackman expressed his contemplation over investing in Bitcoin, citing concerns about its potential impact on energy prices and inflation. Saylor swiftly responded, encouraging Ackman to consider Bitcoin as an investment opportunity, emphasizing the role of Bitcoin miners in driving down electricity costs for consumers. However, Schiff, known for his skepticism toward Bitcoin, cautioned Ackman against purchasing the cryptocurrency, drawing parallels to Ackman’s previous misstep with Herbalife. Schiff…
During the first quarter of 2024, the crypto market showcased a dynamic performance across various narratives, with meme coins, real-world assets, and AI tokens leading in profitability. Narratives are specific sectors within the crypto industry that use a distinct coin and are broken down to show how crypto can be operated differently. According to data from CoinGecko, meme coins saw an astonishing average return of 1,312% across the platform’s top tokens. The performance was highlighted by the remarkable success of new entrants such as Brett (BRETT), BOOK OF MEME (BOME), and cat in a dogs world (MEW), which launched around…