Author: NBTC
Whale Alert, a cryptocurrency tracking service, an ancient Ethereum pre-mine address containing 100 ETH, valued at approximately $262,757, has been activated. Prior to that, it had been lying dormant for 8.5 years. A series of awakening giants This recent awakening is not an isolated event. Over the past few months, several dormant Ethereum addresses have sprung to life, moving substantial amounts of ETH and causing ripples across the crypto landscape. Notably, on Feb. 4, an address containing 100 ETH worth $230,159 was activated after 8.5 years. Similarly, addresses with 492 ETH ($1.1 million), 133 ETH ($329,492), and 200 ETH ($506,140)…
Crypto-friendly fast food chains could see a serious downturn in the future. January inflation numbers in the US showed that inflation is rising in the country creating issues with raw materials and the labor market. In an environment of expensive raw materials, fast food chains are likely to face issues with lower profit, slower footfall of customers, and higher labor costs. America sees the cost of eating out rise in January According to a Yahoo Finance report, there will be a greater hesitation among Americans to accept an elegant dinner invitation to the town. The most recent inflation statistics from…
The decentralized autonomous ecosystem (DAO) API3 has been moving through a successful track, currently boasting 6813 members. According to the API3 DAO Tracker, the ecosystem has successfully completed 84 proposals. In a recent X post, Chinese crypto reporter Colin Wu, on his Wu Blockchain page, shared insights on the remarkable journey of API3 DAO. His post highlighted API3’s active members, completed proposals, Epoch rewards, and the annualized yield. According to API3 DAO Tracker data, API3 DAO currently has 6,813 members and has completed 84 proposals. In the current Epoch 2825, the annualized yield of API3 staking is 21.5%, and the…
Bitcoin is currently experiencing a retracement after rising to as high as $53,000 on February 20. This recent dip has, however, not deterred Bitcoin whales, with these investors rather seeing it as an opportunity to accumulate more of the flagship crypto token. Inflows To Accumulation Addresses Hit All-Time High Ki Young Ju, the founder and CEO of the on-chain analytics platform Crypto Quant, revealed in an X (formerly Twitter) post that inflows into accumulation addresses have reached an all-time high (ATH) of 25,300 BTC. Young then highlighted the significance of this occurrence as he elaborated on what accumulation addresses are. …
10X Research speculates that Bitcoin (BTC) could record an average gain of 32% on or before the highly anticipated Bitcoin halving event. Bitcoin has shown a stellar performance in 2024, with a year-to-date (YTD) surge of 23.8%. The top asset also breached the $50,000 resistance for the first time since 2021. Bitcoin to Continue Its Rally While there is a likelihood that Bitcoin could experience a brief pullback in price at any moment, digital asset research company 10X Research speculates that the ongoing rally could continue. It bears mentioning that the upcoming halving is slated to go live on April…
Crypto analyst Miles Deutscher expects the 2024 decentralized finance Ponzi narratives won’t reoccur despite the rise of the restaking industry. He adds, however, that the EigenLayer airdrop, which is the largest drop In 2024, may cause the yield-hunting frenzy of previous DeFi Ponzi schemes. Aside from the restaking narrative, Deutscher is betting on artificial intelligence, BRC-20, real-world asset tokenization, gaming NFTs, and decentralized infrastructure projects as the most lucrative narratives to watch. EigenLayer Pulls $2B in Restaking Volume Deutscher said projects like EigenLayer encourage crypto staking on multiple blockchains, making staking coins more capital-efficient. The user can secure multiple blockchains…
Access Protocol’s native token ACS soared by over 50% within 24 hours after the project revealed new use cases for collateral non-fungible tokens (cNFTs). Access Protocol, a Solana-based protocol aiming to create a new way content creators can earn money, has introduced two new use cases for collateral non-fungible tokens in its latest version. The first improvement is that cNFTs can now be wrapped using Access Protocol’s native token ACS, enabling new possibilities for content distribution and monetization. Access v2 introduces two brand new use cases to NFTs1⃣ $ACS wrapped cNFTs 2⃣Reward bearing cNFTs This introduces a new level of…
Ethereum traders are spotting what might be a harbinger of stormy weather ahead. A technical analysis of the ETH chart reveals the potential formation of a double top pattern, a classic bearish reversal indicator that could send Ethereum’s price diving deep once more. The double top pattern is characterized by two consecutive peaks at approximately the same price level, separated by a moderate trough. This pattern suggests that the bullish momentum is waning, and the bears may be ready to take control. For Ethereum, the stakes are high as it approaches a critical resistance level set on Jan. 12. The…
CoinShares, Europe’s largest cryptocurrency investment firm, recorded approximately $42 million USD profit in Q4 2023. The firm highlighted “securitisation” of crypto and real-world asset tokenization in its long-term strategy. CoinShares Experience Profit, After Challenging 2022 In a recent report, CoinShares states that it has begun experiencing growth again after a challenging 2022. “We continued to execute our strategy and delivered combined revenue, gains and income of £33.3 million in Q4. Our focus on profitability has led to adjusted EBITDA of £25.7 million for the quarter, at a margin of 77%.” The firm further explained its intention to expand services across…
Bitcoin experienced a tumultuous day yesterday, with its price briefly touching $53,000 before plummeting to a low of $50,820. Amid this price volatility, an unexpected phenomenon caught the eye of market analysts: a dramatic surge in trading volumes for certain Bitcoin ETFs. Bloomberg’s Eric Balchunas provided a detailed account of this anomaly on X, particularly focusing on the VanEck Bitcoin ETF (HODL) and its astonishing increase in trading volume. He remarked, “HODL is going wild today with $258m in volume already, a 14x jump over its daily average, and it’s not one big investor… but rather 32,000 individual trades, which…