Author: NBTC
Mantle Network, an Ethereum layer 2 solution, has adopted Chainlink’s Cross-Chain Interoperability Protocol (CCIP) to bolster its cross-chain capabilities, aiming to provide developers with a secure and reliable infrastructure to build dApps across multiple blockchains. CCIP promotes seamless and trustless transfer of data and value across various blockchain networks, allowing Mantle to connect with multiple blockchains efficiently. Interoperability is crucial for expanding the reach of dApps and enhancing user access to a broader range of services and liquidity. The integration allows builders to “create cutting-edge cross-chain applications and better advance the blockchain industry,” said Johann Eid, Chief Business Officer at…
The expected rise of Bitcoin toward the $70,000 price mark has slowed, influenced by a surge in social media chatter. According to data from Santiment, Bitcoin was on a promising trajectory but hit a roadblock after a spike in bullish sentiment from the crowd earlier this week. The sentiment-driven rally encountered resistance as market dynamics responded to the increased chatter about Bitcoin potentially reaching $70,000. The data from Santiment indicates that social media mentions of Bitcoin in the $50K to $59K range have frequently correlated with market bottoms. Conversely, mentions in the $70K to $79K range have often coincided with…
The long-awaited idea of a major economic stimulus from China has been refuted, according to Shehzad Qazi, Chief Operating Officer of China Beige Book. Speaking on CNBC’s Squawk Box, Qazi shared his views on China’s economic trajectory, the effects of former US President Donald Trump’s tariff threats and Beijing’s cautious fiscal approach, as outlined in the firm’s November report. The China Beige Book report shows year-over-year growth in revenue and profits for factories, particularly those that benefited from a preemptive surge in export orders ahead of potential U.S. tariffs. “Export orders have risen to levels not seen since COVID as…
South Korea’s largest cryptocurrency exchange Upbit, which has skyrocketed the price of the altcoins it listed, is also being wondered by investors about which altcoins it will list. At this point, crypto analysis platform DeSpread has listed four altcoins that Upbit could list, according to data. Accordingly, DeSpread announced the altcoin projects that were included in this year’s UDC event hosted by Upbit’s parent company Dunamu but have not yet made it to the full list. These altcoins include Axelar, Cyber, IoTeX, and Magic Eden, which suggests that there is a high probability of listing for these four altcoins in…
Analysts are warning of a potential Bitcoin price correction as open interest in futures markets climbs to new highs for 2024, while trading volumes remain subdued. Experts have suggested that the imbalance between rising leverage and declining activity could create conditions for sudden price reversals if traders begin closing long positions. “Open interest has reached a new peak for the year, and funding rates are at their highest since June,” Illia Otychenko, Lead Analyst at CEX.IO told Decrypt. “But the troubling part is the downtrend in volume. This means fewer traders are actively participating, but those that remain are heavily…
The Central Bank of Bolivia shared numbers that show the country’s crypto activity is overheating. According to the institution’s data, purchase and sales operations for crypto assets grew over 100% after the bank lifted a blanket ban on crypto operations earlier this year. Bolivia Heats up With Crypto Adoption, Over 252,000 Hold Digital Assets Bolivia, one of the smallest economies in Latam, is growing its crypto adoption levels. In a press release shared on November 25, the Central Bank of Bolivia highlighted this rise in crypto activity, stating that it has “dynamized the national payment system.” Data from the central…
A cryptocurrency trader’s bet on the newly created ANT by Claude (ANT) meme coin ended in capitulation, with the investor losing close to $500,000 in less than an hour. The transaction involving Solana (SOL) was recorded on the Raydium automated market maker (AMM) platform, specifically on the ANT/SOL trading pair. In this transaction, the trader spent 3,396 SOL, roughly $587,000, to acquire 14.7 million ANT tokens. However, 40 minutes later, the same trader offloaded the entire position for only 773 SOL, worth roughly $134,000, according to data retrieved by Finbold from on-chain analysis platform Lookonchain on Thursday, October 24. This…
With a net inflow of 7,494 BTC, or roughly $490 million, in just one day as of Oct. 15, 2024, Bitcoin ETFs have experienced a sharp increase in activity. A total of 3,627 BTC, or about $237 million, was deposited into Fidelity, one of the biggest holders of Bitcoin ETFs. With an impressive 183,695 BTC valuation, or $12.02 billion, Fidelity now owns a significant amount of Bitcoin. A total of 2,485 ETH, or roughly $6.38 million, went into Ethereum ETFs on the Ethereum side. Leading the pack was the iShares Ethereum Trust, which added 5,453 ETH valued at $14.01 million,…
Last month, the amount of ether locked in liquid staking platforms surpassed 14 million, but over the past 33 days, it dipped by 230,000 ether to 13.85 million. Rocket Pool Hit Hard: Massive Outflows Highlight Liquid Staking Shakeup Liquid staking, a favored decentralized finance (defi) method, has protocols holding the largest total value in defi today. On Oct. 28, 2024—33 days ago—liquid staking ether protocols collectively held 14.08 million ETH. That figure has since fallen to 13.85 million, marking an outflow of 230,000 ETH, valued at $844 million at current rates. Currently, the combined value of ether locked in these…
This is a segment from the Forward Guidance newsletter. To read full editions, subscribe. The transatlantic trade-dependent Euro Area is prepping for Donald Trump’s second term and the return of higher tariffs. US tariffs may lower Euro Area GDP by 0.4%, the Institute of International Finance (IIF) estimated in a Monday note. With many European countries yet to fully recover from the pandemic and increased competition from China, renewed tariffs could lead to a “substantial economic hit,” the report adds. Among the countries most likely to be impacted are Germany, France and Italy. Machinery and industrial goods exports from Italy…