Author: NBTC
With inflows into Bitcoin spot exchange-traded funds having continued for the fourth consecutive day, experts say that the rising Bitcoin dominance—along with record-high open interest and shrinking exchange reserves as indicators—could signal a potential bull run. Speaking to Decrypt, experts have highlighted that Bitcoin’s market dominance has surged to 58%, its highest level since April 2021, and underscores its growing strength. One big factor in the surge has been growing institutional interest. Bitcoin spot ETFs saw $458.5 million in net inflows on October 16, marking four consecutive days of positive flows. BlackRock’s (IBIT) ETF accounted for $393 million of the…
Ethereum, the second-largest cryptocurrency after Bitcoin, has experienced significant gains lately even as other digital assets retreat from the recent market rally. CoinaMarketCap’s data shows that the token is trading at $3,635, up 5% and 10% in the past day and week, respectively. This trend, coinciding with Donald Trump’s victory in the U.S. presidential election, has highlighted a growing appetite for risk assets and Ethereum’s potential to break key resistance levels. Amid the rise, the market is watching the next ETH price level of $4,000 with the current bullish technical indicators and strong fundamentals. Among the factors boosting ETH is…
Bitwise Asset Management unveiled a rebranding of its European XRP ETP, with blockchain firm Ripple backing the newly renamed product. Bitwise announced Wednesday that it’s rebranding its European XRP exchange-traded product as part of a broader update to its European product suite. In a press release on Nov. 27, the firm said the ETP is now called the Bitwise Physical XRP ETP (GXRP). At the same time, blockchain firm Ripple revealed it would be investing in the rebranded product, though the size of the deal remains undisclosed. Launched in 2022, the Bitwise Physical XRP ETP is a fully-backed, institutional-grade vehicle…
Solana (SOL) has experienced a remarkable 17% price surge over the past week, driven by substantial activity from large holders, commonly referred to as “whales.” On-chain data reveals that in the last three days, a fresh wallet has withdrawn 150,011 SOL tokens, equivalent to $26.25 million, from Binance. The whale then proceeded to stake these tokens, adding fuel to the growing market interest surrounding Solana’s blockchain ecosystem. The price of $SOL has increased by 17% in the past week!In the past 3 days, a fresh wallet withdrew 150,011 $SOL($26.25M) from #Binance and staked.https://t.co/rv6d81subg pic.twitter.com/xv0rdY4fcK — Lookonchain (@lookonchain) October 25, 2024…
Digital assets are gaining global traction, offering unique value and opportunities for trade and investment. Cryptocurrencies and gift cards are increasingly being used as income-generating digital assets. These digital assets have recorded significant growth over time, permeating into financial and e-commerce sectors and serving as a payment method for products and services. Going beyond the discourse of using digital assets as a payment option, people see crypto and gift card trading as one of the viable ways to make money in this digital age, and Africans are not behind in this. Notably, Africa is one of the fastest-growing crypto markets…
The last time the DXY index was above 103, it was during the Yen carry trade unwind back on Aug. 5 when bitcoin dropped to $49,000. Over 94% of the bitcoin circulating supply is now sitting in profit, historical data tell us profit-taking should start to build up. Bitcoin {BTC}}, the largest token by market cap, has surged 12% this week, likely setting the stage for a record high in the coming weeks. The expected progress toward new highs, however, may be slow due to profit-taking. That’s because data tracked by Glassnode show approximately 5% of the BTC circulating supply…
Ethereum (ETH) has experienced a price breakout in the weekly timeframe, comfortably trading above the $3,500 resistance as the decentralized finance (DeFi) asset targets the crucial $4,000 mark. The sustainability of this newfound momentum is of key interest to the general cryptocurrency market, as it is viewed as a precursor to the start of an altcoin season heading into 2025. Notably, as of press time, Ethereum was trading at $3,569, having rallied by over 1% in the last 24 hours. On the weekly chart, ETH is up almost 8%. As reported by Finbold, following the recent momentum, several analysts have…
Disclaimer: The analyst who wrote this piece owns shares of MicroStrategy (MSTR).Bitcoin (BTC) development company MicroStrategy (MSTR) has been one of stocks to watch in 2024. The company is up 416% year-to-date, up as much as 600% at one point last week. However, since the short report from Citron Research came out on Nov. 21, the stock has dropped almost 40%, subsequently burning retail in the process. This drop coincided with bitcoin dropping almost 10% to $90,000 from its all-time high of just shy of $100,000. According to a post on X by the Kobeissi Letter, which is an industry-leading…
Blockchain technology advancing as several new blockchain projects prepare to launch their tokens. These projects, supported by industry leaders, are expected to make significant waves. A crypto analytical platform shared the list of the top 7 crypto promising projects along with their anticipated tokens. Top 7 Promising Projects with Anticipated tokensWith evolving blockchain technology and @Bitcoin close to all-time high again, enormous amount of upcoming projects aim to reshape the global financial space. We compiled a list of highly anticipated projects, that should enter… pic.twitter.com/DvfpeLXEWd — TOP 7 ICO | #StandWithUkraine🇺🇦 (@top7ico) October 25, 2024 Blockchain Advances in Gaming, AI…
The Japanese Financial Services Agency (FSA) has issued warnings to five unregistered cryptocurrency exchanges for operating without proper authorization. The companies who have been issued warnings include KuCoin, bitcastle LLC, Bybit Fintech Limited, MEXC Global, and Bitget Limited. According to the report by CoinPost, these exchanges have been accused of violating Japan’s regulation guidelines on cryptocurrency trading. Regulatory Compliance in Question The main concern that was raised by the Japanese FSA is that these exchanges were not registered as the per the requirement. The Japanese regulatory framework aims to ensure consumer protection, prevent fraud, and maintain market integrity. The exchanges…