Author: NBTC
Bitcoin options show expectations for pre-halving price weakness and a bullish bias following the pivotal quadrennial event. The long-term outlook depends more on macro factors than halving, analysts said. Options market shows expectations for a price rally into six figures by December. The bitcoin (BTC) options market, historically a reliable indicator of sentiment, is showing investors expect weakness in the run-up to the mining-reward halving due April 20 followed by a rally after the event, which reduces the pace of new bitcoin creation by cutting the per-block coin emission to 3.125 BTC from 6.25 BTC. The world’s largest cryptocurrency by…
Metaplex, a Solana-based protocol that allows for the easy deployment of NFTs across applications, has introduced MPL-404, a hybrid decentralized finance standard. MPL-404 leans on SPL-404, a protocol that allows for the exchange of an NFT for a fixed number of tokens assigned by the designers of each artistic collection. Metaplex Aims to Extend Hybrid Defi Adoption in Solana Metaplex, a protocol that eases the distribution and deployment of non-fungible tokens (NFTs) on top of the Solana blockchain, has announced the introduction of Metaplex Program Library 404 (MPL-404). MPL-404 is a protocol that brings the hybrid functionality pioneered by the…
Ark Invest made an investment decision to sell off Robinhood Markets Inc. shares. The decision came after Robinhood launched a new cryptocurrency trading API. Ark Invest sold 1,178,058, totaling $25.7 million since Robinhood shares closed at $21.84. Cathie Wood’s Ark Invest sold shares from three different funds. The investment firm sold 857,676 shares from the ARK Innovation ETF, 113,102 shares from the Ark Fintech Innovation ETF, and an additional 207,276 shares from the ARK Next Generation Internet ETF. Also Read: Crypto Markets Brace for Volatility as Billions in Bitcoin and Ether Options Expire In total, Cathie Wood’s Ark Invest sold…
Dog-themed cryptocurrency Shiba Inu (SHIB) has seen a significant 61.39% increase in large transaction volume, which is usually suggestive of whale activity. Large transaction volume is a crucial measure from IntoTheBlock that indicates the total amount transacted by whales on a particular day. Spikes in large transaction volumes point to high activity among whales, either buying or selling. In recent days, there has been a decrease in the volume of large transactions for SHIB that exceed $100,000. SHIB reported a considerable reduction in large transaction volume, falling from 6.36 trillion SHIB on April 19 to 2.06 trillion SHIB on April…
Bitcoin has smashed past the $70,000, after the release of the Consumer Price Index (CPI) report signaling surge of inflation in the United States. Previously, many investors somewhat predicted the $70,000 price surge, despite the prior dip to $67,000. The main contributing factor to this surge are high inflation rates, which have positioned Bitcoin as a potential hedge against the diminishing purchasing power of traditional currencies. Additionally, there’s been a noticeable boost in the performance of stocks and other alternative assets, as investors are redistributing resources to protect their portfolios from inflation. In the past, Bitcoin has been considered a…
Stablecoins surpassed $846 billion in on-chain trading volume, according to on-chain data platform IntoTheBlock. Despite a 30% drop in monthly trading volume and the total stablecoin supply remaining $20 billion below its peak, the market demonstrates robust activity. Additionally, IntoTheBlock’s “On-chain Insights” newsletter highlights that stablecoins are increasingly recognized for their potential to cut the hefty fees of international remittance, mentioning a Coinbase study that underscored how Americans pay nearly $12 billion annually to send money abroad. Stablecoins on-chain monthly trading volume. Image: IntoTheBlock The newsletter also pointed out PayPal’s PyUSD emerging as a key player, with a market cap…
Layer-1 blockchains are foundational networks supporting various applications directly on their protocol, while Layer-2 blockchains operate atop these foundational layers, enhancing scalability and efficiency. Comparing the usage and efficiency of EVM-compatible L1 and L2 blockchains and side chains helps us better understand the market values and where most of the DeFi activity comes from. Dune Analytics data analyzed by CryptoSlate showed Polygon, a Layer-2 sidechain, was the leading figure in the DeFi ecosystem, closely followed by BNB Chain, an EVM-compatible Layer-1 blockchain. One of the most important metrics when analyzing L1s and L2s is the daily gas usage—the computational effort…
Amid stark warnings of an ‘everything crash’ and recommendations for safe-haven assets, an influential investor and famous author of the best-selling personal finance book ‘Rich Dad Poor Dad,’ Robert Kiyosaki agrees with one extremely bullish Bitcoin (BTC) forecast. Specifically, he has recently shared the prognosis by Cathie Wood, the founder and CEO of ARK Invest, which manages several exchange-traded funds (ETFs), who previously said that Bitcoin could hit a staggering $2.3 million per wholecoin, with which Kiyosaki has agreed in an X post he shared on April 11. Indeed, this prognosis happens to be a lot more bullish than Kiyosaki’s…
StorageHub, a Polkadot parachain, is joining the decentralized data storage revolution, promoting efficiency and network accessibility through decentralized storage solutions. The network would be designed to serve as a public goods parachain, prioritizing larger data sets and file-based storage while upholding decentralization principles. Web3 Foundation, developers of Polkadot, said: “The essence of StorageHub lies in its ability to offer an efficient, decentralized storage option for web3 applications, enabling the storage of large files and data sets without compromising on decentralization principles.” StorageHub development The network would be designed to seamlessly integrate with all Polkadot and Kusama parachains while enabling interoperability…
As revealed thanks to data from Whale Alert, an unknown whale sent 4,535 BTC, equivalent to $322.14 million, to the largest crypto exchange in the United States, Coinbase, today. What adds even more color to this transfer is that it was made on Coinbase Institutional. That is Coinbase’s business and financial institutions division, providing them with a full range of services for storing, buying and selling digital assets. What is known about the sender? The address “147t6” is a relatively new player on the crypto scene. The first transactions with this address date back only two days earlier, when they…