Author: NBTC
Bitcoin’s (BTC) historic rally above $100,000 hit a roadblock on Dec. 5 as the flagship crypto fell back into five-figure territory, leaving a trail of liquidations across the market. BTC gave up almost all of the 24-hour gains that took it to a new all-time high of $103,679. It fell to a low of roughly $90,300 for the day before attempting a recovery. Bitcoin was trading at $95,500 as of press time amid heavy volatility, based on CryptoSlate data. Liquidations Roughly $885.61 million in leveraged positions were liquidated in the past 24 hours, impacting 202,956 traders worldwide. Bitcoin accounted for…
With Ethereum prices suddenly dropping below $3,900, bearish sentiment targets a breakdown under the $3,700 mark. Unable to maintain levels above $4,000, Ethereum has taken a bearish turn as Bitcoin falls below $104k. Breaking below the $3,900 threshold, Ethereum has formed a second consecutive bearish candle, signaling the potential for a significant correction ahead. As the price approaches the support trendline, bullish dominance at lower levels is at risk. Could this correction lead to a major crash for Ethereum? Ethereum Price Analysis After a double-top reversal at the key $4,000 resistance level, Ethereum’s price has dropped by 4.41% over the…
Plume, a blockchain network focused on real-world assets, raked in $20 million in fresh funds in a Series A fundraising round, the platform told CoinDesk on Wednesday. Investors participating in the round included Brevan Howard Digital, Haun Ventures, Galaxy Ventures, Lightspeed Faction, Superscrypt, Hashkey, Nomura’s crypto arm Laser Digital, A Capital, 280 Capital, SV Angel, Reciprocal Ventures and others. The fresh investment round followed a $10 million seed fundraising in May led by Haun. With the investment, the team plans to speed up the development of its own layer 1 blockchain. Plume’s mainnet launch is slated for early next year,…
After amassing more than 50 billion social media views and placing toys on shelves in Walmart and Target stores across the country, Ethereum NFT project Pudgy Penguins is launching a token. The news sent the Pudgy Penguins floor price skyward, breaching $100,000 and becoming the second largest profile picture (PFP) project in all of NFTs. “A founder’s job in crypto is to maximize for optimal excitement,” said Pudgy Penguins IP owner Luca Netz in a video interview with crypto personality ThreadGuy. While excitement swirls around the Pudgy Penguin ecosystem, find out everything you need to know about its upcoming token…
Months after coming in and out of courtrooms, Roman Storm, the co-founder of Tornado Cash, told a federal judge in the US that his criminal charges should be dropped. This is after an appeals court said that the platform’s smart contracts should not have been punished. Roman Storm said that the Treasury’s Office of Foreign Assets Control (OFAC) went beyond its authority when it sanctioned Tornado Cash’s smart contracts. He also added that the court’s decision “clearly affects” his charge of conspiring to break the International Emergency Economic Powers Act (IEEPA), which is a key law in the US sanctions…
Economist Nouriel Roubini, CEO of Roubini Macro Associates and portfolio manager of Atlas America Fund, reiterated his skepticism towards Bitcoin, calling it a “speculative asset” and dismissing its potential as a legitimate currency or hedge against inflation. Speaking about the recent surge in Bitcoin prices, Roubini noted Bitcoin’s inherent volatility and lack of fundamental utility as a medium of exchange. Roubini criticized Bitcoin and other cryptocurrencies for failing to meet the basic requirements of a currency. He argued that Bitcoin is neither a scalable means of payment nor a stable store of value. “Bitcoin is not an economic unit of…
The BlackRock iShares Ethereum Trust ETF (ETHA) crosses a major milestone in its Ethereum holdings amid an impressive surge in institutional interest. 2024 has arguably been the year of institutional adoption for crypto as newly launched U.S. spot Bitcoin and Ethereum ETFs have funneled billions into the market. As the year ends, this capital influx shows no signs of slowing. In the latest instance highlighting this surge in institutional interest, one of these newly launched products has hit a new milestone. BlackRock Ethereum ETF Hits 1M ETH BlackRock’s Ethereum ETF (ETHA) has hit a new milestone. As highlighted by blockchain…
Shareholders did not respond well after Japanese investment firm Metaplanet announced the addition of its Bitcoin Treasury Operations as a new core business line. Building on months of preparation and shareholder approvals, the company is doubling down on Bitcoin (BTC) as both a financial asset and revenue driver as the world’s largest crypto soars to new peaks. Just yesterday, Bitcoin set a new all-time high above $108,000. Despite the ambitious announcement, Metaplanet’s stock, which trades under the 3350 ticker on the Tokyo Stock Exchange, fell by 13.73% on Tuesday and closed at $22.90 (3,520 JPY), according to Google Finance data.…
Grayscale Investments has officially opened the Grayscale Chainlink Trust (LINK Trust) to qualified investors, providing exposure to Chainlink (LINK) through a regulated security structure. This move will allow investors to own LINK indirectly, bypassing the complexities of purchasing, storing, and managing the token directly. As of December 12, 2024, Grayscale LINK Trust reported net asset value per share of $111.91 and assets under management (AUM) of $30,468,812. According to Grayscale’s website, the Chainlink Trust represents one of the first securities to invest specifically and passively in LINK. Shares of the trust are structured to track the market price of LINK,…
The new EU crypto regulations, set to take effect at the end of the year, are already reshaping the market for digital tokens, especially stablecoins like Tether’s USDT. Many crypto exchanges in the EU have delisted the dominant stablecoin USDT to comply with the MiCA. While the regulations aim to improve oversight and prevent crimes like money laundering, crypto experts warn that they might reduce market activity without fully achieving these goals. Could MiCA Hamper Market Liquidity? Crypto executives warn that the MiCA regulations may reduce market liquidity without meeting their intended goals, potentially making the EU less attractive to…