Author: NBTC

Short-term holder wallets are in the red and may liquidate near their breakeven level at $65,000. Long-term holder wallets, with average cost of less than $20,000, are incentivized to hold or boost their coin stash. As bitcoin (BTC) looks to recover from the July loss, new challenges loom, with onchain data suggesting a potential resistance at $65,000. The leading cryptocurrency by market value traded nearly 1% higher at $63,200 as of writing, looking to regain some poise after ending June with a 7% loss. June’s drop, which reversed May’s upswing, mainly occurred due to miner selling and concerns that ETF…

Compound Protocol is considering a major shift in its revenue distribution following a recent governance fiasco. The protocol plans to introduce a fee switch that will allocate 30% of protocol reserves to staked COMP token holders through a new product called stCOMP. The proposal, led by Compound head of growth Bryan Colligan, aims to enhance the financial utility and attractiveness of COMP tokens by providing yield-bearing opportunities.Like all DeFi lending protocols, Compound’s revenues are generated from fees charged to loan borrowers. A portion of these fee revenues are typically paid to liquidity providers to incentivize protocol liquidity. However, COMP token…

Polkadot 2.0 is a catch-all term for a new vision for the future of the Polkadot network. Polkadot founder Gavin Wood hopes that Polkadot 2.0 will represent an “agile, ubiquitous, compute resource” once introduced. What is Polkadot 2.0? Although it sounds like a technical upgrade, Polkadot 2.0 doesn’t refer to one specific event. Instead, it’s a collection of changes that will radically alter what the blockchain is capable of. At a top level, Wood has used the metaphor of a pancake business to explain the transition to Polkadot 2.0. Imagine a company that exclusively sells pancakes; the company produces its…

Mempool’s new accelerator service speeds up Bitcoin transactions by paying extra fees, requiring no registration. Five mining pool partners, representing 40% of global hashrate, support Mempool Accelerator, ensuring higher transaction priority. Mempool Accelerator provides transparency with public bid boosts and prevents misuse like transaction pinning without altering original transactions. Mempool has introduced a new off-chain service to speed up Bitcoin transactions. Named Mempool Accelerator, this service helps users expedite unconfirmed transactions by paying an extra fee. Users can locate their transaction on mempool.space, select the acceleration option, and pay via Bitcoin through Lightning Network or fiat using Cash App, Apple…

Bitcoin could be in for a rocky start this month as traders look to divine U.S. economic activity amid a climate of persistent inflation and a stock market rally fuelled by Big Tech. US real gross domestic product (GDP) jumped to an annual rate of 1.4% in the first quarter of 2024, according to the third estimate released by the Bureau of Economic Analysis. Thursday’s figures contrast sharply with last year’s fourth-quarter results, which showed US economic activity had increased by 3.4%. Data from the bureau also showed May’s personal consumption expenditures index, a key indicator of inflation, had dipped…

Decentralized finance protocol Aave is seeing a significant spike in whale activity as the market looks to bounce from the recent dump that pushed most altcoins to key support areas earlier this week. On July 31, Lookonchain shared details indicating whales had aggressively accumulated Aave (AAVE) over the past two days. According to the data, whales withdrew over 58,848 AAVE worth $6.47 million from exchanges during this period. In one instance, the whale address 0x9af4 withdrew 11,185 AAVE worth $1.23 million from Binance. Meanwhile, another address moved 21,619 AAVE worth over $2.38 million from the exchange and deposited the tokens…

July 29 (Reuters) – Shares of New York-listed cryptocurrency firms gained before the open on Monday after Republican presidential candidate Donald Trump talked up bitcoin and promised friendlier regulation for the industry. Crypto exchange Coinbase’s (COIN.O, opens new tab shares climbed 3.7%, while miners Bitfarms , Riot Platforms (RIOT., opens new tab and CleanSpark (CLSK.O, opens new tab were up between 3.4% and 4.5%. “The crypto market interprets a scenario of a Trump win as more positive for crypto, in view of the Biden administration’s strong regulatory crackdown on crypto and pro-bitcoin statements by Trump,” Bernstein analysts wrote in a…

Popular American wealth advisor Mickle addresses misconceptions around the periodic XRP sales from Ripple and their impact on XRP’s price. Ripple, being the largest holder of XRP, is known for unlocking 1 billion XRP from its escrow accounts monthly. While 80% (800 million) of the tokens are re-locked in escrow, the remaining 20% (200 million) is periodically sold to fund the company’s operations. Community Thinks Ripple Suppresses XRP Price Consequently, some community members accuse Ripple of suppressing the coin’s price via these periodic sales. This was reflected in a poll created by the official X handle of the Good Morning…

Bybit has announced that MetaTrader 5 (MT5) platform will soon be available for cryptocurrency, forex, and Contracts for Difference (CFDs) trading. The launch is scheduled for early August 2024. MT5 Platform Supports USDT According to the firm, Bybit’s MT5 will feature top-tier liquidity and competitive fees. It will provide access to crypto perpetuals with minimal spreads and leverage options. The platform will also support forex trading. CFDs will allow traders to speculate on the price movements of assets such as gold and oil without owning the underlying assets. The MT5 platform will not require a minimum deposit. Deposits will be…

21Shares US LLC, an affiliate of 21Shares AG and a major player in crypto exchange-traded products, is partnering with Chainlink, a prominent decentralized oracle network, to integrate Chainlink Proof of Reserve (PoR), the companies announced Monday. The integration aims to enhance the transparency of the Ethereum reserves backing the 21Shares Core Ethereum ETF (CETH). The Chainlink Proof of Reserve system allows CETH investors to access real-time data regarding the underlying Bitcoin reserves and track their record, ensuring that the ETF accurately tracks ETH’s performance, Chainlink stated. “We’re excited to further our collaboration with 21Shares and support a major milestone in…