Author: NBTC
Ethereum price today:$2,600 Ethereum price finds support around its 50-day EMA at $2,538, suggesting a possible rally ahead. On Tuesday, US spot Ethereum ETFs recorded a mild outflow of $12.70 million. Lookonchain data and Sentiments Network Realized Profit/Loss show some investors are booking profits. Ethereum (ETH) edges higher again on Wednesday after retracing and testing its crucial support level the prior day. Supporting Tuesday’s retracement, US spot Ethereum Exchange Traded Funds (ETFs) recorded a mild outflow on the day, followed by some investors booking profits, as shown by Lookonchain data and the Sentiments Network Realized Profit/Loss metric. Ethereum investors selling…
Fed Governor Christopher Waller recently addressed key economic issues such as inflation trends, the labor market and future monetary policy adjustments. Waller emphasized the FED’s cautious stance in monitoring inflation data, stating that the recent rise resembled a “roller coaster” and that the central bank was evaluating whether this rise would continue. Waller also shared his outlook for the labor market, predicting a slowdown in employment growth and a gradual increase in the unemployment rate. However, he reassured that the unemployment rate would remain at historically low levels. He described the current labor market as “very healthy” with supply and…
Crypto analyst Atlas has pointed to ten altcoins that have been redundant and are expected to lag in the coming bull run. During a bull cycle, literally every coin in the crypto market increases in price. Notably, cryptocurrencies grow in different proportions, with some outperforming others on the premise of trending narratives, adoption, and utility. However, some crypto assets have been redundant, providing little or no profit for investors. Market speculator Atlas has listed ten coins that have underperformed recently and should be avoided during this bull cycle. He divided these assets into three categories: those with outdated technologies, irrelevant…
Concerns expressed by the cryptocurrency community regarding Coinbase’s handling of Bitcoin ETFs have been addressed by Coinbase CEO Brian Armstrong. Justin Sun’s tweet, which expressed doubt about centralized Bitcoin exchange-traded funds (ETFs) on the grounds that they do not have proof of reserve and can freeze anyone’s balance at any time, sparked this conversation. How Coinbase manages ETFs Armstrong responded by utilizing the occasion to explain Coinbase’s stance and its approach to managing ETF-related activities. He gave the community confidence by saying that all of Coinbase’s ETF minting and burning operations are finally settled on-chain, guaranteeing security and transparency. Baldilocks…
According to the latest report from CoinGecko, the NFT market is experiencing a period of significant difficulty. Unlike the rest of the crypto assets, where there is an increase in participation, in the non-fungible token exchanges it is still a bear market. The perspective emerges both on the front of the prices of the major collections and on the overall sales volumes of the market. Let’s see everything in detail below. CoinGecko: the crypto winter for the NFT market is not over yet Prices of the major collections according to CoinGecko data Sales volumes declining for the NFT market throughout…
There is a stark difference between the staking concentration of Ethereum and Polygon. A new report suggests that Ethereum’s staking activity remains considerably more concentrated than Polygon’s in what it considers “potentially unhealthy” for the ecosystem. Ethereum Staking Dominated by Few According to Flipside’s “YoY PoS Staking Report” shared with CryptoPotato, from September 2023 to 2024, Ethereum’s top 10 stakers consistently controlled nearly half – around 47-48% – of the total staked ETH, reflecting a stable but concerning level of centralization in its staking ecosystem. This lack of movement towards greater decentralization could raise red flags about the network’s reliance…
Anthony Pompliano, founder of Professional Capital Management, believes Tesla’s push into automation could be the catalyst for widespread stablecoin adoption. In a recent post, Pompliano highlighted Tesla’s new autonomous vehicles and humanoid robots, introduced at the company’s Robotaxi Day event, as a potential turning point for digital currencies. He argued that these innovations could lead to a new era in which stablecoins become the primary transaction medium in a machine-driven economy. You might also like: Pompliano: Bitcoin and AI remain in decade-long bullish trend Tesla’s advancements = more stablecoin use cases Tesla, led by CEO Elon Musk, unveiled a range…
AVAX has seen a significant surge in price following the launch of the Avalanche Foundation’s $40 million Retro9000 grant program, which is aimed at incentivizing the creation of layer-one blockchains. In addition to improving AVAX’s market performance, the grant program aims to spur innovation as the Avalanche9000 upgrade approaches. The Retro9000 grant program, which was announced by the Avalanche Foundation on September 26, 2024, is designed to empower developers to build the underlying infrastructure on the Avalanche network. The initiative coincides with the upcoming Avalanche9000 upgrade, which is billed as the platform’s most significant improvement since its mainnet launch in…
The Federal Open Market Committee (FOMC) will meet on Wednesday, September 18, for what can be the first interest rate cut decision in years. This decision will potentially affect finance markets and leading assets like Bitcoin (BTC), requiring a trading plan for the week. On that note, CrypNuevo shared his Bitcoin trading plan for this week and commented on what he expects to happen. In summary, the analyst believes BTC will trade in a range close to Bitcoin’s current price before the meeting. “I’m leaning towards the idea of price forming a range here with a few deviations/traps until then.…
The value of Ethereum (ETH) sent into exchanges has surpassed $1 billion just two days after the altcoin’s price climbed to $2,600. This sudden influx of ETH onto exchanges often signals a potential shift in market sentiment, as traders may be preparing to cash out on recent gains. With Ethereum’s price swinging sideways, the question now is whether this inflow will lead to increased selling pressure for one of the market’s top assets. Ethereum Holders Book Quick Gains On October 13, Glassnode data revealed that 122,164 ETH were held on exchanges. However, as of this writing, that number has surged…