Author: NBTC
Recent observations by Eric Balchunas, a senior ETF analyst at Bloomberg, suggest that the movements in Bitcoin’s price are influenced by factors beyond just the flows of spot Bitcoin Exchange Traded Funds (ETFs). According to Balchunas, who shared his insights on X, “bigger forces at work” shape the largest cryptocurrency’s valuation. This indicates that the correlation between spot ETF flows and Bitcoin’s price action is less direct than some assume. The ETF Influence And Market Movements This analysis emerges amid a period of significant financial activity for Grayscale, which has seen substantial outflows, described by Balchunas as experiencing a “second…
MadFi has completed a $1 million angel investment round for its BONSAI token, a meme coin created on Lens Protocol. The funding round attracted leading investors such as Palm Tree Crew (PTC) Crypto, Avara Ventures, and Social Graph Ventures. Individual investors also participated in the funding round, such as Boys Club Inc, Spencer Noon, and Sandeep Nailwal. BONSAI is up by 340% since its launch, at the time of writing, with its price peak showing a 435% growth. Moreover, the token shows almost $95 million fully diluted market cap. “By rewarding content and engagement, $BONSAI has effortlessly become an integral…
At the Polkadot Asia developer conference Sub0, leading decentralized liquid staking protocol Bifrost announced the launch of LoopStake, a new Leverage Staking product. The cutting-edge product, which will be available on bifrost.app starting on March 13, is intended to provide consumers a one-click, easier method to increase the return on their staked assets. Through a process known as looping, users of leverage staking stake assets to earn an LST. They then use the same liquid staking token (LST) as collateral on a lending protocol to borrow the staked assets and earn the LST once again with the borrowed asset. Loopstake…
Nigeria has accused Binance and two of its executives detained in the country of evading taxes. The executives were due to be arraigned Thursday. A Federal High Court in Abuja, Nigeria’s capital, has adjourned hearings for the local tax authority’s cases against crypto exchange Binance Holdings and two of its executives who were detained by government authorities, local news outlets reported on Thursday. The matter was adjourned due to the Federal Inland Revenue Service (FIRS) not being able to serve Binance’s Head of Financial Crime Compliance Tigran Gambaryan the charges while he was in custody, the Punch reported. While Gambaryan…
Coinbase, the international cryptocurrency exchange, has achieved a milestone in its expansion efforts by becoming officially registered as a Restricted Dealer by the Canadian Securities Administrators (CSA). With this development, Coinbase has become the first international cryptocurrency exchange to be registered in Canada. The registration process, which has been in progress since March 2023, underscores Coinbase’s focus on regulatory compliance. Through close collaboration with Canadian regulators, Coinbase has worked to establish a policy framework. Coinbase’s CEO, Brian Armstrong, expressed appreciation for the efforts of Canadian regulators in bringing clarity to the cryptocurrency market. Additionally, Coinbase has engaged with Canadian banks,…
Based on current metrics, the Bitcoin blockchain is set to undergo another difficulty adjustment before the halving, with an anticipated increase of 1.2% to 2.16% around April 11, 2024. Following this adjustment, there will be 1,344 blocks remaining until the reward is halved. Estimated Increase in Difficulty Precedes Halving In April, bitcoin (BTC) miners face two significant events: the upcoming difficulty adjustment and the subsequent halving. During the last adjustment on March 28, at block height 836,640, the difficulty decreased by a modest 0.98%. However, this reduction may be erased in the next adjustment, which is projected to increase by…
Bitcoin price failed to recover above the $68,000 resistance zone. BTC is sliding and might decline again toward the $62,000 support zone. Bitcoin price started a decent increase but struggled near the $68,000 zone. The price is trading below $66,000 and the 100 hourly Simple moving average. There is a short-term declining channel or a bullish flag forming with resistance at $66,200 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair must clear the $66,200 resistance zone to start a fresh increase. Bitcoin Price Faces Hurdles Bitcoin price attempted a decent recovery wave above the…
An estimated $90 trillion transfer of wealth is now underway as baby boomers begin to give assets to their children – and a new survey shows a massive transfer of debt is happening at the same time. A whopping 46% of Americans expect to pass on some form of debt when they pass away, according to a new survey by Policygenius. The survey shows 58% of people who earn at least $150,000 a year expect their loved ones to inherit their debts when they die. For those who earn less than $150,000 per year, that number drops to 47%. According…
XRP made it to the list of top 10 digital assets that Forbes recommended for cryptocurrency investors this month. Leading media outlet Forbes released its list of the top 10 cryptocurrencies suitable for investment in March 2024. Interestingly, XRP made this month’s list of the top 10 crypto assets worthy of investment. Although XRP is ranked sixth on the list, this does not imply that the coin should be the sixth asset investors need to consider when investing in cryptos this month. It is worth mentioning that the top 10 cryptos were ranked based on their market capitalization as of…
Google is suing a group of alleged scammers who are said to have uploaded fraudulent apps to Google Play. Victims were lured to download the apps with promises of high returns that the lawsuit described as “illusory.” A Google spokesperson described the lawsuit as a “unique opportunity” to set a precedent for how to deal with bad actors. Google filed a lawsuit against alleged crypto scammers claiming they uploaded fraudulent investment apps to Google Play. The lawsuit filed Thursday in the Southern District of New York alleges that Yunfeng Sun and Hongnam Cheung committed hundreds of acts of wire fraud,…