Author: NBTC

Federal Reserve Chair Jerome Powell has indicated that interest rate cuts may be further off than anticipated. He cites recent inflation data that defies earlier expectations of a rapid decline. The decision signals a potential shift in the Fed’s approach. It will also potentially reopen the debate about Bitcoin’s effectiveness as an inflation hedge. Is Bitcoin Still a Safeguard Against Inflation? Powell acknowledged that despite initial progress, inflation rates have yet to show sustained improvement towards the Fed’s 2% target. “The recent data have clearly not given us greater confidence … Given the strength of the labor market and progress…

The Axie Infinity Origins Season 8 has finally ended, and the Postseason has started. The main highlight of the Postseason is the upcoming Elite 8 tournament, which features giveaways of up to 600 Axies followed by several new updates. Also read: Up to 20,000 AXS in Rewards in Axie Infinity Homeland Cooking Showdown The Axie Origins Elite 8 tournament will take place on 25th May at 7:00 AM EST following the end of season 8. It will feature the top 8 players from the previous season competing against each other for a shared prize pool of 3,000 AXS. Elite 8…

Many enthusiasts in the Bitcoin community were anticipating the next halving to coincide with Saturday, April 20, 2024, but the latest data suggest it will likely occur a day earlier, on April 19. Despite a recent uptick in mining difficulty, miners have managed to maintain a high hashrate, resulting in block times dropping below the average ten-minute mark. Fierce Competition Among Mining Pools as Bitcoin Halving Looms As of this writing, only 519 blocks remain until the Bitcoin halving, anticipated this week at block 840,000. The forecasts now point to the event unfolding on April 19, deviating from the initial…

It has come to light, thanks to data from IntoTheBlock, that the volume of large transactions involving the popular meme cryptocurrency Shiba Inu (SHIB) has increased 165% in the past 24 hours from 3.73 trillion SHIB to 6.18 trillion SHIB. In monetary terms, this change was reflected in an increase in transaction volume from $82.69 million to $138.2 million. In total, there were 241 such transactions of whales, as the major players in the crypto market are called, over the past day. It is important that only those transactions whose size amounted to at least $100,000 are taken into account.…

Bitcoin (BTC), the world’s largest digital asset, has a major support at the $62K price level as per the data provided by UTXO Realized Price Distribution (URPD), and it is imperative for the leading cryptocurrency to hold above this price region. As per a post by technical analyst @ali_charts on social media platform X (formerly known as Twitter), if Bitcoin holds above $62,000 and breaks above the $66,250 price level, the bull run will resume. However, if the digital asset fails to hold above $62,000, it might retest the nearest major support at $51,500, which is another major demand area…

RippleX developers have unveiled a game-changing proposal that intends to introduce a native lending protocol, codenamed XLS-66d. The new proposal lays the groundwork for deploying a groundbreaking lending protocol directly on XRP Ledger, which is intended to revolutionize how lending takes place on the blockchain. XLS-66d lays the foundation for a robust, decentralized lending protocol native to the #XRPLedger.Highlights include:✅ Simplicity & direct lending✅ Protocol-native approach✅ Modular & flexible designLearn more: https://t.co/UKkcX23Usu — RippleX (@RippleXDev) May 1, 2024 The proposal establishes mechanisms for fixed-term, interest-accruing loans pooled from collective funds that do not require on-chain collateral. This strategy secures the…

Bitcoin, the world’s largest cryptocurrency, is trying to regain momentum after a weekend crash that wiped out more than 10% of its value. The sharp and sudden drop on Saturday came right after the news that Iran had launched an unprecedented attack on Israel. “It still hasn’t recovered from that sharp pullback,” Bitwise president Teddy Fusaro told Fortune. “It was the only asset that could be traded in financial markets at the time, which is one of Bitcoin’s unique strengths,” Fusaro said, “but it also makes it susceptible to fluctuations in price over the weekend because it was the only…

Binance on Wednesday burned 1.4 billion Terra Luna Classic (LUNC) tokens in its 21st batch of the LUNC burn mechanism. After the latest burn by Binance, the total LUNC burned by the crypto exchange to date has now surpassed over 57 billion. The total LUNC tokens burned by the Terra Luna Classic community has reached over 112 billion. Binance has continued supporting the community for Terra Luna Classic revival since 2022 via its monthly LUNC burn mechanism. Crypto exchange Binance sent 4.17 billion Terra Luna Classic (LUNC) tokens to the burn address, as per the LUNC burn transaction on May…

With the approval of Bitcoin Spot ETFs, there are large outflows from Grayscale’s GBTC product, which attracts attention with its high fee, and intense inflows to BlackRock’s more reasonable Bitcoin Spot ETF product, IBIT. The outflows from Grayscale’s GBTC product, which previously operated as a trust, are evaluated in favor of the bear by the market, and the date when IBIT’s assets will surpass GBTC is eagerly awaited. Fund inflows and outflows of the two products are closely monitored by crypto money followers, and whether the market is on the bear or bull side is evaluated according to this metric.…

In a move that has caught the attention of crypto enthusiasts and investors alike, a substantial sum of Chainlink (LINK) has changed hands, amounting to over $50 million, according to a recent tweet by Whale Alert. The transaction, involving over 3.7 million LINK tokens, underscores a significant shift in ownership within the LINK ecosystem. 🚨 🚨 🚨 3,788,969 #LINK (50,490,974 USD) transferred from unknown wallet to unknown wallethttps://t.co/LnKTnH6XAL — Whale Alert (@whale_alert) May 2, 2024 The tweet, issued by Whale Alert, a popular X account known for tracking large crypto transactions, stated that over 3.7 million LINK tokens worth over…