Author: NBTC
A wallet inactive for six years moved 1,000 BTC to Coinbase early Friday. The so-called old hands have been selling coins this quarter, adding to bearish pressures in the market. Volatility may rise later Friday following the release of the Fed’s preferred inflation gauge. Out of the blue, a whale wallet that had been inactive for six years sprung to life early Friday, moving bitcoin {[BTC}} to Coinbase as the leading cryptocurrency faded the spike above $62,000. The crypto wallet identified as 12EMDoUhaNCuWZeeT6ey61AkjKyzmjV2m3 deposited a substantial 1,000 BTC, valued at over $61 million, to Coinbase Pro, according to data tracked…
Layer3 token drops 13% amid declining trading volume and market sentiment. Recent $15M Series A funding led by ParaFi and Greenfield Capital. Layer3, a token distribution protocol, has experienced a notable drop in market sentiment, with its native token L3 declining by 13% in the past 24 hours and trading volume falling by 36%. Despite this downturn, Layer3 has recently announced a strategic partnership with Immutable, which praised the protocol as “trusted by over 4 million users worldwide and the exclusive partner for Immutable’s game quests.” One month ago, Layer3 successfully raised $15 million in a Series A funding round,…
On-chain data reveals an interesting trend among XRP mega holders, in this context referring to addresses that own more than 100,000 XRP tokens. These large holders, described as “whales” and “sharks,” have been quietly increasing their holdings as the XRP price consolidated before its current breakout. Data from on-chain analytics firm Santiment highlights a growing trend of accumulation among large XRP holders, as these entities, holding at least 100,000 XRP coins, have been steadily increasing their holdings since last August. Santiment observed a noticeable turning point in supply accumulation since this period. Following the historic ruling in the Ripple-SEC lawsuit…
According to cryptocurrency analytics platform Lookonchain, a long-dormant wallet has sprung back to life after six years in order to deposit 1,000 BTC ($61.55 million) into Coinbase Prime just hours ago. The latest transfer comes after a few other notable Bitcoin transactions that took place earlier this week. As reported by U.Today, the US government recently sent roughly $241 million worth of Bitcoin to Coinbase on June 26. Despite some concerns from the community, the transfer did not trigger a significant price move. On July 27, an extremely rare transfer took place, with $3 million worth of Bitcoin that was…
India’s central bank, the Reserve Bank of India (RBI), has revealed that as of June, there were five million digital rupee users and 420,000 merchants participating in the retail central bank digital currency (CBDC) pilot. The RBI emphasized that the digital rupee is designed to complement cash and existing payment systems, serving both wholesale and retail sectors. Digital Rupee Garners 5 Million Users The Reserve Bank of India (RBI) released a report on Currency and Finance 2023-24 on Monday. One of the key highlights was the progress of the central bank digital currency (CBDC) pilot, also known as the digital…
A top cryptocurrency analyst and trader is expressing bearish sentiment on Bitcoin (BTC). The analyst pseudonymously known as DonAlt tells the 60,500 subscribers of the Technical Roundup YouTube channel that Bitcoin is likely to lose a key psychological support level and crumble below $60,000. The pseudonymous analyst and trader says, “I think if this range [between $60,000 and $73,800] breaks to the downside you should expect… at least 120 days of down/sideways movement. That’s kind of like you have a long, long big range, starts breaking down, starts getting accepted lower.” DonAlt says that in the worst-case scenario, Bitcoin could…
Azerbaijan is taking a cautious approach to the development of a central bank digital currency, citing concerns over monetary policy and financial stability. The Central Bank of Azerbaijan hasn’t made plans to issue a central bank digital currency at this time, although it’s actively observing the experiences of banks in other countries, local media reports citing central bank governor Taleh Kazimov. During a press conference on July 31, Kazimov expressed interest in the technological potential of CBDCs but emphasized a preference for observing international developments and pilot projects before making any decisions. “We are not currently planning to issue a…
Looking at crypto news headlines, it would seem initially that Solana has firmly established itself as the home of DePIN. From Hivemapper to Helium, some of the most well-known DePIN projects are built on this blockchain. But when we explored Solana as a blockchain on which to build our project, something didn’t quite add up. So, after getting our analytical hats on and running the requisite due diligence checks, we decided to go with Sui over Solana. This op-ed is part of CoinDesk’s new DePIN Vertical, covering the emerging industry of decentralized physical infrastructure. The first thing that gave us…
While the stablecoin economy experienced tepid growth in June, it expanded by $344.15 million over the past seven days. Paypal’s PYUSD, currently the eighth largest stablecoin by market capitalization, led the growth over the past 30 days, increasing 41.2% to reach $585.25 million. Stablecoin Economy Grows as Bitcoin and Ethereum Prices Rise Bitcoin and ethereum prices rose 12.4% and 11.2%, respectively, against the U.S. dollar over the last week. Alongside this increase, the stablecoin economy grew by 0.21%. On July 10, 2024, the stablecoin market was valued at $162.81 billion; today, July 17, it stands at $163.16 billion. Tether (USDT)…
Over 20 companies engaged in Bitcoin (BTC) mining, the process of extracting the oldest cryptocurrency for profit, are now listed on global stock exchanges. Wall Street is home to the vast majority of them, and it’s where we find the largest publicly traded BTC miners. But which one is the biggest? Let’s find out! Marathon Digital Holdings (NASDAQ: MARA) is the undisputed leader in the industry, with a market capitalization approaching $6 billion. The company’s stock has gained more than fivefold since its low at the end of the crypto winter, currently trading at around $20 per share. CleanSpark (NASDAQ:…