Author: NBTC
The price of Bitcoin (BTC) now stands as one of the most speculative subjects in the broader digital currency ecosystem. After falling as low as $58,554.25 over the past week, there are now reasons to be optimistic for a major bullish rebound. According to insights from top market analyst Ali Martinez, Bitcoin might be on its way to retest the $66,000 price mark in the short term. Bullish Bitcoin call Martinez revealed that Bitcoin had formed a pattern called “Adam and Eve.” Considering its bullish nature, this pattern can push Bitcoin up by more than 6% from its latest level.…
The spate of crypto bankruptcies of major platforms like Celsius, FTX, and BlockFi have brought doubts in the crypto community on the legal uncertainties and financial turmoil coexisting within this highly volatile space. The sudden changes in legal rights and responsibilities during these crypto bankruptcies have created unpredictable results that some experts are comparing it to stepping into a bizarre alternate reality. One of the most pressing concerns is that the Bankruptcy Code lacks specific guidance on how and when to value digital assets. This has left stakeholders grappling with a multitude of possibilities, where the value of their crypto…
Today, Sharpe AI has announced a new partnership with io.net. Sharpe AI has integrated the io.net’s GPU cluster for its artificial intelligence (AI) fine-tuning processes. The collaboration between these two networks aims to use AI and machine learning technology to enhance the cloud computing industry. We’re excited to see @SharpeLabs leveraging our GPU cluster for their AI fine-tuning! Their smooth onboarding and seamless deployment reflect our dedication to quality service. Looking forward to supporting their growing cloud computing needs! https://t.co/ZaCnfMD27c — io.net (@ionet) July 17, 2024 Io.net (IO) is a decentralized GPU network that was developed to provide scalable and…
Bitcoin, the leading cryptocurrency, was greatly affected by sales from miners, as well as sales by the US and German governments. Miners, whose earnings decreased after the halving, sold BTC to survive, putting pressure on the price. However, CryptoQuant said that on-chain data showed a significant decline in miners’ Bitcoin sales, which peaked in early June. This decrease means that the effect of selling pressure on Bitcoin has decreased and optimistic market sentiments have emerged. “One of the reasons why the cryptocurrency market has fallen recently is miners. After the Bitcoin halving, mining activity decreased and miners began selling Bitcoin…
The Cryptonomist conducted an interview with Burnt Banksy, founder of NFT art project Burnt and core contributor to the XION L1 blockchain. Burnt Banksy is leading a mission to democratize web3 for the masses and make digital ownership accessible to all by removing unnecessary barriers and complications through crypto abstraction. After launching the XION Blockchain, Burnt Banksy and his team secured a $25M funding round – with the goal of “making crypto disappear.” Burnt Banksy provided us valuable insights into topics related to Web3 adoption, crypto abstraction, ecosystem interoperability, and why he and XION’s investors believe that XION is the…
BingX has launched BingX Labs to support digital asset startups with technical and strategic support. Crypto startups in Asia and Africa surged in 2024. The leading cryptocurrency exchange, BingX, has unveiled BingX Labs, its new investment division planned to fuel the growth of digital asset startups. This initiative comes at a time of increasing optimism within the crypto market, highlighted by a surge in investment and heightened participation from traditional financial players. BingX Labs focuses on providing comprehensive support to emerging crypto projects, offering more than just financial backing. The new division will bring various services, including technical guidance, strategic…
Polygon Labs, the main developer firm behind the layer-2 network Polygon, said Wednesday that it will be performing the technical upgrade that swaps out its MATIC token for its new POL token starting on Sept. 4. The migration comes as a part of Polygon’s planned revamp laid out last year in its “Polygon 2.0” roadmap. The change was initially proposed in July 2023 to its community, and would make POL the main token for all Polygon networks. The switch will consist of a technical upgrade that enables POL to be the native gas and staking token for Polygon’s main proof-of-stake…
Ethereum price started a decent upward move from the $3,080 support zone. ETH is recovering and might aim for a test of the $3,500 resistance zone. Ethereum is showing positive signs from the $3,150 pivot zone. The price is trading above $3,250 and the 100-hourly Simple Moving Average. There was a break above a key bearish trend line with resistance at $3,280 on the hourly chart of ETH/USD (data feed via Kraken). The pair could continue to move up if it stays above the $3,280 support zone. Ethereum Price Eyes Steady Increase To $3,500 Ethereum price formed a base above…
Peru’s central bank has launched its first central bank digital currency (CBDC) pilot, selecting local telecom operator Viettel Peru as its partner. The Central Reserve Bank of Peru announced the partnership recently but didn’t disclose any details about the pilot. Viettel is the local subsidiary of Vietnam’s state-owned multinational telecom operator Viettel Group, which started operating in Peru in 2014. For Peru, a digital sol is the country’s attempt to digitize payments to enhance efficiency and cut costs. The government is also seeking to boost financial inclusion; according to the latest studies conducted two years ago, only half of Peruvians…
If Shiba Inu becomes a $1 trillion market cap crypto asset, as predicted by lead developer Shytoshi Kusama, it can spike by 9,743% to delete two leading zeros. Lead developer Shytoshi Kusama has persistently maintained that Shiba Inu is capable of greater heights. In March, Kusama argued that a $0.00012 target is an underestimate for SHIB. Most recently, Kusama entertained an interview with the leading business magazine Arabian Business. During the interview, the lead developer discussed the far-reaching goals of the Shiba Inu ecosystem. Interestingly, Kusama asserted that the goal is to make SHIB the first trillion-dollar decentralized entity in…