Author: NBTC

Bitcoin (BTC) rose 6% in the past few hours to above $66,000 and surpassed its 200-day moving average, following a period of consolidation over the weekend. This breakout is attracting traders’ attention, especially after several failed attempts to break above this key level recently. According to Bitget Chief Analyst Ryan Lee, the focus now is on whether Bitcoin can sustain its momentum or face another pullback. “Bitcoin’s rise above $65,000 is significant, especially considering the recent coin accumulation and renewed optimism about the US presidential election,” Lee said, noting factors contributing to the positive market sentiment. The rally in the…

The price of Ethereum’s ether (ETH) broke above the $4,000 mark on Friday for the first time since March. The second-largest cryptocurrency is up 2.4% in the last 24 hours and 8.4% in the last seven days, outperforming bitcoin (BTC) in both timeframes. The move comes as spot ether exchange-traded funds saw record inflows on Thursday. As of writing, ether is trading for $4,033, just 2% away from setting a fresh 2024 high. It’s also a mere 20% away from its all-time high of $4,868. The ETH/BTC ratio, which has been getting hammered since September 2022, has reached 0.04 again…

TBacked, Sonic (formerly Fantom) and Chainlink have teamed up with Australian hedge fund Fortlake Asset Management to turn its Sigma Opportunities Fund into a tokenized investment. Managed by Fortlake—recently named Fixed Income Manager of the Year in Australia— the fund’s units will be transformed into digital tokens, a process called tokenization, where real-world assets are represented on a blockchain, the companies announced exclusively to Decrypt. The collaborations seek to simplify asset management by bringing traditional financial assets on-chain and expanding access to decentralized finance (DeFi). The trio believes the fund’s tokenization leads to new opportunities within DeFi, “such as integrations…

Scroll initially began trading at $1.40 but has since dropped to around $1.10. Scroll confirmed that all co-founders and team members would not be receiving an airdrop in response to criticism last week. SCR has a market cap of $212 million and a fully diluted value of $1.1 billion. Layer-2 network Scroll released its long-awaited native governance token on Tuesday, putting the project’s initial valuation just over $200 million. Traders priced SCR at around $1.10, or a $212 million market cap, based on the circulating supply figure of 190 million. SCR will act as a native governance token with a…

Floki’s listing on Coinsquare boosts its presence in Canada and expands market access for crypto investors. Binance will reward Floki holders with Monky token airdrops, increasing engagement within the community. Floki’s growth is fueled by strategic listings and incentives, helping it expand globally in the crypto space. Floki has been listed on Coinsquare. It is Canada’s largest regulated crypto exchange. This move is a major step for the Floki project. Coinsquare is a well-known platform with strict security standards. $FLOKI just got listed on Coinsquare!Coinsquare is Canada’s largest regulated crypto asset trading platform, and this listing strategically positions FLOKI for…

Wall Street Bitcoin miner Hut 8 Corp. has revealed key capital market updates. The company has launched an “at-the-market” (ATM) equity offering program, a stock repurchase program, and filed a shelf registration statement with the SEC. The ATM program allows Hut 8 to issue shares of its common stock worth up to $500 million through sales on the Nasdaq Global Select Market or other approved methods. Proceeds will fund growth initiatives, such as acquiring energy assets, developing infrastructure, and purchasing Bitcoin. Funds may also cover general expenses, debt repayment, and other investments. Hut 8’s $250 million stock repurchase program enables…

After the SEC approved spot Bitcoin and Ethereum ETFs in recent months, issuers have turned to other crypto ETFs. At this point, while ETF applications have come for Solana (SOL), XRP and Litecoin (LTC), apart from BTC and ETH ETFs, two expert ETF analysts predicted that it is unlikely that crypto ETFs other than Bitcoin (BTC) and Ethereum (ETH) will be approved under the presidency of Kamala Harris. Analysts have pointed to Donald Trump as a possible candidate for the XRP and Solana (SOL) ETFs, saying that Trump’s win in the US presidential election could significantly increase their approval ratings.…

The MN Consultancy CIO and Founder stated that Bitcoin’s price has been stuck in a tight price range and explained different indicators explaining the price of BTC. The analyst, Michael Poppe, explained that the crypto market has a bearish sentiment, with Bitcoin hovering over the same range over the past 200 days. Poppe still noted that the neutral Fear and Greed Index is not as bad as it was a few months ago when it was as low as 26. For this reason, Poppe believes that many events will happen in Q4, saying that the quarter will be a great…

The TRON (TRX) network has made the headlines as it has achieved a record-breaking revenue of $577 million in Q3, surpassing Bitcoin (BTC) and Ethereum (ETH) in earnings for the quarter. This marks as significant milestone for TRON, which has rapidly grown its influence on the crypto market. 💰 #TRON network achieves record-breaking revenue in 2024! Check out our latest YouTube Shorts to see how the TRON network earned an impressive $577M in Q3 2024, overtaking Bitcoin and Ethereum in revenue. Tron now controls 35% of the global stablecoin market, becoming a… pic.twitter.com/xEIEJyzFOH — EXMO.com (@Exmo_Com) October 22, 2024 Bitcoin‘s…

Bitcoin’s (BTC) open interest (OI) weighted continuous-term funding rate has risen to its highest level in recent months, signaling a potential bullish trend in the short to medium term, according to market analysts. The OI weighted funding rate currently stands at 0.012%, a level last seen on July 27 when Bitcoin briefly reached $68,000. However, BTC later experienced a sharp 22% correction in early August as the highly leveraged market took a major hit. While a positive funding rate typically reflects bullish market conditions, caution is warranted, according to Ruslan Lienkha, Chief Markets Officer at YouHodler. “A local peak in…