Author: NBTC
The European Central Bank (ECB) has challenged the idea that stablecoins are a “safe haven” for investors in times of market turmoil, finding they are actually highly impacted by U.S. monetary policy. The working paper examined the link between U.S. monetary policy, money market funds (MMFs), and stablecoins. “Monetary policy, in particular for the U.S. dollar, is the linchpin that connects crypto and traditional financial markets,” the authors concluded. The paper argued that stablecoins—which have a fixed price and are typically pegged to a fiat currency, often the U.S. dollar—were vulnerable to shocks coming from within traditional financial markets, such…
Following Shiba Inu’s 45% surge to $0.00001855, multiple entities, including Changelly and ChatGPT, have set new timelines for SHIB’s potential rally to $0.0001 and $0.001. Shiba Inu (SHIB) was among the best performers in the recent market recovery. The leading dog-themed token recorded a monthly surge of 40%, pushing its price to $0.00001855. Interestingly, several Shiba Inu enthusiasts believe the recent price uptick is just the beginning of what’s to come in the future. Consequently, they expect Shiba Inu to surge to loftier targets like $0.0001 or $0.001. With Shiba Inu priced at $0.00001855, hitting the $0.0001 and $0.001 targets…
The most discussed coin on Crypto Twitter over the past day arguably isn’t Bitcoin or some novel asset rocketing to new heights—it’s an Ethereum token created by the FBI to catch scammers, and one that made the agency a profit before trading was disabled. The Department of Justice (DOJ) unveiled a sweeping criminal case against 14 individuals and four crypto firms Wednesday. Gotbit, ZM Quant, CLS Global, and MyTrade were all accused of misconduct related to market manipulation—inflating tokens’ prices and volumes on demand. Over the course of its investigation, the DOJ identified around 60 cryptocurrencies allegedly manipulated by defendants’…
Raoul Pal, a prominent macro analyst and CEO of Real Vision, has recently reaffirmed his optimistic stance on Bitcoin. Amid the brief surges following the Federal Reserve’s rate cut announcements, Pal expressed confidence in Bitcoin’s long-term trajectory. In a video shared by Real Vision, the CEO emphasized the straightforward message that Bitcoin is on an upward path and that anything else is a mere distraction. “Bitcoin is going up; It’s as simple as that,” Pal remarked, urging market participants to “learn to take the pain” from temporary fluctuations. It’s going UP! It’s as simple as that. Everything else, it’s just…
Crypto adoption is growing in Argentina, with a correlation between stablecoin use and the devaluation of the country’s currency, according to a new report. Research released Wednesday by blockchain data firm Chainalysis showed that Argentina’s stablecoin use is among the highest in the region, with the South American country’s share of stablecoin transaction volume at 61.8% of all crypto transactions—higher than Brazil’s 59.8%. Only Colombia landed higher at 66%. The reason for Argentina’s surging use of such assets, according to Chainalysis, is that people in the country—which has one of highest rates of inflation in the world—are using stablecoins to…
The first transaction of tokenized gold and silver was made on the XRP Ledger on September 29 after Ripple and Meld Gold disclosed their collaboration months ago. According to the original plan, two stablecoins fully backed by gold and silver were supposed to be fully rolled out in the third quarter of the year (Q3 2024). In June, CNF reported a groundbreaking collaboration between Meld Gold and Ripple that was meant to deliver fungible gold and silver assets on the XRP Ledger (XRPL). On September 29, the first transaction on the mainnet finally went through, with the subsequent rollouts expected…
The 10th-largest bank in the US is preparing to pay a $3 billion fine after becoming the first in American history to plead guilty to conspiracy to commit money laundering charges. TD Bank’s American-based unit has also admitted to violating the Bank Secrecy Act, and will hand $1.8 billion to the Department of Justice and $1.3 billion to the Financial Crimes Enforcement Network (FinCEN). Prosecutors say the bank failed to properly track trillions of dollars in transactions, making it easy for drug traffickers and other criminals to move huge sums of cash to notoriously risky countries. In some cases, even…
A cryptocurrency analyst and trader is saying Bitcoin (BTC) is on the verge of entering a bullish phase over the coming weeks and months. The analyst pseudonymously known as Rekt Capital tells his 88,100 YouTube subscribers that Bitcoin is “on the cusp of a breakout into the parabolic phase” after spending the past few months in a re-accumulation phase. According to Rekt Capital, Bitcoin’s parabolic phase lasts a predictable amount of time in every cycle. “So if we just see that 160 days after the halving is how long this re-accumulation phase lasts and we tend to see a bull…
The Bitcoin ETFs have recently seen a huge inflow worth 207 million dollars indicating the growing interest and confidence of investors. On the other hand, the Ethereum market is going through a totally opposite situation. ETFs have recorded outflows of $9.69 million – indicating a shift in investor sentiment away from Ethereum. Oct 8 Update:10 #Bitcoin ETFsNetFlow: +3,281 $BTC(+$204.7M)🟢#Fidelity inflows 1,639 $BTC($102.26M) and currently holds 179,565 $BTC($11.2B).9 #Ethereum ETFsNetFlow: -3,968 $ETH(-$9.69M)🔴#Grayscale(ETHE) outflows 3,711 $ETH($9.06M) and currently holds 1,640,928… pic.twitter.com/bdzDiL6xA9 — Lookonchain (@lookonchain) October 8, 2024 Here’s a little sneak peek into the current market condition: Bitcoin ETFs Total Net Flow…
A meme coin fund launched by Three Arrows Capital has come under fire for allocating around 84% of its tokens to wallets belonging to team members and insiders. A post by BubbleMaps blockchain analytics showed that more than 80% of 3AC’s meme coin fund, Three Arrowz Capitel, appeared to be clustered together into a few wallets belonging to insiders and team members. This has led to speculation from investors that the fund may be steeped in price inflation and manipulation tactics. An investment partner from L1D elaborated further in an article that he posted on X. According to onchain trails,…