Author: NBTC
Bitcoin’s price has seen an ongoing battle to close above the critical $70,000 mark, with recent attempts falling short. This inability to secure a solid close has led to a hit for long traders, who have experienced substantial liquidations. Despite this, overall market sentiment remains highly optimistic, as traders retain a bullish outlook on Bitcoin’s potential for further gains. Bitcoin Bulls Lose Over the last 24 hours, Bitcoin experienced long liquidations totaling $50 million, following a 2% price decline. These liquidations mark the largest losses for long traders in the past two weeks, reflecting the challenges of maintaining price support…
The metrics from the broader market regarding the recovery of meme coins like Shiba Inu (SHIB) and Dogecoin (DOGE) show an interesting twist. Data from the crypto analytics platform IntoTheBlock shows a significant divergence in the whale activities from SHIB and DOGE. Shiba Inu whales showing DOGE The Way According to the data, SHIB whale transactions shot up by over 261% in 24 hours. For Dogecoin, this comes in at merely a 4.58% surge. For reference, the whale transactions in this context involve any active transfer worth at least $100,000. While DOGE’s $1.29 billion volume dwarfs Shiba Inu’s $39.6 million…
Polymarket is reportedly under investigation by the Department of Justice for allowing U.S. residents to trade on its platform, despite a regulatory settlement prohibiting such activity. Even though the prediction market blocks U.S. IP addresses, legal experts said that this alone may not be sufficient to comply with U.S. regulations, especially for companies with a history of regulatory issues like Polymarket. Aside from geofencing, the only real way to prevent people in restricted countries from accessing a site is by requiring identification, but this means law-abiding users must trust a platform with sensitive personal data, cybersecurity experts said. Polymarket’s current…
Cardano founder Charles Hoskinson believes the DeFi coming to the Bitcoin ecosystem through the latest partnership between EMURGO and BitcoinOS will “dwarf” those seen in Ethereum and Solana. A few days after Cardano and BitcoinOS collaborated to bring smart contract features to the Bitcoin network, Hoskinson is already making bold statements. In a tweet on October 25, the Cardano founder claimed that the decentralized finance ecosystem set to spill into the Bitcoin network will dwarf that of Ethereum and Solana. Hoskinson Teases DeFi on Bitcoin Network The Cardano co-founder tweeted that he intends to help drive the full incorporation of…
General Updates Neo had a presence at Binance Blockchain Week in Dubai with a booth in the main exhibition hall. Community members from Neo Global Development, AxLabs, and Neo News Today were on site to discuss Neo N3 and Neo X. Additionally, Neo co-sponsored a KOL reception to connect with influencers in the international crypto community. Neo launched the Neo X Grind Hackathon main event, co-hosted with support from IOSG Kickstarter, Web3Labs, Foresight Ventures, and Bitget. The hackathon, which includes over US $22 million in prizes and grants, is aimed at discovering and empowering talented developers as they create innovative…
Bitcoin’s recent channel breakout suggests potential alignment with its 2020 pre-bull run structure, sparking optimism among traders. A key support retest phase is underway, with successful support holding likely to indicate momentum toward new highs. Analysts view Bitcoin’s current dip as an opportunity, with historical patterns suggesting the potential for a major uptrend. Based on this observation of the current state of exchange rates for Bitcoin, it can be assumed that the current market situation is fully analogous to the position that Bitcoin was in before the 2020 bull market. Investing experts also examined the daily Bitcoin exchange rates and…
The Solana blockchain recorded over 120 million active addresses in October, reaching the highest level of user activity in its history. Solana Hits Monthly Active Address Record as Citi and Fidelity Showcase Digital FX Swap at Singapore Fintech Festival The increasing engagement underscores the network’s growing appeal in the blockchain and cryptocurrency spaces as users continue to flock to the platform for its high trading volume and low transaction costs. Meanwhile, financial giants Citi and Fidelity have also made strides in blockchain adoption, unveiling a proof of concept for a digital foreign exchange (FX) swap housed in an onchain money…
Former CFTC Chair Chris Giancarlo, who is known as “Crypto Dad” because of his friendly stance on digital assets, has confirmed that he is not in the race to replace SEC boss Gary Gensler. In a Thursday social media post, Giancarlo stated that he is not interested in cleaning up Gensler’s “mess” again. Gensler previously served as the head of the CFTC from May 2009 to January 2014. Giancarlo, who initially joined the CFTC as a commissioner back in 2014, ended up spearheading the agency from August 2017 to July 2019. Giancarlo has also denied DC rumors about potentially getting…
Analyst Kevin Svenson believes Bitcoin (BTC) remains on track to print new all-time highs despite a months-long consolidation phase. In a new video, Svenson tells his 80,100 YouTube subscribers that Bitcoin may be on the verge of entering the most explosive phase of the market cycle based on historical precedence. “Bitcoin is sitting in a position that is very familiar… After the first halving in 2012 and reaching an all-time high, it took Bitcoin about 41 months to begin trending above the all-time high. After the second halving in 2016 to the all-time high from that all-time high it took…
Lagarde sees global payment unity as vital for smoother and more efficient money transfers. Ripple’s XRP enables fast and affordable solutions for seamless overseas transfers. Legal shifts may shape Ripple’s role in future international finance. Christine Lagarde, former director of the International Monetary Fund , called for interoperability among payment systems to address the growing complexity of cross-border remittances. Lagarde emphasized that integrating systems worldwide could improve efficiency and reduce costs for international transactions. Her view aligns with blockchain-based platforms like Ripple, which aim to streamline global financial transactions by enhancing payment connectivity across borders. Ripple and XRP: Transforming Frontier…