Author: NBTC
Bitcoin’s price has been range-bound, influenced by the cash-and-carry arbitrage strategy. Institutional trading behavior continues to reinforce range-bound expectations. Bitcoin has been oscillating between $56,552 and $73,777 for several weeks, creating a highly volatile trading environment. Traders face the challenge of determining breakout directions within this unpredictable range. Experts recommend waiting for a clear breach of resistance levels before making significant trades. As reported in Coin Market Cap news updates, this situation adds to the complexity of making significant trades. Impact of Cash-and-Carry Arbitrage Bitcoin’s recent price stagnation is primarily due to the cash-and-carry arbitrage strategy, as highlighted by Glassnode.…
Tap Protocol has achieved a major milestone by executing the first Bitcoin-native swap directly on Bitcoin Layer 1, according to an Aug. 13 statement shared with CryptoSlate. This breakthrough is a landmark achievement for Bitcoin as it enables DeFi operations on the leading blockchain without relying on Layer 2 solutions or roll-ups. The Tap metaprotocol now opens new use cases within the blockchain, including Digital Matter Theory and the facilitation of seamless token swaps, all natively and securely, on Bitcoin. ICP’s role Traditionally, Bitcoin has been limited compared to the smart contract and DeFi capabilities of platforms like Ethereum and…
The U.S. dollar is losing its grip on the world. In 2024, its share of global reserves dropped to 59%, down from 72% in 2002. That’s a 13% decline over the last 22 years. The numbers are clear: countries, especially those in the BRICS bloc, are distancing themselves from the dollar. During the same period, China’s yuan inched up by 3%. The U.S. dollar has been the world’s leading reserve currency since World War II. Today, it still represents 58% of the value of foreign reserve holdings. But the writing is on the wall. The euro, the next in line,…
Water ($WATER) has made headlines recently after endorsements from soccer legends Lionel Messi and Ronaldinho Gaúcho sent its token price soaring. But beyond the celebrity buzz, what exactly is Water Memecoin? Lets find out… What is Water Memecoin: Water is a meme cryptocurrency built on the Solana blockchain, distinguishing itself by blending speculative appeal with charitable endeavors. Unlike many meme coins driven purely by market speculation, Water aims to leverage its platform for positive societal impact through philanthropy and global initiatives. In collaboration with the creators of BEER token, Water draws on the successful experience of its predecessor in navigating…
In a recent statement, Argentine President Javier Milei reiterated his support for using Bitcoin (BTC) and other currencies in the national economy. His vision promotes free competition of currencies, allowing citizens to choose their preferred monetary units. Bitcoin and Beyond: Milei’s Vision for Free Currency Competition in Argentina Milei’s statement responded to Gabor Gurbacs, former Director of Digital Asset Strategy at VanEck, who replied to his hello tweet with “Bitcoin for all.” Milei assured his administration would allow free competition for currencies, including Bitcoin and other units such as West Texas Intermediate (WTI) and British Thermal Units (BTU). Read more:…
Aurora Labs, a decentralized finance (DeFi) platform, has announced it is integrating the Bitcoin (BTC) network with the NEAR Protocol, as per the most recent updates shared with Finbold on August 13. The move follows the launch of a Bitcoin Light Client and Relayer, itself expected to boost Web3 interoperability and drive DeFi innovation. Aurora Labs’ Bitcoin Light Client Aurora Labs’ Bitcoin Light Client functions as a smart contract, enabling NEAR-based decentralized applications (dApps) to verify Bitcoin transactions and access the most current Bitcoin chain state. This is the foundation of the forthcoming Bitcoin bridge, which will allow the NEAR…
A savvy Bitcoin investor known as a “smart whale” has again entered the Bitcoin market with a substantial buying of 6,070 Bitcoins worth $395 million during a recent market dip. This marks the Whale’s first acquisition in over 18 months and follows a history of strategic buys and profitable sales of more than $1 Billion. Many in the crypto space believe that this could be the last chance to opt for Bitcoin at a discounted rate before it begins its bull run. Smart Buying Leads To $1B In Profit A savvy Bitcoin whale, whose activities are continuously tracked by blockchain…
Cubist is expanding its support for Babylon, a DeFi protocol enabling the staking of native bitcoin. The new release of CubeSigner, a leading key management solution, introduces policy-protected staking operations and anti-slashing mechanisms specifically designed for Babylon. This offering is expected to bolster the workflows of those building on top of Babylon, and help developers create new DeFi applications that are safer for end-users. Babylon is set to be first-to-market with a trust-minimized bitcoin staking solution, allowing developers to build liquid staking protocols, restaking protocols and other layered solutions that enable users to earn yield from natively staked BTC. Unlike…
Indonesia’s central bank plans to launch the second phase of its central bank digital currency (CBDC) trial this year, building on the success of the first phase from the first half of the year. The first phase focused on a wholesale CBDC (wCBDC) deployed on distributed ledger technology. The Bank of Indonesia (BI) partnered with local commercial banks and fintech firms, with the focus being mainly on the simple issuance, exchange and redemption of the digital rupiah. The second phase will center on integrating the digital securities ledger. In its payment system blueprint for the next five years, the central…
Bitcoin miners will need to capitulate before BTC can take off on a new rally, according to the popular on-chain analyst Willy Woo. Woo tells his 1.1 million followers on the social media platform X to look for compressions in Bitcoin hash ribbons when thinking about when to buy and hold. “I know it sucks, but BTC is not going to break all-time highs until more pain and boredom plays out. On the bright side, miners are capitulating and when that is through, it nearly always ends in a huge rally.” Source: Willy Woo/X Bitcoin hash ribbons attempt to identify…