Author: NBTC
After capitulating on March 19, Bitcoin recovered on March 20. However, while the crypto community expects more rapid gains, even above the all-time highs of around $73,800, Willy Woo, an on-chain analyst, thinks the coin will likely consolidate in the days ahead. SOPR Peaked At An Unusually High Level: Profit-Taking? Taking to X, Woo listed several on-chain metrics, some of which, while supporting prices, are countered by others that might slow down the uptrend. At the top of the list, the analyst notes how the Spent Output Profit Ratio (SOPR) reading is printed out. Related Reading: Leading The Pack: Solana…
Since the beginning of the year, PENDLE has surged by 502% to new all-time highs. This is indicative of its substantial growth amidst an increasing protocol activity. What Is Driving PENDLE’s Growth? Pendle Finance, an Ethereum-based yield trading protocol, employs a unique approach to yield farming by dividing assets into Principal Tokens and Yield Tokens. This framework enables users to trade tokens while earning yields as high as 47% on the underlying assets. Despite its inception in 2021, Pendle has recently witnessed a surge in adoption. This uptick can be attributed to heightened Ethereum liquid restaking activity and airdrops from…
MUMBAI, April 5 (Reuters) – The Reserve Bank of India (RBI) plans to use non-bank payment system operators, including third-party payment app providers, to make the e-rupee more accessible to retail users, it said on Friday. The RBI piloted its central bank digital currency (CBDC) in 2023 but only allowed banks to offer these tokens, which led to subdued transaction volumes. It has now proposed that non-bank payment system operators, which include third-party payment app providers like PhonePe, Google Pay and Paytm, offer the e-rupee through CBDC wallets. “This is expected to enhance access and expand choices available to users…
Cardano, a major blockchain platform noted for its scientific rigor and peer-reviewed research, currently sees its ADA coin ranked as the eighth largest by market cap, according to CoinMarketCap. Amid significant excitement surrounding its latest updates aimed at enhancing network performance, scalability and interoperability, Cardano (ADA) cryptocurrency has all the chances to solidify its dominance in the blockchain industry. These advancements are expected to have a considerable impact on the broader landscape of digital currencies and decentralized applications, emphasizing Cardano’s (ADA) ongoing significance in the sector. Alongside Bitcoin breaking all-time highs twice in a single week, Cardano’s price has also…
In a series of posts on the X social media network, Stuart Alderoty, Ripple’s chief lawyer, has once again taken aim at the U.S. Securities and Exchange Commission following recent comments made by Gurbir Grewal, the agency’s enforcement director. Grewal has pushed back against claims that the regulator is exceeding its authorities with enforcement actions while also “picking winners and losers” within the cryptocurrency industry. The SEC official dismissed these accusations as “verbal gymnastics,” arguing that the cryptocurrency industry simply is not willing to follow the same rules that apply to everyone else. He added that these pro-crypto arguments are…
Adelaide Oval, a landmark South Australian sporting venue, now allows AFL patrons to purchase food and beverages using crypto. This marks the first instance of such a payment option being offered at a major national stadium. A collaborative effort between Crypto.com, the Adelaide Crows Football Club, and fintech software firm DataMesh facilitates this initiative. It brings state-of-the-art payment technology and terminals to the venue. The announcement strategically coincides with the AFL’s 2024 Gather Round event, which is anticipated to draw thousands of fans across five scheduled AFL matches. The crypto payment service for fans will take place at the AFL’s…
The prominent Web3 tech firm OKX has made an exclusive investment in UTXO Stack in partnership with Cell Studio. As per the announcement, the firm’s investment arm OKX Ventures has allocated funds for the modular Bitcoin L2 blockchain launch forum UTXO Stack. The seed funding’s co-leaders included SNZ and ABCDE along with the other well-known participants like DRK Lab, Matrixport, etc. OKX Ventures Contributes to the Seed Funding of UTXO Stack for BTC L2 Expansion UTXO Stack leads the expansion of the BTC ecosystem by letting developers conveniently start Bitcoin L2 solutions. The platform has integration with the protocol RGB++…
Fox Business journalist Eleanor Terrett has taken to X to react to a recent claim that she was illegally offering financial advice regarding Bitcoin (BTC), Ethereum (ETH), and XRP (XRP). Notably, an X user who goes by the pseudonym Crypto Guy (@cryptoguy2714) made this claim. In a recent post, Crypto Guy accused Terrett of offering financial advice regarding BTC, ETH, and XRP “when she shouldn’t be.” The user claimed that Terrett first got people to buy XRP and also lured them to acquire BTC and ETH. Consequently, he believes the authorities should sue Terrett for allegedly engaging in this act…
KuCoin announces a new prediction challenge centered around top crypto assets like XRP, BTC, ETH, and SOL. Participants will have a chance to share in a prize pool of $30,000. The leading exchange disclosed the details of the prediction challenge in a post today on X. 🔮 #KuCoin Prediction Challenge! Predict which coin – #ROOT, #BTC, #ETH, #SOL, or #XRP – will lead to price gains! 📈 🗳️ Correct guesses dip into the daily $5,000 pool! 🎉 Grand Prize: Ace the most predictions for a slice of $10,000!#CryptoChallenge #WinBigWithKuCoin — KuCoin (@kucoincom) April 4, 2024 Details of the Contest The…
The Bitcoin halving—the quadrennial event that slashes the rewards miners earn for supporting the network—looked to be on target for April 20 (4/20) as of Valentine’s Day last month. And at the time, Bitcoin investors were praying for a new all-time high price of $69,000. Ahem. Just over a week ago, however, the halving target had moved up to April 15, and Bitcoin had already blasted past its all-time price mark to $71,000. Meme number dream ruined? Well, only partially—because now the Bitcoin halving appears to be set for April 20 again. Will the latest estimate hold true? Only time…