Author: NBTC
DeFi Technologies could mirror Solana’s breakout, offering potential gains for investors as it nears major resistance levels. DeFi’s 2,300% surge since October 2023 suggests it might need more consolidation before a major price moves upward. Once DeFi completes its consolidation, it could outperform Solana with potential returns of 2-3x, reaching around $12. Noah a crypto analyst, recently highlighted DeFi Technologies ($DEFI) as a stock worth monitoring in bullish crypto. Like Solana ($SOL), he thinks DeFi Technologies is well-positioned to capitalize on the increasing interest in cryptocurrency. For institutional and ordinary investors looking to gain exposure to the cryptocurrency market without…
Ethereum (ETH) funding rate has hit the highest level since March following a price increase above $3,400 earlier today. However, while ETH’s price has since dropped, the bullish sentiment around the altcoins has remained elevated. This renewed optimism also indicates that traders believed that a new all-time high could be underway. But historically, this kind of hike in the funding rate spells trouble. Ethereum Overheated as $200 Million Coins Enter Exchanges Like other cryptos in the market, ETH’s price has recently registered a double-digit increase. Today, the altcoin rose as high as $3,445 before it dropped to $3,256. Following the…
According to community figure Luke Thomas, the XRP community could see several impactful developments for both Ripple and XRP in the coming months. He has laid out his predictions for the next three to nine months, projecting major events that may solidify Ripple’s position in the finance scene and bolster XRP growth. His commentary comes on the back of Donald Trump’s recent win in the U.S. presidential election. RLUSD, XRP ETF, Ripple v. SEC Settlement Thomas anticipates the first event will be a set of new stablecoin regulations that could enable Ripple to launch its upcoming stablecoin, RLUSD. Notably, Ripple…
The Central Bank of Brazil is preparing to open the cryptocurrency market to traditional finance institutions, which will be able to operate in this industry with clarity after the enactment of the upcoming regulation. Small crypto startups might face challenges in regularizing their situation due to the high bar this framework will impose. Central Bank of Brazil Drafts Regulation Helping Traditional Finance Enter Crypto Brazilian authorities are preparing to lay the groundwork to allow traditional finance (tradfi) institutions, such as banks, brokerages, and investment platforms, to enter the cryptocurrency market. The Central Bank of Brazil is set to approve stringent…
Recently, Lookonchain, a blockchain analytics platform, has pointed out large transactions related to DWFLabs, a popular digital asset management and trading firm. Recently, DWFLabs received an additional 4.14 billion $X tokens, the approximate value of which is $308,000. It can also be observed that this transaction is preceded by other deposits of a massive 89.7 billion $X, which is valued at $6.67M. 10 minutes ago, @DWFLabs received another 4.14B $X($308K). #XEmpirePreviously, @DWFLabs had received 89.7B $X(6.67M) and deposited it in #Kucion, #Bybit, and #OKX.https://t.co/dC7F80BXT2 pic.twitter.com/ZKhq5UAemm — Lookonchain (@lookonchain) November 6, 2024 The increase in the amount of $X tokens owned…
Ethereum price extended its increase above the $3,220 resistance. ETH is now consolidating and facing hurdles near the $3,450 resistance. Ethereum started a fresh increase above the $3,120 resistance zone. The price is trading above $3,150 and the 100-hourly Simple Moving Average. There is a connecting bullish trend line forming with support at $3,220 on the hourly chart of ETH/USD (data feed via Kraken). The pair could continue to rise if it remains stable above the $3,150 zone. Ethereum Price Faces Hurdles Ethereum price started a fresh increase above the $3,000 resistance like Bitcoin. ETH was able to climb above…
Bybit, the second-largest crypto exchange by trading volume, has teamed up with Aptos (APT), the Layer-1 (L1) blockchain network, to launch an exclusive APT Ecosystem Airdrop, as per the most recent updates disclosed to Finbold on Thursday, November 7. Meant to empower Web3 creators and energize the sector, the airdrop comes with 18,000 APT tokens up for grabs. The Bybit APT Ecosystem Airdrop Hosted on Bybit’s Airdrop Arcade, the campaign is an opportunity for Bybit to showcase its commitment to providing top-tier blockchain opportunities and building a more decentralized ecosystem. As such, the airdrop will serve as an open invitation…
The Republican Party will keep the U.S. House of Representatives for the next two years, raising hopes for comprehensive crypto legislation in the next Congress and securing a Republican trifecta for at least the next two years. Republicans already won the White House with Donald Trump’s reelection, and flipped several Senate seats for a majority in the chamber of Congress during last week’s election. The Associated Press projected that the party secured at least 218 seats late Wednesday. The House of Representatives has been the legislative body to move most crypto legislation at the federal level, particularly in the last…
On Monday, bitcoin hit a high note, climbing past the $70,000 threshold for the first time since late July, peaking at an intraday high of $70,218 per coin. Bitcoin Hits New Heights: The Market Shift Behind Today’s $70K Push By 6:10 p.m. ET, bitcoin (BTC) had climbed 2.6% against the U.S. dollar, hitting the $70,218 mark. As of 8:10 p.m. ET, the price cooled slightly, hovering at $69,723, just under that $70K psychological barrier. Notably, bitcoin hasn’t revisited the $70K range since July 28, 2024. The week ahead is loaded with impactful events, including the U.S. election on Nov. 5,…
Ethereum’s recent price action has captured market attention, riding an 8-day bullish streak with one brief bearish interlude. After bouncing off a crucial support zone near $2,350 on November 4, the ETH token has soared by over 46% in just a few weeks, with its current price hovering around $3,270. The rally appears to have fueled positive sentiment as investors watch closely to see if Ethereum can break through the resistance levels highlighted in the technical chart below, particularly the “Bulls Target” zone above $3,900. In a backdrop marked by high volatility, the cryptocurrency’s upward momentum was backed by increased…