Author: NBTC

This is a segment from the Supply Shock newsletter. To read full editions, subscribe. Eleven years ago this week, one of the first great Bitcoin documentaries, The Rise and Rise of Bitcoin, premiered at the Tribeca Film Festival. The film is rare in that it was made by someone with real skin in the game. It centers around Daniel Mross, a Pittsburgh-native computer programmer who began mining bitcoin in 2011 and went on to found Bitcoin-focused investment fund Maximalist Capital. Filmed by brother Nicholas between 2013 and 2014, when bitcoin was headed to $100 for the first time, Dan travels…

Ethereum returns to the spotlight: a recent $110 million move by a large investor could accelerate ETH’s push towards the $2,000 mark. In the last few hours, the Ethereum landscape has been shaken by a colossal OTC purchase. A whale — a term that indicates an investor with large amounts of cryptocurrencies — has acquired 30,000 ETH (about 54 million dollars) and Bitcoin for a total of over 110 million dollars through Wintermute, a platform known for Over The Counter operations. This move, executed through two transactions in USDC, highlights a silent accumulation strategy. When the market moves sideways and…

IOTA’s upcoming Rebased upgrade could be its most ambitious yet, replacing centralization with decentralization and unlocking smart contracts for a future-ready blockchain. On May 5, IOTA will activate Rebased, a protocol upgrade that marks the project’s most ambitious departure from its original architecture since its inception in 2015. More than just a technical milestone, Rebased appears to be a foundational pivot — one that replaces legacy components, modernizes the network stack, and reframes the network’s broader identity in the crypto landscape. Once branded as a “blockchain without blocks,” IOTA’s earlier value proposition hinged on the promise of a feeless, scalable…

Do you have the patience to wait 15 years before moving your crypto? One Bitcoin whale did, moving 50 BTC worth nearly $5 million that had previously sat untouched since July 2010. The address, which starts with “04ba30,” received the 50 newly mined Bitcoin in 2010 when BTC was worth less than $0.10 per coin. Now 15 years later, the whale—or a holder with a massive, valuable stash—performed its first transaction, sending out all 50 BTC worth $4.67 million at Bitcoin’s current price of $93,455. The transaction was first flagged on X by Bitcoin journalist and historian, Pete Rizzo. JUST…

Ethereum approaches major resistance at $1,865 amid resurging institutional support. Can ETH break through to $2,489? Ethereum is gradually gaining momentum as Bitcoin holds the $94k level. Currently, Ethereum is trading at $1,799, rising from its 24-hour low of $1,753. The biggest altcoin faces strong overhead resistance, with the confluence of multiple bearish factors. Will the bullish struggle near $1,864 lead to a positive outcome? Ethereum Price Recovery Faces Multiple Bearish Challenges Ethereum’s price trend on the daily price chart shows a bullish recovery run, challenging a long-standing resistance trendline. The recovery accounted for a nearly 13% surge last week.…

Cardano (ADA) founder Charles Hoskinson announced today a series of new developments and strategic partnerships aimed at expanding Cardano’s ecosystem and strengthening its position as a major player in the blockchain industry. Hoskinson revealed that Cardano is currently in talks with Ripple regarding a potential collaboration involving Ripple’s stablecoin, RLUSD. “Things are going really well with Ripple. We’re in talks with RLUSD,” he said, suggesting that deeper interoperability between the two blockchain networks could be on the horizon. In another promising development, Hoskinson said that Flare Networks, the team behind the FLR token, is interested in joining the Cardano ecosystem…

Capital poured into US-listed Bitcoin exchange-traded funds this week, with Tuesday alone witnessing nearly $1 billion in fresh cash. The rush propelled weekly inflows to $1.2 billion and total assets under management (AUM) to $103 billion, based on Bloomberg data. The investment deluge occurred while Bitcoin’s price rose above $93,000, reaching $93,700 – its highest since early March. BlackRock Fund Remains Top Dog Among Rivals BlackRock’s iShares Bitcoin Trust (IBIT) remains at the forefront with year-to-date inflows of $2.7 billion. The fund took in another $346 million last week alone. Ark Invest’s ARKB and Grayscale’s Bitcoin funds lag behind with…

Following a notable surge, Ethereum has approached a critical resistance zone around $1.8K and has begun losing momentum. Nevertheless, the emergence of a bearish divergence suggests a potential short-term corrective consolidation before the next bullish continuation. Technical Analysis The Daily Chart Following the substantial price increase as of late initiated by strong buying pressure at the critical $1.5K support level, ETH has reached a significant resistance zone near $1.8K. This upward displacement has resulted in the formation of a fair value gap, highlighting the presence of smart money on the buyers’ side. However, the $1.8K region coincides with a prior…

In the last month, the blockchain network behind the XRP cryptocurrency, the XRP Ledger (XRPL), has noted significant changes in user activity. According to data from XRPScan, the number of active XRP wallets (unique addresses performing XRP transactions) reached a high of 30,000 late last month. XRPL’s 30K active wallets: temporary spike or sustainable growth? However, it dropped to about 10,000 last week, indicating a combination of natural market cycles and growing interest in the cryptocurrency. This rise in active wallets is an important indicator of blockchain adoption. Usually, the more wallets perform transactions, the higher the real-world uses for…

A Bitcoin whale finished an extended cryptocurrency transaction by transferring 800 BTC worth $74 million back to Binance, according to recent blockchain information. This final deposit, made three hours ago, marks the end of a month-long process of unstaking and offloading 2,000 BTC that came from Binance withdrawals between April 10-12, 2024, when Bitcoin was trading at nearly $98,896. With that price, the whale originally invested $197.8 million. This $BTC whale deposited the remaining 800 $BTC($74M) to #Binance 3 hours ago, with a total loss of $25M.Between April 10–12, 2024, he withdrew 2,000 $BTC($197.8M) from #Binance at $98,896 and staked…