Author: NBTC
The past ten days or so went quite positively for bitcoin as the asset added almost ten grand within this timeframe, mostly fueled by the US Federal Reserve’s decision to reduce the key interest rates. However, certain social metrics suggest that the cryptocurrency’s run could be over, at least in the short term. FOMO to Halt BTC’s Uptrend? It was just last Wednesday, September 11, when bitcoin’s price tumbled hard after the US CPI numbers came out. At the time, the asset slumped to $55,500. However, it went on the offensive in the following days amid continuous speculation about the…
Crypto custodian Hex Trust has teamed up with decentralized finance protocol Clearpool to launch Ozean, a blockchain platform focused on real-world asset yield. Hong Kong-based Hex Trust and DeFi credit protocol Clearpool announced the collaboration via X. They also shared the news in a blog post published on Oct. 8. According to the two platforms, the RWA yield platform Ozean is backed by Optimism (OP) and powered by the CPOOL token. Read more: DeBridge introduces Hooks for real-time data transfer across DeFi Ozean set for traction in RWA space Ozean will leverage Hex Trust’s regulated infrastructure and institutional clients, alongside…
Amid the ongoing market uncertainty, Ethereum (ETH) has reached a critical juncture, as highlighted by market analyst Ali Martinez. In a recent analysis on X, the market veteran pointed out that the $2,300 support level could determine the future price trajectory of Ethereum, marking either the beginning of a strong rally or a significant decline. He shared a 1-week chart to corroborate his claims, showing Ethereum’s recent price action moving within a rising channel over the past months. Ethereum’s Crucial Support The chart shows that Ethereum is holding well within an ascending channel, with the price gradually approaching the upper…
Microstrategy’s stock is expected to soar by 64%, fueled by its bold bitcoin investment strategy, according to Bernstein analysts. Michael Saylor’s leadership and the company’s vast BTC holdings, valued at $16 billion, have played a pivotal role in its performance. However, challenges such as net losses and bitcoin volatility could complicate this forecast, despite a long-term target of $1 million per bitcoin by 2033. Microstrategy’s Stock Forecast: A Bitcoin Bet With Big Risks Software intelligence company Microstrategy (Nasdaq: MSTR) is expected to see its stock could climb by 64% to $290, driven by its aggressive bitcoin strategy, according to an…
Cryptocurrency fund manager Bitwise Asset Management has filed for an XRP Spot ETF in the United States, in a move that Ripple supporters see as a significant development. The filing comes amid Ripple’s ongoing legal battles with the U.S. Securities and Exchange Commission (SEC), which has accused the company of raising $1.3 billion through unregistered XRP sales. XRP Spot ETF Application Is a Prep for Trump’s Possible Victory, According to Analyst In 2023, a court ruling found that XRP is not a security when traded on public exchanges. However, institutional sales of XRP were deemed to violate securities laws because…
Infinex, a newly launched platform that aims to make it easier for DeFi applications to use across multiple blockchains, has selected Wormhole as its primary multi-chain infrastructure provider. Founded by Synthetix creator Kain WARWICK, Infinex provides a simplified interface that aims to abstract many of the complexities associated with using DeFi protocols across multiple blockchains, such as managing multiple wallets, paying gas fees, and using cross-chain bridges. The total value locked is over $125 million. The partnership marks the beginning of a deep, multi-faceted collaboration, with more integrations in the works and additional features set to roll out in the…
According to market analysts, Bitcoin and gold have both rallied in recent days on the back of increased global liquidity, central bank balance sheet expansion and the Fed’s recent rate cuts. Bitcoin has risen 7% in the last five days, surpassing $64,000 for the first time since August, while gold has also hit a new record this year, reaching $2,600 per ounce. Charlie Bilello, Chief Market Strategist at Creative Planning, noted that for the first time since Bitcoin’s inception in 2009, both Bitcoin and gold were among the best-performing assets of the year. Analyst James Van Straten attributes this outperformance…
Ethereum maintains over 50% of the total blockchain TVL, largely due to its vast DeFi ecosystem and smart contract capabilities. Tron has rapidly expanded its TVL through its focus on decentralized finance, solidifying its position in the crypto market. BNB appeals to developers and users for its high transaction speed and low fees, making it a strong contender in DeFi. In this highly developing area of DeFi, many blockchains are competing to be the king among them for offering special features, scalability, and low cost. TVL is an important metric that measures how much value has been locked into these…
Ethereum (ETH) price has recently experienced a 13% decline, with prices dipping towards the end of September. Despite this drop, Ethereum is currently holding strong above its bear market support floor, suggesting that the cryptocurrency may be poised for a recovery. Investors are now looking for bullish signals that could push ETH beyond the six-week barrier, bringing new opportunities for price growth. Ethereum Investors Are Resilient Ethereum’s long-term holders (LTHs) are showing renewed strength, as indicated by the Liveliness metric. This indicator tracks LTHs’ behavior, declining when they accumulate and increasing when they liquidate their holdings. Currently, the LTHs are…
Palau’s government in partnership with Soramitsu and Japan’s ministry has launched a blockchain-based savings bond prototype aimed at enhancing domestic investment growth. Palau is launching a blockchain-based savings bond system developed in collaboration with Japanese blockchain firm Soramitsu and Japan‘s Ministry of Economy, Trade and Industry to provide citizens with investment opportunities in domestic infrastructure projects. In a Tuesday press release on Oct. 8, Soramitsu said the so-called “Palau Invest” initiative seeks to empower citizens by providing them with a new means to invest in national projects while earning yields from those investments. Based on the SORA v3 Hub Chain’s…