Author: NBTC

Bitcoin (BTC) is on a six-month bear market, down-trending from March’s $73,800 all-time high to as low as $49,100, but this trend could shift as signals of a bull run surge on the horizon. Recently, different analysts have commented on a clear Bitcoin price downtrend made of lower highs and lower lows. Alan Santana mentioned how charts are mostly bearish, later setting his target at $40,000, warning of a crash. Credible Crypto shared a similar yet more optimistic stance, saying Bitcoin is not out of the woods – requiring a shift. This shift, however, appears to be nearing, according to…

Cardano founder Charles Hoskinson announced that Prism has become Hyperledger Identus, a decentralized identity framework. Hoskinson highlighted the importance of self-sovereign identity (SSI), where users control their own identity without being commodified by centralized entities. Hyperledger Identus is an open-source identity framework under the Apache2 license. Cardano’s research wing, IO Engineering, is developing this identity framework with community contributions. It forms the backbone for key Cardano products like Midnight, RealFi, and Lace, which use it for their identity needs. Hoskinson said identity should improve the user experience without turning individuals into the product. Hoskinson’s comment aligns with Cardano’s emphasis on…

Alexander Grieve, Paradigm’s VP of Government Affairs, detailed what is wrong with the US Securities and Exchange Commission’s (SEC) policies. It marks the second dissection that Paradigm, an investment firm known for throwing money behind many of the crypto industry’s mainstays, has made of the infamous securities regulator. US SEC’s Hand Always Ready To Hit Wells Notice Buzzer Grieve slams the US SEC for “carpet-bombing” the crypto industry in the name of “investor protection.” This includes issuing Wells Notices against anything value-adding that sprouts in the crypto market. “Under this Chair, and this Enforcement Director — if you have built…

Jeff Park, head of alpha strategies at Bitwise Asset Management, is convinced that there is zero chance that Bitcoin ETF options will end up reducing the volatility of the underlying cryptocurrency. As explained by Park, money is supposed to create a tradeoff between price and quantity. Central banks manipulate the money supply in order to ensure price stability. On the other hand, Bitcoin’s total supply is hard-capped at 21 million coins. However, its holders should relinquish the price guarantee, which means that they will have to deal with high levels of volatility. A massive development On Friday, the SEC greenlit…

Today, enjoy the Lightspeed newsletter on Blockworks.co. Tomorrow, get the news delivered directly to your inbox. Subscribe to the Lightspeed newsletter. Whenever a big name in the financial world saunters into blockchain, a healthy dose of skepticism is warranted. Institutional blockchain initiatives can oftentimes be more about firms saying they’re doing something than about actually doing something. One initiative that I’ve been trying to tease apart the seriousness of is the “finternet,” a forward-looking financial system being championed by some of the contributors to India’s UPI digital money system. The Bank for International Settlements penned a paper with the financial…

Two U.S.-regulated, dollar-denominated prediction markets began taking bets on the presidential race this week, with a month to go before Election Day. Kalshi, which fought a long legal battle with the Commodity Futures Trading Commission to offer election contracts in the U.S., launched its presidential markets on Friday, following Wall Street powerhouse Interactive Brokers’ (IAB’s) ForecastEx, which did so the day before. So far volumes are modest at both CFTC-supervised exchanges, with $344,101 worth of contracts traded on Kalshi and $346,000 on ForecastEx. By comparison, more than $1.2 billion has been staked on the race between Kamala Harris and Donald…

Sandbox shared the full guide for Alpha season 4. This season’s battle pass will have a 30-level system. Each level will be achieved based on earned EP. Players who are Alpha Pass holders can earn 13 times more SAND than non-holders. The season will kick off on October 9 at 2 pm UTC. It will partner with 40 major brands with a reward pool worth $2.5 million in its original currency, SAND. 📣 The Alpha Season 4 Guide is Here! Read the TL;DR thread below & dive deeper into the full guide 👇 https://t.co/OFsq1Lo8BR 📖 How the Battle Pass progression…

A widely followed crypto analyst says that the Ethereum versus Bitcoin (ETH/BTC) pair is on the cusp of printing a cycle bottom. In a new video update, crypto trader Benjamin Cowen tells his 813,000 YouTube subscribers that all altcoins will eventually bottom out against the crypto king and it appears as if ETH is poised to stop bleeding against BTC. But Cowen says Bitcoin’s dominance level – or the ratio of BTC’s market cap compared to the market cap of all other crypto assets – is still on the rise, suggesting that ETH/BTC can still witness a leg down. “I…

Among the new NFT projects, Bitcoin Puppets gained the most popularity and took the lead by experiencing $392.85K in daily traffic through 46 sales. Phoenix Group collected the data with the help of DappRadar. It covered the daily activity of various NFT collections and pointed to Bitcoin Puppets as leaders. The increase in traffic shows that more and more people are interested in such digital assets. #NFT MARKET OVERVIEW TOP COLLECTION #BitcoinPuppets – 24H Volume $392.85K TOP SALE… pic.twitter.com/eJ2G9O1uw2 — PHOENIX – Crypto News & Analytics (@pnxgrp) October 7, 2024 Top Performers in the NFT Space: Bitcoin Puppets Leads After…

Sonic Labs has revealed crucial details regarding the upcoming S Token, which is set to bolster user involvement on their platform. Scheduled for December, the airdrop will distribute a total of 200 million S Tokens to early network users, implementing a deflationary strategy aimed at increasing the token‘s long-term value. Contents hide 1 What Are the Airdrop Mechanics? 2 How Does the Burning Mechanism Work? What Are the Airdrop Mechanics? The airdrop will reward users with 25% of their allocated tokens immediately upon request, while the remaining 75% will be subjected to a nine-month vesting period via an ERC-1155 token…