Author: NBTC
Bitcoin’s dominance nears 60%, marking 800 days of sustained growth in market share. A drop below the 57% level could signal an altcoin resurgence against Bitcoin. Current trends show strong investor preference for Bitcoin over altcoins. The BTC.D index depicting the market dominance of bitcoins preserves a bullish run, for almost 800 days. At the time of writing this score floats in the area of 60% which indicates dominance of Bitcoin in the market of cryptocurrencies. Pundits are expecting the index to possibly drop sometime soon to give the altcoins a fighting chance to push Bitcoin down. Key Thresholds and…
Ethereum, the second largest cryptocurrency by market capitalization, surpassed the $3,000 mark in today’s trading session, capping three days of gains. At the time of writing, ETH was up 4.46% in the last 24 hours to $3,051 after reaching intraday highs of $3,061. The gain comes as Bitcoin hits another all-time high, reaching $77,312 in Friday’s trading session. Notably, Ethereum outperforms Bitcoin in daily and weekly gains, which are 5% and 22%, respectively, compared to Bitcoin’s 1% and 10% advances during the same span. As Ethereum gains traction in the market, not everyone is fully convinced of a continued rally.…
The viral Telegram Game Catizen’s $CATI memecoin token launch has the entire community excited. However, it is the Gate.io PreMint event that is buzzing among the users as the tokens will finally be distributed. The PreMint is designed and launched in such a way that it attracts more users to the Catizen ecosystem, and would allow the members to have a significant share of the $CATI tokens for the community to gear up for its upcoming initiatives. The $CATI #PreMint on https://t.co/8kWqgEeplL is heating up! 🚀PreMint with just one click to secure your 43% #Catizen ecosystem airdrop rewards in advance!…
The Governor of the Bank of England (BoE), Andrew Bailey, has dropped further hints that the United Kingdom central bank could be edging towards a digital pound for both wholesale and retail payments during an October 26 speech. Speaking at the Group of Thirty’s 39th Annual International Banking Seminar, Bailey emphasized the need to modernize payment systems, particularly cross-border and wholesale payments, by harnessing digital technology. “Harnessing digital technology to improve strikes me as having real potential, say in areas like solving late payment for firms by enabling automatic release of funds when goods are delivered and more widely using…
The recent surge in Bitcoin price appears to align with a shift in investor behavior, according to a CryptoQuant analyst known as ‘crypto sunmoon.’ In a post on the CryptoQuant QuickTake platform, the analyst observed that the current bull market is driven by leveraged bets, particularly in derivatives markets. This trend is noteworthy as it contrasts with past market cycles where increased deposits often accompanied BTC bull runs to spot exchanges. Leveraged Bets’ Role in Bitcoin Price Growth Elaborating further on leverage bets involves using borrowed funds to multiply the size of an investment. For example, with 2x leverage, a…
According to on-chain data flagged by Onchain Lens, an ETH initial coin offering whale has begun liquidating its ETH assets held for 8 years. The ETH ICO whale recently sold 3,367 ETH worth $10.16 million at the current price of $3,032, sparking conversations about the future of Ether. A whale wallet believed to have participated in ETH’s initial coin offering has begun liquidating ETH holdings after 8 years of dormancy. Although the wallet has liquidated a substantial amount of its ETH holdings, the whale still holds a significant amount of ETH. Data from Ethereum’s blockchain explorer Etherscan indicates the wallet…
IOTA completed the final phase of the European Blockchain PCP as one of the three finalists, setting the network up for a defining fourth quarter of 2024. The network has been pushing to make a mark in DeFi, where TVL hit $5 million this month, with a prospective integration with Uniswap’s DeFi network a potentiaal gamechanger. It’s been a great year for IOTA. In the recent months, it has completed its final phase of the European Blockchain Pre-Commercial Procurement pilot while its DeFi TVL hit a new record this month, setting it up for a bullish fourth quarter of the…
The bankrupt FTX exchange has filed a lawsuit against Ryan Salame, the former co-CEO of its Bahamian subsidiary, seeking to recover approximately $98.8 million in cash and crypto, according to a Nov. 4 court filing. The failed firm accuses Salame of knowingly assisting other executives—most notably, founder Sam Bankman-Fried—in breaching fiduciary duties and misappropriating customer assets. According to FTX: “Despite Salame’s concerted efforts to obscure his receipt and expenditure of misappropriated Debtor assets, it is evident that Salame reaped substantial benefits from his role in ‘perpetrating aspects of the interrelated frauds that Bankman-Fried carried out at both companies.’” The exchange…
A huge development was recorded on October 30, 2024, when BlackRock, the largest asset manager in the world, purchased 8,805 Bitcoin (BTC). This large transaction, worth roughly $630M, is the largest single-day Bitcoin purchase by BlackRock in the past seven months, according to blockchain analytics firm Lookonchain. The recent purchase takes the total Bitcoin holdings to 417,058 BTC, equivalent to $29.84B. BlackRock bought another 8,805 $BTC($630M) yesterday and currently holds 417,058 $BTC($29.84B).This marks #BlackRock’s largest single-day BTC purchase in the past 7 months.https://t.co/kqNUqHBiTnhttps://t.co/D4gLhHvTvg pic.twitter.com/Mp6dDv43vb — Lookonchain (@lookonchain) October 30, 2024 A week ago, Blackrock acquired an additional 4,869 Bitcoins, valued…
Ethereum (ETH), the second-largest cryptocurrency by market value, has just surpassed $3,000. According to CoinMarketCap, Ethereum reached a high of $3,050. This is the first time since Aug. 2 that Ethereum has hit this level. Comparatively, ETH has gained over 20% in the past week, better than Bitcoin’s (BTC) 10% rise. ETH to reach its ATH soon This increase is due to several factors. One key factor is the changing macroeconomic outlook in the United States. With a growing shift toward positive regulation in the U.S., more people may now use blockchain technologies, decentralized finance (DeFi) and other applications in…