Author: NBTC
A report from Firstpost America confirms that the Kingdom of Bhutan has approximately one-third of its gross domestic product in Bitcoin. The leading media outlet lauded Bhutan’s silent rise to relevance in the cryptocurrency scene after harnessing its abundant hydropower resources to mine the most valuable crypto asset. Bhutan is currently the fourth-largest government holder of Bitcoin, only behind the US, China, and the UK. Notably, Bhutan’s GDP for 2023 was $2.9 billion, up 4.5% from the previous year. Of this, 28.6% ($831 million) were proceeds from its crypto mining activities, as the nation reaped bountifully from its diversification into…
The struggles for Ethereum (ETH) have continued as more obstacles have started to emerge. Moreover, we have seen a pattern of notable selling from whales. This trend seems to continue with each passing day, putting more hurdles on the road for a potential Ethereum price rally. The selling pressure is increasing, and the price is continuing its sideways movement. Earlier today, two major ETH transfers were detected by Whale Alert, a major crypto tracking service. These transactions have caused worry among investors and the broader crypto community. In the first transfer, the whale sent 13,883 ETH from their private wallet…
Fenbushi Capital, Asia’s first blockchain-focused venture capital investment firm, has incurred losses after selling several cryptocurrencies. On Oct. 1, Lookonchain shared on-chain details showing that Fenbushi Capital had recently faced losses of up to 90% in some coins. The platform has now offloaded more tokens at a further loss. Fenbushi Capital dumps multiple coins After seeing several tokens decline from their all-time highs, the VC firm sold $5.14 million worth of digital assets at a loss. These assets included 219 Ethereum (ETH) worth over $576,000; 136,094 of EigenLayer (EIGEN) worth $514,000 and over 146,537 Uniswap (UNI) valued at more than…
Proposed over two years ago, the law recognizes cryptocurrency as virtual assets in the country, establishing the Central Bank of Uruguay as the regulator and overseer of companies seeking to offer cryptocurrency services. The law positions Uruguay at the forefront of Latin American countries that have already included crypto in their regulatory frameworks. Uruguay Enacts Cryptocurrency Law After Over Two Years of Discussion President Luis Lacalle Pou recently signed the 20.345 Law, a bill regulating bitcoin and cryptocurrency usage in the country. The law puts Uruguay in a privileged spot, offering clarity for companies that want to provide crypto-related services.…
Mercado Bitcoin, a leading Brazilian crypto exchange, will be the first customer of Ripple’s product in Brazil. use Ripple’s platform to improve its internal treasury operations between Brazil and Portugal. Ripple introduced its crypto on-demand liquidity (ODL) service in Brazil in August 2022 in partnership with Travelex Bank. Ripple, a provider of digital asset infrastructure, has partnered with leading Brazilian crypto exchange Mercado Bitcoin to offer businesses its managed end-to-end payments solution. Mercado Bitcoin use Ripple’s service to improve its internal treasury operations between Brazil and Portugal, Ripple said in a statement. The aim is to offer its corporate and…
Over the years of its existence, Bitcoin (BTC) has established a macro-rising trend that has given more investors confidence to predict its future. The flagship coin has in the past respected the four-year cycle, demarcated by the halving events. Having gained the confidence of retail trades and institutional investors, Bitcoin is now on the cusp of being adopted by all nation-states as a reserve currency. Moreover, Bitcoin price has registered higher returns than gold over time despite the latter leading to a bullish breakout. In the long haul, experts believe Bitcoin will be used to settle global national debts, which…
Ethereum (ETH) price is facing a critical moment as it hovers near strong resistance and support levels. Recent market metrics, including the Net Unrealized Profit/Loss (NUPL) and whale activity, suggest a cautious sentiment among investors. Traders are closely watching key price levels, as a breakout above $2,500 could lead to a rally, while failure to hold $2,000 support may result in a deeper correction. ETH NUPL Shows The Market Is Cautious Right Now The current Net Unrealized Profit/Loss (NUPL) for Ethereum stands at 0.29, indicating that a fair number of ETH holders are still in profit, but the market sentiment…
Changpeng “CZ” Zhao, once the crypto world’s golden boy, is trading his Binance crown for an AI investor hat. Fresh out of U.S. custody, the former CEO says he is now eyeing artificial intelligence, blockchain, and biotech as his next big bets. But is he? “[I] will continue to invest in blockchain/decentralized technologies, AI, and biotech. I am a long term investor who cares about impact, not returns,” CZ said in a written statement posted on his X account shortly after his release. gm, the food taste so good… And what a luxury to be able to have more than…
Meme coins appeared to stave off a brewing global financial contraction on Tuesday, with Ethereum token Pepecoin leading the pack. PEPE climbed over 22% to $0.0000007673 on Tuesday morning, perfectly recovering the losses it incurred on Monday. Just yesterday, assets across the board—crypto and traditional markets—plummeted largely due to broader geopolitical and financial troubles. The token, still worth a fraction of a cent, now sits at a market capitalization of roughly $3.22 billion. It is down some 35% in the last week overall. Other meme coins came roaring back today after taking massive hits at the start of the week.…
Virtual asset service providers (VASPs) in Australia will have to obtain financial services licenses under a new regulatory regime that some in the sector have criticized as ‘ambiguous.’ Australian exchanges have operated under a specialized regime for the industry, but the Australian Securities and Investments Commission (ASIC) plans to extend the framework to regard them as financial institutions. Speaking at a recent digital assets event, ASIC Commissioner Alan Kirkland said that the commission believes the country’s Corporations Act covers most major digital assets. This necessitates the inclusion of the exchanges that facilitate their trading under this Act. “ASIC’s message is…