Author: NBTC
The 90-day and 52-week correlation coefficient between bitcoin and Nasdaq-listed chip maker Nvidia has risen above 0.80. The positive correlation is noteworthy as several analysts believe the surge in NVDA represents an AI bubble that could soon burst. Bitcoin (BTC) continues to move in tandem with Nvidia (NVDA) shares as some analysts question the surge in the Nasdaq-listed chipmaker’s valuations. The leading cryptocurrency by market value has pulled back over 8% from Thursday’s record high of $73,798. However, prices are still up 60% year-to-date, CoinDesk data shows. Nvidia has pulled back 9% from its lifetime peak of $974 but still…
TheStandard.io has joined forces with SushiSwap to introduce SUSHI as a novel collateral option within their smart vaults. This strategic alliance not only broadens the collateral choices available to users but also promises to enhance liquidity and bolster community engagement across the decentralized finance (DeFi) sector. The incorporation of SUSHI into TheStandard.io’s smart vaults presents a more diverse range of collateral possibilities. Users can now pledge SUSHI along with other established assets such as WBTC, ETH, ARB, LINK, GMX, RDNT, and PAXG, offering greater flexibility in managing their collateral portfolios and aligning with their investment preferences and risk tolerance. We’ve…
At the Blockchain Life 2024 conference in Dubai, Bybit CEO Ben Zhou emphasized the pivotal role of institutional investors in propelling the ongoing cryptocurrency bull market. Bybit, founded by Zhou in 2018, has risen to become one of the world’s top three exchanges by trading volume. Zhou shed light on the growing institutional interest in cryptocurrencies, stating, “From Bybit’s perspective, this bull market so far has been driven by institutions.” He revealed that since teaming up with third-party custodians such as Copper and Fireblocks, institutional capital inflows surged by 186% last year. Improved infrastructure and the approval of Bitcoin spot…
BTC is up, trading above $64,000 while ETH prices continue to decline. The CD20 is flat, trading at 2,174. Ether (ETH) was changing hands just above $3,000 during the opening hours of the Asia trading day as the CoinDesk Indices Ethereum Trend Indicator flipped negative, signaling a bearish shift in momentum. At the same time, bitcoin (BTC), is trading slightly above $64,000 after challenging it for most of the Asia trading morning. “Unexpected higher U.S. treasury yields, a stronger dollar, and geopolitical risks in the Middle East weighed down on crypto markets,” Jun-young Heo, a Derivatives Trader at Singapore-based Presto,…
Coinbase will list Shadow Token, the native cryptocurrency of the ShdwDrive, a high-performance decentralized data storage network. The largest crypto exchange in the U.S. announced that Shadow Token (SHDW) will be live on the platform from tomorrow if liquidity conditions are met. Following the announcement, Shadow Token immediately surged by 20%. The token has been up nearly 80% in a month. Coinbase will add support for Shadow Token (SHDW) on the Solana network (SPL token). Do not send this asset over other networks or your funds may be lost. Transfers for this asset are available on @Coinbase & @CoinbaseExch in…
After releasing a letter-of-intent to ‘acquire’ 24,800 bitcoins, penny stock Nilam Resources saw the price of its shares rocket and its market cap tap nearly half a billion dollars before collapsing to almost zero once the former CEO and president (who also worked as an SEC compliance consultant) called the company a “classic pump and dump.” However, the story doesn’t end there, and as of April 15, Nilam Resources has rebranded, started a private token sale, and deleted any trace of its old website. Unfortunately, this probably won’t be enough to stave off actions from regulators or law enforcement. Read…
The Forwarder, an innovation lauded by Aurora, has significantly contributed to the streamlining of blockchain integration. The principal application domains of Forwarder involve the bridging of assets from centralized exchanges, including Coinbase, Binance, and KuCoin, to virtual blockchain. The improved functionality of the ‘Forwarder’ connects users to a vast blockchain network, enabling developers to create remarkable products with it. An accessible and incorporated blockchain system is the distinguished advantage of Aurora’s innovative solution. The ‘Forwarder’ function eliminates the restriction that centralized exchanges impose on the transfer of assets to blockchain networks. Aurora’s innovative solution exemplifies the blooming ecosystem of decentralized…
According to Spot On Chain, a cryptocurrency analytics platform, Bitcoin ETF recorded a net inflow of $133 million on Thursday, March 14, 2023. This represents an 80.6% drop from the previous day’s inflow. 🚨 BTC #ETF Net Inflow Mar 14, 2024: +$133M• The net inflow dropped by 80.6% compared to the previous day.• The cumulative total net inflow after 44 trading days is $11.96B.• Despite remaining positive, the net inflow is at its lowest level in the past 8 trading days.… https://t.co/HCzX7H3Nat pic.twitter.com/jIdE3pp2Wt — Spot On Chain (@spotonchain) March 15, 2024 The analytics platform also reported a cumulative total net…
Crypto.com’s venture arm has scaled back its investment activity as the sustainability of surging valuations in the sector becomes less evident. Crypto.com Capital, a venture arm of the company of the same name which had $500 million available for investments in startups in the sector as of January 2022, has reduced its investment activity over the past 18 months, according to a Bloomberg report. Analysts at Dealroom noted a decrease in crypto.com investments since the beginning of 2023, compared to previous years, saying the firm made only four deals since the start of 2023, compared with 35 in the two…
A popular meme photo of a guy at a club yelling into a girl’s ear—about something that she doesn’t appear to be into—is going up for auction as an Ethereum NFT on Foundation. “Milk Edinburgh” received its name from the nightclub where it was taken—Milk, in Edinburgh Scotland. The picture was originally shared around the internet with a watermark of the club’s moniker on it, which is why the name stuck, and it’s since been widely used as an example of a “guy explaining” or “mansplaining.” The photograph was originally taken in 2018 by David Wilkinson—who along with the help…