Author: NBTC

After the Mt.Gox rehabilitation trustee, Nobuaki Kobayashi, announced the commencement of the repayments of creditors funds under the rehabilitation plan in July, crypto prices registered heightened volatility. The uncertainty of how the Mt.Gox customers and creditors could use the $8 billion sent shivers to the entire crypto market in fear of the worst. During the first round of Mt.Gox repayments, through different exchanges led by Kraken, the Bitcoin price dropped from $63k to hovering around $53k in two weeks. Mt.Gox Distribution of Funds Soon MT. GOX BTC ON THE MOVEMt. Gox emptied 4 of their wallets last night after receiving…

Cryptocurrencies continued their bounce from Monday lows on Wednesday, with layer-1 network Solana’s token (SOL) being the fastest horse during the rebound. The sharp relative move higher for SOL pushed it to an all-time high relative to ether (ETH) of 0.062, up 7.5% over the past 24 hours and 13.6% over the past week, according to CoinGecko. ETH also sunk to over a three-year low versus bitcoin (BTC), now more than reversing any relative gains since the SEC in May surprised nearly all by signaling its intent to approve spot ether ETFs. On the weekly timeframe that encompasses this weekend’s…

Ethereum ETFs flipped out of six weeks of negative flows with $85 million in inflows last week. Ethereum Foundation has sold 3,766 ETH worth $10.46 million in 2024. Ethereum could decline to $2,395 if it sustains an extended move below the $2,595 support level and key SMAs. Ethereum (ETH) is down 2% on Monday, struggling around the $2,595 key support level after the ETH Foundation continued its selling spree. However, the slow price movement in the past few hours isn’t reflective of the rising inflows across US spot Ethereum ETFs. Daily digest market movers: Ethereum ETFs see weekly net inflows,…

Gitcoin has announced that the twenty-first edition of its grants program, Gitcoin Grants 21, is officially live and will feature ecosystem rounds for Arbitrum and Celo. The Gitcoin Grants 21 program went live on Aug. 7 and will run until Aug. 21, with Arbitrum (ARB) and Celo (CELO) ecosystems featuring in this latest edition of the quarterly funding program. According to a blog post by the decentralized crowdfunding platform, Gitcoin Grants 21 will focus on governance, partnerships, and community empowerment. Besides the two ecosystem rounds, the 11 quadratic funding rounds in GC21 will also include nine community rounds. Across the…

Ethereum price is correcting gains below the $2,650 resistance. ETH is now trading near the $2,600 support and might face many hurdles. Ethereum started a downside correction below the $2,650 zone. The price is trading below $2,620 and the 100-hourly Simple Moving Average. There is a key bearish trend line forming with resistance at $2,630 on the hourly chart of ETH/USD (data feed via Kraken). The pair must stay above the $2,550 support to start a fresh increase in the near term. Ethereum Price Takes Hit Ethereum price struggled to stay above the $2,700 level. ETH started a downside correction…

Bitcoin has a high chance of soaring to a new high this year, according to a recently launched Polymarket poll. Polymarket users see BTC hitting a new record high Sixty-three percent of participants in the the poll believe that Bitcoin (BTC) will continue its uptrend and reach a new record high. The odds of this happening have risen from this month’s low of 42%. With Bitcoin trading at $63,840, it needs to rise by 15.6% to retest its all-time high of $68,777. This is possible as it has entered a technical bull market after rising over 21% from its lowest…

The world has significantly improved since crypto became mainstream. Through crypto, NFT projects, blockchain technology, and the Web3 universe, crypto enthusiasts will encounter many new experiences that will change how we view and use the online space. And if you are passionate about NFTs but don’t always feel that buying them is profitable, we’ve prepared some of the best NFT giveaways and airdrops that might catch your attention this month. Choose your favorite NFT giveaway or airdrop and discover what this industry offers. Table of contents 8 Top Free NFT Giveaways and Airdrops Ethereum NFT Drops Solana NFT Drops Base…

Robert Mitchnick, the head of digital assets at financial giant Blackrock, recently addressed the underwhelming performance of Ether-based exchange-traded funds, predicting that things are not going to change for the better anytime soon. Mitchnick has explained that investors are reluctant to get exposure to Ether since they find the cryptocurrency’s investment narrative to be more confusing. The BlackRock exec claims that they are “committed” to educate their clients about the largest altcoin. It’s all about perspective Even though Ether ETFs might seem like massive failures compared to the Bitcoin products that were introduced in early 2024, Mitchnick insists that their…

On Wednesday, Ethena Labs, the team responsible for the yield-bearing stablecoin project USDE, revealed its expansion to the Solana blockchain. This move brings USDE to the distributed ledger, with SOL now also being used as part of the stablecoin’s reserve backing. USDE Stablecoin Project Extends to Solana, Includes SOL Backing Despite witnessing redemptions totaling around $300 million in under two weeks, Ethena Labs proceeded with the Solana integration. “August 7th marks Ethena’s Solana integration,” Ethena Labs said on X. “USDE deployed on Solana thanks to Layerzero Labs OFT [and] SOL onboarded as a backing asset for USDE, subject to governance.”…

A recent development in the Bitcoin market has seen a significant accumulation by the whales. As per Lookonchain, a popular on-chain analytics firm, a couple of whales have withdrawn a cumulative amount of up to 3,463 $BTC with a value of $219M from the prominent crypto exchange Binance in the past twelve hours. The analytics provider disclosed this on its official social media account. Whales are accumulating $BTC!2 whales have withdrawn 3,463 $BTC($219M) from #Binance in the past 12 hours!Address:bc1q57rcscs6ztj0xnslwkt4nervxkpen07h9h2jnr2hkwlg3lwuljrsdwt2m212993NM9fV8dSSQgbWDZSBVgqtPw4DaAXS pic.twitter.com/Ux4YXKrZ20 — Lookonchain (@lookonchain) September 24, 2024 Bitcoin Whales Amass $219M in $BTC Through Big Withdrawals from Binance Lookonchain pointed…