Author: NBTC

Ethereum’s valuation against Bitcoin (ETH/BTC) has reached a new low of 0.03508, at the time of writing, marking its lowest level since April 2021. ETH/BTC Chart (TradingView) This decline to a 3.5-year low has intensified discussions around Ethereum’s market cycle and its potential approach to its lower logarithmic regression trend line that has historically provided support during bearish phases. Analyst Benjamin Cowen suggests that ETH could reach this level in the coming weeks before 2025, as part of a broader cycle reset. This low aligns with patterns observed in 2016 and 2019, where Ethereum experienced significant drops before finding stability…

A well-known crypto trader with the pseudonym Sensei insists he’s shorting XRP, branding it a shitcoin despite the launch of the Grayscale XRP Trust. For context, leading digital asset manager Grayscale Investments recently launched its XRP Trust. The development came on the back of the final ruling in the Ripple v. SEC lawsuit, which lasted for nearly four years. Despite the possibility of an appeal, Grayscale moved forward with the launch. This XRP Trust was the first of four steps toward the introduction of an XRP ETF. Grayscale followed the same cycle for its Bitcoin and Ethereum ETFs. Just like…

John Deaton secures major endorsements from crypto leaders like Elon Musk and Mark Cuban in his Senate campaign. Deaton emphasizes clear regulations to support the growth of the cryptocurrency industry in his political platform. Recent polling indicates Senator Warren holds a vital lead over Deaton in the Massachusetts Senate race. Several prominent figures in the cryptoc space, including Brad Garlinghouse, the CEO of Ripple, have endorsed attorney John Deaton’s bid against Elizabeth Warren for the U.S. Senate. He went on praising Deaton’s efforts and called him a strong advocate for XRP and other digital assets while urging voters to support…

Among the names that dominate the transition to the digital world, we find giants like BlackRock and Fidelity, which are making significant strides in purchasing Bitcoin and launching investment products linked to the cryptocurrency. One of the most remarkable movements in this field is BlackRock’s Bitcoin ETF, known as IBIT, which recently set a new record with a daily inflow of a whopping 875 million dollars on October 30. This institutional interest shows no signs of waning and is changing the cryptocurrency landscape, attracting the attention of private and institutional investors from all over the world. BlackRock and the IBIT…

DeFi TVL reached $192 billion in 2024, marking the highest level in 15 months and signaling renewed growth. RWA now account for 3.69% of DeFi’s TVL, with MakerDAO leading the asset integration trend. The DeFi sector has experienced significant growth, with a tremendous increase in Total Value Locked (TVL) since the explosive time known as the ‘DeFi Summer’ of 2020, according to IntoTheBlock. For decentralized finance, this era was momentous and attracted the interest of investors all over. Following that summer, changing investor sentiment, regulatory uncertainty, and market conditions caused variations in TVL in the DeFi space. But in 2024,…

In the last few hours, an enormous sum in Ethers (ETH) was moved to derivatives exchanges. Typically, this is a signal of a downturn, or, at least, increased volatility, CryptoQuant’s verified author says. 82,000 Ethers (ETH) on their way to exchanges, expect volatility Ethereum (ETH), the second-largest cryptocurrency, witnesses a record-breaking inflow of liquidity into derivatives exchanges. Today, Nov. 5, 2024, over 82,000 Ethers (ETH) were moved to crypto contracts’ trading services. Such estimations were shared by CryptoQuant’s verified author, who goes by @3AMRTAHA_ on X. In equivalent, this massive transfer is equal to over $200 million. This is the…

Financial pundit Vandell Aljarrah recently offered a straightforward analysis of how the growing utility of XRP could drive its price higher. Aljarrah’s insights highlight the crucial role of liquidity and institutional adoption on XRP’s market dynamics. Moreover, it argued the impact of Ripple Payments (formerly On-Demand Liquidity (ODL). Liquidity: The Driving Force Aljarrah emphasized that liquidity remains a central factor in driving asset prices during bull markets and will continue to do so in the long run. However, he points out that the increasing utility of XRP will bring more liquidity into the system, creating sustainable growth over time. Institutional…

This is a segment from the Forward Guidance newsletter. It’s Election Day Eve! I certainly don’t envy the campaign workers (or the candidates) for that matter, during these crucial final hours. The Blockworks news team will be working late tomorrow providing you with all the updates on the most influential races and market moves. But for now, here’s a quick preview of a key Senate race I’ve been following closely. Senator Sherrod Brown will face off against Republican challenger Bernie Moreno, who is vying for his US Senate seat. Brown, the current chair of the Senate Banking Committee, has largely…

Bitcoin (BTC) closed October with a strong 11% gain, marking its second consecutive green monthly close, although it fell short of ‘Uptober’ expectations. The month opened with a sharp dip to $58,855, which bulls quickly leveraged as a springboard for a rally, driving BTC near record levels. Despite a modest pullback on October 31, BTC rebounded above $70,270, ending the month on a strong note and leaving investors on alert for potential buying opportunities as November kicks off. As of press time, Bitcoin was trading at $71,405, with a modest 0.5% gain over the past 24 hours and a monthly…

Ethereum (ETH) price is showing signs of weakening strength as polls open across most of the US. Despite a 24% surge in trading volume over the past 24 hours and a modest 1% price uptick, technical indicators suggest a potential downturn. Here’s a closer look at the factors behind this analysis. Ethereum to Remain “Under” Readings from the altcoin’s Super Trend indicator reflect Ethereum’s weak price action. At press time, its red line rests above Ethereum’s price, confirming the potential downward trend. This indicator helps traders identify the prevailing market trend and potential entry or exit points. It detects changes…