Author: NBTC

On-chain data shows Ethereum whales have sold around 12 million in the cryptocurrency within the past year and have shown no signs of slowing down. Ethereum Whale Holdings Have Been In Constant Downtrend Since 2020 In a new post on X, analyst James V. Straten has discussed how the Bitcoin and Ethereum whales have shown some stark contrast in their behavior. Here is the chart that the analyst has shared, which compares the trends in the holdings of these humongous holders for the two assets over their entire history: How the holdings of the whales differ between the two cryptocurrencies…

Ethereum prices might be stagnant at spot rates, weaving around the $1,540 and $1,560 zone, looking at technical charts. However, amid this period of consolidation and holders worrying about Ethereum’s prospects, Kaiko notes that the coin’s open interest has been gradually rising since September 2023. Ethereum Open Interest Rising: What Does It Mean? As of October 10, Kaiko observes that there are more than 2.2 million contracts, and the number has been rising steadily over the past few trading weeks. With increasing open interest, it can hint that bulls are in the equation, which may support prices now that prices are under…

The Ethereum price saw a notable price plunge on Monday when the Ethereum Foundation reportedly started selling coins. This plunge, in turn, triggered a series of liquidation events that have seen ETH traders suffer massive losses in the last day. Ethereum Liquidation Volumes Cross $30 Million. By Tuesday, October 10, the Ethereum liquidation numbers triggered by the price crash ramped up quickly to cross the $32 million market. As expected, long traders suffered the majority of the losses with Coinglass data pointing to 87.61% of all ETH liquidation volumes coming from long traders. This meant that of the over $32…

Bitcoin analysts eagerly scrutinize the charts as November approaches, hoping to gain insights from past cycles. Historically, November has always been significant for the cryptocurrency market, as BTC usually gains value, affecting other coins.  According to crypto analyst Miles Deutscher, November promises to be a pivotal month for Bitcoin enthusiasts and investors. Bitcoin’s Ongoing Sideways Trend Hints At Potential Bullish Shift In November Market experts suggest that Bitcoin’s stagnant price movement might transition to a bullish trend in November. According to them, this could occur if it behaves similarly to past cycles before a halving event.  For instance, on October…

The price of Ethereum has experienced a notable decline following a major Ether sale this week. The unexpected decrease has left the crypto community anxious about the stability of the world’s second-largest cryptocurrency and the long-term effects of the decline.  Ethereum Price Drops After Large-Scale Ether Swap On Monday, October 9, the price of Ethereum declined following an extensive Ether swap by the Ethereum Foundation, a non-profit community-run organization dedicated to enabling better human coordination.  The Ether transaction which took place on Uniswap, a decentralized crypto exchange platform, saw the ETH price drop 5% from its daily high of $1,635…

Bitcoin’s volatility has increased to 340%. While this dates back to October 2, 2023, it shows that the month will be better for BTC. The effect is such that the price is trading positively at $27,664.40, an increase of 0.25% in the last 24 hours. Most importantly, Bitcoin seems to have changed its priorities and tracks from serving short-term holders to long-term holders. This is evident from the number of supplies. The number of short-term holders stands at less than 1 million BTC. On the other hand, it is more than 1 million BTC for long-term holders. As of now,…

The U.S. Securities and Change Fee (SEC) has acknowledged that digital belongings haven’t any inherent worth. In a court docket movement filed final week towards Coinbase, the highest US crypto alternate by quantity, the regulatory company says that digital belongings haven’t any actual worth as they can’t generate earnings on their very own. “Actual property has ‘inherent worth,’ whereas a crypto token ‘will generate no revenue absent an ecosystem that drives demand.’” The SEC references the Howey take a look at, a authorized standards usually cited to find out whether or not a transaction counts as an funding contract or…

An ex-BlackRock manager has predicted that the US could soon approve Bitcoin ETFs, or Exchange Traded Funds. Once approved, financial institutions will have a clearer picture of how they can invest in Bitcoin. Moreover, it will provide a well-structured and regulated avenue for investors. The ex-BlackRock manager believes that the approval could bring about a significant turning point for the crypto industry. Approval of the Bitcoin ETF is estimated to open an investment worth $17.7 trillion. While the approval is good and shows a positive side, such a huge investment demonstrates the confidence of holders and the growing acceptance of…

Whales are some of the most relevant entities in the Bitcoin market because of their potential influence on the Bitcoin price through large-volume transactions. Investors and traders often look out for whale transactions, which can trigger a domino effect on the market. In one of such developments, recent on-chain data revealed that a particular whale has woken up from a three-year slumber, moving their BTC for the first time since 2020. Whale Becomes Active For The First Time In Three Years According to data from blockchain analytics platform Arkham Intelligence, a particular Bitcoin whale became active after years of dormancy…

Prominent crypto exchange Coinbase has emerged as the second largest ETH staking entity based on a recent scoop by Chinese reporter Colin Wu. This development comes amidst growing concerns about network centralization in regard to Lido’s dominance in the ETH staking market.  Coinbase Accounts For 14.1% Of ETH Staking Activity – Report According to Wu, a report from Dragonfly data scientist hildobby, using data from Dune analytics, reveals that Coinbase presently has 3.873 million staked ETH, representing 14.1% of all staked ETH.  Coinbase dominance in the ETH staking sphere is only superseded by that of the liquid staking platform, Lido DAO,…