Author: NBTC
Currently, Ethereum is trading at $2,582.01, down 1.56% in the last 24 hours with support near $2,563. The price is now retracing after a recent rally to nearly $2,800. Analysts have mixed views on ETH’s future direction, as technical indicators signal potential consolidation or further downside. Price Action and Technical Analysis The price of Ethereum has retraced sharply off resistance near $2,800, followed by $2,563. The next key resistance level lies around $2,628, where ETH previously faced selling pressure. If the previously established level is breached then this could represent renewed bullish momentum. 1-day Ethereum trading chart: source TradingView The…
Ethereum co-founder Vitalik Buterin recently posted an intriguing anecdote on Twitter stating that he made $5 earlier this year by participating in prediction market arbitrage. This little sum was earned more for enjoyment than for profit, he acknowledged, adding that automated bots are probably taking advantage of these opportunities more frequently these days. A user opened the discussion by asking What prevents people from doing prediction market arbitrage? Buterin’s response: Nothing. Profiting from variations in odds or prices across different platforms is known as prediction market arbitrage. When two platforms offer varying odds for an event for example an arbitrage…
BabyDoge climbed over 222.96% to $0.000000002201 following its listing on Binance Thailand. Since September 17, the token has risen significantly, climbing over 55% from its previous low. Baby Doge Coin (BabyDoge) has seen a notable rise, jumping over 22.96% in the last 24 hours, reaching a peak of $0.000000002201 from a low of $0.00000000179. This surge comes as the overall cryptocurrency market turns bullish, with Bitcoin (BTC) trading at around $64,000. One of the main reasons behind Baby Doge Coin’s current surge is its listing on Binance Thailand, which enables users in the country to participate in spot trading of…
Indian regulators are leaning towards prohibiting private cryptocurrencies like Bitcoin and Ethereum, stressing the advantages of Central Bank Digital Currencies (CBDCs). According to recent reports from The Hindustan Times, key government institutions consulted on cryptocurrency regulation favor a ban. The institutions cited that CBDCs can provide similar benefits with reduced risks. Government’s position on crypto and CBDCs According to officials who pleaded anonymity, recent consultations have concluded that the risks of private cryptocurrencies are more than their benefits. “CBDCs can do whatever cryptos do. In fact, CBDCs have more benefits than cryptos, minus the risks associated with private cryptocurrencies,” one…
Avail DA, a well-known unification layer dealing with Web3, has announced a collaboration with Sophon, a client-led blockchain prioritizing users. The joint endeavor of Avail DA and Sophon includes the integration of the former in AI, art, social, and prediction market-related user-focused apps. The platform disclosed this development on its official X account. We’re breaking down barriers with @sophon to bring consumer entertainment onchain 📺Sophon will use Avail DA and Avail’s custom Light Clients to provide the scale to meet the new era of onchain entertainment. Lightweight, fast, secure infrastructure – for all consumer… pic.twitter.com/dDt6BbDlem — Avail (@AvailProject) October 22,…
The U.S. Securities and Exchange Commission (SEC) has issued a bulletin warning about the risks of bitcoin and ether exchange-traded funds (ETFs), highlighting their speculative nature. The regulator urged investors to consider potential issues like price volatility, fraud, and lack of regulatory oversight. SEC Warns Investors About Risks in Bitcoin and Ether ETPs The U.S. Securities and Exchange Commission (SEC)’s Office of Investor Education and Advocacy issued a bulletin on Monday, urging investors to consider the risks associated with bitcoin and ether exchange-traded products (ETPs), including exchange-traded funds (ETFs). The SEC noted: Investors should understand that bitcoin and ether are…
On Oct. 23, the ETH/BTC pair reached its lowest level since April 2021, plunging to just 0.0375 BTC. It has now fallen by 55% from its record high. Market analyst Benjamin Cowen has predicted that 0.036 BTC could now be the next stop. He expects the pair to reach the bottom of the ongoing multi-year downtrend in early 2025. Chartist Aksel Kibar believes that the current downtrend could accelerate with more volatility. Alex Thorn, head of research at crypto-focused financial services firm Galaxy Digital, has opined that 0.03 could still be “in play.” ETHBTC still slipping lower. lowest since apr…
Robert Liu, a member of the board of Hong Kong-based BitGlobal, spoke to CoinDesk in an interview. Liu defended Tron founder Justin Sun’s role as an advisor to the project, arguing that the blockchain he founded is trusted by holders of tens of billions of Tether’s stablecoin, USDT. The business plan for WBTC is to increase the outstanding amount by five to 10 times what is now, just under $10 billion – using a geographically diversified custodial setup that might be more appealing to buyers outside the U.S. The project is being positioned as a crypto-native alternative to bitcoin exchange-traded…
Fluence Network is taking bold strides towards decentralising cloud computing with the launch of its staking program. This innovative feature allows users to enhance the security of the Fluence network while earning rewards and contributing to the platform’s overall performance. Unlike traditional giants like AWS and Google Cloud, Fluence delivers decentralised computing services at a fraction of the cost, potentially slashing expenses by up to 80%. This makes it an attractive choice for businesses eager to optimise their budgets while using Web3 infrastructure. The new staking program is a crucial pillar in Fluence’s mission to foster decentralisation and strengthen resilience…
The Securities and Exchange Commission (SEC) has charged WisdomTree, a popular New York-based exchange-traded funds (ETFs) issuer, with making false statements and failing to comply with its own investment criteria. According to the market watchdog statement, “WisdomTree agreed to a cease-and-desist order and censure and to pay a $4 million civil penalty.” The SEC’s order alleges that from March 2020 to November 2022, WisdomTree misled investors and the board of trustees by claiming that three of its ESG-marketed ETFs would not invest in companies involved in fossil fuels and tobacco. Contrary to these representations, the funds invested in companies engaged…