Author: NBTC

Ethereum price has had a massive run this month, gaining over 50% in July and bringing new excitement to the crypto market. Many traders are already calling for $5,000 ETH, but before that milestone comes into play, the first real target sits near $4,500. The path to that level may not be smooth, though. On-chain and trading data suggest one more pullback could happen before Ethereum pushes higher. Sell Pressure Builds As Taker-Sell Ratio Spikes The taker-sell ratio, which measures aggressive sell orders against buys, jumped to 0.52 on July 28. The last time this ratio hit these levels, back…

Crypto exchange-traded funds on U.S. exchanges recorded their strongest month ever in July, attracting $12.8 billion in net inflows as investor enthusiasm surged alongside rising token prices and optimism around regulation. The data, reported by Bloomberg Intelligence’s Eric Balchunas, marks a new monthly record for the sector. The only month that came close was November 2024, when markets rallied on the election of Donald Trump, who was widely viewed as favorable to crypto interests. This time, bullishness may be driven less by politics and more by fundamentals. The crypto market, as tracked by the CoinDesk 20 Index, jumped over 21%…

In the dynamic world of digital assets, understanding the performance of key players is crucial. Recently, Canaan, a prominent publicly traded Bitcoin miner listed on Nasdaq, released its unaudited mining update for July. This report offers valuable insights into the company’s operational efficiency and strategic accumulation of digital assets. Canaan’s impressive results highlight its ongoing commitment to the Bitcoin mining operations space, revealing both its monthly output and significant total holdings. What’s Driving Canaan’s Bitcoin Mining Success? Canaan reported mining 89 Bitcoin in July. This figure represents the company’s output from its various mining operations during that specific month. For…

Marex (MRX), a global financial services platform, has become the first clearing firm to integrate Kinexys Digital Payments, a blockchain-based settlement system developed by JPMorgan (JPM), through a collaboration with Brevan Howard Digital, the company said in a press release on Wednesday. The initiative is aimed at modernizing payment infrastructure and reducing settlement risk by leveraging programmable, always-on digital ledger technology, the company said. Kinexys is part of JPMorgan’s broader push into digital assets and allows for near-instant settlement through blockchain deposit accounts, marking a significant shift from legacy rails to 24/7 digital clearing mechanisms. Brevan Howard Digital, which joined…

Ethereum may face downward pressure in August, as the institutional and whale support that fueled its rally to a July peak of $3,800 appears to be retreating. With bearish sentiment silently mounting across the broader crypto market, the leading altcoin now faces a tougher climb back toward the $4,000 mark. ETH Futures Sink to $6.2 Billion: Institutional Confidence Losing Steam? On-chain and derivatives data show a recent trend of decline in activity among the market’s biggest players. For example, open interest in ETH futures contracts on the Chicago Mercantile Exchange (CME) has fallen sharply, closing yesterday at a five-day low…

US President Donald Trump announced that he has ordered the immediate dismissal of Bureau of Labor Statistics (BLS) Director Erika McEntarfer following the release of weak employment data in July. In a post on Truth Social, Trump accused McEntarfer of politicizing employment data, calling her a “Biden political appointee.” No concrete evidence was presented for these accusations. Bitcoin price experienced another sudden drop following the development: Chart with minute candles showing the decline in BTC price. “I have instructed my team to immediately remove this Biden political appointee. He will be replaced by someone far more competent and qualified. Such…

The Solana Seeker phone is not your average smartphone, nor does it want to be. Building on the lessons of its predecessor, the Saga, Solana Mobile’s newest device reimagines what a crypto-native phone can be. Smaller, lighter and boasting a longer-lasting battery compared to its predecessor, the Seeker aims to improve on the user experience while doubling down on mobile-first crypto usability. Out of the box, it’s clear who this device is for: active Solana users who regularly transact on-chain, with the design focusing on everything crypto-first. With 150,000 phones pre-ordered from over 50 countries, and at a price point…

The crypto market is sending mixed signals. Despite earlier hopes for an altcoin season, Bitcoin dominance in this cycle is rising, which usually means trouble for small-cap altcoins. While a few altcoins might do well, the overall altcoin market has shown signs of weakness. So while broader altcoins face pressure from BTC’s dominance, altcoin leader Ethereum still has a shot to flip the script. Related: Bitcoin Dominance Hits 3-Year High But Faces Historical August-September Slump Ethereum’s Make-or-Break Test in August Analyst Benjamin Cowen said that August will be a decisive month for Ethereum. If Ethereum can break above $4,000 soon,…

Atlanta Fed President Raphael Bostic told CNBC that July employment data suggests risks in the labor market may be increasing. However, Bostic said it’s too early to change the economic outlook despite the data. “Today’s data and the revisions suggest the economy and labor market may be weakening more broadly than what we’re seeing in the Atlanta Fed area,” Bostic said. Still, he maintained that this week’s interest rate decision was the right one, adding, “This data wouldn’t have changed our decision.” Downward revisions to July’s data revealed that employment growth has lost momentum. Bostic said, “The data suggests the…

Paul Grewal, chief legal officer at major crypto exchange Coinbase, met this week with Priyank Kharge, the IT minister of India’s Karnataka state, as the US-based crypto exchange seeks to expand its role in India’s growing digital infrastructure. Grewal publicly thanked Kharge in a Wednesday X post, saying he “is excited to explore how Coinbase can further support Karnataka’s tech leadership.” He said that support could include developer tools, cybersecurity collaboration, and capacity-building programs “The future is onchain—and it’s being built here,” Grewal said. In a separate Wednesday X post, Kharge said he met with the Coinbase team to “discuss…