Author: NBTC

This week is packed with major economic events that will undoubtedly influence global markets. Oil, retail, housing, and manufacturing data are all on deck, with many companies reporting earnings and 11 Federal Reserve officials giving speeches. It’s a busy week for those tracking the pulse of the economy. Here’s a breakdown of what’s coming and why it matters, with an eye on the numbers and market implications. OPEC monthly report and Fed speaker event Kicking off the week is OPEC’s monthly report. Oil markets are always watching closely, and this one’s no different. Last month, OPEC noted a small increase…

The recent surge in the Web3 sector has brought about a significant shift with several well-known projects seeing huge weekly trading volumes. Phoenix, a prominent crypto analytics firm, has shared the list of top Web3 tokens that recorded substantial trading volumes weekly, with Chainlink ($LINK), Polkadot ($DOT), and Ethereum Name Service ($ENS) leading them. The analytics provider revealed this list on its official X account. TOP #WEB3 TOKENS BY WEEKLY TRADING VOLUME$LINK $DOT $ENS $AR $SAGA $FIL $MNT $APE $LPT $GRT $GMT $ALT $THETA $STORJ $PIXEL pic.twitter.com/cOj7PbuKFx — PHOENIX – Crypto News & Analytics (@pnxgrp) September 29, 2024 $LINK Leads…

Seoul National University (SNU) in South Korea has made a significant decision to halt cryptocurrency donations until the stability of digital assets is assured and appropriate regulatory frameworks are in place. This move, reported by Hankook Ilbo, comes in the wake of a controversy involving Wemade, a prominent game company that pledged KRW 1 billion (approximately $737,000) in WEMIX tokens to a startup fund. The subsequent liquidation of these tokens to cover operational expenses without prior disclosure led to a substantial drop in their value, prompting SNU to reconsider its stance on accepting crypto donations. This decision underscores the growing…

Bitcoin mining profitability dropped in September, the bank said. Jefferies said October could be a harder month for the sector as the hashrate has risen 11%, more than offsetting the 5% increase in the bitcoin price. North American listed mining companies mined a larger share of the network in September than August, the report said. Bitcoin (BTC) mining profitability fell in September from the month before, as the average price of the world’s largest cryptocurrency was broadly unchanged while the network hashrate rose about 1.7%, Jefferies said in a research report Sunday. The investment bank noted that average daily revenue…

Charles Hoskinson introduces Cardano’s “Bill of Rights,” outlining 11 blockchain tenets for governance, privacy, efficiency, and user protections. In a recent broadcast, Charles Hoskinson, founder of Cardano, outlined a framework for blockchain governance that he described as a “Bill of Rights” for the Cardano ecosystem. His announcement marks a significant development in the blockchain’s evolution, aiming to establish a governance model that ensures user rights and expectations are clearly defined. The move is part of an ongoing effort, with over 50 workshops conducted and elected delegates helping to craft a comprehensive constitution for Cardano. Cardano Blockchain Tenets https://t.co/SnpR98Rt3S — Charles…

Trump-backed DeFi venture is set to launch its WLFI token sale on Tuesday, just three weeks before the US presidential election. Key Takeaways A potential assassination plot against Trump occurred ahead of the World Liberty token sale. The police assessed that the incident did not pose a direct threat to Trump or the rally attendees. Donald Trump recently faced a potential assassination plot in the lead-up to the token sale of World Liberty Financial, a DeFi project backed by the Trump family. Police reported on Saturday that they arrested an armed man with a fake VIP and press pass at…

Crypto markets have remained tightly range-bound over the weekend, with volatility declining, but that may be about to change. Retail sales and manufacturing reports are released this week. These are often used as indicators of economic conditions and potential changes in inflationary trends. “We now have the Fed, election, geopolitical tensions, and earnings in the spotlight,” commented the Kobeissi Letter. Economic Events Oct. 14 to 18 Last week’s slightly hotter-than-expected CPI came along with a rise in jobless claims, which added to investor confusion about the direction of the US economy. Additionally, the FOMC minutes revealed that most of the…

Billy Markus, who collaborated with Jackson Palmer to create the original meme cryptocurrency DOGE in 2013, has shared his take on the massive 21% increase in the coin’s price last week. Markus did it, sticking to his traditional ironic style and criticism of the cryptocurrency market. Why did DOGE surge 20%? Markus sheds light Last week, the largest meme cryptocurrency in terms of market capitalization value, Dogecoin, stunned the crypto community and meme coin lovers with an astounding growth of more than 21%. Between Wednesday and Saturday, DOGE skyrocketed from $0.10745 and succeeded in reaching a local high of $0.13.080.…

Vice President Kamala Harris has unveiled plans to establish a regulatory framework for cryptocurrency and digital assets, aiming to protect Black men who invest in these markets. This initiative is part of her broader Opportunity Agenda, which seeks to provide tools for wealth creation and economic advancement within the Black male community. As outlined in the agenda, more than 20% of Black Americans own or have owned digital assets. The proposed regulatory framework intends to safeguard investors and owners in this space against potential risks and promote fair access and participation in financial innovation. Per the Vice President’s plan, this…

With 4% of the global Bitcoin mining capacity currently possessed by the UAE, nations like the US, China, and Russia face significant competition. To reduce the cost of mining Bitcoin, the UAE is changing to nuclear and solar energy, targeting carbon neutrality by 2050. The UAE is growing as a major location for blockchain development and Bitcoin mining due to unique free zones and strict regulations. According to CNBC Arabia, the UAE has become an important part of the global cryptocurrency, thanks to its cutting-edge energy solutions. Over three years ago, the area built one of the biggest hydro-cooling mining…