Author: NBTC
The Avalanche network will release 9.5 million tokens on Feb. 22, with analysts concerned that it could deal a big blow to AVAX, which has been flying in the past month. AVAX has barely moved in the past week, but since hitting a two-month low at $27 in mid-January, the token has been on an uptrend amid surging trading volume. The Avalanche network’s token unlock is edging closer, and with it, speculation on whether it will deal a blow to AVAX or be a tailwind for the project. While some project that the influx of tokens will be detrimental to…
In a recent development within the crypto space, BitMEX Founder Arthur Hayes has expressed his enthusiasm for the soaring success of ether.fi, as its total value locked (TVL) surpasses a significant milestone of $1 billion. Notably, this achievement marks ether.fi as the first liquid restaking token (LRT) to breach the billion-dollar TVL mark, sparking intrigue and excitement in the cryptocurrency community. ether.fi TVL Crosses The $1 Bln Mark BitMEX’s Arthur Hayes took to social media X, to share his excitement about the rapid ascent of ether.fi, and expressed optimism about the project. Notably, this post accompanied an image showcasing the…
Amid the struggles from Bitcoin to breach $53,000, a prominent analyst is calling for a short-term correction in the cryptocurrency’s price. The price of Bitcoin (BTC) has had a near V-shape recovery since hitting recent lows in the aftermath of spot Bitcoin ETF approvals in the United States. The cryptocurrency reached a low of around $38,500 in mid-January but has since bounced back to over $52,000 in the past few days. The rise has been characterized by very low bearish action, but experienced analyst Michaël van de Poppe expects that to change soon. In a recent X update, Michaël van…
Ethereum’s non-fungible token (NFT) market is experiencing a surge in trading activity, with the weekly volume hitting its highest level since February 2023. According to data from CryptoSlam, NFT sales on the Ethereum (ETH) network has surged by around 100% over the past week, reaching a whopping $158 million. During this period, other popular blockchains for NFTs, including Bitcoin, and Polygon (MATIC), saw their trading volume drop by around 24% and 10%, respectively. Pudgy Penguins See Growing Popularity The rise in Ethereum NFT volume coincides with the growing popularity of the Pudgy Penguins collection, currently ranked third by market capitalization.…
Ethereum’s recent behavior, remaining stable in the face of Bitcoin’s substantial price spike from $45,000 to $52,000, has gained attention in the crypto community. Many consider this stability the stage before Ethereum’s potential momentum switch, which is expected to eventually leave the price in the area between $3,500 and $4,000. #Ethereum is strengthening its momentum. How do I know? It’s flat against BTC, while Bitcoin ran from $45,000 to $52,000. The momentum will shift toward Ethereum when Bitcoin consolidates and calms down. Onwards to $3,500-4,000. pic.twitter.com/541qbeRKdk — Michaël van de Poppe (@CryptoMichNL) February 15, 2024 This development happens as Ethereum…
Crypto markets are preparing to brace for the impact of a possible global recession. On Thursday, the United Kingdom and Japan fell into an unexpected recession hinting that a global downturn was just around the corner. Amid investors now gauging carefully before making investment decisions, the future of crypto markets resides in the doldrums. UK and Japan slip into unexpected recession According to official reports, the United Kingdom has entered a recession. According to the Office for National Statistics, the gross domestic product for the country shrank by 0.3% in the last three months of 2023, after contracting by 0.1%…
Pixels has unveiled plans to distribute a whopping 20 million PIXEL tokens. This airdrop targets Ronin network users who have staked RON tokens. The blockchain gaming platform intends to reward its loyal community through airdrop. Pixel to Reward Ronin Community Through Airdrop Scheduled ahead of the PIXEL token’s launch on Monday, the announcement was made this past Sunday. The gaming platform took a snapshot of eligible users on February 8, categorizing them into four tiers based on their RON stakes for the airdrop. This strategic move will see the airdrop executed in two phases. Consequently, a total of 20 million…
Positive news for Puffer Finance, which has surpassed 850 million dollars in total locked value (TVL) in its smart contracts, since its launch on February 1st. Currently, it ranks as the second most important liquid restaking protocol on Ethereum. Let’s see all the details below. Puffer Finance establishes itself as a leader in liquid restaking: TVL news Puffer Finance also stands out in adoption The partnership with BlockSec Phalcon for advanced security of blockchain resources Puffer Finance establishes itself as a leader in liquid restaking: TVL news As anticipated, the total locked value (TVL) in Ethereum’s liquid restaking protocol, Puffer…
Ascendant Ethereum NFT project Pudgy Penguins now boasts a floor price within striking distance of once-dominant collection Bored Ape Yacht Club—setting the stage for a potential flip that would upend long standing power hierarchies in the NFT industry. At one point on Sunday afternoon, the lowest price one could pay for a Pudgy Penguins NFT rose to 21.5 ETH, or just over $54,850 at writing, according to data from NFT Price Floor. At that same moment, Bored Ape NFTs sold for a minimum price of 22.8 ETH—a sum worth just north of $58,000 at current prices. The gap in floor…
Ethereum’s (ETH) price reached a new yearly high of $2,825 today, breaking out from a horizontal area in the process. There is a noticeable lack of overhead resistance above the current level. Can ETH accelerate its rate of increase further? Ethereum Moves Above the Middle of Its Range The weekly time frame technical analysis shows the ETH price has increased since June 2022. After several failed attempts, ETH reclaimed the bottom of the range in March 2023 (green icon) and has not looked back since. In January 2024, ETH reached a high of $2,717 but was rejected by the middle…