Author: NBTC
The world’s second-largest cryptocurrency Ethereum (ETH) has given a strong run-up above $2,900 gaining 4% in the last 24 hours. Since the beginning of 2024, the Ethereum price is up by 24% so far, as the altcoin gears up for a further rally to $4,000. Ethereum Whale Accumulation The major reason behind today’s Ethereum price rally is the strong whale accumulation. According to Lookonchain, an Ethereum whale initiated a series of transactions, beginning with the withdrawal of 100 million USDT from the popular exchange Binance. Subsequently, the investor allocated 60 million USDT to purchase 21,353 ETH at an average price…
Decentralized finance is a game that anyone can play. Hosted on a level playing field, it’s a sport that doesn’t discriminate. Rich or poor, professional or amateur, consumer or institution: It makes no difference. Given the rich opportunities available within DeFi — attractive yields, liquidity, global accessibility and round-the-clock availability — it’s worth pondering what’s preventing bigger fish from entering. Particularly those with the technical means and the money to extract the most value out of decentralized finance — institutions. What’s keeping TradFi away? In the wake of the first bitcoin ETF, institutional interest in crypto is riding high. Major…
Asian family offices are gearing up for higher investments in cryptocurrencies, as Bitcoin extends an uptrend streak. DealStreetAsia reported on Monday that wealth managers found offices that are already invested in crypto intend to dive even deeper. Revo Digital Family Office’s Zane Kwan told the outlet about growing curiosity among previously hesitant investors. These people are now exploring how crypto allocations could mitigate portfolio risk or boost returns. Family office crypto exposures wouldn’t be limited to direct investments. They would extend to diverse channels like crypto funds, structured products, and even private equity ventures. Seeking Alpha with Crypto Hedge Fund…
Crypto industry innovator Edward Snowden has reiterated how Bitcoin (BTC) is the most significant monetary advancement the world has ever seen. Taking to his official X account, Edward Snowden echoed what many in the crypto industry have always drawn inspiration from. According to Snowden, this opinion is an unpopular one but true, considering the decentralized nature of the digital currency. To add some elements of humor and twists to his claims, Edward Snowden likened Bitcoin’s advancement to that of Coinage. With many Coinage references around, Snowden’s attribution best fits the decentralized crypto media platform. Unpopular but true: Bitcoin is the…
With Bitcoin (BTC) soaring to $52,000, the crypto market is once more pervaded by a sense of optimism fueling a bullish sentiment across various altcoins and exchange tokens, including Bitget’s native token BGB. BGB reached a notable high of $0.9 in recent trading, reflecting growing confidence in the market and hinting at sustained growth potential. BGB’s momentum and price movement In the past four months, BGB has shown remarkable growth, climbing from $0.4 to a peak of $0.9. This lack of fluctuations in the momentum indicates consistent investor confidence and strong support from Bitget’s operational successes. It’s thus not surprising…
The Bitcoin open interest has been on the rise over the last few weeks as the price has climbed continuously. This sustained rise in the open interest is a reflection of the heightened interest in the cryptocurrency since the United States Securities and Exchange Commission (SEC) approved Spot Bitcoin ETFs for trading. The BTC open interest has now climbed to historical levels, reaching 2021 all-time high levels. Bitcoin Open Interest At 2021 Levels According to data from Coinglass, the Bitcoin open interest has risen to more than $24 billion. This growth represents around a 50% jump in the open interest…
In the last week, the market for non-fungible tokens (NFTs) has seen a decline, with sales falling 12.67% compared to the previous week, totaling $255.22 million. Ethereum took the lead in NFT sales, raking in $133 million, while Solana followed with sales over $46 million, relegating Bitcoin to third place with $40.9 million in sales. 7-Day NFT Sales Drop Follows Last Week’s Uptick Over the past week, NFT sales have witnessed a 12.67% decrease compared to the preceding week, with the volume of NFT transactions also declining by over 11%. Among the top five blockchains by NFT sales volume, four…
Ether has outshone bitcoin in the past seven days. Ether’s fundamentals look more constructive than bitcoin’s, owing to the deflationary trend in ETH’s supply. Ether (ETH), the second-largest cryptocurrency by market value, has outpaced bitcoin’s (BTC) rally over the past week, a trend that could continue because the fundamentals for Ethereum’s native token appear more favorable than those of the larger crypto, according to Greg Magadini, Amberdata’s director of derivatives. Ether has gained over 16% in seven days to trade above $2,900 for the first time in nearly two years while the bitcoin price rose a more sedate 8.5% to…
The decentralized finance (DeFi) landscape has been consistently growing since late 2023, after a fall that started in May 2022. In particular, the total value locked (TVL) in DeFi surged nearly 100% in the past four months. On February 17, TVL reached a 2-year high of $71.914 billion. This is close to a double-up from the local bottom at $36.122 billion on October 12, 2023. Part of this growth directly results from a price pump in USD of each locked cryptocurrency inside the protocols. However, another relevant aspect was an increased adoption and organic amount of the funds locked, measured…
Japan is paving the way for web3 and crypto initiatives amid an overhaul in its investment laws. This goal is to turbocharge the nation’s tech sector, specifically targeting venture capital (VC) investments in crypto and web3 startups. At the core of this development lies the February 2024 revision of the “Industrial Competitiveness Enhancement Act.” Japan Moves to Embrace Web3 and Crypto Startups This amendment, now under deliberation, aims to bolster strategic domestic investments. This includes expansive and long-term tax measures for investments and production in strategic sectors such as electric vehicles, steel, and semiconductors. A pivotal aspect of this legislative…