Author: NBTC
The Bitcoin price experienced a further sell-off yesterday and fell by more than 5% intraday to as low as $40,660. Since the year-to-date high of $49,000 on January 11, the BTC price has dropped by as much as 17%. However, according to renowned crypto analyst Jacob Canfield, this may not be the end of the correction. In a recent analysis, Canfield warned that more downside could be on the cards in the short-term. The analyst, known for accurately predicting the local top of Bitcoin, addressed the prevailing uncertainty in the market. “The question that everyone is asking now is ‘where…
Spot Bitcoin ETF applications have seen the light at the end of the tunnel in the US. The US SEC gave a green light last week, paving the way for ETFs of other crypto tokens. Talks are buzzing around town that Ether ETF could be the next offering, triggering the likes of BlackRock to make a move. Now, it is South Korea that has come forward with a message for financial regulators, seeking authorities to consider approving Spot Bitcoin ETF in the region. If granted approval, its functionalities will be virtually identical to those of the product on American soil.…
Renowned macroeconomist Henrik Zeberg has set the financial world abuzz with a stark prognosis on X (formerly Twitter), forecasting a dramatic surge in the Bitcoin price to a peak of $115,000 to $150,000. However, this meteoric rise is predicted to find an abrupt end, caused by a devastating macroeconomic downturn, one that Zeberg anticipates will be the most severe since the 1929 crash. Why A Recession Will Hit The US In 2024/2025 At the core of Zeberg’s argument are seven reasons. Zeberg asserts, “Our Business Cycle has flashed a recession signal in 2023. Leading Indicators have crashed under our Equilibrium…
By introducing native ETH and wstETH transfer software onto the platform, Wormhole has altered the ETH and wstETH movement pattern across numerous EVM-oriented networks. This will facilitate the achievement of increased liquidity and cost-effectiveness. Built on top of Uniswap v3, this new feature is going to revolutionize the transfer of ETH and wstETH across different EVM-based networks, making it more efficient and liquid than ever before. On the destination chain, there are gas-free transfers. It is exceptionally intuitive to use. Each blockchain includes a single xETH/wETH pool that facilitates transactions between wrapped (local) ether and xETH (wormhole ether). As the…
Bitcoin mining hashrate is down by 25%. This comes in the wake of Texas curtailing the usage of businesses. The Texas grid regulator has requested a more conservative approach in response to ERCOT’s message. ERCOT, short for Electric Reliability Council of Texas, recently issued a warning that the operating reserves could be on the lower side. That is because of high demand and continued freezing temperatures. Also, ERCOT has said that there could be unseasonably low wind. The request also extends to common residents, provided it is safe to do so. Reports surfacing after the warning by the Council highlight…
Polygon Labs is pleased to announce its membership in the Tokenized Asset Coalition (TAC). Polygon Labs was among the sixteen new members accepted by the TAC from a pool of over 300 applicants. Polygon Labs will be one of sixteen members who plan to move more than $1 trillion in assets on-chain. In addition to advocating for the adoption of public blockchains, the Tokenized Asset Coalition promotes asset tokenization and institutional DeFi. It has fundamentally altered how capital is invested, accumulated, and managed on-chain. This improves the transparency, fairness, and openness of the mechanism to the investors’ benefit. Through its…
To be fair, cryptos have been gaining traction, or rather recognition, for a long time now. The current surge in global attention can be attributed, in part, to the US Securities and Exchange Commission’s approval of Bitcoin ETF applications. Plus, El Salvador has been backing Bitcoin as one of the acceptable modes of payment. The objective is to facilitate seamless transactions, and the macro objective is to boost cross-border transactions along with financial inclusion. The US and Canada are reportedly leading the race to give cryptocurrencies their fair share of dues. Many US companies accept Bitcoin, and the bids are…
The Bitcoin price has been experiencing a phase of stagnation over the past days, leaving investors and analysts searching for the underlying causes. Three key factors can be seen as central to explaining Bitcoin’s current sideways trading trend: #1 ETF Inflows Are Offset By GBTC Selling, But For How Much Longer? The spot Bitcoin ETFs continue to be the dominant theme on the market, and Grayscale in particular, with its GBTC, remains the focus of analysts. While the ETF inflows continue to be record-breaking, the Bitcoin price remains flat. One of the main reasons for this is presumably the outflows…
Amid the excitement encompassing the approval of Bitcoin Spot Exchange-Traded Funds (ETFs), BTC miners have been spotted carrying out an aggressive selling spree leaving the community to ponder on the impact of the sell-off. Bitcoin Miners Engage In Selling Spree Well-known cryptocurrency analyst Ali Martinez shared this information with the community on the social media network X (formerly Twitter), noting a “substantial increase in selling activity” from Bitcoin miners lately. According to data shared by Ali, miners have sold about 10,600 Bitcoin in less than 24 hours. This was valued at an estimated $455.8 million as of the time of…
Klaytn Foundation recently announced a partnership with the Finschia Foundation. The parties have proposed the launch of a new project by integrating their blockchain ecosystems. For now, the parties have shared their proposals with their governance members for discussion. Voting on the respective proposals will take place from January 26 to February 2. The proposed merger has been designed to develop a competitive mainnet ecosystem that carries the properties of both Finschia and Klaytn. Thus, the parties will establish an integrated organization with shared services, business networks, and technologies. Moreover, they will work with LINE, Kakao, and other partners who…