Author: NBTC
Ethereum’s recent failure to reclaim the multi-month descending channel’s middle threshold of $2.6K has resulted in a significant rejection, signaling a possible continuation of the downtrend toward the mid-term $2.1K support level. By Shayan The Daily Chart Ethereum’s price movement on the daily chart reflects a bull trap. After briefly surpassing the $2.6K resistance, the price quickly lost momentum due to intense selling pressure, leading to a 15% drop. This rejection underscores the dominance of sellers in the market, as ETH failed to reclaim this critical threshold. Adding to the bearish sentiment, a “Death Cross” has occurred, where the 100-day…
Aethir, a decentralized graphics processing unit (GPU) cloud computing provider, has announced the launch of the $100 million Aethir Ecosystem Fund to accelerate innovation in AI and gaming. The initiative, which includes the Aethir Catalyst program, is designed to provide startups and enterprises with access to high-performance GPU resources. The fund will distribute 336 million ATH tokens over the next year, with an equal focus on AI and gaming projects. Daniel WANG, CEO of Aethir, said the $100 million fund will address the needs of startups and enterprises trying to access high-performance GPU resources. The Aethir Catalyst program is the…
Whales, known as big investors in the cryptocurrency market, significantly affect the market and prices with their movements. While smaller investors closely follow the altcoins that whales trade, cryptocurrency analysis platform Santiment announced the altcoins that whales have recently started to show particular interest in. Accordingly, Santiment announced that whale activity has increased in 10 altcoins with a market value of more than $ 2 billion in the last week. In the list of 10 altcoins, popular altcoins such as Injective (INJ), Wrapped Bitcoin (WBTC) and Shiba Inu (SHIB) stood out. According to Santiment data, the biggest increase in whale…
Los Angeles – Nova Labs, a trailblazer in decentralized wireless communications, has joined forces with American Bandwidth (Ameriband), a leading provider of Wi-Fi infrastructure, to integrate Ameriband’s extensive network of over 100,000 enterprise-grade access points (APs) into the Helium Network. This strategic partnership is set to expand Helium’s coverage footprint across North America almost instantly, equipping it with mini cell towers that enhance connectivity for users and mobile carriers alike.—Bridging Traditional Infrastructure with Decentralized NetworksThe collaboration signifies a monumental leap for the Helium Network, which leverages a unique crypto incentive model to empower its users. By creating a bridge that…
Bitcoin’s (BTC) spot volume hit $16 billion on Sept. 18 following the US Federal Reserve confirming a 50 basis point interest rate cut. According to FalconX head of research David Lawant, the high volume paired with the liquidity setup shown in the past six months could be a sign of impending high volatility. ‘Coiled spring’ Lawant noted that the current spot volume is nearly 30% higher than the daily average during August, which indicates that liquidity is significantly stronger during periods of recovery compared to sell-offs. He echoed the sentiment recently shared by Bitwise CIO Matt Hougan, saying that liquidity…
It has been almost three months since the launch of the exchange-traded funds tracking the performance of the second-largest cryptocurrency, and CryptoQuant decided to observe the differences between their inflows compared to the data from the BTC ETFs’ initial days. The numbers don’t lie, and they clearly rule in favor of BTC. ETF Battle Between BTC and ETH Although the highly anticipated bull run in this halving year has yet to transpire, 2024 will go down in the history books as the one when two cryptocurrencies received massive validation by US regulators by having their own ETFs. Naturally, Bitcoin led…
As October, or as it is colloquially known in the crypto market, “Uptober,” has finally arrived, the eyes of its participants are on the charts of their favorite cryptocurrencies. However, despite everything being frontrunned and priced in, it is still necessary to take a look behind the scenes, in other words, into the on-chain data, to see how things are actually progressing. In particular, it is always worth monitoring the actions of the largest players on the crypto market, or as they are called here, whales. One such metric that can help understand the current speculation is Large Transaction Volume…
Mythos is transforming the Polkadot network, boasting over 3.6 million accounts. As Mythical Games integrates its popular titles and NFT collections, the gaming landscape is poised for change. With strategic migrations and a focus on player-owned economies, Mythos aims to redefine player interactions with digital assets.—“In July, we migrated Mythical Market to Polkadot, and we are currently in the process of migrating both the Blankos collection to Mythical Market and D-Market to Polkadot. This transition amounts to more than 5 million wallets being migrated to the network,” shared Kasper Joergensen, CFO of Mythical Games, in a recent story with Investing.com.Mythical…
Bitcoin, the largest cryptocurrency by market capitalization, extended its rise since the week’s start, surpassing the $63,000 mark. Bitcoin reached highs of $63,526 in Thursday’s session and is set to mark its third consecutive day of gains since September. In his usual character, Michael Saylor, the chairman and cofounder of MicroStrategy, reacted to Bitcoin’s bullish upswing. In a recent tweet, Saylor made a playful yet impactful statement: “Have a Bitcoin Burger.” Have a #Bitcoin Burger. pic.twitter.com/ng4WGsdC14 — Michael Saylor⚡️ (@saylor) September 19, 2024 This tweet, while lighthearted, underscores Saylor’s unwavering support for Bitcoin. Under Saylor’s leadership, MicroStrategy has become one…
Ethereum’s (ETH) price dipped below its 20-day exponential moving average (EMA) and 50-day simple moving average (SMA) on October 1. Since then, it has struggled to break back above these levels, which have become resistance points. The failure to overcome these resistance levels suggests a potential hesitation among buyers to enter the market at higher prices. Ethereum Struggles Below Resistance Ethereum is currently trading at $2,398, slightly below its 20-day Exponential Moving Average (EMA) of $2,462 and its 50-day Simple Moving Average (SMA) of $2,483. The 20-day EMA reflects the average closing price over the last 20 days, while the…