Author: NBTC
Ethereum ETF sees $48.6 million in outflows amid growing Middle East war. Ethereum exchange net outflow suggests investors may be buying the dip. Ethereum could bounce off the $2,395 support level as funding rates have remained largely positive. Ethereum (ETH) trades around the $2,400 psychological level on Wednesday, down over 4% following $48.6 million outflows from ETF investors as the war between Israel, Hamas, Hezbollah and Iran is hurting market sentiment. However, buying pressure from spot traders on crypto exchanges could see the top altcoin bounce off the $2,395 support level. Ethereum spot traders and ETF investors display mixed sentiment…
Decentralized AI project Bittensor TAO gains 41% in the past day recovering from the losses experienced yesterday when the global crypto market saw over $1 billion in liquidations. At the time of writing, Bittensor’s (TAO) price has climbed 49% to $254, marking a 15% gain compared to this time last month, according to CoinGecko data. TAO 24-hour price chart | Source: CoinGecko The crypto asset has a daily trading volume of $203 million, while its market cap stood at $1.8 trillion. The latest feat makes TAO the best-performing asset in the top 100 on CoinGecko, surpassing decentralized, open-source cloud computing…
A U.S. court has ruled that crypto mining boxes sold by Green United are securities, satisfying the SEC claims. According to Bloomberg Law, Green United did not convince a federal court to dismiss a civil fraud lawsuit from the Securities and Exchange Commission, which accused the firm of misleading investors. The lawsuit says the company’s mining equipment, known as “Green Boxes,” was part of a securities transaction. Table of Contents What is the essence of the fraud? Green United claims no investors lost money What else does the SEC consider securities? SEC clarifies the definition of securities for cryptocurrencies What…
Macro investor here Luke Gromen says that gold and Bitcoin (BTC) are now set to be some of the main beneficiaries of the US government’s declining fiscal situation. In a new interview with David Lin, Gromen says that gold and Bitcoin are two assets that he “likes” right now, saying they are both “very well-positioned” to rally in an environment where the US government will likely need to inflate away its debt. Gromen, founder and president of macro research firm Forest For The Trees (FFTT), says that the US needs negative real rates, or an interest rate that is overshadowed…
Ethereum price extended its decline below the $2,450 level. ETH is now consolidating and might struggle to recover above the $2,425 level. Ethereum declined further and traded below the $2,400 zone. The price is trading below $2,420 and the 100-hourly Simple Moving Average. There is a connecting bearish trend line forming with resistance at $2,425 on the hourly chart of ETH/USD (data feed via Kraken). The pair must stay above the $2,350 support to start a fresh increase in the near term. Ethereum Price Holds Support Ethereum price remained in a bearish zone and extended losses below the $2,550 level.…
Dilip Rao, an ex-global head of infrastructure innovation at Ripple, suggests that XRP is mainly for institutional investors rather than retail. Rao expressed this view during a question-and-answer session at a Global Islamic Economic Summit held in Dubai. Members of the audience asked Rao to clarify the situation where many people use crypto to make quick gains. They wonder whether this hurts the growth of cryptocurrencies when used for a quick buck. XRP is For Institutions, Not Retail Rao explained that while the current market includes many individuals trading XRP speculatively, this is not Ripple’s primary focus. He noted that…
Caroline Ellison, flanked by her attorneys, was sentenced to two years in prison and three years of supervised release for her role in propping up FTX and Alameda Research last week. 24 months Caroline Ellison was not the main character at her own sentencing hearing. When a federal prosecutor and a defense attorney took the stand to discuss Caroline Ellison’s conduct before and after the collapse of FTX, her former boss – and yes, former boyfriend – Sam Bankman-Fried took center stage. Bankman-Fried was convicted a year ago and sentenced more than six months ago. Neither he nor any of…
Bitcoin (BTC) is approaching its Aug. 25 high of $65,200, a resistance threshold that could hold BTC in a consolidation zone for more weeks, according to the latest edition of the “Bitfinex Alpha” report. BTC is up nearly 6% since the Fed cut the US interest rate by 50 basis points. Yet, the report highlighted that Bitcoin’s current rally is driven primarily by futures trading rather than spot market activity, which raises concerns about potential volatility and correction. Derivatives-fueled rally Global open interest (OI) in Bitcoin futures has reached $19.43 billion, surpassing the Aug. 25 value of $18.93 billion, while…
Ethereum’s (ETH) price is eyeing a significant rebound after losing nearly 9% of its value in the last seven days. As the altcoin builds momentum for the potential surge, shorts, who expect ETH’s price to keep decreasing, might face increased pressure. In this analysis, BeInCrypto looks at the factors that could drive Ethereum’s value higher. It also highlights the possible impact on traders looking to profit from the cryptocurrency’s price movement. Ethereum Targets Comeback, Shorts Under Pressure In anticipation of “Uptober,” a term used to describe a bullish October, several analysts predicted that ETH could reach $3,000. But after a…
According to the data published by Shibburn, the Shiba Inu army succeeded in pushing the burn rate to a big height, while SHIB is showing a massive price increase. Now, that the world’s largest cryptocurrency Bitcoin is recovering, the rest of the market is going green, and Shiba Inu is skyrocketing. SHIB burns rising high The aforementioned data source spread the word that since last morning the SHIB burn rate has demonstrated an astonishing increase of more than 708%. Still, despite the impressive burn rate rise, the total amount of the meme coins that has been destroyed is not too…