Author: NBTC

Leveraged Prediction Markets for Polymarket betting have gone live on Polygon mainnet through the D8X exchange. Front ends such as FreelyPerps, OctoFi, and DefiSaint allow traders to interact with the markets through their crypto wallets. Users can place leveraged bets on events like the 2024 U.S. presidential election, where the current mark price for Donald Trump to win is 0.4893 with an open interest of 30 TRUMP24 contracts. Another available market is the San Francisco 49ers winning the Super Bowl in 2025, featuring a mark price of 0.1062 and an open interest of 10 SUPBWL49 contracts. The modest open interest,…

Peter Brandt, a veteran trader widely known for his technical analysis, recently issued an important update regarding Bitcoin’s ongoing price action. Noting that BTC remains trapped in a series of lower highs and lower lows, Brandt pointed out that only a close above the July highs would officially break this pattern and complete the six-month expanding triangle that has formed. Until that point is reached, he believes the pattern remains in play. It is worth noting that at the time of Brandt’s assessment, Bitcoin (BTC) was valued at $63,695. Just 24 hours later, the price had shot up to $66,200,…

Wall Street Journal reporter Nick Timiraos, who is considered an important figure on FED policies, warned that the recent interest rate cuts may not be enough to ensure a soft landing for the US economy. “Despite FED’s Interest Rate Cuts, It May Not Achieve a Soft Landing” While lower borrowing costs are generally intended to spur investment and spending, Timiraos suggests the actual impact of these reductions will depend on deeper economic factors. Timiraos explained that the success of the Fed’s rate cuts will depend on the current level of weakness in the U.S. economy and whether businesses and consumers…

Tesla CEO Elon Musk recently stunned the X community with a memetic post that reads, “Just livin’ the meme,” which was accompanied by an image. This playful post garnered attention, reflecting Musk’s well-known penchant for memes and his ability to engage with the internet community. Dogecoin founder Billy Markus, who goes by “Shibetoshi Nakamoto” on X, could not resist joining in the fun and responded, “memes are life.” memes are life — Shibetoshi Nakamoto (@BillyM2k) August 9, 2024 The Tesla CEO’s tweet paired with the Dogecoin foundation’s affirmation that “memes are life,” exemplifies how humor and internet culture meet in…

In his address today at the US Treasury Market Conference, SEC Chair Gary Gensler reiterated the importance of regulatory changes to the definition of “exchange” and alternative trading systems (ATS). This proposal has garnered significant attention within the crypto and DeFi spaces. While Gensler’s remarks largely centered around improving the efficiency and resilience of the US Treasury market, the implications for digital assets are hard to ignore. Gensler emphasized the need to update the exchange definition to reflect the evolution of trading platforms, particularly as algorithmic and high-frequency trading strategies have become more prominent in markets, including those handling digital…

PayProtocol AG, the issuer of Paycoin, announced plans to terminate its virtual asset custody service for the Paycoin app in South Korea. This decision stems from challenges in the domestic regulatory environment, which have prevented PCI’s payment services from resuming since February 2023. The company has decided not to renew its Virtual Asset Service Provider registration when it expires in April 2025, opting instead to focus on its growing international payment ecosystem. In July, South Korean authorities considered delaying the 20% crypto gains tax until 2028, following concerns from the local crypto community. The delay was discussed due to fears…

According to CryptoQuant CEO Ki Young Ju, Bitcoin won all the “FUD” this year. FUD stands for fear, uncertainty and doubt. The remarks come as the market successfully absorbed significant selling pressure from two major events: Mt. Gox Bitcoin sales and the sale of confiscated BTC by the German government. In January, German officials announced that they had secured almost 50,000 Bitcoin, or roughly $2 billion, which a suspect voluntarily transferred to the government amid allegations of commercial, unauthorized use of copyrighted works, and commercial money laundering. The decision to auction off the confiscated Bitcoin sparked concerns that impacted BTC’s…

U.S. Representative Mike Collins recently disclosed unusual trades for a politician, actively buying and selling crypto altcoins. One of his trades, in particular, has rendered the Congressman over 135% in unrealized profits so far. On July 11, Congressman Mike Collins disclosed the sale of three decentralized finance (DeFi) altcoins on June 23 and 24. These were The Graph (GRT), Velodrome (VELO), and Aerodrome (AERO), with sales ranging from $1,001 to $15,000. However, these same filings also disclosed previous and future AERO purchases, ranging between $1,001 and $15,000 before the sale and $15,001 and $50,000 after it, signaling higher conviction. Aerodrome…

On August 10, 2024, the cryptocurrency market showed signs of recovery over the past 24 hours following the recent crypto and stock downturn. Leading the comeback, Helium ($HNT) experienced a remarkable 15.41% increase. This significant increase makes it the top gainer among major coins. Close on its heels were Zcash ($ZEC) with a 12.95% rise, MANTRA ($OM) up by 11.95%, CRONOS ($CRO) increasing by 10.86%, and Arbitrum ($ARB) with an 8.9% boost. These figures were reported by PHOENIX, a well-known crypto media outlet. Daily Summary on August 10, 2024$HNT $ZEC $OM $CRO $ARB $BTC $ETH $SOL $XRP $DOGE#dailysummary #DeFi #Crypto…

The U.S. Department of Justice’s (DOJ) case against Tornado Cash developer Roman Storm will proceed to trial, a New York judge ruled during a telephonic hearing on Thursday. District Judge Katherine Polk Failla of the Southern District of New York (SDNY) denied Storm’s motion to dismiss the criminal charges against him, saying she had a lengthy order to read into the record to explain her reasoning. As of press time, she was reading another portion of that order, addressing a motion to compel certain materials. Along with fellow Tornado Cash developer Roman Semenov, Storm was indicted last August on three…