Author: NBTC
In just 40 days, the U.S. Federal Open Market Committee (FOMC) will gather to decide whether the central bank will lower the benchmark interest rate. This pivotal moment occurs two days after the 2024 U.S. Election Day. As it stands, CME futures data suggests that a half-point reduction is currently viewed as more probable than a quarter-point adjustment. Prediction Markets and Fedwatch Tool Split on Rate Cut Forecasts As of Sept. 28, 2024, the CME Fedwatch tool reveals that the likelihood of a 50 basis point cut outweighs the odds of a 25 basis point reduction. The half-point trim currently…
According to data from cryptocurrency analysis platforms, there are some interesting developments in the list of blockchains with the highest number of daily active users. First on the list is, unsurprisingly, Tron (TRX). Tron is the preferred choice for users due to its low transaction fees and speed. Tether (USDT) transfers are extremely popular on the network, and almost all stablecoin transfers are made on Tron. Users who want to keep dollars, especially in third world countries, also keep their USDT on the Tron network. The Tron network has an average of 2.3 million daily active users. Interestingly, the second…
On April 30, US District Judge Richard Jones sentenced Changpeng Zhao (CZ) to four months in prison, with CZ scheduled to serve his sentence at the end of May. CZ’s sentence was originally scheduled to end on September 29, but according to Forbes, he could be released on September 27, two days before his official release date. Because according to US law, if a person’s release date falls on a weekend, inmates are allowed to leave prison early. At this point, the law allows CZ to be released two days earlier, today, because his release date falls on a weekend.…
San Francisco is actively embracing cryptocurrency, with several businesses in the city now accepting digital currencies and over 400 crypto ATMs available for residents and visitors alike. San Francisco’s Bay Area is also home to Ripple Labs, Chainlink Labs, Robinhood Markets, Compound Labs, the decentralized music streaming service Audius, BitGo, Near Protocol, and Oasis Labs. According to Coincub, there are over 100 crypto-accepting businesses in San Francisco, with crypto-friendly banks like Kraken, Series FI, Anchorage Digital, and Juno Bank having headquarters in the city. San Francisco’s early embrace of cryptocurrency goes back to the inception of Bitcoin. The city served…
Bitcoin surged to $66k today, setting a fresh two-month high and marking its best performance ever in September. This rally comes as global economic factors and institutional demand combine to drive the token price upward. Bitcoin’s price increase mirrors the sharp rise in Chinese stocks, fueled by China’s recent economic stimulus measures. The Shanghai Composite Index recorded its best week since 2008, thanks to the stimulus, which also boosted BTC by 3% week-to-date. “This feels frighteningly familiar,” commented trading resource The Kobeissi Letter on the sudden market rise. In the US, the FED’s recent 50-basis-point rate cut, announced on September…
In the past 24 hours, two major Ethereum holders have collectively moved 12,100 ETH, valued at $31.7 million, to centralized exchanges. This activity is part of a broader pattern over the last three days, where these entities have unloaded a total of 20,610 ETH, worth approximately $53.6 million. The large-scale transfers have sparked significant attention, raising concerns over potential selling pressure on the market. These two major players further moved 12,100 $ETH ($31.7M) to exchanges in the past 24 hours!In total, they have unloaded 20,610 $ETH ($53.6M) over the last 3 days, including:👉 Ethereum ICO whale “0xb8c” sent 8,510 $ETH…
A select group of Russian companies, including electronics producers and financial institutions, has received approval to use cryptocurrencies for Chinese imports under a pilot legal framework. Overseen by Russia’s central bank and the Ministry of Finance, this initiative targets firms handling dual-use products and facing challenges with international payments, particularly with China. Russian Firms Explore Crypto for Chinese Imports Under Strict Oversight A select group of Russian firms has been granted permission to utilize digital currencies for paying Chinese imports under a pilot legal framework. This group consists of electronics producers, financial institutions, and specific members from the Russian Chamber…
Popular blockchain analytics platform Whale Alert, which tracks down large cryptocurrency transactions and publishes the details on their X handle, has detected four large XRP transactions during the last 24 hours. One of them carried more than 100 million XRP coins. Close to 200 million XRP on move According to Whale Alert, the aforementioned transfers moved 197.8 million XRP in total, which is equal to $114.1 million in fiat. The largest transaction was conducted between anonymous wallets, and it constituted 106,406,526 XRP (worth $61,418,872). 🚨 🚨 🚨 106,406,526 #XRP (61,418,872 USD) transferred from unknown wallet to unknown new wallethttps://t.co/5CRCRUxpwY —…
Coinbase, the largest U.S. cryptocurrency platform for retail and organizations, witnessed an unexpected comeback in recent days. In less than a week, it jumped from the 500th to the 395th position in all apps ranking by popularity. However, other data says retail is not here yet. Coinbase app back in App Store top 400, data says The mobile application of Coinbase, a dominant crypto ecosystem in the United States, is surging in App Store popularity rankings, trackers say. In just five days between Sept. 23 and Sept. 28, it managed to grow from the 500th place to the 395th one…
Yesterday, Germany founded the Bitcoin Federal Association in the German Federal Parliament, the Bundestag. The news was first announced in an X post by Bundestag member and Bitcoin activist, Joana Cotar. The association will focus on lobbying, networking, and influencing national and international Bitcoin legislation. It also aims to positively shape the Bitcoin ecosystem in Germany and the EU. In a reply to her post, the Bitcoin Federal Association (BTCBV) shared a press release document. The document stated that the association was officially founded with 50 members present, while another 22 participated remotely. The association creates an environment for business,…