Author: NBTC
Bitcoin is currently exchanging hands at $45,724.72. This is an increase of 7.16% in the last 24 hours. A surge in the trading value of BTC has sparked interest in the minds of crypto enthusiasts all over the world. The reason is that BTC is now estimated to reach the milestone of $50k by the end of this week. What has caused the price to soar is the anticipation of the SEC approving applications for the Spot Bitcoin ETF. If approved, 14 asset managers are expected to launch their respective products and enable traders and inventors to participate in the…
The XRP Ledger (XRPL) is poised to implement transparency enhancements with the release of XRPScan, its most recent feature. XRPFScan has disclosed that Explorer users will now have the capability to observe the transaction fee with the lowest value on the blockchain. Dr. J. Scott Branson, an advisor to the XRPLF, stated that this quality was an urgent necessity. Branson drew attention to the fact that the minimal transaction fee associated with the XRP Ledger is negligible and contingent on the overhead volume required to process transactions. Additionally, it emphasizes the cost requirements for storing XRP transactions on the blockchain.…
BRC20 has just unleashed its Layer2 platform, BL2, which intends to connect ZK-Rollup with Bitcoin and execute multi-node authentication on the Layer2 network. In turn, this will help improve the safety aspects of zero-knowledge proofs. BL2 is akin to the Bitcoin security consensus. A few BTC main developers and early associates created the manageable BTC Layer2 platform known as BL2. It has been created on the VM universal protocol and BTC safety base. The intention is to set up an exclusive BTC Layer 2 ecosystem by building a dApp and smart contract platform. VM, Layer2’s center, is a Layer 2…
Andrew Kang, an investor with 20 years of finance experience, recently went to X/Twitter to talk about BTC’s price movement. Kang is firmly convinced that Bitcoin, at $45,000, is still mispriced. According to the veteran, BTC should be priced higher, given the halving excitement and incoming ETF inflows. The consensus in the market is that a Bitcoin ETF will result in a long-term bullish run for Bitcoin. This is indeed correct, but the incoming ETF flows surrounding BTC are still underappreciated, added Kang. Bitcoin is currently priced at $45,310, with a 6.80% growth in the past 24 hours. According to…
The Bitcoin price has risen to over $45,900 in the last few hours, an increase of 7.5% in the last 24 hours. These are the three main reasons: #1 Massive Bid From CME The recent surge in Bitcoin’s price was predominantly led by activities on the Chicago Mercantile Exchange (CME). At a point, the Bitcoin price on CME was approximately $1,400 higher than on Coinbase, indicating significant buying pressure on this platform. The CME Group, a renowned exchange for cash settled Bitcoin futures contracts, attracts a substantial institutional investor base, making its price movements particularly noteworthy. Analyst Will Clemente highlighted…
The hard fork token from Bitcoin, known as Bitcoin SV, continues to rise and has crossed $100 for the first time since February 2022. The price spike, which is noteworthy for having increased by almost 110% in just one week, is mostly attributable to increased trading activity and interest in the South Korean market. Upbit Spurs Bitcoin SV Surge: Insights Upbit, the biggest cryptocurrency exchange in South Korea, has been the center of this increased interest in BSV. On New Year’s Day, Upbit registered a significant $275 million in BSV trading activity. With a total trading volume of $753.5 million,…
Ethereum has finally released tentative release dates for its upgrade schedule. The network is set to undertake its new mainnet hard fork, Dencun, in Q1. If everything goes well, the Ethereum team is considering the following dates for forking the public testnets: Goerli – January 17 Sepolia – January 30 Holesky – February 7 According to developers, Goerli will not be added to the testing regimen after the hard fork. The network is slated for depreciation, and it is time for the Electra/Prague upgrade. Whether Ethereum will focus on structuring the upgrade around smaller improvements or a large core feature…
An analyst has explained that Ethereum could be set to see a further rally based on on-chain data. Here’s the level ETH may end up surpassing. Ethereum Has No Significant On-Chain Resistance Ahead In a new post on X, analyst Ali has discussed how Ethereum’s support and resistance levels are looking like based on on-chain data. In on-chain analysis, the potential for any level to provide any notable amount of support/resistance to the price depends on the number of investors who acquired their coins. Here is a chart that shows the amount of ETH that was bought at some of…
Crypto analyst Ali Martinez recently provoked some thoughts in the crypto community as he highlighted a historical pattern that provides insight into where the Bitcoin price may be headed. This comes as debate continues whether or not a potential approval of the pending Spot Bitcoin ETF applications is a ‘sell-the-news’ event. Is History Set To Repeat Itself? In a post on his X (formerly Twitter) platform, Martinez noted that Bitcoin had a bearish January the last two times it saw a strong performance in the last four months of the preceding year. If history were to repeat itself, Bitcoin’s price…
The competition among the Spot Bitcoin ETF issuers is heating up as the period for potential approval of these funds draws nearer. Asset manager Bitwise is the issuer currently making waves as it could potentially outrank the world’s largest asset manager, BlackRock, in terms of seed funds for their respective ETFs. Bitwise’s Bitcoin ETF Could See $200 Million Seed Fund Bitwise’s latest amendment to its S-1 filing with the Securities and Exchange Commission (SEC) shows that the asset manager has gotten interest from an investor to have its ETF seeded with $200 million upon launch. Bloomberg analyst Eric Balchunas highlighted…