Author: NBTC
Challenger blockchains Sui, Sei and Ronin are having a moment. Their native cryptocurrencies have tripled in price over the past three months, outperforming all other layer-1 assets in the top-100 by market cap. Market leaders bitcoin (BTC), ether (ETH) and binance coin (BNB) meanwhile gained about 30% in that time. Solana (SOL) and avalanche (AVAX) nearly doubled. SUI, SEI and RON are far smaller cryptocurrencies with less liquid markets (all three combined are not even one-third of AVAX’s market cap), so increased volatility is to be expected. Still, the data suggests those networks have garnered increased usage over the past…
It looks like apes are out, and penguins are in. Bored Apes Yacht Club, the collection of 10,000 cartoon ape NFTs that became wildly popular in the months after their April 2021 creation, has seen its trading interest languish in recent months. Pudgy Penguins, which were first minted around the same time as Bored Apes, continue to roll. This trend shows itself in the convergence of the two projects’ floor prices. A collection’s floor price is the lowest price for which a collector could acquire a piece in the collection on secondary markets. As of Monday morning, Bored Ape’s floor…
Tim Beiko, a prominent figure within the Ethereum ecosystem, took to X to relay significant updates from the latest All Core Devs Execution (ACDE) call, focusing on the progress of various Ethereum Improvement Proposals (EIPs). Among the discussed topics, EIP-2935 stood out, gaining renewed interest thanks to the potential integration of Verkle trees. These social media updates offered a glimpse into the Ethereum community’s ongoing efforts to enhance the network’s efficiency and security, particularly highlighting the strides being made toward improving stateless client support and refining the execution layer (EL) state transition function. Stateless client support Beiko’s posts detailed the…
Amidst a significant surge in cryptocurrency prices, which propelled the total crypto market capitalization to a high of $1.93 trillion on Thursday, influential interest groups are urging the US Securities and Exchange Commission (SEC) to revise accounting guidance that imposes higher costs on US banks for holding digital assets on behalf of their customers. Banking Trade Groups Urge SEC To Revise Crypto Accounting Rules According to a Bloomberg report, a coalition of trade groups, including the Bank Policy Institute, the American Bankers Association, the Securities Industry and Financial Markets Association, and the Financial Services Forum, sent a letter to the…
As Bitcoin continues to perform strongly recently, the expectations of investors and analysts are also increasing. At this point, as the halving, which is seen as an important catalyst for BTC and cryptocurrencies, approaches, bullish expectations also increase. Speaking to Coindesk, 10x Research founder Markus Thielen said that he expects Bitcoin to continue its rise. Thielen said that data from past halving cycles and the Relative Strength Index (RSI) indicator were effective in this upward expectation. “1.Rise Signal: Past Halving Cycle Data” Pointing out that Bitcoin increased by over 30% in the eight weeks until the halving, as it has…
Dogecoin (DOGE) has recovered from its prolonged decline in the last week, with a jump in trade volume topping $1 billion, owing primarily to the acts of large holders known as “whales.” Whale activity fuels DOGE surge The number of large transactions, defined as transactions exceeding $100,000, according to IntoTheBlock, has seen a notable increase. In the past 24 hours, there have been 1,112 such transactions, indicating a flurry of activity among major players in the DOGE ecosystem. Over the past seven days, this trend has intensified further, with large transactions reaching 1,380 at the seven-day high, and 959 at…
Stellar Network has clarified that it will be rolling out its smart contract functionality in a phased manner. Protocol 20 goes into effect after the community members vote on it. A favorable outcome would pave the way for the next phases to commence. Transitioning from Protocol 19 to Protocol 20 will set it off. The idea behind setting up different phases is to review or monitor the impact of implementing the functionality on the network. Per the official statement of the Stellar Development Foundation, transactions will not be affected. A transition to Protocol 20 is expected to be the most…
Ethereum price is showing bullish signs above the $2,720 support. ETH eyes more gains and might surge toward the $3,000 resistance zone. Ethereum is consolidating gains above the $2,780 support zone. The price is trading above $2,800 and the 100-hourly Simple Moving Average. There are two bullish trend lines forming with support at $2,825 and $2,780 on the hourly chart of ETH/USD (data feed via Kraken). The pair could continue to move up toward the $3,000 resistance zone. Ethereum Price Eyes More Gains Ethereum price gained pace above the $2,750 pivot level. ETH bulls were able to pump the price…
Coinbase (COIN) beat analysts’ estimates for fourth-quarter earnings and revenue, as the U.S.-based cryptocurrency exchange benefitted from soaring crypto prices. It earned $1.04 per share, beating the average analyst estimate of $0.02 per share, according to FactSet data. Revenue of $953.8 million also exceeded the analyst forecast of $826.1 million, the company said in a statement. Read more: Coinbase to Report Strong Earnings, ETF Benefits May Surprise Wall Street, Analysts Say Crypto prices surged for much of 2023, but the rally intensified in the fourth quarter as high hopes for bitcoin ETFs – which were approved last month – sparked…
Bitcoin’s price has been rallying consistently over the last few weeks, breaking past several resistance levels. Yet, some worrying signs are starting to emerge. Technical Analysis By TradingRage The Daily Chart On the daily chart, the price has rallied toward the $52K resistance level after a rebound from $40K earlier in January. While the market is testing the $52K level, the Relative Strength Index is demonstrating a clear overbought signal. This could point to a potential consolidation or correction in the coming weeks. Yet, the $47,500 level can provide support and prevent a deep drop. The 4-Hour Chart Looking at…