Author: NBTC

Ethereum price analysis confirmed a positive correlation with Bitcoin price this week such as as the latter topped $52,000, ETH reclaimed the $2,800 level for the first time since May 2022. Apart from the positive outlook in BTC, investors are likely backing the uptrend and speculating on the upcoming Dencun upgrade and the spot Ether ETF. Ethereum Price Analysis: Can ETH ETF Hype Drive Prices Higher? The Ethereum community is waiting for the developers to announce the date for the Dencun upgrade mainnet launch following the third successful test net debut on February 7. With this upgrade developers hope to…

Ethena Labs raised $14 million including from PayPal Ventures, Franklin Templeton, joining earlier investors Dragonfly, Arthur Hayes’ Maelstrom and several derivatives exchanges. The company opened public access to its ether-based, yield-bearing synthetic dollar USDe after pulling in over $220 million in deposits from early investors. While yield-bearing stablecoins earned a bad reputation after Terra-Luna’s collapse, Ethena’s founder noted key design differences in a CoinDesk interview. Ethena Labs opened public access to its ether-based (ETH) synthetic dollar after raising $14 million from investors including PayPal Ventures, asset manager Franklin Templeton, the company said Friday. The investment round was led by previous…

A widely followed crypto strategist thinks that Bitcoin (BTC) is in a tough spot even as it trades above $50,000. Analyst Justin Bennett tells his 112,000 followers on the social media platform X that BTC has hit the diagonal resistance of an ascending channel. An ascending channel is typically viewed as a bullish pattern as it suggests that an asset is going through an uptrend and printing higher highs and higher lows. With Bitcoin hitting the pattern’s resistance level, Bennett thinks that it’s possible for BTC to correct to as low as $46,000. “BTC remains vulnerable while below this $52,000…

Dogecoin (DOGE) creator Billy Markus has firmly denied any involvement in newly emerged project Sheboshis. This denial comes after inquiries about his potential association with the project were raised by the community. Sheboshis, characterized by its token SHEB, draws inspiration from the renowned meme cryptocurrency Shiba Inu (SHIB) and its accompanying NFT collection, Shiboshis. While Shiboshis have garnered support within the SHIB community, Sheboshis stand as a separate entity on the Ethereum network. It claims a backstory in which SHEB is “the wife” of SHIB, the original Shiba Inu token. The project’s website explicitly states that SHEB is a meme…

Prisma Finance, a key player in the decentralized finance (DeFi) space, has introduced a groundbreaking borrowing protocol called PrismaLRT. It aims at revolutionizing the utilization of Liquid Restaking Tokens (LRTs). This innovative protocol addresses the liquidity constraints faced by LRT holders. Moreover, it paves the way for greater efficiency and accessibility in the DeFi ecosystem. 1/ Introducing $ULTRA, sound money backed by LRTs🌈A new borrowing protocol developed by @PrismaFi, PrismaLRT offers unparalleled efficiency for Liquid Restaking Tokens (LRTs).Let’s see how 👇https://t.co/8b2nhKKFZt — Prisma Finance (@PrismaFi) February 14, 2024 Prisma Finance’s $ULTRA-backed PrismaLRT Redefines DeFi Opportunities DeFi has changed considerably with…

After the late Tuesday launch of the Bitcoin Ordinals gaming project Bits failed to pull in as much demand as expected, the project announced on Wednesday that it was slashing prices and the total supply of its assets. “A stumble at the start never determines the rest of the journey,” pseudonymous DFZ Labs co-founder Betty said on Twitter. “While we own misjudging the market for supply and price here, we’re moving forward with an amazing team and adjusted supply/price.” A stumble at the start never determines the rest of the journey. While we own misjudging the market for supply and…

The Dencun hard fork, which is anticipated to launch in March 2024, will see multiple Ethereum Improvement Proposals (EIPs) go live on the Ethereum mainnet. Among them, EIP-4844, also known as proto-danksharding, has been gaining particular interest. In today’s Ethereum ecosystem, layer-2 scaling solutions like rollups play a crucial role in improving transaction throughput and reducing costs. These rollups “inherit” security from Ethereum by having the execution layer nodes store a temporary copy of the network’s ledger and history. This process allows for the verification of transaction accuracy. Read more: Rollups saved Ethereum users a boatload of gas fees: Report…

FED member Raphael Bostic recently made enlightening statements about the US economy. While Bostic expressed his surprise at the latest data, he also stated that significant progress has been made on inflation. Despite the latest inflation data, Bostic said the FED should be patient about policy decisions. Bostic stated that there is still more work to be done to reduce inflation pressures. However, he argued that people generally feel good about the state of the economy. The Fed member remains optimistic about inflation returning to 2%. Looking ahead, Bostic expects interest rates to start lowering in the summer. He also…

Exchange-traded funds (ETFs) have significantly increased their Bitcoin holdings, showcasing remarkable market confidence in cryptocurrency investments. Leading the charge, iShares by BlackRock (IBIT) now holds nearly 116,000 BTC, with Fidelity’s Bitcoin ETF (FBTC) not far behind, managing over 83,000 BTC. This rapid accumulation within just five weeks of Bitcoin ETF trading has dispelled doubts regarding the market demand for such financial products. ETFs embrace Bitcoin The ETF market has witnessed a historic influx into Bitcoin, with iShares by BlackRock and Fidelity’s Bitcoin ETF at the forefront. iShares’ substantial holdings highlight the growing interest from traditional financial institutions in Bitcoin as…

In a surprising revelation, Data Analytics firm Spot On Chain has revealed that bankrupt crypto trading firm Alameda Research currently holds a significant amount of Worldcoin (WLD) tokens worth $168 million. Bankrupt Alameda Research Holds WLD Tokens Worth $168 Million This disclosure marks WLD as Alameda’s current highest net worth entity. According to Spot On Chain’s findings, Alameda Research acquired these WLD tokens from Worldcoin on August 15, 2023. However, Alameda has reportedly been inactive since acquiring the tokens, avoiding any interactions or transactions involving WLD tokens. The disclosure that Alameda Research holds significant holdings of WLD tokens comes against…