Author: NBTC
The largest altcoin, Ethereum, has been breaking records lately. ETH, which exceeded $ 2,800 after a long time, has now broken a record on the cryptocurrency derivatives exchange Deribit. According to The Block, open interest in Ethereum futures reached an all-time high on Deribit. While there has been an increase in the Ethereum futures funding rate on Deribit since the beginning of February, the value of open positions on Deribit is currently over $690 million. This increase in Ethereum futures open positions indicates that the demand for long positions in Ethereum has increased. In other words, this increase in Ethereum…
While the rises experienced by Bitcoin (BTC) and altcoins increase the rally expectations among investors, preparations for the real bull rally continue. At this point, institutional investors, as well as retail investors, are making various purchases. Activity continues in Falcon X, which is among the major institutional investors in the crypto market who have purchased large amounts of altcoins from Binance in recent months. According to Lookonchain’s post, GSR and Falcon “Looks like institutions are pouring funds into the crypto market! “In the last 24 hours, FalconX and GSR received a total of 86.5M USDC from Circle and deposited them…
Renowned crypto analyst Doctor Profit, known for his weekly reports that dissect the intricacies of the cryptocurrency market, has made a bold prediction regarding Bitcoin’s future trajectory. In his latest report, Doctor Profit emphasizes the unprecedented bullish momentum currently driving Bitcoin’s price action and lays out a compelling case for the cryptocurrency’s imminent surge to new all-time highs. As per Doctor Profit, BTC will pump so huge that traders will not see the current price level for many years. #Bitcoin – What’s Next?The big Sunday report, all you need to know:🚩 TA/LCA/Psychological Analysis: Two weeks ago, when Bitcoin was between…
An XRP liquidity tracking resource recently identified a smart wallet that it believes could help signal when XRP has reached its next all-time high price. The liquidity tracking resource, identified as XRP Liquidity on X, disclosed this in a recent post. The team behind the resource called attention to a smart money wallet associated with an address with the tag Musk. They revealed that the individual behind the wallet is fascinated with popular figures associated with astronomy. In addition, this fascination extends to individuals who have made notable contributions to the field of science and technology. Sometimes I like to…
Liquid restaking platform EigenLayer has become the fifth largest protocol in decentralized finance (DeFi) following $4.3 billion worth of fresh inflows over the past 10 days. The uptick in inflows comes after EigenLayer removed its staking cap on Feb. 5, a decision that was designed to “invite organic demand,” according to a recent blog post. The window for liquid restaking was closed on Feb. 10, since then the further $600 million rise in TVL can be attributed to increasing asset prices. Data from DefiLlama shows that there is now 469,870 wrapped ether {{WETH}} tokens worth $1.9 billion locked on the…
The “points” meta has overtaken the crypto space as of late, and NFT marketplaces across Ethereum, Solana, and Bitcoin are jumping on the bandwagon (and in some cases driving it) in an attempt to win the hearts, minds, and wallets of traders everywhere. Will points translate to token airdrops? Will the NFT market return to its former glory? And if so, which company is in the best position to win the NFT marketplace wars? Here’s how things are shaping up so far: Magic Eden is the latest NFT marketplace to try and lure in users through points-like loyalty models that…
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…