Author: NBTC

Bitcoin experienced a sharp decline on Aug. 5, plummeting to $49,221 after maintaining a level of around $58,350 for almost two hours. At the time of writing, Bitcoin (BTC) had a daily trading volume of $79.5 billion, while its market cap had fallen to $1.04 trillion. The crypto asset is still 28.2% down from its all-time high of $73,737, reached on March 14. BTC 24-hour price chart | Source: crypto.news The drop was part of a broader market downturn that also saw Ethereum (ETH) fall by nearly 20%, from $2,695 to a low of $2,171, before marginally recovering to $2,321,…

On paper, Ethereum-based projects appear to have enormous treasuries, with some treasuries containing billions of dollars worth of native tokens. But upon closer inspection, a lot of these funds are questionable. Although these projects may seem stable on the surface, the bulk of their holdings are actually in highly volatile or illiquid tokens. Consider what transpired with Luna for instance. Its stablecoin’s value fell during a market meltdown because it was backed by other tokens. One of the most notable projects that faced issues due to backing with volatile tokens was Luna, which was unable to safeguard its stablecoin with…

As Ethereum grapples with slow transaction speeds and high fees, Tron is emerging as a potential rival that could shake up the blockchain landscape. With its focus on speed and cost-effectiveness, Tron is drawing attention as a possible successor to Ethereum. According to market trends and blockchain analysis, Tron is now being seen as a potential “Ethereum Killer” and a rising crypto asset. Can Tron Dethrone Ethereum? Tron is a cryptocurrency similar to Ethereum but aims to build a secure and dependable platform specifically for content creators. What sets Tron apart is its ability to connect creators directly with consumers,…

Bitcoin tumbled more than 15% on Monday, briefly dipping below $50,000 amidst concerns of a US recession and growing geopolitical tensions in the Middle East. This was the first time since February that BTC fell below this threshold before rebounding to around $52,000. Experts suggest that the crypto asset could see more downsides. More Pain for Bitcoin? CryptoQuant’s latest analysis indicates that Bitcoin could potentially drop to $40,000, signaling a challenging period for investors. The crypto analytic platform highlighted that traders are currently experiencing their most negative unrealized profit margins since November 2022. This downturn reflects a significant shift in…

Ethereum showed modest price increases in the last 24 hours as per CMC data. The altcoin’s daily trading volume showed a 10.43% increase. The crypto sector shook off its recent slump with a surge in activity over the last 24 hours. While the web3 ecosystem made several advancements, cryptocurrency prices took a turn towards a modest positive. Relatedly, the leading altcoin and second largest cryptocurrency, Ethereum recorded a 0.98% increase in daily price movements. Notably, ETH price movement showed entering a consolidation as prices stagnated at the $2.3K level. As the overall cryptocurrency market also witnessed declining movements, Ethereum succumbed…

DWF Labs, a Web3 investor and market maker, has deposited a massive 2 million CRV tokens worth $683,000 onto Binance, the world’s largest crypto exchange, igniting sell-off rumors in the digital asset space. Notably, the activity, first pointed out by blockchain analysis firm Spot On Chain, took place on August 22. According to a post, DWF Labs acquired a substantial 12.5 million CRV from Curve DAO founder Michael Egorov through an over-the-counter (OTC) trade last year during a liquidity crisis. The tokens were purchased at $0.4 each, totaling $5 million. DWF Labs currently retains 10.5 million CRV, valued at $3.5…

PlanB’s Stock-to-Flow (S2F) model, known for predicting Bitcoin’s price based on scarcity, has faced scrutiny as the digital asset’s value has remained below the model’s expectations since 2021. The S2F model, which correlates the increasing scarcity of Bitcoin due to halving events with price appreciation, suggested a significantly higher price than the actual market value over the past few years. As of recent data, the discrepancy has reached approximately $130,000, raising questions about the model’s reliability in the face of unpredictable market conditions. The model predicts a price of around $180,000 at present, while Bitcoin remains just above $50,000. The…

Ethereum (ETH) price has been facing a challenging macro environment for the past six months, marked by a persistent downtrend. Since March, ETH has struggled to maintain a bullish momentum, repeatedly testing its long-term downtrend line as support. However, recent sentiment shifts suggest that recovery might be on the horizon. The question remains whether this recovery will be more difficult than anticipated as Ethereum’s price action continues to remain rangebound. Ethereum Is Not Facing Bearishness The MVRV Long/Short Difference indicator shows an essential insight into Ethereum’s current market conditions. For the first time since November 2023, this metric has fallen…

It all started yesterday when the world-famous fast food giant McDonald’s announced on its official Instagram account that it had launched an altcoin called GRIMACE and launched it on the Solana network. The Truth Behind McDonald’s Altcoin Definition Revealed! However, it was later discovered that McDonald’s official Instagram page was hacked by scammers. Accordingly, the hacker who took over the Instagram account promoted a memecoin called GRIMACE, which was issued on the Solana (SOL) network. The hacker wrote in his post, “GRIMACE! A McDonald’s experiment on Solana.” After the hacker’s post, GRIMACE’s market value quickly rose from $100,000 to $25…

OSL Group, a regulated cryptocurrency trading platform, has announced the inclusion of Solana (SOL) transactions, thereby broadening its trading offerings for investors. This addition signifies an increase in the total cryptocurrencies available on the platform to fifteen, showcasing growing interest in digital assets. Through this move, OSL aims to cater to the advanced needs of its professional investor clientele. Contents hide 1 Who Can Trade Solana? 2 Why Limit to Professionals? 3 Conclusion: Key Takeaways Who Can Trade Solana? Currently, the newly introduced trading options for Solana are confined to professional investors, excluding retail investors from participating in these trades.…