Author: NBTC
There’s blood on the streets and crypto gamblers on Polymarket are betting that Bitcoin is far from its bottom. Forty-five percent of traders on the prediction market Polymarket believe that Bitcoin’s price will fall below $45,000 before September. This spiked at a 65% chance in early European trading hours on Monday amid a market meltdown. It’s worth pointing out, though, that there’s currently less than $300,000 worth of bets in that pool. Bitcoin fell below $55,000 overnight amid macroeconomic uncertainty and geopolitical tensions rising. This sell off continued, now currently at $50,000 with over $1 billion of liquidations taking place…
Ethereum has been performing poorly against Bitcoin, with Ethereum falling behind Bitcoin by 12% in the last month, compared to Bitcoin’s 3% decline. As ETH continues to worry its investors with the declines it experiences, 10X Research analysts predicted that Ethereum could continue to decline. Ethereum (ETH) Will Bottom in 2-4 Months! Analysts pointed out that the predictions of a decline in ETH have been correct so far and said that they predict that Ethereum may bottom in the next 2-4 months. Analysts stated that the consolidation process in Ethereum may continue and that it is not right to expect…
A major bullish development has just stunned the Shiba Inu (SHIB) community. Shiba Inu, the second largest meme coin in terms of market capitalization, has triggered a price rebound today. It appears that crypto traders are also supporting this rally, as notable buying activity has been detected on-chain. More that 620 billion SHIB tokens, according to CryptoQuant, were withdrawn from crypto exchanges on Aug. 21. This massive rise in exchange outflows is a positive signal for the meme coin about what lies ahead for it. These figures are showing the start of a strong accumulation trend, which can result in…
As FTX unwinds its vast Solana (SOL) holdings, reports suggest the bankrupt exchange still has over $1 billion worth of tokens to offload. This significant number of tokens could pressure Solana’s market valuation, as on-chain data points to declining interest. Solana Selling Pressure Could Spike as FTX Moves Tokens According to blockchain analytics firm LookOnChain, FTX and its sister company, Alameda Research, have already unstaked significant portions of their Solana tokens. In the past three months, they unstaked 530,000 SOL, worth approximately $71,000, with monthly averages reaching 176,700 SOL, or $23.5 million. Despite these transactions, 7.06 million SOL, valued at…
Bitcoin miners are bailing on the crypto grind, switching gears to artificial intelligence (AI) as rising energy costs make it harder to turn a profit. Mining Bitcoin used to be a cash machine, but those days are gone, and AI is becoming the only way to survive in an industry that’s getting squeezed on all sides. In the last seven days, Bitcoin saw a 12% price jump, and the network’s hash rate hit an all-time high. More miners are online than ever before, which makes mining even tougher. Jefferies, an investment bank, reported that August saw an 11.8% drop in…
Kathleen Breitman, the co-founder of the Tezos blockchain, says Bitcoin’s narrative as a store of value is “being decimated” amid the latest crypto crash. The Tezos (XTZ) co-founder shared the viewpoint in an interview with CNBC’s ‘Squawk Box’ on Aug. 5, commenting on the crypto market reaction as Bitcoin (BTC) plunged to under $50,000. According to Breitman, Bitcoin’s price plunged as investors and traders reacted to broader market jitters. Catalysts to this flip in sentiment include fears of a potential global recession, with the crash in Japan’s stocks exacerbating the situation across the market on Monday. Tezos co-founder comments on…
In the last 45 days only, Ethereum (ETH), the largest smart contract platform, processed almost $1.5 trillion in stablecoin transfers. Amid a choppy Q3, 2024, market, this looks like an indicator of increased interest in the DeFi segment as a whole, analyst Leon Waidmann of Onchain Foundation says. Ethereum (ETH) stablecoin transfer volume exceeded 2022 highs Ethereum (ETH) stablecoin volume almost reached $1.5 trillion in recent weeks. As such, the metric has already left its 2020 record in the dust, as demonstrated by crypto researcher Leon Waidmann on X. #Ethereum stablecoin volume has soared to an incredible $1.46 trillion as…
Two whales have recently made $7.97M moves with Solana ($SOL), according to Lookonchain. Both large investors have staked their withdrawn funds. 2 whales bought $SOL and staked!9tuA8L withdrew 30,000 $SOL($4.25M) from #Binance and staked 7 hours ago.https://t.co/1YCSgze4nv7CsCGy withdrew 26,245 $SOL($3.72M) from #Binance and staked 6 hours ago.https://t.co/WYUZhKdoRb pic.twitter.com/VtbSTAA3pk — Lookonchain (@lookonchain) August 22, 2024 Two Whales Withdraw $4.25M and $3.72M in $SOL The first whale, identified as 9tuA8L, withdrew 30,000 SOL, worth approximately $4.25 million, from Binance earlier today. After pulling out these tokens, the investor decided to stake them. Few hours ago, another whale with the address 7CsCGy made…
South Korean cryptocurrency exchange Upbit has added Nervos Network’s CKB token to its trading platform, leading to a dramatic 18% rise in the token’s value in just 24 hours. This boost has significantly impacted the token’s market capitalization and trading volume, reflecting increased investor interest and market activity. Contents hide 1 CKB Trading Begins 2 Market Controls Initiated 3 Key Observations and Implications CKB Trading Begins Trading of the CKB token on Upbit commenced on September 13. The platform has specified that deposits and withdrawals can only be conducted through personal wallet addresses that have completed a stringent “ownership verification”…
The ongoing Bitcoin post-halving decline closely reflects the patterns observed during the 2015-2017 halving bull market cycle, suggesting a similar trajectory. Today, Bitcoin retraced to the $49,000 price channel for the first time in over seven months. This price range reappeared after Bitcoin’s value plunged from a high of $61,000 to $49,000, marking a significant correction of nearly 20% in just one day. Significantly, the crypto market has been anticipating a new all-time high for Bitcoin since its latest halving. However, the asset has consistently experienced low values. Bitcoin traded at $65,442 on April 20, the day of the halving,…