Author: NBTC

Alongside many other altcoins, ETH’s price continues to struggle, and its future now hinges on some critical support levels. If these key levels fail to hold, ETH could face a prolonged bearish period. Recent price action has shown that Ethereum (ETH) could be on the verge of bidding farewell to this cycle, which many have tagged as the enduring phase of the bull market. Ethereum Is About to Lose the Battle Six months ago, Ethereum’s Market Value to Realized Value (MVRV) Long/Short Difference hit a yearly high of 55%. This on-chain indicator is key during bull markets, as it reveals…

Shibarium has continued to lose its edge as a competitive layer-2 scaling solution on Ethereum. Current data from Shibariumscam shows that the protocol’s daily transaction count was 4,002 as of Aug. 26. This is a troubling fall from the more than 28,600 transactions recorded on Aug. 20. Shibarium losing its edge What works for Shibarium now remains to be seen, as its core metrics fluctuate widely. While the transaction count has hovered from a low of 1,850 per day to this peak of 28,600, the impact of this consistency on the network is telling. Shiba Inu still ultimately depends on…

The South African government is tightening its grip on cryptocurrency trading. Tax authorities (SARS) are issuing tax notices and clarifying regulations, likely using AI to identify non-compliant traders. The central bank meanwhile has clarified rules for crypto purchases, allowing individuals limited investment but restricting companies. SARS Using AI to Track Down Tax Dodgers South African Revenue Services (SARS) has reportedly intensified its focus on crypto traders. The agency is issuing tax notices and clarifying exchange control regulations. According to a report, SARS is basing these actions on information obtained from crypto exchanges. This approach represents an escalation in SARS’s efforts…

Bitcoin’s recent price recovery, which followed a sharp correction earlier this week, has been fueled primarily by institutional investors, according to JPMorgan analysts. Bitcoin is Supported by Institutional Investors, According to JPMorgan Analysts Despite the significant decline of over 15% on Monday, institutional interest in Bitcoin futures remains strong and minimal risk mitigation is observed. On Monday, cryptocurrency markets suffered their steepest decline since the FTX crisis, with Bitcoin’s price falling more than 15% before rebounding. JPMorgan analysts, led by managing director Nikolaos Panigirtzoglou, attributed this recovery to continued support from institutional investors. The published report highlighted that these investors…

Whales and institutions have dumped over 63,538 ETH worth $141.7 million on Binance and Kraken. ETH could fall by 30% to the $1,500 level if it fails to hold this support level. ETH’s RSI has formed a bullish divergence, indicating a potential trend reversal from a downtrend to an uptrend. Ethereum (ETH) is facing significant selling pressure from whales and institutions, signaling a potential major price drop. On September 7, 2024, the overall cryptocurrency market experienced a notable price decline including Bitcoin (BTC) and Ethereum (ETH) resulting in continuous sell-offs by whales and institutions. Whales and Institution Offloads $141M of…

The XRP community recently unearthed details on the collaboration of Nium, a rival to Ripple in cross-border payment, with J.P. Morgan for FX solution. Singapore-based fintech Nium excels in enabling seamless real-time cross-border payments for financial institutions globally. Its network spans 220+ markets and supports transactions in 100 currencies. However, before achieving this level of reach, Nium faced significant challenges, particularly in Asia. Details of Nium Alliance with J.P. Morgan In particular, Asia Pacific’s diverse financial regulations and dynamic compliance requirements posed substantial hurdles to Nium’s expansion efforts. As a result, Nium would have to navigate complex and sometimes conflicting…

Federal prosecutors have fired back against Ryan Salame’s allegations that they reneged on agreements made in the former FTX executive’s plea deal – namely, that they would cease criminal investigations into Michelle Bond, Salame’s longtime partner and the mother of his child. But prosecutors say they never made Salame any such promises, either formally or informally, and that their prosecution of Bond is fair game. In a scathing 32-page memorandum filed Thursday, prosecutors urged U.S. District Court Judge Lewis Kaplan of the Southern District of New York (SDNY) to reject Salame’s recent petition asking for the conditions of his plea…

If BTC’s 4-hour candle closes above $58,400, there is a high chance it could soar to the $62,500 level. Brandt predicted that Bitcoin (BTC) could fall to the $40,000 level before the next halving event. An Expert hints the crypto market has returned to an extreme fear zone, offering an opportunity to buy Bitcoin. During the ongoing market recovery, veteran trader and chartist Peter Brandt recently made a post on X (previously Twitter) that gathered massive attention from the crypto community. Peter Brandt’s Bitcoin prediction In a post, Brandt predicted that Bitcoin (BTC) the world’s biggest cryptocurrency, could fall to…

Ethereum has been notably bearish, marked by a sharp decline following a pullback to the lower boundary of a broken wedge, coupled with the formation of a death cross. Despite this, the price is nearing a crucial support level that could lead to a short-term sideways consolidation. By Shayan The Daily Chart Ethereum has been in a strong downtrend, instilling fear and uncertainty among market participants. Low inflows into spot ETH ETFs have further underscored this sentiment, signaling reduced investor interest and the appearance of the death cross, where the 100-day moving average crosses below the 200-day moving average. Following…

Market commentator and crypto YouTuber Levi believes XRP has a chance at hitting a four-digit figure amid an imminent adoption surge. In a video recently shared on X, he set an audacious $10,000 target for XRP. Interestingly, the market pundit based this target on comments from James Wallis, Vice President of Central Bank Digital Currencies (CBDCs) at Ripple. In two separate interviews, Wallis extensively discussed the ongoing projects and pilots that Ripple is spearheading worldwide, which Levi believes could drive XRP’s price to unprecedented heights. Global Pilots and XRP Ledger Projects Levi highlighted the extensive work Ripple has been carrying…