Author: NBTC

NBTC

NBTC is the editorial account for NBTC News, covering Bitcoin, Ethereum, DeFi, blockchain infrastructure, exchanges, mining, regulation and digital asset markets. The editorial team focuses on clear sourcing, timely updates and practical context for crypto readers.

Ethereum (ETH) Whales Disappearing: Details

Due to the exit of large holders from leveraged positions, Ethereum market sentiment could be on the verge of a switch. Whale address 0x89Da has recently closed a sizable long position of 21,683 ETH, which is worth roughly $93 million, according to on-chain data. Losses piling up For one of the more active addresses in the derivatives space, the trade resulted in a significant hit with a realized loss of approximately $6.6 million. The same whale indicated a full withdrawal from Hyperliquid after the closure by withdrawing all 9.6 million USDC. Due to Hyperliquid's popularity as a venue for leveraged…

EthereumAug 30

What to Expect and Crypto Market Impact

FOMC’s August 20 meeting could shape crypto market direction, with traders watching closely. Meanwhile, CME FedWatch Tool shows 83% chance of a 25-basis-point rate cut soon. However, Powell’s Jackson Hole speech may clarify Fed’s stance, fueling crypto optimism or disappointment. The upcoming Federal Reserve meeting on August 20 could decide how the crypto market moves in the weeks ahead. On top of it, Fed Chair Jerome Powell’s Jackson Hole speech may hint at a possible September rate cut. Many crypto experts are now wondering how digital assets might react to the Fed’s next decision. Fed Signals a Rate Cut Is…

RegulationAug 30

Shocking Sentence Unveiled for Corrupt Korean Officer

The world of cryptocurrency, often seen as a frontier of innovation, occasionally confronts stark reminders of traditional challenges, like corruption. Recently, a significant legal development in South Korea brought this into sharp focus: a former police officer faced a severe sentence for his involvement in a Queenbee token bribe scandal. This case isn’t just about a single individual; it’s a crucial signal about the growing need for integrity and accountability within the digital asset space and among those tasked with upholding the law. Unpacking the Queenbee Token Bribe Scandal The details surrounding the Queenbee token bribe are quite clear. A…

LegalAug 30

Does It Lead to Sell Bomb?

Ethereum prices slipped after hitting a near record last week, with analysts warning that a surge of unstaked coins could weigh on the market later this month. The cryptocurrency rose from $3,698 at the start of August to $4,788 last Thursday, its highest level in four years. But as of 9 am UTC on Monday, it had dropped to $4,260 — a 10% pullback after an almost 30% two-week rally. ETH Unstaking Wait Time Jumps from 25 to 40 Days The sharp gains triggered heavy unstaking activity. On-chain data provider Rated said that on Aug 9 alone, the Ethereum exit…

EthereumAug 30

Is Gemini Drawing on Funding from Ripple for Its Upcoming IPO?

A high-profile rumor is circulating in the crypto sphere: Is Gemini, the well-known crypto exchange founded by the Winklevoss twins, tapping into Ripple’s funding sources as it prepares for its anticipated Initial Public Offering (IPO)? Let’s investigate what’s accurate, what’s exaggerated, and what’s confirmed by the official filings. Who Started the Claim? The speculation grew after Gemini filed its S-1 IPO registration with the U.S. SEC, which revealed several strategic funding maneuvers as the exchange gears up for a public debut. Several news outlets, social media, and crypto forums suggested that Ripple Labs is directly funding Gemini’s IPO bid. But…

RegulationAug 30

Shocking New Bid Despite Bankruptcy Ruling

The South Korean crypto space is buzzing with a truly shocking development: Delio rehabilitation efforts are back in the spotlight. Despite a clear bankruptcy ruling from the Seoul Bankruptcy Court in November 2024, the crypto deposit platform Delio has once again filed for corporate rehabilitation. This marks its third attempt, following two previous dismissals, as reported by Digital Asset. This latest move adds another layer of complexity to an already tumultuous situation for the company and its many creditors, creating significant uncertainty in the market. What is This Delio Rehabilitation Bid All About? Delio, a prominent South Korean crypto deposit…

LegalAug 30

On-chain data has revealed a surge in stablecoin inflows to Binance exceeding $1.5B

For the second time this month, Binance has recorded an influx of stablecoins surpassing $1.5B as well as large outflows of Ethereum. Both outcomes reflect investor confidence that coincides with bullish BTC price action. The large inflow of stablecoins on Binance coincides with aggressive ETH withdrawals, hinting at an exciting future for crypto. ETH daily inflow chart. Source: CryptoQuant However, analysts have also noted that Bitcoin’s Taker Buy Sell Ratio indicator, adjusted with a 30-day moving average, just recently reached its lowest level since November 2021, a time marked by the historic peak of the previous cycle. Binance sees action…

ExchangesAug 30

ETH unstaking wait queue hit multi-year high

Over the weekend, there was a rush for the exits from the world’s largest Proof-of-Stake blockchain. As of 20:00 UTC Sunday evening, staters queued up 893,599 ether (ETH) to unstake their $4 billion out of the Ethereum network. Ethereum limits the quantity of ETH that may unstake per 6.4 minute epoch. If more ETH is being unstated than what can be processed in the upcoming epoch, extra ETH must wait in queue. As of 2:00 UTC Sunday morning, Ethereum’s unstaking wait time also lengthened to its worst validator queue in history: 15.5 days. There was one leading explanation for the…

EthereumAug 30

Wall Street pulls in record haul off supporting the $100 billion rush for crypto treasuries

Several public companies are driving head straight into digital assets with funds specifically allocated to create treasuries of Bitcoin and other cryptos. After the US Securities and Exchange Commission (SEC) approved spot Bitcoin ETFs in January 2024 to change Wall Street’s perspective on digital assets, institutional total holdings have so far surpassed $100 billion. Over the past six months, more than 152 publicly traded companies now control more than 950,000 Bitcoins, worth over $110 billion, according to Bitcoin Treasuries.net. For some, the motivation lies in diversifying balance sheets, hedging against inflation, or appealing to younger investors. But for others, crypto…

RegulationAug 30

Crypto Industry Unites Against Senate Bill Over Protections for Software Devs

A massive coalition of tech lobbying groups and crypto companies jointly issued a letter to the Senate Banking Committee Wednesday, warning they will collectively protest an upcoming crypto market structure bill unless it features key legal protections for software developers. “We […] speak to Congress with one voice: provide robust, nationwide protections for software developers and non-custodial service providers in market structure legislation,” the letter reads. “Without such protections, we cannot support a market structure bill.” A total of 114 parties signed the letter, including Andreessen Horowitz, Coinbase, DCG, Grayscale, Kraken, Paradigm, Solana Labs, and Uniswap Labs. Numerous lobbying groups…

LegalAug 30