Author: NBTC
Analyst Benjamin Cowen is issuing a warning on Ethereum (ETH) as the second-largest crypto asset lingers around 40% below the 2024 high recorded in March. Cowen tells his 811,000 YouTube subscribers in a new video that Ethereum could depreciate by at least 5% against Bitcoin (BTC) going forward. “When I look at this chart what do I see? I see that Ethereum/Bitcoin is likely going to form a bottom between now and the end of the year. It’s possible that it’s already in, but I would still say I’m still sort of leaning that it could go sub 0.04 BTC.”…
Sberbank, Russia’s largest lender, aims to begin offering digital ruble transactions to its customers in early 2025, according to a senior bank executive. Russia‘s banking giant Sberbank plans to start operations with the country’s central bank digital currency — also known as the digital ruble — for its customers in early 2025, Sberbank’s deputy chief executive Anatoly Popov, told Reuters. Sberbank is among Russian banks expected to join the project in the second round of testing CBDC, along with about 20 other financial institutions. Speaking on the factual usage, Popov said the bank plans to start “actual operations [with the…
As Monday saw a 6% drop in the price of Dogecoin (DOGE), a new wave of bullish activity emerged on the chain of the popular meme cryptocurrency. According to data from IntoTheBlock, the net flow of DOGE into the wallets of large holders increased by more than 118% over the past day – from 67.85 million to 148.36 million tokens, which is equivalent to $14.84 million. The metric shows how the positions of whales and investors with more than 0.1% of the supply of Dogecoin are changing. Basically, spikes in netflow mean that large players are building their positions, while…
WadzChain Layer 2 handles 24,000 TPS, matching VISA’s speed for instant transactions. WadzChain slashes fees to under $0.01, optimizing costs for retail and finance sectors. Over $4.3 billion in real assets tokenized, enabling fractional investments in real estate and art. WadzPay is set to revolutionize blockchain technology with its imminent launch of WadzChain Layer 2. This new development promises enhanced scalability, reduced costs, and innovative tokenization opportunities across various sectors, including finance, retail, and gaming. 🚀 #WadzChain Layer 2 by WadzPay is launching very soon ! 🔥💡Why it stands out:Scalability: Handles 24,000 TPS for lightning-fast transactions, as the standard for…
Ethereum derivatives volumes on the CME have plunged sharply following the launch of spot Ethereum ETFs, reflecting reduced institutional interest. Trading volumes for Ethereum derivatives on the CME exchange experienced a significant decline in August as Ethereum futures volume plummeted 28.7% to $14.8 billion, while options volume dropped 37.0% to $567 million, marking the lowest levels since December 2023. Data provided by CCData shows that the downturn comes just months after the introduction of spot Ethereum exchange-traded funds in late May, signaling “lower-than-expected institutional interest in the asset.” CME institutional volume | Source: CCData Overall, CME’s derivatives trading volume plunged…
Riot Platforms has intensified its efforts to acquire rival Bitcoin miner Bitfarms by issuing an open letter to the firm’s shareholders on Sept. 3. In the letter, Riot announced that it had lowered its request for board seats at Bitfarms to two independent directors following recent removals while also criticizing several of the company’s recent decisions. Criticism of Stronghold acquisition Riot raised concerns about Bitfarms’ recent acquisition of Stronghold, a deal valued at $175 million. According to the firm, this transaction represented a premium of over 100% compared to Stronghold’s closing share price the day before the announcement. Riot pointed…
The cryptocurrency space erupted today when the world’s largest exchange Binance made a mysterious announcement. In a recent post on X, the black-and-yellow crypto giant simply mentioned “BNSOL” and then said that it is coming soon. Many began to guess at what this meant, as no clear answer was given. But there must be one. According to Solana Compass, the secret behind BNSOL could be Binance Staked SOL. As many may know, Solana is a token that can be staked. The purpose behind staking SOL tokens is to participate in the network as a validator or to participate in the…
Wrapped Bitcoin (wBTC) corresponds to approximately 10% of the overcollateralized stablecoin DAI reserves, which investors now consider removing as collateral. This decision could start a Bitcoin (BTC) sell-off if investors decide to close their wBTC exposure following Bitgo’s controversial announcement. On August 10, a BA Labs spokesperson raised a risk-mitigation issue related to wBTC changes on MakerDAO’s (MKR) governance forum. As explained in the proposal, Bitgo announced a plan to transfer control of wBTC to a joint venture with BiT Global. Moreover, the leading custody solutions provider, Bitgo, disclosed this would result in a partnership with Justin Sun and Tron…
The NFT market has experienced notable shifts over the past week, with Guild of Guardians leading the charge in weekly sales volume. This collection has risen to the top, surpassing some of the industry’s most well-established players. TOP #NFT COLLECTIONS BY WEEKLY SALES VOLUME #GuildofGuardians #BoredApeYachtClub #CryptoPunks #Dogezuki #Sorare #PudgyPenguins #MadLads #OrdinalsMaxiBiz #SolanaMonkeyBusiness #Courtyard #Runestone #NodeMonkes pic.twitter.com/TREtiSAkRJ — PHOENIX – Crypto News & Analytics (@pnxgrp) September 5, 2024 According to PHOENIX, guild of Guardians has emerged as the top performer in the past week, claiming the highest sales volume among NFT collections. The rise of this gaming-related collection highlights the…
Read also: ETH Price Stalls as ETF Inflows Stay Weak Ether (ETH), the second-largest cryptocurrency, has experienced a notable increase in its circulating supply recently, which could potentially influence its price based on the principle of supply and demand. Data from ultrasound.money reveals a substantial addition of 16,411.40 tokens to Ethereum’s circulating supply over the past week. On August 25th, the supply of ETH was 120,308,385, rising to 120,324,796 by September 5th. The data also indicated around 92,000 ETH burned annually. It is important to note that the total ETH tokens issued in the past week amounted to 18,175.27 ETH,…