Author: NBTC
A crypto trader recently struck gold by turning a small investment of 0.2 SOL ($29) into over 866.13 SOL ($125,000) in just three minutes, achieving a massive 4,330x return. This incredible success came from trading an Ethereum meme coin named $MBAPPE, proving that sometimes, buying meme coins can pay off in a big way. Profit-Making Strategy That Works According to Lookonchain, a well-known blockchain analytics platform, this trader didn’t just rely on luck. Over the past month, he has been trading meme coins regularly, making 251 different trades. For each trade, he invested small amounts like 0.1, 0.2, or 0.3…
A law professor at the East China University of Political Science and Law has highlighted the urgent need for China to standardize procedures for recovering illicit digital assets due to a rise in cryptocurrency-related crimes. He stressed the lack of uniform standards complicates asset recovery and urged for comprehensive guidelines and international cooperation to manage digital currencies effectively. China Urged to Standardize Digital Asset Recovery A law professor at the East China University of Political Science and Law, Yang Kai, emphasized the urgent need for China to standardize the recovery of illicit digital assets in an article published on Tuesday…
Blockchain analysts warn that the Russian government may use crypto exchanges like Garantex for sanctions evasion under the new legislation. The Russian government is likely to rely on domestic crypto exchanges like Garantex for sanctions evasion as it adapts to new crypto regulations, analysts at Chainalysis alarm. In a recent blog report, Chainalysis noted that Garantex, a platform that has processed nearly $100 billion in transactions since 2018, offers deep liquidity across major blockchains, making it a potential tool for Russia’s efforts to maintain cross-border trade amid financial restrictions. Although the report emphasizes that Garantex’s large-scale transaction volume does not…
Cryptocurrency analyst il Capo has discussed the state of Bitcoin and the general crypto market in his new analysis. Il Capo, who is generally known as a bearish analyst, has recently left this attitude behind and said that he believes BTC will experience a significant rise. The analyst has similar thoughts for altcoins. In his latest post, il Capo discussed the current state of the market. According to the analyst, the fact that the Bitcoin price managed to reclaim $ 60,000 seems to be in favor of the bull. il Capo thinks that the current bullish confirmation is possible with…
Since August 31, the amount of Ethereum (ETH) sent to exchanges has been gradually increasing. This surge coincides with ETH facing strong resistance at the $2,750 price level. As of now, ETH is trading at $2,466. If selling pressure continues to mount, ETH risks further decline. Ethereum Holders Send Coins To Exchanges As ETH faces strong resistance at $2,750, holders are increasingly sending their coins to exchanges, as shown by the rising exchange reserves. According to CryptoQuant, 19 million ETH, valued at $47 billion, are now held on exchange wallets — a 1.01% increase over the past week, the highest…
A California Superior Court has upheld the Digital Financial Assets Law, which includes a $1,000 daily withdrawal limit for cryptocurrency ATMs. The law also requires crypto ATM operators to obtain licenses and comply with fee limits and new disclosures. California Court Upholds Bitcoin ATM Withdrawal Limit The California Department of Financial Protection and Innovation (DFPI) announced on Wednesday that the Superior Court for Los Angeles County has confirmed the consumer protections outlined in the Digital Financial Assets Law (DFAL) for users of cryptocurrency kiosks, commonly known as bitcoin ATMs. The Alliance for the Fair Access to Cryptocurrency Terminals filed a…
Binance has secured formal consent from the Astana Financial Services Authority to operate as a fully regulated trading platform in Kazakhstan. Crypto exchange Binance has moved a step closer to becoming the first fully regulated trading platform in Kazakhstan after securing formal consent for a full regulatory license from the Astana Financial Services Authority. In a Sept. 6 announcement, the exchange said that the approval for its local branch Binance Kazakhstan positions it as potentially the first crypto exchange in the region with a full license. The exchange says its branch had to pass a series of external financial audits,…
On the 9th of August, the Bitcoin and Ethereum exchange-traded funds in the United States went through huge outflows. Spot On Chain, a popular on-chain analytics platform stated that the massive outflows of up to $16M and $90M from ETH and BTC ETFs indicate a cautious shift in the crypto market regarding investor sentiment. The analytics provider took to its official social media account to provide the details of the ETF flows. 🚨 US #ETF 09 AUG: 🔴$90M to $BTC and 🔴$16M to $ETH🌟 BTC ETF UPDATE (final): -$90M• The 10 US Bitcoin ETFs saw a total outflow of $177M…
Ethereum, the second-largest cryptocurrency by market cap, suffered its steepest monthly decline in more than two years this August amid weak demand for ETH-focused ETFs and growing technical criticism. The asset’s price fell by 22% to around $2,500, its worst performance since June 2022. “Marginal new buyers don’t see value at current prices,” said Quinn Thompson, founder of crypto hedge fund Lekker Capital, citing the lack of interest from new buyers. Thompson suggested that Ethereum’s price may need to fall further before it attracts new investment. The launch of Ethereum ETFs, which many hoped would boost the asset, has instead…
On September 4, 2024, Polygon is set to introduce its new native token, POL, marking a significant shift from the existing MATIC token. This upgrade is part of Polygon’s broader strategy to evolve from a single proof-of-stake (PoS) network into an expansive ecosystem of blockchains powered by zero-knowledge (ZK) technology. This article breaks down everything you need to know about this MATIC to POL migration and what it means for the future of Polygon. Polygon’s Ambitious Evolution: The AggLayer Polygon is widely recognized as a fast and cost-effective Ethereum (ETH) sidechain, but its journey began in 2017 with the launch…