Author: NBTC
Ethereum price is attempting a recovery wave above $2,420. ETH must clear the $2,500 resistance to continue higher in the near term. Ethereum is attempting a recovery wave from the $2,320 zone. The price is trading below $2,480 and the 100-hourly Simple Moving Average. There was a break above a key bearish trend line with resistance at $2,430 on the hourly chart of ETH/USD (data feed via Kraken). The pair must clear the $2,500 resistance to continue higher in the near term. Ethereum Price Faces Resistance Ethereum price extended losses below the $2,400 level. ETH even traded below the $2,350…
The crypto market witnessed noteworthy outflows from prominent Ethereum and Bitcoin ETFs on September 2, indicating likely changes in market strategy and investor sentiment. September 2 was the first trading day of this month. A popular on-chain analytics provider Lookonchain disclosed that the massive outflows from $BTC and $ETH ETFs indicate the wider market apprehensions or institutional investors’ profit-taking strategies. The on-chain analytics firm disclosed the current ETF position on social media. Sept 2 Update:10 #Bitcoin ETFsNetFlow: -795 $BTC(-$46.53M)🔴#Grayscale(GBTC) outflows 392 $BTC($22.96M) and currently holds 226,862 $BTC($13.29B).9 #Ethereum ETFsNetFlow: -861 $ETH(-$2.17M)🔴#Grayscale(ETHE) outflows 2,237 $ETH($5.63M) and currently holds 1,807,366… pic.twitter.com/S2Y59qrZ0G —…
In a major step forward for the tokenization of real-world assets (RWA), Xalts has teamed up with the Tezos Foundation to simplify and accelerate blockchain application development for enterprises. This collaboration integrates Xalts’ RWA Cloud with Tezos’ Layer 2 solution, Etherlink, creating a fast, low-cost pathway for institutions, governments, and financial services to tokenize everything from funds and commodities to digital currencies.—A Seamless Solution for Enterprise Blockchain AdoptionThe Xalts-Tezos partnership is designed to lower the barriers for large institutions looking to adopt blockchain technology. Xalts’ RWA Cloud, an enterprise application platform, now supports Etherlink—a non-custodial Layer 2 blockchain powered by…
Wrapped Bitcoin (WBTC) was the focus of the cryptocurrency community recently, especially about Justin Sun’s possible impact. There has been a lot of conjecture regarding the future of WBTC since BitGo announced that it intends to hand over control of the cryptocurrency to a joint venture with BiT Global. Instead of continuing with the current U.S.-based arrangement, custody will now be split between places like Singapore and Hong Kong. Justin Sun has made it clear what his position is in the WBTC ecosystem in spite of these adjustments, stating that it is solely strategic. He claims that the private keys…
Monochrome Asset Management, in partnership with Vasco Trustees Limited, has officially applied to list the Monochrome Ethereum exchange-traded fund (ETF) on Cboe Australia, the company shared in a Thursday press release. Monochrome expects a decision before the end of this month. Designed to passively hold Ethereum (ETH), Monochrome’s proposed product aims to provide retail investors with a regulated method to invest in the world’s second-largest crypto asset by market capitalization. If approved, the ETF will be listed under the IETH ticker, said the firm. The introduction of IETH is set to expand the variety of regulated investment options in crypto…
The MVP Group, under the leadership of Filipino tycoon Manuel Pangilinan, has announced the acquisition of key stakes in two prominent payment companies. DigiCo, the digital entity owned by MVP Group, has entered into separate agreements to acquire a 10% interest in Bayad Center (“Bayad”) and 100% of Multipay Corporation (“Multipay”). According to its press release, the move aligns with MVP Group’s broader strategy to enhance digital payment solutions in the Philippines. DigiCo, a collaborative venture owned by PLDT Inc., Manila Electric Company (Meralco), and Metro Pacific Investments Corporation (MPIC), aims to leverage its extensive resources and data assets to…
Some XRP proponents have recently brought back into discussion statements from the well-known American exchange Uphold regarding the possibility of XRP reaching $1,000. In a post on X, an XRP community member revisited past commentaries where Uphold had sparked conversations about XRP’s future. Between 2020 and 2021, Uphold repeatedly asked XRP enthusiasts what their first action or reaction would be if XRP were to reach a price of $1,000. “What’s the first thing you’d do if XRP reached $1,000?” Uphold would ask in some instances. This inquiry often garnered reactions from XRP enthusiasts, with some humorously commenting that they would…
SKALE Labs and Moxy, an esports and gamification platform, are partnering to reshape the gaming industry. According to SKALE Labs, the collaboration marks a key milestone in bridging web2 and web3 gaming. SKALE is a blockchain network that allows for scalable and user-centric decentralized applications across gaming, artificial intelligence, and other dApps. These applications leverage SKALE’s gas-free and fully Ethereum (ETH) virtual machine-compatible network to accelerate mass adoption. With SKALE’s gasless blockchain going live on Moxy, the gaming space is set for transformation, changing how gamers earn rewards. “By eliminating gas fees and harnessing SKALE’s high throughput infrastructure, we are…
Bitcoin is at a critical point, and crypto analyst Caleb Franzen is paying close attention. He recently analyzed a key chart that tracks Bitcoin’s performance since the end of 2022, focusing on the 200-day moving average. In an interview with Thinking Crypto, Franzen explained that Bitcoin’s recent drop below these long-term averages is concerning. In bull markets, prices usually stay above these key levels. Dropping below them could signal that Bitcoin might be entering a bearish phase. However, Franzen isn’t panicking. He pointed out that similar drops happened before, in August and June, and each time Bitcoin quickly bounced back.…
Ethereum is down nearly 35% from July highs and roughly 40% from 2024 peaks. While there is hope among holders that the coin will expand, breaking local resistance, the short-term trend favors sellers. From the daily chart, not only is ETH struggling to gain momentum and push above $2,800, but sellers have been relentless, diffusing any attempt higher. As the coin is capped below $2,500 at press time and actively aligning with the selling pressure of late August, Santiment analysts have picked out an interesting development. Ethereum Register More Users Than Bitcoin In a post on X, the sentiment analysis…