Author: NBTC
Ethereum (ETH) spot exchange-traded funds (ETFs) became tradeable on July 23. However, despite initial enthusiasm, these investment funds have struggled to maintain investor interest. In recent weeks, ETH ETFs have faced substantial net outflows, with only one week of inflows recorded since their launch. Ethereum ETFs Record Steady Outflows According to data from SosoValue, ETH spot ETFs recorded a net outflow of $341.35 million in their first week of trading, marking the largest outflow to date. The second week saw a reduced outflow of $169.35 million, indicating that while investor interest continued to decline, the pace of withdrawals slowed slightly.…
Blockchain developer platform Alchemy has acquired Bware Labs, the main company behind infrastructure provider platform Bware. The deal is expected to increase Alchemy’s headcount by about 25%. Alchemy disclosed the acquisition on Thursday without revealing the purchase price. However, company officials told CoinDesk this was its biggest acquisition to date, bringing on 41 developers and engineers from the Bware team and increasing Alchemy’s headcount to 190. Bware Labs was founded in 2021 in Romania by five engineers. The company’s stated goal was to provide affordable blockchain tooling and infrastructure solutions to web3 developers. With the purchase, Alchemy will expand its…
From Jason Derulo to Iggy Azalea and Caitlyn Jenner, there’s been a rush of celebrities flooding the meme coin world—though the initial novelty of this latest wave of celebrity coins may be wearing off on traders, especially amid a rise in scams aiming to capitalize on the craze via hacked social media accounts. Rapper Waka Flocka Flame (aka Juaquin James Malphurs), is part of that pack of recent celeb entrants into the meme coin world—and in an exclusive interview with Decrypt, he said he remains focused on his FLOCKA community, paying little attention to other coins and what their celebrity…
Binance will list Eurite (EURI) on August 28, 2024 at 1:00 PM UTC and open trading on two new spot pairs: EUR/EURI and EURI/USDT. To celebrate the launch, Binance will be offering a zero trading fee promotion for the newly listed pairs. Binance to List Eurite (EURI) and Launch Zero Trading Fee Promotion Eurite (EURI) Listing Details: New Spot Trading Pairs: EUR/EURI and EURI/USDT EURI Listing Fee: 0 BNB Process Starts: August 28, 2024, 13:00 Withdrawal Opens: August 29, 2024, 13:00 Zero Fee Promotion: Eligible users will enjoy zero trading fees on EUR/EURI and EURI/USDT spot and margin trading pairs…
Cofounder of Ethereum Vitalik Buterin recently posted a long-awaited bullish post on Twitter. Buterin, who is well-known for taking a generally calm and contemplative stance on Ethereum discussions, changed the tone of his post. A tweet by Buterin featured a picture of a bull holding a sign that said “Ethereum is good.” Another tweet proposed a third layer that emphasized the significance of Ethereum applications. Some users also endorsed Arbitrum, one of the largest L2 networks on Ethereum. Considering the continuous criticism Buterin has received for what is seen to be a lack of attention to Ethereum’s price performance, this…
Former U.S. President Donald Trump’s mysterious new crypto business plans to offer access to “high-yield” opportunities, according to a clue embedded in the website for the project called World Liberty Financial. Metadata on worldlibertyfinancial.com says “the only crypto DeFi platform supported by Donald J. Trump” will connect users to “decentralized finance’s best tools for secure, high-yield crypto investments.” It calls on users to “join the financial revolution today!” A trademark filed for World Liberty Financial in mid-July also points to an association with DeFi. The lawyer who filed the trademark papers, Alex Golubitsky, confirmed to CoinDesk on Thursday that the…
Solana-based meme coins are among the categories with the largest gains in the past 24 hours, presenting a 5.6% growth, while Bitcoin (BTC) struggles with a 2% pullback in the same period. According to data aggregator CoinGecko, the Solana meme coin with the largest gain was Gigachad (GIGA), with a 67.5% daily leap. For the past seven days, GIGA’s performance has been even more significant, showing a 217% rise. Image: CoinGecko The dog-themed coin Billy (BILLY) also showed a similar performance, as it shot up by nearly 50% in 24 hours, and over 160% within seven days. Meanwhile, the Sad…
Bybit, the world’s second-largest cryptocurrency exchange by trading volume, has confirmed it has opened a new Amsterdam office on August 22. This move marks a significant milestone in Bybit’s European expansion and highlights the platform’s commitment to innovation and growth within the Dutch market. At the @Bybit_Official office opening in Amsterdam! 👋 pic.twitter.com/GE7XZULHlf — Sjuul | AltCryptoGems (@AltCryptoGems) August 22, 2024 Bybit’s Amsterdam office The Amsterdam office stands as a symbol of Bybit’s dedication to the Dutch crypto community. Made possible by Bybit’s partnership with SATOS, which led to the launch of Bybit.nl in March, the new expansion comes with…
According to Coinglass data, strategic withdrawals from major platforms like Coinbase Pro and Bitfinex have led to the accumulation of over 23,000 BTC. Previously, CNF reported that Bitcoin accumulation mirrors 2019 levels, suggesting a $100K parabolic rally is imminent. This has also sparked speculation that certain altcoins are set to explode in price. In brief, Bitcoin’s price surge is attributed to five key factors: Strategic Withdrawals: Over 23,000 BTC were strategically withdrawn from major exchanges like Coinbase Pro and Bitfinex, indicating strong confidence from long-term holders. Strong ETF Inflows: Significant investments from institutions like BlackRock and Fidelity have boosted Bitcoin…
Ethereum price is consolidating above the $2,550 resistance. ETH could gain bullish momentum if it clears the $2,650 resistance zone. Ethereum is struggling to gain pace for a move above the $2,650 level. The price is trading above $2,600 and the 100-hourly Simple Moving Average. There is a short-term contracting triangle forming with resistance at $2,640 on the hourly chart of ETH/USD (data feed via Kraken). The pair could gain bullish momentum if there is a close above $2,650. Ethereum Price Starts Consolidation Ethereum price remained stable above the $2,550 level. ETH formed a base and started a steady upward…