Author: NBTC
A report presented to the Paraguayan Congress highlights the low level of employment associated with the country’s bitcoin mining activity. According to data from the Social Care Institute, the entire bitcoin mining industry is responsible for only 383 direct jobs, with over 40 companies not reporting any workers directly associated with their operations. Paraguayan Bitcoin Mining Industry Registers Less Than 400 Workers A report presented last week to the Chamber of Senators highlights the low employment level brought to the country by the Paraguayan bitcoin mining industry. The report, which takes data provided by the Social Care Institute (IPS), found…
Bitcoin (BTC) has failed to break past the $60,000 resistance zone, with the maiden cryptocurrency consolidating below this level. A break above the $60,000 resistance is a significant catalyst likely to propel Bitcoin to a new all-time high. Amid the current price movement, Bitcoin has witnessed increased whale activity as investors anticipate a possible breakout. For instance, crypto analyst Ali Martinez shared data in an X post on August 19, revealing that Bitcoin whales have recently realized over $92.7 million in profits. According to the latest data from CryptoQuant, a surge in profit-taking activity occurred between late July and mid-August.…
Ethereum ETFs record their longest outflow streak with five days of consecutive negative flows. Ethereum exchange net flow has increased to 31K ETH, its highest since the market crash on August 5. Vitalik Buterin says Ethereum is growing based on several key metrics. Ethereum technical indicators suggest a range-bound movement amid mixed sentiments from futures traders and fund investors. Ethereum (ETH) is down 1% on Thursday as its ETF and exchange net flows suggest that sellers dominate the market. Despite the selling pressure, Ethereum co-founder Vitalik Buterin shared a post depicting its growth across several metrics. Daily digest market movers:…
The Polymarket bets on US presidential elections tracked the rumors about Joe Biden leaving the run today. In the afternoon, the odds of Kamala Harris winning the election reached 18%, two times the odds favorable to Biden. Additionally, over $11 million was directed to betting on Harris. As reported by Reuters, there was a rumor about Biden not running for his second mandate as US president, and Harris was the “top choice” to replace him. However, a few hours later, the Democrats representative told the press that he is running. Consequently, the odds of Biden winning the election at Polymarket…
Herring Global, a rising player in the digital asset trading sphere, has recently made notable executive appointments that could significantly impact its growth. The addition of Christian Fischer and Benjamin Toh underscores the company’s commitment to technological innovation and compliance in an evolving cryptocurrency landscape. Ervin, the CEO, expressed enthusiasm about their contributions, highlighting the strategic importance of these roles in enhancing the firm’s trading infrastructure. Discover how Herring Global’s new executive team is poised to reshape the digital asset trading landscape with their expertise in technology and compliance. Leadership Changes at Herring Global Signal Growth Ambitions Herring Global has…
Comparison of three-day changes in BTC’s price and Republican election odds between June 1 and Aug. 15 show lack of definitive correlation between the two variables. A lot could change in the coming weeks, according to FalconX. While the popular narrative suggests a strong positive link between bitcoin’s (BTC) recent price performance and Republican candidate Donald Trump’s victory odds in the U.S. presidency rate, market data suggests otherwise. Since Trump’s mid-June meeting with bitcoin miners, crypto market experts have consistently associated the Republican candidate’s performance on betting markets with bitcoin’s price. The narrative strengthened after Trump survived an assassination attempt…
In the last 30 days, Ethereum has suffered a decline of over 22.6%. In the latest market cycle, this cryptocurrency could not perform as well as Solana and Bitcoin. In the last 7-days, the price of Bitcoin has seen a rise of nearly 4.4%, and Solana has witnessed a hike of at least 0.4%. Among the top five cryptocurrencies by market cap, Ethereum is the crypto that has marked the highest fall in the last 30 days. Does it sound odd? Let’s see what experts have to say about this. Ethereum’s Underperformance: A Few Key Observations by Experts Earlier, it…
Ikigai Strategic Partners LLC, a commodity pool operator based in Rio Grande, Puerto Rico, just got hit with a $150,000 fine. The National Futures Association (NFA) came down hard on them after finding out they screwed up big time with their Bitcoin-related operations. Their president, Anthony Robert Emtman, is also in the hot seat. On April 29, the NFA’s Business Conduct Committee (BCC) dropped a complaint on Ikigai, an NFA member that’s supposed to know better. What’s the beef? Well, it seems Ikigai Strategic allowed one of their funds, the Ikigai Opportunities Master Fund, to funnel money to an affiliate…
Russia is said to begin trials of crypto exchanges and token transactions for cross-border payments to mitigate the impact of international sanctions. Russia appears to be days from starting trials of crypto exchanges and token transactions for cross-border deals in a bid to bypass challenges faced under international sanctions, Bloomberg has learned, citing sources familiar with the matter. The trials, scheduled to start on Sept. 1, will involve using the National Payment Card System to facilitate the exchange between Russian rubles and cryptocurrencies, the sources say. This initiative follows recent legislation passed by Russia’s parliament that legalizes crypto mining and…
Bitcoin’s (BTC) price closed last week in an indecisive spinning top candlestick after being rejected several times for around $60k. However, the flagship coin has continued to defend the support level around $58k, which could be a basis for the long-term bullish sentiment. Furthermore, since early March this year, Bitcoin’s price has formed a potential bullish flag. Despite the notable Bitcoin accumulation by institutional investors since the approval of IS-based spot BTC ETFs, traders have been gripped by the fear of further capitulation. Bitcoin’s fear and greed index has remained below 30 percent in recent times, suggesting an extreme fear…