Author: NBTC
Ethereum price started a downside correction below the $3,880 support. ETH is now testing the $3,760 support and might aim for a fresh increase. Ethereum started another downside correction below the $3,880 zone. The price is trading above $3,750 and the 100-hourly Simple Moving Average. There is a connecting bearish trend line forming with resistance at $3,880 on the hourly chart of ETH/USD (data feed via Kraken). The pair could restart its increase unless there is a move below the $3,760 support. Ethereum Price Dips To Support Ethereum price failed to test the $4,000 resistance zone and started a downside…
Ask a typical Bitcoiner to name the most influential mining company, and they would almost certainly name Bitmain. The company is by far the world’s dominant mining rig manufacturer and leads a near-majority of mining pools: Antpool and its many sockpuppets. Quietly, however, stablecoin giant Tether has been increasing its influence with a variety of bitcoin miners across the globe. The stablecoin giant recently invested $100 million in Bitdeer, a publicly traded company operated by a Bitmain co-founder, and it’s also the leading investor in Blockstream, Bitcoin’s leading development company. Funded partly by Tether, Blockstream has an operating mining division…
Chakra, the first ZK-driven BTC settlement network with a universal restaking protocol, has revealed its partnership with the Starknet Foundation. This collaboration is intended to improve parallelization and decentralized or shared sequencing for the Madara Starknet Substrate stack. Announcing our technical team’s strategic partnership with @Starknet @starknetfndn to push frontiers around parallelization & decentralized/shared sequencing technologies for the @MadaraStarknet Substrate stack. pic.twitter.com/PakW5B15SA — Chakra 🌊 Testnet is LIVE 🌊 (@ChakraChain) June 3, 2024 Chakra and Starknet to Release BlockSTM on Mainnet for TPS Enhancement One of the key initiatives is optimistic parallelization using BlockSTM. This technology is expected to be…
Bitcoin’s decline reflects market caution ahead of pivotal CPI data release. Bitcoin’s (BTC) price has shown volatility ahead of tomorrow’s US Consumer Price Index (CPI) report. According to CoinGecko’s data, after surging past $72,000 earlier this week, Bitcoin retraced below $68,500 on Tuesday. BTC is trading at around $68,800 at press time, down 4% in the last 24 hours. The CPI report, due Wednesday, is expected to considerably impact the Federal Reserve’s policy, especially regarding interest rates. Last month’s CPI inflation was reported at 3.2%, with core CPI at 3.8%. Projections for the upcoming data estimate a CPI of 3.5%…
A recent market report by research firm Kaiko noted how Grayscale’s Spot Ethereum ETF could have a negative impact on Ethereum’s (ETH) price. This is based on the firm’s expectations that Grayscale’s Ethereum Trust (ETHE) could follow a similar path to Grayscale’s Bitcoin Trust (GBTC). Ethereum Could Face Significant Selling Pressure From Grayscale’s Outflows Kaiko noted that Ethereum could face significant selling pressure from Grayscale’s ETHE once the Spot Ethereum ETFs begin trading. This is because the fund has been trading at a discount between 6% and 26% over the past three months, with a wave of profit-taking likely to…
Bitcoin’s hashrate has once again dipped below the 600 exahash per second (EH/s) threshold, following a brief increase in computational power on May 26. Since then, the seven-day simple moving average (SMA) shows that the network has decreased by at least 74 EH/s over the past week. Bitcoin Network Hashrate Declines Sharply After Brief Uptick Just a week ago, Bitcoin’s hashrate, according to the seven-day SMA, reached a lifetime peak of 656 EH/s. Today, on June 3, the network’s computational power stands at 582 EH/s after dropping by 62 EH/s. To illustrate, if the average mining machine contributing computational power…
A significant step forward for the blockchain interoperability platform has been achieved by Entangle with the confirmation of Solana’s integration into its Photon messaging protocol. Despite the long history of difficulty in creating interoperability between different ecosystems, Entangle has broken new ground by enabling trustless cross-chain messaging between the Ethereum Virtual Machine (EVM) ecosystem and non-EVM Layer-1 networks such as Solana. In addition to successfully delivering Solana to EVM, the platform’s team announced that they have achieved the fastest instance of cross-chain messaging from EVM to Non-EVM. With the launch of the NGL-Solana bridge, Entangle has made it possible for…
Market fears over US fiscal health may boost Bitcoin, gold demand, suggests Van Eck. Jan van Eck, CEO of the global asset management firm and Bitcoin ETF issuer VanEck, believes investors will turn to Bitcoin and gold as stores of value in response to a potential fiscal crisis in the US in 2025. “I’ve got this theory that the markets are starting to price in a big fiscal problem in the United States in 2025,” said van Eck today. “They look at the two presidential candidates who are the biggest spenders in US history, and they’re going like, I’m not…
VibrantX Finance, a prominent portfolio manager and yield aggregator, has recently announced an exclusive collaboration. The platform has reportedly partnered with Avex Defy, a decentralized finance application that permits consumers to socialize and invest via NFTs and crypto assets. The platform took to its official account on the social media forum X to provide the details of this partnership. 📢 Partnership Announcement 📢VibrantX is thrilled to join hands with @defyapp_ – the new & fast-growing SocialFi app on @Aptos This dynamic partnership will foster mutual growth, and strengthen the connection between the communities of both projects ✨PS: Stay tuned for……
Ethereum community members favor term ‘programmable money’ as its new slogan before the approval of ETF S-1 applications. Santiment analyst expects Ethereum to continue outperforming Bitcoin following sustained whale accumulation. Ethereum bulls seem to be stepping on the brakes as they await more clarity on S-1 applications. Ethereum (ETH) followed a sideways trend on Tuesday as the crypto community seems to favor the term ‘programmable money’ as ETH’s one-liner. Meanwhile, whales have continued accumulating ETH despite profiting from the recent price spike. Daily digest market movers: Programmable money & whale accumulation Ethereum’s recent momentum is slowing down as ETF hype…