Author: NBTC

Binance claims to have thwarted potential losses of over $2.4 billion In the first seven months of 2024, safeguarding more than 1.2 million users from scams and fraudulent activities. In a statement the company released today (Tuesday), the exchange said it prevented the potential billions of dollars worth of losses from January to July 2024. The platform’s risk management reportedly detected and blocked fraudulent activities that could have affected more than 1.2 million users. The leading exchange by trading volumes highlighted its internal risk management platform that utilizes artificial intelligence (AI) and manual review to monitor transactions in real time.…

Bitcoin’s (BTC) price appears to be in a precarious situation as major stakeholders, often referred to as crypto whales, have reportedly paused their buying activities. This halt in purchases has sparked concerns about Bitcoin’s future valuation, particularly as technical patterns indicate a bearish trend. Historically, such trends have been associated with prolonged downswings or periods of consolidation. Crypto Whales Step Back as Bitcoin Turns Bearish Recent data from Lookonchain suggests that institutions have stepped back from Bitcoin purchases, coinciding with a 1.44% decline in Bitcoin’s value over the past 24 hours. Currently, Bitcoin is trading around $58,300, a drop from…

As Bitcoin continues to trade below $60,000, Coinshares has released its weekly cryptocurrency report. Coinshares, which stated that it experienced a small inflow of $30 million into cryptocurrency investment products last week, said that the popular altcoin Solana saw a record outflow. “While there was a small inflow of $30 million total into crypto investment products last week, recent macroeconomic data suggests the Fed is less likely to cut interest rates by 50 basis points in September.” Solana (SOL) Experienced a Record High! When looking at crypto funds individually, it was seen that the majority of fund inflows were in…

There were serious declines in Bitcoin and altcoins today. While BTC fell below $ 57,000, altcoins also experienced losses ranging from 5% to 10%. Memecoins also suffered great losses in this decline. First of all, there were great losses in PoliFi-themed memecoins. Chief among these were MAGA (TRUMP) with the theme of presidential candidate Donald Trump and Jeo Boden (BODEN) with the theme of Joe Biden. While TRUMP has experienced a 45% decrease in the last 7 days, BODEN has experienced a 76% decrease. With the great decline in the cryptocurrency market, there was a great decline in the memecoin…

The Bank of Israel has awarded Revolut a unique identification code, signaling the company’s formal entry into the country’s regulated payment system. The integration is part of the bank’s strategy to integrate global fintech firms into the local payment space. The Bank of Israel’s initiative to issue a unique identification code to Revolut aligns with its broader strategy to integrate global fintech companies into the local payment system, the institution mentioned today (Tuesday). The identification code, 78, allows fintech firms like Revolut to allocate payment account numbers and facilitates seamless identification within the system. Revolut’s successful acquisition of an identification…

Bitcoin’s price has declined over 6.85% to $57,000 zone due to market concerns. Mt. Gox transactions and a $300M U.S. BTC transfer heighten market sell-off fears. Bitcoin’s price fell nearly 6.85% to $57,733 on Thursday, driven by renewed concerns over potential token distributions from the defunct Mt. Gox exchange and increased capital outflows from major exchanges. This decline came despite positive signals from U.S. inflation and interest rate data, highlighting a growing risk-off sentiment in the market. Recent developments have heightened fears of additional selling pressure on Bitcoin. Mt. Gox, which began returning Bitcoin stolen during a 2014 hack to…

The most important event of this week for Bitcoin, cryptocurrencies and global markets will be the Jackson Hole meeting. The meeting, held every year in Jackson Hole, Wyoming, USA, is closely followed by the banking industry. The meeting, attended by representatives of central banks from developed and developing countries around the world, will be held between August 22-24 this year. The theme of this year’s Jackson Hole meeting will be ‘Reassessing the Effectiveness and Transmission of Monetary Policy.’ All Eyes Will Be on the FED Chairman’s Speech! Following the selling pressure and recession talk in money markets at the beginning…

Toncoin (TON) has experienced a remarkable 257% increase in large transaction volume, indicating significant whale activity. This surge comes at a time when the crypto market is facing a downturn, with $321 million in liquidations. The large transaction volume, often associated with cryptocurrency whales — investors holding substantial amounts of crypto — suggests that these major players might be actively selling or buying Toncoin despite the market’s overall negative trend. According to IntoTheBlock data, Toncoin’s large transaction volume has soared 257.65% in the last 24 hours to reach $7.58 million, or 962,270 TON in crypto terms. The crypto market has…

Alchemy Pay, a crypto payment solution provider, has teamed up with Polkadot. With his new collaboration, users can effortlessly convert DOT to and from over 50 fiat currencies across 173 countries using their preferred local payment methods. Super excited to announce our partnership with @Polkadot! 🎉DOT, the native token of the #Polkadot network, is now available for smooth buying and selling on #AlchemyPay’s On and Off-ramp. Plus, we’re supporting USDC and USDT on Polkadot through our on-ramp service.… pic.twitter.com/7ooUEEUks0 — Alchemy Pay|$ACH: Fiat-Crypto Payment Gateway (@AlchemyPay) August 20, 2024 Alchemy Pay is a payment protocol that provides services for bridging…

Michael Saylor, MicroStrategy’s founder and Chairman, has once again reaffirmed the role of Bitcoin (BTC) role as a reserve asset. Saylor’s recent statement comes after a bold Bitcoin move by Marathon Digital Holdings, a renowned crypto-mining firm. Saylor’s Bullish Bitcoin Statement “Bitcoin is the world’s best strategic treasury reserve asset,” says Saylor, highlighting a recent post from Marathon. The mining firm announced the completion of a $300 million convertible senior notes offering due in 2031. #Bitcoin is the world’s best strategic treasury reserve asset. https://t.co/gvBIVktU8t — Michael Saylor⚡️ (@saylor) August 15, 2024 Subsequently, Marathon sold the notes in a private…