Author: NBTC
In a recent post on the X social media network, cryptocurrency critic Peter Schiff has questioned bullish Bitcoin (BTC) price predictions. The gold bug is not sure whether or not the cryptocurrency can surge to the $100,000 level given that major cryptocurrency-related stocks are now in a bear market. Even though the definition of a bear market is somehow murky, analysts typically agree that it occurs when a certain stock experiences a 20% decline. As noted by Schiff, the Coinbase (COIN) stock is down more than 21% from its recent high. Other major cryptocurrency-related stocks, such as Microstrategy (MSTR) and…
Over the past week, non-fungible token (NFT) sales declined by 8.99%, amounting to approximately $137 million. Ethereum topped the charts with $43 million in sales, marking a 20.26% increase from the previous week. NFT Market Shrinks by 8.99%, Ethereum and Bitcoin Lead in Sales NFT sales experienced a decline this week, falling by 8.99% compared to the previous week. Across all 21 blockchains, total sales reached $137.44 million, with Ethereum leading the way with $43 million. Bitcoin followed with $34.79 million in NFT sales, a decrease of 26.67% from the prior week. Other notable blockchains included Solana, Polygon, and Immutable…
There is a 20% chance of ether rallying as high as $5,000 by the end of June, according to dominant DeFi options protocol Lyra. Traders have snapped up ether calls at the $5,000 strike and higher this week. The price of ether (ETH) has a 20% chance of rallying to $5,000 by the end of next month, data from the decentralized options marketplace Lyra indicates. The price peaked at $4,692 during the previous bull market, according to CoinDesk data. To hit the new record, ether would need to rise by about a third from the current level around $3,740. That…
Safe has earlier today announced a strategic alliance with Chainlink Labs. This partnership is set to enhance the adoption of account abstraction and fortify the security within onchain ecosystems. Safe, a leader in smart account infrastructure, joins forces with Chainlink Labs, known for its comprehensive decentralized computing platform that has become a cornerstone in the development of reliable blockchain applications. The collaboration between these two tech giants is aimed at integrating Safe’s cutting-edge account solutions with Chainlink’s robust service offerings. By doing so, they plan to provide a more seamless and secure framework for developers and businesses venturing into digital…
The U.S. House of Representatives is on the verge of a vote on Wednesday that is widely expected to approve comprehensive cryptocurrency legislation with bipartisan support – a major milestone for the industry – and several Democrats there are pushing their colleagues to vote yes. At least eight House Democrats were vocally supporting the Financial Innovation and Technology for the 21st Century Act (FIT21) – and they may recruit more – according to a memo shared with CoinDesk by a congressional aide. At this point, the bill is scheduled for floor discussion and a vote later in the day on…
Ethereum cofounder Vitalik Buterin has made a significant move in the crypto space today, transferring 80 ETH (approximately $300,000) to coin mixer Railgun. This transfer marks the latest in a series of monthly transfers Buterin has made to Railgun over the past six months. Railgun, known for its privacy-focused coin mixing services, has gained attention within the crypto community for its ability to prevent malicious behavior and protect user anonymity. Buterin has been a vocal advocate of Railgun’s privacy pools protocol, which he believes significantly enhances user privacy by making it difficult for bad actors to compromise the anonymity of…
Chiliz (CHZ), a blockchain provider working in sports and entertainment, announced the activation of the “Dragon8” hard fork on the Chiliz Chain. According to the official announcement, this update brings a new tokenomic model and technological improvements. The hard fork in question will be launched on the mainnet on May 21, 2024. The hard fork envisages the full implementation of the previously announced Chiliz Chain Tokenomics 2.0. This new model has a structured annual inflation rate that starts at 8.80% and gradually decreases to stabilize at 1.88% after 14 years. In addition to the new tokenomics model, the hard fork…
The CEO of the crypto investment firm Galaxy Digital says Democrats are changing their tune on crypto as the 2024 US Presidential election approaches. In a new interview with CNBC’s Squawk Box, Mike Novogratz says the Biden administration is listening to the markets and shifting its standpoint on crypto. “But assuming, you know, the market is right, and the market is usually pretty smart, it feels like someone at the Biden White House made a call and said, guys, we can’t be the party against crypto anymore. I think that’s a seismic shift. If those things actually happen, prices are…
Bitcoin (BTC) has declined by 4.3% over the past 24 hours, resulting in a widespread collapse across the broader crypto market, as investors exit the market at breakeven on the back of the recent recovery push. The cryptocurrency market is witnessing a sharp decline following the latest rebound that saw multiple assets record double-digit gains. Bitcoin reclaimed the $66,000 price territory on April 15, with the global crypto market cap surging to $2.384 trillion. BTC price – April 16 | Source: Trading View However, following the $66,867 high yesterday, BTC witnessed a subsequent collapse, dropping to the higher spectrum of…
Finally, Ethereum is reaching at least some kind of an ATH. Unfortunately, we have a problem here: it is not the price ATH. But one way or another, it is something, considering the dull performance the second-biggest cryptocurrency has been showing. But do not fret, the price might catch up in the future. What even is open interest? It is the total amount of open contracts for the asset, like futures or options. The surge of OI usually suggests the overall growth of interest in the asset on the market. But do not rush to buy it yet since it…