Author: NBTC

The release of dovish CPI inflation data on August 14 initially provided a bullish catalyst for Bitcoin (BTC), sparking optimism among investors. However, this positive sentiment was quickly overturned by a couple of factors, including U.S. authorities moving 10,000 BTC, valued at nearly $600 million, into a Coinbase Prime wallet, raising concerns about potential liquidation and its impact on market prices. As Bitcoin attempts to hold above the $60,000 mark, a crypto analyst has warned that its bearish plunge could have significant implications for the broader cryptocurrency market, especially altcoins. In an August 16 post on TradingView, analyst Alan Santana…

CoinZoom integrates traditional finance with crypto, offering services like a Visa debit card and FDIC insurance for U.S. users. Unizen’s hybrid exchange ecosystem addresses liquidity and KYC issues, making it a key player in CeDeFi. ChangeX combines crypto, DeFi, and banking with features like a non custodial wallet, and leveraged staking. In a maturing finance space, centralized decentralized finance is emerging as a model that aligns the best of both finance. These platforms offer security and user friendly interactions while offering the benefits of decentralized finance. While Binance was one of the first on CeDeFi, there are now many platforms…

Main Takeaways: Binance Labs has invested in MyShell, a decentralized AI ecosystem that allows everyone to build, own, and share AI Apps, through Binance Labs Incubation Season 6. By integrating dispersed talents and open-source models, and utilizing AI and blockchain’s inherent composability, MyShell is paving the way for the Crypto x AI future. Binance Labs, the venture capital and incubation arm of Binance, has invested in MyShell through Labs Incubation Season 6. MyShell is a decentralized AI ecosystem converging an AI model layer that allows everyone to build, share, and own AI Apps. MyShell was launched in April 2023 with…

Hut 8 Corp. (HUT), a leading North American Bitcoin miner, announced its financial results for the second quarter ending June 30, 2024. The company reported a net loss of $71.9 million despite a 72% year-over-year revenue increase to $35.2 million. Hut 8’s Q2 Financial Results In an August 13 press release, Hut 8 reported that its revenue for the quarter ending June 30, 2024, rose to $35.2 million, up from $20.5 million in the same period last year. This growth was fueled by the company’s continued expansion in its energy and Bitcoin mining operations. Hut 8 reported managing a total…

Ventory, a multichain NFT marketplace focused on gaming and NFT liquidity solutions, has entered into a strategic partnership with Value DEX. Value DEX is a leading decentralized exchange renowned for seamless trading on Solana and EVM chains. This collaboration aims to enhance the decentralized finance (DeFi) ecosystem by introducing innovative features. These features will benefit users of both platforms. Partnership Announcement | Ventory🤝Value DEX@valu_so – Your top decentralized exchange for seamless trading on Solana and EVM chains.@Ventory_gg – A multichain NFT marketplace exclusively for entertaining games & NFT liquidity solutions.Congratulations on the successful… pic.twitter.com/e4IhoL1n4W — Ventory 🦠 (@Ventory_gg) August 18,…

U.S. Treasury futures fell sharply to intraday lows after U.S. retail sales data beat expectations and initial jobless claims in the U.S. came in at 227,000, below the 235,000 expected. US Retail Sales (Monthly) (July); Disclosed: 1.0% Expectation: 0.4% Previous: 0.0% US Core Retail Sales (MoM) (July); Explained: 0.4% Expectation: 0.1% Previous: 0.4% US Unemployment Claims Explained: 227K Estimate: 236K Previous: 233K Overnight index swaps (OIS) linked to the Fed meeting suggest the Fed will cut interest rates by about 29 basis points at its September meeting, compared with 32 basis points at Wednesday’s close. During the day, the US…

Polkadot’s ecosystem remains robust despite recent market downturns that briefly pushed DOT’s value to a seven-month low. Polkadot ecosystem thriving Data from DotLake shows a 33% month-on-month increase in transactions within Polkadot’s ecosystem, rising to 16 million in June from 12 million in May. The growth was primarily driven by One Frequency, a Layer 1 blockchain enabling decentralized social apps, which saw a 3 million transaction increase to reach 5.4 million. Additionally, Mythos Chain, a gaming network associated with developer Mythical Games, processed about 800,000 transactions during the reporting period. Meanwhile, the number of unique addresses with non-zero balances on…

Recent data from Bitcoin Magazine Pro shows a significant trend among Bitcoin holders: nearly 75% of all circulating Bitcoin has remained dormant for over six months. This strong HODLing behavior reflects a steadfast belief in Bitcoin’s long-term value, despite market fluctuations. The “HODL Waves” chart, a tool that visualizes the age of Bitcoins based on when they last moved, illustrates how various groups of holders react to market conditions. The dominance of older coins (those held for 6 months or more) suggests that long-term investors are increasingly holding onto their Bitcoin, possibly anticipating future price increases. This trend of HODLing…

A widely followed crypto strategist says the governance token of a decentralized finance (DeFi) lending protocol is gearing up for rallies. Pseudonymous analyst The Crypto Dog tells his 809,500 followers on the social media platform X that he’s bullish on Aave (AAVE). The trader shares a chart that suggests AAVE has successfully retested the level at $107 as support. “Think that’s gonna moon.” Source: The Crypto Dog/X At time of writing, AAVE is trading for $111.62, down slightly in the past 24 hours but up over 46% since printing its August 5th low at around $75. Turning to another DeFi…

St. Louis Fed President Joseph Musallem said he believes the time for a rate cut is near. In his speech today, Musallem highlighted recent data that point to a positive shift in the inflation outlook and a balanced risk to the Fed’s dual mandate. “The latest data has strengthened my confidence that inflation is declining and that the Fed is not behind the curve,” Musallem said in a speech in Louisville. Musallem believes inflation is on track to meet the Fed’s 2% target and that the labor market is no longer a risk to inflation. Musallem noted that while services…