Author: NBTC

Bitcoin has observed a pullback down to the $58,000 level during the past day. Here’s what could be the cause behind it, according to on-chain data. Exchanges Have Seen A Large Amount Of Tether Withdrawals Recently According to data from the market intelligence platform IntoTheBlock, centralized exchanges have recently seen a Tether (USDT) outflow spree exceeding $1 billion. Investors usually keep their coins in exchanges when they want to trade them in the near future, so them making the move to withdraw their tokens potentially implies that they are interested in holding into the long-term. For volatile assets like Bitcoin,…

Ethereum co-founder Vitalik Buterin transfers 400 ETH (approx. worth $1.05 million) to the privacy-focused crypto mixer Railgun. The motive behind this move remains unclear, but it’s stirring interest as Ether has managed to gain by around 4% over the last 7 days outperforming Bitcoin (BTC). Ether gets back on track after printing red indexes in the past few months. The second biggest crypto has recorded a decline of 23% and 28% in the last 30 days and 90 days, respectively. Vitalik makes a suspicious railgun move As per the data shared by Arkham, Vitalik Buterin moved 400 Ether to the…

Rob Cunningham, a researcher and host of the Kuwl Show, boldly asserts that the inherent utility of XRP is immune to any enormous external financial attempts to undermine it. XRP Utility Immune to External Forces In a recent post on X, Cunningham voiced the audacious sentiment that expending as much as $1 trillion cannot negate or invalidate the value proposition of XRP. According to him, XRP’s unique value propositions are akin to fundamental principles like truth, law, and mathematics that cannot change by even the largest financial sums. Cunningham explained that XRP significantly reduces global payment friction, fraud, fees, and…

The Australian Securities and Investments Commission has canceled Libertas Financial Planning Pty Ltd’s license. According to the regulator’s announcement today (Monday), the firm’s cancellation of its Australian financial services license marks the first time the regulator has taken action under the newly operational Compensation Scheme of Last Resort (CSLR) in a compensation payout to a client. The CSLR, which commenced operations in April 2024, was created to protect consumers who have suffered financial losses due to the misconduct of licensed firms but have been unable to recover compensation. The scheme can reportedly pay up to $150,000 to eligible consumers who…

Manta has teamed up with Cycle Network to strengthen the liquidity management and asset bridging on the Manta Pacific. By integrating with Manta Pacific, users can trade assets using bridgeless liquidity abstraction. 🌊 We’re excited to welcome @cyclenetwork_GO to the #MantaNetwork ecosystem!With this integration, users can trade assets on #MantaPacific via bridgeless liquidity abstraction for enhanced interoperability and streamlined liquidity management. https://t.co/nnfDsFe04U — Manta Network (🔱,🔱) Meme-ta Szn (@MantaNetwork) August 19, 2024 Manta Network is the multi-modular ecosystem for zero-knowledge (ZK) applications. Manta Pacific is the unique L2 ecosystem on Ethereum for EVM-native ZK applications. It offers ZK applications deploying…

Bitcoin briefly fell below $56,000 on Aug. 15 before marking a slight recovery above $57,000 amid heavy volatility in anticipation of the expiry of a large volume of options contracts. The looming expiry could trigger significant volatility, with traders closely watching whether the crucial support level will hold. In the past 12 hours, Bitcoin has fluctuated around $56,000, a level that has been tested repeatedly but has managed to hold so far. This support has become a focal point for traders, as more than $1.4 billion in Bitcoin options are set to expire at 8:00 A.M. UTC. The outcome of…

Ethereum price started a pullback from the $2,680 resistance. ETH is now declining and remains at risk of more downsides if it fails to stay above $2,550. Ethereum started a fresh decline below the $2,650 level. The price is trading below $2,680 and the 100-hourly Simple Moving Average. There is a key bullish trend line forming with support at $2,610 on the hourly chart of ETH/USD (data feed via Kraken). The pair could extend losses if it drops below the $2,550 support zone. Ethereum Price Shows Signs of Weakness Ethereum price attempted to gain pace for a move above the…

Third-party wallet provider Atomic Wallet has announced it will support assets on the Neo X EVM sidechain when the MainNet launches. Neo X by @Neo_Blockchain will soon be available to 5 million @AtomicWallet users! Neo X side chain is MEV-resistant, fully compatible with Ethereum Tooling, and aims to excel in cross-chain scalability and DeFi applications. pic.twitter.com/BCRAhLo6n4 — Atomic – Crypto Wallet (@AtomicWallet) July 1, 2024 Founded in 2018, Atomic Wallet has more than 5 million users globally, with around 500,000 active monthly users. Atomic Wallet is a non-custodial wallet provider that doesn’t store user passwords, data, or seed phrases on…

David Hirsch, who recently led the Securities and Exchange Commission’s Crypto Assets and Cyber Unit (CACU), has joined law firm McGuireWoods as a partner in Washington, D.C. Hirsch will be part of the firm’s securities enforcement and regulatory counseling practice. As CACU chief in the SEC’s Division of Enforcement, Hirsch oversaw first-of-their-kind investigations, resolutions, and litigation related to crypto assets. He was responsible for recommending and implementing the SEC’s cybersecurity enforcement priorities and played a key role in establishing the agency’s approach to enforcing registration obligations for various crypto asset activities. Prior to becoming CACU chief in 2022, Hirsch served…

As bridges continue to experience massive hacks, could there be a better solution to the interoperability challenges across the blockchain industry? Over $85 million worth of cryptocurrencies were compromised via hacks on bridging services in the first half of 2024, according to Hacken’s Web 3 Q1 and Q2 reports. While this is a sharp fall from the full-year losses across bridging services in 2023 – $337.72 million – the security concerns around bridges are persistent. Could there be better solutions to blockchain interoperability and improved cross-chain technologies than bridges? And if so, how do these technologies aim to solve the…