Author: NBTC
Bitcoin’s fourth halving has come and gone, and its effect can already be seen with an over 3% price bump since the event — a sign of upcoming growth compared to past halvings. Historically, halvings have shown a mix of short-term reactions but tend to lean toward a bullish trend over the long run. Yet, it is crucial to note that there are not many past events from which to form a solid case. Beyond market fluctuations, the weekend following the halving saw a significant spike, not in price, but in transaction fees. Bitcoin’s network fees skyrocketed to a record…
The recent series of transfers by the Ethereum Foundation to the multisign address “0xbc9” has caught the attention of market observers, sparking concerns about potential volatility in Ethereum’s price. In the latest transaction reported by Spot On Chain, the foundation moved 1,000 ETH, valued at $3 million, to the aforementioned address. This action is part of a larger trend, as the foundation has already transferred a total of 5,000 ETH to the same address since the beginning of 2024. What is notable about these transfers is their potential impact on the market. Analysis reveals that a considerable portion of the…
While the USD-denominated value of Solana’s (SOL) staking ecosystem hits $70 billion, cryptocurrency enthusiasts are guessing whether its economics are safer than those of its key rival Ethereum (ETH). Solana (SOL) might finally be close to Ethereum (ETH) by this metric With the aggregated staking value of $70 billion in equivalent, Solana’s (SOL) economic security is getting close to that of Ethereum (ETH). At the same time, this indicator remains one of the main catalysts for L2 choosing Ethereum (ETH), Jun Soo Kim of Apybara staking platform says. The nuance missed here is that $70B is staked because a large…
As Bitcoin grapples with the $67,000 threshold, a price point that has become a battleground for bulls and bears alike, Michael Saylor, MicroStrategy Chairman, interjects a moment of levity into the tense market atmosphere with a tweet, simply stating, “Need a lift?” This remark, while seemingly casual, carries the weight of the current market sentiment and anticipation for its next big move. Need a Lift? #Bitcoin pic.twitter.com/AaDg16zDNM — Michael Saylor⚡️ (@saylor) April 23, 2024 The $67,000 mark is not just another number — it represents a key level that Bitcoin is presently attempting to surpass. A sustained break above this…
Amid turbulence surrounding the crypto market, popular founder and Chief Executive Officer (CEO) of Into The Cryptoverse Benjamin Cowen has taken the spotlight to shed his insights on the recent downtrend observed in the Ethereum/Bitcoin (ETH/BTC) pair. Cowen’s views examine the complex relationship between Ethereum and Bitcoin pricing and the potential for further downside risk. According to Benjamin Cowen, the ETH/BTC pair is currently on the downside, and the last 2 times that the pair declined, ETHUSD witnessed a steep decline of around 70%. Given that the crypto community has been eagerly anticipating an Altcoin season for the past 2.5…
Shiba Inu prices soared about 300% at the start of March, reaching a peak of $0.000045 on March 5. SHIB’s price plummeted afterward as a result of profit-taking. After reaching a low of $0.0000235 on March 16, SHIB entered range trading, oscillating between $0.000023 and $0.000030. On-chain data lends credence to this technical narrative. Where SHIB presently trades, 100.93 trillion SHIB were bought by 140,030 addresses in the range between $0.000023 and $0.000030 at an average price of $0.000026. The large size of the cluster indicates that this is a key price range on-chain where a large number of addresses…
John Rose, US Representative serving Tennessee’s Sixth Congressional District, is strongly critical of the US Securities and Exchange Commission’s (SEC) action against Robinhood. The Congressman called the SEC and its Chair, Gary Gensler “rogue regulators” in a recent post on X. According to him, the federal agency went beyond its intended role of protecting investors and maintaining fair markets. He believes that instead of stifling innovation, the SEC should prioritize investor protection. “The [SEC] exceeded its mandate to protect investors and maintain fair, orderly markets by issuing a Wells Notice to [Robinhood App], a precursor to enforcement action,” the Congressman…
Quick Take Data from Coinwarz shows the Bitcoin network is gearing up for another difficulty adjustment, scheduled for April 24 at approximately 1:57 PM UTC. The adjustment is expected to be over 2.2%, pushing the difficulty to a new all-time high of 88.30T. Ahead of the halving on April 20, there was a notable surge in hash rate, peaking at an unprecedented 650 eh/s. Subsequently, post-halving, there has been a modest decline of approximately 4% to 625 eh/s. However, the resilience of the hash rate post-halving has surpassed initial expectations. The increased hash rate can be attributed to miners plugging…
If you’re reading this ensconced in a traditional finance career, you know the deal: If money is idle, make it do more work. Are you, for instance, a broker with collateral quietly sitting in a vault? That’s boring! Do that rehypothecation thing! Use it to finance your own trades! (The Lehman Brothers–fomented global financial crisis of 2008 helps illustrate what can go wrong.) The cryptocurrency biz has invented its own version of rehypothecation, called something else, of course: restaking. It caught fire on Ethereum (ETH) with the help of EigenLayer (which is inching toward an airdrop of its EIGEN token).…
The euphoria around meme cryptocurrencies on the Solana (SOL) blockchain seems to be losing its momentum. In the last seven days, almost all of them witnessed double-digit losses. Solana (SOL) meme coins: 19 of 20 largest cryptos close week in red The last seven days brought significant losses to the segment of Solana (SOL) meme cryptocurrencies. Shiba Inu (SHIB) competitors on Solana (SOL) lost 25% on average, with Peng (PENG) and Book of Meme (BOME) being the worst sufferers. It should also be noted that Dogwifhat (WIF), a flagship cryptocurrency of the segment, demonstrated strong performance amid the collapse. It…