Author: NBTC
Ethereum price extended its increase toward $3,950. ETH is now consolidating gains and might aim for a move above the $4,000 resistance. Ethereum traded to a new multi-month high above $3,940. The price is trading above $3,850 and the 100-hourly Simple Moving Average. There was a break above a short-term bullish flag pattern with resistance at $3,830 on the hourly chart of ETH/USD (data feed via Kraken). The pair could resume its increase if it clears the $3,940 resistance zone. Ethereum Price Remains In Strong Uptrend Ethereum price extended its rally above the $3,850 level, unlike Bitcoin. BTC failed to…
BlackRock’s iShares Bitcoin Trust (IBIT) surpassed MicroStrategy’s Bitcoin (BTC) holdings with a net inflow $2.07 billion in the week. Moreover, the milestone comes amidst a robust total weekly net inflow of Spot Bitcoin ETFs, which stands at $2.23 billion. BlackRock Eclipses MicroStrategy BTC Holdings As the week drew to a close on Friday, March 8, Spot Bitcoin ETFs recorded a net inflow of $223 million, which indicated a substantial decrease from Thursday’s figure. The inflows were led by BlackRock’s IBIT with a substantial inflow of $336.3 million, equivalent to over 4,900 BTC. Hence, this influx propelled BlackRock’s total Bitcoin holdings…
Ethena Labs’ stablecoin has pocketed $4 million for its treasury with high yields derived from ether-future funding rates and staking ether to a validator. The project has seen early success with a controversial concept, increasing its treasury to over $16 million and becoming the third-largest revenue generator in the crypto market. Stablecoin project Ethena Labs has bagged over $4 million for its treasury less than two weeks after going live, showcasing early signs of success with a concept that has divided market participants. The firm’s USDe, a synthetic dollar that aims to be pegged to $1 by shorting ether (ETH)…
The cryptocurrency market works in cycles, usually dominated by one or two leading narratives to gain protagonism. As a new bull market begins, investors look to identify the next crypto narrative, while Binance hints at payments. Notably, a new category surged on the Binance Markets‘ page, listed as the second category right after “Meme.” Meme coins, together with Layer 1 Web3 and DeFi blockchains, were part of the dominating narratives in 2021’s cycle. The recently added category is “Payments,” bringing a flame icon next to it, suggesting a hot trend in Binance’s eyes. Interestingly, the centralized exchange positioned the Payments…
In the payments industry, the integration of cutting-edge technologies is crucial for ensuring security, privacy, and efficiency. Zero-Knowledge Proofs, or ZKPs, are a powerful tool which is quickly becoming popular as it allows parties to verify the authenticity of a statement without revealing any sensitive information. In fact, the maturation of ZKP technology is expected to lead to broader adoption across various financial services and address several challenges related to Know Your Customer (KYC) and Anti-Money Laundering (AML) compliance. Traditional KYC and AML methods often involve sharing personal data, making them susceptible to security threats, whereas ZKPs use mathematical proofs…
The incoming Dencun fork heralds a new era for Ethereum, which could significantly lower transaction fees by as much as 100 times. This pivotal upgrade, backed by the unwavering support of Coinbase’s Base layer 2 network from day one, aims to tackle one of the most pressing challenges in the blockchain space: high transaction fees. Addressing Ethereum Transaction Fees The Dencun upgrade, scheduled for March 13, is set to revolutionize the blockchain industry by enhancing efficiency and scalability, with EIP-4844 or proto-danksharding at its core. Base, in collaboration with Optimism, the Ethereum Foundation, and other key Ethereum core development teams,…
Despite pulling back to around $68,500, analysts are optimistic about a continuation of the Bitcoin bull cycle after it hit a new all-time high (ATH) of $70,083.05 on March 9, fueled by increasing institutional interest and growing adoption. However, amidst this upward trajectory, a significant development is emerging in the cryptocurrency market – the decreasing amount of BTC on cryptocurrency exchanges. BTC leaving exchanges in record numbers Reports from Bitcoin Magazine and HIVE Digital Technologies indicate a substantial movement of Bitcoin off trading platforms, pointing towards a shift in investor behaviour. JUST IN: #Bitcoin is being taken off exchanges in…
SushiSwap has faced accusations of governance manipulation and financial opacity, with tensions rising over the deletion of its governance forum. Decentralized crypto exchange SushiSwap has found itself in hot water as the community accuses its core team of deleting parts of its governance forum and disregarding snapshot votes amidst backlash over its financial management. In an X post in late February, former ex-contributor to SushiSwap, Naim Boubziz, ignited the controversy by highlighting the project’s core team’s deletion of its governance forum amid criticism of its use of treasury funds. #Sushiswap : The $sushi core-team have just completely deleted the https://t.co/JAgiNpHAOS,…
Following its recent rally to a 52-week high of $3,958, Ethereum (ETH) addresses in profit have topped 94.3% with limited resistance to retest its previous ATH of $4,891.70. Data from crypto analytics platform IntoTheBlock (ITB) puts the Ethereum addresses in profit at a total count of 104.71 million. This is the highest Ethereum has recorded in more than a year with the crypto asset notably trailing the bullish path that was set by Bitcoin following the approval of its spot Exchange-Traded Fund (ETF) products. Ethereum On-Chain Data Count The IntoTheBlock data shows that overall, all addresses on Ethereum are either…
Bitcoin’s (BTC) price went on a major rampage this week as it breached all-time highs (ATH) on two different occasions. While the latest ATH of $70,083.05 marks a monumental milestone, it underscores how Bitcoin is displaying an “overheating” signal, according to insights from crypto analytics platform CryptoQuant. With the palpable excitement from investors to bet on the coin at the moment, CryptoQuant is warning that a major correction might be ahead for the top coin. The analytics platform laid out some factors that show a correction might truly be underway for the coin. It highlighted how “the Bull-Bear Market Cycle…