Author: NBTC
Dogecoin (DOGE), once celebrated for its unexpected rise from a meme to a major digital asset, has fallen out of the top 10 cryptocurrencies by market capitalization. This development comes as Chainlink (LINK) ascends into the top 10, reflecting a dynamic and ever-changing landscape within the digital currency space. The latest rankings show Bitcoin (BTC) and Ethereum (ETH) continuing to lead the pack, with Chainlink (LINK) securing its position at the tenth spot, leaving Dogecoin to adjust to its new standing just outside this elite group. Chainlink breaks into the top 10 The reordering of positions within the top 10…
Bitcoin’s move above $50,000 on Monday brought windfall gains to holders of the Yes side of Polymarket’s now-expired “Will BTC hit $50,000 in February?” contract. Pseudonymous trader u/MeLLoN98 made 550% and is now betting on the bitcoin price reaching a record high by the end of the first quarter. Gone are the days when making big money in the crypto market required taking directional bets in the spot or futures markets or setting up complex decentralized finance strategies. Some traders are now generating market-beating returns through the decentralized prediction platform Polymarket. A recent example: The pseudonymous u/MeLLoN98, a core contributor…
One of the most controversial expectations in the cryptocurrency market is known as “the flippening.” The flippening is the forecast of Ethereum (ETH) surpassing Bitcoin (BTC) in market capitalization, which is both praised and criticized. Interestingly, QCP Capital foresees Ethereum outperforming Bitcoin in price appreciation in 2024, according to a January 17 market update. The trading firm specializing in digital assets and cryptocurrencies shared the report on a Telegram group with 11,000 subscribers. Despite not mentioning a ‘flippening,’ QCP Capital mentioned the positive results of a previous report on ETH paired against BTC. Moreover, the trading firm forecasts Ethereum to…
India has surpassed Hong Kong in stock market value, based on data compiled by Bloomberg. The report suggests that its growth potential and policy reforms have increasingly attracted investors. The total value of shares on Indian exchanges hit $4.33 trillion at Monday’s close, edging out Hong Kong’s $4.29 trillion. November-end data by the World Federation of Exchanges placed India in seventh place when it briefly surpassed Hong Kong. India becomes a $4.33T share market As per Bloomberg, the market capitalization of India’s stock market first exceeded $4 trillion on December 5, with approximately half of this growth occurring in the…
Grok, an AI chatbot developed by tech entrepreneur Elon Musk, highlights three reasons why the Shiba Inu community is the best in crypto. The dedication of Shibarium community members cannot be overemphasized as they continue to play pivotal roles in driving the widespread adoption of Shiba Inu-related projects. Based on members’ dedication, many consider the Shiba Inu community to be the most vibrant and supportive within the crypto space. 3 Reasons Why Shiba Inu Community Is the Best Grok, an AI chatbot developed by American businessman Elon Musk, highlighted three reasons why the Shibarium community is considered to be the…
Bitcoin exceeded $50,000 as it continued its strong rise that started last week. While this rise in BTC caused investors’ risk appetite to increase, Deribit data revealed that investors expected a new ATH in Bitcoin. According to Deribit data, there have been serious purchases in options priced at $65,000, $70,000 and $75,000 in recent days. It was stated that call options at this level indicate that investors have bullish expectations, while bulk call options at high levels reflect the upward trend among experienced investors. Speaking to Coindesk at this point, Galaxy America Sales Manager Kelly Greer stated that they see…
Ethereum, the second-largest cryptocurrency by market capitalization, has exhibited a notable bullish trend since the second week of January. This period coincided with the much-anticipated approval of the Spot Bitcoin ETF, a development that significantly contributed to Ethereum’s price surge from $2,170 to $2,714. In contrast, Bitcoin displayed continued volatility during this period. As previously reported by Coingape, there was a substantial increase in whale accumulation for Ethereum in December 2023. This trend suggests that ‘smart money’ investors showed a greater inclination towards Ethereum over Bitcoin, despite a historical milestone. Will Bitcoin continue to rise as Ethereum ETF could be…
Financial technology company Figure Technologies is seeking approval from US regulators to introduce an interest-bearing stablecoin. Founded by former SoFi Technologies CEO Mike Cagney, if successful, Figure will become the first company to offer a stablecoin regulated as a security within the United States, Bloomberg reported Monday. In October, Figure filed a draft registration statement with the Securities and Exchange Commission (SEC) under the subsidiary name Figure Certificate Co. The registration filing reveals that Figure plans to register the stablecoin as “face-amount certificates,” a type of fixed-income security, and intends to issue it using blockchain technology. Upon approval, the stablecoin…
XRP could expand its presence to Flare Networks and other decentralized ecosystems as FXRP, a wrapped version of the token, with the help of Flare’s bridging protocol LayerCake. Hugo Philion, the co-founder of Flare Networks and CEO of Flare Labs, disclosed this in a recent statement on X. The move will become possible through Flare Networks’ upcoming FAssets project, which would imbue smart contracts to assets that do not have them on their respective blockchains. XRP Coming to Flare and Other Ecosystems This project would target assets such as Bitcoin (BTC), XRP, and Dogecoin (DOGE). The protocol works by minting…
Peter Brandt recently took to social media to share his insights into a Bitcoin price pattern that may signal impending movements of significance. Brandt’s tweet posed a cryptic question, referencing a “coffin corner” and “springboard pattern,” which are terms not commonly used in the technical analysis lexicon. Upon closer inspection, Brandt’s chart appears to show Bitcoin trading within a converging pattern, typically known as a symmetrical triangle in technical analysis. This pattern is often characterized by lower highs and higher lows as the price action narrows, indicating a balance between buyers and sellers. The convergence of these trend lines is…