Author: NBTC
A prominent market veteran has identified a key Bitcoin (BTC) support level that is pivotal in the asset’s defense against a collapse to the $60,600 price territory. Bitcoin has leveraged a confluence of increased demand from the spot Bitcoin ETFs and bullish sentiments to print a massive market run. The crypto asset rallied 74% from a price of $39,541 on Jan. 23 to an all-time high of $69,098 on March 5. However, upon breaching the $69,000 territory, Bitcoin recorded a massive retracement that saw it collapse below $60,000. The asset has regained most of the losses from this sudden retracement,…
Nifty co-founder Nick O’Neill, aka NFT Nick, created the memetic catchphrase ‘choose rich’ to assert his wealth and attract attention from money-seeking social media users. Unfortunately for him, it looks to have backfired as, like many aspirationally rich influencers, NFT Nick’s wealth is mostly self-described. In a comical turn of events, Crypto Twitter discovered O’Neill’s countless exaggerations and lies about his wealth. In the process, users have co-opted the catchphrase and inverted its meaning entirely. For context, the phrase ‘choose rich’ is a reference to the film The Wolf of Wall Street, in which Leonardo DiCaprio — speaking as disgraced…
Ethereum founder Vitalik Buterin declared that the blockchain ecosystem is already prepared to confront potential quantum attacks through a “recovery fork.” In a recent blog post, Buterin shared insights on the possible availability of quantum computers in the near future, which poses potential risks as hackers would have access to the devices. While such a scenario poses the risk of users losing their funds through unauthorized access and exploits, Buterin asserted that Ethereum is immune to it. He stated, “I argue that actually, we are already well-positioned to make a pretty simple recovery fork to deal with such a situation.”…
Stellar network leads the finance revolution with tokenization, digitizing real-world assets for faster transactions. Major institutions like WisdomTree and Franklin Templeton adopt Stellar for cost-saving tokenization benefits. Stellar has emerged as a frontrunner in tokenizing real-world assets (RWAs). Stellar transforms traditional finance by putting tangible and intangible assets on the blockchain through its creative strategy and strategic alliances. Tokenization is a key driver of the transition of the financial landscape brought about by blockchain technology. It marks a major shift from conventional systems by making it easier for Real World Assets (RWAs) to migrate onto the blockchain. Stellar, one of…
The UK’s market regulator will now permit certain authorized exchanges in the UK to create special market segments where specific types of investment crypto products can be bought and sold. However, these market segments will only be accessible to professional investors, such as investment firms and banks that are licensed to operate in financial markets. The Financial Conduct Authority (FCA) has updated its position on cryptoasset-backed Exchange Traded Notes (cETNs) for professional investor, allowing Recognised Investment Exchanges (RIEs) to establish dedicated UK-listed market segments for these products. RIEs will be required to ensure that adequate controls are in place to…
In the ever-evolving landscape of blockchain technology, combating the exploitation of Maximal Extractable Value (MEV) has emerged as a critical concern. Da Hongfei, the Founder of Neo, stands at the forefront of addressing this pressing issue. With over a decade of experience since founding Neo in 2014, Da Hongfei brings unique insights into how blockchains can prevent malicious actors from profiting off MEV, while driving security for users.—Recent reports have shed light on the alarming magnitude of MEV, with malicious actors opportunistically siphoning over $5.5 million in profit from Ethereum alone in the past 30 days. Against this backdrop, Da…
Analysts highlight the significant concentration of call options for Bitcoin, set to expire at the end of March, with a strike price of $70,000. This information, provided by Bitfinex‘s Head of Derivatives Jag Kooner, suggests a growing optimism regarding Bitcoin’s (BTC) value. Derebit’s Top Volume By Instrument Chart | Source: Derebit Kooner notes that the put-call ratio, a key indicator of market sentiment, has consistently remained below 0.6 for the first time in six months, indicating a bullish outlook among traders. The global put-call ratio for Bitcoin options now stands at 0.6, according to The Block’s Data Dashboard. A ratio…
Several NFT collections created by industry giant Yuga Labs have sunk to all-time low ETH valuations—at the same time that other NFT projects, including those acquired by the company, have grown in value on the wings of booming crypto prices. Mutant Ape Yacht Club (MAYC), for example, a collection released by Yuga in August 2021, has fallen to an all-time-low floor price of 2.4 ETH, according to CoinGecko—meaning the cheapest NFT in the 20,000-piece PFP collection can be acquired for that price. It cost 3 ETH to mint a Mutant Ape when the collection first debuted. Similarly, Otherdeed NFTs—deeds for…
Cryptocurrency journalist Eleanor Terrett recently shared some thoughts on the approval of Ethereum spot ETFs by the Securities and Exchange Commission (SEC). Once-high optimism about the SEC approving Ethereum spot ETFs by May 23 is now waning, according to the journalist. In recent weeks, meetings between companies, asset custodians and the SEC have been largely one-sided. Companies and custodians are trying to mobilize SEC officials to start the process, but officials are not stepping in in any meaningful way as they did with Bitcoin spot ETF applications. The reason behind this lack of engagement is believed to be due to…
As interest in Shiba Inu continues to gain momentum, Localcoin has presented an opportunity for Australian users to purchase SHIB from over 160 ATMs in the country. Leading crypto ATM provider, Localcoin has announced that Australian residents can purchase Shiba Inu (SHIB) at over 160 Bitcoin ATMs. In addition, users can buy Tether (USDT) at any of the Localcoin ATMs in Australia. The company made the announcement in an X post yesterday, emphasizing that it now has wider coverage in Australia. Calling all Australian users. You can now buy Tether (USDT) and SHIB Inu (SHIB) in 160+ Localcoin Bitcoin ATMs!…