Author: NBTC
As Bitcoin surges towards its all-time high (ATH) of nearly $70,000, analysts are closely watching Ethereum, the world’s second-largest cryptocurrency, wondering how quickly it will follow suit and break its record ATHs of approximately $5,000 printed in late 2021. How Will Ethereum React When Bitcoin Breaks Above $70,000? One analyst, posting on platform X, highlights the difference in the two coins’ positions compared to the last time Bitcoin broke above 2017 highs of $20,000 in December 2020. Then, Ethereum was trading at $600, a full 57% below its previous ATH of about $1,400. As Bitcoin nears its record peak of around $70,000…
Ethereum (ETH) surged 90% in 2023, from January 1 to December 31, closing the year at $2,281 per token. At the time of publication, ETH is changing hands by $2,233 while whale investors increase their positions. In particular, SpotOnChain spotted a huge purchase of $48 million in 30 minutes by ‘Whale 0x931’ on January 5, 2024. The mysterious whale used USDT and USDC stablecoins to acquire 21,192 ETH for a $2,265 average price. Remarkably, this address belongs to a gigantic whale worth around $142 million, with a balance of 79,500 ETH. Moreover, the ‘Whale 0x931’ has been building its position…
Ripple’s moves to repossess sold shares have put the company’s valuation over $11 billion, with its bag of cryptocurrencies estimated at over $25 billion. Ripple Valuation at $11.3B In a recent development, anonymous sources have confirmed that Ripple has taken steps to reclaim sold shares. In particular, the prominent payment firm will acquire $285 million worth of shares from early investors and employees. The investment, or “a tender offer,” established Ripple’s valuation at $11.3 billion. It is crucial to highlight that investors are constrained to sell up to a maximum of 6% of their stake. This ensures a controlled and…
XRP Ledger (XRPL) amendment known as Clawback is now live on the protocol’s mainnet after it was enabled on February 8, 2024. Clawback V1.12.0 Now Live According to data from XRPScan, version 1.12.0 of the Clawback amendment went live earlier today after it received about 94.3% votes in its favor. Precisely, the proposal which was supposed to have a voting threshold of at least 28 ‘Yes’ before it could be considered, ended up registering 33 favorable votes. Only two validators voted against the XRPL Clawback amendment. The percentage of votes in favor of the proposal suggests that the respondents are…
For over a month, the second largest cryptocurrency Ethereum(ETH) has been trading sideways resonating between two horizontal levels of $2140 and $2400. Despite a heavy sell-off on January 4th, the ETH price showcased its sustainability above the $2140 support which is above the safety net of 38.2% Fibonacci retracement level. The combined support could offer buyers an opportunity to revive the exhausted bullish momentum and extend the recovery trend. Will Market Correction Push Ethereum Price Below $2000 A bullish breakout from $2400 will release the buildup of bullish momentum A confluence of several technical levels creates strong support at $2140…
The Hong Kong Virtual Asset Rating Agency (HKVAC) has announced the results of index adjustments. The index adjustments will take effect on Jan. 19. The HKVAC global large cryptocurrency index has added Internet Computer (ICP), Near (NEAR), Optimism (OP), Injective (INJ), and Immutable (IMX) while removing TrueUSD (TUSD), Binance USD (BUSD), Hedera (HBAR), Filecoin (FIL), and MakerDAO (MKR). The HKVAC global large cryptocurrency top 5 index and weighted index will add Solana (SOL), replacing Ripple (XRP). The HKVAC Global Large Cryptocurrency Top 10 Index and Weighted Index will add Avalanche (AVAX), returning Tron (TRX). Last time, in October 2023, HKVAC…
In a surprising move, Binance Research, the research arm of cryptocurrency exchange Binance, has published information about the trending ERC404 token standard. The experimental and unofficial token standard has become a trending topic in the crypto space. According to Binance’s research report, ERC404 aims to combine the features of fungible tokens and Non-Fungible Tokens (NFTs). It allows projects to offer ERC20 fungible tokens and NFTs tied to them. Purchasing one full ERC20 token results in an NFT being minted in the buyer’s wallet. However, if a user owns less than one full ERC20 token, they cannot qualify for NFT. The…
In a series of statements made on X (formerly Twitter), Marc van der Chijs, the CEO of the publicly traded Bitcoin mining firm Hut 8, shared an optimistic outlook on the future of Bitcoin, suggesting that the cryptocurrency may be on the brink of a ‘supercycle.’ “I think I have never been more bullish about Bitcoin than I am right now,” he remarked, pointing to the cryptocurrency’s recent performance and the absence of widespread hype as a prelude to what he terms a ‘supercycle.’ Understanding the concept of a ‘supercycle’ is crucial to grasping van der Chijs’ perspective. Unlike regular…
Bitcoin remains at the forefront of investor interest, recently witnessing a remarkable phase of accumulation by so-called crypto whales. These significant players in the cryptocurrency market have made bold moves, signaling a potentially transformative period for Bitcoin’s future valuation. Crypto Whales Buy Billions in Bitcoin Bitcoin whales have accumulated an additional 140,000 BTC in the past three weeks, injecting $6.16 billion into the flagship cryptocurrency. This surge in buying activity has prompted a mix of anticipation and skepticism among investors. The buying spree by these large-scale whales signifies a strong vote of confidence in Bitcoin’s future trajectory. Historically, such significant…
Demand for NFTs has been growing in recent weeks amid rising cryptocurrency prices, and Monday’s $16 million sale of a CryptoPunk—the fifth-most expensive NFT sale to date—put an exclamation point on that trend. But the top overall NFT marketplace over the last few days isn’t the same one that ruled the pile as recently as mid-February, as the tides of the marketplace wars have shifted yet again. And the latest startup to take the throne can credit Bitcoin Ordinals for much of that shake-up. Magic Eden is now the top marketplace by trading volume, according to blockchain data curated by…