Author: NBTC
The Flare Network team has continued to decrease the circulating supply of its native token FLR, recently sending a whopping 66 million FLR tokens to the burn address. Implementing a deflationary model remains one of the primary ways Web3.0 projects attract immense value to their native currencies. With many projects recording successes with this move, Flare Networks is also determined to join the train. The Flare Burn – Price Impact As detailed by the team on X, they just sent 66,293,390 (66.29 million) FLR to dead wallets. This figure is worth a market value of $1,939,081 against prevailing rates. The…
The price of Bitcoin (BTC) has broken past $50,000 per coin for the first time since December 2021. Coinbase data shows that the largest digital asset by market cap hit the $50,000 mark at 11 a.m. Eastern Time (5 p.m. Central European Time) on Monday. Source: Screenshot of Bitcoin price on Coinbase exchange The asset, which this time last year was priced at less than $22,000, is up by more than 15% over the past seven days. Over the past month, it has risen by 16%. BTC looked like it was having a slow year after the approval of several…
With spot Bitcoin exchange-traded funds poised to start trading after official approval, the crypto industry can let out a collective breath. Investors can start looking toward the next big narrative — Ethereum restaking. Crypto market analytics platform CoinGecko has just launched a new category for restaking tokens, leading analysts to speculate that this could be a big growth area this year. Ethereum Restaking Narratives In essence, restaking allows users to stake the same ETH on both Ethereum and other protocols. This secures all of these networks simultaneously, allowing for the leverage of existing trust networks. By leveraging Ethereum’s validators and…
The dominance of the U.S. dollar as the linchpin of the international financial system is being increasingly questioned due to shifting geopolitical currents and the country’s growing twin deficits, Wall Street giant Morgan Stanley (MS) said in a report last week.Enter cryptocurrencies, which, while still in their early stages, have the potential to both erode and reinforce the dollar’s dominance in global finance, the bank said.“The recent growth in interest of digital assets such as bitcoin (BTC), growth of stablecoin volumes and the promise of central bank digital currencies (CBDCs), have potential to significantly alter the currency landscape,” wrote Andrew…
This week, the first token conforming to the ERC-404 token standard is up 12,500%. The token blends the fungibility of ERC-20 tokens with the distinctive qualities of rare NFTs to herald a new era of tokenization. Pandora’s PANDORA token has risen to $29,517.61 since its launch earlier this month. Pandora Tokens Herald Era of Liquid NFTs Pandora tokens are fractionally bound to a whole NFT. The tokens themselves are tradeable and liquid on decentralized exchanges (DEX) like a regular ERC-20 token. The fractions make the whole NFT as liquid as a regular DEX trading pair. PANDORA Four-Hourly Price Chart |…
In 2024, Bitcoin (BTC) seems to be on the cusp of significant change, with the upcoming halving event expected to bolster its fundamentals and reduce selling pressure. This pivotal moment, combined with the surge in interest from innovations like Ordinals and the rapid adoption of Bitcoin ETFs, signals a bullish outlook for Bitcoin’s price. Such ETFs, indicating strong investor confidence, could push prices to new highs, further fueled by a fear of missing out (FOMO) among investors. This article explores the critical factors poised to drive Bitcoin’s value and investor interest in 2024, highlighting a potentially landmark year. Impact of…
Industry experts predict a clear path to approval of spot Ethereum ETFs in 2024, with some even predicting trading will begin as early as the second quarter. Spot Ethereum ETFs Ready for Approval in 2024, Analysts Predict Following the approval of 11 spot Bitcoin ETFs on January 10, the focus has now shifted to spot Ethereum ETFs. Many major players, including BlackRock, VanEck, ARK 21Shares, Fidelity, Invesco Galaxy, Grayscale and Hashdex, have filed for spot Ethereum ETFs with the US Securities and Exchange Commission (SEC). Following the approvals, Ethereum’s price rose nearly 3%, rising above $2,500 for the first time…
Bitcoin (BTC) experienced a slight recovery today and its price rose above $43,000. This revival is attributed to the potential pause in interest rate increases by the FED, which is scheduled to meet at the end of January. The FED’s meeting, which will take place in just 15 days, will determine the future direction of the US Federal Reserve’s monetary policy. According to the CME FedWatch tool, current forecasts show a 97.4% chance that the Fed borrowing rate will remain steady within its current target range of 5.25%-5.50%. Analysts from Bitfinex have suggested that a pause in interest rate hikes…
With the recovery in the broader crypto ecosystem, XRP is sailing the tides to new coasts. The cryptocurrency activated its rebound mode after soaring as high as 3.4% in the past 24 hours to $0.522. Over the trailing seven-day period, XRP has jumped by more than 7%, according to data from CoinMarketCap. This recovery means a lot for XRP bulls and its broader community of HODLers as the need to recover lost ground remains the key pursuit. Over the past six months, XRP has traded far below its core rivals. The price of the asset has dropped by 17.07% over…
Bitcoin’s price topped $49,000 Monday after strong spot bitcoin ETF inflows late last week. Bitcoin ETFs gained net $1.1 billion fresh funds amid slowing GBTC outflows. Bitcoin (BTC) topped $49,000 Monday supported by last week’s strong exchange-traded fund (ETF) inflows and signs of institutional accumulation. The largest crypto was hovering around $48,000 earlier during the day before experiencing a sudden spike to $49,100 in the beginning of the U.S. trading session. At press time, BTC was changing hands slightly above $48,900, up nearly 2% over the past 24 hours and outperforming the broad-market CoinDesk 20 Index’s (CD20) minor, 0.2% decline.…