Author: NBTC
The NFT market has endured a down year as digital collectibles prices broadly failed to recapture previous highs, and changed hands less often than in the past. Though NFTs have begun to show greater signs of life in the past few weeks, weekly NFT trades have been parked between 100,000 and 150,000 since May after regularly topping 500,000 in early 2022, according to data from Dune Analytics. Amid the downturn, a slate of platforms have begun to offer tax-loss harvesting services for NFT holders. These sites charge a small fee to purchase NFTs that have lost their value and are…
Crypto markets across the globe had struggled with layoffs and salary delays last year. Pressure on financial resources with high interest rates and a crunch on investor appetite made organizations struggle in 2023. However, the start of 2024 hasn’t been any different either. Mass layoffs that started in 2023 and have spilled their way into 2024 as well. Deutsche Bank announces layoffs, follows Citi’s suit Germany’s Deutsche Bank announced that it is planning to cut 3,500 jobs to reduce costs. Reports suggest that Germany’s largest lender has made headway toward the goal of reducing capital outflow, but it still needs…
Sharbi, the top overall coin launched by the Shiba Inu community on the L2 Shibarium, marked a cyclone of breakthroughs recently as it announced plans to launch FETCH, a one-of-its-kind multichain bridge that connects Shibarium, Ethereum, and Arnitrum. Forged by Solidity.io, a prominent blockchain development firm, FETCH poises to reduce the current off-chain bridging time substantially, reducing it from 7 days to an extremely eye-captivating 15 seconds, staging as a pioneer across the cryptocurrency market. With the community’s plan to launch FETCH as of February 14 at 10 AM EST, the Shiba Inu community appears to be primed for a…
Bitcoin, the leading cryptocurrency, made the move that investors have been waiting for a long time and exceeded $ 52,000. As the risk appetite among investors increases, the expectation of a new ATH continues to increase. At this point, Singapore-based cryptocurrency company QCP Capital, which evaluated the performance of Bitcoin, announced its predictions for ATH. Amid massive Bitcoin ETF inflows and bullish derivative calls, QCP Capital analysts claimed that the BTC price could reach an all-time high by the end of March. Stating that global liquidity has returned to Bitcoin ETFs, analysts said that they expect the BTC price to…
The launch of so-called ‘synthetic dollar’ Ethena (USDe) took place on Monday, alongside a heavily-shilled points programme, labelled as a ‘Shard Campaign.’ So far, over $300 million has been deposited into Ethena, which promises an internet bond with a ‘real yield’ of 27% for users who stake USDe. However, many are sceptical of the project’s sustainability, accusing Ethena of shortsightedness with respect to the source of the yield. After all, this isn’t the first time a stable source of high-yields has been marketed to the masses. The stablecoin (or ‘synthetic dollar‘) is backed by a delta-neutral position that balances a…
For the overwhelming majority of NFTs, the brutal bear market of the last two years wasn’t just a phase: Some 90-95% of NFT collections will never return to pre-bear market valuations, DappRadar Head of Research Pedro Herrera recently told Decrypt. For many NFT owners, then, the question of what to do with millions of now “worthless” JPEGs is looming large. One potential solution: embracing those losses head-on, and using them to save on taxes. Unsellable, a startup founded last year that buys illiquid NFTs off weary holders at a penny apiece in order to allow those owners to take tax…
Ethereum Co-Founder Vitalik Buterin is stirring up big ideas for Ethereum, arguing that the ecosystem should not just be about money. According to him, it should be about creating a new way for online interactions freed of controls from big companies in Silicon Valley. This visionary manifesto came in a recent publication, “The End of My Childhood,” citing snippets from earlier commentary on “Make Ethereum Cypherpunk Again.” In the article, Buterin discussed a different approach to technology. He compared the usual way tech works, where big companies control everything, to a new vision for Ethereum. This vision includes using Ethereum…
Meta’s metaverse division is still raking in losses but managed to impress with revenue last quarter. Reality Labs, the company’s metaverse-focused team, notched losses of roughly $4.6 billion, though the unit took in revenue of over $1 billion. To put that figure into perspective, Reality Labs reported revenue of $727 million in the same period a year earlier. The company attributed the third-quarter revenue to sales of the Quest 3 — its newest virtual reality headset — during the holiday season. For the 12-month period ending Dec. 31, the unit reported losses totaling $16.1 billion. “We’ve made a lot of…
After implementing an aggressive deflationary campaign following its collapse in 2022, Terra Classic (LUNC) is now close to hitting the 100 billion token burn milestone. Terra Classic comes off as one of the biggest beneficiaries of the bullish rallies in the market today. The major uptick being recorded is not necessarily in its price alone but also burned tokens. Per data from Luncmetrics, the community’s collaborative efforts resulted in the incineration of 383,184,360 LUNC over the past week. This figure just tilted the total LUNC burnt since May 2022 to 98.60 billion with just 1.4 billion away from the 100…
After experiencing heightened buying pressure and a robust surge, Bitcoin’s price has breached a significant resistance region, notably the psychological threshold of $50K and the upper boundary of the multi-month ascending channel. This signals a notable bull market, with investors eyeing the possibility of Bitcoin reaching new all-time highs in 2024. Technical Analysis By Shayan The Daily Chart Upon careful examination of the daily chart, it’s clear that Bitcoin’s price has embarked on a remarkable, bullish surge, successfully reclaiming the substantial $50K resistance region and surpassing the upper boundary of a long-standing ascending channel. This indicates a prevailing bullish sentiment…