Author: NBTC

The premier crypto asset, Bitcoin, consolidates near its past peak, as data shows over 320K active addresses engaged within the current range. Bitcoin began the week on a strong note, reaching a multi-month peak of $69,500, though it fell short of hitting the crucial $70,000 mark. The cryptocurrency is now trading 7.37% below its all-time high of $73,737, recorded on March 14, 2024. Notably, IntoTheBlock’s data indicates high engagement among Bitcoin addresses near its previous all-time high, with over 320,000 active addresses interacting within this price range. Of these active addresses, about 220,000 have an average purchase price of $68,500.…

Decentralized Finance (DeFi) projects with low Market Cap to Total Value Locked (MC/TVL) ratios are getting popular with investors. This metric, which is commonly used to assess valuation and trust, helps identify projects with strong fundamentals and untapped growth potential. Snapshot of Low MC/TVL Projects :• $ZERO: MC $6.42M | TVL $307.12M | MC/TVL 0.02• $MNDE: MC $54.98M | TVL $2.08B | MC/TVL 0.03• $EIGEN: MC $478.03M | TVL $14.33B | MC/TVL 0.03• $RENZO: MC $61.09M | TVL $1.70B | MC/TVL 0.04• $ETHFI: MC $369.40M | TVL $7.20B | MC/TVL… — Tokenomist (prev. TokenUnlocks) (@Tokenomist_ai) November 26, 2024 As per…

Ethereum’s recent price action highlights a mix of bullish momentum and cautious consolidation, with the price approaching a critical resistance at $3.5K. A breakout above this level could pave the way for a significant rally, but the potential for a continuation of the consolidation phase remains. Technical Analysis By Shayan The Daily Chart Ethereum’s upward trajectory has been marked by corrective retracements, which found support near the 200-day moving average at $3K. This zone acted as a significant support, with increased buying activity pushing the asset back toward the crucial $3.5K resistance, a region aligning with previous swing highs. The…

Aethir, the DePin “GPU-as-a-service” provider, announced a partnership with GMI Cloud, AI cloud service provider, and GAIB, an AI economic layer. These three will support H200 Tensor Core GPUs for global AI developers. Aethir has used its decentralized GPU hardware capabilities for several major AI projects in recent months. Aethir’s AI Initiatives According to a press release shared with BeInCrypto, DePin “GPU-as-a-service” firm Aethir is upgrading its decentralized computing ecosystem. Thanks to a partnership with GMI Cloud, an AI-focused cloud service provider, and GAIB, an AI economic layer, Aethir hopes to integrate new H200 Tensor Core GPUs into its DePin…

Bitcoin news of the newly launched Bitcoin-backed stablecoin USDa by Avalon Labs has rapidly gained traction in the market. It has amassed a supply of over 200 Million within just two weeks of its release. Positioned as the world’s first overcollateralized stablecoin backed by Bitcoin, USDa is now ranked as the third-largest CDP (collateralized debt position) stablecoin. USDa is trailing only behind established players like MakerDAO and JustStables. Issued by Avalon Labs, USDa emerged has a great innovation in the stablecoin space. It is attractive due to its overcollateralization promise. It ensures stability and reliability by backing each USDa token…

The price of Ethereum (ETH) hit $3,500 Monday morning, the highest the cryptocurrency has seen for four months since surpassing $3,500 on July 21. At time of publication, Ethereum has slipped back to around $3,475, up 3.6% on the day and 11.4% in the past week, per data from CoinGecko—the biggest weekly gains among the top five cryptocurrencies by market cap. Over the past year, Ethereum has become the butt of the joke of many crypto enthusiasts as they mocked the cryptocurrency’s middling gains. Compared to other major tokens, ETH has lagged behind, climbing just 49% since the start of…

With Bitcoin (BTC) hovering below $70,000, the record-breaking futures open interest may offer clues about its next price movement. As it stands, Bitcoin’s futures open interest hit an all-time high of almost $40.5 billion on October 21, according to data retrieved by Finbold from the crypto on-chain analysis platform CoinGlass. Implication of Bitcoin’s futures open interest Open interest refers to the value or number of outstanding futures contracts that have yet to expire. Typically, this metric measures the amount of money invested in Bitcoin derivatives at any given time. A high level of open interest suggests more active engagement from…

The Ethereum Foundation has initiated its first-ever “Attackathon,” a community-driven challenge offering $1.5 million in prizes to identify flaws in the Ethereum protocol. Ethereum Hosts Attackathon According to the announcement from the foundation’s Protocol Security Research Team and the Ecosystem Funding Initiative, the Attackathon event will take place from Nov. 25, 2024, to Jan. 20, 2025, in collaboration with security platform Immunefi. This initiative, led by the foundation’s Protocol Security Research Team and Ecosystem Funding Initiative, invites security experts and auditing companies to bolster the network’s security. Framed as a competitive and time-restricted endeavor, the event is structured to reveal…

As the 2024 U.S. presidential election approaches, the Bitcoin price is still exhibiting upward momentum Monday morning during European trading hours. In fact, BTC briefly touched a high of $69,227 earlier today. The apex cryptocurrency is currently trading at $68,270, down 0.2% over the last 24 hours, according to data from CoinGecko. Meanwhile, Ethereum (ETH) has also seen positive movement, trading at $2,713, up 2.5% during the same period. Experts are attributing the market’s bullish sentiment to the upcoming elections, with Bitcoin edging closer to the critical $70,000 mark. Speaking with Decrypt, Avinash Shekhar, Co-founder and CEO of Pi42, believes…

Ethereum (ETH) is attracting investor attention as capital flows shift away from Bitcoin (BTC), with derivatives market activity indicating strong near-term bullish sentiment for the second-largest cryptocurrency by market cap. Over the weekend, ETH saw an increase in open interest alongside increased implied volatility, indicating growing confidence among derivatives traders. This momentum has translated into a significant price rally, with ETH gaining over 6% in the past 24 hours to trade at a peak of $3,513. In contrast, Bitcoin saw a modest 0.5% decline. Wintermute analysts highlighted a clear shift in favor of ETH in their weekly crypto market update.…