Author: NBTC
The chief investment officer of crypto fund manager Bitwise is predicting new all-time highs for Ethereum (ETH) if spot ETH exchange-traded funds (ETFs) are ultimately approved. Earlier this week, the U.S. Securities and Exchange Commission (SEC) approved a rule change that sets the stage for the potential green lighting of spot market Ethereum ETFs. In a new interview on the Bankless podcast, Matt Hougan predicts investor inflows into ETH ETFs would total billions of dollars and drive ETH beyond its all-time high of about $4,900, which it hit back in November 2021. “I don’t think Ethereum ETFs will match Bitcoin…
The ezETH depegging incident, driven by poor communication and lack of withdrawal mechanisms, highlights crucial lessons in ensuring stability and effective risk management in the DeFi space. The crypto community was shaken when Renzo’s native token, ezETH, diverged significantly from the price of its underlying asset, Ether (ETH), in April 2024. This phenomenon, known as depegging, occurs with stablecoins that cannot maintain their fixed value and lose their value compared to the underlying asset. On major decentralized exchanges (DEXs) like Uniswap, ezETH dropped to $688 at its lowest point, causing panic among investors. Although the token has since recovered, it…
Following a significant surge toward the $4K resistance level, Ethereum’s native token has encountered increased selling pressure, resulting in a slight consolidation. The price is expected to fluctuate within a tight range and experience increased volatility before making its next significant move. By Shayan The Daily Chart The daily chart shows that Ethereum experienced renewed demand and buying pressure near the critical $3K support level, which aligns with the 0.5 ($3,133) and 0.618 ($2,906) Fibonacci retracement levels. This buying momentum led to a notable upward move, with many short positions being liquidated as the price approached the substantial $4K resistance…
Crypto prime broker FalconX has launched a dedicated FX desk. The new team joins from crypto banking firm BCB Group. The desk will be led by Ben Sebley and is based in London. Cryptocurrency prime broker FalconX is launching a dedicated foreign exchange desk in London that will be staffed by a team hired from crypto banking firm BCB Group. The desk will offer crypto trading firms, exchanges and brokers to access 20 forex pairs, including major currencies such as the U.S. dollar, the euro, and the British pound, the company said in a press release on Tuesday. The team…
The price of Bitcoin, the world’s largest cryptocurrency, experienced a sudden decline today and the price fell below $ 68,000. The BTC price, which was above $ 71,000 during the day, lost more than 5% of its value at its bottom with this decrease and is trading at $ 68,044 at the time of writing this article. The main reason for the decline in Bitcoin price is the tension between Israel and Iran. It is known that Iran wants to retaliate against some groups affiliated with Iran that were killed by Israel weeks ago. Recently, it has been rumored that…
SSV Network, a business that specializes in distributed validator technology (DVT), recently achieved a significant milestone for blockchain security with the successful completion of its Simple DVT Holesky Testnet. The project was carried out together with Lido Finance (a DeFi protocol) and its staking community to demonstrate how powerful DVTs can be for securing the blockchain. Lido Finance Sees Promise in SSV Network’s DVT Technology DVT technology is a new way of securing validators by distributing key management and signing duties among many different parties. This creative model guarantees resilience in the network by dividing the private keys of a…
It looks like the euphoria around meme coins might be finally gone. Out of the 10 worst performing categories on CoinGecko, five are associated with meme cryptocurrencies. At the same time, the most painful losses are associated with small-caps. Base, Solana meme coin ecosystems bleeding: Double-digit losses registered in 24 hours In the last 24 hours, amid the general crypto market apathy, meme-associated coins are yet again suffering the most. Two ecosystems demonstrated the worst performance metrics. Meme coins on Base, a Coinbase L2 for Ethereum (ETH), lost over 18% of value overnight. The aggregated capitalization of 38 largest Base…
The surge in Russian traffic to global cryptocurrency exchange platforms in the last two quarters has prompted officials to issue a warning about the risk of Western sanctions. According to a central bank study, Russian traffic to some of the largest crypto exchanges increased by 16.4%, reaching 104.6 million visits. Russian Share of Global Traffic Still Below 2023 Peak According to a recent study conducted by the Russian Central Bank, crypto trades by Russians on global exchange platforms surged during the last two quarters, prompting officials to issue warnings about increased risks for users. As detailed in a local report,…
Crypto mining analytics firm Hashrate Index says public Bitcoin miners are energizing their ASIC orders on schedule. Bitcoin miners are about to face a “hefty upward difficulty adjustment” in eight days as public mining giants accelerate their operations. According to analysts at Hashrate Index, top public miners have 76.6 EH/s of equipment on order for 2024, with 12.9 EH/s scheduled for delivery in Q1 and nearly 36 EH/s expected in Q2. “[…] the current surge in hashrate is going to smack miners with a hefty upward difficulty adjustment in about 8 days. It’s too early to say how large the…
Bitcoin’s (BTC) price is likely in the middle of a bull run, and it could continue the rally following the halving event. This is further substantiated by the investors holding on to their BTC, which is a testament to their conviction, stronger than in 2021. Bitcoin Investors Show Confidence After posting a new all-time high this month, Bitcoin’s price halted the rally as the market cooled down. While many considered this to indicate a market top, this may be its mid-point. The reason behind this is the conviction shown by investors. This is evident from the Relative Realized Profits. Comparing…