Author: NBTC

The Bitcoin (BTC) price has fallen below $58,000, with altcoins also experiencing around 3% losses. The majority of cryptocurrencies are in the red, and investor risk appetite has significantly decreased following Bitcoin’s unsuccessful attempt to break past the $65,000 threshold. A crypto analyst has compared current market conditions with historical data to forecast future trends. Impact on Bitcoin Investors Bitcoin’s continued weakness, coupled with low trading volumes and seller dominance, likely means any significant price recovery is improbable without an unforeseen catalyst. Avocado_onchain from CryptoQuant examined the current market scenario, noting that the decreasing ratio of UTXO outputs implies that…

Just one day after surviving a second assassination attempt, Donald Trump today launched his long-rumored crypto project, World Liberty Financial. Though much about the project remains unclear, the team behind World Liberty Financial unveiled previously unconfirmed details during a live interview with Rug Radio, Decrypt’s sister company. The project will offer borrowing and lending services for cryptocurrencies on the Ethereum blockchain network, not unlike the vast array of existing applications in DeFi—a catch-all term that describes cryptocurrency products that provide financial services without the need for intermediaries such as banks. Trump’s crypto project promises to be more “user friendly” and…

Crypto news: on the upcoming November 11, Coinbase Derivatives will launch futures on silver and Stellar, offering retail traders new investment opportunities and risk management in a regulated and secure environment. Let’s see all the details in this article. Coinbase integrates futures on traditional and crypto assets, including Stellar, promoting strategic diversification for traders Futures tailored for the retail market A vision of growth and innovation Coinbase integrates futures on traditional and crypto assets, including Stellar, promoting strategic diversification for traders Coinbase Derivatives, one of the main players in the crypto market, has announced the introduction of new futures for…

On September 4, 2024, Bitcoin (BTC) the world’s biggest cryptocurrency breached its crucial support level of $57,000, making a low of $55,670, according to CoinMarketCap data. However, the BTC price quickly recovered, returning to near the $56,800 level. $100 Million in Liquidations This significant price fluctuation in past hours has liquidated over $100 million in longs and shorts positions. The majority of the liquidation came from the long side. According to the on-chain analytic firm CoinGlass, out of $100 million in liquidation, bulls were liquidated for $91.35 million worth of long positions, while short sellers saw 8.57 million in liquidations.…

Ethereum’s recent price action suggests a strengthening bullish trend as it rebounds from the key support and approaches the significant resistance region of the 100-day MA. If ETH breaches this threshold, a sustained bullish trend will unfold. Technical Analysis By Shayan The Daily Chart Ethereum recently witnessed heightened buying activity around the middle trendline of a multi-month descending channel at approximately $2.4K. This demand surge led to a notable price rebound, pushing it toward the resistance region of $2.6K, aligning with the 100-day moving average. If Ethereum successfully reclaims this MA and confirms a pullback, it could initiate a fresh…

Hedera announced Monday it is launching its Asset Tokenization Studio, an open-source toolkit designed to streamline the issuance, management, and trading of tokenized bonds and equities on the Hedera network. The toolkit will keep all asset details securely managed on-chain, reducing risks associated with off-chain management seen in the basic ERC-1400 standard, Hedera explained. The team added that it will come with a comprehensive suite of features, including bond coupons, stock dividends, whitelisting, and support for various regulatory frameworks, ensuring a comprehensive solution for on-chain asset management. “By lowering technical barriers to the tokenization of bonds and equities, along with…

Transak has obtained two licenses from Canada and the US to enhance its regulatory compliance. In the US, Transak USA LLC secured its second Money Transmitter License (MTL) from the State of Delaware, following its first MTL from the Alabama Securities Commission acquired one month prior. In Canada, Transak Canada has registered with the Financial Transactions and Reports Analysis Centre of Canada (FINTRAC), allowing it to operate as a Money Services Business (MSB) in accordance with Canadian financial regulations. The Canadian registration occurs amid significant growth in the Canadian cryptocurrency market. A study by the Bank of Canada indicates that…

Fidelity’s FBTC sees second-largest withdrawal amid ETF downturn. Key Takeaways Fidelity’s FBTC faced a significant withdrawal, marking its second-largest since inception. Grayscale’s GBTC approaches $20 billion in cumulative outflows amid market challenges. US spot Bitcoin exchange-traded funds (ETFs) experienced a major downturn at the start of September, with $287 million in net outflows recorded on the first trading day following the Labor Day weekend, data from Farside Investors shows. These funds have seen their fifth consecutive day of net outflows, collectively shedding over $750 million since last Tuesday. Source: Farside Investors The post-Labor Day ETF market saw a wave of…

A wallet belonging to Ripple Chairman Chris Larsen moves 50 million XRP to a new unidentified address. Interestingly, the recent transaction marked the first notable outbound transfer from the wallet for the first time since its creation. Notably, this wallet was created in the early days of the XRPL and funded with a whopping 500 million XRP in February 2013, representing part of the XRP allocations to the Ripple Chairman. Since then, the wallet has failed to move any of the tokens, only transferring out 1 XRP in December 2017. However, most recently, whale tracking resource Whale Alert indexed the…

Bankrupt crypto exchange FTX has reached settlement agreements with Evolve Bank and Silicon Valley Community Foundation (SVCF) that could enable it to recover up to $21 million in assets. According to Oct. 30 court filings, these settlements still require court approval, with a hearing set for Nov. 20. Evolve Bank settlement Before FTX’s collapse in 2022, Evolve Bank maintained three accounts for West Realm Shires Services Inc., an FTX affiliate, under a Master Bank Services Agreement (MBSA). These accounts held more than $13 million in deposits on behalf of the FTX affiliate. Initially, Evolve Bank filed a non-customer Proof of…