Author: NBTC
Like many other separate parts of the globe right now, India’s ongoing relationship with cryptocurrency is a complex one. On one side of the coin, the country is host to a thriving crypto market thanks to forward-thinking, tech-savvy population and a growing interest in alternative investment options. On the flipside, slow progress relating to concrete regulations has set an uncertain tone. This excitement surrounding the future of crypto in India is perhaps most evident in the flourishing market for crypto options, which allow investors to speculate on the future price movements of digital assets without directly owning them. As interest…
Samson Mow attributes Bitcoin’s recent price drop to rising tensions in the Middle East. Bitcoin’s price fell 15% from its all-time high, now trading around $63,000. Despite current market volatility, the upcoming Bitcoin halving is expected to cause a major supply shock. Bitcoin, the leading cryptocurrency, experienced a sharp decline of 15% from its all-time high, now valuing it at approximately $63,000. This downturn comes just days before the much-anticipated Bitcoin halving event, sparking widespread speculation about the causes behind the drop. Prominent Bitcoin investor Samson Mow shed light on the situation in a recent discussion, pointing to escalating tensions…
The US Securities and Exchange Commission (SEC) may greenlight spot Ethereum exchange-traded funds (ETFs) that do not include the staking feature, suggests Alex Thorn, Head of Research at Galaxy Digital. He believes the SEC would distinguish Ethereum (ETH) and staked ETH in the approval process. “If the speculation about a 180 from SEC on the Ethereum ETFs is true, I would guess they try to thread a needle between “ETH” NOT being a security and “staked ETH” (or even more flimsily, “staking as a service ETH”) as BEING a security,” he stated. According to Thorn, by setting clear boundaries between…
As the Shiba Inu (SHIB) price continues to navigate through a period of consolidation, on-chain data reveals a surprising insight: a massive 733 trillion SHIB tokens held in wallets remain profitable despite the current lull in SHIB’s price. This revelation underscores the resilience and long-term commitment of SHIB holders, despite short-term fluctuations in market sentiment. The Break Even Price indicator looks at realized gains and losses based on on-chain data for addresses that are currently holding the crypto asset. Despite the recent SHIB price lull, this on-chain indicator reveals a substantial portion of SHIB holders continue to hold onto their…
The European Council has approved the European Union’s AI Act, making it the world’s first legal framework on artificial intelligence. The act, which received approval on Tuesday, is expected to enter into force next month, with its regulations becoming applicable in two years. This landmark legislation aims to ensure the development of safe and trustworthy AI systems within the single market and protect the rights of EU citizens. Comprehensive framework with specific exemptions The AI Act is designed to apply exclusively to areas within EU law. It includes specific exemptions for systems used solely for military and defense purposes, as…
Blockchains nearly always rely on testnets, kept separate from the ‘mainnet,’ to ensure changes to client software can be introduced safely. Bitcoin has a testnet and this testnet has its own currency, tBTC Of course, tBTC and the entire Bitcoin testnet are supposed to be worthless. However, crypto’s embracing of degeneracy has transformed tBTC into a real, $25 million-and-growing asset backed by approximately one-third the hash rate of Litecoin. Litecoin, a proof-of-work blockchain operating since October 2011, has a hash rate of approximately 1 petahashes per second. Testnet bitcoin has a hash rate around 0.36 petahashes per second. For context,…
The Avalanche Foundation (AF) is excited to announce the launch of its Icebreaker Program, an ambitious initiative to strengthen the Avalanche ecosystem’s growth and resilience by expanding AF’s on-chain activities. This program marks a significant milestone in AF’s journey toward promoting innovation, supporting emerging projects, and becoming a cornerstone of Avalanche’s growing entrepreneurial community. Objectives of the Icebreaker Program The Icebreaker Program has four key objectives: 1. Empowering New Projects: AF aims to assist new and emerging projects in overcoming initial barriers to market entry, providing them with greater support so they can more effectively demonstrate their value proposition and…
The price of Bitcoin immediately dropped below the $60,000 level as the halving approaches. According to CoinMarketCap data, Bitcoin (BTC) is down more than 3% in price over the past 24 hours, trading at $59,800 when writing. Cryptocurrency trading volumes decreased by almost 12% to $40 billion. Source: CoinMarketCap CoinGlass data shows that traders are actively liquidating positions. In the last four hours, traders have offloaded over $115 million worth of assets, $96.70 million of which were long positions and the rest short. The largest share of liquidations occurred on the OKX crypto exchange, totaling $43.81 million. Source: Coinglass You…
Ethereum’s price surged by 5.59% last week, reaching $3,089.25. However, it has experienced a modest decline of 0.56% in the past 24 hours. With a trading volume of $10.95 billion and a market capitalization of $371.1 billion, Ethereum’s market activity is attracting considerable attention. Technical analysis reveals that the Relative Strength Index (RSI) for Ethereum on the weekly chart sits at 55.47. This value indicates a market that is neither oversold nor overbought. Traders are therefore anticipating potential price movements in either direction. This balanced RSI suggests that the market could soon experience increased volatility. Furthermore, the Moving Average Convergence…
Saga, a layer-1 blockchain with a focus on gaming, recently built up a ton of hype for its mainnet and token launch by running a play-to-airdrop campaign and rewarding DeFi stakers across various networks. But the incentives don’t stop there. Saga is now rolling out its next wave with a colorfully-titled campaign. The “Power-Level Over 9,000” airdrop campaign—named after a “Dragon Ball Z” reference that became an internet meme—was first revealed in April and leans on partnerships with more than 100 projects across various chains, Saga says, including games and other decentralized apps. The campaign will dole out bundles of…