Author: NBTC
The whale purchases marked a change in behavior compared to their inaction during previous dips over the past week. The action perhaps helped bitcoin’s rebound to $65,000, marking the $60,000 level as a key support level for bitcoin’s price where buyers step in. Large bitcoin (BTC) investors substantially increased their holdings as prices dipped below $60,000 in early Friday’s panicky action on the crypto markets ahead of the asset’s much-anticipated halving event. Blockchain analytics firm IntoTheBlock’s “large holder netflow” metric shows that Bitcoin addresses holding at least 0.1% of the supply added 19,760 BTC worth over $1.2 billion to their…
Bitcoin and other leading cryptocurrencies may be showing bearish trends, but Solana meme coin Catwifhat (CWIF) is bucking that pattern. Catwifhat, a feline-themed counterpart to Soalna memecoin Dogwifhat, is back on an upward trajectory. The coin has surged by 42% today, reaching $0.00000082 following a 60% jump in trading volume. Data from CoinMarketCap reveals that Catwifhat has regained a market capitalization of $30 million. The meteoric ascent of Dogwifhat is still fresh in the minds of investors who are cautious about not fading its feline counterpart. At its peak, Dogwifhat became the top Solana meme coin, reaching a valuation of…
The classification of ethereum as a security poses not only risks to the entire crypto market, but it could also likely lead to many crypto teams exiting the space. This designation might hinder progress and potentially reverse years of advancements in the cryptocurrency market. The U.S. Securities and Exchange Commission has likely delayed its decision on ethereum’s status to keep the crypto asset in a “grey area.” Security Designation May Prompt Return to PoW Consensus According to Amina Bank, designating ethereum (ETH) as a security “would pose significant risks to the entire cryptocurrency and decentralized finance (defi) ecosystem.” Such a…
OTC liquidity network Paradigm introduces block trading for linear altcoin options on the centralized crypto exchange Deribit. The inaugral trade between QCP Capital and Galaxy Digital involved MATIC call options expiring on May 31. Crypto over-the-counter liquidity network Paradigm announced on Monday a block trading facility on leading derivatives exchange Deribit for options tied to prominent alternative cryptocurrencies (altcoins), MATIC, SOL, and XRP. “Clients can now execute block trades in Polygon (MATIC), Solana (SOL), and Ripple (XRP),” Paradigm said on X, adding that the linear options will offer payouts that “directly correlate with the price movements of the underlying asset.”…
The long-awaited day of the 4th phase of Bitcoin’s halving is looming in the cryptocurrency sector. The countdown to this event shows that it could happen around the final hours of Friday evening if you are located in the Americas or Saturday morning if you are in Asia or Europe. According to the market metrics, the event is much anticipated and should be discounted well in advance of its actual occurrence. In contrast to unpredictable overnight barrages of rockets in the heat of the Middle East, the halving event has a clear outcome—the amount of BTC rewards that miners get…
Amid the crypto recovery phase, the tokens like FET are getting significant attention. Keeping that in view, 2 wallets linked to Fetch.ai, a popular AI platform offering instruments to develop cutting-edge apps, deposited huge amounts of $FET tokens to Binance. As per SpotOnChain, an on-chain insights provider, this event takes place following huge minting. Wallets linked to @Fetch_ai are depositing $FET to #Binance after the massive minting!In the past 13 hours, two wallets, 0x633 and 0xbb0, which received tokens from the Fetch foundation, deposited 1.47M $FET ($3.59M) to #Binance.Notably:• Fetch foundation minted 1.48B $FET… pic.twitter.com/JcsdbUJNOJ — Spot On Chain (@spotonchain)…
Uniswap Founder Hayden Adams, in his recent X post, raised the alarm over US President Joe Biden’s approach to cryptocurrencies. Adams pointed out that Biden and other Democrats’ alleged anti-crypto stance could harm the crypto industry. Hillary campaigning in red states states instead of swing states level miscalculation from Biden camp thinking crypto will be irrelevant in 2024 election and letting SEC + Warren wage total war – both in terms of voters and moneyRepublicans smell blood in the water and are… — hayden.eth 🦄 (@haydenzadams) May 13, 2024 Ahead of the 2024 US Presidential Election, both Democratic and Republican…
Grayscale’s spot Bitcoin ETF continued a five-day outflow sprint leading to the halving, a code change that occurs every four years to help maintain BTC scarcity. Data gathered by SoSoValue showed $89.9 million in Grayscale exits, bringing GBTC’s total net outflows to $1.6 billion since trading opened back in January. For all 10 spot Bitcoin (BTC) ETFs, cumulative outflows were recorded as $4.3 million, as Fidelity and BlackRock garnered demand to offset some of GBTC’s liquidations. Fidelity’s FBTC net inflows came in at $37.3 million, outpacing $18.7 million, boasted BlackRock’s IBIT. April 18 marked a rare occurrence where BlackRock was…
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Police in Panshi City of the Jilin Province have successfully cracked down on a large-scale underground bank operation involving virtual currency, with the total transaction amount exceeding 2.14 billion yuan (approximately $317 million USD). The operation, which involved six suspects, facilitated illegal currency exchange between the Chinese yuan (RMB) and the South Korean won (KRW) by exploiting the anonymity and decentralized nature of virtual currencies. According to authorities, the investigation began after the Panshi City Public Security Bureau’s Economic Investigation Brigade discovered suspicious activity linked to two individuals, Jin Moudong and Shen Mou. The investigation revealed a high volume of…