Author: NBTC

BTC, the largest cryptocurrency by market cap, has bounced back from the $52.62K support level on Friday, showing signs of a price reversal in the short term. Market analysts anticipate that if this momentum is maintained, the asset could witness its value surge toward the $59K threshold by the end of the week. Could this be the beginning of the much-awaited bull run? BTC Price Action Over the past 24 hours, Bitcoin has exhibited heightened positive sentiment, with its price challenging its previous highs. As observed on CoinMarketCap, the token commenced the day with an opening price of $53.83K before…

Ethereum price extended losses and tested the $2,450 support zone. ETH is recovering losses and faces many hurdles near the $2,550 level. Ethereum started a downside correction below the $2,550 support. The price is trading below $2,550 and the 100-hourly Simple Moving Average. There is a key bearish trend line forming with resistance at $2,560 on the hourly chart of ETH/USD (data feed via Kraken). The pair could start a fresh increase if it clears the $2,550 and $2,600 resistance levels. Ethereum Price Starts Recovery Ethereum price extended its decline below the $2,600 level like Bitcoin. ETH traded below the…

Experts warn that the high investment required to join the digital ruble platform could be prohibitive for small Russian banks, as it exceeds their annual tech budgets by several times. The entry cost for Russian banks to join the Bank of Russia’s central bank digital currency platform appears to be extremely high for small lenders, as it significantly exceeds their annual tech budgets, Russian newspaper Kommersant reports, citing local industry participants. As per their estimates, it would cost between ₽120 million to over ₽200 million rubles (around $1.3 million to $2.2 million) to upgrade their systems, including automated banking and…

With the deadline for the SEC’s appeal fast approaching, there’s growing anticipation around Ripple’s legal battle and how it could impact the broader market. By October 7, 2024, the SEC must decide whether to appeal the recent ruling in Ripple’s favor, a decision that’s being closely monitored by investors and legal experts alike. However, amid uncertainty in the crypto space, Grayscale recently re-launched its first XRP trust in the U.S. Some believe the SEC’s chances of overturning the case are slim, and even if an appeal is filed, it may not have a major impact on the final outcome. According…

The Australian Securities and Investments Commission (ASIC) has taken action against a former crypto exchange executive for fraud. According to the announcement today (Tuesday), the regulator charged Grant Colthup, the ex-CEO of ACCE Australia, which operated the Mine Digital crypto exchange, with the theft of AU$2.2 million (about US$1.5 million) from one of the customers. The regulator charged Colthup with one count of fraud, and he appeared in court yesterday (Monday). The case has been adjourned to 16 December 2024. Notably, the proceedings against Colthup came after a regulatory investigation. Paying Liabilities with Customer’s Money ACCE operated a cryptocurrency exchange…

In an exciting Web3 GameFi update, L2 Blockchain, Mantle Network announced its partnership with OKX Web3 to bring users the Mantle Telegram Adventure Event which is a two-week campaign. Gamers will have the chance to win from a prize pool of over 100,000 and additional $MNT tokens. The Telegram Mini-Game event will take place from October 24 to November 7. Mini-Games Worth 1000 $MNT: According to the official announcement, the game is open to all, starting from novice players to expert gamers. Participants are required to link their OKX wallets and complete specific tasks in each of the ten mini-games.…

Victoin, a well-known L1 blockchain that focuses on scalability, security, speed, and user experience, has announced an exclusive collaboration with Fireblocks. The partnership includes the integration of Fireblocks as a technology provider for Viction in an endeavor to offer the top standards of operational efficiency and security for the consumers and builders. The platform took to its official social media account to reveal this collaboration. Viction has now integrated @FireblocksHQ, boosting security and scalability for all builders and Viction citizens. Fireblocks is an enterprise platform to manage digital asset operations and build innovative businesses on the blockchain, and we’re excited…

Bitcoin ETFs see record institutional adoption and organic growth, according to ETF experts. Key Takeaways BlackRock’s iShares Bitcoin Trust faced a $9 million withdrawal on September 9. US Bitcoin ETFs reversed an 8-day outflow trend with over $28 million in net inflows. BlackRock’s iShares Bitcoin Trust (IBIT) saw around $9 million in net outflows on September 9, marking its third day of outflows since its January launch. Yet, net flows into US spot Bitcoin exchange-traded funds (ETFs) turned positive, reversing the outflow trend that had been ongoing for the past eight trading days, according to data from Farside Investors. IBIT’s…

Currently, Ethereum is trading at $2,582.01, down 1.56% in the last 24 hours with support near $2,563. The price is now retracing after a recent rally to nearly $2,800. Analysts have mixed views on ETH’s future direction, as technical indicators signal potential consolidation or further downside. Price Action and Technical Analysis The price of Ethereum has retraced sharply off resistance near $2,800, followed by $2,563. The next key resistance level lies around $2,628, where ETH previously faced selling pressure. If the previously established level is breached then this could represent renewed bullish momentum. 1-day Ethereum trading chart: source TradingView The…

Ethereum co-founder Vitalik Buterin recently posted an intriguing anecdote on Twitter stating that he made $5 earlier this year by participating in prediction market arbitrage. This little sum was earned more for enjoyment than for profit, he acknowledged, adding that automated bots are probably taking advantage of these opportunities more frequently these days. A user opened the discussion by asking What prevents people from doing prediction market arbitrage? Buterin’s response: Nothing. Profiting from variations in odds or prices across different platforms is known as prediction market arbitrage. When two platforms offer varying odds for an event for example an arbitrage…