Author: NBTC

An analyst who rode the 2023 crypto breakout believes that Bitcoin’s bull market will remain “incredibly strong” even if BTC plummets to $52,000. In a new strategy session, pseudonymous analyst DonAlt tells his 59,100 YouTube subscribers that a 30% correction from BTC’s all-time high should not be surprising considering that Bitcoin rose by almost 170% from October to March. According to the top analyst, a drop to $52,000 will not negatively impact the high time frame strength of BTC. “I think even if this pulls back to $52,000, it would look incredibly strong. That’s a tiny pullback in the grand…

Ethereum has come under scrutiny from the Securities and Exchange Commission (SEC), which has hinted at classifying it as a security. This move by the SEC has sparked controversy, especially after a clear stance in 2018 that Ethereum did not meet the criteria of a security. Blockchain software company Consensys has firmly positioned itself against the SEC‘s reconsideration in light of these events. Here are four compelling reasons supporting why Ethereum should not be deemed a security. 1. Historical SEC Stance on Ethereum In 2018, William Hinman, then Director of the Division of Corporation Finance at the SEC, made a…

Davinci Jeremie, a Bitcoin advocate since 2011, has urged crypto market participants to consider Shiba Inu in their investment portfolio. Jeremie issued this call in a recent post on X, where a crypto enthusiast sought his view about investing in Shiba Inu for potentially long-term gains. Jeremie responded affirmatively. Yes. https://t.co/C3Wj5De5Xa — Davinci Jeremie (@Davincij15) March 31, 2024 Notably, the context of the conversation revolves around his 2013 advocacy for investment in Bitcoin. Bitcoin Magazine initiated the conversation by unearthing a 2013 video in which Jeremie urged the investing public to buy Bitcoin. In the video, Jeremie implored investors to…

During the past weekend, the overall cryptocurrency market experienced sustained downward pressure. Bitcoin’s price underwent a further 2.34% decline, dropping to $62,311. Similarly, the altcoin sector encountered intensified selling activity, with the top ten altcoins correcting by 4-10%. Will BTC price crash further aftre May1? Let’s take a look at this in more detail. How has the Bitcoin price moved recently? Currently, the price of Bitcoin stands at $62,300, with a 24-hour trading volume of $128.17 billion, a market capitalization of $1.23 trillion, and a market dominance of 52.60%. Over the past 24 hours, the price of BTC has decreased…

In the last two weeks, liquid staking derivative (LSD) protocols have experienced a decline of 60,000 ether valued at over $198 million, with Lido accounting for 40,000 of the ETH withdrawn. LSD Sector Snapshot: $198 Million Ether Withdrawn in 2 Weeks Liquid staking has been witnessing a decrease; on April 15, 2024, the 27 distinct LSD platforms had 13.15 million ether, which has now dropped to 13.09 million ETH, currently valued at $43.01 billion. The LSD protocol Lido remains the largest holder of ETH among the LSDs, possessing 9.35 million ether, which represents 71.41% of the total market share. Two…

In the ever-evolving landscape of blockchain technology, Solana has emerged as a market leader with its fast, secure, and scalable infrastructure. With a robust ecosystem hosting hundreds of projects ranging from decentralized finance (DeFi) to non-fungible tokens (NFTs), Solana stands at the forefront of innovation in decentralized applications (dapps). What factors have pushed Solana to become a blockchain leader, and how can investors use Bybit to capitalize on this growth? The Rise of Solana: Revolutionizing Decentralized Applications Solana is an open-source blockchain platform that achieves fast transaction speeds and scalability without relying on layer 2 solutions, which are common on…

Thai authorities recently cracked down on a crypto mining operation suspected of stealing electricity. The raid in Samut Sakhon and Ratchaburi netted over 650 mining devices valued at more than 200m baht (about $5m). Acting on tip-offs about unusually high electricity use, officials from Thailand’s Cyber Crime Investigation Bureau and the Provincial Electricity Authority (PEA) secured warrants and raided the two locations, the Bangkok Post reported Monday. The raid in Samut Sakhon targeted a surprising location – a temple compound in the Ban Phaeo district. Here, authorities seized 187 crypto mining devices. A separate warehouse in Ratchaburi yielded another 465…

Price fluctuations are prevalent in the world of Bitcoin. Indeed, one of the most common patterns in cryptos is seeing prices fall and then bounce back up. Liquidity cleansing is a phenomenon that exists not only in Bitcoin but in most financial markets as well. It usually begins when Bitcoin’s large holders, also known as whales, begin transferring most of their Bitcoin to exchanges. This transfer of money is actually called selling pressure. Detecting Selling Pressure in #Bitcoin with CDD Data and Its Impact on Prices“Without breaking this pressure, new uptrends won’t emerge. The last high CDD data in the…

Ethereum emerged as the best-performing cryptocurrency over the past week as its price rose by more than 6% to over $3,300. Notably, blockchain analytical firm Santiment reported that the price increase coincided with a significant drop in transaction fees, which hit its lowest point in six months. Ethereum Gas Fees Hit Six-Month Low Ethereum’s average transaction fee is approximately $1.12, marking its lowest daily average cost since October 18, 2023. The introduction of the Dencun upgrade and the lull in the broader crypto market has resulted in less on-chain activity, driving Ethereum gas fees down. This decline follows a peak…

Notable figures in the XRP community have engaged in intense debate about the role of Ripple’s On-Demand Liquidity (now Ripple Payments) in propelling XRP’s market value. Ripple ODL Cannot Help XRP Price Grow Renowned crypto author Panos Mekras has asserted that Ripple’s XRP-based solution for cross-border payment solutions, no matter how successful, will not inherently impact the price of XRP. Mekras argues that Ripple’s ODL is engineered to be demand-neutral. He highlighted that ODL transactions primarily involve instant buying and selling of XRP, with no inherent demand for XRP originating from ODL itself. When I said that a while ago,…