Author: NBTC

The on-chain analytics firm Glassnode has explained that Bitcoin tends to reach a potential top when the long-term holders show this pattern. Bitcoin Long-Term Holders Have Been Ramping Up Distribution In a new report, Glassnode discussed the influence that the BTC long-term holders have on the cryptocurrency’s supply dynamics. The “long-term holders” (LTHs) here refer to the Bitcoin investors who have been holding onto their coins for more than 155 days. The LTHs comprise one of the two main divisions of the BTC user base based on holding time, with the other cohort known as the “short-term holders” (STHs). Historically,…

In a bold move that has caught the attention of the cryptocurrency market, Michael Novogratz’s Galaxy Digital Holdings has made a significant purchase of 6,000 ETH worth $19.8 million. This acquisition comes amid a backdrop of increasing institutional interest in Ethereum, indicating a growing recognition of its potential. The purchase also comes at a time when Ethereum’s price has experienced a notable drop, a factor that did not deter the investment firm from capitalizing on the opportunity. Besides Galaxy Digital, Asia-based blockchain-focused venture capital firm Fenbushi Capital has also snapped up a sizable quantity of ETH: 5,207.4 ETH worth $17.2…

South Korea will participate in a collaborative project involving central banks and commercial lenders from seven economies that seeks to explore the tokenization of cross-border payments. Along with the Bank for International Settlements (BIS), this initiative marks a significant milestone for Korea, highlighting the country’s efforts in the development of a central bank digital currency (CBDC). According to a report by TheKoreaTimes, the inclusion of Korea in this global financial endeavor could open up new opportunities for its private financial and business entities in the digital finance space, particularly in trade financing. The project, which includes central banks from five…

Introduction of USDM Stablecoin The USDM stablecoin will initially roll out in 19 US states, providing users with a seamless fiat on-ramp to the Cardano ecosystem. USDM will function as a fungible native asset on the Cardano blockchain, issued under the official policy ID(s) of Mehen Finance LLC. Mehen Finance, the issuer of USDM, adheres to stringent KYC/AML policies, ensuring compliance with all relevant US laws and regulations. Mehen Finance prioritises regulatory compliance, including OFAC sanctions, Bank Secrecy Act reporting, and anti-financial crime statutes at both federal and state levels. Through robust identity verification procedures and third-party services, Mehen safeguards…

The arrival of the Saga mainnet appears imminent,and the SAGA token itself has a listing date. That’s thanks to massive crypto exchange Binance, which announced a Binance Launchpool program to reward customers with SAGA tokens for staking other coins—and half of the initial circulating supply will be offered up through the promo. Binance will list the SAGA token on April 9, and up until that point, Binance customers can stake Binance Coin (BNB) or the FDUSD stablecoin into rewards pools via the Launchpool website to earn a share of tokens upon launch. SAGA will have an initial circulating supply of…

Bitcoin traders are preparing for a potential extended decline in the token’s price, with options data suggesting a bearish outlook in the near term, according to crypto options exchange Deribit. The volume of Bitcoin put options expiring on March 29 has exceeded call options in the past 24 hours. This shift in the put-to-call ratio, a key indicator of market sentiment, signals that traders are bracing for a potential drop in Bitcoin’s price. The strike prices of these put options are clustered around $50,000 and $45,000 on the platform, while Bitcoin traded at around $63,500 on Friday. David Lawant, head…

The U.S. Securities and Exchange Commission has opened the window for comments on three ether spot exchange traded fund (ETF) proposals. The ETF efforts tied to Grayscale Investments, Fidelity and Bitwise will be subjected to a three-week comment period, according to notices posted Tuesday by the agency “to solicit comments on the proposed rule change from interested persons.” Despite rising hopes after the agency’s approval of bitcoin spot ETFs in January, industry analysts have become less optimistic that the regulator will follow suit with the products tracking Ethereum’s (ETH). The commission had been pressured into abandoning its earlier opposition of…

Effective Ventures Foundation, a UK-based charity that received $26.8 million in donations from FTX, is reportedly shutting down. The charity was reportedly set up to invest in projects centered on effective altruism, a philosophy dedicated to solving various societal problems through investment and charity. The Telegraph reported last week that accounts filed by Effective Ventures UK reveal it is “expected that [Effective Ventures UK] will eventually wind down (in 2025 or beyond).” The accounts also reveal the charity will no longer sponsor new projects and delegate current projects to other initiatives. Read more: FTX-funded charity Effective Ventures agrees to return…

On March 13, Elon MUSK spoke with visitors at the Berlin-Brandenburg Gigafactory, an electric car manufacturing plant that opened in the spring of 2022. One of the event visitors asked Musk if it would be possible to buy a Tesla with Dogecoin in the near future. Musk responded positively to the request, saying that it should be implemented at some point. Musk’s reaction sparked enthusiasm among investors and the market price of the token rose sharply. Dogecoin reacted with a jump from $0.172 to $0.188 at the time of writing with an increase of 9.3%. Starting in 2022, Tesla accepts…

Cryptocurrency analyst Kevin Svenson is forecasting the path forward for Bitcoin (BTC) over the coming weeks and months. In a new video, Svenson tells his 73,700 YouTube subscribers that higher levels of volatility will ensue if and when Bitcoin surges by nearly 40% from the current level. According to Svenson, once Bitcoin confirms the fourth stage of the parabolic curve pattern on the weekly chart, the levels of volatility will rise. In technical analysis, a parabolic curve pattern has four stages with the fourth phase becoming the launching pad for a breakout towards a higher level that is typically known…