Author: NBTC
In a striking example of the unpredictable nature of the non-fungible token (NFT) market, a Bored Ape Yacht Club NFT previously owned by Kevin Hart, the acclaimed American comedian and actor, was sold for a fraction of its original purchase price. The event not only highlights the volatile investment landscape of digital assets but also serves as a cautionary tale for celebrities and investors alike who venture into the NFT space. Celebrity investments turn sour Kevin Hart’s engagement with the NFT world made waves in January 2022 when he acquired Bored Ape Yacht Club #9258, a digital asset featuring an…
A widely followed crypto analyst is warning that Ethereum (ETH) could collapse in value after failing to hold a key level. In the latest edition of the trader’s altcoin newsletter, pseudonymous crypto trader Rekt Capital warns that Ethereum could dip below $3,000 based on historical precedence. “Ethereum is in a complicated spot. Because it has rejected from the green $3,956 resistance, similarly as in the past (red circles).” Source: Rekt Capital/Altcoin Newsletter The trader believes that Ethereum needs to hold the level around $3,342 or it could move down much further to the $2,700 level. “A weekly close below the…
Top crypto analytical platforms CoinCodex and Telegaon release predictions regarding when the Shiba Inu ecosystem token Bone ShibaSwap (BONE) would hit $2.20. BONE, the governance token of the Shiba Inu ecosystem and official gas token of Shibarium, gained the crypto community’s attention this week after its price spiked 26% to $1.09 on March 18. Following its Monday rally, famous analyst $SHIB Knight projected that the asset would “pump more” and possibly reach the coveted price of $3. However, some analysts believe that BONE would need to breach the $2.20 resistance before making its way to the $3 threshold. Meanwhile, BONE…
Grayscale Investments lost $8.4 billion from the Grayscale Bitcoin Trust (GBTC) since converting it to an exchange-traded fund (ETF) on January 11, 2024. The outflows come as investors eye new products from banks and other financial institutions. Yesterday’s outflows from the GBTC fund totaled almost $600 million, making February 29 the second largest day of outflows since the US Securities and Exchange Commission approved the ETF. Net outflows from the Grayscale fund now total approximately $8.4 billion. Grayscale GBTC Records Outflows as Competition Heats Up The outflows from Grayscale coincide with increased demand for exchange-traded products from other providers. While…
According to Mai Fujimoto, a Japanese crypto influencer and co-founder of Intmax, the Ethereum Improvement Proposal (EIP) 4844 – also known as proto-danksharding – have emerged as a solid solution for addressing the Ethereum network’s scalability challenges. The EIP 4844 is also significant for scaling solutions such as zero-knowledge rollups (zkrollups) and Layer 2 chains like Optimistic because it reduces the storage task of nodes and lowers the fees. ‘Layer 1 Middle Ground’ In her responses to Bitcoin.com News, Fujimoto said she also views proto-danksharding as a “Layer 1 middle ground.” From being a large block in the short term,…
XRPL launches AMM feature, boosting liquidity and passive income opportunities. Ripple anticipates XRP adoption surge and enhanced ecosystem functionality. XRP community expects parabolic price increase following AMM activation. The XRP Ledger (XRPL) is gearing up for a significant milestone as it prepares to activate its Automated Market Maker (AMM) feature on March 21st, 2024. This development holds several implications for the XRP ecosystem. $XRP The XRPL is expected to activate its Automated Market Maker (AMM) feature tomorrow, March 21st, 2024. This is significant for a few reasons:Increased Liquidity: AMMs allow for decentralized trading of XRP and other assets on the…
The leading cryptocurrency, Bitcoin, failed to stay here while it pinned above $64,000 with the tremendous rise it experienced during the week. While it remains a matter of curiosity whether the rise in BTC will continue or not, all eyes are on Bitcoin and Ethereum options that will expire today. According to the news of Singapore-based crypto options data platform Greeks.live, 19,000 BTC and 110,000 ETH options will expire on March 1. Accordingly, while the Put/Call Ratio of BTC options is 1.49, the maximum loss point is $55,000 and the notional value is $2 billion. Looking at Ethereum, ETH options…
An Ethereum initial coin offering (ICO) participant who has been dormant for nearly nine years has transferred a whopping 2,000 ETH out of their wallet. This sum is currently valued at approximately $6.7 million, according to blockchain sleuth Lookonchain. At press time, the price of the second-largest cryptocurrency is sitting at $3,354 on major spot exchanges. Similar transfers This event is not isolated. Several other Ethereum ICO participants have reemerged after years of dormancy to move their ETH holdings. For instance, on Feb. 20, another participant deposited 1,732 ETH to Kraken following Ethereum’s price surge past $3,000. Earlier, on Nov.…
The number of XRP holders on the Coreum network has skyrocketed by 2,287% less than two days after the two-way bridge between the XRP Ledger (XRPL) and Coreum launched. Blockchain interoperability remains one of the most prevalent issues in the broader crypto ecosystem. Amid the concerns and risks associated with transferring value between two chains, the Coreum team has come up with a way to bolster interoperability with the XRPL. XRPL-Coreum Bridge Now Open to the Public They disclosed in a recent post on X that the XRPL-Coreum bridge is finally operational on the native Sologenic decentralized exchange (DEX), with…
In a seismic shift that reverberated through the crypto sphere today, a colossal transfer of 10,000 BTC, equivalent to a staggering $621 million, shook the foundations of major exchange Coincheck. The mammoth transaction, detected by Whale Alert, saw the massive volume move to the address “bc1q4j,” a familiar destination with a history of 52 previous transactions. Such substantial withdrawals from exchanges often signify strategic accumulation or the transfer of assets to separate wallets, hinting at bullish sentiments among investors. Conversely, movements of tokens toward exchanges typically suggest a readiness to sell. 🍕 🍕 🍕 🍕 🍕 🍕 🍕 🍕 🍕…