Author: NBTC
Steering through a sea of change in the crypto market, the investment game is experiencing a seismic shift. Spot Bitcoin ETFs already exist, signaling Bitcoin’s leap into mainstream finance and knitting it closer to conventional investment fabrics. We’ll look at the tip of the iceberg trying to imagine its true depth as well as the current correlation between Bitcoin, stocks, and Gold. We’ll attempt to figure out if the traditional market is really leading Bitcoin out of its decentralized place, or if there’s still an avenue for hope that it can maintain its unique path. According to the Kaiko data,…
Ethereum has reclaimed its position as the top-ranking blockchain in non-fungible token (NFT) sales over the past 24 hours, with a 12.06% rise to US$12.47 million, according to CryptoSlam data. The blockchain saw a slight decrease of 5.29% in wash sales on Wednesday, which are typically non-genuine transactions used to inflate volume. This performance has contributed to Ethereum’s all-time sales volume, which now sits at a market-leading US$43.27 billion. Bitcoin, which led the industry in NFT sales each day leading to Wednesday this week, came in second with US$10.9 million. Bitcoin’s performance helped the network reach a new milestone as…
Ethereum price started a recovery wave from the $3,050 zone. ETH is up over 10% and is now struggling to clear the $3,550 resistance zone. Ethereum started a decent recovery wave from the $3,050 zone. The price is trading above $3,350 and the 100-hourly Simple Moving Average. There was a break above a major bearish trend line with resistance at $3,400 on the hourly chart of ETH/USD (data feed via Kraken). The pair could continue to rise if it settles above the $3,550 resistance zone. Ethereum Price Starts Recovery Ethereum price extended its decline below the $3,350 and $3,200 levels,…
Data shows XRP trades for $74 on the Atlantis exchange, where XRP recently secured a listing, but the legitimacy of the platform has become a subject of discussion. Since slumping beneath $1 in December 2021, XRP has maintained a position below that mark. With market analysts predicting imminent price surges above $1 and possibly to a two-digit price, investors have indeed witnessed this phenomenon, albeit not in the expected fashion. Interestingly, XRP has been recording prices way above its actual trading value on a centralized exchange known as Atlantis. This development came up shortly after the cryptocurrency exchange, which claims…
ARK Invest chief executive Cathie Wood says that an explosive Bitcoin (BTC) price surge to $1,500,000 is still in the cards. In a new interview with science and tech entrepreneur Peter Diamandis, Wood says that ARK’s prediction for the flagship digital asset hitting a price tag of $1.5 million by 2027 still has time to play out. According to Wood, institutional investors will increasingly turn their attention toward the crypto king as its path strays away from traditional assets, eventually causing it to skyrocket. “The forecast was, our bull case was $1.5 million in five years, so that would have…
Ethereum is down this week despite recently setting its highest price in over two years, but the market lull didn’t stop someone from spending big on Wednesday: A CryptoPunks NFT was just purchased for more than $16 million worth of ETH. Punk #7804, one of just nine Alien Punks in the influential Ethereum NFT collection, traded hands for 4,850 ETH on Wednesday afternoon, or $16.42 million at the time of the sale. That makes it the second-largest CryptoPunks sale ever whether measured in ETH and USD. The sale comes just weeks after another Alien Punk (#3100) sold for 4,500 ETH,…
Solana-based decentralized exchanges have been busier than their Ethereum counterparts over the past seven days. The meme coin frenzy seems to have catalyzed higher volumes on Solana. Solana also boasts of higher capital efficiency than Ethereum and other chains, according to one research firm. Solana has replaced Ethereum as the No. 1 smart-contract blockchain by trading volume. Trading volume in Solana-based decentralized exchanges (DEX) has increased 67% to $21.3 billion in seven days, data tracked by DeFiLlama show. Volume in Ethereum-based decentralized exchanges rose 3% to $19.4 billion over the same period. There are 17 DEXes on Solana. Orca, the…
Quick Take The Stablecoin Supply Ratio (SSR) created by Glassnode has emerged as a significant factor in analyzing Bitcoin price action. The SSR, a ratio between Bitcoin supply and the supply of stablecoins expressed in BTC, serves as a proxy for the supply/demand dynamics between Bitcoin and USD. This ratio reveals that when it’s low, the current stablecoin supply holds a stronger “buying power” for Bitcoin. Since October 2023, CryptoSlate has observed an interesting correlation between the SSR and Bitcoin’s price. A rise in the SSR was observed on Jan. 29, which corresponded with an increase in Bitcoin’s price to…
Uncategorized Bitcoin Ordinals collection emerged as the top-ranking NFT collection on Wednesday with a 24-hour sales volume of over US$3.42 million despite a 34% drop, according to CryptoSlam. Uncategorized Ordinals refers to digital assets on the Bitcoin blockchain that aren’t officially part of a collection. The assortment of Bitcoin-based digital assets experienced a 12% increase in transactions, totaling 5,955 transactions. Bitcoin collections led the NFT market despite sales for Bored Ape Yacht Club (BAYC), Yuga Labs’ blue-chip collection of 10,000 unique assets, surging by 68% in the past 24 hours to US$1.7 million. Ethereum-based BAYC led the NFT market in…
Binance, a leading cryptocurrency exchange, announced that it plans to suspend deposits and withdrawals of AR tokens starting approximately March 26, 2024 at 16:00, in order to support the upcoming network upgrade and Hard Fork of the Arweave (AR) network. Binance Prepares for Arweave (AR) Network Upgrade and Hard Fork The network upgrade and hard fork is estimated to occur around 17:00 on March 26, 2024, at block height 1,391,330. With its decision to temporarily suspend AR token deposits and withdrawals, Binance aims to facilitate a smooth transition for users during this critical period. Despite the suspension of deposits and…