Author: NBTC
The crypto world watches with bated breath as BTC continues to hover around $68,000 to the dollar, below its all-time US high of $69,000. Invezz spoke to Rania Gule Market Analyst at XS.com on what will likely happen next. Edited excerpts: How likely is Bitcoin to reach or surpass $69,000 this week? The new rise [to] the highest level since November 2021, confirms the strength of the upward trend, despite negative technical signals indicating the price reaching overbought conditions. After breaking above the April 2021 level at $64,821, the price will inevitably target the higher record level of November 2021…
An investor who accurately called Bitcoin’s (BTC) 2022 bear market bottom says he’s extremely bullish on one smart contract protocol. Venture capitalist and crypto investor Chris Burniske tells his 285,400 followers on the social media platform X that Ethereum (ETH) has cemented its status as a “credible settlement layer for crypto assets.” According to Burniske, other layer-1 protocols such as Solana (SOL) and Avalanche (AVAX) are at a point where they’re contending to reach Ethereum’s level. “Despite being most vocal about SOL in the last bear given its distressed levels, and the already known problems being highlighted regarding Ethereum UX…
One day, the Donald Trump-themed MAGA coin, which surged nearly 400% over the last month according to CoinGecko data, and boasts a market cap of over $285 million, might enter the meme coin hall of fame alongside the category’s canine icons. “My intention is really to have this up there with a DOGE or SHIB, that kind of scale and market cap and popularity,” the project’s marketing director, YouTube talk show host Steven Steele, said in an interview with CoinDesk. It might sound absurd, but this is crypto. Remember, those two dog-themed meme coins have market caps well into the…
Financial institutions have reported $165 million in potential crypto transactions that may be tied to Hamas, according to the bureau of the U.S. Treasury department that combats terrorism financing. The Financial Crimes Enforcement Network analyzed suspicious activity reports filed between January 2020 and October 2023, according to a letter signed by Deputy Treasury Secretary Adewale Adeyemo. The letter, reviewed by CoinDesk, was directed to the leaders of the Senate Banking and House Financial Services Committees and asked for their support in passing legislation that would broaden the Treasury Department’s oversight authority over crypto transactions. The letter hedges the extent to…
The Market Value to Realized Value (MVRV) ratio, a popular indicator used to gauge the profit and loss of Bitcoin (BTC) holders, has reached a critical threshold that has historically been a precursor to significant price corrections. Crypto analyst Ali Martinez brought attention to this trend through a tweet, warning that the Bitcoin MVRV indicator has climbed to 19.57%. #Bitcoin MVRV indicator is at 19.57% right now! Since February 2021, each time it crossed the 18% threshold, $BTC price plunged by 24% to 55%. Traders should monitor this trend as it anticipates a steep price correction! pic.twitter.com/kj3ysZPC46 — Ali (@ali_charts)…
Despite the most recent retracements in the crypto markets, the overall trend in the past several months has been quite bullish, leading to a new all-time high for Bitcoin and a multi-year peak for Ethereum. Consequently, their market capitalizations increased as well a lot lately and that made them some of the largest financial assets by that metric. But where exactly does Ethereum stack up? ETH in the Top 25 CryptoPotato frequently reported Bitcoin’s progress as the asset entered the top 10 financial assets in February by surpassing Warren Buffett’s Berkshire Hathaway. A few weeks down the line, BTC’s market…
Uniswap, an Ethereum-based decentralized exchange (DEX), stands at the brink of a transformative shift in the decentralized finance (DeFi) sector. A new governance proposal seeks to redirect protocol fees to UNI token holders, marking a significant stride in democratizing the network. Uniswap Community Supports New Proposal Snapshot voting indicates overwhelming community backing for the fee reward proposal, slated to conclude by March 7. The proposal entails upgrading the UniswapV3Factory contract and empowering seamless and programmatic collection of protocol fee revenue. This strategic move aims to fortify the governance framework, endowing UNI token holders with heightened influence over decision-making processes. “Specifically,…
Two Binance executives, Tigran Gambaryan and Nadeem Anjarwalla, will remain in Nigerian custody at least until a hearing on March 20. The men were arrested on Feb. 26 after flying to Abuja to meet with the Nigerian government at the government’s invitation. The country is experiencing a foreign exchange crisis and has accused Binance of contributing to the crash of its currency, the naira. Two senior Binance executives will remain detained in Nigeria at least through a March 20 hearing, according to a Wednesday report from the Wall Street Journal. The two men – American citizen Tigran Gambaryan, Binance’s head…
Major coffee retailer Starbucks said on Friday afternoon it will be ending its NFT-enabled customer loyalty program, dubbed Odyssey. The program will close on the last day of March. “The Starbucks Odyssey Beta must come to an end to prepare for what comes next as we continue to evolve the program,” Starbucks said in an update to the program’s FAQ page. The NFTs customers could earn through Odyssey, called Stamps, will be transferred to the NFT platform Nifty Gateway, where they can continue to be bought and sold, Starbucks added. It’s the latest in a growing trend of non-crypto companies…
Volume of futures tracking meme coins continued to rise massively on Saturday as bets against non-serious tokens lost a cumulative $50 million in the past 24 hours, a sign of irrational exuberance. Data from Coinglass shows shorts, or bets against, on dogecoin, shiba inu, pepe, floki and bonk saw over $50 million in liquidations in the past 24 hours, contributing to price surge among these tokens. Liquidation refers to when an exchange forcefully closes a trader’s leveraged position due to a partial or total loss of the trader’s initial margin. It happens when a trader is unable to meet the…