Author: NBTC

The 50-day moving average (50 MA) crossing above the 200 MA is known as a golden cross in trading, and it frequently causes traders to become slightly more excited than they should probably be. Golden crosses are typically used to indicate bullish momentum and a possible rally. However, there is somewhat of a disagreement now regarding the indicator’s significance, particularly given how erratic the cryptocurrency market is. Golden crosses have not always resulted in long-term bullish trends for Bitcoin in the past. The fact that a golden cross is a lagging indicator must be understood even though it does occasionally…

Ethena Labs integrates sUSDe into Aave, enabling billions in stablecoin borrowing and 30% APY exposure. Ethena proposes Solana and staking derivatives as USDe-backed assets to boost scalability and collateral diversity. Ethena Labs has reported a key milestone with the seamless integration of sUSDe into Aave. By means of this integration, sUSDe can act as collateral on the Ethereum mainnet and Lido instance, therefore enabling borrowing billions of stablecoins against sUSDe. Ethena Labs claims that this breakthrough makes sUSDe a special value in the Aave ecosystem, especially with its outstanding APY of about 30% this week, which is the highest APY…

Ethereum price started a downside correction below the $3,250 zone. ETH is now consolidating near $3,000 and might attempt a fresh increase. Ethereum started a short-term downside correction below the $3,250 zone. The price is trading above $3,200 and the 100-hourly Simple Moving Average. There is a connecting bearish trend line forming with resistance at $3,185 on the hourly chart of ETH/USD (data feed via Kraken). The pair could start a fresh increase if it remains stable above the $3,000 zone. Ethereum Price Hits Support Ethereum price failed to extend gains above the $3,450 zone and started a downside correction…

H.C. Wainwright & Co. analysts reiterated their “Buy” rating on Bitcoin mining company Bitfarms. This rating follows a 15% decline in the stock price after Bitfarms announced delays to its year-end 2024 expansion targets, according to a note shared with crypto.news. While Bitfarms reported positive third-quarter results with revenue growth of 8% to $44.9 million, the company announced it would delay its hash rate goal—measuring its computing power in Bitcoin (BTC) mining — of 21 exahashes per second (EH/s) from late 2024 to early 2025. It also withdrew its 2025 hash rate projection of 35 EH/s, citing logistical setbacks. Management…

For the second day running, meme cryptocurrencies are the top performers among the 100 largest cryptocurrencies. Dogecoin (DOGE) and Shiba Inu (SHIB), the two largest meme coins, managed to reach massive market cap milestones despite crypto benchmarks being in the red. Dogecoin (DOGE) outperforms all cryptos, SHIB and POPCAT following The oldest meme crypto, Dogecoin (DOGE), is the fastest-growing cryptocurrency in the top 100 today, Nov. 5, 2024. In the last 24 hours, it added 7.8%. Its market capitalization exceeds $25.02 billion, according to CoinGecko tracker’s statistics. Shiba Inu (SHIB), the second-largest meme crypto, is also on the top gainers’…

Hive Mining, a data center and crypto mining company, gave an update on the construction of a Paraguayan bitcoin mega mining site that will host 100MW of mining hardware. The company also revealed a purchase of nearly $20 million in mining ASICs to revamp its current equipment. Hive Doubles Down on Paraguayan Mining Bet, Announces $20 Million ASIC Investment Hive, an artificial intelligence and bitcoin mining company, has recently revealed that it has commenced work on a previously announced site in Paraguay. It will also revamp part of its mining hardware. For this, Hive revealed an investment of nearly $20…

MicroStrategy’s almost 300% premium to its bitcoin holdings is unsustainable, the report said. The positive effects of the company’s recent stock split are wearing off and the launch of options on spot bitcoin ETFs will also lessen demand, Steno said. The report noted that during the 2021 crypto bull market MicroStrategy’s premium hovered below 200%. MicroStrategy’s (MSTR) current premium relative to its bitcoin (BTC) stack is unlikely to last, Steno Research said in a report Friday. “This conviction is reinforced by the diminishing effects of MicroStrategy’s recent stock split,” analyst Mads Eberhardt wrote, adding that the launch of options on…

Ethereum price today: $3,110 Ethereum ETFs recorded six consecutive days of positive flows after posting net inflows of $146.9 million on Thursday. Investors have unstaked over $300 million worth of ETH in the past 48 hours. Ethereum could rally to $4,522 if the inverted head and shoulders pattern develops. Ethereum (ETH) is down over 1% on Thursday following record net inflows across ETH exchange-traded funds (ETF) in the past six days. Despite the bullish market outlook, $300 million worth of unstaked ETH could hit the market and cause downward pressure on prices. Ethereum investors display mixed on-chain behavior Ethereum ETFs…

The London-based stablecoin startup BVNK is exploring a new funding round, aiming to raise $50 million, as investor appetite for the sector grows. Stablecoin payments firm BVNK is said to be in early discussions to raise at least $50 million in a new funding round, Bloomberg has learned, citing sources familiar with the matter. Founded in 2021 by Donald Jackson and Jesse Hemson-Struthers, BVNK previously secured $40 million in Series A funding. That funding valued the firm at $340 million post-money. The round was led by Tiger Global, with participation from The Raba Partnership, Avenir, Kingsway Capital, and others. You…

Unusual activity on the crypto market continues today, with the sudden withdrawal of 1.586 billion XRP from the floor of one of Korea’s largest exchanges, Bithumb. According to reports from Whale Alert, 586.09 million XRP, equivalent to $296.95 million, first left Bithumb in an unknown direction. The first transfer was made to address “rPyCQ,” which was just created yesterday. This transfer is the largest in the series, as the other two were 200 million XRP and just shy of that mark, for a total value of $202.76 million. The last one was worth 600 million XRP. All of these withdrawals…