Author: NBTC

PayPal USD (PYUSD) market cap leaped by 150% since its expansion to Solana on May 29, with the stablecoin’s total value now sitting at $684 million, based on DefiLlama data. Notably, the usage of PYUSD is practically evenly distributed between Solana and Ethereum, as both blockchains show 48.32% and 51.68% dominance, respectively. This significant movement by PYUSD within Solana’s DeFi ecosystem could be tied to the incentives campaign among its applications, such as Kamino. PayPal’s stablecoin has the highest annual percentage yield (APY) to be supplied as collateral on the Solana-based money market and the smallest borrow rate. However, despite…

The cryptocurrency market is experiencing increased fluctuations as Bitcoin inches closer to a psychological threshold of $70,000. With rising prices comes the possibility of market shifts. According to a recent tweet from prominent market watcher Ash Crypto, “$1,600,000,000 worth of shorts will get liquidated if Bitcoin hits $70,000.” Short sellers face pressure as Bitcoin’s surge threatens $1.6 billion in liquidations Short sellers borrow BTC to sell at a higher price, expecting it to drop in value so they can repurchase it at a lower price and pocket the difference. However, if the price continues to rise, they face losses and…

Meme coins are at the forefront of a notable crypto market recovery, with Dogecoin (DOGE), Shiba Inu (SHIB), Pepe (PEPE), Dogwifhat (WIF), and Bonk (BONK) all demonstrating significant price rebounds following recent downturns that saw over $1 billion market liquidation. Dogecoin, the most prominent player in the meme coin space, experienced a dip on Monday when its price fell to $0.0856. It has since recovered to approximately $0.1054, an impressive 18% increase from its dip. Similarly, Shiba Inu also saw a decline to $0.00001087 this week but has rebounded by around 30% to $0.000001416 as of this writing. Pepe, another…

A widely followed crypto analyst believes that Bitcoin (BTC) may go on a massive rally and hit six figures after the US presidential election. Pseudonymous crypto trader Kaleo tells his 649,500 followers on the social media platform X that Bitcoin may repeat an end-of-the-year pattern from 2023 and print fresh all-time highs (ATHs). “Overlayed the fractal of last September/October’s price action to this year’s just for fun. It serves as a good reminder that September did mark the bottom of the range and ‘Uptober’ led to a solid shift in momentum higher, but the real fun started at the end…

The Indonesian National Post Office has launched the country’s first Non Fungible Token postage stamp depicting the bird of paradise, Cenderawasih. On Sept. 27, Indonesia‘s National Post Office, Pos Indonesia, launched the country’s first NFT postage stamp to commemorate the 79th anniversary of the Indonesian Post in Bandung, Indonesia. The project is done in partnership with the Indonesian Ministry of Communications and Information. This marks Indonesia’s first time in creating a stamp that utilizes blockchain-based technology for philately enthusiasts around the world to add to their digital collection. The stamp is valued at approximately $9.90 and features the image of…

Cardano and Ethereum, two of the most prominent blockchain platforms, are constantly in the spotlight as the crypto community debates their merits. Bitpanda Global recently conducted a poll asking users to choose their preferred platform between the two. The results have drawn significant attention, particularly due to the involvement of key industry figures. Choose your winner now 🏆#Cardano #Ethereum — Bitpanda (@Bitpanda_global) August 9, 2024 Cardano is known for its secure and scalable approach to developing smart contracts and decentralized applications. It has earned a reputation as a research-driven alternative to Ethereum. Meanwhile, Ethereum has long been the dominant platform…

US ETFs have collectively purchased over 300,000 BTC since their launch, reflecting growing institutional interest in Bitcoin. The introduction of Bitcoin ETFs has expanded investor access to Bitcoin, boosting market stability and institutional participation. Bitcoin ETFs may influence broader crypto adoption, sparking discussions about potential ETFs for other digital assets like Ethereum. Since the introduction of Bitcoin Exchange-Traded Funds (ETFs) in the United States, there has been significant growth in the amount of Bitcoin purchased through these investment vehicles. Recently, reports confirmed that US ETFs have collectively acquired over 300,000 BTC. Notably, this development has had a noticeable impact on…

Bitcoin price started a fresh increase above the $64,750 resistance. BTC is now consolidating near $65,000 and might remain supported. Bitcoin is consolidating gains near the $65,000 zone. The price is trading above $64,200 and the 100 hourly Simple moving average. There is a short-term contracting triangle forming with resistance at $65,250 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could start another increase if there is a clear move above the $65,250 resistance zone. Bitcoin Price Regains Strength Bitcoin price remained supported near the $62,650 level. BTC formed a base and started a…

Based on historical trend patterns, a crypto analyst has forecasted that Bitcoin could hit a staggering peak of $400,000. This ambitious price target would require Bitcoin to jump over 6X its current price, marking a historical milestone, as the cryptocurrency’s market capitalization would surpass $7 trillion. Bitcoin Power Law Points To $400,000 Increase Bitcoin’s price dynamics have been hinting at a potential bullish surge, as the cryptocurrency has steadily maintained a price above crucial resistance levels around $60,000. According to Crypto analyst Ali Martinez, the broader crypto market sentiment shifted to “Greed” again following Bitcoin’s recent price surge to $64,750.…

Sui Name Service in its recent X (formerly twitter) post informed the community that they are going to become a decentralized protocol. Sui Name Service or SuiNS launched on the main net in 2023 has gone through major updates a few months ago. This time, it brought more interesting news for its community. Let’s learn about it. A step towards decentralization Mysten Labs, the company behind Sui, in their blog post shares their vision to make sui name services a decentralized protocol. Announcing one giant step for openness and accessibility…Sui Name Service (SuiNS) will become a decentralized protocol! pic.twitter.com/yjF9Yvb0oL —…