Author: NBTC

The Hong Kong Monetary Authority (HKMA) has announced the launch of the second phase of its central bank digital currency (CBDC) pilot program, known as e-HKD, according to a Sept. 23 statement. The second phase will delve into advanced use cases for digital money, emphasizing e-HKD and tokenized deposits for individuals and businesses. The first phase focused on testing CBDC applications in domestic retail payments, offline transactions, and the settlement of tokenized assets. The HKMA stated that the initiative has evolved from its original e-HKD focus and is now rebranded as Project e-HKD+ to align with the changing fintech landscape.…

Cronos Labs has announced the alpha mainnet launch of the Cronos zkEVM, marking the first chain to go live using the ZKsync tech stack alongside the Era chain. Cronos zkEVM is a result of a collaboration between Cronos Labs, Matter Labs (a contributor to ZKsync), Crypto.com and a collection of dapp partners. The network has been in testnet since December 2023. The new chain joins the existing Cronos POS and Cronos EVM blockchains, which collectively manage over $6 billion in user assets, according to Cronos Labs. The POS chain was the first, launched in 2021 as a Cosmos appchain developed…

Following an impulsive rally, Bitcoin lost its bullish momentum upon reaching the $70K threshold, indicating the presence of sellers in the market. Nevertheless, considering that the price is hovering above the crucial 100-day MA, the continuation of the consolidation stage seems possible in the short term before initiating the next move. Technical Analysis By Shayan The Daily Chart A detailed analysis of Bitcoin’s daily chart reveals that after decisively breaking above the 100-day moving average of $64.4K, the price continued its upward momentum toward the crucial and psychological resistance zone of $70K. However, upon reaching it, the cryptocurrency lost its…

Ethereum has recently seen a surge in demand near the crucial $2.1K support zone, resulting in a significant bullish retracement. The price has now reclaimed the middle threshold of the multi-month descending channel, suggesting the potential for further gains toward the upper boundary near $3K. By Shayan The Daily Chart On the daily chart, Ethereum experienced increased buying pressure near the critical support region around the lower trendline of the multi-month descending channel, which aligns with the $2.1K support zone. This resurgence in demand triggered a bullish reversal, pushing the price above a critical resistance area that includes the channel’s…

Celestia Foundation, the team behind the Celestia blockchain network, said Monday that it has raised $100 in a fundraising round led by Bain Capital Crypto. The news comes as as Celestia’s native token, TIA, is down 54% since the beginning of 2024, according to CoinMarketCap. Celestia had one of the hottest airdrops of 2023, issuing TIA to 580,000 of its users. The fresh round of capital means that the foundation has a total of $155 million in funds, and saw participation from Syncracy Capital, 1kx, Robot Ventures, Placeholder. The team did not detail what the new capital will be used…

Market data confirms that the growth of Bitcoin since its inception in 2010 amounts to over 81,999,888% return for investors. Kashif Raza, the founder of Bitinning, called public attention to the record in a recent analysis, as this massive increase illustrates Bitcoin’s potential for long-term investors. Raza shared a historical chart from 2010 to 2024, highlighting crucial price milestones and overall growth that reflects Bitcoin’s volatility and substantial returns over time. Crucial Price Milestones Bitcoin’s journey began in 2010 at a mere $0.09. By 2011, it had gained a remarkable 2,960%, reaching $26.9 and then $123 in October 2012. Remarkably,…

Over the past few days, Ethereum (ETH) whales have been relentlessly selling their coins, dampening the market’s momentum. Whale inflow into cryptocurrency exchanges has surged, indicating a strong desire for profit as the coin’s price has skyrocketed by double digits over the past seven days. The spike in selling pressure will likely limit Ethereum’s near-term upside potential. Here is how. Ethereum Whales Take Advantage of Price Hike Ethereum’s price has climbed by 14 % over the past week to trade at $2,644 at press time. However, this rally may face resistance due to recent sell-offs by some large holders, or…

After keeping interest rates steady for more than a year, the Fed finally started a rate-cutting cycle and made its first rate cut last week. As expectations of further cuts increased following the 50 basis point cut, Minneapolis Fed President Neel Kashkari said he expects interest rates to be 4.4% by the end of 2024 and 3.4% by 2025. I Expect Another 50 Basis Point Interest Rate Cut from the FED by the End of 2024! Speaking on CNBC’s Squawk Box, Kashkari said he supports the Fed cutting interest rates by 50 basis points, saying it was “the right decision”…

Institutional developments and remarks from Nashville cast a more bullish outlook for Bitcoin and BTC mining than before, says H.C. Wainwright & Co analysts. Bullish catalysts have lined up for Bitcoin (BTC) and the BTC mining industry as the U.S. may be poised to adopt the leading cryptocurrency nationally, HWC analyst Mike Colonnesse wrote in a weekly report on July 30. Republican candidate and former President Donald Trump outlined his crypto approach at the Bitcoin 2024 conference, including plans to create a government reserve with around $12 billion in BTC. Trump pledged to position America as the world’s undisputed Bitcoin…

In a significant development in the cryptocurrency market, two prominent entities have deposited a total of 8,510 Ethereum ($ETH), valued at approximately $21.9 million, to centralized exchanges (CEXs) within the past few hours, as reported by Spot On Chain. Two major market players, including an Ethereum ICO participant and Genesis Trading’s bankruptcy wallet, deposited 8,510 $ETH ($21.9M) to CEXs in the last 9 hours!👉 #Ethereum ICO whale “0xb8c” sent 3,510 $ETH ($9.04M) to #Kraken again after 3 months. This whale still holds… https://t.co/83vDcHO6Qz pic.twitter.com/bRpdgKGVuH — Spot On Chain (@spotonchain) September 23, 2024 5,000 ETH Transfer from Genesis Wallet Signals Ongoing…