Author: NBTC

Stuard Alderoty, Ripple’s chief legal officer, recently took to the X social media platform to praise Rep. Ritchie Torres (D-NY) for showcasing his pro-crypto stance during a recent congressional hearing. The congressman took issue with the SEC’s usage of the controversial term “crypto asset security.” Daniel Gallagher, chief legal officer at Robinhood, has clarified that he does not know any statutes enacted by Congress that mention the term in question. “They certainly created it,” Gallagher said in response to a question about whether or not the SEC invented the term out of thin air. While commenting on this exchange, Alderoty…

Bitcoin’s price actions took a violent turn from yesterday’s quietness as the asset plunged by more than three and a half grand to $63,300. The alternative coins have followed suit, and the total value of liquidated positions has skyrocketed to almost $230 million on a daily scale. The start of the business week was quite positive for the primary cryptocurrency as the bulls drove it to its highest price tag since early June of $70,000. However, the asset had little luck there and was quickly rejected. The retracement drove it south hard, and BTC found itself slipping under $65,500. It…

Ethereum price started a fresh upward move above the $2,420 resistance. ETH traded close to $2,500 and is now consolidating gains. Ethereum started another increase from the $2,320 resistance. The price is trading above $2,400 and the 100-hourly Simple Moving Average. There is a connecting bullish trend line forming with support at $2,385 on the hourly chart of ETH/USD (data feed via Kraken). The pair must clear the $2,480 resistance to continue higher in the near term. Ethereum Price Surges Over 8% Ethereum price remained well-supported and extended its increase, beating Bitcoin. ETH was able to clear the $2,350 and…

After the Fed’s announcement of a 50 basis point interest rate cut, which surprised Wall Street banks, Fed Chairman Jerome Powell held a press conference and answered questions. The majority of Wall Street banks had forecast a 25 basis point cut in the interest rate decision. Here are the most important sections from Jerome Powell’s statements: We focus entirely on our goals. The overall economy is strong and we are committed to maintaining strong economic growth. The economy is generally strong. Our decision today reflects growing confidence that labor market strength can be maintained. The labor market has begun to…

The United States government holds a substantial amount of Shiba Inu (SHIB). Shiba Inu (SHIB) has continued to gain widespread popularity, attracting the interest of retail and institutional clients. U.S. Government SHIB Holding Besides retail and institutional investors, the United States government also holds a significant amount of SHIB in its blockchain wallet. According to data from Arkham Intelligence, the U.S. government holds 54,897,000,000 (54.89 billion) SHIB tokens. Notably, the blockchain wallet affiliated with the U.S. government holds more than 100 digital assets worth $12.43 billion at the time of writing. Out of the total crypto holdings in the wallet,…

On the 31st of July, Bitcoin ETFs experienced huge inflows while Ethereum ETFs went through significant outflows. Lookonchain, a well-known on-chain analytics firm, noted that Bitcoin ETFs saw a cumulative inflow of up to $7.48M with Ethereum witnessing outflows of $51.94M worth. The analytics platform took to its official social media account to provide details of ETF flows. July 31 Update:9 #Bitcoin ETFsNetFlow: +113 $BTC(+$7.48M)🟢#iShares(Blackrock) inflows 1,138 $BTC($75.27M) and currently holds 342,659 $BTC($22.66B).#Grayscale moved 26,936 $BTC($1.78B) to Grayscale Bitcoin Mini Trust today.9 #Ethereum ETFsNetFlow: -15,691… pic.twitter.com/rUrRZMJjZt — Lookonchain (@lookonchain) July 31, 2024 BTC ETFs See Substantial Inflows While ETH ETFs…

Ether’s recent underperformance may be over, Steno Research said in a report. The report noted that in the last bull market, during altcoin season, ether more than doubled in value compared to bitcoin. The U.S. Federal Reserve’s interest rate cut will result in more onchain activity, which will benefit Ethereum. Ether’s (ETH) recent bout of underperformance may be over and the world’s second largest cryptocurrency could be ready to shine again, both in fiat terms and relative to bitcoin (BTC), Steno Research said in a report on Thursday. The native token of the Ethereum blockchain has risen nearly 8% year-to-date,…

Following the Fed’s 50 basis point rate cut and the subsequent press conference by Fed Chair Jerome Powell, economists and analysts had mixed reactions to the move. Brad Bechtel, Jefferies’ global head of foreign exchange, said the Fed’s decision came as a surprise to much of the market. “Expectations were split about 50/50 ahead of the decision,” Bechtel said. “The Fed is trying to head off a recession, but the market response has been lukewarm so far. Much of that reaction was already priced in.” Powell’s comments at the press conference reinforced the perception that he personally favors a larger…

XRP optimists forecast a potential surge for the altcoin, possibly pushing its price to a new all-time high (ATH) if the SEC approves an XRP ETF, among other factors. The likelihood of an XRP ETF significantly increased following the conclusion of the long-running case between Ripple and the SEC, with Judge Analisa Torres ruling XRP is not a security. Tradingview’s data shows XRP’s price surged 30% following the judgment but has since consolidated, pulling back to the $0.56 region after reaching a $0.64 local high. Notably, XRP’s recent price pullback coincided with a significant drop in the decentralized finance (DeFi)…

The Capital Markets Board (CMB) has announced a significant set of regulations in the cryptocurrency space. These regulations entered into force with the amendments made to the Capital Markets Law No. 7518 and were announced in line with the framework determined by the Temporary Article 11 added to the Capital Markets Law No. 6362. The new regulations cover a wide range from the operation of crypto asset platforms to the protection of customer rights. Basic Regulations and Principles According to the CMB’s announcement, the following principles were introduced in order to eliminate various application differences encountered in the activities of…