Author: NBTC
The Bitcoin (BTC) price reached a new yearly high yesterday but fell slightly today. The price broke out from a long-term horizontal resistance area, the final one before the all-time high price. Bitcoin Moves Above Resistance The technical analysis of the weekly time frame shows the BTC price has increased since the start of 2023, accelerating its rate of increase in October. In January 2024, the price reached a high of $48,970 but was rejected, creating a bearish candlestick (red icon). The rejection validated a horizontal and Fib resistance level. However, BTC has regained its footing in the past four…
The systemic risk underlying the Curve Finance protocol has not been fully addressed, and the protocol faces “another stress test” in February, according to a January 8 report from anonymous cryptocurrency investment analyst and X user DeFi Made Here. According to the report, a large number of Curve (CRV) tokens will become available for trading in the coming weeks, and the sale of these tokens could lead to a similar situation that occurred in August, when the CRV token was in danger of collapsing in price. However, DeFi Made Here also cautioned that this scenario is only a possibility. According…
A mysterious message was inscribed on the Bitcoin blockchain on Sunday—and the riddle held within has Bitcoiners eager to figure out the meaning in case there’s a hidden tease about a hot new Ordinals art project. “10,000 sats, side by side,” the message found in Ordinals inscription 55,365,041 reads. “A single UTXO, untouched inside. Born together, cursed at heart. Built with code, Bitcoin Art.” The message was followed by a string of numbers 391481082118 – 391481092117. In cryptocurrency, Unspent Transaction Output (UTXO) refers to the amount of that currency, in this case, Bitcoin, that remains after a transaction. The unspent…
Ethereum price gained traction and climbed above $2,350. ETH is now showing positive signs and might extend gains toward the $2,500 level. Ethereum is gaining bullish momentum above the $2,350 zone. The price is trading above $2,320 and the 100-hourly Simple Moving Average. There was a break above a key rising channel forming with resistance near $2,350 on the hourly chart of ETH/USD (data feed via Kraken). The pair might correct lower, but dips could be limited below the $2,335 support zone. Ethereum Price Turns Green Ethereum price formed a base above the $2,220 level and started a decent increase.…
The Federal Reserve is ending its enforcement action into the Sam Bankman-Fried linked Farmington Bank. The announcement came after the Fed said that the Bank had wound down operations and “no longer functions as a bank.” “The Board’s enforcement action, which has been in effect since July 2023, ensured the bank’s operations would wind down in a manner that protected the bank’s depositors,” a press release said. When the Fed announced in August that it had taken action against Farmington, it said Farmington had “improperly” changed its business model and failed to inform the central bank. It also named FBH…
Litecoin (LTC) mining stats have been impressive after taking a hit following the 2023 halving event. LTC prices have failed to show equal performance with the “digital silver” failing to inspire confidence among investors. Litcoin (LTC) mining difficulty has impressed in recent weeks, a clear indication of the network’s health, stability, and security. Analysis reveals that Litecoin difficulty increased by 8.4% over the last week and over 20% YTD. This marks an all-time high for one of the largest proof-of-work (PoW) networks. The spike coincides with a surge in network hash rate which recently peaked at 1.03 PetaHashes per second…
The spot Bitcoin ETF market has broken a new record as total net flows topped $4.69 billion. Since the spot Bitcoin ETF market emerged over a month ago, it has recorded consistent growth in its cumulative net flow. Per data from Crypto.com Research & Insights, the combined Spot Bitcoin ETFs recorded $477 million worth of inflows as of February 15. The inflow comes at a time when the price of Bitcoin (BTC) soared to its highest level for the year as it jumped to a high of $52,820.07 after amassing more than 10.87% in the past seven days. The trading…
GameStop has given up on NFTs. Less than three years after first hinting at its interest in NFTs, GameStop is ditching its NFT marketplace. The game retailer, which began as a U.S.-based brick-and-mortar operation back in 1984, has recently struggled to maintain a profitable business. GameStop was profitable for the first time in years in late 2022, but this followed company-wide layoffs and a corporate exit from some European countries. Here’s a look into the rise—and fall—of GameStop’s NFT plans. April 2021: GameStop seeks a blockchain analyst Back in April 2021, a GameStop job listing for a blockchain security analyst…
The United States Securities and Exchange Commission (SEC) has postponed its decision on approving an Ethereum exchange-traded fund (ETF) for Invesco and Galaxy. The SEC seeks additional public feedback on integrating Coinbase’s surveillance program with Ethereum ETFs. Invesco Galaxy Spot Ethereum ETF Decision Delayed In a recent filing, the US SEC poses numerous questions to the public regarding spot Ethereum ETFs, specifically concerning Invesco Galaxy’s application, while also delaying the application. The application decision has been pushed back a further 35 days for enough time for public feedback to go through. “The Commission requests that interested persons provide written submissions…
The Polish town of Mińsk Mazowiecki is launching a stablecoin that users can spend at local businesses. The so-called MinsCoin debuted alongside UrbanChange, a platform that launches USDC-backed stablecoins meant for local use in cities. MinsCoin will offer a new method for people to engage with local businesses and community projects. The community-level digital currency in Mińsk Mazowiecki could provide insights into how such technologies can impact social interactions, economic participation and community solidarity. UrbanChange co-founder Michael Mazur told Blockworks that up to 10 businesses in Mińsk Mazowiecki would support MinsCoin at launch, and he expects “many more” to join…