Author: NBTC

Cryptocurrency analytics firm CryptoQuant suggests that Bitcoin’s March 2024 all-time high is not the market’s final peak. Based on on-chain data, analysts believe that the March peak could be an “initial peak” rather than the final peak of the current bull cycle. According to analysts, a key metric supporting this assessment is Binary Coin Days Destroyed (CDD), which tracks the activity of long-term BTC holders. While there is a noticeable profit-taking by these investors around March 2024, Binary CDD has yet to reach the critical “red zone” that typically signals the end of a bull market. Historically, this level has…

Grayscale’s XRP Trust has achieved an 11.44% NAV growth since its launch, highlighting increasing institutional interest in XRP. In a recent post on X, popular crypto pundit Moses brought to public notice that the net asset value (NAV) of the XRP Trust by Grayscale had surged to $11.77, stressing that it signals strong momentum. Commenters to the post shared a similar sentiment, noting the growth reflecting expanding institutional interest in XRP. Grayscale XRP Trust Sees 11.44% Growth Since Launch Indeed, the trust’s NAV per share has been on the rise since launching last week. At the end of business on…

Ripple co-founder Chris Larsen offered a scathing criticism of U.S. Securities and Exchange Commission Chair Gary Gensler in a recent interview with CNBC, arguing that he is the worst public servant of all time. “I think Gary Gensler has been the worst public servant that we’ve ever had in this country,” he said. Larsen was named as an individual defendant alongside CEO Brad Garlinghouse in the SEC lawsuit that was originally filed in late 2020. The duo was accused of aiding and abetting the alleged securities law violations committed by the enterprise blockchain company. In October 2023, the agency moved…

This week, the centralized exchanges’ record was relatively high in terms of trading volumes, with Binance maintaining a strong lead in this sector. According to the data shared by Phoenix, the weekly trading volume was $90.7 Billion, making Binance dominate the cryptocurrency market. This trend reflects Binance’s strong customer base and diverse trading options, which continue to draw high trading activity. TOP CENTRALIZED EXCHANGES BY WEEKLY TRADING VOLUME #Binance #Cryptocom #Bybit #Coinbase #GateIo #OKX #HTX #MEXC #Upbit pic.twitter.com/bKuFbrspMP — PHOENIX – Crypto News & Analytics (@pnxgrp) October 28, 2024 Crypto.com and Bybit Follow Binance Closely in Weekly Volumes Crypto.com and…

Russian authorities are intensifying a clampdown on home-based crypto miners, with law enforcement in Novosibirsk recently arresting a resident involved in substantial unauthorized mining activities. The arrest comes amid growing scrutiny over energy usage and regulations surrounding cryptocurrency mining in Russia’s Siberian regions. Local law enforcers claim the individual exploited subsidized electricity to power his mining rigs, reportedly generating over 12 million rubles ($123,000) in profits. This marks one of the latest steps in Russia’s bid to regulate and curb unregulated crypto mining, with further restrictions set to come into effect next month. Novosibirsk crypto crackdown In Novosibirsk, a crypto…

In March this year, Bitcoin spiked to an exclusive all-time high price level, initiating a discussion over the ultimate peak of the asset in the present market cycle. Data from CryptoQuant suggests otherwise as the Binary Coin Days Destroyed indicator for tracking holder activity in the long-term label’s March peak as potentially an “initial top” instead of the final one. Was Bitcoin’s ATH in March 2024 the Market Top?“Before we reach the final top, we will likely see renewed activity from long-term holders, with Binary CDD reaching the red zone, signaling the next round of price adjustments.” – By @sachisachanLink…

In a recent development in the Ripple litigation in California, a U.S. District Court Judge issued orders on several motions, bringing further clarity to the ongoing lawsuit in which plaintiffs allege securities law violations by the cryptocurrency company. The parties involved in the XRP lawsuit have scheduled settlement talks as the court prepares for a pretrial conference on Dec. 19 and jury selection on Jan. 21, 2025. Judge Hamilton’s ruling largely favored the plaintiffs, granting orders on four motions under the Daubert rule. The court denied Ripple’s motion to exclude the testimony of plaintiffs’ expert Jeremy Clark, while also denying…

Binance has announced its support for the upcoming network upgrade and hard fork on the Shentu (CTK) network to ensure user security and a seamless trading experience. Starting approximately at 11:00 UTC on October 30, 2024, Binance will temporarily suspend deposits and withdrawals of Shentu (CTK) tokens. This suspension will last until the upgrade is complete and network stability is confirmed. Key Details of the Upgrade and Hard Fork – Upgrade Time: The network upgrade and hard fork will occur when the blockchain reaches block height 20,949,300, approximately at 12:00 UTC on October 30, 2024. – Scope: Although deposits and…

A veteran trader who accurately predicted the May 2021 crypto collapse believes that Bitcoin (BTC) is on the verge of a massive breakout. Pseudonymous trader Dave the Wave shares a chart with his 146,400 followers on the social media platform X that shows Bitcoin may be forming a similar pattern from the last cycle right before an explosive rally. Source: Dave the Wave/X Looking at his monthly chart, the trader suggests that Bitcoin will test a long-term diagonal support that could act as a launch pad for upward price action similar to what occurred in late 2020. The analyst also…

Hong Kong is preparing to introduce policy by the end of the year seeking to extend tax incentives to family offices and private funds investing in crypto on behalf of wealthy clients. Christopher Hui, Hong Kong’s Secretary for Financial Services and the Treasury, said the Special Administrative Region of China wants to ensure it has the “right conducive environment for blockchain, in particular their financial applications.” “We are being asked all the time … what are the incentives … from the government in terms of growing this sector,” Hui said on Sunday during a keynote speech at Hong Kong’s FinTech…