Author: NBTC

The $2,400 Maxpain for ETH options reveals the possibility of Ethereum’s price being pulled down towards that level as expiration nears. This is a bearish market since the Put Call Ratio is at 0.73, and a preference for call options usually indicates that investor expectations are positive. Thus, the expiration of 127,000 ETH options, valued at $298 million, will be a crucial event in the crypto derivatives market. A large expiration event has occurred in the Ethereum (ETH) options market, where over 127K ETH options with a total notional value of nearly $300 million are set to expire. This considerable…

Ripple’s stablecoin Ripple USD (RLUSD) is making progress in its beta testing on Ethereum and the XRP Ledger (XRPL). Ripple issued 185 RLUSD at 21:38 UTC as part of its beta testing, causing a stir among community members. This marks the first time that Ripple has officially issued 185 RLUSD during its beta testing. The transaction has raised questions about transaction fees and the role XRP will play in relation to RLUSD. Vet on the X social network responded that transaction fees are minimal and that the greater benefit RLUSD brings is in improving the XRPL ecosystem rather than speculating…

Binance Charity will airdrop up to $1M in BNB to registered Binance users in Vietnam that were identified as living in the areas affected by Typhoon Yagi. Affected users will be identified on the basis of their POA (proof-of-address) information. For the airdrop to be valid, they should be staying in one of the 25 cities in Northern Vietnam that has been impacted by the Typhoon. As per the official statement, “Users who have completed POA before September 10, 2024, in these 25 cities will receive $50 worth of BNB directly to their Binance accounts.” Moreover, if affected users might…

The cryptocurrency market is experiencing one of its strongest sell-offs in months today (Monday), testing levels not seen since the beginning of 2024. Bitcoin (BTC) has shed 25% of its total value in just 4 days, shrinking by $320 billion. The rest of the cryptocurrency market lost practically the same amount. Bitcoin’s price is falling by nearly 14% during Monday’s session, testing levels below the psychological support of $50,000. This is BTC’s lowest price point since February and marks the fourth day of very strong selling pressure. In total, the price has contracted by 25%, or about $16,000. In dollar…

Ethereum faces sustained bearish pressure with declining market volume and volatility. Whales steadily accumulate ETH, indicating long-term bullish expectations. Ethereum, the leading altcoin, has experienced a sustained bearish trend, with a 14% decline in the past month. Currently trading at $2,353, the cryptocurrency saw a modest dip of 0.31% over the past 24 hours, while its trading volume plummeted by 30%. This comes with the overall market volume dropping by 19%. According to Greeks.live, 127,000 ETH options are set to expire, with a Put Call Ratio of 0.73, a Max Pain point at $2,400, and a notional value of $298…

Mercado Pago, the digital banking arm of Latin America’s largest e-commerce company Mercado Libre (MELI), said on Wednesday that it is introducing a US dollar-pegged stablecoin in Brazil. The company said that Mercado Pago users in Brazil will be able to buy and sell the Meli Dollar stablecoin using their Brazilian real account balances, without paying any fees. The product, the firm said, aims to provide a practical and stable option for managing finances. In August 2022, Mercado Libre launched its Mercado Coin cryptocurrency to allow users to make purchases on the marketplace and earn cash back. Prior to that,…

Crypto exchange WazirX, one of the most famous among Indian crypto exchanges, has reported crucial data on the current restructuring process via an email to its users. The email sheds light on the further action the team will be taking for the restructuring process. A session on the Moratorium Application is coming up on September 25 2024, at 8:00 IST. The meeting of the hearing is scheduled for the Zoom platform, and the exchange has prompted creditors to fill out their registration and confirm their participation through the WazirX application. Creditor Support Vital for Restructuring Although the Singapore High Court…

Bitcoin (BTC) is priced at $50,193.32 after crashing 17.7% over the past 24 hours, according to CoinGecko. The price went even further down but bounced back near the $49,000 price level, and Bitfinex analysts highlighted that this zone might be a short-term support. “We expect short-term support to be established around the 48,900 region. If there is no bullish momentum, this region may be retested, with the macroeconomic environment determining further price action,” added the analysts. The crypto sell-off is macro-driven. As reported by Crypto Briefing, the trigger for this massive correction appears to be the Bank of Japan’s unexpected…

Ethereum’s price has been trending lower over the past few months but has found support at a critical level. Meanwhile, the market is yet to demonstrate a bullish shift. Technical Analysis By Edris Derakhshi The Daily Chart On the daily timeframe, the asset has recently been rejected from the $2,700 resistance level and has gradually declined toward the $2,200 support zone. While this area has held the price again, the market has yet to display a significant rebound. With the RSI also remaining below 50%, the momentum still favors a bearish continuation. Therefore, a breakout below the $2,200 level remains…

Chainlink can mimic related technological innovations to hit mass adoption. The Oracle protocol is innovating with CCIP, one of its most adopted interoperability solutions. The possibility of Chainlink’s Cross-Chain Interoperability Protocol (CCIP) becoming a standard solution for Web3 projects is growing. Prophet One, a team of crypto enthusiasts, highlighted this possibility along with timelines showcased on charts posted on X. Possible Timeline for Chainlink CCIP Web3 Adoption The first chart posted was the CCIP Aggregate Tokens Transferred. This chart shows the daily average of all tokens sent cross-chain, with CCIP reaching a $900,000 daily average and over 50,000 monthly requests.…