Author: NBTC

The Stabila Foundation has launched a new initiative to boost stablecoin adoption within the Celo ecosystem, aiming to drive real-world use cases for the network. The Celo (CELO) blockchain ecosystem has welcomed a new foundation focused on increasing the adoption and use of stablecoins within its network. The Stabila Foundation, funded by the Celo community, aims to enhance the ecosystem’s financial stability by promoting the real-world utility of stablecoins, particularly in emerging markets such as Africa, Latin America, and Southeast Asia, according to an Aug. 28 press release shared with crypto.news. “We aim to achieve these goals by collaborating closely…

As bitcoin dipped below $55K this week, something quite interesting happened behind the scenes. On Sept. 7, 2024, the network’s computational power hit a new lifetime high. The seven-day simple moving average (SMA) for Bitcoin’s total hashrate climbed to 679 exahash per second (EH/s) on Saturday, a slight bump of 2 EH/s over the previous record set on July 25. Bitcoin’s Hashrate Soars to 679 EH/s According to Luxor’s hashrateindex.com, Bitcoin’s total hashrate hit an all-time high on Saturday, as seen in the seven-day simple moving average (SMA). At 12 p.m. EDT on Sept. 7, the hashrate clocked in at…

Popular cryptocurrency influencer Whale Panda recently speculated that MicroStrategy co-founder Michael Saylor was responsible for the swift market recovery. On Thursday, the Bitcoin price came close to reclaiming the $63,000 level despite plunging below the $50,000 level. The massive price jump has unexpectedly resulted in a rapid sentiment shift, with Bitcoin returning back to neutral territory in virtually no time. Whale Panda believes that Saylor was possibly responsible for the significant price jump by buying $2 billion worth of Bitcoin in one go. However, Blockstream CEO Adam Back, one of the most prominent Bitcoin evangelists, believes that this is not…

Toncoin (TON) is at risk of dropping out of the top 10 crypto assets amid the growth of TRON (TRX). According to data from CoinMarketCap, TON’s market cap has fallen below $13 billion over the past three days, while TRON’s has grown to over $14 billion. TON has lost its market cap position to TRON due to a recent price correction following the arrest of Pavel Durov, the co-founder and CEO of Telegram. The price of Toncoin has decreased by 18% in the last 30 days, hitting a low of $5.11 on Tuesday after a network outage which added bearish…

Bitcoin (BTC) broke $62,000 on Aug. 8 and now needs to hold the $60,600 level as support on the daily chart to try a revisit to $65,000, according to the trader identified as Rekt Capital on X (formerly Twitter). The upward movement was likely triggered by BTC chasing a CME gap between $59,400 and $62,550. A CME gap is the difference between the closing and opening prices of futures contracts traded on the Chicago Mercantile Exchange. “Bitcoin has successfully broken above $60600. Dips into $60600, if any at all, would constitute a retest attempt of that level. Generally, continued stability…

Aethir, a leader in GPUs-as-a-service, has partnered with Auros, a top crypto-native algorithmic trading firm, to improve transparency and efficiency in ATH token transactions for Aethir’s decentralized cloud computing infrastructure, the company shared in a Wednesday announcement. With the partnership, Aethir and Auros aim to address a common struggle with transaction transparency and efficiency when enterprises transition to decentralized cloud computing. The entities will implement regular, on-chain transactions to ensure that every step is visible and verifiable. Aethir has reported $36 million in annual recurring revenue from enterprise clients, facilitating seamless conversion of this revenue into ATH tokens for computing…

Robinhood’s crypto-trading subsidiary used to prevent customers from withdrawing the tokens they bought. Though Robinhood Crypto LLC abandoned that policy in 2022, on Wednesday its past practices earned a $3.9 million slap on the wrist from the state of California. The California Department of Justice settled its investigation into what Robinhood’s chief lawyer called “historical practices” in the popular trading app’s crypto business from 2018 through 2022 The state’s investigation notably treated the various cryptocurrencies that people can buy and sell through Robinhood as commodities. By allowing customers to buy cryptos but failing to let them take personal custody of…

Crypto analyst Plan B dissected the BTC price charts and market cycles along with technical indicators to predict Bitcoin will surpass $100,000 in 2024 itself. Plan B also leveraged technical analysis tools like the Relative Strength Index (RSI) and moving averages to support his prediction. The Stock-to-Flow chart, with its color gradient indicating pre-halving months, reveals a consistent pattern of price increases before each halving event. Plan B argues this supports the step function in the S2F model, where Bitcoin’s price jumps sharply after each halving. Plan B’s Bitcoin Market Cycles chart, created in 2019, complements the S2F model by…

Shiba Inu (SHIB) has witnessed a dramatic surge in exchange outflows. It is a crucial update that comes at a time of uncertainty on the broader crypto market. The recent crypto crash caused significant trouble for holders, as there were major losses. CoinMarketCap reports that the global crypto market cap has fallen 3.26% over the last day to $2.11 trillion. The highly popular meme coin Shiba Inu also crumbled during this time. Its price fell from $0.00001459 to a low of $0.00001358 in a few hours. Notably, the meme coin touched the $0.00001358 level two times over the last 24…

India’s Financial Intelligence Unit is reportedly reviewing four offshore cryptocurrency exchanges for potential approval to resume operations following the lifting of bans on Binance and Kucoin. The focus is on ensuring compliance with anti-money laundering regulations, including transaction transparency and reporting of suspicious activity. FIU-India May Permit More Offshore Crypto Exchanges Next Year India’s Financial Intelligence Unit (FIU-India) is reportedly reviewing requests from four offshore cryptocurrency exchanges to resume operations by March 2025, following the earlier lifting of bans on Binance and Kucoin. A source familiar with the review process told local news outlets: We have received requests from four…