Author: NBTC

Ethereum derivatives volumes on the CME have plunged sharply following the launch of spot Ethereum ETFs, reflecting reduced institutional interest. Trading volumes for Ethereum derivatives on the CME exchange experienced a significant decline in August as Ethereum futures volume plummeted 28.7% to $14.8 billion, while options volume dropped 37.0% to $567 million, marking the lowest levels since December 2023. Data provided by CCData shows that the downturn comes just months after the introduction of spot Ethereum exchange-traded funds in late May, signaling “lower-than-expected institutional interest in the asset.” CME institutional volume | Source: CCData Overall, CME’s derivatives trading volume plunged…

Riot Platforms has intensified its efforts to acquire rival Bitcoin miner Bitfarms by issuing an open letter to the firm’s shareholders on Sept. 3. In the letter, Riot announced that it had lowered its request for board seats at Bitfarms to two independent directors following recent removals while also criticizing several of the company’s recent decisions. Criticism of Stronghold acquisition Riot raised concerns about Bitfarms’ recent acquisition of Stronghold, a deal valued at $175 million. According to the firm, this transaction represented a premium of over 100% compared to Stronghold’s closing share price the day before the announcement. Riot pointed…

The cryptocurrency space erupted today when the world’s largest exchange Binance made a mysterious announcement. In a recent post on X, the black-and-yellow crypto giant simply mentioned “BNSOL” and then said that it is coming soon. Many began to guess at what this meant, as no clear answer was given. But there must be one. According to Solana Compass, the secret behind BNSOL could be Binance Staked SOL. As many may know, Solana is a token that can be staked. The purpose behind staking SOL tokens is to participate in the network as a validator or to participate in the…

Wrapped Bitcoin (wBTC) corresponds to approximately 10% of the overcollateralized stablecoin DAI reserves, which investors now consider removing as collateral. This decision could start a Bitcoin (BTC) sell-off if investors decide to close their wBTC exposure following Bitgo’s controversial announcement. On August 10, a BA Labs spokesperson raised a risk-mitigation issue related to wBTC changes on MakerDAO’s (MKR) governance forum. As explained in the proposal, Bitgo announced a plan to transfer control of wBTC to a joint venture with BiT Global. Moreover, the leading custody solutions provider, Bitgo, disclosed this would result in a partnership with Justin Sun and Tron…

The NFT market has experienced notable shifts over the past week, with Guild of Guardians leading the charge in weekly sales volume. This collection has risen to the top, surpassing some of the industry’s most well-established players. TOP #NFT COLLECTIONS BY WEEKLY SALES VOLUME #GuildofGuardians #BoredApeYachtClub #CryptoPunks #Dogezuki #Sorare #PudgyPenguins #MadLads #OrdinalsMaxiBiz #SolanaMonkeyBusiness #Courtyard #Runestone #NodeMonkes pic.twitter.com/TREtiSAkRJ — PHOENIX – Crypto News & Analytics (@pnxgrp) September 5, 2024 According to PHOENIX, guild of Guardians has emerged as the top performer in the past week, claiming the highest sales volume among NFT collections. The rise of this gaming-related collection highlights the…

Read also: ETH Price Stalls as ETF Inflows Stay Weak Ether (ETH), the second-largest cryptocurrency, has experienced a notable increase in its circulating supply recently, which could potentially influence its price based on the principle of supply and demand. Data from ultrasound.money reveals a substantial addition of 16,411.40 tokens to Ethereum’s circulating supply over the past week. On August 25th, the supply of ETH was 120,308,385, rising to 120,324,796 by September 5th. The data also indicated around 92,000 ETH burned annually. It is important to note that the total ETH tokens issued in the past week amounted to 18,175.27 ETH,…

0xPPL, an innovative social networking resource for the crypto community, has completed a major round of strategic investments targeting its capabilities. However, some notable investors, such as Peak XV Partners, Alliance DAO, and Anagram, were involved in this effort. This investment focuses on building the platform’s growth, improving the products offered, and reinforcing its position as the preferred platform for on-chain social networks. Set up in August 2022, 0xPPL’s mission is to completely change how cryptocurrency enthusiasts come around, communicate, and spread information. With this new funding, 0xPPL intends to use the funds to introduce cutting-edge technologies such as decentralized…

While the answer to the question of whether every decline in Bitcoin and altcoins is an opportunity varies from investor to investor, according to these two whales it is “yes”. According to Lookonchain and Spot on Chain’s posts, two major crypto whales made significant purchases today. One bought a significant amount of BTC, while the other bought PEPE. Accordingly, the whale, which sold $467 million worth of BTC in July and dumped the BTC price, bought 1,000 BTC (worth $59.6 million) from Binance today. “The whale that allegedly sold $467 million worth of BTC in July bought 1,000 BTC ($59.6…

Iris Energy has reported a 10% increase in bitcoin production during August 2024, with the company mining 245 bitcoin. The improvement is attributed to higher operational efficiency and reduced electricity costs following the company’s transition to spot pricing. Iris Energy’s Bitcoin Mining Efficiency Leads to Output Growth In its August 2024 investor update, Iris Energy (Nasdaq: IREN) highlighted a rise in operational hashrate to 10.94 petahash per second (PH/s), compared to 9.01 PH/s in July. The company credited the production boost to optimized electricity pricing strategies at its Childress site, which resulted in electricity costs per bitcoin dropping to $29,958…

Following a significant downtrend, Bitcoin found strong support near the $50K threshold and experienced a notable rebound. However, the price has now approached a substantial resistance region around the 200-day moving average at $61K, potentially completing a pullback. Technical Analysis By Shayan The Daily Chart A detailed examination of Bitcoin’s daily chart reveals a significant increase in buying pressure and demand near the critical $50K support region, resulting in a substantial bullish rebound. Subsequently, BTC surged back toward a key resistance region, encompassing the 200-day moving average at $61K and the psychological resistance at $60K. This key area is likely…