Author: NBTC

Mike McGlone, Senior Commodity Strategist at Bloomberg Intelligence, has shared the potential implications of Bitcoin’s (BTC) recent performance on the broader United States stock market. Particularly, in an August 10 X post, McGlone suggested that Bitcoin—a key indicator in the realm of risk assets—might be maturing rapidly, particularly in the context of US exchange-traded funds (ETFs). However, this maturation could be placing considerable pressure on the stock market. He pointed out that Bitcoin has experienced a notable decline from its previous highs, a trend McGlone believes is exposing vulnerabilities within the stock market. As of August 10, 2024, Bitcoin was…

The performance of the market’s favorite altcoin, Ethereum (ETH), has been hampered by problems with its network in the past few months. As these problems persist, ETH’s price troubles may linger longer than anticipated. Ethereum Faces Low User Activity, ETF Sees Outflows The Ethereum network has witnessed a decline in user demand over the past few months. Artemis data shows that the past 90 days have been marked by a 6% drop in the count of unique active addresses that have completed at least one transaction on the Layer 1 (L1) network. A decline in active users on a blockchain…

Donald Trump and his sons have for weeks teased an upcoming cryptocurrency project, but they’ve been light on details in public. Privately, though, the former U.S. president’s inner circle has been quietly shopping around a white paper for World Liberty Financial – and CoinDesk has obtained excerpts. The document and other reporting describe a borrowing and lending service strikingly similar to Dough Finance, a recently hacked blockchain app built by four people listed as World Liberty Financial team members. Other participants include all three of Trump’s sons (including 18-year-old Barron, who is identified as the project’s “DeFi visionary”), financiers and…

The political-themed meme coins known as “PolitiFi tokens” have surged 782.4% on average in 2024, as reported by CoinGecko. The category surpassed the broader meme coin category’s 90.2% average year-to-date growth. The largest PolitiFi token is ConstitutionDAO (PEOPLE), leading with a $385.6 million market cap and showing a 494.3% price increase since the start of the year. Yet, despite having less than half PEOPLE’s market cap at $178.9 million, MAGA (TRUMP) soared 1,350.9% in 2024 Another Trump-related token with a significant performance is the MAGA Hat (MAGA), which has grown 1,292.1% since its inception in May. At a market cap…

Bitcoin (BTC) holders faced a rough period last Monday as the price crashed from $61,000 to $54,000 within a few hours. This decline, tagged as one of the worst days for BTC this year, caused massive losses and liquidations. While the coin has reclaimed the previously lost peak, data shows that the BTC price may still be in danger of another decrease. Bitcoin HODLer Behavior Lacks Confidence A crucial metric fueling this bias is Bitcoin’s Holder Net Position Change. The Holder Net Position Change tracks if long-term holders are accumulating more coins or decreasing their exposure to a cryptocurrency. When…

On-chain data tracking service Lookonchain has revealed a mysterious move from the Ethereum Foundation, a non-profit organization backing the Ethereum (ETH) network. Lookonchain tweeted that the foundation sold 100 ETH a few hours ago. These coins are estimated to be sold for 241,000 DAI, a popular stablecoin token on the Ethereum blockchain. As expected, this move from the foundation has shocked the ETH community. It has injected negative sentiment among holders, as uncertainty is prevailing on the market. Notably, this is not the first sell-off triggered by the Ethereum Foundation. According to Lookonchain, the foundation has sold 2,616 ETH since…

The first trading day of September was awash in red, with the technology sector hard hit. Once high-flying Nvidia (NVDA) led the losses, although Apple, Microsoft, and Google were also down for the day. Nvidia (NVDA) suffered the most during the Tuesday bloodbath, with its stock plunging 9.53% to $108 from its open at $116.02. The drop brought a massive contraction in the company’s total market cap. The $270 billion fall from $2.92 trillion to $2.65 trillion was “the biggest one-day market cap decline on record for any U.S. company,” according to the Wall Street Journal. The news got worse…

Blockchain network Polkadot will now feature its logo on the football icon Lionel Messi’s training kit as part of a partnership with United States-based football club Inter Miami. According to a press release shared with crypto.news, Inter Miami players, including football stars such as FC Barcelona legends Lionel Messi and Luis Suárez, will wear training kits featuring the Polkadot logo as part of the club’s new partnership with the blockchain platform, now its global training partner. The logo will be featured on the front and back of the training tops for players and technical staff, which will be worn during…

Bitcoin whales made a substantial purchase of 84,000 Bitcoins in July, marking the largest monthly increase since 2014. Market trends indicate a potential bullish shift, with significant trading volumes observed during price dips. BlackRock’s Bitcoin ETF has exhibited remarkable stability, reflecting solid institutional investment confidence. Discover why Bitcoin’s recent surge in purchases by large investors could signal a major market shift and what it means for future price trends. Bitcoin Whales’ Massive Buys: What’s Next? In July, Bitcoin experienced a significant accumulation by large investors, colloquially known as ‘whales.’ These entities acquired 84,000 Bitcoins, marking the highest level of monthly…

Decentralized crypto platform Aave (AAVE) has emerged as the leader among the top five lending and borrowing protocols, recording over $24 million in fees over the past 30 days. Aave enables users to create liquidity markets, allowing them to earn interest by supplying or borrowing assets. Aave Protocol Leads in 30-day Fees According to Token Terminal, Aave leads the lending and borrowing sector, followed by Morpho Labs, Venus, Compound Finance, and Moonwell. Michael Nadeau, founder of The DeFi Report, notes that Aave commands a 64% market share in the lending and borrowing markets. Aave boasts 4.6 times more active loans…