Author: NBTC

Polygon (MATIC) continues to face challenges as its price remains at weekly lows. However, recent large-scale transactions have sparked interest and speculation within the crypto community. On August 30, Whale Alert, a blockchain analytics service, reported a significant transfer involving 196,000,000 MATIC tokens worth $83.6 million. This transfer, which occurred from Polygon Staking to an unknown wallet, has generated attention due to its timing and the potential implications for MATIC’s future. 🚨 🚨 🚨 🚨 196,000,000 #MATIC (83,606,586 USD) transferred from Polygon Staking to unknown wallethttps://t.co/H9OSXN0r7n — Whale Alert (@whale_alert) August 30, 2024 Data confirms the transaction occurred today at…

Whoever wins the upcoming U.S. election and becomes president must work towards regulatory clarity for the crypto sector, Lucy Gazmararian, founder and managing director at Token Bay Capital, says. Gazmararian shared this perspective during an interview with CNBC on Sept. 2. She noted that the bull market spike seen earlier in the year happened amid the spot Bitcoin (BTC) exchange traded fund mania. However, as well as ETFs, there’s been this rise of crypto into a topic in politics amid the upcoming election. Gazmararian on crypto clarity in the U.S. While the crypto market’s upward trajectory has tapered off slightly,…

Bitcoin mining profitability is at a record low, the report said. The aggregate market cap of the U.S.-listed bitcoin miners tracked by the bank fell 15% last month, JPMorgan said. The bank noted that mining difficulty rose 9% from the previous month. Bitcoin (BTC) mining profitability is stuck at record lows, JPMorgan (JPM) said in a research report on Tuesday. “We estimate bitcoin miners earned an average of $43,600 per EH/s in daily block reward revenue in August, the lowest point on record,” analysts Reginald Smith and Charles Pearce wrote. That compares with a peak value of $342,000 in November…

Magic Square, a pioneering Web3 app store platform backed by Binance Labs, has announced a new partnership with Exodus Movement, Inc. (OTCQX: EXOD). This collaboration brings Exodus’s innovative Passkeys Wallet to Magic Square’s ‘Magic Store’ and ‘Magic Launchpad’, providing users with an easy and secure way to create and manage crypto wallets directly within the app. The integration of Passkeys Wallet is designed to offer users a streamlined experience, allowing them to set up a crypto wallet in just a few taps without the need for installing browser extensions. The wallet supports a wide range of authentication methods, including FaceID…

Bitcoin has begun to recover after experiencing its biggest correction in its current cycle, according to a recent report from Bitfinex. Over the past week, BTC has rebounded sharply, rising nearly 28% from its recent lows of around $49,000. This rally marks Bitcoin’s lowest price since February and has pushed its value above the critical $60,000 level. The sharp sell-off in August caused prices to fall 33.32% from the all-time high of $73,666. According to the report, fundamental indicators provided insight into the severity of the recent pullback. The Mayer Multiple, which compares Bitcoin’s current price to its 200-day moving…

Circle’s USD Coin (USDC) stablecoin has crossed the $16 trillion mark in total cumulative volume. While this number falls short of traditional financial powerhouses like Visa, which processed over $12 trillion in payments just last year, it highlights the remarkable growth of stablecoins. Despite their relatively short existence, stablecoins have quickly established themselves as key players in the global financial market. Stablecoins play an essential role in the crypto ecosystem. They facilitate the smooth transfer of funds, support seamless trading between tokens, and enable payments, especially for cross-border transactions. Launched in 2018, USDC is the second-largest stablecoin by market capitalization,…

In a September 1 X post, Kannon Shanmugam, a lawyer representing Joseph Van Loon and several others in a lawsuit against the U.S. Treasury hinted that he would be presenting arguments in the Fifth Circuit for the case. In a show of support for the legal challenge, Coinbase’s Chief Legal Officer, Paul Grewal, responded to Shanmugam’s post, stating, “We appreciate all the work you’ve put in.” Threat to First Amendment Van Loon and his fellow complainants sued the revenue department in September 2023, arguing that it had overstepped its authority when it added Tornado Cash to its Specially Designated Nationals…

The increasing difficulty of mining cryptocurrencies and a further 9% drop in its price has negatively impacted Wall Street Bitcoin (BTC) miners in August. The publicly listed CleanSpark (NASDAQ: CLSK) and Bitfarms (NASDAQ: BITF) have both reported a decline in their Bitcoin production compared to the previous month. CleanSpark and Bitfarms Report Decreased Bitcoin Production in August 2024 CleanSpark, which describes itself as “America’s Bitcoin Miner,” and is one of the biggest publicly listed BTC companies by market cap, mined 478 Bitcoin in August, down from 494 in July. This represents a 3.2% decrease in monthly production. The company’s average…

India has more than 66,000 content creators on the Metaverse platform The Sandbox, more than any other country. The increase follows the platform’s decision to push for growth in India, and it’s now targeting 1 million users in two years. India has become Metaverse platform The Sandbox’s largest supplier of content creators as the number of users doubled to 350,000 less than a year after the Web3 project said it planned to make the nation its largest market. The country now supplies 66,000 creators, who develop games for the immersive environment, compared with 59,989 in the U.S. and 25,335 in…

A crypto analyst has unveiled a highly optimistic forecast for Bitcoin (BTC), suggesting that the end of the supposed Bitcoin bear trap could propel the price of the cryptocurrency to new highs, potentially reaching $72,000. Bitcoin Set To Hit $72,000 In a recent X (formerly Twitter) post, a crypto analyst identified as ‘Sensei’ has predicted that Bitcoin will surge to $72,000 soon. The analyst shared a price chart highlighting two parallel trend lines that trace Bitcoin’s recent price movements. The analyst rooted his optimistic projections in the potential for a bullish surge in Bitcoin following the recent market bear trap.…