Author: NBTC

Dwindling “exchange stablecoins ratio” points to declining selling pressure in the BTC market, CryptoQuant said. Supply of the top two stablecoins, USDT and USDC, continues to rise. Bitcoin (BTC) has quickly recovered to nearly $60,000 after a debacle last week that saw prices drop below $50,000 at one point. The recovery may have legs, as the “exchange stablecoins ratio,” which measures the number of BTC held in wallets tied to centralized exchanges relative to stablecoins, suggests reduced selling pressure. The ratio has dropped to its lowest since February 2023, extending a prolonged downtrend that began in June last year, according…

Veteran trader Peter Brandt has recently shared his thoughts on Ethereum’s (ETH) price action. In a tweet that has caught the attention of the crypto community, Brandt shared his thoughts on how he sees trading possibilities, highlighting the importance of having a well-defined risk point in any trade. “One of the important things I look for in a trade is if it has a well-defined risk point where I can say I am wrong and cut my losses,” Brandt wrote. One of the important things I look for in a trade is if it has a well-defined risk point where…

Ondo Finance is a leading platform in the decentralized finance (DeFi) space, dedicated to bridging the gap between traditional finance (TradFi) and decentralized finance by tokenizing real-world assets (RWAs). Using Ondo Finance, users can trade tokenized versions of real-world securities within a regulated framework based on transparency, security, and accessibility. The US government’s ability to print money to cover its debts makes short-duration Treasuries an attractive, low-risk investment, essentially equivalent to holding dollars but with added yield. Ondo Finance leverages blockchain technology to simplify the trading and ownership of these financial instruments, making them more accessible. In a period where…

Ether spot ETFs have seen net outflows overall since their launch, said the team at JPMorgan. The outflows from the Grayscale Ethereum Trust were much larger than the bank had originally anticipated. The bank noted growing interest from asset managers for a combined ETF that gives exposure to both bitcoin and ether. Ether spot exchange-traded funds have seen net outflows overall since their launch last month in contrast to the more successful launch of spot bitcoin ETFs earlier in the year, JPMorgan said in a research report on Wednesday. The ether (ETH) ETFs commenced trading in the U.S. on July…

The latest Personal Consumption Expenditures (PCE) report released today has received positive feedback from analysts who suggest that inflation may have finally peaked. Peter Cardillo, chief market economist at Spartan Capital Securities, called the report “all good numbers,” confirming that inflation is on a downward trajectory. Personal income growth has remained modest, while consumption growth suggests the likelihood of a recession in early 2025 is minimal, according to Cardillo. Cardillo predicts the Fed will soon begin cutting rates, but the extent of the cuts remains a matter of debate. “Whether it’s 25 or 50 basis points depends entirely on next…

PancakeSwap, one of the leading decentralized crypto exchanges, is gearing up for its fourth anniversary on September 22. In a recent announcement, the exchange revealed that it’s extending the deadlines for two of its celebratory campaigns, giving fans more time to participate and win big. 🎂 PancakeSwap’s 4th Birthday: #Pancake4ever Campaigns Update 🥞 To celebrate more of PancakeSwap’s 4th birthday with you, we’ve extended the deadlines for the Tee Design & Bake-Off to Sep 16—making sure everyone gets a chance to join the fun! 🎉 Engage now and compete for over… pic.twitter.com/Ae81HSMLko — PancakeSwap is turning 4 #Pancake4ever (@PancakeSwap) August…

Bitcoin has surged nearly 28% from its recent low of $49,000, climbing back near the $60,000 level. This rebound follows a notable drop in August, where Bitcoin’s price tumbled by 33.32% from its cycle high of $73,666. This decline was the largest of the current cycle. At press time, Bitcoin price is $59,676.84 with a 24-hour trading volume of $35,050,958,497. Bitcoin is down 1.24% in the last 24 hours with a market cap of $1,177,959,350,244. Over the last 7 days, Bitcoin has risen by 8.88%. Key metrics, such as the Mayer Multiple, show the severity of this downturn. The Mayer…

While Bitcoin (BTC) and altcoins experienced serious declines in August, the largest altcoin, Ethereum, drew attention with its 23% decline in a month. What Are the Four Major Events That Influenced the Ethereum Drop? Behind Ethereum’s decline are the sales of the Ethereum Foundation, market makers, and whales, while blockchain analytics platform Spot On Chain has detected four major sales in ETH, which has experienced two sharp declines in the past month. Accordingly, the first event was the Ethereum Foundation’s sale of 35,400 ETH worth $94 million. On August 23, the Ethereum Foundation deposited 35,000 ETH (worth $93.8 million) to…

Robot Ventures, an early-stage investor in notable crypto startups such as EigenLayer, Lido Finance, and Flashbots, has announced a new $75 million venture capital fund, according to a report by Muyao Shen for Bloomberg. The crypto venture investing landscape has witnessed a revival this year, fueled by a significant upswing in token prices since their previous lows. This positive momentum has attracted renewed interest from investors, as evidenced by other recent fund launches like Hack VC’s $150 million fund in February and Paradigm’s $850 million fund in June, Bloomberg reports. Robert Leshner, a general partner at Robot Ventures, highlighted the…

Baby Dogecoin, the memecoin built by Dogecoin Community members, has taken the X-verse by storm. Its inception came with a noble vision to support animal welfare and animal adoption, leading to a massive 2.4 million followers on X. On August 30th, 2024, the token went under maintenance for two hours and came back with a bang. The token announced an update for the BabyDoge PAWS Players, where it is introducing a promotional weekly theme. 📢 Attention BabyDoge PAWS Players! 📢 🐾 We had some exciting news, but first, we needed a little downtime! A scheduled maintenance began at 14:30 UTC…