Author: NBTC

Veteran trader Peter Brandt has recently shared his insights on the Bitcoin/Gold ratio, implying that there may be a tradable local low on the horizon. In a recent tweet, Brandt provided an analysis of the Bitcoin/Gold ratio, which compares the price of Bitcoin to Gold. This ratio is a key indicator for traders looking to understand the relative strength of Bitcoin against the traditional safe-haven asset, Gold. Brandt accompanied the tweet with a chart that showed a pattern resembling a parallel channel, with Bitcoin trending down against Gold. There may be a tradable local low in the Bitcoin/Gold ratio $BTC…

Spot Bitcoin ETFs, or exchange-traded funds, broke out of a two-week outflow streak with over $403.8 million in weekly inflows. Analysts expect the uptick in institutional interest this year to help Bitcoin defy the bearish September narrative. According to SoSoValue, spot Bitcoin ETFs raked in $263.07 million on Sept. 13, the largest single-day inflow since July 22, with Fidelity and ARK Invest and 21Shares’ funds snagging over half of the day’s action. Fidelity’s FBTC continued its 5-day inflow streak, bringing in $102.1 million. ARK Invest and 21Shares’ ARKB, $99.3 million. Bitwise BITB, $43.1million. Franklin Templeton EZBC, $5.2 million. Grayscale’s GBTC…

Solana has emerged as the blockchain with the highest number of daily active addresses, outperforming other major tokens, including Bitcoin and Ethereum. According to the latest data, Solana recorded 3.04 million active addresses, indicating its growing traction in the blockchain space. This chart shows the number of daily active addresses across major tokens👇Which one are you bullish on? pic.twitter.com/QvxiFljo8Z — IntoTheBlock (@intotheblock) September 26, 2024 According to IntoTheBlock, Toncoin and Tron are positioned as strong competitors in the market, with 2.89 million and 2.5 million active addresses, respectively. These figures highlight the increasing adoption of Toncoin and Tron’s ecosystems, which…

Blockchain bonds are becoming increasingly popular as more financial industry players seek to enhance efficiency and transparency in the $130 trillion industry. The latest is the island nation of Palau, which has issued a blockchain bond to tap into local capital for infrastructure projects. In Germany, regional lender WIBank tested the waters with a €5 million ($5.4 million) blockchain bond as part of the region’s distributed ledger technology (DLT) trials. Palau taps blockchain savings bonds Palau is exploring blockchain savings bonds to raise capital for its infrastructure projects. It has partnered with Soramitsu, a Tokyo, Japan-based blockchain services company, on…

A widely followed crypto analyst believes Bitcoin (BTC) could soar by triple digits before the cycle ends. Crypto trader Michaël van de Poppe tells his 724,700 followers on the social media platform X that Bitcoin could increase by up to 890% from its current value if investors choose the flagship digital asset as a hedge against geopolitical tensions, banking instability and currency debasement. “The current valuation of Bitcoin is still super low. I wouldn’t be surprised with $300,000-$600,000 this cycle.” Bitcoin is trading for $60,588 at time of writing, up more than 4% in the last 24 hours. The analyst…

Polygon saw the largest growth, with a 1,019% increase in new addresses over the last 30 days. Wrapped Ether (WETH) on grew by 263%, while LayerZero on Optimism and Arbitrum also showed gains. Stablecoins such as USD Coin and Tether experienced constant growth across platforms. Several cryptocurrency networks have grown over the last 30 days, with notable increases in the number of new addresses. Leading the charge is the Polygon Ecosystem, followed by other key players such as Wrapped Ether (WETH) on Polygon, LayerZero on Optimism and Arbitrum, and USD Coin on multiple platforms. Polygon Ecosystem Leads with Over 1,000%…

In a new development that is likely to enhance security while at the same time creating transparency, Starpower has agreed to integrate IoTeX’s ioID system into its service. This opens up a new level of enhancement on how Starpower manages authentications of on-chain and off-chain identities in the decentralized energy systems bringing more reliability for users within the space. Starpower, a massive decentralized energy network, is integrating IoTeX’s ioID for enhanced DePIN verification.ioID seamlessly bridges on-chain + off-chain identities, boosting transparency, verifiability, & trust for @starpowerworld’s 14,000+ devices & 5M daily transactions. https://t.co/lBt7lg2eSV — IoTeX (@iotex_io) October 16, 2024 The…

Cryptocurrency analytics firm Alphractal reported a significant shift in the Bitcoin market due to large withdrawals from exchanges. The company described the trend as “extraordinary,” noting that more than 4.33 million Bitcoins (BTC) have been withdrawn from exchanges since 2020, equivalent to more than $129 billion at the time. Today, those same BTCs are worth around $260 billion. The report highlights the scale of these outflows by noting that Bitcoin reserves on exchanges are rapidly depleting. In February 2020, exchanges held around 1.66 million BTC, but steady outflows have since brought that figure down, with withdrawals far exceeding the rate…

Phaidon will launch ‘CryptoPunks: Free to Claim’, the first and only comprehensive book to feature all 10,000 Punks ever created, alongside a detailed look at how the digital collectibles became a cultural phenomenon. In an Oct. 16 press release received by crypto.news, global publishing firm Phaidon announced the upcoming release of “CryptoPunks: Free to Claim”, a book written and compiled by creative director Zak Kyes, web3 lifestyle and media company Yuga Labs and conceived by Zak Group. The book will be available for order in December for $100 USD, $135 CAN, £49.95 UK and €89.95 EUR. A limited version will…

After Revolut, American zero-commission broker Robinhood is now considering launching stablecoins, Bloomberg reported. However, a Robinhood spokesperson said the company has “no imminent plans to launch this offering” without dismissing the report. Although it started as a disruptor in the American stock brokerage market, Robinhood expanded its offerings to crypto and now generates a significant portion of its revenue from services around digital assets. Its crypto transactions revenue doubled to $81 million in the second quarter of 2024, while the total transaction-based revenue was $327 million. Robinhood has been offering cryptocurrencies to its American users for years, but it expanded…