Author: NBTC

Bitcoin (BTC) has rebounded sharply from the recent drop that saw prices drop below $50,000, approaching $60,000 again. Bitcoin Prospects Strengthen as Key Stablecoin Metric Hits 18-Month Low This recovery could indicate a sustained bullish trend, supported by a key metric that suggests that selling pressure is abating in the Bitcoin market. The “stablecoin exchange rate,” which compares the amount of BTC held in wallets associated with centralized exchanges to stablecoins, has reached its lowest level since February 2023. According to data from blockchain analytics firm CryptoQuant, this rate has been on a downward trend since June of last year.…

Ethereum continues to dominate the blockchain space with the highest development activity over the past week. According to data from Artemis, Ethereum recorded a staggering 42.8K commits on GitHub, far surpassing its competitors. This intense development activity reflects Ethereum’s ongoing efforts to enhance its network capabilities and maintain its position as the leading smart contract platform. Top Blockchains by Commits and Development Activity in last 7 daysLet’s compare the top blockchains by @github commits and active developers in last 7 days, according to @artemis__xyz, in order to evaluate their current development activity. pic.twitter.com/w2beAqiHkS — TOP 7 ICO | #StandWithUkraine🇺🇦 (@top7ico)…

Payments in national currencies among Shanghai Cooperation Organization (SCO) members have reportedly increased from 40% in 2022 to 92%, signaling a move away from reliance on the U.S. dollar. Similar to the BRICS economic bloc, the SCO, which includes Russia, China, India, and recently added Iran, is encouraging the use of local currencies to strengthen economic ties and promote a multipolar world order. SCO Members Shift to National Currencies for Payments Russia’s Deputy Minister of Economic Development Dmitry Volvach announced at a press conference in Moscow on Thursday that payments in national currencies among Shanghai Cooperation Organization (SCO) members have…

Leading crypto analyst The DeFi Investor has highlighted several important developments that investors should keep an eye on in the coming days in its latest report. Here’s a rundown of the key updates: Phantom (FTM) Sonic Testnet Launch: Fantom will launch its highly anticipated Sonic testnet next week. Sonic will be the biggest upgrade to the Fantom network to date and promises major advancements in the blockchain’s infrastructure and capabilities. Arbitrum (ARB) Stylus Update: Scheduled to be released on September 3, Arbitrum’s Stylus update will add support for writing smart contracts in Rust, C, and C++. This enhancement is expected…

OKX automates execution of the “funding rate arbitrage” strategy. The new offering allows traders of varied experience levels to maximized returns, OKX said. OKX, the world’s third-largest crypto exchange by trading volume, announced a new automated execution facility for the bi-legged crypto arbitrage strategy, opening doors for retail investors to maximize returns. The latest update allows eligible users of OKX’s Arbitrage bot to bypass complexities involved in the simultaneously placing opposing positions in spot and perpetual futures. Traders use this method to from pricing discrepancies between the two markets, the press release shared with CoinDesk said. The placement of these…

As crypto markets face their biggest downturn of the cycle, long-term investors are increasingly holding onto their assets, analysts say. Bitcoin (BTC) is grappling with the most significant downtrend of the current cycle, but recent data suggests a shift towards a more patient and resilient investor base. According to a Glassnode report on Aug. 13, the market is experiencing its “largest downtrend of the cycle,” following an extended period of aggressive distribution by investors. Despite the challenging conditions, there’s a growing trend among long-term holders to retain their assets rather than sell, signaling a shift in investor behavior toward “hodling.”…

ETH is valued at $2,560.80 with a slight 1.27% increase but faces key obstruction stages. The RSI hovers at 42.62 signalling sellers are still in control, though motion is impartial to bearish. MACD is close to bearish territory, suggesting it coin may face further backwards shift if resistance holds. ETH currently trades at $2,560.80, reflecting a 1.27% increase over the previous day. The coin’s market cap is valued at approximately $308 billion, accounting for 14.6% of the total crypto market dominance. Despite a important 26.20% decrease in the intra-day trading volume to $16.27 billion, the coin still maintains a volume-to-market…

The Qatar Central Bank, alongside the Qatar Financial Centre Authority, and Qatar Financial Centre Regulatory Authority (QFCRA) have launched the QFC Digital Assets Framework, a comprehensive and innovative regime for the creation and regulation of digital assets in the QFC. As per the press release, the development of the framework is one of the important goals established by the Third Financial Sector Strategic Plan. The QFC Digital Assets Framework 2024 issued by Qatar Central Bank and QFC, establishes the legal and regulatory foundation for digital assets, including the process of tokenization, legal recognition of property rights in tokens and their…

Cardano, the layer-1 blockchain launched in 2017 by Ethereum co-founder Charles Hoskinson, activated its highly anticipated “Chang” upgrade on Sunday, marking the ecosystem’s long-planned shift towards decentralized governance. With the Chang upgrade now live, ADA token holders will be able to shape Cardano’s future by electing governance representatives and voting on development proposals. CIP-1694, an official “Cardano Improvement Proposal,” describes the new community governance structure and establishes three user-led governance bodies: the Constitutional Committee, Delegate Representatives (dReps), and Stake Pool Operators (SPOs). Moving forward, Cardano’s three founding entities—the Cardano Foundation, Input Output Global (IOHK) and Emurgo—will no longer have the…

Bybit launches spot TRY trading pairs, offering Turkish users direct access to cryptocurrencies without the need for conversion steps. Bybit is intensifying its expansion in Turkey by launching Turkish Lira trading pairs on its spot market, allowing users to trade cryptocurrencies without conversion steps, the exchange announced in a Sept. 2 press release. Kutluhan Akçın, Bybit Türkiye’s country manager, emphasized the significance of the launch, saying the exchange’s latest move reflects its “dedication to catering to local needs and providing a convenient platform for Turkish users to participate in the crypto market.” From now on, users on Bybit can trade…