Author: NBTC

Ethereum traders remain optimistic about a price recovery despite the altcoin’s multiple false breakouts. Their continued confidence indicates that, regardless of ETH’s recent price action, the broader market anticipates the crypto will recover some losses. On August 24, ETH’s price reached $2,800 but faced rejection at that level. Will the price move in traders’ favor? Ethereum Bulls Remain Undeterred According to CryptoQuant, Ethereum’s Estimated Leverage Ratio (ELR) has recently risen, indicating that investors are increasingly taking high-leverage bets in the derivatives market. This suggests growing confidence in a significant price movement. Typically, a declining ELR points to cautious sentiment, with…

Disturbing developments have been observed behind the scenes of the popular meme cryptocurrency Dogecoin (DOGE). According to IntoTheBlock’s metrics tracking inflows and outflows to the wallets of large investors, i.e., those holding at least 0.1% of the circulating supply of DOGE, whales have significantly reduced their on-chain activity since the beginning of September. In particular, the inflows have decreased from 229.49 million to 27.96 million DOGE per day, a decrease of 87.81%. As for outflows, the statistics are as follows — outflows from the wallets of major investors fell to 17.42 million DOGE from 181.29 million tokens, that is, by…

Whales have transferred a significant over 15,706 ETH worth $40.13 million in the last 24 hours. Following the breakout of the bearish pattern, there is a high chance ETH could decline by 12% to the $2,200 level. If the ETH price falls to the 2,487 level, nearly $256 million worth of long positions will be liquidated. Ethereum (ETH), the world’s second-biggest cryptocurrency, is experiencing notable selling pressure due to continuous dumping by whales and institutions. Amid this market downturn, whales and Ethereum co-founder Vitalik Buterin have transferred a significant over 15,706 ETH worth $40.13 million in the last 24 hours,…

The Graph has integrated its support for Neo X within its indexing service. Developers can now view Neo X subgraphs on the explorer or use the Studio management dApp to aggregate relevant data for their applications. As an indexing layer for blockchain applications, The Graph uses a decentralized structure to meet developers’ data needs while lowering the barrier to entry. Without third-party indexing services, developers would need to operate their own node infrastructure and write their own indexing code to source blockchain state information, introducing a range of potential complexities, risks, and additional costs. An example subgraph for Neo X…

According to Eric Balchunas, Senior ETF Analyst at Bloomberg Intelligence, Bitcoin’s price could have been significantly lower without the influence of ETFs. Balchunas stated in a recent interview that he believes Bitcoin would be trading around $20,000 if ETFs did not exist. The analyst pointed to the price surge following BlackRock’s filing for a spot Bitcoin ETF as evidence of the ETF’s impact, arguing that the anticipation and subsequent launch of these ETFs fueled a significant portion of Bitcoin’s price increase. Balchunas praised the performance of spot Bitcoin ETFs since their launch, noting that they have returned 31% despite market…

The world has significantly improved since crypto became mainstream. Through crypto, NFT projects, blockchain technology, and the Web3 universe, crypto enthusiasts will encounter many new experiences that will change how we view and use the online space. And if you are passionate about NFTs but don’t always feel that buying them is profitable, we’ve prepared some of the best NFT giveaways and airdrops that might catch your attention this month. Choose your favorite NFT giveaway or airdrop and discover what this industry offers. 8 Top Free NFT Giveaways and Airdrops Ethereum NFT Drops 1. Skullfunkies Sale time: August 28, 2024…

Ethereum (ETH) continues to trade at $2.5K. Buterin currently holds about 240K ETH, worth $606 million. As August ends today, Ethereum (ETH) is harrowing to hold up its upside momentum. ETH’s previous upward momentum has reversed and witnessed significant bearish momentum. This largest altcoin fails to break the oscillating price range and chooses to consolidate within $2.5K-2.6K. Notably, ETH hit its seven-month low at the $2.1K range on August 5. As days progressed, it recovered from the dip and traded in the $2.7K range. Over the last 24 hours, ETH has briefly recovered by 0.57%. At the time of writing,…

After facing multiple delays, Bitcoin layer-2 network Stacks moved forward with the first part of its highly anticipated Nakamoto upgrade this week. The upgrade is expected to decouple block production from the Bitcoin blockchain, enabling faster and more efficient processing. The Nakamoto upgrade, partly rolled out in April, introduced mock-signing transactions using Stacks’ proof-of-transfer (POX) consensus, where miners burn BTC to earn STX rewards. Activation was delayed for eight weeks to focus on security and code audits, but the full upgrade finally started rolling out last Wednesday. Once fully implemented, Stacks is expected confirm transactions dramatically faster than before. With…

Bitcoin (BTC) investors are showing a renewed preference for holding and accumulating, according to Glassnode’s latest on-chain report. Following a period of supply distribution after Bitcoin’s all-time high in March, the market is now exhibiting early signs of a reversal towards accumulation. Large wallets, often associated with exchange-traded funds (ETFs), appear to be leading this trend. The Accumulation Trend Score (ATS) metric, which assesses weighted balance changes across the market, has recorded its highest possible value of 1.0, indicating significant accumulation over the past month. Long-Term holders (LTH) have also shifted their behavior. After divesting during the run-up to the…

Ethereum’s realized price has held steady, even as the market experienced a significant downturn over the past five months, according to a new analysis by CryptoQuant. This price level has historically acted as strong support, and when Ethereum’s performance surpasses it, it has often signaled the start of altcoin bull markets. Traders are keenly observing these trends for any signs of an upward shift. Ethereum is in a bullish trend“#Ethereum hasn’t lost the realized price it broke through despite the sharp price decline over the past five months, and the realized price is acting as support.Historically, altcoin bull markets have…