Author: NBTC

As of August 19, 2024, bitcoin is trading at $58,061, with a 24-hour intraday range between $57,918 and $60,191. The crypto asset saw a trading volume of $20.7 billion and maintains a market capitalization of $1.14 trillion. Multiple timeframes reveal a sustained downtrend, with key resistance levels holding firm and technical indicators signaling weak buying interest. Bitcoin Bitcoin’s 1-hour chart paints a grim picture, with a recent sharp decline from $60,271 to $57,844. The drop was marked by a significant increase in volume, suggesting potential capitulation. However, the absence of strong upticks following this decline indicates that buyer momentum remains…

Today, enjoy the On the Margin newsletter on Blockworks.co. Tomorrow, get the news delivered directly to your inbox. Subscribe to the On the Margin newsletter. Welcome to the On the Margin Newsletter, brought to you by Ben Strack and Casey Wagner. Here’s what you’ll find in today’s edition: Takeaways from the first month of trading for US spot ETH ETFs. Fed Chair Jerome Powell spoke. Casey translates. The mixed economic data you might have missed this week. One month in the books for US spot ETH ETFs Spot ether ETFs hit the US market one month ago today, and the…

In the last 24 hours, Shiba Inu’s burn rate surged 1611.81%, with 17,695,347 SHIB tokens burned in 4 transactions. In the past 24 hours, the Shiba Inu (SHIB) burn rate has skyrocketed by 1611.81%. According to Shibburn, a total of 17,695,347 SHIB tokens were permanently removed from circulation in just four transactions. In the past 24 hours, there have been a total of 17,695,347 $SHIB tokens burned and 4 transactions. Visit https://t.co/t0eRMnyZel to view the overall total of #SHIB tokens burned, circulating supply, and more. pic.twitter.com/f2SGmhKM5g — Shibburn (@shibburn) July 3, 2024 Notably, the recent burns were not evenly spread…

Cardano founder Hoskinson expresses skepticism as Kamala Harris’s aide states that she would set clear regulations that support the cryptocurrency industry if elected president. Brian Nelson, Vice President Kamala Harris’s senior policy advisor, has stated that if she is elected, the Democratic candidate will support policies that aid the growth of cryptocurrencies. The advisor made this claim in a roundtable at Bloomberg’s Democratic National Convention on Wednesday. Nelson noted that Harris is committed to seeing innovative technologies like digital assets thrive in her administration. He said the vice president would establish certain rules and clear regulatory policies to ensure the…

In a recent controversy shaking the crypto world, Binance, one of the largest crypto exchanges, is under fire for allegedly seizing funds from Palestinian users. This issue has been brought to the forefront by Ray Youssef, co-founder of Paxful and CEO of Noones, who claims that Binance acted on a request from the Israel Defense Forces (IDF) to freeze Palestinian accounts. The situation has sparked outrage and confusion among users and observers alike, prompting Binance to address these serious allegations. Allegations of Widespread Seizures Ray Youssef’s August 26 report alleged that Binance had confiscated all cryptocurrency funds held by Palestinians,…

Bitcoin’s price has failed to recover meaningfully after its drop from the $68K level. Yet, investors might still have hope, as several support levels are available. Technical Analysis By TradingRage The Daily Chart On the daily chart, the price has been consolidating below the 200-day moving average, located around the $63K mark. The market has also retested the moving average after breaking below it a couple of weeks ago but has been rejected to the downside. Since then, the price has failed to hold above the $60K level and is currently approaching the $57K support level. If this level breaks,…

Injective, a prominent blockchain that gets support from Mark Cuban and Binance, has recently unveiled a new integration. As per the platform, it is integrating with IoTeX which operates as an open-source forum that combines the Internet of Things and blockchain technology. The company took to its official account on the social media platform X to reveal the respective integration. .@iotex_io is now integrated with Injective, enabling the seamless transfer of IoTeX assets to Injective.This in turn allows for novel DePin applications, use cases and assets to enter the Injective ecosystem via a diverse array of dApps built on Injective.…

Taiwan’s high court convicted eight people of espionage for China, revealing that crypto was used to facilitate payments in one of the most prominent spying cases in recent years. Bloomberg reports, citing Taiwan’s Ministry of Justice’s Investigation Bureau, that Chinese intelligence used cryptocurrency to pay Taiwanese military personnel involved in a major espionage case. According to the report, Taiwan’s high court has convicted eight individuals, including active-duty and retired military officers, for collecting state secrets on behalf of China, what the report describes as “one of the largest espionage cases in years.” The report does not clarify which cryptocurrency was…

In anticipation of the upcoming Cardano Chang hard fork, Binance has confirmed its readiness, pushing exchange preparedness to a critical level. This development comes on the back of a recent surge in the number of exchanges prepared for the upgrade, as the blockchain network gears up for one of its most significant updates. As earlier reported by The Crypto Basic, the Chang hard fork team initially planned the hard fork for August 27 after assessing the readiness of key stakeholders and resources. Binance Now Ready for Chang However, on Aug. 24, Cardano founder Charles Hoskinson announced a postponement to Sept.…

On Aug. 28, Bitcoin’s mining difficulty bumped up by 2.99% at block height 858,816, pushing the metric from 86.87 trillion to a hefty 89.47 trillion. This tweak adds a bit more challenge for bitcoin miners, especially with hashprice values lingering at very low levels. Bitcoin Network’s Difficulty Jumps as Earnings Dwindle Bitcoin’s difficulty ticked up 2.99% on Wednesday, reaching 89.47 trillion, where it will stay until Sept. 10, 2024. The network’s difficulty metric essentially functions like a self-adjusting thermostat for the Bitcoin network, maintaining a consistent pace of block creation regardless of fluctuations in mining power. Simply put, if hashpower…