Author: NBTC

Although the leading cryptocurrency Bitcoin (BTC) attempted to break above $60,000 levels over the weekend, it faced a strong rejection from there. BTC experienced a significant decline from the $60,000 levels and dropped to $58,000 levels. While there is uncertainty about the reason for this decline, cryptocurrency investor HODL15Capital claimed that increasing short positions were behind this decline. Posting from his account X, HODL15Capital noted that as soon as the Bitcoin price rose to $60,000, Bitcoin shorts experienced an aggressive increase across multiple exchanges. At this point, HODL15Capital said there is a massive imbalance across multiple different crypto exchanges, including…

It’s been a month since spot Ethereum ETFs launched in the U.S., and let’s just say things haven’t gone exactly as planned. Investors, it seems, aren’t as pumped as everyone hoped they would be. The nine ETFs that hold Ethereum directly have been experiencing outflows for six straight days. Since their launch, these funds have been bleeding cash, while Bitcoin ETFs, in contrast, have been enjoying a steady stream of inflows. Talk about a tale of two cryptos. Just today, the Grayscale Mini Bitcoin ETF raked in $51 million. Meanwhile, Ether ETFs are struggling. It took years of fighting with…

The team behind the Shiba Inu ecosystem updates Shiba Inu Documentation, providing new technical articles and guides to the Layer-2 blockchain Shibarium. Prominent Japan-based Shiba Inu community figure Kuro called the public’s attention to the development in a post yesterday. Shiba Inu Documentation has been updated! ▫Build on Shibarium▫Become a Validator▫Bridge Assets☟https://t.co/n6juf4IFrl#SHIB #Shibarium pic.twitter.com/0igHegD3Pi — KURO🐾SHIBARMY JPN🇯🇵 (@kuro_9696_9696) July 2, 2024 Latest Updates on Shiba Inu Documentation Following the update, Shiba Inu Documentation features three new essential sections: Build on Shibarium, Become a Validator, and Bridge Assets. The ‘Build on Shibarium’ section provides information on how developers can create and…

South Korean crypto exchange Bithumb Korea has secured a key legal victory against the country’s tax authorities. A high court ruled that Bithumb’s virtual assets are not to be classified as inventory, offering much-needed clarity to the digital asset industry. The dispute stemmed from Bithumb’s change in its virtual asset valuation method between 2014 and 2017. Tax authorities claimed this led to underreported profits. However, the Seoul High Court sided with Bithumb, emphasizing the lack of regulations at the time. This ruling comes amidst South Korea’s increasing crypto scrutiny, with potential delistings for non-compliant assets looming. Crucially, the court also…

Binance has completed the integration of Yield Guild Games on the Ronin network. Deposits and withdrawals are now available to users. This partnership between the three platforms aims to boost the GameFi and play-to-earn opportunities for the players. BIG NEWS!Super excited to announce that Binance has officially integrated YGG on Ronin Network!Seamless Deposits and Withdrawals are now open on the largest cryptocurrency exchange! Read more: https://t.co/47Bc7EAYzG#TogetherWePlay #YGG #Ronin #Binance pic.twitter.com/skFWIj5fGp — Yield Guild Games (@YieldGuild) August 27, 2024 Yield Guild Games (YGG) is a gaming guild focused on blockchain play-to-earn games. It’s a community that invests in NFT assets and…

Genesis Digital Assets (GDA), one of the world’s largest Bitcoin mining companies, has announced plans to expand its recently launched Texas data centre to 400 megawatts. The ambitious phase two scaling highlights GDA’s commitment to Texas as a mining hub, leveraging the state’s renewable energy and pro-innovation policies. GDA’s Rowdy Data Center in Vernon is currently operational at 60 MW, supported by the Oklaunion Substation. The site benefits from substantial local wind power and is located near Vernon city in Wilbarger County. The data centre utilizes grid power with renewable energy sources for its operations. “GDA’s business is a natural…

The Bitcoin (BTC) price continues to move sideways above the current support at $57,000, but below the moving average lines. Long-term prediction of the Bitcoin price: fluctuating Since August 8, the upward correction has stalled at the moving average lines or the resistance zone at $63,000. The Bitcoin price has been fluctuating within a small range above the current support level but below the moving average lines for the past week. The largest cryptocurrency will resume its uptrend if buyers keep the price above the moving average lines. The bullish momentum will continue up to the $67,000 high. Should the…

Ethereum lags behind Bitcoin and altcoins, trading below its 20-week simple moving average. Analyst Benjamin Cowen suggests Ethereum could rally to $3,000 amid positive market trends. Ethereum’s current support is $2,681, with potential resistance at $2,930 for a breakout. Ethereum, the second-largest cryptocurrency by market cap, has been lagging behind other major cryptocurrencies, sitting well below its 20-week Simple Moving Average (SMA). With Bitcoin (BTC) and other altcoins already hitting their bull market support bands, crypto analyst Benjamin Cowen suggests that ETH might soon close the gap. With the Federal Reserve’s expected rate cuts just weeks away, could Ethereum rally…

TRON burned over 11 million TRX, showcasing a strong commitment to deflation and value growth. TRON leads stablecoin transactions with a 97.62% market share, surpassing Ethereum and other blockchains. On July 2nd, TRON made headlines by burning 11,531,634 TRX tokens. This important action shows the dedication of the network to deflation and value expansion. With a net negative production ratio of -6,465,123, TRON keeps its top position in the blockchain sector. These kind of token burns are vital in lowering supply and maybe raising the value of the surviving tokens, thereby helping the ecosystem and the holders. #TRON just burned…

The UK Treasury and the Financial Conduct Authority (FCA) have raised concerns over a looming fraud refund scheme that could bring significant challenges to the financial sector, CityA.M reported. The Payment Systems Regulator (PSR)’s new rules, set to take effect on October 7th, would require banks and fintech firms to fully reimburse victims of authorized push payment (APP) fraud up to a cap of £415,000, splitting the cost between the sending and receiving firms. However, concerns are mounting that the scheme could inflict long-lasting damage on the industry, particularly on smaller players. APP fraud, which cost Britons nearly £460 million…