Author: NBTC

Bitcoin’s (BTC) price may have officially hit “reset” following an incredible rise in the coin’s long-term holder net position change. Historically, a rise in this metric helps the price recover. But will it be the same this time? This on-chain analysis examines the chances. $20 Billion in the Bag for Bitcoin HODLers According to Glassnode, Bitcoin’s long-term holder net position change has been increasing since July 22. However, today, the metric, which tracks the 30-day change in supply held by long-term holders, hit its highest point since January 2020. As seen in the image below, long-term holders purchased 334,358 BTC…

Sui (https://sui.io/) the Layer 1 blockchain offering industry-leading performance and infinite horizontal scaling, announced that it has joined forces with Fordefi, a company that employs multiparty computation (MPC) technology to deliver a secure institutional wallet platform for DeFi. Fordefi’s comprehensive platform and Web3 gateway provide an enterprise grade solution enabling builders, traders, and operators to self-custody their private keys, seamlessly connect to thousands of decentralized applications (dApps) across any blockchain, and manage digital asset operations with granular policies and a unified interface. Fordefi’s integration with Sui enables institutional users to securely self-custody their private keys and connect to thousands of…

Ethereum has outperformed Bitcoin in terms of price performance, especially when looking at time frames since its inception, halving years, and bull market periods. However, ETH has consistently underperformed since the bear markets of 2018-2019 and 2022-2023. In the 2024 halving year, for the first time, Ethereum is considerably trailing behind Bitcoin. In fact, it has been underperforming against Bitcoin for the past three years. Table of Contents ETH/BTC ratio plummets to 3.5-year low Ethereum supply reverses course and turns inflationary. Negative ETF Flows Continue Conclusion ETH/BTC ratio plummets to 3.5-year low Although fractals, a concept where similar patterns repeat…

The VeChain and WoV Labs partnership aims to revolutionize digital ownership through blockchain-powered digital passports, enhancing transaction security and offering exclusive benefits via NFTs. This collaboration simplifies the blockchain experience, driving market performance and sparking discussions about the future impact of integrating blockchain with traditional media. When it comes to data and transaction security, VeChain has been at the forefront with its tokenized authentication solution, Digicardkey, as reported in a previous CNF post. Recently, VeChain and WoV Labs have introduced a Blockchain-Powered Digital Passport for Authenticity Verification. In today’s CNF YouTube video, it is explained that the partnership aims to…

U.S. Representative Maxine Waters (CA-D), a formidable force in U.S. politics, has long been a key figure in the financial regulation landscape. As the former Chair of the House Financial Services Committee (HFS) and the current ranking member, Waters is known for her cautious and critical approach to cryptocurrency, often emphasizing the need for strict regulation to protect consumers and maintain financial stability. In the wake of the 2022 crypto contagion season marked by the FTX scandal, a crypto bear market and several industry bankruptcies, Waters called for greater scrutiny and control by regulators and Congressional oversight committees. However, this…

ELFi Protocol, a decentralized derivatives trading platform, has announced its expansion to Arbitrum, marking a significant advancement in its growth strategy. The announcement, made through the platform’s official Twitter account, reflects ELFi’s commitment to broadening its reach and enhancing its offerings to users worldwide. 🎉 Exciting Announcement: @ELFiProtocol now supports #Arbitrum! 🚀🧚 https://t.co/P0rf43NrIH 🧚This marks another significant milestone for ELFi, following strategic investments from IDG Capital and Kucoin Ventures in May 2024.As a decentralized derivatives trading platform,… pic.twitter.com/DJY45PPFEk — ELFi Protocol (@ELFi_xyz) August 28, 2024 According to the firm’s report, this expansion follows strategic investments from IDG Capital and Kucoin…

In a significant development in the tech industry, decentralized compute network io.net has announced a groundbreaking partnership with Chainbase, an AI-specialized omnichain data network. This collaboration aims to push the boundaries of artificial intelligence (AI) and blockchain technology by combining their respective strengths to create a robust decentralized AI and data stack. A Strategic Alliance for Decentralized AI Advancements The partnership between io.net and Chainbase is set to explore several synergies, with a shared objective of advancing AI modeling and enhancing the efficiency of blockchain-based systems. At the core of this collaboration is Chainbase’s crypto world model, Theia, which is…

According to the latest data collected on Aug. 16, 2024, the 12 spot bitcoin exchange-traded funds (ETFs) collectively hold around 910,153.83 BTC, which translates to over $53 billion at the current exchange rates. Leading the pack is Blackrock’s IBIT, holding the largest portion with 38.34% of the total BTC. 12 Spot Bitcoin ETFs Close in on Holding 1 Million BTC The 12 U.S. bitcoin ETFs have scooped up a substantial portion of the circulating BTC, absorbing hundreds of thousands of coins since Jan. 11, 2024. It’s noteworthy that Grayscale’s GBTC had already amassed a significant amount of BTC before evolving…

The events that marked this weekend included the arrest of Telegram and Toncooin (TON) founder Pavel Durov in France, while the $94 million sale made by the Ethereum Foundation came second. Ethereum Foundation (EF) Executive Director Aya Miyaguchi said that the $94 million transfer of 35,000 ETH was not a full-fledged sale, but was part of routine treasury management activities required to fund the foundation’s annual budget. While the ETH Foundation’s $94 million transfer continues to be talked about, blockchain platform Arkham Intelligence compared past ETH sales. Drawing attention to the sales he made in 2020 and 2021, Arkham stated…

Web3 Foundation and Parity Technologies, key players in the Polkadot ecosystem, have disclosed their financial independence from the network’s on-chain treasury. The CEOs of the two companies revealed their “significant financial runway” after recent reports raised concerns about the blockchain’s financial health. Parity Technologies is the blockchain infrastructure behind Polkadot, and the Web3 Foundation supports the network’s growth through funding and research. Financial independence Fabian Gompf, CEO of Web3 Foundation, clarified that the foundation has over five years of financial runway without selling DOT tokens. Gompf further dismissed the concerns about the treasury as misleading, noting that “the treasury has…