Author: NBTC

CryptoPunks make it three straight by topping CryptoSlam’s daily non-fungible token (NFT) sales chart with US$1.29 million on Wednesday. CryptoPunk’s streak comes as community members speculate that the iconic NFTs are declining in value. This week, investor Deepak Thapliyal announced the sale of Punk #5822, which was once valued at US$24 million. Thapliyal unloaded the CryptoPunk for an undisclosed amount, but community members speculate that it was sold at a loss for around 5,000 Ether (US$12.8 million). CryptoPunks witnessed a total of 15 transactions Wednesday, involving 11 unique buyers and 13 sellers, with an average sale price of US$86,582. CryptoPunks’…

Bharat Ramamurti, a former deputy director of the White House National Economic Council, called on the Fed to make a significant rate cut in September and criticized the central bank’s decision to keep rates steady in July. Ramamurti said the Fed “made a mistake” by not cutting rates earlier and that he believes a 50 basis point cut is necessary to address rising risks to price stability and inflation. He cited current labor market data, such as hiring trends, quit rates and jobless claims, as evidence of pressure building in the labor market. However, Ramamurti does not foresee a sudden…

The most popular and biggest meme cryptocurrency, Dogecoin (DOGE), has had a homecoming of sorts with a new listing on the world’s largest crypto exchange, Binance. It is all about pegging DOGE to the Japanese yen, and more importantly, on a global platform rather than the Japanese wing of the black-and-yellow crypto giant. The listing of Dogecoin to JPY on Binance was announced yesterday, but trading only went live today. From the start of trading, the price of DOGE in yen jumped more than 13%, as the chart shows. However, it quickly stabilized to prices that are in line with…

Canaccord raised its Cipher Mining price target to $7 from $6 while maintaining its buy rating on the shares. The company’s bitcoin mining business remains a standout in the sector, the report said. The miner has real artificial intelligence optionality with its recently acquired Reveille data center site, the broker said. Cipher Mining’s (CIFR) bitcoin (BTC) mining business remains a standout in the sector in terms of exahash growth, operating performance and low power costs, broker Canaccord said in a research report on Wednesday. The broker raised its price target for the bitcoin miner to $7 from $6 while maintaining…

The crypto market is experiencing significant price movements, with Bitcoin soaring 126% and Ethereum climbing 53% year-over-year. Despite these gains, retail investors are facing uncertainty as many trending tokens and projects struggle to show substantial returns. Experts emphasize the importance of investing in blockchain ecosystems that provide sustainable business opportunities, rather than chasing speculative token trends. Explore the current state of the crypto market, where retail investors are seeking viable opportunities beyond speculative trends, amidst significant year-over-year gains in Bitcoin and Ethereum. Market Dynamics: The Shift in Retail Investor Sentiment In the evolving crypto landscape, retail investors find themselves caught…

Crypto investors are pouring hundreds of millions of dollars into Bitcoin (BTC) options tied to the upcoming US election, with open interest of around $350 million reflecting strong bullish sentiment. Bitcoin Options Tied to US Elections See $350 Million in Short Selling, Reflecting Bullish Trend These election expiration options began trading on Deribit just over a month ago, four days after the Nov. 4 election. Notional open interest, or the total dollar value of active contracts, currently stands at $345.83 million, according to Amberdata. Most of the interest is concentrated in call options, representing 67% of the total, while the…

The DeFi sector has seen a significant shift this week. As per the data from DappRadar the top DeFi projects based on the total value locked take into account LIDO, Aave V3, EigenLayer, Maker DAO, and Rocket Pool. The data reveals that a substantial jump has taken place in the TVL of these projects. LIDO Leads the DeFi Sector with the Highest TVL This Week LIDO dominates the DeFi market with a total value locked of $27.1 billion. The respective figure reportedly accounts for a 5.86% growth in the TVL of LIDO over this week. Last week, ICPSwap topped the…

Leading NFT marketplace Magic Eden is shaking up its token plans. Months after revealing plans to launch a fungible token with the NFT ticker in alliance with a mysterious organization called the Non-Fungible DAO, Magic Eden announced Thursday that it will stick with its existing branding instead: an ME token from the rebranded ME Foundation. Details on when the ME token will launch and how it will be distributed—including through a potential airdrop to Magic Eden traders who have earned Diamond rewards (aka points)—are still unclear. However, we know that the token will only be claimable through the Magic Eden…

SunPump generates $567,000 in a day, overtaking Pump.fun’s earnings. Key Takeaways SunPump generated $567,000 in revenue from 7,531 memecoins on a single day. SunPump’s daily earnings surpassed PumpFun’s by a significant margin. SunPump, a Tron-based memecoin generator, recently surpassed Pump.fun in daily revenue, marking a significant milestone in the memecoin market. On Wednesday, SunPump generated approximately 3.65 million TRX, equivalent to about $567,000, from 7,531 memecoins launched. This figure outpaced Pump.fun’s revenue of 2,575 SOL, valued over $368,000, from 6,941 tokens. The data, provided by crypto VC firm Hashed, highlights the growing traction of SunPump in the competitive memecoin landscape.…

Russia is planning to launch two new cryptocurrency exchanges, one in Moscow and another in St. Petersburg, to help support foreign trade. These exchanges will likely operate under special legal conditions, but experts are concerned about the challenges they might face due to sanctions and regulatory issues. New Crypto Exchanges for Trade According to Kommersant, Russian authorities are considering setting up two crypto exchanges to assist with international trade. One exchange will use the existing St. Petersburg Currency Exchange, while the other is planned for Moscow. According to Kommersant, Russia plans to create at least two cryptocurrency exchanges, one focused…