Author: NBTC

The latest rankings of decentralized finance (DeFi) projects based on social activity clarified their engagement levels. The insights reflect the increasing significance of community interactions in determining project relevance in the rapidly evolving crypto landscape. Phoenix, a crypto analytical platform, shared the report highlighting the details of top DeFi projects through its official X account. TOP #DEFI PROJECTS BY SOCIAL ACTIVITY$SOL $XRP $AVAX $LINK $HBAR $INJ $EGLD $FLOKI $RENDER $STX pic.twitter.com/amwHzDogXB — PHOENIX – Crypto News & Analytics (@pnxgrp) September 28, 2024 Solana Dominates the Rankings Recent data from Phoenix Group reveals Solana ($SOL) stands at the forefront, boasting 102,111…

On October 10, Christie’s London will host an auction for “Ascend”—a 1-of-1 piece of dynamic digital artwork inscribed on Bitcoin’s Ordinals protocol—during its Post-War and Contemporary Art Day Sale. It will be the only digital artwork in the sale. This event will mark the first-ever Bitcoin Ordinal to appear in a live auction at Christie’s, bridging the gap between the traditional and digital art worlds. “Ascend” is a part of “The Wild Within” project created by artists Ryan Koopmans and Alice Wexell. The series revitalizes architectural ruins through a digital medium, combining photography with advanced 3D techniques to breathe new…

For investors and analysts, Head of Macro Research Julien Bittel’s prediction that Ethereum could reach $20,000 is an intriguing one. The basis of Bittel’s analysis is Ethereum’s current market structure, which resembles previous movements observed in 2023 and may repeat bullish trends. According to the provided chart, Ethereum’s price action is exhibiting signs of consistent accumulation, which may be the start of a significant breakout. According to Bittel’s forecast, prices will rise parabolically and resume their historical pattern. As long as current support levels hold, the chart suggests that Ethereum might have an upward trajectory, particularly if the market continues…

In just 40 days, the U.S. Federal Open Market Committee (FOMC) will gather to decide whether the central bank will lower the benchmark interest rate. This pivotal moment occurs two days after the 2024 U.S. Election Day. As it stands, CME futures data suggests that a half-point reduction is currently viewed as more probable than a quarter-point adjustment. Prediction Markets and Fedwatch Tool Split on Rate Cut Forecasts As of Sept. 28, 2024, the CME Fedwatch tool reveals that the likelihood of a 50 basis point cut outweighs the odds of a 25 basis point reduction. The half-point trim currently…

According to data from cryptocurrency analysis platforms, there are some interesting developments in the list of blockchains with the highest number of daily active users. First on the list is, unsurprisingly, Tron (TRX). Tron is the preferred choice for users due to its low transaction fees and speed. Tether (USDT) transfers are extremely popular on the network, and almost all stablecoin transfers are made on Tron. Users who want to keep dollars, especially in third world countries, also keep their USDT on the Tron network. The Tron network has an average of 2.3 million daily active users. Interestingly, the second…

On April 30, US District Judge Richard Jones sentenced Changpeng Zhao (CZ) to four months in prison, with CZ scheduled to serve his sentence at the end of May. CZ’s sentence was originally scheduled to end on September 29, but according to Forbes, he could be released on September 27, two days before his official release date. Because according to US law, if a person’s release date falls on a weekend, inmates are allowed to leave prison early. At this point, the law allows CZ to be released two days earlier, today, because his release date falls on a weekend.…

San Francisco is actively embracing cryptocurrency, with several businesses in the city now accepting digital currencies and over 400 crypto ATMs available for residents and visitors alike. San Francisco’s Bay Area is also home to Ripple Labs, Chainlink Labs, Robinhood Markets, Compound Labs, the decentralized music streaming service Audius, BitGo, Near Protocol, and Oasis Labs. According to Coincub, there are over 100 crypto-accepting businesses in San Francisco, with crypto-friendly banks like Kraken, Series FI, Anchorage Digital, and Juno Bank having headquarters in the city. San Francisco’s early embrace of cryptocurrency goes back to the inception of Bitcoin. The city served…

Bitcoin surged to $66k today, setting a fresh two-month high and marking its best performance ever in September. This rally comes as global economic factors and institutional demand combine to drive the token price upward. Bitcoin’s price increase mirrors the sharp rise in Chinese stocks, fueled by China’s recent economic stimulus measures. The Shanghai Composite Index recorded its best week since 2008, thanks to the stimulus, which also boosted BTC by 3% week-to-date. “This feels frighteningly familiar,” commented trading resource The Kobeissi Letter on the sudden market rise. In the US, the FED’s recent 50-basis-point rate cut, announced on September…

In the past 24 hours, two major Ethereum holders have collectively moved 12,100 ETH, valued at $31.7 million, to centralized exchanges. This activity is part of a broader pattern over the last three days, where these entities have unloaded a total of 20,610 ETH, worth approximately $53.6 million. The large-scale transfers have sparked significant attention, raising concerns over potential selling pressure on the market. These two major players further moved 12,100 $ETH ($31.7M) to exchanges in the past 24 hours!In total, they have unloaded 20,610 $ETH ($53.6M) over the last 3 days, including:👉 Ethereum ICO whale “0xb8c” sent 8,510 $ETH…

A select group of Russian companies, including electronics producers and financial institutions, has received approval to use cryptocurrencies for Chinese imports under a pilot legal framework. Overseen by Russia’s central bank and the Ministry of Finance, this initiative targets firms handling dual-use products and facing challenges with international payments, particularly with China. Russian Firms Explore Crypto for Chinese Imports Under Strict Oversight A select group of Russian firms has been granted permission to utilize digital currencies for paying Chinese imports under a pilot legal framework. This group consists of electronics producers, financial institutions, and specific members from the Russian Chamber…