Author: NBTC

Bitcoin price gained bearish momentum and traded below $60,000. BTC is signaling a short-term downtrend and might face hurdles near $62,000. Bitcoin started a fresh decline from the $62,550 resistance level. The price is trading below $61,500 and the 100 hourly Simple moving average. There is a key bearish trend line forming with resistance at $62,400 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could correct higher, but upsides might be limited above the $62,000 resistance zone. Bitcoin Price Nosedives Bitcoin price failed to recover above the $63,500 level. BTC struggled above $63,000 and…

Donald Trump Jr., son of former US President and new Presidential candidate Donald Trump. and Eric Trump announced that they were working on a new cryptocurrency project in the development they shared a few hours ago. Claiming that they would shake up the cryptocurrency world with a “major development”, the duo announced that decentralized finance (DeFi) was the future. Now, some researchers have found new information about the details of this project. Steve Witkoff was recently spotted using the same hashtag that Donald Trump used to promote his sons’ cryptocurrency projects before the promotion. Steve Witkoff is a well-known real…

On August 5, 2024, ethereum’s price action has been dominated by strong bearish sentiment across multiple timeframes. While short-term consolidation suggests some indecision, the overall market indicators point towards continued downward pressure. With critical support levels approaching, traders should exercise caution as the market searches for stability. Ethereum Ethereum’s price is facing significant downward pressure as revealed by the 1-hour, 4-hour, and daily charts. The 1-day chart indicates a pronounced downtrend, with the price having peaked at approximately $3,565 before declining to around $2,017. The strong selling activity, as evidenced by large red candles and a volume spike during the…

The Ethereum layer-2 (L2) scaling solution of Shiba Inu ecosystem Shibarium is in the community’s spotlight, as many users have hinted at the improving interface for the protocol. Specifically, executive member LucieSHIB amplified conversations regarding the bridge from community members, a trend that has boded well for ecosystem tokens. SHIB, BONE, LEASH in trigger mode With the increasing embrace of the Shibarium bridge, the positive sentiment has trickled down to trigger bullish sentiment in Shiba Inu (SHIB), Doge Killer (LEASH) and Bone ShibaSwap (BONE). Based on market data, the trio is on a bullish rally, with SHIB jumping by 3.61%…

Metaverse land prices have fallen nearly 95% from their peak values, according to a CoinGecko report. In 2024, the cost of metaverse lands ranged between 0.08 ETH and 1.88 ETH, representing an average 72% drop from their all-time high. Over the years, the price drops compared to their peaks were 34% from 2023 and 55% from 2022. Among the various metaverse projects, Sandbox has experienced the most notable decline. Its average floor price fell from 2.86 ETH in 2021 to 0.13 ETH in 2024, marking a 95% decrease. Conversely, NFT Worlds, which rebranded to TOPIA Worlds in 2023 under the…

Fred Krueger, a leading analyst and one of Bitcoin’s strongest advocates, recently shared his views on the potential impact of collapsed cryptocurrency exchange Mt Gox’s Bitcoin distribution on the market price. According to Krueger, Mt Gox will distribute approximately 100,000 Bitcoins starting in July. Research firm Galaxy estimates that 65,000 BTC will go to individual users and at least 6,500 BTC will be liquidated. However, Krueger suggests that the real figure could be twice that, i.e. 13,000 BTC. To put this into perspective, this amount is roughly the same amount that MicroStrategy (MSTR) purchased for $780 million just four days…

The crypto ecosystem is constantly evolving, with Ethereum representing one of the most influential platforms in the sector. However, recently, a significant drop in the number of new Ethereum addresses created has been observed, reaching the lowest level of the year. This trend surprises many analysts, especially at a time when spot ETFs on Ether begin to be traded in the United States. The decrease in new Ethereum addresses Analysis of the possible causes Conclusion The decrease in new Ethereum addresses The decline in the number of new Ethereum addresses is a key indicator of overall activity on the network.…

reported a 17.7% increase in the number of frames rendered by the Render Network in Q1 2024 compared to Q1 2023. This rush demonstrates the increasing demand for Render’s services as well as the network’s ability to scale operations. In addition, the creation of the DePIN protocol on the Solana blockchain marked an important milestone in 2024. Render and Helium have spearheaded this adoption wave, demonstrating their technology’s robust integration and utility within the blockchain ecosystem. Render Network began an ambitious incentive scheme last year with the goal of bringing more GPU vendors to their network. This initiative allocated 1.14…

Bitcoin’s key support levels are under scrutiny as analysts predict potential price declines that could ripple across the cryptocurrency market, according to the latest Forbes analysis. Forbes’ analysis emphasized Bitcoin’s critical support levels that may become relevant if the world’s largest cryptocurrency falls below its current threshold. The predictions, shared by leading industry experts, suggest potential price dips that could reverberate throughout the market. Joe DiPasquale, CEO of BitBull Capital, stated that if Bitcoin breaches the crucial $60,000 support level, it could plummet to $50,000. This suggests a cautious outlook for the broader market, as Bitcoin’s price movements often influence…

Vitalik Buterin, who cofounded Ethereum, recently made an optimistic prediction about the future of the ecosystem. He thinks that solutions to cross-L2 interoperability issues will soon transform the user experience across the network, including L1, rollups and sidechains. He believes there is a lot of energy and determination within the community to make this vision a reality. Interestingly, Buterin’s comments on the Ethereum ecosystem came amid one of the biggest market collapses of all time, when the price of ETH itself lost 25% in the last five days, and 20% at its peak in the last 24 hours. The liquidations…