Author: NBTC

After a rough start to the week, Tuesday brought a modest rebound across the crypto market, with nearly every single token in the top 100 coins by market cap seeing gains over the prior day. But the upward bump has triggered over $92 million in liquidations in the past 24 hours—$62 million in short positions, according to CoinGlass data. The price of Bitcoin is trading up 2.7% at $61,746 and the price of Ethereum up is 1.8% at $3,394 over the past 24 hours, as of writing, with top performers over the past day including meme coins Pepe and Dogwifhat,…

While there was a decline in Bitcoin and altcoins due to the Japanese Yen-USD parity, Coinshares published its weekly cryptocurrency report. Stating that there was an outflow of 528 million dollars in cryptocurrency investment products last week, Coinshares said that Bitcoin experienced an outflow for the first time after 5 weeks of inflow. “Cryptocurrency investment products saw a total outflow of $528 million for the first time in 4 weeks in response to US recession fears, geopolitical concerns and the resulting general market liquidations across most asset classes. “Ethereum has seen a total outflow of $146 million, with net outflows…

This past week has seen a noteworthy shift in the dynamics of blockchain usage, as highlighted in the latest report by Ankr, a leading developer platform for Web3 applications. According to data gathered, the Polygon network has notably outpaced its competitors, leading the chart with a staggering 2.5 billion Remote Procedure Call (RPC) requests. This surge in RPC requests not only signifies Polygon’s robustness and scalability but also underscores its increasing adoption among developers and users seeking efficient and cost-effective blockchain solutions. Ankr’s announcement emphasizes the changing tides in blockchain preferences and the critical role RPC activity plays in understanding…

In its most recent analysis, cryptocurrency research and data analytics firm Glassnode looks at attempting to recover from recent lows as it tries to reclaim the previous all time highs (ATHs). The report emphasizes the influence of various Bitcoin holder cohorts on the market dynamics today. Glassnode claims that distinguishing the dynamics of long-term and short-term holders is necessary to speculate how a collective market might move. Glassnode has provided an in-depth analysis of the broader supply and demand determinants underlying the Bitcoin ecosystem. Using newly created metrics, the firm conducts an extensive analysis of the impact that long-term investors…

Crypto prices and stocks related to crypto plummeted on Monday as global markets reacted to disappointing US economic data and escalating tensions in the Middle East. The downturn affected major cryptocurrencies, mining companies, and crypto-focused businesses. Bitcoin, the largest crypto by market capitalization, experienced a sharp decline of up to 15%, briefly falling below $50,000 for the first time since February before recovering to around $51,000. Ether, the second-largest cryptocurrency, continued its downward trend for the seventh consecutive day, marking its most significant drop since at least May 2021. Global market downturn The broader crypto market saw a substantial decrease…

PEPE is among top gainers in the market as it’s on the verge of claiming key support zone. FLOKI, WIF and MOG post over 20% gain, offsetting previous losses. The meme coin sector is up more than 12% following the market recovery. Meme coins are leading the crypto market again as the ripple effect of Bitcoin’s recovery is flowing across major crypto categories. PEPE, WIF, FLOKI and MOG are at the forefront of the recovery, elevating their daily performance above the 20% mark on Monday. PEPE, WIF, FLOKI, MOG lead market are largest gainers After a heavy bloodbath across the…

Spot Bitcoin ETFs have entered another disturbing trend, recording outflows for one week straight. These outflows have coincided with the decline in the Bitcoin price, suggesting that the sell-offs may be directly linked to institutional sell-offs, as well as miner sell-offs. The funds have now completed seven consecutive days of outflows, so this report takes a look at what happened the last time that the outflows were this high. Spot Bitcoin ETFs Lose Money For 7 Straight Days According to data from Coinglass, Spot Bitcoin ETFs have now marked their 7th consecutive day of outflows. An interesting fact about the…

Jump Crypto was one of the most active traders on Sam Bankman-Fried’s FTX and Do Kwon’s Terra/Luna/Anchor platforms. However, after losing at least $300 million after the collapse of FTX and untold civil ramifications for its role in Terra LUNA’s demise, Jump’s crypto heyday has passed. It has liquidated various DeFi positions on platforms like Lido and is sending tens of millions of dollars in proceeds to centralized exchanges. Jump is facing at least two class action lawsuits and a Commodity Futures Trading Commission (CFTC) investigation. Blockchain evidence from the weekend indicates that it might be trying to raise cash.…

Binance, the world’s largest cryptocurrency exchange, has made significant investments in various projects. These projects span categories such as BTC ecosystem, Gaming, Layer 1 (L1), Layer 2 (L2), DeFi and Liquidity Staking Derivatives (LSD). Here’s a look at potential Token Generation Event (TGE) projects that Binance has invested in and may distribute tokens in the second half of 2024: Babylon (BTC ecosystem): Binance Labs invested $96 million on February 27, 2024. Xterio (Game): An investment of $55 million was made by Binance Labs on July 13, 2023. Movement (L1): Binance Labs invested $41.4 million on May 1, 2024. Tabi (L1):…

Bitcoin’s ‘Banana Zone’ signifies a phase of rapid price escalation, drawing market and investors interest. Bitcoin’s Banana Zone highlights its rise as rules-based money versus traditional fiat’s debt-based model. Robert Kiyosaki shifts stance on Bitcoin, reflecting market volatility and the importance of long-term investment strategies. Raoul Pal terms of Bitcoin hitting ‘the Banana Zone’ have been echoed by financial advisor Robert Kiyosaki. The Banana Zone refers to a dramatic upward surge in Bitcoin’s price, leading to significant interest and market activity. Pal’s credibility, backed by his experience at Goldman Sachs and successful investment advice, supports his claims. Is the Banana…