Author: NBTC

Ethereum’s price did not rise in tandem with the excitement and $1.112 billion in trading volume that occurred in the first few days. Strong investor interest was there from the $106 million net inflow, as well as impressive numbers from ETFs like Bitwise’s ETHW ($204 million) and BlackRock’s ETHA ($266.5 million). But the market was also under strong selling pressure thanks to the $590 million net inflow that remained after subtracting withdrawals from Grayscale’s ETHE. This sudden change in price was caused by a number of factors. To begin with, there was a chance that a buy-the-rumor, sell-the-news situation resulted…

The Bank of England said it plans to carry out a series of experiments on a wholesale central bank digital currency and distributed ledger technology. It will also experiment to ensure that the “singleness of money” is maintained with stablecoins and tokenized deposits. The Bank of England said it’s planning a series of experiments with distributed ledger technology (DLT) and wholesale central bank digital currencies (wCBDC) to keep abreast of changes in the payments landscape and assess the opportunities and risks of developments in financial technology. The rise of cryptocurrencies and the DLT that underpins them has prompted central banks…

Today, enjoy the Lightspeed newsletter on Blockworks.co. Tomorrow, get the news delivered directly to your inbox. Subscribe to the Lightspeed newsletter. Howdy! Welcome back to the forty-fourth edition of Lightspeed, where we can’t airdrop you tokens, but we will airdrop you knowledge, insight and generally good vibes. Oh, and your allocation is always 100%. Anyways: Sanctum airdrop backlash Over the past several months, crypto — and Solana in particular — has seen a series of high-profile airdrops, as buzzy projects debuted native tokens. These tokens are often distributed to users based on ‘points’, which are doled out for using the…

Bitcoin’s price is finally showing some signs of recovery. The questions to now consider are whether the recent correction is over and if new all-time highs are still possible. Let’s dive in. Technical Analysis By TradingRage The Daily Chart On the daily chart, the price has been trending down since it failed to break above the $75K mark earlier in June. However, the $60K support level has so far proven to be solid, preventing it from dropping any lower. Considering yesterday’s bullish candle, the market might be constructing a bottom near the $60K mark and could soon begin a new…

Spot Ethereum ETFs outperformed expectations, experiencing inflows of $107 million on the first day of trading. Most market analysts expect Ethereum to first decline and then rise in the short term, as is the case with Bitcoin. So, what are the expectations of important names in the industry about the spot Ethereum ETF performance and ETH price? Citibank analysts expect net inflows into spot Ethereum ETFs to potentially range from $4.7 billion to $5.4 billion in the first six months. JP Morgan estimates that inflows to ETH ETFs will be $3 billion this year. According to Bernstein analysts, there will…

Nigeria’s central bank digital currency, known as the eNaira, was the first of its kind in Africa. However, it currently represents only about 0.36% of the total currency in circulation. Nigerian experts attribute the slow adoption of the e-naira to its perceived lack of significant benefits compared to the traditional naira. E-Naira Adoption Lags Despite Token Surge Almost three years after its launch, the Nigerian central bank digital currency (CBDC) accounts for only 0.36% of the currency in circulation, according to data from the Central Bank of Nigeria (CBN). Nevertheless, the data indicates that the NGN 13.98 billion e-naira tokens…

KraneShares has introduced AGIX, an exchange-traded fund (ETF) designed to mirror the performance of companies developing and implementing AI technologies. The fund focuses on three main areas: hardware, infrastructure, and applications. The ETF has an annual operating expense of 1%. What’s so special about KraneShares’ AGIX ETF? The recent launch of KraneShares’ AI-themed ETF AGIX comes at an interesting time as prominent AI stocks like Nvidia, Broadcom, and AMD experience significant drops from their all-time highs. Despite this market dip, the demand for AI technology remains robust, suggesting a promising future for AGIX. Brandan Ahern, CIO of KraneShares, emphasized the…

BTC forms a bullish giant Cup and Handle pattern, signaling a potential bullish continuation. The C&H pattern forms after a strong rally, with a rounded bottom (the cup) followed by a smaller consolidation (the handle). Despite the bullish projection, Bitcoin faces short-term bearish conditions. Social media FUD and recent selloffs pose risks. Bitcoin has formed a giant cup and handle (C&H) pattern, as the post below suggests. This pattern is a bullish continuation signal that resembles a teacup on a chart. $BTC [3D] – Update of Cup with Handle targeting $300k+ 🧨👀 pic.twitter.com/P8DowgQeAA — Gert van Lagen (@GertvanLagen) July 1,…

The expected rally in Bitcoin and altcoins never came. While BTC was moving in a narrow range, spot Ethereum ETFs opened for trading yesterday. While market analysts generally expect a sell event in Ethereum and the price to fall, Capo of Crypto, who is known for his bearish views and is frequently criticized by investors with his bearish comments, shared his expectations for Ethereum and the altcoin market. Il Capo, who first analyzed Ethereum, argued that ETH is ready to reach the new ATH. At this point, the analyst drew attention to the ETH chart and stated that ETH was…

Binance Labs, the venture capital and incubation arm of Binance, the world’s largest cryptocurrency exchange, continues to invest in new cryptocurrency projects. At this point, Binance Labs announced the latest cryptocurrency projects selected for the 7th season of the incubation program. Which Cryptocurrency Projects were Selected? Binance Labs announced the first batch of projects accepted into the Season 7 Incubation Program on X. These projects include decentralized exchange Astherus, bridgeless aggregate liquidity network Cycle Network, sharding-based data availability network Dill, and EigenLayer’s first native DeFi protocol Eigen Explorer. “We are excited to announce the first group of projects we have…