Author: NBTC

Recent reports show significant growth within Ethereum’s Layer 2 (L2) ecosystem. According to Leon Waidmann, head of research at the Onchain Foundation, over $10 billion is now locked in Ethereum L2 solutions. This figure more than doubles Solana’s $4 billion, emphasizing Ethereum’s expanding dominance. With Layer 2 adoption accelerating, the impact is expected to be reflected in Ethereum’s price as the L2 ecosystem plays an increasing role in enhancing Ethereum’s utility. Waidmann also shared that Ethereum’s Layer 2 user base has hit an all-time high. Over 10 million active addresses were recorded, marking a 35.23% increase in the past week.…

For the second time this week, Shiba Inu (SHIB) has recorded a bump in its burn rate. This metric is essential as it helps get the coin to a level where a significant number is taken out of circulation. Shiba Inu burn rate Recent data from Shibburn shows the token’s daily burn rate grew by 1,088%. This saw the removal of 98,136 SHIB from circulation. These tokens have been sent to inactive addresses, which will become permanently unavailable for spending. The 98,136 SHIB tokens burnt were from a single transaction from the wallet address with the mark “0x811954f.” As noted,…

Prominent lawyer focused on cryptocurrencies, James Murphy, also known as MetaLawMan across his social media handles, took shots at the United States Securities and Exchange Commission (SEC) for its “weird” approach towards the regulation of digital assets in the country. In a post on social media platform X (previously known as Twitter), Murphy talked about the footnotes in the Binance vs. the SEC lawsuit wherein the regulator said that it “regrets” any confusion that it might have stirred by terming cryptocurrencies as securities. The agency then added that by securities it meant the “full set of contracts, expectations, and understandings…

Bitcoin (BTC) has crashed again below the $60,000 technical and psychological support following macroeconomic developments and recession fears. The negative price action has created significant resistance to BTC, with a massive volume of potential selling walls that Bitcoin must overcome to seek higher grounds above $70,000. Finbold retrieved on-chain data from IntoTheBlock on August 4, seeking to identify potential seeling walls and price resistance. In particular, we looked at the BTC volume that is out of the money at each price range. These Bitcoin holders could be more willing to sell at a breakeven price to risk-off amid global uncertainties.…

Ethereum is currently priced at $2,300 as of Sept. 16, 2024, fluctuating between $2,261 and $2,416 over the past day. With a market cap of $277 billion and a trading volume hitting $15.46 billion in the last 24 hours, ether is giving traders a mix of signals. Technical charts present a predominantly bearish outlook, but there are hints of potential short-term gains. Ethereum On the 1-hour chart, ethereum recently dropped from $2,428 to $2,251, then settled into a sideways pattern around $2,300. Notably, the trading volume spiked at the $2,251 level, hinting at the possibility of a short-term bottom. If…

Registered securities firm Prometheum intends to take custody of customers’ UNI and ARB as securities when it gets rolling, adding them to its existing plans for Ethereum’s ether. While the crypto industry fights the Securities and Exchange Commission’s stance on tokens as securities, Prometheum is still seeking a road to comply with the agency’s view. The company intends to open its custodial doors in earnest in September. Prometheum is forging ahead with its strategy to comply with the U.S. Securities and Exchange Commission’s view on cryptocurrency transactions by letting two more tokens into its custody operation for crypto securities, whether…

A bitcoin investor has pleaded guilty to underreporting his cryptocurrency gains, including $3.7 million from BTC sales, resulting in a tax loss to the Internal Revenue Service (IRS) of over $550,000. The Department of Justice emphasized that taxpayers must accurately report crypto transactions to the IRS. The bitcoin investor now faces up to three years in prison, along with fines, restitution, and supervised release. Bitcoin Investor Pleads Guilty to Tax Fraud on Cryptocurrency Gains The U.S. Department of Justice (DOJ) announced on Thursday that an early bitcoin investor has pleaded guilty to “filing tax return that falsely reported his cryptocurrency…

Bitcoin’s price dropped by over $10,000 in a week amid unfair policies and market instability. The Federal Reserve’s high rates have shifted cryptocurrency investment away,, contributing to Bitcoin’s current market trend.. High outflows from Bitcoin ETFs have triggered the price drop, pushing Bitcoin below $60,000. Just over a week, Bitcoin has recorded a notable price fall totalling to more than $10,000. The fall has sent a shockwave to the investors of digital assets. Bitcoin shifted from $70,000 to under $60,000 in just seven days. The stable cryptocurrency market was hit once again this week from different sides with many reasons…

Ethereum (ETH) is seeing intense bearish pressure today along with the broader crypto market. Moreover, recent whale movements are adding to this negative sentiment on the market. At a time when ETH needs support from its long-term holders, it appears that a big chunk of them are abandoning it. Per Whale Alert, there was a big transfer of 17,822 ETH earlier today. These coins were transferred from an unknown wallet of a whale to Binance, the largest crypto exchange on the market. Notably, this transfer is worth around $41.27 million based on the price of ETH at the time of…

The Daddy Tate (DADDY) meme coin, associated with controversial influencer Andrew Tate, experienced a sharp decline following a police raid at his residence. Known for his controversial remarks, Tate faces charges of human trafficking and forming a criminal gang to exploit women sexually. Early Wednesday, masked officers raided four properties in Bucharest and Ilfov led by Romania’s anti-organized crime agency, DIICOT. Andrew Tate’s DADDY Meme Coin Under Hot Water These raids were part of an investigation into serious allegations, including the trafficking of minors. After the raid was over, Tate contested the charges on social media. “The ‘minor’ they are…