Author: NBTC

James Fickel reduces ETH/BTC exposure, swaps 5K ETH for WBTC. Fickel faces $38.5M loss after aggressive ETH/BTC trades. James Fickel, founder of Amarnath and known for his bullish stance on the ETH/BTC trading pair, has swapped another 5,000 ETH, valued at $11.3 million, for 204.8 WBTC at a 0.041 ETH/BTC rate over the past six days. This move follows his earlier actions on August 11, when he swapped 10,000 ETH ($26.1M) for 425.8 WBTC to repay a loan on Aave. Fickel, once an ETH/BTC permabull, stopped increasing his long positions since August 11, having swapped 15,000 ETH ($37.4M) and 12M…

SunPump has generated over $1 million in under two weeks by enabling users to create and trade meme coins easily. It has seen significant activity with over 7,300 tokens created in 24 hours, earning substantial revenue. Early investors in meme coins like SUNWUKONG and SUNDOG have seen massive returns, with one trader turning $1,000 into $400,000. The virality has led to record revenues for the underlying Tron network, which crossed $3.48 million in two days and positively influenced the price of TRX and related assets. Merchants made fortunes by selling shovels during the gold rush, and the crypto market is…

HTX has announced a collaboration with IBEX, a fintech company promoting innovations on the Bitcoin Lightning Network. This collaboration aims to promote faster, more affordable Bitcoin transactions while targeting emerging markets, including Asia, Latin America, and Africa. Both companies seek to enhance digital asset payments for consumers and merchants by integrating Lightning Network technology. HTX, a global digital asset platform, plans to integrate IBEX’s Lightning Network into its ecosystem. The network, a second-layer protocol for Bitcoin, enhances transaction speed and reduces fees. The integration, currently in its testing phase, promises to improve the overall user experience by offering faster transaction…

If you weren’t there in person, it would be hard to accurately describe how long and winding the line was to see Donald Trump speak at the Bitcoin conference. The wait to even pass through security and find a seat in the auditorium was hours long and thousands of folks were scrambling to find seats at the Nakamoto Stage early in the day. As the line snaked through the expo hall, it was easy to find an even distribution of Bitcoiners and Trump supporters (some were both) all eager to hear Trump speak. There was an excitement in the atmosphere,…

The $2,400 Maxpain for ETH options reveals the possibility of Ethereum’s price being pulled down towards that level as expiration nears. This is a bearish market since the Put Call Ratio is at 0.73, and a preference for call options usually indicates that investor expectations are positive. Thus, the expiration of 127,000 ETH options, valued at $298 million, will be a crucial event in the crypto derivatives market. A large expiration event has occurred in the Ethereum (ETH) options market, where over 127K ETH options with a total notional value of nearly $300 million are set to expire. This considerable…

Ripple’s stablecoin Ripple USD (RLUSD) is making progress in its beta testing on Ethereum and the XRP Ledger (XRPL). Ripple issued 185 RLUSD at 21:38 UTC as part of its beta testing, causing a stir among community members. This marks the first time that Ripple has officially issued 185 RLUSD during its beta testing. The transaction has raised questions about transaction fees and the role XRP will play in relation to RLUSD. Vet on the X social network responded that transaction fees are minimal and that the greater benefit RLUSD brings is in improving the XRPL ecosystem rather than speculating…

Binance Charity will airdrop up to $1M in BNB to registered Binance users in Vietnam that were identified as living in the areas affected by Typhoon Yagi. Affected users will be identified on the basis of their POA (proof-of-address) information. For the airdrop to be valid, they should be staying in one of the 25 cities in Northern Vietnam that has been impacted by the Typhoon. As per the official statement, “Users who have completed POA before September 10, 2024, in these 25 cities will receive $50 worth of BNB directly to their Binance accounts.” Moreover, if affected users might…

The cryptocurrency market is experiencing one of its strongest sell-offs in months today (Monday), testing levels not seen since the beginning of 2024. Bitcoin (BTC) has shed 25% of its total value in just 4 days, shrinking by $320 billion. The rest of the cryptocurrency market lost practically the same amount. Bitcoin’s price is falling by nearly 14% during Monday’s session, testing levels below the psychological support of $50,000. This is BTC’s lowest price point since February and marks the fourth day of very strong selling pressure. In total, the price has contracted by 25%, or about $16,000. In dollar…

Ethereum faces sustained bearish pressure with declining market volume and volatility. Whales steadily accumulate ETH, indicating long-term bullish expectations. Ethereum, the leading altcoin, has experienced a sustained bearish trend, with a 14% decline in the past month. Currently trading at $2,353, the cryptocurrency saw a modest dip of 0.31% over the past 24 hours, while its trading volume plummeted by 30%. This comes with the overall market volume dropping by 19%. According to Greeks.live, 127,000 ETH options are set to expire, with a Put Call Ratio of 0.73, a Max Pain point at $2,400, and a notional value of $298…

Mercado Pago, the digital banking arm of Latin America’s largest e-commerce company Mercado Libre (MELI), said on Wednesday that it is introducing a US dollar-pegged stablecoin in Brazil. The company said that Mercado Pago users in Brazil will be able to buy and sell the Meli Dollar stablecoin using their Brazilian real account balances, without paying any fees. The product, the firm said, aims to provide a practical and stable option for managing finances. In August 2022, Mercado Libre launched its Mercado Coin cryptocurrency to allow users to make purchases on the marketplace and earn cash back. Prior to that,…