Author: NBTC

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,…

Crypto exchange WazirX, one of the most famous among Indian crypto exchanges, has reported crucial data on the current restructuring process via an email to its users. The email sheds light on the further action the team will be taking for the restructuring process. A session on the Moratorium Application is coming up on September 25 2024, at 8:00 IST. The meeting of the hearing is scheduled for the Zoom platform, and the exchange has prompted creditors to fill out their registration and confirm their participation through the WazirX application. Creditor Support Vital for Restructuring Although the Singapore High Court…

Bitcoin (BTC) is priced at $50,193.32 after crashing 17.7% over the past 24 hours, according to CoinGecko. The price went even further down but bounced back near the $49,000 price level, and Bitfinex analysts highlighted that this zone might be a short-term support. “We expect short-term support to be established around the 48,900 region. If there is no bullish momentum, this region may be retested, with the macroeconomic environment determining further price action,” added the analysts. The crypto sell-off is macro-driven. As reported by Crypto Briefing, the trigger for this massive correction appears to be the Bank of Japan’s unexpected…

Ethereum’s price has been trending lower over the past few months but has found support at a critical level. Meanwhile, the market is yet to demonstrate a bullish shift. Technical Analysis By Edris Derakhshi The Daily Chart On the daily timeframe, the asset has recently been rejected from the $2,700 resistance level and has gradually declined toward the $2,200 support zone. While this area has held the price again, the market has yet to display a significant rebound. With the RSI also remaining below 50%, the momentum still favors a bearish continuation. Therefore, a breakout below the $2,200 level remains…

Chainlink can mimic related technological innovations to hit mass adoption. The Oracle protocol is innovating with CCIP, one of its most adopted interoperability solutions. The possibility of Chainlink’s Cross-Chain Interoperability Protocol (CCIP) becoming a standard solution for Web3 projects is growing. Prophet One, a team of crypto enthusiasts, highlighted this possibility along with timelines showcased on charts posted on X. Possible Timeline for Chainlink CCIP Web3 Adoption The first chart posted was the CCIP Aggregate Tokens Transferred. This chart shows the daily average of all tokens sent cross-chain, with CCIP reaching a $900,000 daily average and over 50,000 monthly requests.…

A wallet linked to Alameda Research has transferred a large amount of Bitcoin, as reported by blockchain security firm PeckShieldAlert. Approximately 231.4 BTC, valued at $13.5 million, was moved in the past few hours, with 200 BTC of it being sent directly to Coinbase. This substantial transfer is part of a pattern of movements involving wallets tied to the now-defunct FTX exchange, prompting interest in the purpose of these funds and their potential implications for market liquidity. #PeckShieldAlert #Alameda labeled address has transferred 231.4 $BTC (worth ~$13.5M) out, of which ~200 $BTC was sent to #Coinbase within the last 4…

Matt Hougan, the CIO of Bitwise Investments, is still very bullish on Bitcoin (BTC) despite recent declines in the value of the leading cryptocurrency. Hougan predicted a long-term recovery for BTC while sharing his opinion on the current market downtrend in a post on X. Hougan’s express confidence for Bitcoin Bitcoin recently lost significant value plummeting to the $52,000 price range after climbing to an all-time high of $73,628. This decline follows general market volatility, which also caused the prices of altcoins like Ethereum (ETH) and XRP to plummet. The last time global capital markets panicked was March 12, 2020,…

According to DappRadar statistics, NFT market sales for the last week came to $74.86M. With sales of $5.39 million, an increase of 9.45%, Cryptopunks topped the charts. Another decline in NFT market sales occurred during the last week, with a decline of 7.91% from the prior week. Both the number of buyers and sellers saw significant drops; the former fell by 73.46 percent and the latter by 61.18 percent from the previous week. According to DappRadar statistics, NFT market sales for the last week came to $74.86 million, which is a decrease of 7.91% from the previous week. Although sales…

The story between Charles Hoskinson and Ethereum (ETH) recently resurfaced in the crypto space, as one of the enthusiasts decided to break down what exactly broke this union. As many may know, Charles Hoskinson was one of the original cofounders of Ethereum and played a significant role in its early development, including the design of the initial coin offering and the decision to register the Ethereum Foundation in Switzerland. However, Hoskinson left the Ethereum project to found Cardano, a competing blockchain platform. The reason for his departure is often attributed to disagreements with other Ethereum cofounders, particularly over the direction…