Author: NBTC

Even though Ethereum (ETH) is facing challenges, its price still has the potential to climb. Currently, ETH is trading at $2,411. Recently, concerns have surfaced that ETH could enter a bear cycle. While this is possible, an on-chain analysis suggests how the cryptocurrency might avoid capitulation. Ethereum Has Strong Support Based on the In/out of Money Around Price (IOMAP), a metric that classifies addresses into those in profits, in loss, and at breakeven point, market participants accumulated 52 million coins at an average price of $2,345, This volume is higher than the volume purchased between $2,349 and $2,703. Typically, larger…

Meme coins on the Tron network are igniting excitement, injecting fresh energy amid the recent lackluster performance of Bitcoin and other major cryptocurrencies. In a recent update, market analyst Zhusu revealed that SunPump, the pioneering meme coin platform on the Tron blockchain, has witnessed the launch of an astounding 7,351 tokens within the last 24 hours alone. This massive launch has generated an estimated revenue of $585,000 for the platform. The analysis compares these figures with Pump.fun, a well-known platform for launching Solana meme coins. It reveals that, in comparison, the Solana platform saw the creation of 6,701 tokens in…

Binance has announced that it has added Polygon (POL) to a number of its products and services, expanding the token’s availability across the platform. Binance to Offer Full-Service Suite for Polygon (POL) on Multiple Platforms Starting this week, users will be able to interact with POL via Binance Simple Earn, Buy Crypto, Convert, Margin, Futures, and Auto-Invest according to the following schedule. Simple Earn: POL has been listed on Binance Simple Earn for Flexible and Locked Products, available for subscription from 13 September 2024, 13:00. Auto-Invest: Users will be able to purchase POL via Binance Auto-Invest using any supported payment…

Disclosure: The views and opinions expressed here belong solely to the author and do not represent the views and opinions of crypto.news’ editorial. DeFi has too much infrastructure and not enough apps—or at least, that’s what the consensus seems to be in crypto’s town square. Just this year, venture capitalists and private equity investors have poured hundreds of millions of dollars into crypto projects that make infrastructure a priority, if not an exclusive focus. You might also like: From niche to necessity: Why defi literacy matters | Opinion The highlight reel speaks for itself. In the first quarter alone, VC…

Ethereum’s upcoming Pectra upgrade, poised to be one of the network’s most important updates, may be split into two separate hard forks due to its complexity. This was revealed by Tim Beiko, Ethereum Foundation’s protocol support lead, on September 12. Details of Ethereum’sPlanned Pectra Upgrade On September 13, Christine Kim, a researcher at Galaxy Digital, explained on X that this decision stems from the extensive number of updates planned for Pectra. The upgrade could include over 20 Ethereum Improvement Proposals (EIPs), with six additional updates still under review. Kim noted that the first part of the upgrade could launch as…

PayPal is teaming up with Anchorage Digital to promote its stablecoin PYUSD, despite legal issues and regulatory uncertainties surrounding stablecoin interest payments. This partnership, first reported by Fortune, will incentivize institutional investors to hold PayPal’s PYUSD (PYUSD) by offering rewards to them. Anchorage Digital, the only U.S. crypto firm with a federal bank charter, operates as a federally regulated digital asset bank, setting it apart from other crypto companies that function under state licenses or as unregulated entities. PayPal’s entry into the stablecoin market with PYUSD has faced challenges in gaining significant traction. A year after its launch, PYUSD had…

Former Alameda Research CEO Caroline Ellison should be sentenced to time served and supervised release at most, her attorneys said in a late Tuesday filing. Ellison, despite her role in propping up FTX and Alameda, cooperated with prosecutors, FTX’s bankruptcy estate and creditors, the filing said. A presentence report similarly recommended no prison term or fine, the filing said. Former Alameda Research CEO Caroline Ellison should be sentenced to time served and supervised release for her role in FTX’s operation and subsequent collapse, her attorneys said in a filing late Tuesday night. Ellison, one of FTX founder Sam Bankman-Fried’s top…

Kraken has ended a privacy and cost-saving feature for some of its customers. Since April 2022, the crypto exchange had supported withdrawals into Bitcoin’s most popular ‘layer 2,’ the Lightning Network. However, as of September 10, Kraken has discontinued support for Lightning withdrawals in Germany. In its list of acceptable address types for BTC withdrawals, Kraken has removed the ‘lnbc’ prefix from its list of supported assets for German customers. That confirms Kraken’s denial of Lightning withdrawals, yet Kraken never published a dedicated statement in plain English about disabling its Lightning Network support in Germany. In response to a single…

On days like this, it’s easy to scoff at bitcoin (BTC) – specifically, the claim that the original cryptocurrency is a store of value, the digital equivalent of gold. BTC tumbled along with the broader financial markets Monday and briefly dipped below $50,000, its lowest level since February, before retracing some of its losses. Early afternoon New York time, the asset was off 9% on a 24-hour basis, at $53,387.67. For skeptics, bitcoin’s volatility was an invitation to echo an old Billy Crystal comedy routine: “Where’s your messiah now?” “The Bitcoin ‘store of value’ thesis is getting blown up right…

One relatively new decentralized exchange (DEX) is gaining momentum despite the bearish conditions in the crypto segment, according to the digital asset analytics firm IntoTheBlock. The firm notes the total market cap of major DEX tokens currently sits at $26.6 billion. “After a brief rise earlier this year, the market has cooled down, wiping out any YTD (year-to-date) gains.” IntoTheBlock notes that Uniswap’s native token, UNI, is the commanding asset in the space, with 74.93% market cap dominance. But Aerodrome Finance (AERO) is rapidly building momentum in the sector, “making waves in both market cap and volume,” according to the…