Author: NBTC

The crypto market is always sensitive to significant transaction activities, especially when large quantities of Bitcoin are involved. According to a recent report by Lookonchain, a notable increase in Bitcoin deposits on the Binance exchange has caught the attention of market analysts and investors alike. Over the last 24 hours, a single whale transferred a staggering 1,723 BTC, valued at approximately $106 million, to Binance. This series of transactions includes a massive deposit of 1,023 BTC just 45 minutes ago. The impact of these transfers has resonated across the market with Bitcoin experiencing a noticeable drop. The price of Bitcoin…

The Financial Stability Board (FSB), an international body that monitors and makes recommendations about the global financial system, released a paper on the risks posed by global stablecoins to emerging market and developing economies (EMDEs). It highlighted increased interest in U.S.-backed stablecoins in emerging markets and the potential dangers to those economies of non-domiciled coins. The paper, titled “Cross-border Regulatory and Supervisory Issues of Global Stablecoin Arrangements in EMDEs,” was published on July 23 and focused on what it refers to as global stablecoins (GSCs), which are stablecoins that could be widely used as a means of payment and/or store…

Bitcoin (BTC) and the leading stock market index, S&P 500, have a historical correlation that has recently been challenged. This divergence hints that either BTC will make a big move upward or the stock market will reverse downwards. Notably, the Senior Commodity Strategist at Bloomberg Intelligence, Mike McGlone, spotted the divergence between both 100-week moving averages (MA). McGlone shared the discovery in a post on X on July 2, hinting at it being a leading indicator. According to the strategist, the S&P 500’s MA is already at 23% above its closure in the first half of the year. Conversely, Bitcoin’s…

Liquidity has been the backbone of DeFi (decentralized finance) since its inception. However, securing liquidity through locked capital is detrimental to DeFi in the long term. This realization acted as a catalyst behind the inception of Berachain’s Proof-of-Liquidity (PoL). The traditional Proof-of-Stake (PoS) mechanism has certain irreversible drawbacks. It provides an unfair advantage to network participants at the time of TGE (token generation event), laying the ground for mass sell-offs. Also, PoS leads to a reduction in liquidity for LP pools and transactions if the chain’s security were to be improved. Since PoS chains follow a single token economic model,…

Cryptocurrency tracker Whale Alert has noticed two impressive crypto transactions, moving more than $30 million worth of XRP. These transactions took place while the XRP price demonstrated an impressive 7% increase overnight. 🚨 28,110,000 #XRP (16,612,755 USD) transferred from unknown wallet to #Bitstamphttps://t.co/UoYkbX5moX — Whale Alert (@whale_alert) July 21, 2024 52 million XRP transfers spotted The aforementioned popular platform, which tracks large cryptocurrency transactions, has detected two XRP chunks getting moved. While one of them was deposited to a major crypto exchange, the other one with withdrawn from a similar platform. According to Whale Alert, 23,656,185 XRP were withdrawn from…

India’s Economic Affairs Secretary, Ajay Seth, has announced that the country will release a discussion paper outlining its policy stance on cryptocurrencies before September. The paper aims to gather comments and views from relevant stakeholders on proposed cryptocurrency regulations in India. The discussion paper results from the efforts of an inter-ministerial group, including the Reserve Bank of India (RBI) and the Securities and Exchange Board of India (SEBI), to develop a comprehensive cryptocurrency policy. Notably, the paper will explore the remit of regulations for cryptocurrencies, going beyond the current framework of anti-money laundering (AML) and counter-terror financing (CTF) standards. This…

Analysts confirm the Bitcoin CME gap is filled, projecting a potential surge that could propel BTC above the $72,000 mark. Bitcoin’s (BTC) price action has recently drawn significant attention following its attempt to close the CME (Chicago Mercantile Exchange) futures gap. The Bitcoin CME gap is caused by the trading hours of the CME, which closes for the weekend from Friday evening to Sunday evening. During this period, Bitcoin continues to trade on other exchanges, potentially leading to price changes. Bitcoin CME Gap Filled When the CME reopens, the Bitcoin futures price often “gaps” up or down to align with…

According to the latest report from CoinShares, inflows into XRP-focused investment products surged by $500,000 in the past week. While this is a significant decrease from the previous week’s inflow of over $1 million, it still represents half a million dollars of inflows. This latest surge brings the total net flows into XRP exchange-traded products (ETPs) to more than $19 million since the start of the year. The rise is likely connected to heightened expectations surrounding the SEC’s case against Ripple. The legal battle, which is approaching a pivotal moment, has led traders and enthusiasts to speculate about a potential…

This week, some Binance fans took to X (formerly Twitter) to share their excitement that the exchange’s founder, Changpeng Zhao (CZ), was scheduled to complete his prison sentence on August 30. Unfortunately for them — and CZ — a quick fact-check reveals that he won’t actually be freed by that date. On April 30, US District Judge Richard Jones sentenced CZ to four months in a Seattle prison, recommending Seatac, a prison and administrative security federal detention center. Many observers apparently believed that CZ entered Seatac that same day, which would indeed have made August 30 his release date. However,…

The idea of the Mt. Gox Bitcoin (BTC) sell-off spooked the crypto market more than the actual impact it could have on BTC price, according to a recent study by asset management firm CoinShares. A worst-case scenario is a 19% daily drop if all BTC are sold concurrently, although this is a very unlikely one. Currently, the Mt. Gox trustee holds 142,000 BTC and an equal amount of Bitcoin Cash (BCH), valued at $8.85 billion and $55.25 million respectively. Luke Nolan, Ethereum Research Associate at CoinShares, highlighted that creditors were met with two choices: receive 90% of what they were…