Author: NBTC

Ethereum’s price on July 22, 2024, stands at $3,497, showing a dynamic interplay of market forces. The cryptocurrency’s recent movements exhibit consolidation with a potential bullish resurgence. Ethereum The 1-hour ETH/USD chart reveals critical support at $3,411 and resistance at $3,565. Ethereum’s price has been oscillating within these boundaries, with noticeable volume spikes at pivotal movements, indicating strong market interest and potential reversal points. The recent trend displays a downward trajectory followed by recovery, suggesting a tactical entry around $3,480-$3,500, anticipating a rebound towards the resistance level of $3,565. On the 4-hour chart, ethereum exhibits a broader support zone around…

Crypto is playing an increasingly significant role in funding online disinformation campaigns aimed at influencing elections, according to a new report from blockchain analytics firm Chainalysis. Chainalysis dug into how bad actors are using digital coins to fund their operations. What they found paints a picture of a growing problem that could affect how people see election information online. How crypto ‘donations’ keep disinformation outlets running Some websites known for spreading false information are asking for crypto donations. The report details how spreaders of disinformation are using crypto to accept donations and fund their activities. One example is SouthFront, a…

A widely followed crypto commentator, “CryptoCondom,” has now recognized XRP as a worthy asset to hold and long amid the alignment of crucial factors. The community pundit disclosed this shift in perspective in a recent post on X, admitting that he never imagined he would want to own or invest in XRP. Nonetheless, he acknowledged that this stance is gradually changing. This sentiment suggests CryptoCondom is a longstanding XRP critic who is reconsidering his view of the seventh-biggest crypto asset. His evolving perspective stemmed from crucial events set to align once Ripple concludes its lawsuit against the SEC. Factors Making…

Tether chief executive Paolo Ardoino is alarmed that Europe’s MiCA regulations on stablecoins, due to excessive cash reserves requirements, could pose systemic risks to banks. Paolo Ardoino, the chief executive of the company behind the largest stablecoin by market capitalization, Tether (USDT), appears to be concerned about the new European crypto legislation, known as MiCA (Markets in Crypto-Assets), saying it could create “systemic risks” for banks. In an interview with Forbes, Ardoino criticized MiCA’s requirement for stablecoin issuers to hold 60% of their reserves in non-insured cash deposits, drawing parallels to Circle’s incident with Silicon Valley Bank in 2023, when…

Neo has announced that ZeroX Network will integrate support for the Neo X EVM sidechain. ZeroX plans to bring its Derivable Asset Utilities NFT concept to Neo X, allowing for NFTs to be represented differently across various dApps (i.e., it’s simultaneously a hero in one game and a ticket on an event platform), without any on-chain changes to the underlying token. ZeroX Network offers a utility layer that resides on top of other blockchain networks, connecting blockchain assets to traditional mobile and web applications. It is enabled by the ERC-7276 standard, developed by ZeroX Network, which allows an underlying NFT…

Core, renowned for its Bitcoin-powered and EVM-compatible blockchain, has announced the launch of mBTC, introducing the first-ever non-custodial BTC staking. This groundbreaking development allows users to stake Bitcoin without giving control of their assets. It marks a significant milestone in blockchain technology. 🚀Be ready! M-BTC is live on @Coredao_Org!#Core known for Bitcoin-powered, EVM-compatible blockchain, is introducing the first non-custodial BTC staking.🥳Now users can bridge mBTC to #Core, here’s how:1️⃣ For quick and small amount transfer(< 2 mBTC), please use… pic.twitter.com/fbeSjisb59 — Free (@Protocol_Free) July 3, 2024 Core Simplifies BTC Staking with mBTC Integration Using this new feature, users can link…

The Cryptonomist interviewed Matt Losquadro and Noah Litvin, two core contributors of Synthetix— a leading derivatives markets ecosystem and liquidity layer for permissionless derivatives like perpetual futures. Synthetix recently announced the scaleup of its Arbitrum deployment plan — expanding its V3 liquidity layer and turnkey protocol for creating perpetual futures and derivatives. This deployment marks a significant milestone in Synthetix’s multi-chain strategy, following its successful expansion into Base earlier this year. With Matt and Noah we spoke about the rising appeal of decentralized derivatives among fund managers and traders amidst new perps trading markets coming on-chain. Synthetix has recently scaled…

On-chain data suggests that Ethereum faces substantial resistance at the $3,500 price level as the price retreats from the threshold. IntoTheBlock shared details on Monday that show the above price point continues to prove tough for Ethereum (ETH) bulls since July 16. At the time of writing, ETH is hovering around $3,448 and has slipped 1.8% in the past 24 hours, retreating from intraday highs above $3,560. But why is the $3,500 to $3,600 price level likely to be a major supply wall for Ethereum? Per IntoTheBlock, the main factor aiding bears around this zone is the 3.13 million Ethereum…

Bernstein analysts are still very focused on publicly traded Bitcoin mining companies in the months after the most recent halving event. In a research note on Wednesday, the firm benchmarked 12 Bitcoin mining companies, highlighting significant upside for those with improved power strategies and efficiency. The analysis suggests that Bitcoin miners could narrow their current 90% valuation discount, or disadvantage, compared to traditional data centers by optimizing their power portfolios and embracing cutting-edge efficiency measures. “We believe Bitcoin miners by focusing on an active ‘power’ strategy and pushing the frontiers of power efficiency, can make a stronger case for valuation…

Shiba Inu (SHIB) has maintained the uptick in its burn rate metric just as the Ethereum ETF launch announcement dominated the broader crypto market. It remains unclear whether or not this burn rate is a transfer from earlier in the week; however, jumping by 482% in 24 hours has rebooted hidden sentiments about the meme coin. Shiba Inu burn rate and implications Per the data from Shibburn, the burnt tokens come in at 60,380,203 SHIB, effectively reducing the total tokens sent to dead wallets to date. Amid the erratic nature of the burn rate, the tokens burnt over the trailing…