Author: NBTC

Blockchain data shows signs that the Bitcoin mining industry is “capitulating,” according to CryptoQuant—a likely precursor to Bitcoin tapping a local price bottom before surging to new highs. CryptoQuant analyzed the metrics for miners, who are responsible for securing the Bitcoin network in exchange for newly issued BTC. As outlined in the market intelligence platform’s Wednesday report, multiple signs of capitulation flashed over the last month, during which time Bitcoin’s price dropped 13% from $68,791 to $59,603. One of those signs includes a significant decline in Bitcoin’s hash rate, the total computational power securing Bitcoin. Since tapping a record-high at…

BitOoda founder Vivek Raman, a former Wall Street trader, predicted a bull future for Ethereum (ETH) in the second half of 2024. According to Raman, three important factors holding ETH back are about to turn into positive winds starting this week. The first factor is the launch of ETH ETFs, which Raman believes will enable new capital to enter the Ethereum ecosystem. “Crypto has largely been a closed loop; the barriers to entry are still very high,” Raman said. “As a result, over the last 2 years we have only seen capital rotation between cryptocurrencies, which is a zero-sum situation.”…

As sanctions keep biting, Russia is exploring gold-backed tokenized assets for cross-border trades, with plans for broader testing by year-end. Russian lawmakers are exploring the introduction of gold-backed tokenized assets, directly managed by the central bank, as a solution for persistent cross-border payment challenges. According to local reports, discussions involving high-profile officials and major banking sources suggest that Russia is evaluating this approach to offer enterprises a stable mechanism for international transactions. However, this initiative isn’t yet in development at the state level. You might also like: Russian parliament passes first reading of bills for crypto use in international trade,…

Peercoin (PPC) is one of the earliest cryptocurrencies, having launched in August 2012 to pioneer the Proof-of-Stake (PoS) consensus. Peercoin price: bears threaten as price drops Most cryptocurrencies that failed to recover following the 2018 bear market continue to struggle after also underperforming during the 2021 bull market. Peercoin, whose price reached highs of $9.45 in January 2018, is such a coin. At prevailing prices, PPC is nearly 95% down from its all-time peak. It only saw mild gains in 2021 and has lagged other altcoins so far. However, this altcoin saw some upside action in recent weeks amid a…

MOSCOW, July 25 (Reuters) – The increased use of digital assets in cross-border settlements between Russia and China is easing bilateral payment issues, digital platform Qifa told Reuters, as some settlements directly through banks are taking months to clear due to sanctions. Qifa, founded in 2013 and Chinese owned, initially focused on importing Chinese consumer goods to Russia. This year, however, it launched bilateral trade, tapping into surging trade between the two countries even as the threat of secondary U.S. sanctions on Chinese banks complicates payment flows with more stringent compliance procedures. The dwindling pool of banks in China willing…

In an exclusive development, Informal Systems has collaborated with Starknet. The partnership between Starknet and Informal Systems targets improving interoperability and decentralization. Informal Systems took to its official social media account to provide the details about this move. 1/ @Starknet 🤝 @informalinc Part 1️⃣We’ve teamed up with @Starknet to enhance decentralization and interoperability in the Ethereum L2 space.Combining StarkWare Industries, the @StarknetFndn, and our expertise promises something extraordinary.Collaboration is 🔑 ⤵️ pic.twitter.com/1kiBBLRdUB — Informal Systems 🌱 (@informalinc) July 24, 2024 Informal Systems Joins Forces with Starknet to Increase Interoperability and Decentralization The platform noted in its exclusive X post that…

The Fed’s Chairman Jerome Powell spoke at Sintra yesterday and doubled down on his moderate tone shown recently. Powell reinforced that the Fed needs to be more confident before cutting interest rates, highlighted that a 4% unemployment rate is “still very low,” the return of disinflation, and that he doesn’t see 2% inflation this year or the next. As a result, Bitcoin (BTC) registered a 2.7% pullback in the past 24 hours and lost the $60,000 price level for most of Wednesday. Moreover, the outlook doesn’t look grim only in the short term after Powell’s remarks. Ben Kurland, CEO of…

The Securities and Exchange Commission (SEC) has approved nine Spot Ether ETFs for trading, highlighting the exchange-traded funds’ anticipated launch on Tuesday. In an X post, Coinbase hailed the much-awaited ETF launch as a significant milestone that opens up new opportunities for the expansion and diversification of the crypto economy. ETH ETFs have arrived.Today, the SEC approved 9 spot ETH ETF applications. Their much celebrated arrival marks another important milestone for crypto in expanding access to and diversifying our cryptoeconomy.Here’s why 🧵 pic.twitter.com/o6KfgGlUDn — Coinbase 🛡️ (@coinbase) July 22, 2024 Coinbase pointed to the efficiency of the Ethereum ecosystem, which…

While Bitcoin (BTC) dropped to $63,400 during the week, it started to recover yesterday evening and rose above $67,000 again. While a greater rise in Bitcoin is expected, data on Personal Consumption Expenditures (PCE), which is closely followed by the FED when making interest rate decisions and is considered a leading inflation indicator, has been announced. Accordingly, all data announced regarding personal consumption expenditures in June were as follows: Core Personal Consumption Expenditures Price Index (Annual) Announced 2.6% – Expected 2.5% – Previous 2.6% Core Personal Consumption Expenses Price List (Monthly) Announced 0.2% – Expected 0.2% – Previous 0.1% Personal…

Leading blockchain platform Injective has announced the official integration of OndoFinance, marking a significant expansion of its Real World Asset (RWA) institutional offerings. This integration, effective immediately, introduces an innovative tokenized treasury instrument, USDY, into the ecosystem. Integration leads to several key events. USDY is now available for use in applications built on Injective, a move that is expected to improve capital efficiency on the network. Additionally, tokenized treasury offerings will now be built into their decentralized applications (dApps), including decentralized exchanges and money market platforms. This partnership represents Injective’s latest effort in its ongoing mission to tokenize traditional finance…