Author: NBTC

The crypto market is on edge as Bitcoin hovers around $57,000, showing several bearish signals that could spell even more trouble ahead. With its daily 200-day moving average breached and RSI plummeting, many are questioning whether digital gold can withstand the upcoming storm. Adding fuel to the fire, the long-anticipated Mt. Gox repayments are set to begin in July, potentially releasing $8.5 billion worth of Bitcoin into an already volatile market. Will Bitcoin find its footing or tumble to new lows? Let’s dive into the data and see. You might also like: Mt. Gox to start Bitcoin, Bitcoin Cash repayments…

Investors pulled $484 million from the Grayscale Ethereum Trust (ETHE), now trading as an ETF, on its first day of trading, data from Farside reveals. Source: Farside Investors As reported by Crypto Briefing, $458 million worth of ETHE shares changed hands on the first day. The outflows now indicate significant selling activity. Bloomberg ETF analyst Eric Balchunas estimates the outflows representing around 5% of the fund’s total value. “Not sure The Eight newbies can offset [with] inflows at this magnitude. On flip side maybe its for best to just get it over with fast, like ripping a band aid off,”…

Last November, many members of the crypto community applauded the election of Javier Milei in Argentina. He spoke positively about Bitcoin and it was thought by many that his far-right populist tactics might help tame Argentina’s famously high inflation rate. Milei described himself as an anarcho-capitalist. He made various campaign promises like ending the central bank, firing most government workers, and his most important pledge — reducing inflation. For context, inflation is the most obvious symptom of Argentina’s financial troubles. The country owes the International Monetary Fund $43 billion and is heavily indebted elsewhere, owing a combined $400 billion to…

The Cardano (ADA) community is currently abuzz with speculation about a potential Cardano exchange-traded fund (ETF). The speculation was sparked by a recent X post by Tap Tools, a token, NFT and wallet tracking platform on the Cardano blockchain. The tweet posed the question, “Is ADA ETF up next?” alongside an image featuring a checklist with Bitcoin and Ethereum ETFs struck out, leaving only Cardano ETF. This speculation comes on the heels of a significant milestone for the crypto market: the launch of Ethereum ETFs in the United States. In a remarkable milestone, Ethereum exchange-traded funds officially began trading in…

Fairshake has emerged as a dominant force this election cycle, with over $203 million raised this year, surpassing other notable super PACs like Make America Great Again Inc. The large influx of funds towards a pro-crypto PAC echoes the sentiment that crypto has a massive influence on U.S. politics during this election cycle. Compared with other super PACs, Fairshake’s financial war chest is notable — and still growing. The Senate Majority PAC, supporting Democratic Senate campaigns, has raised $167 million, while Make America Great Again Inc., backing former President Donald Trump, has accumulated $201 million. Fairshake’s substantial fundraising efforts place…

MILAN, July 24 (Reuters) – Ferrari (RACE.MI, opens new tab said on Wednesday it would extend its scheme to accept payments in cryptocurrency for its luxury sports cars to its European dealers network from the end of this month, after starting in the United States last year. The Italian company will also extend the scheme by the end of 2024 to other dealers of its international network, in countries where cryptocurrencies are legally accepted, it said in a statement. Although the vast majority of blue-chip companies have steered clear of crypto as the volatility of bitcoin and other tokens make…

Bitcoin investors from the post-ETF launch era are proving to be poor HODLers, as the asset’s so-called “sideways summer” is driving them out of the market. As the leading cryptocurrency’s price fell back to $58,000 on Thursday, on-chain data showed that much of the latest selloff came from investors that first entered the market this year. “Approximately $2.4 billion worth of Bitcoin aged between three and six months moved on the network during the drop,” wrote CryptoQuant author Cauê Oliveira on Thursday, highlighting massive spikes in activity in the last couple of days. Beginner investors are capitulating and increasing selling…

Ethereum price failed to continue higher above the $3,500 resistance zone. ETH corrected gains and is now trading in a range above the $3,400 level. Ethereum is consolidating below the $3,500 resistance zone. The price is trading below $3,480 and the 100-hourly Simple Moving Average. There is a key declining channel forming with resistance at $3,470 on the hourly chart of ETH/USD (data feed via Kraken). The pair could start a fresh increase if there is a clear move above the $3,500 resistance zone. Ethereum Price Stuck In A Range Below $3,550 Ethereum price failed to extend gains above the…

In a remarkable milestone for the crypto industry, U.S. regulators have granted final approval for spot exchange-traded funds that hold Ethereum (ETH). The decision marks the end of a years-long process to obtain ethereum ETFs approved by the Securities and Exchange Commission (SEC), which followed the regulator’s approval of Bitcoin (BTC) ETFs in January. The anticipation and subsequent approval of these ETFs created a ripple effect, boosting market sentiment and driving considerable capital inflows. According to the most recent CoinShares report, the outlook for Ethereum seems to have reversed, seeing a further USD $45 million of inflows last week, surpassing…

Ontology (ONT) is experiencing a significant uptick in on-chain activity as decentralized identity protocols gain momentum, according to its latest weekly report. This surge highlights Ontology’s expanding role in enhancing the Web3 landscape with robust technical advancements and increased user engagement. 🚀 This week at #Ontology: We’re back from #ETHCC, shared our session from @mpost_io’s Hack Seasons, & wrapped up our giveaway with @xwg_games ! 🌐 Plus, exciting developments on @ONTOWallet & more! Stay tuned & join the conversation:https://t.co/kcguLJ5M03 — Ontology #BUIDL4Web3 (@OntologyNetwork) July 24, 2024 The report reveals a vibrant ecosystem with the number of decentralized applications (dApps) on…