Author: NBTC

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…

According to a breaking development, the co-founder of Debt Box, a crypto company sued by the SEC, was kidnapped and more than $400 million was stolen. The company’s co-founder and partner, Jason Anderson, was allegedly kidnapped and forced to give up control of his company, Debt Box, and approximately $400 million. The shocking allegations were revealed in a police report filed by Anderson’s brother in Utah and later obtained by Fortune. Anderson had gone to Dubai for a business meeting. However, it is claimed that he was kidnapped by two business partners while trying to leave the country. Under conditions…

Decentralized exchange D8X is working on building a perps market that will allow users to trade Polymarket contracts with leverage. D8X estimates that this will launch on mainnet in August. D8X, a decentralized exchange (DEX) for crypto perpetuals said it’s working on bringing leverage to Polymarket’s prediction markets. D8X launched on Polygon’s zkEVM, a zero-knowledge (ZK) rollup scaling solution, in January this year after closing a $1.5 million pre-seed round in August 2023. It then expanded to OKX’s X Layer in May and Arbitrum in June. In an interview with CoinDesk, D8X co-founder Caspar Sauter explained that the system works…

Colorado-based Bitcoin mining company Riot Platforms has acquired its Kentucky-based competitor Block Mining to increase its operational capacity by 16 EH/s. Bitcoin (BTC) miner Riot Platforms has acquired Block Mining, a Kentucky-based crypto mining firm, for $92.5 million to expand its operational resources. The company said in a Jul. 24 press release the deal immediately adds 1 EH/s to its self-mining hashrate “with a potential to add up to a total of 16 EH/s by the end of 2025.” The acquisition includes a $18.5 million cash payment and $74 million in Riot common stock. “With a combined 60 MW of…

Bitcoin is tumbling, but how far can it go? The leading cryptocurrency has fallen over 5.7% over the past week. Today, it dropped below $57,000 as several wallets linked to defunct crypto exchange Mt. Gox made minor transactions. Persistent selling by the German government, today moving another $75 million of Bitcoin to exchanges, has also seemingly spooked investors. “The short-term outlook is somewhat bearish, but not extremely so,” Basile Maire, co-founder of decentralized exchange D8X and former bank treasury specialist, told Decrypt. Macroeconomic conditions and the uncertainty clouding U.S. elections is likely also playing a role in current bearish sentiment.…

The SND Genesis Battle Pass collection dominated the non-fungible token (NFT) market with a US$1.39 million sales volume on Tuesday, July 23, according to data from CryptoSlam. The Ethereum-based collection is linked to Sword & Dungeons, a role-playing game backed by OKX Ventures. The industry-leading secondary sales volume came after the game minted 4,000 Genesis Battle Pass NFTs, which were subsequently sold out. SND Genesis Battle Pass had 2,460 unique buyers from just 96 sellers. This helped Ethereum retain its top spot with a total of US$6.27 million in sales for the day, rising from the US$4.16 million recorded the…

A managing partner at SEC-regulated Registered Investment Advisor Two Prime has discussed the potential impact of spot ether exchange-traded fund (ETF) launches on the cryptocurrency market. He explained that early demand could be greater than when spot bitcoin ETFs launched and suggested that a sharp uptick in ethereum price from the ether ETFs could lead to a resurgence of altcoins. Alexander Blume Analyzes the Impact of ETH ETFs Alexander Blume, managing partner at Two Prime, a U.S. Securities and Exchange Commission (SEC)-regulated Registered Investment Advisor (RIA) specializing in digital asset derivatives and managing over $500 million in assets, has shared…

Early employees of startups are often given shares as part of their compensation, which they can sell when the company goes public. Revolut may be aiming to allow employees to cash out their holdings while giving the fintech firm’s valuation a boost ahead of an IPO. Digital bank Revolut plans to sell around $500 million of employee-owned shares, the Wall Street Journal reported on Tuesday. The deal would see Revolut’s value rise to $45 billion, according to the report, which cited people familiar with the matter. The London-based fintech company has allowed the buying and selling of crypto within its…