Author: NBTC

Ethereum’s price remains volatile, potential retracement to $2,882 if bearish. Large holders accumulated 112.9k ETH, surpassing ETF inflows. The crypto market witnessed a significant milestone as spot Ethereum began trading on Tuesday, following weeks of back-and-forth on registration statement edits. According to Sosovalue data, spot ETH ETFs recorded inflows within the first 24 hours of trading. While the ETF greenlight was expected to spark a bull run, the bears took over, pushing the price below $3.38K. Ethereum is down 1.98% in the past 24 hours, with the price trading at $3,455.30. Trading volume has increased by 2.8%. History repeats itself,…

Ethena shared plans to allocate a part of its $235 million USDT stablecoin collateral and $45 million surplus reserve in yield-generating real-world asset (RWA) offerings. BlackRock’s BUIDL fund pitched for a $34 million allocation, while Steakhouse Financial applied with a lending vault on Morpho Blue. Ethena, the protocol behind the $3.4 billion yield-generating “synthetic dollar” token USDe, is planning to invest a part of its reserves in tokenized real-world assets (RWA), and BlackRock’s BUIDL fund is among the first applicants to throw its hat in the ring. The protocol laid out plans in a July 16 governance post to allocate…

The political campaign rally of Donald Trump recently in the South Bronx, New York, has one of the attendees promoting “XRP is not a security.” XRP Not Security Advertised in Trump’s Campaign In a recent post, U.S.-based X user Craig Brittain called attention to this development that surfaced during Donald Trump’s campaign. The presented video was a coverage from Fox Business News. As supporters stood to listen to Trump’s present speech, many took out their phones to capture the session. As the video depicted, one of those present raised a placard bearing a caricature of Trump with the inscription “XRP…

The UAE Central Bank approved a framework for stablecoin regulation which allows only dirham-backed stablecoins to be used for payments. Cryptocurrency like Bitcoin and Ethereum will be restricted to trading, investment, and corporate treasury purposes while foreign stablecoins will only be permitted for purchasing specific virtual assets like NFTs. The new framework is set to commence in June 2025. The UAE Central Bank’s recent regulation on stablecoins is poised to reshape the way cryptocurrencies work in the country, bringing a structured framework for the use of digital currencies. Set to take effect in June 2025, this regulation will restrict the…

Bitcoin (BTC) has completed its ninth test of the $60,000 support level, hinting at a potential shift in the cryptocurrency’s trajectory. According to a crypto analyst, Bitcoin faces significant moves ahead and determining the direction of this momentum is crucial. BTC Retests $60,000 Support For The 9th Time In an X (formerly Twitter) post published on July 3, a crypto analyst identified as ‘Dana Crypto Trades’ declared that Bitcoin has successfully completed its ninth test for the $60,000 support region. A support level is a price threshold where assets tend to stop falling, signaling the potential for a bounce back…

RiskLayer, a protocol developed by economic risk management firm Chainrisk Labs, has announced the completion of a pre-seed funding round. The project aims to build decentralized finance (DeFi) security middleware on EigenLayer. The funding round, termed a “Builders Round,” was co-led by Antler and Momentum6, with participation from Wagmi Ventures, Hypotenuse ventures, and several angel investors. The amount raised was not disclosed. RiskLayer proposes to develop two Actively Validated Services (AVS) on EigenLayer to address DeFi economic security concerns. The first, Risk Oracle AVS, aims to provide DeFi risk data using a “proof of risk” consensus. The second, Risk Rollup…

The area around the bullish trendline served as an accumulation zone in 2019-20. A widely-tracked momentum indicator suggests downtrend exhaustion. Ether’s {{ETH}} bitcoin {{BTC}}-denominated market price, the ETH/BTC ratio, is flirting with a bullish trendline drawn from 2016 and 2017 lows, offering hope to bulls on the second-largest cryptocurrency by market cap. Since January, the trendline has consistently restricted the pair’s downside in a pattern reminiscent of 2019-20. Back then, it served as an accumulation zone, eventually leading to a renewed bull market in the first half of 2021, as shown by a chart sourced from TradingView. A monthly chart…

The U.S. federal government’s deficit has ballooned to $1.27 trillion in the fiscal year ending in June, driven largely by surging interest payments on the nation’s mounting debt, the Treasury Department recently revealed. Despite record-high receipts of $466 billion in June, the government still ran a deficit of $66 billion for the month, as Bloomberg reported. While this marked a slight improvement over the same period last year, it underscored the growing strain on public finances. Adjusting for calendar differences, the month’s shortfall was just $5 billion smaller than in June of last year, while the year-to-date deficit fell slightly…

Billy Markus, one of the Dogecoin (DOGE) founders, recently addressed the speculation about the SEC possibly approving a Dogecoin ETF. This speculation has grown following the approval of Bitcoin and Ethereum ETFs, leading many to ponder which cryptocurrency might be next. Markus seems to downplay these rumors, suggesting they are not particularly likely to him. Although DOGE began as a meme coin, it has achieved widespread acceptance over the past decade. Numerous businesses now accept it as a payment method, maintaining its market presence. Dogecoin’s classification as a nonsecurity positions it well for an ETF. Earlier this year, the CFTC…

Crypto exchange Coinbase filed a motion to compel the Securities and Exchange Commission to produce internal communications on its discussions about crypto, including the messages of Chair Gary Gensler. The company backed off from a more aggressive earlier effort to seek Gensler’s communications, having demanded documents from before he started work at the agency. Coinbase Inc. (COIN) is going after internal chatter at the U.S. Securities and Exchange Commission (SEC) that may shed light on its pursuit of cryptocurrency exchanges as illegal enterprises – including Chair Gary Gensler’s own communications – but the scope of its latest request filed on…