Author: NBTC

The cryptocurrency space erupted today when the world’s largest exchange Binance made a mysterious announcement. In a recent post on X, the black-and-yellow crypto giant simply mentioned “BNSOL” and then said that it is coming soon. Many began to guess at what this meant, as no clear answer was given. But there must be one. According to Solana Compass, the secret behind BNSOL could be Binance Staked SOL. As many may know, Solana is a token that can be staked. The purpose behind staking SOL tokens is to participate in the network as a validator or to participate in the…

Wrapped Bitcoin (wBTC) corresponds to approximately 10% of the overcollateralized stablecoin DAI reserves, which investors now consider removing as collateral. This decision could start a Bitcoin (BTC) sell-off if investors decide to close their wBTC exposure following Bitgo’s controversial announcement. On August 10, a BA Labs spokesperson raised a risk-mitigation issue related to wBTC changes on MakerDAO’s (MKR) governance forum. As explained in the proposal, Bitgo announced a plan to transfer control of wBTC to a joint venture with BiT Global. Moreover, the leading custody solutions provider, Bitgo, disclosed this would result in a partnership with Justin Sun and Tron…

The NFT market has experienced notable shifts over the past week, with Guild of Guardians leading the charge in weekly sales volume. This collection has risen to the top, surpassing some of the industry’s most well-established players. TOP #NFT COLLECTIONS BY WEEKLY SALES VOLUME #GuildofGuardians #BoredApeYachtClub #CryptoPunks #Dogezuki #Sorare #PudgyPenguins #MadLads #OrdinalsMaxiBiz #SolanaMonkeyBusiness #Courtyard #Runestone #NodeMonkes pic.twitter.com/TREtiSAkRJ — PHOENIX – Crypto News & Analytics (@pnxgrp) September 5, 2024 According to PHOENIX, guild of Guardians has emerged as the top performer in the past week, claiming the highest sales volume among NFT collections. The rise of this gaming-related collection highlights the…

Read also: ETH Price Stalls as ETF Inflows Stay Weak Ether (ETH), the second-largest cryptocurrency, has experienced a notable increase in its circulating supply recently, which could potentially influence its price based on the principle of supply and demand. Data from ultrasound.money reveals a substantial addition of 16,411.40 tokens to Ethereum’s circulating supply over the past week. On August 25th, the supply of ETH was 120,308,385, rising to 120,324,796 by September 5th. The data also indicated around 92,000 ETH burned annually. It is important to note that the total ETH tokens issued in the past week amounted to 18,175.27 ETH,…

0xPPL, an innovative social networking resource for the crypto community, has completed a major round of strategic investments targeting its capabilities. However, some notable investors, such as Peak XV Partners, Alliance DAO, and Anagram, were involved in this effort. This investment focuses on building the platform’s growth, improving the products offered, and reinforcing its position as the preferred platform for on-chain social networks. Set up in August 2022, 0xPPL’s mission is to completely change how cryptocurrency enthusiasts come around, communicate, and spread information. With this new funding, 0xPPL intends to use the funds to introduce cutting-edge technologies such as decentralized…

While the answer to the question of whether every decline in Bitcoin and altcoins is an opportunity varies from investor to investor, according to these two whales it is “yes”. According to Lookonchain and Spot on Chain’s posts, two major crypto whales made significant purchases today. One bought a significant amount of BTC, while the other bought PEPE. Accordingly, the whale, which sold $467 million worth of BTC in July and dumped the BTC price, bought 1,000 BTC (worth $59.6 million) from Binance today. “The whale that allegedly sold $467 million worth of BTC in July bought 1,000 BTC ($59.6…

Iris Energy has reported a 10% increase in bitcoin production during August 2024, with the company mining 245 bitcoin. The improvement is attributed to higher operational efficiency and reduced electricity costs following the company’s transition to spot pricing. Iris Energy’s Bitcoin Mining Efficiency Leads to Output Growth In its August 2024 investor update, Iris Energy (Nasdaq: IREN) highlighted a rise in operational hashrate to 10.94 petahash per second (PH/s), compared to 9.01 PH/s in July. The company credited the production boost to optimized electricity pricing strategies at its Childress site, which resulted in electricity costs per bitcoin dropping to $29,958…

Following a significant downtrend, Bitcoin found strong support near the $50K threshold and experienced a notable rebound. However, the price has now approached a substantial resistance region around the 200-day moving average at $61K, potentially completing a pullback. Technical Analysis By Shayan The Daily Chart A detailed examination of Bitcoin’s daily chart reveals a significant increase in buying pressure and demand near the critical $50K support region, resulting in a substantial bullish rebound. Subsequently, BTC surged back toward a key resistance region, encompassing the 200-day moving average at $61K and the psychological resistance at $60K. This key area is likely…

The nine US exchange-traded funds (ETFs) tracking the spot price of Ethereum (ETH) have been struggling to attract new capital since their strong start in late July. Outflows from the Grayscale Ethereum Trust have contributed largely to the daily negative performance, with sluggish demand for other competing ETFs also playing a role. In this article, we discuss the current challenges facing spot Ethereum ETFs, their circumstances compared to spot Bitcoin ETFs, and how they can be successful with increased institutional adoption and regulatory developments. Spot Ethereum ETF performance: a snapshot According to data from Farside Investors, Grayscale’s Ethereum fund, also…

New altcoins and meme coins have swept aside several of the coins that shone during the last bull market. But while the market anticipates new entrants such as Dogs, Sui and Mantra to pick fresh momentum, there’s likelihood that Gala (GALA) could recapture attention alongside top altcoins Ethereum, Solana and Tron. Momentum is likely after Gala Games announced integration of Google Pay and Apple Pay to bolster payment solutions available to its users. Gala integrates Google Pay and Apple Pay Gala (GALA) is a blockchain-based gaming and web3 entertainment network with GALA as the native utility token. The blockchain platform’s…