Author: NBTC

Key Points: $9 billion in Bitcoin returns from Mt. Gox’s compensation currently weighs on market sentiment. Bitcoin and other cryptocurrencies drop 4% amid German sales and post-election caution. Despite repayments, Mt. Gox retains $7.5 billion in Bitcoin, raising market stability concerns. Bitcoin is experiencing renewed pressure amidst concerns over the ongoing Mt. Gox’s compensation, the defunct cryptocurrency exchange. Reports indicate that approximately $9 billion worth of Bitcoin is being returned to creditors, further complicating market sentiment. Mt. Gox’s Compensation Impacts Bitcoin Market The Mt. Gox exchange, which filed for bankruptcy in 2014 after losing 850,000 Bitcoins to theft, has recovered…

Ethereum experienced a bounce from the critical support area. However, according to analyst Josh of Crypto World, additional signals are needed to confirm the bullish trend reversal, which we have observed over the past few days. Despite the bullish momentum, short-term pullbacks are possible, especially around resistance levels. The technical price target for this pattern is approximately $3,900, marking a potential 14% upside if the pattern completes. This bullish reversal remains valid unless Ethereum breaks back below the breakout point, which has not occurred, keeping the bullish trend active. Short-Term Resistance and Support Ethereum faces resistance between $3,480 and $3,520.…

Moody’s has announced a partnership with the Monetary Authority of Singapore’s Project Guardian. This collaboration aims to enhance market efficiency through a public-private tokenization initiative. Wendy Cheong, Managing Director and Regional Head of Asia-Pacific for Moody’s Ratings says, “Moody’s is entering a new era of brand identity, innovation, and collaboration, and we’re proud to be part of this project at the forefront of asset tokenization.” Also Read: WazirX halts trading after a $234 million hack The company intends to offer risk analysis for Project Guardian, which began in 2022. Moody’s will examine fixed-income products such as stablecoins, tokenized deposits, fractionalized…

Over the weekend, the crypto community saw suspicious behavior from several X accounts. Crypto figures and celebrities were suspected of being hacked after some unusual posts promoting memecoins. Among the celebrities, Olympian and reality TV star Caitlyn Jenner saw a turbulent launch of her JENNER token due to hack and back exit scam rumors. Despite the confusing start, the memecoin has soared by 50,000% since its launch. The Sunday Of Memecoins Launches On Sunday, the crypto community was on edge after a series of dubious posts were shared on different X accounts. First, crypto trader GCR’s account was compromised. The…

Key Points: According to Coingecko, Upbit, South Korea’s largest crypto exchange, saw its trading volume drop sharply to $30.4 billion in June, down 44.8% from May’s $55.2 billion. Upbit’s decline in trading volume is the most significant among mainstream exchanges; signalling heightened sensitivity to regulatory uncertainties in South Korea. According to Coingecko data, Upbit trading volume recorded a massive drop in its spot trading volume for June. It tumbled by 44.8% to $30.4 billion from $55.2 billion the previous month. That is the most significant drop among major cryptocurrency exchanges, which adds more evidence that the exchange reacted too sensitively…

Just like oscillators, moving averages (MAs) are indispensable tools in technical analysis, providing traders with insights into price trends and potential market reversals. In this learning and insights article, we’ll delve into the history, types, and application of moving averages leveraged in bitcoin trading, highlighting their significance and utility in the crypto market. The History of Moving Averages The concept of moving averages (MAs) was developed in the early 20th century by American statistician Robert Rhea. Initially applied to stock prices, MAs gained prominence in the mid-20th century with the advent of more sophisticated computing technology. Similar to oscillators, the…

Analyst Eric Balchunas has raised eyebrows over the steep 2.5% fee structure of the Grayscale Ethereum Mini Trust (ETH), sparking debate among crypto enthusiasts. Balchunas questioned on social media platform X (formerly Twitter) whether the Trust can attract enough organic investment to offset potential withdrawals, given the availability of lower-cost alternatives like BlackRock’s offering, which charges a mere 0.25% fee. Cheap but not sure cheap enough to move the needle (as most are cheaper and brand name BlackRock is same fee) to attract organic flows to offset The Big Unlock. And do these newborns have enough strength to offset those…

Cryptocurrency exchange Bitrue says it has allocated $40 million for its new fund to help teams develop their technology and “bring their coins to fruition.” Singaporean crypto exchange Bitrue is launching a $40 million investment fund in an effort to support nascent web3 companies, the exchange said in a Thursday blog announcement. Startups can receive up to $200,000 in funding from Bitrue Ventures, along with additional support such as development expertise, industry connections, and management support. Although no specific technical requirements have been outlined, Bitrue Ventures indicated a preference for projects in sectors like artificial intelligence (AI), real-world asset tokenization…

Venture capital (VC) fund Shima Capital accumulated five different meme coins on Monday, according to on-chain data firm Nansen. The VC made bets on Ethereum-based meme coins MAGA, TRUMP, WOJAK, DEGEN, and ANDY. At the time of writing, four out of five of their positions are resulting in unrealized losses. Shima’s highest bet was the DEGEN token, with $49,561 bought in the last 24 hours. Since they acquired the meme coin, its price has fallen by almost 4%. The VC investment in TRUMP was significantly smaller, as Shima allocated $8,992 to the US presidential election-themed meme coin. Their TRUMP holdings…

Copper has secured a Trust or Company Service Provider (TCSP) license in Hong Kong. The license win represents a key development in the company’s expansion in the Asia Pacific market. Crypto custody specialist Copper has secured a Trust or Company Service Provider (TCSP) license in Hong Kong, the company said in a press release on Wednesday. The license is a legal authorization granted by Hong Kong’s Companies Registry and permits the holder to provide trust and corporate services to institutions in the region. The win represents a key step in Copper’s global expansion and the firm’s compliance with international regulations,…