Author: NBTC

A widely followed crypto analyst says that investors likely can’t expect Bitcoin (BTC) to spark a rally for at least a few more months. In a new video update, crypto strategist Benjamin Cowen tells his 802,000 YouTube subscribers that based on history, the crypto king could be in a downtrend until September or October before breaking out to the upside. Looking at BTC’s 2019 chart, Cowen notes that it took Bitcoin 202 days to break out of a similar downtrend, a pattern that could form this time around as well. “If you actually look at the time range on this…

The TRON DAO has officially announced LayerZero support for the TRON blockchain, making TRON the second non-EVM chain to be integrated into LayerZero’s cross-chain interoperability protocol. This significant development allows TRON ecosystem developers to seamlessly expand their applications to over 70 other networks supported by LayerZero. LayerZero is a cutting-edge interoperability protocol designed to facilitate seamless interactions between different blockchain networks. With LayerZero’s integration, TRON developers can now effortlessly deploy their decentralized applications (dApps) across multiple blockchain platforms, enhancing interoperability and accessibility. This capability also enables developers on other LayerZero-supported networks to bring their applications to the TRON mainnet. TRON…

XRP, the cryptocurrency associated with Ripple Labs, is showing signs of a potential resurgence, according to recent sentiment analysis and upcoming regulatory developments. Positive investor sentiment, coupled with the looming SEC settlement discussion and technical indicators, point to a possible bullish trend for the digital asset. The Paul Barron Network’s sentiment metrics revealed an overall trade sentiment of 65, a volume sentiment of 61, and an overall average sentiment of 55. The upcoming settlement discussion announced through the SEC’s Sunshine Act notice, a meeting is scheduled for July 18th. This meeting will address the institution and settlement of injunctive actions,…

Traditionally in the domain of institutional investors, structured products combine various assets and derivatives to create tailored risk-return profiles. With the advent of blockchain, the potential for this market segment is enormous, promising significant cost reductions, enhanced composability, and improved accessibility. Currently, the global structured notes market is estimated to be worth more than $2 trillion, and blockchain stands to help widen the breadth of the market from origination to investor base. Let’s take a look at this in more detail. Streamlining Processes and Cost Reduction Traditional structured products involve multiple intermediaries such as brokers, custodians, and clearinghouses, leading to…

Bitcoin (BTC) began the new week on a downward trend, trading at $54,404. Over the past 24 hours, the cryptocurrency’s minimum was $54,481, and its maximum reached $58,371. Since the start of the month, Bitcoin has declined by over 11%. Crypto skeptic Peter Schiff noted that recent trading patterns and ETF inflows suggest that experienced investors are selling BTC on the spot market, while less experienced investors are purchasing it through ETFs. He implied that whales have strategically positioned ETF investors to bear the brunt of potential losses. Based on the trading patters and ETF inflows, it looks like the…

DeFi Technologies, a publicly traded Canadian company, is expanding its crypto portfolio by acquiring more Bitcoin and other digital assets like Solana to its treasury, according to a July 18 statement shared with CryptoSlate. Olivier Roussy Newton, CEO of DeFi Technologies, said: “Our increased BTC holdings, strategic investment in SOL, CORE and participation in CORE’s staking facility reflect our commitment to leveraging the most promising opportunities in the decentralized finance landscape. These actions not only diversify our balance sheet but also align with our mission to bridge traditional capital markets with the innovative world of DeFi.” Bitcoin purchase On July…

According to the State of XRP Ledger Q1 2024 report released by Messari, XRP Ledger experienced a remarkable increase in payment transactions, rising 350% quarter-over-quarter (QoQ) to an average of two million per day. This surge in activity, driven by inscriptions, began in late Q4, 2023, and continued into Q1, 2024, before tapering off by the quarter’s end. Over 22 million payments were executed in just one week, primarily due to inscriptions, leading to two million daily payment transactions during Q1. The dramatic increase in payment transactions had a substantial impact on the overall transaction landscape of the XRP Ledger.…

After the UAE was taken off the FATF (Financial Action Task Force) grey list and even prior to that, the UAE continues to take action to ensure improved AML/CTF (Anti Money Laundering) and (Counter-Terrorist Financing) especially when it comes to virtual assets. On July 10th, 2024, the Executive Office of Anti-Money Laundering and Counter Terrorism Financing (EO AML/CTF) started implementing over 100 recommendations from the UAE’s National Risk Assessment (NRA). This came after the twenty-first meeting of the Higher Committee Overseeing the National Strategy on AML/CFT, chaired by H.H. Sheikh Abdullah bin Zayed Al Nahyan, Deputy Prime Minister and Minister…

OP_CAT is a proposed Bitcoin upgrade, aiming to bring Ethereum-like smart contract capability to the world’s oldest and largest blockchain network. While by no means short of supporters, OP_CAT remains in its very early stages in terms of acquiring the consensus necessary to be merged into Bitcoin’ core software. Layer-2 developer StarkWare, the primary builder behind the Starknet network atop Ethereum, has offered a glimpse of what could be possible on the Bitcoin blockchain if a pending technical proposal known as OP_CAT were adopted. Working on a Bitcoin’s testing environment known as Signet, and using OP_CAT, StarkWare says it demonstrated…

Over the weekend, Bitcoin (BTC) ‘s price circled between $54,424 and $58,215. However, as the new week begins, the coin presents an interesting revelation on-chain that could influence its next direction. To put it in perspective, this condition has been historically crucial to BTC’s recovery. Will it be the same this time? Bitcoin Oversold, Drives Multiple Bids The metric in question is the NVT Golden Cross. NVT stands for Network Value to Transaction. Defined as a reformed index of the NVT ratio, the metric gauges if Bitcoin has hit the bottom or is at the top. When the value of…