Author: NBTC

The Mt. Gox Bitcoin (BTC) and Bitcoin Cash (BCH) repayments have been a major pressure point for the crypto market and community for years. The situation turned particularly hot in the summer of 2024 as the failed BTC exchange not only began returning assets to its creditors after a decade, but drama swiftly emerged as various middlemen entities revealed there would be a substantial delay before the cryptocurrency was processed and fully returned. Kraken, in particular, came under fire as it announced a 90-day deadline – the longest among the major crypto exchanges – to fully complete the Mt. Gox-related…

Bitcoin’s (BTC) price troubles have reduced trading activity on the leading cryptocurrency exchange, Coinbase. This is measured by the coin’s Coinbase Premium Index (CPI), which has dipped into negative territory. American Investors Reduce Their Exposure On-chain data show that Bitcoin’s Coinbase Premium Index is -0.003 at press time. This metric measures the difference between BTC’s prices on Coinbase and Binance. Bitcoin Coinbase Premium Index. Source: CryptoQuant When its value grows, it suggests significant buying activity by US-based investors on Coinbase. Conversely, when it declines and dips into the negative territory, it signals less trading activity on the US-based exchange. Confirming…

According to Glassnode, Ethereum, the second-largest cryptocurrency by market capitalization, has seen its valuation climb by $354 billion, or 267%, since November 2022. Leading cryptocurrency exchange FTX, once valued at $32 billion, collapsed in a matter of days in November 2022. This information was presented in an H1, 2024, report entitled, “Digital Assets: Insights and Market Trends” jointly published by CME Group and Glassnode, which provides a complete overview of the digital asset landscape. #Bitcoin’s market cap increased by $1.13 trillion (+370%) since November 2022, and #Ethereum’s valuation rose by $354 billion (+267%) over the same period.Discover more insights from…

The total value locked (TVL) on popular Cardano-based decentralized exchange Danogo soars nearly 10X over the past seven days. Leading Cardano-based decentralized exchange Danogo has highlighted the dramatic increase in the total value locked (TVL) on its protocol. Danogo’s TVL Spikes Nearly 10X in Seven Days In an X post today, Danogo pointed out that its TVL surged nearly tenfold over the past seven days. Following the jaw-dropping milestone, Dango claimed to be the leading Cardano-based protocol with the highest TVL change in the past seven days. Data attached to the tweet shows that Danogo’s TVL spiked 921.43% within this…

Bybit, the second-largest Web3 platform in trading volume, has partnered with Ignition to link the Bitcoin and Ethereum ecosystems. Supported by Mantle and Antalpha Prime, this collaboration aims to make it easier for users to move between these two networks. It expands Bitcoin’s use beyond being a store of value. It also allows it to be a useful asset for different financial activities. Bybit Web3 Revolutionizes Decentralization with New FBTC Asset Under the terms of this partnership, the Bybit Web3 Wallet will list FBTC, an omnichain Bitcoin asset that is 1:1 pegged to BTC. With this integration, users can engage…

The price of Bitcoin (BTC) has been experiencing a real roller coaster in recent days, with last week’s substantial drop of more than 15% leading to even more uncertain swings. Thus, the major cryptocurrency has experienced a significant fall in recent days, dropping from $64,000 to just under $54,000 in five days. This was followed by attempts by buyers to recoup the decline. However, despite recapturing the $59,000 mark, it has not been able to hold that price consistently. At the time of writing, Bitcoin is trading at $58,465, which nevertheless represents a 6.5% recovery since the beginning of the…

Ethereum’s price has been dropping recently, following a second rejection from the $4,000 resistance level, and it has yet to recover. Technical Analysis By TradingRage The Daily Chart On the daily chart, the price has been making lower highs and lows since failing to break the $4,000 level to the upside a while ago. The market has also broken below the 200-day moving average, around the $3,100 mark. The price is currently retesting the 200-day moving average but is seemingly getting rejected to the downside. As things currently stand, the cryptocurrency seems likely to drop toward the $2,700 support level…

Oracle provider Chainlink and stablecoin issuer Circle want to expand stablecoin utility for institutions through a new partnership. Chainlink has made a name for itself as the industry-standard decentralized computing platform while Circle is a global financial tech company that issues both the USDC, the second-largest stablecoin on the market, and the EURC. This new partnership will make use of Circle’s developer platforms and Chainlink services to expand stablecoin utility for enterprise use. Since it launched in 2021, Chainlink has empowered the DeFi market with price oracles that have enabled over $1.3trillion worth of transactions across six different blockchains. This…

In light of the Securities and Exchange Commission dropping its probe into Paxos over its branded Binance stablecoin (BUSD) — after it was almost completely unwound — one wonders whether there was any material impact on Binance. It turns out, not so much, at least going by how much crypto users are keeping there. Collating Binance’s monthly proof of reserves reports shows the firm disclosing $115 billion in user funds at the start of July, up from $61 billion one year ago. When reports first surfaced of a years-long Department of Justice investigation into Binance in December 2022, there was…

Bitcoin has experienced its steepest decline in the current cycle, trading over 26% below its all-time high (ATH), according to onchain analysis firm Glassnode. This contraction has significantly affected short-term holders, with over 2.8 million BTC now below their acquisition price. Bitcoin Market Faces Significant Drawdown, Glassnode Reports Despite the notable downturn, Glassnode’s latest analysis highlights that this drawdown remains historically shallow compared to previous cycles. The current market cycle, spanning 2023-24, has exhibited both similarities and differences to past cycles. Following the collapse of FTX, bitcoin enjoyed 18 months of steady appreciation, only to face a correction exceeding 26%…