Author: NBTC

The correlation between Bitcoin (BTC) and the S&P 500 index is witnessing a significant shift as both asset classes continue to record divergent value movements. In this regard, market expert Ali Martinez suggested in a July 11 X post that this decoupling could indicate a substantial move ahead for Bitcoin. Notably, Bitcoin’s price and the S&P 500 index have diverged significantly over the past month. While Bitcoin retraced to $54,000, the S&P 500 surged to new all-time highs. This divergence is particularly striking, as the two assets had previously shown a strong correlation. Historically, Bitcoin and the S&P 500 have…

ORDI: Surged by 16.1% to $50.33 with a $1 billion market cap and $516 million trading volume. RATS: Up 13.8% at $0.0001714, with a market cap of $177.05 million and $71.35 million trading volume. QI: Marked a 6.9% increase, hitting $0.01956, boasting a $93 million market cap and $12 million volume. Amid unexpected market fluctuations, these 4 cryptocurrencies showed significant price increases. From Ordinals to IoTeX Network, let’s dive deeper and find out what makes them shine in the market today, May 31st. Ordinals (ORDI) The price of Ordinals (ORDI) rose 16.1% in 24 hours and has now touched $50.33.…

The US Securities and Exchange Commission (SEC) is allowing some banks and brokerages to avoid reporting customer crypto holdings on their balance sheets under certain conditions, Bloomberg reported today, citing a source familiar with the SEC’s guidelines. To avoid the reporting requirement, companies must have safeguards in place to address risks associated with crypto holdings. These safeguards include protecting assets in case of bankruptcy and having strong internal controls. Bloomberg’s source said the change was the result of “closed-door” negotiations between financial entities and the SEC. The regulator believes companies have improved security measures to address hacking and business failures…

Decentralized derivatives platform Horizon Protocol confirms the approval of HIP-16 proposal to list XRP, Cardano (ADA) and Chainlink (LINK). In a recent X post, the trading and liquidity pool protocol disclosed plans for new listings to the Horizon Futures. The decentralized derivatives protocol urged users to prepare to trade XRP, ADA and LINK on the derivatives market. New listings coming to Horizon Futures! ⚡ Get ready to trade $XRP, $ADA, and $LINK with low fees and up to 27.5x leverage! Set up your trading account today! https://t.co/BmBq5kea1A — Horizon Protocol (@HorizonProtocol) July 10, 2024 The post echoes Horizon Protocol’s official…

While bitcoin (BTC) has struggled mightily over the past months, with its price falling more than 20% since hitting a record high in mid-March, U.S. stocks – as represented by the Nasdaq Composite and the S&P 500 – have seemingly been on a one-way path higher. Both of those equity averages closed in the green for the seventh consecutive day on Wednesday, with both hitting all-time highs. For the S&P 500, it was its 37th record close of 2024 and for the Nasdaq, its 27th, according to MarketWatch. A report yesterday in The Block noted that bitcoin’s correlations with those…

Hopes for a spot Ether ETF remain high as Nate Geraci, President of ETFStore, reiterated his optimism about an imminent launch, even as issuers filed amended S-1 forms with the SEC on Monday. Spot eth ETF S-1 amendments supposedly due tomorrow…How quickly will SEC turn these around?Again, main item I’m watching for is fees (which won’t be required w/ these amendments).Otherwise, assume issuers gearing up for launch in next week or two. — Nate Geraci (@NateGeraci) July 7, 2024 In late June, the Securities and Exchange Commission returned the S-1 forms to issuers, requesting changes. While issuers were asked to…

The Cardano community has been buzzing lately about a revelation that Intersect, a key player in the ecosystem, does not currently accept payments in ADA, blockchain’s native cryptocurrency. This has sparked questions about the viability of widespread cryptocurrency adoption if internal organizations are not fully on board. Intersect, which is focused on Cardano’s continuity and future development, including community-led governance and open-source development, had initially limited payment options to fiat currencies. This decision caused confusion and frustration among Cardano supporters, who questioned the commitment to ADA’s integration within its ecosystem. The situation caught the attention of Charles Hoskinson, the creator…

US senators from both parties are trying again to stop Congress members from trading stocks. A group of 20 senators wrote a letter on July 9 to House Speaker Mike Johnson and Democratic Leader Hakeem Jeffries. They want an amendment to the Stop Trading on Congressional Knowledge Act (STOCK Act) of 2012 to prevent lawmakers from trading stocks. In their letter, the senators wrote: “As we head into the last few months of the 118th Congress, we believe that taking action on this common-sense, bipartisan legislation will ensure that members of Congress are serving the country and their constituents, not…

Binance is reportedly nearing a deal to sell its majority stake in crypto exchange Gopax to Korean cloud provider Megazone. Cryptocurrency exchange Binance is in advanced talks to sell its controlling stake in Gopax, one of South Korea’s crypto exchanges, to Megazone, a South Korean infrastructure provider for cloud solutions, according to local news outlets, which cited sources close to the matter. Binance, which acquired a 72.26% stake in Gopax in February last year, is now seeking to reduce its ownership in Streami, the operator of Gopax, from 72.6% to approximately 10%, a move that is aimed at “improving its…

The German state of Saxony is quickly running out of bitcoin (BTC) to sell after moving another batch of its confiscated assets to crypto exchanges and brokers on Thursday. Bitcoin wallets linked to the German authorities transferred a total of 10,567 BTC worth over $600 million in multiple batches during the day to crypto exchanges Bitstamp, Coinbase, Kraken and other service providers such as Flow Traders and Cumberland DRW, blockchain data by Arkham Intelligence shows. After today’s transactions, the wallets linked to the authorities held only 4,925 BTC worth $285 million at current prices, down from the 50,000 BTC worth…