Author: NBTC

More than 80% of short-term Bitcoin holders are currently losing money on their BTC positions, according to a popular on-chain analyst. The pseudonymous on-chain sleuth known as Checkmate tells his 97,000 followers on the social media platform X that the short-term holder (STH) metric looks similar to charts in 2018, 2019 and mid-2021, all of which signaled investor panic and incoming bearish trends. The analyst defines STH as entities that have held their coins for less than 155 days. Source: Checkmate/X But the analyst says this time could be different because while a huge number of short-term holders are in…

Is the Ethereum co-founder doubtful about the long-term potential of DeFi? Well, one of his latest statements about DeFi in X sounds so. Unsurprisingly, the controversial statement has received strong criticism from the crypto community, even from a few top crypto business leaders like DeFinance Capital founder and CIO Arthur and Frax Finance founder Sam Kazemian. The core of this fierce debate is what you are going to present to you below. Interested? Then, Dive in! Ethereum Co-Founders’ Concerns about DeFi Unveiled From the statement by Vitalik Buterin, it can be assumed that the Ethereum leader is of the opinion…

Magic Eden, a leading NFT marketplace, is set to launch its own native token, $ME, marking a significant development in the crypto ecosystem. This announcement comes amidst ongoing fluctuations in the NFT market, which has seen considerable trading volume decline over the past year. Matt Szenics, director of the ME Foundation, mentioned the token will empower holders through participation in a decentralized autonomous organization (DAO). Magic Eden prepares to launch its native token $ME, signaling new strategies in the evolving landscape of NFT marketplaces. Details on the Upcoming $ME Token The ME Foundation, which partially consists of former employees from…

The anticipation of a Federal Reserve interest rate cut is creating ripple effects throughout the financial markets. Experts believe that a timely rate reduction could invigorate the cryptocurrency market, affecting investments and borrowing strategies. “A Fed rate cut not only impacts liquidity but also reshapes market dynamics, particularly within emerging asset classes like cryptocurrencies,” said financial analyst Jane Doe. This article explores how an anticipated Federal Reserve rate cut might transform the cryptocurrency market, marking significant changes in investment patterns and asset valuations. Impact of a Fed Rate Cut on Liquidities in the Crypto Market Market analysts are closely monitoring…

Crypto exchange Binance has launched its One Click Buy and Sell (OCBS) service in Africa, enabling users in Ghana, Tanzania, Uganda, and Zambia to buy and sell cryptocurrencies via mobile money accounts. This initiative aims to enhance financial inclusion, particularly for the unbanked and underbanked populations. Binance Expands Services in Africa, Boosting Crypto Accessibility Cryptocurrency exchange Binance announced the launch of its One Click Buy and Sell (OCBS) feature in Africa last week, expanding its services to Ghana, Tanzania, Uganda, and Zambia. Binance stated: With the launch of our OCBS feature, users can now easily purchase crypto assets and sell…

Gryphon Digital Mining, Inc. (NASDAQ: GRYP) has taken a big step in lowering its power costs by acquiring Bitcoin mining operations in Louisiana that leverage ultra low-cost electricity at approximately $0.01 per kilowatt hour (kWh). Gryphon Acquires Ultra Low-Cost Power Mining Operations at ~$0.01/kWh.Key highlights include: • Ultra-low cost of ~ 1 cent per kWh• Identified a pipeline of 500 MW of similar opportunities • Immediately accretive operating asset that is already generating cash flowRead… pic.twitter.com/DKNQnjzZJl — Gryphon Digital Mining (@GryphonMining) August 20, 2024 This $1.5 million acquisition, which includes up to 2.9 megawatts (MW) of operational capacity and 59…

Immutable X recently onboarded Squid, its newest strategic partner. With this integration, users can easily swap tokens across different chains. This partnership aims to boost innovation in the web3 gaming space while ensuing top-notch security for the users. Access Immutable and the entirety of our gaming ecosystem, through @squidrouter!Squid is now live on Immutable Passport and Toolkit. Immutable zkEVM is one of the fastest-growing chains in history and Squid now provides swap capabilities at the fingertips for all gamers.… pic.twitter.com/5P7KzUE3eq — Immutable (@Immutable) August 26, 2024 Squid is a cross-chain liquidity router that allows anyone with a crypto wallet to…

Bitcoin (BTC) bulls have taken control of the cryptocurrency in the short term, driving the asset to reclaim the crucial $60,000 resistance zone, with technical indicators hinting at the potential for further upside. Indeed, this short-term momentum has led crypto analyst The Moon, in an X post on August 20, to point out that Bitcoin has broken free from a descending channel that had been suppressing its price for the past two weeks. According to the expert, Bitcoin had been consolidating within this downtrend, with prices fluctuating between $58,000 and $62,000. The breakout above the upper boundary of the descending…

Solana’s DeFi ecosystem has exploded over the past year, with the ease of trading meme coins attracting more participants to this Layer 1 chain. The latest stats on DeFi Llama show a total value locked (TVL) of $4.7 billion, almost 3x since the beginning of 2024. Behind this success is the Solana Virtual Machine (SVM), the blockchain’s execution software which performs similar functions to Ethereum’s Virtual Machine (EVM) – smart contract execution and transaction processing. However, unlike the EVM, Solana’s runtime environment is more efficient; it can handle up to 4000 transactions per second (tps) while EVM touts an average…

Cristiano Ronaldo, one of the world’s most famous soccer players, has partnered with Binance to launch multiple NFT collections, aiming to revitalize the NFT market. Binance recently launched the Forever Worldwide: The Road to Saudi Arabia NFT collection in partnership with Ronaldo. This was the fourth collection in their collaboration and was exclusively available on the Binance NFT Marketplace. The collection featured seven unique NFTs, each representing a key location in Ronaldo’s career: Madeira, Lisbon, Manchester, Madrid, Turin, Saudi Arabia, and Portugal. Collectors were able to earn rewards based on the number of unique NFTs they owned. The first drop…