Author: NBTC

As Ethereum’s presence in smart contracts nears the 40% threshold, the scarcity of this cryptocurrency is becoming more evident. However, recent market trends paint a complex picture for ETH enthusiasts. Ethereum’s Growing Scarcity The increasing allocation of Ethereum into smart contracts signifies a tightening supply. With nearly 40% of ETH now locked in these contracts, the available amount for trading and other uses diminishes. This scarcity could potentially lead to significant price movements if demand surges, making ETH a crypto asset to watch closely. In the last 24 hours, the price of Ethereum has marked a rise of around 4.8%,…

Analysts at H.C. Wainwright & Co. believe that Hut 8 Mining’s stock is now valuable due to some of their strategic advances. Hut 8 Mining Corp. received a double upgrade in its rating from “Sell” to “Buy” by analysts at H.C. Wainwright following the release of its second-quarter financial results. The price target was also lifted from $7.50 to $13.50 per share, implying an upside potential of around 23% from current levels, driven by the company’s recent strategic developments. Hut 8’s positive developments The upgrade is driven by several positive catalysts, including Hut 8’s success in reducing electricity costs, now…

Ripple, the XRP Ledger (XRP) developer and largest holder, spent 150 million XRP from this month’s reserves on July 9. The sale is worth $64.5 million, $13.5 million less than the same activity last month, as reported by Finbold. On July 1, the company released 1 billion XRP from the initial distribution, locked in monthly escrows until 2027. Ripple then sent 200 million XRP to its treasury account and relocked the remaining 800 million in new escrows. Additionally, the ‘Ripple (35)‘ account sent an extra 100 million tokens to the sell-off reserves, totaling 300 million XRP. As usual, the selling…

Bitcoin miners are expanding their hashing capacity, reaching new record highs despite ongoing challenges in profitability. This report from Cryptoquant Institutional Insights highlights that miners are selling off assets as they face diminishing profit margins and rising operational difficulties. Bitcoin Miners Face Capitulation Amid Record-High Hashrate and Squeezed Margins In the latest findings from Cryptoquant’s research team, Bitcoin’s network hashrate has hit an all-time high, even as the leading crypto asset trades at approximately $59,000, which is 19% below its peak value. The research report indicates that miner capitulation events are becoming more frequent, with miner outflows spiking to 19,000…

Bitcoin (BTC) is struggling to maintain its momentum after reaching $70,000 in early June. Despite reaching this level about two weeks ago, Bitcoin price has mostly trended down or sideways, mirroring levels from three months ago. This nearly 7% decline is attributed to a variety of factors rather than a single major event. One reason for the relative stagnation, according to analysts, is the stagnation of 11 spot Bitcoin exchange-traded funds (ETFs). Interest in these ETFs increased in January after they were approved by the SEC. According to CoinGlass data, these ETFs are now worth a total of over $53…

Lumia, a leading innovator in blockchain technology, has announced the details of its strategic fundraising round, marking a pivotal moment in its journey towards revolutionizing the decentralized finance (DeFi) landscape and the integration of Real-World Assets (RWAs) into blockchain ecosystems. This news coincides with Lumia achieving a significant milestone: surpassing the sale of 25,000 nodes, showing its rapid growth and strong market demand. The strategic fundraising round was spearheaded by Nomura’s digital asset arm, Laser Digital, which has been a key player in bridging traditional finance with the rapidly evolving digital asset space. Additional notable participants in this funding round…

On August 14, the United States will release the monthly Consumer Price Index (CPI) data, a leading economic indicator. U.S. CPI news may influence all finance markets worldwide, including cryptocurrencies, stocks, forex, and commodities – driving Finbold to seek insights on an Ethereum (ETH) price prediction. Ethereum is the second-largest cryptocurrency by market capitalization behind Bitcoin (BTC) and the most valuable blockchain infrastructure ecosystem. Recently, the project has gained the spotlight with traditional finance participants like BlackRock (NYSE: BLK) through the ETH spot ETFs. Therefore, as the leading Web3 and decentralized finance (DeFi) token grows in relevancy on Wall Street,…

Shiba Inu (SHIB) lead developer Shytoshi Kusama has shared a crucial update on what the future holds for the meme coin ecosystem. Kusama shared his vision for the protocol in a lengthy post on X. Shiba Inu’s push for partnerships and decentralization According to Kusama, the core vision of Shiba Inu founder Ryoshi is to create a highly functional decentralized ecosystem. To complement the plans, Kusama revealed that some partnerships are being cemented with industry leaders. The Shiba Inu team is also engaging Web2 companies that are exploring a path into the Web3 ecosystem. While he did not mention any…

A recent International Monetary Fund report claiming a surge in carbon emissions from AI and crypto usage has sparked a rebuttal from Bitcoin advocate Daniel Batten. The report suggests that regulators should impose a ‘crypto carbon’ tax due to the alleged environmental impact of Bitcoin (BTC) mining. Batten argued that the report is based on flawed comparisons and outdated data, going on to criticize the IMF’s use of a “guilt by association” technique, equating the carbon footprint of Bitcoin mining with that of AI data centers without contemporary evidence. Batten points out that Bitcoin mining, unlike AI data centers, has…

As Bitcoin’s price wavers, the crypto community is closely monitoring key levels that could determine the short-term trajectory of the largest crypto asset. According to Glassnode Cofounders, who go by the name “Negentropic” on X, Bitcoin bulls might need to keep a vigilant eye on the $64,000 and $65,000 levels, which are emerging as crucial junctures for BTC’s price action. Amid the current price dip, Bitcoin (BTC) now exhibits the potential to rebound toward $67,000, Negentropic stated. DEEP DIVE: 64-65k on BTC is crucial!Initially dropping on Monday, BTC now shows potential to hit $67K, with possible resistance. Surpassing this could…