Author: NBTC

Cryptocurrency analyst and trader Kevin Svenson is saying that Bitcoin (BTC) is flashing bullish signals in a similar manner to what happened earlier this year. Svenson tells his 78,100 YouTube subscribers that Bitcoin is breaking out of a reversal bottom pattern. “We are breaking out of a reversal bottom pattern. So this is really bullish, I would say… Bitcoin is also above the Relative Strength Index (RSI) downtrend line on the daily chart. And this is just a signal for continuation to the upside…” The RSI is an oscillator used to identify oversold or overbought conditions. According to the analyst,…

The Aptos Foundation has proposed deploying Aave V3 on the Aptos mainnet, potentially marking Aave’s first expansion to a non-EVM blockchain ecosystem. Aptos Foundation has introduced a proposal to deploy Aave V3 on Aptos Mainnet as part of Aave’s open governance process. Aave Labs has built integration code and deployed it onto the Aptos testnet. If approved, this will be Aave’s first deployment to a non-EVM blockchain. Read… — Aptos (@Aptos) July 1, 2024 Currently in the “temperature check” phase, the proposal gathers initial feedback from Aave’s governance community. Aave Labs has already developed integration code and deployed it on…

Bitcoin (BTC) is down by 3% since June 24th, while Ethereum (ETH) managed to stay slightly up from its initial price on Monday, despite the market sell-off on that same day. Hank Wyatt, founder of DiamondSwap, shared with Crypto Briefing that this performance disparity can be attributed to the hype around the upcoming spot Ethereum exchange-traded funds (ETFs) in the US. Additionally, Wyatt highlighted that there is fear surrounding Mt. Gox payment plan set to start in July, as reported by Crypto Briefing. “News about the distribution of repayments to creditors caused a mild panic. Both BTC and ETH are…

Key Points: Cosmos Hub outage occurred for nearly 4 hours during a v17 upgrade but has now resumed normal operations. Informal Systems and Hypha Cosmos will release a post-mortem report detailing the outage and fixes. Similar blockchain outages occurred this year, including nine hours for dYdX Chain and five hours for Solana. The Cosmos Hub blockchain experienced an unexpected nearly 4-hour outage early this morning but has since resumed normal operations. Cosmos Hub Outage Causes Blockchain Downtime for 4 Hours 2 Cosmos Hub Outage Occurs During V17 Upgrade The Cosmos Hub outage occurred during the v17 upgrade, where Hub validators…

The revenue generated by bitcoin miners slightly declined in June, totaling $963.67 million, down from May’s $964.24 million. Additionally, the hashprice, or the expected value of one petahash per second (PH/s) of hashpower, decreased from $57 per PH/s to the current $48. Bitcoin Miners’ Hashprice and Revenue Decline in June Miners faced challenges during the summer of 2024, as June’s revenue was $570,000 less than May’s $964.24 million. In May, $64.85 million of the total revenue was from onchain fees. However, in June, out of the $963.67 million recorded by theblock.co’s mining revenue data, $101.25 million was attributed to fees.…

Layer-2 (L2) blockchains have registered a significant increase in unique addresses in the first half of 2024. Key network adjustments, including transaction fee reduction, and changes to protocol governance are some of the key reasons behind the growing interest. Optimism Shines in L2 Address Growth Data analytics platform Coin98 Analytics highlights significant growth in the number of unique addresses among L2 blockchains. BNBChain, Polygon, and Ethereum blockchains continue to lead the pack with the most number of addresses, data shows. Ethereum Layer-2 network Optimism stands out, recording the most new addresses, with over 58.4 million since January. This marks a…

Leading cryptocurrency Bitcoin reached a new ATH, surpassing its previous ATH of $69,000 before the halving in April. While the new ATH before Halvig increased investors’ bullish expectations, BTC experienced serious corrections afterwards. While these corrections caused speculation that the bear market had started again, CryptoQuant CEO Ki Young Ju made a post that would please investors. Stating that Bitcoin is in the bull market, CryptoQuant CEO said that BTC is currently in the middle of the bull market cycle. Stating that the current market value is growing faster than the realized market value, Ju argued that the bull may…

PancakeSwap V4 has executed a significant token burn, eliminating 8,589,242 $CAKE tokens. The value of these token burn is approximately $18 million USD. This strategic move aims to enhance the token’s scarcity and value over time. It will boost investor confidence and support long-term sustainability in the decentralized finance (DeFi) market. 🔥 8,589,242 $CAKE just burned – that’s $18M!💰 Trading fees (AMM V2): 82k CAKE ($176k) -44%💰 Trading fees (AMM V3): 144k CAKE ($309k) +82%💰 Trading fees (Non-AMM like Perpetual, Position manager etc): 0.4k CAKE ($1k) -94%🔮 Prediction: 63k CAKE ($136k) +45%🎟️ Lottery:… pic.twitter.com/oGgdFmcf5S — PancakeSwap v4🥞 (@PancakeSwap) July 1,…

It seems that there may be an inverse correlation between the memecoin market and that of NFTs, with the prices of these two types of assets moving in opposite directions. In particular, the memecoin market could at this moment be the cause of the strong suffering of the NFT market. The drop in NFT prices: is it the fault of the memecoin market? The memecoin market pushes NFT prices down Prices and volumes The hypothesis of the co-founder of Animoca Brands The recovery of the market The drop in NFT prices: is it the fault of the memecoin market? Comparing…

A quant has pointed out how the trends in the BitMEX exchange reserve have affected the Ethereum price during the past few years. BitMEX Ethereum Whales Have Shown Smart Money Behavior In Recent Years In a CryptoQuant Quicktake post, an analyst discussed a pattern in the ETH exchange reserve of the BitMEX platform. The “exchange reserve” here refers to an on-chain metric that keeps track of the total amount of Ethereum that’s sitting in the wallets of any given centralized exchange. When the value of this metric rises, investors will make net deposits to the platform right now. As one…