Author: NBTC

Ethereum’s decreasing exchange supply may be caused by increasing ETH staking. Galaxy Research predicts $5 billion in inflows in first five months of Ethereum ETF launch. Ethereum needs to overcome the $3,629 key resistance to validate bullish thesis. Ethereum (ETH) is up nearly 3% on Thursday as upcoming spot ETH ETF launch and key on-chain metrics suggest an ETH rally might be around the corner. Daily digest market movers: Why declining ETH exchange supply, staked ETH and spot ETH ETF launch primes Ethereum for new high According to Glassnode data, Ethereum supply on exchanges has continued a downward trend despite…

While the puzzle of when the FED will start reducing interest rates continues, predictions now point to September. At this point, while analysts and top banks were focusing on September for the first interest rate cut, a statement also came from the giant US bank Morgan Stanley. Accordingly, the financial giant predicts that both the US Federal Reserve (FED) and the European Central Bank (ECB) may reduce interest rates in September. Speaking to CNBC, Andrew Sheets, a senior strategist at Morgan Stanley, said that these forecasts are based on the latest economic data showing that inflation is decreasing. Commenting on…

Coinbase exchange might be burning XRP in what might be considered the most subtle or unusual move ever. According to insights shared by block explorer XRPScan, the American trading platform incinerates a portion of the fees it receives from every internal XRP transfer. XRP burn – unusual bullish effort Coinbase relisted XRP recently after the digital exchange received clarification from Judge Analisa Torres that it is not an investment contract. Per the update from XRPScan, Coinbase burns 20 XRP as fees whenever it moves funds internally. While it is hard to accurately predict the reason for this burning, XRPScan noted…

The U.K. election is July 4, and polls indicate a new Labour government is inevitable. The crypto ecosystem in the U.K. has grown steadily under various, almost exclusively Conservative, governments since the birth of Bitcoin 15 years ago. So what does this change in leadership spell for the future of crypto? Laura Navaratnam is the U.K. policy lead for the Crypto Council for Innovation. The views expressed in this column are those of the author and do not necessarily reflect those of CoinDesk Inc. or its owners and affiliates. Prior to the election announcement, the industry had grown accustomed to…

Steno Research predicts net inflows of $15-20 billion into ether spot ETFs in the first 12 months. Ether is expected to hit $6,500 later this year due to strong ETF inflows and other positive factors, the report said. Galaxy Research estimates $5 billion of net inflows to spot ether ETFs in the first five months, Bitwise expects $15 billion of inflows in the initial 18 months. The crypto market is being overly pessimistic about the imminent launch of spot ether (ETH) exchange-traded funds (ETFs) in the U.S. and net inflows could hit $20 billion in the first year as the…

JPMorgan analysts are sounding the alarm about the potential inflationary impact of Donald Trump’s win in the upcoming presidential election and argue that markets have not adequately priced in the risks involved. In a note to clients, analysts said key policies proposed by the Trump campaign could raise inflation. “Markets do not yet appear to have priced in much risk premium for the inflationary effects of the Trump campaign’s major policies,” analysts wrote. The memo highlighted several policy goals stated by the Trump campaign: Extension of 2017 Tax Cuts: Trump aims to extend the tax cuts that were implemented in…

A research paper from three industry pundits confirms Ripple has formed partnerships with up to 80% of the banking industry in Japan. The research, prepared by veteran Statistician Dr. Hossein Hassani alongside research experts Xu Huang and Emmanuel Silva, spotlighted the substantial inroads Ripple has made within Japan’s banking industry. According to the study, about 80% of banks in Japan have partnered with Ripple, illustrating the increasing importance of blockchain in TradFi. Ripple, known for its robust payment solutions, has established itself as a formidable player in facilitating faster and more efficient cross-border transactions. ⚡️⚡️⚡️80 % of Japanese banking industry…

Popular singer Nine Chen has been referred to the prosecutor’s office for alleged fraud linked to Hong Kong‘s JPEX exchange. Chen had received 320,000 USDT to promote the now-crashed stock market in Taiwan. Taiwan’s Bureau of Investigation has referred popular Taiwanese singer Nine Chen to the prosecutor’s office in Taipei on charges of gross fraud and violating banking laws for her alleged involvement in a fraud scheme linked to Hong Kong’s JPEX exchange, according to local media reports. Following an investigation, Chen, who reportedly received 320,000 USDT last year to act as JPEX’s brand ambassador, was found to be involved…

Analyst and trader Jason Pizzino believes that Bitcoin (BTC) is gearing up for a big upside move en route to fresh all-time highs. Pizzino tells his 326,000 YouTube subscribers that the Bitcoin bull market is just taking a breather as it consolidates below its immediate resistance at around $69,000. According to the analyst, it is only a matter of time before BTC breaks out of consolidation and prints gains of around 100% from current levels. The trader uses the Fibonacci extension tool to identify his big BTC price target. “I don’t think the cycle’s over by any stretch of the…

Although Ethereum has outperformed Bitcoin in returns since the beginning of the year, investors still seem to remain bearish on its ETF. While trading in spot Ethereum exchange-traded funds (ETFs) has not yet started, Bloomberg reports that investors are already demonstrating a “bearish” sentiment towards the second-largest cryptocurrency, citing Fundstrat’s Head of Digital Asset Strategy, Sean Farrell. In a note, Farrell highlighted that despite the negative sentiment, hedge funds could still provide a significant boost to these ETFs by capitalizing on basis trade opportunities — the discrepancies between the spot and futures markets. Fundstrat Global and Galaxy Digital project that…