Author: NBTC

Ethereum price has held relatively well in the past few days as the odds of spot ETF approvals rose. ETH token was trading at $3,455 on Friday, a few points above this week’s low of $3,233. It remains in a correction zone after falling by 13% from its highest point this month. The main catalyst for Ethereum is the anticipated spot Ethereum ETF approval by the Securities and Exchange Commission (SEC). As we reported on Thursday, there is a rising possibility that spot Ethereum ETFs will start trading soon. The rising anticipation happened after VanEck filed form 8-A, which is…

Dog-themed cryptocurrency Shiba Inu (SHIB)’s community is seeing a surge in burn rate, which has skyrocketed by an astounding 3,894%. This significant increase has led to millions of SHIB tokens being permanently removed from circulation. Token burning is a process where a certain amount of cryptocurrency is burned to reduce its overall supply. This is typically done by sending the tokens to a “burn” address, a wallet from which they can never be retrieved. The primary goal of burning tokens is to create scarcity, which can potentially increase the value of the remaining tokens. In the last 24 hours, Shiba…

In a landmark decision on June 28, 2024, the Supreme Court of the United States, by a 6-3 vote, overruled the longstanding Chevron doctrine, fundamentally reshaping the landscape of administrative law and judicial review. The case,Loper Bright Enterprises v. Raimondo, signals a significant shift in the balance of power between the judiciary and administrative agencies. This decision not only reinforces judicial independence but also presents substantial benefits for the Bitcoin industry, echoing the implications of last year’s West Virginia v. EPA decision. The Case The Chevron doctrine, established in Chevron U.S.A., Inc. v. Natural Resources Defense Council, Inc., 467 U.S.…

The Bitcoin (BTC) price has reached the critical golden ratio resistance at around $67,500. BTC has been up roughly 10% in the last four days. However, Bitcoin is now encountering significant resistance. Will this lead to a bearish rejection for BTC? Will Bitcoin’s Current Price Return to the Upward Trend? Bitcoin’s price has risen over 10% in the last four days, forming a bullish price pattern. This is due to Bitcoin creating an inverse head-and-shoulders pattern, from which the BTC price has already broken out bullishly. The golden ratio near $67,500 coincides with BTC’s crucial Fibonacci resistance. A bullish break…

Crypto trader Duncan has explained why he is “extremely long” on Ethereum (ETH) despite the crypto token’s recent drop to around $3,400. He emphasized the Spot Ethereum ETFs, which he believes could spark a significant rally for ETH. A ‘Significant Upside Repricing’ Could Be On The Horizon ForTHEEthereum Duncan mentioned in an X (formerly Twitter) post that he believes that the market is way too bearish at the moment and that there could be a “significant upside repricing” for Ethereum if the Spot Ethereum ETF inflows are “anything but horrible.” He further explained why he thinks the Spot Ethereum ETFs…

The Securities and Exchange Commission filed a suit against Consensys Software on Friday. The SEC is alleging that the company failed to register as a broker as well as offering and selling unregistered securities. Specifically, the SEC targeted MetaMask Swaps. The regulator alleges that Consensys “holds itself out as a place to buy and sell crypto assets (which include crypto asset securities), recommends trades with — as Consensys itself puts it — the ‘best’ value, accepts investor orders, routes investor orders, handles customers assets, carries out trading parameters and instructions on the customer’s behalf, and receives transaction-based compensation.” “By its…

Approximately 14 years ago today, Laszlo Hanyecz posted on bitcointalk.org, offering 10,000 bitcoins for “a couple of pizzas.” However, most people are not aware that it took him four days to finalize the transaction, which is now worth $670 million. The Famous Bitcoin for Pizza Offer That Took 4 Days to Complete In May 2010, bitcoin (BTC) was essentially valueless, with coins considered worthless or traded for very little value. On May 18, 2010, programmer Laszlo Hanyecz proposed trading 10,000 BTC for some pizzas. The offer, which took place 14 years ago today, is officially recognized as the first documented…

A number of exchange-traded funds (ETFs) that will track the spot price of Ethereum (ETH), which were previously greenlit in May, are expected to become tradeable in the first week of July. In a recent post on X, senior ETF analyst Eric Balchunas noted that spot Ethereum ETFs might go live as soon as July 2. In another report by Reuters, the US Securities and Exchange Commission (SEC) might give its approval by July 4. As the market awaits the launch of these new funds, there is an expectation that the leading altcoin would react the same way Bitcoin (BTC)…

Arthur Hayes, co-founder of BitMEX, has recently unstaked 1.55 million PENDLE tokens, valued at $9.41 million. Hayes’s actions usually coincide with significant price changes in PENDLE, hinting at possible profit-taking. This suggests that potential sales could influence the token’s market dynamics. How Arthur Hayes’s Actions Influence PENDLE Price Hayes’s transaction, detected by on-chain tracker Lookonchain an hour ago, immediately spiked discussions among the crypto community. According to the platform data, BitMEX co-founder currently holds 1.69 million PENDLE, worth approximately $10.26 million, with an average purchase price of $2.24 per token. Hayes’ unrealized profit stands at $6.46 million. The accompanying chart…

Jump Crypto has fallen from grace. Despite its best efforts to distance itself from Sam Bankman-Fried following the spectacular collapse of FTX, Jump had unfortunate ties to his fraudulent empire that the CFTC might now be investigating. As Michael Lewis documented in his book Going Infinite, Jump was one the largest market-makers on FTX and lost at least $300 million during its collapse. The firm, along with FTX Founder Sam Bankman-Fried, supported Solana and in the most expensive private bail-out in crypto history, funded Solana‘s then-largest interblockchain asset bridge, Wormhole. Fortune reported on June 20 that the US Commodity Futures…