Author: NBTC

Someone accidentally sent 90% of his Bitcoin holdings to Satoshi Nakamoto last night. While trying to sacrifice an ordinal for Pups ($PUPS), a dumb memecoin on the Bitcoin blockchain. He accidentally sent pretty close to his entire wallet balance, about $7000. This case proves how risky it is to deal with digital assets, and extra precautions should be taken before making any transactions. As an example, sacrificing ordinals is a normative part of several activities with cryptocurrencies – when people send particular tokens or amounts to a certain address. This incident has been reported by Arkham Intelligence. Someone accidentally sent…

Despite Ethereum’s recent lackluster performance, Glassnode Co-founders, under the name ‘Negentrophic’ on Elon Musk’s X social platform, assert that ETH’s potential has yet to be fully realized. Analyzing historical data and market patterns similar to those in early 2021, Negentrophic predicts that Ethereum could reach a high of $7,500, a forecast based on current market structures and technical indicators such as the 161.8 Fibonacci extension level. Diving Into The $7,500 Prediction Assessing the prediction from these experts, a Fibonacci extension level seen in 2021, which signaled a major rise for Ethereum, seems to have now emerged on the ETH chart,…

The Cardano founder claims there is a stark “gap between reality and opinion” regarding the project’s fundamentals. Additionally, he expressed disappointment with headlines such as “Will Cardano Die?” questioning the viability of the ecosystem. Charles HOSKINSON highlighted several important developments and upcoming events that demonstrate Cardano’s strong progress. He noted that the ecosystem is on the verge of “the most significant hard fork in the history of the project.” This marks a major upgrade in the network. He also noted the rapid growth of community-developed decentralized applications (DApps) and highlighted Cardano’s leading role in scaling research and development. Key technology…

Ripple’s California victory muddies the waters on whether or not XRP can be considered a security. District court judges are not required to agree with rulings made by their peers in other cases. Lawyers say the lack of legal certainty for XRP and other digital assets will likely continue until there is a ruling from a higher court or regulatory certainty granted by Congress. Ripple recently scored an unequivocal victory from a dollars-and-cents standpoint in a class action securities lawsuit, with the judge tossing out most of the case. But the judge also muddied the waters on a bigger issue,…

Popular on-chain analyst Willy Woo believes Bitcoin (BTC) is now in a position to kick start a fresh leg up after months of consolidation. Woo tells his 1.1 million followers on the social media platform X that he’s looking at Bitcoin’s spent output profit ratio (SOPR), which tracks whether coins are being sold at a profit or loss. According to Woo, the metric currently shows that BTC holders are done taking profits close to record highs, suggesting that sell pressure is losing momentum. “Profit-taking has completed, it took two months. A very healthy reset, against a backdrop of capital flows…

The SEC has taken an unexpected step in the ongoing approval process for the ETH ETF by returning S-1 forms to its issuers. The spot Ethereum ETFs which were estimated by experts like Eric Balchunas, the senior ETF analyst at Bloomberg, to launch next week have further been delayed by the US SEC as it has issued a few comments on the S-1 form submitted by spot Ethereum ETF issuers. SEC Sends Back S-1 Forms For Minor Changes The forms were sent back with a request for minor changes and issuers were asked to address the identified issues and resubmit…

The Dogecoin blockchain is evolving at a very fast pace, and this is showcased by the latest update from top ecosystem developer Alex, known on X as MyDogeCTO. According to Alex, the meme coin’s dominant noncustodial wallet, MyDogeWallet, is set to support the Doginals and DRC-20 token standards. These innovations will build on the legacy of Bitcoin, which is now thriving based on the influx of Ordinals and Inscriptions in general. With Doginals serving as the Ordinals resident on Dogecoin, developers and members of the DOGE ecosystem are on track to join the meme coin revolution. Per the update shared…

The U.S. Department of the Treasury’s Internal Revenue Service will require crypto brokers to file 1099 forms like their traditional investment-firm cousins, but decentralized finance (DeFi) operations and non-hosted wallet providers will have to wait for their own rule later in the year. The rule released Friday will go into effect for transactions starting in 2025 and will require brokers to keep tabs on cost basis for customers’ tokens starting in 2026. The IRS won’t call for reporting on most routine stablecoin sales and is putting a $600 annual threshold on NFT proceeds before they need to be reported. The…

Renowned financial expert and creator of the Stock-to-Flow (S2F) model, PlanB, recently took to X (Twitter) to emphasize the significance of Bitcoin halvings in influencing the cryptocurrency’s price. With a substantial following of 1.9M on the platform, PlanB’s insights are widely regarded in the crypto community. Understanding the Impact of Bitcoin Halvings and PlanB’s Stock-to-Flow Model In his tweet, PlanB emphasized the importance of Bitcoin halvings, noting that while the Stock-to-Flow (S2F) model illustrates how four-year halvings impact Bitcoin’s price, it does not explain why. He mentioned that if the price increases again after the 2024 halving, he would then…

The cryptocurrency market, known for its cyclical nature, often sees Ethereum (ETH) and Bitcoin (BTC) taking the lead. Amid the current bearish sentiment, recent analysis suggests that Ethereum’s past price performance could offer crucial insights into when Bitcoin might reach its next major peak. In an X post on June 28, crypto analyst CryptoCon shared data from analysis platform Glassnode, detailing Ethereum’s price trends following cycle lows in August 2015, December 2018, and June 2022. This data highlights three distinct cycles, revealing significant growth and retracement patterns for ETH over time. The first cycle, which started in August 2015, shows…