Author: NBTC

PlanB, a prominent crypto analyst and creator of the Bitcoin Stock-to-Flow model (S2F), suggests that Bitcoin (BTC) price action is gaining momentum and hints at a potential price surge in the near future. In a recent post on X, the analyst presented a graph depicting Bitcoin’s MVRV (Market Value to Realized Value) score. The graph, which compares Bitcoin’s relative strength index (RSI) over the years with the MVRV score, reveals a correlation between higher MVRV scores, market tops, and increased buying pressure. PlanB’s analysis suggests that, similar to previous bullish cycles, Bitcoin’s RSI is rising and the MVRV scores are…

Ethereum price struggled to climb above the $3,650 resistance and trimmed gains. ETH is now signaling a downside break and might decline below $3,450. Ethereum is trimming gains from the $3,620 resistance zone. The price is trading below $3,550 and the 100-hourly Simple Moving Average. There was a break below a short-term rising channel forming with support at $3,540 on the hourly chart of ETH/USD (data feed via Kraken). The pair could gain bearish momentum if it dips below the $3,485 and $3,450 support levels. Ethereum Price Trims Gains Ethereum price started a decent increase above the $3,500 zone. ETH…

OKX Ventures, an investment forum operating under the prominent crypto exchange OKX, has started an investment round. As per the company, it has begun a Series A round of investment for a unification layer Avail that focuses on resolving rollup fragmentation. The platform revealed this development on its official X account. We’re thrilled to announce the series A round investment in Avail, a unification layer designed to solve rollup fragmentation at scale. @AvailProject https://t.co/Oro3RFcSqI pic.twitter.com/ZBeaN23WMw — OKX Ventures (@OKX_Ventures) June 20, 2024 OKX Ventures Initiates Series A Investment for the Unification Layer Avail Additionally, the firm also published a blog…

Developed by Succinct Labs, Blobstream enables Celestia’s data roots to be streamed to an Ethereum light client on-chain. The solution offers high-throughput data availability (DA) for Ethereum layer 2 solutions (L2s), secured by cryptoeconomic guarantees. Apart from the launch, the Celestia team announced that Blobstream on the Ethereum mainnet is now accessible on Celestia’s blockchain explorer Celenium. According to Celestia’s blog announcement, Succinct Labs has introduced Blobstream X, a zero-knowledge (ZK) implementation that streamlines the verification of Celestia validator signatures on-chain with a single ZK proof. This reduces validator overhead, simplifies the Celestia protocol, and accelerates the streaming of data…

Former SEC official Kristina Littman speculates that the SEC might not appeal the Ripple ruling to potentially avoid setting an unfavorable law at the Second Circuit. The SEC’s legal tussle with Ripple is edging close to a potential resolution as the crypto community awaits the court’s final verdict. Consequently, many industry experts, including Ripple CEO Brad Garlinghouse, projected that the court could issue the final decision before the end of Summer 2024. Nonetheless, the major question remains whether the SEC would appeal the initial ruling, which gave Ripple a partial victory in July 2023, after the upcoming final verdict. SEC…

Arkham Intelligence, a prominent crypto analytics forum, has announced a new collaboration. As per the company, it is partnering with Mantle Network (an L2 tech stack to scale Ethereum) to provide support for its Ethereum L2. The platform disclosed this development on its official account on the social media platform X. Announcing Arkham x Mantle!We’re teaming up with @0xMantle to add support for their Ethereum L2 on our platform.Excited to be working with @gametheorizing, @Defi_Maestro, @0xGabe_, and the rest of the Mantle Team to bring our data and tooling to their ecosystem.Stay tuned… pic.twitter.com/26xOEv0CR9 — Arkham (@ArkhamIntel) June 19, 2024…

Samson Mow, a Bitcoin permabull and CEO at a Bitcoin adoption-focused company Jan3, has published an ultra bullish BTC tweet, predicting a BTC Omega candle taking place soon. Mow is a believer, among many other Bitcoiners, that the world’s flagship cryptocurrency will eventually skyrocket to the $1 million level and in his view this remarkable growth will happen thanks to “Omega candles”. In one of his tweets this year, Mow identified them as tremendous green candles on Bitcoin charts that may be accompanied with large volatility curves. The Jan3 boss tweeted “it’s time”, accompanying his tweet with an animated GIF.…

Main Takeaways Binance and Brazilian Football Confederation (CBF) launch the first Binance Free Pass for the main football league in Brazil. Binance users residing in Brazil who hold the Brasileirão Betano 2024 NFT (non-fungible token) will have a chance to get a Binance Free Pass that grants them access to any match of the season for free, which they can attend with a companion. The initiative will draw 4 Free Passes which will allow their holders to choose, up to 7 days in advance, one match per round with the home supporters anywhere in the country, without restrictions of clubs…

Grayscale, the world’s biggest digital asset manager, is currently grappling with the limitations of its Ethereum Trust (ETHE) in the era of Ethereum staking. Grayscale recently updated its ETHE disclosures, adding: “The current inability of the Trust to use its Ether in Staking and receive such rewards could place the Shares at a comparative disadvantage relative to an investment in Ether directly or through a vehicle that is not subject to such a prohibition, which could negatively affect the value of the Shares.” This addition comes on the heels of Ethereum’s successful Shanghai upgrade in April, which enabled stakers to…

USDT 24-hour transaction volume on the Tron Network hit $53 billion, surpassing Visa’s average daily volume of $42 billion. Visa’s first quarter 2024 trading volume was $3.78 trillion, highlighting the competition between traditional finance and digital currencies. USDT’s surge is driven by investors seeking stability amid Bitcoin’s price decline, emphasizing the resilience of stablecoins in volatile markets. Tether’s USDT has surpassed Visa in daily transaction volume, signaling a significant change in the financial landscape. The recent drop in Bitcoin prices is primarily responsible for the spike in USDT transactions on the Tron network. The 24-hour trading volume of $USDT on…