Author: NBTC

Ethereum clocked nine years today after overcoming several challenges and implementing key network upgrades. Glassnode’s Ethereum Q2 insights indicate that ETH may have a productive Q3 ahead. Ethereum is forming a rounding bottom on the daily chart, indicating a potential bullish reversal. Ethereum is down 1.5% on Tuesday despite several market participants acknowledging its ninth anniversary. Meanwhile, Glassnode shared key ETH Q2 insights that may prove beneficial as the market takes shape in Q3. Daily digest market movers: ETH birthday, Q2 insights Ethereum clocked nine years today after the Mainnet launch on July 30, 2015, when its first block was…

Mid-July was a hot time for popular cryptocurrency XRP. Over the course of two weeks, the price of the token rose by more than 53% at the peak of its growth, reaching a high not seen since early April. Many have attributed XRP’s price action to several factors. First, a year ago on July 13, XRP was ruled by a court to be a nonsecurity, and it seems that this partly fueled traders’ feelings about the imminent regulatory clarity that would be achieved by the start of the SEC’s case against Ripple. This speculation has been fueled by a closed…

The Bahamas parliament has passed The Digital Assets and Registered Exchanges Act, 2024 or DARE 2024. The law is an effort by the island-nation to tighten its crypto laws after the Nov. 2022 collapse of The Bahamas headquartered FTX. The parliament of the Bahamas, where bankrupt cryptocurrency exchange FTX was headquartered, has passed a new crypto law, The Securities Commission of The Bahamas announced on Tuesday. The Digital Assets and Registered Exchanges Act, 2024, or DARE 2024, was promised after the collapse of FTX in November 2022, more than a year after the island nation’s Prime Minister Philip Davis cut…

As it is known, at the beginning of July in Turkey, the “Law on Amendments to the Capital Markets Law” No. 518, publicly known as the cryptocurrency law, came into force by being published in the Official Gazette on 02.07.2024. Within the scope of this law, cryptocurrency service providers operating or will operate in Turkey are placed under the regulatory and supervision authority of the Capital Markets Board (CMB). Again, within the scope of this law, a one-month preliminary application and transition period was granted to cryptocurrency exchanges that wanted to operate in Turkey. In this context; As of 02.07.2024,…

In a recent social media post, cryptocurrency mogul Mike Novogratz stated that 2024 is a “pivotal” year for Bitcoin mining. He has stated that the industry managed to display “incredible resilience” through economic lows. Novogratz shared a recent Galaxy Digital report, which highlights the key cryptocurrency mining trends of this year. The integration of cryptocurrency mining with artificial intelligence (AI) and high-performance computing (HPC) has emerged as one of the key developments of the year. “The integration of AI/HPC with mining is reshaping the landscape, creating new opportunities, and emphasizing the need for power access,” Novogratz said in a social…

U.S. spot Bitcoin (BTC) ETFs have seen a positive shift, registering four consecutive days of net inflows amounting to $137.2 million. The turnaround started on June 25, following a tough week of consistent net outflows across nearly all funds. Bitcoin spot ETF flows June 25-28 | Source: Farside Investors On that day, per data from Farside Investors, spot Bitcoin ETFs in the U.S. recorded $31 million in net inflows, with Fidelity’s FBTC leading the charge with $48.8 million in inflows, followed by the Bitwise Bitcoin ETF (BITB) with $15.2 million. The VanEck Bitcoin Trust (HODL) also reported $3.5 million in…

The nine U.S. spot Ethereum exchange-traded funds collectively saw net inflows of $33.7 million yesterday, following four straight days of negative flows. Despite continued outflows from Grayscale’s ETF, overall Ethereum (ETH) ETF flows had a positive day yesterday, July 30. According to data from Farside Investors, Grayscale’s ETHE was the sole spot ether ETF to experience net outflows yesterday, July 30, amounting to $120.3 million. The ETF, which has experienced outflows every day since its launch on July 23, has seen a total of $1.8 billion in outflows since its debut. Yesterday’s outflows from ETHE were counterbalanced by significant inflows…

Large investors, often referred to as crypto whales, have drawn their attention toward the popular Dogecoin (DOGE) meme coin. Within the past 24 hours, whales have scooped up 60 million DOGE, valued at approximately $7.3 million, at the current market price. Dogecoin whales push for liberation In an earlier post on social media X, Ali Martinez, a well-known crypto analyst, highlighted a chart showing increased activity from Dogecoin whales. #Dogecoin whales have bought up over 60 million $DOGE in the last 24 hours! pic.twitter.com/53Z9gi0eFt — Ali (@ali_charts) July 18, 2024 Many community members view this interaction as whales fighting for…

Countless people lost money in Do Kwon’s high-interest crypto scheme, and the time has finally come to start a formal loss claim. At its peak, the market capitalization for Luna peaked at around $40 billion, and the Anchor protocol had a peak Total Value Locked of approximately $17 billion. Many people simply saw Kwon’s advertised 19-20% interest rate, bought Kwon’s Terra stablecoin, and deposited it into his Anchor protocol in order to earn yield. Others speculated on Luna or Anchor governance tokens. It sounded too good to be true, and it was. All of Kwon’s tokens – Terra, Luna, and…

Decentralized exchanges (DEX) gained traction in July by nearing $186 billion in monthly trading volume, 18% up from June. This is the first time since March that DEX monthly volumes have risen. Notably, the ratio of trading volume on DEX compared to centralized exchanges reached an all-time high at 14.26%, according to data from The Block. The steady growth in this ratio highlights the demand for more decentralized and transparent platforms for crypto trading. DEX to CEX ratio. Image: The Block Solana-based DEX registered the largest trading volume last month, nearing $55 billion and growing 41% since June. This is…