Author: NBTC

In an eye-catching development within the crypto market, a substantial sum of 390.87 million XRP tokens was transferred today to Bithumb, South Korea’s second-largest exchange. The transfer, disclosed by Whale Alert, involved approximately $201.1 million worth of XRP moving from the wallet address “rDxfh” to Bithumb’s address “rrsSU”. Further investigation into the transaction reveals that the sender’s address is linked to Bithumb, having been activated over four years ago. Following the transfer, the sender’s address was left with a nominal balance of 19.99 XRP, while the recipient address now holds 553.17 million XRP. 🚨 🚨 🚨 🚨 🚨 🚨 🚨…

In the volatile world of cryptocurrency, the way Bitcoin interacts with the market is often misunderstood. Contrary to popular depictions, the movement of Bitcoin on exchanges is more fluid than many might expect. This fluidity can affect perceptions of supply and demand, as well as the overall pricing of Bitcoin at any given moment. A crypto enthusiast and trader known on platform X as TXMC recently shed light on a common misconception about Bitcoin’s availability on exchanges. According to TXMC, the volume of Bitcoin present on trading platforms is considerably more abundant than what is typically reported. Unlike a finite…

The launch of restaking protocol Symbiotic brought another evolving step to the restaking landscape, according to IntoTheBlock’s “On-Chain Insights” newsletter. Symbiotic reached its cap for liquid staking tokens in less than 48 hours, and its popularity is bolstered by a $5.8 million investment from Paradigm and cyber.Fund. EigenLayer has seen 48% of all Liquid Staking Tokens (LST) being restaked within its protocol, the highest proportion to date. It has also placed limits on the deposit of Lido’s stETH, which has prompted some users to transfer their LST from Lido to EigenLayer in search of higher yields. Image: IntoTheBlock Restaking was…

Ethereum price struggled to clear the $3,650 resistance. ETH started another decline and there is now a risk of more dips below the $3,420 support. Ethereum started a fresh decline below the $3,550 support zone. The price is trading below $3,540 and the 100-hourly Simple Moving Average. There is a crucial bearish trend line forming with resistance near $3,550 on the hourly chart of ETH/USD (data feed via Kraken). The pair could extend losses if it stays below the $3,550 resistance zone. Ethereum Price Struggle Continues Ethereum price failed to start a recovery wave above the $3,550 and $3,580 resistance…

Shiba Inu just recorded its largest burn transaction in over a month, as a single wallet recently sent exactly 650,000,000 SHIB tokens to the burn address. The Shiba Inu community has upheld the burning campaign despite relative silence, making occasional contributions to help bolster the deflationary trend. As a result, community members and ecosystem projects have continued to send millions of SHIB to the dead wallet. However, SHIB recently recorded one of the most significant burn transactions in recent times, triggering a spike in the burn rate. Notably, an unknown wallet sent 650 million Shiba Inu to the burn address…

According to trader Jake Wujastyk, the current Bitcoin price action is similar to its performance in February 2017. On his chart, the trader is comparing two Bitcoin breakouts from February 2017 and October 2020. #Bitcoin This current breakout to new all-time highs has very similar price action to the February 2017 breakout (see orange boxes). $BTCUSD pic.twitter.com/66wE4ld9jJ — Jake Wujastyk (@Jake__Wujastyk) June 2, 2024 In both instances, the major cryptocurrency experienced substantial rallies after consolidating below corresponding resistance levels. A similar scenario is unfolding right now, with the flagship cryptocurrency seemingly gearing up for another rally under the $68,000 level.…

Manta Network has launched Manta CeDeFi, a platform combining centralized finance (CeFi) and decentralized finance (DeFi). It will provide enhanced earning opportunities for on-chain users. This innovative solution offers institutional-grade compliance and extensive financial flexibility. It will allow holders of assets such as USDT, USDC, wUSDM, WBTC, BTCB, ETH, and STONE to earn more. Users can benefit from CeFi’s stable strategy arbitrage, DeFi yields on Manta Pacific, and $MANTA token incentives. In #MantaCeDeFi, users earn CeFi yield on their deposits through @CeffuGlobal. You can learn more about Manta CeDeFi here:https://t.co/r8OpZc6CbVStay tuned for more updates coming soon to 💿✋ — Manta…

Ethereum saw $62M in long liquidations on June 11th amid a sharp price drop, highlighting significant market volatility. Ethereum’s options market volume fell by 52%, impacting liquidity and trader confidence, with Open Interest down 2% to $15.73B. However, Ether retains its sharpness in 2022, alt amid market headwinds that see exchanges record over $1 billion in outflows and whales amassing 240,000 ET. Among the top acts, Ether – the second-largest altcoin – has been fluctuating sharply. The dominance of long liquidations reached $62 million by the 11th of June, the highest recording since the 23rd of May. This suggests that…

Cardano (ADA), currently the eleventh-largest cryptocurrency by market capitalization, is experiencing significant growth in its Plutus V2 smart contracts. The surge in the number of smart contracts comes at a time when the broader cryptocurrency market is stabilizing. Smart contracts play a crucial role in enabling decentralized applications (dApps) and facilitating automated transactions on the blockchain. Because of this, Cardano’s focus on enhancing its smart contract functionality positions it as a contender in the competitive environment among blockchain platforms. As of April 14, the total number of Plutus scripts on the Cardano network, including both Plutus V1 and Plutus V2,…

There is a growing demand for Ethereum (ETH) on centralized trading platforms as the approval of spot ETF is driving bullish sentiments. According to CryptoQuant’s Head of Research Julio Moreno, Ethereum demand has spiked significantly. Ethereum Buying Breaks Major Record As Moreno pointed out, Ethereum buying by permanent holders marked the second highest on record on June 13 with a total of 298,000 ETH acquired. Ethereum as a digital currency is not new to intense buying activity overall. Besides this recent spike in buying activity, Ethereum’s highest buying date ever came last September 11 when a total of 317,000 ETH…