Author: NBTC

Bitcoin slipped below $60,000 for the first time since late June, wiping out $8.4 million worth of long contracts in just the past hour, according to Coinglass. The pain is being felt by Ethereum derivatives traders, as well. Roughly $8.8 million worth of long ETH contracts have been wiped out in the past hour. Long contracts are essentially bets that the price of an underlying asset, like Bitcoin or Ethereum, will increase. Conversely, traders use short contracts to bet the price of an underlying asset will fall. If the gap between a contract’s target price and the spot price gets…

Increased transactional activity on Solana-based applications and a surge in the total value locked (TVL) on the network have contributed to Solana’s recent outperformance. Expectations of a possible exchange-traded fund (ETF) product and easing regulatory policies under a potentially crypto-friendly Trump administration have further boosted Solana’s appeal among investors. Increased transactional activity and booming expectations of a possible exchange-traded fund (ETF) product may have contributed to Solana’s recent outperformance, several market observers told CoinDesk. Solana’s SOL tokens have gained over 18% in the past week, outpacing larger cryptocurrencies bitcoin (BTC) and ether (ETH), to trade over $180 early Monday, setting…

Kamala Harris’ improbable ascent to presumptive Democratic presidential nominee has already flipped the script on how November’s election will impact crypto policy. For months, it appeared that former president Donald Trump had become the pro-crypto candidate, while President Joe Biden obstinately refused to embrace bipartisan pushes for industry-related legislation. But now, all bets are off. Within 48 hours of launching her campaign, Harris’ camp reached out to billionaire and prominent Bitcoin advocate Mark Cuban with multiple questions about crypto policy, as he told Decrypt. And industry lobbying groups, cautiously optimistic that change could come, have implored Harris to explicitly release…

While the cryptocurrency market has recorded significant growth all over the world, the crypto market in Turkey has also experienced significant growth in recent years. According to a study by Kaiko, more than half of the country’s population invests in crypto. The research results revealed that the increase in cryptocurrency investments was largely driven by macroeconomic factors such as high inflation, currency devaluation, and a young and largely unbanked population. The research also stated that Turkish Lira (TRY) is the fourth most used fiat currency in the crypto market, while stablecoins and memecoins emerged as the favorites of Turkish investors,…

The secured overnight financing rate surged Monday, indicating liquidity stress in the U.S. banking system. That’s a concern for markets in the short term, according to FRNT Financial’s David Brickell. Signs of liquidity stress are emerging in the U.S. banking market, which may not bode well for risky assets such as bitcoin (BTC). On Monday, the secured overnight financing rate (SOFR), which shows how much it costs for banks to borrow cash collateralized by U.S. Treasury securities overnight, rose to 5.4%, matching the six-year high reached on Jan. 2, according to Federal Reserve Bank of New York. The increase is…

Ethereum meme coin Mog Coin (MOG) has climbed 4% today, reaching a new all-time high of $0.00000245. The token was even briefly in the top 100 coins on CoinGecko, but has since dropped out. MOG was created almost exactly a year ago, on July 19, 2023, and shares its name with a term that’s been popular on English-language message board site 4chan. To ‘mog’ someone is to display your dominance over another person. This can come in many forms such as heightmogging (to be taller than someone), fashionmogging (being more stylish than the moggee), or a brutal mogging (dominating someone…

Last month, the US Treasury Department finalized new tax rules for the crypto industry. We should embrace them. Crypto users, attracted to the digital asset space because of its libertarian values and independence from the traditional financial system, may chafe at this larger IRS crackdown as burdensome or troubling. However, the time for scams and cons is over. The market has operated in a fog of ambiguity for too long. The SEC’s regulation by enforcement kills innovation on the business side and leaves investors uncertain about tax obligations and financial planning. Almost a century ago, US Supreme Court Justice Oliver…

Alchemy Pay has launched an innovative Web3 Digital Bank. It aims at enabling Web3 enterprises to open multi-fiat accounts with crypto support. This new venture is part of Alchemy Pay’s commitment to facilitating seamless transactions between fiat and crypto. As a key player in the fiat-crypto payment industry, Alchemy Pay continues to innovate with solutions such as the On & Off-Ramp, crypto card, and now, the Web3 Digital Bank. 🏦#AlchemyPay’s #Web3 Digital Bank allows enterprises to open virtual multi-fiat accounts online. Now, let’s unpack what this service means: multi-fiat accounts, solutions for enterprise, and virtual online banking. https://t.co/rQjUNZZ2BG$ACH pic.twitter.com/1yljcZvEy0 —…

It is generally a good idea to follow Warren Buffet’s investment advice. There are a few examples of this that are as stark as the potential upside for any investor who chose to buy Apple (NASDAQ: AAPL) stock in 2016 – the same year as the Oracle of Omaha. Still, every rule has an exception, and not even the legendary Warren Buffett is always right. Indeed, the famous investor opined in March 2014 that traders should avoid Bitcoin (BTC). At the time, the Oracle of Omaha stated that though the technology behind BTC is promising, it is unlikely to gain…

US crypto heavyweight Ripple may be forced to launch its own euro-pegged stablecoin alongside some of its competitors in the cross-border money transfer space. These suggestions were shared by XRP and Ripple community activist Crypto Eri (@sentosumosaba on X) with her 240,000 subscribers. New stablecoin design ideas must take into account some of the limitations provided by the MiCA regulations package. It not only limits the number of non-euro stablecoins to 1 million per day, but also introduces a capitalization of 200 million euros. Ripple’s potential USD-pegged stablecoin will soon reach these limits and will likely not be enough to…