Author: NBTC

Bitcoin (BTC) long-term holders have resumed accumulating, signaling a shift in market dynamics, according to the latest “Bitfinex Alpha” report. Bitfinex’s analysts indicate that the selling pressure from these investors has subsided, with a noticeable uptick in buying activity. Image: Bitfinex/CryptoQuant This change comes after Bitcoin reached a new all-time high of $73,666 in March, followed by a significant sell-off from long-term holders (LTHs). The sell-off led to an increase in supply on the open market, causing a period of price correction and consolidation. However, the trend appears to have reversed, with LTHs beginning to re-accumulate Bitcoin for the first…

An employee of South Korea’s Woori Bank has confessed to the police of embezzling $7.3 million from the bank to fund personal crypto investments, most of which failed. According to reports from local news outlets, the employee who has not been named visited the West Gimhae Police Station in South Gyeongsang Province on June 10 to reveal the extent of their crimes. Investigators have revealed that the employee in their thirties had invested the stolen funds in crypto ventures, trying to make personal gains for himself. Unfortunately, however, most of those investments failed, resulting in him losing $4.35 million from…

Shiba Inu’s layer-2 blockchain, Shibarium, has soared to impressive heights, nearing the one million transaction mark in a monumental surge. Shibariumscan data reveals a staggering 228.5% increase in transaction volume within a 24-hour period, culminating in a colossal 958,440 transactions. This remarkable milestone eclipses previous records set by Shibarium, with the last comparable feat recorded on March 16, boasting 1.04 million transactions. The surge in transaction activity on Shibarium has also triggered a substantial uptick in transaction fees denominated in BONE, a vital token within the Shiba Inu ecosystem. From a modest collection of 10 BONE on April 10, fees…

Ledgible, a crypto tax and accounting platform, announced the launch of its tax reporting solution for tokenized real-world assets (RWA). This development comes as federal regulations tighten around digital assets. These include mandates like IRS Form 1099-DA, which require detailed reporting on digital asset activities. Ledgible Unveils Tax Reporting for RWA Ledgible’s platform aims to help enterprises and institutions navigate complex regulatory requirements. In a statement, Kell Canty, the firm’s CEO, emphasized the platform’s readiness to ensure compliance. “As federal regulations around digital assets, like IRS Form 1099-DA, mandate companies begin reporting out on their digital asset activities including tokenized…

Bitcoin (BTC) briefly topped $70,000 Monday for the first time in a week before retreating to its familiar trading range, continuing its sideways price action. The largest crypto by market capitalization recently changed hands at around $69,200, up 2% over the past 24 hours, while Ethereum’s ether (ETH) was little changed slightly below $3,800. The broad-market CoinDesk 20 Index gained 1.6% over the past 24 hours. Bitcoin and the broader crypto market have spent more than two months consolidating since March, when BTC hit a record price above $73,000. “This correction phase now appears to be nearing an end,” Bitfinex…

OKX Ventures, the investment arm of the prominent crypto exchange and Web3 technology company OKX, has announced its lead investment in Codatta. Codatta is a pioneering decentralized data protocol. It is designed to create essential data infrastructure for developers and various protocols in the Web3 space. We’re thrilled to announce our leading Investment in @codatta_io,the first decentralized data protocol aiming to build foundational data infrastructure for developers and protocols.https://t.co/dLxRj5sWHU pic.twitter.com/4gFyr9dDJL — OKX Ventures (@OKX_Ventures) June 12, 2024 Codatta Enhances Data Quality for Web3, Attracts Major Investment Codatta provides its users the ability to make money off their data and contributions…

What a difference a single year makes. This time last year, the vibes were off. Crypto was in a funk — bear market aside — and it was one that stemmed from the larger regulatory picture. There’s no doubt that the market is more positive right now than it was a year ago, especially now that the bear market’s given way to a bullish environment. While projects fled overseas last year, we’re beginning to see some projects move over to the US. A prime example being Circle, which plans to pursue an initial public offering on a US exchange. Of…

Bitcoin fans had a laugh at Berkshire Hathaway CEO Warren Buffett on Monday after the billionaire investor’s company seemingly crashed 99% in value. At 9:49 am ET, Berkshire’s class A shares (BRK.A) instantly tanked from $621,000 to just $185 apiece, prompting the New York Stock Exchange (NYSE) to halt trading for the asset temporarily. In reality, the massive drop was triggered by an unexplained technical issue at the NYSE, which impacted a slew of other large companies, including the Bank of Montreal (BMO). The issue was resolved within a few hours, trading resumed, and BRK.A actually closed the day 0.59%…

Key Points: Ethereum ETF issuers await SEC comments on their S-1 filings submitted on May 31, now expected this week. The S-1 forms, requiring detailed business and security information, are the second step after the 19b-4 form approvals on May 23. According to The Block, Ethereum ETF issuers continue to eagerly anticipate feedback on their S-1 filings from the U.S. securities regulator. Ethereum ETF Issuers Are Still Waiting for SEC Comments on Their S-1 Filings This Week 2 Ethereum ETF Issuers Are Waiting for Feedback on Filings Those initial drafts were sent to the SEC on May 31, yet the…

The FED left interest rates unchanged at 5.25-5.50 percent in May. Following the May decision, markets are now waiting for the June interest rate decision. When Will the June FED Interest Rate Decision Be Announced? While the fourth FED interest rate decision of 2024 is expected to have an impact on gold, dollar, oil, Bitcoin (BTC) and crypto currencies, the FED will announce its June decision on June 12, that is, today at 21:00 CET. FED President Jerome Powell will make a statement after the decision. In Which Direction Are Expectations Concentrating? Macroeconomic data, which signals that the fight against…