Author: NBTC

Forbes editors Mark Hooson and Laura Howard for the U.K. have commented on Cardano (ADA) price outlook for 2024. In their evaluation, the Forbes advisors highlighted Cardano’s initial promise to address Ethereum’s shortcomings. However, with the emergence of Ethereum layer two blockchain solutions, the experts argued Cardano’s once-distinctive features no longer hold the same influence in driving adoption. The publication highlighted Cardano’s current underperformance, noting the asset is down 85% from its 2021 peak of $3.10. To gauge its potential for this year, the analysis examined prevailing market forces concerning ADA, such as demand, supply, market sentiment, and competition. Supply…

Telsa CEO Elon Musk has dropped his lawsuit against OpenAI and its CEO Sam Altman. Musk’s decision to drop the lawsuit comes a day before a federal judge was set to decide whether the case should be dismissed or allowed to move forward, according to a report by CNBC. In court documents filed in San Francisco Superior Court on Tuesday, attorneys for Musk requested the lawsuit be dismissed without prejudice, which leaves open the possibility of refiling at a later date. The move was not accompanied by any public statements by Musk. The news comes a day after Musk publicly…

On-chain data shows Bitcoin could have significant support between $66,900 and $68,900, which may help provide solid ground for a fresh surge to higher levels. A Large Amount Of Investors Bought Their Bitcoin Between $66,900 & $68,900 According to data from the market intelligence platform IntoTheBlock, BTC is currently floating above a major demand zone. In on-chain analysis, the strength of any support or resistance level is based on how much “demand” was present at it. Below is a chart that shows the various Bitcoin price ranges near the current spot value and how they compare in terms of the…

Ethereum price failed to clear the $3,720 resistance. ETH declined again and is now at risk of more losses below the $3,550 support zone. Ethereum started a fresh decline from the $3,720 resistance zone. The price is trading below $3,650 and the 100-hourly Simple Moving Average. There is a key bearish trend line forming with resistance near $3,680 on the hourly chart of ETH/USD (data feed via Kraken). The pair could extend losses if there is a close below the $3,550 support. Ethereum Price Dips Again Ethereum price attempted a decent increase above the $3,650 resistance zone. ETH even spiked…

Cryptocurrency investors are waiting for Bitcoin to overcome the resistances it encountered on its way to the new ATH and renew its ATH, while waiting for clues from the US Consumer Price Index (CPI) data for ATH. The USA will publish CPI inflation data for May before the June interest rate decision that the FED will announce this evening. The data is critical after last week’s higher-than-expected US employment data dampened expectations for the FED to cut interest rates. At this point, Wall Street giants shared their expectations regarding US inflation data. According to the Wall Street Journal, Wall Street…

Decentralized blockchain network Internet Computer Protocol (ICP) has successfully implemented threshold-Schnorr signatures to harness the potential of Bitcoin-based decentralized finance (DeFi) and web3. According to a release seen by CryptoPotato, the new cryptographic signature scheme will enable ICP smart contracts to etch the Bitcoin token standard, Runes, and trade BRC-20 tokens. Implementing Threshold-Schnorr Signatures Threshold-Schnorr is a digital signature scheme that enables the secure signing of transactions and messages on-chain by facilitating the common ownership of a private key by a group of network participants. ICP said combining threshold-Schnorr-BIP340 with its integration with the Bitcoin network gives rise to new…

Chainalysis reported on Twitter that the Dubai Financial Services Authority (DFSA) has significantly revised its crypto token regulations following a consultation launched in January 2024. This update marks a major advancement in the regulatory framework for cryptocurrencies within the Dubai International Financial Center (DIFC). 1/7 🇦🇪On 3 June 2024, the Dubai Financial Services Authority (DFSA) amended its Crypto Token Regime following its consultation published in January 2024. What should industry players note? 📝 — Chainalysis (@chainalysis) June 11, 2024 The DFSA has introduced several key amendments aimed at fostering innovation and enhancing regulatory clarity. One major change authorizes the offering…

Bitcoin price found support at $67,000 and started a fresh increase. BTC climbed above $69,500 and might continue to rise in the near term. Bitcoin started a decent increase above the $68,500 and $69,500 resistance levels. The price is trading above $68,500 and the 100 hourly Simple moving average. There was a break above a key bearish trend line with resistance at $68,000 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could gain bullish momentum if it settles above the $69,500 level. Bitcoin Price Remains Traction Bitcoin price extended its decline below the $67,200…

Twelve new crypto wallets collectively withdrew 156,733 Ethereum (ETH), worth approximately $574 million, from Coinbase. This transaction occurred at an average price of $3,664 per ETH. However, despite this accumulation, the price of Ethereum has been struggling. Will Ethereum Price Drop 7%? According to data from the on-chain analysis platform Spot On Chain, 11 of these 12 crypto wallets withdrew about 13,059 ETH. Notably, one crypto wallet – 0xdfa, withdrew a slightly higher amount, 13,084 ETH. Concurrently, Ethereum’s availability on crypto exchanges has decreased significantly, reaching a seven-year low, as reported by the on-chain data from Glassnode. Lark Davis, an…

AI and crypto combined could add a total of $20 trillion to the global economy by 2030, the report said. Bitwise notes that bitcoin miners have all the resources that AI firms need. Crypto and AI have the potential to intersect in other areas other than mining such as information validation and virtual assistants. Artificial intelligence (AI) and crypto could add a combined $20 trillion to the global economy by 2030, asset manager Bitwise said in a report on Wednesday. “The intersection of AI and crypto is going to be even bigger than people imagine,” senior crypto research analyst Juan…