Author: NBTC

Ethereum price is still struggling to clear the $3,500 resistance zone. ETH is now consolidating and might make another attempt to clear $3,550. Ethereum is consolidating below the $3,550 resistance zone. The price is trading above $3,450 and the 100-hourly Simple Moving Average. There is a key bullish trend line forming with support at $3,440 on the hourly chart of ETH/USD (data feed via Kraken). The pair could continue to rise if there is a clear move above the $3,500 resistance zone. Ethereum Price Holds Gains Above $3,450 Ethereum price remained in a bullish zone above the $3,420 resistance zone.…

A new report from Cebr and BVNK, marking the 10th anniversary of the first stablecoin, reveals that stablecoins could unlock $11.6 billion of trapped business capital currently held in sluggish payment systems. —As the stablecoin market cap reaches $160 billion, the analysis underscores the potential of stablecoins to revolutionize financial transactions, enhance economic efficiency, and mitigate currency volatility.“Stablecoins are revolutionizing global payments by providing instantaneous transactions and addressing inefficiencies in traditional systemsBen Reynolds,” noted MD of BVNK US. “They offer a powerful alternative that enhances capital efficiency and liquidity for businesses.”Key FindingsMitigating Currency Volatility: Stablecoins, primarily pegged to the US…

THORChain (RUNE) has experienced a significant resurgence, with its price climbing 16.4% over the past week, reaching $4.71. This upward trend follows a low of $3.11, highlighting a notable recovery. Why is RUNE price rising? The cryptocurrency market, buoyed by Bitcoin’s (BTC) recent surge above $68,000 and the anticipated launch of Ethereum ETFs trading on July 26, has fostered a positive environment for altcoins like RUNE. This optimism has been further reflected in THORChain’s performance, with the cryptocurrency’s market capitalization at $1.57 billion and a 24-hour trading volume of over $227 million. Analysts have set ambitious targets for RUNE, forecasting…

Astar Network has announced the integration of Chainlink’s Cross-Chain Interoperability Protocol (CCIP) into its smart contract platform on Polkadot. This integration marks a significant advancement in Astar’s commitment to enhancing the infrastructure available to Web3 developers. By adopting CCIP, Astar Network aims to enable developers across the multi-chain ecosystem to build secure and sophisticated decentralized applications (dApps) with enhanced cross-chain capabilities. .@AstarNetwork is integrating #Chainlink CCIP to unlock secure cross-chain development on its EVM-supported smart contract platform on @Polkadot.How CCIP will enable Astar Network devs to build highly reliable cross-chain dApps ⬇️https://t.co/QN7lwmoJ5C pic.twitter.com/5ZLb09RLZ8 — Chainlink (@chainlink) July 24, 2024 Chainlink…

IntoTheBlock‘s recent data publication sheds light on the activities of Bitcoin’s large holders, unveiling patterns that could indicate the cryptocurrency’s short-term economic behaviors. According to the analysis, there has been a notable net inflow of Bitcoin into wallets holding a significant portion of the supply. Over the last 30 days, these whales have accumulated over 55,000 BTC, a movement that synchronizes with Bitcoin’s price adjustments and offers a glimpse into the potential strategies of big players in the market. This accumulation notably peaked during Bitcoin’s recent price dip to around $60,000. This behavior suggests that these substantial holders see value…

Tuesday will be a big day for the crypto industry as the Securities and Exchange Commission (SEC) has finally approved spot Ethereum ETFs. These funds are expected to start trading, a move that could see substantial sums of money flowing to Ethereum. The ETFs that will go live are the Grayscale Ethereum Mini Trust (ETH), Franklin Ethereum ETF (EZET), VanEck Ethereum ETF (ETHV), Bitwise Ethereum ETF (ETHW, and 21Shares Core Ethereum ETF (CETH). The other spot Ethereum ETFs are the Fidelity (FETH), Blackrock (ETHA), and Grayscale Ethereum Trust (ETHE). ETHE will be a conversion from the current format of a…

Investors are increasingly increasing their expectations that the FED will take a big step in reducing interest rates. Federal funds futures markets on Thursday showed there is a roughly 23% chance the Fed will cut its key interest rate by at least 0.5 percentage points by September, according to data from CME Group. This rate indicates a significant increase compared to the rate of 10% the day before and 4.1% a week ago. However, CME Group’s FedWatch tool puts the probability of a rate cut in July at only 5%. But he almost certainly predicts the possibility of a Fed…

HSBC Australia has decided to stop customer payments to cryptocurrency exchanges starting yesterday. The bank announced the change through an email, explaining that: “From 24 July 2024, HSBC will block payments from bank accounts and credit cards that we reasonably believe are being made to cryptocurrency exchanges, for your protection.” The bank pointed to a report that Australians lost up to $171 million in investment scams just last year. Australia’s financial watchdogs have also been raising alarms about cryptocurrencies. They’ve identified cryptocurrencies as a potential hotbed for money laundering. According to these authorities, crypto used for payments are particularly vulnerable.…

Despite the recent sell-off that pushed Bitcoin (BTC) prices below $60,000, a new analysis from Glassnode suggests the market remains remarkably robust. According to the on-chain analytics platform, aggregate investor profitability is still strong, with the average coin holding a 2x profit multiple — a level often seen during the enthusiastic and euphoric phases of bull markets. The #Bitcoin market is in an interesting spot, with the average coin still up 2x, whilst most Short-Term Holders are underwater. A multitude of volatility measures are also heavily compressed, suggesting a larger move is on the horizon.Discover more in the latest Week……

The bankruptcy estate of the now-collapsed crypto lending platform BlockFi announced yesterday (Thursday) its plans to return “100 percent” of the distressed clients’ claims. However, it will calculate the value of the claims based on the date of the bankruptcy and not the current crypto market value. The return of the claim in its entirety became possible as the bankruptcy administrator of the bankrupt BlockFi “successfully sold… outstanding claims against FTX for an amount in excess of the face value of the claims.” “While these recoveries cannot undo the impact of the platform pause, efficiently distributing 100% of the dollarised…