Author: NBTC

According to CoinGlass data, Bitcoin open interest has hit a new all-time high peak of $37.66 billion. Open interest refers to the total dollar amount of outstanding Bitcoin futures or options contracts. Options traders are eyeing a new record peak According to a recent report by Bloomberg, options with a strike price of $75,000 have managed to accumulate the most open interest due to traders anticipating a major rally. Options with a strike price of a whopping $100,000 also rank high by open interest. This indicates strong bullish sentiment among Bitcoin traders. The world’s largest cryptocurrency is currently trading at…

Whale Insider, a crypto-focused X account with 211K followers, has outlined 14 cryptocurrencies in the meme coin market that could transform a mere $1,000 investment into a $100,000 fortune. The X account sorted the meme coins based on their current market share. It suggested investors could potentially earn a 100-fold ROI from the tokens. Remarkably, Whale Insider’s recommendation was largely dominated by meme coins developed on the Solana blockchain. Leading the pack was Dogwifhat (WIF), which has gained prominence for its extraordinary performance in the early stage of this bull market. Image Source httpstwittercomWhaleInsider Established Solana Meme Coin Set for…

A viral video of CNBC’s “Mad Money” host Jim Cramer telling SEC Chair Gary Gensler that he lost the Ripple case stirs mixed reactions within the XRP community. In the video making rounds within the crypto community, Cramer told Gensler to his face that he lost the XRP case. “The SEC Vs. Ripple Labs… You lost that one,” Cramer told Gensler during a CNBC interview on June 5. 🚨 JUST IN: 🇺🇸 Jim Cramer Tells Gary Gensler He Lost The SEC vs. Ripple $XRP Case On CNBC !! 💥🇺🇸 “SEC Vs. Ripple Labs… You Lost That One!” Comment Below &…

Sahm Adrangi, founder and Chief Investment Officer of Kerrisdale Capital, elaborated on the firm’s perspective during an interview. According to Adrangi, the Bitcoin (BTC) mining industry is expected to become obsolete within five years. Adrangi described Bitcoin mining as one of the “stupidest business models” Kerrisdale has encountered in his 15-year short selling history. Adrangi criticized the industry for negligible barriers to entry that allow companies worldwide to buy ASIC miners from China, set up operations in regions with cheaper electricity, and undercut U.S. miners. He emphasized that US-based Bitcoin miners are not profitable and survive primarily by issuing more…

During the week of June 1-8, 2024, non-fungible token (NFT) sales experienced an increase compared to the previous week. NFT sales reached $133.19 million, a rise of 7.51%. NFT Market Gains 7.51% This Week This week’s NFT sales showed a 7.51% increase after several weeks of decline. The seven-day sales totaled $133.19 million, involving nearly 90,000 buyers and sellers. The priciest NFT sale this week came from the Cardano chain, selling for $219,102 three days ago. The second most expensive NFT was an Ethereum-based Cryptopunk #1,002, which sold for $193,372 two days ago. Seven day non-fungible token (NFT) sales stats…

As many assets in the cryptocurrency market start to resume their price increases, the sector’s largest altcoin – Ethereum (ETH) – has been one of them, and machine learning and artificial intelligence (AI) algorithms are fairly optimistic about its progress for the next several weeks. Indeed, Ethereum has been riding the current bullish wave in the crypto sphere, heightened by the exceptionally positive prediction by investment giant VanEck, which sees the second largest asset in the cryptoverse by market capitalization, reaching a whopping $22,000 by 2030. Ethereum price prediction In terms of its price prognosis for the near future, Ethereum…

As the countdown to the highly anticipated Bitcoin halving event inches closer, Tether, the prominent issuer of USDT, has made a notable move by minting an additional one billion USDT on the Ethereum network. This maneuver by Tether comes at a crucial point, with the Bitcoin halving set to occur in mere hours, now less than 100 blocks away. The minting of one billion USDT has sparked widespread interest and speculation within the crypto community, raising questions about its potential impact on the market dynamics leading up to and following the historic Bitcoin halving. Paolo Ardoino, CEO of Tether, shed…

Chinese College student Yang Qichao’s sentencing has led to a legal debate within the regulatory laws. Leading regulatory organizations of China released a notice on token issuance in 2017. A student of Chinese Zhejiang University, Yang Qichao issued a virtual currency token BFF in 2022. After the issuance, Qichao’s uninformed liquidity withdrawal caused a crypto investor, Luo, to lose 50,000 BSC-USDT coins that he exchanged for the tokens. This pushed Luo to file a complaint with the Nanyang Public Security Bureau. Presently, Qichao is facing a 4.5 year prison time and 30,000 Yuan fine being convicted for cryptocurrency fraud. The…

BlackRock’s iShares Bitcoin Trust (IBIT) has significantly impacted the crypto market by acquiring close to $780 million in Bitcoin (BTC) over just three days. This surge in investment positions IBIT as a major influence in shaping investor sentiment and market trends. BlackRock’s IBIT Attracts Massive Inflows On Monday, IBIT recorded 0 inflow. However, the fund attracted a substantial $274.43 million on Tuesday, followed by $155.43 million on Wednesday. According to data from SoSoValue, it had drawn an additional $350 million on Thursday. Consequently, this week’s total inflow for IBIT approached $780 million. Recently, BlackRock’s iShares Bitcoin Trust reached a new…

Ever since the launch of Bitcoin ETFs in January, the crypto industry has been eagerly waiting for the US Securities and Exchange Commission’s nod regarding Ethereum. Finally, in May, as all hopes were fading, the commission decided to approve the 19b-4 forms for spot Ether ETFs. According to Taha Abbasi, CTO at Ferrum Labs, the decision is pivotal and is expected to be another step towards mass adoption. “It proves to the world that L1 and related assets are indeed functioning as intended and are now recognized by governing authorities as well,” Abbasi told crypto.news. The sudden but highly anticipated…