Author: NBTC

Bitcoin’s current $56,500 price aligns with the 38.2% Fibonacci level, acting as a support zone. The 38.2% retracement level is vital for maintaining trends. Markets staying above this level tend to persist in their current direction. The 38.2% retracement level holds significant importance as it aligns with the ‘Golden Rule’ in trading. This rule states that any market intending to sustain its current trend must maintain above the 38.2% level. BTC is trading at $56,500, which perfectly aligns with the 38.2% Fibonacci level. This level acts as a support zone where increased buying interest could push the price back up.…

Dogecoin (DOGE) has seen a noticeable decline in the activity of major players, or “whales,” coinciding with the recent passing of Kabosu, the dog immortalized in the iconic Doge meme. Analysis of key metrics shows a significant decline in whale activity. Thus, according to IntoTheBlock, large transactions involving DOGE have dropped significantly over the past 24 hours, down 29.69% to 6.63 billion DOGE. Of particular note is the drop in transactions exceeding $100,000, from $1.56 billion to $1.12 billion, with 1,300 such transactions recorded during the period. The decline in whale activity is also evidenced by a marked reduction in…

The UK’s Financial Conduct Authority (FCA) has lifted all restrictions on the licence of London Capital Group Ltd (LCG), a retail forex and contracts for differences (CFDs) broker owned by the now-bankrupt FlowBank. The restrictions were imposed on 13 June following FlowBank’s bankruptcy. LCG’s UK entity operates as an introducing broker for IG Group, which was once its direct competitor. The FCA’s previous actions against LCG included restrictions on onboarding new clients or introducing any new client under its introducing broker business. Furthermore, it could not accept new client money or carry out regulated activities. Additionally, the regulator also imposed…

Bitcoin (BTC) has broken down from a four-month price range, shifting the sentiment from bullish to neutral and now bearish. In this context, Finbold looked to key support and resistance levels that cryptocurrency traders and investors should watch moving forward. As of this writing, BTC trades at $56,825, halfway between $50,000 and $60,000, two key psychological levels. Interestingly, the psychological resistance is at the broken four-month rage’s support, increasing its relevancy to regain the previous momentum. Meanwhile, the psychological support is close to the 365-day exponential moving average (365-EMA) at $50,589, an important year-over-year level. The 30-day EMA makes resistance…

This week, meme coins have dominated as they appear among the week’s top gainers. This week’s pump can be attributed to the anticipated approval of Ethereum ETFs and the excitement surrounding it, which has since sparked renowned interest in cryptocurrency. Ethereum Price Review Ethereum (ETH) is among the gainers this week amid of the ETF approvals. As of press time, Ethereum, trading at $3,768, had seen a 21.2% pump from its previous seven-day price, as its market cap stood at $454B during the same period. The Ethereum price pump is primarily attributed to the ETF approvals. As of Thursday, the…

South Korean authorities have sought a court to issue an arrest order for a cryptocurrency market maker involved in an altcoin fraud case. According to Yonhap, the market maker, surnamed Park (43) and called Jon Bur Kim, is accused of price manipulation violations. The Seoul Southern District Prosecutors’ Office’s Virtual Asset Joint Investigation Team claims Park embezzled “a large sum of money” by arranging large-scale cryptocurrency “price manipulations.” Park developed a sizable social media following, earning the nickname “Coin King.” He routinely shared images of his collection of luxury sports cars and other high-end stuff. A branch of the Seoul…

The following is a guest post from Shane Neagle, Editor In Chief from The Tokenist. Half a year after Bitcoin ETFs launched, it is safe to say that they have been the most successful ETF launch in history, having generated a $309.53 billion volume. Just within the first day of trading, spot-traded Bitcoin ETFs pulled in $4 billion, crushing the previous record holder, Gold ETF (GLD), which took 3 days to top $1 billion in inflows. This is all the more impressive as Bitcoin is a novel asset compared to ancient gold. The trend clearly points to Bitcoin being more…

The Shiba Inu ecosystem has witnessed a notable rise in activity on its Shibarium network, marked by an increase in a key blockchain metric over the last 24 hours. Shibariumscan reports that transaction volume jumped from 5,150 to 7,930, reflecting a notable 60% growth. This spike in transaction volume has concurrently led to a sharp increase in network fees. The amount of BONE tokens used to pay these fees climbed from 16.68 BONE to 32 BONE during the same period. As per Shibarium’s transaction model, BONE are used for transaction fees, and a portion of these tokens is converted into…

The Bank for International Settlements (BIS) has released new requirements for banks looking to hold XRP and other Group 2 crypto assets. The BIS, which positions itself as a bank for central banks globally, has introduced new regulations governing banks’ exposure to Group 2 cryptocurrencies. Notably, the BIS had in the past defined what Group 2 crypto assets are in an effort to separate them from other cryptocurrencies. Group 2 assets include unbacked crypto assets such as XRP, Bitcoin (BTC), and Ethereum (ETH). The category also contains stablecoins that lack effective stability mechanisms. According to the BIS’ classifications, these assets…

Zeebit, a decentralized non-custodial protocol, is set to launch the first Web3 microgaming platform within the Solana blockchain ecosystem. The platform’s new onchain risk-on game platform will go live on Sonic, the Solana Virtual Machine (SVM) Layer 2 chain and offer a range of innovative Web3 games, the Zeebit team said in a press release sent to crypto.news. “Our collaboration with Sonic is possible thanks to the enhancements made to the SVM in recent months, utilizing core functionality to unlock new types of games and experiences,” Bayzian, core contributor at Zeebit, said. Zeebit’s platform will offer classic casino games and…