Author: NBTC

The price of Ethereum (ETH) is regaining upward momentum, breaking through the 21-day SMA and reaching a high of $3,378. Price analysis by Coinidol.com. Long-term analysis of the Ethereum price: bearish The bulls have dominated the bears as they broke through the resistance at the 21-day SMA. The largest altcoin will continue to rise to the 50-day SMA high or $3,500. If the bulls break the resistance at the 50-day SMA, the altcoin will resume its uptrend. Ether will continue to rise and reach a high of $3,800. However, if the bullish momentum stalls at the 50-day SMA, Ether will…

One of the largest crypto exchanges in the world, OKX, has presented its monthly proof-of-reserves report, which shows the state of user funds, exchange reserves and coverage ratio. According to the latest data, OKX has over $22.5 billion in funds and crypto assets on its platform. Of particular interest, however, was the fact that user assets in the popular XRP cryptocurrency fell by 40.6 million tokens to the level of 280.93 million XRP. This volume of funds is in turn backed by 288.69 million XRP, which provides a coverage ratio of 102%. 📢 Hot Off The Press 📢We’re proud to…

Gala Music is thrilled to announce the monumental return of legendary hip-hop artist Rakim, who will be releasing exclusive new tracks on their innovative Web3 music platform.— Partnering with Gala Music, Rakim is set to debut singles from his highly anticipated upcoming album, G.O.D.’s NETWORK (REB7RTH). This exclusive drop offers fans a unique opportunity to mint and listen to new tracks.Earlier this month, the first two exclusive tracks were released and are now available for minting and listening, with more tracks still to come. The release schedule is as follows:July 5th: “Pendulum Swing” July 12th: “God’s Playground” July 26th: “Love…

Bitcoin’s (BTC) price is down 24% since topping out at $71,758 in early June. As sentiment remains soar, the next directional bias for the pioneer cryptocurrency hinges on four critical narratives that continue to unfold. Retail traders adjust their trading strategies based on market sentiment, which explains the highly volatile nature of crypto. Critical Factors Impacting Bitcoin Price Now The $54,450 level has presented as a possible support for Bitcoin price. Two failed breakdowns after the Relative Strength Index (RSI) tested the critical threshold of 30 suggest that BTC may have bottomed out. Bitcoin Price Performance. Source: TradingView Nevertheless, whether…

Sitting at the Agora—not the ancient Greek public space, but at a side event for Pyth Network during ETHcc annual conference in Brussels—I’m trying to grasp how they aim to shift control over MEV from validators and block producers to the protocol itself.—Inspired by Greek mythology, Pyth.Network serves as the oracle for DeFi applications. The company is named after Pythia, also known as the Oracle of Delphi, who was a high priestess in ancient Greece. Renowned for her prophecies, Pythia would enter a trance-like state, often induced by natural gases rising from a chasm beneath the temple. Pyth, the 2.0…

The upcoming launch of US-based exchange-traded funds (ETFs) tied to the spot price of Ethereum (ETH) has led to an increase in hedging activities among investors. Ethereum Hedging Increases as Ethereum ETF Launch Nears This trend is evident from ETH’s persistent volatility premium over Bitcoin (BTC) as investors rush to the options market to protect or hedge their positions from potential price fluctuations. Estimated volatility, which reflects market expectations for price fluctuations over a given period based on options data, has increased over various time periods. According to data from Deribit and Kaiko, demand for options or derivatives that protect…

Ethereum layer-2 blockchain Celo has announced today the integration of Chainlink’s Cross-Chain Interoperability Protocol (CCIP) for multichain functionality. According to the announcement, this movement brings a high level of security and reliability to Celo’s ecosystem. The Celo community’s endorsement has been pivotal, previously leading to Celo’s participation in the Chainlink SCALE program. This collaboration provided Celo with advanced technical support and improved access to Chainlink’s offerings. “We’re excited for Celo to natively integrate Chainlink CCIP as its canonical cross-chain infrastructure,” said Thodoris Karakostas, Head of Blockchain Partnerships at Chainlink Labs. “Secure interoperability powered by CCIP will empower Celo developers and…

Fresh Supply Co (FSCO) has transitioned from the now-defunct Mastercard Provenance private blockchain to the Hedera network for real-world asset tokenization across the agri-food supply chain. This move aims to address the traditional opacity of the agrifood value chain by tokenizing events such as the transformation of raw materials to finished products, thereby providing complete transparency and verifiable data for financiers. As more and more real-world projects take a step towards tokenization, the HBAR foundation announced that the Fresch Supply Co (FSC), previously the largest user of the now-defunct Mastercard Provenance private blockchain, has now completely transitioned to the Hedera…

The Bitcoin (BTC) market is currently experiencing significant pressure due to large sell-offs from the Mt. Gox exchange and German authorities. Germany is rapidly liquidating its Bitcoin holdings, intending to sell all remaining BTC within two days at the current selling pace, according to analysts. Recently, 16,038 BTC were transferred from government wallets to various crypto exchanges and market makers, with a total of 26,071 BTC sold since June 19. This leaves only 23,788 BTC in their wallet. Despite these fundamental challenges, the average cost of Bitcoin mining among the largest public miners in April, approximately $53,000, serves as a…

Fund issuers looking to offer spot ether ETFs in the US have heard from the Securities and Exchange Commission — with sources saying the dialogue points to launches next week. The securities regulator has asked the companies to submit their final registration statements, or S-1s, for the proposed ETH funds by end of day on Wednesday, two people close to the filing told Blockworks. These documents would address any final suggested revisions and include details left off some previous S-1s, including fees. Read more: Does the ETH ETF ‘fee war’ even matter to investors? Per the SEC’s request, issuers expect…