Author: NBTC

Ethereum surged 24.50% to $3,790, driven by ETF approval anticipation. US lawmakers urged the SEC to approve spot Ethereum ETFs. Traders are bullish, pushing ETH near $4,000 with strong market momentum. Ethereum (ETH) experienced a significant increase of 24.50% in the past 24 hours, reaching around $3,790, the highest level it has achieved in two months. This surge is largely driven by anticipation of a spot Ethereum ETF approval in the US, and traders’ hopes for further price hikes following the approval. A bipartisan group of US lawmakers has called on SEC Chair Gary Gensler to approve the spot Ethereum…

Grayscale Bitcoin Trust withdrawals on Wednesday dropped to their lowest daily level since the fund was converted into a spot Bitcoin ETF in January, prompting optimism that the fund will stop selling sizable chunks of Bitcoin as a result. Investors in the ETF only sold about $17.5 million worth of BTC, compared to well over $150 million per day over the previous three trading days. The sudden slowdown has some Bitcoiners on Crypto Twitter (aka X) excited that Grayscale has nothing left to give, which could relieve the broader Bitcoin market of a major source of sell pressure. Exactly three…

The Ethereum (ETH) price is trading choppy in late Thursday trade as in wake of news dropping that the US SEC has approved spot Ethereum ETFs, a spectacular u-turn that has shocked the market that, up until one week ago, was betting that Ethereum ETFs would be rejected this week. BOOM!! APPROVED! There it is. The SEC just approved spot #Ethereum ETFs. What a turn of events. It’s really happening. h/t @PhoenixTrades_ pic.twitter.com/KQ39mDyCbT — James Seyffart (@JSeyff) May 23, 2024 The Ethereum price was last trading around $3,800. That’s down sharply from earlier session highs near $4,000, but also up…

Alchemy Pay has announced a significant collaboration with Linea, integrating the Linea blockchain into its ramp service platform. This integration is designed to streamline the process of transferring major virtual assets like ETH, USDT, USDC, and FOXY on the Linea network using local fiat currencies. By supporting transactions with over 50 local fiat currencies, this partnership not only extends Linea’s reach but also significantly simplifies the transaction process on its network, marking a notable advancement in blockchain accessibility. The partnership heralds a new era of convenience for users and developers within the Linea ecosystem. Through Linea’s ecosystem portal, stakeholders now…

German banking giant Deutsche Bank AG views blockchain technology as a means to mitigate margin compression. A new report suggests that Deutsche Bank is testing an Ethereum-based platform whose name was not specified. According to the bank, the platform offers services centred around tokenized funds. Tokenization is the process of creating blockchain-based representations of real-world assets. Citigroup Inc. estimates the tokenization market could hit $5 trillion by 2030, covering bonds, property, and private equity. The bank will leverage this platform to offer record-keeping services to help tokenized fund issuers manage investor information. The platform is also interoperable, ensuring that any…

Michael Sonnenshein, CEO of cryptocurrency asset manager Grayscale Investments, suggested that outflows from the Grayscale Bitcoin Trust (GBTC) may be reaching a balance after months of investor sell-offs. Grayscale has struggled to maintain its market dominance since the U.S. Securities and Exchange Commission (SEC) approved the launch of Bitcoin ETF products from nine other applicant companies in January. Despite this, total outflows from Grayscale Bitcoin Trust (GBTC) in the last three months have exceeded $15 billion. However, the increase in Bitcoin’s value caused Grayscale’s assets under management to fall to just $23.13 billion, with a lesser impact. Sonnenshein believes the…

Guild of Guardians Avatars knocked NodeMonkes off the top spot on CryptoSlam’s daily non-fungible token (NFT) charts on Thursday. The Immutable game-linked collection led NFT sales with a daily sales volume of US$828,697, a 19% rise from US$696,862 the day before. NodeMonkes, the Bitcoin collection that led Wednesday’s sales, fell to the third spot as its sales dropped to US$756,950 from US$935,770. NodeMonkes earlier this week became the 26th best-selling collection in the industry with more than US$228 million in all-time sales. DMarket, a Mythos collection for in-game items from popular online games, came in second place with US$774,176, helping…

A top crypto trader thinks one Ethereum (ETH)-based decentralized finance (DeFi) token is an “obvious play” amid recent ETH developments. The pseudonymous analyst known as the Flow Horse tells his 216,500 followers on the social media platform X that the governance token of Ethena (ENA) looks promising. “Looking to go for round 2 of a shift in the pace downward and possible turnaround.” Source: TheFlowHorse/X The Ethena Labs project includes the yield-earning “synthetic dollar” token USDe. The project aims to create a stable and scalable form of money in the crypto space without relying on traditional banking systems. ENA is…

Whale Alert, a popular blockchain tracker, has reported a significant transfer of 20.28 million XRP tokens, valued at approximately $10.6 million at the time of transfer, from prominent exchange Binance to an unknown wallet. The transfer, while catching the attention of many in the crypto community, coincides with unfolding legal proceedings between Ripple Labs and the U.S. Securities and Exchange Commission (SEC). 🚨 20,285,592 #XRP (10,654,792 USD) transferred from #Binance to unknown wallethttps://t.co/N0DE2iTK9b — Whale Alert (@whale_alert) April 26, 2024 Such large transfers often garner attention due to their potential implications for market dynamics and investor sentiment. While the precise…

How do the election outcomes in India and the U.S. affect global crypto policies, with India’s crypto adoption growing and the U.S. maintaining its dominance? Table of Contents Changing stance of political leaders in the U.S. about crypto India’s influence on the crypto world How U.S. election results could influence crypto regulations The ongoing elections in India and upcoming elections in the U.S. could have profound implications for the crypto market, given the distinct roles both countries play in the world economy. India, with its massive population of over 1.4 billion people, has emerged as the largest crypto hub. As…