Author: NBTC

Grayscale’s Ethereum Trust (ETHE) discount has shrunk to under 10%, its lowest level since 2021, amid growing expectations for approving a spot Ethereum exchange-traded fund (ETF). As of May 21, market data from YCharts shows the ETHE discount rate has narrowed to 6.66%. The “discount” indicates when ETHE shares trade below their net asset value (NAV). ETHE began trading at a discount in early 2021 after Grayscale halted redemptions, reaching nearly 60% in late 2022. However, it started to narrow in 2023 as Grayscale secured significant legal victories against the US Securities and Exchange Commission (SEC) in its bid to…

Cryptocurrency research and development platform CryptoRank has announced the next candidates for the Launchpool projects that Binance has recently increased its frequency. In the company’s opinion, LayerZero, Monad and Xterio are among the most important altcoins that can be launched through Binance Launchpool and put tokens on the market. LayerZero is known as an interoperability protocol, Monad is a layer 1 chain, and Xterio is a GameFi-themed token. Renzo (REZ), the latest project of Binance Launchpool, disappointed with its performance despite the popularity of the restaking theme, with its current market value of $ 191 million. The low supply allocated…

Former U.S. Treasury official Graham Steele is receiving backlash after he took to X Monday morning to scrutinize support for the Financial Innovation and Technology for the 21st Century Act (FIT21) ahead of its likely vote on Wednesday. Steele’s X post came in response to a social media petition created by Digital Innovation For America (DIFA) supporting the bill, claiming that “the best way to fight Big Tech is with Blockchain technology.” X Users React After Graham Steele Shares Stance On DIFA FIT21 Petition Calling the written request “pretty sneaky,” Steele noted that the highly-anticipated crypto bill does not include…

Samson Mow, an early Bitcoin investor, head of the Jan3 BTC adoption-focused company, has published an X post where he revealed the when he expects the “Omega time” for the Bitcoin price to arrive. He also made several interesting remarks regarding the Bitcoin halving event which is expected later this week. Here’s when “Omega time” comes: Samson Mow Bitcoin maximalist Samson Mow has tweeted that fear of certain negative developments in the Middle East caused a major Bitcoin price drop over the weekend, when the world’s leading cryptocurrency plunged by more than 13% and entered the $63,240 zone. Since then…

Ethereum price rose to a 40-day peak of $3,719 on Tuesday May 21, 2024, up 30% over the past week, bullish staking trends provide a glimpse into what to expect after the spot ETF approvals. Ethereum Price Hits 65-day Peak, Overtakes BTC as ETF Approval Looms. According to Bloomberg analysts, there’s now a 75% chance that the US Securities and Exchange Commission (SEC) will approve ETH spot ETF this week. Based on recent filings from digital asset management giants, including VanEck and BlackRock, the SEC is now in a race against time to deliver a verdict before the May 23/24…

According to Onchain data, a cryptocurrency whale made significant altcoin trades during today’s decline. The whale in question managed to turn his initial investment of 500 Solana (SOL) into 5,789 SOL, or 781 thousand dollars, in just 15 minutes. This whale was one of these types of traders, called “snipers”, who managed to be among the first investors in memecoins as soon as they were introduced to the market. Balina wallet purchased a large amount of its earnings from an unknown Solana-based token called QUACK. The wallet purchased 665 million QUACKs by spending 500 SOL, which is equivalent to 67…

Crypto Freedom Alliance of Texas and Blockchain Association filed a motion on May 17 to vacate the U.S. Securities and Exchange Commission (SEC)’s new Dealer Rule. The plaintiffs’ counsel argues that the SEC’s expanded definition of “dealer” exceeds its statutory authority under the Securities Exchange Act, particularly affecting the digital asset industry. The brief asserts that the SEC failed to address significant industry comments, lacked specific economic analysis for digital assets, and departed from established interpretations without adequate explanation. They claim this rulemaking process is arbitrary, capricious, and violates the Administrative Procedure Act (APA). The SEC’s new rule would impose…

Bitcoin faces fresh downward pressure, with analysts eyeing potential drops towards $59,000. Loss of key moving average support and on-chain signals hint at a potential reaccumulation phase. “Still very possible that there is 1 more leg down for $BTC…” warns analyst Mark Cullen. Bitcoin’s rollercoaster ride continues, with experts weighing in on where the bottom might lie. Get the latest price analysis, predictions, and insights into what these movements could mean for your crypto portfolio. Bitcoin Risks Breaking Below $60K as Selling Pressure Mounts After failing to hold above $61,000, Bitcoin now faces renewed selling pressure. Analyst Mark Cullen predicts…

Arkham Intelligence data reveals that Vitalik Buterin, the Ethereum co-founder, transferred 80 ETH to the privacy-focused Railgun today. At today’s price, Buterin’s transfer is valued at roughly $300,000. According to on-chain data, this transfer is a significant example of Buterin’s ongoing use of Railgun over the past six months. Buterin’s Continued Support for Privacy Tools Raises Questions and Debates Buterin’s regular transfers to Railgun highlight his view that privacy is a fundamental right. Responding to the attention his actions often receive, Buterin stated that “privacy is normal.” He stressed that although privacy-focused protocols can be misused, tools like Railgun are…

Renzo users could claim their airdrop based on accumulated ezPoints. REZ dips about 35% after listing on Binance and several other exchanges. Renzo seems to have gotten over an earlier scare from ezETH depeg last week. Ethereum liquid restaking protocol, Renzo, plunged nearly 35% on Tuesday after it went live on Binance and opened airdrop claims for its REZ token. Also read: Ethereum dips slightly amid Renzo depeg, BlackRock spot ETH ETF amendment REZ debuts on Binance REZ went live on Binance on Tuesday, one hour after opening airdrop claims for participants in its Season 1 campaign. Binance Launchpool had…