Author: NBTC

Exchanges experienced a net inflow of 62,000 ETH ($231 million) this week, suggesting a period of volatility is coming. Daily spot buying from ETH permanent holders hit its highest level in 2024 this week. A significant price correction is expected if a spot ether ETF is delayed or denied due to high levels of open interest. Ether (ETH) is expected to experience a period of volatility this week due to exchange inflows spiking to the highest level since March, according to a report by data provider CryptoQuant. The daily net flow of ETH, which tracks inflows and outflows to exchanges,…

Ripple has witnessed the release of 500 million XRP from escrow to cater for May, with the latest escrow unlock coming amid a period of price volatility for XRP. Data from XRPL explorer Bithomp shows that the transaction occurred today at 02:15 AM (UTC), consistent with the standard procedures for escrow unlocks. The execution was initiated by OffEscrowerOfDai, an account commonly engaged in such processes and noted for its unusual memos. Notably, the recipient address also received 500 million XRP from last month’s escrow execution but has held onto the tokens until now. As a result, following the latest release,…

Fagel says the recently canceled SEC’s Sunshine Act meeting is unrelated to Ripple, indicating that such cancellations typically occur for mundane reasons. Marc Fagel, a legal expert and former SEC official, has reacted to ongoing speculation within the XRP community regarding the regulatory agency’s decision to cancel a Sunshine Act meeting. XRP Community Reacts to Newly Passed Bill For context, Good Morning Crypto podcast host Abdullah “Abs” Nassif called the public’s attention to the significance of a pro-crypto bill, dubbed the Deploying American Blockchains Act of 2023, which the U.S. House of Representatives recently passed. According to Nassif, the bill…

The S&P 500 has closed below its 50-day moving average for the first time in five months, marking one of the most bullish events for the U.S. stock market this year; it is a potential warning sign that heavily impacts Bitcoin and the cryptocurrency market in general. But why do stock market moves even affect Bitcoin ? The reason is quite straightforward: it is all about investor mood. When big stock indexes like the S&P 500 falter, it can make investors across all markets feel nervous. They might start thinking, “If stocks are risky right now, maybe I should be…

English artist Damien Hirst is under increased scrutiny this week following claims he backdated more than 1,000 pieces of art from his NFT project “The Currency,” The Guardian reported Wednesday. Damian Hirst Under Fire For NFT Project Following Exposé The controversial artist, perhaps best known for works depicting animals preserved in formaldehyde, allegedly misrepresented the actual dates of an estimated 10% of the 10,000 physical paintings from “The Currency,” all of which corresponded to a matching NFT. Launched in 2021 and sold for $2000, Hirst claimed that all of the physical paintings part of the NFT project were made by…

Nasdaq has submitted an updated 19b-4 form to the Securities and Exchange Commission (SEC) for BlackRock’s proposed spot Ethereum exchange-traded fund (ETF). BlackRock’s updated form, filed on Wednesday, follows the SEC’s request earlier this week for exchanges to revise their 19b-4s, which are critical in the approval process for rule changes necessary for the ETFs to go live. Yesterday, other ETF issuers, including Fidelity, VanEck, Invesco/Galaxy, Ark/21Shares, and Franklin Templeton, submitted their amended filings via CBOE. These amendments mark a significant step in the regulatory process for the potential launch of spot Ethereum ETFs. BlackRock’s filing notably states that the…

Prominent Shiba Inu ecosystem team member Lucie has identified the possible reasons behind SHIB’s recent price dump. Investors expected the prices of various crypto assets, including Shiba Inu, to surge tremendously shortly after the highly anticipated Bitcoin halving event. However, the reverse has been the case, as the broader crypto market continues to witness massive declines. Shiba Inu Dips 18.9% in 7 Days To put it into perspective, the global crypto market cap has slumped 4.8% over the past 24 hours to $2.2 trillion. In particular, the leading canine-themed token, Shiba Inu, has plunged 7.53% in the past day and…

Prime Minister Rishi Sunak set July 4 as the date for a U.K. general election that’s likely to see his ruling Conservative Party lose power. Conservative policy was to promote the U.K. as a hub for the crypto industry, while the Labour Party has not made its stance to the industry clear. A U.K. general election, which could see the crypto-friendly Conservative Party lose its governing mandate, will take place on July 4, earlier than expected. The Conservative Party has said it wants the U.K. to be a crypto hub and has been instrumental in passing legislation recognizing digital assets…

Despite Bitcoin.org offering Bitcoin Core software for download, its owner has been trying for years to discourage website visitors from getting their Bitcoin software from the site, instead pointing them toward BitcoinCore.org. That’s correct: Bitcoin.org has Bitcoin software, but it is not the right software. Specifically, Bitcoin.org currently offers version 25.0 of the software which was last updated on May 26 last year. BitcoinCore.org, however, has the far more up-to-date 26.1 version, updated just two weeks ago. Cobra, Bitcoin.org’s pseudonymous operator, posted the warning to X — even though the download page on Bitcoin.org itself doesn’t have a warning. Read…

On-chain derivatives trading volume registered an all-time high in March when it reached nearly $317 billion. Rachel Lin, co-founder and CEO of the decentralized exchange for perpetuals trading (perp DEX) SynFutures, highlighted to Crypto Briefing that there are still capital efficiency problems hindering perp DEXs’ growth despite recent developments. Lin explained that the current AMM models struggle to compete with centralized exchanges’ order books: despite offering better transparency, they struggle to address high slippage when liquidity is low, which is a big concern for investors. “Like the previous versions, SynFutures V3 introduces an upgrade that majorly impacts liquidity providers (LPs)…