Author: NBTC

Yesterday the price of Ethereum bounced back from its local low around $2,850, driven by a frenzy of shopping by a mysterious wallet that accumulated a whopping 30,680 ETH in less than 24 hours, equivalent to over $92 million. Purchases of this kind by whales suggest important signals for the evolution of the price action of the crypto asset, which could now see strongly bullish forecasts in the coming weeks. Meanwhile, the macroeconomic landscape also seems to support risk-on assets, after yesterday’s CPI data indicated inflation in line with market expectations.Let’s see all the details below. Mysterious wallet buys 30,000…

After two surreal days of spectacular gains, it looks like GameStop is finally crashing back down to reality. On Wednesday, GameStop stock (GME) crashed some 30% in the market’s opening minutes, to $34.12 as of this writing. That slippage wiped away a major chunk of the remarkable rally enjoyed by the stock this week, which began on Sunday when Keith Gill, aka Roaring Kitty—the meme stock influencer who architected GME’s Reddit-fueled short squeeze in 2021—appeared to return online after years of silence. Still, today’s crash has yet to wipe out the full extent of GME’s recent gains. The Nasdaq has…

Despite the recent ups and downs in the crypto market, some traders have been showing significant patience and profits. Lookonchain, a famous on-chain analytics forum, recently disclosed such an event where a trader patiently made huge profits within a few weeks. LookOnChain revealed this development on its official X account. This trader is so patient!He turned 60 $SOL($8,673) into $1.26M in 2 months, a gain of 144x!He spent 60 $SOL($8,673) to buy 24.8M $HAMMY at $0.00035 on Mar 10.About a month later, the price rose to $0.007, and his gain had exceeded 20x, but he did not sell for profit.……

CleanSpark had just finished hailing the benefits of its purchase of a Wyoming crypto-mining site when the White House declared that the current operation was a national security threat that must be halted. The company says it was unaware of the order before buying the properties but intends to move forward with the acquisition. Order would mark first “the first presidential prohibition relying on the expanded authority over real estate transactions granted to CFIUS and the president.” An American bitcoin mining company, CleanSpark (CLSK), got caught up in the U.S.-China political war after buying mining sites in Wyoming within close…

In his recent social media post, Legendary trader Peter Brandt teased the possibility of an incoming major price move for Bitcoin, hinting at the potential for a “pump” in the cryptocurrency’s value. In a chart presented, Brandt identified a recurring pattern in Bitcoin’s market behavior, which he breaks down into three phases: 1. Hump-Slump, 2. Bump-Rump, 3. Pump-Dump. This whimsical yet insightful characterization captures the cyclical nature of Bitcoin price movements. What say you?? $btc pic.twitter.com/IDvIpkZeER — Peter Brandt (@PeterLBrandt) April 18, 2024 While the current cycle has completed the two phases of hump-slump and bump-rump, the third phase remains…

In a recent social media discussion, Dogecoin co-author Billy Markus gave his opinion on the upcoming SEC decision regarding Ethereum-based exchange-traded funds. Responding to a skeptical post about the fate of ETH ETFs, Markus expressed an equally pessimistic stance, implying that the current “compromised” state of the regulator holds little good for potential approval. i don’t think it’s that important personally the SEC is compromised anyway, nothing good will come out of it until the house is cleaned — Shibetoshi Nakamoto (@BillyM2k) May 15, 2024 This statement from Markus comes amid heightened expectations surrounding Ethereum’s legal position as part of…

Stalled or canceled cryptocurrency projects at Nasdaq – including a previously unreported effort to tokenize U.S. Treasury bills – have led to members of the exchange giant’s digital assets team no longer working at the company, according to three people with knowledge of the matter. In July, Nasdaq announced it would stop trying to become a licensed custodian of crypto or digital assets, blaming regulatory uncertainty in the U.S. It quietly shifted to the suddenly hot area of tokenizing T-bills, or creating blockchain-based versions of U.S. debt, according to a person familiar with the matter. But some Nasdaq crypto team…

Filecoin recently shared its Q1 2024 report with the general public. The report showcased an overview of the network’s performance this year. According to the report, Filecoin’s storage market has grown remarkably in 2024. Its active deals have gone up 9% in the Quarter-on-Quarter analysis. Its utilization increased from 18% in 2023 Q4 to 23% in 2024 Q1. However, its storage capacity has dropped 14% based on the quarter-on-quarter analysis. Before the end of the latest quarter, Filecoin managed to onboard 2,000 clients. Of these, 508 have onboarded the large datasets (more than 1,000 TiB.) The number has also surged…

While Bitcoin, the leading cryptocurrency, was preparing for the halving event that will take place hours later, there were sharp declines last week. While these sharp declines and outflows in ETFs have partially overshadowed the sentiment towards the halving, the bullish expectation for the post-halving is that Bitcoin will exceed the highest level of the 2021 cycle even before the halving, reaching its all-time high above $ 73,000 in mid-March and attracting both institutional and institutional investors. It continues to be fueled by the increasing interest of individual investors. Speaking to The Block, Coincover Strategy Head Duncan Ash stated that…

In a candid tweet Thursday, DeGods and y00ts NFT project founder Rohun Vora (aka Frank DeGods) took a critical look at his previous decisions, especially those made during tumultuous times for the well-known collections. His reflection sheds light on the pressures of community expectations and being a founder. “I used to try to move mountains to appease the community in times of chaos,” he began. “Every single time it’s backfired.” Throughout the years as the leader of DeGods, he has made many decisions to try and please his holders and keep the buzz going. For example, the team went through…