Author: NBTC

As Ethereum rebounded above the $3,200 mark this weekend, the network experienced a significant surge in activity, recording its highest single-day growth in nearly 19 months. On May 4, 2024, an impressive 196,000 new Ethereum addresses were created, marking the largest daily increase since Oct. 8, 2022. This spike in network growth is a bullish signal, suggesting a strong and increasing interest in Ethereum. Despite a current price drop below the $3,200 level, the strength of the Ethereum network is still there. The creation of such a large number of new addresses indicates an influx of new participants or renewed…

Bob Ras, the Co-Founder of Coreum and Sologenic, has argued that the XRP Leger is at risk of replacement amid Ripple’s alleged selective funding of projects building on XRPL. Ras recently voiced this sentiment in a series of posts on X. Notably, he issued a compelling call to action directed at Ripple, its development team RippleX, and its CEO Brad Garlinghouse. Ras emphasized that his message is not to propagate fear, uncertainty, or doubt (FUD) about XRPL. Instead, it stands as a clarion call to awaken XRPL believers to the platform’s current challenges. (1/10)🧵Unleashing XRPL’s Potential!Calling all #XRPL believers! @Ripple,…

While the activity in Bitcoin and altcoins is also affecting whales, some whales are buying again and some whales are selling. At this point, two wallets associated with FTX and its sister company Alameda Research transferred a total of $8.3 million worth of cryptocurrency to other unknown addresses and to Wintermute. According to PeckShieldAlert’s post, the address associated with FTX transferred 860 Tether Gold (XAUT) worth over $2 million to Wintermute, while a wallet associated with Alameda transferred a total of 2,027 Ethereum (ETH) worth approximately $6.3 million to two unknown addresses. . While the real reason behind these transfers…

There are more Bitcoin holders than ever—each individually smaller than a shrimp yet whale-like in aggregate. In a report released Monday, Fidelity Digital Assets highlighted the growing number of Bitcoin addresses containing at least $1,000 worth of BTC, calling it a “positive trend of growth.” This constituency grew to an all-time high of 10.6 million wallets in mid-March, the analysts wrote, the milestone representing a 100% increase from 5.3 million Bitcoin addresses in 2023. “This may be representative of a growing distribution of Bitcoin and its adoption among the ‘average’ person,” the analysts wrote, adding that the metric indicates “growth…

Decentralized perpetual contracts exchanges (perp DEX) registered an all-time high in monthly trading volume in March at $317 billion, according to data aggregator DefiLlama. Despite a slight slump in April to $304 billion, the volume managed to stay above the $300 billion mark and represents a 395% year-on-year growth. Imran Mohamad, CMO at Zeta Markets, points to different reasons behind the perp DEX rising momentum. The first one is the developments made within the decentralized finance (DeFi) ecosystem since the “DeFi Summer” happened in 2020. “I think DeFi Summer happened, and then you can start seeing a lot more DeFi…

Ethereum (ETH) liquidations surpass Bitcoin’s (BTC) for the second time over the past seven days. According to data provided by Coinglass, global crypto liquidations reached $195.11 million in the past 24 hours. ETH is currently sitting on top with a total of $64.75 million in liquidations — $57.18 million longs and $7.57 million shorts. Bitcoin comes in second with $46.74 million in liquidations over the past day — $32.85 million longs and $13.89 million shorts. Per the data, the dominating long-position liquidations surface as the global cryptocurrency market sees correction — with the total market capitalization falling from $2.53 trillion…

Kryll.io, a crypto trading automation platform, witnessed an 85% surge in its native token, KRL, on Tuesday morning following the announcement of a new KRL/ETH liquidity pool on Uniswap v3. The development, aimed at enhancing trades and liquidity, propelled Kryll into trending status on Google. At the time of reporting, Kryll was trading at $1.07, reflecting a 50% increase over the last 24 hours with a trading volume of $43.6 million, according to CoinMarketCap data. The platform enables users to automate their trading strategies, facilitating a hands-off approach to cryptocurrency trading. KRL 24-hour price chart | Source: CoinMarketCap The launch…

Kraken has unveiled its latest strategic move aimed at bolstering its presence in the European market. The company has announced a new partnership designed to facilitate the expansion of its product offerings in Germany, a pivotal market in the region for crypto adoption. Scheduled to commence around July 10, 2024, this collaboration will enable Kraken to provide German clients with access to a diverse range of innovative crypto products. The partnership will leverage the expertise and infrastructure of DLT Finance, a subsidiary of DLT Securities GmbH and DLT Custody GmbH, both licensed by BaFin, Germany’s financial regulatory authority. DLT Finance…

Derivatives layer Vega Protocol has announced its pre-launch market cap (MCAP) futures, allowing traders to speculate on the market cap of tokens before they are officially launched. According to Vega’s announcement, the MCAP was built to let traders hedge against the volatility associated with new token releases. Vega’s market cap futures are designed to be held until expiry without the need for funding rates, reducing price risk for participants. The platform employs custom risk models and price-monitoring auctions to maintain the integrity of these futures. The decision comes after Vega offers futures markets for EigenLayer Points and Hyperliquid points. The…

Ethereum’s price has encountered challenges in breaking below the critical $3K support region, with selling pressure being met by sufficient demand, resulting in sideways consolidation. However, a sudden breach of this pivotal juncture could trigger a cascading effect. By Shayan The Daily Chart Upon examining the daily chart, Ethereum’s trajectory has turned bearish following a notable rejection near the $4K mark, fostering a bearish sentiment among market participants. Nonetheless, the decline found a temporary recess upon reaching a substantial support region, encompassing the crucial $3K mark and the price range between the 0.5 ($3133) and 0.618 ($2906) Fibonacci levels. This…