Author: NBTC

Wall Street’s leading banks announced their forecasts for the first interest rate cuts of 2024, following last week’s strong employment data and in anticipation of the FED’s decision to keep interest rates constant this Wednesday. Banks’ estimates of the timing and size of the first rate cuts vary; some are expected as early as September, some are not expected until December or even 2025. Expected reductions range from 25 basis points (BPS) to 100 BPS. Here are banks’ interest rate reduction predictions based on their own current data: Bank of America, BNpp and Deutsche Bank expect the first interest rate…

Rollup interoperability infrastructure Omni Network launched its native OMNI token today, and its price crashed 44% at the time of writing, according to data aggregator CoinGecko. Now sitting at $30.03, the OMNI exhibits a fully diluted valuation of over $3 billion and a $318 million market cap. In the last 24 hours, the trading volume for OMNI reached almost $447 million. OMNI crashes 44% less than 12 hours after its airdrop OMNI’s price in the last eight hours. Image: CoinGecko However, the crash might not be tied to the perceived value of the token, instead following the movements of the…

French President Emmanuel Macron dissolved parliament on Sunday, calling a snap election. Macron called the election after his rival Rassemblement National party secured a victory in the European Parliament election. French President Emmanuel Macron dissolved parliament and called a snap election after his ruling Renaissance party secured only about half the seats of Marine Le Pen’s National Rally in elections for the European Parliament. The two rounds of voting are expected to take place on June 30 and July 7. The election is unlikely to undo the country’s advances in the crypto industry. It registered 74 crypto companies last year,…

Michael Saylor, cofounder of MicroStrategy business intelligence giant and a prominent Bitcoin evangelist, continues a series of BTC-themed tweets that he has been publishing daily. His recent tweet coincided with the world’s leading digital currency reclaiming the much-anticipated $71,000 price level. In an earlier tweet, however, Saylor made a Bitcoin-related prediction about the future of money. Join the Swarm. pic.twitter.com/L2NU9Oxcdo — Michael Saylor⚡️ (@saylor) June 4, 2024 Michael Saylor’s statement as Bitcoin price jumps In a recent tweet, Saylor published an AI-generated photo of a bee inside a beehive with a Bitcoin mascot inside it. “Join the Swarm,” the tweet…

Evgeny Gaevoy, CEO of Wintermute, said if Ethereum fails in the future, it will not be because of technical shortcomings compared to competitors like Solana. Instead, the core issue is the contradiction in Ethereum’s leadership. “If ETH fails in the future it [won’t] be because ‘Solana is faster’, it will be because the [ETH] ‘elite’ is still stuck in a massive contradiction,” Gaevoy stated in a recent post on X. His remarks come as a response to the controversy that erupted following Vitalik Buterin’s critique of celebrity memecoins. According to Buterin, projects should aim to deliver societal value and leave…

The meme stock influencer Keith Gill, better known as Roaring Kitty or DeepFuckingValue, took an online jab at himself on Monday over the plummeting value of his GameStop holdings. “You were a billionaire,” a meme image he posted to Twitter (aka X) read, showing an illustration of a man pointing intently at himself in the reflection of a mirror. Meanwhile, GameStop shares have fallen 15% on the trading day to about $24, showing a 63% decrease relative to their peak price of $64.75 last week. Previously, amid Gill’s online return, shares in the video game retailer had spiked as high…

Polkadot’s parachain Polimec wants to revolutionize fundraising for Web3 projects through an innovative approach that sets it apart from rivals. According to its website: “Polimec enables fundraising in a decentralized, transparent, and regulatory-compliant manner, aligning stakeholder incentives during and beyond the fundraise.” Co-founder Kasper Mai Jørgensen further explained that Polimec enables fundraising directly on-chain without intermediaries in a transparent, fully decentralized, and regulatory-compliant manner. The project was conceptualized in 2020 by the team behind KILT Protocol and later became an independent project with its own non-profit organization in June 2022. Polimec’s native PLMC token grants holders access to the platform’s…

A provision in the recent spending package from the Senate’s intelligence committee targets crypto ties to terrorism and caught many in the industry off-guard, criticizing it as a flawed approach to a worthy goal. The staff of the panel’s chairman, Sen. Mark Warner, has been meeting with people in the digital assets industry to talk about the provision, sources say. Crypto insiders predict the effort isn’t likely to survive the budget process. A piece of legislation with heavy implications for the digital assets sector made it through the Senate Select Committee on Intelligence’s funding package recently without most in the…

After Bitcoin’s ATH of $73,800 in March, it experienced sharp corrections to $56,000 due to profit taking by long-term investors. While BTC has recovered following these corrections, it has been following a horizontal course in recent weeks. While market analysts stated that Bitcoin was preparing for a major rally after the current consolidation phase, CryptoQuant analyst also predicted that Bitcoin may be preparing for an increase. At this point, CryptoQuant analyst, who examined the Bitcoin NVT Golden Cross indicator, claimed that according to this indicator, Bitcoin may be signaling a potential local bottom around $ 69,000. Stating that there has…

Ethereum fell below the $3,700 threshold, failing to break through the consolidation channel. With the price failing to surge upward, we might see another period of consolidation where the moving average could catch up with the massive volatility witnessed a few weeks ago and potentially provide some ground for a rally continuation. Since this level has been a crucial area of support for ETH, the recent decline below $3,700 is especially raising some concerns and questions. If it breaks below, it may indicate that bulls need to reorganize as bears are becoming more powerful. Sharp swings in price action are…