Author: NBTC

NBTC

NBTC is the editorial account for NBTC News, covering Bitcoin, Ethereum, DeFi, blockchain infrastructure, exchanges, mining, regulation and digital asset markets. The editorial team focuses on clear sourcing, timely updates and practical context for crypto readers.

$8.12 Billion in Bitcoin and Ethereum Options Expiring Today: Market Impact

BitcoinJun 17

Today, approximately $8.12 billion worth of Bitcoin (BTC) and Ethereum (ETH) options are due to expire. Market watchers are particularly attentive to this event due to its potential to influence short-term trends through the volume of contracts and their notional value. Examining the put-to-call ratios and maximum pain points can provide insights into traders’ expectations and possible market directions. Insights on Today’s Expiring Bitcoin and Ethereum Options The notional value of today’s expiring BTC options is $4.65 billion. According to Deribit’s data, these 261,390 expiring Bitcoin options have a put-to-call ratio 0.6. This ratio suggests a prevalence of purchase options…

XRP Whale Cashes Out $25M Despite Recent Ripple Rally

AltcoinsJun 17

Massive XRP transfers to centralized exchanges by a prominent whale have sparked concerns among investors, despite the cryptocurrency’s recent price recovery. Over the past 24 hours, a whale has moved an enormous volume of XRP to centralized exchanges (CEXs). This move comes against the backdrop of XRP’s recent price recovery, which has led to increased scrutiny of whale behavior and its potential impact on market dynamics. 🚨 30,045,000 #XRP (14,533,925 USD) transferred from unknown wallet to #Bitstamphttps://t.co/JL4N3c3nzx — Whale Alert (@whale_alert) June 12, 2024 Based on on-chain data, one of the most active XRP whales moved about 52 million XRP…

Coinbase Halts Trading of Two Crypto Tokens: Here's Why

ExchangesJun 17

Major crypto exchange Coinbase has announced the disabling of trading for Metal DAO (MTL) and Enjin Coin (ENJ) on its platform. This action implies that users may no longer be able to trade MTL and ENJ on the Coinbase platform. While trading for Metal DAO (MTL) and Enjin Coin (ENJ) is disabled on the Coinbase platform, user funds will remain accessible to them, and they will continue to have the ability to withdraw their funds at any time. Coinbase's move to halt trading for Enjin coin follows a recent assessment in which the cryptocurrency exchange frequently reviews the assets on…

Bitcoin Is Still Strong, but Macro Factors Pose Risk, Crypto Analyst Says

BitcoinJun 17

Rising bond yields pose a risk to bitcoin, crypto trader Chang told CoinDesk. The present level of bond yields could weigh on all assets, Goldman Sachs said. While bitcoin (BTC) continues to chop at elevated price levels just below record highs, suggesting a typical temporary bull-market pause, at least one observer is worried that recent macroeconomic developments could impede a move higher. "Bitcoin is still strong, but macro factors are threatening," crypto options trader and market analyst Chang told CoinDesk in an interview. "Bond yields are very unstable as the demand is weak compared to U.S. Treasuries issuance. If there…

Tech Entrepreneur Suggests Mainstream Companies May Have Adopted NFT Loyalty Programs Prematurely

NFTJun 17

According to Juan Otero, CEO of the crypto-native travel booking platform Travala, many mainstream companies that attempted to use non-fungible tokens (NFTs) for customer or user loyalty programs may have seized the opportunity prematurely. Otero argued that at the time, Web3 companies had not “even figured out the best ways to use NFTs in loyalty programs.” NFT-Based Loyalty Program Failures Tarnished Tech’s Reputation While their adoption of the technology signaled a positive development for the blockchain industry, the apparent failure of such loyalty programs has tarnished the reputation of NFTs, the Travala CEO argued. However, in his written answers to…

$550M+ Bitcoin, VET and ETH Balance Revealed

AltcoinsJun 17

VeChain reports a strong financial position with a total value of $550,972,484.57. The approval of the BTC ETF has significantly boosted the blockchain market. According to the latest update on VeChain Official, the VeChain Treasury Report for Q1 2024 reveals a robust financial standing with a total value of $550,972,484.57. This positive outlook is buoyed by the recent approval of the BTC ETF, signaling growing institutional interest in blockchain technology. This new report builds on the previous updates shared by CNF, highlighting VeChain’s substantial financial growth and stability in Q3 and Q4 of the previous year. Treasury holdings increased significantly…

OkayCoin launches crypto staking services in South Korea

ExchangesJun 17

OkayCoin, a cryptocurrency exchange, has officially launched in South Korea. According to a June 15 press release, the move aims to cater to the growing demand for crypto staking services across the region. The team also claims the move is in response to the increasing adoption of blockchain-based digital assets and investors’ desire for passive income. The global interest in crypto is on the rise. For the uninitiated, staking allows investors to earn rewards by participating in the network operations of certain cryptocurrencies, providing a source of passive income. This trend has seen a surge in demand for efficient staking…

Ethiopia’s Power Deals with Chinese Firms Fuel Bitcoin Mining Boom

MiningJun 17

Ethiopia, Africa’s second-largest country, is witnessing a Bitcoin (BTC) mining boom fueled by power agreements with Chinese firms. Colin Wu, a prominent Chinese cryptocurrency journalist, reported that Ethiopia, with a population of 115 million, now has more than 1.8 million cryptocurrency users. The Ethiopian Energy Authority has entered into power agreements with 21 Bitcoin mining companies, 19 of which are from China. Local mobile money platforms have already enabled users to buy and sell cryptocurrencies and stablecoins through Binance and Paxful. The Evolution of Ethiopia’s Stance on Crypto In June 2022, Ethiopia’s central bank, the National Bank of Ethiopia (NBE),…

Legendary Trader Peter Brandt Reveals Epic 344% Bitcoin Price Growth Prediction

BitcoinJun 17

Veteran trader Peter Brandt has made an epic new prediction about Bitcoin's future value relative to gold. According to analysis, Bitcoin (BTC) is set to keep on going up against precious metal over the next 12 to 18 months. He foresees that the number of gold ounces needed to buy one Bitcoin would eventually reach 100, which would mean a 344% rise in Bitcoin's current value compared to gold. Since its inception Bitcoin $BTC has gained against Gold. This chart shows the # oz. of $GC_F to buy one BTC. The ratio should chop for another 12 to 18 months…

An Introduction to Bitcoin Ordinals

NFTJun 17

Bitcoin Ordinals have emerged as a novel way to enhance the functionality and use of Bitcoin, the original cryptocurrency. By leveraging Bitcoin’s blockchain in a new and innovative manner, Ordinals bring unique value propositions and helps to revitalize Bitcoin’s developer community. What Are Bitcoin Ordinals? In simple terms, Bitcoin Ordinals are digital collectibles created by inscribing content like art or media onto individual satoshis on the Bitcoin blockchain. Each inscribed sat is one-of-a-kind and can be owned, collected, and traded like a non-fungible token (NFT). Ordinals allow for the assignment of a unique number to each individual satoshi (sat), which…