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.

Assured Spot Ether ETF Approval Fails to Stir Slumping Crypto Market

EthereumJun 15

Cryptocurrency markets remained under pressure during U.S. trading hours on Thursday, continuing a pullback that began a day earlier when the Fed signaled it only expected to cut rates once this year. The price of ether (ETH) for a led a mid-morning bounce after U.S. Securities and Exchange Chairman Gary Gensler – in testimony at a Senate hearing – said he expected spot ether ETFs to have received full approvals from his agency by the end of the summer. The news sent ether higher by 1%, but it turned out to have been a selling opportunity, with the price reversing…

Solana (SOL) Jumps 9% as Major Congestion Fix Hits Mainnet

AltcoinsJun 15

Solana (SOL) has every reason to go on a parabolic run as community members are ecstatic following the release of a major congestion fix on the mainnet. According to a new update from the blockchain, a new version upgrade dubbed v1.17.31 has been released and is now available for use by MainnetBeta validators. For the past few years, Solana has faced massive congestion that has caused a lot of damage to applications hosted on it, investor’s assets and, ultimately, its reputation. The congestion issues became compounded by the explosion of meme coins on the blockchain. These meme coins helped Solana…

Billionaire Chamath Palihapitiya Says It Makes Sense for Countries To Hold Bitcoin in Dual-Currency Environment

BitcoinJun 15

Billionaire venture capitalist Chamath Palihapitiya says it would be a smart move for some countries to use Bitcoin (BTC) alongside their local currency. In a new installment of the All-In Podcast, Palihapitiya says he recently spoke with Wences Casares – a Silicon Valley entrepreneur who introduced him to Bitcoin in 2010 when BTC was trading at around $80. Palihapitiya says Casares explained a “powerful concept” that maps out a path for the mass adoption of BTC. “When I talked to Wences about this, how he explained it, which makes a lot of sense to me is there are a lot…

SEC Chair Gensler skirts questions on ETH as a commodity

EthereumJun 15

In a hearing on the fiscal 2025 budgets for both the Securities and Exchange Commission and the Commodity Futures Trading Commission, crypto was — of course — one of the big topics discussed. Senator Bill Hagerty, R-TN asked SEC Chair Gary Gensler about the timeline for a potential ETH ETF, to which Gensler seemed to confirm that the products would face final approval this summer. “I would envision sometime over the course of the summer” that the individual issuers would be approved, Gensler answered. This lines up with previous Blockworks reporting from Ben Strack, who wrote Wednesday that the SEC…

390 Million XRP Unloaded on Major Korean Exchange in Epic Whale Move

AltcoinsJun 15

In an eye-catching development within the crypto market, a substantial sum of 390.87 million XRP tokens was transferred today to Bithumb, South Korea's second-largest exchange. The transfer, disclosed by Whale Alert, involved approximately $201.1 million worth of XRP moving from the wallet address "rDxfh" to Bithumb's address "rrsSU". Further investigation into the transaction reveals that the sender's address is linked to Bithumb, having been activated over four years ago. Following the transfer, the sender's address was left with a nominal balance of 19.99 XRP, while the recipient address now holds 553.17 million XRP. 🚨 🚨 🚨 🚨 🚨 🚨 🚨…

Is There Really a Bitcoin Shortage on Exchanges?

BitcoinJun 15

In the volatile world of cryptocurrency, the way Bitcoin interacts with the market is often misunderstood. Contrary to popular depictions, the movement of Bitcoin on exchanges is more fluid than many might expect. This fluidity can affect perceptions of supply and demand, as well as the overall pricing of Bitcoin at any given moment. A crypto enthusiast and trader known on platform X as TXMC recently shed light on a common misconception about Bitcoin’s availability on exchanges. According to TXMC, the volume of Bitcoin present on trading platforms is considerably more abundant than what is typically reported. Unlike a finite…

Symbiotic launch disrupts restaking landscape: IntoTheBlock

DeFiJun 15

The launch of restaking protocol Symbiotic brought another evolving step to the restaking landscape, according to IntoTheBlock’s “On-Chain Insights” newsletter. Symbiotic reached its cap for liquid staking tokens in less than 48 hours, and its popularity is bolstered by a $5.8 million investment from Paradigm and cyber.Fund. EigenLayer has seen 48% of all Liquid Staking Tokens (LST) being restaked within its protocol, the highest proportion to date. It has also placed limits on the deposit of Lido’s stETH, which has prompted some users to transfer their LST from Lido to EigenLayer in search of higher yields. Image: IntoTheBlock Restaking was…

Market Indicators Point to More Dips

EthereumJun 15

Ethereum price struggled to clear the $3,650 resistance. ETH started another decline and there is now a risk of more dips below the $3,420 support. Ethereum started a fresh decline below the $3,550 support zone. The price is trading below $3,540 and the 100-hourly Simple Moving Average. There is a crucial bearish trend line forming with resistance near $3,550 on the hourly chart of ETH/USD (data feed via Kraken). The pair could extend losses if it stays below the $3,550 resistance zone. Ethereum Price Struggle Continues Ethereum price failed to start a recovery wave above the $3,550 and $3,580 resistance…

Shiba Inu Records Largest Burn in a Month as 650,000,000 SHIB Moves to Dead Wallet

AltcoinsJun 15

Shiba Inu just recorded its largest burn transaction in over a month, as a single wallet recently sent exactly 650,000,000 SHIB tokens to the burn address. The Shiba Inu community has upheld the burning campaign despite relative silence, making occasional contributions to help bolster the deflationary trend. As a result, community members and ecosystem projects have continued to send millions of SHIB to the dead wallet. However, SHIB recently recorded one of the most significant burn transactions in recent times, triggering a spike in the burn rate. Notably, an unknown wallet sent 650 million Shiba Inu to the burn address…

Bitcoin (BTC) Breakout Has Strong February 2017 Vibes: Top Trader

BitcoinJun 15

According to trader Jake Wujastyk, the current Bitcoin price action is similar to its performance in February 2017. On his chart, the trader is comparing two Bitcoin breakouts from February 2017 and October 2020. #Bitcoin This current breakout to new all-time highs has very similar price action to the February 2017 breakout (see orange boxes). $BTCUSD pic.twitter.com/66wE4ld9jJ — Jake Wujastyk (@Jake__Wujastyk) June 2, 2024 In both instances, the major cryptocurrency experienced substantial rallies after consolidating below corresponding resistance levels. A similar scenario is unfolding right now, with the flagship cryptocurrency seemingly gearing up for another rally under the $68,000 level.…