Author: NBTC

ETFs that hold Ethereum’s ether (ETH) are unlikely to be approved in May, Standard Chartered said in a report. Rising macro risks have led to a slowdown in spot bitcoin (BTC) ETF inflows. The bank reiterated its end-of-year bitcoin price target of $150,00 and its ether target of $8,000. U.S. regulators probably won’t approve ETFs that give investors access to Ethereum’s ether (ETH) in May, according to investment bank Standard Chartered, which had previously expected the Securities and Exchange Commission to give its blessing then. Approval of spot bitcoin (BTC) exchange-traded funds in January helped fuel a rally in the…

A few days ago Cathie Wood, CEO of investment fund Ark Invest, increased her exposure to Bitcoin, Ethereum, and Tesla. Specifically, the billionaire investor has increased the share of BTC in her own Bitcoin ETF “ARKB”, as well as purchasing ETH from the ARKW fund and various Tesla stocks. This approach denotes Cathie Wood’s bullish position towards the cryptocurrency market and the electric vehicles sector. Let’s see everything in detail below. Cathie Wood adds new Bitcoin holdings to her ARKB ETF and buys Tesla shares Market analysis for Bitcoin: is the bull market starting again? Cathie Wood adds new Bitcoin…

The Arcana network will tap on the Polygon Chain Development Kit (CDK) to further enhance the decentralization of its web3 products. The Polygon CDK is used by web3 developers to launch zero-knowledge layer two networks on the Ethereum network. The Ethereum (ETH) network has established itself as a solid cornerstone for web3 development due to its secure smart contracts. The Ethereum network has grown to a vibrant layer-two ecosystem, which consists of more than 40 networks – led by Polygon (MATIC), Optimism (OP), and Arbitrum (ARB), among others. Meanwhile, DeFi developers have been working on enhanced scalability through added consensus…

The current Bitcoin bull run is generating fewer whales than previous bull runs have done. A recent analysis by Kaiko indeed shows how the daily number of new millionaire wallets per hour has remained below two thousand, while during the last bull run they were over four thousand. The return of whales during the Bitcoin bull run The ongoing bull run Bull run still in its early stages? The return of whales during the Bitcoin bull run The chart published by Kaiko shows that the number of wallets holding more than one million dollars in Bitcoin peaked at the end…

The U.S. SEC postponed the application to open an Ethereum ETF from Franklin Templeton. According to a document published on the regulator’s website, the Commission considers it appropriate to set a more extended period for action on the proposed rule change to give it sufficient time to consider the proposed rule change and its issues. The SEC must decide on Franklin Templeton’s application by June 11. “The Commission shall either approve or disapprove or institute proceedings to determine whether to disapprove the proposed rule change.” SEC filing You might also like: Fidelity files S-1 for Ethereum ETF In February, Franklin…

The online crypto community is busy with discussion about a proposed 1% wealth tax on large holders of Bitcoin (BTC). While there is no official confirmation of such a policy, the rumors have gained widespread attention in light of a recent letter sent to United States President Joe Biden. Rumored 1% wealth tax on crypto The fake letter reportedly signed by Senator Elizabeth Warren targets crypto transactions from large holders, often referred to as whales. The legislative proposal seeks to address regulatory challenges posed by the growing adoption of crypto. The proposal highlights that individuals or corporate bodies holding cryptocurrencies…

Ripple has declared the death of (XRP). Well, to be fair, to be accurate, Ripple CEO Brad Garlinghouse has said the exact opposite when announcing the Silicon Valley crypto mainstay would launch a U.S. dollar-pegged stablecoin later this year. But in the grand scheme of things, XRP’s usefulness is dwindling. (Sorry, XRP Army, it’s my job to speak it how it is.) This is an excerpt from The Node newsletter, a daily roundup of the most pivotal crypto news on CoinDesk and beyond. You can subscribe to get the full newsletter here. The Ripple stablecoin, expected later this year, will…

Guilds that emerged during the play-to-earn boom are evolving with the crypto gaming industry. Now GuildFi has announced plans to rebrand itself to Zentry, with plans to create a unified “superlayer” that rewards players across all types of games—those across multiple blockchains, but also Web2 games and even real-world social experiences. The firm began life back in the Axie Infinity days, running a scholarship program that lent players in-game NFTs in exchange for a cut of their play-to-earn income. Even then, GuildFi aspired to broader aims, describing plans for a cross-game ID that would accumulate points across various games and…

Glassnode’s Bitcoin Spot Cumulative Volume Delta (CVD) registered its highest reading of 2024 on March 11, hitting nearly $900 million. This surge in the CVD, which measures the net difference between aggressive buying and selling pressure across major crypto exchanges, signals a strong bullish sentiment in the Bitcoin market. Looking at the hourly data, a surge of over $360 million occurred around 7 am UTC as Bitcoin rose from $68,500 to $71,200 in the span of 3 hours. The remaining purchases occurred mostly before 8 pm UTC, with around $70 million in selling pressure occurring around 10 am, then again…

As Ethereum (ETH) continues its journey past the $3,000 price point, it faces a formidable challenge: a strong resistance zone lies between $3,170 and $3,270. This barrier is not just a simple price point; it represents a significant concentration of ETH held by 1.63 million addresses, totaling 4.45 million ETH. This accumulation of holdings could be pivotal in determining whether Ethereum can break through and reach the much-anticipated $3,650 level. In a tweet, crypto analyst Ali highlighted a formidable resistance zone for ETH between $3,170 and $3,270, characterized by a concentration of Ethereum holdings among a large number of addresses.…