Author: NBTC

Bitcoin (BTC) fell below weekly lows on Friday, reaching as low as $65,600 after hitting fresh all-time highs. However, market observers remained calm, attributing the dip to typical corrective moves within a broader uptrend. Popular commentator On-Chain College, which boasts over 52k followers on X, noted that a 10% retracement in Bitcoin’s price is normal during bull runs, contrasting it with the possibility of greater than 30% corrections. With the majority of the supply sitting in unrealized profit after the strong move to all-time highs, On-Chain College described the Bitcoin dip as “very normal bull market behavior.” “This drop is…

The recently introduced XRPL AMM feature has a functionality that helps burn XRP tokens when market participants create new AMMs. The XRP Ledger (XRPL) has taken another step toward a deflationary model with the introduction of its Automated Market Maker (AMM) feature. While this functionality primarily looks to provide liquidity, it also has a built-in mechanism that burns XRP tokens, contributing to its scarcity. How the XRPL AMM Feature Burns XRP In a recent post on X, Panos Mekras, a key figure in the XRP community and co-founder of Anodos Finance, highlighted the deflationary impact of the AMM feature. Did…

Bitcoin witnessed a notable intraday swing from $65,569 to $73,794, reflecting a volatile market environment. Despite this turbulence, its market capitalization still holds strong at just over $1.3 trillion, supported by a substantial 24-hour trading volume of $89 billion. Bitcoin The analysis of bitcoin’s (BTC) oscillators and moving averages (MAs) presents a mixed signal for BTC’s immediate direction. Oscillators such as the relative strength index (59) and the Stochastic (78) indicate a neutral stance, suggesting a period of consolidation. However, the momentum indicator points to a bullish action, contrasted by the moving average convergence divergence (MACD) level advocating a bearish…

The weekly transaction volume of Tether (USDT) on Tron hit $110 billion in the first week of April, signaling heightened stablecoin activity on the network. According to a tweet by IntoTheBlock, Tether’s latest milestone on Tron was 2x the amount the stablecoin settled on Ethereum. This indicates that Tron has maintained its position as the leading network for USDT transactions. USDT Records $110B Volume on Tron IntoTheBlock attributed high USDT transactions on Tron to the network’s low fees, saying that the blockchain has allowed users to access the United States dollar-backed asset easily. Last month, CryptoPotato reported that USDT transaction…

On or around April 19, the fourth Bitcoin halving will take place, cutting in half the rewards miners receive for solving a block on the Bitcoin blockchain. The halving event is programmed into Bitcoin’s protocol every 210,000 blocks and occurs roughly every four years. It is designed to limit the digital asset’s total supply and establish a fundamental scarcity. Therefore, efficiency is critical for bitcoin (BTC) mining companies to remain competitive as the 2024 halving approaches and even as the following halving in 2028 is considered. To prepare, bitcoin miners must examine three key areas of their business: power, operations…

In the ever-volatile world of cryptocurrencies, Bitcoin (BTC) experienced a noticeable dip today, with its price falling to $67,549. This represents a 7.25% decrease in the last 24 hours, causing a stir among investors and traders. The sudden price drop comes after a period of notable increases, where Bitcoin notably achieved a new all-time high (ATH), signaling strong bullish momentum in recent weeks. However, according to renowned crypto analyst Rekt Capital, this dip should not be a cause for alarm among the cryptocurrency community. Instead, it is described as a healthy price correction ahead of a significant upcoming event in…

Retail investors looking to tap into Bitcoin’s DeFi potential could do a whole lot worse than taking a look at USDb, a new kind of high-yield, synthetic dollar crypto asset that’s built on Merlin Chain’s Layer-2 infrastructure. The USDb asset is the first “Synth” created by the smart money protocol Umoja, which has set itself the goal of providing retail investors with access to the same kinds of advanced trading strategies that were once exclusive to the world’s biggest hedge funds and institutions. Umoja believes that the path to wealth creation is blocked for many retail investors due to what…

The influx of capital into stablecoins has surged, with a staggering $4.21 billion injected into dollar-pegged cryptocurrencies within the last ten days. According to data from DefiLlama, the stablecoin market was about $150.42 billion as of Apri 1. The figure has grown by $4.21 billion to hit $154.63 at press time. Of the $4.2 billion influx, Tether, the most prominent stablecoin issuer, accounted for $2.4 billion in USDT. Notably, most of the USDT tokens were issued via the Tron blockchain. At press time, Tether commands $107.28 billion of the stablecoin market. However, Circle’s USDC, while maintaining its standing as the…

With just over three days remaining until the halving, Core Scientific has announced its plans to enhance its Texas mining facility by an additional 72 megawatts. This project is scheduled for completion by the end of the second quarter of 2024. This expansion aims to augment the company’s existing hashpower capacity. Core Scientific Plans for 72 More MW to Enhance Mining Efficiency With the halving event fast approaching, set to occur in just about 3.5 days, bitcoin (BTC) miners are actively preparing. On Tuesday, Core Scientific, Inc. (Nasdaq: CORZ) revealed plans to expand its Denton, Texas, bitcoin mining campus by…

According to on-chain analytics firm IntoTheBlock, a staggering $750 million worth of Bitcoin (BTC) was withdrawn from various crypto exchanges on March 14, as Bitcoin rose to a fresh all-time peak of almost $73,798. IntoTheBlock reported that over $750 million in BTC were withdrawn from exchanges in the past 24 hours, which is the highest since May 2023. The Bitfinex and Kraken exchanges account for the majority of these withdrawals, totaling $524 million and $130 million, respectively. Over $750m $BTC was withdrawn from exchanges yesterday, the highest since May 2023. The majority of these withdrawals originate from Bitfinex ($524m) and…