Author: NBTC

Bitcoin (BTC) accumulation by old and new whales shows distinct price points with Spot ETF fueling the latest large-scale buyup. According to data from crypto analytics platform CryptoQuant, old Bitcoin whales acquired the coin mostly at an average price of $21,300 while new whales bought on average around the $56,400 mark. This differing price mark shows that Bitcoin price in general has different resistance and support zones that market participants need to watch out for. However, the current trend allay the fears of immediate selloff by whales, seeing the coin is trading above these two averages with its market value…

Sunbeam, the second stage for the Sunrise of decentralized data, has now been activated, being the start of the upgrade window. It was in October 2023 when The Graph ecosystem worked out a game plan and pledged to implement it on the Sunrise of decentralized data, providing the option for all hosted service users to be able to upgrade their subgraphs to The Graph Network. The upgrade window starts with immediate effect and finishes on the 12 of June, wherein it is mandatory for hosted service users to scale their subgraphs to The Graph Network. This will have the backing…

With social media aflutter with news that Uniswap had received a Wells notice, it’s important to define exactly what Uniswap and a Wells notice are. Uniswap is what’s known as a decentralized exchange — a platform that relies on smart contracts to execute buy and sell orders for customers instead of a matching engine controlled by a centralized entity. While the domain and front end of the website are able to be seized or shut down, many aspects of Uniswap — like the backend and the protocol — cannot simply be seized to stop customers from trading. Additionally, Uniswap offers…

JPMorgan recently published a research report stating that spot Ethereum (ETH) ETFs have no more than a 50% chance of being approved in May. This comes to light in light of the US Securities and Exchange Commission’s (SEC) ongoing investigations into companies associated with the Ethereum Foundation. The bank maintained its stance, first expressed in January, that these products were unlikely to be approved next month. The SEC, which approved spot Bitcoin (BTC) ETFs earlier this year, is expected to make final decisions on some Ethereum ETF applications by May 23. The approval of BTC ETFs led to speculation that…

Google Cloud has launched its EigenLayer mainnet node operator, marking a milestone for the restaking protocol and its ecosystem. Sam Padilla, Web3 product manager and node operator at Google Cloud, announced the successful launch of the company’s EigenLayer mainnet operator on X (formerly Twitter). Excited to share that the @googlecloud Eigen Layer mainnet operator is up and running! Congrats to the @eigenlayer team on a successful mainnet launch. Excited for what is coming!https://t.co/4wcotltiBu — Sam Padilla (@theSamPadilla) April 9, 2024 This move follows Google Cloud’s previous involvement in EigenLayer’s “Operator Working Group” alongside more than 65 other operators and solo…

In a recent analysis by CryptoQuant, an on-chain data platform, their verified author Crazzyblock sheds light on a significant shift in the Bitcoin market landscape. Realized Cap, a metric representing the aggregate value of Bitcoin at the prices each unit last moved, is indicating a notable trend: nearly half of Bitcoin’s realized capitalization is currently held by short-term holders. According to Crazzyblock’s findings, the distribution of Bitcoin’s Realized Cap across different holding periods reveals an intriguing scenario. An estimated 48% of Bitcoin’s realized value is now in the hands of short-term holders, who are typically classified as investors holding their…

AltLayer introduces the second stage of ALT staking, which will allow the dual staking function for users to stake ALT, along with ETH and LSTs. Dual stakers will come in for rewards from the forthcoming Xterio ecosystem rewards. MACH functions as an AVS, wherein users can allocate ETH and LSTs. The economic collateral kept side for harnessing MACH is utilized to attest to the viability of the said rollup’s condition. This brings about a quick finality layer for rollups. MACH, created as an overlay network, offers accelerated pre-confirmations and economic support through restocking. In the way of finality, MACH provides…

It is just as likely that the Securities and Exchange Commission will reject a spot Ethereum exchange-traded fund (ETF) next month as it is to approve it, according to JP Morgan analysts. Pointing to the regulator’s recent actions against Ethereum-related entities, analysts at the bank said in a Thursday note that things do not look good for approval. The analysis continues an increasingly pessimistic market sentiment regarding the potential new investment vehicle. “In our opinion the recent news that the SEC is investigating firms associated with the Ethereum Foundation is also consistent with the view that there is no more…

The gaming industry is undergoing a landmark shift with the unveiling of Immutable Nexus by Immutable. It sparks widespread anticipation and interest in the community. This innovative gaming ecosystem is revolutionizing gaming chains. In addition to this, it incorporates Dedicated zkEVM chains, powered by Polygon, as well as a variety of cutting-edge advancements. Introducing Immutable Nexus – The Ecosystem of Gaming ChainsMany AAA game studios require their own chain due to their size and need for complex capabilities.As always, Immutable is here to deliver… pic.twitter.com/MS7aDZAG4C — Immutable (@Immutable) April 10, 2024 Immutable Nexus Enhances Scalability and Monetization Immutable Nexus is…

Following a remarkable surge that propelled Bitcoin to an all-time high of $73K, the price encountered significant selling pressure, resulting in a rejection. However, after undergoing a period of corrective retracement, the price has found a firm foothold within a crucial support region, potentially putting a halt to the prevailing downtrend. Technical Analysis By Shayan The Daily Chart A comprehensive analysis of the daily chart reveals that Bitcoin’s impressive rally led to the breach of a significant resistance zone marked by its previous all-time high of $70K, ultimately reaching a new peak at $73K. However, intensified selling pressure emerged, likely…