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.

Democrats To Abruptly Reverse Party Stance on Crypto To Avoid Election Disaster: Mike Novogratz

The CEO of the crypto investment firm Galaxy Digital says Democrats are changing their tune on crypto as the 2024 US Presidential election approaches. In a new interview with CNBC’s Squawk Box, Mike Novogratz says the Biden administration is listening to the markets and shifting its standpoint on crypto. “But assuming, you know, the market is right, and the market is usually pretty smart, it feels like someone at the Biden White House made a call and said, guys, we can’t be the party against crypto anymore. I think that’s a seismic shift. If those things actually happen, prices are…

LegalMay 25

Why is crypto down today? Bitcoin sheds 4.3% in 24 hour trading

Bitcoin (BTC) has declined by 4.3% over the past 24 hours, resulting in a widespread collapse across the broader crypto market, as investors exit the market at breakeven on the back of the recent recovery push. The cryptocurrency market is witnessing a sharp decline following the latest rebound that saw multiple assets record double-digit gains. Bitcoin reclaimed the $66,000 price territory on April 15, with the global crypto market cap surging to $2.384 trillion. BTC price – April 16 | Source: Trading View However, following the $66,867 high yesterday, BTC witnessed a subsequent collapse, dropping to the higher spectrum of…

BitcoinMay 25

Ethereum (ETH) Hits New ATH: Details

Finally, Ethereum is reaching at least some kind of an ATH. Unfortunately, we have a problem here: it is not the price ATH. But one way or another, it is something, considering the dull performance the second-biggest cryptocurrency has been showing. But do not fret, the price might catch up in the future. What even is open interest? It is the total amount of open contracts for the asset, like futures or options. The surge of OI usually suggests the overall growth of interest in the asset on the market. But do not rush to buy it yet since it…

EthereumMay 25

Why Eigenlayer’s Airdrop Is Controversial

Users of the Ethereum restaking pioneer Eigenlayer, many of whom are about to be rewarded with a massive airdrop of a new EIGEN token, are voting with their dollars. In response to what some have called Eigen Labs’ overly complicated white paper and relatively limited rewards, users have withdrawn about 150,000 ether (ETH), worth about $457 million, from the platform. 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. Eigen Labs, which recently raised $100 million from venture capital…

AltcoinsMay 25

Why Did the SEC Suddenly Change Its Mind on Ethereum ETFs? An Inside Source Reveals the Real Reason

The US Securities and Exchange Commission (SEC) is reportedly on the verge of approving spot Ethereum exchange-traded funds (ETFs). This sudden change left companies trying to understand the SEC's change of attitude in a difficult situation. Just two weeks ago, the SEC showed no interest in the filings, according to a source familiar with the matter. However, on Monday, the SEC's trading and markets division notified exchanges that they would approve 19b-4s this week. This news coincides with reports from Barrons' SEC staff indicating a trend toward approval. The source described the situation as “completely unprecedented” and suggested that this…

LegalMay 25

Bitcoin ETFs Are Driving a Spot Multiplier Effect, Canaccord Says

The broker said that ETFs are driving additional demand for the underlying crypto itself. Sovereign wealth funds are already likely invested in bitcoin, Canaccord said. More companies could follow MicroStrategy’s lead and start acquiring bitcoin, the report said. While there has been a lot of noise about how much assets under management (AUM) bitcoin (BTC) exchange-traded funds (ETFs) are attracting, it is now becoming obvious that these ETFs are driving additional demand for the underlying cryptocurrency itself, broker Canaccord Genuity said in a research report on Monday. The broker held its 2024 Digital Assets Symposium last Thursday and hosted leaders…

BitcoinMay 25

Grayscale's Ethereum Trust discount narrows to 3-year low as ETF approval looms

Grayscale’s Ethereum Trust (ETHE) discount has shrunk to under 10%, its lowest level since 2021, amid growing expectations for approving a spot Ethereum exchange-traded fund (ETF). As of May 21, market data from YCharts shows the ETHE discount rate has narrowed to 6.66%. The “discount” indicates when ETHE shares trade below their net asset value (NAV). ETHE began trading at a discount in early 2021 after Grayscale halted redemptions, reaching nearly 60% in late 2022. However, it started to narrow in 2023 as Grayscale secured significant legal victories against the US Securities and Exchange Commission (SEC) in its bid to…

EthereumMay 25

What Will Be the Next Project to List on Binance Launchpool – 12 Candidate Altcoins Unveiled

Cryptocurrency research and development platform CryptoRank has announced the next candidates for the Launchpool projects that Binance has recently increased its frequency. In the company's opinion, LayerZero, Monad and Xterio are among the most important altcoins that can be launched through Binance Launchpool and put tokens on the market. LayerZero is known as an interoperability protocol, Monad is a layer 1 chain, and Xterio is a GameFi-themed token. Renzo (REZ), the latest project of Binance Launchpool, disappointed with its performance despite the popularity of the restaking theme, with its current market value of $ 191 million. The low supply allocated…

AltcoinsMay 25

Former Treasury Official Graham Steele Gets Pushback On FIT21 Take After DIFA Petition Criticism

Former U.S. Treasury official Graham Steele is receiving backlash after he took to X Monday morning to scrutinize support for the Financial Innovation and Technology for the 21st Century Act (FIT21) ahead of its likely vote on Wednesday. Steele’s X post came in response to a social media petition created by Digital Innovation For America (DIFA) supporting the bill, claiming that “the best way to fight Big Tech is with Blockchain technology.” X Users React After Graham Steele Shares Stance On DIFA FIT21 Petition Calling the written request “pretty sneaky,” Steele noted that the highly-anticipated crypto bill does not include…

LegalMay 25

Bitcoin Halving to Create Massive BTC Supply Shock: Samson Mow

Samson Mow, an early Bitcoin investor, head of the Jan3 BTC adoption-focused company, has published an X post where he revealed the when he expects the “Omega time” for the Bitcoin price to arrive. He also made several interesting remarks regarding the Bitcoin halving event which is expected later this week. Here's when "Omega time" comes: Samson Mow Bitcoin maximalist Samson Mow has tweeted that fear of certain negative developments in the Middle East caused a major Bitcoin price drop over the weekend, when the world’s leading cryptocurrency plunged by more than 13% and entered the $63,240 zone. Since then…

BitcoinMay 25