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.

Bitcoin leverage again flushed at US Market Open as inflation rises missing estimates

In the wake of new inflation data, the crypto market experienced $164.52M in liquidations over the past 12 hours, with $119.88M in long positions and $44.64M in short positions being flushed out. Bitcoin accounted for $48.31M of the total liquidations. The US Market Open again seemed to be a bigger catalyst than inflation data as the open saw another leverage sweep, aligning with yesterday’s analysis of crypto leverage. Bitcoin rose by 1 % to create a new all-time high of $72,940, followed by a decline to $70,900 before returning to around $71,880 as of press time. The US annual inflation…

BitcoinApr 23

Dogwifhat Down Double-Digits as Meme Coins Retrace Last Week's Gains

While the broader crypto market trades flat, meme coins have had a torrid time of it today, as they retrace from recent peaks. Solana-based Dogwifhat (WIF) dropped double-digits overnight, as it continued to slip from an all-time high set on March 31st. The cryptocurrency is currently down 15.9% on the day and 10.4% on the week, trading at $3.26, per data from CoinGecko. Other dog-themed coins have slipped over the past day, with Dogecoin (DOGE) down 4.9%, Floki Inu (FLOKI) down 6.4% and BONK down 5%. Of the canine coin category, only Shiba Inu (SHIB) is trading flat on the…

AltcoinsApr 23

Vitalik Buterin Has Over $1 Million Stuck in the Optimism Bridge

Vitalik Buterin, the co-founder of Ethereum, reportedly has over $1 million trapped in the Optimism bridge. This revelation comes from a broader examination by Arkham, a blockchain intelligence firm, which disclosed that numerous crypto addresses have substantial amounts lodged in bridge contracts across different networks. Cross-Chain Challenges: Ethereum Wallets Grapple With Locked Assets A wallet address that received 50 Ethereum (ETH) from Buterin’s identifiable Ethereum Name Service (ENS) address vitalik.eth, has seen $1.05 immobile for the past seven months. If genuinely linked to Buterin, these funds represent merely a sliver of his vast $781 million cryptocurrency holdings. Arkham’s investigation revealed…

BlockchainApr 23

Massive Transfer of Bitcoin Wealth Underway As Investor Sentiment Edges Closer to Euphoria: Analytics Firm Glassnode

Top analytics firm Glassnode says that a transfer of wealth is occurring within Bitcoin (BTC) as coins move from long-term holders to new speculators attempting to trade the current bull market. In a new report, Glassnode says that as Bitcoin breaks another all-time high, speculators have arrived to open leveraged futures positions, often buying their BTC from longer-term HODLers who have been holding since the bear market. Glassnode calls it a “classic wealth transfer” from the HODLer cohort to speculators. The firm shares a chart suggesting that bull markets tend to peak when young coins, or coins that have been…

BitcoinApr 23

Best Staking Rates with Liquid Staking Derivatives

Executive Summary: After the successful conclusion of the Merge and the removal of lock-up periods, interest in Ethereum staking is increasing rapidly. But staking comes at the cost of liquidity. Platforms that offer liquid staking derivative (LSD) tokens combine the best of both worlds – passive income from staking rewards combined with the freedom to trade and invest staked ETH on DEXs and DeFi platforms through derivative tokens. LSD tokens come in different designs and architectures – rebasing contracts, non-rebasing tokens, single tokens, and dual-token models are the primary examples. Investors must learn about the pros and cons of each…

DeFiApr 23

This Altcoin Diverged Positively From Bitcoin, Ranked At The Top With Its 30 Percent Rise! Here is the reason for the rise!

Bitcoin, the leading cryptocurrency, is trying to recover the losses it suffered while falling to $ 64,000 levels at the beginning of April. At this point, while BTC reached $ 69,000 again last night, some altcoins also differentiate positively from the market with the rise they experienced. One of these altcoins was Pendle (PENDLE), while the PENDLE price increased by approximately 30% and attracted attention amid the fluctuations in the crypto market. With this rise, PENDLE ranked at the top among the altcoins that gained the most in the last 24 hours. While the main reason for the increase in…

AltcoinsApr 23

why altcoins follow BTC’s lead

Bitcoin (BTC) has hit another all-time high, its third since March, and the altcoin market is growing alongside it. Why does this happen? From the onset of the cryptocurrency era, Bitcoin was synonymous with “cryptocurrency” due to the absence of other digital currencies. Over time, though, thousands of new blockchain projects have emerged, each with unique applications. Despite this diversity, Bitcoin continues to be the dominant force, influencing market trends across the cryptocurrency spectrum. This article delves into why and how altcoins are so closely tied to Bitcoin’s market movements. You might also like: Bitcoin traders move $520m as BTC…

BitcoinApr 23

Scallop Strikes Major Deal with DWF Labs to Turbocharge DeFi Expansion

Scallop, a pioneering Next Generation peer-to-peer Money Market for the Sui ecosystem, has announced a significant milestone in its journey. The platform has secured a strategic partnership with DWF Labs, a leading new generation Web3 investor and one of the world’s largest high-frequency cryptocurrency trading entities. This collaboration signifies a major step forward for Scallop, as it aims to enhance its efforts in expanding DeFi adoption. Looking forward to a great partnership 🤝🎉 https://t.co/L5NjGFQhjW — DWF Labs (@DWFLabs) April 22, 2024 Enhanced Liquidity and Market Visibility As part of the partnership, DWF Labs will act as Scallop’s principal liquidity provider…

DeFiApr 23

Voting For SingularityNET, Fetch.AI And Ocean Protocol Token Merger Has Begun

In developments following SingularityNET, Fetch.AI and Ocean Protocol’s token merger plans, SingularityNET recently highlighted another achievement. According to a post published by the SingularityNET community on X, voting for this merger is now available for AGIX token holders on Cardano and Ethereum. Fetch.AI has started voting sessions, according to a post on X. SingularityNET, Fetch.AI and Ocean Protocol recently announced the formation of the Artificial Superintelligence Alliance. With plans to merge the native tokens of their AGIX, FET and OCEAN ecosystems into the ASI token, these AI projects have created a frenzy in the crypto space. The fully diluted value…

AltcoinsApr 23

Bitcoin Price Tops $73,000 Ahead of Halving, But Then Plunges

Bitcoin continues to push to previously unseen price levels, rising above $73,000 for the first time ever on Tuesday. But as with other recent peaks, the price dipped quickly thereafter. According to data from crypto exchange Coinbase, the price of Bitcoin popped as high as $73,027 on Tuesday morning, beating the platform’s previous high of $72,702 on Monday. Last week, Bitcoin beat its previous all-time high when the price of BTC surged above $69,000 on Tuesday. Bitcoin is dipping again, falling quickly after setting that new peak above $73,000 and then dropping even lower to $68,603, according to Coinbase. It’s…

BitcoinApr 23