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.

Hut 8 Cuts Mining Costs By 30% At New Salt Creek Facility

Publicly traded Bitcoin mining firm Hut 8 Corp announced on April 16 the initialization of self-mining operations at its new Salt Creek facility, only 78 days after breaking ground in the area. The Texas-based facility boasts a favourable energy profile, which is expected to reduce mining costs by 30% compared to the firm’s hosting facilities. Hut 8 Expands Its Mining Fleet The new site energization represents just one-third of the entire facility, charged with 63 megawatts (MW) of power in total. “With Salt Creek, we gain critical control over our miner fleet and operating costs as we head into the…

MiningApr 17

Bitcoin long traders still leveraged at over $40 billion notional value above $50k

The notional total of leveraged long Bitcoin derivatives traders still surpasses $40 billion even after the recent swathe of liquidations, according to data from Coinglass. Shorts are primarily above $71,000 and amount to around $12 billion in notional value. Total open interest in futures contracts comes to $35 billion, while options contracts hold $31 billion as of press time. The Coinglass Liquidation Heatmap below shows a color band representing a range of prices at which a certain amount of notional value is at risk of liquidation. As the colors progress from purple to yellow, they indicate increasing notional value and,…

BitcoinApr 17

Bitcoin mining stocks continue to slump ahead of halving

Bitcoin mining companies are facing a notable decrease in stock value in anticipation of the upcoming halving. Shares of Marathon Digital Holdings, Riot Platforms, and CleanSpark have declined for three consecutive days. Marathon Digital Holdings, the largest public Bitcoin miner, lost nearly 25% of its stock value in the past month, while Riot Platforms lost almost 30%. Additionally, the Valkyrie Bitcoin Miners exchange-traded fund has seen a reduction of about 28% in its value this month. The decline in stock prices continues against a backdrop of increasing short interest in cryptocurrency mining stocks and geopolitical tensions following recent conflicts between…

MiningApr 17

Despite Recent Dip, Bitcoin is an Asset to Hold for Decades, Not Days: CryptoCom CEO

The CEO of Crypto.com, Kris Marszalek, has emphasized the long-term perspective of holding Bitcoin (BTC) amid the market’s bearish volatility. In the last 24 hours, Bitcoin has significantly corrected some of the gains amassed over the past weeks of steady uptrend. According to CoinMarketCap statistics, BTC recently registered a 24-hour peak of $72,504. However, the asset has tanked by more than 10.47% to reach a low of $65,630 today. Bitcoin’s price collapse has had far-reaching implications for the broader crypto market, with Ethereum, XRP, and Cardano similarly recording significant downturns. Meanwhile, Crypto.com CEO Kris Marszalek believes the bearish market trend…

BitcoinApr 17

XRP Skyrockets 1,868% in Liquidations Amid Crypto Bloodbath

Amid a chaotic period for cryptocurrencies, XRP has emerged as a focal point of attention, experiencing a staggering surge in liquidations within a short span. Recent hours have witnessed an unprecedented increase in the liquidation of positions in XRP, as the broader crypto market grapples with substantial losses. CoinGlass data reveals a stark picture, with liquidations of XRP positions soaring to $986,530 in just the past four hours alone. Alarmingly, a staggering 99.38% of these liquidations represent long positions, indicating a significant exodus of bullish sentiment. The intensity of liquidations intensified further within the last hour, witnessing a notable spike…

AltcoinsApr 17

BTC Undergoes Massive Correction Below $70K, What’s Next?

Bitcoin’s price has finally corrected after weeks of aggressive rallying. It dropped by around 10% recently, leaving market participants wondering whether a deeper crash should be expected. Technical Analysis By TradingRage The Daily Chart Looking at the daily chart, the price has been rallying over the last few months, consistently making higher highs and lows. Yet, the $75K resistance level rejected Bitcoin lower, and the market is currently dropping below the $68K support level. Yet, there is still a significant support level available around the $60K mark to prevent a crash. Meanwhile, the Relative Strength Index has been showing a…

BitcoinApr 17

VeChain unveils new developer SDK to boost Web3 adoption

Vechain, based in San Marino, Europe, oversees VechainThor, a leading smart contract platform driving the real-world adoption of blockchain technology. The company unveiled its latest Software Development Kit (SDK) on April 8th. VeChain emphasized that the SDK aimed to facilitate its global shift toward Web3. The company’s developer framework has seen significant advancements due to the dedicated efforts of its Technology Centre team. Whether users are enterprise clients or Web3 enthusiasts, a robust SDK can greatly streamline the development process, making it seamless and efficient. The toolkit includes references to VeChainThor versions of popular Ethereum tools, establishing a user-friendly environment…

AltcoinsApr 17

HSBC Looks To Broaden Tokenized Asset Offerings after Gold Token Launch

HSBC, one of the world’s largest banking services, intends to broaden its array of tokenized assets. CEO Noel Quinn said the bank will ensure these offerings are firmly anchored in reality, the South China Morning Post reported Monday. However, the bank intends to steer clear of volatile cryptocurrencies in tokenizing assets. During a roundtable discussion held last week in Hong Kong, Quinn reportedly said tokenization has the potential to encompass a wide range of assets. But his primary focus remains on ensuring the underlying value of the token itself. Tokenization of digital assets involves transforming the ownership rights of a…

BlockchainApr 17

"Bears are getting stronger in Bitcoin! The decline in BTC may continue to this level! "

The leading cryptocurrency, Bitcoin (BTC), gave back its gains in the last week with the correction it experienced in the last 24 hours, falling from $ 73,000 to $ 65,800. Similar declines were experienced in Ethereum (ETH), BNB and XRP, while meme tokens Dogecoin (DOGE) and Shiba Inu (SHIB), which have been popular recently, also fell. While analysts stated that the selling pressure was behind these decreases, they said that the February PPI data coming in above expectations doubled the rate of decline. At this point, analysts are also divided. While some analysts think that the correction will be short-lived,…

BitcoinApr 17

Truflation launches Stream Network with TRUF token, democratizing economic data

Truflation delivers the Truflation Stream Network, booted by its conventional token, TRUF, accessible on prime international exchanges such as MEXC, Gate.io, and KuCoin. This will pave the way for democratizing finance and offering connectivity with on-chain financial and economic data. The TRUF token acts as an economic base for Trueflation’s ecosystem, along with the Truflation Stream Network (TSN), created to incorporate real-world economic data within decentralized finance applications. Being an ERC-20 token on the Ethereum blockchain, TRUF initiates data provider node operation, data offering, data usage, and governance. Holders of tokens can take part in governance via staking and locking…

AltcoinsApr 17