Author: NBTC

ALGO, a cryptocurrency backed by Algorand Technologies, appears to have garnered noteworthy interest among crypto market enthusiasts today following a sudden jump in the token’s price, rising 1.92% over the past 24 hours, reaching $0.1716. As per market charts unveiled by the crypto platform CoinMarketCap, the token’s trading volume and market cap also jumped 23.24% and 1.88%, respectively. Here’s a list of potential reasons why the ALGO token price is up today. ALGO Derivatives Data Mirrors Price Jump According to the data offered by Coinglass, a futures trading and information platform, the ALGO token’s open interest recently noted a slight…

The U.S. Securities and Exchange Commission (SEC) officially approved applications for 11 issuers seeking to launch Spot Bitcoin Exchange-Traded Funds (ETFs) on January 10, 2024. Following the announcement, Bitcoin’s price experienced a rollercoaster ride, demonstrating the market’s sensitivity to regulatory decisions. The immediate response saw Bitcoin surge to $48,000, reflecting bullish sentiment in anticipation of increased institutional participation and mainstream adoption of the cryptocurrency. However, this bullish momentum was short-lived, as the market quickly reacted to a fake announcement, causing a rapid drop to $45,000. The incident highlighted the cryptocurrency market’s susceptibility to misinformation and the importance of verifying news…

A Russian senator has claimed the nation’s Central Bank is “turning a blind eye” to firms that use crypto as a payment tool in international trade. Russia’s CoinSpot quoted Ivan Abramov, the First Deputy Chairman of the Federation Council Committee on Economic Policy, as calling for regulation. Abramov told reporters: “Cryptocurrency is […] being used in [cross-border] settlements, but the Central Bank pretends that it has no knowledge of such transactions. It would be better to regulate [the crypto sector] and set out certain rules for [the industry].” Mainstream Russian media outlets such as Izvestia have reported a rise in…

A nonprofit organization that supports the dYdX protocol has secured 30 million in DYDX ($86 million) from the dYdX community treasury following the latest DAO vote. The dYdX Foundation is a Swiss entity designed to support the growth of the dYdX protocol ecosystem through community and developer engagement, and also maintaining decentralized governance. This latest fundraise will be used by the foundation to hire and retain talent, while simultaneously scaling the dYdX chain. In an interview with Blockworks, David Gogel, the vice president of strategy and operations at the dYdX Foundation, said this latest community fundraise comes after two and…

The leading cryptocurrency, Bitcoin, erased the traces of the correction it experienced after the spot ETF approval and reached over $ 49,000 today. Although this rise pleases investors, expectations for further rallies continue. At this point, investment company Bernstein analysts stated that further rises will come in Bitcoin. Stating that ETFs will increase the Bitcoin price, analysts said that the ETF-focused market will create FOMO in investors and therefore they believe that Bitcoin’s strongest period has not yet come. Emphasizing that Bitcoin ETFs and inflows are increasingly affecting the Bitcoin price, analysts underlined that BTC is in a good position…

The Bitcoin (BTC) network registered the most non-fungible token (NFT) sales in the past week, as overall transactions totaled a staggering $423,004,860. The sales mark an increase of more than 32% compared to the preceding week and signifies the third consecutive week of robust growth in the NFT market. According to data compiled by Cryptoslam.io, Bitcoin emerged as the dominant force in NFT transactions, leading the charge with $160.37 million in sales, representing a remarkable surge of 80.45%. Ethereum (ETH) closely trailed behind, with $159.64 million in transactions, marking a respectable 14.41% uptick in ETH-based NFT sales. Other notable blockchains,…

Vanguard’s decision to not allow the trade of Bitcoin ETFs on its platform had kept the entire crypto community on its toes. However, Bloomberg analyst believes that the current backlash won’t make any difference in the company’s inflow of funds. Vanguard marks heavy fund inflows According to Bloomberg analyst Eric Balchunas, Vanguard ETFs have bought around $5 billion in funds in the past five days. Commenting on this huge number Balchunas took to platform X expressing his standpoint. Giving a context, he said that an inflow of funds nearing $5 billion is the prediction for all the nine new Bitcoin…

The cryptocurrency community witnessed a whale transaction involving the whale with short address 0xb7f depositing all 619.86 million JASMY tokens (equivalent to $3.63 million) to Coinbase. The deposit was made at a price of $0.0059 per token. At the time of writing this article, JASMY price is trading at $0.005793. This particular whale had previously purchased JASMY tokens between July 15 and October 26, 2022, and again on January 9, 2023, at an average price of $0.00591. After patiently holding these tokens for 2 years, Whale finally decided to break this agreement. Meanwhile, the JASMY token gained a remarkable 11.93%…

Bitcoin touched the $49,000 on Feb. 12, reclaiming the price levels it hit after the historic approval of spot Exchange-Traded Funds (ETFs) related to the flagship crypto at the start of January. The flagship crypto was trading at $49,725 as of press time, according to CryptoSlate data. Bitcoin surged as U.S. markets opened for trading, erasing the 20% drop following the ETF approvals as traders executed a “buy the rumor, sell the news” event, and whales began taking profit on their holdings from the 160% rise over 2023. New ATH Analysts and experts are pointing to a surge to $50,000…

Ethereum continues to assert its dominance, proving to investors and enthusiasts why it reigns supreme among altcoins. The recent price action of Ethereum paints a bullish narrative, with potential signals pointing toward an ongoing growth cycle that could redefine its market stature. Ethereum’s market movement has been extremely dominant following the approval of the Bitcoin ETF, with the asset recently piercing through significant resistance levels. After a sustained period above the 50-day and 100-day EMAs, ETH has shown formidable strength. Currently, Ethereum’s price hovers around $2,600, with the immediate resistance level now likely forming near the $2,700 mark, a point…