Author: NBTC

Blast launched its optimistic rollup late Thursday, fulfilling a pledge to allow users to withdraw funds locked in a team multisig for over three months. The value of user deposits crept up to nearly $2.3 billion by launch time. Now users have a choice: withdraw or find something to do with the funds on the newly launched layer-2. Data from DefiLlama early Friday showed that the balance of the Blast bridge contract had plummeted by about 70%, which CoinDesk reported as “$1.6 billion outflows.” The actual amount of withdrawals is not that clear-cut. Funds are moving out of the deposit…

Ethereum price is attempting a fresh increase above the $2,550 level. ETH could continue to move up unless there is a drop below the $2,525 support. Ethereum is attempting a fresh increase above the $2,520 level. The price is trading above $2,520 and the 100-hourly Simple Moving Average. There is a connecting bullish trend line forming with support at $2,540 on the hourly chart of ETH/USD (data feed via Kraken). The pair could continue to move up if it clears the $2,600 and $2,620 resistance levels. Ethereum Price Holds Support Ethereum price remained well-supported above the $2,450 level. ETH outperformed…

Chinese public game developer Linekong Interactive plans to purchase $6 million in Bitcoin and Ethereum. In a regulatory filing with the Stock Exchange of Hong Kong on Jan. 21, Linekong Interactive proposed a revision of its previously approved transaction to buy up to $5 million in Bitcoin (BTC) and Ethereum (ETH). Now, the Hong Kong-based game developer wants to increase that cap to $6 million, citing the rapid rise in crypto prices. “The company believes these revisions would provide flexibility to the board in capturing fleeting opportunities in the highly volatile cryptocurrency market.” Linekong Interactive You might also like: China…

The ERC-404 token sector is recording a significant decline after a week of rapid growth. According to Coingecko, the ERC-404 sector has significantly declined in the last 24 hours, with total market capitalization falling 33% to $163 million. Key tokens such as PANDORA have fallen over 24%, while DEFROG has declined 26%, and RUG in the red 31%. Source: Coingecko PANDORA, one of the most popular ERC-404 tokens, sank after a week of rapid growth. Over the past seven days, the coin has risen in price by almost 800%, to $14,743 at the time of writing. Source: Coingecko Pandora is…

The crypto market enthusiasts rejoice as the Bitcoin price surges past the $50,000 mark for the first time since December 2021, marking a significant milestone in its journey. Meanwhile, the rally comes amid a flurry of positive developments in the crypto space, signaling renewed investor interest and optimism. So, let’s delve into the key factors driving this surge and what it means for the future of digital assets. Why Is Bitcoin Price Rising? Bitcoin’s meteoric rise to $50,000 today can be largely attributed to the recent approval of Spot Bitcoin ETFs by the U.S. Securities and Exchange Commission (SEC), marking…

1inch, a leading DeFi (decentralized finance) platform, has unveiled an exclusive upgrade aimed at enhancing efficiency and reducing transaction costs for its users. The upgrade, which includes improvements for the 1inch Swap and limit order functionality, promises savings of up to 16 percent on transaction costs. Enhanced Efficiency and Streamlined Trading: 1inch Latest Innovations The upgrade introduces several key improvements. Firstly, 1inch’s swap router, renowned for its optimizations, has undergone further enhancements. The enhancements have resulted in reduced gas usage by up to 16% across common routes, particularly utilizing protocols such as Uniswap v2 and v3. Additionally, the upgraded Limit…

ETH surpasses $2,550 resistance, eyes $2,800 breakout for a potential uptrend toward $3,000. Ethereum daily transactions on the blockchain peaked at a three-year high of around 1.96M. In the wake of Bitcoin’s consolidation following the approval of ETFs, Ethereum (ETH) has emerged as a frontrunner in the crypto market, making notable strides with a 1.65% surge, currently trading at $2,567 with a market cap of $308 billion. The second largest cryptocurrency, ETH, is currently undergoing a corrective phase, marked by a recent sharp downturn evident in intraday time frames. Despite this, Ethereum has been striving to surpass its recent high…

China is facing renewed currency depreciation as the lingering threat of deflationary economic nosedive, and property market malaise has foreign investors pulling capital out of the country. The latest measures taken by Beijing to address the issue present a downside risk to bitcoin (BTC) through the foreign exchange channel, according to one observer. The tightly controlled Chinese yuan (CNY) has declined 1.39% against the U.S. dollar, with its offshore Hong Kong version, CNH, registering a 1.25% drop. China’s benchmark equity index, the Shanghai Composite, has dropped over 7% to its lowest since March 2020, according to data from the charting…

As Bitcoin (BTC) finally surpassed the critical psychological price mark at $50,000 for the first time since 2021 and continued up, close to $40 billion has flown into its market capitalization in the last day alone, bringing excitement all across the cryptocurrency sector. Indeed, Bitcoin’s market cap raced from $945.31 billion to $982.41 billion in a matter of 24 hours, which means it has added as much as $37.1 billion and grown by 3.93% during this period, according to the latest information retrieved from crypto market monitoring platform CoinMarketCapon February 13. Bitcoin price analysis Meanwhile, the maiden crypto asset was…

While the Bitcoin price has been consolidating largely post the ETF approval, Ethereum has been making strong moves upside, thereby closing the gap with BTC. At press time, the Ethereum price is trading 1.44% up at a price of $2,564 with a market cap of $308 billion. The Ethereum Price Dominance According to insights provided by on-chain data provider Santiment, Ethereum’s price dominance has experienced a notable surge against Bitcoin, marking a +22.4% increase over the past week. This period has witnessed the creation of 89.4K new Ethereum addresses per day, further underscoring the platform’s growing traction. Notably, a staggering…