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.

90% of Crypto Trades Handled by Just 10 Exchanges, ESMA Warns

In a comprehensive analysis of the cryptocurrency market, the European Securities and Markets Authority (ESMA) has revealed the highly concentrated nature of crypto trading and the potential risks it poses to the broader financial ecosystem. The report, released on Wednesday, comes as the European Union prepares to implement the world's first extensive regulatory framework for cryptoassets, dubbed MiCA. According to ESMA's findings, a mere ten exchanges handle approximately 90% of all cryptocurrency trades, with Binance, the largest exchange, accounting for an astonishing 50% of the market. The recent Finance Magnates Intelligence study confirms the market watchdog data, showing the increasing…

ExchangesApr 11

Ether Spot ETFs Still Have No More Than 50% Chance of Approval in May: JPMorgan

JPM says the odds of a spot ether ETF approval in May are still no more than 50%. There will likely be litigation against the SEC if the regulator doesn’t approve the products in May, the report said. Spot ether ETFs will eventually be approved, the bank said. Recent news that the U.S. Securities and Exchange Commission (SEC) is investigating companies associated with the Ethereum Foundation is consistent with the view that there is no more than a 50% chance of spot ether (ETH) exchange-traded fund (ETF) approval in May, JPMorgan (JPM) said in a research report on Thursday. The…

EthereumApr 11

US economist predicts Bitcoin’s ‘catastrophic crash’ due to ETFs

With the larger part of the cryptocurrency market flashing red after a period of exceptional bullishness, Bitcoin (BTC) is leading the trend, and one of its most famous critics, Peter Schiff, has warned about the possibility of its catastrophic crash due to the spot exchange-traded funds (ETFs). Indeed, the prominent Bitcoin skeptic has voiced his opinion that the more of the flagship decentralized finance (DeFi) asset enters into ETFs, the more vulnerable it will become to a “catastrophic crash,” according to his post on the social media platform X shared on March 18. As Schiff explained, this is because “ETF…

BitcoinApr 11

Shiba Inu Army Makes Strong Showing at NFT.NYC 2024: Details

The recently concluded NFT.NYC event saw a strong presence from the Shiba Inu Army, with a range of NFT community projects emphasizing SHIB’s impact in the NFT realm. The Shiba Inu team dedicated a section of its latest SHIB Magazine publication to extolling the SHIB Army’s representation in the 2024 edition of the NFT.NYC event. It emphasized that several community members are leading the charge in NFT, as evidenced by their recent participation in the New York City NFT event. Among those present were notable Shiba Inu NFT projects such as AIRian, Tutti Frutti Women (TFW), Shib CoOp, and ShibaPunkz.…

NFTApr 11

Bitget Exchange Sees Substantial Growth in Q1 2024

Volume Surpasses $1.6 Trillion Amid Crypto Bull Market Bitget, a cryptocurrency exchange, has reported impressive growth in the first quarter of 2024, with futures and spot volume exceeding $1.4 trillion and $160 billion, respectively. This marks a significant increase from Q1 2023, where futures trading volume was $658 billion and spot trading volume was $59 billion. Expanding User Base and Product Offerings The exchange now boasts over 25 million users across its trading platform and Web3 wallet. The first quarter saw several key developments in the crypto market, including a robust recovery in February, with Bitcoin reaching unprecedented highs. The…

ExchangesApr 11

Altcoins bleed as Bitcoin dives 7% to lows of $62k

Bitcoin price tanked more than 7% on Tuesday morning as the bloodbath across the crypto market pushed altcoins deep into correction territory. BTC reached lows of $62,438 as bears threatened to plunge prices to the $60k level. BTC price near key level as alts bleed As the benchmark cryptocurrency struggled, altcoin bloodbath also intensified. Ethereum, Solana, BNB, Cardano and Avalanche all fell double digits, with ETH dipping to $3,200, SOL to $172 and BNB to $502. Cardano and Avalanche dropped to $0.59 and $55 respectively. According to data from Coinglass, a total of 242,841 traders had been liquidated in the…

BitcoinApr 11

Adidas Quietly Secures New Crypto Deal: Details

According to a recent report by Axios, German athletic apparel and footwear corporation Adidas has inked a new cryptocurrency partnership with Crypto: The Game. Crypto: The Game is an internet survivor game that allows participants to compete for a pot of pooled ETH. The second season of the game wrapped up its public mint in early April, with 800 players joining the challenge. Those who volunteered to take part in the game had to purchase a non-fungible token (NFT) for 0.1 ETH (roughly $350 at current prices). The game is powered by Base, Coinbase's layer-2 network that was launched back…

NFTApr 11

Coinbase Makes Major Announcement on Dogecoin (DOGE) Listing

A month ago, Coinbase Derivatives filed certificates with the Commodity Futures Trading Commission (CFTC) to list regulated futures on Dogecoin (DOGE), Litecoin (LTC) and Bitcoin Cash (BCH). Today, it was confirmed that the exchange has successfully launched BCH and LTC futures contracts, with DOGE set to follow later this month. This development positions Coinbase as the first CFTC-regulated exchange to offer margined futures contracts for these cryptocurrencies. The futures contracts, sized at 1 BCH, 5 LTC and 5000 DOGE, aim to provide traders with enhanced trading opportunities and a more inclusive trading environment on the market. By introducing these additional…

ExchangesApr 11

Here's Why Bitcoin (BTC) Is Dropping: Top Binance Trader Explains

Bitcoin is on a downswing that not many anticipated. A top trader from Binance sheds light on this trend, suggesting it is about market behavior. When Bitcoin's price climbs, many traders move away from the usual spots at which they buy and sell. Instead, they chase after trending coins, which often change daily, by using borrowed money to bet on these coins - specifically hyper-volatile meme coins. What's behind Bitcoin price dip The idea is, when Bitcoin and similar big-name cryptos go up in price, people get excited about making quick profits. So, they rush to invest in smaller, more…

BitcoinApr 11

No outflows for Bitcoin Newborn Nine ETFs as Grayscale forces $154 million net outflow

Bitcoin exchange-traded funds experienced a net outflow of $154 million on March 18, according to data from Bitmex Research. This marks the first outflow day since March 1, breaking a streak of consistent inflows. The outflow represents 2,229 BTC, based on the market reference rate. Grayscale’s GBTC product accounted for the entirety of the outflows at $642.5 million, while most other providers saw modest inflows. BlackRock’s IBIT saw the largest inflows at $451.5 million. Fidelity FBTC had its worst-performing day to date with just $5.9 million in inflow. However, a lack of any outflows from the Newborn Nine is a…

BitcoinApr 11