Author: NBTC

Major cryptocurrencies began the week lower as investors continued to be concerned about the Bitcoin price drop, thus seemingly reducing their exposure to the broader market in expectation of lower pricing. Ethereum, the second-largest cryptocurrency by market value, fell 2.66% in the last 24 hours to $2,408, mirroring the overall market trend. Since reaching a high of $2717 on Jan. 12, Ethereum has steadily declined, bringing it to a crucial demand zone that remains decisive for its short-term price action. According to Ali, a crypto analyst, ETH is currently in a key demand zone, ranging between $2,388 and $2,460. If…

Axiom, a protocol that allows smart contract developers to access historical data from Ethereum and then perform intensive computations off-chain, has raised $20 million in a Series A funding round led by Standard Crypto and Paradigm Ventures. The funding will go towards growing the team as well as developing their platform, according to a draft blog post sent to CoinDesk. “We’re really focused on helping the smart contract developers access this new primitive and plug it into their applications in a native way,” said Yi Sun, the co-founder of Axiom, in an interview with CoinDesk. Axiom is among a new…

The Litecoin blockchain network continues to boost network relevance through partnerships. Litecoin (LTC) bulls are leading the altcoin rally. The Litecoin Blockchain, like many of its peers, is strengthening its position, along with the entire Litecoin ecosystem with external partnerships. Over the years, blockchain networks have tapped multiple organizations to kickstart a long-term partnership poised to deliver lasting results to both parties. The Litecoin blockchain is one such platform that has adopted this practice, with a core focus on merging the traditional market with cryptocurrency industries. A deep dive into Litecoin’s partnership track record spotlights the significance of the collaboration…

On Tuesday, the price of Bitcoin (BTC) experienced a modest decline following the release of January’s consumer price index (CPI) inflation data by the U.S. Bureau of Labor Statistics. The CPI figure of 3.1% exceeded street expectations, which anticipated a rate of 2.9%. Consequently, Wall Street witnessed a significant downturn, with the S&P 500 Index plunging by 1.4%. This marked the S&P 500’s weakest performance on a CPI release day since September 2022. Bitcoin (BTC) Price Holds Firm Bitcoin demonstrated notable resilience amidst turbulent global markets triggered by a robust US inflation report. This has further dampened the expectations of…

Ethereum price prediction indicates a bullish trend in the cryptocurrency market. Currently priced at $2,281, Ethereum has experienced a slight dip of 0.41% in the past day. Despite this minor decrease, the currency has shown remarkable resilience, maintaining a value above $2,200 in recent months. This pattern demonstrates a strong bullish inclination among investors. Ethereum has witnessed a significant rise of over 46% in the past year, an indicator of increasing investor interest. The last 24 hours have been particularly optimistic for Ethereum, with its trading volume soaring to $9.29 billion. This surge points to a heightened bullish sentiment, suggesting…

Crypto firms are attracting top talents from the traditional financial sector in droves thanks to higher salaries and the prestige of working in the emerging industry. A Bitget report shared with CryptoSlate showed that one-third of applicants for crypto positions have a background in banking and traditional finance. “33% of the exchange job applicants previously worked in banking…23% of [these] candidates apply for KYC Manager, Compliance Associate, Senior Compliance Associate, and AML Analyst,” Bitget stated. The influx of these financial professionals into the crypto space gained momentum within the past year as the value of digital assets surged. This trend…

Panos Mekras, a blockchain advisor focused on the XRP Ledger (XRPL) and the founder of Anodos Finance, recently shared what he thinks is the only way the XRPL ecosystem could succeed. Mekras’ remarks come at a time when the XRPL community has continued to lament the slow growth of the blockchain ecosystem and the underperformance of XRP, its native token. More particularly, these complaints have focused on the lack of smart contracts on the network. In addition, the ecosystem has also not witnessed as many builders as other relatively newer chains like Solana and Ethereum despite boasting over 1,500 projects…

Hunter Horsley, the Chief Executive Officer (CEO) of crypto index fund manager, Bitwise, has stayed highly optimistic about the Bitcoin bullish outlook, predicting that the cryptocurrency will witness a rise to $250,000 sooner than most think. BTC’S Road To $250,000 In a recent X (formerly Twitter) post on Wednesday, Horsley made a bold prediction about Bitcoin, foreseeing the cryptocurrency rising to new all-time highs never seen before. The CEO has stated that BTC could reach $250,000, jumping over four times its current price above $62,000.  Furthermore, Horsley has expressed his belief that BTC could rival gold in the future. He anticipates that…

The dollar-valued locked-in open futures and perpetual futures contracts have topped the $21 billion mark for the first time since November 2021. Still, the overall leverage in the market remains low, indicating low odds of sudden liquidations-induced price volatility. The notional open interest, or the dollar value locked in the number of open or active bitcoin (BTC) futures contracts, has risen to a 26-month high, according to CoinGlass. As of writing, open interest in perpetuals and standard futures stood at over $21 billion, with bitcoin trading at $49,570 in the spot market. The open interest tally has increased 22% this…

In the recent market developments, Ethereum showcased a remarkable upswing, surging to a yearly high of $2717. However, this ascent was met with considerable selling pressure, prompting a slight retracement and setting the stage for a potential short-term consolidation correction. By Shayan Ethereum Price Analysis: The Daily Chart A thorough examination of Ethereum’s daily chart uncovers a significant recent surge, with the price reaching a yearly peak of $2.7K. Simultaneously, ETH has emerged within an ascending expanding wedge pattern, identifiable by the orange lines. This pattern holds the potential for a bearish reversal, contingent upon the price breaking below the…