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.

Ethereum

Ethereum Funding Rates Turn Deep Red, What Does It Mean?

By NBTC25/09/2023

Data shows the Ethereum funding rates have been quite negative in recent days. Here’s what this could mean for the cryptocurrency’s price. Ethereum Funding Rates Have Been Under The Zero Mark Recently As explained by an analyst in a CryptoQuant post, a short squeeze may be a possibility for the asset currently. The “funding rate” is an indicator that keeps track of the periodic fees that traders on the futures market are exchanging with each other. When the value of this metric is positive, it means that the long contract holders are paying a premium to the short holders right…

Ethereum

Number Of Ethereum Addresses Losing Money Just Reached A New All-Time High

By NBTC25/09/2023

Ethereum holders have been subject to uncertainty over the last few months as bulls and bears have struggled for control. With the bears winning at a much higher rate than the bulls, Ethereum holders have found their holdings have continued to lose value. This time around, the plunge has sent the number of investors losing money to a new all-time high. Number Of Ethereum Addresses In Loss At ATH On-chain data tracker Glassnode Alerts on X (formerly Twitter) has revealed a shocking development regarding Ethereum addresses. According to the tracker, the number of addresses seeing losses on a 7-day moving…

Bitcoin

Crypto Analyst Says Prepare For 100% Increase In Bitcoin Price As Historical Pattern Forms

By NBTC25/09/2023

Last week was a quiet one for Bitcoin, as the US dollar continues to gain ground in the foreign exchange market. Price action, in particular, has had Bitcoin breaking below the $26,500 support, indicating a potential risk of more losses below the $26,000 support in the near term. Some analysts, however, are still betting on a new Bitcoin bull run in the near future. According to crypto analyst “Titan of Crypto”, the Bitcoin price is poised for a huge surge over the next year that could see it double in value or more. Crypto Analyst Predicts 100% Bitcoin Price Increase…

Bitcoin

Will Bitcoin Drop To $20k? EURUSD Correlation Indicates It Might

By NBTC25/09/2023

In recent discussions surrounding Bitcoin (BTC) and its potential future price trajectory, crypto-enthusiasts and analysts alike are finding new correlations to dissect. Most notably, a correlation with the EURUSD pair (the euro against the US dollar) has come into the spotlight due to a Twitter thread by esteemed analyst Josh Olszewicz. Olszewicz begins by setting the stage, drawing attention to the widely acknowledged inverse correlation between Bitcoin and the DXY (US Dollar Index). He notes, “Most are aware of the strong historic BTC-DXY inverse correlation. DXY is a USD index against a basket of currencies which has a EURUSD weighting…

Ethereum

Ethereum Founder Vitalik Buterin Reveals The Challenges Of The Network

By NBTC25/09/2023

The Ethereum blockchain is notable for its smart contract functionality and various other things. However, many might not be conversant with the challenges the network encounters. In a recent interview, Ethereum’s founder, Vitalik Buterin, revealed the biggest of them all. Ethereum’s Biggest Challenge Speaking with CNBC, Buterin mentioned that the biggest challenge that the “Ethereum ecosystem” faces is ensuring that it builds products that provide value to its users. According to him, the last decade was test-running, but now Ethereum needs to provide utility. Ethereum is known to host some of the biggest decentralized applications (dApps), including prominent decentralized exchanges…

Regulation

Australian Financial Regulator Sues Kraken Subsidiary for Allegedly Violating Margin Trading Regulations

By NBTC24/09/2023

Australia’s monetary regulator has launched a civil lawsuit towards a subsidiary of the crypto change Kraken for allegedly failing to adjust to laws for its margin buying and selling product. The Australian Securities and Investments Fee (ASIC) alleges that Bit Commerce, Kraken’s arm of operations within the nation, didn’t make a “goal market willpower” for its margin product earlier than providing it to shoppers as required by legislation. The Australian authorities says a goal market willpower is a doc “which describes the kind of clients who a product is suitable for, primarily based on their doubtless wants, goals and monetary…

Ethereum

Bitwise Withdraws Application, A Big Blow To Ethereum ETFs?

By NBTC23/09/2023

In a recent development, asset manager Bitwise has withdrawn its application to transform its existing Bitcoin futures ETF (Bitwise Bitcoin Strategy Optimum Roll ETF) to one that invests in both Bitcoin and Ethereum futures contracts. This has raised speculations about the reason for this decision and what it means for the Ethereum futures ETFs projected to launch in October. Why Bitwise Withdrew Its Application Reporting this development on his X (formerly Twitter) platform, Bloomberg Analyst James Seyffart stated that the asset manager has chosen to maintain only its Bitcoin exposure following this move. Many were more concerned about the reason…

Bitcoin

Analyst Backs Bitcoin To Reach $34,500 In 2024 In New Prediction

By NBTC23/09/2023

Bitcoin (BTC) has experienced little price movement this week and is up by only 0.25% in seven days, according to data from CoinMarketCap. Following the announcement on Wednesday that federal interest rates will remain at their current level, the premier cryptocurrency showed the expected reaction, maintaining its price above $27,000. However, over the last two days, Bitcoin has witnessed a slight price decline of 2%. As the most-priced blockchain asset now hovers around $26,500, crypto analyst Captain Faibik has predicted an incoming bullish run, which may see BTC close out 2023 with impressive gains. Analyst Says Bitcoin Is Poised For…

Metaverse

Upland and KABOOM! Unite to Address Playspace Inequity

By NBTC22/09/2023

Upland, a Web3 Metaverse SuperApp, has not too long ago introduced a partnership with KABOOM!, a nationwide nonprofit dedicated to ending playspace inequity. The alliance was impressed by UCC Dak, an Upland participant and host of “Perpetual Good within the Metaverse” on Twitter. UCC Dak advocates for utilizing Web3 know-how and user-generated content material to positively affect the bodily world. These efforts goal to generate new revenue sources, open up markets, and introduce new generations to organizations with a mission-driven focus. According to UCC Dak’s method to Web3, Upland and KABOOM! are collaborating to supply a sale of 5 NFT…

Ethereum

Ethereum Whales Unfazed By Prices, Pulls $8.1 Million Of ETH From Binance And Buys NFTs

By NBTC22/09/2023

Ethereum is under pressure and has just dropped below $1,600. However, on-chain data shows that a crypto whale, “0xb154”, has moved more coins from Binance, a cryptocurrency exchange, to a non-custodial wallet. On September 21, the ETH whale transferred over $8.1 million of the coin. ETH whale moves funds to Binance| Source: Scopescan Whale Moves More Ethereum From Binance, Buying NFTs When crypto prices contract, outflows from non-custodial wallets to centralized ramps, including Binance and Coinbase, tend to rise. This is because centralized exchanges supporting stablecoins or fiat, including the Euro or JPY, offer an interface where they can easily…