Analysis Crypto by Thebittimes.Com

The non-fungible token market, which was blossoming at the start of the year, has suffered another rough quarter. The NFT market started the year bullish, with its trading sales volume reaching $4.1 billion in Q1 2024. Unfortunately, the NFT market started developing cracks a month later, with trading sales volume flipping to $2.25 billion in Q2 2024 after the market hype that fueled its resurgence faded. Data compiled by Tiexo.com, an on-chain non-fungible token collection explorer and an analytic hub, shows that the global non-fungible token market has plunged again in sales in Q3 2024. In the past 90 days, the global NFT market has attracted a trading sales volume of just $1.12 billion, representing a 50% plunge from the previous quarter. This is the second time the NFT market has dropped quarter-over-quarter. NFT Market Sees A Downward Momentum In 2024 The NFT market started the new year healthy and significantly surged in traction, reaching $4.1 billion in Q1 2024. In February ...

New data from tokenomics insights firm Token Unlocks reveals that billions of dollars worth of crypto assets are expected to pour into markets in October. In a new thread on the social media platform X, the market intelligence platform says that $3.46 billion worth of digital assets are scheduled to be unlocked next month, including modular blockchain Celestia (TIA), artificial intelligence token Worldcoin (WLD) and smart contract platform Solana (SOL). “Uptober is just around the corner. Stay Informed, not FOMO (fear of missing out)-driven. With $3.46 billion in token unlocks scheduled for the month, it’s essential to keep a close eye on the market. Key unlocks include: $1.12 billion TIA, $336.31 million WLD, $360.8 million SOL, [and] $1.65 billion of other tokens.” Source: Token Unlocks/X According to the firm’s data, the biggest week in crypto in terms of token unlocks for the rest of the year will be between October 28th and November...

Crypto liquidations rose to over $200 million in 24 hours as Bitcoin (ETH) and Ethereum (ETH) dipped. Analysts are however bullish on BTC price as September looks poised to end on a green note. The crypto market saw over $200 million in crypto liquidations as Bitcoin slipped to near $64k amid fresh bear moves. According to data from Coinglass, the cryptocurrency market saw total liquidations in the past 24 hours surge by 128% to more than $200 million. This came as Bitcoin (BTC) fell 4% to near $63,100 on September 30.   24-hour liquidations Having posted a significantly better performance in September contrary to expectation with a spike to $66k, BTC retreated sharply to pull most altcoins lower. With Ethereum (ETH) also dumping to under $2.6k amid latest selling from the Ethereum Foundation, total longs rekt soared to $164 million. Shorts accounted for about $37 million in 24-hour liquidations at the time of writing. Crypto liquidation represen...

The Dogecoin (DOGE) market started the week poorly. The OG meme cryptocurrency dipped by more than 5% over the past 24 hours. The bears disrupted the asset’s surge to $0.13. At press time, DOGE was trading at $0.12. This, however, comes as a surprise to the market, considering its prominent price surge over the past week. DOGE was up by over 12% throughout the last seven days. Also Read: Forex: Weak US Dollar Is Strengthening Bitcoin:Oct-Dec BTC Analysis Dogecoin’s Recent Performance And Community Expectations Source The asset’s latest surge was acknowledged by its co-founder. In 2013, Billy Markus and Jackson Palmer rolled out the world’s first meme coin. Markus, however, has been vocal in the cryptocurrency market. In a recent tweet, the creator of DOGE provided his fans with a clever response to the issue of why Dogecoin was soaring. Q&A Q: why is dogecoin up 20% this week? A: no idea — Shibetoshi Nakamoto (@BillyM2k) September 29, 2024 Co-Founder’s ...

As the cryptocurrency sector continues to grow and evolve, more crypto traders are making big profits, including one who recently netted a whopping $2.14 million over the course of a mere seven weeks by swing trading Ethereum (ETH) and carefully timing their transactions. Specifically, this successful crypto trader has made around $2.14 million swing trading Ethereum through 10 transactions that earned them profit each time since August 12, according to the data shared by blockchain analytics platform Lookonchain in an X post on September 30. Crypto trader’s Ethereum transactions since August 12. Source: Lookonchain As the analysts observed, originally noticing the 0xe0b5 address’s transactions on September 26, when they were one of the two remarkably smart whales, the trader was exceptionally good at swing trading Ethereum, buying low and selling high every time, with a win rate of 100%. Picks for ...

Although Bitcoin (BTC) has slightly corrected its recent gains, which saw it get closer to the $66,000 barrier, its breakout above $60,000 was no small feat, and the flagship decentralized finance (DeFi) asset might initiate a parabolic rally phase, thanks to its correlation with the Chinese Yuan (CNY). Specifically, Bitcoin has been building a strong bullish move since the August 5 bottom, and the reason might be the USDCNY pair reaching its top by forming lower highs and beginning to decline aggressively, according to the observations shared by markets analyst TradingShot in a TradingView post on September 30. How Bitcoin relates to Chinese Yuan As the pseudonymous trading expert further explained, history has shown that this is when Bitcoin “always initiates its Parabolic Rally phase” or, in other words, “when the Yuan gains strength, Bitcoin shines.” Furthermore, TradingShot noted just how strong the historical similarities are: ...

Your guide: What is NFT Lending and How Does it Work? Within the fast-changing field of distributed finance (DeFi), nonfungible token (NFT) lending has become a new front ground. The necessity to release their intrinsic worth has grown urgent for investors and asset owners as NFTs—both digital collectibles and representations of real-world assets—have grown ever more popular. NFT lending presents a solution as it lets NFT holders access money without having to sell their valuable digital goods. So, if you’ve ever wondered, “What is NFT Lending and How Does it Work?” you’re in luck. Today, we’re going to cover this and more. Keep reading to find out more. Also read: BRICS: Nearly 50 Countries Look to Its Blockchain System Over US Dollar Understanding NFT Lending A DeFi tool called NFT lending lets NFT owners use their digital assets as loan security. When the NFT market lacks enough liquidity to enable a direct sale, this creative technique offers investors ...

Author: GaryMa Recently, the first fully Bitcoin-isomorphic Layer2 solution CKB released a prototype of Fiber Network, a next-generation common Lightning Network built on Nervos CKB and off-chain channels. It offers fast, low-cost, and decentralized multi-currency payments and P2P transactions for RGB++ assets. The value proposition behind this is that the current crypto payment model has deviated from the “P2P electronic cash system” envisioned in Satoshi Nakamoto’s Bitcoin whitepaper. As the industry evolves, the crypto payment model seems to continually introduce rent-seeking intermediaries and centralization bottlenecks that crypto was originally meant to eliminate. This article attempts to review the evolution of crypto payment models and further explore the vision of CKB in constructing P2P off-chain payments. Bitcoin: The Origin of the P2P Electronic Cash System Currently, the industry may primarily view Bitcoin as a store of value. However, we shouldn’t forget that Satoshi Naka...

Blockchain technology is poised to revolutionize gaming ecosystems by enhancing transparency, ownership, and player engagement. One of its most significant contributions is the introduction of true ownership of in-game assets through non-fungible tokens (NFTs). Players can buy, sell, and trade their unique items across different games, fostering a vibrant marketplace and creating real value for gamers. Additionally, blockchain enables decentralized gaming platforms that allow developers and players to collaborate more freely. Smart contracts can automate game mechanics, ensuring fairness and reducing the risk of fraud. This transparency builds trust within the gaming community, as players can verify the authenticity and scarcity of digital assets. Moreover, blockchain’s ability to facilitate cross-game interactions enhances the gaming experience. Players can use their assets in multiple games, bridging different gaming worlds and creating a cohesive ecosystem. This interoperability enc...

Bitcoin (BTC) has reclaimed the $65K level after a 2% pump in the last 24 hours as the meme coin market, led by Shiba Inu, surged 17%. Bitcoin soared to a 2-month high to trade at $65,485.14 as of 2:34 a.m. EST, pushing the flagship crypto’s market cap to above $1.29 trillion. BTC was buoyed by inflows into spot Bitcoin ETFs (exchange-traded funds) that surged to $365.7 million on Sept. 26, the highest since July 22’s $486 million. Risk-on appetite in crypto markets returned after China boosted market sentiment earlier in the week with a package of stimulus measures that included a rate cut. That followed a 50 basis point rate reduction by the Federal Reserve on Sept. 18, its first in more than four years.  QCP Capital said on Sept.25 that ”the stars are aligning” for the global macro environment, with all major central banks except the Bank of Japan ready to inject liquidity into the global market to support growth “The macro space continues to...

Despite Ripple’s selling spree, which has so far included offloading a total of 350 million XRP from its treasury reserves in September, XRP (XRP) has managed to resist the bearish pressure and has recovered from the brief negative reaction, and one cryptocurrency expert has made a bold prediction. As it happens, XRP looks like a “time bomb waiting to explode” or, in other words, ready for a massive breakout based on its current chart patterns, according to pseudonymous crypto market expert Mikybull Crypto, who has shared this bold prediction in an X post on September 25. $XRP is looking like a time bomb waiting to explode. This cycle will be interesting. — Mikybull Crypto (@MikybullCrypto) September 25, 2024 Why XRP might explode soon Indeed, as XRP’s technical chart indicates, its 50-period simple moving average (SMA) has recently crossed above the 200-period SMA in the ‘golden cross’ pattern that typically suggests a bullish signal, whereas its relative...