Author: Crypto News Live

Ethereum Foundation moved 35,000 ETH to an exchange ETH has responded positively to the development, with more of it leaving exchanges Recently, the Ethereum Foundation made a notable transfer of a significant volume of its ETH holdings to an exchange. Such an action is one that typically raises concerns about potential sell-offs and downward pressure on the asset’s price. However, the response from ETH was quite unexpected, defying the usual market reaction to such transfers. Ethereum Foundation sells a chunk of its holdings According to data from Spot On Chain, the Ethereum Foundation transferred 35,000 ETH to Kraken on 23…

Based on the metrics collected from Aug. 17 to Aug. 24, 2024, the non-fungible token (NFT) market experienced a lively 24.33% boost in sales compared to the previous week. Sales reached an impressive $99.05 million, with Ethereum-based NFTs leading the charge at $36.62 million. NFT Market Booms With Ethereum at the Helm Reaching $99M in Sales This week, cryptoslam.io metrics show the NFT scene saw a healthy 24.33% uptick from the previous week. Not only that, but the number of NFT buyers shot up by 42.96%, and sellers weren’t far behind, with a 41.53% increase. Ethereum took the crown as…

Semilore Faleti is a cryptocurrency writer specialized in the field of journalism and content creation. While he started out writing on several subjects, Semilore soon found a knack for cracking down on the complexities and intricacies in the intriguing world of blockchains and cryptocurrency. Semilore is drawn to the efficiency of digital assets in terms of storing, and transferring value. He is a staunch advocate for the adoption of cryptocurrency as he believes it can improve the digitalization and transparency of the existing financial systems. In two years of active crypto writing, Semilore has covered multiple aspects of the digital…

DMarket led Thursday’s non-fungible tokens (NFTs) market in sales with US$643,600, knocking CryptoPunks from the top spot, CryptoSlam data shows. This surge propelled DMarket’s all-time sales volume to a new high of US$492, just US$8 million away from becoming the 14th collection to breach the half-billion dollar mark. The second-ranking collection for the day was Solana DeGods. It recorded daily sales of US$586,670, with a total of 115 transactions, rising from just US$186,567 the previous day. Following closely, the Bored Ape Yacht Club collection, on Ethereum, secured the third spot with daily sales of US$550,430. Fourth, Black Myth Wukong, an…

Galaxy research noted that since Dencun, transactions on Ethereum layer 2s have more than doubled, likely because of bots. The Ethereum mainnet has also seen a notable decline in total revenue and ETH burned.  The Ethereum [ETH] Dencun upgrade went live in March this year. While it had the desired effect of making layer 2s scalable and cost-efficient, it has also had an unintended downside.  Per an in-depth analysis by Galaxy, the EIP-4844 upgrade saw costs for Ethereum rollups reduce substantially, which fueled their usage. This also shifted revenue away from the Ethereum mainnet.  Galaxy researcher Christine Kim notes that…

Flow enables high-speed, secure transactions, supporting major NFT platforms like NBA Top Shot. Theta combines blockchain with video streaming, revolutionizing digital content distribution via NFTs. Binance Smart Chain offers low-cost, fast processing, attracting NFT creators and broadening their audience. When it comes to Non Fungible Tokens (NFTs), some altcoins have taken the lead, making significant strides in this innovative space. Three such altcoins are Flow (FLOW), Theta (THETA), and Binance Smart Chain (BSC). Each of these projects has carved out a unique position, supporting the booming NFT ecosystem. Flow (FLOW): The Backbone of Major NFT Platforms Flow (FLOW), developed by…

Cristiano Ronaldo, one of the world’s most famous soccer players, has partnered with Binance to launch multiple NFT collections, aiming to revitalize the NFT market. Binance recently launched the Forever Worldwide: The Road to Saudi Arabia NFT collection in partnership with Ronaldo. This was the fourth collection in their collaboration and was exclusively available on the Binance NFT Marketplace. The collection featured seven unique NFTs, each representing a key location in Ronaldo’s career: Madeira, Lisbon, Manchester, Madrid, Turin, Saudi Arabia, and Portugal. Collectors were able to earn rewards based on the number of unique NFTs they owned. The first drop…

In a surprising move, the FBI has decided to use NFTs to return $1.14 million to victims of the CluCoin fraud. This is the first time law enforcement agencies have used NFTs to reach out to victims of fraud.Using NFTs to Notify VictimsCluCoin fraud victims will receive notifications through NFTs, which will provide instructions on how to reclaim their stolen funds. By using NFTs, the FBI aims to bypass the traditional methods of victim contact that cybercriminals prey on. By embedding crucial recovery information within the NFT, the FBI can ensure that only the rightful victims are directed to the…

At press time, ETH was caught in a 4-hour symmetrical triangle, showing no clear directional trend. On-chain data suggested that a potential rally could be on the horizon. Market activity for Ethereum [ETH] has been subdued, showing only a slight increase of 2.45% in price, now trading around the $2,600 level. This kind of price behavior is typical when an asset is trading within a symmetrical triangle—a pattern characterized by converging diagonal upper and lower lines. Previous instances of such trading patterns have often led to significant price movements, either upwards or downwards. Analyst forecast for ETH  In a recent…

Ethereum was trading at a key resistance zone. An impulse move higher is anticipated, but traders should be wary of a breakout. Ethereum [ETH] was laboring in a long-term downtrend. The price has been stuck in the $2550-$2730 zone for nearly two weeks now. The long-term downtrend and the bull vs bear case were examined in detail in a recent AMBCrypto report. An investigation revealed that Ethereum users were increasingly opting for private transactions which consume more gas. This added to the volatility to the base fee and could disadvantage network users. Is this an accumulation phase before the next…