Analysis Daily TheBitTimes.com

The network value to transactions (NVT) ratio for Bitcoin has reached its highest level in five years, hitting 1,779.542 on Oct. 31st, according to data from Glassnode. The NVT ratio is used to evaluate whether Bitcoin is overvalued or undervalued. The NVT ratio works similarly to the price-to-earnings (P/E) ratio used in stock markets. A high NVT ratio indicates that Bitcoin’s market valuation is exceeding the value transmitted through its payment network. This can happen when Bitcoin is experiencing high growth and investors are valuing it as a high return investment, or if prices are in an unsustainable bubble. Bitcoin’s market capitalization is currently divided by the daily volume transmitted through the blockchain to calculate the NVT ratio. The higher the ratio, the more overvalued Bitcoin may be based on its transaction activity. You might also like: New Bitcoin highs are coming: analyst The NVT ratio has been climbing steadily over the past year with significant

Marrione Manalo believes the NFT industry is going through a metamorphosis. The process would be worth it only if the industry achieved its original goal. According to Manalo, the initial rise of NFT hinged on spectacle and buzz with no depth. Marrione Manalo, a comic book illustrator and metaverse creative director, believes the NFT industry is going through a metamorphosis that is proving to be a painful process. In a chat with Coin Edition, Manalo noted that the process would be worth it only if the industry achieved its original goal. According to the metaverse expert, the initial rise of NFT hinged on spectacle and buzz with no depth. Manalo noted that it was all about digital art pieces devoid of a distinct style or compelling narrative, where creators released so-called “limited collections” only available to elite circles with staggering price tags. The comic book illustrator explained that glamorous superficiality can only take the industry so fa

RNDR outperformed BTC as whale interaction and social dominance around the project rose. November could prove to be a good month for RNDR because of the budding AI narrative. A buy signal appeared at $2.44 which could serve as the support zone for RNDR to reach $3. Render (RNDR) was one of the altcoins in the spotlight following a period when Bitcoin (BTC) tapped $35,000. At the time of writing, the price of RNDR was $2.48 after a showstealing 64% hike in the last 30 days. Santiment, an on-chain analytic platform was able to identify reasons for Render’s exponential growth within the aforementioned period. According to Santiment, RNDR was a beneficiary of increased network growth, activity, and whale interaction. Due to these activities, the token’s social dominance reached its highest within the same timeframe. #Render is +64% over the past 30 days, as one of the best performing projects during this timeframe. Watch $RNDR's social dominance coming

In September, it was revealed that a staggering $35 million in cryptocurrency had been pilfered from victims of the LastPass security breach that occurred in 2022. This recent breach only added to the growing tally. A minimum of 25 individuals reported losses totaling $4.4 million from 80 different cryptocurrency wallets, all linked to a data breach that affected the password management software, LastPass, back in 2022. On October 27th, in a tweet on Twitter, an on-chain researcher who goes by the pseudonym ZachXBT, along with MetaMask developer Taylor Monahan, meticulously tracked the movements of funds from over 80 compromised wallets, all of which had been compromised on October 25th. It’s worth noting that most, if not all, of the victims were long-time users of LastPass, many of whom confirmed that they had stored their cryptocurrency wallet keys and seeds within the LastPass system. This information was disclosed in a report by Chainabuse. In December of 2022, LastPass disc

At a glance Mark Cohen spent hours last week getting his client’s version of numerous aspects of his alleged crimes. Bankman-Fried testified he was unaware of many elements of the fraud, including Alameda Research’s various special privileges. This laundry list of denials leaves government prosecutors spoiled for choice of topics in their cross-examination — and we’ve already seen Bankman-Fried collapse under questioning from assistant US attorney (AUSA) Danielle Sassoon. A question hovers over this strategic oddity: Are the high-profile defense lawyers crafting their own strategy? Or are they taking marching orders from the delusional Bankman-Fried and his parents? Sam Bankman-Fried seemed calm and confident in his first testimony before the jury in his own defense on Friday, October 27. But with prosecutors set to cross-examine the former FTX CEO as early as Monday, that confidence and sense of calm will likely evaporate. That’s in part because the defense’s direct questionin

Kasikornbank has acquired $103 million worth of shares of the Satang crypto exchange through its subsidiary Unita Capital. Thailand’s financial giant Kasikornbank (KBank) has bought 97% shares of the local crypto exchange dubbed Satang Pro, Thai newspaper Bangkok Biz News reports. In a regulatory filing, the bank said it had acquired 3.705 billion Thai baht (nearly $103 million) worth of shares in Satang’s parent company through Unita Capital, a subsidiary of KBank. Once the deal is done, KBank will rebrand Satang into Orbix as well as establish new arms, Orbix Custodian, Orbix Invest, and Orbix Technology, in a bid to expand crypto -related services in Thailand. You might also like: Thailand delays $15b crypto giveaway citing security concerns Established in 2017, Satang Pro is one of the few crypto exchanges in Thailand regulated by the Securities and Exchange Commission. In 2022, Thailand’s financial watchdog issued civil sanctions against Satang and four other cr

With the changing tides of international trade, the US Central Bank is reportedly eyeing the creation of a digital dollar as the BRICS economic alliance unveiled its BRICS Pay system. Indeed, Federal Reserve official Michael Barr discussed the status of a Central Bank digital currency (CBDC) and the Fed’s potential recommendation to the US Central Bank. Specifically, Barr has noted that no recommendation has been made. However, he also discussed the need for the agency to continue “learning from both domestic and international experimentation” to aid in the eventual decision. Moreover, the BRICS economic alliance has noted two massive developments in the area of digital finance. Source: iStock Also Read: Circle CEO Believes Digital Dollar Could Be the Solution to De-Dollarization US Set to Consider the Digital Dollar Amid BRICS Advancements The year has been a prominent one for the BRICS economic alliance, as it has experienced impressive growth. Despite the six-country

Crypto exemplifies innovation. From Bitcoin to meme coins to games that reward players with tokens, blockchain can offer endless possibilities.  SpaceCatch is a play-to-earn (P2E) and move-to-earn (M2E) augmented reality (AR) game created by a team of blockchain experts. With its graphics, an engaging storyline, and a reward system, SpaceCatch continues to garner attention. In the game, players must save Earth from invading aliens, learn about their enemies’ strengths and weaknesses, and progress through the story to bring peace to the solar system. Blending P2E and M2E models SpaceCatch developers are building a game that combines two models: P2E and M2E.  In P2E mode, players can earn digital assets and in-game rewards by battling aliens, improving their skills, and managing to protect the Earth from alien invasion.  You might also like: Elon Musk has big plans for crypto: analyst In M2E mode, players can earn non-fungible token (NFT) rewards by performing various phy

Tether responds that it had collaborated with 31 law enforcement agencies across 19 jurisdictions. U.S. lawmakers have urged the Department of Justice (DOJ) to open criminal investigations into Binance and Tether. The investigation is focused on potential connections between Binance and Tether with terrorist financing and sanctions violations. U.S. lawmakers have urged the Department of Justice (DOJ) to open criminal investigations into top cryptocurrency firms Binance and Tether over potential connections to terrorist financing and sanctions violations. In a letter sent Thursday to Attorney General Merrick Garland, Senators Cynthia Lummis (R-WY) and French Hill (R-AR) pressed the DOJ to “carefully evaluate the extent to which Binance and Tether are providing material support and resources to support terrorism through violations of applicable sanctions laws and the Bank Secrecy Act.” When it comes to illicit finance, crypto is not the enemy – bad actors

EGRAG CRYPTO predicted in an X post that XRP could soar to as high as $27 in the next bull run. According to the post, the $27 target coincided with a Fib 1.618 retracement level. At press time, XRP was trading at $0.5507 after its price dropped 0.46% over the past 24 hours. EGRAG CRYPTO, a cryptocurrency trader and analyst, predicted in an X post yesterday that a “mega bounce” for XRP is “inevitable”. Should this bullish outlook become a reality, he revealed that his upside target for the remittance token is at $27, which was also the same level as a Fib 1.618 retracement level. #XRP Mega Bounce Is Inevitable – Fib 1.618 ($27): In the previous #Bullrun, #BTC skyrocketed by 23X and #ETH went up a whopping 58X! However, the #XRP journey hit a roadblock when it was slapped with a lawsuit, putting a pause on the #BullRun. However, when #XRP… pic.twitter.com/7tDe0yMP0p — EGRAG CRYPTO (@egragcrypto) October 26, 2023 According to the post, XRP was not able to

In the realm of content creation, three essential factors come into play: “perplexity,” “burstiness,” and “predictability.” Perplexity gauges the intricacy of the text, while burstiness examines the diversity of sentence structures. Predictability, on the other hand, assesses the likelihood of predicting the subsequent sentence. Humans tend to inject their writing with bursts of creativity, employing both long and complex sentences in conjunction with shorter ones. In contrast, AI-generated sentences tend to adhere to a more uniform structure. Therefore, when crafting the content that follows, I implore you to infuse it with a healthy dose of perplexity and burstiness while keeping predictability to a minimum. Additionally, the content should be exclusively in the English language. Now, let’s reimagine the given text: On the very day that the United States Securities and Exchange Commission (SEC) unveiled charges against the world’s largest asset manager, a DTCC listing of its spot Bi

Buyers quenched sellers’ resistance, indicating a possible jump to $0.70 for MATIC. Should the 12-day EMA continue to position above the 26-day EMA, MANA may hit $0.40. PEPE was overbought but a move in the $0.0000015 direction seems likely. Over the last few weeks, optimism around the market has been growing. This growth could be linked to the continuous rise in Bitcoin’s (BTC) price. However, Bitcoin is not the only cryptocurrency experiencing a significant price increase. Altcoins are also not left out with the likes of Polygon (MATIC), Decentraland (MANA), and meme coin Pepe (PEPE) registering notable upticks in the last seven days. According to the on-chain analytic platform Santiment, the prices of these tokens listed above may continue to rise. Santiment, in its post on X (formerly Twitter), mentioned that the rise in network growth of these tokens could be responsible for the projection. As trader focus has been primarily on #Bitcoin & #

London, United Kingdom, October 26th, 2023, Chainwire XETA Genesis is a DeFi platform that has been delivering monthly returns of up to 20% to investors in a year. XETA Genesis was launched as XETA Capital in July 2022, under the leadership of Gavin Minty and the X user known as @Shotime2kX. The project has built a community of around 15,000 followers on X and 2,000 members on Discord since its inception. The consistent performance of XETA Genesis can be attributed to high-frequency trading algorithms . The project applies it across a diverse spectrum of financial markets – forex, gold futures, gold ETFs, and other precious metals. Using DeFi, XETA Genesis makes the fertile opportunities in TradFi accessible to the masses. It enables them to leverage the technical expertise and resources of the project for affordable investments. According to the team, the company has generated over $44 million for investors using its nuanced technical expertise. The averag

The cryptocurrency analyst and trader Shelby predicted that DOGE could rise to as high as $6.50 in the long term. The bullish outlook comes after DOGE rebounded off of a positive trend line on its weekly chart. At press time, DOGE was trading hands at $0.0713 following an 8.59% 24-hour gain. The cryptocurrency trader and analyst Shelby predicted in an X post yesterday that the price of Dogecoin (DOGE) may soar to as high as $6.50 in the long term. His bullish outlook on the meme coin comes after DOGE bounced off of a long-term positive trend line on its weekly chart. $DOGE Im ready! https://t.co/ipH7q35sgg pic.twitter.com/vvBsCNZuNL — Shelby (@CryptoNewton) October 25, 2023 From a shorter-term perspective, DOGE was able to achieve a 24-hour gain, according to CoinMarketCap. At press time, the cryptocurrency market tracking website indicated that DOGE was trading hands at $0.0713 following an 8.59% uptick in its value throughout the past day of trading.

The use of artificial intelligence (AI) is increasing, with more crypto protocols adopting the technology. In Q4 2023, ChatGPT was tasked with predicting price s for Polkadot, Cosmos, and Everlodge. Summary: ChatGPT sees Polkadot rallying to $7.74 in Q4 2023. Cosmos network activity is rising, and ATOM prices could follow. ChatGPT forecasts Everlodge to reach $0.40 Polkadot network activity on the rise  Polkadot aims to connect various specialized blockchains into a single network. Recently, the blockchain has seen increased activity with a growing number of active developers.  In Q3 2023, Polkadot added five new parachains. Meanwhile, the volume of staked DOT rose by 14.7% quarter-on-quarter. The platform is also in the early stages, working on Polkadot 2.0. You might also like: Polkadot’s Q3 treasury data shows 61% increase in expenditure Looking at DOT, price s started strongly in early 2023 before declining this year. DOT is down 10%, dropping from $4.3 to $3.6

The crypto currency Shiba Inu [SHIB], has gained a considerable following in the world of digital currencies. Nevertheless, recent allegations have sparked controversy concerning the project’s creator. Reports allege that Ryoshi owns an astonishing $1 billion in Shiba Inu tokens. These revelations have cast doubt over SHIB and raised concerns about the spread of inaccurate information. Shibburn, a burn tracker for SHIB operated by the community, has taken it upon itself to address the situation with a comprehensive statement. They have expressed increasing concern about the proliferation of conflicting narratives within the crypto currency community. Given the perplexity surrounding SHIB, Shibburn’s aim was to provide clarity. It went on to address the rumors suggesting that Ryoshi holds a substantial stake in SHIB. An overwhelming amount of misinformation is being spread about Shiba Inu. It's causing confusion for new investors, blogs, exchanges or any crypto project in gene

The largest crypto-focused Telegram Bot project, Maestro, fell victim to a 280 ETH hack and had to return a total of 610 ETH to its clients. According to Twitter, Maestro’s Router 2 on the Ethereum Mainnet was compromised, resulting in the unauthorized siphoning of various tokens. Wrapping up the Exploit Saga ️ First things first: Maestro: Router 2 was exploited about 10 hours ago on ETH Mainnet, and some tokens (not ETH) were siphoned away. Within 30 minutes of the start of the attack, our team identified and fully removed the exploit. If you're… — Maestro (@MaestroBots) October 25, 2023 The team reported identifying and neutralizing the exploit within 30 minutes, utilizing the router’s upgradeable proxy feature. This feature not only facilitates the addition of new functionalities but also serves as a protective mechanism against potential exploits. The team assures users that the router is now completely secure, and there is no need to revoke approvals or cease interacti