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Nubit and Succinct launch Nuport to connect blockchain ecosystems

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Polychain-backed modular blockchain platform Nubit and Web3 firm Succinct have launched Nuport, a new interface leveraging Nubit’s data availability layer to connect various blockchains.

In its announcement on Aug. 6, Nubit said Nuport would allow the modular blockchain to bridge to Bitcoin (BTC), Ethereum (ETH), Solana (SOL), and other blockchains. This will be achieved via Succinct SP1, a zero-knowledge powered virtual machine that allows developers to build real-world applications with zero knowledge proofs.

Through writing Rust, SP1 integration also means any developer can access ZKPs by writing popular programming languages.

Through the Nubit DA, any blockchain ecosystem can tap into Succinct SP1 to enable high-throughput applications. Nuport will enable these projects to benefit from Bitcoin-secured data availability. data availability.

“By validating Nubit block headers with ZK proofs, Nuport inherits Nubit’s security guarantees, offering Bitcoin-secured data availability across any blockchain.” the Nubit team noted.

ZKP use cases

The development means Nubit now offers a platform that provides security, scalability, and efficiency for the decentralized applications developer community. Succinct SP1 also allows Nubit to adapt to the blockchain ecosystem’s evolving environment and requirements.

Examples of zero-knowledge L2 projects include Zcash, Starknet, Immutable X, Polygon zkEVM, and ZKsync.

SP1 currently offers teams from across the space access to production ZK. It includes projects on Polygon, Celestia, Gnosis, and Taiko, with use cases ranging from cross-chain interoperability, bridging, coprocessors, oracles, and Bitcoin layer-2.

Meanwhile, Nubit’s blockchain technology supports applications across artificial intelligence, SocialFi, and GameFi.



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Bitcoin Indicator Signals Equilibrium After Trump Victory – A Clear Path To New Highs?

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Este artículo también está disponible en español.

Bitcoin is trading around $75,000 following Donald Trump’s victory in the U.S. election, stirring fresh optimism in the crypto market. Trump’s pro-crypto stance has ignited excitement among analysts and investors who anticipate favorable policies for digital assets in his administration. With Bitcoin now sitting at all-time highs, many speculate this could begin a new rally phase.

Related Reading: Ethereum Analyst Sets $3,400 Target Once ETH Breaks Key Resistance – Details

Key data from CryptoQuant indicates that Bitcoin has reached a price equilibrium, suggesting there are no strong market forces pulling the price lower. This positive equilibrium reinforces the bullish outlook and hints at a stable foundation for further growth. Analysts believe Bitcoin may be set for new highs with fewer obstacles in the coming weeks.

As investor confidence builds, some view this phase as a critical moment for Bitcoin to solidify its position in a pro-crypto policy environment. The combination of strong technical support and positive sentiment from Trump’s victory has set the stage for what many hope will be a significant upward trend, potentially driving the broader crypto market higher.

Bitcoin Enters A Bullish Phase

Bitcoin has officially entered a bullish phase after breaking past its previous all-time highs, reaching $76,500. This level has become a new area of focus as many analysts identify it as a potential resistance zone. 

According to CryptoQuant analyst Axel Adler, the market is currently balanced between a “Bubble” and a “Crash” phase. Adler’s analysis, which includes key on-chain data, suggests that Bitcoin’s market structure is at an equilibrium, meaning there are no significant fundamental reasons to anticipate a drop. Instead, this setup provides a stable foundation for possibly continuing Bitcoin’s upward trend.

Bitcoin Bubble vs Crash Market Structure signals equilibrium
Bitcoin Bubble vs Crash Market Structure Signals Equilibrium | Source: Axel Adler on X

With the Federal Reserve’s interest rate decision set to be announced today, the next few weeks promise to be pivotal. A stable or favorable decision from the Fed could reinforce the optimism in the market, drawing in new demand and reinforcing Bitcoin’s position above $76,000. 

Many investors and analysts expect heightened activity from institutional players, particularly given Bitcoin’s resilience around this milestone level. The market’s balance at this juncture is crucial. As long as Bitcoin maintains its current structure, it has the potential to continue its upward trajectory without substantial risk of retracement. 

With fresh demand entering the market and the macroeconomic backdrop shaping up favorably, Bitcoin may soon aim for even higher levels. For now, all eyes remain on the $76,500 mark and how the market will respond in the wake of the Federal Reserve’s announcement. This period of consolidation could be the catalyst for the next leg up, solidifying Bitcoin’s bullish outlook.

BTC Key Levels To Watch 

Bitcoin is trading at $75,000, holding steady above its previous all-time high of approximately $73,800. This level has become a critical support zone as BTC continues in a well-defined 4-hour uptrend. The trend began after a strong bounce from the 200 exponential moving average (EMA) at $66,800, indicating renewed bullish momentum.

BTC trading above previous ATH
BTC trading above previous ATH | Source: BTCUSDT chart on TradingView

Bulls need to keep the price above the $73,000 mark to sustain this momentum, a key psychological threshold. This level boosts market confidence and provides a potential springboard for Bitcoin to reach higher targets soon. A confirmed hold above $73,000 could signal further upside, inviting additional buying pressure and potentially setting up BTC for new highs.

However, if BTC fails to hold this level, it could slip toward a lower demand area of around $70,500. Despite this possibility, current price action shows no significant signs of a downturn. The steady uptrend and firm support levels suggest that Bitcoin’s bullish outlook remains intact, with little indication of an imminent drop.

As long as BTC maintains its structure, the path toward continued gains remains clear, reinforcing confidence in the ongoing rally.

Featured image from Dall-E, chart from TradingView



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Benjamin Cowen Issues Bitcoin Alert, Says Potential Plunge ‘That Scares People’ Incoming – Here’s His Outlook

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Widely followed analyst Benjamin Cowen is issuing a warning on Bitcoin (BTC) as the flagship crypto asset trades near its all-time high.

In a new video, Cowen tells his 820,000 YouTube subscribers that Bitcoin could turn bearish around one month after the US general election.

“I just want to put that out there as one potential outcome that following the election, there’s going to be a lot of really bold calls as to what will happen. And what I think could happen is a drop sometime in early December that scares people. And I think it might be around the time of the labor market release [Non-Farm Payroll report is scheduled for December 6th].”

According to Cowen, Bitcoin could drop somewhere between 12% to 46% from the current level if the bearish scenario plays out.

“What is unclear to me right now is whether that drop by Bitcoin is just back-testing this [around $65,000] and then going up in 2025 or if it’s back-testing down here [around $40,000] and then going up. That is what I still remain somewhat unsure of…”

Source: Benjamin Cowen/YouTube

At time of writing, Bitcoin is trading at $73,813, down about 2% from its all-time high of around $75,400.

The widely followed analyst says that his envisaged Bitcoin correction in December would likely be temporary if it happens.

“I could envision a scenario where after the political outcomes are all decided if Bitcoin doesn’t immediately move up and then it starts to crash people might assume that the cycle is over. But it could very well just simply be the soft landing scenario…

…you could get a situation where you know Bitcoin sort of falls here and then rallies on up to new all-time highs in 2025.”

Source: Benjamin Cowen/YouTube

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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

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Bitcoin (BTC) Price Hits $76K as Crypto Liquidations Soar, Coinbase (COIN) Rockets 30% Higher on Trump Sweep

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“It’s hard to think how the election outcome could have landed better for the industry, and expectations of key regulatory improvements are likely to build in the coming months and quarters,” David Lawant, head of research at crypto prime brokerage FalconX, said in a Wednesday report. “Such clarity could open room for additional crypto ETF products, covering the main crypto assets and potentially also a broader crypto index, and give entrepreneurs and investors more comfort in U.S. token launches.” However, Lawant warned of short-term risks in the meanwhile, which may include “last-minute enforcement actions by departing officials.”



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