Author: NBTC
Centralized cryptocurrency exchange Bybit is struggling to keep up with withdrawals following a hack that saw over $1.4 billion worth of Ethereum and related assets swiped early Friday. In a livestream following the incident, Bybit co-founder and CEO Ben Zhou said that the firm has “experienced massive withdrawals in the last two hours.” However, he added that there are thousands of pending withdrawals that the firm is still working through because it needs to move liquidity around. Zhou told viewers that it would work through pending withdrawal requests within “a few hours,” and that the firm had no plans to…
NYDIG, Stone Ridge’s subsidiary that offers Bitcoin-backed loans, is preparing to expand its offering through float financing, according to the firm’s 2024 investor letter. The letter rebuts common objections to Bitcoin’s (BTC) utility, suggesting that it can generate cash flow through sales and serve as collateral for fiat loans. Float is a key concept in insurance and asset management. It represents investable capital derived from premium payments or reserves. Stone Ridge’s Longtail Re has experience deploying billions of dollars in asset-backed loans, albeit none backed by Bitcoin. Warren Buffett’s Berkshire Hathaway is notoriously known for using its float as leverage.…
Solana continues to dominate the altcoin season and after SOL rebounded to $210, other Solana-based AI cryptos, including ZAILGO and BUZZ, also hit record highs. SOL Rebounds, AI cryptos ZAILGO, BUZZ Follow the Ride! In the early hours, Solana rebounded to $210 and is currently quoted at $207.39, marking a 24-hour increase of 1%. The year 2024 proved to be a period of remarkable growth for the Solana ecosystem. Over the past year, SOL saw an impressive rally of 88.95%. This growth is largely attributed to several memecoins consistently gaining traction on social media and offering opportunities for profit-making. As…
Crypto exchange ByBit says everyone is affected by the suspected hack of one of its cold wallets leading to the theft of almost $1.4 billion in Ethereum. During a live stream X platform, ByBit’s head of derivatives and Institutions, Shunyet Jan, precisely said “to be honest right now, everyone is affected.” JUST IN: Bybit when asked how many users are affected by the $1.4 billion hack “To be honest, right now, everyone is affected.” pic.twitter.com/rwkJTcGnsz — Watcher.Guru (@WatcherGuru) February 21, 2025 It’s not exactly clear how everyone is affected by the incident, given that only Bybit’s ETH cold wallet was…
The co-founders of the blockchain analysis platform Glassnode are laying out how Bitcoin (BTC) can reclaim six figures and more. Glassnode and Swissblock co-founders Jan Happel and Yann Alleman, who share the social media handle Negentropic, start by comparing BTC’s current situation to a similar scenario from a few years back. “Let’s look at the period from December 2020 to February 2021, which corresponds to a similar cycle phase and comparable price action. At that time, the outflow of liquidity coincided with a price correction, but network growth persisted. Likewise, when the price stabilized and a new influx of liquidity…
Dogecoin (DOGE) whales have actively conducted massive DOGE transactions in the past 24 hours. Their activity has resonated in the market, triggering a price rebound for the meme coin. This development has stirred the interest of investors in the ecosystem as they strategize to benefit from the price resurgence. Whale transactions signal optimism for DOGE Notably, data from IntoTheBlock reveals that transactions worth more than $100,000 recorded within the DOGE ecosystem are valued at over $23 billion. This includes inter-wallet transfers, outright sales and movement between exchanges. This suggests that DOGE whales might think a possible future price movement is…
The hashrate of Bitcoin has been declining for a few weeks. Taking as a reference the seven-day moving average calculated by Hashrate Index, after reaching the new all-time high at 850 Eh/s on February 8th, just a few days later it had already returned to 812 Eh/s. A couple of days ago it had returned to 841 Eh/s, but today it is back to 816. The records of Bitcoin’s hashrate The difficult market conditions The cost of mining Energy consumption The records of Bitcoin’s hashrate The global Bitcoin hashrate is an estimate that measures the computing power allocated overall in…
Bitcoin, the number one cryptocurrency by market cap, has put an abrupt stop to opinion pieces about an impending bear market by suddenly adding more than $3,000 to its price tag within just hours. Earlier today, the flagship cryptocurrency slipped to as low as $91,315 on the Bitstamp exchange. It plunged to the lowest level since Nov. 26. The cryptocurrency’s plunge prompted speculation about the end of Bitcoin’s bull markets. However, these concerns were rather premature given that the cryptocurrency has managed to pare its losses within a relatively short span of time and turn green on the daily chart.…
The establishment of the IOTA-Imperial College Lab underscores its commitment to research and innovation. IOTA has rebounded from a critical Fibonacci retracement level, with analysts predicting next price targets of $0.6258, $0.7232, and $0.8101. The IOTA ecosystem has indeed gone through a complete transformation in the past year. It is now at the forefront of distributed ledger technology, having increased its usage cases and defined its market presence. Recent developments point to the progress IOTA has made in tokenization, digital trade finance, regulatory compliance, and decentralized infrastructure, per the CNF report. A Look At Key Achievements In 2024 Amongst its…
Bitcoin mining is a tough business. When one considers deploying economic resources to mine traditional commodities such as gold, copper or oil, prospecting for those resources in the field is always done beforehand, to ensure that any capital invested in a mining project will not be in vain. But due to the very nature of Bitcoin’s security protocol, miners are not able to prospect for anything, since finding a block is a purely statistical and random event. Since there are only 144 blocks to be found per day, there is no way to ensure that a miner’s work will be…