Author: NBTC

With the number of active users on the network once again surpassing the crucial 140,000 mark, the $XRP Ledger is exhibiting fresh indications of activity. The most recent XRPL data shows that active users recently reached about 141,800 addresses, which is one of the highest readings over the previous month. Engagement around $XRP grows The timing is especially significant because, as trading volumes and transaction counts decrease throughout the larger cryptocurrency market, blockchain activity frequently slows down before weekends. Rather, despite the customarily slower trading period, $XRP Ledger participation has managed to stay high, indicating that user engagement is still…

Bitcoin [$BTC] trended higher after rebounding from $62,000 a few days ago. It remained inside a broader descending channel, although upside pressure strengthened. At press time, Bitcoin traded near $64,903, up 1.6% daily and 3% over the past week. Are Bitcoin whales buying $BTC? Bitcoin hovered near $64,000 as it searched for a breakout. Whales appeared to offer support. CryptoQuant’s Spot Average Order Size showed large whale orders between $63,000 and $64,000. That made these prices key whale zones. Source: CryptoQuant Lookonchain reported that a newly created wallet received 1,346 $BTC, worth $87.28 million. Of those holdings, 614.95 $BTC came…

Coinbase told investors on Thursday that 88% of its second-quarter net revenue came from something other than Bitcoin spot trading. The same release reported a $359.5 million net loss under US accounting rules, the company’s third consecutive losing quarter. Both numbers describe the same three months. Taken together, they get closer to the truth about Coinbase than either one does alone. The arrangement the company carried into its 2021 listing was easy to understand. Retail customers traded more when Bitcoin went up, and they paid a fee on every transaction. So when prices flattened, the revenue flattened with them. Almost…

Japanese financial conglomerate SBI Holdings has officially completed the acquisition of a controlling stake in Singapore-based crypto exchange Coinhako through its subsidiary SBI Ventures Asset. The transaction received full approval from the Monetary Authority of Singapore (MAS) and has now been formally closed. In their official statements, the management teams of both companies emphasize institutional infrastructure, including the creation of cross-border B2B corridors between Japan and Singapore, the tokenization of real-world assets (RWA), and the launch of the regulated yen-denominated stablecoin JPYSC. However, on-chain data from the Arkham platform reveals an important structural detail of the acquisition. Along with the…

A Fifth Day, Right on Schedule The latest numbers mark the fifth straight trading day of net inflows for U.S. spot bitcoin ETFs and the fourth for their Ether counterparts. Weekly bitcoin ETF inflows have now topped $750 million, a pace that would have looked out of reach a month earlier. The streak traces back to Monday, August 3, and has run through Friday without a single down day. This lies in stark contrast to the choppy, stop-start pattern that defined bitcoin ETF flows for most of the year. Solana and XRP ETF products, by comparison, logged effectively zero net…

The Indian rupee strengthened for a sixth consecutive session on Friday, closing at ₹95.35 against the US dollar, up 15 paise from Thursday’s ₹95.50 close, itself a 26 paise gain marking the fifth straight session of gains. Why the Rupee Keeps Rising Sustained RBI dollar selling combined with a shift in foreign portfolio investor behavior is reportedly driving the rally. FPIs bought ₹7,360 crore worth of Indian equities over the past three days, reversing a period of heavy selling. Analysts expect the rupee to trade between ₹95 and ₹95.60 near term, supported by a softer dollar and dovish Fed expectations.…

Dash, the decade-old payments coin, announced today that it activated a new privacy system called Orchard. The system uses Zcash’s zero-knowledge proof technology to hide transaction details. The launch comes at a difficult time for Zcash, which created the Orchard technology. The project is in the middle of fixing a serious bug that could have let attackers create fake Zcash tokens. What is different about Dash’s new privacy system? Dash has launched a new privacy system called Orchard that lets users send Dash without revealing the sender, receiver, or amount to the public. The old privacy method, PrivateSend, mixed coins…

Rival Miners Split Bitcoin at Block 961632 Several monitoring sites, including forkwatch.tv and the web portal fork.observer, logged the chain split at block 961632 shortly after 4 p.m. EDT. On X, Mempool.space developer Mononaut wrote: “WE HAVE A BIP110 BLOCK. The race is on! Literally the entire rest of the network is still mining on the non-signaling chain tip though. Extremely divergent block templates, due to the differences in policy and the 40 minute wait between those blocks.” Difficulty Jumps as Competing Chains Collide The split landed at the exact moment Bitcoin underwent a difficulty adjustment, with mining difficulty climbing…

India’s Union government has released an additional ₹1,09,019 crore ($12.5 billion) in tax devolution to state governments. The early transfer gives states access to funds more than a week before the regular August payment. The move aims to accelerate infrastructure and development spending. However, the additional liquidity could also have indirect effects on financial markets, including cryptocurrencies. Centre Advances ₹1.09 Lakh Crore to States According to India’s Finance Ministry, the additional tax devolution was released on August 1, ahead of the regular monthly installment scheduled for August 10. The advance payment aims to strengthen state finances and accelerate capital expenditure…

The abrupt reversal in $CASHCAT has created both winners and losers across the market. One trader is sitting on more than $529,000 in unrealized gains from a short position. Meanwhile, others have suffered six-figure losses as the Robinhood Chain meme coin fell more than 70% from its recent high. Notably, trader 0xc36a opened a short position on $CASHCAT two days ago and has since accumulated $535,510 in unrealized profit as the token continued its steep decline. Trader 0xc36a account. Source: https://hypurrscan.io/ Long Traders Suffer Heavy Losses While short sellers benefited from the selloff, bullish traders were caught on the wrong…