Author: NBTC
SpaceX uses stablecoins to dodge foreign exchange risks, Silicon Valley venture capitalist Chamath Palihapitiya said in the All-In podcast on Friday. Foreign exchange risk refers to the risk of losses that could arise from drastic fluctuations in a currency. For example, if a U.S. company has customers in Brazil that pay in Real (BRL), the company could stand to lose money when converting to U.S. dollars. Using stablecoins as a hedge According to Palihapitiya, SpaceX collects payments from all customers of Starlink in “long-tail countries,” and converts them to stablecoins. Starlink, which is wholly owned by Elon Musk’s SpaceX, provides…
Solana developers recently approved the first block increase in the blockchain’s history, signaling a commitment to maintaining network operability and scalability in preparation for the chain’s future demand. Solana Devs Pass Symbolic Block Limit Increase, Aim for Further Expansion Solana, one of the top blockchain projects in the cryptocurrency industry, has recently passed the first proposal tackling the issue of the block limit, kicking off what Solana Foundation’s Head of Staking Ben Hawkins called “the scaling wars.” The measure was proposed in Solana Improvement Document (SIMD) 0207, which suggested an increase of 2 million units, going from 48 million to…
Cleanspark targets 50 EH/s in first six months of 2025. The Bitcoin miner reached 37.5 EH/s in 2024, exceeding the projected hashrate amid expansion efforts. Bitcoin mining company CleanSpark has surpassed its 2024 operating hashrate target of 37 exahashes per second, hitting the key milestone amid expansion efforts in the US. On Dec. 23, the Nasdaq-listed BTC miner announced it achieved 37.5 EH/s, surpassing its 2024 guidance of reaching 37 EH/s. The Bitcoin miner hit its guidance for the year amid a jump in fleet efficiency, which reached 17.7 Joules per Terahash (J/Th), which now sees the firm target 50…
While the leading cryptocurrency Bitcoin (BTC) has surpassed the critical level of $ 100,000, there is no full consensus in the market. While some analysts expect a pullback or a sideways movement from here, some analysts expect the rise to continue. At this point, Nick Forster, founder of decentralized options protocol Derive, said that he does not expect BTC to move sideways around $ 100,000 for a long time. Forster said that breaking the $100,000 psychological price barrier would attract more interest and push the price higher. “I don’t think we’re likely to see much consolidation around 100,000. I expect…
The past seven days have seen dynamic activity in the NFT market, with leading collections showcasing varied performances. Azuki remained at the top of NFT sales over the past seven days, with $2.24 million in total sales despite a 31.49% decline in weekly performance. The collection recorded 51 transactions and 33 buyers, marking a significant 45.90% drop in buyers. Pudgy Penguins followed closely in second place, achieving $1.77 million in sales. Despite a 21.89% decrease, this collection saw 29 transactions and 24 buyers. Azuki Elementals ranked third with $1.24 million in sales, reflecting a 38.90% decline. With 182 transactions and…
The stablecoin market went from promising to explosive in 2024. It started the year with a market cap of around $135 billion. By December, that number shot past $200 billion—a more than 50% increase. And since the November elections, it’s grown another 15%. But don’t think for a second this momentum is slowing down. With a pro-crypto administration set to take the reins and Congress inching toward a long-awaited regulatory framework, 2025 is set to be even better for stablecoins. The thing is USDC and USDT are becoming the backbone of the global financial ecosystem. They’re completely changing how people…
Ethereum Foundation researcher Justin Drake’s claim about the Cardano network was discussed by Cardano founder Charles Hoskinson in a recent X post. Justin Drake recently appeared on the Paul Barron network show, where he discussed the proposed Beam Chain upgrade to enhance Ethereum’s consensus layer with faster finality and zero-knowledge proof integration. Part of the discussion sought to answer the questions, “Is liquid staking an immediate threat to Ethereum?” and “Is Cardano staking superior to Ethereum?” The topic in question raised some misconceptions, leading Hoskinson to elaborate on the strong security model that supports the project, which he drew inspiration…
The original and foundational cryptocurrency, Bitcoin (BTC) has, unsurprisingly, consistently maintained the largest market capitalization of all digital assets. But it hasn’t exactly been a smooth ride — the volatile nature of crypto has led to numerous intense price changes that have added or subtracted billions in BTC’s market cap in short timeframes. In 2024, a promising first quarter was followed up by an extended period of sideways trading without a clear trend. Since mid-October however, things have changed — Bitcoin, as well as the wider crypto market, is now in a bull run, buoyed by tailwinds from resurgent recession…
Phoenix Group, the first cryptocurrency company in the UAE to list on the Abu Dhabi Stock Exchange, is preparing to dual-list on Nasdaq in the coming year. The move is expected to help the company to expand its business footprint in the global market. Here is everything you should know about the development. Read on! Phoenix Group’s Journey and Achievements Originally established in Abu Dhabi in the year 2017, Phoenix Group is now the largest crypto mining operator in the Middle East and North Africa region. Notably, it, at present, manages more than 765 MW facilities in the United States,…
Ripple has moved its entire December reserves of 200 million XRP, worth $500 million, as XRP recovers from a crash. This selling pressure could impact the recovery and further price appreciation, absorbing a significant part of the incoming demand. Notably, the asset went through an aggressive correction after an impressive rally up to the 3rd position by market cap. XRP Ledger’s (XRPL) native token started crashing last week after dismissed rumors and concerning technical indicators, reaching the 4th position. Now, as XRP again struggles behind Tether’s USDT, its largest token holder, Ripple, has initiated a massive sell operation. On December…