Author: NBTC
The crypto market has seen a shift in power, with Binance emerging as a dominant player in the global exchange network. Despite challenges like regulatory scrutiny and market volatility, Binance has solidified its position, capturing an increasing share of the Bitcoin reserve market among Proof-of-Reserve (PoR) exchanges. Binance’s Bitcoin Reserve Market Share Grows Since 2017 Data from CryptoQuant founder Ki Young Ju highlights Binance’s growth from mid-2017 to late 2024. Starting with a small share in 2017, Binance expanded rapidly, reaching about 10% of the market share by early 2018. After a decline phase from 2018 to 2020, the exchange…
Last week, Ulrich Bindseil and Jürgen Schaaf of the European Central Bank (ECB) published a paper entitled “The distributional consequences of Bitcoin” in which they made a host of dubious claims about Bitcoin. The notions that those who are late to investing in bitcoin are impoverished by those who were early to investing in it and that Bitcoin has failed as a payments technology are the authors’ central arguments. Bitcoin analyst Tuur Demeester sounded the alarm about the report on X. As a former academic, I was appalled at how lazy the arguments in this paper were. Hence, I’ve taken…
Theta Labs has announced a multi-year partnership with the University of Oregon’s artificial intelligence research facility, Distopia Laboratory. The Theta Labs team revealed the collaboration in a blog post published on Oct. 29, noting that the initiative will be led by Distopia’s Assistant Professor Suyash Gupta. EdgeCloud is a hybrid cloud computing platform for AI, video, rendering and gaming. Theta announced the launch of the solution in February, while phase one of the platform went live in May. According to the announcement, the lab will use Theta Network (THETA)’s EdgeCloud in the university’s AI model training. You might also like:…
Bitcoin has surged to unprecedented levels, reaching an all-time high of $94,000 amid growing optimism in the cryptocurrency sector. Ripple CEO Brad Garlinghouse criticized the Biden administration for what he called an “illegal war on crypto” in a recent interview, while expressing hope for a crypto-friendly approach under the Trump administration. Garlinghouse said Ripple is focused on revolutionizing cross-border payments using its native cryptocurrency XRP to make transactions faster and more affordable. Despite Ripple’s global operations, Garlinghouse noted that legal challenges from the SEC have limited its growth in the U.S. “Ninety-five percent of our customers are outside the U.S.,”…
Binance Futures is set to introduce new trading options with the launch of USDⓈ-margined perpetual contracts for 1000WHYUSDT and 1000CHEEMSUSDT offering up to 75x leverage. Binance Futures to Launch Perpetual Contracts for 1000WHYUSDT and 1000CHEEMSUSDT with Up to 75x Leverage Launch Schedule 1000WHYUSDT Perpetual Contract: Trading starts at 14:30 on 25-11-2024. 1000CHEEMSUSDT Perpetual Contract: Trading starts at 14:45 on 25-11-2024. Key Details Verification: WHY Contract Address: [0x9ec02756a559700d8d9e79ece56809f7bcc5dc27] Cheems Contract Address: [0x0df0587216a4a1bb7d5082fdc491d93d2dd4b413] Maximum Funding Rate: ±2.00% at launch. Funding Fee Settlement: Every four hours. These contracts aim to expand the range of trading options for users while improving the overall trading…
Bitcoin’s price took a turn for the worse in late Monday evening in Europe. The sellers have reappeared and established control, pushing the cryptocurrency below $67,000, losing about 2.5% in the past 24 hours. The move has pushed the total liquidations in the derivatives market to about $200 million. In the past four hours alone, almost $70 million worth of leveraged positions—the majority of them long — were wiped off the market. This latest move caused a lot of uncertainty in the market, with many wondering whether the rally to a new all-time high is put on pause. Some popular…
The Solana blockchain’s meme coin market has reached a $12.2 billion market cap, a 7.3% increase in the past 24 hours, according to Coinmarketcap. Solana’s meme coin sector is seeing growing interest, with tokens like WIF, POPCAT, and BONK leading the surge. ⚡️ BREAKING: Meme tokens on the #Solana chain have exceeded $12 billion in market value, achieving a record high with a 7.3% market cap increase.The leading meme tokens are: $WIF, $POPCAT, $BONK, $MEW, and $GOAT.#Memecoins #cryptocurrency pic.twitter.com/Rx90WR4VrA — Coin Edition: Your Crypto News Edge ️ (@CoinEdition) October 29, 2024 WIF, also known as dogwifhat, is the top Solana…
South Korea’s financial watchdog has doubled its restrictive stance toward crypto, rejecting the launch of exchange-traded funds (ETFs) that track companies linked to digital assets. Local media reported on Nov. 20 the Financial Supervisory Service (FSS), citing policies rooted in a 2017 government directive, has barred asset managers from introducing ETFs focused on firms like Coinbase. This move follows a broader prohibition on Bitcoin (BTC) spot and futures ETFs due to the South Korean Capital Markets Act, effectively sidelining an essential avenue for institutional investment. Contrary to global movements The decision to block ETFs investing in virtual asset firms has…
Digital prime brokerage GCEX has strengthened its partnership with institutional custodian Hex Trust, launching a new “Secured Accounts” service to provide enhanced protection for institutional digital assets in the EU and the UK markets. The new offering builds upon the firms’ three-year collaboration, integrating Hex Trust’s bank-grade custody infrastructure to deliver segregated asset storage that adheres to regulatory requirements. The service specifically targets hedge funds, asset managers, and brokers seeking institutional-grade security for their digital holdings. Lars Holst, CEO & Founder, GCEX “Our Secured Accounts service addresses a critical need for institutional clients by providing a robust mechanism for safeguarding…
A widely followed crypto analyst is issuing a Bitcoin warning after BTC‘s failed breakout and dip to the $66,000 range early Monday. In a new video update, crypto strategist Benjamin Cowen tells his 818,000 YouTube subscribers that Bitcoin is showing similarities to a 2019 correction. “If Bitcoin does start to fade, if it can’t break through this [resistance around $70,000], if it starts to fade, then it’ll start to show more of those 2019 similarities… The thing that hasn’t necessarily run its course is that when Bitcoin broke out [in 2019], we had already had 75 basis points of rate…