Author: NBTC
Federal agents seized electronic devices from Polymarket CEO Shayne Coplan’s Soho residence early Wednesday morning, a week after the prediction market platform correctly forecast Donald Trump’s presidential election victory. According to a report by the New York Post, law enforcement officers arrived at the 26-year-old entrepreneur’s home at 6:00 a.m. to confiscate his phone and other electronics, a source close to the matter said. “They could have asked his lawyer for any of these things. Instead, they staged a so-called raid so they can leak it to the media and use it for obvious political reasons,” the source told The…
According to statistics provided by DeFiLlama, Binance, which is the leading blockchain ecosystem in the world and the biggest cryptocurrency exchange in terms of trading volume and users, has achieved two consecutive billion-dollar inflow weeks. This brings the total amount of net inflows for the month of November to more than $5 billion dollars. This number is five times higher than the net inflows of the platform that comes in second place in terms of size. Binance’s position as the preferred trading platform is further strengthened by this exceptional expansion, which comes at a time when market demand is increasing…
A revamped version of Bubblemaps, a blockchain analytics and visualization app, aims to help cryptocurrency’s plebs identify the whales, using AI and other new features. Bubblemaps launched in 2021 to provide a simplified way for blockchain users to understand the supply distributions of various digital assets. The platform’s latest update seeks to boost transparency in the crypto market by exposing token ownership patterns that may indicate centralization or manipulation. “On-chain data deserves more attention,” said Bubblemaps CEO Nicolas Vaiman in an interview with CoinDesk. “It is the lifeblood of the system. However, it is widely overlooked by the majority of…
As October nears its end, Bitcoin (BTC) has finally found the momentum expected from ‘Uptober’ as it first broke the protracted downtrend. The flagship cryptocurrency rallied from October 10 lows under $60,000 to a relatively stable level near $68,000 and, in the last 24 hours, surged above $71,000. Specifically, having managed a 4.22% rise to $71,184 during the last day of trading, Bitcoin is, at press time, 8.61% in the green in the 30-day time frame and has climbed 65.67% from where it stood at the start of 2024. Still, the world’s premier cryptocurrency has yet to reclaim the March…
Nearly two years after FTX’s collapse impacted Solana’s decentralized finance (DeFi) sector, Coinbase is attempting to reintroduce bitcoin-based trading to the Solana blockchain with its new token, cbBTC. Launched recently, cbBTC is a bitcoin-backed token that users can transfer between their Coinbase accounts and Solana wallets, allowing easier bitcoin transactions within Solana’s DeFi ecosystem. Solana’s DeFi sector has lacked a reliable bitcoin token since FTX’s downfall in November 2022, which rendered soBTC—widely used on Solana—unavailable. This absence created a disadvantage for Solana compared to Ethereum, which offers multiple options for bitcoin-backed tokens in its DeFi landscape. Coinbase’s cbBTC aims to…
Politically themed tokens, commonly known as “politifi tokens,” have seen a significant downturn as investors rush to sell and secure profits. Leading the sell-off, notable tokens like MAGA (Trump), Super Trump Coin (STRUMP), and MAGA AGAIN (MAGAA) have witnessed sharp declines. The MAGA (TRUMP) token has dropped by 32%, while MAGA has fallen by 35%. Other tokens, including STRUMP and MAGAA, have seen even steeper drops, declining by 53% and 42%, respectively. TREMP, another in the series, suffered the most, plummeting by 59%. 🚨 POLITIFI TOKENS ARE DUMPING$MAGA (TRUMP) -32%$MAGA -35%$STRUMP: -53%$MAGAA: -42%$TREMP -59%Investors are selling the news and taking…
Supreme Court justices indicated they may deliver a limited ruling in a shareholder lawsuit against Nvidia Corp. The alleged lawsuit claims that the company misrepresented its reliance on crypto mining revenue to investors. During Wednesday’s hearing, several justices questioned whether the Supreme Court should have taken Nvidia’s appeal, noting the absence of broader legal implications. Chief Justice John Roberts remarked that both sides had oversimplified their arguments. Nvidia Crypto Revenue Under Scrutiny Nvidia shareholders claim CEO Jensen Huang misrepresented revenue drivers in 2017 and 2018. They allege that while the company’s GeForce GPUs were marketed as gaming products, significant sales…
Popular trading platform Robinhood saw substantial growth across its key metrics in October, with significant increases in trading volumes and customer assets under management. The company’s equity trading volumes jumped 48% to $126.4 billion compared to September, while cryptocurrency trading surged 51% to $5.6 billion. Options contract trading also showed strong momentum, rising 16% to 158 million contracts. When compared to October 2023, the surge is even more visible: in equities volumes rose by 149% from $50.8 billion and in cryptocurrencies by 143% from $2.3 billion. The good results in crypto market confirms data from the Q3 report. In the…
L2 chains are waking up – and requiring the highest fees in the past three months. None of the L2 chains offer their usual negligibly cheap transactions under $0.01, and all of the leading chains are competing to post to Ethereum. Fees on leading L2 chains are catching up with the market frenzy. After months of nearly negligible fees, all major L2 chains have increased transaction costs, which they pass on to end users. L2 transactions are still reasonable, especially given the recent peak gas fees on Ethereum. Yet even chains like Base, priding themselves on rock-bottom fees, have seen…
Bitcoin’s (BTC) price has surged by 5% over the past 24 hours, reaching $71,000 — a level unseen since March and just 4% below its all-time high. Despite the bullish momentum, concerns are mounting about a potential market correction that could cause widespread liquidations of leveraged positions. This analysis breaks down the factors at play and highlights critical points for BTC holders to watch closely. Bitcoin Market Begins To Overheat Bitcoin’s price hike has been accompanied by a corresponding surge in its open interest. At $44.44 billion as of this writing, the coin’s open interest has noted a 10% rally…