Author: NBTC
ZKM, a protocol that seeks to extend Bitcoin via its zkVM protocol, has announced the launch of a Bitcoin layer-2 network called GOAT Network. In an announcement shared with crypto.news on Monday, ZKM said GOAT Network will go live in Q3, 2024 to bring the first universal L2 to the market. The decentralized platform will also be the first L2 on Bitcoin to share network ownership. ZKM’s Entangled Rollup technology will power the new L2, with users set to benefit from Bitcoin network’s security. “GOAT Network’s launch of a Bitcoin L2 is a powerful first step in ZKM’s quest to…
BTC as source of diversification Cryptocurrencies have historically exhibited low correlations with traditional asset classes, offering a unique source of idiosyncratic risk in portfolios. Bitcoin is known for its extreme volatility, with significant price swings like a roller-coaster ride — plunging over 64% in 2022 and then rallying 160% in 2023. This volatility can be challenging for crypto traders. On the other hand, the S&P 500 offers more stable performance, averaging 9% to 10% annual returns and serving as a benchmark for the U.S. economy. Despite lower returns compared to Bitcoin, the S&P 500’s consistency and reliability make it a…
As the crypto market eagerly anticipates the potential launch of spot Ethereum ETFs in the U.S., a staggering 32.6 million ETH—over 27% of the total supply—is now being used to secure Ethereum’s proof-of-stake network, according to the latest data from Coinbase. This milestone underscores the growing enthusiasm for Ethereum staking, even as the ecosystem grapples with the implications of the long-awaited Ethereum ETFs. The new exchange-traded funds, unlike their underlying asset, won’t be able to stake their holdings due to regulatory constraints. The rise in staked ETH has been steady, with a brief slowdown following the Shanghai upgrade in spring…
Shibarium, the layer-2 scaling solution of the Shiba Inu ecosystem, has seen a mild surge in its Total Value Locked (TVL). This metric jumped from $2.15 million on May 21 to $2.42 million today, a move that accounts for more than 12%. Beyond the visible growth, the uptick in the TVL is a testament to the growing usage of Shibarium, which as of early January, boasts of less than $1 million locked, per data from DeFiLlama. The current $2.42 million in locked value amounts to exactly 93,653,250,774 SHIB locked in different protocols hosted on the platform. As of today, the…
Consensys, the Ethereum software developer firm that built the MetaMask wallet, shared Tuesday that it is launching a “MetaMask Delegation Toolkit,” aimed at making the user experience of blockchain applications more seamless. The news was announced at the Ethereum Community Conference (EthCC) in Brussels, Belgium, where the company plans to begin onboarding developers to use its new product. According to a press release shared with CoinDesk, the Delegation Toolkit will allow for instant user onboarding without needing to interact with a traditional wallet, in addition to eliminating “user friction completely,” meaning no pop-ups or confirmations when switching between a decentralized…
Crypto firm Galaxy Digital is forecasting how Ethereum (ETH) exchange-traded funds (ETFs) will stack up to Bitcoin (BTC) ETFs. According to a new research post from Charles Yu, the firm’s vice president of research, Ethereum ETFs will see roughly one-third of the inflows of similar Bitcoin products. To reach their estimate, Yu says the firm compared the two assets’ market cap, open interest levels and volume in futures markets, and the total assets under management (AUM) across existing funds. “Based on the above, we think that ether spot ETF inflows will be approximately 3x less than US spot bitcoin ETF…
Onchain data shows suspicious transactions made by a wallet that may be an “insider” investor in an altcoin. According to the data, the cryptocurrency whale with the short address 0x85f began accumulating the BEAM altcoin shortly before it was listed on the cryptocurrency exchange Upbit and immediately sold amid the post-listing rally. The transactions of the cryptocurrency whale in the last 3 days attract attention. First, the whale created his wallet just 3 days ago and withdrew 750 thousand USDT and 90.34 Ethereum via Coinbase. He used these to purchase $911,000 worth of BEAM at a price of $0.028 on…
Swiss crypto bank Amina Bank has partnered with Pyth Network to provide more accurate price feeds for users. This collaboration brings Amina Bank closer to its goal of enhancing the user experience and accessibility of Web3 applications. The real-time price feeds allow Amina Bank to generate an entirely new revenue stream for its business without incurring significant costs. Boosting Web3 Accessibility Swiss crypto bank Amina Bank has partnered with the decentralized financial oracle Pyth Network to improve the accuracy and efficiency of its price feeds for users. The collaboration also marks another step in Amina Bank’s ongoing efforts to enhance…
Yuval Noah Harari, a distinguished historian and best-selling author, recently voiced his concerns about Bitcoin at the Bank of International Settlements (BIS) Innovative Summit 2024. Consequently, Harari’s opinions received widespread criticism from the crypto community. What Did Harari Say About Bitcoin? Harari noted that while the future might lean towards electronic money, historical trust in banks and governments to manage monetary flow has fostered societal trust. He believes it is a good idea to give central banks and the government the authority to create money. “When I look at Bitcoin, as a historian, I don’t like it because this is…
Ethereum price seems to be forming a base above the $2,820 level. ETH could break the $3,160 resistance and rise toward the $3,320 resistance. Ethereum is consolidating losses above the $2,880 level. The price is trading above $3,000 and the 100-hourly Simple Moving Average. There was a break above a key bearish trend line with resistance near $2,960 on the hourly chart of ETH/USD (data feed via Kraken). The pair could gain bullish momentum if there is a close above the $3,160 resistance. Ethereum Price Eyes More Upsides Ethereum price retested the $2,820 support zone. ETH seems to be forming…