Author: NBTC

Solana’s on-chain GDP, or the collected fees of all apps, reached a peak in Q4, 2024. The growth was driven by Pump.fun and bots, with traffic flowing into the top DEX. Solana achieved peak on-chain GDP in 2024, based on the fees for its top apps. The chain attracted more activity through meme token launches, both from Pump.fun and from outside projects. As a result, Solana’s on-chain GDP rose to a total of $840M in the last quarter of 2024. For Q3, the chain attracted $268M in revenues. Solana’s validators are heavily subsidized to support this kind of traffic, and…

Optimistic Rollups remain a crucial scaling solution for layer one blockchains, despite the recent hype around newer technologies. Industry experts, including Cartesi co-founder Felipe Argento, emphasize optimistic rollups’ continued dominance in the layer-two (L2) landscape. Optimistic Rollups Fundamental to Multi-Layer Blockchain Infrastructure Optimistic Rollups (OR), once hailed as a revolutionary scaling solution for layer one (L1) blockchains, have seen their spotlight somewhat dim in recent months. However, according to industry experts, their significance remains paramount, with data backing their continued dominance in the layer two (L2) ecosystem. Felipe Argento, Co-Founder of Cartesi, a platform focusing on application-specific rollups, emphasizes the…

On Wednesday, centralized exchanges registered a net outflow of over 17,000 BTC, worth more than $1.6 billion at the going market price of $98,600, according to Glassnode data shared by Andrew Dragosch, head of research Bitwise. That’s the biggest single-day exodus of coins since April 2024. “Whales are buying this dip,” Dragosch said on X, referring to the large outflow of coins. Investors typically take direct custody of coins when planning to hold them for the long term. Hence, a large outflow of exchanges is taken to represent bullish sentiment. Note that blockchain data, though widely used to assess market…

This is a segment from the Empire newsletter. To read full editions, subscribe. Here’s a Tuesday morning exclusive for you: Chronicle raised $12 million in seed funding. The round was led by Strobe (which used to be known as Blocktower Venture Capital) with participation from Brevan Howard, 6th Man Ventures and more. Chronicle is the first oracle on Ethereum, and it’s headed up by a group — including founder Niklas Kunkel — who were part of the founding team at MakerDAO (now Sky). If you don’t know what an oracle is, Kunkel explains it as putting your phone on airplane…

A recent large Shiba Inu transaction between crypto exchange Kraken and an unknown wallet has raised eyebrows among the crypto community. Whale Alert, a prominent whale tracking platform, alerted the crypto community to a staggering Shiba Inu shift. The contentious transaction saw Kraken, one of the largest cryptocurrencies in the industry, move multi-billions of the prominent meme coin to an unidentified address. Transaction Details In a Wednesday tweet, Whale Alert shows that Kraken transferred 1,239,940,928,235 SHIB from its hot wallet to an unmarked address. On-chain analysis shows that the transaction involving the substantial amount of Shiba Inu occurred on Wednesday…

A new artificial intelligence-infused blockchain with Andreseen Horowitz’s backing is “ultimately designed as a replacement for Bitcoin,” according to its co-founder Travis Good. The far-fetched claim is rooted in what Good prognosticates as unvarnished reality: Bitcoin’s encryption mechanisms are “getting really stale” and could be “completely obsolete within five years,” creating a business conundrum for the miners behind it. “You’ve got people who’ve invested billions of dollars in hash power for securing a network in ASICs,” he told CoinDesk at this year’s ethDenver conference. “And the question is like, where do they all go?” His answer is Ambient, a blockchain…

US Bank, with assets under management of $472 billion, reported holding $24 million in Bitcoin ETFs. In its SEC filing last year, the bank reported holdings of $14 million. In the latest US Bank SEC filing, US Bank revealed it held $24 million in Bitcoin ETFs. The new report indicates a $10 million increase since its last filing of $14 million. According to etf.com data, Bitcoin ETFs collectively accumulated $1.1 billion in the five trading days ending Tuesday. US Bank increases Bitcoin ETF holdings by $10 million 🇺🇸US Bank reports $24 million holdings in #Bitcoin ETFs, up from its previous…

Meme coin incubator CoreSky has raised $15 million in Series A funding, to accelerate the development of its platform. The funding, which brings the company’s total backing to $21 million, was led by Tido Capital with participation from WAGMI Ventures, CoPilot Ventures Studio, Web3vision, and Parallel Ventures. CoreSky’s platform enables user voting to gauge public opinion in the early stages of a meme token’s development. Meme coins have experienced a significant surge in popularity in the last year, becoming a notable phenomenon in the cryptocurrency market. This rise is attributed to several factors, including high-profile endorsements, political developments, and the…

TL;DR:This year’s first new batch of validators has been onboarded to the IOTA Rebased test network. This expansion marks another step toward building a robust and diverse infrastructure for the upcoming mainnet launch. The IOTA Rebased test network continues to grow stronger with the onboarding of some highly respected validators in the blockchain space. These validators play a crucial role in ensuring the security, reliability, and decentralization of the network, laying the groundwork for what is set to become a robust and trustworthy mainnet. This is not the conclusion of our validator onboarding process, though. More validators will be onboarded…

Supra, the automated decentralized finance (AutoFi) platform and a Layer 1 (L1) blockchain, has unveiled the nine winners of the first season of the Super dApp Showdown, as per the reports shared with Finbold on Monday, March 31. The winners were selected for their advancements in decentralized finance (DeFi), gaming decentralized finance (GameFi), non-fungible tokens (NFTs), etc. Supra’s Super dApp Showdown winners Launched in August 2024, the Super dApp Showdown invited Web3 developers to come up with and deploy Super dApps on Supra’s L1 network. During the next three months, participants showcased the capabilities of Supra’s technology, including native oracles,…