Author: NBTC
Renowned venture capitalist Naval Ravikant opined that Bitcoin (BTC) is the only true L1 in terms of store of value, while alternative blockchains are only competing for the best medium of exchange status. Crypto commentators are sure that the picture is more nuanced. Naval Ravikant calls Bitcoin (BTC) true store of value Iconic venture investor and AngelList founder Naval Ravikant took to Twitter to call Bitcoin (BTC) the true “Layer One” and “Store of Value.” All other blockchains (altcoins) are therefore competing to become “Medium of Exchange,” or Layer Two. Perhaps Bitcoin is the true L1 (the store of value)…
The bullish recovery in Ethereum is slower than anticipated as it crosses $2,500. However, the rising Ethereum ETF inflows teases an uptrend in the biggest altcoin reach. Will $ETH hit the $3,000 mark this month? As the crypto market cap, including Bitcoin, jumps back to $1.978 Trillion, a 16% surge in 52 hours. With Bitcoin hitting the $57 mark today, Ethereum remains undershadowed with minimal recovery over the same time span. Standing above the $2,500 pivot, Ethereum makes a second consecutive bullish candle. Will the recovery rally overcome the bearish influence of last Monday’s 10% bloodbath? Ethereum Bullish Route from…
Jeffrey Huang (a.k.a Machi Big Brother) has reportedly made a surprising move. As per SpotOnChain, a popular on-chain analytics provider, Machi Big Brother has allegedly sold all the $BLUR tokens in his possession at a substantial loss of up to $3.16M. The analytics platform took to its official account on the social media platform X to provide the details. Machi Big Brother had been lately investing in $BLAST token. Machi Big Brother (@machibigbrother) has allegedly dumped all $BLUR at a $3.16M loss!In the past 24 hours, he deposited all 18.4M $BLUR ($3.13M) to #Binance, causing the price to drop after…
Tokenization is becoming popular in financial markets for its benefits, like increased liquidity. Chainlink’s CCIP simplifies cross-chain transactions and regulatory compliance by offering a unified framework for asset transfers. Tokenization is gaining traction in the financial markets, promising significant benefits such as enhanced liquidity, streamlined post-trade processing, and increased transparency. The technology enables tokenizing traditional assets into digital tokens on the blockchain for easy trading and management. A recent study demonstrates the increasing interest, as 97% of institutional investors believe that tokenization will revolutionize asset management. However, tokenization has several limitations. Regulatory fragmentation across regions complicates the landscape and has…
As Bitcoin oscillates near critical support levels, industry analysts voice concerns about the potential for a significant market correction. Prominent crypto analyst Ali, utilizing the platform X, has highlighted a worrying trend where approximately 5.45 million addresses hold 3.03 million BTC, priced between $64,300 and $70,800. Around 5.45 million addresses acquired 3.03 million $BTC between $64,300 and $70,800. This forms a significant supply barrier, risking a steep correction for #Bitcoin. If #BTC’s price continues to drop, these holders may sell to limit losses, intensifying downward pressure. pic.twitter.com/cBkXXjxHUD — Ali (@ali_charts) June 22, 2024 The concentration of Bitcoin holdings creates a…
IOTA Tech Boosts Circular Economy TL;DR:Teaming up with Digimarc we’re providing distributed ledger technology (DLT) to help track and trace the recycling journey of plastics. The use case involves collecting and recycling farm plastic waste, converting it into bioplastics used in consumer products, like plastic bags. It implements DPPs for both intermediate and final products, ensuring B2B and B2C verification respectively, and uses the GS1 EPCIS 2.0 standard for recording events in the supply chain, with proofs stored on the IOTA ledger to support claims about product provenance. Plastic mulch film is integral to modern agriculture. It provides essential functions…
Between Aug. 3 and Aug. 10, 2024, non-fungible token (NFT) sales experienced a 6.29% increase from the previous week, hitting a total of $95.42 million. However, the number of participants in the NFT market saw a sharp decline, with buyers dropping by 86.34% and sellers by 77.25%. NFT Market Sees 6.29% Growth This past week, NFT sales climbed by 6.29% compared to the previous week. Out of the $95.42 million generated, Ethereum-based NFTs took the lead with $32.46 million in sales, marking a slight 0.06% uptick. Solana NFTs followed with $19.52 million in volume, boasting an 11.08% increase. In third…
According to on-chain data, an Ethereum ICO participant has reawakened after nine years of dormancy. According to blockchain analytics firm Lookonchain, the long-inactive address, which participated in Ethereum’s initial coin offering (ICO) in 2014, has taken action for the first time in almost a decade. The address in question initially received 500 ETH during Ethereum’s ICO, when the price was around $0.31 per ETH. At that time, the total cost of the ETH stash was just $155. Fast forward to today, and the value has skyrocketed to nearly $1.25 million, representing a whopping 806,351% gain. In a tweet, Lookonchain reported:…
Shytoshi Kusama, the pseudonymous leader of the Shiba Inu ecosystem, has confirmed he is not Elon Musk, but he’s willing to share his expertise on maintaining anonymity with the billionaire. Kusama shared these thoughts during his first exclusive interview with Arabian Business. He countered the views of conspiracy theorists who suggested the mysterious figure behind the Shiba Inu cryptocurrency might actually be Elon Musk operating under a pseudonym. The report reiterated that “Shytoshi Kusama” is merely a pseudonym, and his true identity remains shrouded in mystery. Shiba Inu Lead’s Anonymity Story Despite his prominent role, Kusama has managed to keep…
Tether has partnered with the Africa Blockchain Institute, a Rwanda-based blockchain think tank, to expand the crypto company’s educational initiative to Ivory Coast. According to a news release on Aug. 9, Tether’s (USDT) partnership will help bring blockchain education to students through workshops across five universities in the West African nation. These universities include Université Félix Houphouët-Boigny, Institut National Polytechnique Félix Houphouët-Boigny, Pigier Business School, Université Alassane Ouattara, and Université d’Abobo-Adjamé. In Ivory Coast, Tether will support programs that enable students to learn about and gain practical skills in blockchain technology and cryptocurrencies. The initiative also targets smart contracts, which…