Author: NBTC
After a few days of deep outflows from Bitcoin (BTC) ETFs, the fund wallets have started moving coins. Fidelity, one of the last net buyers of coins, shifted multiple tranches of BTC out of its custodial wallet. Fidelity, one of the ETF providers that also provides custodial services, is moving coins from one of its main wallets. Fidelity sent out several identical transactions of 200 BTC, which landed in previously unmarked wallets. Each transaction was then split into two addresses containing 50 BTC and another one with 99.99 BTC. For now, there are no signs of the coins being sold…
The decentralized finance total value locked surpassed the $90 billion mark for the first time since August. According to data provided by DeFi Llama, the total DeFi TVL is currently sitting at $90.23 billion with a trading volume of $7.13 billion. The surge comes as the leading five protocols register gains. Lido, the leading liquid staking platform, saw its TVL rise by 0.4% in the past 24 hours, reaching $25.8 billion. It generated a revenue of $6.74 million—with $67.4 million in fees—over the past month. The TVL of the top lending protocol, AAVE, increased by 1.9% and surpassed the $14…
In a shocking turn of events, two of the most influential figures in digital media, Mr. Beast and Gary Vaynerchuk (Gary Vee), have come under scrutiny for alleged involvement in cryptocurrency and NFT “pump-and-dump” schemes. This controversy traces back to May 2021, when Gary Vee reportedly gifted Mr. Beast a high-value NFT called the “Gift Goat” from his own VeeFriends series. What followed were large transactions from Mr. Beast’s wallet, as he invested in additional VeeFriends NFTs worth hundreds of thousands of dollars. This sudden activity, critics allege, artificially drove up prices in the NFT market, leaving regular investors vulnerable…
With the broader digital currency ecosystem in an uptrend, Ethereum’s (ETH) performance has come to the fore. While Ethereum has not performed badly, many still consider its growth subpar, especially as Bitcoin almost retested its all-time high (ATH) recently. Drawing on this, top market analyst Benjamin Cowen reiterated that Ethereum is not dying. Ethereum’s performance from Bitcoin’s perspective Ethereum’s growth is not completely disappointing when it is viewed as a standalone asset. In the past 24 hours, it has jumped by more than 2% to $2,675.24. Over the past week, the growth rate crossed 4%, extending the 52-week high to…
Larry Fink, CEO of BlackRock, discussed his expectations for the Federal Reserve’s upcoming policy decisions at the Future Investment Initiative in Saudi Arabia. He highlighted the ongoing monetary pressures and the challenges the Fed faces in responding to current economic conditions. Speaking to a global audience, Fink said that the Federal Reserve may cut interest rates by another 25 basis points before the end of 2024 to balance rising costs. ⚡️ JUST IN: #BlackRock CEO Larry Fink anticipates “at least” another 25bps interest rate cut this year.#LarryFink #Crypto #BreakingNews pic.twitter.com/Yf6oRl1bKn — Coin Edition: Your Crypto News Edge ️ (@CoinEdition) October…
In its latest third-quarter mining report, CoinShares announced that Bitcoin mining costs have reached record levels. CoinShares: Bitcoin Mining Costs at Record Level According to the report, the production cost of each Bitcoin is approximately $49,500 when cash expenses alone are taken into account, while this figure increases to an average of $96,100 when additional costs such as depreciation and stock compensation are included. CoinShares Chief Researcher James Butterfill noted that despite the high costs, mining companies continue to expand their infrastructure and plan to invest more in anticipation of future price increases. According to previous data, the total computing…
Major cryptocurrency Bitcoin is down nearly 4% in the last seven days, erasing most of the gains from the $49,500 low on Aug. 5. While the market expects a new ATH with a fast and strong recovery, analysts say that BTC may experience further corrections and a rapid recovery is not yet likely. At this point, 10x Research founder Markus Thielen predicted that there is a possibility that BTC could drop below $50,000. Stating that the Bitcoin price fell below the ascending trend line of the asymmetrical triangle in the last correction in his recent analysis, Thielen said the following…
Suilend, a DeFi lending and borrowing platform, has announced the launch of SpringSui, a new standard for liquid staking tokens (LSTs) on the Sui network. The introduction of Spring SUI (sSUI), the first LST under this new framework, is part of this standard. More Web3 users will be able to engage in staking thanks to sSUI, which will also expand the Sui network’s liquidity and yield-generating possibilities. The protocol-level upgrades SIP-31 and SIP-33, which establish a new token standard intended to speed up the expansion of LSTs on Sui, are the foundation for SpringSui. Suilend created sSUI, the first token…
Gravitaslabs, a key player in the Web3 industry and partner of Animoca Brands, has joined forces with LightLink to bring Lamborghini’s new digital platform, Fast ForWorld, to life. This partnership aims to redefine fan engagement and brand loyalty in the automotive sector. It leverages a gasless, Ethereum-based Layer-2 (L2) blockchain solution to foster a seamless user experience for Lamborghini enthusiasts. Lamborghini’s Next-Level Platform Hits Web3 Gravitaslabs is popular for its work on immersive Web3 engagement solutions, bringing interactive digital platforms to major automotive, sports, and fashion brands. It will use LightLink’s L2 solution, designed for high transaction speeds and low…
Ether has bucked its recent trend of underperformance against bitcoin, rising by 2.5% in the past 24-hours whilst bitcoin has edged lower. $17 million worth of short bets on ether have been liquidated on derivatives exchanges. Continued negative sentiment around ETH’s loss of market share could lead to a short squeeze. Ether (ETH) might be primed for a period of upside price action after sharply underperforming against bitcoin (BTC) in recent months. Skeptics have claimed that the emergence of layer-2 networks has seen Ethereum fall out of favor among DeFi traders, but the data tells a different story. Has the…