Author: NBTC
Synthetix’s algorithmic stablecoin sUSD has continued its month-long depeg, now trading nearly 21% below its $1 peg. According to CoinGecko’s price data, sUSD has dropped to $0.7924 as of Apr. 17, down more than 8% in the past 24 hours. Its market cap has fallen from $30 million at the beginning of April to $25 million as of press time. Due to the ongoing depeg, market activity has increased, as shown by the 320% rise in 24-hour trading volume to $794,081. sUSD is a synthetic asset issued on the Synthetix (SNX) protocol, backed by its native token SNX and designed…
U.S. stocks continued to seesaw as markets opened largely flat on Tuesday, following Monday’s positive close. The Dow Jones Industrial Average, the S&P 500 and Nasdaq indices were trading roughly flat an hour after Tuesday’s opening bell. On Monday, all major indices ended the day solidly in the green. Electronics related stocks had benefited from the recent exclusions for computers and smartphones among other consumer electronics. Auto stocks also soared amid news of potential tariff exemptions for car companies. However, the overall market outlook pointed to continued jitters over potential direction of tariffs – particularly the turmoil around U.S.-China trade…
Today, the cryptocurrency market remained down as a reaction to the newly announced US trade tariffs that hit the global investment industry, leading to severe effects across various financial sectors. Most crypto assets are down today, with Bitcoin’s value today down 1.42% over yesterday, currently standing at $81,974. Ethereum is also down 1.62% over the previous day, currently hovering at $1,769. Multiple major assets like BNB, SOL, ADA, and many others also recalled their prices. Despite significant declines in several assets, today’s data reported by Phoenix Group highlighted top performers in the crypto market. DAILY GAINERS$AIC +32.0% $GRASS +26.7% $USUAL…
SoonChain, an advanced blockchain entity for Web3 and AI integration, has commenced a new partnership with ZenithRing, a prominent Web3 smart ring that converts health data of a person into digital assets. The collaboration aims to redefine the health economy, letting users earn rewards for their healthy lifestyle and activity. The platform disclosed this development on its official social media account. New AI Partnership Announcement📢We’re partnering with @ZenithRing , the first AI-powered Web3 smart ring turning your health into a digital asset.💡 Together, we’re redefining the health economy, earn by staying active, get AI-powered insights, and take control of your…
Novel decentralized finance (DeFi) protocol Neutrl aims to bring a hedge fund trade — once limited to sophisticated investors — to the masses in the form of a crypto token. The protocol is launching its NUSD “synthetic dollar” token, designed to generate returns by arbitraging discounted altcoin deals in over-the-counter (OTC) markets, the team told CoinDesk in an exclusive interview. Neutrl also raised $5 million in seed funding led by digital asset private marketplace STIX and venture firm Accomplice. They were joined by Amber Group, SCB Limited, Figment Capital and Nascent alongside a range of crypto angel investors including Ethena…
Courtyard and DMarket became the two most popular weekly NFT sales, while CryptoPunks rose 43.99% in value. One rare CryptoPunk sold for a $10 million loss due to the current low ETH prices. Top collections such as Bored Ape and Pudgy Penguins declined while other smaller projects like LilPudgys picked up. Courtyard led in the NFT market this week with total NFT sales of $18.36 million, up from $15.874 million in the previous week, a 16.18% increase. There were 141,945 transactions recorded in the collection, with 8,712 buyers, making it the most sale-prone platform among all the others. TOP #NFT…
CBDCs are digital versions of national currencies issued and regulated by central banks. By eliminating intermediaries, CBDCs boost monetary policy efficiency and make international payments seamless. The emergence of Central Bank Digital Currencies (CBDCs) is revolutionizing the international financial landscape. They are central bank-issued digital currencies designed to advance payments. Also, it enhances financial inclusion and counters the development of decentralized cryptocurrencies. As countries test or introduce CBDCs, their implications on world economies, monetary policy, and financial systems receive widespread interest. What Are CBDCs? CBDCs are digital forms of fiat money issued and guaranteed by central banks. CBDCs, unlike decentralized…
The Ripple SEC case finally seems to come to an end as both the parties have agreed to pause their legal appeals as they enter settlement talks. There are speculations that the incoming SEC Chair Paul Atkins could drop the case altogether. In a court filing on April 10th, both the parties said they want to save time and resources while trying to reach a settlement. Hence, Ripple will no longer need to respond to the SEC’s brief that was due on April 16. In a latest X post, prominent crypto influencer, John Squire shared his detailed analysis on the…
A New York legislator has submitted a new bill pushing for integrating blockchain technology in elections to combat voter fraud and enhance election integrity. Assemblyman Clyde Vanel (D-33) submitted his Assembly Bill A7716, which, if passed, directs the New York State Board of Elections to study the use of blockchain to protect election results and voter records. It would require the board to submit a report to the governor and the state assembly on the benefits and risks of the technology in the election process. The bill requires the board to engage with other states and countries that have implemented…
Lombard Finance, a Bitcoin infrastructure developer, has launched a software development kit (SDK) that allows wallets, exchanges, and other platforms to offer one-click bitcoin (BTC) staking. The release aims to further bring BTC into the decentralized finance (DeFi) economy by tapping into the estimated $154 billion in bitcoin estimated to be sitting idle on centralized exchanges. The new toolkit allows users to stake BTC to mint a liquid staking token called LBTC, which can be automatically deposited into Lombard’s DeFi Vault for a current annual yield of 3%, according to the protocol. “Once viewed solely as a store of value,…