Author: NBTC
In a startling turn of events for the Shiba Inu (SHIB) community, over 24 million SHIB tokens have been burned within the last 24 hours, marking a substantial surge in the burn rate of the popular meme-inspired cryptocurrency. The data, sourced from Shibburn, a platform dedicated to tracking token burn activity, indicates a staggering 241.86% increase in the burn rate during this short period. Token burning, a process in which a certain quantity of a coin is deliberately removed from circulation by sending it to an inaccessible wallet, is often viewed as a bullish indicator within the crypto space. The…
The HKEX confirms that crypto ETFs aren’t available to mainland China investors, despite persistent rumors otherwise Hong Kong’s crypto ETFs, because of their unique in-kind redemption model, would offer a means to bypass mainland China’s capital controls As the listing date for Hong Kong’s crypto exchange-traded funds (ETFs) got closer, the rumors went into overdrive that they would be available to mainland Chinese traders via the Stock Connect, which allows mainland trading of Hong Kong equities. And then the ETFs launched, and they still aren’t available. But the rumor won’t cease. The reality is that, while crypto is still available…
Since the halving, 63 blocks have been mined, and bitcoin miners have accumulated substantial fees following a dramatic increase in the fee rate. This surge took the cost per transaction from $18 to over $245, recorded at 9:00 p.m. EDT on Friday evening. Since then fees have dropped and by Saturday morning at 7:30 a.m. EDT, transfer fees are down to $34 per transaction. Massive Revenue Recorded as Fees Skyrocket on the Bitcoin Blockchain Following the halving event, bitcoin fees, or the cost to conduct transactions onchain, experienced a notable increase. This uptick was primarily driven by a marked increase…
Crypto is a world built for autodidacts, a playground for polymaths. Tarun Chitra, the founder of the risk management, economic research and software optimization organization Gauntlet, is just one shining example. In a conversation with Chitra, this comes through. It seems there is no corner of crypto he hasn’t examined. Chitra, who often takes his time to pause before answering questions, will be speaking at Consensus 2024, May 29-31, in Austin, Texas. CoinDesk caught up with the bona fide DeFi celebrity known for his colorful style (hair, glasses and clothes) to talk about new financial primitives in crypto, artificial wombs…
Ethereum (ETH) price is presently reeling from the ongoing downtrend that brought the second-biggest cryptocurrency below $3,000. The investors, however, are still optimistic about recovery, which could occur if the broader market cues shift. Ethereum Investors Show Bullishness Ethereum price is expected to witness the impact of ETH holder’s actions, which are presently in favor of a rally. The investors are choosing to opt out of selling their holdings, which is evident from the decline in active deposits. Active deposits highlight the ETH deposit addresses that move their holdings from their wallet to exchanges. This usually indicates the sentiment of…
TL;DR:The IOTA Grants Program, kicked off in March 12th 2024, has supported a wide range of projects in its first two months, ranging from GameFi to decentralized exchanges. The updates will continue to provide insights into new developments and their impact on the ecosystem. The IOTA Ecosystem DLT Foundation’s Grants Program, operational for nearly two months, marks a significant milestone in the DLT Foundation’s efforts to support innovative builders and projects and to amplify the rapid growth of the IOTA ecosystem. As the program progresses, we aim to provide monthly updates to share insights and developments. This commitment ensures our…
In April, derivatives trading volume on the largest exchanges decreased by 1.4% month-on-month. However, futures trading volumes on Binance, the largest centralized exchange (CEX), rose more than 72% in April compared to March. According to the Wu Blockchain team, the sharp increase in trading volume is due to Binance introducing a time-limited fee discount for USDC perpetual contracts, which led to a rise in trading volume for perpetual agreements. However, excluding this, the total trading volume in April decreased by 26.6% compared to the previous month. The three largest declines in futures trading volumes were the exchanges Bitget at 16.1%,…
As the Bitcoin community celebrated the completion of another halving event, renowned Bitcoin critic Peter Schiff took to the stage with a warning for BTC holders. The highly anticipated Bitcoin software update called “halving” has been completed. The modification went into effect as of 8:10 p.m. Friday, New York time, according to data from analytics websites mempool.space and Blockchain.com. This event, which reduces the reward for mining new blocks by half, is seen by many as a bullish signal for the cryptocurrency’s value. However, Schiff’s perspective offers a sobering counterpoint to the prevailing optimism. Peter Schiff, a long-time skeptic of…
Decentralized finance projects Lido and Aave generated more fees in the last 24 hours than top blockchain networks like Bitcoin, Ethereum, and Solana. According to DeFillama data, Lido accrued $2.34 million, while Aave amassed $1.85 million during this period. In contrast, Ethereum, Bitcoin, and Solana secured $1.84 million, $1.34 million, and $1.17 million, respectively, in fees. Market observers explained that the fee surge reflects crypto users’ willingness to engage with these platforms over traditional blockchain networks. Why do people use Aave? The Bank for International Settlement (BIS) explained that crypto investors use DeFi lending pools like Aave to seek yield.…
2 whales, often referred to as big players, have borrowed 8,400 $ETH, which is worth $25 million, from a decentralized crypto lending platform called Aave. The whales have transferred the borrowed money to Binance, which is one of the most popular centralized cryptocurrency exchanges. It is believed that they are shorting $ETH. Shorting is a trading strategy in which an investor bets on a decrease in the price of a cryptocurrency. From now, if the price indeed falls, the investors will earn money. 2 whales have borrowed 8,400 $ETH($25M) from #Aave and deposited it into #Binance in the past 2…