Author: NBTC

DeFi TVL has jumped by 41% in Q3, surpassing $160 billion. The move marks the first significant move since May 2022. Ethereum and Solana led the growth, with 50% and 30% respectively. The surge reflects a renewed confidence in decentralized finance, led by Ethereum and Solana. Ethereum TVL rose by 50% from $54 billion to $96.86 billion. Solana, on the other hand, realized a 10.5 % jump from $10 billion to $11.5 billion. Across decentralized applications, Solana continued to surpass L1 and L2 networks in revenue following a growing user engagement and on-chain activity. Ethereum hits $96.86 billion TVL as…

As August winds down, readings on Ethereum’s supply, fees, throughput, holders and overall price point to a week with positive net issuance, steady onchain use, and relatively low transaction costs. Ethereum Under the Hood Blockchair’s supply trajectory data indicates Ethereum’s circulating amount has flattened since the 2022 transition to proof-of-stake (PoS) and sits in the low-120 million range today. A snapshot from Ultrasound Money places the current supply around 121,009,974 ETH, with a seven-day net change of +17,877.70 ETH. Source: Blockchair.com Over the same week, records show about 18,652.30 ETH was issued and 774.60 ETH was burned, which pencils out…

This is a segment from the Forward Guidance newsletter. To read full editions, subscribe. Buzz around crypto-linked stocks has proved unrelenting. As shares of such companies continue to hit major exchanges, a few more could also join one of the best-known indexes. Shares of American Bitcoin — a self-labeled “bitcoin accumulation platform” backed by the Trump Family — became available on the Nasdaq today after a stock-for-stock merger with Gryphon Digital Mining. ABTC opened at $9.22, shot up to above $14 and was back near its opening price by 1:30 p.m. ET. The company’s listing comes a day after crypto…

The non-fungible token (NFT) market has just closed its two strongest months since February as adoption and renewed interest have driven trading volumes to its highest levels this year. NFT trading volumes were up 9%, but sales counts dipped 4%, showing that while “fewer assets traded hands, collectors are paying more per sale,” according to a report published by blockchain analytics platform DappRadar on Thursday. CoinGecko shows that trading volumes for NFTs spiked in the last 24 hours, rising more than 25% to reach a high of $7.9 million. Resurgence driven by adoption A key driver of the uptick in…

Standard Chartered’s digital assets research chief says Ethereum still has room to rise, even after recent swings in price. According to Geoffrey Kendrick, growing institutional demand and shrinking exchange liquidity are tightening supply and could push Ether higher toward his year-end target of $7,500. Institutional Demand Up Reports have disclosed that corporate digital asset treasury firms have bought about 2.5% of circulating ETH since June. Spot ETH exchange-traded funds added close to 5% over the same period. Based on those figures, roughly 7.5% of supply has been drawn into corporate treasuries and ETFs since June, a large shift in a…

The Nasdaq stock exchange halted trading of American Bitcoin (ABTC) shares five times Wednesday as volatility spiked on the stock’s relisting debut. Shares of ABTC, a Bitcoin (BTC) mining company co-founded by Eric Trump and Donald Trump, Jr., climbed by nearly 85%, hitting a high of $14 per share during intraday trading, following American Bitcoin’s stock merger with Gryphon Digital Mining, another crypto mining company. ABTC trading was first halted at 3:09:35 UTC for 10 minutes and again at 3:20:11 UTC, with two additional halts at 3:30:54 and 3:40:12. Trading of ABTC halted several times. Source: New York Stock Exchange…

The cryptocurrency world is buzzing with exciting news from Bitfufu. This prominent cloud mining platform, operating under the renowned Bitmain umbrella, recently announced a significant achievement. They successfully mined an impressive 408 BTC last month, adding substantially to their digital asset reserves. This substantial haul highlights the robust operational capabilities of Bitfufu Bitcoin mining and its strategic position in the evolving crypto landscape. Bitfufu Bitcoin Mining: A Deeper Dive into August’s Success Bitfufu’s August performance underscores its growing influence in the Bitcoin mining sector. The platform reported mining 408 Bitcoins, a figure that captures the attention of investors and enthusiasts…

Ethereum (ETH) staking levels continue to break records, with the latest snapshot of the blockchain showing nearly 36.1 million ETH staked on the network – the highest level in history. Ethereum Staking Hits New ATH, Will Price Follow? According to a CryptoQuant Quicktake post by contributor XWIN Research Japan, close to one-third of Ethereum’s circulating supply is now staked. This high proportion suggests that ETH may be on the verge of a structural supply shock. The following chart shared by the analyst shows that even during sharp corrections in 2022 and 2023, staking levels continued to climb. Unlike speculative flows,…

Venezuela is turning to dollar-pegged cryptocurrencies to shore up its foreign exchange market as US sanctions choke oil revenues and reduce the availability of hard currency. The government has quietly allowed private businesses to buy and sell USDT, a stablecoin issued by Tether that mirrors the US dollar, in a bid to keep trade moving and maintain supplies of imported goods ranging from machinery to food. Sanctions shrink Venezuela’s dollar pool For years, Venezuelan companies seeking to import raw materials relied on central bank interventions to access dollars derived from oil exports. But that channel has narrowed as the United…

Bitcoin maxis are once again getting hyped up on hopium as BTC ETF inflows are on the rise again, indicating returning institutional interest. According to data from Lookonchain, some of the biggest financial institutions, including Fidelity, Bitwise and Grayscale sold ETH and bought BTC. Inflows into BTC and ETH ETFs. Source: Lookonchain On-chain data shows funds entering BTC ETFs On-chain data has revealed that spot Bitcoin exchange-traded funds surpassed Ethereum ETFs as far as investment flows on Tuesday. According to data from Lookonchain, spot Bitcoin ETFs saw $332.7 million in net inflows on Tuesday, led by $132.7 million moving into…