Author: NBTC
After banning digital assets in 2018, Qatar is softening its stance and has recently announced a new initiative focused on asset tokenization. Digital assets, DLT, and tokenization are part of the Middle Eastern nation’s Digital Agenda 2030, says Yousuf Mohamed Al-Jaida, the Qatar Financial Centre (QFC) CEO. Based in Doha, QFC launched in 2005 to provide a business and financial center with its own legal and tax rules. QFC has been exploring digital assets despite the country’s blanket ban. In partnership with the Qatar Central Bank (QCB) and other organizations, it launched the Digital Assets Lab “to spur open innovation,…
The Dogecoin (DOGE) ecosystem developers have issued a crucial update as it concerns the launch and hosting of Ordinals inscription on chain. Despite its meme coin status, Dogecoin is looking to evolve like other more functional protocols. The emergence of Ordinals might help in achieving its goals in the future. Dogecoin Ordinals update Dubbed Doginals, developers of the popular MyDoge Wallet hinted that the platform is in the final stages of testing its v1.0 release in readiness for the inscription’s support. As one of the most used native Dogecoin applications, support for Doginals might make the innovation go more mainstream…
Despite Bitcoin’s (BTC) mixed performance during the vacation period, activity on major cryptocurrency exchanges remains substantial. The total volume of the largest centralized platforms has maintained multi-month highs, growing by over 100% compared to last year. However, it’s impossible to ignore the 60% decrease compared to the record-breaking March. According to the latest analysis conducted by Finance Magnates Intelligence, the total spot volume for the 10 largest centralized exchanges in July was $844.9 billion, representing a 13% increase from the $812.5 billion reported a month earlier. Although this result is about 60% lower than the record-breaking $2 trillion from March…
Blockchain layers are the inevitable result of the shortcomings of legacy blockchains, or Layer 1 platforms as they’ve come to be known. Layer 2 platforms have been a hot property in the sector ever since the Ethereum Foundation began embracing the concept as a concrete solution to Ethereum’s ongoing scalability challenges. Over the last year, in particular, as interest in the crypto ecosystem has resurged, the Layer 2 landscape has grown rapidly, with total value locked increasing to an all-time peak of around $50 billion in June. Although the recent market pullback has invariably dragged that figure down, user activity…
In a Monday morning CNBC interview, Anthony Pompliano discussed how Bitcoin’s current pullback follows bullish trends, and he discussed how AI and Bitcoin will work in tandem over the next decade. Pompliano highlighted decade-long bullish trends for both AI and Bitcoin, noting their potential to create and store wealth. “I’m going to go into the office and buy some more,” Pompliano said about his desire to buy more Bitcoin (BTC) at cheaper prices. Bitcoin down 15% When asked about the current slump in Bitcoin’s price, Pompliano remained optimistic about the digital asset, claiming that retail investors, traditional profit takers, and…
A joint project between the Bank for International Settlements (BIS) Innovation Hub and the Bank of England (BoE) has shown it can deliver near real-time data on stablecoins‘ liabilities and the assets backing them. In a report, the two banking bodies outlined the initiative—Pyxtrial—which has been exploring how technology solutions can enable the monitoring of asset-backed stablecoins’ balance sheets, providing insight into whether the backing assets exceed their liabilities at all times. “Stablecoins are a growing and largely unregulated sector with a market capitalisation of around US$162 billion as of June 2024… there is a lack of appropriate supervisory technology…
Arbitrum (ARB), one of Ethereum’s (ETH) most popular second layers, will unlock over $65 million in tokens on July 16. This will increase Arbitrum’s native token circulating supply by nearly 3% and could impact its price, creating a selling pressure. Finbold retrieved this data from TokenUnlocksApp on July 13, highlighting cryptocurrency cliff unlocks for the next seven days. In particular, Arbitrum stands out as the largest unlock in US dollar nominal value, representing 37% of the $174.88 million. Notably, the team will end vesting contracts with 56.13 million ARB, worth $39.39 million. Meanwhile, private investors will have $25.63 million in…
Russian President Vladimir Putin has officially signed a law that legalizes cryptocurrency mining in Russia. According to a report by Russian news agency TASS, the law introduces several key concepts, including digital currency mining, mining pools, and mining infrastructure operators. Mining activities are now recognized by Russia as part of turnover rather than the issuance of digital currency. The new legislation specifies that only Russian legal entities and individual entrepreneurs registered with the government will be allowed to engage in cryptocurrency mining. However, individual miners can participate without registration, provided their energy consumption remains within government-set limits. Additionally, the law…
Shiba Inu lead developer Shytoshi Kusama is confident that interoperability issues between scaling solutions on the Ethereum network could be resolved sooner than people expected. Kusama shared this sentiment while reacting to a recent post from Ethereum co-founder Vitalik Buterin. The Ethereum founder argued that cross-L2 interoperability problems could soon disappear, noting that many would be surprised by how quickly this would occur. He believes the issues related to the interaction of various Layer 2 (L2) scaling solutions on the Ethereum network will be resolved sooner than people expect. Ethereum L2 Interoperability Problems For context, cross-L2 interoperability refers to the…
While the leading cryptocurrency Bitcoin and altcoins started the new week with a decline, a news about Mt.Gox payments caused the BTC price to fall below $ 61,000. While investors are worried about further declines, some market analysts also predict that the decline may continue. At this point, while $ 50,000 levels were being discussed, experienced analyst Ali Martinez analyzed the historical performance of the Relative Strength Index (RSI), which is one of the important arguments on price. Accordingly, Martinez emphasized that Bitcoin’s daily RSI has reached the oversold zone only three times in the last two years. Noting that…