Author: NBTC

Ether spot ETFs are expected to see less demand than bitcoin versions, the report said. The lack of a staking feature in ether ETFs means less spot conversion, the report said. Bernstein said that despite the recent pullback in crypto markets institutional adoption continues to grow. Ether (ETH) spot exchange-traded funds (ETFs), once approved for trading, will likely see the same sources of demand as the bitcoin (BTC) ETF but on a lower scale, broker Bernstein said in a research report on Monday. “ETH should not see as much spot ETH conversion due to the lack of an ETH staking…

Cryptocurrency adoption is surging globally, with the UAE and Vietnam leading the way, according to new data from Triple-A. Data from Triple-A reveals the UAE leads the world in cryptocurrency adoption, with over 30% of its population, approximately 3 million people, owning digital assets. This reflects the nation’s forward-thinking embrace of financial technology and its aspirations to become a major fintech hub. Holding the second spot is Vietnam, where 21.2% of the population, or about 21 million people, are involved with digital currencies. This substantial engagement demonstrates the preference for investment diversification among Vietnamese citizens. Notably, Vietnam, the only top…

Cardano advocate, Dan Gambardello, believes the recent developments in the Cardano ecosystem could ignite a significant price surge for its native token, ADA. Gambardello points to the upcoming Chang hard fork on the Cardano network and the recently announced partnership with the Argentine province of Entre Ríos as potential catalysts. CARDANO ALERT! Chang Hard Fork CONFIRMED!Intro 00:00Cardano is setup for success 1:00Cardano will never be the same 2:00Chang Hard Fork date! 2:40Bullish timing! 3:00What Chang Hard Fork means? 4:05Chang #1 4:35Chang #2 5:35Cardano charts 7:30Cardano and previous hard… pic.twitter.com/0kXog3ms1j — Dan Gambardello (@cryptorecruitr) June 6, 2024 Gambardello highlighted several bullish…

Johnny Ng, a member of the Hong Kong Legislative Council, announced the establishment of a new subcommittee focusing on Web3 and virtual asset development. Hong Kong Parliament Establishes Crypto Legislative Subcommittee Ng announced that his office is actively collecting policy feedback from the global Web3 industry. The aim is to gather insights, offer policy recommendations, and discuss the future direction of the crypto industry in Hong Kong. Ng, who chairs the new subcommittee, highlighted several key focus areas. These include increasing protection for crypto investors, ensuring financial stability without hindering stablecoin innovation, and exploring regulatory measures for professional crypto custody…

I heard a lot of people say no one could define an L2 at Bitcoin Asia. The problem is that we have a definition, and most people just want to ignore it. Marketing, eh. “Bitcoin L2s” are the hottest thing on the street. People are using a bunch of jargon to distract users from trust assumptions and shill Bitcoin Season 2. Why all the sudden energy? See, about a year ago, some teams figured out how to use Bitcoin as a data availability layer for rollups. Others have been working on improving trust assumptions related to bridges (aka two-way peg).…

Andromeda, a platform offering a variety of on-chain and multi-chain products, has announced an integration with the finance blockchain Injective, as per the latest updates shared with Finbold on June 27. The integration is set to accelerate the adoption of decentralized finance (DeFi) and will merge each of the partners’ respective technologies to unlock new economic opportunities. The Andromeda-Injective partnership Together, the two partners will work on enhancing the capabilities of both Andromeda, recognized as the first Web3 Operating System, and Injective, the fastest blockchain developed for financial applications. The partners will explore new avenues for cross-chain tokens, streamlined asset…

CBRT announced its interest rate decision for June 2024. CBRT Monetary Policy Committee left interest rates constant in June. The expectation was that the policy rate would be kept constant at 50% in June. What Was the Dollar’s Reaction to the Interest Rate Decision? After the CBRT decision, the dollar is traded at 32.92 TL. CBRT’s statement regarding the latest interest rate decision is as follows: “The Monetary Policy Committee (Board) has decided to keep the one-week repo auction interest rate, which is the policy rate, constant at 50 percent. The weakening in the underlying trend of monthly inflation suffered…

In a recent interview, Ripple’s Middle East and Africa Managing Director Reece Merrick shared his personal take on the company’s plans to create and launch its native stablecoin. He also explained why he believes it will be a success, while such popular USD-backed stablecoins as USDT and USDC have already existed in the market for many years. The video extract was shared by XRP enthusiast @BankXRP. Ripple’s activity in Dubai In particular, Merrick spoke about the sector he is in charge of, and part of it is Dubai where, recently, the Crypto Expo Dubai 2024 event took place. The executive…

Digital hamsters are reportedly taking over Iran—and the government isn’t too keen on it. Telegram-based crypto game Hamster Kombat has seen surging interest in Iran, according to a report Monday from the Associated Press, as local users flock to the simple tap-to-earn game ahead of its upcoming token launch. That interest has been seen broadly in recent weeks as the game—which primarily revolves around tapping the screen and lets players oversee a fictional crypto exchange as a hamster CEO—has apparently drawn vast amounts of players eager to get a share of the token drop. Hamster Kombat’s developers announced Monday that…

Bitcoin has passed the $70,000 mark for the first time in more than a month, since April 12. The price of the biggest digital asset is now at $70,225 per coin, data from CoinGecko shows, jumping 6% in 24 hours. And crypto liquidations are surging as a result, with short positions dominating the carnage. The asset’s rise comes as investors again flood the newly approved spot Bitcoin exchange-traded funds (ETFs) with money following weeks of outflows. Data on Monday showed that nearly $1 billion hit the new funds, which give investors exposure to the biggest digital asset. The flood of…