Author: NBTC
Ethena’s USDe shows an arbitrage opportunity because of a disparity between the staked price and the free token’s trading price. USDe aims to supply Ethena’s DeFi with a more intuitive way of trading and locking in gains. The arbitrage between USDe and staked USDe is not causing problems for now, but it has been watched closely. USDe was one of the most actively growing stablecoins in the past few weeks. Ethena was also aggressive in its early token issuance, achieving 2B in supply faster than any stablecoin protocol. Staked $USDe (sUSDe) is currently trading at a discount of more than…
In what could be a pivotal development, anticipation is mounting as experts speculate on the imminent approval of spot Ethereum ETFs. For example, Nate Geraci, the president of ETF Store, has sparked discussion on X by suggesting that approval could come next week. Geraci’s prediction aligns with the sentiments of industry insiders such as Bloomberg’s Eric Balchunas, who foresees an ETF debut as early as July 2, strategically timed to coincide with the U.S. Independence Day holiday. I’m deciphering this as spot eth ETFs will be approved this week…Just me tho. https://t.co/rFrMThytgC — Nate Geraci (@NateGeraci) June 23, 2024 Moreover,…
Polkadot (DOT), a pioneering layer-0 blockchain, is making significant strides in tokenizing real-world assets (RWA). Amid the growing buzz surrounding RWA tokenization, industry experts believe Polkadot has the potential to be a market leader. Several projects in its ecosystem also support this view. Key Insights into Polkadot’s Role in Real-World Asset Tokenization Polkadot’s architecture, designed for interoperability and scalability, is ideal for tokenizing assets like real estate, commodities, and intellectual property. The JAM Whitepaper (Polkadot 2.0) could further solidify Polkadot’s position in the RWA tokenization market. This initiative bridges traditional finance with the crypto economy, providing a compliant, secure, and…
A crypto influencer who called Logan Paul the “biggest moron I’ve ever had the pleasure of doing business with” says he avoided a lawsuit from the YouTube star after his lawyers advised him it could turn into an ongoing issue that could cost him millions. Jake Greenbaum worked with Paul on the controversial NFT CryptoZoo game. The project was a complete failure and led to a series of lawsuits against Paul, Greenbaum, and the project’s team in February 2023. However, on the same day that Paul offered a buyback plan for investors in January 2024 — an act lawyers suing…
A closely followed crypto analyst says that the top altcoin Ethereum (ETH) may be gearing up for a swing to the upside. In a new video update, crypto strategist Jason Pizzino tells his 329,000 YouTube subscribers that one indicator suggests the leading smart contract platform is gearing up for rallies. According to Pizzino, ETH’s average true range (ATR) – an indicator that measures volatility by showing an asset’s trading range over a specified period – is hinting at an approaching breakout. “Ethereum [is] looking pretty good – putting in lower highs and higher lows at the moment. We have covered…
Jeffrey Huang, a Taiwanese-American singer and entrepreneur going by Machi Big Brother on X, has been doubling down on $FRIEND. As per Lookonchain (a famous on-chain analytics platform), the entrepreneur has been purchasing the $FRIEND coin since the 3rd of last month. The analytics company disclosed his $FRIEND buyout on its official account on the X. Machi Big Brother(@machibigbrother) has been buying $FRIEND since May 3.He has spent 4,975 $ETH($15.6M) to buy 8.6M $FRIEND at an average price of $1.81.At the current price, he lost $7.9M on $FRIEND!https://t.co/j5UByo2jpN pic.twitter.com/tiew7f377A — Lookonchain (@lookonchain) June 8, 2024 Machi Big Brother Makes Frequent…
The Nigerian Securities and Exchange Commission (SEC) has issued new amendments to its rules on Digital Asset Issuance, Offering Platforms, Exchange, and Custody. The updated regulations are intended to improve the regulatory framework and ensure it is comprehensive and responsive to crypto’s unique challenges. The SEC emphasized the need to adjust its rules to better align with the market’s current realities. To facilitate this transition, the SEC has introduced a special window for onboarding Virtual Assets Service Providers (VASPs) through the Accelerated Regulatory Incubation Programme (ARIP). Related: Nigerian SEC proposes hefty fee increase for crypto exchange registration This initiative aims…
Bitcoin miners are seeing an influx of investor interest following Core Scientific’s AI deal with CoreWeave, the report said. Iris Energy is best positioned to take advantage of the growing HPC/AI opportunity. Investors are waking up to the alternative use cases for mining facilities and the value of power access. The bitcoin (BTC) mining sector is attracting a wave of investor interest following Core Scientific’s (CORZ) deal with artificial intelligence (AI) company CoreWeave, JPMorgan (JPM) said in a research report on Monday. The bank notes that the total market cap of the 14 miners it tracks has grown by 22%,…
In a display of crypto market’s potential, the total net inflow of Bitcoin spot ETFs on May 22 reached a record high of $154 million, as annotated by SoSoValue data. Remarkably, this marks the eighth consecutive day of net inflows into these funds, signifying a sustained investor interest in Bitcoin through regulated financial instruments. BTC/USD 24-Hour Chart (Source: CoinStats) As of press time, Bitcoin (BTC) is trading at $69,558.17, reflecting a modest increase of 0.34% compared to the previous day. Despite this slight uptick, Bitcoin remains 5.84% below its all-time high. Additionally, the current market capitalization is $1.37 trillion, reflecting…
Ethereum price struggled to climb above the $3,550 resistance and trimmed gains. ETH gained bearish momentum alongside Bitcoin and tested the $3,385 zone. Ethereum is trimming gains from the $3,550 resistance zone. The price is trading below $3,500 and the 100-hourly Simple Moving Average. There is a key bearish trend line forming with resistance near $3,465 on the hourly chart of ETH/USD (data feed via Kraken). The pair could gain bearish momentum if it dips below the $3,385 and $3,350 support levels. Ethereum Price Dips Further Ethereum price struggled to start a fresh increase above the $3,550 zone. ETH followed…