Author: NBTC
Cryptocurrencies are no longer just a novel payment method. With the rise of Web3, they sit at the heart of a new and growing ecosystem of decentralized applications that offer serious benefits to consumers in areas such as finance, video games, sports betting, the metaverse and more. For businesses that operate in the world of Web3, it has become essential for them to offer their users the simplest way to convert their fiat money into the cryptocurrency that fuels their app ecosystems. By doing this, they gain a significant competitive advantage over those that don’t. The best way to do…
According to a senior commodity analyst, Bitcoin’s (BTC) volatility puts it behind gold and the U.S. dollar in some investment perspectives. Meanwhile, BTC may crash harder than the stock market during a recession. Mike McGlone, senior commodity analyst for Bloomberg, spoke about the market’s volatility in a panel at Bitcoinday Miami this week. On that occasion, McGlone highlighted how Tether’s dollar stablecoin (USDT) trades twice as much as Bitcoin on a usual day. “Right now, I can have access to the U.S. dollar any place in the world from my phone [with] Tether. Tether is the number one trading token.…
Major Ethereum Withdrawal by “Smartest Money” A prominent Ethereum trader, known as “Smartest Money,” has recently withdrawn a substantial amount of 6,127 ETH (approximately $21.7 million) from Binance. This move has caught the attention of the crypto community, given the trader’s impressive track record. Over the past two years, “Smartest Money” has reportedly made a profit of around $20 million from trading . However, this trader has also been known to deposit ETH back to Binance in response to price drops, indicating a strategic approach to managing their assets. The guy who calls himself the smartest money withdrew 6,127 $ETH($21.7M)…
Pendle (PENDLE) price dips 3% to near key support area. A whale has deposited 755k PENDLE tokens on Binance. Arthur Hayes has also staked 1.65 million PENDLE, worth about $8.4 million. Pendle (PENDLE), the native token of the tokenization and future yield trading protocol Pendle Finance, has dropped 3% in the past 24 hours. PENDLE’s price dip comes as a major whale deposits a huge chunk of the token on Binance likely for profit. However, former BitMEX CEO Arthur Hayes has staked 1.65 million PENDLE until September. PENDLE price declines amid whale activity According to CoinGecko data, PENDLE price hovered…
The Conservatives, who have introduced a slew of pro-crypto policies in recent years, are expected to lose hundreds of seats when UK elections takes place on July 4. Crypto has taken a prominent role in the U.S. presidential campaign — with Donald Trump cozying up to Bitcoiners. But over in Britain, where voters head to the polls in a little over two weeks’ time, it’s fair to say digital assets haven’t been too much of a focus for the candidates. You could argue that it should be. The latest data from the Financial Conduct Authority shows that 9% of U.K.…
Justin Sun is one of the richest and most important individuals in the cryptocurrency ecosystem; however, his tendency to spread his vast wealth between a variety of different interconnected entities and addresses can make identifying the full extent of his activities very difficult. Protos has reviewed many of the addresses we believe to be controlled by Sun and found a variety of different assets on Tron and Ethereum being rapidly moved between protocols and exchanges. Ethereum 0x176F3DAb24a159341c0509bB36B833E7fdd0a132 is an address labeled as ‘Justin Sun 4’ on Etherscan. The address holds over 1,000 ether (ETH) worth more than $4 million, as…
Foundry Digital LLC has launched a new suite of products aimed at enhancing institutional bitcoin mining operations. Dubbed Foundry Hardware, this initiative introduces specialized equipment designed to improve mining system efficiencies and reliability. Foundry’s New Suite Aims to Optimize Institutional Cryptocurrency Mining Foundry Hardware‘s offerings include power supply units, immersion optimization kits, and control boards tailored to support various mining machine models. According to MK Sathya, Senior Vice President of Mining Services at Foundry, these products are engineered to streamline maintenance and adapt to diverse operational demands, ensuring miners can optimize their setups without extensive modification costs. “Our decision to…
Sophon and Aethir have declared the start of a strategic partnership that will link the 800,000 robust members of the Aethir decentralized computing community with the more than 3 million people who registered for Sophon’s pre-launch campaigns. Aethir will debut on Sophon as part of the partnership shortly after its mainnet launch, which is slated for Q3 2024. The projects will also carry out a node swap between the two communities, since both have recently finished very successful node sales to the public. Cloud gaming and AI/ML training are two GPU-intensive applications that are powered by Aethir, a distributed compute…
Il Capo of Crypto, a renowned cryptocurrency analyst, recently shared his theory on the potential impact of the upcoming elections on the crypto market. According to Il Capo, Donald Trump has already taken significant steps to gain votes from the crypto community. This strategy includes accepting campaign donations in cryptocurrencies, openly supporting the crypto industry, and promising to release Ross Ulbricht at the beginning of his term. Il Capo also predicts that Trump will announce significant tax benefits for crypto users. Data shows that 14.4% of American adults own or use cryptocurrencies. However, when potential voters who are cryptocurrency users…
This week, a couple of news items have been released that allow for positive predictions on the price of Ethereum and the upcoming ETFs: the first is the imminent stock market debut of the ETFs, and the second is the SEC’s decision to no longer consider it a security. The institutional question The positive forecasts on Ethereum and ETFs after the SEC’s renunciation The landing of the ETF SEC: The effect of ETFs on Ethereum price forecasts The institutional question Of the two pieces of news, the most important is the second, because as far as ETFs are concerned, it…