Author: NBTC
Grayscale, the world’s biggest digital asset manager, is currently grappling with the limitations of its Ethereum Trust (ETHE) in the era of Ethereum staking. Grayscale recently updated its ETHE disclosures, adding: “The current inability of the Trust to use its Ether in Staking and receive such rewards could place the Shares at a comparative disadvantage relative to an investment in Ether directly or through a vehicle that is not subject to such a prohibition, which could negatively affect the value of the Shares.” This addition comes on the heels of Ethereum’s successful Shanghai upgrade in April, which enabled stakers to…
USDT 24-hour transaction volume on the Tron Network hit $53 billion, surpassing Visa’s average daily volume of $42 billion. Visa’s first quarter 2024 trading volume was $3.78 trillion, highlighting the competition between traditional finance and digital currencies. USDT’s surge is driven by investors seeking stability amid Bitcoin’s price decline, emphasizing the resilience of stablecoins in volatile markets. Tether’s USDT has surpassed Visa in daily transaction volume, signaling a significant change in the financial landscape. The recent drop in Bitcoin prices is primarily responsible for the spike in USDT transactions on the Tron network. The 24-hour trading volume of $USDT on…
Mainnet v1.18.15 enhances scalability, stability, and performance for Solana’s blockchain. Significant improvements tackle network congestion, ensuring smoother transactions and operations. Enhanced security, metrics, and optimizations elevate Solana’s blockchain infrastructure to new heights. Amidst the meme coin craze and huge demand for platforms on Solana-based blockchains, the Solana team is preparing another major mainnet upgrade to strengthen the Solana blockchain. According to a post by Solana Status on June 10, 2024, the team has recommended the release of v1.18.15 for the mainnet upgrade. This upgrade is planned to resolve major congestion issues on the network mainly caused by the launch of…
Injective, an interoperable Layer-1 blockchain for decentralized finance (DeFi) applications, is eyeing diversification into the nascent Web3 gaming ecosystem. On Wednesday, Injective announced its partnership with DEGA, a top game builder platform that’s also deployed on Ethereum, Cardano and BNB Chain. Injective, a provider of a platform for dApps across decentralized exchanges (DEXs), prediction markets, and lending protocols, will leverage DEGA’s ecosystem to launch its next phase of development via Web3 gaming. With DEGA, game builders will be able to quickly design and publish games – a new era for GameFi, according to Injective. The Web3 gaming market continues to…
Four years ago, American citizens received stimulus checks from the government in the amount of $1,200 to help them recover from the financial losses incurred during the Covid pandemic, and investing this money was among the popular choices of the checks’ recipients. Indeed, the United States Internal Revenue Service (IRS) had issued the stimulus checks, or Economic Impact Payments, under the Coronavirus Aid, relief and Economies Act (CARES Act), and the first round amounted to $1,200 (and $500 more per each child). Investing in Bitcoin For those who chose to invest their $1,200 stimulus in Bitcoin (BTC) at the time,…
Ethereum has fallen to $3,480, a 3% slip in the past 24 hours. Traders at Wintermute told Decrypt that ETH appears to be range-bound between $3,200 and $3,400 as derivatives traders are likely profiting from an Iron Condor strategy. The firm added that Bitcoin has been similarly range-bound between $63,000 and $65,000. “Market consensus is these areas take importance as ‘lines-in-the sand’,” an analysts from the firm’s trading desk told Decrypt, “and I’m seeing traders lean on them to define risk.” An Iron Condor is a direction-neutral options strategy where traders benefit from the underlying asset staying range-bound until the…
Team Liquid, one of the most successful organizations in esports history, is teaming up with tournament platform Community Gaming to launch a $20,000 series of competitions this summer, the companies announced Friday. The North American series will feature four events split evenly between Teamfight Tactics and Hearthstone. Prize money will be paid out in USDC, a crypto stablecoin pegged to the U.S. dollar, on Ethereum layer-2 scaling network Base. The series aims to showcase the efficiency of crypto payments in esports. The ability for cryptocurrency to be used for automated prize money payments after events is often cited by proponents…
Polygon has unveiled Season 01 of its Community Grants Program to bolster projects building within the Polygon and Ethereum ecosystems. According to a press release shared with crypto.news, starting Jun. 11, the project will allocate 35 million MATIC to developers working on Polygon. For the first season, the funds would be distributed in MATIC due to the network’s ongoing token upgrade to POL. Subsequently, future grants will be distributed in POL. For projects to be eligible, they must either be building on Polygon or willing to migrate to the network. One of the goals of the grant is to ensure…
A Nigerian court in Abuja has dismissed the human rights suit filed against the Nigerian authorities by a Binance executive, Nadeem Anjarwalla. Anjarwalla, the regional Africa head for Binance, and Tigran Gambaryan, who heads Binance’s Financial Crime Compliance, were detained on February 28 after meeting with the country’s officials to settle regulatory disputes. Nigeria clamped down on cryptocurrency exchanges, with its central bank governor singling out Binance for public rebuke over alleged currency manipulation and illicit transactions. Anjarwalla, a Kenyan Briton, sued Nigeria’s national security adviser, Nuhu Ribadu, and the country’s anti-graft agency, the Economic and Financial Crimes Commission (EFCC),…
Recently, Axel Adler Jr., a CryptoQaunt author on the social media platform X, brought attention to an intriguing trend in the funding rates of Bitcoin. For over a year—specifically 413 days—the average 30-day moving average (30DMA) Funding Rate has remained in the positive territory. This positive streak, with the current rate at 0.006 and this year’s peak hitting 0.03, suggests sustained bullish sentiment among traders. Adler Jr. advises traders to switch to “spot mode,” hinting at a strategic shift to capitalize on potential market movements. Source: Axel Adler Jr on X Bitcoin Teases Breakout Amidst Static Resistance Despite the positive…