Author: NBTC
A closely followed crypto analyst is laying out Bitcoin’s worst-case scenario while also showing how BTC could shoot up to a new all-time high. In a new thread, pseudonymous crypto analyst Pentoshi tells his 865,000 followers on the social media platform X that the top crypto asset by market cap could dip to a price in the mid-$90,000s if it were to lose support around the $101,000 to $102,000 area. However, according to the analyst, demand for the flagship digital asset will be greater than all the BTC mined from all points, which in turn should eventually lead to a…
As Erebor fills the void left by the collapsed SVB, experts are warning about the potential risks of stablecoin integration with banking. Stablecoins are increasingly integrating with traditional finance, which presents both risks and opportunities. Amid the launch of a stablecoin-powered bank, Erbor, backed by Palmer Luckey and Palantir’s Joe Lonsdale, crypto is becoming increasingly exposed to DeFi. Mitchell Amador, CEO of the blockchain security firm Immunefi, shared his insights with crypto.news on this topic. According to Amador, the integration between banks and DeFi protocols carries several structural trade-offs. Notably, banks will gain access to more functionality but also become…
The third phase of the CBDC pilot will involve implementing tokenization solutions that allow customers to provide banks with visibility into their collateral assets in Brazil. This, in turn, would simplify the process of assigning credit within an onchain, open, and shared finance ecosystem. Central Bank of Brazil Seeks to Solve Onchain Credit in Drex’s CBDC Third Pilot Phase The Central Bank of Brazil has revealed the new direction that its current central bank digital currency (CBDC) pilot, drex, will take in the short term. Rogerio Antonio Lucca, executive secretary of the central bank, highlighted that the third and next…
Congress Sets Crypto Market Structure Hearing with Top CEOs: Ripple’s Brad Garlinghouse and other leaders will testify on digital asset regulation. CLARITY and GENIUS Acts Under Spotlight: Lawmakers aim to define crypto assets, split regulatory duties, and push for legal clarity in the industry. The US Congress has scheduled a hearing on crypto market structure next week with industry leaders set to testify, including Ripple CEO Brad Garlinghouse. The initiative is expected to influence future crypto legislation in the United States. Attorney John E Deaton shared a post on X (formerly Twitter), detailing the lack of clarity. Committee Hearing Set…
HeLa Space is excited to announce its groundbreaking collaboration with Onmi to revolutionize the future of entertainment. This strategic alliance aims to empower players by allowing them to experience an interactive world with Web3 adventure. In this interactive world, a new era begins where reality meets fantasy. HeLa Space, a platform for immersive experience powered by Web3, witnesses the news via its official X account. We’re excited to announce our newest collaboration with @onmi_ar!Onmi® (https://t.co/PqPpUibdCt) is a treasure map AR RPG with a rich, immersive storyline — set to become the next global go-to entertainment experience. 🗺️📱🎮Together, we’re unlocking a…
Richard Teng, the Binance chief executive officer, has spread the word about Binance rolling out a new offering to the platform’s institutional clients. The new product is called Binance Institutional Loans and, according to Teng’s tweet, it is not just an average credit line but “it reimagines how institutions access liquidity across their entire portfolio.” Binance to support institutions with loans To his X post Teng added a link to an article which explains in detail what the new Binance offer to institutions is about. The title claims that they are up to 4x leverage and “zero interest potential.”The new…
The International Monetary Association (IMI), China’s state-backed financial think tank, has published a remarkable analysis of Bitcoin’s role in the global reserve system. The IMI article states that Bitcoin is no longer just a speculative tool, but is starting to be positioned as a strategic reserve asset. IMI states that due to high US budget deficits, expansionary monetary policies and the continuous decline in real yields on US Treasury bonds, many countries’ central banks are turning to alternative reserve assets. The organization said that in this environment, new competitors have emerged against traditional reserve instruments such as gold, and that…
The recent launch of the xStocks platform enabled Solana to quickly achieve dominance in stock market tokenization. Solana has rapidly become a leader in stock-based real-world assets. According to the data analytics platform SolanaFloor, the launch of Backed Finance’s xStocks platform helped Solana capture dominance in tokenized stock trading. Notably, data from Dune Analytics shows that since xStocks’ launch on June 30, Solana has accounted for more than 95% of all tokenized stock trading volume. Currently, xStocks offers 60 tokenized assets on its platform, 55 stocks and 5 ETFs. Onchain stock token volume by blockchain | Source: Dune Analytics On…
Sotheby’s will auction off the largest known Martian meteorite on Earth later this month—and the iconic auction house is accepting Bitcoin for a piece of the red planet. The meteorite, known as Northwest Africa 16788 or NWA 16788, was discovered in Niger’s Agadez region in 2023 and weighs 54 pounds. It’s expected to fetch between $2 million and $4 million at Sotheby’s Natural History sale on July 16. “Sotheby’s has accepted cryptocurrency for select sales since 2021,” Cassandra Hatton, Vice Chairman of Science and Natural History, told Decrypt. “Given the global interest in rare meteorites and the tech-savvy audience they…
Key takeaways Ether is up by more than 6% in the last 24 hours and briefly hit the $2,600 mark. The cryptocurrency could rally towards $2,900 amid strong technicals. ETH surges 6% to hit $2,600 Ether (ETH), the second-largest cryptocurrency by market cap, is one of the top performers among the top 10 cryptocurrencies. The coin added more than 6% to its value in the last 24 hours and now trades at $2,598 per coin. The positive performance comes amid a strong recovery by the broader crypto market. Bitcoin is heading towards the $110k mark after adding 3% to its…