Author: NBTC
The value of Ether (ETH) has been on the rise lately, and so has Ethereum’s open interest. While this signals bullish sentiment from traders, it also indicates impending volatility and calls for caution in the market. According to CryptoQuant analyst Burak Kesmeci, Ethereum’s open interest data has increased by almost $1.5 billion in the past three weeks. Ethereum Open Interest Soars Open Interest refers to the number of open long and short positions for financial instruments. A higher open interest value signifies increased confidence in an asset’s price trajectory, while a lower value is a sign of uncertainty. At the…
Andreessen Horowitz’s (a16z) crypto investment arm has spearheaded a $9 million investment in the decentralized physical infrastructure network (DePin) project Daylight Energy. This initiative marks a pivotal advancement in decentralized solutions for the energy sector. It aligns with the growing trend of integrating blockchain technology to revolutionize grid management and energy distribution. Daylight Energy Launches Its Testnet Following the a16z Investment Daylight Energy will utilize the newly acquired funds to enhance its testnet. This testnet pioneers a decentralized protocol that transforms energy grid operations through distributed energy resources (DERs). The project tackles crucial inefficiencies in the current system by harnessing…
Binance.US, the U.S. arm of the global crypto giant, found itself in hot water after publishing a blog post with a glaring error about Cardano’s current development stage. The post mistakenly claimed the blockchain platform, known for its focus on scalability and sustainability, was in its third phase of upgrades, when it was actually well into its fifth, dubbed “Voltaire.” This flub sparked a flurry of corrections from Cardano enthusiasts, highlighting the need for accuracy in the fast-paced world of crypto. However, as pointed out by Cardano Spot, an application focused on the L1 blockchain, in a post on social…
Karak is expanding its technical vision of universal security by integrating Space and Time as a ZK coprocessor solution to power trustless slashing and rewards for Karak Distributed Secure Services (DSS). The integration will enhance the security, speed and cost-efficiency of the existing Karak restaking offering. Restaking innovator Karak integrates Space and Time as ZK Coprocessor Space and Time (SxT), a pioneering verifiable compute layer that scales zero-knowledge proofs on a decentralized data warehouse, scores a long-term strategic partnership with Karak, a Pantera-backed security layer for Web3 use cases. Lots of exciting milestones to celebrate this week 🎉As of today,…
A mystery Bitcoin whale just sent 1,000 BTC—worth $61 million at present—to Coinbase after first receiving the coins almost six years ago, on-chain data shows. As tracked by Arkham Intelligence, the unidentified investor first received their coins in August 2018, when the stash was valued at just $6.68 million in total. Sending the coins to the exchange implies that they intends to finally sell, implying an 817% profit if they follow through. A Dormant Bitcoin whale awakens after 6 years. 😱 Wallet transfers 1000 BTC ($61.55M) to Coinbase Prime. What’s cooking?🤔#Bitcoin #Crypto pic.twitter.com/4HdJpgZ05I — AMCrypto (@AMCryptoAlex) June 28, 2024 The…
A big Ethereum (ETH) whale has just stunned the community with a sudden move. This development is notable as it comes at a time when ETH has witnessed a slight surge in its price. As the market is expecting more gains from the leading altcoin, this whale has ignited speculation in the community. According to Whale Alert, an Ethereum whale has transferred 12,215 ETH to crypto exchange Binance. The transfer is estimated to be worth around $41.2 million dollars. The ETH community is showing concern over this move because it appears that the whale is going to sell these coins.…
Bitcoin miner Riot Platforms’ stock is a buy due to its significant organic growth opportunities, H.C. Wainwright analyst Mike Colonnese said in a note. The Riot Platforms stock is down 34% year-to-date amid a broader correction for Bitcoin (BTC) and altcoins that also has crypto stocks down. But in a research note shared with crypto.news, Colonnese argues for the bitcoing mining stock to see further growth as it eyes expansion. He has reiterated a buy rating for RIOT with a $17 price target. Riot’s financial results Riot released its second quarter results on July 31, revealing it recorded substantial operational…
VeBetterDAO has seen the first-ever proposal on its platform for an app that introduces transparency into the distribution and use of B3TR tokens on the VeChain ecosystem. The proposal has received the 275,000 VOT3 tokens required to proceed to the next stage, with voting set to start in four days. Barely three weeks since it launched its mainnet, VeBetterDAO has witnessed another landmark development—its first-ever proposal from a community member. VeBetterDAO is an ecosystem on the VeChain network for apps that promote sustainable actions and assets. It allows any app to tokenize its sustainable actions and reward users with B3TR…
The Metaplex Foundation has unveiled a strategic deployment of its product suite on Sonic SVM, marking the first gaming Layer 2 (L2) solution on Solana. This move will allow game developers to leverage the advanced innovations that have positioned Metaplex as a leader in the digital asset protocol space on Solana. In a groundbreaking collaboration, Metaplex will deploy its on-chain programs and developer tools on the Sonic SVM chain. This joint initiative represents a significant milestone as it marks the first instance of Metaplex deploying its products beyond the Solana mainnet. The collaboration aims to foster the development of exceptional…
The Bitcoin ETF sector witnessed a net inflow of $12 million on June 27, 2024, marking the third consecutive day of positive yet modest net inflows. This trend indicates cautious but steady investor interest in Bitcoin-related financial products despite daily fluctuations in individual fund performances. Grayscale’s Bitcoin Trust (GBTC) saw an outflow of $11.4 million, returning to a pattern of net outflows after a brief period of gains. This volatility reflects the changing investor sentiment towards GBTC, which has been one of the major players in the Bitcoin investment space. 🚨 $BTC #ETF Net Inflow June 27, 2024: +$12M!• The…