Author: NBTC
Threshold Network has proposed further decentralizing BitGo’s Wrapped Bitcoin (WBTC) amid its recent challenges in the DeFi market. On Oct. 9, Matt Luongo, founder of the Bitcoin-focused venture studio Thesis, outlined the goal of expanding the number of signers involved in managing the WBTC asset using the Threshold Network. This proposal follows Threshold Network’s earlier offer to acquire WBTC. At the time, the platform proposed a deal valued at $36.4 million in T tokens to facilitate the transition of WBTC from centralized custody to Threshold’s decentralized model. WBTC’s custody model On Oct. 8, WBTC’s custody shifted to a structure spread…
As per data from IntoTheBlock, looking at the trading volume of NFTs, we can notice some stagnation since July. The level of activity in trading is essentially static, so the data raises the question of whether it is gearing up for a rebound or this is its new normal. NFT trading volumes have remained relatively flat since July. Will there be a resurgence? Or is the market settling into a new normal? pic.twitter.com/Hm47TcrqO5 — IntoTheBlock (@intotheblock) October 10, 2024 Market Overview: From Peaks to Flatlines According to IntoTheBlock, NFT trading has experienced a sharp fluctuating pattern towards the end of…
As the fear of further crypto capitulation in the near term significantly decreased, Bitcoin’s (BTC) price continued with the recent bullish sentiments. In the past 24 hours, Bitcoin price pumped over 3 percent to reach a range of about $64.082, before sliding towards $63,787 on Friday during the early Asian session. Consequently, the total crypto market cap gained by 2 percent to hover about $2.3 trillion at the time of this report. The altcoin industry, led by Ethereum (ETH) and Solana (So), signaled a potential bullish recovery in the coming weeks. Bitcoin Whales Accelerates Accumulation Pace In the past 30…
Decentralized finance (DeFi) protocol Ethena {{ENA}}, issuer of the $2.5 billion yield-generating USDe “synthetic dollar” token, announced Thursday it will invest its $46 million backup fund in BlackRock’s and Securitize’s tokenized fund BUIDL, Mountain’s USDM token, Superstate’s USTB and the new USDS stablecoin of Sky, formerly known as Maker. The protocol’s so-called Reserve Fund will allocate roughly $18 million in BUIDL, $13 million in USDS, $8 million in USDM and $7 million in USTB, according to a governance forum post. USDe generates yield by holding spot bitcoin (BTC) and ether (ETH) while shorting, or selling, equal amounts of BTC and…
German-based real-world assets (RWA) tokenization platform Finest has launched tokenized gold on the Cardano network. In an X update, the tokenization platform announced that the tokenized assets are now live on the Cardano network. Notably, they will boast an initial cap of $150,000 with the ticker for the native Cardano token being fGLD. Real-world asset tokenization (RWA) is a trending narrative in the crypto industry. It allows users to acquire tokenized forms of physical assets like gold, stocks, and real estate. Over $12.15 billion worth of RWAs are on-chain, with some notable crypto key players like BlackRock deeply involved. Tokenized…
STON.fi, the prominent decentralized exchange (DEX) on TON blockchain, recently unveiled Omniston during the London Hackathon. This new liquidity aggregation protocol aims to enhance the efficiency of token swaps within TON ecosystem. Omniston connects various decentralized exchanges (DEXs) and Requests for Quote (RFQ) resolvers to deliver the best possible swap rates for TON-based tokens. This development seeks to redefine accessibility and performance in decentralized finance (DeFi). STON.fi Optimizing DeFi Transactions Omniston is engineered to pool liquidity from multiple sources, which helps users achieve optimal swap rates. By integrating with DEXs and RFQ systems, Omniston addresses users’ challenges in the dynamic…
The broader Shiba Inu community removed over 2.37 billion SHIB tokens from circulation amid the burn campaign in September. Data from Shibburn, a community-driven Shiba Inu burn tracker, confirms that 2,378,422,108 (2.37 billion) SHIB tokens were burned in 131 transactions last month. 🔥🔥🔥 2,378,422,108 $SHIB tokens have been burned in the month of September with 131 transactions. #SHIB pic.twitter.com/5k5hw6jlyH — Shibburn (@shibburn) October 1, 2024 Monthly Burn Rate Soars 249% With Shiba Inu currently trading for $0.00001672, the dollar equivalent of the 2.37 billion tokens destroyed last month stands at $39,767 at the reporting time. Following the incineration of 2.37…
The United Arab Emirates (UAE) saw a 74% jump in the total value of DeFi transactions compared to last year, according to Chainalysis. Token value sent through DEX surged by 87%, rising from $6 billion to $11.3 billion. This shows its strength as a growing leader in the global crypto and blockchain space. In their October 9th podcast, Chainalysis CMO Ian Andrews talked about the impressive rise of DeFi services in the UAE. The region has higher DeFi adoption than the global average, with 32.4% of crypto transactions happening through DEXs. Why Young Investors In UAE Are Driving a DeFi…
XRP, the seventh-biggest cryptocurrency by market capitalization, has so far failed to experience a price rally despite the recent ETF buzz. The token is down more than 4% over the past 24 hours, failing to buck the broader bullish trend. As reported by U.Today, Bitwise, the leading cryptocurrency index fund manager, recently filed for an XRP ETF in Delaware. After some industry participants raised concerns about the authenticity of the filing, Bitwise confirmed that it was not a fake forgery. Ripple CEO Brad Garlinghouse has confidently stated that the approval of an XRP ETF was “inevitable” in the US. While…
Analyst and trader Kevin Svenson is leaning bullish on Bitcoin (BTC) amid a recovery that has seen the flagship crypto asset appreciate by around 10% over the last two weeks. In a new strategy session, Svenson tells his 79,300 YouTube subscribers that “things could get really really bullish” for Bitcoin as the Federal Reserve’s rate-cutting phase begins. According to Svenson, Bitcoin could hit a new record high over the coming weeks and months. “I think Bitcoin’s still set for new all-time highs in the coming Q4. I think it’s likely that in Q4 we hit new all-time highs. There may…