Author: NBTC
Decentralized finance (DeFi) firm Aave is arriving on Soneium, the Ethereum L2 blockchain linked to Japanese electronics giant Sony, the companies said on Tuesday. Decentralized finance, which shot to prominence during the so-called “DeFi summer” of 2020, is resurgent, amid a huge growth in stablecoins and crypto-backed lending. The integration of GHO, Aave’s decentralized overcollateralized stablecoin, into Sonieum is being explored for real-world use cases in payments, savings, and digital commerce, according to a press release. Soneium’s 7-million user ecosystem already includes Uniswap v4, Velodrome, Stargate, Lido, and native protocols like Kyo Finance and SuperVol. “Aave wants to be where…
The recent selloff in the broader crypto market has left Ethereum struggling to hold above its key support zones, with bulls attempting to stabilize after a sharp pullback. The asset’s trajectory remains under pressure as technical indicators show a mix of short-term relief and broader weakness. ETH price dynamics (Source:TradingView) Ethereum price today is hovering near $2,450, down over 3% on the weekly chart, and showing limited recovery after a volatile breakdown. The ongoing tug-of-war between buyers and sellers has brought heightened uncertainty and sparked renewed interest in why Ethereum price going down today despite a strong start to the…
The economic data expected to be released in the US has finally been shared: Average hourly earnings: +0.4% (expected: +0.3%) Nonfarm payrolls: +139K (expected: +130K) Annual salary increase: +3.9% (expected: +3.7%) Unemployment rate: 4.2% (expected: 4.2%) Private sector employment: +140K (expected: +120K) Manufacturing employment: -8K (expected: -5K) Average working hours: 34.3 hours Labor force participation: 62.4% (expected: 62.6%) According to LSEG data, employment growth expectations ranged from 75,000 to 190,000. In a Reuters poll, the market expectation was 130,000, a significant drop from the 177,000 figure released in April. The unemployment rate was expected to remain stable at 4.2%. Bank…
Crypto founder Edoardo Farina is reiterating his long-held view that 99% of XRP holders risk being priced out as inflation and economic pressures rise. In a recent disclosure, he claimed that owning more than 10,000 XRP is quickly becoming a luxury out of reach for the average person. He argued that XRP holders are increasingly forced to sell off their assets to cover basic living expenses as inflation rises and fiat currencies weaken. For context, with XRP worth $2.30 per coin today, acquiring 10,000 XRP requires a significant financial commitment of $23,000. This is a major hurdle in a global…
The X social media account for Marty Bent and Matt Odell’s popular podcast Tales From The Crypt (TFTC) earned 1.2 million views for a wildly inaccurate tweet about bitcoin (BTC). According to the podcasters, California “just passed” a bill to “seize BTC left idle on exchanges.” The misinformation claimed the state could somehow assert “unclaimed property” ownership “after three years of inactivity.” The post was entirely untrue. What actually occurred is far narrower and far less interesting. Assembly Bill 1052 passed the California State Assembly this week. It simply applies existing unclaimed property laws to digital assets on exchanges or…
Hey crypto enthusiasts! Important news from the South Korean crypto exchange giant, Bithumb. If you’re holding or trading Berachain (BERA) tokens on their platform, there’s a crucial update you need to be aware of. Bithumb has officially announced a temporary suspension of deposits and withdrawals for the Berachain (BERA) token. Why is Bithumb Suspending Berachain (BERA) Transactions? The primary reason cited by Bithumb for this temporary halt is to support an upcoming network upgrade for Berachain. Network upgrades are essential events in the life cycle of a blockchain project. They are implemented to introduce new features, improve performance, enhance security,…
A group of lawmakers has set out to make France consider Bitcoin mining, particularly as a means to manage its massive electricity system and strengthen its energy sovereignty. A legislative proposal to that end has been put forward in Paris, and its authors hope the government will accept to assess the potential of crypto-related activity in other areas as well. While countries around the world have either tried to suppress cryptocurrency mining, as was the case with China a few years ago, or let it grow, like the United States, for example, France is yet to make up its mind…
Botanix Labs has onboarded a couple of crypto industry heavyweights as node operators for its bitcoin layer-2 network. Mike Novogratz’s digital asset financial services firm Galaxy and crypto custody specialist Fireblocks are among 16 new node operators on Botanix, the company announced on Thursday. The operators have been onboarded and will be live once the Botanix mainnet launches later this quarter. With the creation of a federation of different entities running nodes, Botanix Labs is establishing its eponymous network as “decentralized from the start.” “The network will soon migrate to a dynamic federation to support hundreds of nodes, with the…
The price of several tokens tied to Ethereum-based projects in decentralized finance, or DeFi, spiked on Tuesday after the Securities and Exchange Commission signaled that it’s taking steps internally to become more accommodative of the emergent subsector. Ethereum was recently changing hands around $2,700, an 7.2% increase over the past day, according to crypto data provider CoinGecko. Uniswap, Aave, and Sky, were up 23%, 16%, and 15% respectively, rising to $8, $305, and $0.90. On Monday, SEC Chairman Paul Atkins said during a DeFi-focused roundtable in Washington, D.C., that the agency was working on an “innovation exemption” allowing companies to…
Ethereum plummets near the $2,400 mark as the Donald Trump and Elon Musk’s fallout rocks the crypto market as more major tokens get dragged down. According to data from crypto.news, the Ethereum price has dropped nearly 6% in the past 24 hours of trading. The second-largest token by market cap has been seeing red in the past few hours, dropping from a peak of $2,634 to as low as $2,408. At press time, ETH (ETH) is trading hands at a price of $2,456, barely recovering from the sudden price drop at about 2:00 AM UTC. The recent Ethereum price dip…