Author: NBTC

Ethereum’s price has remained under significant pressure over the past month, yet staking activity has surged. On-chain data shows a notable increase in the amount of ETH locked in staking contracts, even as the altcoin struggles to regain upward momentum. ETH Staking Grows While ETF Outflows Hit $524 Million Since plummeting to its year-to-date low on February 16, the amount of staked ETH has risen. With 33.98 million ETH currently locked in staking contracts, this figure has gone up by 1% over the past month. ETH Total Value Staked. Source: CryptoQuant This has happened despite the significant drop in ETH’s…

Thomas John “T.J. Stone” Sfraga was sentenced in federal court for scamming real estate and crypto investors through a business inspired by the 90s TV show Seinfeld. According to a press release from the U.S. Attorney’s Office, Sfraga was sentenced to 45 months in prison and ordered to pay nearly $1.4 million in forfeiture to the state. The restitution amount will be announced at a later date. Sfraga pleaded guilty to wire fraud charges in May 2024. He reportedly convinced multiple victims to invest in a fake crypto project called “virtual wallet.” He promised investors returns as high as 60%…

“Hive Digital Chairman Frank Holmes stated that the company expects to expand its capacity by over 400% with its initiatives in Paraguay, a country that offers ample hydroelectric energy for the company’s operations. Hive Digital Hypes 400% Expansion in Paraguay Hive Digital, one of the largest public bitcoin miners in the world, has announced big plans regarding its activities in Paraguay. At The Street’s Roundtable, Hive Digital Executive Chairman Frank Holmes revealed the upcoming steps of the company in the South American nation, known for its abundant hydroelectrical resources. Holmes explained that the operation would expand its operations extensively, taking…

Following the collapse of the Libra memecoin, investors partially withdrew from the altcoin market, and Bitcoin’s market dominance increased to nearly 60%, reaching its highest level in recent years. This marks a 5% increase over the past month and a 12% increase over the past year, suggesting that investor sentiment is shifting towards BTC. Market analysts point to the growing institutional interest in Bitcoin as one of the key drivers of this dominance. Hina Sattar Joshi, Director of Digital Assets Sales at TP ICAP, said that Bitcoin’s growing dominance reflects the consolidation of institutional sentiment and the growing influence of…

Following two problematic tests of Ethereum’s upcoming Pectra upgrade, the network’s core developers decided on Thursday to create a new testnet to demonstrate the code update a final time before deployment. “A new testnet, Hooli, is going live Monday to wrap up Pectra testing,” said Tim Beiko, who coordinates the ecosystem’s core developers at the Ethereum Foundation, in an X post following a developer call on Thursday. Pectra will be tested on Hooli on Wednesday, March 26 — when the test chain will be upgraded to the new version of Ethereum and evaluated for performance and stability. Pectra includes several…

Ripple’s USD-pegged stablecoin, RLUSD, has reached a total supply of 120 million just two months after its official launch. The token associated with both Ethereum and the XRP Ledger (XRPL) has increased and is actively used in the cryptocurrency market. Blockchain data firm CryptoQuant noted that the supply expanded, which led to the upgrade. At first, stablecoins exhibited more activity on the Ethereum blockchain. However, the trend of adoption has shifted over time to select XRPL, reflecting the relatively cheaper fees of the transactions. Adoption and exchange listings The credibility of RLUSD is boosted through multiple listings on the exchange…

Galaxy head of research Alex Thorn believes the GENIUS Act could favor Tether by allowing it to operate under relatively flexible conditions. Thorn assessed that the bill would open a pathway for Tether to register onshore but would not require it to do so to continue operations. Limited restrictions for offshore issuers Based on the bill’s current text, if Tether chooses not to register under the new framework, it would not be violating any laws. Under the bill’s current language, the primary restrictions on non-registered stablecoin issuers like Tether would include interbank settlement prohibitions and marketing their tokens as “stablecoins”…

Officials of Thailand’s Central Investigation Bureau (CIB) seized 63 illegal crypto mining machines on Friday, according to a report by The Nation. The illegal crypto mining rigs, worth around 2 million baht ($60,000), were found in three abandoned houses in the Pathum Thani province. Officials conducted a raid after locals of the region complained about unidentified individuals stealing electricity from the region’s utility poles and transformers. The locals suspected that the stolen electricity was being used for cryptocurrency mining operations hidden in abandoned buildings. Crypto mining requires massive amounts of electricity. Authorities estimate that the illicit mining rigs caused losses…

Bitcoin price started another decline below the $96,800 zone. BTC is retesting the $95,500 support zone and might struggle to recover losses. Bitcoin started a fresh decline from the $98,000 zone. The price is trading below $96,500 and the 100 hourly Simple moving average. There is a key bearish trend line forming with resistance at $96,400 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could start another increase if it stays above the $95,000 zone. Bitcoin Price Dips To Support Bitcoin price failed to clear the $99,000 and $100,000 resistance levels. BTC formed a…

In a surprising development that has intrigued cryptocurrency analysts and investors alike, a wallet linked to Ethermine that has been inactive for a significant period suddenly resurfaced. After three years of minimal activity, this seven-year-old wallet initiated a substantial transaction by withdrawing 2,692 Ethereum (ETH), valued at approximately $5.01 million. This withdrawal was executed on the cryptocurrency exchange OKX, marking one of the most notable reactivations of an old wallet in recent memory. A 7-year-old wallet linked to #Ethermine just returned after three years of partial dormancy, withdrawing 2,692 $ETH ($5.01M) from #OKX.Follow @spotonchain for more insights now!https://t.co/uApRmU34He pic.twitter.com/xlfaigxvdf —…