Author: NBTC
Dubai Customs has introduced a new blockchain platform to enhance transparency in commercial operations within and across its borders, Gulf News reported July 8. The initiative seeks to bolster collaboration between government entities and the logistics industry, aligning with the Emirate’s broader blockchain strategy for digital transactions and web3 adoption. Sultan Ahmed bin Sulayem, Chairman of the Ports, Customs, and Free Zone Corporation, announced the launch as part of Dubai’s ambitious blockchain strategy. Bin Sulayem expressed pride in the launch, noting it marks a significant advancement in enhancing the efficiency of business operations in Dubai. The platform is expected to…
In less than a month following its launch on the Bitcoin (BTC) blockchain, the Bitcoin Runes protocol has seen a staggering 99% drop in daily etchings, with numbers plummeting from a peak of 23,061 to just 157. Launched on April 20 to coincide with Bitcoin’s fourth halving event, the Runes protocol initially had robust activity. However, recent data from Dune Analytics has highlighted a sharp decline, raising concerns about its sustainability and the impact on miners’ revenues. Launched less than 30 days ago, the Bitcoin Runes has recorded a massive decline in activity. According to data sourced from Dune Analytics,…
In a recent tweet, renowned economist and cryptocurrency skeptic Peter Schiff predicted a significant drop for Ethereum, forecasting a crash to $1,500. Schiff noted that Ethereum is also breaking through key support levels, having previously said a similar thing about Bitcoin. Currently trading below $2,900, Ethereum has already fallen 30% from its March high. Schiff pointed out that the market appears to be reacting prematurely to the anticipated launch of an Ethereum ETF. “It looks like those buying the Ether ETF rumors couldn’t wait for the fact to sell,” he commented, suggesting that investors who had driven up the price…
The minutes of the FED’s June Federal Open Market Committee (FOMC) meeting were just released Wednesday evening. Here are important excerpts from the meeting minutes: The FED is waiting for ‘additional information’ to gain confidence about interest rate cuts. FED: Many workers say unemployment may increase if demand weakens. You can access up-to-date information by refreshing the page. FED Chairman Powell reiterated yesterday that the FED needed more data before truly easing monetary policy. Powell’s comments come as prices fell from 2.8% in April to 2.6% in May, the lowest in more than three years, according to the latest data…
Binance, the largest cryptocurrency exchange by trading volume, released its 20th Proof of Reserves, revealing the company’s asset reserves changes in July. Wu Blockchain, a crypto reporting platform run by Chinese journalist Colin Wu on X, has shared insights on Binance’s post, noting customer net balances of top cryptocurrencies like BTC, ETH, and USDT. Binance released the 20th proof of reserves (July 1). User BTC assets are 605,637, up 4.01% from June 1. User ETH assets are 4.711 million, up 1.01%. User USDT assets are 21.51 billion, down 2.54%.https://t.co/jGCPnwd2PR pic.twitter.com/JUCIRcCBLe — Wu Blockchain (@WuBlockchain) July 6, 2024 By releasing the…
Bitcoin mining was more profitable in June than May, the report said. Jefferies cut its Marathon Digital price target to $22 from $24. The bank also reduced its price target for Argo Blockchain ADRs to $1.20 from $1.50 and for the U.K.-traded stock to 9.5p from 11.9p. Bitcoin (BTC) mining was more profitable in June than May as the price of the cryptocurrency rose 2% and the network hashrate dropped by 5%, and as the market adjusted to the effects of the halving, investment bank Jefferies said in a research report on Monday. “June was a month of modest recovery…
Ethereum’s price has fallen over 15% below the crucial $3,000 range, indicating a bearish trend. A major whale dumped 26,600 ETH worth over $82.5 million. Amid recent market turbulence, Ethereum has struggled to regain its footing after a significant 15% drop below key support levels. The crypto’s price plummeted below the crucial $3,000 mark due to a broader market downturn triggered by BTC. Bitcoin payouts from the Mt. Gox bankruptcy, flooding the market with additional supply and exerting downward pressure on prices across various altcoins. A whale dumped 26,600 ETH, which was worth approximately $82.5 million at $3,102. This move,…
While many early LUNA investors have made no secret of their links to the infamous Ponzi – Mike Novogratz literally got a tattoo of the scheme on his arm — others have preferred to fly slightly more under the radar. Unfortunately for them, despite their best efforts, in April a Securities and Exchange Commission (SEC) expert witness managed to compile an exhaustive list of everyone who was able to acquire LUNA at a discount — most for $0.10 a token. Here, Protos has collected details about some of the better and lesser-known individuals involved in this early sale. All of…
Leading cryptocurrency exchange OKX is excited to announce the upcoming listing of Xraders (XR) on the spot trading market. This listing increases the trading options available to OKX users. OKX to List Xraders (XR) for Spot Trading Important Dates and Program: XR Deposits: Open at 09:00 on July 8, 2024 XR/USDT Spot Trading: Will start at 11:00 AM on July 11, 2024 XR Withdrawals: Available from 13:00 on July 12, 2024 Xraders is a decentralized expert development platform designed to empower investors with curated expert insights. Combining artificial intelligence (AI) modeling with community-driven validation, Xraders aims to provide actionable insights…
Bitcoin (BTC) mining saw an increase in profitability in June compared to May, according to a research report from investment bank Jefferies. Bitcoin Mining Profitability Rises in June This increase in profitability was driven by a 2% increase in Bitcoin price and a 5% decrease in network Hashrate as the market adjusted to the effects of the recent halving event. “June was a month of modest recovery from the immediate effects of the halving, which was most evident in May,” Jefferies analyst Jonathan Petersen said in the report. Network Hashrate, which measures the total computing power used to mine and…