Author: NBTC
The “Blobs” introduced in Ethereum’s recent Dencun update made layer-2 (L2) blockchains boost the network scalability by over 11 times, according to a report by Brazilian digital bank Inter. Blobs are spaces within Ethereum blocks dedicated to receiving data from L2 chains, such as Arbitrum, Optimism, and Base. Ethereum’s L2 boost in scalability surpassed 1.000% since Dencun update Transactions per second (TPS) evolution over time. Image: Inter The report mentions a significant growth in Base’s transactions per second (TPS) count, which reached 300 to 400 TPS since Dencun. On average, L2 networks registered an average of 156.12 TPS since March…
Crypto trading volume surpassed $5.3 trillion in 2024’s first quarter, according to data from DefiLlama and The Block. Centralized exchanges (CEX) saw $4.8 trillion in volume in the period, while decentralized exchanges (DEX) amassed $523 billion. The CEX sector grew by 96% between quarters, while decentralized platforms captured 76.5% more volume. March was the best month in the quarter for centralized and decentralized exchanges, with $2.5 trillion and $264.3 billion in trading volumes respectively. When compared to the same period in 2023, DEX volumes are 82.5% up in trading volume, with CEX right behind with an 81% rise. Binance’s dominance…
Amidst growing concerns about national security and infrastructure vulnerabilities, China’s role in the cryptocurrency sphere has become a focal point of discussion. Historically, the U.S. has taken firm actions against perceived threats from Chinese technology companies such as Huawei and TikTok. The stakes are higher with cryptocurrencies, as Bitcoin mining operations could potentially serve as a hardware layer that’s deeply integrated into critical U.S. systems, including energy and telecommunications infrastructures. Chinese Firms Control ASIC Markets Bitcoin mining, the process of introducing new coins into circulation and securing the network, relies heavily on sophisticated computing systems. These systems require high-performance semiconductors…
As layer 1 chains become more meticulous, it’s clear that layer 1 protocols form the bedrock of blockchain technology. These blockchains are essential worldwide, ensuring fundamental security and agreement. The upcoming upgrades in Layer 1 also pave the way for developments in Layer 2 and Layer 3 protocols. Birdeye recently included Sui in their chain offerings alongside SOL and key EVM chains, showcasing their expansion into cutting-edge technologies with Sui transaction speeds and scalability. This move allows Birdeye to tap into newer horizons and expand its user base within an evolving network. Sui operates as a Layer 1 (L1) blockchain…
U.S.-listed spot bitcoin ETFs attracted record inflows last week, but the trend is slowing. BTC may drop to as low as $59,000 if ETF inflows fell short of expectations, 10x Research said. Spot bitcoin (BTC) exchange-traded funds (ETF) in the U.S. notched record inflows last week, but weaker demand in the next day or so could trigger the next leg down for bitcoin’s price, according to crypto analytics firm 10X Research. The 10 ETFs combined pulled in $2.6 billion in fresh funds in the five days ended March 15, per data from Farside Investors, but most of the net inflows…
Over 540,000 tokens were created as of early April, averaging 5,300 new tokens daily in 2024, according to a CoinGecko report. This rapid pace has already surpassed half of the 830,000 new tokens from the previous year, indicating a potential record-setting year for token launches. The proliferation of crypto, now exceeding 2.5 million, represents a 5.7-fold increase from the 440,000 at 2021’s close. The milestone of one million crypto was first reached in September 2022, ending the year at 1.15 million and registering a 159% year-on-year growth. The trend continued with a 72.3% increase to 1.98 million by the end…
Zodia Markets’ co-founder, Nick Philpott, praised Abu Dhabi’s crypto regulations, emphasizing the “remarkable” degree of interaction with regulatory authorities in the region. Philpott contrasted his experience in Abu Dhabi with the UK’s regulatory environment, noting the latter’s process is significantly slower with more complex requirements. “There were long delays in terms of entities getting their registrations with the Financial Conduct Authority under the anti-money laundering laws,” he told Cryptonews in an interview Thursday. Similarly, he noted that Ireland’s central bank had just as much of a cautious approach. While the number of approved entities may have reached the low double…
The conversations around Ethereum (ETH) and its data storage for optimal functionality have made it to crypto X with Polygon co-founder Mihailo Bjelic and Vitalik Buterin debating the possibilities. The conversation started with Bjelic posting a question in which he sought to know if developers are sure it is right to switch Ethereum to Verkle trees, given that its zk-fication is quite likely. Wading into the conversation, Vitalik Buterin said, “ZK-ifying keccak merkle patricia trees with worst case 300 MB witness sizes is a non-starter.” Notably, the Merkle Patricia trees form the current or primary data structure that is being…
Binance, one of the world’s leading cryptocurrency exchanges, announced that the latest project added to Binance Launchpool is Omni Network (OMNI). Binance Launches Omni Network (OMNI) on Launchpool OMNI is a layer 1 blockchain that aims to seamlessly integrate Ethereum’s rollup ecosystem into a unified system. During the four-day farming period, users will have the opportunity to stake Binance Coin (BNB) and stablecoin FDUSD in separate pools to obtain OMNI tokens. Farming activity will start at 03:00 on April 13, 2024. After the farming phase, Binance will officially list OMNI tokens on April 17, 2024 at 15:00. Trading pairs for…
Bitcoin has been projected to reach an extraordinary $5 million in value given the current trajectory of upcoming halving events and other market sentiments. Renowned analyst PlanB recently took to X to unveil his striking price predictions for Bitcoin, based on his widely-followed Stock-to-Flow (S2F) model. According to PlanB’s projections, the upcoming halving cycles are poised to usher in unprecedented price surges for Bitcoin. In the 2020-2024 halving cycle, PlanB anticipates Bitcoin’s price to hover around $50,000. Looking ahead to the 2024-2028 halving cycle, he foresees Bitcoin soaring to an astonishing $500,000. Meanwhile, in the subsequent 2028-2032 halving cycle, PlanB…