Author: NBTC
Welcome To Latam Insights Encore, a deep view of Latin America’s most relevant economic and cryptocurrency-based news last week. In this edition, we examine the possible outcomes of the war that Paraguay is waging on illegal (and now legal) bitcoin mining operators, and how this might make the country lose millions of dollars as miners seek alternatives in neighboring nations. Paraguay Stands to Lose More Than What It Hopes to Win With Its Current Bitcoin Strategy Paraguay started to be considered an attractive destination for establishing bitcoin mining operations in 2018 with its cheap electricity that mainly comes from hydroelectric…
Following the awakening of numerous dormant bitcoins in March, April was rather uneventful, with just 72 transfers from idle wallets dating between 2010 and 2017. To date, May has seen 32 transfers from vintage wallets, moving about 1,181 more bitcoin in the past two weeks than during the whole month of April. May Outpaces April in Dormant Bitcoin Wallet Awakenings The most recent batch of dormant bitcoin wallet transactions from 2013 has pushed May ahead of April by about 1,181.32 BTC, valued at $74.46 million, in terms of so-called ‘sleeping bitcoin’ activity. This term refers to transactions involving bitcoins that…
A survey by Grayscale and The Harris Poll indicates that US Securities and Exchange Commission (SEC) approval of a spot Ethereum (ETH) exchange-traded funds (ETFs) would likely boost American investment in the digital asset. Though the long-term performance of these ETFs is uncertain, the poll suggests their introduction will significantly advance the crypto market’s maturity and mainstream adoption. Ethereum ETF Will Drive Adoption The poll reveals that nearly one in four likely voters would consider investing in Ethereum if an ETF-based product were approved. This approval would increase their interest in Ethereum and other crypto assets beyond Bitcoin. US Investors…
According to a report by Standard Chartered, the market for tokenized real-world assets is projected to reach $30.1 trillion by 2034. This significant market growth highlights the increasing role of tokenization in transforming global trade and finance by enhancing liquidity, accessibility, and efficiency. The report emphasizes the shift towards integrating digital assets into mainstream finance, reflecting the broader adoption and scalability of blockchain technology and DeFi applications. Kai Fehr, Global Head of Trade, Standard Chartered, commented, “We see the next three years as a critical junction for tokenisation, with trade finance assets coming to the fore as a new asset…
Rapper Iggy Azalea’s MOTHER token on Solana saw a spark of trading demand over the weekend, surging to an all-time high price on Saturday—just days after it launched. And the musician, who has been broadly embraced by Crypto Twitter, continued her constant tweeting with a familiar-looking profile picture (PFP) in tow. Azalea started rocking a custom Mad Lads PFP on Friday, one day after the Solana project tweeted out a custom honorary avatar for her that was apparently based on a photo reference. Mad Lads is the most valuable Solana NFT collection by a wide margin, currently standing at over…
The upcoming US presidential election may spur bitcoin out of its current “consolidation phase,” according to Galaxy CEO Mike Novogratz. Crypto will likely stay politicized until more Democrats pivot their anti-segment stance, he argued, meaning a change in administration could be significant for the space. Novogratz said during a Tuesday earnings call that, following the approval of spot bitcoin ETFs and last month’s block reward halving, he believes bitcoin could keep trading between $55,000 and $75,000 in the near-term. The price of bitcoin (BTC) was at about $61,450 at 12:30 pm ET Tuesday. “I think that’s probably where we are…
Ethereum’s (ETH) price has barely pulled itself together after a devastating week, and investors seem to want to jump back in. However, looking at the market’s conditions, it would be wise to hold off for now and wait until the right buying opportunities are present. Ethereum Accumulation Is Not Ideal Ethereum’s price has just returned above $3,000, and many consider this an accumulation opportunity. However, despite the slight price rise, the broader market cues are still bearish. One of these is the fact that the most influential cohorts of any asset, the whales, are vanishing from the network. This is…
Wall Street analyst Linda Jones has suggested that Ripple could serve a role similar to the Federal Reserve in the anticipated new financial system. Jones expressed this sentiment in a recent edition of the Good Morning podcast. The discussion focused on the BRICS coalition’s efforts to break from the dollar standard and the potential impact on the U.S. economy. She argued that the BRICS coalition is not against the U.S. but against central banks and the dominance of a single currency that controls the world. She asserted that the coalition opposes the Federal Reserve’s control of the global economy via…
Following its last token unlock, Aptos will release another 11.31 million tokens, valued at approximately $103 million, on June 12, 2024. According to tokenomics platform Token Unlocks, the blockchain platform plans to introduce 105.63 million tokens into the market between May 2024 and October 2026. The next scheduled unlock will occur on July 12, 2024, during which 11.30 million APT tokens will enter the circulation. Token Unlocks revealed that 35% of the tokens are allocated to the Aptos team and 28% to community members. Additionally, 25% are reserved for private investors, while 12% are held in reserve. Data from DataDrop…
One of the most prolific contributors to Bitcoin development warns that the leading blockchain network is on a dark path toward global regulation. In a blog post on Saturday, Matt Corallo said Bitcoin’s long-assumed mission to be a private, scalable, and trustless monetary tool is now being called into question, with years of effort failing to implement that vision in any practical sense. “Sadly, all the ideas for making Bitcoin (or any cryptocurrency) actually useful for transacting trend towards having some untrusted party in the flow of funds,” wrote Corallo. “We just haven’t cracked building cryptocurrency payment rails without an…