Author: NBTC

Silicon Valley venture giant Andreessen Horowitz (a16z) made news last year when it announced that it was wading into deep tech research – switching off its investor cap to become a part-time computer science researcher and builder. On Tuesday, the firm unveiled some of the first fruits of that foray with the release of an open-source code implementation for “Jolt,” its zero-knowledge virtual machine (zkVM). In addition to positioning a16z as a bona fide research and development firm, the new code could help blockchains – and some of a16z’s own portfolio companies – scale their operations. Virtual machines, colloquially known…

Shiba Inu (SHIB) has seen a skyrocketing increase in weekly burn rate, rising by 6,478%. This dramatic growth occurs as the burn rate of SHIB tokens explodes, igniting a frenzy of investor interest and catapulting the dog-themed token into the spotlight of the cryptocurrency market. According to the Shibburn X account, the past seven days have seen a total of 14,238,113,469 SHIB tokens burned, marking a 6,478.69% increase in the weekly burn rate. HOURLY SHIB UPDATE$SHIB Price: $0.00003507 (1hr 0.61% ▲ | 24hr -1.59% ▼ )Market Cap: $20,633,157,555 (-1.62% ▼)Total Supply: 589,276,901,278,213TOKENS BURNTPast 24Hrs: 68,589,040 (-99.5% ▼)Past 7 Days: 14,238,113,469…

In a recent blog post, PancakeSwap, a leading decentralized exchange, announced its collaboration with Stryke, formerly known as Dopex, to launch CLAMM Options Trading. This move not only enhances the trading market within the DeFi space but also marks a robust step in integrating robust options trading protocols with PancakeSwap’s trading platform, enhancing its v3 pools. PancakeSwap Boosts Its Option Trading Sector PancakeSwap has partnered with Stryke (formerly known as Dopex) to launch CLAMM Options Trading, marking a notable advancement in the decentralized finance (DeFi) sector. This new offering enhances the creation of on-chain options liquidity, permitting users to effortlessly…

Along with a post-peak Bitcoin price drop, the red-hot market for spot Bitcoin ETFs is apparently cooling as well. Bitcoin now is trading well below its 2021 all-time high of $69,044 despite flipping the market cap of silver and skyrocketing to new levels above $73,000 per coin last week. One reason? The massive amounts of capital still flowing out of Grayscale’s Bitcoin Trust (GBTC). The new exchange-traded fund (ETF) evolved from an essentially closed-end fund that had been available for years. As an ETF, it is easier for investors to redeem their shares and take home their gains, and they…

In 2024’s largest crypto raise so far, Monad Labs, the firm behind the upstart layer-1 network Monad, secured a whopping $225 million in funding on Monday from a round led by crypto venture juggernaut Paradigm. The raise, which was also supported by crypto VC Electric Capital and the tech investment firm Greenoaks, constitutes a significant show of faith by crypto mainstays that Monad—which has yet to launch—will become a speedy, affordable, and dependable decentralized finance (DeFi) alternative to both the Ethereum ecosystem and layer-1 networks like Solana. Founded in 2022 by Jump Crypto alum Keone Hon, Monad is an Ethereum…

Due to the ongoing meme coin frenzy, DEXs on the Solana network have taken up the majority of trading volume over the past 24 hours. According to CoinGecko, Solana-based decentralized exchanges (DEXs) accounted for most trading volume over the past 24 hours. The top three were Raydium, Jupiter, and Orca. Raydium’s volume in the last 24 hours was $2.2 billion, almost double that of Uniswap V3 on Ethereum. Weekly DEX volume on Solana has been increasing relative to Ethereum for nearly four months. Currently, the weekly DEX volume on Solana divided by the weekly DEX volume on Ethereum is 29.4%,…

The CEO of Coinbase is revealing what he thinks the most important use cases for cryptocurrencies are. In a new Coinbase blog post, Coinbase CEO Brian Armstrong attempts to answer the question “what is crypto even useful for?” First, Armstrong says that out-of-control money printing has caused an increasing level of economic inequality via inflation and stagnation, creating a need for a new financial system. “For over 50 years, a familiar pattern that we’ve seen throughout history has played out in the US: the government spends more than it earns because it can print money for ‘free’, and years or…

NFTs aren’t for everyone. In the years since non-fungible tokens first entered public consciousness there has been a fierce backlash against what is essentially just a way of authenticating data. Part of this negativity was as a response to the gross financialization and speculation around these tokens, and environmental concerns that have since basically been resolved by Ethereum’s switch to proof-of-stake in 2022. This is an excerpt from The Node newsletter, a daily roundup of the most pivotal crypto news on CoinDesk and beyond. You can subscribe to get the full newsletter here. However, the general public’s distaste of NFTs…

Since Ethereum’s transition from proof-of-work to proof-of-stake, some have suggested this makes ETH, or at least staking ETH, a security. These arguments don’t stand up to scrutiny. Properly understood, staking ETH is a technical service to ensure transactions on the Ethereum network are processed properly and securely, rather than as an investment subject to securities laws. This is the case even where third parties, like node operators or exchanges, facilitate the staking of ETH. Stakers’ expectations of profit come from staking rewards and the market for ETH, not the administrative and technical services provided by third parties. The legal framework:…

A newly released Policygenius survey showed that younger Americans are almost as likely to own crypto as real estate. According to the survey, which was commissioned in October of last year, 21% of the millennials and Gen Z’ers surveyed were almost as likely to own crypto as the 20% who own real estate. Real estate has been a difficult market for younger generations to break into in the last few years — following a pandemic boom — as interest rates soared and median home prices made the American dream of buying a house less realistic. Of those surveyed, 10% of…