Author: NBTC
Celebrating the meme season, Band Protocol’s co-founder, Soravis Srinawakoon suggested transforming the $BAND token into a memecoin by removing its core oracle function. In celebration of memecoin season, I propose we remove oracle function from @BandProtocol and turn $band into a memecoin, shall we? 🤔 — Soravis Srinawakoon | BAND (🅑) (@SSrinawakoon) March 11, 2024 The proposal, made on X/Twitter, sparked both amusement and discussion within the crypto community. The Band Protocol project joined the banter by supporting the idea, envisioning $BAND as the “first fully-featured interchain memecoin on Cosmos.” Some community members endorsed the move, emphasizing that the oracle…
Binance’s head of financial crime compliance Tigran Gambaryan reportedly pleaded not guilty to money laundering charges in a Nigerian high court on Monday before he was remanded pending trial. Despite Binance saying Gambaryan had no decision-making power at the company, presiding judge for the case reportedly ruled he can be considered a representative of the company under Nigerian law. Binance executive Tigran Gambaryan, who was detained by Nigerian authorities in February alongside a colleague, pleaded not guilty to money laundering charges at a high court on Monday, local outlets reported. Gambaryan was remanded until trial, according to reports, while bail…
A universal restaking layer designed by the Andalusia Labs team has emerged from stealth to launch its mainnet today. Karak is a risk management layer-2 blockchain solution that simplifies the process of providing economic security through restaking. The company is based in San Francisco and Abu Dhabi. It previously raised $50 million at a $1 billion valuation from investors including Coinbase, Mubadala — an Abu Dhabi Sovereign Wealth Fund — Lightspeed, Bain Capital, Pantera Capital, Framework Ventures and others. Raouf Ben-Har, the co-founder of Karak, told Blockworks that Karak was created to solve the problem of fragmented crypto-economic security in…
Mergers and acquisitions (M&A) financing activities in the cryptocurrency sector through the first quarter of 2024 are up 22% compared to the previous quarter, according to a research note from Architect Partners. In an announcement, the firm said, the uptick in M&A activity is good news, but still below the pace of the peak year 2022. Although the crypto sector’s deal activity has improved a bit more than the overall tech sector deal activity, in contrast to an observed decline in announced fintech deals last quarter. According to the firm crypto private financings by subsector shows that the trading infrastructure…
XRP has clinched the title of the best-performing digital asset among the top 100 by market cap. The token’s price soared to $0.7293 after a dramatic 18.9% increase in a 24-hour window. The Ripple-affiliated cryptocurrency has also experienced a surge in trading volume, which has topped a whopping $5 billion. Litecoin (LTC) comes in a close second place after adding 18.4%, according to CoinGecko data. XRP derivatives data Recent derivatives data reveal a robust bullish sentiment among traders in the XRP market. The trading volume surged by an extraordinary 348.07%, reaching a colossal $5.62 billion. Open interest, which indicates the…
Polychain made an undisclosed investment in Ritual, referring to it as a “multimillion dollar” amount. Ritual raised $25 million in November to address the centralized nature of artificial intelligence systems. AI has become an area of interest in the blockchain industry following the proliferation of AI-powered tools acquiring mainstream popularity. Blockchain-focused venture capital firm Polychain Capital topped up a $25 million funding round into artificial intelligence (AI) platform Ritual with a “multimillion dollar” investment. Ritual raised $25 million last November to address the centralized nature of AI systems. The investment was led by Archetype and included participation from Accomplice and…
New deep-pocketed entities have accumulated the native asset of the decentralized oracle provider Chainlink (LINK), according to blockchain tracking firm Lookonchain. Lookonchain says that eight different addresses withdrew $16.72 million worth of LINK tokens from Binance, the world’s largest crypto exchange. “It seems that whales are buying LINK! We noticed that eight fresh wallets withdrew 831,160 LINK ($16.72 million) from Binance in [two] days.” Lookonchain spotted the following wallets withdrawing LINK from Binance addresses: 0x64076fC5F5f83D04371a3Ee073595681899E1DB8 0x367E5d68935a3B3C7EdC0edB303EBf97b9B53B8D 0x45ec2C230115061ccE11184866AA2507F16c9b58 0xEA560ac7B1384AcCC675618e3b61b0A042187c93 0xe812302b1DFc20B1f99C069fd553d3E71DD98170 0xFa2dE5a6FfB5DFa68d5721432E748235B94D0152 0xCc6d2811aad0A576445B2DdD6EF2e9178f6C74Ee 0xB3f75aeb91f02C3B039E350Bdba33193c1c3f93F Over the last several months, Lookonchain has tracked “mysterious” whales, likely institutions, accumulating LINK. In February, Lookonchain said…
Investor interest in digital asset investment products remains strong as evidenced by the recent inflows into various digital asset investment products. According to a report by CoinShares, a total of $646 million poured into these vehicles, pushing the year-to-date inflows to an unprecedented $13.8 billion and surpassing the previous year’s total of $10.6 billion. Bitcoin continues to be the primary focus for investors, with inflows totaling $663 million. However, short-bitcoin investment products saw outflows for the third consecutive week, amounting to $9.5 million, indicating a minor capitulation among bearish investors. Enthusiasm in Spot ETF Start to Moderate Despite the overall…
Justin Sun, a prominent and somewhat controversial figure in the cryptocurrency world, has seen a significant increase in his total assets due to recent market rallies. As of now, Sun’s total assets are worth $1,287,907,754.26, an increase of $6.24 million today alone. Since last week, Sun’s assets have gained $95.90 million in value. However, its assets are $257.44 million lower compared to the previous year. A breakdown of Sun’s assets over $500,000 reveals a diverse portfolio: TRX: $282.65 million USDD: $280.03 million BTT: $179.80 million BTC: $108.95 million USDJ: $95.39 million STETH: $76.98 million STUSDT: $49.63 million TRX: $48.70 million…
The Bitcoin price has nearly reached the correction target of $60,000, as previously forecasted when it was around $71,700. The question now is whether it will remain at $60,000 or decline further. Bitcoin Doomsday: Has BTC Already Hit its Peak? Before delving into the analysis of the BTC price, it’s prudent to consider the worst-case scenario where Bitcoin might revert to its previous low of around $15,500. Bitcoin Price Chart. Source: Tradingview However, this outcome seems less likely given the current circumstances. Let’s explore a more realistic scenario. Bitcoin’s 17% Drop: Brace for More Downside? The Bitcoin price currently sits…