Author: NBTC
It’s raining options, CoinDesk said last week, pointing to growing demand for derivatives tied to bitcoin (BTC) and other cryptocurrencies. Now, additional evidence has emerged in the form of record activity on decentralized finance (DeFi), which offers unique and programmable onchain options, perpetuals, and structured products. The total dollar value of crypto tokens locked (TVL) on Derive has risen past $100 million, alongside a record-setting trading volume and monthly active traders. “Derive.xyz’s latest market insights reveal remarkable growth and heightened activity, with its total value locked surpassing $100 million for the first time, amid record-setting weeks for trading volume and…
After struggling for months, Ethereum finally broke the $4,000 barrier on Dec. 7 on the back of increased accumulation from retail investors. Ethereum (ETH) touched a local high of $4,100 over the weekend and has been consolidating close to that level over the last two days. The leading altcoin faced a mild 0.8% correction in the past 24 hours and is trading at $3,950 at the time of writing. ETH price | Source: crypto.news The asset’s market cap is hovering at $475 billion. Ethereum recorded a 21% rise in its daily trading volume to $24.5 billion. Ethereum’s price surge came…
Shiba Inu’s ecosystem team takes a moment to appreciate its developers for transforming SHIB into a utility token. The team also invited members of its community to recognize and celebrate Shiba Inu’s developers for their remarkable contributions. Devs Transform SHIB From Memecoin to Utility Token Furthermore, the team attached a meme to the tweet demonstrating how the developers have addressed the claim that Shiba Inu is just a memecoin. Notably, it highlighted some key projects within the Shiba Inu ecosystem, indicating that Shiba Inu is no longer a memecoin. They include Shiba Inu’s Layer-2 blockchain Shibarium, ShibaSwap decentralized exchange, the…
Gemini Foundation, a subsidiary of Gemini cryptocurrency exchange, launches a new perpetual contract for Shiba Inu (SHIB). The crypto trading platform announced the development in a blog post today, noting that its users can trade the Shiba Inu perpetual contract across select derivatives-enabled jurisdictions. Per the announcement, the Shiba Inu perpetual contract is denominated in Gemini Dollars, which suggests that users can trade the SHIB contract against GUSD. The exchange offers a leverage of up to 100x, allowing users to capitalize on market opportunities with small funds. In addition to Shiba Inu, the Gemini Foundation launched new perpetual contracts for…
Unmarshal has recently collaborated with DeGuardVPN to revolutionize the approach toward decentralized VPN solutions. The collaboration merges Unmarshal’s sophisticated data indexing solution with DeGuard’s Web3 VPN solution and aims to deliver better analysis, clear visibility, and protection of individual sensitive information. Another one 🤝Unmarshal partners with @DeGuardVPN to redefine data transparency in decentralized VPNs! 🛡️This partnership integrates Unmarshal’s advanced data indexing with DeGuard’s Web3 VPN, enhancing analytics, transparency, and security for privacy-conscious users seeking… pic.twitter.com/gQaPZZRgtn — Unmarshal 2.0 | Mainnet⌛️ (@UnmarshalAI) December 9, 2024 Strengthening Web3 Privacy Solutions With Unmarshal Through the cooperation, the two sides aim to promote the…
In a dramatic development, a crypto whale reportedly panic-sold 800 $BTC at a value of $48.5M, after a recent plunge in Bitcoin’s price. As per the data from Lookonchain, a prominent on-chain analytics provider, the respective whale’s movement has been going through scrutiny since the 19th of June when it started accumulating Bitcoin in huge numbers. The analytics provider offered the details of this development on its official X account. This whale panic-sold 800 $BTC($48.5M) again after the $BTC price dropped!Since June 19, this whale has accumulated 11,659 $BTC($727M) at $62,362, and sold 10,345 $BTC($619M) at $59,847, losing ~$26M, and…
PancakeSwap’s “head chef” declared that the BSC-based DEX is retaining the deflationary tokenomics for its native CAKE token. The announcement comes as other DEXs are trying new incentives for staking their native assets. The leading DEX on Binance Smart Chain is making a return amid a general DeFi recovery, and it shared that it will retain CAKE as a deflationary token to retain its value. The DEX decided against using CAKE as an incentive token, instead renewing its tokenomics based on regular burns and deflation. CAKE has a 1-2% annual burn rate and a negative net growth in the past…
Ethereum is testing resistance near $4,000, with the potential to rise to $4,200 if broken. Whale investor sells 11,638.9 ETH for $46.4 million, securing a 96% return. Ethereum is currently testing strong resistance near $4,000 and is trading at $3,890. If it breaks above this level, the price could target $4,200. Conversely, a breakdown below $3,800 may see prices retreat to $3,600. The RSI, currently at 67.23, reflects strong bullish momentum without signaling overbought conditions. Its 14-day average RSI of 68.55 confirms consistent strength. The moving averages further support a bullish outlook. The 9-day EMA at $3,836.57 recently crossed above…
SYDNEY – Immutable has reached a new milestone in Web3 gaming, celebrating the success of RavenQuest, a flagship MMORPG, and the launch of Chapter 2: Perpetual Rewards. This marks a significant step forward in the evolution of Immutable’s Main Quest rewards system and sets the stage for a more engaging and rewarding experience for players.—The Next Evolution in Rewards: Perpetual RewardsImmutable’s Main Quest has already set the bar high for Web3 gaming rewards, and now, with the introduction of Perpetual Rewards, players will be able to unlock consistent, ongoing rewards. Starting in January 2025, gems will become exchangeable for weekly…
Coinbase has added 34 tokens to its listing roadmap in 2024, with meme coins making up 20% of the total, reflecting the exchange’s cautious approach despite the meme coin craze. As a publicly traded company, Coinbase‘s 2024 strategy for listing tokens seems to reflect a more measured approach compared to its rivals, with a selective focus on high-market-cap meme coins and a preference for Ethereum (ETH) and Base (BASE) networks rather than Solana (SOL) or BNB Chain (formerly Binance Smart Chain). https://twitter.com/ai_9684xtpa/status/1866367898501206452 In an X thread on Dec. 10, an on-chain analyst under alias “ai_9684xtpa” revealed that in 2024, Coinbase…