Author: NBTC
MakerDAO, the governing body of the popular DAI stablecoin, is contemplating a substantial allocation of 600 million DAI to the fast-growing USDe synthetic dollar stablecoin via Morpho Labs. This strategic move comes as Ethena Protocol, the platform behind USDe, prepares to launch its native ENA token airdrop. This decision reflects the organization’s confidence in USDe’s potential. Additionally, if the proposal comes to fruition, it might be a positive catalyst for Ethena, particularly its TVL growth. USDe Pools Give More Benefits to Users A comprehensive analysis by BA Labs, a member of MakerDAO’s advisory council, reveals strong user demand for USDe-backed…
Solana is experiencing robust growth amid the ongoing bull market run that has spread through the crypto industry. Indeed, Solana’s SOL token has emerged as one of the best performers, rising by around 30% during the past month to around $190. Solana’s DeFi Soars to All-Time High Solana’s decentralized finance (DeFi) ecosystem has flourished with the broader crypto market rally since the year’s outset. Data from DeFiLlama illustrates this trend, revealing an extraordinary surge in Solana-based decentralized exchange (DEX) activity. Over the past 24 hours alone, daily transaction volume has surpassed an impressive $3.6 billion, establishing a new all-time high.…
Taking an important step towards formalizing the cryptocurrency industry, Taiwan’s Ministry of Internal Affairs has approved the establishment of an industry association by the local crypto industry. This move marks the government’s progress towards regulating the domestically developing cryptocurrency space. Taiwan Approves Formation of Crypto Industry Association, Approaches Regulatory Framework The local cryptocurrency industry working group, which met last year to pave the way for the establishment of an industry association, announced today that it has received official approval from the government for its application. The green light from the authorities marks a pivotal moment for the cryptocurrency industry in…
Bitcoin briefly surpassed $71,000 on Tuesday, boosted by sentiment around possible new bitcoin-based institutional product offerings. The London Stock Exchange approved a marketplace for trading BTC and ETH exchange-traded notes (ETNs) in May, which led to strong upside momentum for BTC, traders said. Projects linked to Coinbase Ventures recorded the most gains, with an average 10% increase, while the CoinDesk 20, an index of the biggest tokens, rose 4.47%. Bitcoin (BTC) briefly topped the $71,000 mark early Tuesday before retreating as market sentiment grew on new bitcoin-based institutional product offerings and demand from traditional desks. Crypto markets started rising on…
Book of Meme (BOME), a memecoin launched about two days ago, gained popularity in a short time and, interestingly, managed to exceed the market value of $ 1 billion. With this rise, the project was listed first on Bybit and then on the spot market on Binance today. The altcoin, which was launched as a memecoin project on Solana, introduces itself as follows on its official website: “Introducing BOOK OF MEME: an experimental project set to redefine web3 culture by bringing together memes, decentralized storage solutions and degen shitcoin trading. This experiment attempts to capture the ever-evolving meme culture into…
Caroline Pham, a CFTC commissioner, has publicly criticized her agency’s legal action against the crypto exchange KuCoin. The Commodity Futures Trading Commission, in collaboration with the U.S. Department of Justice, charged KuCoin on March 26 for unlawfully operating a digital assets derivatives exchange. The charge by the CFTC has sparked controversy, particularly regarding jurisdictional boundaries between the CFTC and its sister regulatory body, the Securities and Exchange Commission (SEC). “Owning shares is not the same thing as trading derivatives,” Pham stated, expressing concerns that the CFTC’s complaint conflates the concept of investment securities with trading activities. According to Pham, the…
The bitcoin spot ETFs accumulated over $15 million on Monday, snapping a five-day outflow streak. Inflows could gather pace as the quarter draws to a close, one analyst said. The Nasdaq-listed spot bitcoin (BTC) exchange-traded funds (ETFs) registered inflows totaling $15.4 million on Monday, ending a five-day run of outflows, according to provisional data published by investment firm Farside. Fidelity’s FBTC led the inflows, collecting $261.8 million, followed by BlackRock’s IBIT, which amassed $35.5 million. Other funds like BITB, BTCO, EZBC, and BRRR received between $11 million and $20 million each. Meanwhile, Grayscale’s ETF (GBTC) continued to bleed money, losing…
Data shared by the Shibburn tracker of burn transactions shows that since last morning, a substantial chunk of meme coins has been destroyed. Meanwhile, the Shiba Inu price continues rebounding after hitting a major high recently. Close to 30 million SHIB burned to ashes The aforementioned data source shows that within the last 24 hours, joined efforts of the SHIB army have helped to transfer a total of 28,709,351 SHIB meme coins to an unspendable blockchain address and out of the circulation supply for good. This has been achieved thanks to six transactions targeted at SHIB burn wallets. The largest…
Bitcoin, which dropped to the level of $ 60,700, showed a great recovery last night and exceeded $ 70,000 once again. BTC, which was at $71,200 at the time of writing, increased by 4.6% in the last 24 hours. While this increase was affected by the fact that spot Bitcoin ETFs recorded net positive inflows after the strong outflows they experienced last week, a positive report came from QCP Capital. At this point, QCP Capital analysts think that the rise in Bitcoin may continue. Because analysts said BTC may be preparing to break all-time highs and rise towards the psychological…
Hoskinson said that the speculations suggesting that Hydra has been abandoned are rumors. There will be new papers for protocol enhancements in the next weeks as per Hoskinson. Charles Hoskinson has dispelled detractors’ accusations that Cardano Hydra has been disbanded, referring to them as FUD, or Fear, Uncertainty, and Doubt. Charles Hoskinson, founder of Cardano, has said that the speculations suggesting that Cardano Hydra has been abandoned are baseless rumors. According to the founder, there will be new papers for protocol enhancements in the next weeks, and the Cardano ecosystem is having a fantastic time with the community. Productive and…