Author: NBTC

Ripple is a known institution that controls a significant amount of XRP’s token supply and regularly sells hundreds of millions of tokens on a monthly basis. In particular, Ripple unlocked 1 billion tokens in March and reserved 200 million of these new tokens to sell. The company locked the remaining 800 million in new escrow contracts for July and August 2027. However, the institution had already sold all 200 million plus 40 million XRP of its previous reserve by March 13. This is a huge and unusual sell-off in less than 15 days, which raises concerns and questions. The first…

Theta Labs has announced that it is closer to the launch of Theta EdgeCloud. The AI-backed model is in the final stages of completion, after which Theta Labs will announce the launch date. It will empower developers to deploy popular generative AI and large language models. This includes Llama 2 and Stable Diffusion. Also, developers will have the facility to deploy models that they have customized specifically to serve a definite purpose. Key GPU resources, including V100s, NVIDIA A100s, and T4s will power business use cases. Other AI models that will be launched with Theta EdgeCloud are Google Gemma-7B, ControlNet,…

The Bored Ape Yacht Club (BAYC) emerged as the top non-fungible token (NFT) collection on Tuesday as Solana and Ethereum collections took over the top rankings. BAYC sales reached US$1.76 million, after an increase of 80.81% in the 24 hours to noon ET. Tuesday’s sales boosts BAYC’s all-time sales to US$3.11 billion, the second-highest total in the industry, according to data from CryptoSlam. With this latest activity, Bored Ape Yacht Club maintains its position as the second-highest selling NFT collection in the all-time sales ranking, according to data from CryptoSlam. Solana collections dominated Tuesday’s top 10 charts, with four of…

Ethereum co-founder Vitalik Buterin has taken to the X social media platform to revisit his post about layer-3 scaling solutions amid intensifying debates within the cryptocurrency community. Buterin has noted that these solutions “don’t magically improve throughput,” but they can still be used for cost saving. That said, there are more efficient ways of cutting costs compared to layer-3s, according to Buterin. In his article, which was published a year and a half ago, Buterin singled out three main visions for layer-3s: customized functionality for different use cases, customized scaling in various forms, and weakly-trusted scaling in the form of…

The largest dog-themed cryptocurrency by market capitalization, Dogecoin, saw a massive wave in large transactions, hitting over $5 billion in the past day, suggesting activity by institutional players. The surge in large transactions coincides with a drop in the Dogecoin price, which is down alongside the rest of the crypto market. U.S. equities and cryptocurrencies slumped as another strong inflation report bolstered betting that the Federal Reserve will not be in a hurry to cut interest rates, even as some sectors of the economy show symptoms of slowing. Bitcoin fell to lows near $65,565 before slightly recovering. Dogecoin also fell,…

SubQuery has announced its collaboration with Japan Open Chain (JOC), marking a significant milestone in Japan’s blockchain technology and data management. This partnership introduces SubQuery’s advanced data indexing solutions to the JOC ecosystem, offering a powerful tool for developers and enhancing the Japanese blockchain market into a new increased innovation and efficiency. SubQuery Advances Japan’s Crypto Infrastructure Japan Open Chain is a leading-edge blockchain platform that works perfectly with Ethereum technology, specifically designed for business use. It’s run by a group of top Japanese companies and is perfectly suited for big business projects and government use, due to its strong…

The Bitcoin Market Value to Realized Value (MVRV) ratio has slipped into favorable territories amid the recovery push, hinting at a continuation of Bitcoin’s uptrend. After setting a new all-time high above $73,000 earlier this month, Bitcoin appeared to lose momentum as investors took profits amid the uptrend. The price of BTC dropped as low as $60,700 in the past week, with the bears calling for much lower prices. However, Bitcoin defied the odds, as it has for most of its history, having bounced back above $67,000 at the time of writing. This recovering bullish momentum, as well as a…

OpenSea, the leading NFT marketplace during the 2021-2022 bull run, is now in the middle of a transition to a new “OpenSea 2.0” launch with a much leaner team following layoffs last fall. And we’re starting to understand what that will look like as the once-dominant marketplace considers its evolution and next steps. On Tuesday, OpenSea announced support for the ERC721-C Ethereum NFT token standard, which was developed by video game startup Limit Break and enables project creators to enforce royalty fee payments on secondary market trades. It’s the latest move by OpenSea to adapt to changing tides in NFT…

Ethereum (ETH) is troubled as its metrics keep plummeting amid a broader market drawdown. At the time of writing, Ethereum is down by 5.90% in 24 hours to $3,338.93, a drop that has extended its decline over the past week to 8.65%. Ethereum’s uncertain growth path Commenting on the current outlook for Ethereum, top market analyst Ali Martinez shared data from crypto analytics platform IntoTheBlock (ITB) showing how Ethereum has no major support on its sliding path. Martinez noted that Ethereum losing its grip on the $3,460 support zone marks a major strain that puts the coin’s bulls in an…

In a significant move for the blockchain industry, TEN, an encrypted Ethereum Layer 2 network, has successfully completed a funding round, raising $9 million. This round was prominently led by R3, a powerful consortium consisting of 42 of the world’s most influential banks, known for their collaborative efforts in exploring blockchain technologies for real-world asset (RWA) tokenization and central bank digital currencies (CBDCs). TEN is engineered by Obscuro Labs and stands out as a roll-up platform specifically designed to tackle the prevalent challenges of encryption and scalability within blockchain applications. The platform’s connection with R3 is notable, with more than…