Author: NBTC
Anchorage Digital, a prominent platform for institutional cryptocurrency banking, has recently conducted a major transaction involving Binance, one of the largest cryptocurrency exchanges. The firm withdrew around 10.7 million Ethena (ENA) coins, equating to approximately $4 million. This significant move marks the largest recorded trade of ENA by Anchorage Digital to date, elevating ENA’s status within the company’s asset portfolio. Contents hide 1 Why Has Ethena’s Value Dropped? 2 What Does This Withdrawal Mean for ENA? Why Has Ethena’s Value Dropped? Since its introduction in April 2024, the ENA coin has faced a sharp decline in value, dropping 43% from…
Payments firm Stripe is expanding its crypto products to layer-1 blockchain Aptos (APT) and stablecoin issuer Circle plans to bring its flagship stablecoin, USDC, to the network, ecosystem development organization Aptos Foundation told CoinDesk on Thursday. Until now, USDC has been available on the network only in a bridged version. The stablecoin company will also add Aptos to its Cross-Chain Transfer Protocol (CCTP), a tool that helps move USDC across different blockchains. This will help Aptos better connect with decentralized finance (DeFi) applications. Stripe will provide crypto on-ramp services on Aptos, aiming to help merchants move money between traditional payment…
Bitcoin is retesting the Tenkan line, a crucial level in Ichimoku analysis, which could lead to a bounce or a decline. The lagging span and trendline are providing significant support, indicating potential price stabilization for Bitcoin. If Bitcoin fails to hold the Tenkan line, the trendline and Kijun line are the next critical levels to watch. Bitcoin (BTC) is at a very sensitive level heading into a significant retest of key technical indicators. Experts are currently trying to identify which direction Bitcoin is likely to go up to its next significant shift. The cryptocurrency is now attempting to break the…
Ethereum (ETH) has maintained its position above the critical $3,000 level, currently trading at $3,108. While Bitcoin (BTC) has surged to an impressive $94,902 and altcoins like Solana (SOL) and Dogecoin (DOGE) have captured attention with their sharp gains, Ethereum’s performance has been more subdued, posting a modest 5% decline over the past week. Despite this short-term dip, Ethereum’s underlying fundamentals remain robust. Whale accumulation and surging decentralized application (dApp) activity are fueling optimism for a potential rally, with ETH projected to reach $3,800 to $4,200 by year-end. What’s driving Ethereum’s price outlook? Ethereum’s expanding ecosystem is a cornerstone of…
This is a segment from the Empire newsletter. To read full editions, subscribe. We’re just barely halfway through the month and CME’s crypto unit is already logging its best month since it launched bitcoin futures contracts way back in 2017. As many loyal Empire readers know, I like to look at CME data to understand where traders and institutions are putting their money. So, yesterday I caught up with Gio Vicioso, CME’s head of crypto. Turns out, the firm is averaging “a little bit over $10 billion a day across our futures suite.” “Just comparing November this year to last,…
TapSwap, one of the biggest players in the tap-to-earn networks in Telegram, has continued to disappoint users who have been waiting anxiously for its token generation event (TGE), where holders will be able to convert their coins into fiat currencies. TapSwap delayed TGE TapSwap is one of the leading players in the Telegram tap-to-earn industry, where it has accumulated over 70 million users globally. It is a Telegram mini-application that lets users accumulate TAPS tokens by doing simple tasks like clicking a button, watching its YouTube videos, daily logging, and referrals. TapSwap’s network has had a strong growth in the…
According to the latest information, FTX expects the restructuring plan to come into effect in early January 2025. The bankrupt cryptocurrency exchange will begin distributions to creditors in March at the latest. FTX and its affiliated debtors announced that they have completed their Chapter 11 reorganization plan, which is expected to go into effect in January 2025. CEO John J. Ray III noted that initial distributions will begin within 60 days of the effective date and require clients to create accounts, complete KYC, and submit tax forms. FTX provided the following updates on the expected timeline for distribution: In early…
Cryptocurrency analytics firm MarktQuant has detected a significant shift in Bitcoin’s market structure following the recent liquidation event at $66,300. According to the firm’s latest report, the clearing of these liquidations marks a significant turning point, with market dynamics highlighting a divergence between futures and spot trading behavior. MarktQuant noted a decline in open interest, reflecting a decline in leveraged positions. This trend signals that traders may be taking profits or withdrawing speculative capital and therefore pulling back from riskier bets in the derivatives market. At the same time, spot trading behavior paints a contrasting picture. Despite Bitcoin’s decline from…
Running an Ethereum L2 was historically very expensive. L2s had to pay millions in data availability costs to the L1. All that changed with the Dencun hardfork (EIP-4844) in March 2024. It introduced an expansion of blockspace called “blobs” for L2s to post batched data extremely cheaply to the L1. Blob space sits in a separate fee market from the L1. It’s about an order of a magnitude cheaper than L1 blockspace, making it a critical aspect of Ethereum’s rollup-centric roadmap. To illustrate that point, Base paid $9.34 million in expenses for Q1 2024, which saw a sharp drop to…
In a decade defined by tech, Cathie Wood has been one of the most forward-thinking investors. The CEO of Ark Investment Management (ARKK) is renowned for her focus on disruptive technologies — but her bets haven’t always paid off. ARKK was the best-performing actively-managed fund of 2020 — it has fallen from grace significantly since. Down from a February 2021 peak of $156.58, shares of the fund are now trading at just $51.11, although the fund has marked a modest 6.38% year-to-date (YTD) gain. One of Wood’s favorite companies is electric vehicle maker Tesla (NASDAQ: TSLA), which is also ARKK’s…