Author: NBTC
Adoption levels for the central bank digital currency (CBDC) have been sluggish in recent months, but China and Australia are renewing efforts to advance initiatives expected to stimulate the development of new use cases and foster further innovation. Recently, the People’s Bank of China (PBoC) unveiled a new upgrade to the digital yuan hardware wallet designed to improve its usability for tourists and less tech-savvy residents. The latest development improves the capabilities of its previous iteration and features QR codes and Near Field Communications (NFC) technology. Originally announced in 2021, the hardware wallet bears a striking similarity with debit cards,…
As reported by a popular blockchain analytics service, Lookonchain, seen on Solscan Pumpfun, has withdrawn $15M worth of USDC from the SOL sale and deposited it to the Kraken exchange. The transaction took place a few hours ago, and some analysts suggested that Pumpfun may be preparing for another cash-out in large quantities. 3 hours ago, #Pumpfun deposited the 15M $USDC obtained from their $SOL sale into #Kraken. Are they planning to cash out?https://t.co/eO2OHLWL0c pic.twitter.com/c4YTgrrUgV — Lookonchain (@lookonchain) October 31, 2024 Possible Consequence of the $15M Transfer Pumpfun could soon be seeking to liquidate. Such large-volume transfers are not exceptional…
MetaMask has introduced a pivotal upgrade allowing users to conduct token swaps without ETH for gas fees, reshaping the DeFi landscape on Ethereum. This gas-included swap feature streamlines the transaction process, effectively removing barriers that have frustrated Ethereum users for years. Michael Khekoian, a Senior Business Development Manager at ConsenSys, stated, “Swaps in MetaMask no longer require ETH for gas… No more insufficient funds on swaps,” highlighting the innovation’s significance. MetaMask’s Gas Station feature simplifies token swaps on Ethereum, removing the need for ETH gas fees and revolutionizing user experience in DeFi. MetaMask’s Gas Station: A Game Changer for Users…
Based on the most recent data using the seven-day simple moving average (SMA), bitcoin’s hashrate climbed to an unprecedented peak on Nov. 21, reaching 776 exahash per second (EH/s) for the very first time. Bitcoin’s Computational Power Hits Stratospheric Levels On Thursday, bitcoin (BTC) soared to a fresh all-time high, hitting $99,121 per coin. This price boost has given miners a financial edge, as the hashprice—the estimated worth of 1 petahash per second (PH/s) of hashpower—has significantly increased. For instance, on Nov. 4, 2024, the value of a single petahash stood at $42.86, but today, it has climbed to $63.07.…
Bitcoin’s price has rebounded from a ten-day low as traders attempt to gauge a short-term direction amid a “liquidity hunt” following last week’s surge to its near-all-time high. The asset is trading relatively flat on the day to around $67,500 after dropping to as little as $65,160 on Thursday, CoinGecko data shows. It comes as Bitcoin’s price breached $69,000 on Sunday—the asset’s all-time high, set on March 14, stands at just above $73,700. That has some experts postulating the asset’s move lower this week may have been short-lived. “We don’t see this necessarily as linked to U.S. election odds moving…
From $3.4 billion at the beginning of the year, this is a 300% increase in lending activity. As for other indicators, fees have increased by 48% to $40.34 million. Aave, a pioneering protocol in decentralized finance (DeFi), has reached a significant milestone: $10 billion in active loans. From $3.4 billion at the beginning of the year, this is a 300% increase in lending activity. Active loans on the platform rose by 16.4 percent to $10.04 billion in the previous 30 days, according to data from the on-chain DeFi monitoring tool Token Terminal. Also, the total value locked (TVL), which includes…
Ethereum price started another decline below the $3,150 zone. ETH is struggling and might decline further below the $3,000 support zone. Ethereum is slowly moving lower below the $3,150 zone. The price is trading below $3,100 and the 100-hourly Simple Moving Average. There is a connecting bearish trend line forming with resistance at $3,080 on the hourly chart of ETH/USD (data feed via Kraken). The pair could extend losses if there is a close below the $3,000 support zone. Ethereum Price Struggle Continues Ethereum price attempted an upside break above the $3,200 resistance but failed unlike Bitcoin. ETH started a…
Binance, the world’s largest crypto exchange, says it expects to have 645 full-time compliance employees on staff by the end of the year — a 34% increase from last November — as it continues to rapidly build out its compliance department. Including contractors, the crypto exchange already has over 1,000 employees focused on compliance, according to a Friday press statement from Binance. Binance’s intense focus on regulatory compliance is relatively new for the crypto exchange, which just one year ago, agreed to pay a massive $4.3 billion fine to various U.S. regulators for violating the Bank Secrecy Act (BSA) and…
Core Scientific is converting its cryptocurrency mining campus in Denton, Texas, into a $6.1 billion data center hub for artificial intelligence (AI) workloads, signaling a shift in its business strategy amid increasing demand for AI-driven computing. Core Scientific’s Denton Campus to Host $6.1 Billion AI Project Core Scientific’s (Nasdaq: CORZ) revised lease agreements and power contracts with the city of Denton will facilitate the expansion of its existing facilities, securing access to 394 megawatts of power. This represents a significant upgrade from the original allocation of 297 megawatts. The transition aligns with Core Scientific’s pivot from bitcoin (BTC) mining to…
The spike in the number of whales strengthens the case for a rally to record highs. Retail investor accumulation has recently slowed, according to CryptoQuant. The number of large bitcoin holders is growing again, boosting the case for a price rally to new record highs. Data tracked by Glassnode and André Dragosch, director and head of research – Europe at Bitwise, shows the number of so-called whales or network entities owning at least 1,000 BTC jumped to 1,678 early this week, reaching the highest since January 2021. The growing accumulation by large holders alongside solid uptake for alternative vehicles, especially…