Author: NBTC
New data from crypto analytics firm Kaiko reveals that traders are flocking toward bullish Bitcoin (BTC) bets for the upcoming presidential election. In a new paper, the Kaiko team finds that derivatives traders are placing tens of millions of dollars worth of bullish BTC bets on crypto options exchange Deribit’s new election contracts. “Options traders flocked to bullish bets on BTC for Deribit’s new US election contracts. The options contracts, which expire on November 8, three days after the US Presidential elections, went live on July 18. Traders bought $41 million worth of BTC calls on Tuesday, July 23. Weekend…
Sun.io, the DeFi platform associated with Tron founder Justin Sun, has released a token generator dubbed SunPump. The new platform will rival Solana’s pump.fun token generator. $10 million has been set aside to provide resources to newly issued tokens and a review process put in place to avoid rug pulls. Sun.io, the decentralized finance (DeFi) protocol associated with Tron founder Justin Sun, has released SunPump, a platform that allows users to create memecoins on the Tron blockchain. The platform will rival the popular Solana equivalent, pump.fun, where transaction fees surged to an all-time high this week with a total of…
According to the latest data, the blockchain network Fractal Bitcoin continues to capture around 226 exahash per second (EH/s) of Bitcoin’s hashrate via merged mining. Additionally, Fractal Bitcoin’s native crypto asset, FB, achieved an all-time high (ATH) last week but has since dropped 61.9% below that ATH just six days later. Mining Pools Reap Rewards as Fractal Bitcoin Generates Returns Alongside Bitcoin’s Subsidy The blockchain protocol Fractal Bitcoin continues to harness 226.19 EH/s of merged mining hashpower from the Bitcoin blockchain to fuel its sidechain. Additionally, 18.1 EH/s of permissionless mining bolsters the network’s operations. Onchain data shows that so…
A crypto trading expert has shared a compelling analysis of the interplay between Bitcoin (BTC) and gold, highlighting the role of the precious metal in determining the next crypto bull run. In an X post on July 31, crypto analyst CryptoCon suggested that Bitcoin bull markets have historically commenced as gold bear markets begin. Notably, Bitcoin’s bull run in 2013 started in the same period as the gold bear market of that year. A similar pattern emerged in 2017, with Bitcoin’s bull run coinciding with the gold bear market, and the trend continued in 2021, reinforcing the inverse relationship between…
Shytoshi Kusama, the leader of Shiba Inu’s project, expresses frustration with the growing presence of shadowcats within the ecosystem as the date of the ShibaCon 2024 event draws closer. The Shiba Inu leader highlighted this challenge in an X post today, emphasizing the large number of shadowcats. According to the X post, his primary concern is the limited time he has to deal with this growing threat before the commencement of the highly anticipated ShibaCon 2024, Shiba Inu’s first global conference. ShibaCon 2024 Kusama first introduced the conference shortly after his appearance at IVS Crypto 2024. He stated that the…
The chief investment officer of crypto asset management firm Bitwise says a sea-change in crypto has taken place, increasing the likelihood of upside moves. In a new blog post, Bitwise CIO Matt Hougan says the digital industry is “not bullish enough” as blue-chip and government interest in digital assets ramps up. According to Hougan, the thought of Congress passing clear crypto guidelines and Wall Street players embracing crypto on a larger scale are no longer fantasy scenarios. “As crypto investors, we spend a lot of time focused on downside risk. We’re all acutely aware that, at any moment, an event…
Shiba Inu (SHIB) continues to capture attention even in a bearish environment for meme coins. Recent data reveals that a single wallet has accumulated an impressive 397.845 billion SHIB tokens last week. Valued at approximately $5.35 million, this acquisition highlights strategic interest in Shiba Inu despite market challenges. However, this wallet has also experienced losses amounting to $23.87k, likely due to SHIB’s price fluctuations. This address has not engaged in any transactions beyond the SHIB accumulation, currently holding only Shiba Inu tokens. Wallet holdings Arkham It is important to note that during this press, Shiba Inu was changing hands at…
Federal Reserve Chair Jerome Powell has signalled that the central bank is ready to implement a much-awaited rate cut this September during a press conference. As noted by Powell, the economy is now “moving closer” to the point where reducing the current policy rate would be appropriate. “In that we will be data dependent, but not data point dependent,” he added. There were some debates about the prudence of implementing the first rate cut as early as this July. However, the Fed decided to wait until the next meeting. According to Powell, the decision was unanimous. For now, the central…
New data shows that 134 countries, representing 98% of global GDP, are now exploring central bank digital currencies (CBDCs), with 66 nations advancing to pilot or development stages. Every G20 nation is engaged in CBDC efforts, with notable leaders such as China and the European nations pushing forward. The U.S. remains lagging behind Europe and Japan but is exploring cross-border initiatives like Project Agorá. Global Expansion of CBDCs: 134 Countries Exploring Digital Currencies The Atlantic Council announced on Tuesday that it has released an update to its central bank digital currency (CBDC) tracker. The announcement details: Our new research shows…
IoTeX, the Decentralized Physical Infrastructure Network (DePin) platform, recently unveiled its Surf Accelerator Cohort. It spotlighted nine emerging DePin projects poised to revolutionize the sector. These are all relatively new projects with very little traction on social media. Some of the projects might not have launched their mainnet yet. DePin Projects to Keep an Eye On At the forefront is Nubila Network, creating a blockchain focused on environmental, social, and governance (ESG) issues. Nubila enhances sustainability investments by providing precise, hyperlocal weather data. In July, the project raised $2.5 million from backers, including IoTeX, VeChain, and Boston Consulting Group, and…