Author: NBTC
Base is the blockchain with the most significant monthly and weekly perpetual trading volume growth among the 10 largest chains in total value locked (TVL), according to data aggregator DefiLlama. This weekly jump can be attributed to the recently launched perpetual decentralized exchange (perp DEX) JOJO, which has presented a nearly 75% growth in trading volume for the past seven days. Moreover, JOJO dominated 61% of Base perpetual trading volume over the last 24 hours, surpassing $95 million. Jotaro Kujo, JOJO’s co-founder, shared that there are “quite a lot of real users” trading perpetual contracts. “I believe someone is farming…
Quick Take Bitcoin (BTC) had an impressive first quarter in 2024, posting a 69% return and outperforming most traditional asset classes. Despite the launch of BTC ETFs, which many thought would lead to a stronger correlation with traditional finance assets, BTC displayed minimal correlation with major asset classes, using data from a recent Glassnode and Coinbase Institutional report. This suggests its potential as a valuable component for diversification within a portfolio. The report shows that Bitcoin negatively correlated with the DXY index and gold, while its correlation with the S&P 500 was low at 0.11. This suggests that Bitcoin’s price…
General Updates Neo partnered with Fansland,a fan economy platform powered by blockchain and AI, to empower artists and provide consumers with new access to those in the entertainment industry. The partnership’s first initiative will entail sponsoring an event in Bangkok, Thailand, dubbed “the world’s first Web3 music festival,” which will occur later in 2024. Looking forward, Neo and Fansland plan to explore the possibilities of minting tickets to events on the Neo N3 and X blockchains, with tickets represented as NFTs that will offer exclusive holder rights. Neo released information about the progress made in addressing the security breach that…
They had it all planned out. In late 2022, the brothers Peraire-Bueno – twenty-something graduates of a prestigious university who had turned their sights on blockchain – embarked on an effort that ultimately netted them $25 million, in one of the most sophisticated exploits in a decade or so of frequent crypto exploits. At the outset, according to U.S. prosecutors, they outlined a four-step plan. First there was “The Bait.” Then there was “Unblinding the block,” followed by “The Search,” and ultimately “The Propagation.” “In the months that followed, the defendants followed each stage as outlined in their Exploit Plan,”…
Binance has some news for all crypto traders amid the present bull run. Binance, the leading blockchain ecosystem powering the world’s largest crypto exchange by trading volume, has recently unveiled the Funding Rate Arbitrage Bot and made Spot Copy Trading available to all its eligible users. Binance delivers on community requests for the following products At present, Binance offers over 120,000 active trading strategies on its Trading Bots Marketplace. The platform is constantly improving its range of automated trading tools to cater to the needs of its users. To that end, some of its most sought-after automated trading bots among…
Move-based blockchains are surging in total value locked (TVL) this year, with Sui leaping 233% and Aptos also showing significant growth of 210%, according to data aggregator DefiLlama. Rushi Manche, co-founder of Movement Labs, believes that compatibility with the Ethereum Virtual Machine (EVM) could bolster this growth even more. “I think the biggest issue for new systems is how do you onboard developers and new users and a lot of these next-gen and new VM languages realize that if you don’t have compatibility for EVM, you really limit the amount of growth that you have the first two or three…
From the prospects of BTC hitting $100,000 in 2024 — to search interest for the “Bitcoin halving” — here’s a rel>Bitcoin is lumbering up for its fourth halving — and no two events are the same. The markets are unrecognizable from where they were even four years ago. Here are five fascinating facts about the 2024 halving. You might also like: The winners and losers from Bitcoin’s halving 1. There isn’t much Bitcoin left Bitcoin has been structured, so most of its total supply is already in circulation. After the halving, there will be a mere 1.3 million BTC left…
BitMEX founder Arthur Hayes increases his Pendle holdings through Wintermute trades, signaling confidence in the token’s future. Arthur Hayes, the founder of BitMEX, has been actively increasing his holdings of Pendle, an ERC-20 token associated with the decentralized finance (DeFi) protocol of the same name. According to recent updates from Colin Wu of Wu Blockchain, Hayes has acquired a considerable amount of Pendle through transactions with Wintermute. This development points towards Hayes’ strategy of investing in assets likely to benefit from a shift in retail derivatives trading from centralized to decentralized exchanges (DEX). BitMEX founder Arthur Hayes purchased 500k USDC…
The U.S. Senate joined the House of Representatives on Thursday in seeking to erase the controversial Securities and Exchange Commission (SEC) crypto policy known as Staff Accounting Bulletin No. 121, though President Joe Biden has vowed to veto the resolution.The Senate voted 60-38 on the effort to overturn the policy, commonly referred to as SAB 121, though the crypto industry may not breathe a sigh of relief over the initiative’s banking constraints, because Biden said that letting the rule be removed this way would disrupt “work to protect investors in crypto-asset markets and to safeguard the broader financial system.” A…
Indian authorities are actively working to bring all cryptocurrency exchanges operating in India under stringent Anti-Money Laundering (AML) and Countering Financing of Terrorism (CFT) guidelines to enhance compliance and oversight in the burgeoning digital asset market. The Indian government’s Financial Intelligence Unit (FIU) has recently granted Binance and KuCoin, two major offshore cryptocurrency exchanges, the status of Virtual Asset Service Providers (VASPs) in India. The latest move comes as part of a broader effort to ensure compliance within the virtual asset sector under the Prevention of Money Laundering Act (PMLA). KuCoin has resolved previous non-compliances with a penalty payment of…