Author: NBTC
Bitcoin has officially executed a systematic, hard-coded and highly anticipated event known as the halving. The event, which happens roughly every four years, essentially cuts the Bitcoin reward that miners receive for powering the network in half, reducing the new supply of BTC entering the market. The reward for mining a block has reduced from 6.25 BTC to 3.125 BTC. The halving does not directly impact the price of BTC and is not like a stock split. Instead, it fulfills and showcases Bitcoin’s scarcity, its ever-decreasing rate of inflation and its steady climb to a maximum supply of 21 million…
The Hong Kong-listed spot crypto ETFs saw huge outflows on Monday, data from Farside Investors shows. Investors pulled nearly $40 million out of the six spot bitcoin and ether ETFs on the first day of the week. The Hong Kong-listed spot bitcoin and ether exchange-traded funds (ETFs) saw heavy outflows on Monday following bitcoin’s drop below $61,000 on Friday. The spot bitcoin ETFs from issuers ChinaAMC, Harvest Global, as well as Bosera and Hashkey, saw a combined $32.7 million outflows on Monday, according to data from Farside Investors. This number is significantly higher than previous outflows, which hovered around the…
The LayerZero Labs team hinted at information that may disqualify the majority of airdrop hunters who farmed the expected ZRO airdrop for some two years. LayerZero CEO Bryan Pellegrino reportedly said that less than 15% of wallets that interacted with the protocol would be eligible for the upcoming airdrop scheduled for this year’s first half. On May 8, WuBlockchain cited a private Telegram message where Pellegrino supposedly espoused doubts regarding the validity of most addresses. In the text, the LayerZero Labs co-founder noted that fewer than three million out of six million possible addresses had only made a single transaction.…
The Blockchain Center of the University of Zurich has closed an academic partnership with Meta Pool DAO. Within the framework of this new academic alliance, students from various Latin American countries will be able to study at the Blockchain Center of the University of Zurich. Both organizations have made history, as this is the first time the academic institution has partnered with a Decentralized Autonomous Organization. The initiative will allow for an exchange of knowledge between the leading international blockchain protocols and Latin American students. The partnership reflects the fundamental principles of a DAO , which are transparency, participation, and…
The quadrennial event is seen as a momentous occasion in the crypto community. Various factors may make this halving an event like no other in Bitcoin’s history. Soccer has the World Cup. Athletics and many other sports have the Olympics. Crypto has the Bitcoin halving. The once-every-four-years bitcoin (BTC) reward halving took place at 00:09 UTC on Saturday, when the 840,000th block was added to the Bitcoin blockchain. The halving, which cuts the reward bitcoin miners receive for adding new blocks by 50%, occurs every 210,000 blocks – in accordance with the original programming when the blockchain’s elusive creator, Satoshi…
The growth of tokenized financial products likely represents the tip of the iceberg, as the world’s biggest financial players continue to investigate the potential of blockchain technology. This interest could lead to the proliferation of on-chain funds that might challenge the dominance of stablecoins, according to Colin Butler, Polygon Labs’ head of institutional capital. Franklin Templeton launched its OnChain US Government Money Fund in 2021. It uses the Polygon and Stellar blockchains to process transactions and record share ownership. BlackRock debuted its own tokenized offering — the USD Institutional Digital Liquidity Fund — on the Ethereum Network in March. The…
The Nexonomics-inspired token hunt is designed to reward new and existing users for exploring the various modules of the Nexo ecosystem. The crypto exchange team allocated a total of 10 million NEXO tokens to event participants, which is roughly equal to $12 million. Nexo exchange celebrates sixth anniversary, launches Token Hunt event According to the official statement by its team, Nexo, a major centralized cryptocurrency exchange ecosystem, launches an unmatched promo event to celebrate the sixth anniversary of its market release. For participating in various activities on the platform, Nexo users are invited to stack points, multiply gains and unlock…
In a significant development for the blockchain education community, Metaschool has announced a new partnership with Core DAO, a prominent Bitcoin-powered and Ethereum Virtual Machine (EVM)-compatible layer one blockchain. This collaboration aims to enhance educational resources for developers interested in building on the Core blockchain. Hello Metaschool community, We’re excited and thrilled to partner with @Coredao_Org, a Bitcoin-powered, Bitcoin-aligned, EVM-compatible layer one blockchain.🔥Core boasts a massive community of 2.55M members online, 246M+ transactions and 5M active wallets.With this… pic.twitter.com/rooF9TYUdk — 🔮 metaschool (@0xmetaschool) May 10, 2024 Metaschool, a community-focused educational platform, has joined forces with Core to roll out five…
Shortly after 8 pm ET, the network underwent its fourth mining subsidy halving, with per-block rewards falling from 6.25 BTC to 3.125 BTC. The 840,000th block was a notable affair unto itself. It boasted 37.626 BTC in fees — a cool $2.4 million for ViaBTC, the Chinese mining pool that scored the winning block. According to the block explorer Mempool.space, someone paid roughly nearly $430,000 in fees in an apparent effort to get their transaction in the 840,000th block — a rather expensive way to become part of history, we’d reckon. Read more: Bitcoin’s block reward slashed by 50% following…
Liquity’s upgraded protocol aims to take on the increasing competition for DeFi yields, with plans to go live in the third quarter. The new stablecoin, BOLD, will coexist with Liquity’s LUSD, adding liquid staking ETH derivatives as collateral assets to provide liquidity or leverage for investors. Decentralized finance (DeFi) lending platform Liquity (LQTY)’s planned upgrade will include an overcollateralized stablecoin that makes use of liquid-staking tokens of ether (ETH) as backing assets and allows user-set interest rates for loans, a first in DeFi, according to the protocol. “Current protocols either rely on slow and potentially misaligned human governance to adjust…