Author: NBTC
It has been over ten months, and through 2024, tether (USDT), the leading stablecoin by market value, has expanded its supply by 34.27%. Tether’s USDT Expands by 34% in 2024 Over the past year, USDT’s supply climbed by 34.27%, rising from $91.73 billion to $123.17 billion. Tether, launched nine years and eight months ago with a market cap of just $304,476, now holds a staggering $123.17 billion valuation, marking a growth of over 40,000,000%. In contrast, its closest competitor by market cap, usd coin (USDC), saw a 50.57% increase since Jan. 1. Of the 123.2 billion USDT in circulation, 61.79…
Base, the tokenless blockchain by Coinbase, reached a new record for reported transactions. Despite lagging behind Solana, Base is carrying more than 19% of token launches, adding to overall activity. Base is scaling, setting another record on overall transactions. The latest record is at above 7.3M daily transactions, compared to 1.19M for Ethereum, but still lagging behind Solana, with upward of 270M transactions on L1. Base increased its transactions in the past year, while paying minimal rent to Ethereum. | Source: Growthepie The success of Base is still relevant, as it remains one of the most scalable and liquid L2…
Bitcoin ($BTC) has established a correction pattern since bearish signals are still active in the market, specifically reduced daily MACD and bearish short-term views. Furthermore, the enhanced gearing and funding rates signified higher tendencies of speculation in the futures market. Thus, large-scale liquidation is possible whenever big support levels are breached. V-Shaped Move Could Signal Continued Consolidation of Bitcoin ($BTC) Over the past week, Bitcoin has shown a V-shaped price pattern, trading within the narrow range of $66,700 to $67,700. A brief test of $65,300 and $69,000 added to the volatility as price momentum consolidated. The RSI indicator is an…
In a widely anticipated move, the Fed cut interest rates by 25 basis points, bringing the target range to 4.50%-4.75%. The unanimous decision by the Federal Open Market Committee (FOMC) was the second rate cut in recent months. Nick Timiraos, often referred to as the “Fed spokesman,” said the FOMC’s statement was largely unchanged, reflecting cautious optimism but no major shift in policy direction. Timiraos said the decision was unanimous, indicating harmony among committee members. Analyst Jeanna Smialek noted that the Fed has maintained its neutrality, especially after this week’s US elections. “The Fed is independent of politics and tries…
Hamster Kombat’s native token HMSTR has jumped 37% in the last 24 hours following hints about an upcoming Season 2 airdrop. Hamster Kombat’s (HMSTR) official Telegram channel made the announcement. The overall gains can also be attributed to the surge in the price of Bitcoin (BTC), where the cryptocurrency touched a new all-time high of $80,000. The overall positive market conditions have driven the token’s weekly gains to over 132%. You might also like: Crypto VC Funding: VLayer touts $10M pre-seed raise What do we know so far about HMSTR season 2? The game developers announced on Nov. 9 that…
The Polkadot Blockchain Academy has announced the exclusive launch of the PBA-X, aimed to extend the opportunities for receiving Web3 knowledge in the blockchains space. Beginning on January 6, 2025, this program is a part-time, cohort-based online course to be completed within four weeks. It will offer a basic and systematic introduction to blockchain technology, thus aiming at advanced learners worldwide who seek to enter the new intersection called Web3. Polkadot Offering Flexible and Accessible Web3 Learning The PBA-X course welcomes participants regardless of experience or technical skills, making it ideal for beginners. The future Polkadot development team, with Dr.…
Is bitcoin experiencing a Gamestop-style gamma squeeze? Fielding questions from increasingly anxious speculators as the currency roared toward all-time highs during Tuesday’s trading session, Galaxy Digital researchers posted their estimate as of midday. Citing Amberdata’s compilation of data from Deribit, a large bitcoin options exchange, Galaxy’s Head of Research estimated Deribit options dealers’ gamma exposure at $15 million per 1% increase in BTC price from $71,000 through $85,000. In other words, bitcoin’s price is benefitting from a gamma squeeze. Before contextualizing this effect relative to other factors, however, it is critical to understand this mechanism of action without jargon. Bitcoin…
Fed Chairman Jerome Powell speaks lively at a press conference after the Fed cut interest rates by 25 basis points as expected. We will keep Powell’s statements up to date as Bitcoinsistemi.com. Since the meeting is currently ongoing, you can refresh the page to read the new statements. Here are Powell’s latest statements: Overall economic performance is strong. The Fed will continue to focus on its dual mission objectives. High inflation has eased significantly and the labor market remains strong. The Fed is committed to maintaining strong economic growth. The Fed has taken another step toward reducing policy restrictions. We…
A Top market analyst have shared 11 unique reasons why Ripple Labs and XRP might keep soaring. Among the plans include Ripple’s IPO plans and improving regulations. Ripple Labs Inc., a blockchain-based financial firm, has evolved into a powerful payment solution in the crypto space. At the same time, Ripple’s associated native digital asset, XRP, is now widely adopted for cross-border settlements. Despite its increasing prominence, Ripple and XRP have encountered several challenges over the past few years. A popular crypto community figure, Luke Thomas, recently outlined 11 key events that could strengthen Ripple and XRP’s position in the financial…
In this article, we see how to participate in the upcoming crypto airdrop of the new Sony blockchain, Soneium, layer-2 of Ethereum. The project team recently launched the testnet program “Soneium Minato”, hinting at possible economic rewards for the farmers. The launch on mainnet of the new chain is expected for the first half of 2025. Let’s see everything in detail below. Soneium: the new layer-2 blockchain by Sony Soneium Minato: testnet initiative with possible crypto airdrop rewards How to participate in the crypto airdrop of Soneium (Sony): bridge testnet badge Other interactions to earn the crypto airdrop Soneium: the…