Author: NBTC
The Cross-Chain Transfer Protocol (CCTP) will enable transfer of USDC from other blockchain networks to Solana. Stablecoins on Solana have reached their highest volume since November 2022, with USDC as the most popular one. USDC cross-chain functionality may see more value flowing into the Solana ecosystem. Solana (SOL) may be set for a potential price rally as Circle will launch its Cross-Chain Transfer Protocol (CCTP) utility on its blockchain on Tuesday. Considering SOL’s recent upsurge in on-chain metrics and the liquidity inflow the CCTP will enable, many believe investors may resume their buying pressure on Solana and its ecosystem tokens.…
Three former executives with bankrupt crypto lender Cred were indicted Thursday on charges of conspiracy to commit wire fraud, wire fraud and engaging in financial transactions for illicit purposes. Daniel Schatt, a Cred co-founder and former CEO, Joseph Podulka, former CFO, and James Alexander, the former chief capital officer, were indicted by the U.S. Attorney’s Office in the Northern District of California. Schatt and Podulka were arrested and made their initial appearances in a San Francisco court earlier in the day, according to a press release published Friday. Cred filed for bankruptcy in November 2020, estimating its liabilities to be…
The Kenyan President William Ruto recently revealed that his government has appointed Bitcoin mining company Marathon Digital as its consultant to review its cryptocurrency regime. The U.S.-based Bitcoin miner is reportedly set to discuss electricity usage in cryptocurrency mining with the Kenyan Energy Ministry. Kenya’s Policy Shift Kenyan President William Ruto recently announced that his government has requested Bitcoin miner Marathon Digital to review the country’s cryptocurrency regime. Ruto stated that the U.S.-based Bitcoin miner will also discuss electricity usage in cryptocurrency mining with the Kenyan Energy Ministry. The apparent acceptance of crypto and Bitcoin mining by the Ruto-led Kenyan…
Bitcoin’s price has failed to continue its rally beyond the $75K level and has been consolidating over the past few weeks. Yet, sooner or later, the direction of the next major move will be determined. Bitcoin Price Analysis: Technicals By TradingRage The Daily Chart On the daily chart, the price still ranges between the $60K and $70K levels, failing to break to either side. The Relative Strength Index has also been hovering around the 50% mark, pointing to an equilibrium in momentum. The BTC price is seemingly dropping back toward the $60K support zone. In this case, the level would…
Law expert Fred Rispoli has warned that there could be more large XRP holders like former Ripple CTO Jed McCaleb who can further suppress the price of XRP. The long-standing case between Ripple and the United States Securities and Exchange Commission (SEC) took a fresh turn this week. The regulator seeks to impose a $2 billion fine on the San Francisco-based company for selling XRP to institutional investors early in the project’s history. While that matter remains up for debate, the community has been reflecting on the consequences of Ripple’s early XRP sales to institutional buyers. Precisely, some reason there…
Former SEC Division of Enforcement Assistant Director Jennifer Lee said on May 2 that Donald Trump’s possible reelection likely won’t change the SEC’s stance on crypto. Lee told CNBC the SEC “vigorously pursued crypto cases” during Trump’s first presidential term and that it brought “daylight and regulation” to the burgeoning industry. She predicted that the SEC would continue to “define its space and reach over crypto” if Trump served a second presidential term. The SEC is more consistent about whether specific cryptos fall within the agency’s scope, but the extent of its jurisdiction over the industry remains an open question,…
On Monday, the experimental currency Ore won $50,000 from a Solana Foundation-supported hackathon focused on identifying Solana’s “next wave of high-impact projects.” “High-impact” presumably refers to Ore’s potential for making a positive change to Solana’s adoption figures. But so far, Ore’s impact has been more like a gut punch: The project halted mining in mid-April after the avalanche of network usage from mining the currency made it difficult for Solana users to get their transactions included in blocks. Ore is an experiment in using the proof-of-work security mechanism on the Solana blockchain. PoW systems essentially pay miners native currency rewards…
In the ever-evolving landscape of cryptocurrency, recent data suggests that long-term Bitcoin (BTC) whales are accumulating significant profits amidst market fluctuations. While the broader crypto market has experienced a slight downturn, Bitcoin whales seem to be holding onto their positions, hinting at potential market impacts if they decide to cash in. CryptoQuant, a prominent cryptocurrency analytics platform, recently released data indicating the unrealized profits of long-term Bitcoin whales. The chart posted by CryptoQuant showcases the unrealized profits of these whales, with the black line representing Bitcoin’s price and the green lines illustrating the unrealized profits of long-term whales over time.…
Ever-ascendant Solana token Dogwifhat (WIF) led a rally for meme coins on Tuesday, rising more than 20% overnight as the rest of the crypto market remained largely stagnant. Within hours, the WIF price—the meme coin of the moment—rose as high as $3.27 early Tuesday morning, before settling to $3.18 at writing. The Shiba Inu-themed token has risen 20% in the last 24 hours. Tuesday’s gains have once again pushed Dogwifhat to a market capitalization north of $3 billion—$3.168 billion, to be precise. That’s a remarkable accomplishment for a meme coin that launched mere months ago, with little more to offer…
Nigeria’s National Security Adviser (NSA) is set to label crypto trading as a national security threat, signaling an impending crackdown on peer-to-peer (P2P) crypto transactions, according to local media reports and CryptoSlate sources. The move follows the decision of at least three major Nigerian fintech startups — Moniepoint, Paga, and Palmpay — to block accounts involved in crypto dealings and report such activities to law enforcement. According to Moniepoint CEO Tosin Eniolorunda, the NSA’s classification is expected to pave the way for new regulations banning P2P crypto trading, with an official announcement anticipated soon. This represents a notable shift in…