Author: NBTC
The stablecoin boom in Brazil has caught the attention of the central bank, which is currently exploring several ways to tax stablecoin remittances, including issuing a special license for crypto exchanges that provide these services. Central Bank of Brazil Explores Tax on Stablecoin-Based International Transactions, but There’s a Catch The Central Bank of Brazil is looking to capitalize on the popularity of stablecoins in Brazil and is now examining the possibility of taxing stablecoin-based remittances. According to industry stakeholders, the bank is considering including this kind of taxation in a definitive version of the cryptocurrency rules to be finalized next…
A recent report from CoinGecko reveals that 8.7 million cryptocurrency wallets currently hold stablecoins. The majority of these stablecoins are concentrated in three major types: $USDT, $USDC, and $DAI, which together account for 97.1% of all stablecoin holdings. Ever wondered how many wallets hold stablecoins? 🔎Our latest report revealed that 8.7M addresses hold stablecoins, with 97.1% holding $USDT, $USDC, or $DAI.Read the full report: https://t.co/V1uxLTAmKd pic.twitter.com/OQrsquVAPI — CoinGecko (@coingecko) September 15, 2024 USDT, USDC, and DAI Show Increased Stablecoin Stability Post-Banking Crisis Stablecoins, as the name suggests, are designed to offer price stability, their prices linked to another asset –…
The European branch of Robinhood, a top U.S. brokerage platform, has launched live transfer options for Pepe Coin (PEPE). This new feature allows European users to withdraw and deposit PEPE directly on Robinhood’s crypto platform. In addition, a 1% deposit bonus is being offered for a limited time to encourage users to participate in PEPE transfers. Pepe Coin, often referred to as PEPE, was launched last year, inspired by the popularity of the “Pepe the Frog” meme. PEPE is currently the 24th largest cryptocurrency, with a market capitalization of $3.45 billion and a spot market trading volume of approximately $598.35…
As the DeFi space expands, Ethereum’s largest projects maintain significant network usage through large-scale fee burning, leading to a depletion of ETH supply. As per the recent statistics sourced from ultrasound.money and shared by Phoenix Group, today’s DeFi titans, such as Uniswap, MetaMask, as well as 1inch, burnt the most Ethereum fees in the last month, with Uniswap alone responsible for burning approximately $15.2 million or 6,169.9 ETH. TOP #ETHEREUM BURNER #DEFI PROJECTS#Uniswap $UNI #Metamask #1Inch #0xProtocol $ZRX #GnosisChain #Pendle #KyberSwap #Aave $AAVE #Paraswap #Tokenlon $LON pic.twitter.com/6HuUBeDPrm — PHOENIX – Crypto News & Analytics (@pnxgrp) November 3, 2024 Uniswap Leads…
Ethereum’s recent performance highlights the ongoing volatility within the cryptocurrency market, with trading activity revealing mixed sentiments among investors. Key metrics indicate a potential resurgence of buying interest, despite overall lower trading volumes and whale activity. “The current state of Ethereum reflects uncertainty in the market, yet the recent uptick in buy volumes indicates a possible shift in investor sentiment,” remarked a market analyst. Ethereum’s market dynamics showcase ongoing consolidation, yet signs of renewed buying interest may emerge as election uncertainties wane. Market Consolidation and Investor Sentiment Surrounding Ethereum Over the past three months, Ethereum [ETH] has been predominantly characterized…
Recent developments indicate that Bitcoin (BTC) is stabilizing just below its all-time high. Following a troubling period in the past two quarters, positive market signals suggest a potential recovery. The release of this week’s JOLTS data underscores the Federal Reserve’s growing need to implement more aggressive interest rate cuts as inflation shows signs of decline. Contents hide 1 How is U.S. Economic Data Impacting Cryptos? 2 What Are the Implications of Key Economic Indicators? How is U.S. Economic Data Impacting Cryptos? The difficult stretch for cryptocurrencies seems to be waning, as the Fed has started reducing interest rates. Unless an…
Bitcoin Dogs (0DOG) is projected to surge as Bitcoin’s price turns bullish. 0DOG could reclaim its all-time high of $0.04934 due to increased demand amid new exchange listings. Analysts predict a potential 100X move for 0DOG by the end of 2024. As Bitcoin (BTC) gears up for what could be a record-breaking rally after struggling below $60k, many altcoins within its ecosystem are expected to follow suit, and Bitcoin Dogs (0DOG) stands out among them. A BRC-20 token, 0DOG is directly tied to Bitcoin’s performance and with the current bullish outlook for BTC and a string of new exchange listings,…
Bitcoin and Ethereum have been struggling as October came to an end, triggering fear, doubt and uncertainty among large holders. Bitcoin (BTC) dropped 1.75% in the past 24 hours and is trading at $68,500 at the time of writing. Its market cap is currently sitting at the $1.35 trillion mark with a daily trading volume of $23 billion. According to data provided by IntoTheBlock, the daily amount of whale transactions, consisting of at least $100,000 worth of BTC, have started to decline with the asset’s price fall—plunging from $67.8 billion on Oct. 29 to $21.1 billion on Nov. 2. Large…
In a rapidly growing DeFi market, monthly TVL growth has turned into a crucial metric for understanding the assessment of a project’s success. As per Phoenix Group, the top DeFi projects in line with per-month TVL growth include $SOLV, $CFG, DEAI, and so on. The on-chain analytics platform provided the list of these projects on its official X account. TOP PROJECTS BY MONTHLY #TVL GROWTH$SOLV $BB $CFG $FOX $DEAI $GNS $MPL $PSTAKE $EUL $IDLE $FLIP $EQB $LISTA $RAY $ORDER pic.twitter.com/ja4OT6aMLp — PHOENIX – Crypto News & Analytics (@pnxgrp) November 3, 2024 $SOLV Dominates the Prominent DeFi Projects in Terms of…
Marius Van Der Wijden suggests innovative L2 designs to boost Ethereum’s speed and efficiency without compromising security. He advocates for streamlined state management, where key nodes handle the full state, reducing data overhead significantly. By simplifying receipts and enhancing transaction access lists, Van Der Wijden envisions a more efficient transaction process on Ethereum L2. Marius Van Der Wijden recently outlined his design ideas for a high throughput Layer 2 (L2) solution on Ethereum. He explained how these choices contrast with mainnet operations. He emphasized the need for efficiency and speed while addressing the challenges of current Ethereum scalability. The conversation…