Author: NBTC
This complexity of the crypto market has recently been highlighted in a recent reveal by blockchain analytics platform Lookonchain. The platform in an X post published earlier today details a sizable financial move performed by Curve Finance founder Michael Egorov. According to Lookonchain, the famous name in the DeFi community, Michael Egorov, managed to liquidate almost 140 million CRV tokens worth $36.5 million without a personal total loss. The manner of the sale reminds of the dynamic uncertainty of cryptocurrency investing as well as complex financial maneuvers executed by principals on many leading blockchain projects. Egorov’s behavior is especially alarming…
Swiss crypto custodian Bitcoin Suisse has issued tokenized bond via Obligate to double down on growth efforts in the lending business. Bitcoin Suisse, Switzerland’s largest crypto custodian with over $5.5 billion in assets under custody, has secured new capital by issuing a tokenized bond on Obligate, an on-chain capital markets platform. According to a press release shared with crypto.news, the investment-grade bond is overcollateralized and utilizes Circle’s USD Coin (USDC) stablecoin as the settlement currency. The issuance was executed via atomic settlement of the bonds against the stablecoin. Bitcoin Suisse head of treasury Sandro Huwyler says the additional capital generated…
INJ 3.0 introduces radical tokenomics overhaul for Injective’s native token. Proposal aims to make INJ the most deflationary asset, emulating Bitcoin’s scarcity. Timeline set for forum discussion, voting, and mainnet implementation. Injective, a leading blockchain for finance, announces INJ 3.0, a groundbreaking upgrade aimed at revolutionizing tokenomics. Since its inception, Injective has surged as a premier blockchain for financial services, fueled by its native token, INJ. With INJ serving various functions within Injective, including governance and staking, its importance cannot be overstated. Notably, Injective has continually reduced the supply of INJ through token burn auctions, with nearly 5.9 million INJ…
In a flurry of activity, Whale Alert has flagged significant transactions, shedding light on the movement of hundreds of millions of dollars in digital assets across major platforms. Tether Treasury spearheads the action, initiating a staggering $100 million USDT transfer to Bitfinex. 🚨 🚨 🚨 🚨 100,000,000 #USDT (99,985,000 USD) transferred from Tether Treasury to #Bitfinexhttps://t.co/EjFrXufubQ — Whale Alert (@whale_alert) June 12, 2024 Closely trailing Tether’s massive transfer, Kraken swiftly follows suit with its substantial movement, transferring a significant $65 million USDT to the same exchange. This action adds a layer of intrigue to the unfolding scenario. Furthermore, adding complexity…
Bitcoin’s hashrate experienced an uptick this week, briefly surpassing 600 exahash per second (EH/s) and currently stabilizing at 598 EH/s. The hashprice, which represents the expected value of 1 petahash per second (PH/s) of hashing power per day, is about $57 per petahash. Mining Centralization Grows as Bitcoin Hashrate and Revenues Shift As of June 12, 2024, bitcoin (BTC) miners have earned approximately $410.5 million, with $65.62 million attributed to onchain fees. This June presents significant challenges for BTC miners in terms of revenue, and unless bitcoin’s price increases, it may become one of the year’s lowest-earning months. Let’s not…
Moderators on the Roaring Kitty-endorsed subreddit SuperStonk have had to issue a warning to its community to stop doxxing the meme stock influencer and his family. “We’ve noticed a HUGE uptick in pictures of [Roaring Kitty’s] family, including his wife/sibling(s),” the community post read. “They’re totally unrelated to his activity as an investor and streamer, and his family and friends deserve their privacy. Posting their photos… honestly it’s a little creepy and violates their privacy. Don’t do it.” Fans of the GameStop investor are clearly getting carried away. The post explains that the moderators aren’t sure whether the posts are…
Dogecoin (DOGE) saw its price jump by over 4% after a recent tweet from Elon Musk referencing a scene from the 1979 film “Monty Python’s Life of Brian” In his post, Musk humorously depicted the mainstream media as characters from the film, struggling to keep a straight face while reporting on Dogecoin’s status among the top ten cryptocurrencies by market capitalization. The latest nod to Dogecoin spurred a quick, though temporary, increase in its price. pic.twitter.com/wXlbpNU97H — Elon Musk (@elonmusk) April 15, 2024 Dogecoin Market Response The Dogecoin daily chart shows a volatile 24-hour trading period, with the price encountering…
Binance, a leading cryptocurrency exchange, is set to expand its trading options, with new pairs featuring Notcoin (NOT) and Dogwifhat (WIF). The new pairs, which are NOT to Brazil Real and WIF to Euro, will be available for trading tomorrow. Notcoin started as a viral Telegram game on the TON blockchain, attracting a significant user base through a tap-to-earn mining mechanism. Despite initial skepticism, Notcoin has achieved a market capitalization of $1.8 billion and a trading volume of $1 billion. Dogwifhat, a Solana-based meme coin featuring a Shiba Inu with a knitted hat, has seen remarkable growth since its launch…
Bitcoin miner Bitfarms is set to expand its operations in the US by leasing a site in Sharon, Pennsylvania, and deploying miners that can output 600 PH/s of hashrate. In a June 13 statement, the firm said the site’s initial capacity will be 12 megawatts, with plans to expand to 120 MW by 2025. Bitfarms expects to bring the first 12 MW online before the end of this year, with the full capacity operational by the second half of 2025. The project will leverage the Pennsylvania-New Jersey-Maryland Interconnection (PJM) energy market, where energy supply is abundant and renewable sources are…
Weeks after the fourth Bitcoin (BTC) halving event, industry leaders have continued to speculate on what the future holds for the top coin. Joining this conversation is billionaire investor Chamath Palihapitiya, who noted that it is ultimately feasible for the Bitcoin price to hit an all-time high (ATH) of $500,000 in a few years. Theoretical projection based on history According to Chamath Palihapitiya, Bitcoin is known to record major growth about 12 to 18 months after the halving event. In the first month to the third month after each halving, the price of Bitcoin generally records flatter growth. The first…