Author: NBTC
In a jaw-dropping move, 139.88 billion SHIB worth $2.42 million were withdrawn from Coinbase to an unknown address. This massive transaction, revealed by data from Arkham, involved the address “0xA606,” which had no previous recorded activity. The tokens were withdrawn in two tranches, with the first transfer of 116.623 billion SHIB, followed by an additional 23.26 billion SHIB. This unexpected withdrawal by an unidentified entity came amid low trading activity for Shiba Inu. Over the past four months, SHIB has experienced a sharp decline, with its price plummeting 62% from $0.000045 to $0.000017, following a dramatic 400% drop in February.…
Pyth Network has partnered with Sony Group to deploy the Pyth Price Feeds on Soneium, Sony’s Layer-2 blockchain platform on Ethereum. Pyth’s partnership with Sony Group also includes Startale, the web3 tech platform behind multiple blockchain applications. Sony recently launched Soneium Sony Group, through its blockchain arm Sony Block Solutions Labs, collaborated with Startale Labs to unveil Soneium. The new layer-2 solution is built with Optimism’s OP Stack – the technology that also powers Coinbase’s Ethereum L2 platform Base. Worldcoin also used the OP Stack for its World Chain project. On August 28, the Soneium team announced the L2 network’s…
Gold reached a new all-time high (ATH) last Friday, surpassing the $2,500 price per ounce, while Bitcoin (BTC) lags behind. The so-called “digital gold” divergence from the precious metal has sparked discussions in the finance community, evaluating their fundamental differences. In particular, trader and analyst Kashyap Sriram, who has over eight years of experience in finance, shared his insight. Sriram first commented in a post by Lawrence McDonald, a New York Times best-selling author, who questioned Bitcoin’s store of value narrative, comparing BTC and gold price performances. “Bitcoin’s best days are behind it. Gold’s best days are just beginning. This…
Ethereum gas expenses have dropped to their lowest in five years due to Layer 2 expansion. The Dencun upgrade has reduced transaction costs significantly across the Ethereum network. The rising ETH supply is putting pressure on its market price despite increased demand from recent developments. Ethereum gas fees have reached their lowest point in five years, showing significant changes within the network. This drop, reported on August 19, 2024, is due to the increased use of Layer 2 networks and the Dencun upgrade from March 2024. These developments have lowered transaction costs, affecting Ethereum’s supply and market dynamics. Layer 2…
Today, enjoy the On the Margin newsletter on Blockworks.co. Tomorrow, get the news delivered directly to your inbox. Subscribe to the On the Margin newsletter. Welcome to the On the Margin Newsletter, brought to you by Ben Strack and Casey Wagner. Here’s what you’ll find in today’s edition: How the historical “reputation risk” for advisers and institutions allocating to crypto has, in some ways, inverted. NVIDIA is about to drop its Q2 results. Here’s what to know beforehand. What to make of Russia’s crypto-related tests, set to start in the coming days. More institutions viewing digital assets as ‘inevitable’ There…
XRPL Japan and Korea Fund is now open for applications in Japan and Korea. The fund will support corporate partnerships, developer grants, and community growth initiatives. Japan and Korea were picked due to their strong institutional ties and progressive regulations that drive blockchain innovation. The XRPL Japan and Korea Fund, a groundbreaking initiative by Ripple, is now accepting applications from enterprises, developers, and XRPL community members. This fund aims to propel innovation on the XRP Ledger (XRPL) within the dynamic Japanese and Korean markets. Attention 🇯🇵 & 🇰🇷 – the #XRPL Japan and Korea Fund is now open for applications…
Indian crypto exchange WazirX said it will end the suspension of rupee withdrawals starting on Aug. 26. The withdrawals ban was put in place after last month’s $230 million exploit. Users will be able to take out up to 66% of their funds in two phases. WazirX, the Indian crypto exchange that lost $230 million to a hack in July, said it will start allowing limited rupee withdrawals after freezing them in the wake of the exploit. Withdrawals of up to 66% of users’ rupee balances will be phased in over the next month, starting Monday, it said in a…
There may be signs that a hidden form of crypto mining is targeting the clients of rented GPUs for the purposes of training AI, rendering, or other computation-intensive tasks. The attacks come through GPU renting templates and affect even widely accessible services like Vast AI. Hidden mining may be returning in a new form, targeting rented GPU power. Formerly, hidden miners operated through websites or attacked networks, abusing their computational power to mine obscure crypto coins. Most of the mining power was used for Monero (XMR), while the crypto mining programs were disguised in apps or websites. As GPU renting…
New York City, NY – In a groundbreaking move, Ablo by Space Runners has teamed up with Story Protocol to transform how creators track and monetize their AI-generated content. This partnership is designed to return control and profits to creators, enabling them to monitor the distribution and remixing of their work while earning revenue from its reach and usage.—Empowering Creators with TransparencyThrough this collaboration, creators will gain unprecedented transparency over their intellectual property (IP). They’ll be able to track where their designs are used, who is remixing them, and how they are being shared. This visibility opens up new revenue…
Spot Ethereum (ETH) exchange-traded funds (ETFs) inflows surpassed $2 billion in nearly four weeks, when excluding Grayscale’s ETHE outflows of nearly $2.5 billion, based on Farside Investors’ data. ETF Store CEO v highlighted that if this cumulative value is considered under one ETF, it would equate to the fourth-largest ETF launch to date. The three other ETF launches besting the cumulative Ethereum ETFs are all spot Bitcoin (BTC) ETFs: BlackRock’s IBIT, Fidelity’s FBTC, and ARK 21Shares’ ARKB. Geraci added: “On its own, iShares Ethereum ETF = top 7 ETF launch.” Bloomberg senior ETF analyst Eric Balchunas shared that the ETFs’…