Author: NBTC
Casey Rodarmor, the creator of the controversial Ordinals and Runes protocols on Bitcoin, recently discussed his motivations and the impact of his work on the Bitcoin network at Consensus 2024 in Austin, Texas. Rodarmor claims that the objective of his work with Ordinals and Runes is to ensure that Bitcoin remains secure and that its applications are also secure, allowing individuals to transact and use the network as they see fit, outside of state authority and censorship. “I think the only thing that’s interesting about any sort of blockchain is the extent to which it can assist the government,” Rodarmor…
In a market dominated by optimism surrounding the price spikes of Bitcoin (BTC) and Ethereum (ETH), the non-fungible token (NFT) market has seen a decline in popularity. NFTs, which include digital artwork and collectibles recorded on blockchains, have recently experienced a notable loss of appeal. According to a Bloomberg report, Google searches for NFTs have reached their lowest levels since 2021, when these tokens first gained mainstream attention. Popular NFT Collections Experience Steep Price Declines A significant drop in sales further highlights the NFT market’s struggles. Researcher DappRadar reveals that NFT sales have decreased by more than six percent to…
The upcoming IOTA EVM launch, supported by Shimmer’s infrastructure, represents a significant leap forward in blockchain technology. Recent infrastructure upgrades and new tools promise to enhance the functionality and adoption of the IOTA EVM. The IOTA technical team has been making substantial strides in their infrastructure, crucial for fostering growth and innovation within the ecosystem. Shimmer, as a standalone Layer 1 network, has been instrumental in driving IOTA’s technological evolution by being the first to test, release, and validate major protocol upgrades. Following the success of ShimmerEVM, the impending release of the IOTA EVM is set to revolutionize the network.…
Beleaguered crypto exchange Zipmex has lost its business license after the Thai authorities found that the exchange had repeatedly failed to comply with orders. Thai cryptocurrency exchange Zipmex has lost its business license after the Securities and Exchange Commission (SEC) found that the exchange had repeatedly failed to comply with regulatory orders. In a Jun. 11 press release, the SEC announced that Zipmex’s license revocation followed concerns over the company’s financial instability and inadequate management. Despite several directives to rectify these issues, Zipmex failed to comply within the given timeframe, prompting the SEC to recommend that Thailand’s Ministry of Finance…
Post-halving, Bitcoin (BTC) miners face a squeeze as rewards drop and costs soar. Can innovative strategies and market dynamics help them stay profitable? The Bitcoin halving is an event built into the Bitcoin protocol that occurs approximately every four years. It results in the reduction in the reward miners receive for adding new blocks to the blockchain. The latest halving, which took place in April 2024, slashed the block reward from 6.25 BTC to 3.125 BTC. This event, central to Bitcoin’s deflationary nature, impacts the supply of new Bitcoins and reverberates throughout the Bitcoin mining industry and the broader crypto…
A wave of activity by large cryptocurrency investors, known as crypto whales, has flooded major exchanges with millions of dollars worth of Ethereum (ETH), Uniswap (UNI), and Space ID (ID). This surge in transactions has captured the attention of the crypto market, raising questions about the motives behind these movements and their potential impact on prices. Whale Activity Surges: Crypto Assets Flood Exchanges Since April 16, 2024, cryptocurrency analysts have tracked several significant transfers. According to on-chain data, DWF Labs moved 9.2 million ID tokens worth $6.69 million to the crypto exchange – OKX. After this transaction, the wallets of…
Crypto.com was registered as a virtual asset service provider in Ireland last week. Crypto companies are vying to win approval in EU nations to be ready for December, when the Markets in Crypto Assets (MiCA) legislation becomes fully operational. Crypto.com received approval to register as a virtual asset service provider in Ireland, allowing the crypto exchange to operate in the European Union nation. The company was listed on the register as of June 7 under the name Foris DAX, the Central Bank of Ireland’s website shows. Crypto.com will now be able to offer crypto-to-fiat exchanges and fiat wallets, the company…
Galaxy Digital CEO Mike Novogratz recently told Bloomberg that Bitcoin, the flagship cryptocurrency, could enter a six-digit territory as soon as this year. Given that major institutional investors are now jumping on the Bitcoin trend, there are not a lot of sellers, according to Novogratz. If the Bitcoin price manages to take out the make-it-or-break-it $73,000 level in the near future, the flagship cryptocurrency could end up reaching $100,000. The cryptocurrency mogul does not rule out that the Bitcoin price could surge even higher. Novogratz noted that the bottom of the current range had started around the $40,000 level. The…
A newcomer has swiftly risen to prominence in the Stablecoin market, challenging the dominance of traditional players like USDT and USDC. USDe, a recently launched stablecoin, has accumulated a market cap of $2 billion in a very short period. What sets USDe apart from its counterparts is its unique approach to stability, backed not by physical US dollars but rather by cryptocurrencies like ETH and BTC. Led by Julio Moreno, CryptoQuant’s Head of Research, USDe’s unconventional strategy has sparked intrigue and raised questions about its potential impact on the stablecoin ecosystem. USDe’s Rapid Rise USDe’s rapid surge to a $2…
The FTX debtors in possession have filed a motion to authorize a second phase of investigation into issues surrounding the collapse of the US crypto exchange. According to the filing, the investigation would be focused on three major issues, including the complete extent of legal firm Sullivan & Cromwell’s representation of Sam Bankman-Fried, potential claims against “former shareholders of Ledger Holdings” that “sold their interests prepetition” to FTX US, and the “frequency and magnitude of the holes” in the balance sheet at FTX US. The investigations would apparently take roughly 10 weeks and cost approximately $3 million. Read more: Bitcoin…