Author: NBTC
Between July 2023 and January 2024, the concentration of bitcoin and ethereum in institutional digital asset portfolios increased from 50% to 80%, the latest Bybit user asset allocation report has shown. During this period, institutions appeared to be more bullish on ethereum than bitcoin, a sentiment that contrasted with that of retail investors. Stablecoins and Altcoins Comprise One-Fifth of Institutional Digital Asset Portfolios According to the digital asset exchange Bybit’s latest user asset allocation report, between July 2023 to Jan 2024, the share or concentration of bitcoin (BTC) and ether (ETH) in institutions’ digital asset portfolios grew from 50% to…
In an interesting turn of events, the short interest in MicroStrategy (NASDAQ: MSTR) has reached a massive figure of $3 billion, or 20% of its float, suggesting that the investors doing the short selling are exceptionally bearish on its future price, but also indicating the possibility of a mega short squeeze. Indeed, despite a recent rally for Bitcoin (BTC), to which MicroStrategy grants indirect exposure, some investors are betting a lot of money against MSTR, with the short bets accounting for about 20% of the company’s total available shares, as observed by Andrew Kang in an X post on March…
Binance has announced its support for the Pixels (PIXEL) airdrop, earmarked for eligible Ronin (RON) Locked Products users. This initiative marks a significant milestone for Ronin stakers within the Binance ecosystem. The airdrop season continues to excite the community, with the Pixels airdrop being the latest. Eligibility Criteria for Pixels Token Airdrop in Binance According to the announcement detail, the airdrop is scheduled to recognize various tiers of participation among Ronin Locked Products subscribers. Accordingly, the rewards will range from 183.34 PIXEL for the lowest tier to an impressive 3,955.11 PIXEL for the highest tier subscribers. “Eligible Ronin Locked Products…
A recently published patent application from tech behemoth Sony, the maker of PlayStation, detailed the concept of “super-fungible tokens” for games, which would be stored on a distributed ledger and transferable from player to player. Many gamers have had experiences where they get really into a video game, spend a bunch of money on in-game skins or battle passes, and eventually get tired of the game. When this happens in traditional “Web2” games, players are forced to accept the money spent on in-game assets as a sunk cost, and move on. You typically can’t sell those assets. But blockchain gaming…
In a recent social media post, David Schwartz, Chief Technology Officer (CTO) of Ripple, took a cheeky swipe at the U.S. Securities and Exchange Commission (SEC) over Elon Musk’s Tesla debacle. In his tweet, Schwartz poked fun at the SEC’s approach to determining securities, leveraging Musk’s recent comment about Tesla’s value surge. The Ripple CTO’s jest revolved around the notion of Tesla’s expected value increase, contrasting it with the SEC’s criteria for identifying unregistered securities. Schwartz humorously questioned why Tesla’s situation would not fall under the SEC’s scrutiny given the company’s supposed anticipation of profitability. I’d love to hear the…
Binance, the world’s largest cryptocurrency exchange, has announced that it will temporarily suspend deposits and withdrawals of Ethereum and ERC20 tokens on the ETH network. The reason for this suspension is to perform wallet maintenance for the Ethereum network, which is expected to last for about two hours. Binance will perform wallet maintenance for the Ethereum network (ETH) on March 6, 2024, at 7:00 a.m. (UTC). In this light, deposits and withdrawals on the Ethereum network (ETH) will be suspended starting on March 6, 2024, at 6:55 a.m. (UTC). #Binance will perform wallet maintenance for the Ethereum network $ETH starting…
Latin America is at the forefront of the crypto revolution, driven by unique socio-economic challenges and a robust entrepreneurial spirit. This region’s journey toward financial inclusion through digital assets explores the transformative potential of cryptocurrencies as remittance tools or inflation hedges. Optimism surrounds the crypto market in 2024, highlighting the critical role of Latin American countries in the mainstream acceptance of this technology. 1. Brazil: The Giant Awakens to Crypto’s Potential Brazil leads South America with its rapid embrace of blockchain and cryptocurrencies, ranking ninth globally in Chainalysis’ 2023 Crypto Adoption Index. The nation’s legislative advancements, including law 14,478, set…
In a moment when cryptocurrencies, stablecoins, and non-fungible tokens (NFTs) are gaining popularity, the IRS is playing catch up by implementing toughening tax regulations on crypto. To consider the intricacies and the continuing nature of the digital asset space, the IRS recently announced the appointment of two private-sector experts, Raj Mukherjee and Wilks, to its team of officials. Such a step suggests the IRS’s willingness to strengthen its compliance, enforcement, reporting, and service related to cryptocurrencies. Including Mukherjee and Wilks in the IRS’s team is a mere personnel operation and a strategic improvement of the IRS’s digital asset capability. Individuals…
Recent data from IntoTheBlock reveals that Ethereum L2 transaction volumes have skyrocketed by an impressive 91% since the beginning of the year. This surge underscores a growing trend of Ethereum users migrating toward layer-2 scaling solutions, drawn by the promise of faster and cheaper transactions compared to Ethereum’s mainnet. Surge in Ethereum L2 transaction volumes The data reveals compelling insights into the ecosystem of Ethereum’s scaling solutions. On March 1, 2023, transaction volume for Ethereum L2 transactions from both Arbitrium and Optimism totaled approximately $700 million. Fast forward to Feb. 1, 2024, and this figure surged to $2 billion, encompassing…
Web3 Wallet team from the Binance cryptocurrency exchange has completed the integration of the Blast network. According to the exchange’s announcement on March 4, Binance Web3 Wallet now supports Blast, an Ethereum Layer 2 scaling solution offering built-in yield for Ethereum (ETH) and stablecoins. As part of the integration, crypto wallet users will be able to use the Binance Web3 Wallet to transfer tokens to and from the Blast network and access various decentralized applications on the network. To view and find Blast in Binance Web3 Wallet, you need to go to the Web3 Wallet section and select the Networks.…