Author: NBTC
Kamino Finance has increased the global borrowing cap for PayPal’s stablecoin, PYUSD to $20 million. This expansion allows users to borrow PYUSD by using any collateral asset they hold on the platform. Notably, the PYUSD borrow rate remains consistent, even at a utilization rate of 80%. This provides a stable borrowing environment regardless of the loan amount. 1/ Global $PYUSD borrow caps have just been raised to $20M on Kamino — which means you can use ANY collateral assets to borrow!Significantly, the $PYUSD borrow rate is designed to remain flat regardless of borrow size — up to 80% utilization👀 pic.twitter.com/jiyya3WWtw…
Ethereum has been facing significant resistance at the $2.8K level, which marks the lower boundary of a multi-month wedge pattern. The price action suggests that it might be completing a pullback, potentially driving the price down toward the $2.1K threshold. By Shayan The Daily Chart Ethereum has been grappling with the multi-month wedge’s lower boundary at $2.8K for several weeks, suggesting a possible pullback completion. After retracing toward this key resistance level, the price has entered a period of slight consolidation, reflecting insufficient market demand. The low-volatility action near this resistance suggests that the pullback might be nearing its end.…
Tron has redefined the landscape of global stablecoin transactions, claiming a staggering 97.62% share of the market as reported by Orbital. This remarkable dominance outshines other major blockchains like Ethereum, Solana, Binance Smart Chain, and Polygon, which have considerably lesser shares. This shift highlights Tron’s increasing influence and its strategic positioning within the stablecoin sector. Transforming Global Business Operations Tron’s surge in the stablecoin transaction market is more than a statistic; it represents a transformative shift in how businesses operate internationally. The blockchain’s efficiency, cost-effectiveness, and high transaction speed offer an appealing alternative to traditional financial systems, particularly in emerging…
Usually, the halving of Bitcoin creates the conditions for a significant increase in the price of the cryptocurrency, but this time everything could be different. In fact, compared to the first 3 halvings in the history of crypto assets, in this latest block reward halving event, things did not go as expected. Bitcoin has updated its all-time high even before the four-year update, while 4 months later it sees a bear price performance.. What can we expect now? Let’s see everything in detail below. The fourth halving in the history of Bitcoin The price of cryptocurrency after the first months…
As Ethereum (ETH) continues to solidify its position as the leading blockchain platform for decentralized applications, a new development has been announced that could significantly impact its price trajectory. Currently trading at $2,658, Ethereum has shown a year-to-date (YTD) gain of 16.5%, a one-week gain of 3.4%, and a one-day gain of 1.36%. Sony Block Solutions Labs, a venture between the Sony Group and Singapore-based Startale Labs, has announced the creation of a new Layer-2 blockchain called “Soneium”, designed to attract app developers across a wide range of sectors, including entertainment, gaming, finance. With Sony’s launch of the Soneium blockchain,…
Helium (HNT), a blockchain-based network designed for the Internet of Things (IoT), has experienced a price surge of 7% in the last 24 hours, now trading at $3.74. HNT’s latest surge comes at a time when the broader cryptocurrency sector is facing a downturn. Currently, Helium boasts a market capitalization of approximately $601 million, securing the 106th position in global cryptocurrency rankings by market cap as per data by CoinMarketCap. HNT 24-hour price chart | Source: CoinMarketCap HNT’s trading volume has soared by 34% over the last 24 hours, totaling $12.2 million. In the same timeframe, HNT has traded between…
NEW YORK — Binance CEO Richard Teng urged the Nigerian government to release Tigran Gambaryan, an American employee of the world’s largest crypto exchange who has been detained in Nigeria since February. “Tigran has been unjustly held for close to half a year now,” Teng told CoinDesk during a Wednesday interview in New York. “He needs medical treatment before his conditions become permanent.” Gambaryan, Binance’s head of financial crime compliance, was detained in Abuja six months ago, shortly after voluntarily traveling to Nigeria’s capital city at the government’s invitation. At first, Gambaryan and another executive, British-Kenyan national Nadeem Anjarwalla, were…
The latest revelation about a huge transfer of mSOL from an FTX wallet to Coinbase Prime has triggered speculations among the crypto enthusiasts. It has opened a debate on the possible impact of this transfer. Here is what we know right now about the development. Transfer of mSOL from an FTX wallet to Coinbase Prime: Latest Updates The news about this huge move was revealed in a post in X by Lookonchain. As per the post, a huge sum of mSOL, worth at least $46.09 million, was transferred from a FTX wallet to Coinbase Prime. In the beginning of this…
A widely followed crypto analyst says that Bitcoin’s (BTC) current correction is reminiscent of its price action about five years ago. In a new interview with financial and tech YouTuber David Lin, crypto strategist Benjamin Cowen says that the social risk metric indicates that the crypto king is following in the footsteps of its price action from 2019. According to Cowen, the number of people watching crypto YouTube channels has dipped significantly, signaling that it could reverse course and rally as it did in 2021. “I think it’s more similar to 2019 and there’s a couple of reasons for that…
Ethereum (ETH) price attempted to surpass $2,700 this week but fell short of the target. Despite the pullback, the cryptocurrency notes a 3.50% increase in the last seven days. But as the price wobbles around the same region, long- and short-term holders appear to have different views on ETH. Ethereum Faces Mixed Outlook One way to gauge investor sentiment regarding a cryptocurrency is by analyzing the Net Unrealized Profit/Loss (NUPL) metric. This indicator measures the level of unrealized gains or losses held by market participants, offering insights into the broader sentiment and psychology of holders. The NUPL is divided into…