Author: NBTC
The latest issued spot BTC ETFs have a prominent place among the top catalysts that drive the price rally of Bitcoin. In this respect, the top cryptocurrency may experience a supply shock because the BTC ETFs are continuously witnessing heavy accumulation of the circulating Bitcoin tokens. Since the ETFs’ approval in January this year, they have accumulated more than four percent of the presently circulating Bitcoin. BTC May Shortly Go Through a Supply Shock As Inflows in ETFs Set New Record A crypto analyst “Mister Crypto” recently took to X to disclose the breaking news. As per Mister Crypto, the…
Vitalik Buterin responded to reports of Ethereum community members bemoaning the switch from the old proof-of-work model to a proof-of-stake consensus. Amanda Cassatt, founder, and CEO of web3 marketing studio Serotonin, tweeted that several Ethereum (ETH) proponents were dissatisfied with the network’s current state. Cassatt stressed that the views were not personal and the posts mirrored conversations she was privy to. The crypto founder also listed reasons opinionated by some community members. “Been interesting to notice a lot of Ethereum community members privately expressing the wish that it had stuck with pow instead of transitioning to PoS.” Amanda Cassatt, Serotonin…
A Shiba Inu (SHIB) whale who secured $800,000 with an initial $4,000 investment missed out on clinching a $10 million return due to hasty selloffs. Shiba Inu stands out as one of the crypto assets with a rich history of turning peanuts to fortunes. The cryptocurrency’s meteoric surge during the 2021 bull run represented the largest price spike for any mainstream asset in crypto history. Research from CoinGecko confirmed that Shiba Inu successfully transformed $12 to $1 million from 2020 to 2021. Multiple early investors rode on this rally to retirement, but some, while they entered the market rally, missed…
Binance founder and former CEO Changpeng Zhao (CZ) has publicly apologized for what he described as “poor decisions” and has taken “full responsibility” for his actions. Meanwhile, Binance co-founder He Yi said that while he acknowledges that CZ may have made mistakes, his biggest one was ignorance. CZ Issues Apology and Appeals for Second Chance Following his November 2023 settlement of charges with the U.S. Department of Justice (DOJ), Changpeng Zhao (CZ) is scheduled for sentencing on April 30. The DOJ has requested a 36-month sentence despite CZ previously waiving his right to appeal any sentence up to 18 months.…
Bitcoin (BTC) miners are investing billions in equipment and consuming energy at unprecedented rates to maximize profits before the upcoming halving event in April. According to Bloomberg, the resurgence in Bitcoin mining activity is primarily driven by the cryptocurrency’s recovery. The world’s largest digital asset by market cap recently broke its all-time high record after losing 64% of its value in 2022 due to industry turmoil. This revival has been further buoyed by the introduction of spot Bitcoin exchange-traded funds (ETFs) and growing anticipation of the halving, an event occurring every four years that reduces the reward for mined blocks,…
Coinbase CFO Paul Grewal has asserted that “Ethereum is a commodity.” This claim is not without merit; the characteristics and the use of Ethereum in the digital asset space do somewhat align with the typical attributes of a commodity. Ethereum serves as “fuel” for decentralized applications and smart contracts, rather than representing an investment in an enterprise, which is a critical distinction in the security vs. commodity debate. Additionally, the Commodity Futures Trading Commission (CFTC), which regulates U.S. commodity trades, has previously suggested that it sees Ethereum as a commodity. The backdrop to this conversation is the recent lawsuit filed…
Solana was created in 2017 as a blockchain platform for scalable, decentralized applications. This project is now managed as an open-source initiative by the Geneva-based Solana Foundation, with Solana Labs in San Francisco building the blockchain. Solana’s design integrates a decentralized clock with a network of nodes that validate transactions in parallel to remove obstacles and enable linear scalability as the network expands. In this article, detailed information about Solana is provided. Read on to learn more! Breaking Down the Basics Solana’s lightning-fast transaction speeds are one of its most unique qualities. Solana uses a special mix of technology, unlike…
New powers that will make it easier for law enforcement agencies to seize crypto come into effect on Friday. The U.K. passed a crime bill last year to aid crypto seizures, allowing law enforcement agencies to seize funds before making arrests. New powers that will help law enforcement agencies seize crypto used for crime came into effect on Friday, the U.K Home Office said in a press release. As a result of these new rules, police in the country will no longer be required to make an arrest before seizing crypto holdings, the Home Office announced. The new rules came…
Pershing Square Capital Management founder and CEO Bill Ackman turned some of his attention to Bitcoin (BTC) on Saturday afternoon, cheekily suggesting a scenario in which the price for the world’s largest crypto could soar far higher than anyone might imagine. “Bitcoin price rise leads to increased mining and greater energy use, driving up the cost of energy, causing inflation to rise and the dollar to decline, driving demand for Bitcoin and increased mining, driving demand for energy and the cycle continues,” said Ackman in a post on X. “Bitcoin goes to infinity, energy prices skyrocket, and the economy collapses,”…
Renzo’s liquid restaking token (LRT) ezETH experienced a dramatic drop this week, losing over 7% of its peg with Ether (ETH) within hours, with some 50% depeg in some decentralized applications. This decline was further intensified by the liquidation of leveraged yield farmers utilizing ezETH as collateral for high-risk loans and inserts the volatility of the liquid restaking market volatility into the limelight, according to IntoTheBlock’s “On-chain Insights” latest edition. On April 24, ezETH saw a record trading volume of $1.5 billion as market participants reacted to the liquidations and the ensuing panic and uncertainty. While some in the crypto…