Author: NBTC
Spot Bitcoin (BTC) exchange-traded funds (ETFs) in the United States have experienced a reversal in investor sentiment, seeing net outflows following four consecutive days of inflows. The significant contributor to the shift was Grayscale’s GBTC spot ETF, which recorded a single-day net outflow surpassing $303 million. However, other Bitcoin ETFs saw net inflows during this period, with Bitwise Bitcoin ETF leading the way with a net inflow exceeding $40 million, followed by BlackRock’s iShares Bitcoin Trust with a net inflow of over $21 million, as per data from Farside. Spot Bitcoin ETFs See $224 Million in Net Outflows When considering…
The decentralized finance (DeFi) sector continues to evolve, with several significant launches and updates making waves. BeInCrypto has examined the latest happenings, providing a comprehensive overview of the most noteworthy developments in the DeFi space. From the launch of dYdX’s Android app to 3Jane’s derivatives yield layer, the sector is brimming with innovation and progress. Term Structure’s Mainnet Launch Term Structure has now launched its mainnet on Ethereum (ETH). This marks the debut of the first market-driven, institutional-grade fixed-income protocol. It is changing how lenders and borrowers manage liquidity in DeFi. This platform lets users borrow tokens at fixed rates…
Pallavi Thakur, Director of Strategy and Innovation at Swift, and Ryan Rugg from Citi shared insights at Money20/20 from their recent collaborative CBDC experiment. Both Thakur and Rugg cited the rapid progress of the global adoption of central bank digital currencies (CBDCs). However, they underscored the pressing need for interoperability among different systems, a challenge that demands immediate attention. “It’s like the early days of the Internet. You have all these various intranets developing,” Rugg said. “What’s going to be the connectivity between all of it?” Adoption of CBDCs The adoption of CBDCs is gaining momentum globally as central banks…
A new animation of one minute, 24 seconds in length, featuring Elon Musk and Dogecoin (DOGE), is generating a major buzz in the crypto space as the short clip addresses prevailing concerns of interoperability in the Web3 ecosystem. The post, shared on X by Sir Doge of the Coin, speaks of introspection with Michael Jackson’s classic song, “Man in the Mirror,” used as the soundtrack to the short animation with a powerful message for players in the cryptocurrency space. Musk suffers insomnia from DOGE rejection The animation portrays the frustrations that greet users of one platform who are unable to…
Funtico, an all-new incentivized gaming platform with unreal prizes, is set to launch soon and bring the world of Web3 gaming into the next generation. Funtico is doing Web3 gaming right – with a competitive environment and an ecosystem that rewards those who battle and play to win. Funtico chose to come to Avalanche for the power of customizable subnet blockchains with the scalability that the high demands of gaming require. The freedom that subnets provide developers continues to reinforce Avalanche as the premier space for Web3 gaming. Avalanche and Funtico will work together to bring an initial roster of…
The U.S. Energy Information Administration (EIA) estimates Bitcoin mining uses about 170 TWh of electricity per year, or about 0.6% to 2.3% of annual American electricity consumption. The aggregate market cap of 14 publicly traded U.S. mining companies totals about $20 billion, according to an April report by JPMorgan Chase. As the Bitcoin mining industry has grown, so too has its reputation. And that reputation is largely negative. Discussions with three different Bitcoin mining executives through more light about their operations and the reality of Bitcoin mining. Chronos Energy Chronos Energy is an off-grid Bitcoin mining company that utilises stranded…
The percentage of bitcoin’s circulating supply last active at least a year ago has declined from 70% to 65.8% in three months. The decline probably indicates profit-taking by some investors in a rising market. The percentage of bitcoin’s circulating supply that last moved on-chain at least a year ago has declined to the lowest since October 2022, according to data tracked by blockchain analytics firm Glassnode. On Monday, 12.95 million BTC, equating to 65.84% of the circulating supply of 19.67 million BTC, remained unchanged for over a year, the lowest percentage since October 2022. The metric peaked above 70% with…
Shiba Inu marketing specialist Lucie recently explained how the upcoming TREAT Token benefits the SHIB ecosystem amid queries and misconceptions. Shiba Inu is gearing up for a significant expansion with the introduction of its latest addition, the TREAT token. Lucie’s disclosure came on the back of comments from some proponents following the announcement of a $12 million funding round dedicated to its development. Benefits of TREAT to the Shiba Inu Ecosystem She shed light on the pivotal role TREAT will play within the SHIB ecosystem. At its core is the function as the ecosystem reward token. Once operational, users engaging…
Alex Gadstein, Chief Strategy Office of the Human Rights Foundation (HRF), appeared in an interview on the What Bitcoin Did podcast, published on April 8, to talk about the ultimate use cases for Bitcoin (BTC). In a 1-hour interview, Gladstein explained that Bitcoin is not just an investment, highlighting how bad it is for dictators. Interestingly, Bitcoin is a technology, or a tool, that facilitates savings, commerce, freedom, and energy efficiency, according to HRF’s CSO. “Bitcoin is not just a savings technology, it’s not just a freedom technology, it’s not just a commerce technology, it’s an energy savings technology. The…
According to data shared by Etherscan, over a day ago, a recently set up cryptocurrency wallet purchased several hundred billion SHIB meme coins. Whale grabs 237.8 billion SHIB The transaction was made from an anonymous wallet that may indicate an OTC purchase or a whale distributing his cryptocurrency stash between smaller blockchain addresses. A whopping 237,868,630,126 SHIB were transferred to the aforementioned wallet in total. This amount of meme cryptocurrency is evaluated at $6,290,435 at the time of this writing. The purchase took place after the SHIB team made a major announcement about securing $12 million in investments for developing…