Author: NBTC
Consensys CEO and Ethereum (ETH) co-founder Joseph Lubin says there’s a massive amount of sidelined capital waiting for crypto exchange-traded funds (ETFs) to hit the market. In an interview with CNBC, Lubin says there are hundreds of billions of dollars sitting in the hands of professionals in the traditional finance industry waiting for easier, regulated exposure to digital assets via an ETF. “There is so much money on the sidelines managed by registered investment advisors (RIAs) in different kinds of funds like retirement funds and companies that want to access the technology, that want to gain exposure to these uncorrelated…
USD-backed stablecoins remain the most popular real-world assets (RWA) in the crypto and blockchain space today. On Tuesday, the Tokenized Asset Coalition (TAC) released its ‘State of Asset Tokenization: Inaugural Annual Report.’ According to its findings, stablecoins are considered the ‘silver lining’ for RWAs, despite the dip in total value over the past two years. The report notes that when compared to blockchain and VC activity in the crypto space, centralized USD stablecoin issuers Circle and Tether remained relatively resilient to bear market volatility. According to information available on DeFiLlama, stablecoins currently have a market cap of $133.88 billion, with…
A discreet yet significant development has emerged within the SHIB community, as an unidentified individual has recently achieved the status of trillionaire within the Shiba Inu ecosystem. Etherscan data confirms that this enigmatic figure has amassed a substantial portfolio, now totaling over 1.14 trillion SHIB tokens, with an estimated value of $10.66 million. The latest influx of tokens, comprising 200 billion SHIB, was transferred from the renowned exchange Binance to the individual’s wallet approximately 20 hours ago, further solidifying their position within the market. Coinciding with this notable acquisition, the price of Shiba Inu experienced a modest increase of nearly…
Quick Take Since the approval of Bitcoin ETFs on Jan. 11, the price performance of the digital asset has illustrated an unpredictable pattern, peaking around $49,000 before dipping below $40,000. As of now, Bitcoin hovers around $48,000. This volatile behavior extends to crypto equities and Bitcoin ETFs, which have displayed divergent performances. Bitcoin-related mining stocks such as Iris Energy and Marathon Digital Holdings have notably experienced double-digit declines of 11% and 12%, respectively. However, not all equities mimic this downward trajectory. CleanSpark and MicroStrategy, for instance, have seen their stock prices surge by 31% and 11%, respectively. Meanwhile, Coinbase suffered…
Ethereum price climbed higher above the $2,450 resistance. ETH outpaced Bitcoin and seems to be setting up for a larger increase toward $2,880. Ethereum is gaining pace above the $2,450 resistance level. The price is trading above $2,500 and the 100-hourly Simple Moving Average. There was a break above a key rising channel with resistance near $2,440 on the hourly chart of ETH/USD (data feed via Kraken). The pair is already up over 5% and might rise further above the $2,650 resistance. Ethereum Price Gains Strength Ethereum price started a decent increase above the $2,350 resistance. Recently, BTC’s spot ETFs…
Cronos Labs, a blockchain business accelerator focused on advancing DeFi, GameFi, and the Cronos ecosystem, today revealed the third cohort of its flagship Cronos Accelerator Program, which is backed by whopping $100 million. The initiative, which was first introduced in 2022, aims to support the most promising early-stage cryptocurrency projects that are based on Cronos by giving them access to finance, networking, and mentoring. By doing this, Cronos Labs hopes to promote creativity and accelerate development both inside the Cronos ecosystem and in the broader Web3 sector. Applications for the Cronos Accelerator Program have increased by 57% in the Third…
The Flare Network team has continued to decrease the circulating supply of its native token FLR, recently sending a whopping 66 million FLR tokens to the burn address. Implementing a deflationary model remains one of the primary ways Web3.0 projects attract immense value to their native currencies. With many projects recording successes with this move, Flare Networks is also determined to join the train. The Flare Burn – Price Impact As detailed by the team on X, they just sent 66,293,390 (66.29 million) FLR to dead wallets. This figure is worth a market value of $1,939,081 against prevailing rates. The…
The price of Bitcoin (BTC) has broken past $50,000 per coin for the first time since December 2021. Coinbase data shows that the largest digital asset by market cap hit the $50,000 mark at 11 a.m. Eastern Time (5 p.m. Central European Time) on Monday. Source: Screenshot of Bitcoin price on Coinbase exchange The asset, which this time last year was priced at less than $22,000, is up by more than 15% over the past seven days. Over the past month, it has risen by 16%. BTC looked like it was having a slow year after the approval of several…
With spot Bitcoin exchange-traded funds poised to start trading after official approval, the crypto industry can let out a collective breath. Investors can start looking toward the next big narrative — Ethereum restaking. Crypto market analytics platform CoinGecko has just launched a new category for restaking tokens, leading analysts to speculate that this could be a big growth area this year. Ethereum Restaking Narratives In essence, restaking allows users to stake the same ETH on both Ethereum and other protocols. This secures all of these networks simultaneously, allowing for the leverage of existing trust networks. By leveraging Ethereum’s validators and…
The dominance of the U.S. dollar as the linchpin of the international financial system is being increasingly questioned due to shifting geopolitical currents and the country’s growing twin deficits, Wall Street giant Morgan Stanley (MS) said in a report last week.Enter cryptocurrencies, which, while still in their early stages, have the potential to both erode and reinforce the dollar’s dominance in global finance, the bank said.“The recent growth in interest of digital assets such as bitcoin (BTC), growth of stablecoin volumes and the promise of central bank digital currencies (CBDCs), have potential to significantly alter the currency landscape,” wrote Andrew…