Author: NBTC
Vitalik Buterin has stepped into the ongoing conversation about rollups, offering a fresh perspective on how they interact with external data chains. This update comes at a time when the Ethereum community is deeply engaged in discussions about the architecture and security of layer-2 solutions. Rollups in new light At the heart of Buterin’s intervention is the distinction between traditional Ethereum rollups and the “Validium” solution. In a nuanced take, Buterin explained that when an Ethereum rollup uses an external data chain for data availability (DA), it transitions into a validium. This represents a shift from the earlier understanding, where…
Hong Kong-based financial enterprise Venture Smart Financial Holdings Limited (VSFG) is gearing up to launch a spot bitcoin exchange-traded fund (ETF) in the first quarter of this year. According to reports from Bloomberg, the company has set an ambitious target of amassing $500 million in assets under management by year-end. VSFG, despite boasting the distinction of being the first virtual asset manager to secure approval in Hong Kong, has faced a notable delay in applying an ETF to the Securities and Futures Commission (SFC), the city’s financial regulatory authority. SFC Issues Circulars for Crypto ETFs In December, the SFC issued…
Miles Deutscher, a cryptocurrency analyst, announced to his 446,900 social media followers that testnet airdrops represent the simplest method for accumulating wealth in the crypto sector. Deutscher told his followers that there are “many more to come this year.” Testnet Airdrops Not as Lucrative, Easier to Access In a series of posts on X (formerly Twitter), Deutscher acknowledged that while testnet airdrop payouts may not be as substantial as mainnet airdrops, they serve as an excellent opportunity for newer investors to hone their on-chain skills without assuming excessive risk. “Testnet airdrops are the easiest way to turn $0 into thousands…
Crypto and stock market investors keenly await the consumer price index (CPI) inflation data for January by the U.S. Bureau of Labor Statistics for further cues on Fed rate cuts. Bitcoin price trades above $50,000 after a massive buying in spot Bitcoin ETFs, triggering a substantial crypto market rally. CPI and Core CPI Expectations by Wall Street Giants Wall Street giants expect a major fall in both CPI and core CPI inflation, especially after the recent CPI revision. While Fed officials are cautious on rate cuts in March, the upcoming economic data will guide better on the monetary policy outlook.…
The Ethereum Foundation has reportedly engaged in another sell-off of Ethereum (ETH), the largest altocoin. According to on-chain data, the Ethereum Foundation transferred 100 ETH, valued at approximately $253,000, to an unknown address and subsequently received an equivalent amount in DAI, a stablecoin pegged to the US dollar. Ethereum Foundation’s asset holdings The Ethereum Foundation, a key non-profit organization behind the Ethereum blockchain, maintains a substantial portfolio of crypto assets. Recent transactions suggest that the foundation’s wallet labeled “Grant Provider: 0x9ee” has made notable moves involving ETH. Despite the latest sell-off, the Ethereum Foundation’s holdings remain robust, with over 312,000…
While the selling pressure after the spot ETF approval in Bitcoin continues, CoinShares published its weekly cryptocurrency report. CoinShares stated that there were small outflows of $21 million in cryptocurrency products last week. When looking at crypto funds individually, it was seen that the majority of fund outflows were in Bitcoin. While BTC experienced an outflow of $24.7 million last week, the largest altcoin Ethereum (ETH) also saw an outflow of $13.6 million. The Bitcoin Short fund, which is indexed to the decline of BTC, saw an inflow of $12.7 million this week. When we look at the altcoins, Litecoin…
Stacks (STX), a Bitcoin layer for smart contracts has seen its trading volume jump by 36%, with its eyes set on the coveted $2 mark. Stacks Recent Performance In recent trading sessions, STX has emerged as a standout performer in the crypto space. According to the latest data from CoinMarketCap, the Bitcoin layer for smart contracts has seen a remarkable 36% increase in 24-hour trading volume, reaching $166.6 million. Trading at $1.86, Stacks is now setting its sights on the $2 mark. The market capitalization has also experienced a notable uptick, rising by 4% to $2.6 billion within the last…
Bitcoin (BTC) has surpassed the $50,000 mark for the first time since December 2021 on its way to an all-time-high. Following the bullish sentiment, the broader crypto market surged as well. Bitcoin is up by 3.9% in the past 24 hours and is trading at $50,050 at the time of writing. The flagship crypto asset’s market cap is getting close to the $1 trillion mark — currently standing at $982 billion. BTC price, whale activity, open interest, funding rate, and RSI – Feb. 13 | Source: Santiment The daily trading volume of BTC also surged by 105%, reaching $39 billion.…
Blast launched its optimistic rollup late Thursday, fulfilling a pledge to allow users to withdraw funds locked in a team multisig for over three months. The value of user deposits crept up to nearly $2.3 billion by launch time. Now users have a choice: withdraw or find something to do with the funds on the newly launched layer-2. Data from DefiLlama early Friday showed that the balance of the Blast bridge contract had plummeted by about 70%, which CoinDesk reported as “$1.6 billion outflows.” The actual amount of withdrawals is not that clear-cut. Funds are moving out of the deposit…
Ethereum price is attempting a fresh increase above the $2,550 level. ETH could continue to move up unless there is a drop below the $2,525 support. Ethereum is attempting a fresh increase above the $2,520 level. The price is trading above $2,520 and the 100-hourly Simple Moving Average. There is a connecting bullish trend line forming with support at $2,540 on the hourly chart of ETH/USD (data feed via Kraken). The pair could continue to move up if it clears the $2,600 and $2,620 resistance levels. Ethereum Price Holds Support Ethereum price remained well-supported above the $2,450 level. ETH outperformed…