Author: NBTC
Bitcoin’s price has been pretty steady at around $70,000 for a while now, since mid-May. Despite this, the cryptocurrency’s price has shown minimal movement, fluctuating within a narrow 6% range. This period of low volatility has frustrated market participants, particularly as Bitcoin’s all-time high of $74,000 remains tantalizingly close yet seemingly out of reach. The lack of movement in the price has seriously annoyed traders and investors, and there has been a lot of talk about price manipulation. Adam Back, who is a contemporary of Bitcoin’s mysterious creator Satoshi Nakamoto, addressed these concerns in a recent discussion. Back suggested that…
Financial Challenges Stall IPO Plan In 2019, Chia Network,the parent company of inventor Bram Cohen’s BitTorrent, had serious troubles during its IPO. The ambitious plans of the crypto firm were disrupted temporarily,because there was financial distress at its banking partner Credit Suisse Progress Amidst Setbacks Notwithstanding the upheaval, Chia Network (xch) has persisted in a resolute push towards its aim of going public. Gene Hoffman, the CEO, shared his view during a conference hosted by law firm Brown Rudnick in Manhattan and came out with the latest details. “We confidentially filed a form S-1/A with the SEC at the end…
Binance, the world’s largest cryptocurrency exchange, has published its 19th proof of reserve in order to bring transparency to the assets held by the platform. The snapshot was taken on June 1 and reveals significant changes in user holdings in various cryptocurrencies. User BTC holdings increased by 534 BTC compared to May 1, reaching 582 thousand. The ratio of customer net balances to Binance net balances was 106.70%, and Binance holds a total of 621,329,612 BTC. The exchange balance is 602,614,161 BTC, and an additional 18,715,451 BTC is held in third-party custody. User ETH holdings reached 4.664 million, a significant…
Over the past 158 days, starting from the beginning of the year, the quantity of bitcoin held by exchanges and miners has decreased by 183,253 BTC, valued at nearly $13 billion. Roughly 90.95% of this bitcoin withdrawal originated from cryptocurrency exchange reserves. Exchanges and Miners See Massive Reductions From Jan. 1 to June 7, 2024, a substantial amount of bitcoin (BTC) has exited the reserves of bitcoin miners and exchanges. Although less than 10% of the total originated from BTC miners, their combined holdings are steadily decreasing. According to data from cryptoquant.com, around 183,253 BTC, valued at $12.9 billion, has…
Injective Protocol, a blockchain for decentralized finance (DeFi) and derivatives trading, is voting on a proposal to significantly reshape the platform’s tokenomics and introduce a new era dubbed Injective 3.0. According to Injective, through a post on April 19, the proposal is now open for voting via the Injective Hub. For the next four days, stakers and validators are free to participate. Community Voting On Injective 3.0 Over the months since launching in 2023, Injective caught the crypto community’s attention. The team aims to launch a platform for users to launch DeFi-focused protocols in a low-cost, scalable, and yet Ethereum-compatible…
A group of creditors of the now-collapsed FTX has moved to court, objecting to the crypto exchange’s bankruptcy reorganization plan, which would pay the unsecured creditors the entirety of their claims, if not more. A group led by Sunil Kavuri, one of FTX’s vocal creditors, filed the objection yesterday (Thursday) in the US bankruptcy court. They reject the reorganization plan on several grounds, including the assertion that it does not serve the best interests of the creditors. The objection further highlighted that the plan ignores property rights issues. Furthermore, it pointed out that, as the settlement with the creditors would…
Key takeaways Mandala Chain is introducing IDCHAIN It’s projected to onboard over 10 million new wallets in Indonesia. The initiative integrates government, enterprise, and public sectors on a secure blockchain platform. Mandala Chain and its vision Mandala Chain is a Polkadot parachain aiming to integrate government and enterprise applications with the public and retail sectors. The project focuses on creating real-world utility and fostering adoption, particularly in Indonesia. As a secure Layer 1 blockchain, Mandala Chain plans to revolutionize various sectors and plans to onboard over 10 million new wallets through its inaugural use case, IDCHAIN. IDCHAIN and its impact…
Bitcoin’s price currently stands at $71,347, showing an impressive rise within the 24-hour intraday range of $70,065 to $71,595. With a trading volume of $25.17 billion and a market capitalization of $1.4 trillion, bitcoin has gained 4.9% this week, 5.6% over the past two weeks, and 14.4% in the last 30 days. Bitcoin Bitcoin’s 1-hour chart reveals a recent recovery following a sharp decline, with a key resistance level at $71,629 and support around $70,116. The higher volume during recent drops indicates strong selling pressure, while the subsequent increase in volume suggests strong buying interest. BTC/USD daily chart via Bitstamp.…
Uniswap now has more v2 liquidity pools on Layer 2s than it does on Ethereum, with Base leading the pack as L2s continue to gather steam. Uniswap continues to fight the SEC on the regulatory front amid a delayed governance vote on incentives that has exposed some cracks in its decentralized ecosystem. Layer 2s on Ethereum have continued to gather steam as users seek alternatives to the mainnet’s hefty fees. The latest demonstration of this increasing influence is on Uniswap, where v2 liquidity pools on L2s have now overtaken the mainnet. Launched in May 2020, Uniswap v2 is the decentralized…
The first months of 2024 have been very satisfying for crypto airdrop hunters, who have celebrated the launches of Celestia, Altlayer, Dymension, Jupiter, Ethena, Polyhedra Starknet, Etherfi, Wormhole, Tensor, Saga and Omni Network. Now, however, many other token distributions are on the horizon: first of all zkSync, which could launch its own coin ZKS, likely by the end of April or the beginning of May. Let’s see below which projects will launch an airdrop in the near future, and let’s try to understand where it is convenient to place our liquidity for future drops. Many crypto airdrops coming in the…