Author: NBTC

Singapore-headquartered cross-border payments firm Nium has raised $50 million in a new funding round, marking a 30% discount to its previous valuation. Ripple‘s payment partner Nium has cut its valuation by 30% in its latest $50 million Series E funding round led by an undisclosed Southeast Asian sovereign wealth fund. As per a blog announcement, the latest funding, which was supported by venture capital firms like BOND, NewView Capital, and Tribe Capital, valued the Singapore-headquartered firm at $1.4 billion, down 30% from $2 billion in 2022. The proceeds will be used to further accelerate the firm’s growth plans, Nium says,…

Bonk (BONK), a dog-themed token based on the Solana blockchain, surged an impressive 43% in response to a broader rally among meme coins and the proposal for a substantial treasury burn totaling a staggering 280 billion tokens. At the time of writing, BONK was up 41.82% in the last 24 hours to $0.00002134, and up 35.83% in the previous seven days. BONK’s 24-hour trading volume has risen 391%, with $431.53 million worth of trade. BONK surged to intraday highs of $0.00002192, extending a three-day rise from lows of $0.00001357 on April 18. If today closes in green, BONK will mark…

For years, crypto skeptics and believers alike have decried the lack of mainstream use cases for blockchain technology. Thousands of decentralized applications have been deployed, but mainstream use cases are scarce. That may be about to change. A singularity, a point of infinitely dense matter, is theorized to have caused the Big Bang when one such point exploded, distributing matter throughout the universe. I think we’re at an analogous moment in the history of crypto. Over the last year, developers have delivered fast, cheap blockspace to builders. You’re reading Crypto Long & Short, our weekly newsletter featuring insights, news and…

Philip Swift, the founder of the on-chain analytics platform LookIntoBitcoin, recently highlighted the significant increase in global liquidity, which just hit a new all-time high (ATH). Swift suggested this was a crucial indicator of how Bitcoin can rise in this bull run. The Most Important Indicator For Bitcoin Swift claimed that the global liquidity was the “most important” chart in this bull run while revealing that it had just hit a new ATH. The chart he shared showed that the global liquidity was now at $94 trillion and approaching the $100 trillion mark. Based on his analysis, this development could…

LeverFi, a DeFi entity that facilitates leveraged spot trading, has announced a unique development. As per the platform, it is upgrading the devnet OmniZK to testnet in the next week to deliver a decentralized and scalable infrastructure. The company took to its X account to reveal the news of this upgrade. We are excited to share that the #OmniZK devnet is upgrading to testnet in the coming week!This testnet upgrade brings us closer to delivering a leading scalable, decentralized infrastructure to support the growth of #BTC DeFi.https://t.co/nC5QyeOUu9$lever @binance — LeverFi (@LeverFi) June 6, 2024 LeverFi Unveils MoniZK’s Testnet Upgrade Apart…

Tether, the digital asset industry’s leading company, has made a strategic $18.75M investment in XREX Group, a blockchain-enabled financial institution, according to the company’s press release published today. The latest funding is part of Tether’s ongoing efforts to promote crypto adoption and financial inclusion globally. The investment is set to revolutionize USDT-based cross-border payments in emerging markets and advance regulatory technology, Tether noted. XREX will use the fresh capital to launch XAU1, a stablecoin backed by Tether Gold, in collaboration with the Unitas Foundation. With this launch, the firm seeks to offer a stable and inflation-resistant currency option. “Tether’s strategic…

Grayscale leaves no stone unturned as it adds 32K LTC ($2.3 million) to its Grayscale Litecoin Trust amid the asset falling by over 30%. An analyst predicts that LTC could replicate a pattern that sees its price reaching $370 after remaining stagnant within the $100 zone. Grayscale embarks on a buying spree following an extensive downward trend in the altcoin market that has seen assets losing between 30-40% of their previous value. According to market data, Litecoin (LTC) emerged as one of the biggest losers, having fallen from $112 to below $80. Interestingly, Grayscale “left nothing to chance” as it…

Coinbase-backed Ethereum layer-2 network, Base, is experiencing rapid growth, reflecting the significant adoption and attention it enjoys from the crypto community. Base’s growth comes amid the exchange launch of its Smart Wallet, a self-custodial solution aimed at bringing more than 1 billion users on-chain. Increased network activity Base recorded the highest daily transactions among Ethereum layer-2 networks in the past day, surpassing notable rivals like Arbitrum and Optimism. According to data from blockchain analytics platform GrowThePie, Base’s transaction count increased 7.1% to 2.7 million on June 4, compared to Arbitrum’s 1.89 million. L2Beat data further confirms this significant activity. The…

Bitcoin’s growing layer 2 ecosystem has gained a boost with the integration of Stacks into institutional digital asset provider Haruko’s framework. The move will make it easier for institutions to gain exposure to Bitcoin assets and DeFi products, which can be traded on Stacks’ scalable L2. Stacks is one of the leading layer 2s developing use cases for Bitcoin with the goal of unlocking the $1 trillion in dormant capital that exists on its decentralized protocol. Over the past 12 months, Stacks has seen a plethora of dapps and protocols launch on its L2, transforming Bitcoin DeFi from an idea…

Fans of former president and convicted felon Donald Trump have been flooding his crypto wallet with meme coins and donations since his guilty verdict was handed down last week. That influx has been enough to push the value of his holdings above $30 million, according to blockchain analytics firm Arkham Intelligence. In the past couple days, a wallet that’s been linked to Donald Trump by Arkham Intelligence has seen its Trog (TROG) meme coin holdings grow to $19.5 million at the time of writing. That’s in part because of the team behind the Trog, short for Trump Frog. The meme…