Author: NBTC
For the overwhelming majority of NFTs, the brutal bear market of the last two years wasn’t just a phase: Some 90-95% of NFT collections will never return to pre-bear market valuations, DappRadar Head of Research Pedro Herrera recently told Decrypt. For many NFT owners, then, the question of what to do with millions of now “worthless” JPEGs is looming large. One potential solution: embracing those losses head-on, and using them to save on taxes. Unsellable, a startup founded last year that buys illiquid NFTs off weary holders at a penny apiece in order to allow those owners to take tax…
Ethereum Co-Founder Vitalik Buterin is stirring up big ideas for Ethereum, arguing that the ecosystem should not just be about money. According to him, it should be about creating a new way for online interactions freed of controls from big companies in Silicon Valley. This visionary manifesto came in a recent publication, “The End of My Childhood,” citing snippets from earlier commentary on “Make Ethereum Cypherpunk Again.” In the article, Buterin discussed a different approach to technology. He compared the usual way tech works, where big companies control everything, to a new vision for Ethereum. This vision includes using Ethereum…
Meta’s metaverse division is still raking in losses but managed to impress with revenue last quarter. Reality Labs, the company’s metaverse-focused team, notched losses of roughly $4.6 billion, though the unit took in revenue of over $1 billion. To put that figure into perspective, Reality Labs reported revenue of $727 million in the same period a year earlier. The company attributed the third-quarter revenue to sales of the Quest 3 — its newest virtual reality headset — during the holiday season. For the 12-month period ending Dec. 31, the unit reported losses totaling $16.1 billion. “We’ve made a lot of…
After implementing an aggressive deflationary campaign following its collapse in 2022, Terra Classic (LUNC) is now close to hitting the 100 billion token burn milestone. Terra Classic comes off as one of the biggest beneficiaries of the bullish rallies in the market today. The major uptick being recorded is not necessarily in its price alone but also burned tokens. Per data from Luncmetrics, the community’s collaborative efforts resulted in the incineration of 383,184,360 LUNC over the past week. This figure just tilted the total LUNC burnt since May 2022 to 98.60 billion with just 1.4 billion away from the 100…
After experiencing heightened buying pressure and a robust surge, Bitcoin’s price has breached a significant resistance region, notably the psychological threshold of $50K and the upper boundary of the multi-month ascending channel. This signals a notable bull market, with investors eyeing the possibility of Bitcoin reaching new all-time highs in 2024. Technical Analysis By Shayan The Daily Chart Upon careful examination of the daily chart, it’s clear that Bitcoin’s price has embarked on a remarkable, bullish surge, successfully reclaiming the substantial $50K resistance region and surpassing the upper boundary of a long-standing ascending channel. This indicates a prevailing bullish sentiment…
In a bid to address the liquidity challenges plaguing DeFi startups and users, INIT Capital unveils its groundbreaking Liquidity Hook model, poised to redefine the Money Market infrastructure.—INIT Capital recently closed a successful seed round, amassing over $3 million in funding. Notable investors, including Electric Capital and Mirana Ventures, have shown robust confidence in INIT Capital’s innovative approach. This influx of capital will fuel the development of Liquidity Hooks and drive further innovation in the money market sector, aligning with the evolving demands of DeFi ecosystems.Founder and Core Contributor at INIT Capital, Tascha Punyaneramitdee, shares insight into the upcoming launch…
As the year draws to a close, we do an NFT market analysis, mapping its trajectory and comparing it with the predictions experts have laid out for 2024. 2023 was not the best year to be a non-fungible token (NFT) holder or trader. Following nearly two years of unprecedented growth, a liquidity plunge hit the NFT market in Q4 2022, persisting into mid-2023. It caused the floor prices of at least 95% of NFT projects to crash near zero levels, as revealed by a dappGambl report from September. To stress the gravity of the situation, the report indicated that nearly…
Ethereum, the premier platform for smart contracts, is witnessing a slight decline in market value. This downturn is part of a broader market instability trend, largely attributed to anticipation surrounding the upcoming FOMC meeting. Presently, Ethereum price stands at $2,266, marking a modest 1.06% drop over the past 24 hours. Despite the overcast technical forecasts for an immediate rebound, Ethereum’s native advancements, particularly the much-anticipated Dencun hard fork set for 2024, are steadily advancing. Despite these recent dips, optimism for Ethereum’s future remains robust. Market enthusiasts maintain a bullish stance, buoyed by supportive technical indicators and on-chain analytics that hint…
Russia’s digital ruble pilot is gathering pace, with 17 more banks joining the Central Bank’s CBDC project. The group of banks includes heavyweights such as Sberbank and Tinkoff, the Central Bank explained in an official statement. This represents a major coup for the Central Bank. Both Sberbank and Tinkoff pulled out of the first phase of the pilot prior to launch last year. In an official Telegram post, the Central Bank explained: “The [banks] have already signed an agreement to join the digital ruble platform. [They] are now setting up their systems to enter the pilot when it is expanded.”…
Cardano (ADA) is currently making waves in the crypto space, with its social mentions potentially outshining even Bitcoin (BTC), the reigning king of cryptocurrencies. Recent data reveals a surge in interest and activity surrounding ADA, reflecting positively on its price movements and market capitalization. Cardano’s market performance As of the latest data, ADA is trading at $0.5738, demonstrating a 3.8% increase in the past day alone. This surge in value has propelled its market capitalization to $20.3 billion, showcasing a similar 3.8% increase. The current sentiment toward Cardano’s price prediction appears bullish, with the Fear & Greed Index standing at…