Author: NBTC
Renzo’s liquid restaking token (LRT) ezETH experienced a dramatic drop this week, losing over 7% of its peg with Ether (ETH) within hours, with some 50% depeg in some decentralized applications. This decline was further intensified by the liquidation of leveraged yield farmers utilizing ezETH as collateral for high-risk loans and inserts the volatility of the liquid restaking market volatility into the limelight, according to IntoTheBlock’s “On-chain Insights” latest edition. On April 24, ezETH saw a record trading volume of $1.5 billion as market participants reacted to the liquidations and the ensuing panic and uncertainty. While some in the crypto…
Shiba Inu (SHIB) has recorded mostly bearish slumps in all metrics since the start of April and the new quarter. However, data from Shibburn.com shows that the burn rate of the meme coin has hit a major recovery ride, soaring as high as 2,355.86% over the past 24 hours. With this upsurge, it has seen as much as 110,474,927 SHIB sent to dead wallets. Shiba Inu has always relied on the burn rate metric as a major catalyst to revive interest in digital currency. The current Shibburn data shows a defined commitment to the deflationary move from members of the…
Terraform Labs (TFL) announced changes to its operations on April 25 in light of a recent court ruling related to the SEC’s case against the company. TFL said it expects to receive a conduct injunction soon that will bar it from certain activities in the US. The company added that it will prepare for the injunction by barring US users from accessing some products and features starting in the week of April 28. TFL called the development “frustrating” and said it is “against geoblocking as a matter of principle” but has no choice but to adapt. The policy change will…
The Bitcoin Therapist, a pseudonymous Bitcoin (BTC) maximalist account on X, posted that the coin can hit hundreds of thousands of dollars. However, the handle noted that his prediction was based on the price of MSTR, Microstrategy’s stock. Feels like $MSTR could potentially hit $5,000-10,000/share by EOY. Obviously that would require a #Bitcoin price in the hundreds of thousands. The biggest mistake anyone can make is to doubt Michael Saylor. He’s an absolute genius. He is playing Wall Street like a fiddle. — The ₿itcoin Therapist (@TheBTCTherapist) March 10, 2024 According to him, MSTR could hit between $5,000 to $10,000…
James Fickel, founder of the science and technology-focused Amaranth Foundation and early Ethereum investor, made a significant move in the cryptocurrency market, spending 24.7 million USDC to purchase 7,814 ETH at a price of approximately $3,161 per ETH in 40 minutes. This move is part of a larger strategy by Fickel, who currently funds 128,516 ETH (valued at $404 million) and 40.97 million USDC into the Aave platform. Fickel has also held a long position in the ETH/BTC trading pair since December 2023, borrowing 2,266 WBTC (worth $146 million). In other whale news, a crypto whale deposited a significant amount…
An unknown user recently burned over 105 million Shiba Inu tokens in a single transaction amid the current crypto asset’s bearish trend. The month of April started poorly for cryptocurrency industry. Just two days into this month, the prices of notable crypto assets, like Shiba Inu, have plummeted heavily. Notably, Shiba Inu’s price has slumped by 11.7% since the beginning of the month. In the hours leading up to press time, Shiba Inu was trading at $0.00002687, marking a 6.3% decline in the daily charts. Shiba Inu Community Burns 110M SHIB in 24 Hours, But Price Slumped SHIB’s latest price…
A South Korean prosecutor was jailed for leaking sensitive information in a high-profile crypto fraud case, domestic media outlets reported on April 25. Per Segye Ilbo, Gwangju District Court’s Criminal Division sentenced an unnamed prosecution investigator (aged 56) in the city of Mokpo to a year in prison. The court heard that the prosecutor took a bribe in exchange for disclosing information about an active prosecution and police probe into altcoin-related fraud. South Korean Prosecutor Jailed – More to Follow? The case has captivated the public attention in South Korea. Investigators think that a suspected fraudster (aged 45) hired a…
The Bharat Web3 Association (BWA), an industry body formed to promote and grow the Web3 industry in India, has signed a memorandum of understanding (MOU) with Japan ANICANA Dealers Association (JADA) to explore collaborative opportunities in Web3 technologies. Both the associations would engage in joint initiatives focused on Web3-related advocacy, educational conferences, workshops, and thought leadership activities, the BWA said in an emailed statement. The collaboration aims to foster a conducive environment for knowledge-sharing, innovation, and industry advancement within the Web3 ecosystem. “We hope to leverage our partnership to exchange insights on use cases, manage risks through regulatory frameworks, and…
Yuga Labs, the team behind the Bored Ape Yacht Club (BAYC) NFT collection, has initiated a company restructuring to prioritize its core crypto business, which includes the Otherside metaverse project, said Greg Solano, the company’s co-founder, in a recent post on X. gm, really tough day today. I am hellbent on transforming yuga and getting us back to our roots, and that means making hard decisions. by far the hardest is saying goodbye to some talented team members. here was my message to the team this morning. pic.twitter.com/gBkoNf2iK3 — Garga.eth (Greg Solano) 
(@CryptoGarga) April 26, 2024 As part of…
Billionaire venture capitalist Chamath Palihapitiya says Bitcoin is approaching its watershed moment as BTC makes its way into American households. In the latest episode of the All-In Podcast, Palihapitiya says the approval of spot market Bitcoin exchange-traded funds (ETFs) is changing the game for BTC. According to the venture capitalist, it’s still early days for Bitcoin and a time will come when BTC becomes the talk of the nation. “We’re going to get to a tipping point where everybody really talks about this. I still don’t think we are there yet. I think we’re just at the beginning, but when…