Author: NBTC
Spot Bitcoin ETFs have gained tremendous inflows in the past week. Since the inflows of Bitcoin ETFs have climbed to an all-time high, they have emerged as a close rival to other ETFs that were originally a market heavyweight. According to a Bloomberg report, Bitcoin ETFs are overshadowing the ProShares Bitcoin futures ETF. ProShares Bitcoin futures ETF snubbed in popularity Prior until recently, the leading exchange-traded fund associated with cryptocurrencies was the $2 billion ProShares Bitcoin Strategy portfolio. The competition from rival funds has made the futures-based ETF’s outlook more complex. According to Bloomberg, since their US debut on January…
In a significant move that is poised to reshape the landscape of decentralized finance (DeFi), PLEXUS has officially announced its strategic integration with Orbit Bridge. Oribit Chain is a cutting-edge cross-chain interoperability platform. This collaboration marks a pivotal moment for PLEXUS as it continues to push the boundaries of innovation and user-centric solutions in the DeFi space. 🚀 Exciting News!🌐 PLEXUS is now integrated with Orbit Bridge, enhancing cross-chain liquidity! 💧 Seamless transfers, expanded assets, and a thriving ecosystem await. 🌈Stay tuned for updates as we elevate your DeFi experience. To the future of decentralized finance! 🚀… pic.twitter.com/BmI5DQWnim — PLEXUS…
ETH, which rose to $2,700 in January as attention turned to Ethereum ETFs after the approval of the Spot Bitcoin ETF, fell to $2,100 with the subsequent correction. However, ETH, which has increased again in recent hours, is above the $ 2,300 level. At this point, a smart whale took advantage of the recent rise in ETH and deposited approximately 33,000 ETH, worth $75 million, to Binance. According to Spot on Chain’s post, a whale who is good at finding price peaks and valleys sent 32,930 Ethereum to Binance. “The whale named czsamsunsb.eth deposited 32,930 ETH (worth $75.74 million) to…
The increasing dominance of stablecoin tether (USDT) is bad for the wider crypto ecosystem, JPMorgan (JPM) said in a research report Thursday. The bank said it views the “increasing concentration in tether over the past year as a negative for the stablecoin universe and the crypto ecosystem more broadly. Stablecoins are facing regulatory risk across multiple jurisdictions, and “tether is mostly at risk given its lack of regulatory compliance and transparency,” analysts led by Nikolaos Panigirtzoglou wrote. There is an opportunity for other stablecoins, however, as issuers that have been more aligned with existing regulations could benefit from any resulting…
While there have been many hacking incidents in the cryptocurrency industry, Trust Wallet, the cryptocurrency wallet owned by Binance, was among the hack victims. While Trust Wallet suffered many cyber attacks in 2023, US authorities put Trust Wallet under investigation. According to Coindesk, the National Institute of Standards and Technology (NIST) of the US Department of Commerce is investigating a possible security vulnerability in Binance’s Trust Wallet iOS application. It was stated that these vulnerabilities have the potential to enable hackers to steal money from cryptocurrency wallets. At this point, NIST claimed in its statement that the trezor-crypto library used…
Friday has come around again and that means it is Bitcoin options contract expiry day. With the asset topping $50,000 this week, will the billion-dollar-plus notional value expiry push prices higher? Around 21,150 Bitcoin options contracts will expire on February 16. This week’s expiry event is a little larger than last week’s, which was followed by BTC hitting a major strike price at $50,000. Bitcoin Options Expiry The notional value of this week’s big batch of Bitcoin contracts is $1.1 billion, according to Deribit. Moreover, the put/call ratio is 0.90, which means the sellers of long and short contracts are…
Dolomite says vARB is a “vote-enabled ARB” token that will allow holders to participate in Arbitrum’s governance through voting. While it cannot be lent or borrowed, vARB means users can use their ARB collateral to vote. DeFi protocol Dolomite has launched vARB, a “vote-enabled ARB” token that allows holders participate in governance voting on the Arbitrum network. vARB is not a new token, and is non-transferable and non-tradable. Unlike ARB, users won’t be able to lend or borrow this token, the protocol said in a press release shared with CoinJournal. However, vARB will allow holders to tap into ARB tokens…
The co-founder of Solana game MixMob, Pavel Bains, says that most of the funding for Web3 and NFT games is granted for the wrong reasons. He said the key to a successful game is a pool of developers with experience in multiple industries to improve on the likes of Axie Infinity. Bains said that the true innovation lies in combining human capital and technology. An impressive pitch deck may impress investors, but the resources required for such games are often overlooked. How Games Could Move Beyond Axie Infinity Bains said it takes time to build good Web3 games. Those in…
Ethereum’s price held above $2,300 over the past 24 hours, ranging between $2,266 and $2,333. The cryptocurrency faces technical resistance at its recent highs according to an analysis of key oscillators and moving averages. These indicate continued neutral to bullish momentum over the past month across the daily, 4-hour, and 1-hour timeframes. Ethereum Key oscillators for ethereum (ETH) like the moving average convergence/divergence (MACD), awesome oscillator, and momentum indicators show positive momentum, trending upwards from earlier lows. However, the relative strength index (RSI) of 49.3 suggests potential overbought conditions. The Stochastic oscillator also indicates potentially overbought conditions at a neutral…
Mobile payments app Oobit raised $25 million in a Series A funding round, the company said Monday. The round was led by the investment arm of Tether, CMCC Global’s Titan Fund, 468 Capital and Solana co-founder Anatoly Yakovenko. A spokeswoman for the Singapore-based company declined to say how much the investment valued the company. Consumers can use the Oobit app to pay for purchases using crypto, while merchants receive fiat currency. The tap-and-pay feature helps make crypto payments more accessible, as users can pay at any point of sale that accepts Visa (V) or MasterCard (MA) using funds from their…