Author: NBTC
Livepeer, a decentralized live video streaming network protocol, and blockchain-powered AI platform SingularityNET on Friday massive rally with huge trading volumes, sparking buzz in the crypto community. What are the reasons behind the sudden upswing? Livepeer and SingularityNET After OpenAI Sora News OpenAI announced its text-to-video artificial intelligence model Sora. It can generate videos that are realistic and imaginative. Sam Altman asked followers to suggest messages and used Sora to turn their X posts into one-minute videos. “This helps show the world how powerful generative video can be, and progress on open models is moving faster than ever. But generating…
The price of Bitcoin surged this week, touching highs not seen since the 2021 bull run. But will it last? News has dropped that a U.S. bankruptcy judge granted bankrupt crypto lender Genesis permission to sell $1.6 billion in Grayscale Bitcoin Trust (GBTC) shares. The idea is to pay back creditors waiting on their cash since the lender went bust. Just last month, the pressure from Grayscale flogging huge amounts of crypto to its custodian, Coinbase, led to a plunge in the price of BTC. So it’s only natural to wonder if, when Genesis finally does sell, the same thing…
Mantle EcoFund has successfully deployed $10 million in investments across six prominent DeFi projects within the Mantle Ecosystem, namely Merchant Moe, INIT Capital, Butter, Renzo, MUFEX, and TsunamiX. The fund operates with a substantial capital pool of $200 million under the management of Mirana Ventures.—This significant achievement follows the completion of the initial capital call, and Mirana Ventures is gearing up for a second capital call of $30 million as outlined in MIP-24. The infusion of fresh funds into these DeFi projects solidifies Mantle EcoFund’s commitment to nurturing innovation and growth within the Mantle Ecosystem.The six DeFi projects, each bringing…
Pudgy Milady, an NFT collection that uses generative AI to mimic the styles of Pudgy Penguins and Milady Maker, was originally supposed to be only 7,777 items, but the collection has started issuing new NFTs to 0x7a97A8A3959a50f834B56ab3CA0aB9BA60433028, which is then selling the newly minted tokens. This address also holds other NFTs from a variety of low floor price NFTs, many of which take the strategy of mimicking more successful collections, including FatBored which mimics the art style of Bored Apes and Penguin Punks which mimic the art style of CryptoPunks (but with penguins). The Pudgy Milady collection does not seem…
Ethereum price is consolidating gains above $2,400. ETH could start a major increase if there is a clear move above the $2,460 resistance. Ethereum is consolidating gains below the $2,460 resistance zone. The price is trading above $2,400 and the 100-hourly Simple Moving Average. There is a major bullish trend line forming with support at $2,435 on the hourly chart of ETH/USD (data feed via Kraken). The pair could start a fresh increase if there is a close above the $2,460 and $2,480 levels. Ethereum Price Aims Higher Ethereum price saw a steady increase after it broke the $2,350 resistance.…
The XRP Ledger blockchain has recently integrated a new amendment, dubbed Clawback (XLS-39), enabling issuers to reclaim tokens distributed to accounts. While this update has sparked various discussions within the XRPL community, one notable conversation revolves around the concept of a “Clawback-enabled tokenomics” proposed by Neil Hartner, a senior staff software engineer at Ripple. Hartner suggested the creation of a Robinhood (RHD) token, envisioning a redistribution of tokens from the top 10% holders to the bottom 90% at random intervals. However, Ripple CTO and co-creator of the XRP Ledger, David Schwartz, expressed skepticism toward this idea, stating sarcastically, “I love…
The XRP Ledger (XRPL) has been witnessing positive momentum in recent times, with four pivotal developments surrounding multiple projects recorded this week. Jack, a prominent XRP community figure, unveiled a list of these developments in a recent post on X. While none of them directly involves XRP, the network’s native token, the incidents underscore the attention the XRPL is garnering in recent times and contribute to its adoption. – XPUNKS going to the moon– XSPECTAR land selling out– TextRP chat app launched– CSC going multichain What a great week for the XRPL! 🤟 — Jack (@QuadJacksXRP) February 15, 2024 XPUNKs…
In just over a month since their approval by the US Securities and Exchange Commission (SEC), Bitcoin ETFs have swiftly gained traction in the market, posing a formidable challenge to the long-standing dominance of gold ETFs. Bitcoin ETFs Gain Ground on Gold ETFs The rapid rise of Bitcoin ETFs has led to a convergence in asset values, with BTC ETFs closing the gap with gold ETFs. Bitcoin ETFs hold approximately $37 billion in assets after only 25 trading days, while gold ETFs have accumulated $93 billion in over 20 years of trading. In this regard, Bloomberg’s Senior Commodity Strategist, Mike…
While offering revolutionary financial services, the decentralized finance (DeFi) sector has been plagued by a series of risks and exploits. According to IntoTheBlock, the DeFi ecosystem lost a staggering $58.78 billion from 2020 to 2023 due to exploits. This alarming figure underscores the critical need for effective risk management strategies within the DeFi ecosystem. Risk Management Challenges in DeFi Protocols DeFi risks predominantly fall into two categories: technical and economic. Technical risks involve potential vulnerabilities in protocol code that malicious actors can exploit. These were evidenced by incidents like The DAO hack and the Ronin Network bridge exploit. Economic risks…
A huge shift is coming for Magic Eden, the prominent cross-chain NFT marketplace. On Monday, the startup announced that it will open-source its minting and trading protocols in collaboration with a new Non-Fungible DAO—which itself is planning to launch a crypto token called “NFT” to reward NFT traders. On Tuesday, Magic Eden revealed more of how it plans to amplify its existing Diamonds rewards program across blockchains, while also discussing with Decrypt the ways in which users may benefit from the NFT token launch. Magic Eden General Manager Tiffany Huang told Decrypt that the Non-Fungible DAO will award the NFT…