Author: NBTC
The Aave community has overwhelmingly approved a proposal that will set the ball rolling for deploying Aave V3 on Solana, a smart contracts platform. The motion, put forward by the Neon Foundation and the Aave Chan Initiative (ACI), passed with a majority vote of 83% based on results posted on January 21. Solana Fast Rising, DeFi Ecosystem Active Solana has been rapidly expanding, with its native currency, SOL, emerging as one of the top performers in 2023. To put it in perspective, SOL prices exploded from about $10 in 2023 to around $125 by the end of the year. This…
An under-the-radar partnership between NFTScan and OneID reportedly integrates technologies from both domains in an effort to improve Web3. NFTScan OneID is one of the components comprising the critical NFT data infrastructure. This alliance introduces a novel search paradigm that has the potential to revolutionize how NFTs are perceived. Nonetheless, this transition is of the utmost importance, as it unveils a more robust yet more streamlined decentralized framework in which security will be mandated. NFTScan, along with Wide Wallet and Getty Images, joined with OneID, making it a pleasant moment. With the advent of an industry-wide revolution that strives for…
Ethereum (ETH) could be on the verge of a significant decrease if recent events eventually impact the price. On February 10, Lookonchain confirmed that co-founder of Ethereum Jeffrey Wilcke transferred 4,300 ETH, valued at $10.7 million to the crypto exchange Kraken. Jeffrey Wilcke, the Co-founder of #Ethereum, deposited 4,300 $ETH($10.7M) to #Kraken 7 hours ago.https://t.co/STceT5cQmT pic.twitter.com/ROG0evjirh — Lookonchain (@lookonchain) February 10, 2024 Whenever a large volume of cryptocurrency is sent into an exchange, it usually means the participant involved is ready to sell. The incident sparked discussion among market watchers and investors who wondered why a founding member of the…
In a court filing, FTX announced its intention to sell off its subsidiary company, Digital Custody Inc, for approximately one twentieth of its initial purchase price across two transactions in 2021 and 2022. The FTX estate is selling off assets to boost liquidity, aiming to repay its million-plus creditors. FTX Plans To Sell Digital Custody to CoinList A court filing reveals that the FTX estate plans to sell its subsidiary, Digital Custody Inc (DCI), to the crypto exchange CoinList for $500,000. FTX initially acquired DCI from Terrence Culver for $10 million, marking a twentyfold difference in the sale price. “As…
A recent study focusing on the search term “bitcoin” through Google Trends data revealed that curiosity remained subdued even as the price soared above the $50K mark. Yet, anticipation for the forthcoming reward halving has hit a 90-day peak. Slated for April 2024, this significant occasion will slash the pace at which new bitcoins are generated by 50%, sparking widespread interest in the topic. From Benin to Switzerland: The World Turns Its Eyes to Bitcoin Halving The excitement surrounding the anticipated subsidy reduction, known as bitcoin halving, reached its zenith with a perfect score of 100 on Google Trends in…
Despite a 38% fall in weekly crypto trading volume across all decentralized exchanges (DEXes) on smart contract platforms, Solana’s DEXes maintained their ground, losing only 8.6%, according to data from DefiLlama. Meanwhile, Optimism endured a loss in total trading volume exceeding 60%, the largest among the top 10 chains by total value locked (TVL). Polygon and Arbitrum also saw drastic losses in volume, both around 50%. Saber and Raydium were the DEXes behind Solana’s relatively small loss, with 45% and 32% growth in trading volume, respectively. Moreover, Solana is closing in on Ethereum’s lead in decentralized exchanges dominance, as seen…
The sale of a debut collection of “Quantum Cats” Bitcoin inscriptions by Ordinals project Taproot Wizards was marred by technical issues on Monday. The planned sale of around 3,000 digital cats, designed to honor a Bitcoin improvement proposal known as OP_CAT, commenced with a two-hour “whitelist” window at 17:00 UTC Monday, but this had to be postponed until Tuesday due to the issues encountered. “There’s been an incredible demand for the cats today, and our servers simply couldn’t handle the amount of people who were trying to mint,” Taproot Wizards posted on X, adding that 30% of the cats had…
Ethereum has shed a significant part of its supply since the London upgrade, applied in August 2021. According to ultrasound.money, a portal that records several statistics associated with the ETH burn, over 4 million ether (3.2%) have been removed from the network since the adoption of EIP-1559, which changed how fees are calculated. EIP-1559 Burns Over 3% of Its Ether Supply Ethereum has reduced its supply significantly since the London upgrade, which was applied to the network in August 2021. The implementation of Ethereum Improvement Proposal 1559 (EIP-1559), a proposal that changed how fees are calculated and introduced a burn…
Blockchain appears to be losing momentum as more and more institutional traders lose their belief in the technology, a recent survey by JPMorgan shows. According to a recent survey conducted by JPMorgan among more than 4,000 institutional traders, an alarming shift in confidence can be noticed, as only 7% of respondents retain confidence in blockchain technology as a prospective asset over the next three years. The figure marks a 72% significant decrease from 2022 when 25% of respondents viewed blockchain as a promising technology. Despite this decline, blockchain technology still holds the third position in terms of prospects, following API…
In a bold move, Ohio, South Carolina, and Mississippi have emerged as frontrunners in safeguarding citizens’ rights to leverage Bitcoin (BTC). These U.S. states have introduced bills aimed at fortifying fundamental liberties associated with digital currency. This comes as analysts suggested a bullish outlook for the Bitcoin price after a rally beyond $52,000. What Will The Bitcoin Rights Bill Change? According to the CEO and founder of Satoshi Act Fund, Dennis Porter, the move was initiated by Rep. Demetriou of Ohio, Senator Verdin of South Carolina, and Rep. Steverson from Mississippi. In addition, he noted that this legislative initiative champions…