Author: NBTC

Galaxy Asset Management’s global head Steve Kurz expects top wirehouses to increase their involvement in spot Bitcoin (BTC) ETFs within the next year. “I’d be surprised in the next year if the top 10 wirehouses are not involved in this… We will probably see institutional FOMO,” he told FOX Business on February 19 during the Exchange ETF Conference in Miami Beach, Florida. The statement came as companies offering spot Bitcoin ETFs have been inundated with queries from financial advisers during the event. Some Advisors Are Banned From Recommending Bitcoin ETFs The report noted that some advisers are currently prohibited from…

Decentralized social media platform Freind.Tech, built atop Coinbase’s Layer-2 platform ‘Base’ is witnessing a major slowdown within just four months of creating a major market frenzy. However, within four months of launch, the craze around this social media platform has been waning away pretty fast. Vitalik Buterin Refers to Friend.Tech As Bad DeFi In a recent commentary, Haseeb, the founder of Dragonfly, expressed astonishment at the rapid transformation of Friend.tech from a crypto darling to a deserted project in just four months. The prevailing sentiment suggests that Friend.tech’s bonding curve played a pivotal role in its downfall, prompting a broader…

The total amount of Ordinals commissions paid exceeded 6,000 Bitcoins (BTC). According to Dune, the total fees for inscriptions minted using the Bitcoin non-fungible tokens (NFTs) Ordinals protocol exceeded 6,000 BTC, more than $257 million at the current rate. Source: Dune Additionally, with over 59 million inscriptions, the average fee per serial inscription is 0.0001 BTC, or $4.37. You might also like: Developer asks community not to underestimate Bitcoin Ordinals Bitcoin’s ordinal system allows each Satoshi, or 0.00000001 BTC, to be ordered and uniquely identified. Following the ordinal theory, assigning an identifier to each satoshi is possible depending on when…

Ethereum price is consolidating gains above the $2,575 support. ETH could start a major rally if there is a close above the $2,700 resistance. Ethereum is consolidating gains above the $2,575 support zone. The price is trading above $2,620 and the 100-hourly Simple Moving Average. There is a short-term breakout pattern forming with resistance at $2,640 on the hourly chart of ETH/USD (data feed via Kraken). The pair could start a fresh increase if it stays above the $2,575 support zone. Ethereum Price Eyes Another Increase Ethereum price gained pace above the $2,600 level and traded close to the $2,700…

As US spot bitcoin ETFs continue to notch net inflows weeks after their launches, some firms with higher-cost offerings have seen declining assets under management. While some crypto fund issuers have lowered their European product fees in response to the novel US spot bitcoin ETF launches, others in Canada and the US are standing pat for now. Executives at Purpose Investments, ProShares and Grayscale Investments, for example, have doubled down on their funds’ value propositions in recent weeks despite the firms’ bitcoin funds bleeding assets. US spot bitcoin ETF issuers sought to beat out competitors by offering the products at…

Whale Alert monitors a massive 500 million USDT transfer. Suspected Justin Sun address involved in withdrawing from JustLend. The entire sum was subsequently moved to HTX. In a notable movement within the cryptocurrency space, Whale Alert, a service that monitors large transactions across various blockchains, has reported a significant transfer involving an address suspected to be associated with Justin Sun. At precisely 15:19 UTC+8, the address in question, tagged by Arkham as potentially belonging to Sun (TT2T17…EWkU9N), executed a substantial withdrawal of 500 million USDT from JustLend, a decentralized finance (DeFi) platform. According to Whale Alert monitoring, the address marked…

Key takeaways: Sui Network has entered the top 10 decentralized finance (DeFi) rankings by total value locked (TVL) just 9 months after launching its mainnet. It currently has over $500 million in TVL Sui’s native token SUI has seen tremendous growth, surging 109% in January alone. This indicates strong demand amid Sui’s parabolic TVL growth Compared to other layer 1 blockchains like Solana and Avalanche, Sui has progressed very rapidly up the TVL charts given its age. Sui integrated with fiat gateway Banxa to improve mainstream accessibility by enabling easy fiat-to-SUI token ramps directly in Sui Wallet. Sui Network, a…

In a significant move that enriches the landscape of the digital art and collectibles market, Zora, a prominent NFT (Non-Fungible Token) marketplace, has officially extended its platform to the Arbitrum network. This expansion is marked by the launch of a special commemorative NFT named ‘Arb Zorb,’ symbolizing the collaboration between the two dynamic ecosystems. Moreover, this integration opens new avenues for Arbitrum creators, who can now leverage Zora’s innovative creator tools to mint and deploy their NFTs, potentially transforming the creative landscape on the Arbitrum network. Zora and Arbitrum: Bridging creative worlds The integration of Zora into the Arbitrum ecosystem…

Executives at three asset management firms agreed during a Feb. 13 panel discussion that pending spot Ethereum ETFs have a 50% chance of approval this May. Matt Hougan, Global Head of Research for Bitwise Asset Management, said “I think it’s probable we will get an ETH ETF reasonably soon. I think there’s a 50/50 chance by May … “ Steve Kurz, Global Head of Galaxy Asset Management, agreed that there is a 50% chance of a spot Ethereum ETF approval by May. He also predicted a 75% chance by the end of 2024. Dave LaValle, Global Head of ETFs at…

Robinhood reported fourth-quarter earnings on Tuesday. The company’s transaction-based revenues were boosted by its cryptocurrencies revenue, which came in at $43 million. Overall, transaction-based revenues were up 8% year-over-year to $200 million. Monthly active users were down 4% to 10.9 million. The company’s assets under custody also increased to $102.6 billion, a 65% increase year-over-year. The report from Robinhood added that it “plans to explore opportunities to continue growing its customer base outside the US” following its expansion into the UK and EU with the brokerage waitlist launch and the European Union crypto launch. Last year, the company announced that…