Author: NBTC
Bitcoin investors recently celebrated as the BTC price surpassed the $52,000 mark for the first time in two years. However, this joy may be short-lived due to an impending threat from Genesis, according to analysts. A bankruptcy court approved Genesis’ plan to sell shares of several Grayscale investments, including its 35.9 million shares in the Bitcoin ETF. The company’s Grayscale Bitcoin Trust (GBTC) shares are worth approximately $1.6 billion. This sell-off could put significant pressure on Grayscale and therefore the broader market. Genesis is expected to repay creditors in cash or cryptocurrency, depending on the type of currency they deposited,…
Since the ZKFair Mainnet sprang into action 48 days ago, it’s been a whirlwind of breakthroughs and blockchain prowess. From a Total Value Locked (TVL) that skyrocketed past $123 million in a mere six days, to over $100 million reimbursed to users, the journey has been nothing short of extraordinary. The rapid claiming of 97% of airdrops within three days and an impressive count of nearly 600,000 on-chain active addresses have marked ZKFair’s ascent in the layer-2 landscape. The collaboration with leading centralized exchanges like Bybit and KuCoin was established in record time, and on-chain staking has burgeoned to over…
Digital artist Mike “Beeple” Winkelmann, famous for his characteristic lack of subtlety in his digital work, minced no words in a scathing review of Apple’s new Vision Pro headset, disparaging the device as “a shitty product with zero market fit.” “[It] solves no actual real world problems and does not move the ball forward on spatial computing in a meaningful way,” the artist wrote on Twitter late Wednesday. Beeple, a noted technology enthusiast, seized headlines around the world in 2021 after one of his NFT artworks sold for $69.3 million at Christie’s. The work, “Everydays: The First 5000 Days,” remains…
One of the co-founders of Ethereum just moved over $38 million in ETH to the crypto exchange Kraken as digital asset markets move higher. First spotted by blockchain tracking firm Arkham Intelligence, Jeffrey Wilcke, one of the original founders of Ethereum, sent 10,000 ETH worth $27.52 million to Kraken early Wednesday morning. And over the weekend, Wilcke also transferred 4,300 ETH worth $10.75 million to Kraken. While it’s unclear what Wilcke is planning to do with the ETH, they could be sold on the open market through Kraken. Etherscan data shows that Wilcke still holds more than 135,738 ETH worth…
Ex-FTX US president Brett Harrison has raised an additional $12 million in seed funding for his latest venture, Architect. The startup offers crypto trading infrastructure for institutional investors. It is reportedly slated to launch a derivatives brokerage within the next two months. The round was led by Blocktower and Tioga Capital, with participation from other investors including Coinbase Ventures, ParaFi Capital and SVAngel. Despite his FTX ties, Harrison has managed to avoid becoming a pariah in the funding world. He left the firm prior to its sudden fall and has said the move was planned since April 2022. In January…
Decentralized storage platform Arweave’s AR token jumped to an 18-month high amid several developments within the blockchain network’s ecosystem. Data from CryptoSlate show that AR’s value rose to $14.68 after it soared by around 20% during the past day. This continued a run that has seen it gain over 65% during the past seven days, making it the fourth-largest filesharing blockchain network with a market capitalization of $936 million. Arweave provides storage for any type of file, including web pages, gaming data, and images, permanently and sustainably with a single upfront payment. Viewblock data shows that 76.15 pebibytes, or 85.7…
Jim Bianco has raised concerns over the potential for a new kind of volatility in the bitcoin market, spurred by the dominance of speculative traders in the recently approved spot bitcoin ETFs. This development, he warns, could lead to significant regulatory repercussions for the broader crypto industry. Spot Bitcoin ETFs Could Spell ‘Vol-Mageddon’ for Crypto, Says Analyst In a recent post on X, Jim Bianco, a prominent market analyst, has issued a stark warning regarding the potential vulnerabilities introduced to the bitcoin market by the approval of spot bitcoin Exchange-Traded Funds (ETFs). Bianco’s concerns center on the composition of the…
M^0 white paper has set rules to allow crypto institutions to mint and issue fully decentralized and fungible stablecoins backed by U.S. Treasury bills. The team is backed by Pantera and led by stablecoin pioneers from MakerDAO and Circle. The M^0 protocol aims to recreate the $5 trillion-$20 trillion offshore dollar market for the digital age. M^0 (pronounced “M Zero”), a protocol that allows global institutions to mint fungible T-bills backed stablecoins, has unveiled its white paper, website and other details about the protocol. The team, which includes heavy-hitting stablecoin pioneers from MakerDAO and Circle, emerged from stealth last year…
Non-fungible tokens (NFTs) have exploded in popularity for their ability to represent unique digital assets. However, a lingering challenge has been the lack of liquidity in NFT markets. ERC-404 offers an innovative solution by coupling the strengths of fungible ERC-20 tokens with the uniqueness of non-fungible ERC-721 tokens. What are the limitations of current token standards? Existing ERC standards like ERC-20 and ERC-721 cater to either purely fungible assets like currencies or entirely unique collectibles like digital art. This division makes it difficult to enable shared ownership or fluid exchange of distinctive digital items. Understanding ERC-404 through the Pandora project…
Ethereum price is gaining bullish momentum above the $2,700 support. ETH remains supported and eyes more upsides toward the $3,000 resistance. Ethereum is consolidating gains above the $2,770 support zone. The price is trading above $2,780 and the 100-hourly Simple Moving Average. There is a key bullish trend line forming with support at $2,700 on the hourly chart of ETH/USD (data feed via Kraken). The pair could continue to move up toward the $3,000 resistance zone. Ethereum Price Remains In Strong Uptrend Ethereum price remained well-bid above the $2,650 level. ETH settled above the $2,700 barrier to move further into…