Author: NBTC

The National Bank of Cambodia (NBC) has recorded wins in its campaign against the dollarization of the local economy using Bakong, its version of a central bank digital currency (CBDC). Since the Southeast Asian country returned to civilian rule, the U.S. dollar has played a role in payments, accounting for a significant chunk of local transactions. While relying on the U.S. dollar for stability, Cambodia’s economy became prone to external shocks as NBC lost control over monetary policy. The NBC rolled out Bakong to operate as a digital currency payment system, with experts describing the offering as a CBDC. Launched…

The Shibarium network, a key component of the Shiba Inu ecosystem, has recently witnessed an eye-catching surge in transaction fees. Over the past five days, the average amount spent on Shibarium transactions has increased from 0.0026 BONE on July 5 to 0.014 BONE by July 10. This data is from Shibariumscan. BONE, another native token of Shiba Inu, plays a major role in the ecosystem’s blockchain by covering transaction fees, thereby contributing to the burning of SHIB tokens. This process results in a reduction of the total supply of SHIB, which directly affects its scarcity, inflation and price. Worryingly, despite…

Bitcoin price tumbled below the $64,050 on June 18 2024, as bears forced the month-long BTC downtrend to a 35-day bottom, but the current dynamics in the derivatives markets signal bullish resilience among traders. Bitcoin Price Dives to 35-Day Low After a promising start to the month, Bitcoin price retested the $71,900 mark on June 6. But since the overheated labor market data release by the US authorities on June 7 which signalling unrelenting inflation, BTC has succumbed to bearish pressure. On June 18, the Bitcoin downtrend reached a record low unseen in over 30 days, dating back to May…

Ethereum generated $2.7 billion in costs, preceding the blockchain industry in 2024. Validator withdrawals of 143,000 ETH could impact market dynamics soon. Ethereum’s burning mechanism reduces supply as demand increases, strengthening its market position. Ethereum’s Revenue and Market Activity Ethereum’s strong revenue generation reflects its solid market position. The network’s success comes from its wide ecosystem, which includes many software applications and active users. Ethereum’s ability to generate high fees shows its durability and flexibility in the changing blockchain landscape. This performance shows a clear preference among developers and users for Ethereum over other platforms. Moreover, Ethereum’s fee revenue is…

In the first 12 days of Aug., $141.3 million has flowed into crypto, defi, and blockchain ventures, according to recent metrics. Morpho, a decentralized lending developer, accounted for roughly 35.38% of the total funds raised across 20 different projects. $141.3 Million Floods Into 20 Crypto Startups and Projects Even with the crypto markets experiencing a downturn, venture capital continues to pour in, amounting to $141.3 million so far across 20 different startups. Morpho led the pack, raising $50 million in a funding round spearheaded by Ribbit Capital, with Brevan Howard, Kraken Ventures, A16z Crypto, Coinbase Ventures, and Pantera Capital also…

Today, enjoy the Lightspeed newsletter on Blockworks.co. Tomorrow, get the news delivered directly to your inbox. Subscribe to the Lightspeed newsletter. Howdy! I misread yesterday’s reports as saying Severance season two would be dropping today, so I’m a bit grumpy after finding out I’ll be hanging onto this cliff for six more months. After scrolling X during this most recent crypto slide, some of you could use a little severance from DEX Screener. That’s the grumpy brain speaking. Anyways: Nina’s Solana solution for indie music distribution Recently, I’ve been playing with Nina, which is a Solana-based platform for artists to…

Bitfinex analysts assessed that the Bitcoin (BTC) price is unlikely to be significantly affected by the outcome of the US presidential debate between Joe Biden and Donald Trump on June 27th. Yet, the broader crypto market and the tokens related to presidential candidates, labeled by the analysts as PolitiFi tokens, could witness some short-term changes. “Both Biden and Trump have well-documented stances on cryptocurrencies and financial regulations. The market has already factored in their positions, so any reiteration of these views during the debate is unlikely to introduce new volatility,” explained Bitfinex analysts. Notably, Bitfinex analysts stated that it’s important…

The Ethereum (ETH) price is currently forming a pennant pattern, according to crypto analyst Ali Martinez. In his recent post on X, he pointed to a pennant forming lower time frames, indicating a potential rise of over 4% toward $2,820. According to Ali Martinez, the most important support level for Ethereum is between $2,314 and $2,435, where 2.14 million addresses acquired 51.67 million $ETH, while the current target is $2,930. Ether in critical condition Ethereum has had one of the sharpest declines during the recent market correction, which cost Ether losing almost a third of its value in a matter…

A savvy Polymarket user walked away with almost $1 million after accurately predicting the exact words former President Donald Trump would—and would not say—during a high-profile X Spaces conversation with Elon Musk. Known as “bama124” on the decentralized betting platform, the user has built an impressive portfolio with a total position value of over $2.25 million after only joining Polymarket in July. This @Polymarket user walked away with close to $1m guessing correctly on what words @realDonaldTrump would or would not say during the @XSpaces with @elonmusk https://t.co/YQSogcy8ED pic.twitter.com/Xko3Bpg5w2 — Sam Reynolds (@thesamreynolds) August 13, 2024 Some of the markets…

Viral Telegram game Notcoin, in partnership with DeFi platform 1inch and on-chain attestation protocol Sign, announced Wednesday the launch of Triangle, a new accelerator program aimed at supporting developers building on the Telegram messaging platform and The Open Network (TON). Triangle seeks to bridge crypto and traditional technology, leveraging Telegram’s 900 million active users to drive mass adoption of crypto applications. It will offer “essential resources, guidance, and a community of experienced builders” to participants, per a press release. It will focus on areas including TON infrastructure, decentralized finance, and consumer applications bridging “Web2” and Web3. Mentors include executives from…