Author: NBTC

A joint project between the Bank for International Settlements (BIS) Innovation Hub and the Bank of England (BoE) has shown it can deliver near real-time data on stablecoins‘ liabilities and the assets backing them. In a report, the two banking bodies outlined the initiative—Pyxtrial—which has been exploring how technology solutions can enable the monitoring of asset-backed stablecoins’ balance sheets, providing insight into whether the backing assets exceed their liabilities at all times. “Stablecoins are a growing and largely unregulated sector with a market capitalisation of around US$162 billion as of June 2024… there is a lack of appropriate supervisory technology…

Arbitrum (ARB), one of Ethereum’s (ETH) most popular second layers, will unlock over $65 million in tokens on July 16. This will increase Arbitrum’s native token circulating supply by nearly 3% and could impact its price, creating a selling pressure. Finbold retrieved this data from TokenUnlocksApp on July 13, highlighting cryptocurrency cliff unlocks for the next seven days. In particular, Arbitrum stands out as the largest unlock in US dollar nominal value, representing 37% of the $174.88 million. Notably, the team will end vesting contracts with 56.13 million ARB, worth $39.39 million. Meanwhile, private investors will have $25.63 million in…

Russian President Vladimir Putin has officially signed a law that legalizes cryptocurrency mining in Russia. According to a report by Russian news agency TASS, the law introduces several key concepts, including digital currency mining, mining pools, and mining infrastructure operators. Mining activities are now recognized by Russia as part of turnover rather than the issuance of digital currency. The new legislation specifies that only Russian legal entities and individual entrepreneurs registered with the government will be allowed to engage in cryptocurrency mining. However, individual miners can participate without registration, provided their energy consumption remains within government-set limits. Additionally, the law…

Shiba Inu lead developer Shytoshi Kusama is confident that interoperability issues between scaling solutions on the Ethereum network could be resolved sooner than people expected. Kusama shared this sentiment while reacting to a recent post from Ethereum co-founder Vitalik Buterin. The Ethereum founder argued that cross-L2 interoperability problems could soon disappear, noting that many would be surprised by how quickly this would occur. He believes the issues related to the interaction of various Layer 2 (L2) scaling solutions on the Ethereum network will be resolved sooner than people expect. Ethereum L2 Interoperability Problems For context, cross-L2 interoperability refers to the…

While the leading cryptocurrency Bitcoin and altcoins started the new week with a decline, a news about Mt.Gox payments caused the BTC price to fall below $ 61,000. While investors are worried about further declines, some market analysts also predict that the decline may continue. At this point, while $ 50,000 levels were being discussed, experienced analyst Ali Martinez analyzed the historical performance of the Relative Strength Index (RSI), which is one of the important arguments on price. Accordingly, Martinez emphasized that Bitcoin’s daily RSI has reached the oversold zone only three times in the last two years. Noting that…

Decentralized Physical Infrastructure Networks (DePin) are transforming the tech sector, evidenced by a 400% increase in market cap to $20 billion over the last year. This growth signifies the rising interest and investment in this field. Amid the parabolic DePin growth, research firm Messari gave an overview of the ecosystem. It included four new sub-sectors to the DePin sector map and discussed the ecosystem’s revenue challenges. Messari Introduces 4 New DePin Sub-Sectors Within DePin, there are two primary categories – the Physical Resources Network (PRN) and the Digital Resources Network (DRN). Presently, DRNs lead the market with a combined capitalization…

In the past 24 hours, ICP’s price surged by 12.32%, making it the talk of the day. Launched in May 2021, this token had lost 99.62% of its value by September 2023. Despite this, it still holds the 24th position on CoinMarketCap. Let’s explore why this token is so special. ICP Helping Real World Support to United Nations Blockchain Program Unlike other cryptos that focus on staking rewards or governance, Internet Computer Protocol (ICP) aims to add real-world value. Just 10 days ago, ICP partnered with the United Nations Development Program (UNDP). Under this association, ICP will help UNDP develop…

Ethereum is one of blockchain’s blockbuster success stories, used by millions, housing thousands of decentralized applications, and managing billions of dollars worth of funds. What’s impressive is that this success has been achieved despite some serious issues with its monolithic architecture, which causes big scalability issues that often leave its network crippled by congested traffic and sky-high fees. The success of Ethereum begs the question – what would happen if we could actually build a blockchain without those scalability issues? How far would the crypto industry go if it wasn’t being held back? It’s a question the industry hopes it…

Japan’s financial landscape is grappling with the question of spot crypto exchange-traded funds (ETFs). The nation’s top financial watchdog is reportedly advocating for a cautious approach, setting Japan apart from other major economies. According to a report by Taiga Uranaka and Nao Sano for Bloomberg, Hideki Ito, who heads Japan’s Financial Services Agency (FSA), expressed concerns about the long-term benefits of crypto assets for Japanese citizens. This stance, as Bloomberg notes, comes at a time when several countries are warming up to crypto ETFs. Bloomberg’s report highlights a global shift in crypto ETF regulations. The news outlet mentions that the…

Shiba Inu team’s official marketing lead Lucie has published a tweet, in which she reminded the community about the approaching cryptocurrency giveaway this week and said that the second largest meme-inspired coin SHIB can easily burn a zero in just a week. Upcoming SHIB giveaway and possibility to burn zero According to Lucie’s earlier tweets, users who publish posts with hashtags #TreatYourSelf and #Shibarium have high chances of winning a chunk of SHIB worth at least $50. The maximum amount promised to the winners is the equivalent of $1,000 in SHIB. A total of $1,000 Shiba Inu will go to…