Author: NBTC

A recent market report by research firm Kaiko noted how Grayscale’s Spot Ethereum ETF could have a negative impact on Ethereum’s (ETH) price. This is based on the firm’s expectations that Grayscale’s Ethereum Trust (ETHE) could follow a similar path to Grayscale’s Bitcoin Trust (GBTC). Ethereum Could Face Significant Selling Pressure From Grayscale’s Outflows Kaiko noted that Ethereum could face significant selling pressure from Grayscale’s ETHE once the Spot Ethereum ETFs begin trading. This is because the fund has been trading at a discount between 6% and 26% over the past three months, with a wave of profit-taking likely to…

Bitcoin’s hashrate has once again dipped below the 600 exahash per second (EH/s) threshold, following a brief increase in computational power on May 26. Since then, the seven-day simple moving average (SMA) shows that the network has decreased by at least 74 EH/s over the past week. Bitcoin Network Hashrate Declines Sharply After Brief Uptick Just a week ago, Bitcoin’s hashrate, according to the seven-day SMA, reached a lifetime peak of 656 EH/s. Today, on June 3, the network’s computational power stands at 582 EH/s after dropping by 62 EH/s. To illustrate, if the average mining machine contributing computational power…

A significant step forward for the blockchain interoperability platform has been achieved by Entangle with the confirmation of Solana’s integration into its Photon messaging protocol. Despite the long history of difficulty in creating interoperability between different ecosystems, Entangle has broken new ground by enabling trustless cross-chain messaging between the Ethereum Virtual Machine (EVM) ecosystem and non-EVM Layer-1 networks such as Solana. In addition to successfully delivering Solana to EVM, the platform’s team announced that they have achieved the fastest instance of cross-chain messaging from EVM to Non-EVM. With the launch of the NGL-Solana bridge, Entangle has made it possible for…

Market fears over US fiscal health may boost Bitcoin, gold demand, suggests Van Eck. Jan van Eck, CEO of the global asset management firm and Bitcoin ETF issuer VanEck, believes investors will turn to Bitcoin and gold as stores of value in response to a potential fiscal crisis in the US in 2025. “I’ve got this theory that the markets are starting to price in a big fiscal problem in the United States in 2025,” said van Eck today. “They look at the two presidential candidates who are the biggest spenders in US history, and they’re going like, I’m not…

VibrantX Finance, a prominent portfolio manager and yield aggregator, has recently announced an exclusive collaboration. The platform has reportedly partnered with Avex Defy, a decentralized finance application that permits consumers to socialize and invest via NFTs and crypto assets. The platform took to its official account on the social media forum X to provide the details of this partnership. 📢 Partnership Announcement 📢VibrantX is thrilled to join hands with @defyapp_ – the new & fast-growing SocialFi app on @Aptos This dynamic partnership will foster mutual growth, and strengthen the connection between the communities of both projects ✨PS: Stay tuned for……

Ethereum community members favor term ‘programmable money’ as its new slogan before the approval of ETF S-1 applications. Santiment analyst expects Ethereum to continue outperforming Bitcoin following sustained whale accumulation. Ethereum bulls seem to be stepping on the brakes as they await more clarity on S-1 applications. Ethereum (ETH) followed a sideways trend on Tuesday as the crypto community seems to favor the term ‘programmable money’ as ETH’s one-liner. Meanwhile, whales have continued accumulating ETH despite profiting from the recent price spike. Daily digest market movers: Programmable money & whale accumulation Ethereum’s recent momentum is slowing down as ETF hype…

Talisman, the multi-chain crypto wallet, announced the launch of Talisman Quests, a gamified experience set to boost user engagement and education within the Polkadot (DOT) ecosystem, according to the information shared with Finbold on June 3. After a successfully wrapped beta phase, Quests invites crypto users to create a profile and progress through various levels by earning experience points (XP) and unlocking rewards. This interactive journey includes a hidden storyline that gradually reveals itself as users progress through the game. A gamified Web3 experience Jonathan Dunne, Co-Founder & Head of Technology at Talisman, made a comment on the often inaccessible…

U.S. Bitcoin spot ETFs have absorbed $12.3 billion of net inflows since launching three months ago. Just how much have they impacted the broader Bitcoin market? Lead Glassnode analyst James Check provided analysis on Wednesday measuring the effect of Bitcoin ETFs next to the asset’s existing futures and spot markets – using on-chain data. Grayscale And Long Term Holders The analyst began by examining the Grayscale Bitcoin Trust (GBTC) – the sole new Bitcoin ETF that’s suffered massive and consistent outflows since January 11. The fund has lost roughly 300,000 BTC since that time, close to half of its total…

On Friday, the Uniswap Foundation announced it was delaying a key vote on whether to upgrade the protocol’s governance structure and fee mechanism to better reward holders of the UNI governance token. The nonprofit cited concerns from a “stakeholder,” thought to have been an equity investor in the organization behind the largest Ethereum-based decentralized exchange. Note: The views expressed in this column are those of the author and do not necessarily reflect those of CoinDesk, Inc. or its owners and affiliates.This is an excerpt from The Node newsletter, a daily roundup of the most pivotal crypto news on CoinDesk and…

Ethereum has experienced a significant increase since the U.S. Securities and Exchange Commission (SEC) approved a group of spot ether exchange-traded funds (ETFs). This week, ether reached a high of $3,980 per coin, which is approximately 18.4% below its all-time high. Amid fluctuating prices, ethereum futures markets have achieved a record high in open interest. Ether Futures Markets Reach Record Levels In the midst of the dynamic activity on ethereum spot markets, ether derivatives have also seen substantial demand. Ether futures open interest has reached unprecedented levels. Concurrently, the aggregated open interest (OI) in ethereum (ETH) options has been hovering…