Author: NBTC

In a recent analysis published by the DeFi Report, Ethereum’s network fees generated $261 million in Q3-2024, down 47% compared to the last quarter. Ethereum’s layer 1 fees in Q3 were the lowest the network has seen since Q4 of 2020. In “The ETH Report: Q3-24” published on Oct. 16, Ethereum(ETH)’s layer 1 in Q3 of 2024 were shown to be the lowest since 2020. The DeFi Report believes that this is due to the emerging growth of layer 2 networks, the introduction of EIP 4844, and the decrease of new crypto users in Q3. Not only that, the report…

Polymarket bets are strongly leaning towards a rate cut of 25 basis points in November. A status quo or larger cuts seem less likely after the Fed’s aggressive start to loosening its policy. CME FedWatch also indicates changing market expectations after the first monetary policy adjustment this year. As the odds shift, Deloitte’s US economy forecast believes that US growth will be stable in 2024. There is a likelihood of a 0.25% rate cut Polymarket bets overwhelmingly predict that the Federal Reserve will cut rates by 25 basis points in November. CME FedWatch tracks that probability at 88% against Polymarket…

Cardano has just turned seven years old, and its developer, Input Output Global (IOG), took to X (formerly Twitter) to celebrate the milestone. In a celebratory tweet, IOG wrote: “Happy birthday, Cardano. 7 years. Millions of transactions. Over a thousand projects. One unstoppable community.” The tweet was accompanied by a short clip highlighting the remarkable achievements and milestones that have marked Cardano’s evolution. Happy birthday, Cardano.🎉7 years. Millions of transactions. Over a thousand projects. One unstoppable community.🌍🫶 pic.twitter.com/xsMsOvjCnu — Input Output (@InputOutputHK) September 27, 2024 Cardano, a proof-of-stake blockchain platform and the first to be founded on peer-reviewed research and…

Tether’s favorite market maker Cumberland Global has been targeted by America’s securities regulator, potentially bringing the world’s leading stablecoin issuer closer to a regulatory reckoning. On October 10, the U.S. Securities and Exchange Commission (SEC) announced the filing of a civil complaint against Cumberland DRW LLC in the U.S. District Court in the Northern District of Illinois. The SEC accuses Cumberland, an offshoot of the Chicago-based DRW Trading Group, of “operating as an unregistered dealer in more than $2 billion of crypto assets offered and sold as securities” since March 2018. The complaint accuses Cumberland of earning “millions of dollars…

Cryptocurrency exchanges play a vital role in the blockchain industry, acting as gatekeepers to the world of digital assets. While there are other ways to acquire crypto, such as peer-to-peer protocols and trading with friends, the vast majority of newcomers will begin their journey on a crypto exchange, where they can sign up quickly and start exchanging their fiat for Bitcoin, Ethereum, and other tokens. Despite their importance for the crypto industry, the fact is that exchanges as they are today are far from adequate. The reliance on these centralized custodians is contrary to the ethos of crypto in general,…

Former President Donald Trump faces a second assassination attempt on September 15. The Republican presidential candidate was playing golf at his West Palm Beach course when this incident took place. The suspect has been arrested and Trump is unharmed. However, this attempt has sent shockwaves to the crypto market causing BTC to plummet. Shots Were Fired The incident happened around 1 PM EST. Secret Service agents spotted a man armed with an AK-47 style rifle. He was hiding in the bushes near the property. The agents opened fire that forced the suspect to flee in his Black SUV. Authorities found…

Ethereum, the second-biggest cryptocurrency, has lagged behind Bitcoin this year amid slow growth of its exchange-traded funds and competition from other layer-1 and layer-2 blockchains. Ethereum (ETH) has rallied by less than 20% in 2024, while Bitcoin (BTC) has risen by over 50%. Technicals point to more Ether weakness in the coming months. On the weekly chart, the coin formed a double-top chart pattern around $4,000. It dropped below the neckline of this pattern at $2,824 in July, confirming the bearish breakout. Ethereum has also formed a death cross pattern as the 200-day and 50-day Hull Moving Averages made a…

In the second quarter of 2024, the number of Management Companies and Undertakings of Collective Investments (UCIs) in Cyprus remained at 328. At the same time, assets under management (AUM) increased to €9.4 billion, according to the quarterly statistics bulletin released by the Cyprus Securities and Exchange Commission (CySEC). CySEC oversees 328 Management Companies and UCIs, a decrease from 334 in the same quarter of the previous year, indicating a decline of 1.8 percent. The current total includes 236 Externally Managed UCIs, 33 Internally Managed UCIs, and 69 External Fund Managers. The overall count features 44 Alternative Investment Fund Managers…

Solana-based meme coins led the charge as the crypto fear and greed index approached the greed zone of 60. LandWolf (WOLF) and Moo Deng (MOODENG) were the best-performing tokens as they rose by over 112% and 56% on Sep. 27. WOLF has surged by over 390% from its lowest point this month, bringing its market cap to over $38 million. Moo Deng has performed even better, skyrocketing by over 1,800% from the September low, pushing its valuation to nearly $200 million. Other popular Solana (SOL) meme coins have also seen double-digit gains in the past few days. Notably, Popcat (POPCAT)…

South Korea is forming a 15-member public-private committee to address issues in the virtual asset market and explore cryptocurrency legislation. The committee will include government officials and representatives from the legal profession, academia, and the virtual asset industry. One of its key roles will be to evaluate South Korea’s plans for spot cryptocurrency ETFs and corporate virtual asset accounts. South Korea Committee to Review Spot Crypto ETF Plans On Oct. 13, South Korean officials reportedly revealed plans to launch a public-private committee on virtual assets later this month. The 15-member committee will address structural problems in the virtual asset market…