Author: NBTC
Bybit, one of the top three crypto exchanges by trading volume, has reported a significant surge in EUR trading volume following the launch of its EUR Zero Fees Fiesta campaign in April this year, according to the information shared with Finbold on May 30. The campaign highlights Bybit’s dedication to expanding the European market and offering a competitive and cost-effective platform for European traders. Bybit climbs to #2 in the Netherlands Since the launch of the EUR Zero Fees Fiesta campaign, Bybit has seen a 13% average daily increase in trading volume for EUR pairs. This surge solidified Bybit’s status…
AUSTIN, TEXAS – Web3 infrastructure and digital credential network Galxe (GAL) said Wednesday that it is crafting its own layer-1 smart contract platform called Gravity and will migrate all its products to the new blockchain. The first version of the network, built on the Arbitrum Nitro tech stack, will start in June to test cross-chain settlements in a publicly transparent manner. The full-fledged Gravity Mainnet with native staking and restaking aims to go live in the second quarter of 2025. The reason for creating Gravity, said the Galaxe team, is that the platform’s user base has significantly grown over the…
BCA Research, a leading independent provider of global investment research, predicted in a recent report that Bitcoin could eventually rise above $100,000. The company attributes this potential rise to Bitcoin’s ‘non-confiscability’ feature, which makes it liken to gold. According to Dhaval Joshi, Chief Strategist at BCA Research, Bitcoin and gold are conceptually linked because their shared value stems from their non-confiscability feature. This value is immune to inflation, bank failure, and even state expropriation in the case of Bitcoin. Joshi argues that Bitcoin’s controlled supply protects it from being confiscated by inflation. Additionally, the bankruptcy of banks or other financial…
The crypto market awaits a significant event today—the liquidation of $1.33 billion in Ethereum (ETH) options. This massive contract expiration is interesting, particularly due to the approval of spot Ethereum exchange-traded funds (ETFs) in the United States. At the same time, approximately $1.42 million in Bitcoin (BTC) options contracts will also expire. Can the expiration cause greater volatility in the market, and will it affect the price of the two leading cryptocurrencies? First ETH Options Liquidation After the Spot Ethereum ETF Approval The notional value of the 352,861 expiring Ethereum contracts is $1.33 billion. Data from Deribit indicates that Ethereum’s…
Algorand becomes the first layer 1 blockchain to accept Python as a canonical language, which Algorand Foundation CTO John WOODS calls a “seismic change.” According to him, Python is a huge step forward towards eliminating all barriers for developers Mariano DOMINGUEZ, software developer at Vestige.fi, a decentralized application based on Algorand, said there are several reasons for this. First, most chains that have a smart contract execution layer operate in a resource-constrained scenario, which is not typical in modern development environments. Because of this, it is often easier and cheaper to create a domain-specific language (such as Solidity, PyTEAL/TEAL or…
The U.S. Securities and Exchange Commission (SEC) recently approved several spot Ether exchange-traded funds (ETFs), signaling a significant regulatory milestone. This decision comes after months of speculation and amid ongoing discussions regarding Ethereum’s regulatory status as a security. Notably, this is the SEC’s second significant cryptocurrency-related approval this year. Details of the Approval The SEC’s May 23 approval has endorsed 19b-4 filings from prominent financial institutions such as VanEck, BlackRock, Fidelity, Grayscale, Franklin Templeton, ARK 21Shares, Invesco Galaxy, and Bitwise. These approvals allow for the listing and trading of spot Ether ETFs on their respective exchanges. However, the ETF issuers…
May 30th, Panama – Gate.io, a leading crypto exchange and Web3 innovator, has published its May 2024 Proof of Reserves (PoR) report, transparently demonstrating a reserve-deposit ratio of 115.34% and a total reserve value of $6.49 billion (USD) at the time of completion. This latest report covers over 209 digital assets, an increase of 20 since the previous report, and maintains its position as the most extensive of any exchange. Other key data from the report include: Gate.io Total Reserves: $6,492,214,095 Excess Reserves: $863,807,685 Reserve-Deposit Ratio: 115.34% BTC: 116.55% ETH: 113.43% USDT: 105.47% USDC: 102.65% Gate.io was one of the…
Chainlink has announced that Wisdomise, an AI-enhanced asset management platform, has integrated Chainlink’s Cross-Chain Interoperability Protocol (CCIP) across the Arbitrum and Polygon networks. It is intended to enable secure cross-chain token transfers for its $WSDM token. This integration aims to enhance the platform’s functionality and provide users with seamless cross-chain interactions. Chainlink BUILD project @wisdomise has integrated #Chainlink CCIP across @arbitrum and @0xPolygon to enable cross-chain token transfers for WSDM.Why the AI-enhanced asset management platform selected the cross-chain standard👇https://t.co/Qh5iJsf15h — Chainlink (@chainlink) May 29, 2024 Wisdomise Integrates Chainlink CCIP for Enhanced $WSDM Cross-Chain Security In a recent blog post, Wisdomise…
The Bitcoin halving, which is awaited with great excitement among cryptocurrency followers, will be unlike any before, according to some analysts. According to Antoni Trenchev, co-founder of crypto exchange Nexo, this year’s halving is expected to bring about an explosive mix of decreasing supply and increasing demand from ETFs. “What makes this halving unique is that Bitcoin has already surpassed the high of the last cycle, something that has never been seen before the quadrennial event, which makes trying to predict the length and severity of this cycle much more difficult,” Trenchev said. said. Following halvings in 2012, 2016, and…
Though it can hardly be said that Ethereum (ETH) has underperformed in the 2024 cryptocurrency bull market, ETH has – unlike many other coins and tokens, including Bitcoin (BTC) – failed to reclaim its all-time highs (ATH). Indeed, with Ethereum price today standing at $3,660.17 after a 65.58% year-to-date (YTD) rise, the cryptocurrency has seemingly found a strong resistance zone near $3,800 and has, despite multiple attempts in recent months, proven unable to maintain a valuation above it. Things may soon change, however, given that ETH is set to get an entirely new contingent of institutional and retail investors with…