Author: NBTC

Sonic Labs (formerly Fantom) cofounder Andre Cronje believes that developers should avoid using layer 2 (L2) app chains. Appchains are customized L2 blockchains designed to meet an application’s specific needs. In an X post, Cronje listed several disadvantages hindering the growth of appchains. These drawbacks include the high cost of infrastructure, fragmented liquidity, and lack of support for developers. Cronje noted that appchains lack infrastructure for deploying stablecoins, oracles, and institutional custody. More importantly, Cronje said that the cost of infrastructure is grossly underestimated. According to him, the costs of custody, exchanges, oracles, bridges, etc. are pretty high. Cronje’s team…

An expert predicts that Bitcoin’s future rise to $315K will make current price fluctuations irrelevant, urging investors to hold at least one BTC. The state of the crypto market has been underwhelming over the last six months, characterized by repeated downturns. Most crypto assets have struggled to sustain an uptrend. Since setting an all-time high in March, Bitcoin has dropped to $49K. Even though Bitcoin trades at around $60K, those who bought at the March peak are experiencing 20% losses. Despite these months of lackluster price action, there have been consistent calls suggesting various bullish price targets for Bitcoin. Market…

Nvidia (NASDAQ: NVDA) board member and the company’s second-largest shareholder, Mark Stevens, is increasing the rate at which he is offloading his stake in the semiconductor giant. The latest trade involving Stevens saw him unload an additional $20.5 million worth of Nvidia stock, adding to his recent selling spree. The trade details indicated that Stevens sold 165,100 shares at an average price of $121.27 per share on September 24, 2024. This brings his total sales to over $60 million within the last two weeks alone. Over the past three weeks, Stevens has made four significant sales, ranging between $4 million…

Prominent XRP community figure WrathofKahneman addresses speculations surrounding Ripple’s upcoming stablecoin RLUSD. In a tweet yesterday, WrathofKahneman suggested that several hype accounts on X have been spreading premature information regarding the pace at which Ripple has been minting its RLUSD stablecoin. According to him, these hype accounts claim that Ripple had minted 80% of the RLUSD supply in just 24 hours. Over 1.7M RLUSD Tokens Minted in Five Days This speculation comes after Ripple Stablecoin Tracker reported huge volumes of minted RLUSD. As of 12:28 a.m. (UTC) on September 24, RLUSD’s maximum total supply surged to 563 tokens following the…

Banq, which filed for bankruptcy last year, had its application dismissed by a U.S. judge who found the application was made to shield the company and its executives from ongoing litigation by a creditor. Banq and its chair Jon Jiles is being sued by creditor N9 over allegations Jiles failed to uphold his fiduciary duties. Crypto neobank Banq, which filed for Chapter 11 in a U.S. bankruptcy court in the district of Nevada, has had its application rejected. The bank’s bankruptcy application was called a “bad faith” tactic to “gain an advantage in pending litigation” and not to reorganize by…

Omni Network (OMNI) is making waves in the Ethereum ecosystem with its innovative rollup layer designed to streamline the creation of decentralized applications (dApps). The network aims to unify Ethereum’s disparate scaling solutions, significantly enhancing scalability and integration for developers. Contents hide 1 What Does Omni Network Offer Developers? 2 What Makes OMNI Unique? What Does Omni Network Offer Developers? The Omni Network provides a cohesive platform for developers to build applications across various Ethereum rollups, effectively acting as a single state machine. This structure allows for seamless programming and integration, facilitating access to Ethereum’s total liquidity and user base.…

Ethena Labs has proposed to the USDe community that SOL be added to its mix of collateral. USDe is unique insofar that it maintains $1 peg with collateral, hedged trades, and risk-managed reserves. Ethena Labs, the entity responsible for developing and maintaining USDe, has proposed bringing onboard (SOL) as part of the synthetic stablecoin’s mix of collateral that forms its treasury. USDe differs from stablecoins such as Tether’s (USDT) or Circle’s (USDC) because it’s a synthetic stablecoin and not backed by fiat assets at a 1:1 ratio. The stablecoin maintains its $1 peg by collateralizing stablecoins and leveraging a hedged…

This week is packed with major economic events that will undoubtedly influence global markets. Oil, retail, housing, and manufacturing data are all on deck, with many companies reporting earnings and 11 Federal Reserve officials giving speeches. It’s a busy week for those tracking the pulse of the economy. Here’s a breakdown of what’s coming and why it matters, with an eye on the numbers and market implications. OPEC monthly report and Fed speaker event Kicking off the week is OPEC’s monthly report. Oil markets are always watching closely, and this one’s no different. Last month, OPEC noted a small increase…

The recent surge in the Web3 sector has brought about a significant shift with several well-known projects seeing huge weekly trading volumes. Phoenix, a prominent crypto analytics firm, has shared the list of top Web3 tokens that recorded substantial trading volumes weekly, with Chainlink ($LINK), Polkadot ($DOT), and Ethereum Name Service ($ENS) leading them. The analytics provider revealed this list on its official X account. TOP #WEB3 TOKENS BY WEEKLY TRADING VOLUME$LINK $DOT $ENS $AR $SAGA $FIL $MNT $APE $LPT $GRT $GMT $ALT $THETA $STORJ $PIXEL pic.twitter.com/cOj7PbuKFx — PHOENIX – Crypto News & Analytics (@pnxgrp) September 29, 2024 $LINK Leads…

Seoul National University (SNU) in South Korea has made a significant decision to halt cryptocurrency donations until the stability of digital assets is assured and appropriate regulatory frameworks are in place. This move, reported by Hankook Ilbo, comes in the wake of a controversy involving Wemade, a prominent game company that pledged KRW 1 billion (approximately $737,000) in WEMIX tokens to a startup fund. The subsequent liquidation of these tokens to cover operational expenses without prior disclosure led to a substantial drop in their value, prompting SNU to reconsider its stance on accepting crypto donations. This decision underscores the growing…