Author: NBTC

GMX decentralized exchange has listed two revenue-generating assets on the Arbitrum network. The two – Lido’s wrapped staked Ether (wstETH) and Ethena Labs’ synthetic dollar (USDe)- will support an ETH/USD perpetual futures marketplace on GMX version 2. GMX announces a new market on @Arbitrum:🔹 ETH/USD [wstETH/USDe]Trade #Ethereum perpetual futures, supported by a liquidity pool with wrapped staked ETH (wstETH) from @LidoFinance and the USDe synthetic dollar from @Ethena_labs!1/3 🧵 pic.twitter.com/pmmXsSrNTl — GMX 🫐 (@GMX_IO) July 31, 2024 The new listing reflects GMX’s dedication to providing top-notch earning opportunities without compromising liquidity. The wstETH asset is a liquid, wrapped version of…

On 31 July 2024, CCData Research unveiled the July 2024 edition of its “Stablecoins & CBDCs” report, providing a comprehensive overview of recent trends and market dynamics within the stablecoins and central bank digital currencies (CBDCs) sectors. CCData, authorized by the Financial Conduct Authority (FCA) as a benchmark administrator, is a prominent provider of institutional-grade digital asset data. By leveraging tick data from globally recognized exchanges and integrating multiple datasets, CCData delivers a comprehensive market overview, including trade, derivatives, order books, as well as historical, social, and blockchain data. Stablecoins Market Capitalisation Hits $164 Billion In July, the total market…

Pump.fun is the most accessible tool for token creation, with a known risk due to its low liquidity. For tokens that go viral, Pump.fun now has a new type of rug pull attack. Pump.fun is one of the fastest ways to generate and distribute Solana-based meme tokens. The protocol advertises itself as a coin launcher tool, making new assets instantly tradeable with no initial liquidity. The fees for generating a new token are as low as $2, making Pump.fun a highly active protocol. The recent interest in meme assets drove Pump.fun fees as high as $268M annually. On certain days,…

The Monetary Authority of Singapore (MAS) granted a Major Payment Institution (MPI) license to HashKey OTC. Hashkey OTC is the over-the-counter trading division of HashKey Group. This license allows HashKey OTC to offer payment services without limitations, such as digital payment tokens and cross-border transfers. The MPI license is in-principle approval given on February 28, 2024. HashKey OTC Secures Key Singapore Payment License The MPI license is a crucial achievement for HashKey OTC. It means that the firm can conduct business without being limited by the number of transactions it conducts, enabling a broader range of services and higher market…

Foundry USA and Antpool now have more than 60% Bitcoin hash rate, which increases the problem of centralization in the Bitcoin network. Centralization of mining power introduces the threat of a 51% attack where a single party gains control over the blockchain. As mining increasingly consumes resources, small miners cannot afford to mine Bitcoins due to increased costs and hence consolidation of companies. The Bitcoin network is experiencing a flow of the mining market where only two mining pools control the hashrate of the network. This development has provoked concerns about possible centralization, a situation that may resist the decentralized…

If you haven’t been around too long, it’s hard to fully appreciate how quickly narratives can shift in this industry, especially when playing catch-up. Fads grow old, memes become tired. It’s fair to say that this year’s seasonal craze is currently feeling the pressure of Bitcoin’s fading momentum. While it could be easy to write it off as a temporary setback caused by the usual bull market correction, strong underlying currents are working against popular scaling narratives. As this tide is going out, it’s become a little hard to ignore those out there swimming naked. Is the airdrop meta over?…

As expected, the FED left interest rates constant. Here is Bitcoin’s first reaction after the interest rate decision: There are analysts who think that Jerome Powell may signal a rate cut in September at the press conference he will hold in half an hour. The expected move could lead to lower borrowing costs for U.S. consumers and businesses and mark a key moment in the Fed’s two-year fight against inflation. Latest data shows inflation is steadily approaching the Fed’s 2% target and there has been a notable cooling in the labor market, with the unemployment rate rising by nearly half…

NEAR Protocol’s new governance proposal led to a 10% rise in token value, enhancing ecosystem decentralization and governance. The proposal introduces a stake-weighted voting system, giving more control to NEAR token holders based on their stake. The governance changes include a new funding model and the creation of a Screening Committee to manage delegate selection and prescreen grant proposals. NEAR Protocol has unveiled a key governance concept created in partnership with Gauntlet and the NEAR Foundation. The news resulted in a 10% boost in the value of the NEAR token, as the proposal seeks to improve the decentralization of the…

The Ohio Department of Commerce has ordered crypto exchange Coinzoom to cease operations in the state effective Aug. 1 following a regulatory examination. Current customers can still withdraw their assets, but the exchange cannot accept new business. The suspension follows a multi-state examination revealing financial discrepancies. Coinzoom is seeking an administrative hearing to address the order. Ohio Takes Action Against Coinzoom Crypto Exchange The Ohio Department of Commerce Division of Financial Institutions (DFI) announced on Thursday that it has ordered Coinzoom Inc., a cryptocurrency exchange, to immediately cease operations in the state. Coinzoom, licensed as a money transmitter in Ohio,…

Bitcoin (BTC) is nearing breaking the downtrend pressing its price down over June, according to the trader identified as Rekt Capital. Moreover, in a video published today, he shared that the current price level might be the last buying bargain before a parabolic upward movement. Usually, the retraces reach 22% on average, indicating a local bottom. In an X post, Rekt Capital pointed out that the current pullback is “very, very close” to the 22% average. Notably, this means that a bottom is practically formed, and it is a position from where Bitcoin could rise. Rekt Capital then adds that…