Author: NBTC

Despite a modest uptick in Bitcoin prices this September, BlackRock’s iShares Bitcoin Trust (IBIT) has experienced sluggish inflows. It netted just $6.76 million for the month. While IBIT has been stagnant, other funds faced outflows. Bitcoin ETFs Recorded $155 Million in Outflows BlackRock’s Bitcoin ETF – IBIT saw varied trading volumes. It recorded an inflow of $15.82 million on September 16. However, this gain was offset by an outflow of $9.06 million a week earlier, culminating in a modest net inflow. On ten trading days this month, IBIT recorded zero netflow. Interestingly, this occurred during a month when Bitcoin’s value…

The non-fungible token, or NFT, market has witnessed a 4.16% plunge in sales volume over the last seven days. Here’s a breakdown of the latest data from Cryptoslam: NFT sales volume dropped in the last seven days and stands at $77.6 million — lower than weekly NFT sales in the previous week. NFT buyers dropped by a considerable 66.81% to 263,804 from last week’s 794,763 NFT sellers fell to 121,399, depicting a 67.87% drop. NFT transactions were down by over 13.78% in the last seven days to 1,662,101. Read more: Mt. Gox clients won’t get paid again in 2024: How…

X Empire is making waves as it announces the end of its mining phase, with the news displayed at NYC Times Square, one of the world’s most iconic locations. As rain falls over New York City, it feels as though the city itself is shedding tears for this significant milestone. The mining phase officially concludes today, September 30, at 18:00 UTC, marking an important moment for the project and its community. As per the X post, the massive LED screens in Times Square were seen showcasing this announcement, drawing attention from locals and tourists. The vibrant display not only highlights…

The Thai Securities and Exchange Commission (SEC) has proposed new regulations that would allow mutual and private funds to invest in digital assets in an effort to align with international developments and address growing interest from institutional investors. A draft proposal, published on Wednesday, is seeking public feedback on revisions to the criteria for funds investing in digital assets. The SEC is proposing to allow securities companies and asset management firms to offer services to large investors interested in diversifying into crypto-related products, such as exchange-traded funds. The regulator aims to align with international developments in digital assets and create…

Arbitrum broke above 1B transactions in the chain’s lifetime. Close to a fifth of that activity is directed to DeFi tasks. Arbitrum broke above 1B transactions, of which 17.71% went to DeFi activities, based on GrowThePie data. Arbitrum is among the most active L2 chains and has a relatively early arrival. The project started off as a VC-backed network but ended up drawing the bulk of L2 traffic. The Arbitrum One L2 rollup is also considered sufficiently decentralized and has been singled out by Ethereum’s founder Vitalik Buterin. According to metrics of decentralization, Arbitrum One is a Stage 1 chain,…

After weeks of caution, Bitcoin (BTC) traders are shaking off their fears and increasing their trading activity. This renewed momentum comes in response to the Federal Reserve’s decision to cut interest rates by 50 basis points (0.50%), reigniting market confidence. Bitcoin is now trading above $61,000 for the first time in nearly a month, signaling a potential rally on the horizon. Bitcoin Sees Resurgence in Trading Activity The Federal Reserve’s 50 basis point rate cut is expected to drive more investment into riskier assets, such as Bitcoin. This trend has already begun, marked by a positive shift in sentiment toward…

Tether’s USDT balance hit $20.3 billion on exchanges, highlighting investor confidence in market stability. Ethereum’s smart contracts and DApps drive blockchain technology beyond digital currency, enabling decentralized applications. Binance leads the crypto exchange market with its vast ecosystem and native token, BNB. Tether’s USDT continues to dominate the cryptocurrency market as its balance hits an impressive $20.3 billion, reflecting growing trust in stablecoins. Meanwhile, Ethereum, Binance’s BNB, and Sui lead the charge in blockchain innovation, with Dogecoin evolving from a meme to a powerful digital currency. Tether’s USDT Balance Hits $20.3 Billion Amid Market Trends Current price:$0.9999 Market cap:$119.245 Tether’s…

Famous legal expert James Murphy (a.k.a. MetaLawMan) suggests that Ripple file a cross-appeal regarding its XRP sales to institutions in the SEC case. Recall that Judge Analisa Torres declared that Ripple’s institutional sales of XRP were investment contracts. Consequently, the judge imposed a penalty of $125 million against the company following its violation of federal securities law through its institutional sales. Ripple Should Cross-Appeal SEC Ruling With the SEC appealing the Ripple ruling to overturn some parts of Judge Torres’ verdict, like programmatic sales, Attorney Murphy suggests that the payments company needs to also file a cross-appeal to challenge the…

Over the past few years, the Bitcoin market has rarely experienced a decline. However, current global political uncertainty and ETF performance have greatly reduced the demand for digital assets. The #Bitcoin market is currently experiencing a period of stagnation, with both demand and supply sides showing signs of inactivity. The market is characterized by minimal capital inflows and outflows, as the stagnant Realized Cap indicates.Discover more in the latest Week… pic.twitter.com/R2tw9LQd29 — glassnode (@glassnode) September 18, 2024 As a result, the magnitude of both capital outflows and inflows has decreased, leading to a noticeable decrease in market activity. The amount…

A recent study part of the European Central Bank (ECB) working paper series has concluded that stablecoins are susceptible to shocks derived from U.S. monetary policy changes. Contractionary shocks make stablecoins react negatively, being even more relevant than traditional crypto shocks to stablecoins, while money market funds (MMFs) thrive. ECB Paper: Stablecoins Are Susceptible to U.S. Monetary Policy Shocks The role of stablecoins as a refuge from shocks involving the crypto and the traditional market is being questioned by a paper published by the European Central Bank (ECB). The “Stablecoins, Money Market Funds, and Monetary Policy” paper examines the movements…