Author: NBTC
WazirX has selected 10 creditors to form a Committee of Creditors (CoC), but the process has raised some transparency concerns among investors on X. The identities of the members remain anonymous, as stated by the company earlier. Despite the company commencing its restructuring process, India is struggling to compete with its Asian peers in crypto growth. WazirX has formed an ‘anonymous’ 10-member CoC Indian crypto exchange WazirX has included 10 creditors in its Committee of Creditors (COC). The identity of the 10 CoC members has not been revealed, leading to some investors questioning the transparency of the process. According to…
Cleanspark, a publicly traded bitcoin mining company, announced this week that it has reached an operational hashrate of 30 exahash per second (EH/s). The company expects to surpass 37 EH/s by the end of 2024 and aims for further growth to 50 EH/s in 2025. Cleanspark Now Operates 30 EH/s of Computational Power According to the announcement, Cleanspark‘s (Nasdaq: CLSK) hashrate has surged by 200% since October 2023, driven by organic growth and acquisitions. The company’s recent fleet upgrade improved efficiency by nearly 20%, boosting the number of operational machines by 112%. This strategy, the company noted, has allowed it…
The price of Ethereum (ETH) has remained below the moving average lines and above the crucial support level of $2,300 since the price drop on October 3. Long-term analysis of the Ethereum price: bearish On October 7, Ether was rejected as buyers tried to hold the price above the moving average lines. Doji candlesticks are forming below the moving average lines. The conclusion is that the price will remain stationary while the sideways movement continues. The largest altcoin is worth $2,458 and is just above key support. If Ether loses its critical support at $2,300, it will fall to the…
USDT, the largest stablecoin in the crypto market, has marginally lost its peg to the U.S. dollar, trading at less than $1 since September 30. Analysts believe this is a byproduct of large outflows from China as crypto investors turn to the national stock market to participate in the bull run following the announcement of stimulus measures. USDT Trades at Less Than $1: China Might Be the Culprit USDT, the leading dollar-pegged stablecoin with a market capitalization of nearly $120 billion, may be facing challenges as the crypto economy in China turns away from the crypto market. The stablecoin has…
Jupiter DEX will announce the fate of more than 200M JUP tokens later today, based on the result of a community vote. Jupiter, the Solana DEX aggregator, is almost at the end of its community vote on the distribution of excess tokens from Jupuary. The community decision has attracted 299,671,743 votes, five times more than the minimum of 60K votes. Jupiter is one of the Solana-based projects with the strongest emphasis on community decisions, as the platform also distributes 50% of its earnings to the community. The spare JUP tokens come from unclaimed airdrop rewards during the Jupuary campaign in…
Ripple CEO Brad Garlinghouse has recently spoken out about the company’s decision to file a cross-appeal against the SEC. It should be recalled that earlier in October, the SEC appealed the decision ordering Ripple to pay a $125 million civil penalty on its XRP sales, a fraction of the $2 billion sought by the regulator. In a countermove, Ripple announced yesterday it had filed a cross-appeal of Judge Torres’s final judgment, which was entered on Aug. 7, 2024. Ripple CEO Brad Garlinghouse speaks about Ripple’s cross-appeal move in a recent tweet. Reiterating what he said earlier in October, the Ripple…
Uniswap daily active users are the highest than other DEX exchanges. Token Terminal data show UNI has collected $399 million in fees in the past three months. UNI’s 180-day trading volume is the highest in the DEX sector. Uniswap (UNI) price trades above $7.8 and gains over 6% at the time of writing on Thursday, reflecting optimism as on-chain metrics indicate strong performance. Token Terminal data shows UNI has outpaced other decentralized exchanges (DEX) platforms in daily active users, fee collection, and trading volume over the past three months. Furthermore, the Santiment’s Supply on Exchanges metric has constantly declined since…
Ethereum creator Vitalik Buterin may be up for the Nobel Prize in Economics thanks to his contributions to cryptocurrency, two notable economists argued on a recent podcast. This comes ahead of the award announcement on Monday, October 14. Tyler Cowen and Alex Tabarro, two economics professors, spoke on the podcast for their joint economic blog Marginal Revolution as they questioned who may win the upcoming Nobel Prize in Economics. After throwing a few names around, they eventually pondered if the Ethereum co-founder could win. “I have an unusual pick, I suspect you’ll agree with me. I would give it to…
FTX customer Nikolas Gierczyk accuses Olympus Peak of underpaying him after buying his FTX bankruptcy claim worth $1.59 million, alleging the hedge fund owes him much more in additional recovery. According to a Bloomberg report on Oct. 11, Californian Nikolas Gierczyk is suing hedge fund Olympus Peak for not honoring his right to additional recovery. He claims that the hedge fund owes him much more than $1 million from their deal, as creditors stand to gain around 129% to 146% from the FTX bankruptcy payout plan. Gierczyk stated that he and Olympus Peak settled on a purchase agreement when the…
Bulls have returned to the Bonk (BONK) market today as the meme coin has triggered a strong upward rally. From its price to key metrics, BONK is witnessing a massive increase in multiple things, and the community is rejoicing in it. Moreover, it is likely that this bullish sentiment is going to prevail and a more sustained price rally will be established. As per CoinGlass data, the trading volume of BONK has surged 36.8% in the last 24 hours. It is currently standing at the $778.9 million range. This is a crucial development as it means that trading activity has…