Author: NBTC
The United Arab Emirates (UAE) saw a 74% jump in the total value of DeFi transactions compared to last year, according to Chainalysis. Token value sent through DEX surged by 87%, rising from $6 billion to $11.3 billion. This shows its strength as a growing leader in the global crypto and blockchain space. In their October 9th podcast, Chainalysis CMO Ian Andrews talked about the impressive rise of DeFi services in the UAE. The region has higher DeFi adoption than the global average, with 32.4% of crypto transactions happening through DEXs. Why Young Investors In UAE Are Driving a DeFi…
XRP, the seventh-biggest cryptocurrency by market capitalization, has so far failed to experience a price rally despite the recent ETF buzz. The token is down more than 4% over the past 24 hours, failing to buck the broader bullish trend. As reported by U.Today, Bitwise, the leading cryptocurrency index fund manager, recently filed for an XRP ETF in Delaware. After some industry participants raised concerns about the authenticity of the filing, Bitwise confirmed that it was not a fake forgery. Ripple CEO Brad Garlinghouse has confidently stated that the approval of an XRP ETF was “inevitable” in the US. While…
Analyst and trader Kevin Svenson is leaning bullish on Bitcoin (BTC) amid a recovery that has seen the flagship crypto asset appreciate by around 10% over the last two weeks. In a new strategy session, Svenson tells his 79,300 YouTube subscribers that “things could get really really bullish” for Bitcoin as the Federal Reserve’s rate-cutting phase begins. According to Svenson, Bitcoin could hit a new record high over the coming weeks and months. “I think Bitcoin’s still set for new all-time highs in the coming Q4. I think it’s likely that in Q4 we hit new all-time highs. There may…
Mysterious SHIB lead known to the crypto community as Shytoshi Kusama has gained SHIB army’s attention by posting a tweet about the approaching ShibaCon – an important blockchain conference hosted by the Shiba Inu team. ShibaCon event looms on horizon ShibaCon is to take place in Bangkok, Thailand and will last for slightly more than a week – from November 5 to November 15. It will take place at roughly the same time as the annual DevCon event in Bangkok – between November 7 and November 17. 🎟!!! #Shibacon https://t.co/uUfuYMsL9M — Shytoshi Kusama™ (@ShytoshiKusama) October 1, 2024 Numerous leaders of…
Bitcoin hits 25-day high, surging 10.3% amid bullish momentum. Fed rate cut and BlackRock’s report drive market optimism. Bitcoin, the world’s leading cryptocurrency, hit a 25-day high of $64,133, hours ago. It gained 10.3% over the past week as bulls made a comeback. Despite an early-month bearish trend, Bitcoin is now trading at $63,821.27, up 3% in the last 24 hours, though trading volume has decreased by 11%, signaling caution among investors. The surge in Bitcoin’s price aligns with a broader increase in risk-driven assets following the Federal Reserve’s 50 basis point interest rate cut, marking the Fed’s first easing…
After unlocking another 1 billion XRP from the initial distribution escrows on October 1, Ripple prepares for another monthly sell-off. For this month, traders and investors can initially expect a 200 million XRP sale with a potential negative price impact. As usual, the company sent 20% of the unlocked amount to the ‘Ripple (1)‘ address, its liquid treasury account. Ripple has been displaying a similar pattern every month since the implementation and first unlock of XRP Ledger’s escrows. Last month, however, the company sold the usual 200 million tokens, with an additional 150 million XRP. The extra sale made in…
Tap-to-earn took over the crypto gaming landscape this summer, as Telegram based mini apps attracted over 300 million players at a time. But a Solana-based project has launched a tap-to-earn game called SonicX that launches natively inside of TikTok, in the pursuit of becoming the Notcoin of the Gen Z-favored social media platform. Sonic SVM, a layer-2 gaming chain built on top of Solana, plans to partner with content creators and run a series of ads on TikTok that players will be able to click to open the SonicX game natively inside TikTok. Much like mini apps on Telegram, TikTok…
According to a report by Kaiko Research, Bitcoin’s market dominance has increased to 54.9% of the total cryptocurrency market cap, reaching its highest level since April 2021. This increase reflects the growing influence of Bitcoin, particularly on the top 50 altcoins, as it continues to outperform other digital assets during times of market uncertainty. During the sharp market sell-off on August 5, triggered by an unexpected hike in interest rates in Japan, Bitcoin’s cumulative volume delta (CVD), a key measure of buying and selling pressure, remained positive on U.S. exchanges. Meanwhile, altcoins saw heavy selling pressure, further highlighting Bitcoin’s role…
Ripple Labs has continued intensifying its RLUSD stablecoin testing efforts with daily minting sessions. While the exact motive behind its beta testing remains unknown, data from the Ripple Stablecoin Tracker shows that 2,450,000 RLUSD has been minted thus far in October. Intensified RLUSD minting Ripple Labs has a reputation for technological advancement. The firm has standards to uphold, and with many competitors in the stablecoin niche, its debut must be nearly flawless. Per the RLUSD tracker, the 2.45 million tokens minted at the stablecoin treasury occurred in four major tranches. The biggest of these saw 1,350,000 RLUSD minted on the…
After experiencing a strong downturn in late August and early September, Bitcoin (BTC) has, in recent weeks, entered a rally that only grew in intensity shortly after the Federal Reserve lowered interest rates by 50 basis points on September 18 for the first time since 2020. The rally has sent BTC well above $60,000 and, at one point in the early hours on Friday, above $64,000. Bitcoin has, however, quickly entered a slight correction, but one prominent cryptocurrency expert, Ali Martinez, warned on X that investors would be wise to ‘book some profits’ by selling the cryptocurrency. According to Martinez,…