Author: NBTC

JustLend DAO received new inflows from TRON whales. In a series of transactions, the DAO saw inflows of more than 3B TRX. Recent whale activity boosted the TRX available in JustLend DAO, the largest DeFi protocol on the TRON chain. In four transactions, the lending protocol received a total of 3,037,916,172 TRX, valued at more than $465.2M. The tokens can be used as lending collateral, giving the whales access to stablecoins for further investments. A series of four transactions flowed in from four unknown wallets, with two of the transactions for more than 1B TRX. The transfers happened within minutes…

Bitcoin’s hashrate has been climbing steadily, closing in on its peak of 693 exahash per second (EH/s) recorded on Sept. 8. At present, it’s cruising just shy of that record, clocking in at 680 EH/s. Block times have been quicker than the typical ten-minute average, and as we approach Oct. 9, the network’s difficulty is set to increase by 3.22%. Bitcoin’s Hashrate Growth Continues As of Oct. 7, 2024, Bitcoin’s hashrate, based on the seven-day simple moving average (SMA), is coasting along at 680.12 EH/s, according to data from hashrateindex.com. From its peak on Sept. 8, the network’s hashrate saw…

A buyer of a new Solana meme coin called Pochita turned $140 into $450,000 in less than 24 hours—and they still haven’t sold the bulk of the coins. The coin emerged (and surged) after the owner of the meme-famous dog that originally inspired Solana’s BONK coin adopted a new furry friend called Pochita on Wednesday. The news prompted various crypto degens to create a plethora of meme coins inspired by the pup—and unlike in the so-called Neiro civil war, one token quickly emerged as the winner. One unidentified trader, using a wallet starting with “AjwF,” bought 1 SOL ($140 at…

CleanSpark swiftly restored power and operations, achieving a hashrate of 28.7 EH/s after Hurricane Helene’s impact. Despite the storm’s challenges, CleanSpark’s diversified facilities helped maintain stability and recover quickly. With daily Bitcoin mining revenue at $30.59 million, CleanSpark is positioned to capitalize on market opportunities ahead. CleanSpark, a Bitcoin mining firm, has resumed normal operations after shutting down 365 MW of power at its Southeast Georgia mine following Hurricane Helene. On the day of the storm, CleanSpark’s hashrate dropped to 28.7 EH/s, but has since recovered. ‘.@CleanSpark_Inc restores operations after Hurricane Helene 🌪️💪. With power back online, their hashrate is…

Bitcoin (BTC) is on a six-month bear market, down-trending from March’s $73,800 all-time high to as low as $49,100, but this trend could shift as signals of a bull run surge on the horizon. Recently, different analysts have commented on a clear Bitcoin price downtrend made of lower highs and lower lows. Alan Santana mentioned how charts are mostly bearish, later setting his target at $40,000, warning of a crash. Credible Crypto shared a similar yet more optimistic stance, saying Bitcoin is not out of the woods – requiring a shift. This shift, however, appears to be nearing, according to…

Cardano founder Charles Hoskinson announced that Prism has become Hyperledger Identus, a decentralized identity framework. Hoskinson highlighted the importance of self-sovereign identity (SSI), where users control their own identity without being commodified by centralized entities. Hyperledger Identus is an open-source identity framework under the Apache2 license. Cardano’s research wing, IO Engineering, is developing this identity framework with community contributions. It forms the backbone for key Cardano products like Midnight, RealFi, and Lace, which use it for their identity needs. Hoskinson said identity should improve the user experience without turning individuals into the product. Hoskinson’s comment aligns with Cardano’s emphasis on…

Alexander Grieve, Paradigm’s VP of Government Affairs, detailed what is wrong with the US Securities and Exchange Commission’s (SEC) policies. It marks the second dissection that Paradigm, an investment firm known for throwing money behind many of the crypto industry’s mainstays, has made of the infamous securities regulator. US SEC’s Hand Always Ready To Hit Wells Notice Buzzer Grieve slams the US SEC for “carpet-bombing” the crypto industry in the name of “investor protection.” This includes issuing Wells Notices against anything value-adding that sprouts in the crypto market. “Under this Chair, and this Enforcement Director — if you have built…

Jeff Park, head of alpha strategies at Bitwise Asset Management, is convinced that there is zero chance that Bitcoin ETF options will end up reducing the volatility of the underlying cryptocurrency. As explained by Park, money is supposed to create a tradeoff between price and quantity. Central banks manipulate the money supply in order to ensure price stability. On the other hand, Bitcoin’s total supply is hard-capped at 21 million coins. However, its holders should relinquish the price guarantee, which means that they will have to deal with high levels of volatility. A massive development On Friday, the SEC greenlit…

Today, enjoy the Lightspeed newsletter on Blockworks.co. Tomorrow, get the news delivered directly to your inbox. Subscribe to the Lightspeed newsletter. Whenever a big name in the financial world saunters into blockchain, a healthy dose of skepticism is warranted. Institutional blockchain initiatives can oftentimes be more about firms saying they’re doing something than about actually doing something. One initiative that I’ve been trying to tease apart the seriousness of is the “finternet,” a forward-looking financial system being championed by some of the contributors to India’s UPI digital money system. The Bank for International Settlements penned a paper with the financial…

Two U.S.-regulated, dollar-denominated prediction markets began taking bets on the presidential race this week, with a month to go before Election Day. Kalshi, which fought a long legal battle with the Commodity Futures Trading Commission to offer election contracts in the U.S., launched its presidential markets on Friday, following Wall Street powerhouse Interactive Brokers’ (IAB’s) ForecastEx, which did so the day before. So far volumes are modest at both CFTC-supervised exchanges, with $344,101 worth of contracts traded on Kalshi and $346,000 on ForecastEx. By comparison, more than $1.2 billion has been staked on the race between Kamala Harris and Donald…