Author: NBTC

While Bitcoin prices struggle for momentum and are caged inside a narrow range, on-chain data tells a different story. Taking to X, one analyst notes that whales, which are large crypto holders, are actively accumulating the world’s largest coin by market cap. Bitcoin Whales Accumulating Despite Weakness By the time this data was shared, Bitcoin whales held over 5.1 million BTC worth a staggering $331 billion. That there is still demand when the coin moves in a narrow range flies in the face of recent market weakness and skeptics betting on even more price dumps. Related Reading: After WIF, BONK,…

Omnichain interoperability protocol LayerZero has garnered significant attention from prominent investors, resulting in a valuation of $3 billion. With anticipation building around its upcoming yet-to-be-launched token airdrop, the growing interest solidifies the protocol’s impact. LayerZero is reportedly designed to seamlessly connect blockchains while ensuring smooth cross-chain transactions with its models. Moreover, LayerZero’s ZRO airdrop is expected to occur soon, fueling investors’ interest in the token. According to reports, several projects are built on or utilizing LayerZero’s technology, including the bridging platform Stargate, the RWA gaming asset tokenization protocol MetaZero, the decentralized lending and borrowing protocol Radiant Capital, and the decentralized…

There was a lot of news last week, but maybe the biggest news came Wednesday when the U.S. Department of Justice arrested two co-founders of Samourai Wallet, a bitcoin wallet that offered mixing services. The arrest ramps up the federal government’s efforts to tamp down on what it sees as money laundering enabled by privacy tools, and sets up a continuation of that broader conversation on where the right to transact in privacy fits within national security interests. You’re reading State of Crypto, a CoinDesk newsletter looking at the intersection of cryptocurrency and government. Click here to sign up for…

The Build on Bitcoin (BOB) project announced the launch of its first phase on Wednesday, enabling decentralized apps—dapps—to interact with the world’s top blockchain. The BOB mainnet is coming online with $300 million in total value locked (TVL) and over 40 dapps already available, the team said on Twitter, declaring “a Bitcoin-driven DeFi summer” with more to come in the next three weeks. Build on Bitcoin is intended to be a hybrid layer-2 network that merges Bitcoin’s global adoption, liquidity, and proof-of-work security with the decentralized finance (DeFi) features of Ethereum: smart contracts, wallets, and access to stablecoins. In March,…

Bitcoin has lost 80% of the exponential energy of each successful bull market cycle, there have been four major ones till date. Peter Brandt with over forty years of trading experience says that Bitcoin has likely Bitcoin has reached the cycle high for this bull run Peter Brandt has identified Exponential Decay in Bitcoin cycles. The legendary trader says he doesn’t like the decay occurring in Bitcoin since it is one of his largest personal investment positions. Brandt identified four major bull cycles in the asset with the ongoing current fifth major one. Dec 21, 2009 to Jun 6, 2011…

Binance Labs, the venture capital and incubation arm of Binance has invested in Movement Labs, the first integrated blockchain network, integrating the security of move and parallel execution through a zero-knowledge rollup. Movement Labs will support Sui Move, Aptos Move, and an embedded EVM interpreter MEVM—empowering both Sui, Aptos, and EVM users to use the L2. This modular approach represents an innovative direction for parallelized virtual machines while remaining integrated with Ethereum’s liquidity, security, and ecosystem toolings. Movement’s Move-EVM allows developers using Move and Solidity to deploy formally verified code at runtime, effectively blocking the execution of common attack vectors…

Leading non-custodial crypto wallet Exodus confirms that it has logged Shibarium integration requests in its suggestion box. Exodus has provided an update about its potential integration of Shiba Inu’s Layer-2 (L2) scaling solution, Shibarium. Exodus Wallet Considers Supporting Shibarium In a recent development, the official X handle of Exodus Wallet confirmed that the requests to support Shibarium and its gas token Bone ShibaSwap (BONE) have been logged in its suggestion box for consideration. Hey, hey 👋 Shibarium and BONE are in our suggestion box 📮 I don’t have an ETA, but if I did, I’d share it with you in…

Changpeng Zhao, founder of cryptocurrency exchange Binance, will learn his fate today regarding possible prison time for violating US money laundering laws. Prosecutors sought a three-year prison sentence, twice the 18-month sentencing guideline. They argue that “the scope and consequences of Zhao’s misconduct were enormous,” the sentencing memo states. In response, Zhao’s legal team argues that their client does not deserve a prison sentence. They pointed out that “no defendant has ever been sentenced to prison in a similar BSA (Bank Secrecy Act) case.” Zhao pleaded guilty and resigned from his position at Binance as part of a settlement with…

The famous decentralized protocol AltLayer has recently started a collaboration. As per the company, it has joined forces with Inco, a worldwide confidentiality layer concerning Web3, to integrate exclusive confidential service for rollups. On its official account on the social media platform X, the company provided an overview of the partnership. Confidential service integration for rollups is now here, thanks to our partnership with @inconetwork!Their Universal Confidential Computing Layer tech enables a variety of new dApps that require computing over confidential and private data. More⬇️ https://t.co/xB07ZZjlRm pic.twitter.com/8oivUZnuiq — AltLayer (@alt_layer) May 1, 2024 Altlayer’s Partnership with Inco Integrates Confidentiality Layer…

The Bitcoin (BTC) price chopped either side of the $64,000 level on Friday in the wake of the latest US inflation data report, which showed the Core PCE index rising 0.3% MoM in March, in line with the market’s expectations. A MoM inflation rate of 0.3% translates to an annualized inflation rate of around 3.6%. That’s well above the Fed’s 2% inflation target, pointing to still uncomfortably high inflation in the US. Economists highlighted that stubbornly high housing and utility inflation could keep MoM price pressures elevated for some time. Here is Powells favourite inflation gauge. PCE Core Service Less…