Author: NBTC
Pyth Network has launched Oracle Integrity Staking (OIS) to enhance decentralized finance (DeFi) security. This innovative mechanism ensures reliable and high-quality price feeds by aligning incentives for data providers and stakers. As DeFi expands, security concerns continue to rise. Oracle Integrity Staking addresses these concerns, promoting greater accuracy in price data and economic protection across the Pyth Network. Enhanced Accuracy and Accountability for DeFi Data Oracle Integrity Staking is a significant milestone in developing decentralized financial systems. Pyth Price Feeds offers improved data accuracy by holding data publishers accountable through staking rewards and penalties. By staking tokens, data providers are…
Ripple CEO Brad Garlinghouse addressed key concerns about the U.S. Securities and Exchange Commission (SEC) and its ongoing legal battles with the crypto industry in a recent interview with journalist Eleanor Terrett. The meeting focused on the SEC’s cross-appeal regarding the definition of an investment contract under the Securities Act and its implications for the industry. Garlinghouse was responding to investor Anthony Pompliano’s question: “If cryptocurrencies were to be considered an investment contract, would that change the classification under which people like Coinbase and others allow investment contracts on their platforms?” “If the SEC prevails at this point, it would…
Gaming technology startup Improbable has announced plans to develop its own layer 1 blockchain, Somnia, which the firm claims will process over 400,000 transactions per second. Somnia, which plans to launch in devnet in the coming weeks, has “cracked the scalability problem that has long hindered blockchain technology,” Improbable founder and CEO Herman Narula claimed in a statement. He added that the firm leveraged its “knowledge from gaming and distributed systems” to develop Somnia, which is eyeing “mass consumer applications” including gaming, social platforms and decentralized finance (DeFi). Improbable is developing the fastest blockchain for mass consumer applications for @Somnia_Network!…
Bitcoin remained stable over the weekend, trading between $54,000 and $55,000, following a significant liquidation of crypto long positions after a U.S. jobs report indicated a weaker labor market. Upcoming events this week include a Presidential debate and the release of U.S. economic indicators like the CPI and PPI, with market analysts from Presto Research suggesting Bitcoin is undervalued due to its record-high network security despite prevailing macroeconomic concerns. Bitcoin (BTC) was little changed over the weekend ahead of a busy week that includes a much-awaited Presidential debate and the release of key U.S. economic figures that track changes in…
The non-fungible token sales volume over the last week has dropped by 7%, and stands at $89.1 million. The crypto market, exhibiting signs of recovery, has taken a U-turn. According to the latest data, the global crypto market cap has dropped by over 2% in the last 24 hours. In comparison to last week’s $93 million NFT sales volume, this week has witnessed a modest 7% drop in sales: NFT sales volume plunged to $89 million. The Ethereum (ETH) network retains its first ranking in terms of volume. Solana dethrones Bitcoin (BTC) to claim the second position. NFT buyers surge…
Ethereum has experienced a sharp retrace, dropping over 13% since Monday and stirring concerns among investors who had anticipated a breakout. This sudden pullback, which took ETH as low as $2,380 on Friday, has injected a sense of worry into the market, leaving many to question the strength of its recent rally. However, on-chain data from Santiment reveals an intriguing development—whale activity in Ethereum surged to a six-week high just as the price dipped. This spike in large transactions suggests potential accumulation by whales, a pattern often viewed as a bullish signal when occurring near key support levels. Historically, significant…
Bonk Inu (BONK), a Solana-based meme coin, has made a notable advancement by announcing its upcoming launch of an exchange-traded product (ETP) in the U.S. This significant move sees collaboration with New York-based Osprey Funds, renowned for assisting in the creation of pioneering Bitcoin ETFs and the Solana Trust. “This is a groundbreaking step towards a BONK ETF,” an announcement at the recent Solana Breakpoint event revealed, promising increased visibility and potential price impact for the token. Bonk Inu sets the stage for meme coins with its forthcoming ETP launch in the U.S., stirring considerable optimism within the crypto community.…
The U.S. has accused a businessman of running an unlicensed cryptocurrency operation that allegedly enabled secretive “off-the-books” transactions. Unlicensed Crypto Transactions: Businessman Christopher Scanlon Indicted on Federal Charges Christopher James Scanlon, a Florida-based businessman, faces federal charges for allegedly operating an unlicensed cryptocurrency and fiat currency transmitting business, the U.S. Department of Justice (DOJ) announced. Scanlon, originally from Utah, was arrested on Oct. 10 at Miami International Airport and later pleaded not guilty in Newark federal court. According to the indictment, Scanlon, CEO of Aurae Lifestyle and Club Swan, managed entities such as PMA Media Group and AU Card LLC,…
Georgia’s leading opposition party, the United National Movement, launched United Space, an identity app powered by Rarimo ahead of the Oct. 26 parliamentary elections. According to a report on Alexa Blockchain, the app aims to use the block-chain powered system to combat low voter turnout in Georgia by rewarding citizens for participation, regardless of their political stances. If elected, the party wants to use the app to “digitize” the Public Service Hall as a platform for experimenting with Universal Basic Income, with the proceeds returning to citizens. Powered by zero-knowledge social protocol Rarimo, the United Space app wants to implement…
A closely followed crypto strategist says he’s seeing signals that Bitcoin (BTC) is in the early stages of reversing its latest correction. Pseudonymous analyst Credible Crypto tells his 417,400 followers on the social media platform X that Bitcoin trader activity suggests that BTC could be setting up for a short squeeze. A short squeeze happens when traders who borrow an asset at a certain price in hopes of selling it for lower to pocket the difference are forced to buy back the assets they borrowed as momentum moves against them, triggering further rallies. The trader says he’s bullish on Bitcoin…