Author: NBTC
Legal & General (L&G), the London-headquartered pension and investment management firm with $1.5 trillion in assets under management, is plotting an entrance into the blockchain-based tokenization space that’s growing popular among finance giants. Tokenization – or the representation of conventional assets like U.S. Treasuries-backed money-market funds via tokens on a blockchain – has become popular among traditional finance firms. That accelerated after the arrival of BlackRock, the largest asset manager in the world, on the scene with its BUIDL fund on the Ethereum blockchain. Others are available from Franklin Templeton, State Street and Abrdn. “We are evaluating ways to make…
Xaman, the leading crypto wallet on the XRP Ledger, has launched its latest iteration, version 3.0, introducing a range of new features, including a monetization strategy. In a blog post on Monday, the team behind Xaman revealed version 3.0 of their popular XRP wallet. According to the announcement, Xaman 3.0 represents a major milestone in the platform’s evolution. It enables the team to craft a superior user experience that ensures the long-term viability of both Xaman and XRPL Labs. New Offerings for XRP Enthusiasts in Xaman 3.0 Xaman 3.0 comes with extensive internal enhancements to boost app performance and reliability,…
Bitcoin has been in CryptoQuant’s bearish phase since August 27. There’s been a decoupling from gold, which has been making record highs, while bitcoin struggles more than 20% below its record level of a few months ago. BTC’s MVRV ratio is below its 365-day moving average which suggests a further price correction may be on the cards. Investors in this current risk-averse environment appear to be favoring traditional safe-haven assets like gold as opposed to bitcoin (BTC). The correlation between bitcoin and gold has turned sizably negative of late, according to CryptoQuant, with gold recently pushing to new record highs…
V3V Ventures, a leading venture capital firm based in Singapore, has strengthened its position in the growing TON ecosystem. With their recent acquisition of the @trade username for $1.25 million, V3V Ventures seeks to establish a presence in the Telegram-based Web3 landscape, taking advantage of the platform’s opportunities. @trade, now a central asset in V3V Ventures’ digital portfolio, has seen its value surge to over $2 million since the acquisition. This growth reflects V3V Ventures’ strategy of combining premium digital assets with promotion and community engagement. By investing not only in acquiring @trade but also in promoting it through Telegram…
K9 Finance, the official liquid staking protocol for Shiba Inu blockchain Shibarium, has been listed on DeFiLlama, the largest TVL aggregator in the DeFi space. K9 Finance shared this milestone on its official X channel, generating positive feedback from its community. This development allows users to monitor K9 Finance’s activity directly through DeFiLlama’s dashboard, reflecting a growing interest in the protocol. K9 Finance’s page on DeFiLlama highlights the project’s current financial metrics. The total value locked (TVL) within the platform stands at $1.05 million, which indicates the number of assets secured in its smart contracts. The staked amount of its…
Recent trends indicate that Bitcoin might be heading towards its next bull run. Bitcoin reserves on exchanges have been falling significantly, a pattern that often precedes substantial price increases. Such a reduction in reserves means that Bitcoin holders are storing their coins in cold wallets, making less Bitcoin available in the market for trading. Historically, such a reduction in exchange reserves has been followed by price surges, according to reports from CryptoQuant. Bitcoin’s Next Bull Run?“Decreasing #Bitcoin reserves and rising stablecoin reserves indicate a bullish outlook for Bitcoin. As the market supply tightens and buying power builds, we could be…
In a notable development, Cardano (ADA) has reentered the top 10 cryptocurrencies by market capitalization, driven by a notable 12% price surge over the past week. After weeks of price consolidation, Cardano’s latest increase has allowed it to retake its position among the top 10 digital assets. In the past week, Cardano’s price increase has been impressive, with ADA climbing from $0.328 to $0.376 in just eight days. At the time of writing, ADA is trading around $0.372, up 4.91% in the last 24 hours and 12% weekly; its market capitalization has also increased. The surge has caused Cardano to…
Cryptocurrency exchange Bybit has published its fifteenth proof of reserves report, revealing major changes in user asset holdings across various cryptocurrencies. The snapshot of the asset holding was taken on October 1, 2024. The report shows notable increases in Bitcoin (BTC) and Ethereum (ETH) assets, while Tether (USDT) holdings have declined a bit. Source: Wu Blockchain Bitcoin and Ethereum assets show growth According to the report, Bybit’s user Bitcoin assets have grown to 51,421 BTC, marking a 4.65% increase from the previous snapshot on September 4, 2024. This growth indicates a rising interest in Bitcoin among Bybit users. Similarly, Ethereum…
The potential formation of a death cross, an indicator that hints at a possible bearish reversal when a short-term moving average crosses below a long-term moving average, puts Bitcoin at a critical level. The 50-day and 200-day moving averages of Bitcoin are progressively convergent, as the chart illustrates, which raises questions about the asset’s potential price movements. Because it typically indicates impending downward pressure, a death cross frequently causes traders to exercise increased caution. This pattern indicates that Bitcoin may be about to enter a prolonged bear market. Nevertheless, it is important to consider the larger market environment because death…
The Italian crypto sector is very worried because there is a growing belief that if the increase in taxes on crypto capital gains in Italy were to be effectively approved, its impact could be devastating. Several signatories of the open letter published at the end of last week by a large list of industry operators explain it. The crypto sector in Italy and the potential catastrophic impact of the new taxes The impact on the Italian crypto sector The amendment The joint attack of Consob and ECB The crypto sector in Italy and the potential catastrophic impact of the new…