Author: NBTC
In a significant development within the decentralized exchange (DEX) landscape, Trader Joe has emerged as a dominant force on the Avalanche blockchain, surpassing PancakeSwap to claim the title of the second-largest DEX by fees generated in the past 24 hours. Trader Joe’s meteoric rise on Avalanche Trader Joe’s ascension to prominence on Avalanche has been underscored by its staggering trading volume and fee generation. Recent data from Token Terminal reveals that the DEX processed over $142 million in trading volume in the last day alone, with 98% of fees emanating from tokens based within the Avalanche ecosystem. A pivotal factor…
Gamification has recently emerged as a significant catalyst in the crypto ecosystem, revolutionizing the onboarding process for new participants and incentivizing existing users to deepen their engagement. In fact, most major exchanges today, including industry giants like Binance and Coinbase, have implemented gamified programs primarily focused on crypto education. Others, such as Blocktrade, have elevated the gaming experience by offering more immersive features. Alongside trading, users can unlock rewards by participating in the platform’s arcade games, earning incentives like trading bonuses, unique avatars, and withdrawal discounts. This trend of Web3 platforms integrating gamified incentives alongside their core products was largely…
The price of the Ethereum coin is fluctuating below the resistance level of $2,800. Price analysis by Coinidol.com. Long-term analysis of the Ethereum price: bullish The price of Ethereum (ETH) has surpassed the previous high of $2,715 and reached a high of $2,858 on February 15, 2024. In the last 48 hours, the largest altcoin has experienced a slight decline. The bears are rejecting the digital asset’s continued upward trend. The value of the altcoin currently stands at $2,784. Ether is expected to continue its positive trend as long as it remains above the current support level. Buyers are hoping…
Bitcoin price is attempting a fresh increase above the $52,000 resistance. BTC must clear the $52,800 resistance to continue higher in the near term. Bitcoin price is gaining pace above the $52,800 resistance zone. The price is trading above $52,000 and the 100 hourly Simple moving average. There was a break above a key bearish trend line with resistance at $51,880 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could continue to move up if it clears the $52,800 resistance zone. Bitcoin Price Eyes More Gains Bitcoin price started a downside correction from the…
The Shiba Inu ecosystem team has revealed plans to allocate a portion of proceeds on its new NFT project to burn ecosystem tokens. Recently, the Shiba Inu team unveiled an upcoming NFT project called Sheboshis. The new collection uses the trend ERC-404 standard, which blends ERC-721 and ERC-20 to introduce fractionalized NFTs. While news of the Sheboshis launch generally focused on the collection’s unique features, the ecosystem team has now revealed additional information about the project. Top of the latest reveals involves plans from the team to burn a portion of the proceeds that it will receive from selling some…
Tranchess, a decentralized protocol specializing in risk-adjusted yield solutions for digital assets, announced the launch of two new staking products in collaboration with Lido Finance, a leading liquid staking platform. These products, dubbed “staYETH” and “turYETH,” aim to provide investors with diversified options for earning yield on their staked Ether (ETH). Stable and Leveraged Options: staYETH: Inspired by traditional “risk-free” investments, staYETH offers a steady, predictable return on staked ETH. This aims to attract investors seeking lower volatility and familiarity with conventional financial instruments. turYETH: Designed for those seeking aggressive growth, turYETH utilizes leverage on yield differentials to potentially amplify…
Uptop, an established Web3 loyalty and reward platform, devised an exceptional idea to enhance the Empire State Building, the iconic landmark of New York, earlier this year. The inexperienced portmanteau scheme, which is founded on NFTs and managed by ESRT, an industry-leading responsible managing company, has once more earned the structure Tripadvisor’s designation as the number one attraction in the United States over the past two years. Utilizing Avalanche blockchain technology to ensure a seamless experience for an estimated four million annual visitors has revolutionized this historic site into a cutting-edge destination. The partnership between Uptop and the Empire State…
In a notable development, Ethereum ICO participants have collectively pledged 46,464 ETH to the Ethereum beacon chain over the past week. This translates to a substantial investment totaling $128 million, underscoring the confidence and support in Ethereum’s ecosystem. A closer examination of the contributions reveals a particularly significant address. Originating from the Genesis Block in 2015, this address still retains a considerable amount of ETH, currently valued at $139 million. This reinforces the long-term commitment and belief in Ethereum’s potential among early stakeholders. These pledges demonstrate a strong endorsement of Ethereum’s vision and technological advancements, further solidifying its position as…
Several major banks in the United States are exerting pressure on the Securities and Exchange Commission (SEC) to facilitate their participation in the recently approved spot Bitcoin ETFs market. Current Challenges and Banks’ Demand In a joint letter addressed to U.S. SEC Chair Gary Gensler, several leading banking associations, including the Bank Policy Institute (BPI), the American Bankers Association (ABA), the Financial Services Forum, and the Securities Industry and Financial Markets Association (SIFMA), have requested targeted modifications to Staff Accounting Bulletin No. 121 (SAB 121). According to an analysis from Coin Bureau, a prominent cryptocurrency analyst and commentator on X,…
The volume of daily transactions on the Bitcoin network has seen a significant decline since Jan. 28, 2024, with numbers falling from peaks above 600,000 to below 300,000 transactions per day. This downturn is in sync with a decrease in the daily creation of Ordinal inscriptions, overall easing congestion and reducing onchain fees. Network Activity Slows on Bitcoin as Ordinal Inscriptions Dip Data from Feb. 17, 2024, indicates that bitcoin miners processed 327,713 transactions over a 24-hour timeframe. The month of February has experienced a noticeable dip in daily transaction activity, a stark contrast to the 636,523 transfers recorded on…