Author: NBTC
Prisma Finance, a key player in the decentralized finance (DeFi) space, has introduced a groundbreaking borrowing protocol called PrismaLRT. It aims at revolutionizing the utilization of Liquid Restaking Tokens (LRTs). This innovative protocol addresses the liquidity constraints faced by LRT holders. Moreover, it paves the way for greater efficiency and accessibility in the DeFi ecosystem. 1/ Introducing $ULTRA, sound money backed by LRTs🌈A new borrowing protocol developed by @PrismaFi, PrismaLRT offers unparalleled efficiency for Liquid Restaking Tokens (LRTs).Let’s see how 👇https://t.co/8b2nhKKFZt — Prisma Finance (@PrismaFi) February 14, 2024 Prisma Finance’s $ULTRA-backed PrismaLRT Redefines DeFi Opportunities DeFi has changed considerably with…
After the late Tuesday launch of the Bitcoin Ordinals gaming project Bits failed to pull in as much demand as expected, the project announced on Wednesday that it was slashing prices and the total supply of its assets. “A stumble at the start never determines the rest of the journey,” pseudonymous DFZ Labs co-founder Betty said on Twitter. “While we own misjudging the market for supply and price here, we’re moving forward with an amazing team and adjusted supply/price.” A stumble at the start never determines the rest of the journey. While we own misjudging the market for supply and…
The Dencun hard fork, which is anticipated to launch in March 2024, will see multiple Ethereum Improvement Proposals (EIPs) go live on the Ethereum mainnet. Among them, EIP-4844, also known as proto-danksharding, has been gaining particular interest. In today’s Ethereum ecosystem, layer-2 scaling solutions like rollups play a crucial role in improving transaction throughput and reducing costs. These rollups “inherit” security from Ethereum by having the execution layer nodes store a temporary copy of the network’s ledger and history. This process allows for the verification of transaction accuracy. Read more: Rollups saved Ethereum users a boatload of gas fees: Report…
FED member Raphael Bostic recently made enlightening statements about the US economy. While Bostic expressed his surprise at the latest data, he also stated that significant progress has been made on inflation. Despite the latest inflation data, Bostic said the FED should be patient about policy decisions. Bostic stated that there is still more work to be done to reduce inflation pressures. However, he argued that people generally feel good about the state of the economy. The Fed member remains optimistic about inflation returning to 2%. Looking ahead, Bostic expects interest rates to start lowering in the summer. He also…
Exchange-traded funds (ETFs) have significantly increased their Bitcoin holdings, showcasing remarkable market confidence in cryptocurrency investments. Leading the charge, iShares by BlackRock (IBIT) now holds nearly 116,000 BTC, with Fidelity’s Bitcoin ETF (FBTC) not far behind, managing over 83,000 BTC. This rapid accumulation within just five weeks of Bitcoin ETF trading has dispelled doubts regarding the market demand for such financial products. ETFs embrace Bitcoin The ETF market has witnessed a historic influx into Bitcoin, with iShares by BlackRock and Fidelity’s Bitcoin ETF at the forefront. iShares’ substantial holdings highlight the growing interest from traditional financial institutions in Bitcoin as…
In a surprising revelation, Data Analytics firm Spot On Chain has revealed that bankrupt crypto trading firm Alameda Research currently holds a significant amount of Worldcoin (WLD) tokens worth $168 million. Bankrupt Alameda Research Holds WLD Tokens Worth $168 Million This disclosure marks WLD as Alameda’s current highest net worth entity. According to Spot On Chain’s findings, Alameda Research acquired these WLD tokens from Worldcoin on August 15, 2023. However, Alameda has reportedly been inactive since acquiring the tokens, avoiding any interactions or transactions involving WLD tokens. The disclosure that Alameda Research holds significant holdings of WLD tokens comes against…
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…