Author: NBTC
Ethereum’s Layer 2 networks are gaining traction, with 14.65 million ETH currently locked in various protocols. The locked value has skyrocketed by 109.61% in the past year, according to the latest data from L2Beat. Ethereum’s Layer 2 solutions are built to deliver faster and more affordable transaction processing compared to the main Ethereum network (Layer 1). In the last 30 days alone, the amount of ETH locked in Layer 2 solutions grew by 6.75%, showing consistent growth. This week, the figure hit an all-time high of 14.77 million ETH valued at over $33 billion. “Ethereum’s Layer 2 is Unstoppable” —…
El Salvador President Bukele expects to submit a 2025 government budget with no planned deficit. The 2024 budget had a $338 million deficit and the gap when Bukele became president in 2019 was $1.2 billion. In August, the International Monetary Fund announced that it had different discussions with Salvadoran authorities and “progress has been made in the negotiations toward a Fund-supported program.” The president of El Salvador, Nayib Bukele, said he will submit a 2025 deficit-free budget to the Legislative Assembly. “I announce that this September 30 we will present before the Legislative Assembly for the first time in decades…
The Securities and Exchange Commission was mostly a punching bag for witnesses in a House Financial Services Committee hearing hosted Wednesday by its crypto subcommittee. Daniel Gallagher, a former SEC commissioner, recounted Robinhood’s difficulty in trying to comply with the agency’s views on crypto and argued the regulator has ignored its own authority to do something more to establish digital assets rules. The U.S. Securities and Exchange Commission was hammered for two hours in a congressional hearing on Wednesday in which the witness list predominantly included agency critics, including former Commissioner Daniel Gallagher, who is now at Robinhood. In a…
The DEX sector highlights a significant development in the case of weekly trading volume. As per Phoenix, a famous crypto analytics firm, the top decentralized exchanges in terms of 7-day trading volume take into account Uniswap, PancakeSwap, ORCA, Aerodrome, Raydium, DODO, Curve, Camelot, and Thorchain. The analytics provider took to its official social media account to share the list of these prominent DEXs. TOP #DECENTRALIZED EXCHANGES BY WEEKLY TRADING VOLUME #Uniswap #Pancakeswap #Orca #Aerodrome #Raydium #DODO #Curve #Camelot #ThorChain pic.twitter.com/5fvxLogn2f — PHOENIX – Crypto News & Analytics (@pnxgrp) September 17, 2024 Uniswap Leads the DEX Sector with a 7-Day Volume…
Crypto mining equipment makers created improved machines, giving solo miners a chance to solve blocks or share rewards with larger mining pools. Technical innovations have turned the tide for Bitcoin mining. Let’s step back and look into the industry that spawned the cryptocurrency economy and its ramifications. What is Cryptocurrency Mining? Cryptocurrency mining is the process of performing so-called proof of work, using high-level computing power to provide cryptographic security and process transactions. Miners competing with more computational power also make the network more secure since no single miner can control cryptocurrency transactions or alter the state of the network.…
A fresh crypto whale, ‘bc1qh’, recently withdrew 4,600 Bitcoins worth $291 million amid the price dip during the last eight hours. According to SpotOnChain, a leading blockchain analytics platform, the fresh whale withdrew a large sum of Bitcoin through Bitfinix. Fresh whale “bc1qh” withdrew 4,600 $BTC ($291M) from #Bitfinex at ~$63,209 at the dip in the past 8 hours!Recently, we also noticed 3 other whales (likely one entity) withdrawing 3,910 $BTC ($257M) from #Bitfinex since June 12, with the last accumulation only 3 days ago.Is… https://t.co/N09fJsv6xq pic.twitter.com/j4Nm9jxHim — Spot On Chain (@spotonchain) August 2, 2024 The news came to the…
The rise of decentralized finance is particularly strong in regions with weak banking systems, such as Sub-Saharan Africa, Latin America, and Eastern Europe. Experts believe this is because defi offers financial tools and services traditionally unavailable to people in these areas. Experts point to the user-friendliness and security of defi compared to traditional financial institutions in these regions. However, challenges like complex onboarding processes, regulations, and hacking threats hinder widespread adoption. Pre-Crypto Winter Enthusiasm Returns According to experts, interest in decentralized finance (defi) and defi-related services in Sub-Saharan Africa, Latin America, and Eastern Europe is largely due to economic instability…
Recent Ethereum price action saw ETH reaching another low of $2,150 on September 6, raising concerns of a more severe drop towards the $2,000 price level. Although these concerns were eased with a subsequent bounce to $2,460 on September 13, Ethereum remains largely in a downtrend, with a triple-bottom price formation now shaping up. Interestingly, this triple bottom formation is not new for Ethereum. As technical analysis points out, the current price action seems to repeat a similar playout in mid-2021. Ethereum Fractal Suggests Rally In Q4 According to a technical analysis by crypto analyst CryptoBullet on social media platform…
Crypto venture giant Multicoin led a $10 million fundraise for the builders of Pipe, a proposed “content delivery network” (CDN) that uses tokens to incentivize people hosting internet infrastructure. The startup building Pipe Network, Permissionless Labs, is focusing on one of the unseen but ubiquitous pieces of the modern internet. Many websites cannot afford to let their content lag as it zips long distances from hosting server to end-user. So they rely on networks of relay servers that can be called upon by the end-users to which they’re geographically close. A handful of powerful internet companies like Cloudflare and Akamai…
Pastor Brandon Biggs, an acclaimed Christian prophet, has shared another striking prophecy regarding XRP, suggesting that the cryptocurrency could experience an “overnight” surge. Over the last 24 hours, XRP has seen an improved market sentiment. In particular, XRP has posted an approximately 8% gain today, advancing from an intraday low of $0.5661 to a daily high of $0.6109. At press time, XRP still maintains its position in the freshly attained $0.61 range. Among the top-ranking crypto assets, XRP boasts the best 24-hour performance. Amid this notable comeback from the earlier bearish and passive performance, the XRP Army has revisited Pastor…