Author: NBTC
On Sept. 19, Hut 8 announced a major hosting agreement with Bitmain, aiming to generate $125 million annually. H.C. Wainwright analysts view this move positively as management shifts to offense and carries out a major deal. Under the deal, Hut 8 will deploy up to 15 exahashes per second of Bitmain’s U3S21EXPH ASIC miners by Q2 2025 at its new Texas-based site, according to an H.C. Wainwright release shared with crypto.news. Mike Colonnese, H.C. Wainwright’s crypto analyst, anticipate this option could lift Hut 8’s self-mining hash rate from 4.7 EH/s to 19.7 EH/s, solidifying the company’s market position. Colonnese highlighted…
Unusual trading volumes were observed for some altcoins on South Korea’s largest cryptocurrency exchange Upbit. Tezos (XTZ) was one of the notable assets, with its one-hour trading volume increasing by 262.51% to $26,000, well above its normal average of $7,000. Interestingly, Tezos’ volume on Binance decreased slightly by 6.45%, reflecting the contrast in trader behavior between the two exchanges. Another significant increase was seen in STP (STPT), with its volume increasing by 162.25% on Upbit from $249,000 to $654,000. Meanwhile, Binance noted a significant 24.42% decrease in STP’s trading activity. Hedera (HBAR) also saw notable activity on Upbit, with a…
A crypto exchange’s emergence out of stealth earlier this week came nearly two years after one of the industry’s largest players crashed. Called TrueX, the new company — dubbed as non-custodial and stablecoin-native — seeks to be a “strong alternative” to the segment’s traditional exchange incumbents. “The collapse of FTX highlighted the need for a safer and more trustworthy market model,” TrueX co-founder Vishal Gupta told Blockworks. “This presented an opportunity to build a next-generation exchange from the ground up, one that fully separates trading from custody and integrates stablecoins for settlement.” Gupta, the former head of exchange at Coinbase,…
Metaplanet’s Bitcoin-based strategy led to a 443.2% surge in its stock price, significantly outperforming traditional assets in 2024. The company’s partnership with SBI for Bitcoin trading and custody reinforces its commitment to digital asset adoption and regulatory compliance. Metaplanet, a listed Japanese company, has seen its stock price skyrocket following the implementation of a Bitcoin-based strategy in April 2024. This strategic approach has resulted in a stunning 443.2% increase in the company’s stock value, outperforming other traditional assets in the market. ビットコインスタンダードの採用を発表した日以降のメタプラネットの株価パフォーマンスMetaplanet stock performance since adoption of Bitcoin standard @Metaplanet_JP pic.twitter.com/YTAAuFZWJU — Simon Gerovich (@gerovich) September 19, 2024 Metaplanet’s Bitcoin…
Shiba Inu’s Shibarium is celebrating its first anniversary by introducing new features focused on enhancing security and reducing token supply. These improvements highlight a year of notable adoption and development for the Ethereum-based Layer-2 network. Shibarium Celebrates First Year With New Features Shiba Inu’s marketing lead, Lucie, recently announced via X (formerly Twitter) that Shibarium has introduced a significant new security feature. “Shibarium just added a fantastic new feature — a ‘Security Score’ for contracts created on the network. This is a game-changer for anyone navigating the ecosystem, offering an extra layer of transparency and peace of mind,” Lucie shared.…
Traders on Binance are taking advantage of the chance to purchase the decline of Bitcoin. Recent data shows that almost 70% of such traders are long on BTC, demonstrating a very bullish attitude among the platform’s elite traders. As of Aug. 1, 2024, 69.3% of accounts had long positions and 30.7% had short positions, according to Binance’s orders distribution. This indicates a long/short ratio of 2.26. Significantly favoring long positions implies that the best traders think the current decline in Bitcoin is just a temporary setback and anticipate a bounce back. You can get more context by looking at the…
BNY Mellon, America’s largest custodian bank, appears to have received SEC approval to offer institutional crypto custody services, according to testimony at a Wyoming public hearing. Testimony from Chris Land, general counsel for US Senator Cynthia Lummis, indicated that BNY Mellon had received a “variance” from complying with the SEC’s Staff Accounting Bulletin (SAB) 121. These guidelines were previously seen as a major hurdle for banks looking to enter the crypto custody business. This variance could clear the way for BNY Mellon and other banks to start offering crypto custody services to institutional clients. “[BNY] is looking to get more…
Token unlock involves releasing tokens that were previously blocked under fundraising terms. Projects carefully schedule these releases to avoid market pressure and prevent a drop in token prices. However, factors like lack of liquidity or early investor profit-taking can significantly impact an asset’s dynamics. Here are four major token unlocks to watch next week. Pixels (PIXEL) Unlock date: August 19 Number of tokens unlocked: 54.37 million PIXEL Current circulating supply: 771.04 million PIXEL Pixels is a multiplayer game on the Ronin blockchain, utilizing the PIXEL token as its in-game currency and for community governance. Holders of PIXEL can mint NFTs,…
As expected, Hamster Kombat took a season-ending snapshot of players’ progress Friday as the Telegram tap-to-earn game gears up to launch its HMSTR token and airdrop on September 26. And now we know what’s next for the game, at least for now: an “interlude.” Hamster Kombat’s “interlude season” rolled out in the Telegram game on Friday, scrapping many of the familiar features while the developers calculate players’ airdrop allocations. Gone are the familiar in-game coins, and tapping on the main screen no longer earns you anything at all, it appears. Likewise, the long list of crypto exchange upgrades and the…
BlackRock iShares Bitcoin Trust (IBIT) reigns supreme on the BTC ETF market. The asset manager has released its latest figures detailing the current holdings in Bitcoin. Per the product page on its website, the total holdings have grown to over 342,000 BTC. BlackRock’s record-breaking Bitcoin holdings Notably, the total current holding stands at 342,658.96610 BTC, based on when the market price traded for $65,770 per BTC. At this value, BlackRock’s Bitcoin holding is a massive $22,537,283,282.30 as of July 31, 2024. This signifies a major win for BlackRock and comes a couple of weeks after U.Today reported that the CEO,…