Author: NBTC
XRP ranked as the fifth-best-performing asset after reportedly having 6.71% weekly returns amidst a broader market recovery. XRP has made the headlines again after featuring in a mention by US-based asset manager Grayscale. The Bitcoin and Ethereum spot exchange-traded fund (ETF) issuer listed the XRPL native token among the weekly top ten best-performing assets among the biggest cryptocurrencies by market cap. In the snapshot tweeted on Friday, Grayscale listed XRP as the fifth-best performer, with a 1-week gain of 6.71%. This showed XRP’s bullish outturn amidst a wider market recovery. The data further uncovered that XRP’s gains meant it had…
A measure of Bitcoin’s intraday volatility spiked Monday to its highest levels since crypto exchange FTX’s collapse in 2022, as the asset’s price saw its most intense price swings in around 20 months. Bitcoin’s so-called high-low spread popped to 19% amid a global market selloff, according to K33 Research analysts Vetle Lunde and David Zimmerman. “Yesterday’s market activity was frantic and hectic,” they wrote in a research note, describing the activity as “violence.” FTX’s collapse wreaked havoc on the crypto market well over a year ago, pushing Bitcoin’s price down as low as $15,742 on November 9, 2022, according to…
Nolus, a cross-chain lease protocol focused on providing safer alternatives to high-risk crypto lending platforms, has unveiled a major update aimed at revolutionizing how decentralized finance (DeFi) users interact with its ecosystem. The update, scheduled for Q3, will introduce volatile base currencies, allowing users to borrow and lend assets like Bitcoin (BTC) and Ethereum (ETH) as base lending currencies. This significant enhancement aims to unlock new income streams, provide advanced hedging capabilities, and reduce operational overheads. By doing so, Nolus hopes to create a more active and liquid ecosystem for DeFi traders, yield farmers, and security-conscious crypto investors. Borrowing and…
Since the year 2019, the biggest holders of Ethereum have been consistently leveling up their network dominance. As per IntoTheBlock, a well-known DeFi market intelligence firm, the consistent accumulation of these whales over time went through intensification in 2023 simultaneous to the Ethereum Shanghai upgrade and now they control the circulating supply’s 43%. The market intelligence platform provided the details of this development on social media. Ethereum’s largest holders have steadily increased their dominance since 2019, consistently accumulating more ETH over time. This accumulation accelerated further in early 2023, coinciding with the Shanghai upgrade.Today, these addresses control over 43% of…
Cardano founder Charles Hoskinson has addressed speculations regarding ADA and Hydra. During his opening keynote on Rare Evo 2024, he claimed Cardano is “the most secure blockchain ever built.” Hoskinson also compared developing the Cardano network with building a tank. “Cardano will not go down, it’s built like a tank. But it’s faster now, so it’s built like a lambo tank,” he said. Hydra controversy Hydra is a Layer-2 scaling solution designed for Cardano, aimed at boosting transaction throughput and ensuring cost efficiency without compromising security. Based on peer-reviewed research, Hydra is a family of protocols, with Hydra Head being…
In the midst of shrinking revenues and rising operational costs, industry experts tell Decrypt that Bitcoin miners are continuing to invest in new, specialized hardware, displaying strong confidence in the future of the leading crypto network despite short-term struggles. According to a Glassnode report released this week, Bitcoin’s hash rate—an essential measure of mining activity—remains near all-time highs, just 1% shy, even though revenues have plummeted. The mining industry is currently facing a double challenge: increasing mining difficulty and declining transaction fee revenue. As the hash rate rises, so does the difficulty of mining and earning a BTC block reward,…
The chief executive officer of the world’s largest crypto exchange says that crypto’s latest crash is likely to be short-lived. According to Binance CEO Richard Teng, outside forces are currently shaping the digital asset markets. “Recent sharp drops in crypto & equity prices are influenced by macroeconomic factors. We do NOT believe it’s indicative of a long-term negative trend. With potential Fed rate cuts & geopolitical volatility, there’s still significant potential for market fluctuations. Reminder to always DYOR (do your own research) & stay informed. Keep building!” The crypto market cap, which sat around $2.48 trillion seven days ago, is…
Ethereum’s DeFi scene has been buzzing again this year, with the emergence of a new kind of asset called “liquid restaking tokens” or LRTs promising to maximize investor’s yields like never before. In the last year, billions of dollars of vale have flowed into liquid restaking protocols like Kelp DAO, Ether.Fi, Swell and Puffer Finance, and those platforms are locked in a turf war, vying to become the protocol of choice for adventurous DeFi investors. The liquid restaking trend arose thanks to EigenLayer, itself a fairly recent protocol, which last year launched a novel “restaking” platform on Ethereum. EigenLayer has…
As Ethereum (ETH) continues its months-long decline, analysts are divided on the cryptocurrency’s next price move. Some predict a further decline, potentially reaching $1,200 by the end of the year, while others anticipate a potential upward breakout. This piece explores the reasoning behind these differing positions. Ethereum May Fall to $1200 or Rise In a post on X, crypto analyst and entrepreneur Benjamin Cowen noted that ETH is currently trading within a wedge pattern, formed by converging support and resistance lines that narrow as the price fluctuates. Cowen pointed out that ETH traded within a similar wedge pattern back in…
According to recently published data, the original meme cryptocurrency Dogecoin remains ahead of the rest of the meme coins’ market. The key metric in which it continues to surpass them is the activity of the loyal DOGE community on various social media platforms. SHIB now again comes second after Dogecoin here. On Friday, the official Shiba Inu marketing lead, who prefers to call herself Lucie, shared a diagram. It shows that SHIB has regained the second place in social activity among meme cryptocurrencies. DOGE remains on the first place unsurpassed. $SHIB 🥰❤️ back to second place pic.twitter.com/jWqTmLWuzb — 𝐋𝐔𝐂𝐈𝐄 (@LucieSHIB)…