Author: NBTC
BTC ended Thursday UTC with a nearly 12% gain, the biggest since Feb. 28, 2022, according to TradingView. Risk assets stabilized as upbeat weekly U.S. jobs data eased recession concerns. Observers cite $61,800 and $54,000 as key levels to watch out for in the near term. Bitcoin’s (BTC) price recovery from Monday’s rout has gathered pace and how. The cryptocurrency surged nearly 12% to $61,720 on Thursday alone, the biggest single-day UTC gain since Feb. 28, 2022, when prices rallied over 14%, according to charting platform TradingView. The total crypto market capitalization rose 11% to $2.11 trillion, the biggest jump…
Terraform Labs, the company behind the Terra ecosystem and the infamous $40 billion collapse of UST and LUNA, has unveiled a new Shuttle Bridge interface. This bridge will enable community members to redeem their wrapped assets. It will remain open for 30 days once the company’s Chapter 11 plan takes effect. According to an X (formerly Twitter) post, Terraform Labs’ Chapter 11 bankruptcy plan is estimated to start “on or around October 30, 2024,” if the plan is approved by the courts on September 30. However, there is a possibility that the plans might change. Reopening the bridge allows users…
Puffpaw, the blockchain-integrated vape pen that claims to “incentivize people to quit smoking and vaping” could in fact keep users hooked and even encourage non-smokers to pick up the habit. This is the opinion of a leading UK-based addiction treatment center. A so-called ‘vape-to-earn‘ project, Puffpaw uploads your ‘puffs’ to the Berachain blockchain and issues tokens when you reduce the amount you use it. However, according to UK Addiction Treatment Centres (UKAT), the product “is not going to help vapers to lower their usage. If anything, it could have the complete opposite effect because of the enticing gamification and crypto…
Bitcoin price showed significant activity in the past day. The cryptocurrency’s daily trading volume surged by 12% according to CMC data. The crypto market has shown a revival in the past few days after the August first weekend market crash. Notably, the overall market cap has increased by 6.50% while the daily trading volume exhibited slight declines. Leading cryptocurrency Bitcoin showed notable surges over the past day as the present positive momentum drove prices to the $60K level. According to CMC data, BTC prices increased by 5.59% over the last 24 hours. Additionally, the token surpassed $61K momentarily during the…
Nearly 200 million XRP have changed hands in the last 10 hours, equivalent to $110.12 million, reports Whale Alert. The mysterious action took place in two acts, as the first 100 million tokens left the wallet of “rP4X2” to “rhWt2.” The next act came 10 hours later, when another 94.33 million XRP, worth approximately $53.66 million, were sent from “rn8om” to “rnTxM.” What do all these addresses have in common? They belong to unknown entities, but whether the owners are connected remains a mystery, as the registration date for each address is significantly different. 🚨 🚨 🚨 94,325,384 #XRP (53,656,730…
Through this strategic partnership, the KALP Decentra Foundation and MantaNetwork intend to transform the implementation of RWA-based smart contracts and asset-backed tokens. This integration will enhance the liquidity, security, and efficiency of digital transactions and facilitate innovation in blockchain technology. 🌊 We’re thrilled to welcome @Kalp_Official to the #MantaNetwork ecosystem!This integration strengthens RWAs on #MantaPacific, offering our community enhanced access to asset-backed tokens. https://t.co/ALKiskC0YS — Manta Network (🔱,🔱) Meme-ta Szn (@MantaNetwork) September 6, 2024 The Kalp Decentra Foundation is a non-profit organization that is working toward the objective of creating an inclusive ecosystem called Kalp. This ecosystem will enable global…
The recent Bitcoin (BTC) plunge below $50,000 triggered an impressive spike in trading activity accompanied by painful 10-digit liquidations. Both futures and spot trading metrics soared to record-breaking numbers. Bitcoin (BTC) hits records amid bloodbath Bitcoin (BTC), the largest cryptocurrency, hit a new all-time-high in futures trading volume during its plunge below $50,000. Such statement was shared by Ki Young Ju, the founder and CEO of on-chain analytical team CryptoQuant, with his 361,000 followers on X. On the day #Bitcoin dropped to $50K, futures trading volume hit an ATH of $154B, and spot trading volume reached $83B, the second-highest ever.…
Some currencies focus on solving instability problems by providing stablecoins. This paper analyzes five significant cryptocurrencies: Tether (USDT), USD Coin (USDC), Staked Ether (stETH), LINK, and UNI. Tether (USDT): The Introduction to the Concept of Stability Considered to be the first stablecoin circulating in the world, Tether (USDT) is a USD-pegged cryptocurrency. Hence, contrary to most cryptocurrencies, the value attached to each USDT token is not subject to market forces. USDT is a fairly common asset used in and around the crypto space as a stable value and a secured medium of exchange without being exposed to undue risks. USD…
Data suggests Bitcoin could be headed for $75K as it surged past the $62,600 mark today, marking an over 25% advancement within just three. This rapid upsurge comes during one of the most volatile weeks the cryptocurrency market has experienced since the FTX collapse two years ago. In particular, Bitcoin plummeted by 20% to the $49K level on Monday but has since recovered significantly. According to data from intelligence platform Santiment, this sharp rise caught many traders off guard. As a result, the analysis urged market participants to anticipate heightened excitement that could drive Bitcoin to the price levels of…
Aave Labs proposed an update to its GHO Stability Module (GSM) on August 26 that includes using shares of BlackRock’s BUIDL tokenized fund to maintain its stablecoin’s peg to the dollar. According to the proposal, the new GSM would allow Aave to exchange users’ USD Coin (USDC) provided to issue its ecosystem-native dollar-backed stablecoin GHO for BUIDL shares. The tokens would be held in a smart contract until the user redeems their GHO for USDC. BUIDL shares have a stable value of $1 per token and pay out monthly returns to their investors. The fund distributes its assets across cash,…