Author: NBTC

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,…

Marlin announces a strategic partnership with U2DPN to enhance the security, scalability and user experience. This strategic partnership combines the advanced technologies of two leading FinTech firms to revolutionize the security and scalability of decentralized finance (DeFi). Marlin is excited to announce a strategic partnership with @u2_dpn, a pioneering decentralized VPN project built on the Subnet Technology of U2U Chain. This collaboration aims to leverage Marlin’s cutting-edge verifiable computing technology to enhance U2DPN’s security,… pic.twitter.com/zWDCCJC9QG — Marlin (@MarlinProtocol) September 6, 2024 Marlin shared this exciting news with its community via X post. As per the details, U2DPN will leverage the…

Dogecoin creator Billy Markus, who goes by the name “Shibetoshi Nakamoto” on X, has made an unexpected Bitcoin price prediction that has caught the attention of the crypto community. In a tweet reacting to a recent 2050 Bitcoin price prediction from VanEck, a prominent asset investment management firm, the Dogecoin co-creator offered his prediction. Markus posted a screenshot of a tweet that shared VanEck’s 2050 price prediction for Bitcoin: $130,314 as the worst case, a base case price of $2,910,345 and $52,386,207 as the best case scenario for the Bitcoin price. wow how fascinating here’s my 2050 price prediction worst…

NFT marketplace Magic Eden sparked controversy on Friday after deciding to split its domains between the US and other global regions. This move has raised concerns among US users about how these changes might affect them. Meanwhile, the NFT sector continues to struggle, with failure rates on the rise. A recent report revealed that 96% of NFT projects have failed, highlighting the challenges the industry faces. Magic Eden’s Domain Restructuring Stirs Concerns The Solana-based NFT marketplace Magic Eden announced a domain restructuring in a recent post on X (formerly Twitter), outlining a split between US and international users. Beginning in…

The price of DOGS, a newly launched meme-inspired cryptocurrency on the TON blockchain, has literally skyrocketed today amid a general crypto market slump. DOGS saw a 38% jump from as low as $0.0012 to as high as $0.00167 in a matter of just three hours. As a result of such quick price appreciation, the new player in the dog-themed meme coin arena almost reached its Binance listing price at $0.0018. For now, DOGS commands a figure of $803 million in market cap and $1.56 billion in daily volume. This makes it the 75th and 9th biggest cryptocurrency in these metrics,…

After a dip in August, the first week of September didn’t bring much sunshine to the world of non-fungible tokens (NFTs). Sales slid by 7.69% over the seven-day period. The total number of NFT transactions was just over 1 million, which is a notable 36.93% drop from the previous week. September NFT Sales Struggle With 7.69% Drop According to cryptoslam.io, sales took a 7.69% step back this week, clocking in at $82.31 million. Ethereum NFTs saw sales of $30.92 million, just 0.92% less than the week before. Solana wasn’t as lucky, with $14.23 million in sales—a sharp 25.16% decline—but it…

The Stabila Foundation has launched a new initiative to boost stablecoin adoption within the Celo ecosystem, aiming to drive real-world use cases for the network. The Celo (CELO) blockchain ecosystem has welcomed a new foundation focused on increasing the adoption and use of stablecoins within its network. The Stabila Foundation, funded by the Celo community, aims to enhance the ecosystem’s financial stability by promoting the real-world utility of stablecoins, particularly in emerging markets such as Africa, Latin America, and Southeast Asia, according to an Aug. 28 press release shared with crypto.news. “We aim to achieve these goals by collaborating closely…

As bitcoin dipped below $55K this week, something quite interesting happened behind the scenes. On Sept. 7, 2024, the network’s computational power hit a new lifetime high. The seven-day simple moving average (SMA) for Bitcoin’s total hashrate climbed to 679 exahash per second (EH/s) on Saturday, a slight bump of 2 EH/s over the previous record set on July 25. Bitcoin’s Hashrate Soars to 679 EH/s According to Luxor’s hashrateindex.com, Bitcoin’s total hashrate hit an all-time high on Saturday, as seen in the seven-day simple moving average (SMA). At 12 p.m. EDT on Sept. 7, the hashrate clocked in at…