Author: NBTC

Key Points: BitMEX co-founder Arthur Hayes is now a strategic advisor at Covalent, focusing on the Ethereum Wayback Machine. The Ethereum Wayback Machine aims to store and re-execute temporary blob data, ensuring long-term availability and secure preservation of Ethereum’s historical records. This initiative supports decentralized AI by providing accurate historical data and promoting innovation and transparency in the blockchain community. Arthur Hayes recently announced that he is serving as a strategic advisor at Covalent, helping develop an Ethereum Wayback Machine. This machine will serve as an off-chain blockchain storage system, allowing the re-execution of its temporary Blob data. This initiative…

On-chain data from analytics firm CryptoQuant showed that more than 50% of Bitcoin supply is inactive. BTC Holders Continue to Hold Their Bitcoins This means that the Bitcoins in question have not been moved or exchanged in the tracked wallets, which is a sign of strong long-term belief among holders. This data supports the idea that Bitcoin may see further price gains due to unwavering belief in its future value. Mt. Gox hack and the DMM hack last week, sentiment around Bitcoin remains bullish. Singapore-based QCP Capital noted that there was an increase in trading activities and an optimistic outlook…

The cryptocurrency market is poised for a significant turnaround, which could drive Ethereum (ETH) and altcoins to previous all-time highs. The shift happened as June 12’s U.S. Consumer Price Index (CPI) data came in lower than expected. According to Michaël van de Poppe, CIO & Founder of MN Trading Consultancy, this could be a “massive sign” for altcoins and Bitcoin (BTC). Notably, the professional trader highlighted finance data as a leading indicator for this bullish stance in a post on X. “The Dollar and Treasury Yields are dropping significantly as the markets are expecting rate cuts to be happening.” —…

Cryptocurrency prices wavered Wednesday as investors parsed commentary from the Federal Reserve that provided new insight into the U.S. central bank’s fight against inflation. Policymakers’ move to leave interest rates unchanged for an 11th consecutive month was a foregone conclusion, based on movements in Fed futures markets. At its most restrictive position in over 20 years, the Fed kept its benchmark borrowing rate at a range between 5.25% and 5.50%. This month’s release of a so-called “dot plot,” however, suggested shot callers at the U.S. central bank have seen a notable shift in financial conditions since March. The Fed in…

In a significant development for the blockchain and gaming industry, Xterio has announced the launch of its XterETH Chain on the Superchain network, powered by the Optimism Collective. This move represents a crucial milestone as Xterio builds on the OP Stack and integrates into the Superchain, a rapidly expanding network of chains utilizing Optimism’s open-source standard codebase. XterETH Chain is live on the Superchain by the @Optimism Collective!Building on the OP Stack and joining the Superchain, a growing network of chains built on Optimism’s open-source standard codebase, marks a significant milestone for us at Xterio,» Scaling Web3 GamingXterio’s… pic.twitter.com/BSAFizi0ge —…

The SEC recent approval of ETH ETFs might eventually prove a more important event for Ethereum than it was for Bitcoin. Bitcoin’s dominance, niche, and value proposition as a store of value are well-established and unlikely to be challenged in the near term. Ethereum, however, faces far stiffer competition, sometimes struggling to distinguish itself among narratives of smart contract platforms — until recently.Now we know there are two major crypto assets likely not at risk of being called securities by U.S. regulators. This might not mean much for retail investors, especially outside the U.S., but clearing up the regulatory uncertainty…

Today, enjoy the On the Margin newsletter on Blockworks.co. Tomorrow, get the news delivered directly to your inbox. Subscribe to the On the Margin newsletter. Welcome to the On the Margin Newsletter, brought to you by Ben Stack, Casey Wagner and Felix Jauvin. Here’s what we unpack today: The Fed just shared its rate decision, and more importantly, its end-of-year projections. Let’s dive into what this means and how markets are reacting. Planned spot ETH ETFs saw some movement, but then things seemed to stall. In case you lost track, here’s where we stand. Bitcoin miner Core Scientific re-listed earlier…

Pyth Network, a real-time market data platform, has announced the launch of Pyth Price Feeds on IOTA (MIOTA), as per the most recent updates shared with Finbold on June 12. The launch marks a significant step forward in Pyth Network’s mission to bring real-world asset (RWA) and crypto asset price data on-chain. Real-time data for developers As a fully Ethereum Virtual Machine (EVM)-compatible Layer-2 solution for the IOTA network, IOTA EVM offers a scalable, fee-less, and permissionless distributed ledger for secure financial exchanges. With the new integration, smart contract developers on IOTA can now access over 500 real-time price feeds…

Ark Labs has been established to respond to the need for scalable, low-cost bitcoin payments. Ark’s creator Burak Keceli has moved on to other things, but the protocol and now Ark Labs is continuing to pursue the goal of building on and enhancing what Lightning has brought to Bitcoin. The team behind Bitcoin layer-2 protocol Ark has formed a new company that will build a faster, cheaper payments system on the world’s largest blockchain, aiming to create a better venue than Lightning Network. The new firm, Ark Labs, was established to respond to the need for scalable, low-cost bitcoin payments,…

Ethereum was gaining traction on the market, but that severe and continuous consolidation that led to essentially nothing and just dragged ETH to around $3,800 was a crucial signal that was a hint at the future performance of the asset. The price action of ETH has taken many traders by surprise despite its earlier strong momentum. Ethereum went through a phase of consolidation after encountering resistance at roughly $3,800. This sideways movement, which frequently portends market indecision here, portended the most recent decline that we have seen. Ethereum experienced a significant decline in the last few days, reaching levels close…