Author: NBTC

In the event of negative funding rates, Ethena’s current reserve fund would only be sustainable if USDe’s market cap was below $4 billion. Ethena generates a yield through a tokenized “cash and carry trade.” CryptoQuant says Ethena would need to maintain a keep rate above 32% in the event of a bear market. USDe holders should monitor the project’s reserve fund to avoid risks related to the potential of a negative funding rate, according to data provider CryptoQuant. Ethena Labs, the firm behind the USDe stablecoin, currently offers an annual yield of 17.2%, a rolling average over the past seven…

The Bitstamp acquisition expands Robinhood’s global reach, the report said. The investment bank said the deal also increases the trading platform’s institutional exposure. Architect Partners said the price paid for the acquisition was reasonable. Crypto is becoming an increasingly important part of Robinhood’s (HOOD) business and, despite receiving a Wells Notice from the U.S. Securities and Exchange Commission (SEC) last month, the trading platform continues to expand its digital assets business, investment bank Architect Partners said in a Friday report. The expansion is evidenced by the recent agreement to buy crypto exchange Bitstamp, the bank said. Architect notes that crypto…

JPMorgan highlighted in a recent research report that Bitcoin (BTC) mining companies with attractive energy contracts could make interesting acquisition targets. This comes at a time when hyperscalers and artificial intelligence (AI) companies are exploring different alternatives to secure their energy needs. The mining industry is witnessing a surge in mergers and acquisitions, especially after the Bitcoin halving. Shares of Core Scientific (CORZ) rose on Tuesday after cloud computing firm CoreWeave signed a 200-megawatt (MW) AI deal with Bitcoin mining. CoreWeave has also reportedly made an all-cash offer to acquire the company. In another development, Riot Platforms (RIOT), another major…

Ethereum (ETH) continues to showcase its volatility and potential for strategic trading. As of June 10, 2024, ethereum’s price stands at $3,677, reflecting a daily range of $3,654 to $3,714. Ethereum Ethereum’s 1-hour chart reveals short-term volatility, with ether’s price testing lower levels around $3,642 and struggling to maintain above $3,700. Key support is identified at $3,642, while resistance is around $3,722. Increased volume on the drop to $3,642 suggests this level may hold as a potential support, indicating buyer interest. ETH/USD daily chart. On the 4-hour chart, ethereum exhibits a downtrend with a significant decline to $3,570, followed by…

EigenLayer and its more than $12 billion in total value locked (TVL) went to mainnet last week, bringing the protocol’s vision for a restaking ecosystem on Ethereum a step closer to reality. Building an entire ecosystem atop Ethereum could be lucrative — a16z general partner Ali Yahya said EigenLayer has “the potential to change everything” — but it also could come with hard-to-predict risks. EigenLayer’s mainnet launch came with slashing and in-protocol payments disabled, and the protocol pledged to let the marketplace “develop and stabilize” before removing the training wheels. Read more: Restaking protocol EigenLayer heads to Ethereum mainnet In…

Fireblocks is extending its MPC protection to customers of Coinbase International Exchange. The partnership protects the exchange’s operations, such as withdrawals and deposits, using Fireblocks’ governance and policy rules. Cryptocurrency custody firm Fireblocks is working with Coinbase International Exchange, the non-U.S. arm of the trading business providing perpetual futures and spot trading features for institutional and retail clients in eligible jurisdictions, the companies said on Monday. Fireblocks customers can now connect to their Coinbase International Exchange account and protect exchange operations, such as withdrawals and deposits, with Fireblocks’ governance and policy rules, according to a statement. Coinbase International Exchange received…

Options trading desks saw heavy buying activity for BTC calls with June expiry. BTC “ready to squeeze higher” with some $1.5 billion worth of shorts concentrated around the $72,000 that can be liquidated, Matrixport noted. Bitcoin (BTC) options traders are increasingly positioning for the asset to hit fresh record prices this month, market data suggests. “Our desk saw strong bullish follow-through with significant call buying for June expiries, indicating positioning in the options market for a decisive break of 74,000 all-time-highs this month,” digital asset hedge fund QCP said in a Wednesday market update. Options are derivative contracts that give…

Large Ethereum holders saw a net inflow of 267,000 ETH, the highest since March, reflecting sustained interest despite market fluctuations. Large holders of Ethereum (ETH) recorded a significant net inflow of 267,000 ETH on Thursday, marking the highest daily accumulation since March, according to data from the market intelligence platform IntoTheBlock. This inflow proves the sustained interest and activity among significant ETH investors despite the crypto market’s fluctuations. On Thursday, large ETH holders recorded a net inflow of 267k $ETH, marking the highest daily accumulation since March. pic.twitter.com/uBBhRpCxRz — IntoTheBlock (@intotheblock) June 10, 2024 Three-Month Netflow and Price Dynamics The…

Shiba Inu lead developer Shytoshi Kusama discusses the role of layer-2 network Shibarium in enhancing media content security with CDSA. Shiba Inu recently entered into a strategic partnership with the Content Delivery and Security Association (CDSA). This collaboration, announced on April 11, aligns Shiba Inu with leading industry giants such as Apple, Amazon, and Netflix, all dedicated members of CDSA. The primary aim of this alliance is to harness Shibarium, the Shiba Inu ecosystem layer-2 blockchain platform, to enhance the authenticity, security, and protection of content across the media and entertainment sectors. In-Depth Insights from Shiba Inu Lead Most recently,…

Binance Thailand is set to list Luna Classic (LUNC) on June 11th, 2024, at 2:00 PM Bangkok time (9:00 AM EST), according to crypto influencer Mr. Diamondhandz1. This listing coincides with a special event for the LUNC community. UPDATE: #Binance Thai will list $LUNC on June 11th, 2024 at 14:00 GMT+7 ( 9 AM EST), and announces a special event ONLY for the #LUNC community. This comes one day before the SEC, TFL settlement is announced on June 12th and also the FOMC meeting. 😉💎🤲🏻 #Crypto #LunaClassic pic.twitter.com/hNvd5L6lYa — Mr. Diamondhandz1💎 (@MrDiamondhandz1) June 9, 2024 The listing comes just a…