Author: NBTC
Crypto’s growing interest in blockchain-based prediction platforms shifted into high gear Monday, as the Solana-based decentralized exchange Drift Protocol released BET. Short for Bullish on Everything, Drift’s offering is set to compete with Polymarket as a divisive U.S. election season spurs massive amounts of bets on the leading platform. Ramping up to speed, Drift’s product was released in alpha, with users gearing up across two political bets. And those were enough to deliver solid day-one numbers for the newcomer. “In the first 24 hours after Drift’s BET prediction markets launch, we’ve achieved more than $3.5 million total orderbook liquidity,” tweeted…
Satoshi Nakamoto, the most enigmatic figure in the crypto industry, remains unknown. He probably holds 1.1 million BTC, which makes him one of the wealthiest Bitcoin whales. Nakamoto mined the first Bitcoin block in January 2009 and published its whitepaper in October 2008. That whitepaper had Nakamoto’s name; thus, he became the creator of the world’s first blockchain network, Bitcoin. Nakamoto himself wouldn’t have thought that his digital currency might one day have over $1.3 Trillion market cap. Bitcoin flourished, created a whole new asset class, and became the king of digital assets. Although quite volatile, Bitcoin remains one of…
Enjin, an interlinked network on Ethereum for NFT and gaming development tools, has announced an exclusive landmark in Web3 gaming. Enjin has enabled the functionality of Primythical Chest NFT for up to ten games for free, featuring 77 utility forms across the respective games. The platform will additionally carry out additional integrations in this respect in the next weeks. Enjin Launches Multiverse Codex to Enhance Cross-Game NFT Utility in Popular Titles The Primythical Chest NFT focuses on serving in popular titles, taking into account Etherscape, The Six Dragons, and Lost Relics. These titles have been recently getting significant popularity on…
Prosecutors in Seoul, South Korea, have launched an investigation into allegations that a senior police officer accepted bribes in connection with cryptocurrency-related cases. On August 23, the Seoul Southern District Prosecutors’ Office’s Virtual Asset Crimes Joint Investigation Unit, led by Chief Park Geon-wook, raided the Gangnam Police Station as part of an investigation. The investigation focuses on a police officer identified as “A” who is suspected of receiving money and goods in exchange for benefits related to a cryptocurrency case while serving at the Gangnam Police Station. Investigators seized materials from the police station’s investigation department to further investigate the…
Chain abstraction here, chain abstraction there. You’ve probably heard it by now when people talk about “Web3 UX” and other such cool-sounding words and ideas. Well, what the heck is it? Formally, chain abstraction is an emerging concept in blockchain tech that aims to simplify the user experience of interacting with multiple blockchain networks. If you’ve ever wondered how “mass adoption” or, that is to say, the broader adoption of blockchain-based technologies could be spread, chain abstraction is one of the ways to achieve this. At its core, chain abstraction seeks to remove the complexities and manual processes typically required…
The stage looks set for Bitcoin to surpass its previous all-time high, fueled by a surge in global liquidity, several macroeconomic analysts argue. In recent weeks, the global macro financial outlook has been showing signs of a shift. Over the weekend, Goldman Sachs economists announced that they had lowered their estimations of the probability of a U.S. recession in 2025 from 25% to 20%. This change came after the latest U.S. retail sales and jobless claims data were released, which suggested that the U.S. economy might be in better shape than many had feared. The Goldman Sachs analysts added that…
A union representing the National Football League’s athletes sued DraftKings on Monday, accusing the sports gaming giant of reneging payments tied to a “losing bet” on the NFT space. The lawsuit, filed by the National Football League Players Association (NFLPA) in New York federal court, accuses DraftKings of violating the terms of a licensing agreement, which provided DraftKings the rights to use NFL players’ likenesses in its Reignmakers NFT product. DraftKings axed its NFT-powered gaming experience last month, citing “recent legal developments.” The move followed a denial of DraftKings’ motion to dismiss a class action lawsuit filed in Massachusetts federal…
The seven-day moving average of the daily trading volume of the largest altcoin Ethereum (ETH) has fallen by 55% in the last 30 days, The Block reported. Ethereum transaction volume and operations dropped significantly and sharply in August, most recently dropping to a monthly low of 1.07 million daily transactions on the network on Sunday. The seven-day moving average of Ethereum trading volume has fallen from $6.56 billion on July 26 to $2.9 billion today in U.S. dollars. Total monthly trading volume on Ethereum in July was $134.71 billion, while August trading volume is currently down to $91.46 billion. Despite…
Investors with a background in traditional markets are exploring multiple avenues to invest in cryptocurrencies beyond direct exchange purchases. One popular method is investing in MicroStrategy (MSTR) shares, particularly because Michael Saylor has transformed the company into an unofficial Bitcoin (BTC) ETF product. But does this strategy outperform others? Investment Dynamics of MSTR Shares Stock market enthusiasts looking to capitalize on Bitcoin’s growth have been buying MSTR shares since late 2020, prior to any ETF approvals. MicroStrategy’s significant BTC holdings mean that as Bitcoin’s value rises, so does the value of MSTR shares. This approach served investors well, with MSTR…
The latest LUNC burn of 1.7 billion tokens from Binance significantly reduces the Terra Classic supply, aligning with increased trading volume. Binance has completed another significant LUNC (Luna Classic) burn to start in July. The burn event led to a substantial decrease in the total LUNC supply, as highlighted by recent charts posted by community figure Rexyz. @binance completes another epic $LUNC burn to start July. As trading volume increases so do burns.Massive thanks to @cz_binance and @_RichardTeng Support all those burning for you. Together we are stronger. ❤️@_Terraport_ @TerraCasino_io pic.twitter.com/Xn4xFMsCYf — Rexyz (@RexYellerBelly) July 2, 2024 The burn activity…