Author: NBTC
Stablecoins surpassed $846 billion in on-chain trading volume, according to on-chain data platform IntoTheBlock. Despite a 30% drop in monthly trading volume and the total stablecoin supply remaining $20 billion below its peak, the market demonstrates robust activity. Additionally, IntoTheBlock’s “On-chain Insights” newsletter highlights that stablecoins are increasingly recognized for their potential to cut the hefty fees of international remittance, mentioning a Coinbase study that underscored how Americans pay nearly $12 billion annually to send money abroad. Stablecoins on-chain monthly trading volume. Image: IntoTheBlock The newsletter also pointed out PayPal’s PyUSD emerging as a key player, with a market cap…
Layer-1 blockchains are foundational networks supporting various applications directly on their protocol, while Layer-2 blockchains operate atop these foundational layers, enhancing scalability and efficiency. Comparing the usage and efficiency of EVM-compatible L1 and L2 blockchains and side chains helps us better understand the market values and where most of the DeFi activity comes from. Dune Analytics data analyzed by CryptoSlate showed Polygon, a Layer-2 sidechain, was the leading figure in the DeFi ecosystem, closely followed by BNB Chain, an EVM-compatible Layer-1 blockchain. One of the most important metrics when analyzing L1s and L2s is the daily gas usage—the computational effort…
Amid stark warnings of an ‘everything crash’ and recommendations for safe-haven assets, an influential investor and famous author of the best-selling personal finance book ‘Rich Dad Poor Dad,’ Robert Kiyosaki agrees with one extremely bullish Bitcoin (BTC) forecast. Specifically, he has recently shared the prognosis by Cathie Wood, the founder and CEO of ARK Invest, which manages several exchange-traded funds (ETFs), who previously said that Bitcoin could hit a staggering $2.3 million per wholecoin, with which Kiyosaki has agreed in an X post he shared on April 11. Indeed, this prognosis happens to be a lot more bullish than Kiyosaki’s…
StorageHub, a Polkadot parachain, is joining the decentralized data storage revolution, promoting efficiency and network accessibility through decentralized storage solutions. The network would be designed to serve as a public goods parachain, prioritizing larger data sets and file-based storage while upholding decentralization principles. Web3 Foundation, developers of Polkadot, said: “The essence of StorageHub lies in its ability to offer an efficient, decentralized storage option for web3 applications, enabling the storage of large files and data sets without compromising on decentralization principles.” StorageHub development The network would be designed to seamlessly integrate with all Polkadot and Kusama parachains while enabling interoperability…
As revealed thanks to data from Whale Alert, an unknown whale sent 4,535 BTC, equivalent to $322.14 million, to the largest crypto exchange in the United States, Coinbase, today. What adds even more color to this transfer is that it was made on Coinbase Institutional. That is Coinbase’s business and financial institutions division, providing them with a full range of services for storing, buying and selling digital assets. What is known about the sender? The address “147t6” is a relatively new player on the crypto scene. The first transactions with this address date back only two days earlier, when they…
Fintech giant Ripple has emerged as a key player on the dynamic landscape of digital finance, particularly in the realm of blockchain-based payment solutions. In a recent response to tweets, Ripple CTO David Schwartz explained the company’s sharpened focus on business payments, indicating a key strategic move. It all started with a conversation on X/Twitter about the upcoming Ripple stablecoin and its implications for the XRP utility. An X user claimed that Ripple did not devote many resources to marketing the XRPL’s capabilities and expanding its usage but rather built its proprietary software for payments. Schwartz explained why, stating that…
Bitcoin has rocketed into 2024, adding a eye-watering 70% since the beginning of the year despite fears swirling of a “raging firesale.” Subscribe now to Forbes’ CryptoAsset & Blockchain Advisor and “uncover blockchain blockbusters poised for 1,000% plus gains” ahead of bitcoin’s looming halving earthquake! The bitcoin price has topped $70,000 per bitcoin, pushing the wider crypto market back toward its peak of $3 trillion that XRP developer Ripple’s chief executive Brad Garlinghouse thinks could double this year. Now, as bitcoin hurtles toward its next halving supply cut, a leak has revealed China could be poised to permit people to…
Between Ordinals, Runes, BitVM, and a resurgent developer ecosystem, the modern era of crypto is marked by a return to its first and largest blockchain: Bitcoin. The hype around Bitcoin layer 2s, rollups, and similar projects is a recent development, but some initiatives have been building on Bitcoin for years. One of those is Stacks, whose native token STX is up 70% in the past 3 months and is now a top-30 crypto by market capitalization. On April 16, Stacks is due for its long-awaited “Nakamoto” upgrade, just in time for the Bitcoin halving. “Stacks is currently the best L2…
Wormhole’s W token, which enables governance on the interoperability protocol, jumped 20% in the last hour. Wormhole launched today its native W token on Ethereum Virtual Machine-compatible blockchains, such as Ethereum, Arbitrum, Optimism, and Base, according to a blog post. This development is facilitated by Wormhole Native Token Transfers (NTT), allowing users to transfer W tokens across these different chains, on top of Solana. The recent launch marks the completion of the second phase of the W token’s rollout plan, setting the stage for the introduction of MultiGov, a multichain governance system built around W staking for voting power. Moreover,…
A widely followed crypto analyst believes one key factor could signal Bitcoin (BTC) is heading to six figures. In a new strategy session, Nicholas Merten, the host of DataDash, tells his 509,000 YouTube subscribers that if inflows of Bitcoin exchange-traded funds (ETFs) remain around 20,000 BTC per week the crypto king could soar beyond $100,000. “I want to make clear here that for me personally seeing those tens of thousands of Bitcoin being purchased on a weekly basis to the ETF would be a huge cue that we’re ready for a broader upward move, that we’re ready for six figures,…