Author: NBTC
Cyber Capital founder and CIO, Justin Bons recently voiced skepticism over the viability of Ethereum’s Layer-2 (L2) scaling solutions, arguing that the UX compromises are too steep a price to pay. He also highlighted the millions of dollars lost in bridge exploits as a critical vulnerability within Ethereum’s L2 infrastructure. Ethereum’s “L2 scaling” UX trade-offs are undefendable: pic.twitter.com/xq52tLH5ck — Justin Bons (@Justin_Bons) May 26, 2024 While Ethereum has turned to sharding as a potential solution to its scalability limitations, Bons contended that this approach has led to a fragmented ecosystem that poses significant challenges. A user commented that the likelihood…
Circle Internet Financial’s stablecoin, USDC, has surpassed Tether’s USDT as the market leader in transaction volume this year, according to data compiled by Visa Inc. in partnership with Allium Labs. The adjusted stablecoin metric, which aims to reflect the state of the stablecoin market while minimizing potential distortions from inorganic activity and artificial inflationary practices, shows USDC’s growing market share since the start of 2024. Last week, USDC recorded $456 billion in transaction volume compared to $89 billion for USDT, with USDC accounting for 50% of total transactions since January. This finding challenges the common perception that USDT is the…
Expansion allows Bitfarms to manage 528 MW, leveraging existing infrastructure to reduce costs per megawatt. Amidst expansion, former CEO Geoffrey Morphy sues Bitfarms for $27 million over alleged contractual breaches. Despite regulatory uncertainties in Paraguay, Bitfarms, a Bitcoin mining company listed on both Nasdaq and the Toronto Stock Exchange, has successfully secured an additional 100 megawatts (MW) of electricity from Paraguay’s state-owned power company, Administración Nacional de Electricidad (ANDE). This development comes as lawmakers in Paraguay deliberate on potentially banning mining activities related to the cryptocurrency. Bitfarms announced on its official website that this new allocation of power would double…
With visible panic on social media after yesterday’s $900 million liquidation across the crypto market, Edward Snowden remains unfazed. The overall crypto market cap has fallen by nearly 5% since yesterday, and the meme coin market has fallen by 13%. Bitcoin dropped to $65,000, with daily trading volume soaring to 60%, indicating a wider sell-off from investors. Bitcoin ETFs also saw a net outflow of $55 million yesterday. However, Snowden — a computer intelligence consultant and whistleblower famous for leaking classified information from the National Security Agency — took to social media to dismiss this panic. In a short tweet,…
Lista DAO, a permissionless, simple, and secure platform for stablecoins lending and liquid staking solutions, has commenced a new collaboration. According to the firm, as a part of the latest partnership, Lista DAO is introducing partnership with Stakestone (a cutting-edge Liquid Staking Token platform). The company provided the details of this initiative in a comprehensive blog post. Lista DAO and Stakestone Join Forces to Revolutionize the DeFi Sector Along with expressing its enthusiasm concerning the collaboration, the platform labeled it as a chief move forward. As per it, this development will potentially make a significant contribution to fulfilling its commitment.…
Ether (ETH), the native token of the Ethereum blockchain, the second-largest cryptocurrency by market capitalization, is experiencing a significant rally, with its price surging close to the $4,000 mark. The bullish momentum has been fueled by technical factors, regulatory developments, and increased institutional interest in cryptocurrency. Why Ethereum is Rallying The recent price surge can be attributed to several key factors. Technically, Ethereum has broken out from a falling wedge pattern, signaling a bullish reversal and the potential for further price increases. The cryptocurrency has also flipped key resistance areas into support, reinforcing the bullish trend. On the regulatory front,…
Nomura Holdings, Inc., a global financial services group, and its digital asset subsidiary, Laser Digital Holdings AG, have announced a strategic partnership with GMO Internet Group, Inc. to explore the issuance of Japanese yen (JPY) and US dollar (USD) stablecoins in Japan. This collaboration aims to leverage each company’s experience to provide a secure stablecoin solution for the Japanese market. GMO Internet Group, through its US subsidiary GMO-Z.com Trust Company, Inc., has a proven track record in issuing stablecoins on major blockchains such as Ethereum, Stellar, and Solana. The company operates a digital currency management system supporting multiple technological platforms…
In a groundbreaking development within the realm of decentralized finance (DeFi), Mantle Network (MNT) users have earned a staggering $1.19 million in Ethena (ENA) rewards. This monumental achievement underscores the burgeoning potential of decentralized technologies and their capacity to generate substantial returns for participants. The news broke via a tweet from Lookonchain, a prominent analytics platform in the blockchain space, heralding the success of eight users who staked over 1 million MNT tokens in the Mantle Reward Station. In return for their commitment, these users received a collective sum of 1.42 million ENA tokens, equating to an impressive average Annual…
The Bitcoin network and its community of users is sprawling and diverse. Fans of the top cryptocurrency can participate beyond mining or inscribing dog pictures or video games by setting up a Bitcoin node, which are essential infrastructure to keep the OG blockchain decentralized and running. What is a Bitcoin Node? While all Bitcoin miners are nodes, not all nodes are miners. A Bitcoin node validates transactions and can run on any computer with the capacity to store a copy of the full Bitcoin blockchain. Currently the Bitcoin ledger weighs in at about 500 GB. A miner, on the other…
Anodos, an XRPL-based Web3 protocol, is looking to introduce institutional DeFi to the growing XRP Ledger ecosystem. Introduced in 2012, the XRP Ledger has not advanced in infrastructure as much as its major competitors, such as Ethereum and Stellar, despite these chains launching years later. For instance, the Stellar network welcomed smart contracts capabilities in February. Meanwhile, the XRPL is yet to implement Hooks on the mainnet. Anodos’ Paridim to Introduce Institutional DeFi on the XRPL Additionally, institutional DeFi on the XRPL remains an untapped territory. Anodos, a Web3 utility resource built atop the XRP Ledger, is looking to explore…