Author: NBTC
Proposals aimed at overhauling AAVE’s tokenomics and protocol’s risk management have galvanized investor interest in the cryptocurrency, observers said. The so-called Umbrella proposal could ease sell-side pressures for AAVE in the market, said Katie Talati, head of research at Arca. AAVE, the native token of the decentralized crypto lending platform Aave, has rallied over 45% to $135 in four weeks, outperforming every other top 100 cryptocurrencies by market value, including market leaders bitcoin (BTC) and ether (ETH). Such has been the investor bias for AAVE that Helium’s HNT is at a distant second position with a price gain of 26%,…
Kansas City Fed President Jeffrey Schmid, who was appointed as a Fed member about a year ago and is known for his hawkish stance, spoke about interest rate cuts. Speaking to Bloomberg TV at the Jackson Hole Symposium, Schmid said he wanted to see more economic data before supporting any decision to cut interest rates. The FED member, who has stated that more patience is needed for interest rate cuts since his first speech, accepted that inflation is moving in the right direction but argued that the FED should be a little more patient for the cuts. Schmid, who acknowledged…
As Bitcoin hits a two-month low of $57,500, numerous crypto investors are strategically exiting volatile meme coins. The broader market downturn has notably affected these digital assets, known for their speculative nature, leading to significant sell-offs. This week, some of the investors have started booking profits. Yet, they still hold a significant amount of meme coins, awaiting market recovery. Crypto Investors Sold Pepe, Dogwifhat, and MICHI “Dimethyltryptamine.eth,” who owns the wallet address 0x4a2, returned after 10 months of dormancy. According to Spot On Chain, this crypto whale exchanged 10 billion Pepe (PEPE) for $112,000, converting them into 32.73 Ethereum (ETH)…
NEW YORK — Richard Teng ascended to the top of cryptocurrency behemoth Binance last year via less-than-ideal circumstances as his predecessor, Changpeng “CZ” Zhao, was forced to quit the exchange as part of a multi-billion-dollar settlement with the U.S. government. But on the plus side, he inherited a CEO job at a profitable cornerstone of the crypto industry – albeit one he aims to grow and mature. In the nine months since he’s taken the helm, Teng – a former regulator in both his native Singapore and the United Arab Emirates – has focused on transforming Binance from a founder-led…
Crust, the decentralized cloud storage service provider, announces a ground-breaking collaboration with Intract, the learning and earning through the Web3 platform. Through this collaboration, both platforms aim to accelerate community engagement and grow the user base. Crust Network shared the details of partnering with Intract through its social media official account. Crust and Intract Celebrate Partnership by Announcing Rewards Upon Completing Task This partnership is of great significance as both platforms have a mutual goal to boost community engagement. Through the official announcement, they revealed that both firms will celebrate this partnership and give rewards upon the tasks worth $1000…
The bankrupt Mt. Gox Bitcoin exchange transferred 13,265 BTC worth around $784 million on Aug. 21, according to Arkham Intelligence. 12,000 BTC were then directed to a new address, while the remaining 1,265 went into a cold wallet associated with Mt. Gox. It is the first major movement of BTC by the exchange trustee in three weeks. 🛑 Here we go again 👇 Mt. Gox moves 13,265 Bitcoin https://t.co/cNSPM3rOvH pic.twitter.com/uwLfdjaAaD — HODL15Capital 🇺🇸 (@HODL15Capital) August 21, 2024 Bitcoin Price Slides The Mt. Gox address still holds 46,164K BTC worth around $2.74 billion, according to Arkham. In July, the failed exchange…
Decentralized finance is making a comeback, and the total value locked in the crypto market is expected to hit an all-time high next year, the report said. Steno said interest rates are the most important factor in influencing DeFi’s appeal. This year’s expansion in stablecoin supply and the growth in real-world assets are also tailwinds for the DeFi market, the note said. Decentralized finance (DeFi) summer is making a comeback, and while total value locked (TVL) in the crypto ecosystem is still well below its 2021 peak, it could climb to an all-time high as soon as the first half…
Recent rumors swirling on X wrongly accused presidential candidate Kamala Harris’ of endorsing President Biden’s 2025 proposal for a 25% tax that includes unrealized capital gains. What’s the truth behind the headlines and what caused the confusion? Earlier this week, thousands of crypto investors found themselves caught up in a whirlwind of misinformation, with many prominent accounts reporting that U.S. presidential candidate Kamala Harris had endorsed a new tax on unrealized gains, originally proposed by President Joe Biden for 2025. Social media, especially X, buzzed with outrage as people retweeted and reacted to evidently misinterpreted headlines, convinced that Harris wanted…
Michi token’s price plummeted 25%, falling from $0.1971 to $0.1482 in 24 hours. Investor sold 8.6 million Michi tokens for $1.34 million USDC, profiting $1.24 million. Michi trades at $0.1483, down 24.7%, with $22 million volume and $80 million market cap. Michi, a meme-based token on the Solana blockchain, has garnered significant attention in the crypto world, experiencing a 25% price drop from its peak of $0.1971 to $0.1482 in the last 24 hours. Lookonchain, a prominent blockchain analytics platform, pointed out that the recent plunge in Michi’s price was due to an anonymous investor dumped his massive holding. $1.24…
Crypto markets have recently endured turbulent times, with the latest turmoil surrounding Mt Gox barely making a dent due to nearly completed refunds. As issues subside, the market now turns its attention to FTX. The FTX trustee’s efforts to return billions of dollars to creditors could inject significant liquidity into the market, potentially boosting demand for cryptocurrencies like Bitcoin and altcoins. How Will FTX Impact the Market? Despite causing market crashes in 2022, FTX now appears poised to contribute positively. The trustee plans to disburse billions of dollars to investors, and even if a fraction of these refunds is reinvested…