Author: NBTC
The increase in assets under management for Bitcoin (BTC) exchange-traded funds (ETFs) is not only significant in itself, but also creates significant additional demand for the underlying cryptocurrency, Canaccord Genuity, a leading brokerage firm, said in a research report. revealed. Bitcoin ETFs Lead to Increase in Spot Demand, Canaccord Reports During the 2024 Digital Assets Symposium held last Thursday, Canaccord hosted leaders from 29 crypto-related companies to learn about current market dynamics. According to analysts led by Joseph Vafi, it has become increasingly obvious that ETFs not only attract investment but also increase demand for spot BTC. The report only…
Investors were expecting to hear more details today about what led Federal Reserve officials to advance plans to slow the pace of balance sheet reduction even as the central bank keeps its benchmark interest rate steady. Here are the highlights from the minutes of the April 30-May 1 meeting, where interest rates were kept constant: ‘Many’ respondents were uncertain about the degree to which the policy would be restricted. ‘Various’ participants are willing to tighten further if necessary. Respondents assessed that it would take longer than previously anticipated to gain greater confidence that inflation would move sustainably towards 2%. Several…
Bitcoin layer-2 project Stacks (STX) has announced a significant delay in the activation of the much-anticipated Nakamoto update. The delay was due to the need for an additional eight weeks of development time. Mitchell Cuevas, who heads the Stacks Open Internet Foundation, detailed the reasons behind the delay in a recent blog post. Cuevas explained that, armed with more knowledge and practical experience with the features of the new network, the core developers determined that they needed a more advanced Signer resiliency/recovery system. This was something originally planned for a later release. As a result, they anticipate an additional eight…
At a fireside chat Thursday, Ethereum founder Vitalik Buterin completely ignored a question asking if he cared about the prospect of spot ETH exchange-traded funds (ETF) being approved in the United States. But he did weigh in on a secondary question on privacy, specifically in regards to the recent sentencing of an Ethereum protocol developer. The crypto figurehead said that Tornado Cash developer Alexey Pertsev being sentenced to 64-months in prison was “really unfortunate,” and continued to back privacy-centric crypto tools, encouraging people to develop “next-gen” solutions. “The Alexei thing is definitely really unfortunate,” Buterin said at DappCon in Berlin.…
KuCoin ‘disqualified’ and delisted Acala Network’s token, aUSD. Acala Network witnessed a misconfiguration which led to error minting of aUSD in 2022. Crypto exchange Kucoin delisted the dormant stablecoin of Acala Network — aUSD — and has initiated the launch of an “acquirement plan” to compensate token holders’ loss. Previously, in August 2022, the Acala incident — an erroneous minting of 3 billion aUSD tokens in its liquidity pool — occurred. Following it, KuCoin ceased deposits and withdrawals of aUSD. Then, it isolated the asset into the ‘Special treatment’ category and initiated an investigation into the error mints. Furthermore, in…
Enjin Blockchain has lived up to its pledge to positively impact Web3 by delivering its landmark feature, Quick Wallet. The Quick Wallets allow users to obtain a deserving Enjin beam without installing the Enjin wallet. It comes at no cost whatsoever. Inside the Enjin ecosystem, Quick Wallet increases the user base connecting with Web3 in the form of never having utilized Enjin wallets or ventured within the conventional Web2 space. Millions of people could join the Enjin Ecosystem thanks to this significant feature. Quick Wallet significantly lowers the barriers to NFT claims, facilitating newcomers’ admission into the ecosystem and increasing…
On April 19, or whenever a bitcoin miner mines block number 840,000, the amount of bitcoin (BTC) entering into circulation will halve from about 900 a day to 450. This event, colloquially known as the halving (sometimes halvening), looms large in the Bitcoin mindshare, one of those things that makes Bitcoin Bitcoin. Perhaps because it only comes around on Leap Years (so far), bitcoiners tend to look forward to the halving more than most crypto holidays like Bitcoin Pizza Day or the anniversary of Satoshi Nakamoto publishing the white paper. But it won’t be around forever. This roundup is part…
Ethereum co-founder’s transfer draw attention amidst price surges. The SEC’s statement on spot ETH ETF approval is scheduled for today. Jeffery Wilcke, co-founder of Ethereum, deposited 10K Ether (ETH) into the Kraken Exchange during the Asian morning hours on Thursday. Wilcke has made multiple deposits of ETH since the beginning of 2024, drawing significant attention from the crypto community. The SEC deadline for the decisive update on spot Ethereum ETF approval is scheduled for today. Amid this, Ethereum’s price had witnessed significant upsurges, fueled by the anticipation. Moreover, several Ethereum whales have shown intriguing strategies with mounting transactions this week.…
Metaplanet Inc.—known as “Japan’s MicroStrategy” on Crypto Twitter—has outperformed every other company on the Japanese stock market since the start of the week. Over the past two days, shares of Metaplanet have risen 50% in value, moving from 41 JPY at Monday’s close to 90 JPY as of Wednesday. That’s two consecutive trading sessions of Metaplanet reaching its maximum daily gains, as enforced by the Tokyo Stock Exchange (TSE). Following in the footsteps of MicroStrategy (MSTR), the world’s largest corporate holder of Bitcoin, Metaplanet’s new primary corporate objective is to accumulate as much Bitcoin as possible. “We believe this to…
Market intelligence platform Kaiko Analytics reports that new competitors are chipping away at Tether’s (USDT) stablecoin dominance. In a new report titled “Tether Loses Market Share,” Kaiko Analytics says that the stablecoin issuer’s market share over centralized exchange platforms (CEXs) has dipped 13% year-to-date (YTD) due to the growth of rival dollar-pegged digital assets, such as FDUSD and USDC. “Despite its dominant market position, USDT’s market share on CEXs has been trending downwards, declining from 82% to 69% YTD. This decrease can be partly attributed to growing competition from stablecoins like FDUSD which benefit from Binance’s zero-fee promotions. USDC has…