Author: NBTC
As the crypto market experiences a downturn, crypto investors feel the heat, particularly those holding Algorand (ALGO), Gary Gensler’s praised project. Data from the analytics platform IntoTheBlock shows that 89% of ALGO holders are at a loss. These investors are “out of the money,” meaning the overwhelming majority of ALGO investors hold the asset below the price they first bought them. ALGO trades at $0.1818 at press time, with a 5% gain in the last 24 hours. At this market value, only 8% of Algorand holders are profitable. In parallel, 3% are at break even, neither bearish making profit or…
Bybit, one of the world’s top three crypto exchanges by trading volume, has reached a monumental milestone, surpassing 30 million registered users globally, as per the information shared with Finbold on May 21. This achievement comes during a period of exceptional Web3 growth, solidifying Bybit’s position as a leader in the blockchain industry. Bybit’s market share surge Bybit’s market share in spot trading has surged from 2% in 2023 to an impressive 9.3% in 2024, a nearly 400% increase according to the latest Kaiko Research quarterly report. This leap from the previous year’s 7.3% underscores Bybit’s dominance in the cryptocurrency…
Pavel Durov, founder of the popular messaging application Telegram, made statements about the cryptocurrency market. In an interview with Tucker Carlson, Pavel Durov argued that increased government surveillance will force the creation of secure communication devices inspired by cryptocurrency hardware wallets. At this point, Durov thinks governments and government agencies will push for secure communication hardware devices and innovations in the crypto space. “The world is becoming less tolerant. Governments are becoming less tolerant about privacy. At this point, I believe increased scrutiny from governments will push hardware devices and related innovations dedicated to secure communications, much like we have…
RippleX, the development arm of Ripple, has introduced a significant enhancement to the XRP Ledger (XRPL) aimed at enhancing adoption and usability. Senior Software Engineer at RippleX Mayukha Vadari revealed the release of a new specification, XLS-68d, designed to simplify transaction processes. The focal point of this development is the introduction of sponsored transaction fees and reserves. This feature enables platforms to handle transaction fees and account reserves on behalf of their users, thereby streamlining the user experience and reducing barriers to entry for new participants. The proposal acknowledges the growing complexity of blockchain technology and aims to address it…
Alchemy Pay, a renowned crypto-fiat payment provider, has revealed plans to launch a Web3 Digital Bank. Alchemy Pay Set to Launch Web3 Digital Banking Solution for Enterprises https://t.co/G22k82rVZj — Stock Market News (@Stock_Market_Pr) May 21, 2024 Global enterprises can leverage this initiative to open and run many accounts, manage cash flows, and facilitate smooth fiat-crypto conversion. The compliant firm remains well-suited to offer regulated digital banking solutions to Web3 firms. The banking solutions and fiat-crypto integration will allow individuals to convert fiat to crypto (or vice versa) using one bank account. Alchemy Pay has been in the crypto payments sector…
Vet, a validator on the XRP Ledger (XRPL), has shut down rumors about Elon Musk’s X social media network testing XRP payments. The rumor was based on the fact that a transaction with the “Musk” label was recently spotted on the network. However, as noted by Vet, there is no authorization needed from the famous entrepreneur for labeling this account. “I can label my account to be by Musk or JPM as well. No proof needed,” he added. X is actually expected to launch peer-to-peer payments this year. However, it is not clear whether Musk’s social network will actually support…
Today, the crypto exchange Bitfinex announced the listing of the PORTAL token, from the eponymous Web3 gaming platform. This Bitfinex #TokenTuesday welcomes $PORTAL!@Portalcoin allows gamers to move between games with a transferable asset 🎮Connecting games and gamers to form an ecosystem in #Web3 gaming!Discover more:https://t.co/HB4tPvGKg7 pic.twitter.com/wzOUh19pI5 — Bitfinex (@bitfinex) May 21, 2024 It is the native token of the homonymous multi-chain system and web3 gaming platform. Web3: Bitfinex lists the crypto PORTAL The game Portal Bitfinex and the listing of the crypto Web3 PORTAL The Web3 gaming Web3: Bitfinex lists the crypto PORTAL The token Portal landed on the crypto…
After April, which was not a good month for the Bitcoin and cryptocurrency world, new data continues to arrive for this month. Finally, data was shared on which cryptocurrency projects corporate companies invested the most in April. According to data, cryptocurrency venture capital firms publicly invested in 161 projects in April. The amount of investment made in these projects in April was 1.02 billion dollars. The biggest financing among the projects was Monad, which managed to raise 225 million dollars by organizing an investment tour led by Paradigm. Then comes the Berachain project, which organized a Series B financing round…
May 21 (Reuters) – Trading app Robinhood Markets (HOOD.O, opens new tab is lowering the rate of interest it charges on its margin loans, it said on Tuesday, to encourage more customers to avail this facility that allows them to borrow against securities they hold. WHY IT’S IMPORTANT The company has rolled out a series of features recently as it looks to grow into a full-fledged broker and meet the demands of retail investors for sophisticated products. The renewed structure could increase its popularity among such investors, who have often used Robinhood for their social media-fueled campaigns against Wall Street.…
Bitcoin-powered layer-one blockchain Core Chain is now letting investors stake their BTC—something that, historically, BTC holders haven’t been able to do. Staking tokens reward users with a percentage yield—often in the single digits—over a period of time. This has notoriously been exclusive to proof-of-stake blockchains. Traders on Bitcoin, which uses proof-of-work, haven’t been able to stake their tokens. But Core Chain now allows BTC holders to earn yield by participating in Core Chain’s consensus mechanism, called Satoshi Plus, which combines Delegated Proof of Work (DPoW) and Delegated Proof of Stake (DPoS). Enabling users to stake BTC is the next step…