Author: NBTC
According to analytics firm TRM Labs, the Tron blockchain is responsible for a whopping 45% of illegal cryptocurrency transactions in 2023, the South China Morning Post reports. The blockchain, which is associated with controversial entrepreneur Justin Sun, is becoming increasingly popular with drug traffickers, but Bitcoin still maintains the lead there. Tron has emerged as an increasingly attractive option for criminals due to its speed and low transaction fees. The report states that Tether, the top stablecoin, accounted for more than $19 billion of illegal transactions. Roughly 1.6% of the stablecoin’s total volume was linked to criminal activities. The Tron-based…
In Terra (LUNA) v. SEC, attorneys representing Terraform Labs are fighting the U.S. Securities and Exchange Commission (SEC) after the agency sought billions of dollars in fines. The firm’s legal team argues that the token sales occurred “almost entirely outside the United States,” according to a brief filed Wednesday. The SEC disputed this claim, arguing that Terraform Labs “targeted US investors” and therefore should pay a hefty $5.3 billion penalty, mostly in damages. However, Terraform’s lawyers disputed this, stating, “…the SEC has presented no evidence that Defendants’ limited activities in the United States directly caused any losses, losses in the…
Bitcoin HODLers appear to have finished taking profits from their long-dormant coins after an early-year rally pushed them far into the green, according to a popular crypto market analyst. In a Monday X post, TXMCtrades said that the market has “likely absorbed the majority of the Long-Term Holder supply we will see activated in this run.” Behavior Of Long Term Bitcoin Holders “As in every cycle, old supply came to life at the highs to pay itself for years of enduring risk,” he explained. As in every cycle, old supply came to life at the highs to pay itself for…
Decentralized finance protocol Ethena will airdrop 750 million ENA tokens to USDe holders on April 2. Aevo’s prelaunch futures tied to ENA surged over 20% early Friday. Prelaunch futures tied to decentralized finance protocol Ethena’s impending governance token ENA surged on Friday, implying a market capitalization of over $500 million at inception. The ENA/USD pre-debut futures listed on the decentralized exchange Aevo changed hands at 73 cents during the Asian trading hours, representing a 22.29% gain on a 24-hour basis. Ethena, home to the $1.3 billion USDe token, will airdrop 750 million ENA, equating to 5% of the total supply,…
The Bitcoin market experienced a wave of selling pressure yesterday, with Bitcoin ETF outflows reaching a weekly high of $162 million. This comes just a day before the highly anticipated FOMC meeting, where the Federal Open Market Committee will discuss potential interest rate hikes. The outflows mark the fifth consecutive day of decline for Bitcoin investment funds, reflecting growing uncertainty in the market. According to SoSoValue, total net outflows from Bitcoin spot ETFs yesterday, April 30, were as high as $162 million. GrayscaleETF GBTC had a single-day net outflow of US$93.2277 million, and the current historical net outflow of GBTC…
Litecoin now leads the crypto payment sector, with a significant share of transactions. Anticipated MWEB upgrade aims to enhance Litecoin’s scalability and fungibility. “Enjoy using one of the most scalable, fungible cryptocurrencies ever.” – Litecoin Foundation. As Litecoin ascends to the pinnacle of crypto payments, its imminent MWEB upgrade promises to redefine scalability and privacy in digital currencies. Litecoin Takes the Lead in Crypto Payments Litecoin has officially surpassed Bitcoin, Ethereum, and Dogecoin combined in terms of payment transactions, making it the preferred cryptocurrency for payments globally. According to Bitpay, Litecoin accounted for 41.76% of its total transaction count in…
Bitcoin has experienced its most challenging month since the collapse of Sam Bankman-Fried’s FTX empire, as the excitement surrounding US spot Bitcoin ETFs continues to wane. The cryptocurrency’s value plummeted by nearly 16% in April, only slightly better than the decline witnessed in November 2022, according to data accumulated by Bloomberg. The surge in demand fueled by the anticipation of ETFs propelled bitcoin to an all-time high of almost $74,000 in March. However, as optimism for Federal Reserve interest-rate cuts waned and risky investments lost their allure, inflows to these products significantly decreased. Spot Bitcoin ETFs See $182 Million in…
Ethereum co-founder Vitalik Buterin has recently commented on Worldcoin’s attempt to ensure user data’s privacy, acknowledging their effort. Replying to a user’s post on social media Buterin addressed to the project co-founded by OpenAI’s Sam Altman, saying that Worldcoin has done “quite a good job” when it comes to protecting personal information with cryptography. “IMO [In my opinion] they actually have been doing quite a good job of taking the privacy critiques seriously and designing their system to be more and more> IMO they actually have been doing quite a good job of taking the privacy critiques seriously and designing…
The recent downturn in Bitcoin prices has captured the attention of cryptocurrency investors, with the digital currency currently hovering around $57,000. The low is fueled by a sharp reduction in demand, signaling potential shifts in the market sentiments. Bitcoin Whales Decrease Accumulation Traditionally driven by robust demand from permanent holders and large investors, Bitcoin has seen a stark reversal in this trend. According to a CrytoQuant report shared with BeInCrypto, there has been a dramatic 50% drop in monthly growth from permanent holders. The demand decreased from over 200,000 Bitcoins in late March to 96,000 currently. Permanent holders are investors…
Real-world asset (RWA) protocol Untangled Finance has announced its first on-chain securitization pool on the Celo blockchain. The pool is structured under Luxembourg’s securitization laws, collateralized by a diverse set of French working capital assets from fintech Karmen, and has a debt ceiling set at $6 million. The Credit Collective, supported by Fasanara Capital as the senior lender, has shown early support for this initiative, which is part of a larger €100 million senior facility agreement with Karmen. The pool offers access to credit analytics for verified investors who pass a comprehensive know-your-customer (KYC) process, ensuring asset protection against originator…