Author: NBTC
The Arcana network will tap on the Polygon Chain Development Kit (CDK) to further enhance the decentralization of its web3 products. The Polygon CDK is used by web3 developers to launch zero-knowledge layer two networks on the Ethereum network. The Ethereum (ETH) network has established itself as a solid cornerstone for web3 development due to its secure smart contracts. The Ethereum network has grown to a vibrant layer-two ecosystem, which consists of more than 40 networks – led by Polygon (MATIC), Optimism (OP), and Arbitrum (ARB), among others. Meanwhile, DeFi developers have been working on enhanced scalability through added consensus…
The current Bitcoin bull run is generating fewer whales than previous bull runs have done. A recent analysis by Kaiko indeed shows how the daily number of new millionaire wallets per hour has remained below two thousand, while during the last bull run they were over four thousand. The return of whales during the Bitcoin bull run The ongoing bull run Bull run still in its early stages? The return of whales during the Bitcoin bull run The chart published by Kaiko shows that the number of wallets holding more than one million dollars in Bitcoin peaked at the end…
The U.S. SEC postponed the application to open an Ethereum ETF from Franklin Templeton. According to a document published on the regulator’s website, the Commission considers it appropriate to set a more extended period for action on the proposed rule change to give it sufficient time to consider the proposed rule change and its issues. The SEC must decide on Franklin Templeton’s application by June 11. “The Commission shall either approve or disapprove or institute proceedings to determine whether to disapprove the proposed rule change.” SEC filing You might also like: Fidelity files S-1 for Ethereum ETF In February, Franklin…
The online crypto community is busy with discussion about a proposed 1% wealth tax on large holders of Bitcoin (BTC). While there is no official confirmation of such a policy, the rumors have gained widespread attention in light of a recent letter sent to United States President Joe Biden. Rumored 1% wealth tax on crypto The fake letter reportedly signed by Senator Elizabeth Warren targets crypto transactions from large holders, often referred to as whales. The legislative proposal seeks to address regulatory challenges posed by the growing adoption of crypto. The proposal highlights that individuals or corporate bodies holding cryptocurrencies…
Ripple has declared the death of (XRP). Well, to be fair, to be accurate, Ripple CEO Brad Garlinghouse has said the exact opposite when announcing the Silicon Valley crypto mainstay would launch a U.S. dollar-pegged stablecoin later this year. But in the grand scheme of things, XRP’s usefulness is dwindling. (Sorry, XRP Army, it’s my job to speak it how it is.) This is an excerpt from The Node newsletter, a daily roundup of the most pivotal crypto news on CoinDesk and beyond. You can subscribe to get the full newsletter here. The Ripple stablecoin, expected later this year, will…
Guilds that emerged during the play-to-earn boom are evolving with the crypto gaming industry. Now GuildFi has announced plans to rebrand itself to Zentry, with plans to create a unified “superlayer” that rewards players across all types of games—those across multiple blockchains, but also Web2 games and even real-world social experiences. The firm began life back in the Axie Infinity days, running a scholarship program that lent players in-game NFTs in exchange for a cut of their play-to-earn income. Even then, GuildFi aspired to broader aims, describing plans for a cross-game ID that would accumulate points across various games and…
Glassnode’s Bitcoin Spot Cumulative Volume Delta (CVD) registered its highest reading of 2024 on March 11, hitting nearly $900 million. This surge in the CVD, which measures the net difference between aggressive buying and selling pressure across major crypto exchanges, signals a strong bullish sentiment in the Bitcoin market. Looking at the hourly data, a surge of over $360 million occurred around 7 am UTC as Bitcoin rose from $68,500 to $71,200 in the span of 3 hours. The remaining purchases occurred mostly before 8 pm UTC, with around $70 million in selling pressure occurring around 10 am, then again…
As Ethereum (ETH) continues its journey past the $3,000 price point, it faces a formidable challenge: a strong resistance zone lies between $3,170 and $3,270. This barrier is not just a simple price point; it represents a significant concentration of ETH held by 1.63 million addresses, totaling 4.45 million ETH. This accumulation of holdings could be pivotal in determining whether Ethereum can break through and reach the much-anticipated $3,650 level. In a tweet, crypto analyst Ali highlighted a formidable resistance zone for ETH between $3,170 and $3,270, characterized by a concentration of Ethereum holdings among a large number of addresses.…
The Middle East has emerged as a hotspot for cryptocurrency adoption, according to a recent report by Bitget Research. The average daily number of crypto traders in the region soared to 500,000 in 2024. This figure represents an increase of 166% year-over-year. The leading country is the United Arab Emirates (UAE), where 72% of crypto users are actively investing in Bitcoin. This surge in adoption is driven by several factors, including favorable regulatory frameworks, the approval of Bitcoin ETFs, and the overall bullish sentiment in the cryptocurrency market. Centralized crypto exchanges globally have experienced a surge in users from the…
In the volatile world of cryptocurrency trading, timing is always one of the most important skills. Here are the top five failures where investors miss out on potential wealth in 2024. Solana user with short address 9Vdm was an early adopter of the Dogwifhat (WIF) altcoin, purchasing 40.7 million tokens for just $10,000 in the first two weeks of its launch. Unfortunately, three days later he sold his entire holding for a loss of $5,000. If he had kept his investment, he would be worth a staggering $156 million today. The 4QEC short address wallet purchased a total of 81…