Author: NBTC
Solv Protocol, a yield platform known for tokenizing and consolidating yields from diverse sources, announced its new reward point system scheduled for launch on April 5. The system aims to incentivize users who invest in Solv vaults such as SolvBTC, the platform’s native yield solution tailored for Bitcoin (BTC) traders. The Solv rewards system Solv’s point system signals a shift to a new, dynamic approach to rewarding users based on their investment activities. By staking in Solv vaults, users can accumulate points proportional to their staked amounts. These points can be redeemed for future Solv airdrops, fostering increased engagement and…
Bitcoin price is holding gains above the $70,000 resistance. BTC is now showing positive signs and might aim for a move above the $73,000 level. Bitcoin price extended its increase and tested the $73,000 zone. The price is trading above $71,500 and the 100 hourly Simple moving average. There is a connecting bullish trend line forming with support at $71,300 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could continue to move up if it clears the $72,850 and $73,000 resistance levels. Bitcoin Price Sets New ATH Bitcoin price remained stable above the $70,000…
CryptoQuant CEO Ki Young Ju has voiced concerns about Ethena’s recent decision to incorporate Bitcoin as a backing asset for its USDe synthetic dollar. On April 4, Ethena Labs revealed plans to onboard BTC as a backing asset for USDe to create a safer product for its users. The firm said: “After the unprecedented growth or USDe since launch, Ethena hedges represent ~20% of ETH open interest as of today. With $25 billion of BTC open interest readily available for Ethena to delta hedge, the capacity for USDe to scale has increased >2.5x.” USDe is a fast-rising “stablecoin” that has…
From the Andes to the Amazon, unbanked communities in Peru are using bitcoin, and it’s having a notably positive effect on them. “The work we’re doing in the communities with circular bitcoin economies is bringing results,” Franco Granja, a team member at the Peruvian nonprofit initiative Motiv, told me in an interview. “The results don’t come in a day or two, but in the three or four years we’ve been working with bitcoin, people have come to understand its value. They’ve begun to think about saving for their children or buying a house or car.” Granja, a 27-year-old native Peruvian,…
Ethereum co-founder Vitalik Buterin reminded us that crypto is not about trading digital assets, it is about liberty and decentralization. His statement raises crucial questions about the role of cryptocurrencies in fostering freedom and privacy in the face of global surveillance concerns. Buterin’s assertion underlines a disconcerting trend where individual rights can potentially be compromised by expansive surveillance measures. The fear that governmental powers could misuse such capabilities to monitor adversaries or the public is not unfounded. The ethos of crypto was birthed as a countermeasure to such centralizations of power, aiming to distribute control back to individuals. However, the…
Terraform Labs and founder Do Kwon’s lawyers will make final arguments to a jury on Friday. The SEC seeks civil penalties and asked for a ban on Do Kwon and Terraform Labs from the US securities industry. Terra Classic LUNC price is down nearly 5%. Terra Classic (LUNC) price is down on Friday as lawyers that represent Terraform Labs and founder Do Kwon work on final arguments for a civil lawsuit. The SEC alleges that the firm and founder Kwon misled investors about the stability of their stablecoin TerraUSD and brought fraud charges against the firm. The final arguments will…
Square Enix, the video game giant behind the Final Fantasy and Kingdom Hearts franchises, announced Monday that it has signed a collaboration agreement with prominent metaverse investment firm and crypto game publisher Animoca Brands. The firms will work together to expand the game publisher’s Ethereum NFT game Symbiogenesis to a broader global audience. Specifically, Animoca’s newly established subsidiary, Animoca Brands Japan, will work with Square Enix on combined marketing efforts, including collaborations with some of the 400+ projects in Animoca’s portfolio. Launched in December, Symbiogenesis is a narrative adventure game built around 10,000 Ethereum NFT characters, as well as many…
Nate Geraci, president of the ETF Store, has noted that the general consensus is that the U.S. Securities and Exchange Commission is not going to approve spot Ethereum exchange-traded funds (ETFs) this May. This is due to the lack of engagement with issuers over the past few weeks. Earlier this month, Barron’s reported that discussions about spot ETFs have been “very one-sided.” This is very different from the constant “back-and-forth” that was observed on the cusp of the approval of multiple Bitcoin ETFs. The SEC was not willing to offer any feedback about Ethereum ETFs, meaning that their approval is…
Pendle revealed the introduction of two new Liquid Restaking Tokens on the Arbitrum network has boosted PENDLE’s price. The expansion has led to a notable surge in Pendle’s market activity, with its value climbing 9.5% to $5.75. The addition of these assets aims to diversify the options available to users for yield farming and liquidity provision, potentially enhancing the protocol’s appeal and utility within the decentralized finance (defi) landscape. Pendle, established in July 2021 by a team led by developers Tong and Josh, has carved a niche by facilitating trading, yield farming, and liquidity provision of tokenized yield assets. Through…
The Chinese Embassy reminded that Angola’s “Law on the Prohibition of Cryptocurrency and Other Virtual Asset Mining” has officially entered into force. This law declares cryptocurrency mining in the African country a criminal activity punishable by imprisonment ranging from 1 to 12 years. Angola, Africa’s third-largest oil producer and once China’s largest supplier of crude oil, has seen an influx of Chinese miners mining Bitcoin. However, the new law imposes strict penalties for those who engage in such activities. The law stipulates that possession of information, communications and infrastructure equipment used for virtual currency “mining” activities will result in a…