Author: NBTC
Bithumb Korea, the operator of the Bithumb crypto exchange, has reported a year-on-year decline in profitability for the Financial Year 2023, despite recent upturns in trading volumes. Per the South Korean media outlet New Daily, year-on-year sales figures fell by 58%, according to a Bithumb statement on April 2. However, while the company’s performance shrank compared to 2020, its profits remained in the black. Trading volumes on South Korea’s Bithumb crypto exchange over the past 12 months. (Source: CoinGecko) Bithumb Korea: Did Commission-free Trading Harm Financial Results? Bithumb Korea said its exchange business “recorded operating losses of [just over $11…
Powerloom, a pioneering composable data network facilitating protocols to index and query blockchain data in a decentralized fashion, has announced its expansion to the Base ecosystem. This strategic move coincides with the company’s celebration of surpassing 5,200 Snapshotter Lite nodes, underscoring its dedication to delivering actionable onchain data across both Layer-1 (L1) and Layer-2 (L2) networks. Powerloom’s integration with Base, an Ethereum Layer-2 scaling solution incubated by Coinbase, signifies a groundbreaking opportunity for Base users. It introduces the capability to mint a data node, presenting a unique avenue for users to contribute to and gain from onchain data. Powerloom’s one-click…
In a recent tweet, Billy Markus, who created the famous meme cryptocurrency Dogecoin in collaboration with Jackson Palmer in 2013, has talked about Dogecoin and a chance that it can potentially soar to a new all-time high. However, Markus’s tweet also mentions a hard price fall after that, which confirms the fact that “Shibetoshi Nakamoto” (as Markus is known on Twitter/X) considers crypto to be extremely volatile in line with his earlier tweets about that. Aside from that, Markus made a bullish statement about Dogecoin, opposing to BEL and defending DOGE from criticism. Markus’s ‘statement’ about DOGE volatility The cofounder…
Argentina last week moved forward with implementing a Registry of Virtual Asset Service Providers (VASP), drawing some outcry from those who hoped the nation might be heading in the direction of El Salvador’s welcoming of Bitcoin. The new law means platforms and individuals who purchase, sell, send or trade cryptocurrencies must adhere to a registration process. While the regulation appears to have been left over by the previous government, the fact that it’s moved forward and has now become law under President Javier Milei is disappointing to those who imagined Latin America was going to get another bitcoin-friendly leader. “Javier…
KuCoin, one of the most prominent crypto trading platforms globally, has endorsed the Solana-based project Wormhole (W) token. Wormhole is a cross-chain messaging platform that allows money to move across blockchains. KuCoin disclosed its intent to welcome Wormhole’s W token via its official website and X handle. Per the notification, KuCoin has added W to its list of tradable crypto assets. 💥World Premiere💥📢 New Listing@wormhole $W Gets Listed on #KuCoin! 💎Pair: W/USDT💎Deposit: now open (network: SOL-SPL)💎Trading: 12:00 on April 3, 2024 (UTC) — KuCoin (@kucoincom) April 2, 2024 Furthermore, in the report, KuCoin expressed delight in listing Wormhole token on…
In more recent events in the Ethereum ecosystem, Starknet Goerli has shut down its major testnet after a validator mass exodus. The Starknet development team has communicated the decision through its official X platform on social media. They claimed that the closure is a major transition for developers and other users who have relied on its infrastructure. Starknet Goerli Operations Shift to Sepolia Testne All activities and operations related to the testnet that have previously been conducted on Starknet Goerli have been migrated to Sepolia. This shows how the blockchain is a flexible system that requires stakeholders to adjust according…
In a remarkable turn of events, the price of Dogecoin (DOGE) soared following Elon Musk’s recent comments at the Tesla Giga Event in Berlin. Musk, the renowned billionaire entrepreneur, hinted at the possibility of accepting Dogecoin as a payment method for Tesla vehicles in the future. This revelation sent reverberations through the crypto market, particularly propelling DOGE to new heights. The price of Dogecoin surged by over 10%, reaching an impressive $0.186 per DOGE within hours of Musk’s statement. Simultaneously, the volume of Dogecoin spot trading experienced a staggering 60% increase, surpassing $4 billion in just 24 hours. Additionally, derivatives…
The Financial Markets Authority (AMF) has issued a warning to savers in France regarding investment proposals by the digital asset trading platform BITGET. The AMF emphasized the need for utmost vigilance, highlighting that BITGET is not authorized to provide its services on digital assets within France. As a consequence, the AMF is prepared to take legal action to block the platform’s site. AMF Targets Unregistered Digital Asset Platforms Under the monetary and financial code, certain activities related to digital assets, including custody services, purchase or sale of digital assets, and operation of digital asset trading platforms, necessitate mandatory registration as…
CoinDCX, a leading crypto exchange in India, has partnered up with Mesh, a US company specializing in finance solutions, aiming to streamline digital asset transfers and management for its users. The partnership introduces a streamlined process for transferring assets between centralized exchange accounts and decentralized finance (defi) wallets directly on the CoinDCX platform. This feature simplifies the process of digital asset deposits, enabling secure and straightforward transactions without leaving the CoinDCX environment. “The integration with Mesh is a game-changer for CoinDCX and our users. Solutions like Mesh streamline the complexities of the crypto industry, significantly enhancing the usability factor for…
Decentralized taxi app DRIFE has integrated Layer 1 Sui blockchain, to offer seamless and simplified onboarding process for ride-hailing users. The blockchain-based mobility platform operates in India and the UAE providing fair and transparent ride-hailing experience. DRIFE’s key benefit is its ability to eliminate intermediaries, ensuring direct transactions between riders and drivers. By migrating to Sui blockchain, DRIFE will utilize its features including ZKlogin, which enables frictionless user interaction. Per a company release, Sui offers a fair solution for drivers that suffer due to centralization and high commission rates. DRIFE has chosen Sui due to the blockchain’s scalability, security and…