Author: NBTC
Tokens related to the artificial intelligence (AI) narrative went up 257% on average so far in 2024, according to a Mar. 5 report by CoinGecko. TAO, the token powering Bittensor, a decentralized machine learning protocol, has maintained its position as the largest AI token by market cap, reaching $3.8 billion as of Feb. 29. This marks a significant lead over its closest competitor, RNDR, which boasts a market cap of $3 billion. FET holds the third spot with a market valuation of $1.4 billion. Despite the stability at the top, the AI token market has witnessed considerable movement. OLAS, which…
The world’s largest crypto exchange Binance on Tuesday said it is extending a promotion for several cryptocurrencies, especially meme coins on Binance Margin. Binance to offer a one-hour interest fee waiver for major trending crypto including Dogecoin (DOGE), Shiba Inu (SHIB), Pepe Coin (PEPE), BONK, dogwifhat (WIF), and FLOKI. Binance Expands Support for DOGE, SHIB, PEPE, BONK, WIF, FLOKI Crypto exchange Binance in an official announcement on March 12 revealed a new move to boost trading of trending cryptocurrencies. The move comes amid massive demand for meme coins and gaming tokens. Users can start trading to automatically receive a one-hour…
Lawmakers discussed the Consumer Financial Protection Bureau’s proposal to potentially bring payment applications, including those involving crypto, under its oversight. The proposal, “Defining Larger Participants of a Market for General-Use Digital Consumer Payment Applications,” aims to regulate nonbank financial companies processing over five million transactions annually, similar to the regulatory requirements for banks and credit unions. During the hearing, some House Financial Services subcommittee members expressed concerns about the CFPB overstepping its bounds. Rep. Mike Flood, R-Neb, questioned the legality of the CFPB claiming jurisdiction over cryptocurrencies with minimal legal basis. Conversely, Democrats like Rep. Stephen Lynch, D-Mass, argued for…
Bitcoin rose overnight, retaking $67,000 on Wednesday after falling to just above $62,000 on Tuesday. The fall came after Bitcoin reached its new all-time high of $69,170, according to CoinMarketCap. While still in the red, Bitcoin rose 7.89%. Investor interest in Bitcoin has skyrocketed since the approval of several spot Bitcoin ETFs in January and the fast-approaching halving on April 20, 2024. But like Sir Isaac Newton said, “what goes up must come down,” and the price of Bitcoin went into freefall after reaching its highest peak. “The March 5, 2024 high was observed at 3:05 pm where we hit…
Ether puts expiring in 30 and 60 days traded at a premium to calls a day after the cryptocurrency’s price broke above $4,000. The relative richness of puts likely stems from concerns that the U.S. SEC may not approve the highly anticipated ether spot ETF by May. Ether (ETH) options traders are bracing for near-term price weakness a day after the cryptocurrency convincingly rose past $4,000 to the highest since late 2021. Ether’s one-month call-put skew, an options market measure of sentiment, has turned negative, hinting at the relative richness of puts, or options used to protect against bearish price…
Upbit, South Korea’s largest cryptocurrency exchange, has seen an unusual increase in trading volumes for several altcoins relative to Binance. The altcoins in question include Qtum (QTUM), Arbitrum (ARB), Decentraland (MANA), Kava (KAVA) and StormX (STMX). The 4-hour chart for Qtum (QTUM) showed an average volume of $3 million, but the last recorded volume was surprisingly around $9 million, indicating a 165.23% increase on Upbit. On Binance, the 4-hour average 50 volume was $758 thousand, while the last recorded volume was $892 thousand, an increase of 17.65%. Arbitrum (ARB) also saw a significant increase on the 1-hour chart. While the…
Binance Launchpool, the world’s largest cryptocurrency exchange, announced the 49th project on its platform. Binance stated that the new Launchpool project is ether.fi (ETHFI). “Binance is excited to announce that ether.fi (ETHFI) is the 49th project on Binance Launchpool, the decentralized, non-custodial delegated staking protocol. Users will be able to stake their BNB and FDUSD in separate pools to collect ETHFI tokens for four days starting 03.14.2024 00:00 (UTC). Binance will then list ETHFI on 3/18/2024 at 12:00 (UTC) and begin trading with trading pairs ETHFI/BTC, ETHFI/USDT, ETHFI/BNB, ETHFI/FDUSD, and ETHFI/TRY. Seed Label will be applied to ETHFI. Binance will…
Terraform Labs can retain its lawyers in its bankruptcy proceedings, a judge ruled Tuesday. The ruling comes after the Securities and Exchange Commission challenged the bankrupt company’s retainer of $166 million for the lawyers. The bankruptcy court found, thanks to two declarations in support of the company’s move, that the law firm “does not represent or hold any interest adverse to the debtor.” Additionally, the law firm agreed to return $48 million — of the amount pre-paid for the firm’s work on the case — to Terraform. Read more: Terraform faces ‘significant liability’ after SEC trial The agency previously argued…
Leading cryptocurrency Bitcoin has recently experienced a massive buying wave, pushing BTC to an all-time high. At this point, although BTC reached $ 69,000, it could not hold on there and fell to $ 59,000 in a short time. However, Bitcoin recovered afterwards, increasing by 59% since the beginning of the year and a surprising 300% increase since January 2023. While the market generally continues to expect a rise in Bitcoin, CME Group discussed the rise of BTC in recent months and listed the reasons behind the rise in a video it published. While CME Group cited the halving event…
With the stellar demand for spot Bitcoin ETFs within the first two months of launch, market analysts are hoping for a similar approval of spot Ethereum ETF. Top industry players like BlackRock and Fidelity have been flexing their muscles to get a spot Ether ETF in the market, however, the overall optimism surrounding this seems to be waning down. What Are the Roadblocks to Ethereum ETF Approval? Blofin Analysis has indicated that the likelihood of spot ETH ETFs receiving approval is considerably reduced due to factors such as the negative implications of the PoS mechanism, risks associated with price manipulation,…