Author: NBTC
Korea-based crypto exchanges registered a trading volume of 12 trillion won on Sunday, surpassing Friday’s stock market tally of 11.47 trillion won. Koreans are increasingly turning to alternative investments, with altcoins being preferred over major assets like BTC or ETH. Rising bitcoin (BTC) prices have revived a crypto trading frenzy in South Korea, with volumes on local exchanges crossing those in the local stock market last week. Local media reported that trading volumes on South Korea-based crypto exchanges totaled a record 11.8 trillion won (KRW) on Sunday, or $9 billion at the going USD-KRW exchange rate. These topped Friday’s South…
In the dynamic landscape of blockchain technology, the vitality of validator communities cannot be overstated. These communities serve as the bedrock of decentralization, influencing the trust and security that underpin the entire ecosystem. Armagan Ercan, Validator Communication Lead at Gnosis Chain, offers a compelling exploration into the strategies employed to cultivate a resilient and geographically diverse validator community.—With Gnosis Chain’s recent surge, boasting a staggering 200,000 validators and over 2,000 nodes spread across 70 countries and 5 continents, the significance of community-driven decentralization has never been more apparent. Surpassing all but Ethereum, Gnosis Chain’s validator community stands as a testament…
Recent developments have sparked discussions on whether China is reconsidering its stance on cryptocurrency trading. Despite a pronounced crypto trading ban since September 2021, there is a noticeable uptick in interest within China. Surging search trends on platforms like Weibo and WeChat for Bitcoin evidence this. Now, some speculate about a potential policy shift, especially considering Hong Kong’s more open approach to digital assets. Will China Lift Its Crypto Ban? China’s Economic Daily has reiterated warning investors to remain wary of Bitcoin and related products. It emphasized the country’s ongoing prohibition of such transactions. Beijing lawyer Xiao Sa further underscored…
Historical patterns surrounding past Bitcoin halvings suggest BTC could surge to $300,000 by the peak of this ongoing bull market, according to Tether (USDT) co-founder William Quigley. In a new interview with CNBC, Quigley clarifies that he’s not making a $300,000 BTC prediction, just pointing out that such a target is possible based on historical patterns. Bitcoin’s upcoming halving is currently slated for April 18th. The Tether co-founder says the top crypto asset is currently in a stronger fundamental position than it was before its last halving in May 2020, citing Bitcoin’s ballooned derivative volume and the newly approved spot…
There is a new proposal to raise the Automated Market Maker (AMM) fee in LLAMMa (crvUSD), a liquidity pool, on Curve Finance, a leading decentralized exchange (DEX) popular for stablecoin swaps. Proposal to Raise AMM Fee In LLAMMa to 1.9% A Curve team member suggests a fee increase from 0.6% to 1.9%. If the community accepts this, borrowers leveraging the protocol will benefit. This increase will mitigate ‘soft liquidation losses’ during Ethereum gas fee spikes, enhancing the overall user experience. Like other public ledgers, Ethereum relies on a community of validators to approve transactions and secure the network. These validators…
The volume and worth of liquid staking derivatives (LSDs) have expanded significantly since the beginning of the year, with 1.56 million ether being added to LSD protocols since Jan. 6. The total value of ethereum stored surged by $26.85 billion in the last two months. LSD Market Flourishes: Ethereum Holdings Cross $54 Billion Milestone In the past week, ethereum’s (ETH) price has climbed by 12.5%, and over the past month, ETH has increased by 56.9%. As of 5:15 p.m. Eastern Time on Sunday, ETH is trading at just over $3,900 per coin. The ascent in ETH’s price against the U.S.…
According to DefiLlama data, Solana’s decentralized finance (DeFi) has been experiencing wider growth over the past week. Notably, the decentralized exchanges (DEXs) on Solana have exhibited remarkable surges in trading volume, especially from March 3 to March 6. A Chinese crypto reporter, Colin Wu, shared insights about the Solana DEXs’ astounding trading activities. As per the updates shared on his Wu Blockchain X page, the DEX trading volume on Solana has exceeded $2 billion for four days. In addition, on March 5, the trading volume reached $2.85 billion, marking a new daily high. According to DeFiLlama, from March 3 to…
The crypto surveillance platform Lookonchain has revealed alarming developments regarding the infamous Bitrue Drainer-labeled address. According to the disclosure, the same hacker responsible for a staggering $23.5 million heist on Bitrue Exchange last year has resurfaced with a hefty crypto sale. The #Bitrue Drainer sold 4,207 $ETH for 16.34M $DAI at $3,885 8 hours ago.#BitrueDrainer stole $23.5M assets on April 14, 2023, including:137,000 $QNT($17M)46.4M $GALA($2M)172.55B $SHIB($1.91M)756M $HOT($1.54M)318 $ETH($640K)310,071 $MATIC($352K)Then sold 137,000 $QNT… pic.twitter.com/Ptg5mbCB5C — Lookonchain (@lookonchain) March 11, 2024 In particular, Lookonchain noted that the Bitrue Drainer unloaded 4,207 ETH for $16.34 million denominated in the DAI stablecoin. The hacker…
MetaMask is testing a Mastercard payment card, which it says is the first entirely on-chain card. It will let users spend crypto “on everyday purchases, everywhere cards are accepted,” according to marketing materials CoinDesk reviewed. MetaMask, the popular cryptocurrency wallet for the Ethereum blockchain, is testing an entirely on-chain, Mastercard-branded payment card, according to promotional materials and a testing platform seen by CoinDesk. Such a product would unite two giants of their respective fields. MetaMask is the biggest self-custody wallet with more than 30 million monthly active users, while Mastercard provides key plumbing in the conventional financial system through its…
No Bitcoin ETF will gain approval in South Korea unless the government introduces new crypto rules, the head of the Financial Supervisory Service (FSS) said on March 5. The FSS chief Lee Bok-hyun this week struck an optimistic note about possible Bitcoin spot exchange-traded fund approval. But per the media outlet Nocut News, Lee also tempered his claims with several calls for “caution.” No Bitcoin ETF If ‘Regulation Isn’t Forthcoming’ Lee was widely reported as claiming on March 5 that he was “one of the regulators who are positive about virtual assets.” He claimed that “there are others who are…