Author: NBTC

According to Decrypt, Conflux Network, known as China’s MATIC, introduced the Hong Kong Dollar-Backed Stablecoin AxHKD. Conflux Network, the only regulated public blockchain in China, today announced its pivotal role in assisting with the successful beta testing of the Hong Kong Dollar (HKD)-backed stablecoin AxHKD. Created by local fintech company AnchorX, the stablecoin will be launched first on the Conflux network, followed by the Ethereum (ETH) network. AxHKD will initially be launched on the Conflux public blockchain and will use world-class distributed ledger technology and robust cybersecurity measures, the statement said. It was also stated that it will be pegged…

Gate.io has announced its support for the migration of $SOULS tokens. The move comes after The Unfettered project experienced a hacking incident. The token swap will happen in a ratio of 1:1. Gate.io will support the swap services via a new ID. Users of Gate.io who already hold the token will not have to do anything from their side. At the time of drafting this article, the exchange platform had disabled $SOULS token deposits and withdrawals. The said services will resume after the migration process has concluded. A tentative timeline has not been shared; however, Gate.io is expected to make…

BlackRock, the largest asset manager in the world, has witnessed a dramatic increase in its holdings of Bitcoin (BTC). The amount invested by the company in Bitcoin is now at a remarkable figure of $12.3 billion. The growth is mainly due to the historic inflows into the BlackRock iShares Bitcoin ETF (IBIT). Based on the information from Arkham Intelligence, BlackRock recorded the highest-ever one-day on-chain inflow last week. This came in the form of 12,600 BTC, worth $842 million. BlackRock iShares Bitcoin ETF led this surge, with inflows reaching levels that have never been observed before, even surpassing previous daily…

A massive purchase of 97,276 Ethereum (ETH) has left the crypto community mystified and speculating about the implications for the market. PulseChain, a contentious project founded by Richard Heart, the founder of HEX and its decentralized exchange, PulseX, made a massive purchase of 97,276 ETH worth $363 million, triggering speculation in the crypto space. According to o Lookonchain, PulseX and PulseChain purchased 97,296 ETH worth $363.66 million in barely two days using 11 wallets, spending a total of 363.66 million DAI at an average price of $3,738. Crazy! Bought 97,296 $ETH($363.66M) in only 2 days!😱11 wallets of #PulseX and #PulseChain…

A member of the XRP community, known as Sherrie, has recently addressed accusations against Ripple, the cryptocurrency firm, over the alleged manipulation of its XRP token’s price. This development follows the surfacing of documents indicating Ripple’s engagement with GSR, a global crypto market maker, to employ trading bots for institutional sales of XRP. Ripple’s Chief Technology Officer has refuted these allegations, clarifying that the company halted such practices. Sherrie provided a perspective on the matter, likening Ripple’s actions to those of any other business seeking to raise funds through market activities. She drew parallels between Ripple’s market actions and those…

Binance, one of the leading cryptocurrency exchanges, announced that it supports the upcoming token swap and revaluation plan for Stratis (STRAX), a blockchain platform designed for enterprise-level solutions. Binance Announces Support for Stratis (STRAX) Token Swap and Renomination Plan General Information: Deposit and Withdrawal Transactions: Deposits and withdrawals of old STRAX tokens will be suspended starting from 20-03-2024 06:30. Binance will issue a separate announcement upon completion of the event to inform users about the reopening of deposits and withdrawals for the new STRAX tokens. Token Swap and Renomination: All old STRAX tokens will be swapped for new STRAX tokens…

Bitcoin miners have hoped for a speedy mining rate ahead of the crucial halving. According to a Bloomberg report, the use of energy by Bitcoin miners has reached a record level in the past month. The rise in mining rate also coincides with the supply shock has has kept BTC prices up and soaring. Bitcoin Miners Use Record Level of Energy Bloomberg highlights that in anticipation of a code update that could jeopardize revenue streams, Bitcoin miners are back in survival mode after a near-death experience during the most recent crypto winter. They are consuming energy at a record pace.…

Bitwise CIO Matt Hougan said that institutions “representing trillions of dollars in assets” are expected to start investing in spot Bitcoin ETFs by the second quarter. Hougan made the revelation in a weekly memo sent out to investors, parts of which were shared on social media. Influx of institutional interest Hougan wrote that Bitwise, and likely the other Bitcoin ETF issuers, are engaged in “serious due diligence discussions” with a variety of major financial and corporate entities that are interested in gaining Bitcoin exposure. He added that these entities include “major wirehouses, institutional consultants, and large corporations,” without disclosing further…

In a significant development on the crypto market, Whale Alert data has revealed a staggering transfer of 26,889 ETH, valued at an impressive $102.18 million, from an undisclosed source to the renowned crypto platform Binance. Such large-scale transactions typically spark intrigue within the crypto community, often interpreted as a move by a major investor to liquidate their assets. This transfer, notably, coincides with Ethereum’s recent surge to $3,800, marking its highest price point since January 2022. 🚨 🚨 🚨 🚨 🚨 26,889 #ETH (102,180,556 USD) transferred from unknown wallet to #Binancehttps://t.co/OnLlwBOIQ1 — Whale Alert (@whale_alert) March 7, 2024 ETH’s recent…

Bankrupt crypto exchange Cryptopia plans to distribute bitcoin and dogecoin to qualifying account holders in the coming months. The New Zealand company filed for liquidation after millions of dollars of tokens were stolen from the platform in a 2019 cyber attack. Cryptopia, a New Zealand-based crypto exchange being liquidated following a 2019 cyber attack, will start returning crypto to some of its account holders, according to an email sent to users on Thursday. The first round of distribution will see qualifying users getting their bitcoin (BTC) and dogecoin (DOGE) back in the next three months, the email said. “After the…