Author: NBTC

Total value locked (TVL) on Blast slumped from $2.3 billion to $650 million after withdrawals were opened on Friday. 50% of the upcoming airdrops will be issued to Blast depositors, with the other 50% being allocated to developers. Several protocols including Zora and Pyth have announced Blast integrations. Investors that staked ether (ETH) on newly-launched layer-2 network Blast have withdrawn $1.6 billion of assets in the first 24-hours after the mainnet went live, DefiLlama data shows. Blast, promising on its website to be the “only Ethereum L2 with native yield,” announced a deposit-only bridge in November that quickly garnered more…

Ethereum price struggled to rise above $2,550 and $2,580. ETH started a fresh decline like Bitcoin and traded below the $2,500 support zone. Ethereum attempted a fresh increase but failed to surpass $2,550. The price is trading below $2,500 and the 100-hourly Simple Moving Average. There is a connecting bearish trend line forming with resistance near $2,480 on the hourly chart of ETH/USD (data feed via Kraken). The pair continue to move down if there is a move below the $2,425 support. Ethereum Price Extends Decline Ethereum price struggled to gain pace for a move above the $2,550 and $2,580…

Polymer Labs has raised $23 million in Series A funding to advance the building of its Ethereum-based interoperability hub. The funding round was co-led by Blockchain Capital, Maven 11, and Distributed Global and included contributions from a number of big-name investors, such as Coinbase Ventures, Placeholder, and Digital Currency Group. Polymer Labs emerged from stealth nearly two years after closing its seed funding of $3.6 million. Polymer has developed a layer 2 network that employs the Inter-Blockchain Communication (IBC) – originally developed for the Cosmos ecosystem to allow different blockchains to communicate with one another – to build an Ethereum-based…

Shiba Inu-based inscription marketplace WoofSwap intends to welcome the ERC404 token standard for Shibarium. In a recent post on X, WoofSwap, a hub for trading Shiba Inu-themed SRC-20 token inscriptions, unveiled a significant update for the SHIB Army. Specifically, WoofSwap seeks to explore the feasibility of implementing the ERC404 standard on Shibarium, the layer two blockchain designed for the Shiba Inu ecosystem. The WoofSwap team expressed admiration for the ERC404 concept. Notably, this standard amalgamates the characteristics of ERC20 for fungible tokens and ERC721 for non-fungible tokens (NFTs). Essentially, ERC404 provides fungibility and unique identifiers. Given its potential benefits for…

Ordiswap V2, the first-ever Automated Market Maker (AMM) on the Bitcoin native layer, has officially launched. It promises improved speed and functionality. Users can now enjoy faster swap times and cross-chain token transfers between Bitcoin and Ethereum via THORChain LPs. They have the opportunity to provide liquidity to their favorite BRC-20 tokens for rewards and yields. Moreover, they can create their pools with LP tokens. 🧪🧪 ORDISWAP V2 IS LIVE 🧪🧪The 1st-ever AMM on the Bitcoin native layer is now officially bigger, better and faster than ever ⚡️Now, users can:→ Swap BRC-20s (and more to come) at 2x speeds with…

Ethereum (ETH) has reached a significant milestone, with 24% of its total supply now staked. This development reflects a growing tendency among ETH holders to prioritize earning passive income through staking rather than selling their assets for immediate price appreciation. This shift highlights the holders’ increasing confidence and commitment to the network’s future. Especially, after recent advancements such as the Shapella upgrade. Ethereum Holders Prefer Staking One of the most anticipated features of the Shapella upgrade was the introduction of withdrawal functionality for staked Ethereum. This change allowed validators and stakers to withdraw their staked ETH along with the accrued…

On Thursday, activist short-seller J Capital Research published its investigation into the once-multi-billion dollar Bitcoin miner Hut 8. Investors immediately offloaded shares which dropped from above $9 when the report was published to $7 by the close of trading. Hut 8 shed hundreds of millions of dollars in market capitalization within hours of J Capital’s report. By close of trading, shares had dropped by 22% from over $9 to $7. J Capital listed a litany of red flags, including backing by penny stock promoters, all-in mining costs of $60,000 per bitcoin, dubious executives, multiple run-ins with regulators, and the risk…

Celer Network enables seamless transfer of Moons between Arbitrum Nova and Arbitrum One. This bridge provides access to higher liquidity, DeFi applications, and multisig support. The community can enjoy increased voting power in snapshot governance for active user participation. In a significant move, Celer announces a strategic partnership with r/CryptoCurrency to facilitate the bridging of Moons to Arbitrum One. This collaboration aims to enhance the utility and accessibility of Moons, providing users with a seamless experience between different networks. The multidirectional bridge, scheduled to go live by March 20, 2024, empowers users to effortlessly transfer Moons between Arbitrum Nova and…

Today, Bitcoin’s (BTC) price reached a new yearly high above $50,000. This is the highest price since December 2021. The upward movement took Bitcoin above a long-term horizontal and Fib retracement resistance level. Bitcoin Negates Bearish Candlestick Bitcoin’s price has increased at an accelerated rate since October 2023. Initially, the upward movement led to a high of $48,969 in January 2024. The ensuing decrease created a bearish candlestick (red icon) and validated a long-term horizontal and Fib retracement resistance level. While the rejection catalyzed a nearly month-long downward movement, BTC regained its footing in the past three weeks and reached…

Ethereum faces resistance at $2,520, crucial for bullish momentum. Santiment highlights Ethereum’s +22.4% dominance over Bitcoin in one week. Ethereum, the second-largest cryptocurrency, is at a crucial crossroads as it grapples with resistance levels and shifting market dynamics. Over the past week, ETH has experienced a 5% decline, currently trading at $2,462, with a 2.38% dip in the last 24 hours. Ethereum’s recent struggles to surpass $2,550 and $2,580 mirror the BTC bears’ fight against negative market sentiment post-Bitcoin ETFs. The bears remain active as ETH trades below the $2,500 mark and the 100-hourly Simple Moving Average. Meanwhile, the trading…