Author: NBTC
The dominance of the U.S. dollar as the linchpin of the international financial system is being increasingly questioned due to shifting geopolitical currents and the country’s growing twin deficits, Wall Street giant Morgan Stanley (MS) said in a report last week.Enter cryptocurrencies, which, while still in their early stages, have the potential to both erode and reinforce the dollar’s dominance in global finance, the bank said.“The recent growth in interest of digital assets such as bitcoin (BTC), growth of stablecoin volumes and the promise of central bank digital currencies (CBDCs), have potential to significantly alter the currency landscape,” wrote Andrew…
This week, the first token conforming to the ERC-404 token standard is up 12,500%. The token blends the fungibility of ERC-20 tokens with the distinctive qualities of rare NFTs to herald a new era of tokenization. Pandora’s PANDORA token has risen to $29,517.61 since its launch earlier this month. Pandora Tokens Herald Era of Liquid NFTs Pandora tokens are fractionally bound to a whole NFT. The tokens themselves are tradeable and liquid on decentralized exchanges (DEX) like a regular ERC-20 token. The fractions make the whole NFT as liquid as a regular DEX trading pair. PANDORA Four-Hourly Price Chart |…
In 2024, Bitcoin (BTC) seems to be on the cusp of significant change, with the upcoming halving event expected to bolster its fundamentals and reduce selling pressure. This pivotal moment, combined with the surge in interest from innovations like Ordinals and the rapid adoption of Bitcoin ETFs, signals a bullish outlook for Bitcoin’s price. Such ETFs, indicating strong investor confidence, could push prices to new highs, further fueled by a fear of missing out (FOMO) among investors. This article explores the critical factors poised to drive Bitcoin’s value and investor interest in 2024, highlighting a potentially landmark year. Impact of…
Industry experts predict a clear path to approval of spot Ethereum ETFs in 2024, with some even predicting trading will begin as early as the second quarter. Spot Ethereum ETFs Ready for Approval in 2024, Analysts Predict Following the approval of 11 spot Bitcoin ETFs on January 10, the focus has now shifted to spot Ethereum ETFs. Many major players, including BlackRock, VanEck, ARK 21Shares, Fidelity, Invesco Galaxy, Grayscale and Hashdex, have filed for spot Ethereum ETFs with the US Securities and Exchange Commission (SEC). Following the approvals, Ethereum’s price rose nearly 3%, rising above $2,500 for the first time…
Bitcoin (BTC) experienced a slight recovery today and its price rose above $43,000. This revival is attributed to the potential pause in interest rate increases by the FED, which is scheduled to meet at the end of January. The FED’s meeting, which will take place in just 15 days, will determine the future direction of the US Federal Reserve’s monetary policy. According to the CME FedWatch tool, current forecasts show a 97.4% chance that the Fed borrowing rate will remain steady within its current target range of 5.25%-5.50%. Analysts from Bitfinex have suggested that a pause in interest rate hikes…
With the recovery in the broader crypto ecosystem, XRP is sailing the tides to new coasts. The cryptocurrency activated its rebound mode after soaring as high as 3.4% in the past 24 hours to $0.522. Over the trailing seven-day period, XRP has jumped by more than 7%, according to data from CoinMarketCap. This recovery means a lot for XRP bulls and its broader community of HODLers as the need to recover lost ground remains the key pursuit. Over the past six months, XRP has traded far below its core rivals. The price of the asset has dropped by 17.07% over…
Bitcoin’s price topped $49,000 Monday after strong spot bitcoin ETF inflows late last week. Bitcoin ETFs gained net $1.1 billion fresh funds amid slowing GBTC outflows. Bitcoin (BTC) topped $49,000 Monday supported by last week’s strong exchange-traded fund (ETF) inflows and signs of institutional accumulation. The largest crypto was hovering around $48,000 earlier during the day before experiencing a sudden spike to $49,100 in the beginning of the U.S. trading session. At press time, BTC was changing hands slightly above $48,900, up nearly 2% over the past 24 hours and outperforming the broad-market CoinDesk 20 Index’s (CD20) minor, 0.2% decline.…
The approval of spot bitcoin ETFs has sparked optimism among ether traders, who are hoping for a spot ether product as well. BlackRock has already filed a prospectus for its iShares Ethereum Trust, a spot ether exchange-traded fund, with the SEC. The potential approval of an ether ETF could increase investment and interest in Ethereum-based projects and layer 2 networks, leading to more innovation and growth within the ecosystem. The historic U.S. approval of spot bitcoin (BTC) exchange-traded funds (ETF) on Wednesday has buoyed ether (ETH) traders, who are betting the token that powers the Ethereum network could be next…
Core Scientific, a blockchain infrastructure and hosting provider, is getting set to exit bankruptcy after a Texas court approved its reorganization plan on Tuesday. The latest decision by the US Bankruptcy Court for the Southern District of Texas gives the firm a path to emerge from Chapter 11 bankruptcy and re-list its shares on the Nasdaq later this month, a spokesperson told Blockworks in an email. Core Scientific filed for bankruptcy in December 2022 after it had trouble generating enough revenue to cover debt obligations. The firm was among the companies in the sector that took out high-interest loans to…
BERN, Switzerland — Tezos, a blockchain platform known for its self-upgrade capabilities and community-driven governance, has successfully implemented the Oxford 2 upgrade, marking its fifteenth core protocol upgrade. —This latest upgrade brings several significant improvements, including the introduction of private Smart Rollups, enhancements to staking processes for validators (bakers), adjustments to slashing penalties, and the re-enabling of Timelocks in Tezos smart contracts.Key Features of the Oxford 2 Upgrade:Private Smart Rollups: Enables developers to define a whitelist for data visibility, catering to specific privacy needs.Smoother Staking UX: Introduces auto-staking for Tezos bakers, simplifying fund management.Timelocks Re-enabled: Enhances security by reactivating Timelocks…