Author: NBTC

The United Arab Emirates (UAE) has settled its first cross-border payment to China using the Central Bank Digital Currency (CBDC). On a historic day for global finance, $13.6 million in Digital Dirham was sent via mBridge’s distributed ledger technology. For this payment, Sheikh Mansour bin Zayed Al Nahyan sent AED50 million, worth $13.6 million, with the Digital Dirham. In particular, the Digital Dirham was sent through the ‘mBridge’. This distributed ledger technology (DLT) uses CBDCs for international fund transfers between participating banks.Notably, Sheikh Mansour is also UAE’s Vice President, Deputy Prime Minister, Chairman of the Presidential Court, and Chairman of…

Richard Teng, the new chief executive of Binance, the largest cryptocurrency exchange by trading volume, took to his Twitter/X account to issue a comment on the crucial milestone reached today by Bitcoin in terms of market capitalization value. The world’s largest cryptocurrency not only surpassed the $51,000 level today, but it also regained $1 trillion market capitalization for the first time since 2021. Teng tweeted that this was a “big milestone for Bitcoin.” Big milestone for #Bitcoin https://t.co/PK9iVhfbYH — Richard Teng (@_RichardTeng) February 14, 2024 Earlier today, on-chain data aggregator Glassnode pointed out that with this rise, Bitcoin surpassed such…

Decrypt’s Art, Fashion, and Entertainment Hub. Discover SCENE Dencun is coming. And Ethereum is going to be a lot cheaper as a result, according to its devs. A blog post yesterday by the Ethereum Foundation confirmed that the next two steps of the long-awaited upgrade—known as the Sepolia and Holesky testnets—are due to be completed by early next month. This means that the upgrade should be live on the mainnet by March. “Assuming the Sepolia and Holesky upgrades go well, Dencun will be scheduled on the Ethereum mainnet next,” the post read, adding that Sepolia is due to take place…

A couple of big issues stand in the way of real-world asset tokenization, according to the chief executive of the global investment management giant VanEck. In a new interview with Raoul Pal, VanEck CEO Jan van Eck says that liquidity is a “big issue” for tokenization. “Who provides the liquidity? Anyone can theoretically tokenize anything. But if there’s a buyer and a seller of an asset, someone’s got to make that market. And you think, ‘Oh, Jan, S&P 500 – it’s so obvious. So easy to price.’ But someone has to make a market in it, and someone’s got to…

Ethereum price is attempting a recovery wave above the $2,200 zone. ETH could start a decent increase if it settles above the $2,240 resistance. Ethereum started an upside correction from the $2,165 zone. The price is trading below $2,250 and the 100-hourly Simple Moving Average. There is a short-term bearish trend line forming with resistance near $2,225 on the hourly chart of ETH/USD (data feed via Kraken). The pair might start a decent increase if it clears the $2,240 resistance zone. Ethereum Price Eyes Recovery Ethereum price managed to form a support base above the $2,165 level. ETH seems to…

Ethereum is encountering a massive sell-off exceeding $1 billion. The source of this enormous market movement can be traced back to Celsius, which reportedly transferred a staggering 459,561 ETH, valued at approximately $1.014 billion, to various exchanges. The distribution of this sell-off was as follows: 297,454 ETH ($656.5 million) moved to Coinbase Prime, 146,507 ETH to Paxos Treasury and smaller amounts of 7,800 ETH each, totaling $17.2 million, were transferred to FalconX and Coinbase. Despite this massive transfer, Celsius reportedly retains a reserve of 62,468 ETH, worth around $139 million. Celsius transferred 459,561 $ETH($1.014B) out 9 hrs ago.297,454 $ETH($656.5M) →…

Tuesday witnessed a modest decline in equities as investors navigated market uncertainties influenced by the anticipation of big tech earnings and cautious signals from Federal Reserve officials. Meanwhile, cryptocurrencies presented a mixed picture, amidst a week packed with key earnings reports and the looming Federal Reserve decision on interest rates set for Wednesday. Bitcoin bounced modestly Tuesday, hovering around $43,500 after dipping below the $40,000 level late last week. Ether traded sideways Tuesday morning, but both cryptocurrencies were able to maintain their recovery path after a disappointing few weeks. Bitcoin (BTC) is now up around 3.3% over the month and…

Shiba Inu’s layer-2 scaling solution, Shibarium, has recently seen its number of daily transactions plunged from around 2.5 million transactions per day to 500,000 in a short-lived slowdown, before it the number of daily transactions rebounded to 2 million. The surge comes at a time in which the cryptocurrency’s layer-2 network is approaching the 350 million total transaction mark, having already processed over 3.1 million blocks with an average block time of little over 5 seconds. The network, it’s worth adding, currently has 1.35 million wallet addresses on it. Despite Shibarium’s growing adoption, the meme-inspired cryptocurrency’s price has failed to…

The decentralized finance (DeFi) total value locked (TVL) has reached 22-month highs as the broader crypto market witnessed a notable surge. According to data provided by Defi Llama, the global DeFi TVL increased by $27.6 billion since Feb. 1 — rising from $59.44 billion to $87.12 billion at the time of writing — a level not seen since May 2022. Defi TVL – Feb. 27 | Source: Defi Llama Following the increase, the TVL of the leading defi protocol, Lido Finance, saw its value increase by 4% over the past 24 hours. Per Defi Llama, Lido Finance’s TVL is currently…

Block Inc., the blockchain and payments firm led by Twitter founder Jack Dorsey, confirmed to CoinDesk that it has begun laying off employees this week as part of the company’s previously disclosed plan to cut headcount by as much as 10% by the end of 2024. Block, whose companies include Square Inc., Cash App and Tidal, as well as the bitcoin-focused division TBD, said in an earnings call last year that it would reduce its headcount from 13,000 in the third quarter of 2023 to an “absolute cap” of 12,000 by the end of this year. In a memo to…