Author: NBTC

Backpack Exchange records $60B trading volume, now integrates Sui for multichain growth. Sui gains Backpack wallet support, enabling secure storage and seamless asset management. Sui ranks 8th in TVL at $1.5B as integrations with Backpack and Phantom boost adoption. Backpack, a popular wallet and exchange platform, has partnered with Sui, a Layer 1 with esteemed scalability and speed. This integration will enhance the utility and ease of assets for users worldwide. Backpack, a trading platform that targets users in over 150 countries, has conducted over $60 billion in trading volume since its launch a year ago. This collaboration helps Sui…

Bitcoin (BTC) traders could be in for another thrilling ride. A key technical indicator that presaged November’s price surge is positioned precisely as it was then, signaling a potential volatility explosion ahead. That indicator is the Bollinger bandwidth, a tool used to gauge impending changes in market jumpiness. For bitcoin, the bandwidth has narrowed to less than 10%, a level not seen since Nov. 4, the day before the U.S. elections. The largest cryptocurrency subsequently surged to $100,000 from $70,000 in four weeks. Bollinger bands mark levels two standard deviations above and below the 20-day moving average of an asset’s…

Solana’s nearly $500 million decentralized finance (DeFi) derivatives market is getting a new participant, one that’s looking to take a slice of all the other venues’ pies. Ranger Finance is an aggregator service that wants to be for perpetual futures what Jupiter is to spot swaps: Solana traders’ de-facto homepage for an entire category of on-chain trading. “We want the Solana ecosystem to compete with your massive decentralized exchange (DEX) players — Hyperliquid, dYdX, Vertex — and currently the best way to do that is via aggregation,” said Ranger co-founder Barrett, a DeFi veteran who also runs the biannual mtnDAO…

Ethereum’s price has struggled to close above the $4,000 mark for the second time in the last six months. Despite rallying close to this key psychological level, ETH was unable to maintain its position, signaling the need for a stronger bullish conviction to push the price past this barrier. The failure to sustain above $4,000 suggests that investors are hesitant, with profit-taking likely playing a key role in halting the momentum. Ethereum Whales Accumulate Whale addresses holding between 10,000 and 100,000 ETH, which have demonstrated strong accumulation over the past five days, purchasing a combined total of 400,000 ETH worth…

The XRP community is discussing the potential introduction of native staking or lending functionalities on the XRP Ledger (XRPL). Despite being over a decade old, XRPL lacks these features, forcing XRP holders to rely on third-party platforms for yield-earning opportunities. This conversation is now gaining traction, with key voices from the XRP ecosystem making contributions. Introducing Native Staking on the XRP Ledger Most recently, Mickle, an XRP community figure, proposed the idea of XRP staking, suggesting someone take up the challenge of making it a reality. He pointed to Babylon Labs, a Bitcoin staking protocol, as an example of how…

Acceptance Covers USD₮ on Ethereum, Solana, and Avalanche Blockchains; Enhances Opportunities for Licensed Entities in ADGM 10 December 2024 – Tether, the largest company in the digital assets industry, has announced the acceptance of USD₮ by the Financial Services Regulatory Authority (“FSRA”) as an Accepted Virtual Asset (“AVA”) in the Abu Dhabi Global Market (“ADGM”). This approval enables Authorised Persons operating and licensed by the FSRA to offer pre-approved services related to USD₮, advancing the region’s leadership in digital asset innovation. This announcement comes amid the rising adoption of digital currencies in the United Arab Emirates (UAE), reflecting the nation’s…

Cronos, a leading blockchain ecosystem and the first blockchain that interoperates between Ethereum and Cosmos, has announced the Cronos EVM v1.4.0 Pallene upgrade, which enables parallel transaction processing to increase transaction speed by up to 600 times, as shared with Finbold on Thursday, December 12. ⚡Upgrade complete: Pallene is here! Cronos EVM is now running 600x faster with up to 60,000 TPS — setting the stage for a new era of scalability.Learn more about Pallene upgrade: https://t.co/kL2HDlMkuU https://t.co/0M67bU39Uq — Cronos (@cronos_chain) December 12, 2024 The new feature implements Block-STM technology to enhance the blockchain’s scalability by allowing parallel transactions within…

SparkDEX has officially launched SparkDEX Eternal, the first perpetual decentralized exchange (Perp DEX) on Flare, based on information shared with Finbold on Thursday, December 12. SparkDEX Eternal is LIVE ON @FlareNetworks! 🔥 pic.twitter.com/wZb8lNZ2vE — SparkDEX (@SparkDexAI) December 11, 2024 SparkDEX Eternal enables users to incorporate perpetual contracts into their trading strategies and provides them access to opportunities with various assets without owning the underlying instruments. Fast decentralized data delivery Flare’s Flare Time Series Oracle (FTSO) allows for fast and accurate decentralized data delivery required for perps trading. SparkDex founder Steve stated: “The FTSO’s rapid 1.8-second price feed updates ensure precise…

Ethereum has shown resilience in the face of recent market challenges, as evidenced by the consistent positive net flows into the asset’s exchange-traded funds. According to data from Farside Investors, daily inflows into spot Ethereum (ETH) ETFs in the U.S. surged to $305.74 million, bringing cumulative inflows to an impressive $1.87 billion. This substantial growth occurred despite Ethereum price experiencing a 7% decline over the past three days. These investment products saw their highest cumulative weekly inflow last week. Interestingly, inflows have been consistently positive throughout December, confirming strong institutional interest. For instance, Dec. 6 recorded $83.76 million in inflows,…

South Korea’s Democratic Party of Korea (DPK) is moving to abolish the capital gains tax on financial investments, with a decision expected during the National Assembly’s final regular session on December 10. The proposal is part of a larger effort to strengthen the country’s financial markets and stimulate economic growth. Governor Lee Bok-hyun of the Financial Supervisory Service (FSS) voiced strong support for this plan, highlighting its potential to attract global investors and bolster South Korea’s competitive edge in global finance. Major Reforms on the Agenda for National Assembly December 10 marks the last regular session of the National Assembly…