Author: NBTC

Data confirms BlackRock’s Bitcoin ETF is rapidly closing in on its Gold ETF in assets under management (AUM) despite launching just nine months ago. Amid gradual recovery of the primary crypto, Bitcoin, BlackRock’s iShares Bitcoin Trust is quickly closing the gap with its long-established iShares Gold Trust in assets under management. Steno Research’s senior crypto analyst Mads Eberhardt described this emerging trend as “the real flippening.” The rapid rise of the Bitcoin ETF is impressive, especially when compared to the relatively stable performance of BlackRock’s Gold ETF. For context, BlackRock introduced its iShares Gold Trust (IAU) in January 2005. Over…

Shibarium stunned many observers with its massive transaction count blowout last week. At its peak, the Ethereum-based layer-2 scaling solution saw its transaction count jump as high as 4.77 million, a new yearly high for the protocol. In an unusual twist, this massive count is fading off, per data showcased on Shibariumscan. Why is Shibarium transaction count falling? According to the Shibarium scan data, the transaction count dropped from a high of 4.76 million on Oct. 26 to its current level of 699,690, an 85% plunge in 24 hours. The community is behind the majority of transactions registered on Shibarium.…

Cryptocurrency transactions are often anonymous, but they’re not private. In fact, they’re quite public. Anyone with the right technical know-how can see every transaction ever made on most publicly accessible blockchains. This radical transparency and traceability has made it easier (contrary to popular belief) for law enforcement to track stolen and laundered cryptocurrency across various transactions. But it has also made it easier for criminal crypto actors to trace certain transactions, and — by collecting enough data points — recognize the real-world identity of crypto users who would otherwise remain anonymous. Dramatic stories abound about violent home invasions targeting those…

In a tweet earlier today, Nischal Shetty, founder and CEO of WazirX, India’s embattled crypto exchange, revealed a key detail of the company’s ongoing restructuring efforts. Shetty confirmed that WazirX will distribute assets to users in crypto tokens, not fiat or stablecoins. WazirX’s Distribution Plan Pending approval of the proposed restructuring scheme, users will receive a proportional share of liquid assets based on their token holdings as of July 18, 2024. The plan addresses outstanding creditor claims and ensures distributions match users’ holdings on that date. “Distribution will be in tokens (as currently visible in your portfolio),” Shetty tweeted. He…

Switzerland’s Canton of Bern parliament has approved a proposal to explore Bitcoin mining as a solution to excess energy utilization and power grid stabilization. Samuel Kullmann, a member of the Grand Council, said the motion was adopted on November 28 with a decisive vote of 85 to 46, backed by multiple politicians in Bern. “Even though the debate was heavily influenced by classic FUD arguments and missed the point, the proposal ultimately found a clear majority,” said Kullmann, adding that some traditionally conservative parties supported the initiative. “The outcome clearly demonstrates that the narrative on Bitcoin is changing.” The proposal…

Anthony Pompliano, well-known Bitcoin advocate and CEO of Professional Capital Management, has made a brave prediction regarding the future of Bitcoin and its relationship to Wall Street. Speaking on “The Big Money Show,” Pompliano emphasized that traditional finance players are overthinking the simplicity of the cryptocurrency, which in his opinion will ultimately lead to a massive shift of capital into Bitcoin. As the price of the major cryptocurrency hovers around the crucial $68,000 mark, with potential for growth toward $70,200, Pompliano highlighted the core principles that make Bitcoin a standout investment. Its fixed supply of 21 million coins and resistance…

David Schwartz, CTO of Ripple and one of the main people behind XRP Ledger (XRPL), recently spoke about some concerns the XRP community has been having about the need for XRP to facilitate transactions on the ledger. These concerns came up as Ripple prepares for the launch of RLUSD, a stablecoin that the company introduced to expand its service offerings. With the upcoming deployment, some people started wondering if XRP was still needed on XRPL. Schwartz explained why XRP is still needed in the infrastructure, pointing out that it is particularly important for keeping the network safe from spam attacks.…

The Economic Secretary to the Treasury said at the Tokenization Summit that the UK government is continuing to press on with the integration of traditional finance and crypto assets Tulip Siddiq, the Economic Secretary to the Treasury talked about distributed ledger technology (DLT) in her keynote address. She said DLT is part of a wider strategy to ensure the UK retains its place as a leading world financial center. Furthermore, the Bank of England and the Financial Conduct Authority launched the Digital Securities Sandbox in September as part of their strategy. Tulip shared that “The Digital Securities Sandbox is a…

Coinbase will halt rewards for USD Coin (USDC) holders located in the European Economic Area (EEA) on Dec. 1 due to the upcoming Markets in Crypto-Assets (MiCA) regulation, according to an email sent to customers on Nov. 28. The exchange said the move is a result of the new requirements for e-money tokens, which is how stablecoins are labeled under MiCA. Users will continue accruing yield with their USDC balances until Nov. 30, with the value paid within the first 10 business days of December. Coinbase’s USDC rewards program is available in over 100 jurisdictions. It generates daily yields over…

On Thursday, Bitcoin (BTC) network miners saw their total revenue surge to a two-month high. Notably, this uptick coincided with a remarkable day of HODLing, as miners refrained from selling their holdings for the first time in the past month. As Bitcoin approaches its all-time high of $73,764, the decline in miner sell-offs indicates a bullish trend. This suggests that this milestone could be within reach in the near term. Bitcoin Miners Hold Still Yesterday, the miner revenue on the Bitcoin network totaled 552 BTC, valued above $37 million at current market prices. Per Glassnode’s data, this marked its highest…