Author: NBTC

Solana traders are quickly embracing the newest stablecoin to join their decentralized finance (DeFi) fray: USDS, issued by Sky (formerly MakerDAO). Less than a day into launch, USDS’s circulating supply on Solana has already surpassed $89 million. Such launch day largesse puts the coin formerly known as DAI well ahead of the other recent entrant, PayPal’s PYUSD, as Solana’s fastest-growing stablecoin out of the gate. The heady growth is about as preordained as anything could be in DeFi. Sky is spending $2 million a month to incentivize traders that swap into USDS and deploy it, said Rooter, the pseudonymous leader…

The meme coin sector rallied substantially in the past several months, with its market capitalization briefly surpassing $70 billion a few days back. Currently, the figure stands at around $64 billion following the latest correction. According to CoinGecko, there are more than 2,300 meme coins, with some taking center stage due to their price swings as of late and other reasons. In the following lines, we will focus on five intriguing assets that may experience enhanced volatility in the next 30 days. Dogecoin (DOGE) The leading meme coin in terms of market cap has been at the forefront of gains…

In the evolving world of online trading, cryptocurrency has rapidly emerged as a dominant investment class, pushing the boundaries of conventional financial markets. As a result, calls for regulatory oversight are growing louder. However, applying traditional financial regulation to crypto markets is not the best solution. Unlike conventional investment vehicles, cryptocurrencies operate within a decentralized and digital environment, which means they require distinct regulatory frameworks. The current regulatory systems were built for centralized financial institutions – like banks and brokers – which makes them ill-suited for the unique characteristics of cryptocurrencies. Government regulators often lack the necessary expertise and agility…

Archax adds money market funds from State Street, Fidelity International and Legal and General Investment Management to its platform. Tokenized assets will be available on Hedera Hashgraph, XRPL and Arbitrum. Archax, a U.K.-regulated crypto exchange and custodian, has added funds from State Street, Fidelity International and Legal & General Investment Management (LGIM) to the range of tokenized real-world assets (RWAs) that it offers, the company said in a press release Wednesday. The firm will initially provide tokenized access to certain State Street Global Advisors, Fidelity International and LGIM money market funds. Other types of funds may also be added in…

Leading decentralized finance (DeFi) protocol Aave has achieved a remarkable milestone, hitting $10 billion in active loans. It marks a 300% rise in lending activity from the start of the year when the figure stood at $3.4 billion. DeFi Renaissance Data from the on-chain DeFi tracking platform Token Terminal shows that in the last 30 days, active loans on the platform increased by 16.4% to reach $10.04 billion. At the same time, its total value locked (TVL), which is the overall value of crypto deposited on the protocol, went up by 26.7% to $15.96 billion. Looking at other metrics, fees…

In a landmark decision highlighting the unique aspects of blockchain technology, an S.D.N.Y. Bankruptcy Judge ruled in favor of Celsius’s motion for alternative service, whereby Celsius sought to provide legal service by airdopping non-fungible tokens (NFTs) to anonymous defendants’ digital asset wallets. The following opinion editorial was written by Alex Forehand and Michael Handelsman for Kelman.Law. Judge Approves Celsius’s NFT Airdrop for Legal Service In the wake of the cryptocurrency exchange’s insolvency, its bankruptcy estate filed suit seeking to void allegedly fraudulent transfers and recover additional funds for its creditors. Due to the pseudonymous nature of the technology, however, Celsius…

Cardano (ADA) increased 4.13% on Friday, November 1, amid discussions about the upcoming Chang Phase 2 hard fork. Crypto users are discussing the upgrade and its potential effect on the Cardano blockchain. ADA’s recent surge follows an upward price movement that began on October 25, after the crypto token bounced off support at $0.315. The cryptocurrency rallied over 15% to reach a $0.364 local high before pulling back. However, bullish momentum has returned to ADA as the Chang Phase 2 hard fork gains attention. In the meantime, Cardano’s development company, EMURGO, said the second phase of the Chang hard fork…

Ripple CEO Brad Garlinghouse has joined the list of critics of Robert Stebbins, former General Counsel for the Securities and Exchange Commission (SEC). In his social media post, Garlinghouse said that picking Stebbings as the next SEC boss would be “unconscionable” due to his involvement in the controversy revolving around the Director of Corporation Finance William Hinman’s 2018 speech that recognized Ethereum as a non-security. “In a group of strong candidates for SEC Chair, it’s unconscionable to consider someone directly involved in Bill Hinman’s unethical (likely illegal) push to pick winners and losers in crypto,” Garlinghouse said. Stebbins recently emerged…

Expanding to Ethereum will help GraFun capture newer audiences, tap into higher liquidity for meme issuances and increase the platform’s visibility among crypto traders. GraFun uniquely offers a “Fair Curve” model that developers say minimizes rug-pull risks. BNB Chain-based memecoin issuance platform GraFun is expanding to the Ethereum network on Wednesday, the project’s developers shared with CoinDesk. GraFun uniquely offers a “Fair Curve” model that developers say minimizes rug-pull risks, reduces price manipulation and ensures fairer token issuances that result in fewer users losing money. Memecoin behemoth Floki owns over 40% of GraFun, and other backers include DWF Labs. “In…

The price of Bitcoin (BTC) faced a rejection around the $69,000 level. Since then, it has dipped toward the $66,000 price range. While some may consider it a bearish move and create FUD on the market, many consider it a healthy price correction. There is still optimism on the market, with many expecting a new Bitcoin price all-time high (ATH). Prominent analyst Michaël van de Poppe is also bullish on Bitcoin. Earlier today, he gave a bold Bitcoin price prediction, injecting more positivity into the community. The analyst acknowledged that the BTC price has faced a dip. But he believes…