Author: NBTC

The Bitcoin mining industry is facing some tough times, with the average cost to produce a BTC reaching $96,100 for publicly traded miners when including non-cash costs such as depreciation and stock-based compensation, according to a report by CoinShares analyst James Butterfill. As the data shows, average cash costs rose to $49,500 per BTC in Q2, 2024, up from $47,200 in Q1, and there’s no stopping it. The reason is that mining conditions are becoming more complex and capital intensive. According to reports, miners are still expanding their infrastructure despite high production costs and increasing difficulty. They are hoping that…

OpenEden, a platform focused on tokenizing real-world assets (RWA), recently experienced a significant drop in its total value locked (TVL) following allegations against its co-founder, Eugene Ng. As a growing name in tokenization, OpenEden has attracted industry heavyweights like Ripple and Binance. The platform aims to deliver a cost-effective and accessible way for investors to tap into tokenized treasuries, offering blockchain-based access to traditional financial assets. Why OpenEden’s TVL Declined by Around $30 Million According to DeFillama data, OpenEden’s TVL dropped sharply from around $153 million to $123 million on November 1. However, the metric has rebounded slightly to $134.5…

Metaplanet’s Bitcoin adoption has sent its stock soaring around 1,017% so far this year, making it the best-performing Japanese stock in 2024, according to Simon Gerovich, the company’s CEO. 日本で最も上昇した上位20銘柄Top 20 Best Performing Stocks in Japan pic.twitter.com/88zjfFp2Ee — Simon Gerovich (@gerovich) November 1, 2024 The company, which began its Bitcoin initiative in April, has established itself as one of Asia’s largest corporate Bitcoin holders. Share prices jumped 740% in six months, climbing from $190 in April to $1,596 at Friday’s market close, according to Yahoo Finance data. Once struggling to revive its stagnant business, Metaplanet has transformed itself into a…

The announcement of Binance listing First Neiro on Ethereum (NEIRO) for spot trading triggered a massive 700% price surge, catapulting its market cap from $15 million to $146 million in a day, with trading volumes skyrocketing from $8 million to over $220 million. Binance’s decision to list two different NEIRO tokens, one for futures and another for spot trading, each with distinct contract addresses, has led to community backlash and confusion over which token represents the “true” NEIRO. NEIRO, inspired by Neiro, a Shiba Inu related to the Dogecoin mascot Kabosu, has spawned multiple tokens across blockchains. Despite the community’s…

Craig Wright, who is not Satoshi, attended a court hearing today concerning a contempt application filed by the Cryptocurrency Open Patent Alliance (COPA). The judge scheduled the contempt hearing for Dec. 18, with discussions on whether Wright must appear in person and potential cross-examination. BitMex Research provided a live transcript of the court proceedings, during which the judge addressed Wright’s objection to a stay in the claim against Square Up and other defendants. Wright initially resisted but conceded after the judge clarified that a short stay would not affect the trial date. The judge ruled to stay the claim against…

A cryptocurrency trading expert is warning that Bitcoin (BTC) might be preparing for a major crash following a deceptive rally in which the asset failed to reclaim its previous record high. This outlook comes as Bitcoin continues to consolidate below the $70,000 resistance. Alan Santana observed that Bitcoin is flashing warning signs after showing a rare pattern of five consecutive red days, a movement that hasn’t occurred since May 2023, as he noted in a TradingView post on November 3. While Santana acknowledged that Bitcoin has faced significant downside risk for a while, the current chart pattern shows a “rounded…

The Nexo app is an innovative platform that combines the functionalities of centralized finance (CeFi) and decentralized finance (DeFi), allowing users to manage, exchange, and earn interest on their crypto. Founded in 2018, Nexo has established itself as a comprehensive ecosystem for those looking to maximize the potential of their digital assets, offering services such as crypto wallets, secured credit lines, and payment cards for cryptocurrencies. How the Nexo crypto app works Security and reliability How the Nexo crypto app works The Nexo app allows users to buy, exchange, lend, and earn interest on over 60 cryptocurrencies. To get started,…

VanEck’s head of digital assets research, Matthew Sigel, criticized a recent US Treasury Department’s views on digital assets in a recent report, claiming it had an anti-stablecoin stance based on outdated academic views. Sigel stated that the Treasury relied on a single academic study by Gary Gorton and Jeffery Zhang to justify a preference for centralized financial systems. Additionally, he said the study’s US-centric historical analysis promotes a “recycled narrative” that private money is inherently unstable, deeming it misleading. Sigel added: “History from other countries shows that private currencies don’t automatically lead to instability — when the right checks and…

report. HBAR Price Impact With Hiero, the Linux Foundation now has access to the full suite of Hedera’s core network software, including wallets, decentralized exchanges (DEXes), SDKs, and cryptographic solutions. This could attract more developers and enterprises to the Hedera network. Moreover, it could potentially increase the adoption and strengthen the use cases for the HBAR token. Adkins noted, “Hiero will foster a rich ecosystem of developers, innovators, and enterprises, driving forward critical applications for the Hedera network.” The potential impact on HBAR price is noteworthy. With more developers and enterprises entering the Hedera ecosystem through the open-source Hiero project,…

This is a segment from the Empire newsletter. To read full editions, subscribe. Hold your horses. While some folks around crypto think we could see the bullish rally take off after we get the election results, Empire’s Jason Yanowitz isn’t so sure. In Friday’s Roundup, he said that he doesn’t think we see the markets “rip” until potentially January or even February. “There could be more uncertainty” in November and December, he added, pointing out that he thinks the election results could be close. “Both sides are already prepping for an all-out war to contest the election,” Yanowitz said. Last…