Author: NBTC
BingX, a prominent cryptocurrency exchange, celebrated its sixth anniversary on May 20 by announcing an ambitious global expansion strategy called “ExpansionX.” Under the theme “Amazing Six,” the exchange commemorated this milestone with a grand prize pool of 13 million USDT. Supporting 18 languages and a global user base of 10 million, BingX has strengthened its leadership with notable growth in perpetual futures trading volume and the listing of 750 tokens on its spot trading platform. The “ExpansionX” initiative aims to broaden BingX’s influence in the cryptocurrency industry, further solidifying its presence. Diverse Product Offerings and Technological Innovation Continuous Innovation and…
Bitcoin briefly dropped below $60,000 for the first time in more than a month. It was noteworthy that the decline occurred before the halving, which is expected to occur in a short time. Bitcoin price fell as much as 5% to $59,888 before recouping some of its losses. This event, known as the “halving,” occurs every four years and has traditionally been seen as a positive catalyst for Bitcoin prices. This event reduces the supply of new tokens from the blockchain, theoretically increasing the value of existing tokens. However, concerns that the effects of the halving may have already been…
How much worse could things get? In mid-January, perhaps convinced that the bottom was in, an anonymous NFT trader swept up over 100 Bored Ape Yacht Club NFTs once the collection plummeted to startlingly low prices not seen since 2021. But in crypto—and these days, especially in NFTs—things can always get worse. Since January, the entry-level price for Bored Ape NFTs has nosedived even further, leaving the unlucky trader with millions of dollars in losses, as spotted by pseudonymous crypto trader and influencer Cirrus over the weekend. Over the course of a few weeks in mid-January, the trader used popular…
Industry watchers seem to agree that if US regulators approve spot ether ETFs, it would be a bullish development for the asset. What’s more, they believe that even if these ETFs are not approved, the impact on the market will not be significantly negative. That is in part due to market participants’ low expectations that the Securities and Exchange Commission will approve such funds this time around. The SEC has until May 23 to rule on a proposed ETH fund by VanEck. Its deadline for a similar planned offering from Ark Invest and 21Shares is the next day. Segment observers…
In a recent statement, Coin Bureau CEO Nic Puckrin highlighted a potential catalyst in the cryptocurrency market that has been largely ignored. This catalyst involves cryptocurrency enthusiasts raising $14 billion in fiat money and potentially reinvesting that money into crypto. It’s been nearly two years since FTX’s collapse, and the landscape has changed significantly since then. The primary development is the bankrupt company’s plan to repay 118% of all creditor dollar demands, a staggering $14.5 billion. This money will go to people who have already invested in crypto, according to the analyst. While some FTX creditors may choose to hold…
Since the introduction of USDT on the TON blockchain, the supply of this stablecoin has grown by over 70 million within just two weeks, totaling 130 million. While USDT operates across multiple blockchains, its presence on TON has positioned it as the eighth largest in terms of circulating supply. TON Blockchain Sees 70 Million Increase in Tether Token Supply Since its debut on the TON network two weeks ago, the tether (USDT) supply issued on TON has increased to 130 million. Initially announced at the Token2049 event in Dubai, it was projected that 60 million tethers would be issued at…
While Binance, the world’s largest cryptocurrency exchange, continues its altcoin listings at full speed, it significantly moves the price of the relevant altcoin with its listings. While investors were looking forward to Binance listing new altcoins, a new statement came from the exchange regarding the altcoin listing policy. At this point, Binance stated that it is considering listing cryptocurrencies that do not have a high market value but attract the attention of the masses. “Binance is committed to promoting a healthy and sustainable market environment and always putting our users’ interests first. In recent months, we have observed a trend…
CryptoPunks is arguably the most iconic and influential profile picture (PFP) collection in the NFT world, and after getting the project into museums, Yuga Labs has been trying to expand their entry into the art world by letting notable artists riff on the IP with the official Punks stamp. But the first effort, revealed Monday with the launch of a new Punks-branded NFT collection, faced immediate backlash from collectors and crypto observers alike—including claims of “woke” artwork, sometimes accompanied by personal attacks on the artist. Now Yuga is pivoting, and apparently abandoning future plans. Artist Nina Chanel Abney was previously…
Bloomberg ETF analysts Eric Balchunas and James Seyffart increased to 75% their odds of a spot Ethereum exchange-traded fund (ETF) being approved in the US. The previous odds were 25%. As a result, Ethereum (ETH) leaped 8.3% after the news. Previously, both analysts explained that the low odds were related to the lack of background noise made by the SEC asking players about the ETF approval. However, due to political issues, Balchunas stated on X that the US regulator will “be doing a 180 on this.” Moreover, the odds at 75% are substantial, since Seyffart and Balchunas are still waiting…
In recent years, China has embarked on an ambitious journey to redefine its role in the global financial landscape, leveraging technological advancements to potentially reshape how global transactions are conducted. Central to this initiative is the pilot program for the e-CNY, China’s digital currency, which is now making its way into overseas markets, notably in Hong Kong, for retail use which was announced in May 2024. This move mirrors China’s previous efforts to expand the reach of its payment solutions, such as UnionPay and Alipay, which have had mixed success abroad. The path forward for the e-CNY is shrouded in…