Author: NBTC

Cathedra Bitcoin will pivot away from Bitcoin mining to providing general data center services and buying Bitcoin on the open market instead, the company said. Cathedra cited unpredictable profit margins as a cause for the shift. It was Michael Saylor whose MicroStrategy championed large corporations buying bitcoin (BTC) on the open market. Then, surprisingly, one of the biggest bitcoin mining firms, Marathon Digital (MARA), adopted the same strategy. And now another miner is following the same path. Cathedra Bitcoin (CBIT), a firm that started as a miner, said it’s changing its business model to develop data centers and will use…

In a groundbreaking move, Ripple minted 350,000 RLUSD stablecoins within 24 hours. The mint was done in two transactions of 300,000 RLUSD and 50,000 RLUSD as reported by Ripple stablecoin tracker, an XRPL community X account dedicated to tracking the minting and redemption of Ripple’s RLUSD. Ripple’s RLUSD stablecoin is currently in private beta on XRP Ledger and the Ethereum mainnet. 💵💵💵💵💵💵 300,000 #RLUSD minted at RLUSD Treasury.https://t.co/0ZRFRQ0jDz — Ripple Stablecoin Tracker (@RL_Tracker) September 28, 2024 In early August, Ripple started testing the RLUSD stablecoin on both blockchains. This phase, according to Ripple, is crucial for ensuring that the RLUSD…

The segment of meme coins is yet again outperforming all major cryptos despite some of the largest dog coins and cat coins losing value. All eyes of meme coin fans are on Arthur Hayes, here’s why. PEPE and BONK up, WIF and POPCAT down The largest frog coin Pepe (PEPE) and Solana’s bestseller Bonk (BONK) are the top performing meme coins today. With 6.6% and 6.7% respective gains, they are amid the 10 best performers in the top 100 cryptos by market cap, CoinGecko’s data says. Shiba Inu (SHIB) is 2.3% up, while Floki (FLOKI) added 1.3% in the last…

Monochrome Asset Management is preparing to launch Australia’s first spot Ethereum exchange-traded fund on Cboe following the asset’s long-anticipated approval in the U.S. market. Set to begin trading on Monday, Monochrome’s Ethereum ETF (IETH) follows the launch of its Bitcoin ETF (IBTC) in August 2023, which has since garnered $15 million (US$10.1 million). While that falls well short compared to the billions held in the U.S., the fund is positioning itself as the world’s first to offer in-kind Ethereum subscriptions and redemptions. It’s a feature that could allow for greater tax efficiencies, CEO Jeff Yew told Decrypt in an exclusive…

Over 224 million RON tokens have been staked by 285,083 unique delegators, showcasing community confidence. Pixels Online leads Ronin Network with 772,278 active users, highlighting its key role in Web3 gaming. The Ronin Network recently reached a significant milestone, with over 224 million RON tokens staked across 26 active validators by an impressive 285,083 distinct delegators. This increase in staking activity demonstrates the community’s growing trust and faith in the network’s potential, emphasizing its progress toward a more decentralized and secure ecosystem. The staking trend is crucial evidence of growing confidence in the Ronin Network’s goal and long-term viability. There…

Bitcoin started the week with a decline as markets prepare for the Fed’s expected rate cut this week. BTC price has lost approximately 3.70% of its value during the day and is trading at $57,800 at the time of writing. The first Fed rate cut in more than four years potentially signals looser financial conditions, which could benefit riskier assets like cryptocurrencies. However, investor sentiment remains cautious amid uncertainty over the size of the rate cut and how markets will react to Fed officials’ updated economic projections, known as dot plots, and Fed Chair Jerome Powell’s briefing on Wednesday. “The…

The Ethereum network has experienced a surge in activity over the past week, with a significant rise in daily active addresses and new accounts. However, despite this increase in network activity, ETH price has faced selling pressure, as traders continue to offload the altcoin, raising concerns about its short-term outlook. Ethereum Sees Rise in User Activity, But There Is A Catch Over the past seven days, user activity has spiked on the Ethereum network. According to Artemis’ data, the daily count of unique addresses that have completed at least one transaction on the Layer-1 blockchain has increased by 21% this…

In the past week, meme coins have been on a roll, with shiba inu (SHIB) leading the top five pack, gaining 35.5% against the U.S. dollar over seven days. However, the real standout was MOODENG, the meme token inspired by a baby pygmy hippopotamus from Thailand. The newly launched Solana-based coin hit its all-time high on Friday, climbing to $0.3387. By Saturday, MOODENG was cruising along at $0.3052. Meme Coin Market Booms Meme coins had quite the week, with the market jumping 8% against the U.S. dollar in the last 24 hours. As of noon Eastern Time on Sept. 28,…

As Bitcoin (BTC) grapples with a challenging market environment, it has struggled to regain momentum, hovering around the $53,000 and $60,000 levels for six consecutive weeks. After losing the crucial $70,000 threshold on August 1, the largest cryptocurrency remains at risk of further declines, particularly with the upcoming Federal Reserve (Fed) meeting on September 18, where a 0.50% rate cut could significantly impact its price. BTC’s Future Hangs In Balance Recent insights from crypto analyst Doctor Profit suggest that the market is closely divided, with equal chances—50%—of a 0.25% or 0.50% rate cut. However, Doctor Profit is confident that the…

Ethereum price started a steady increase above the $2,450 resistance. ETH is holding gains and might gain bullish momentum above $2,520. Ethereum started a steady increase above the $2,420 and $2,450 resistance levels. The price is trading above $2,440 and the 100-hourly Simple Moving Average. There is a key bullish trend line forming with support near $2,455 on the hourly chart of ETH/USD (data feed via Kraken). The pair must gain bullish momentum above the $2,520 and $2,550 resistance levels. Ethereum Price Regains Traction Ethereum price formed a base above the $2,350 level and started a fresh increase. ETH cleared…