Author: NBTC
Demand for Bitcoin ETFs is only beginning to ramp up, with some of the market’s largest players yet to begin buying, according to crypto asset manager Bitwise. Bitwise CIO Matt Hougan made a post on X on Tuesday outlining investor groups that generally have already bought, versus those who “will be buying bitcoin ETFs soon.” Hidden Demand For Bitcoin ETFs In the latter category were some of the world’s largest potential sources of demand, including “wirehouse advisors,” “corporations,” and “institutional consultants.” Investors who are buying bitcoin ETFs today: * Retail investors* Registered Investment Advisors* Family offices* Hedge funds* Venture capital…
The Ethereum network is poised for a transformative shift with the imminent launch of the Dennison upgrade today at 1:55 p.m. UTC, marked by the implementation of EIP-4844. This improvement is set to usher in a new era of efficiency, propelling Ethereum’s utility and accessibility to the next level by significantly reducing gas fees, especially on Starknet. What is EIP-4844, and how will it change the game? In essence, it introduces a novel concept known as “blob” transactions, which utilize a distinct “blob” resource separate from traditional gas. This segregation is revolutionary; it means that Ethereum users and rollup operations…
Venture capitalist and famed SPAC-enjoyer Chamath Palihapitiya appeared quite chipper about his recent AI VC play Groq on the All-In podcast this past week. However, all was not well behind the scenes for his fund, Social Capital. In a cryptic tweet, Social Capital said “We have terminated the employment of two of our employees due to employee-specific circumstances. We have no further comments at this time.” According to reporting from the Financial Times, Palihapitiya fired two of his partners, Jay Zaveri and Ravi Tanuku, and hired law firm Wachtell Lipton to investigate them. It’s unclear what the pair are being…
Taiko, a layer-2 scalability solution for the Ethereum blockchain, has just closed a $15 million Series A funding round led by Lightspeed Faction, Wintermute Ventures, GSR, and other Venture Capital firms. The money will be used to develop the emerging network, which will go live on mainnet in the coming months. Additionally, part of the funds raised could be dedicated to an incentive program through an airdrop, distributing the new native crypto of Taiko to all the first users of the chain. All the details below. Taiko: Ethereum’s layer 2 announces $15 million Series A funding round Taiko could launch…
Bitcoin plunged on Tuesday shortly after the number one cryptocurrency by market capitalization hit a new all-time high of $69,170 earlier that morning. The weeks-long climb in Bitcoin’s price, sparked largely by the approval of Bitcoin ETFs in January, pushed Bitcoin past its all-time high set in November 2021. Crypto Twitter was in a state of euphoria—before the price of Bitcoin went into freefall. According to CoinGecko, Bitcoin plummeted 12% to just above $60,000 in five hours. It’s shakily recovered somewhat to trade at $63,515 at time of writing. While harrowing, the post-peak dip is not entirely unexpected. When today’s…
Ethereum’s much-awaited Dencun upgrade is ready to be deployed on the Ethereum mainnet at epoch 269568, after successfully activating the Dencun network upgrade on all testnets. The Dencum upgrade is estimated to happen at around 2 pm UTC, as per the Ethereum Foundation. The sentiment surrounding the Dencun hard fork has caused ETH price to surpass $2500 and even $4,000. The traders are now eyeing ETH price to hit $5000 after the upgrade. Ethereum Price to $5000 The Ethereum Dencun upgrade is a major advancement that will have a broader impact on the Ethereum ecosystem. The upgrade will finally deeply…
Around one fifth of American registered voters say they have purchased cryptocurrencies, according to a new survey from crypto investment firm Paradigm. Of the 19% of voters who say they have bought crypto, 19% self-identified as Democrats and 18% as Republicans, the poll found. 24% of crypto-owning voters are independents. The figure lines up with a December study from Grayscale, which found that 19% of voters held crypto. Of this group, 23% were men and 31% were Gen Z. “I’ve seen it suggested that saying 20% of voters own crypto is misleading because they likely nearly all only own a…
Stellar platform is designed to connect financial institutions and facilitate the transfer of digital currencies and assets quickly. Stellar conducts operations under a distributed ledger network. Stellar Consensus Protocol is one key aspect that makes stellar platforms stand out among other cryptocurrencies like Bitcoin and Ethereum. This unique consensus protocol settles transactions within 2-5 seconds. Besides speed and efficiency, it also supports issuing and exchanging tokenized assets. The versatility of the Stellar ecosystem is designed to cater to every user, including users who want to make cross-border payments smoothly or investors interested in making investments in the XML token economy.…
Miners appear to have just sold long-dormant bitcoin, sourced from old block rewards, right when BTC plunged from its record high on Tuesday. Given the market’s thin liquidity, it could have had an outsized impact on bitcoin’s price. Bitcoin’s rapid price ascent during the last month, which culminated in a new all-time high and quick reversal on Tuesday, has meant that some early miners have started selling their old block rewards – putting pressure on bitcoin’s price. On-chain data spotted by CryptoQuant shows that, just before bitcoin peaked at new highs around $69,000 and then plunged to $62,000 on Tuesday,…
Ethereum’s much-anticipated Dencun upgrade went live Wednesday morning without a hitch, ushering in a new chapter for the blockchain that is poised to substantially lower transaction costs across Ethereum layer-2 networks and massively expand the blockchain ecosystem’s capabilities. Just before 10 a.m. EST, the Dencun upgrade was successfully implemented. It will now take a period of about a month or two for settlement contracts across all layer-2 networks to incorporate the update. Once they do, gas fees on layer-2 networks should immediately fall by 75%, Terence Tsao, a developer of Ethereum layer-2 network Arbitrum, previously told Decrypt. Screenshot of Ethereum…