Author: NBTC

Bitcoin has surged to nearly $70,000, its highest level since mid-June, standing at just over $69,500 at press time. According to crypto analysis firm IntoTheBlock, almost all Bitcoin holders are now in profit. If the minimal on-chain resistance and balanced market sentiment continue in the coming weeks, conditions look favorable for more growth, the company said. The bullish trend has also driven gains across the market. CryptoSlate data showed major digital assets like Ethereum, Solana, and Binance-backed BNB have all increased by over 4% in the past 24 hours. What drove the Bitcoin price up? While Bitcoin’s price remained stable…

Funding rounds are slower, but Paradigm and a16z continue to expand their influence among crypto projects. The two funds are on track to close $1B in deals in the year to date. VC funding is still shaping the crypto landscape, with the biggest influence coming from Paradigm and Andreessen Horowitz, also known as a16z. The funds not only bring new projects to maturation, but can influence some of the existing ones through voting. Investments do not equal endorsement, yet the two funds also participate in a long list of relatively small projects. VC backing brings faster development to projects, but…

Worldcoin is on a mission to verify the identity of every human on Earth, one iris at a time. This bold vision was showcased in mid-May in the picturesque city of Nuremberg, Germany, where the company demonstrated its advanced Orb technology. The initiative, according to a recent report from Bloomberg, aims to ensure that every individual has a unique digital identity through a scan of their iris. Nuremberg, a city more renowned for its historical charm than high-tech innovation, became the unlikely stage for this technology. At Josephs, a future-themed retail store located just off the main street, visitors encountered…

Efforts to improve Bybit’s worldwide compliance have made great progress. Over 130 million wallet addresses over 30+ chains have been integrated by the platform’s Web3 team. Bybit has solidified its place as the chosen platform for millions of crypto enthusiasts and traders globally, and the latest astounding feat shows its fast expansion. As its registered user base approaches 50 million globally, Bybit, the world’s second-largest crypto exchange by trading volume, is happy to celebrate a huge milestone. Efforts to improve Bybit’s worldwide compliance have made great progress. In important markets including Dubai, the Netherlands, Turkey, and Kazakhstan, the platform has…

Bitcoin is the undisputed king of crypto but if you ask many DeFi enthusiasts, they may well tell you that it’s next to useless, despite its enormous value. That’s because Bitcoin, although considered to be a reliable store of value and an increasingly accepted means of payment, has some serious limitations that preclude its use in other applications. The problem stems from Bitcoin’s lack of programmability. Its underlying blockchain is built using a less sophisticated scripting language, and so it cannot support the smart contracts that are such an important feature of traditional DeFi blockchains, such as Ethereum and Solana.…

Turkey has shelved plans to impose taxes on profits from stock trading and cryptocurrency investments, according to statements by Vice President Cevdet Yılmaz published on Bloomberg. Speaking to Bloomberg today, Yılmaz said that an additional tax package is not on the agenda for 2024, easing concerns among investors. “We don’t have a share tax on the agenda. It has been discussed before and has been dropped from our agenda,” he said. Instead, the government will focus on narrowing existing tax breaks as part of its broader economic strategy. Earlier this year, the idea of taxing stock market profits sparked a…

Pump.fun is a Solana-based platform that enables users to create and trade meme coins with ease. Since its inception in January 2024, the platform has garnered significant attention within the crypto community, particularly among those interested in meme coins. As of mid-2024, Pump.fun has facilitated the creation of over 1.6 million meme coins, becoming a popular choice for both casual crypto enthusiasts and serious traders looking to capitalize on the meme coin craze. Additionally, the platform has generated more than $58 million in cumulative revenue. Currently, the platform boasts a significant following, with over 111,000 active users, reflecting its widespread…

WazirX has been granted a four month moratorium under certain conditions. The Indian cryptocurrency exchange lost $234 million, some 45% of customers’ funds, in a hack in July. A Singapore court has granted Indian cryptocurrency exchange WazirX a four-month moratorium based on certain conditions on Thursday, an industry source told CoinDesk. The conditions imposed on WazirX include revealing the addresses of its Wallets through a court affidavit, responding to users’ queries, revealing its book of accounts within six weeks, and ensuring that any future voting on the way ahead is conducted on an independent platform. CoinDesk reached out to WazirX…

In his recent salvo of criticism against Bitcoin (BTC), American economist Peter Schiff has warned that it was in China’s interest to see the United States spending its resources on buying up the maiden cryptocurrency while the East Asian nation focuses on other matters. Specifically, commenting on former U.S. President Donald Trump’s arguments that America had to dominate the Bitcoin industry or China would, Schiff voiced his opinion that “China has no interest in Bitcoin” as it has “already made mining it illegal,” according to his X post on July 27. Moreover, the renowned financial analyst observed that instead of…

As far as expressions of crypto mentality go, leverage and prediction markets are about as pure as they come. Luckily, protocols are now marrying the two — enabling traders to ramp up bets on Polymarket outcomes using borrowed crypto capital. Onchain perp platform D8X, which runs on Polygon zkEVM, X Layer and Arbitrum, is the latest. It launched five leveraged orderbook markets based on Polymarket data, D8X told Blockworks exclusively. Development of the markets was first made public in July. D8X itself is a white-label engine for managing perpetual futures markets onchain. While the Switzerland-based team behind the protocol, Quantena…