Author: NBTC

Bitcoin suffered a significant correction in early European trading hours Tuesday, plunging from $70,000 to sub-$66,000 levels. The world’s largest cryptocurrency has since rebounded. At the time of writing, the Bitcoin price is currently $66,736.53, representing a 4.4% decline over the past 24 hours and means it’s now exactly where it was this time last week, according to data from CoinGecko. The sudden downturn has sent ripples through the crypto market, with Ethereum, the second-largest cryptocurrency, also feeling the pressure. At the time of writing, the Ethereum price is currently sitting at $3,352.94, down 0.6% in the same period, according…

Cega’s vault token market (VTM) eliminates the protocol’s 27-day lock-up period, allowing users to withdraw their USDC deposits when required. The new feature is available to market makers and yield farmers. On Tuesday, decentralized exotic-derivatives protocol Cega announced a new feature that gives users more flexibility in managing their investments and responding to changing market conditions. The Vault Token Market (VTM) will boost liquidity, utility and flexibility of users’ investments, Cega said in a press release shared with CoinDesk. With a total value locked (TVL) of over $10 million, Cega is the world’s third-largest decentralized exotic-derivatives protocol. It allows holders…

The Federal Reserve (Fed) aggressively slashed interest rates Wednesday, announcing the first rate cut since March 2020. The decision surprised some economists and policy experts. The Fed lowered its benchmark rate by 0.50 percentage points on Wednesday, or double the more typical 0.25 percentage point cut. This move marked a critical turning point in the Fed’s fight against the hottest inflation in 40 years. Market odds overwhelmingly supported a 25 basis point cut the week before the decision. So what happened? Was the Fed pressured into a larger rate cut? Fed Chair Jerome Powell said that the central bank is…

Today, enjoy the Lightspeed newsletter on Blockworks.co. Tomorrow, get the news delivered directly to your inbox. Subscribe to the Lightspeed newsletter. Howdy! If you haven’t yet heard, I’m now hosting the Lightspeed podcast as well as writing this newsletter. I’ve babbled my way through a few episodes and am having a good time so far. Give it a listen wherever you get your podcasts. Anyways, interesting exclusive news today: Solayer restaking platform heads to mainnet Solana’s restaking era has begun. Solayer is bringing its restaking network to mainnet, the team told Lightspeed exclusively. The months-old business garnered tens of millions…

As blockchain adoption skyrockets, effective scaling is essential to support this growth. While Solana is celebrated for its speed and scalability, the surge in users demands even more robust solutions. To explore how the industry can keep pace, we spoke with Bernie Blume, the CEO and Founder of Xandeum, to discuss his take on scalability in the blockchain space.—Solving The Blockchain Storage TrilemmaWith years of experience in the IT industry, Bernie has always been involved in the systems and hardware aspects of technology. As someone that loves solving problems deep down in the technology’s base layer, he has always been…

Amid Bitcoin’s (BTC) struggle to break past $70,000, a crypto technical analyst has stated that recent price movements suggest that the digital asset has the potential for a massive breakout. Particularly, in an X post on July 29, the analyst, Gert van Lagen, noted that Bitcoin appears to be on the verge of a significant breakout, with its next potential target ranging between $240,000 and $320,000. This bullish outlook is highlighted by a compelling “Cup & Handle” formation on Bitcoin’s weekly chart. Notably, this pattern is typically seen as a bullish continuation pattern, indicating that the price is likely to…

Aave (AAVE) drew in more than $20B in net deposits again, following the overall market recovery. The protocol continues to expand as the supply of GHO is now above 150M tokens. Aave (AAVE) is one of the fastest-growing protocols, rebuilding its value in the past three months. After a brief period of withdrawals, net deposits on Aave are back above $20B. The protocol carries more than $7.5B on active loans, which are safely protected by excess collateral. The Aave protocol is also growing its value locked as crypto markets regained their positions. Aave total value locked (TVL) increased to $12.5B…

Synthetix (SNX) is set to introduce the highly anticipated Snaxchain on September 15. While initially focused on Synthetix management operations, Snaxchain promises to expand its capabilities over time, ushering in a new era for Synthetix users. Snaxchain’s roadmap includes a number of features designed to enhance the Synthetix ecosystem. These include: Cross-chain SNX staking and fee collection, facilitating asset management across multiple networks. The multi-chain SNX Liquidity Share will promote deeper liquidity across various platforms. Multi-chain Synthetix perps trading is intended to offer new opportunities for leveraged trading. While a website and explorer for the testnet have recently been created,…

Metaplex Foundation announced the Metaplex Aura Network on September 23, 2024. Aura is a decentralised indexing and data availability platform designed to extend the Solana and Solana Virtual Machine networks. MPLX price rose 12% amid the news and overall crypto market surge. The Metaplex Foundation, the non-profit supporting the Metaplex Protocol, has announced a new decentralized indexing and data availability layer for Solana (SOL). Metaplex Aura Network is the new platform that Metaplex Foundation introduced on Sept. 23, revealing that the new platform complements the Solana Virtual Machine and the Metaplex Program Library with a decentralised network for real-time data…

U.S. spot bitcoin exchange-traded funds (ETFs) attracted $124.13 million on Monday, elevating the total net inflows to $17.71 billion. Data indicates that $2.68 billion was traded during Monday’s sessions, with Blackrock’s IBIT emerging as the only gainer. Blackrock’s IBIT Emerges as Monday’s Sole Gainer On Monday, sosovalue.xyz stats show the 11 U.S. spot bitcoin ETFs garnered $124.13 million in inflows, driven entirely by gains in IBIT. Blackrock‘s IBIT drew in $205.62 million, while three other funds experienced net outflows. Grayscale’s GBTC saw a withdrawal of $54.29 million, Bitwise’s BITB lost $21.3 million, and Fidelity’s FBTC faced a modest reduction of…