Author: NBTC

The Shiba Inu team has introduced a burn portal for the Shibarium lawyer-2 solution. Burning tokens to reduce the supply of a certain token is a common industry practice. Ethereum Improvement Proposal (EIP) 1559 was implemented as part of the London hard fork back in 2021 to burn a portion of transaction fees by introducing a flexible block size as a proxy for network demand. The upgrade introduced the so-called “base fee,” a mandatory fee that is determined by the algorithm based on the level of network usage. The base fee is always burned, meaning that it gets destroyed by…

The UK Government and the Financial Conduct Authority (FCA) are working to reform capital markets. They aim to help retail investors make informed investment choices. A key aspect of this effort is replacing the EU-inherited consumer cost disclosure regulation. The goal is to create a new framework tailored to UK markets. The Treasury has proposed replacing the current Packaged Retail and Insurance-based Investment Products (PRIIPs) Regulation with a new system called Consumer Composite Investments (CCIs). Legislation will be introduced to grant the FCA the necessary powers to implement this change. The new CCI regime is designed to address industry concerns…

Large bitcoin holders added over 84,000 BTC in July, the highest since October 2014, per IntoTheBlock. The accumulation was characterized by bargain hunting during the early July price dip. In a display of confidence, large bitcoin (BTC) holders, often adept at timing market moves, boosted their coin stash in July at the fastest pace in years, capitalizing on the two-way price volatility. Large holders, or addresses owning at least 0.1% of BTC’s circulating supply, snapped up over 84K BTC, worth $5.4 billion at the current market price, according to data tracked by blockchain analytics firm IntoTheBlock and TradingView. That’s the…

The Federal Reserve’s latest rate cut has sent Ethereum (ETH) soaring. Trading at $2,428 as of this writing, the altcoin’s value has spiked by over 5% in the past 24 hours. However, it seems not everyone is celebrating. Ethereum spot exchange-traded funds (ETFs)experienced outflows yesterday despite the price surge. Ethereum ETF Holders Remove Their Funds According to data from SosoValue, ETH spot ETFs recorded a net outflow of $9.74 million on Wednesday, bringing the week’s total outflows to $30.36 million. This funds removal occurred despite the broader market rally witnessed after the Federal Reserve cut interest rates by 50 basis…

Former New York Fed President William Dudley called for an aggressive 50 basis point rate cut, arguing that such a move would better align with the Fed’s policy goals. In a recent article, Dudley noted that the Fed’s dual mandate of price stability and maximum employment has reached a point of balance, suggesting that monetary policy should now be neutral, neither encouraging nor restricting economic activity. But Dudley noted that short-term interest rates are running significantly above neutral levels, creating an imbalance that needs to be addressed quickly. Dudley argues that a 50 basis point cut would bring rates closer…

Despite a relatively choppy market, crypto whales still splashed their cash on some altcoins this week. According to BeInCrypto’s analysis, their choices suggest optimism that the broader market could experience a substantial recovery soon. Here is a list of the altcoins crypto whales bought in the second week of August 2024. Litecoin (LTC) First on the list is Litecoin (LTC), developed as a lighter version of Bitcoin (BTC). According to IntoTheBlock, LTC’s Large Holders Netflow saw a substantial increase over the last seven days. Large Holders Netflow tracks the activity of addresses holding 1% or more of the total circulating…

Bitcoin privacy and coin mixing service Samourai is having a big week in court, with both co-founders facing charges of conspiracy to launder money and conspiracy to operate an unlicensed money transmitter in the Southern District of New York. William Lonergan Hill and Keonne Rodriguez are accused by the FBI of facilitating at least $100 million worth of money laundering transactions for illegal operatives. Although the two men appeared together in a US courtroom for the first time this week, there wasn’t much legal action of consequence. Nevertheless, proceedings in another coin mixer case involving are set to have a…

Analysts at the investment management giant VanEck think Bitcoin’s price (BTC) could skyrocket to $2.9 million by 2050. For that to happen, BTC will need to become a key part of the international monetary system, according to Matthew Sigel, VanEck’s head of digital assets research, and Patrick Bush, a senior investment analyst at the firm. “We expect BTC to be widely used in international trade, becoming a significant medium of exchange and a valuable store of wealth. This leads to a Gresham’s Law-like feedback loop: as BTC becomes more useful and valuable, central banks and long-term investors will want to…

According to recent data from Lookonchain, a wallet associated with Ethereum (ETH) cofounder Vitalik Buterin, has once again made a large Ethereum transfer. And once again, this transfer looks like a cashout by the visionary behind the major altcoin. The wallet identified as “0xD04d” transferred 1,300 ETH, valued at approximately $3.17 million, to wallet “0x5567” just an hour ago. Following the transfer, the recipient wallet deposited 74.17 ETH, worth $181,000, into Paxos. This movement is reminiscent of a previous transaction, where 1,000 ETH, worth approximately $2.45 million, were transferred from wallet “0xD04d” to wallet “0x5567” 348 days ago. On that…

As the FED’s new interest rate decision approaches, many leading financial institutions, including Ebury, TD Securities and Bank of America, shared their forecasts. Ebury, a global financial services firm, expects the Fed to cut interest rates by 25 basis points and suggests further cuts will follow gradually. That cautious approach should provide near-term support for the U.S. dollar, said Matthew Ryan, market strategist at Ebury. “A 50 basis point rate cut is not on the horizon,” Ryan said, adding that the market pricing in a 115 basis point rate cut this year appears overly optimistic. Ebury sees the Fed making…