Author: NBTC
The crypto market is entering a new phase in 2024 with renowned optimism. Having overcome the turmoil of the last 18 months and bolstered by recent regulatory approvals, the shifts in monetary policy and new Web3 innovations are paving the way for a new wave of crypto innovation. Developments in decentralized finance (DeFi) are especially promising. With central banks signaling rate cuts, DeFi yields are becoming increasingly attractive as alternative investment forms. Additionally, new ecosystems and a new generation of protocols are introducing fresh financial primitives into the space. However, to cross the chasm of widespread adoption, this phase of…
SkyArk Chronicles, an anime-style fantasy game, just held a huge NFT mint with eager collectors pledging $115 million worth of Ethereum for a chance to claim one of its character assets. But now Binance Labs says that its investment in the studio behind the game was misrepresented in the run-up to the mint. Earlier this month, SkyArk Studio announced that Binance Labs—the crypto exchange’s venture capital arm—had led its $15 million funding round, which preceded the sizable NFT mint. But in truth, Binance Labs shared early Monday, its investment in the studio came back in 2021. In a lengthy tweet,…
The waitlist for new Ethereum validators is now the longest since early October. The renewed interest in staking is noteworthy as the yield on staked ether remains below 4%. The Ethereum network is witnessing a spike in the number of validators looking to stake their ether (ETH). The so-called validator entry queue has jumped to 7,045, the highest since Oct. 6, according to data source ValidatorQueue. The waitlist, representing over 225,000 ether ($562 million), is expected to be cleared in just over 48 hours. Ethereum limits the number of new validators that can join the network per epoch or the…
New Zealand’s central bank governor, Adrian Orr, raised concerns about the stability of cryptocurrencies, particularly stablecoins, during a parliamentary committee meeting on Monday. He criticized these tokens as “misnomers” and “oxymorons,” highlighting their vulnerability to traditional financial turmoil and potential to disrupt real-world markets, Bloomberg reported. Stablecoins are designed to maintain a consistent value, often pegged to real-world assets like the US dollar. However, Orr emphasized that their stability hinges on the financial strength of the issuing entity, raising doubts about their reliability. Crypto Can Not Replace Fiat The central bank’s governor further emphasized that cryptocurrencies like Bitcoin do not…
Siacoin (SC) jumped as high as 20% in 24 hours as liquidity rotated around crypto’s $2 trillion market. Siacoin is the native token decentralized cloud storage blockchain Sia, launched in 2015 for users to rent out unused storage. SC’s market cap increased to $733 million as the price rose, and its daily trading volume surged 38% to nearly $200 million per CoinMarketCap. Siacoin price | Source: CoinMarketCap You might also like: BNB Chain launches data storage solution Greenfield One of crypto’s underlying missions is fixing concerns in traditional and centralized services. Sticking to this ethos, Sia plans to provide trustless…
A closely followed crypto trader is remaining bullish on one Solana (SOL)-based Dogecoin (DOGE) competitor that’s put up big gains in recent months. Pseudonymous trader The Flow Horse tells his 200,300 followers on the social media platform X that memecoin dogwifhat (WIF) could soar more than 116% from its current value. “Continuing to buy WIF on intraday dips. No top until a major blow-off. Weekly VWAPs (volume-weighted average prices) have remained good entries. Expecting this to persist while short-term leverage is continually wiped out and a strong spot bid remains. Targeting at least $0.80.” Source: The Flow Horse/X WIF is…
Decentralized finance (DeFi) is witnessing a surge of groundbreaking features. Innovators like Perpetual Protocol, Aave Decentralized Autonomous Organization (DAO), Convergence Finance, and Polygon are leading the charge today. Today’s DeFi Innovations : Perpetual Protocol’s Perp V3 and Aave’s Frontier Perpetual Protocol has launched Perp V3, aiming to enhance user experience by simulating a centralized exchange-like interface. Additionally, the Smart Liquidity Framework is a key feature that allows various methods for liquidity provision, thereby enabling various on-chain and off-chain methods to generate tradable prices. “We’re committed to making Perp V3 the go-to for DeFi newbies. Think of it as trading on…
The global market for NFTs has witnessed a downward trend in trading volumes, marking a consistent decline for the third week of January. According to the latest figures from CryptoSlam.io, a prominent on-chain data aggregator, the trading sales volume in the NFT sector has fallen to $223 million over the last week. This represents a significant 22.5% drop compared to the previous week’s figures. Contrastingly, the NFT market has observed an uptick in the number of active participants. Recent data shows that over 734,000 collectors engaged in NFT purchases across various platforms in the last week. This surge, amounting to…
Venture capital firm Sora Ventures has launched a $2 million liquid fund focused on projects building within the TTP ecosystem. This ecosystem comprises several assets, including $TRAC, Tap Protocol, and $PIPE, and is the first decentralized indexer ecosystem powered by the Ordinals Protocol. UTXO Management, the team responsible for Bitcoin Magazine, leads the Sora TTP Fund. Prominent Web3 investors, such as Ben Lakoff (Bankless Ventures), founders of Origin Protocol, Waterdrip Capital, and SeraFund, are backing the fund. This funding reinforces the growing interest in Bitcoin Ordinals and protocols like Tap Protocol, which are pivotal in advancing Ordinal Finance (OrdFi). Tap…
A cloud-focused Web3 altcoin has surged ahead of all other crypto projects in terms of recent development activity, according to the analytics firm Santiment. Santiment says the public decentralized network Internet Computer (ICP) registered 466.9 GitHub commits in the past 30 days, leading all other crypto projects. The analytics firm notes that it does not count routine updates and uses “advanced methodology” to collect data for “true” GitHub commits only. Internet Computer aims to add a serverless cloud functionality to the public internet. The project’s native asset, ICP, is trading at $13.45 at time of writing and is down nearly…