Author: NBTC
Crypto wallet firm Fordefi raised $10 million from Electric Capital, Paxos and Alchemy. The company is expanding its self-custodial MPC wallet offering to retail-facing platforms such as exchanges and fintech platforms. Crypto wallet firm Fordefi raised $10 million in venture capital investment, aiming to solve one of the biggest pain points in crypto by expanding its institutional-focused wallet offering to retail-facing platforms, the company told CoinDesk in an exclusive interview. The fundraising was led by Electric Capital, with Paxos and Alchemy joining as new investors. The investment followed a $18 million seed capital raise in November 2022 with Lightspeed Ventures,…
The cryptocurrency space has been subject to high volatility after Bitcoin finally surged to $53,000. After hitting this level, the cryptocurrency faced notable declines in its value. However, a crypto analyst has predicted that the price might continue to surge, highlighting the enduring strength of Bitcoin’s upward momentum. BTC Price Needs To Hold Steady Despite the recent bearish trends seen in the last few days, a prominent crypto analyst, Michael van de Poppe, has maintained an optimistic outlook on Bitcoin’s price. Sharing a BTC price chart, the crypto analyst emphasized Bitcoin’s current position above $50,000, which shows strength. However, he…
Recent data showcases a tremendous accumulation of Bitcoin by exchange-traded funds (ETFs). With iShares by BlackRock (IBIT) at the forefront, holding nearly 116,000 BTC, and Fidelity’s Bitcoin ETF (FBTC) managing over 83,000 BTC, the market is radiating confidence. In < 10 seconds, you can watch the accumulation of 260,000+ bitcoin…Only *5 weeks* of trading since spot bitcoin ETFs went live.“No demand.”via @apollosats pic.twitter.com/xepu2v9Het — Nate Geraci (@NateGeraci) February 18, 2024 This comes at a time when Bitcoin ETFs have only been trading for five weeks, dispelling any notions of a lack of demand, according to prominent analyst Nate Geraci. ETF…
Polygon zkEVM has failed to live up to the hype, and in recent weeks, its daily active addresses, transactions, and total value locked have been dipping progressively. Polygon has teamed up with industry players in the Ramp Up campaign over the entire of February to reignite DeFi on zkEVM with a $50,000 prize pool, Polygon zkEVM launched last year to much hype as the best scaling protocol for the Ethereum network, and while its technology remains unquestionable, its performance has waned in recent months. An event that kicked off on February 1st could change all this and offer the Layer…
The singer of “Gangnam Style,” PSY, could be set for an NFT clash with regulators in his native South Korea. Per Biz World, the singer’s entertainment agency P Nation launched an NFT-powered pre-sale project for PSY’s concert tour in 2023. No NFT Joy for ‘Gangnam Style’ PSY? In October 2022, P Nation said it was launching a fan community called soPSYety. The agency said that the project was backed by NFTs, including a range named PSYger. P Nation announced that for PSY’s Summer Swag and All Night Stand concerts, “opportunities to buy tickets in advance will be given to those…
The high-throughput blockchain Sei has upgraded its devnet, a developer-focused kind of testnet, to v2. With the new version, apps developed on Ethereum can be deployed on Sei with no changes. Sei is hoping to lure developers with an execution environment it says offers the “best of Ethereum and Solana.” Sei’s Ethereum-Solana hybrid analogy is based on its use of parallelized processing. In brief, parallelized blockchains process multiple transactions simultaneously rather than one at a time. Solana’s version of smart contracts make use of parallel processing. Ethereum smart contracts do not. Sei is one among multiple studios courting developers with…
While it might be hard to believe, market analysts believe that Ripple’s XRP could become a stablecoin. Amid speculations around the stablecoin debut for Ripple, Black Swan Capitalist Founder Versan Aljarrah has asserted that XRP could play a vital role amid calls for gold-backed stablecoins. XRP To Evolve Into A Gold-Backed Stablecoin? In a post on X, Aljarrah underscored the calls for a gold-backed stablecoin from institutions like the World Bank, International Monetary Fund (IMF), and World Gold Council. He added that these institutions have been urging for such a development so central banks could tokenize gold reserves. Furthermore, he…
The Bitcoin price has had a rocky start to the new week after losing its footing above $52,000 on Tuesday. However, all hope is not lost, as indicators still point to a continuation of this trend. Crypto analyst Tony The Bull has identified an important trend in the Bitcoin chart which could trigger a continuation of the trend back above $52,000. Bitcoin 1-Week Fisher Transform At Crucial Point In an analysis posted on X (formerly Twitter), the crypto analyst shared a chart that showed the Bitcoin Fisher Transform in comparison to price. Most importantly, the chart showed the 1-week Fisher…
Veteran trader Dave the Wave says Bitcoin (BTC) is at a turning point where it may either ignite a parabolic impulse to the upside or finally see a significant correction. The pseudonymous analyst tells his 145,000 followers on the social media platform X that Bitcoin is potentially making a break for $65,000, but could drop to $41,000 if the attempt fails. “Technical short-term target of $65,000 if price can break out of the channel, target of $41,000 if it cannot. Your move BTC.” Source: Dave the Wave/X Looking at his chart, Dave the Wave thinks BTC just broke out of…
Perpetual swaps exchange Avantis opened for trading on Base mainnet Friday, bringing a new approach to the old problem of balancing crypto futures markets that its creator thinks will appeal to retail traders. Avantis is one of the first trading protocols to roll-out natively on Base, the Coinbase-backed layer 2 whose proponents are betting that a close proximity to the centralized exchange giant could potentially help shovel millions of first-time DeFi users into the on-chain world. It seems unlikely that such a crowd would immediately flock to the sort of high-risk leverage trading that Avantis, which offers 75x leverage, says…