Author: NBTC
The below is an excerpt from a recent edition of Bitcoin Magazine Pro, Bitcoin Magazine’s premium markets newsletter. To be among the first to receive these insights and other on-chain bitcoin market analysis straight to your inbox, subscribe now. With Bitcoin’s next halving set to take place this month, miners are using record profits to adapt their business models for chaotic opportunities. The halving is almost upon us. As the whole world of Bitcoin waits with bated breath for mining rewards to be cut in half, the potential for new revenue streams has left us wondering how the space will…
A closely followed analyst says he sees Bitcoin (BTC) ending its current correction and witnessing another leg up soon. In a new video update, crypto strategist Kevin Svenson tells his 74,100 YouTube subscribers that Bitcoin may undergo a momentum shift after printing a bullish technical pattern on the low time frame. “Bitcoin is in a position to potentially, on the four-hour chart, put in a higher low [at $64,800], which would be an inverse head and shoulders, which would be an indication of a momentum reversal, an increase in demand, a trend reversal in the short term.” Source: Kevin Svenson/YouTube…
The Arbitrum Foundation has unveiled a proposal for a $400 million Gaming Catalyst Fund, targeting the expansion and enhancement of its blockchain gaming sector. In a detailed proposal published on the community forum, the Arbitrum Foundation outlined its vision for the fund. The initiative, designed to enrich Arbitrum’s gaming landscape, is currently seeking endorsement from the Decentralized Autonomous Organization (DAO) to roll out over a span of two years. Arbitrum’s Proposed Gaming Fund Arbitrum’s endeavors in decentralized finance contrast with its emerging presence in gaming, trailing behind competitors in terms of games and player engagement. The Gaming Catalyst Program (GCP)…
In British Columbia, Canada, authorities have targeted assets linked to QuadrigaCX, a defunct cryptocurrency exchange, through an unexplained wealth order. This legal maneuver aims to seize cash, 45 gold bars, and luxury items from a safe deposit box associated with Michael Patryn, a founder of QuadrigaCX. An unexplained wealth order requires individuals to justify their asset’s origins, underlining the government’s stance against illicit financial gains. Mike Farnworth, British Columbia’s public safety minister, emphasized the province’s commitment to combating financial crime, stating, “Through this action, we are demonstrating again that criminals will have to prove that their assets are the proceeds…
The dollar value of the mean onchain transfers on the Bitcoin blockchain remain well below the 2021 peak, data tracked by Glassnode show. That’s a sign of investors holding on to their coin stash in anticipation of higher prices, analysts at Blockware Solutions said. Bitcoin’s (BTC) price recently rose to new record highs above $70,000. Still, the real economic activity on the Bitcoin blockchain is limping along, not sprinting. The divergence partly represents strong holding sentiment in the market, according to one research firm. “Average on-chain transfer volume (USD Denominated) is well below the 2021 bull market peak. Hardly any…
Shiba Inu (SHIB) could surge above the $0.00004 price territory if its market capitalization rises to the same level as the current market valuation of Dogecoin (DOGE). Shiba Inu met its goal to dethrone Dogecoin as the largest memecoin in the market during the 2021 bull run. Data from CoinMarketCap suggests that SHIB hit a market cap of $37.8 billion in October 2021, towering over DOGE, whose market cap at the time stood at $32 billion. However, Shiba Inu’s market valuation collapsed when it slumped from the $0.00008845 all-time high. The crypto asset continued to shed off more of its…
Shibariumscan, the blockchain explorer to the Shiba Inu layer-2 network Shibarium, has received a new exciting update from Blockscout to bolster usability. Shibarium remains at the forefront of attention amid sustained adoption growth. Notably, Shibariumscan, the network’s block explorer, has been instrumental in facilitating transparency on the blockchain’s metrics. Despite the explorer’s existing robustness, Blockscout announced in the latest development that it has added a new exciting feature to Shibariumscan to further bolster transparency. For the uninitiated, Blockscout is an open-source blockchain explorer and analytics platform for Ethereum-based networks. It allows users to search and explore transactions, addresses, and smart…
KUTV, a top television station based in Utah, United States, highlighted the launch of Shiba Inu’s partner token KNINE. Popular American TV station KUTV mentioned Shiba Inu’s partner, K9 Finance DAO, in the recent episode of “Eye On Your Money.” Shiba Inu Makes Big News Through Its Partner Specifically, Cristina Flores, who anchored the program, noted that Shiba Inu has been making strides in the crypto market by partnering with K9 Finance to introduce tech innovation to the project. “Cryptocurrency meme coin Shiba Inu has also been making big news. Shiba Inu has officially partnered with K9 FInance, which brings…
Hytopia, a Minecraft-like sandbox game previously known as NFT Worlds, is set to roll out a closed beta test this month after raising millions of dollars through a node sale for its Ethereum layer-2 network, Hychain. The Hychain sale raised 2,098 ETH in March, or more than $8 million worth at the time, as users purchased nodes that help secure the Arbitrum-based gaming network and also allow them to earn TOPIA tokens in the process. In total, 250 million TOPIA—about $17.5 million worth at present—will be doled out to node operators, along with a 25% share of transaction fees. The…
The Virtual Society Foundation (VSF) has marked a significant milestone in the evolution of the Metaverse with the introduction of the Somnia project. This groundbreaking initiative features an L1 blockchain and a suite of omnichain protocols aimed at unifying the fragmented Metaverse landscape to support experiences for millions of users. The current blockchain infrastructure falls short of supporting millions of transactions with the required speed and affordability to sustain a virtual society. The Metaverse has long been disjointed, posing challenges for users and creators to collaborate effectively. Consequently, the majority of the accrued value has been channeled towards the Metaverse…