Author: NBTC

Aggregated Bitcoin (BTC) hashrate, i.e., the total number of hashes produced by all miners on the network, added 6% in just three weeks. Leading on-chain analysis firm CryptoQuant explained why this is a positive signal for BTC’s performance. Bitcoin (BTC) hashrate recovers at impressive pace, CryptoQuant says Bitcoin (BTC) hashrate spiked to 604 EH/s, which is a local high. The upsurge pushes total growth since bottoming to 6%. Such calculations are published by CryptoQuant researchers in their latest Bitcoin Miners Recover: Hashrate Rises, Selling Eases report. #Bitcoin miner hashrate is rebounding, reaching 604 EH/s, a 6% increase since July 9.$BTC…

sENA allows users to maintain liquidity with their staked ENA, opening opportunities across multiple DeFi applications and platforms. Ethena Labs integrated Coinbase Prime Web3 Wallet to streamline minting and redemption processes for its Ethereum-based protocol. Ethena Labs has made tremendous progress in the DeFi field, particularly with recent advances involving their native token, ENA, and its liquid receipt cousin, sENA. The launch of sENA is a significant milestone, as it provides consumers with a liquid receipt token for locked ENA. This novel solution allows users to preserve liquidity while holding their staked ENA, allowing them to participate in a variety…

Polymarket traders are overwhelmingly betting on a Federal Reserve rate cut this week, with odds at 99% for a reduction at the upcoming September 18, 2024 meeting. Traders are anticipating a 25 basis point cut, which would reduce the federal funds rate to a range of 5.00% to 5.25%. Traders see a 99% chance of a Fed rate cut this week (Polymarket) While some economists speculate a more aggressive cut of 50 basis points, the general consensus anticipates two cuts this year, aiming for a year-end target of 4.75%-5.00%. According to the CME FedWatch tool, the probability of a 50…

U.S. Securities and Exchange Commission Chairman Gary Gensler has warned so-called crypto exchanges that they must follow rules. The SEC is currently engaged in legal battles with such major exchanges as Coinbase, Kraken, and Binance. During a Wednesday interview with CNBC, Gensler stressed that the SEC would keep protecting the investing public. “This is a field that is rife with fraudsters and scammers, and grifters,” Gensler stressed. The SEC boss pointed to the fact that some of the biggest crypto figures from 2022 are now either in jail or awaiting extradition. Gensler, of course, was alluding to former FTX CEO…

Justin Sun has taken to X (formerly Twitter) to explain that “all exchanges in the industry have already implemented proof of reserves (PoR).” He followed up this pronouncement by further emphasizing that “there is only one explanation for why” exchanges have yet to do it — “they are unable to meet the requirements.” This reveal was somewhat surprising as Poloniex, a cryptocurrency exchange owned by Sun, has not implemented PoR, and as such we are forced to conclude that Poloniex is also “unable to meet the requirements.” Poloniex has a page on its website that claims to be a “Proof…

As Senator Lummis pushes for Bitcoin to stabilize the U.S. dollar, Moe Vela warns of the risks. Read on. During the Bitcoin 2024 conference in Nashville on July 27, US Senator Cynthia Lummis proposed that the U.S. government consider Bitcoin (BTC) as a strategic reserve asset to stabilize the dollar’s value and counter inflation. In a follow-up to her initial announcement, on July 31, Senator Lummis officially introduced the Bitcoin Strategic Reserve bill. This legislation aims to direct the U.S. government to establish a reserve fund specifically for Bitcoin, ensuring it is held securely across various geographic locations. The plan…

The decentralized application (DApp) ecosystem continues to thrive, with a variety of platforms showing impressive growth across multiple metrics such as market capitalization, total value locked (TVL), fees, and monthly revenue. An analysis of key DApps reveals significant developments, particularly in terms of fees generated and the revenue accrued over the past month. Below is a breakdown of the latest performance data for leading platforms, providing insight into the current state of decentralized finance (DeFi). KEY METRICS ON POPULAR #DAPPS #Sky $SKY #Aerodrome $AERO #LidoFinance $LDO #Uniswap $UNI #Aave $AAVE #PancakeSwap $CAKE #Ethena $ENA #Curve $CRV #GMX $GMX pic.twitter.com/yQK3cEeguV —…

Dan Gallagher, Robinhood’s Chief Legal Officer and a former SEC Commissioner, testified before the U.S. House Financial Services Subcommittee on Digital Assets. Wherein, he criticized the “scorched earth” approach the SEC has on cryptocurrencies. Gallagher disclosed that Robinhood had over a dozen meetings with the SEC in an effort to register, but still resulted in a Wells notice from the enforcement division. According to Gallagher, Robinhood to be registered as a digital asset broker-dealer under the SEC. Robinhood claimed to have dedicated efforts and resources to implement the regulations set by the Commission. They spent over a year seeking guidance…

Instarem integrates Apple Pay with its Amaze card, enhancing convenience for contactless payments and cross-border transactions. Ripple’s XRPL expands to support NFTs, smart contracts, and DEX, pushing broader blockchain adoption and innovation. Instarem, a Ripple partner, has made a huge step forward by integrating Apple Pay with its Amaze card. Users may now make contactless payments using their iPhone, iPad, or Apple Watch, which adds ease and security to their transactions. This interface allows Amaze cardholders to travel without the need for physical cards, making it easier to manage their accounts while on the go. Furthermore, the Amaze card accepts…

Former President Donald Trump laid out his vision for the future of cryptocurrencies in the United States in a recent interview with FOX Business’ Maria Bartiromo. Trump said he should have embraced crypto technology to maintain American leadership in the global arena. Speaking at a crypto conference last weekend, Trump expressed his strong desire for cryptocurrencies to play a more significant role in the American economy. He argued that the United States must be at the forefront of this technology or risk falling behind other countries, especially China. “Crypto is a very interesting thing,” Trump said, adding: “It’s very high-level,…