Author: NBTC
The demand for US spot Bitcoin ETFs surged significantly on Tuesday, outpacing the new supply created daily by miners by a remarkable 614%, according to Gayatri Choudry, Quantitative Research Analyst at Bitwise Asset Management. Demand from US BTC ETFs exceeds new BTC supply by 7x pic.twitter.com/OCU5D19rpf — Gayatri (@GayatriPC_) March 27, 2024 The surge in demand for Bitcoin ETFs reflects growing interest among institutional and retail investors in gaining exposure to the digital asset, without having to manage the BTC themselves. ETFs offer a convenient and regulated way for investors to participate in the potential upside of Bitcoin’s price movements…
The recent surge in Ethereum gas fees can be attributed to the rise in decentralized finance (defi) activity and the growing popularity of layer 2 (L2) chains such as Arbitrum and Optimism, Ken Timsit, managing director of Cronos Labs, has said. Timsit however agreed that the recent Dencun upgrade to the Ethereum network has helped reduce the transaction fees of L2 roll-up networks. Long-term Impact of Dencun Upgrade Remains Unknown Timsit explained to Bitcoin.com News that the Dencun upgrade, also known as EIP-4844, has introduced a new, more affordable fee mechanism for storing L2 transaction data on the Ethereum chain.…
In an unexpected revelation that has stirred the blockchain community, Sophon, a project shrouded in mystery, has announced a successful $10 million funding round. The investment is led by Paper Ventures and Maven11, with significant contributions from well-known entities in the blockchain sphere, including Spartan, SevenX, OKX Ventures, and Huobi Ventures. This marks a significant milestone for Sophon, a project that, despite its low profile and minimal public disclosures, has captivated the interest of major investors. Sophon, known for its sparse communication, primarily through a few enigmatic tweets, has kept the industry guessing about its core technologies and objectives. The…
Here is our weekly collection of digital asset listing and delisting, trading pair-related announcements by crypto exchanges that we found last week and today. Have we missed something? Do you have information about new listings and/or delistings? Let us know here. _________________________________________ MEXCListings:MyDogSOL (MYDOGSOL)Pepe Son (PEPESON)Nibiru Chain (NIBI)PEPEYE 2.0 (PEPEYE2)EXGOLAND (EXGO)Aros (AROS)Patex (PATEX)Baby Musk (BABYMUSK)ASN AI (ASN)Crown By Third Time (CROWN2)ZAIBOT (ZAI)GONE (GONE)Stank Memes (STONKS)Entangle (MNGL)PyramidAI (PYRAMIDAI)SuperAI (SA)Alvara Protocol (ALVA)myDid (SYL)Doge Baby (DOGEBABY)Banano (BAN)Rowan Energy (RWN)Antara Token (ANTT)AITAO (AITAO)Inferix (INFERIX)Solama (SOLAMA)Gui Inu (GUI)SpacePi (SPACEPI)BABY FLOKI (BABYFLOKI)Grand Base (GRAND)Wolf Wif Ballz (BALLZ)BOOK OF MEME (BOME)Nexum (NEXM)Chonky (CHONKY)Mega Universe (MEGAUNI)Gamer Arena (GAU)OneFinity…
Prosecutors seek to sentence Tornado Cash developer Alexey Pertsev to 64 months in jail, members of their team told CoinDesk. The consequences of the trial could have wider implications on how developers of open-source projects are treated. Tornado Cash Developer Alexey Pertsev should be jailed for 64 months, prosecutors told the judge in his trial in the Netherlands for money laundering, members of the prosecuting team told CoinDesk. The two-day trial, which could have implications on how developers are treated in courts elsewhere, was held in the ‘S-Hertogenbosch court on Tuesday and Wednesday. The judge will deliver the verdict on…
Binance has confirmed support for the upcoming NFPrompt (NFP) contract exchange, in a move aimed at ensuring smooth transitions for users. Binance Announces NFPrompt (NFP) Contract Clearing Support Deposits of old NFP tokens were previously suspended, and starting at 11:00 on March 28, 2024, withdrawals of old NFP tokens will also be temporarily suspended. Binance will publish a separate announcement once the contract exchange event ends, informing users about reopening deposits and withdrawals for the new NFP tokens. Spot trading, Margin trading and Binance Earn services will continue to operate as usual during the contract settlement process. Binance is committed…
Crypto asset management Hashdex announced on Tuesday that it launched its Bitcoin ETF on the New York Stock Exchange, making it the eleventh Bitcoin ETF to go live since the SEC approved the bulk of fund applications in January. Hashdex’s entry originally launched in September 2022 as a Bitcoin Futures ETF trading on the New York Stock Exchange as DEFI. The Switzerland-based firm said it has converted that product to a spot Bitcoin ETF to offer investors more immediate exposure to the number one cryptocurrency. Unlike other spot Bitcoin ETFs, however, Hashdex launched its product within the Chicago Mercantile Exchange…
Index Coop, a decentralized platform that develops easy-to-use tokens, has recently announced the launch of the High Yield ETH Index. The platform took to its official X account to disclose that the company has posted the pre-sale for hyETH on its forum. It brought to the front that the firm intends to provide benefits to the initial pre-sale depositors. For this, it will utilize PRTs and will offer a revenue share to the depositors. A High Yield ETH Index is coming 📢Launch the High Yield ETH Index (hyETH) Pre-sale has been posted on our forum🗳️hyETH will be the first to…
Crypto-focused hedge fund Multicoin Capital has delivered extraordinary returns to its investors, exceeding 9,000% since its launch in 2017. In its annual investor letter, the fund revealed that after experiencing significant losses in 2022 that nearly wiped out its value, Multicoin Capital’s fortunes have dramatically turned around. According to the investor letter, dated February 16, the Multicoin Capital Master Fund has recorded a staggering return of 9,281% since its inception on October 1, 2017. Multicoin Capital’s Gains Surge Amid Market Rebound The performance is primarily attributed to the resurgence of the cryptocurrency market, with the fund generating a remarkable 537%…
Arbitrum (ARB) has entered a sharp correction following a recent token unlock, which released 1.1 billion ARB tokens worth over $2 billion. According to data from CoinGecko, ARB is trading at around $1.6, down 20% in the last seven days and 30% lower than its record high of nearly $2.4 in January. Despite the price correction, on-chain insights suggest Arbitrum whales press on with ARB purchases. According to data from Santiment, transactions worth over $1 million surged on March 16, the day of the ARB token unlock. While this might suggest selling pressure, wallets holding between 100,000 and 100 million…