Author: NBTC

MicroStrategy (MSTR) and Coinbase (COIN) have the most possibility of a short squeeze – or a rally spurred by short sellers getting out of their bearish bets – S3 Partners said in a report. The total short interest in crypto stocks is $10.7 billion, with MicroStrategy and Coinbase making up 84% of these bearish bets, the report added. The short sellers are piling into the crypto-linked stocks, wagering that they are primed to reverse their year-to-date jump in prices. However, the trade has become so crowded that it primed these stocks for a short squeeze, said data analytics firm S3…

In a strategic move to outmaneuver its rivals, Aave (AAVE) has launched “Merit,” a new reward program, on Tuesday at 18:00 UTC. This program is aimed at Aave’s most loyal users. Merit rewards actions beneficial to the Decentralized Autonomous Organization (DAO). This initiative focuses on genuine contributions rather than generic incentives. Aave Penalizes Engagement With Non-Aligned Products Through Merit Airdrop Merit went live, distributing 280 Wrapped Ethereum (WETH) to select borrowers. Furthermore, an airdrop for Aave’s stablecoin – GHO borrowers and stakers is on the horizon. The success of Merit is evident, with around 200,000 Ethereum (ETH) moving from other…

Following the Department of Justice’s (DOJ) legal action against Kucoin and its founders, analysts from Nansen specializing in real-time onchain data revealed that Kucoin experienced a withdrawal of $99 million in Ethereum-based assets and $109 million in outflows from various EVM-compatible chains. Ethereum and EVM Chains See $200 Million Outflow From Kucoin On a Tuesday, Damian Williams, the U.S. Attorney for the Southern District of New York, announced the indictment of Kucoin and its founders. U.S. authorities allege that Kucoin breached the Bank Secrecy Act and failed to implement requisite anti-money laundering measures. At 2:10 p.m. Eastern Time (ET) on…

BlackRock’s first tokenized asset fund is off to a strong start, garnering a significant market share of the blockchain-based tokenized U.S. Treasury market just a week following its debut. Blockchain data shows that BlackRock’s BUIDL raked in $245 million of deposits as of Wednesday. Its strong introduction propelled the fund into second place among peers, trailing only Franklin Templeton’s Franklin OnChain U.S. Government Money Fund (FOBXX), which has $360 million of deposits, according to rwa.xyz data. BlackRock was the latest high-profile entrant to crypto’s tokenization of real-world assets (RWA) boom, with digital asset firms and global banks such as HSBC,…

Starknet’s 2024 roadmap calls for the addition of parallel transactions starting in the second quarter. Developers behind the project also released plans for measures to cut fees. Starknet is the biggest in a category of layer-2 networks known as ZK rollups. The developers behind Starknet, the Ethereum layer-2 network whose $2.3 billion STRK token airdrop last month captivated crypto markets, plan to add a design feature known as “parallelization” – one of the factors that reportedly makes rival blockchain Solana popular as a venue for fast, cheap transactions. The feature will go live as part of an upgrade set for…

Paradigm-backed NFT card game Parallel has secured $35 million from a group of investors to expand the universe across new platforms. Parallel, a sci-fi NFT card game, that supports the Ethereum blockchain and the Base layer-2 chain, has completed another financing round, bagging in $35 million from a pool of investors. In an X post on Mar. 28, the game developers said the funding was supported by Distributed Global, The Operating Group, VanEck, Solana Ventures, Base Ecosystem Fund, and Amber among others. $𝟯𝟱𝗠 𝗙𝘂𝗻𝗱𝗶𝗻𝗴 𝗥𝗼𝘂𝗻𝗱 𝗶𝗻 𝗣𝗮𝗿𝗮𝗹𝗹𝗲𝗹 𝗦𝘁𝘂𝗱𝗶𝗼𝘀 We are excited to announce our latest funding round! Our team is…

March 26 (Reuters) – Online trading app Robinhood Markets (HOOD.O), launched a new credit card on Tuesday, in an effort to expand its foothold in the personal finance market and boost subscriptions to its premium tier. The credit card, available exclusively to Robinhood Gold customers, comes two years after its launch of a debit card to allow spare change investing, with the Menlo Park, California-based company looking to broaden its product offerings. Robinhood bought Max Levchin-backed fintech startup X1 Inc for about $95 million last year, riding on the popularity of fintech firms due to the growth of digital banking,…

A MetaDEX “Velodrome Finance” is collaborating with Mode (a DeFi layer 2 platform). According to the reports, Velodrome intends to increase its liquidity throughout its ecosystem with its latest endeavor and is currently executing the integration. Velodrome operates as a liquidity hub facilitating the Optimism ecosystem. Another DeFi Giant Joins Mode Ecosystem 🟡@VelodromeFi, the leading MetaDEX in the Optimism ecosystem with $140M+ TVL, is set to launch on Mode.This integration will boost liquidity & strengthen Mode’s DeFi ecosystem.Read all about it 👇https://t.co/QLIAgSGjvC pic.twitter.com/IiMTeQxgJf — Mode 🟡 (@modenetwork) March 27, 2024 Velodrome and Mode Begin an Exclusive Partnership to Enhance Liquidity…

The layer-two (L2) initiative BOB, an acronym for ‘Build on Bitcoin,’ successfully secured $10 million during its seed funding round, led by Castle Island Ventures. The financial boost is set to advance the deployment of a Bitcoin L2 that is compatible with the Ethereum Virtual Machine (EVM), aiming to spur creativity across the network and establish an ecosystem of Bitcoin decentralized applications (dapps). BOB Aims to Bridge Bitcoin and Ethereum The L2 project BOB, short for ‘Build on Bitcoin,’ has announced it raised $10 million in a funding round led by Castle Island Ventures. Mechanism Capital, CMS Holdings, Bankless, Viabtc…

Bitcoin layer 2 network Stacks (STX) was trending on Google after the network’s Nakamoto upgrade received widespread approval. According to the Stacks Foundation, the upgrade was approved by every voter who had Stacked STX, and 99.98% of the votes cast by those who were not stackers supported the proposal as well. As a result of this community endorsement, the Nakamoto Testnet is slated to go live on March 25, 2024. The next two phases are already scheduled for April 15–29 for the Nakamoto Mainnet (Instantiated) and May 15–29 for the Nakamoto Mainnet (Activated). The project’s white paper states that the…