Author: NBTC

Blockchain technology has been around for over a decade now, but it has arguably failed to find many mainstream use cases beyond speculative investment and simple peer-to-peer transactions. Ether.fi, best known for its liquid restaking service, wants to change all that with a new blockchain-based credit card, Ether.fi Cash. It announced on Monday a plan to work with Scroll, a layer 2 network on Ethereum, to bring the credit card to market. Ether.fi Cash would enable users to spend fiat while using their crypto assets as collateral, allowing people to hold onto crypto and earn yield while making everyday purchases.…

XRP, which marked a significant milestone for the cryptocurrency market with its victory against the SEC, is becoming a documentary. Los Angeles-based film and gaming studio Fruition Production has announced that they are filming a documentary for XRP and are planning to release it in November. A new trailer is expected to be released around a week or two before the official launch. Stating that the project was implemented after serious research, the company pointed out that the documentary will cover the journey of XRP from its launch to the present. According to Fruition Production, the documentary will not feature…

The stock and crypto markets experienced significant volatility in the first week of August, triggered by a “correlation-1” event, resulting in a major sell-off. Bitcoin (BTC) witnessed its steepest price drop of the cycle, sparking a cautious sentiment among short-term holders. On August 5th, global markets dipped sharply amid the unwinding of the yen carry trade and fears of a recession, which boosted US treasuries. As a result, Bitcoin’s price plummeted by 32% from its all-time high – a record in the current cycle. The Mayer Multiple, which compares the current Bitcoin price to the 200-day moving average (200DMA), illustrates…

Ether.fi is rolling out a credit card using Scroll’s zero-knowledge technology for settlement. The restaking firm will also move into lending and borrowing markets. TVL has increased on Ether.fi over the past month despite outflows across the sector. EMBARGO 10am ET MONDAY 9TH SEPT Ether.fi said it selected the Scroll blockchain as a settlement layer, allowing the restaking protocol to start operating its planned credit card and introduce a market for lending and borrowing. Scroll is a layer-2 blockchain that uses zero-knowledge (ZK) technology. Its mainnet started operating in October and has secured $676 million in total value locked (TVL),…

Phoenix, the crypto analytics site, has released a list of the top-performing NFT projects according to their social media engagement in the last 24 hours. FET and FLOKI top the list with 8.2k and 7k engaged posts, respectively. TOP #NFT PROJECTS BY SOCIAL ACTIVITY$FET $FLOKI $ICP $APE $RENDER $RARE $NAKA $VRA $XTZ $AXS pic.twitter.com/DVom41FN5v — PHOENIX – Crypto News & Analytics (@pnxgrp) September 9, 2024 Top NFT Projects By Social Activity: A Breakdown by Phoenix FET Fetch.ai is developing a platform to enable the development of an AI-empowered decentralized digital economy. FET is leading the AI market and influencing the…

The crypto market witnessed another volatile event as DOGS, a new meme coin born on Telegram, experienced a dramatic drop. Within hours of its listing on prominent exchanges such as Binance, OKX, Bybit, and others, the coin plunged 25%. The sentiment amongst the DOGS airdrop winners has been mixed. Some are celebrating the airdrop, while others are unhappy with the listing price. DOGS Make it to Top 100 Crypto List Generally, during a token generation event (TGE), there is a sell-off, as airdrop winners cash out. Hence, the price of DOGS declined sharply. Despite this steep decline, DOGS maintains a…

U.S. consumers accumulate debt at a slower rate amid rising credit card delinquencies. Slower borrowing means the fiat-to-crypto onramp will remain constrained, 10x Research said. Although the unwinding of the yen carry trade has likely paused since Monday, stabilizing risk assets, including bitcoin (BTC). Still, other risks remain, such as the slower U.S. consumer borrowing, according to 10x Research’s founder Markus Thielen. Total credit outstanding increased by $8.9 billion in June following an upwardly revised $13.9 billion in May, missing the consensus estimate of a $10 billion increase, data released by the Federal Reserve Wednesday showed. Revolving debt, representing credit…

Tonstakers, the biggest TON blockchain-based liquid staking protocol, has announced its participation in a DeFi incentive project of Toncoin. According to Tonstakers, TON Foundation-driven project targets to pave the way for the wider adoption of the trading pairs of USDt-TON along with improving the liquidity across the expanding TON DeFi network. This huge endeavor partners with well-known DeFi platforms like DeDust and STON.fi. Tronstakers’ New Liquidity Incentives Project Fortifies Liquidity and Offers Lucrative Benefits The chief objective of the program is to fortify $TON liquidity as well as its derivatives. In addition to this, it also focuses on the provision…

Ethereum price is attempting a recovery wave above $2,380. ETH must clear the $2,440 resistance to continue higher in the near term. Ethereum is attempting a recovery wave from the $2,350 zone. The price is trading below $2,440 and the 100-hourly Simple Moving Average. There is a connecting bearish trend line forming with resistance at $2,400 on the hourly chart of ETH/USD (data feed via Kraken). The pair must clear the $2,440 resistance to continue higher in the near term. Ethereum Price Faces Resistance Ethereum price attempted a recovery wave above the $2,440 level. However, ETH failed to clear the…

PayPal’s PYUSD reached $1 billion in supply, per CoinMarketCap data. The stablecoin benefited from its expansion to the bustling Solana ecosystem, with its supply on the network already surpassing that on the Ethereum blockchain. Yield incentives on DeFi protocols played a “huge role” in the growth, 21.co’s Tom Wan said. Payments giant PayPal’s (PYPL) stablecoin PYUSD surpassed the $1 billion mark in market capitalization last week, CoinMarketCap shows. Issued in conjunction with fintech company Paxos, PYUSD achieved this milestone as it more than doubled its supply since June. Despite the broader crypto markets cooling off during the summer doldrums, PYUSD…