Author: NBTC
TrueUSD, the dollar-pegged stablecoin affiliated with Justin Sun, has seen its market cap collapse more than 50% from $1.29 billion on March 15 to $615 million on March 22, according to data from CoinMarketCap. This mass redemption of TrueUSD follows Binance’s delisting of several TrueUSD pairs on March 15. TrueUSD spent much of February struggling to maintain its peg, falling as low as $0.95. TrueUSD’s market cap has collapsed from $1.29 billion to $615 million during March. A review of the attestations provided by TrueUSD also seem to show that it no longer has United States treasury bills in its…
Japanese telecoms companies are moving into the web3 space, with a subsidiary of the communications giant NTT set to launch a crypto wallet. Per the Japanese media outlet Project Design Online, NTT Digital will launch its wallet “by the end of 2024.” The company has partnered on the project with the US-based now.gg platform. The wallet is intended for corporate use, and will be named the Scramberry Wallet for Business. Japanese Telecoms Companies Eye B2B Crypto Market Nippon Telegraph and Telephone (NTT) is Japan’s biggest telecoms provider. Its NTT Digital arm is dedicated to web3 and blockchain technology. The firm…
A mysterious Bitcoin address is amassing BTC as the race to a new all-time high continues. According to data from Bitinfocharts, the whale’s wallet now holds over 54,164 BTC–worth around $3.2 billion. A “whale” is an investor who hoards large amounts of cryptocurrency. Because of the size of their Bitcoin holdings, a whale’s moves garner a lot of attention among blockchain sleuths, especially on crypto Twitter. In April, a wallet from the early days of Bitcoin moved over $11 million in BTC after being dormant for 12 years. That same week, another Bitcoin wallet moved $8 million in BTC after…
Decentralized physical infrastructure networking (DePIN) is one of the quickest increasing sectors within Web3. It is influencing individuals in more ways than one in the physical world. DePIN takes the help of incentives for encouraging the provision for a framework that boosts computer rendering to EV charging. For example, Helium is constructing a decentralized wireless network that will come with the fastest growth option globally. It is a mobile service provider that provides $20 monthly for 5G connections via its Helium Mobile network. In the words of the CEO of Helium Foundation, Abhay Kumar, it connects the providers with the…
Decentralized content-sharing platform Solmedia has announced its integration of the Solana blockchain with the latest Filecoin on-chain InterPlanetary File System (IPFS) technology. The enhancement, supported by Solmedia’s native token MEDIA, enables users to benefit from Solana’s high-speed blockchain infrastructure and Filecoin’s secure decentralized storage, which aims to ensure user content is protected and remains unaltered by unauthorized changes or access. A senior representative from Solmedia shared that the company is focused on maintaining free speech and transparency in the Web 3.0 space. The use of Solana and Filecoin, in conjunction with the MEDIA token, is intended to provide users with…
On Saturday, March 2, the valuation of bitcoin cash witnessed a significant increase, climbing over 40% within a 24-hour span to reach a peak of $451 each. This upward trend is attributed to the anticipated halving event, set to happen in 16 days, and the forthcoming 2024 upgrade, which is expected to implement an adaptive block size limit algorithm. Bitcoin Cash Rises Sharply on Halving and Upgrade Forecast Over the weekend, bitcoin cash (BCH) saw its value against the U.S. dollar soar by more than 40%, and over the past month, it has surged by 88%, significantly outpacing BTC’s 30-day…
Meme coins on Solana continue to epitomize crypto’s infamous gambling aspect, where participants may make or lose a fortune with a few clicks. Lookonchain highlighted a trader’s loss of 263.5 Solana (SOL) valued at $46,000 after investing in meme coin LADYF on March 22. The crypto user bought over $50,000 worth of the meme token shortly after it was listed. Minutes later, the coin plummeted, and the trader sold it to recover only 36.49 SOL, about $6,200. According to Dexscreener, LADYF skyrocketed more than five million percent seconds after launching, but the coin has declined ever since. The token’s name…
In a major development, Polyhedra Network has unveiled a groundbreaking method for verifying Zero-Knowledge (ZK) proofs directly on the Bitcoin blockchain. The Polyhedra team discovered a new way to verify Zero-Knowledge (ZK) proofs on. With this, the world’s most popular cryptocurrency’s scalability and efficiency will improve greatly. Our team has developed a novel method for verifying ZK proofs directly on the Bitcoin blockchain, promising significant scalability improvements. 🔍 #Bitcoin #ZKhttps://t.co/ymT1EpLEnr — Polyhedra Network (@PolyhedraZK) March 22, 2024 Polyhedra Network Introduces FRI ZK Proofs for Bitcoin Verification Polyhedra’s breakthrough is crucial to Bitcoin’s history. People are getting more excited about important…
Amid rocketing Bitcoin (BTC) prices, its on-chain addresses demonstrate unbelievable profitability. At the same time, the behavior of long-term BTC holders sends mixed signals to the audience. Bitcoin (BTC) has not been so profitable since November 2021 As Bitcoin (BTC) set a new local high at about $64,000, over 97% of its on-chain addresses are currently profitable. This is the highest level of profitability since November 2021, says leading blockchain data provider IntoTheBlock in its latest On-Chain Insights: Bitcoin Dynamics Supply vs Demand report. Over 97% of Bitcoin addresses reached profitability this week! This week’s newsletter explores Bitcoin’s positioning in…
Ethereum Founder Vitalik Buterin introduced a novel concept called “rainbow staking” during the ETHTaipei 2024 event in Taiwan. Colin Wu, a Chinese reporter, shared an X post on his Wu Blockchain page, giving insights on Buterin’s rainbow staking project. According to Wu’s X post, Buterin highlighted the potential risks involved in centralization, unveiling rainbow staking, “a conceptual framework allowing protocol service providers, whether solo or professional, to maximally participate in a differentiated menu of protocol services.” In a separate blog post, Ethereum elaborated on the key aspects and principles of rainbow staking. Providing a nutshell of the key goals of…