Author: NBTC

Leading DeFi protocols Aave and Sky (formerly MakerDAO) have partnered to launch Sky Aave Force, aiming to bridge the gap between decentralized finance and traditional financial systems. In a statement on Sept. 3, the initiative was described as a crucial step toward creating a more resilient and aligned ecosystem, with goals of broader accessibility, increased adoption, and collaborative progress. This collaboration unites two of the largest DeFi platforms to foster sector growth. According to DeFillama data, Aave is the second-largest DeFi protocol, with over $18 billion in total value locked (TVL). On the other hand, Sky is known for issuing…

Cardano founder Charles Hoskinson recently highlighted the achievement in Ethereum’s development. On social media, Hoskinson lauded the ERC-20 token standard, calling it “the best piece of work” in Ethereum’s history. This recognition highlights the crucial early advancement for Ethereum – the ERC-20 token standard. This was one of the best pieces of work in the history of Ethereum https://t.co/9UAz6kWS2M — Charles Hoskinson (@IOHK_Charles) August 29, 2024 Grigore Rosu, founder of programming language companies, Pi Squared and Runtime Verification, also chimed in on his X handle to emphasize the importance of the first formal specification for ERC-20 tokens, developed in 2017.…

An early Shiba Inu whale, who made astronomical gains in the 2021/2022 market cycle, shifts part of their SHIB investment to FET. The development was shared by prominent blockchain analytics platform Spot on Chain today, emphasizing that the decision has started paying off. Transaction Details According to Spot on Chain, the unknown whale had swapped 255.62 billion SHIB (worth $3.5 million) for 3.114 million FET over the past 10 hours. Interestingly, the investor’s decision to exchange some of their SHIB holdings for FET appears to be a smart move, as the price of FET pumped by 14% shortly after that.…

Tether chief executive Paolo Ardoino thinks geopolitical tensions and macroeconomic trends are going to increase the importance of scarce assets like Bitcoin (BTC) and gold. Ardoino says in a new interview with investor and venture capitalist Preston Pysh that he doesn’t think the globe is headed towards “a nicer period for humanity,” citing bubbling geopolitical issues across the world. “There’s so much tension starting from Europe: very, very high tension, to the US, to everywhere else in the world. Things are not nice. And so having an exposure to scarce assets like Bitcoin and gold is the way to go.”…

Leading DeFi protocols Aave and Sky (formerly MakerDAO) have teamed up to launch the Sky Aave Force, aiming to bridge the gap between decentralized finance and traditional financial systems. In a statement on September 3, the initiative was described as a major step towards creating a more resilient and aligned ecosystem with the goals of greater accessibility, adoption, and shared progress. The collaboration brings together two of the largest DeFi platforms to help drive the growth of the sector. According to DeFillama data, Aave is the second-largest DeFi protocol with over $18 billion in TVL. Sky, on the other hand,…

Justin Bons, founder and CIO of Cybercapital, a Europe-based cryptocurrency fund, has warned about the effect that the rise of Ethereum L2s is having on the main chain. Bons stated that the activity that Ethereum should be experiencing is happening on L2s, and that is bringing fragmentation and more inflation to the ETH ecosystem. Cybercapital Founder Justin Bons Warns About L2’s ‘Vampire Attack’ on Ethereum Justin Bons, founder and CIO of Cybercapital, has warned about the pernicious effects that the growth of second-layer projects is having on the health of the Ethereum ecosystem. Bons explained there are several things he…

Citi’s Senior Global Economist Robert Sockin suggested that the Fed could make a significant rate cut of up to 125 basis points by the end of 2024. Speaking on the Morning Brief, Sockin discussed the current state of the U.S. economy, saying that the second quarter saw faster-than-expected growth, with GDP revisions showing a 3% increase, ahead of the 2.8% forecast by economists. Despite the positive growth data, Sockin expressed concerns about potential economic risks as the year progresses. While consumer spending remains strong and the labor market is showing resilience, he said recent data has missed expectations, indicating a…

As the NFT market is evolving rapidly, social media is evidence of the increasing demand for NFT, AI, and other narratives on social media platforms. Based on the engaged posts and interactions, an on-chain analytical firm shared a list of artificial intelligence (AI) and non-fungible token (NFT) projects during the last seven days. TOP #NFT PROJECTS BY SOCIAL ACTIVITY$FET $ICP $RENDER $VRA $RARE $XTZ $STX $ROSE $NAKA $APE pic.twitter.com/iab10HdvDM — PHOENIX – Crypto News & Analytics (@pnxgrp) August 30, 2024 This report analyzes AI and NFT projects on two parameters i.e., the total number of posts that have community interaction…

Bitcoin (BTC) is currently encountering its first significant support level following a short-term decline, according to data from CryptoQuant. This development coincides with notable liquidations in the market. It also provides valuable insights into the prevailing sentiment among traders. Bitcoin is encountering its first support level following a short-term decline“BTC returned to the initial long liquidation area of 58.25k and began to stabilize there.” – By @3AMRTAHA_ Full post 👇https://t.co/y7jrmWsEu8 pic.twitter.com/8b0tWtuBNW — CryptoQuant.com (@cryptoquant_com) August 13, 2024 Bitcoin Stabilizes After Retesting $58,250 Liquidation Zone The BTC Longs/Shorts Liquidated Delta is an indicator presented on CryptoQuant that denotes the disparity between…

Banking giant JPMorgan recently commented on the underwhelming performance of spot Ethereum exchange-traded funds in the U.S., pointing to their larger-than-expected outflows from Grayscale’s ETHE. These products have suffered from roughly $500 million worth of outflows since their launch. As reported by U.Today, JPMorgan predicted that Ethereum ETFs would flop despite some bullish projections by crypto-native firms. Still, the relentless outflows recorded by ETHE were somehow a surprise even for the banking giant. Ethereum ETFs made their much-anticipated debut in July after the U.S. Securities and Exchange Commission unexpectedly greelit them in June. Unfortunately for the bulls, these products started…