Author: NBTC

Fidelity, a leading U.S. asset management firm with over $4.9 trillion in assets, has achieved a significant break in the spot Ethereum ETF market. Fidelity has stayed ahead of other approved issuers in the past two days, including BlackRock. Other asset managers struggle to keep pace According to data from Farside Investors, Fidelity’s Ethereum ETF (FETH) recorded inflows of $7.9 million and $14.3 million on Aug. 21 and 22, respectively. This marks a significant development, considering that asset manager BlackRock did not register any inflows on either day under consideration. Aside from Fidelity, the only other asset managers with net…

Details of the phase 2 rewards for users have been revealed by Blast, an Ethereum Layer 2 network established by NFT marketplace Blur. With 10 billion tokens allocated, the second round of user rewards—akin to the first round—will be split between Blast Points and Blast Gold, according to a blog post. Blast targeted 17 billion tokens for its first-phase incentives beginning this week. “Phase 2’s main goals are to support the creation of mobile dapps and incentivize users to use those dapps via the Blast App,” company wrote in the post. Five billion Blast tokens, or half of the second-phase…

Stablecoins are now a massive part of the crypto industry. You can’t ignore them even if you tried. Over the past four years, stablecoin transactions have skyrocketed, going from $17.4 billion to a mind-blowing $4 trillion. Right now, the entire inter-currency market was valued at $94.8 billion, and stablecoins took the lion’s share, holding 91.7% of the market. USDT alone is hogging 83.3% of that. But, despite all this action, stablecoins aren’t exactly living up to their name. They’ve got issues, mainly because they lack the backing of major financial institutions. Now, with governments in places like Hong Kong and…

Okto wallet, the self-custodial wallet developed by Indian crypto exchange CoinDCX, has secured a business license from RAK Digital Assets Oasis, a free-trade zone in the United Arab Emirates. According to a press release shared with crypto.news, the new license positions Okto as the first web3 wallet to have received a license to operate in RAK DAO. With this new license, Okto is expected to gain a strategic advantage in the region. The Okto wallet was launched in 2023 and has since amassed over one million users. With support for over ten blockchain networks, including Ethereum, Base, BSC, Arbitrum, Solana,…

While Bitcoin (BTC) is having difficulty recovering after the sharp drop below $50,000 in early August due to the decline in global markets, institutional investors continue to sell BTC. While these sales indicate a possible wave of institutional sales, according to Lookonchain’s post, Ceffu deposited $7 million worth of BTC during the day. At this point, Lookonchain reported that Ceffu, a custody platform affiliated with the Binance Exchange, has deposited a total of 3,568 BTC (worth $211.6 million) to Binance since July 31. Considering that Ceffu provides custody and liquidity solutions for institutional clients, this large BTC transfer in a…

Kamino Finance has increased the global borrowing cap for PayPal’s stablecoin, PYUSD to $20 million. This expansion allows users to borrow PYUSD by using any collateral asset they hold on the platform. Notably, the PYUSD borrow rate remains consistent, even at a utilization rate of 80%. This provides a stable borrowing environment regardless of the loan amount. 1/ Global $PYUSD borrow caps have just been raised to $20M on Kamino — which means you can use ANY collateral assets to borrow!Significantly, the $PYUSD borrow rate is designed to remain flat regardless of borrow size — up to 80% utilization👀 pic.twitter.com/jiyya3WWtw…

Ethereum has been facing significant resistance at the $2.8K level, which marks the lower boundary of a multi-month wedge pattern. The price action suggests that it might be completing a pullback, potentially driving the price down toward the $2.1K threshold. By Shayan The Daily Chart Ethereum has been grappling with the multi-month wedge’s lower boundary at $2.8K for several weeks, suggesting a possible pullback completion. After retracing toward this key resistance level, the price has entered a period of slight consolidation, reflecting insufficient market demand. The low-volatility action near this resistance suggests that the pullback might be nearing its end.…

Tron has redefined the landscape of global stablecoin transactions, claiming a staggering 97.62% share of the market as reported by Orbital. This remarkable dominance outshines other major blockchains like Ethereum, Solana, Binance Smart Chain, and Polygon, which have considerably lesser shares. This shift highlights Tron’s increasing influence and its strategic positioning within the stablecoin sector. Transforming Global Business Operations Tron’s surge in the stablecoin transaction market is more than a statistic; it represents a transformative shift in how businesses operate internationally. The blockchain’s efficiency, cost-effectiveness, and high transaction speed offer an appealing alternative to traditional financial systems, particularly in emerging…

Usually, the halving of Bitcoin creates the conditions for a significant increase in the price of the cryptocurrency, but this time everything could be different. In fact, compared to the first 3 halvings in the history of crypto assets, in this latest block reward halving event, things did not go as expected. Bitcoin has updated its all-time high even before the four-year update, while 4 months later it sees a bear price performance.. What can we expect now? Let’s see everything in detail below. The fourth halving in the history of Bitcoin The price of cryptocurrency after the first months…

As Ethereum (ETH) continues to solidify its position as the leading blockchain platform for decentralized applications, a new development has been announced that could significantly impact its price trajectory. Currently trading at $2,658, Ethereum has shown a year-to-date (YTD) gain of 16.5%, a one-week gain of 3.4%, and a one-day gain of 1.36%. Sony Block Solutions Labs, a venture between the Sony Group and Singapore-based Startale Labs, has announced the creation of a new Layer-2 blockchain called “Soneium”, designed to attract app developers across a wide range of sectors, including entertainment, gaming, finance. With Sony’s launch of the Soneium blockchain,…