Author: NBTC

Chain abstraction here, chain abstraction there. You’ve probably heard it by now when people talk about “Web3 UX” and other such cool-sounding words and ideas. Well, what the heck is it? Formally, chain abstraction is an emerging concept in blockchain tech that aims to simplify the user experience of interacting with multiple blockchain networks. If you’ve ever wondered how “mass adoption” or, that is to say, the broader adoption of blockchain-based technologies could be spread, chain abstraction is one of the ways to achieve this. At its core, chain abstraction seeks to remove the complexities and manual processes typically required…

The stage looks set for Bitcoin to surpass its previous all-time high, fueled by a surge in global liquidity, several macroeconomic analysts argue. In recent weeks, the global macro financial outlook has been showing signs of a shift. Over the weekend, Goldman Sachs economists announced that they had lowered their estimations of the probability of a U.S. recession in 2025 from 25% to 20%. This change came after the latest U.S. retail sales and jobless claims data were released, which suggested that the U.S. economy might be in better shape than many had feared. The Goldman Sachs analysts added that…

A union representing the National Football League’s athletes sued DraftKings on Monday, accusing the sports gaming giant of reneging payments tied to a “losing bet” on the NFT space. The lawsuit, filed by the National Football League Players Association (NFLPA) in New York federal court, accuses DraftKings of violating the terms of a licensing agreement, which provided DraftKings the rights to use NFL players’ likenesses in its Reignmakers NFT product. DraftKings axed its NFT-powered gaming experience last month, citing “recent legal developments.” The move followed a denial of DraftKings’ motion to dismiss a class action lawsuit filed in Massachusetts federal…

The seven-day moving average of the daily trading volume of the largest altcoin Ethereum (ETH) has fallen by 55% in the last 30 days, The Block reported. Ethereum transaction volume and operations dropped significantly and sharply in August, most recently dropping to a monthly low of 1.07 million daily transactions on the network on Sunday. The seven-day moving average of Ethereum trading volume has fallen from $6.56 billion on July 26 to $2.9 billion today in U.S. dollars. Total monthly trading volume on Ethereum in July was $134.71 billion, while August trading volume is currently down to $91.46 billion. Despite…

Investors with a background in traditional markets are exploring multiple avenues to invest in cryptocurrencies beyond direct exchange purchases. One popular method is investing in MicroStrategy (MSTR) shares, particularly because Michael Saylor has transformed the company into an unofficial Bitcoin (BTC) ETF product. But does this strategy outperform others? Investment Dynamics of MSTR Shares Stock market enthusiasts looking to capitalize on Bitcoin’s growth have been buying MSTR shares since late 2020, prior to any ETF approvals. MicroStrategy’s significant BTC holdings mean that as Bitcoin’s value rises, so does the value of MSTR shares. This approach served investors well, with MSTR…

The latest LUNC burn of 1.7 billion tokens from Binance significantly reduces the Terra Classic supply, aligning with increased trading volume. Binance has completed another significant LUNC (Luna Classic) burn to start in July. The burn event led to a substantial decrease in the total LUNC supply, as highlighted by recent charts posted by community figure Rexyz. @binance completes another epic $LUNC burn to start July. As trading volume increases so do burns.Massive thanks to @cz_binance and @_RichardTeng Support all those burning for you. Together we are stronger. ❤️@_Terraport_ @TerraCasino_io pic.twitter.com/Xn4xFMsCYf — Rexyz (@RexYellerBelly) July 2, 2024 The burn activity…

Ripple’s Chief Legal Officer Stuart Alderoty recently took to X to highlight the recent setback for the SEC in its lawsuit against Kraken. Alderoty tweeted, “Another court, this time in the Kraken case, confirms there’s no such thing as a crypto asset security. Bad news for the SEC, whose entire regulation-by-enforcement strategy hinges on that failed premise.” Another court, this time in the Kraken case, confirms there’s no such thing as a “crypto asset security.” Bad news for the SEC, whose entire regulation-by-enforcement strategy hinges on that failed premise. https://t.co/gSSOmGDQQU — Stuart Alderoty (@s_alderoty) August 24, 2024 According to Kraken’s…

Grass, a depin AI web crawling project, has announced the end of its closed beta phase and outlined the requirements that users must fulfill to be eligible for an upcoming airdrop. The project announced that it will provide more details about the distribution of its token rewards, but that weighted epoch network participation would be the basis for eligibility. AI Depin Project Grass Closes Closed Beta Phase, Prepares for Airdrop Distribution Grass, an artificial intelligence (AI) decentralized physical infrastructure network (depin) project that seeks to solve the data poisoning problem for training large language models (LLM), has announced that it…

Bitcoin (BTC) is currently in red regarding price performance, dragging the rest of the crypto market along with it. Amid the continuous bearish price action, the latest data has revealed that Bitcoin short-term holders now face losses compared to their initial purchase prices. Onchain data expert James Check highlighted this in a recent post on X, disclosing that over 80% of Bitcoin’s short-term holders, those holding their BTC for less than 155 days, have bought their tokens at prices higher than the current market rate. Underwater Investors, Implication For Bitcoin This situation of the majority of short-term holders being in…

You don’t need to be a DeGods holder to notice their presence. Even if you’re just casually involved in Crypto Twitter or the NFT community, DeGods bullposting has become a constant fixture on the timeline. The level of passion surrounding the project mirrors the intensity often seen in fandoms like BTS or Taylor Swift, albeit within the microcosm of crypto. Some holders and team members call it a cult. Not long ago, the project was facing constant criticism for its decline in floor price and what some NFT holders saw as a lack of vision for the future. Now, DeGods…