Author: NBTC

Meme coins Bonk, Pepe, and Brett are among the top five worst losers in the top 100 cryptocurrencies in the past day, according to Coingecko data. Solana’s dog coin Bonk (BONK) has taken the greatest hit, falling 12.1% to $0.000023 on the day. This comes amid a Bonk DAO vote to burn 100% of the BONK earned by the Decentralized Autonomous Organization (DAO). At the time of writing, the approval is set to pass with 99.3% of the vote. Meanwhile Ethereum’s Pepe (PEPE) is down 9.6% and Base chain’s Brett (BRETT) has fallen 8.1%. These are outsized losses compared to…

The digital assets industry’s Fairshake PAC is chalking up three victories in this week’s congressional primaries. Crypto spending has helped defeat a number of Sen. Elizabeth Warren’s congressional allies, including prominent progressive Rep. Cori Bush in Missouri. Fairshake said it’s securing advertising time in 18 general-election contests, where it’ll spend $25 million on its picks for Congress. The crypto industry has devoted a seven-digit war chest to opposing candidates backed by Sen. Elizabeth Warren (D-Mass.), and that spending may have contributed to some sitting lawmakers losing their jobs, according to the leading political action committee (PAC) funded by digital assets…

Decrypt’s Art, Fashion, and Entertainment Hub. Legendary game publisher Atari is back with its next augmented version of a classic video game, this time bringing the 1976 classic Breakout to Coinbase’s Ethereum layer-2 network Base. As a part of Base’s “OnChain Summer,” players can compete against others for a top spot on the Atari Breakout leaderboard. The players with the highest scores will have a chance to win weekly prizes, including a retro 2600+ game console, gift cards, and more. 🔆 OᑎᑕᕼᗩIᑎ ᔑᑌᗰᗰEᖇ 🔆 The Onchain Arcade is back with @Atari Breakout® Compete for a top spot on the leaderboard…

According to a recent analysis by the Korea Institute of Finance (KIF), the introduction of spot Bitcoin (BTC) exchange-traded funds (ETFs) in South Korea could lead to significant economic disruptions. The report highlights potential unique challenges that the South Korean market might face despite the global trend of approving crypto-linked ETF products. Potential Pitfalls of Bitcoin ETFs in South Korea The recent approval and introduction of spot Bitcoin ETFs in various global markets have sparked significant discussions in the South Korean financial community. Lee Bo-mi, a researcher at KIF, expressed concerns over the potential adverse effects of these products in…

DeFi protocols demonstrated resilience during this week’s market crash, with Aave facing its largest liquidations ever amounting to $300 million on Ethereum mainnet. According to IntoTheBlock, most of the liquidations happened from stablecoin loans against wstETH collateral, the wrapped liquid staking token offered by Lido. Aave liquidations volume by asset. Image: IntoTheBlock Despite ETH crashing by up to 25% within a week, liquidations were successfully executed, rebalancing the protocol and contributing $6 million in profits to the Aave DAO. Notably, the settlement of hundreds of millions in liquidations occurred without relying on a central point of failure, all executed automatically…

Ethereum (ETH) whales have started a huge buying spree today. They have been accumulating ETH throughout the day as the price of ETH is shedding off its recent losses. As per Whale Alert, two major Ethereum transactions were conducted earlier today. In the first transaction, a whale bought 10,986 ETH from crypto exchange Binance and transferred it to their private wallet. This Ethereum purchase is worth around $29.26 million at the current price level. Shortly after it, Whale Alert detected another ETH transfer. This time, a whale purchased 10,000 ETH from Binance and it was also transferred to the whale’s…

A federal judge imposed a $125 million fine on Ripple after finding last year that its institutional sales of XRP violated federal securities laws. The judge reiterated her view that Ripple’s programmatic sales of XRP to retail clients through exchanges did not violate federal securities laws. A federal judge ordered Ripple to pay $125 million in civil penalties and imposed an injunction against future securities law violations on Wednesday. District Judge Analisa Torres, of the Southern District of New York, imposed the fine after finding that 1,278 institutional sale transactions by Ripple violated securities law, leading to the fine. The…

Japan’s Metaplanet issues ¥1 billion in bonds at 0.5% interest to purchase Bitcoin, boosting its cryptocurrency holdings. The bond issuance, guaranteed by CEO Simon Gerovich, aims to fund Metaplanet’s long-term Bitcoin acquisition strategy. Metaplanet holds 141.0727 Bitcoins, valued at ¥1.45 billion, recording long-term assets at cost and short-term at market value. Metaplanet, a Japanese firm, has announced that it’s expanding its Bitcoin portfolio by issuing ¥1 billion in 0.5% bonds. This decision, made during today’s Board of Directors meeting, will see the raised capital allocated for the purchase of Bitcoin. JUST IN: 🇯🇵 Japanese public company Metaplanet issues ¥1 billion…

Ethereum layer-2 wallet addresses using Uniswap’s decentralized exchange nearly doubled last month compared to numbers recorded in June. Dune analytics data showed 8.5 million Ethereum (ETH) addresses trading on Uniswap via L2s like Arbitrum, Base, Optimism, Polygon, and ZKSync, setting a new all-time high. Uniswap is the biggest DEX on any blockchain, generating almost $100 million in fees in June. ETH layer-2s run atop or adjacent to Ethereum’s mainnet to help the second-largest decentralized network in crypto. Although Vitalik Buterin’s co-created blockchain is known for secure permissionless transactions, on-chain bottlenecks often arise, increasing the cost of sending assets. L2s were…

Ethereum (ETH) has turned inflationary in 2024 for the first time since 2022. Despite burning 465,657 ETH since the start of the year, the network has added a net total of 75,301 ETH to its supply. The shift from deflationary to inflationary occurred in Q2 2024, as network activity declined. During this quarter, 228,543 ETH were emitted versus 107,725 ETH burned, resulting in 120,818 ETH added to the blockchain. Uniswap remains the largest burner of ETH, having burned 71,915 ETH in 2024. However, its burn rate dropped 72.4% quarter-on-quarter to 15,031 ETH in Q2, down from 54,413 ETH in Q1.…