Author: NBTC

The stablecoin market has been picking up speed lately, and between Aug. 9 and Aug. 18, 2024, it expanded by $2.21 billion. During this period, Tether’s supply ballooned by an additional 1.26 billion USDT. Stablecoin Boom: $2.21B Growth Driven by Tether and PYUSD Between Aug. 9 and Aug. 18, 2024, the stablecoin economy expanded by $2.21 billion, building on the $1.53 billion growth seen from Aug. 6 to Aug. 9. Tether (USDT) claimed a dominant 57.01% of that growth, adding 1.26 billion USDT to its supply over the eight-day span. With this boost, USDT’s $116.88 billion market cap now makes…

Recently, Santiment, a leading provider of analytics for cryptocurrency markets, highlighted an intriguing shift in investor sentiment towards Bitcoin. According to their latest report, there’s a surge in positive discussions around Bitcoin, marking the highest level of bullish sentiment since mid-May. This spike in optimism suggests that a significant portion of the crypto community believes that Bitcoin’s price could soon reach new heights. The data from Santiment indicates that the narrative within crypto-focused social platforms and forums has been overwhelmingly positive this week. Analysts and investors alike are speculating about the potential for Bitcoin to surpass the $70,000 mark in…

The Real World Assets (RWA) market is growing rapidly, with its market cap of $6.68 billion, showing a daily change of -0.14%. This market continues to gain traction as traditional assets such as real estate and gold are being brought onto blockchain platforms through tokenization. This development offers investors new opportunities for secure, transparent, and liquid investments previously inaccessible in the traditional financial system. 📊 The Real World Assets (#RWA) market is growing rapidly, with a current market cap of $6.68 billion. From tokenized real estate to tokenized gold, RWAs are transforming how we invest in traditional assets by bringing…

The cryptocurrency market is gearing up for an eventful week with several key developments expected to impact prices and sentiment. Here are some that traders and investors should keep on their radar: Bitcoin (BTC): FOMC Minutes to be Released on August 21 The minutes of the Federal Open Market Committee (FOMC) to be released on August 21 could have a broad impact on financial markets, including Bitcoin. Babylon Launch: New Bitcoin Staking Protocol Goes Live Babylon, a new protocol for staking Bitcoin, is launching on mainnet next week. The platform aims to provide users with a way to securely stake…

Bitcoin (BTC) continued its sharp pullback after a fast start to the week, with the price retreating to a two-week low of of $62,700. At press time, bitcoin was lower by 5.5% over the past 24 hours, outperforming the broader CoinDesk 20 Index’s 6.1% decline. Ether (ETH) was off 5.8%, Solana (SOL) 10% and XRP (XRP) 10%. It was roughly 72 hours ago when bitcoin touched more than a four-month high just above $70K. Markets received what nominally was good news on Thursday morning, with the U.S. July ISM Manufacturing PMI falling far more than economist expectations, sending interest rates…

Phoenix Group, a prominent platform for analytics about crypto, has recently shared a list of top crypto projects based on weekly growth in total value locked. Phoenix Group’s list of top crypto projects with maximum weekly TVL development includes $RARE, $MINT, $AURA, $JUP, $KSP, $SCA, $ASTRO, $SAKAI, $BETA, and $TRU. The analytics firm disclosed the details of the respective projects on its official social media account. TOP PROJECTS BY WEEKLY #TVL GROWTH$RARE $MINT $AURA $JUP $KSP $SCA $ASTRO $SAKAI $BETA $TRU pic.twitter.com/BEoRGp5uCH — PHOENIX – Crypto News & Analytics (@pnxgrp) August 18, 2024 RARE Leads the Crypto Projects Based on…

This week, Bitmain introduced its latest bitcoin mining machine, which packs an impressive punch with a reported output of 860 terahash per second (TH/s). To put that in perspective, this new rig churns out 81.81% more hashpower than its predecessor, the Antminer S21 XP Hydro. And if we go way back, it’s a mind-blowing 477,677% more powerful than the original Antminer S1, which hit the scene in 2013. From 0.18 TH/s to 860 TH/s — ASIC Performance Ceiling Still Out of Reach On Sept. 7, 2024, Bitcoin’s hashrate hit an all-time high of 693 exahash per second (EH/s), according to…

Throughout July, bitcoin has climbed 2.5% against the U.S. dollar, despite a midweek dip to $64,350 per coin. This month has been marked by notable events, including movements by Mt Gox and the U.S. government transferring billions. Additionally, 76 transactions from dormant bitcoin wallets, created between 2010 and 2017, spent 6,536.17 BTC, amounting to $424 million. 6,536 Idle Bitcoins Stir Several long-inactive bitcoin addresses, untouched for seven years or more, have become active for the first time since their creation. Recently, Bitcoin.com News covered the significant amounts of BTC moved by wallets created in 2017. Notably, addresses from 2013 were…

Sky, the decentralized finance lender previously known as MakerDAO, will move forward with a plan to offboard wrapped bitcoin (WBTC) as collateral, following a vote that closed on Thursday and garnered overwhelming support from the project’s community. The matter has been closely followed in crypto markets, since the Sky platform has $200 million of loans collateralized by the token, and since WBTC is one of the biggest cryptocurrencies, with nearly $10 billion outstanding. BA Labs, an influential advisor to the project, had initially floated the idea of reducing exposure to WBTC in August, before confirming the plan last week with…

The launch of the SunPump memecoin launchpad of Justin Sun has resulted in significant revenue generation for the Tron Network. Lookonchain, a popular on-chain analytics provider, has revealed that a huge surge has taken place in activity on the Tron Network, specifically in the generation of meme tokens, resulting in the addition of 1.84M TRX. The analytics firm took to its official X account to provide insights into this development. Since #SunPump launched, 4,844 #MEMEcoins have been created on #TronNetwork, bringing a revenue of 1.84M $TRX($246.6K). pic.twitter.com/R8n7wZHUiy — Lookonchain (@lookonchain) August 18, 2024 Tron Network Generates Massive Revenue after SunPump’s…