Author: NBTC

Spot bitcoin ETFs saw net inflows of $790 million even as the price of bitcoin tumbled 7% in June. Previously, the funds experienced heavy outflows when the underlying cryptocurrency declined sharply, for example in April. The idea that the rapid growth in assets for the spot bitcoin ETFs was a result of the herd chasing “number go up” price action received a setback in June. Data from Bloomberg Intelligence shows the spot funds saw net inflows of $790 million even as the price of bitcoin (BTC) tumbled 7%. Leading the way was what’s now the largest of the spot ETFs,…

A new report from the institutional division of crypto exchange Coinbase, prepared in partnership with crypto intelligence firm Glassnode, reveals that despite a period of consolidation in the second quarter of 2024, the cryptocurrency market remains robust and continues to grow. The second quarter reflected price consolidation, during which the prices of major assets remained in a relatively tight price window, the report said. Contrasted with the first quarter’s meteoric rise, this suggests market indecision. Even so, the broader market indicators suggest sustained health and potential for future growth. “The price correction in the second quarter is both healthy and…

The moderate increase in prices in the US in June, together with the decline in the cost of goods and the rise in the cost of services, underlined an improving inflation environment that could enable the Federal Reserve to start reducing interest rates in September. A report released Friday by the U.S. Department of Commerce showed a slight slowdown in consumer spending last month. Signs that price pressures are easing and the labor market is cooling could boost Fed officials’ confidence that inflation is moving toward the U.S. central bank’s 2% target. The FED will hold its next policy meeting…

The Shibburn wallet tracker popular within the Shiba Inu community has reported that since Sunday morning, one of the key SHIB metrics – burn transactions – have demonstrated an impressive increase. The data source specified that those burns were performed by just two anonymous SHIB whales. SHIB burns surge over 545% Shibburn spreads the word about a substantial cumulative transfer of 10,359,000 SHIB meme coins to unspendable blockchain wallets made between sixteen and thirteen hours ago. There have been four transactions all in all so far made by two anonymous wallets. The first wallet, ending in -205b5 burned two lumps…

According to Josh Neuroth, the Vice President of Product at Quicknode, Layer-2 (L2) scaling solutions known as zero-knowledge (ZK) rollups can potentially solve the most pressing issues in blockchain technology. Hence, the buzz around them is “well-founded.” He added that unlike the speculation-driven non-fungible token (NFT) frenzy, interest in ZK rollups is grounded in their technical merits and capacity to improve blockchain infrastructure. ZK Rollups: A Foundational Technology In his written responses sent to Bitcoin.com News, Neuroth asserts that because ZK rollups provide tangible benefits in the form of transaction throughput and data confidentiality, these L2 solutions are more of…

It’s rumored that NASDAQ once owned bitcoin seized from dark web marketplace Silk Road and, by extension, customers of disgraced Japanese crypto exchange Mt. Gox. The story begins in December 2014, when Barry Silbert’s Bitcoin Investment Trust spent less than $17 million to acquire 48,000 bitcoins seized from the Silk Road at a US Marshals auction. That trust would later morph into the Grayscale Bitcoin Trust (GBTC), but in late 2015, there was a time when NASDAQ itself might have controlled those bitcoins. To understand the NASDAQ connection, we need to look back into Silbert’s career, specifically to 2004 when…

Ethereum founder Vitalik Buterin has responded to recent claims by Ethereum team lead Péter Szilágyi, “karalabe.eth,” regarding the alleged centralization of the Ethereum network. Szilágyi claimed in an X post that PeerDAS was the direction Ethereum was being taken into with the next forks, intending to raise, although not immediately, the blobs up to a staggering 32MB. > The research team fully embraced the idea to centralise everything as long as it can be verifiedHaving just come out of EF research workshops going on for the past week, I can confirm this is false, we had all kinds of discussions…

David Mericle, Goldman Sachs’ Chief US Economist, recently appeared on Bloomberg’s ‘Closing Bell Overtime’ to discuss the economy, potential interest rate cuts and more. Mericle’s comments came after the June personal consumption expenditures (PCE) index, the Fed’s preferred inflation gauge, rose 2.5 percent from a year ago, in line with forecasts. This led to speculation about whether signs of a slowdown in inflation would accelerate the FED’s interest rate cut schedule. When asked about the possibility of a rate cut in September, Mericle said he was sympathetic to the idea but doubted its likelihood. He stated that the FED will…

Starknet collaborates with Informal Systems to join the interchain, enhancing blockchain interoperability. Integrating IBC into Starknet allows for seamless liquidity flow between Starknet and other networks. Informal Systems announced on Twitter that the Ethereum layer-2 network, Starknet, is working with them to join the interchain. The goal of this partnership is to integrate the Inter-Blockchain Communication (IBC) protocol into Starknet, allowing for application composability across various layer-2 (L2) and layer-1 (L1) networks. The integration of IBC will allow for the bidirectional flow of liquidity between Starknet and the wider interchain, promoting increased interoperability and ecosystem cohesiveness. 1/ @Starknet 🤝 @informalinc…

Bitcoin & Beyond is an educational series by the team at The Rollup focused on a new and emerging class of builders in the Bitcoin ecosystem. Through spaces, panels, and interactive presentations, the objective is to provide deep technical insights into innovative scaling projects. In an interview with Chase from Molecule, we dive into the growing appetite for next-generation virtual machines (VMs) aimed at enhancing Bitcoin’s programmability and scalability. Molecule is one company at the forefront of this experiment. Their attempt to implement Solana’s Virtual Machine (SVM) with Bitcoin is a strong signal that builders are also considering alternatives to…