Author: NBTC

Bitcoin (BTC) slumped 5% in the last 24 hours, reaching the sub-$57,000 price level for a brief period. This could be related to the cautious optimism that the FOMC minutes released this week showed to the market, signaling a wait-and-see approach from the Fed. Jag Kooner, Head of Derivatives at Bitfinex, added that the NFP numbers coming out tomorrow could lead BTC to stabilize or go for a deeper correction in the worst-case scenario. “The cautious tone of the Fed minutes, indicating a wait for more definitive economic data before rate cuts, could help to bring stability to Bitcoin prices…

Superstate’s new tokenized fund will generate yield based on “cash and carry” investment strategy. CEO Robert Leshner said the new fund is “highly-regulated product” for qualified investors. Blockchain-based asset management firm Superstate has introduced a new tokenized fund that will provide yield based on the popular “cash and carry” investment strategy. The USCC token, an ERC-20 token on the Ethereum blockchain, will generate yield for holders by buying spot bitcoin (BTC) and ether (ETH) and taking an equal size of short positions of, or selling, BTC and ETH futures. The trade offers a delta-neutral position, profiting from the market without…

Global asset management firm Franklin Templeton Investments has shared its bullish stance on Solana (SOL). Its team has explained why Solana is a major player in the industry and how it is going to shape the industry in the future. This support from Franklin Templeton is considered a major bullish catalyst for SOL. The firm tweeted earlier today that there are many important developments that are going to drive the crypto industry forward. According to the firm, this is beyond Bitcoin (BTC) and Ethereum (ETH) – two leading players in the sector. Franklin Templeton emphasized that Solana has emerged as…

Anatoly Aksakov, the Chairman of the Russian State Duma Committee on the Financial Market, has stated that ‘Hamster Kombat’, a popular tap-to-earn game, should be stopped in Russia. Aksakov emphasized that ‘Hamster Kombat’ manipulates the psyche of citizens, leading them to believe that they can become wealthy with minimal effort through playing this type of game. Hamster Kombat Is ‘a Scam’ and ‘Must Be Stopped,’ Russian State Duma Financial Market Committee Leader States Hamster Kombat, the tap-to-earn game where players take the role of a hamster who is the CEO of a cryptocurrency exchange, has garnered a bad reputation from…

Decrypt’s Art, Fashion, and Entertainment Hub. The Machines Arena, an Overwatch-style hero shooter viewed from an overhead perspective, is launching a play-to-airdrop campaign leading up to the debut of its TMA token on Ethereum scaling network Ronin. Starting July 30, players will be able to earn points through activities such as completing quests and leveling up. The amount of points you earn ranks you on the play-to-airdrop (P2A) leaderboard, which will decide the amount of TMA tokens you receive. The event will end right before the token generation event (TGE), the action that will launch TMA onto the Ronin network.…

Decentralized crypto aggregator Jupiter has found itself in the middle of controversy after announcing a collaboration with an exposed influencer. Solana decentralized exchange aggregator Jupiter has sparked a furious outrage in the crypto community following its announcement of a collaboration with Irene Zhao, a Singaporean influencer previously implicated in multiple crypto-related dubious activities. In an X announcement on Jul. 22, the anonymous founder of Jupiter, known as @weremeow, unveiled the collaboration aimed at improving the “meme coin meta” and giving “degens an on-chain mom to care for them when they are sad.” With the initiative, the Jupiter founder said the…

Bitcoin’s mining profitability has recently seen a significant uptick, providing much-needed relief to BTC miners. Various factors have contributed to this surge in profitability, including the recent increase in Bitcoin’s price. Crypto analyst Ali Martinez tweeted that miners stand to gain as the average mining cost is currently at $69,510, with BTC trading close to this level. Bitcoin miners are experiencing a substantial increase in profitability due to favorable market conditions and network adjustments. Significant Increase in Bitcoin Mining Profitability Bitcoin miners have lately seen a noteworthy rise in profitability, bringing much-needed respite in a competitive landscape. Renowned crypto analyst…

Santiment, a leading cryptocurrency market intelligence platform, has recently highlighted a notable shift in transaction patterns among Ethereum holders. This shift coincides with the introduction of nine new Ethereum-based spot Exchange Traded Funds (ETFs), marking a significant development in crypto-financial products. Since July 17th, the landscape of Ethereum transactions has undergone a dramatic transformation. According to Santiment’s latest data, there has been a surge in the volume of Ethereum transactions that exceed $100,000. This surge is quantitatively impressive, with Ethereum transactions of this magnitude increasing by 64% compared to Bitcoin and a staggering 126% when compared to USDT transactions on…

As Tether has grown exponentially over the years, it has also altered the composition of what provides backing for every one of its tokens. In some quarters, this has been perceived as positive, particularly the fact that the company has moved away from commercial paper of unknown quality into US treasuries and repo markets. However, Tether also has a variety of ‘other investments’ — many of which have been shared publicly on its Crunchbase profile. Celsius Network Tether’s first investment was in the now-defunct crypto lending platform Celsius. Run by Alex Mashinsky and his cronies, the lending company declared bankruptcy…

Ethena gained bullish momentum after Securitize, the distributor of BlackRock’s USD Institutional Digital Liquidity Fund (BUIDL), proposed a significant investment. Late on July 23, Ethena Labs, the company behind the USDe stablecoin, posted on X that Securitize requested a $34 million allocation in BUIDL from the company’s $45 million reserve fund. This could allow Ethena Labs to gain exposure to the U.S. Treasury funds and make “low-risk” investments and generate yield. The second of which was from Securitize, distributors of @BlackRock BUIDL: pic.twitter.com/tAy7HtMj9y — Ethena Labs (@ethena_labs) July 23, 2024 Following the announcement, Ethena (ENA) surged by 11.2% and is…