Author: NBTC

HIVE Digital Technologies, a cryptocurrency mining company, certainly has reasons to be pleased, as the last 12 months have presented a much better picture of its operations. After a record weak fiscal year in 2023, during which the company’s revenues fell by 50% and net losses reached $236 million, 2024 proved much more favorable, although profitability was not achieved. The company reported annual revenue of $114.5 million and adjusted EBITDA of $37.5 million for the fiscal year ended March 31, 2024. During the period, the company mined 3,123 Bitcoin and held 2,287 Bitcoin worth $161.3 million on its balance sheet…

As links between the blockchain and real life, oracles bring in outside data to enhance the use and relevance of smart contracts. Of them, Pyth Network has a lot of potential. It guarantees quick and correct price information by tying blockchain applications with market data providers. Pyth has recently made some remarkable strides, broadening its market and beginning to seriously challenge Chainlink, the industry leader. These advancements show how significant Pyth is becoming and suggest that it may completely change the blockchain oracle space. Closer Look at Pyth Network The Advanced Oracle protocol Pyth Network connects blockchain applications with market…

Bitcoin trading during US market hours has surged to unprecedented levels, accounting for 46% of this year’s cumulative volume from January to April. This increase in trading activity is closely linked to the January launch of spot-Bitcoin exchange-traded funds (ETFs). US Dominates Bitcoin Trading, Asia Lags Behind Kaiko Research highlights that the volume of Bitcoin trading spikes at the beginning and close of US trading hours. This pattern correlates with the calculation of net asset values for the ETFs at the close of US stock exchanges each weekday. Additionally, Thursdays see the highest share of trading during US hours, contributing…

Cathie Wood, CEO of Ark Invest, has announced her intention to vote for Donald Trump in the upcoming U.S. presidential election, citing economic reasons for her choice. Wood made this declaration at a recent Las Vegas conference, which featured prominent financial experts, including Kevin Paffrath, a well-known financial content creator During her address, Wood focused on voting strictly from an economic perspective. She referenced the economic performance of the United States during the initial three years of Trump’s presidency before the onset of the COVID-19 pandemic, which she called the best in U.S. economic history. Her comments align with those…

Dog-themed cryptocurrency Shiba Inu (SHIB) has seen an extraordinary surge in trading volumes, skyrocketing by 110% in the past 24 hours. This spike in activity comes amid a broader market sell-off that has resulted in $410 million in liquidations. According to CoinMarketCap data, Shiba Inu’s trading volume has more than doubled since the past day, marking a 110% increase to reach 34.1 trillion SHIB or $801 million. This surge in trading volume indicates a significant rise in buying and selling activities as traders react to the current market conditions. The dramatic increase in volume suggests heightened interest and engagement with…

Public Bitcoin miner Hut 8 disclosed its strategies for keeping up with other market participants during its first analyst day in nearly nine months. Following a merger of equals last November with U.S. Bitcoin Corp. (USBTC), Bitcoin miner Hut 8 is focusing on capital efficiency, cost control, and profitable growth. According to a report from H.C. Wainwright’s crypto analyst Mike Colonnese, the plan failed to justify a bullish stance on the stock. Hut 8 CEO and USBTC co-founder Ashen Genoot took the stage in Miami last week during its first Analyst Day since the merger. Genoot’s vision pointed to optimizing…

Matter Labs, the main development firm behind the layer-2 network ZKsync, has introduced a new roadmap called ZKsync 3.0, aimed at making the ecosystem more interconnected – including a new “Elastic Chain” that somewhat resembles rival Polygon’s AggLayer, released earlier this year. At the core of ZKsync “3.0” is the v24 upgrade, released June 7, turning “ZKsync from a single ZK chain into an Elastic Chain,” the Matter Labs team wrote in a blog post shared with CoinDesk. This Elastic Chain is composed of multiple chains in the ZKsync ecosystem, but users will feel like they are using a single…

A trader known for several accurate crypto market calls says that Bitcoin (BTC) may be gearing up for a massive breakout. Pseudonymous analyst Dave the Wave tells his 146,500 followers on the social media platform X that Bitcoin may be following a bullish pattern of trading in a range before putting up an approximate 50% gain. “The BTC megaphone.” Source: Dave the Wave/X Looking at his daily chart, the trader suggests that Bitcoin is printing a bullish megaphone pattern, with two higher high prices and two lower low prices, and could soar to around $109,500. The analyst also says that…

The crypto market has recently experienced a great development in the case of funds inflow. The data points out that the CBETH token has received 1st place in the list of crypto tokens with the maximum funds inflow. FLUX, BTC, OCEAN, SKL, and WOO tokens are following CBETH with substantial inflows. OK, let’s see where the so called smart money is going.Interesting:1. Significant amount going through staked $ETH through Coinbase.2. Great to see $FLUX here. One of best #DePin players out there and significantly undervalued.$btc $ocean $skl $storj $pepe $woo pic.twitter.com/SReUpDSyjt — Crypto Academic (@cryptoacademic) June 23, 2024 CBETH Rules…

An Ethereum layer-2 network named Taiko is dominating the market for so-called blobs, or dedicated data storage for Ethereum scalers—but those endeavors are resulting in tens of thousands of dollars worth of costs for the little-known scaling solution each and every day, even topping the $100,000 mark multiple times this week. The Taiko protocol, which went live in late May, seeks to offer users cheaper and faster transactions than on Ethereum’s mainnet, while borrowing elements of the network’s security. Since going live, Taiko has spent a whopping $900,000 on blobs in less than two weeks to funnel users’ transactions over…