Author: NBTC

There is a growing evolution in digital currencies, with protocols linked to the Ethereum ecosystem recording a significant surge in total user count. Taking to X, Polygon cofounder Mihailo Bjelic shared an update that shows the layer-2 scaling solution has now topped Ethereum in total Monthly Active User (MAU) count. Ethereum versus layer-2 networks While Ethereum is the foundational network for layer-2 scaling solutions, it is fast losing some of its growth traction to these secondary protocols. Per data shared by Bjelic, the Polygon MAU jumped to more than eight million, while that of Ethereum stayed below the eight million…

As the 2024 U.S. election cycle unfolds, the cryptocurrency industry’s political influence is rapidly expanding, poised to shape legislative agendas and potentially sway electoral outcomes. With the sector investing heavily in political campaigns and advocacy groups, candidates are increasingly aligning themselves with pro-crypto platforms to court a growing voter base of crypto holders. According to Brad Garlinghouse, CEO of Ripple, candidates’ stances on crypto could significantly influence voter decisions, making advocacy for clear regulations crucial for this industry. You’ll hear this a lot more in the next few months in the US – candidates will only gain votes for being…

Disclosure: The views and opinions expressed here belong solely to the author and do not represent the views and opinions of crypto.news’ editorial. These days, the internet has become our second home. It’s where we communicate, work, shop, and socialize. But lurking beneath the surface lies an unsettling truth: we are being watched. Online surveillance has grown into an unprecedented force, infringing on our privacy and encroaching into every aspect of our lives. I believe blockchain technology holds the key to reclaiming our digital freedom. You might also like: What’s better than owning your assets? Owning your data | Opinion…

As of May 27, 2024, bitcoin is trading at $68,457 with a market capitalization of $1.34 trillion. The leading crypto asset has experienced an intraday price range of $68,308 to $69,340 with a 24-hour trade volume of $10.74 billion. Bitcoin The short-term analysis based on BTC’s 1-hour chart reveals a slight downward trend following a failed attempt to maintain the $69,500 level. The support level is established at $68,136, with resistance at $69,500. Recent price action shows consolidation around the $68,500 to $69,000 range, indicating a potential stabilizing phase. Notably, volume spikes during price drops highlight strong selling pressure, while…

Ethereum (ETH) has been conquering traditional finance attention, especially among relevant institutional players. Now, Standard Chartered, a banking giant with over $822 billion in assets under management (AUM), has also made its move. According to a Bloomberg report, Standard Chartered plans to offer Ether and Bitcoin (BTC) in a new crypto trading desk. If accomplished, the move will make StanChart the first major global bank to offer this service. “We have been working closely with our regulators to support demand from our institutional clients to trade bitcoin and Ethereum, in line with our strategy to support clients across the wider…

Tokenization adoption will happen in waves led by assets such as mutual funds, bonds, loans, McKinsey said in a report. Many institutions are still in “wait and see” mode while early movers can capture “oversized market share,” the report added. The market of tokenized assets might be just $4 trillion even in an optimistic scenario by 2030 as financial institutions embrace blockchain technology for traditional financial instruments at a slower pace and limited range of assets than more optimistic reports predicted, global consulting firm McKinsey & Company said in a Thursday report. “Broad adoption of tokenization is still far away,”…

The cryptocurrency market experiences notable price fluctuations, with most assets failing to maintain upward momentum. Bitcoin (BTC) displays weakness after losing nearly 4% over the past day to hover at $66.79K during this writing. While such an outlook painted the altcoin sector red, Gnosis (GNO) defied the bearish odds with a notable uptick. GNO’s price jumped nearly 10% over the past day to $354, confirming stability amid market volatility. GNO 1D Chart on Coinmarketcap What triggered the Gnosis price surge? The altcoin has maintained an upside stance lately, gaining around 25% within the past month. Meanwhile, news about the community…

Italy is beefing up surveillance over risks tied to the crypto asset market. The draft decree reviewed by Reuters said fines as high as 5 million euros ($5.4 million) could be imposed. Italy is set to adopt measures that will include high fines for those who manipulate the crypto asset market as part of a wider scheme to beef up surveillance of risks tied to the sector, Reuters reported, citing a draft decree it reviewed. The document is due to be approved by the cabinet later today and will include fines between 5,000 euros ($5,400) and 5 million euros for…

The Maritime Industry Authority (MARINA), the Philippines‘ shipping and seafaring regulator, is preparing to launch an innovative online system aimed at improving services for Filipino seafarers and other maritime industry stakeholders. This new initiative promises to significantly upgrade the efficiency and reliability of maritime service delivery. Blockchain-enabled certification system On June 14, the Department of Transportation (DOTr) Undersecretary for Maritime Affairs, Elmer Sarmiento, announced the introduction of MARINA’s Blockchain-Enabled System for Transactions (BEST). This cutting-edge system is designed to facilitate real-time processing and updating of applications online. “It (BEST) will allow MARINA clients to pay online, track and update their…

While the developments in the Spot Ethereum ETF approval process last week caused a large increase in the price of ETH, the leading cryptocurrency Bitcoin recorded a more limited increase compared to ETH. While investors are waiting for a big break in the BTC price, CryptoQuant analyst pointed out that whale movements have an impact on the BTC price and said that whale activities and transactions have increased recently. Stating that increasing whale transactions also put constant pressure on the price, the analyst said that the BTC price has not experienced a major increase recently due to this pressure. At…