Author: NBTC

The leading crypto exchange, Binance, has burned 1,149,430,203 LUNC tokens off the excessive supply of Terra Classic. According to data from the community-based tracking service Luncmetrics, Binance burned the tokens in a single transaction on Thursday, August 1. In this transaction, 1.149 billion tokens were transferred from wallet “terra18…24sqe” to a dead address. However, this significant burn failed to impact LUNC’s market value, as the asset currently trades in the red. Binance LUNC Burn in 2024 Prior to this latest burn, Binance had incinerated 132,316 tokens two weeks earlier. Notably, the 1.149 billion LUNC token burn on August 1 represents…

Bitcoin’s secondary layers are often overlooked despite their undoubted potential to enhance Bitcoin’s potential for even more advanced functionality. Much of the focus is directed at the Lightning Network and its ability to handle microtransactions at high speeds. However, the secondary layers (or layer 2) can effectively handle smart contracts, leverage cryptographic techniques for advanced privacy, and establish decentralized identity and access solutions that are connected to the blockchain. This article will explore these fascinating layers and their potential use cases, considering how they may define the future of Bitcoin beyond currency transactions. Bitcoin’s secondary layers are expected to provide…

Tether has released its Q2 2024 attestation, conducted by BDO, revealing a record-breaking $5.2 billion profit for the first half of 2024. The report showcases Tether’s net operating profit of $1.3 billion in Q2 alone. The attestation highlights Tether’s $97.6 billion ownership of US Treasuries, positioning the company 18th in the rankings of countries owning US debt and 3rd in purchases of 3-month US Treasuries. Notably, Tether’s consolidated net equity reached $11.9 billion as of June 30, 2024, with the Group Equity increasing by $520 million in Q2. This growth occurred despite a $653 million unrealized loss due to Bitcoin…

The cryptocurrency industry has experienced heightened volatility in the last few weeks, fueled by increased speculation and significant whales’ on-chain activity. The altcoin industry has attracted significant attention amid the upcoming listing of spot Ethereum ETFs in the United States next week. Toncoin Price Dilemma The Telegram-based Toncoin (TON) project remains largely uncorrelated with the rest of the crypto industry. Since March, the Toncoin price has been making weekly higher highs and higher lows, a characteristic of a rising trend. However, the rising trend on the TON price could be approaching the end as the weekly Relative Strength Index (RSI)…

BingX has officially integrated its perpetual contract market with TradingView, the renowned social network and analytical platform for traders. This development marks a pivotal enhancement, previously limited to standard futures, and now including both Coin-margined and USD-margined perpetual futures. TradingView, acclaimed for its robust set of analytical tools and real-time market insights, now hosts BingX’s perpetual futures directly on its platform. This integration empowers BingX users to utilize advanced charting capabilities without the hassle of managing multiple platforms, thereby streamlining the trading process. A Seamless Interface for Traders Vivien Lin, the Chief Product Officer at BingX, expressed enthusiasm about this…

In July, bitcoin miners earned $951.11 million, marking the lowest monthly revenue of the year. Out of this total, $24.9 million was generated from transaction fees, reflecting a trend of low onchain fees. July Bitcoin Mining Revenue Plummets to a 2024 Low The month was particularly challenging for bitcoin miners, as earnings hit their lowest point in 2024. Additionally, the value of Bitcoin’s hashprice, or the estimated worth of 1 petahash per second (PH/s) of hashpower, decreased as July progressed. At the start of the month, the value of 1 PH/s was approximately $48, but by July 31, it had…

The smart giant whale, which earned more than 1 billion dollars by selling its Bitcoins during the rise in 2023 and 2024, returned to the markets again. The whale, who bought 6,070 Bitcoins worth $395 million during the last market decline after 1.5 years, deposited 1,200 BTC worth $73.44 million to Binance a few hours ago. According to Arkham data, this whale with the address “3G98jS…NvHkhN” transferred 1,200 BTC to Binance. The smart whale bought these BTCs and more from OKX and Binance a week ago. This whale also holds 10,149 BTC worth approximately $622.46 million. “This smart whale deposited…

GMX decentralized exchange has listed two revenue-generating assets on the Arbitrum network. The two – Lido’s wrapped staked Ether (wstETH) and Ethena Labs’ synthetic dollar (USDe)- will support an ETH/USD perpetual futures marketplace on GMX version 2. GMX announces a new market on @Arbitrum:🔹 ETH/USD [wstETH/USDe]Trade #Ethereum perpetual futures, supported by a liquidity pool with wrapped staked ETH (wstETH) from @LidoFinance and the USDe synthetic dollar from @Ethena_labs!1/3 🧵 pic.twitter.com/pmmXsSrNTl — GMX 🫐 (@GMX_IO) July 31, 2024 The new listing reflects GMX’s dedication to providing top-notch earning opportunities without compromising liquidity. The wstETH asset is a liquid, wrapped version of…

On 31 July 2024, CCData Research unveiled the July 2024 edition of its “Stablecoins & CBDCs” report, providing a comprehensive overview of recent trends and market dynamics within the stablecoins and central bank digital currencies (CBDCs) sectors. CCData, authorized by the Financial Conduct Authority (FCA) as a benchmark administrator, is a prominent provider of institutional-grade digital asset data. By leveraging tick data from globally recognized exchanges and integrating multiple datasets, CCData delivers a comprehensive market overview, including trade, derivatives, order books, as well as historical, social, and blockchain data. Stablecoins Market Capitalisation Hits $164 Billion In July, the total market…

Pump.fun is the most accessible tool for token creation, with a known risk due to its low liquidity. For tokens that go viral, Pump.fun now has a new type of rug pull attack. Pump.fun is one of the fastest ways to generate and distribute Solana-based meme tokens. The protocol advertises itself as a coin launcher tool, making new assets instantly tradeable with no initial liquidity. The fees for generating a new token are as low as $2, making Pump.fun a highly active protocol. The recent interest in meme assets drove Pump.fun fees as high as $268M annually. On certain days,…