Author: NBTC

Key Points: TON ecosystem’s Total Value Locked (TVL) surpasses $500 million. Toncoin’s value increases by 8.53% with a 40% rise in trading volume. TON network TVL crossed $500M, a major increase from $22.9M in March ’24, which is a 300% rise in the last 30 days, indicating growing trust and investment. The Total Value Locked of the TON ecosystem has crossed a new threshold and now stands at more than $500 million, having remarkably increased from the earlier value of $22.9 million registered by March 2024. Source: DeFiLlama This increase, therefore, constitutes something symbolically significant for the ecosystem of TON,…

In crypto, indicators like the ‘Supply in Profit’ provide valuable insights into market trends and investor sentiment. CryptoQuant’s latest analysis delves into this indicator, revealing patterns that might suggest we are on the brink of a bullish period for Bitcoin. Understanding the Supply in Profit Indicator The Supply in Profit indicator tracks the percentage of Bitcoin that is currently held at a profit—that is, the price at which the coins were bought is lower than the current market price. This metric becomes particularly significant when Bitcoin’s price exceeds past highs, pushing the indicator toward 100%. This scenario implies that the…

Today, approximately $8.12 billion worth of Bitcoin (BTC) and Ethereum (ETH) options are due to expire. Market watchers are particularly attentive to this event due to its potential to influence short-term trends through the volume of contracts and their notional value. Examining the put-to-call ratios and maximum pain points can provide insights into traders’ expectations and possible market directions. Insights on Today’s Expiring Bitcoin and Ethereum Options The notional value of today’s expiring BTC options is $4.65 billion. According to Deribit’s data, these 261,390 expiring Bitcoin options have a put-to-call ratio 0.6. This ratio suggests a prevalence of purchase options…

Massive XRP transfers to centralized exchanges by a prominent whale have sparked concerns among investors, despite the cryptocurrency’s recent price recovery. Over the past 24 hours, a whale has moved an enormous volume of XRP to centralized exchanges (CEXs). This move comes against the backdrop of XRP’s recent price recovery, which has led to increased scrutiny of whale behavior and its potential impact on market dynamics. 🚨 30,045,000 #XRP (14,533,925 USD) transferred from unknown wallet to #Bitstamphttps://t.co/JL4N3c3nzx — Whale Alert (@whale_alert) June 12, 2024 Based on on-chain data, one of the most active XRP whales moved about 52 million XRP…

Major crypto exchange Coinbase has announced the disabling of trading for Metal DAO (MTL) and Enjin Coin (ENJ) on its platform. This action implies that users may no longer be able to trade MTL and ENJ on the Coinbase platform. While trading for Metal DAO (MTL) and Enjin Coin (ENJ) is disabled on the Coinbase platform, user funds will remain accessible to them, and they will continue to have the ability to withdraw their funds at any time. Coinbase’s move to halt trading for Enjin coin follows a recent assessment in which the cryptocurrency exchange frequently reviews the assets on…

Rising bond yields pose a risk to bitcoin, crypto trader Chang told CoinDesk. The present level of bond yields could weigh on all assets, Goldman Sachs said. While bitcoin (BTC) continues to chop at elevated price levels just below record highs, suggesting a typical temporary bull-market pause, at least one observer is worried that recent macroeconomic developments could impede a move higher. “Bitcoin is still strong, but macro factors are threatening,” crypto options trader and market analyst Chang told CoinDesk in an interview. “Bond yields are very unstable as the demand is weak compared to U.S. Treasuries issuance. If there…

According to Juan Otero, CEO of the crypto-native travel booking platform Travala, many mainstream companies that attempted to use non-fungible tokens (NFTs) for customer or user loyalty programs may have seized the opportunity prematurely. Otero argued that at the time, Web3 companies had not “even figured out the best ways to use NFTs in loyalty programs.” NFT-Based Loyalty Program Failures Tarnished Tech’s Reputation While their adoption of the technology signaled a positive development for the blockchain industry, the apparent failure of such loyalty programs has tarnished the reputation of NFTs, the Travala CEO argued. However, in his written answers to…

VeChain reports a strong financial position with a total value of $550,972,484.57. The approval of the BTC ETF has significantly boosted the blockchain market. According to the latest update on VeChain Official, the VeChain Treasury Report for Q1 2024 reveals a robust financial standing with a total value of $550,972,484.57. This positive outlook is buoyed by the recent approval of the BTC ETF, signaling growing institutional interest in blockchain technology. This new report builds on the previous updates shared by CNF, highlighting VeChain’s substantial financial growth and stability in Q3 and Q4 of the previous year. Treasury holdings increased significantly…

OkayCoin, a cryptocurrency exchange, has officially launched in South Korea. According to a June 15 press release, the move aims to cater to the growing demand for crypto staking services across the region. The team also claims the move is in response to the increasing adoption of blockchain-based digital assets and investors’ desire for passive income. The global interest in crypto is on the rise. For the uninitiated, staking allows investors to earn rewards by participating in the network operations of certain cryptocurrencies, providing a source of passive income. This trend has seen a surge in demand for efficient staking…

Ethiopia, Africa’s second-largest country, is witnessing a Bitcoin (BTC) mining boom fueled by power agreements with Chinese firms. Colin Wu, a prominent Chinese cryptocurrency journalist, reported that Ethiopia, with a population of 115 million, now has more than 1.8 million cryptocurrency users. The Ethiopian Energy Authority has entered into power agreements with 21 Bitcoin mining companies, 19 of which are from China. Local mobile money platforms have already enabled users to buy and sell cryptocurrencies and stablecoins through Binance and Paxful. The Evolution of Ethiopia’s Stance on Crypto In June 2022, Ethiopia’s central bank, the National Bank of Ethiopia (NBE),…