Author: NBTC

Derivatives traders have taken a bullish stance on Bitcoin, as open interest in the leading cryptocurrency hit an all-time high of $38.76 billion, according to derivatives analytics platform Coinglass. This change in Bitcoin’s open interest represents a 6.7% increase from its previous all-time high, which stood at 36.31 billion in March earlier this year. Meanwhile, Bitcoin spot ETFs witnessed their second-highest net inflows for the year earlier this week. Notably, the cumulative net inflow in Bitcoin spot ETFs crossed the $15 billion mark and currently stands at $15.56 billion at the time of writing, according to data analytics platform Sosovalue.…

After the halving in Bitcoin was over, unusual transaction volumes were detected in several altcoins on Upbit, South Korea’s largest cryptocurrency exchange. The altcoins in question include Cardano (ADA), Loom Network (LOOM), 1inch (1INCH), Ankr (ANKR) and NEM (XEM). The 4-hour chart for Cardano (ADA) showed a significant increase in trading volume on Upbit. The average 50 4-hour volume was $7 million, but the last recorded volume was around $14 million, indicating an increase of 96.96%. In Binance, the volume decreased by 8.50%, from an average of $46 million to $42 million. Loom Network (LOOM) also saw a significant increase…

Hong Kong has issued a warning about an unregulated crypto exchange named “Kucoin,” which reportedly demands payments to recover money from frozen accounts. The Hong Kong Monetary Authority (HKMA) has alerted the public to an allegedly fraudulent activity conducted via a crypto exchange falsely claiming to be regulated by the HKMA. In a public warning published on the Government of the Hong Kong Special Administrative Region’s official website on Friday, the HKMA identified the digital currency platform “Kucoin” as falsely asserting it is licensed by the HKMA and issuing documents purportedly from the HKMA, “demanding payment of fees in order…

Pyth Price Feeds launch on Aurora Cloud, enhancing real-time data access to dApp developers. Aurora Virtual Chains developers can now get permissionless access to 500+ real-time price feeds on Aurora. The integration reduces costs and boosts efficiency for Aurora Virtual Chains. Pyth Network has announced the launch of its price feeds on Aurora Cloud after a collaboration with the Aurora Labs team. This will make Pyth Price Feeds permissionlessly accessible to all upcoming Aurora Virtual Chains, marking a major milestone in the integration of real-time data with decentralized applications. Aurora, an Ethereum Virtual Machine created by the NEAR Protocol team,…

Hyperbitcoinization is the belief that eventually all goods and services will be priced in bitcoin instead of dollars. If you identify as a Bitcoin maximalist, you might have already accepted this as a given. But what does this process actually look like over time? What are key milestones that we can point to that would indicate hyperbitcoinization is taking place? In this post, I explore current Bitcoin financial products, geopolitical reasons governments will adopt bitcoin, why central banks will adopt bitcoin and more. Merging Bitcoin with Traditional Finance As adoption continues, more companies will offer Bitcoin financial products and further…

Cryptocurrency investment products saw $2 billion of inflows over the last month, with this past week seeing a total of $185 million being invested in these products to help year-to-date inflows surpass the $15 billion mark. That’s according to CoinShares’ Digital Asset Fund Flows report, which details that investment products offering exposure to the flagship cryptocurrency Bitcoin (BTC) saw inflows of $148 million over the past week, while those shorting the cryptocurrency saw $3.5 million of outflows. Products betting on the second-largest cryptocurrency, Ethereum’s ETH, saw $33.5 million inflows in the week, after the U.S. Securities and Exchange Commission (SEC)…

In the last 24 hours, the movement of SHIB tokens, totaling a monumental 4.34 trillion SHIB, represents a significant uptick in large transactions within the Shiba Inu ecosystem, prompting speculation and anticipation. Recent data from IntoTheBlock shows an increase in whale activity, with inflows up 215%. On April 19, SHIB saw large holders inflow amounting to 4.34 trillion SHIB, a significant rise from 565.55 billion SHIB on April 17. Large Holders Inflow tracks the funds going into addresses belonging to whales. Shiba Inu is also seeing an uptick in the volume of large transactions (those worth more than $100,000), which…

Bakkt is considering strategic options, including a potential sale or breakup, according to an initial report from Bloomberg citing persons familiar with the matter. The move comes amid a surge in takeover activity within the cryptocurrency sector. The sources, who asked to remain anonymous due to the confidential nature of the matter, revealed that Bakkt has been working with a financial advisor to evaluate its options. However, no final decision has been made, and the company may choose to remain independent. Bakkt was launched in 2018 by Intercontinental Exchange, which owns several major futures markets and the NYSE. The venture’s…

Traditionally considered an odd couple, Bitcoin has made intriguing forays into the crypto ecosystem over the past year. Cake Wallet’s decision to integrate Lightning is an unexpected yet exciting development that continues this trend of Bitcoin integration. In doing so, Cake aims to make Bitcoin more practical for everyday use for its users. In a post published yesterday, Breez CEO Roy Sheinfield emphasizes the “massive opportunity” this creates:“Introducing Lightning to the broader world of crypto will help more users interface with Bitcoin, and Lightning is the tech that can put the currency into “cryptocurrency.” Bringing crypto and Lightning together is…

The digital yuan app, which services users of the Chinese CBDC, has dropped the ‘pilot’ label from its name without any announcement, prompting speculation about an upcoming move to production stages. While local Chinese news outlets explained that this change had to do with app requirements, some expect this might be a step before its generalized implementation. Chinese Digital Yuan Drop Pilot Description From App, Prompts Speculation About General Availability China might be preparing to launch its central bank digital currency (CBDC) at a national level. According to Chinese news outlets’ reports, China’s digital yuan app, which services users of…