Author: NBTC

A once-vaunted scaling innovation for Bitcoin may be much more limited in practice than its early proponents once claimed, according to developers. Since its introduction in October, BitVM—described as a “computing paradigm” to express smart contracts on Bitcoin—has been pitched as a potential way to bridge BTC to other blockchains in a truly decentralized manner. If so, it could unlock a world of applications for BTC holders that are currently exclusive to other chains, including privacy, scalability, and dApps. However, such bridges will introduce a key limitation that critics claim the technology’s supporters have been elusive about. “BitVM bridges are…

The US banking system is in a tough spot again with half a trillion of unrealized losses. $517 billion of unrealized losses have been recorded due to high mortgage rates. This has pushed 63 lenders to the brink of insolvency, Bitcoin pump ahead. The US banking system is one again under hot water as $517 billion is recognized as unrealized losses. The FDIC says 63 lenders are on the brink of insolvency. Will these US banks have to be bailed out again or will Bitcoin and cryptocurrency bring a solution? According to the Quarterly Banking Profile report, the US banking…

While Bitcoin and Ethereum remain flat for the day, two tokens linked to decentralized physical infrastructure networks (DePIN) have been booming. The tokens for Akash Network and Zebec Network have posted monster gains, with AKT rising by 52.4% and ZBC by 38.5% in the past day. At the time of writing, AKT is trading for $6.29 and ZBC is trading for $0.03473, according to CoinGecko data. That’s while the Bitcoin price has kept its footing above $66,000 and the Ethereum price has lost some ground to trade just below $3,200. DePIN has been an especially buzzy category in crypto lately.…

In the last 24 hours, Bitcoin has engineered a notable comeback, reclaiming the $70K threshold after its recent bearish performance. Notably, BTC crashed to a low of $64,559 on April 3 but has rallied by over 10% to re-enter the $70K territory within the last 24 hours. However, Bitcoin momentarily failed to defend this recently reclaimed $70K threshold amid a retracement to within the $68K territory shortly after. Meanwhile, short traders swiftly leveraged the uptick to open positions, betting against BTC’s performance. Prominent market watcher, Ali Martinez, has called attention to this trend in a recent update on X. Martinez’s…

The U.S. Faster Payments Council (FPC) has recognized Ripple among companies like Visa and Mastercard set to compete for dominance in currency conversion for digital assets. This acknowledgment was part of the most recent insights from the FPC Work Groups investigating ways to enhance the speed of real-time payments, with a particular focus on reducing the 2-3 day settlement time to instant. The FPC #DigitalAssets Work Group has just published its next blog on “Where Worlds Collide: #CurrencyConversion for #CrossBorder and Digital Assets.” Read the post here: https://t.co/43bLGKUhiX pic.twitter.com/gh7Umy8tlE — Faster Payments Council (@Faster_Payments) June 3, 2024 Currently, efforts to…

Polygon (MATIC): Pioneer in scalability with Polygon SDK for diverse applications. Mantle (MNT): Modular architecture, integrating EIP-1559 for improved transactions. Immutable (IMX): NFT scalability leader, overcoming Ethereum’s limitations with strategic partnerships. In the ever-evolving landscape of blockchain technology, Ethereum stands out as a beacon of innovation. As the platform grows in popularity, so does the demand for solutions to its scalability issues. Enter Layer 2 projects, the ingenious answer to Ethereum’s challenges. Here, we unveil the top 5 Ethereum Layer 2 projects of 2024, each offering a unique approach to scalability and efficiency. 1. Polygon (MATIC) Leading the pack is…

Analysts from H.C. Wainright believe Bitfarm’s growth strategy is promising, and the stock could have a 75% upside. In a recent market report, the analysts expressed optimism about Bitfarms‘ potential to expand its market share and lower production costs in 2024. They cited Bitfarm’s actions to embark on a fleet upgrade and growth strategy and anticipate a reduction in electricity costs. Bitfarms is a worldwide, fully integrated Bitcoin mining company with 12 mining facilities worldwide. Despite potential short-term volatility due to macro and geopolitical concerns, the H.C. Wainright analysts are bullish on Bitcoin’s price in the medium and long term.…

A pattern in the holdings of the Bitcoin long-term holders may suggest that the current bull run is 40% of the way to completion. Bitcoin Long-Term Holders Have Been Distributing Recently In a new post on X, Glassnode lead analyst Checkmate discussed the recent behavior of the long-term Bitcoin holders. The “long-term holders” (LTHs) here refer to the BTC investors who have been holding onto their coins for over six months. Statistically, the longer an investor holds onto their coins, the less likely they become to sell them at any point. Since the LTHs hold for significant periods, they are…

Watford, who play in the second tier of the English league system, is aiming to raise around 17.5 million pounds ($22.3 million), setting a price per share of around 12 pounds. Investors will have the option to receive tokens to access exclusive offers in addition to their digital equity. English soccer team Watford FC is offering 10% equity in the club to investors and fans through Seedrs, the European arm of investment platform Republic. Watford, who play in the second tier of the English league system, is aiming to raise around 17.5 million pounds ($22.3 million), setting a price per…

Shiba Inu lead Shytoshi Kusama recently declared that this is a big day for the project, calling attention to the pivotal $12 million funding round for TREAT. As previously reported by The Crypto Basic, the Shiba Inu ecosystem team recently secured a significant funding round of $12 million, led by prominent Web3 venture capital firm Animoca Brands and others. Kusama revealed that the funding was secured through Shiba Inu Mint S.A., a corporation based in Panama by selling its utility token named TREAT. Amid reports of the development, Kusama noted in a recent post that the significant push makes this…