Author: NBTC

Crypto custodian service Fidelity Digital Assets recorded nearly a 60% drop in revenue per 2023, with losses soaring to more than £7 million. Fidelity’s crypto custody business Fidelity Digital Assets launched in 2018 in a bid to expand its crypto services, generated revenue of £545,000 (~$695,000) over the past year, marking a 59% decline from £1.34 million for 2022, the Financial News reports, citing documents filed by Fidelity with Companies House. In addition to decreased revenue, operating expenses also soared by 32% on a year-on-year basis to £7.8 million in 2023, driven largely by increased staff salaries, the report notes.…

This week was supposed to be the moment that fungible tokens on Bitcoin rocketed to prominence. Although some fungible tokens like the billion-dollar ORDI have gained modest popularity using standards like BRC-20 and STAMPS’ SRC-20, a brand new protocol was supposed to supersede these expensive, slow, and target=”_blank” rel=”noreferrer noopener”>minted new Runes, paying all-time high Bitcoin transaction fees. Runes promised to be a more professional, less expensive, faster, and more seamless protocol for launching altcoins on Bitcoin. Rodarmor coded Runes because, in his words, “Fungible tokens are 99.9% scams and memes. However, they don’t appear to be going away any…

The web3 gaming landscape is set to transform with the latest collaboration between Immutable and Revolve Games. Immutable, a prominent platform for creating blockchain-based games, has joined forces with Revolve Games to launch a new strategy card game, “Bones and Blade,” on its zkEVM, powered by Polygon. This partnership marks a significant milestone in the evolution of gaming ecosystems on Ethereum. Revolve Games, known for its expertise and experience in developing major titles such as Overwatch, Diablo, and Gears of War, brings a wealth of knowledge to this venture. “Bones and Blade” is currently accessible in Open Beta, and the…

Trust Wallet and Mercuryo have partnered to power crypto off-ramps for more than 30 digital assets. While cryptocurrencies allow participants to store value in virtual assets built atop decentralized networks, many real-world payments still require fiat vehicles for settlement in many countries and jurisdictions. Giant self-custody provider Trust Wallet and payments infrastructure firm Mercuryo have teamed up to enable users to turn their digital coins into real-world money, a process dubbed “off-ramping.” Commenting on the collaboration, Mercuryo co-founder and CEO Petr Kozyakov said, “having access to a seamless off-ramp service” is just as important as securely storing digital assets. You…

Bitcoin (BTC) has shown an impressive performance in the first quarter (Q1) of 2024, as highlighted in a recent report by market intelligence data research firm Messari. The research firm finds key factors contributing to Bitcoin’s price increase, market cap dominance, and the emergence of new trends in the cryptocurrency ecosystem. Inscription Activities Drive Bitcoin Fees Up Analyzing the key figures detailed in the report, Bitcoin’s price experienced a significant increase in Q1 2024, rising 68.78% quarter-over-quarter (QoQ) to reach an all-time high (ATH) of $73,100. This price increase propelled Bitcoin’s market cap dominance to 49.7% in March 2024. Interestingly,…

Amid growing popularity and adoption of digital assets in the traditional financial space, the value of tokenized treasury bonds has soared to $1.44 billion. Moving from the year-to-date lows of $719 million, this marks a 100.27% increase in 2024. The largest asset management in the world BlackRock is making headlines again, but not for a Bitcoin ETF. Its tokenized fund has become the largest tokenized treasury product just three months after its launch. BlackRock’s BUIDL Skyrockets Three Months After Debut Real-world assets (RWAs) have gained traction within the digital asset space since late 2023. Analytics platform Santiment reported a surge…

Decentralized exchange for perpetuals trading (perp DEX) JOJO implemented zero-knowledge proof (zk-proofs) technology for funding rates in their platform to keep perpetual contracts aligned with the spot market prices. According to Jotaro Kujo, JOJO’s co-founder, this is a fundamental development for on-chain derivatives trading. JOJO tapped into Brevis zk-proofs technology, which is a coprocessor able to read from and utilize the full historical on-chain data from any chain, and run customizable computations in a completely trust-free way. “With Brevis’ zk-proofs, we have the ability to do any calculation based on the transactions, the events, on any block time in any…

Bitcoin price is moving higher above the $71,200 resistance. BTC is showing positive signs and might soon extend gains above $72,500. Bitcoin climbed higher above $69,500 and $70,000 resistance levels. The price is trading above $70,000 and the 100 hourly Simple moving average. There is a key bullish trend line forming with support near $70,750 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could accelerate higher if it clears the $72,500 resistance zone. Bitcoin Price Regains Momentum Bitcoin price started a decent increase above the $68,500 resistance zone. BTC cleared the $69,500 and $70,000…

A curated batch of Bored Ape Yacht Club-centric Ethereum NFTs from Yuga Labs is set to be auctioned off at Sotheby’s on June 18, providing a white-gloved test of the staying power of Ape-themed assets in the fine art community. The lot of collectibles includes an NFT profile picture (PFP) from the Bored Ape Yacht Club, adorned in a leather work vest and “sushi chef headband.” Known as Ape #8552, one of the NFT’s main selling points is its former, now-bankrupt owner—aside from the Ape’s solid-gold fur, of course. Once an asset held by Three Arrows Capital (3AC), a crypto…

Rwanda is contemplating launching a Central Bank Digital Currency (CBDC) because it does not want to be left behind and to prevent any hindrances to trade between the African country and its major trading partners. According to a deputy governor with the National Bank of Rwanda, the country should be prepared for digital currencies being developed by its respective trading partners. The Cost of Not Developing a CBDC Rwanda is actively working on launching its central bank digital currency (CBDC), partly to align with its major trading partners who are also exploring digital currencies. According to Soraya Hakuziyaremenye, the Deputy…