Author: NBTC

Slumps in Bitcoin prices and the total cryptocurrency market cap coincided with reduced trading activity on centralized exchanges like Binance. Data from the WuBlockchain team revealed that crypto spot volumes on centralized exchanges (CEXs) dropped 17% month-on-month (MoM) in June. Bitcoin (BTC) declined around 5% in the last 30 days, while the total crypto market dropped hundreds of billions within the same period. As capital exited the digital asset market and investor sentiment turned bearish, several CEXs, including Upbit, Bitfinex, and KuCoin, recorded significant reductions in trading volumes, with declines of 45%, 38%, and 32%, respectively. Binance saw a 22%…

While the decline in Bitcoin and altcoins negatively affected the entire market, Binance CEO Richard Teng also made a downward comment. Emphasizing that investors’ interest in Bitcoin continues despite the declines, Binance CEO pointed to spot Bitcoin ETFs as evidence of this interest. Stating that there has been an inflow of 14.7 billion dollars into BTC ETFs in the last six months, Binance CEO said that these inflows are an indicator of investors’ confidence in BTC and digital assets in general. Pointing out that although Bitcoin and altcoin prices have fallen recently, the long-term fundamentals of the cryptocurrency industry are…

Diameter’s CEO David Lighton has questioned Ripple’s labeling of a recent article, noting a discrepancy between the title and the actual content. According to Lighton, the caption “Institutional DeFi” does not align with the narrative, as many of the projects Ripple cited are for retail use. 3. It’s interesting the article is labeled as “Institutional Defi”, when many projects cited are for retail. “Institutional” really means “regulatorily compliant” so everyone can use it. The oft-cited narrative of “it’s for institutions only” in XRP circles really doesn’t apply. — WrathofKahneman (@WKahneman) May 29, 2024 Meanwhile, the Diameter CEO praised Ripple’s insight,…

Brad Garlinghouse led Ripple to a significant legal victory against the SEC, solidifying XRP’s status. Garlinghouse advocates for clear regulatory frameworks to foster innovation and trust in the cryptocurrency industry. The dynamic CEO of Ripple, Brad Garlinghouse, has grown to be a powerful player in the crypto scene for his relentless commitment to XRP adoption and strategic leadership that have helped Ripple negotiate both turbulent and calm waters. His path is a gripping story of resiliency, foresight, and a relentless dedication to invention. The Beginning: Joining Ripple and Shaping a Vision Brad Garlinghouse started his adventure with Ripple in 2015,…

Alchemy Pay, renowned for bridging the gap between fiat and cryptocurrencies, has recently unveiled significant enhancements to its payment processing services. This strategic update is designed to streamline the transaction experience for both merchants and consumers by facilitating easier and more efficient crypto transactions. As part of this upgrade, Alchemy Pay has introduced capabilities allowing users to directly link their cryptocurrency exchange and brokerage accounts—such as Coinbase, Kraken, and Robinhood—to their payment interface. This integration supports seamless transfers, enabling users to utilize their crypto holdings for everyday transactions with minimal effort. 🚀#AlchemyPay now supports users connecting their exchange and brokerage…

Cryptocurrencies rebounded on Tuesday with bitcoin (BTC) climbing nearly 3% to around $58,000 as fears after last week’s breakdown allayed. The recovery was broad-based, with the market benchmark CoinDesk 20 Index up 2.4% over the past 24 hours, led by gains by solana (SOL), filecoin (FIL) and native tokens of Avalanche (AVAX) and Internet Computer Protocol (ICP). The grind higher could last a while with BTC potentially reaching $60,000, but the rally will be short-lived, said Markus Thielen, founder of 10x Research. “The $55,000-$56,000 range is forming a base from a technical analysis perspective. However, given the medium-term technical damage,…

A prominent business magazine in the US has disclosed that Gen Zers are getting disillusioned with the present economic status. As per Fortune, Gen Zers have even asserted that they consider it acceptable to conduct crypto fraud amid the current position of the economy. This statement reportedly indicates a wider economic frustration as well as a deficiency of valuable financial opportunities for this generation. Gen Zers are so disillusioned with the economy that they think it’s OK to commit fraud, per Fortune.In Q4 2023, 42% of Gen Zers admitted a willingness to engage in first-party fraud, per Fortune. — unusual_whales…

The time required to bridge tokens from the Shiba Inu blockchain Shibarium to Ethereum now takes 45 minutes instead of the previous seven days. The Shiba Inu development team disclosed this pivotal change in a recent update on X. Delightedly, the team announced that the SHIB Army can now experience faster and smoother interaction with Shibarium. According to the notification, the initial seven-day waiting period was to promote price stability by incentivizing users to remain on the layer-2 longer. However, this is no longer the case. Emphatically, the process of moving assets from Shibarium to Ethereum, which typically took a…

Key Points: The South Korean government is considering delaying the cryptocurrency capital gains tax from January 2025 to January 2028, with a final decision expected later this month. The South Korean crypto tax, originally set for October 2021, has already been postponed twice due to concerns about investor burdens and market confusion. Critics argue that further delays are impractical given the long preparation period, while others fear that political considerations could lead to indefinite postponements. According to Hankyung News, the South Korean government and ruling party are considering delaying the implementation of cryptocurrency capital gains tax from January 2025 to…

The State Duma’s Committee on Financial Markets recommended the lower House of the Russian Parliament approve the bill on regulating Bitcoin and altcoin mining activities, according to a recent report from Russia’s news agency TASS. The State Duma is scheduled to consider the bill during its session on July 23. Proposed by Russian Deputy Anatoly Aksakov, the bill seeks to create a structured legal environment for crypto mining, which currently exists in a legal grey area in Russia. It is set to provide a clear framework for legal entities and individuals engaging in mining. The bill stipulates that the Russian…