Author: NBTC

Bitcoin miners are increasingly facing off against a new foe to contend with ahead of this week’s halving: the AI boom. Analysts at investment firm AllianceBernstein, Gautam Chhugani and Mahika Sapra, said that miners are now competing with AI data centers in places like Texas. Bitcoin miners are largely centralized operations that mint new digital coins. To do so, a Monday report explains, they need to use a lot of computers and therefore energy. Meanwhile, the booming AI industry is also power-hungry. Both industries look to places like Texas, which has cheap energy and lots of land to build data…

Open interest for Ethereum futures contracts hit $15.5 billion on Tuesday following rumors that the Securities and Exchange Commission was closer to approving ETH exchange-traded funds this week. The sudden blast of optimism has fueled a rush of upward movement across markets, and CoinGlass data shows that open interest on all crypto exchanges was at a record of 4.13 million ETH—surging by 32% in 24 hours. Deribit CEO Luuk Strijers told Decrypt that the trading volume was “unprecedented.” “This surge [in futures trading] reflects the heightened market activity and interest as traders and investors position themselves to capitalize on the…

Animoca Brands says Bitcoin is ready for Web3. The blockchain gaming giant will collaborate with Darewise and OPAL Protocol to launch a new era for gaming, DeFi and Web3 on BTC. BLIF, a new token of the OPAL Protocol, will power the ecosystem. Animoca Brands, a leading blockchain gaming company with a huge presence across the market, has announced its entry into the Bitcoin ecosystem. The Hong Kong-based company’s huge announcement came via a post on X on Tuesday. Among other details, Animoca Brands said it “is coming to Bitcoin” and that the pioneer blockchain network is “ready for Web3.”…

The Blum project which erupted from the masterminds of the first persons of Binance Russia continues to surprise the crypto market with the pace of its development and attracting a huge audience. In just a few days, the number of users has grown incredibly and is now 5 million! No doubt, this is a significant milestone and Blum has already marked it with a separate post on its social media — it became known that already 5 million people are engaged in farming and inviting, and are also watching the development of the project with great interest. Let us remind…

RWA Inc., the pioneer platform using cutting-edge Web3 facilities to release fractional assets, has started a unique partnership. As per the company, it is joining forces with Hybrid, a prominent layer for on-chain intelligence that utilizes AI and Web3 experts. The platform took to its X account to disclose this development. 📢 Exciting Partnership News@RWA_inc_ and pioneering AI-focused L1 programmable blockchain, @BuildOnHybrid will work together to integrate AI services into the #tokenization market.RWA’s community gains access to @BuildOnHybrid AI tools and features which will help to… pic.twitter.com/LfiJFDtHfX — RWA Inc. (@RWA_Inc_) May 24, 2024 RWA Inc. and Hybrid Start a…

Closely followed trader and economist Alex Krüger believes Ethereum (ETH) is headed to new all-time highs (ATHs) due to one key catalyst. Krüger tells his 175,400 followers on the social media platform X that a possible approval of a spot ETH exchange-traded fund (ETF) as early as this week could send the top altcoin soaring. The odds for an ETH ETF approval by the U.S. Securities and Exchange Commission (SEC) suddenly increased this week, and ETH rallied by more than 20% in the past day. He also believes Bitcoin (BTC) will be “much higher” before the end of 2024. “My…

Monero’s XMR token has fallen to its lowest point against Bitcoin in the last eight years amid regulatory pressure on privacy-focused blockchain networks. According to CoinMarketCap data, the XMR-BTC chart reached as low as 0.001954 BTC today, down 50% on the year-to-date metric. Moreover, the digital asset’s US dollar value has also been struggling, falling by more than 20% in the past year to less than $120 as of press time. Nevertheless, Monero developers are intensifying efforts to enhance the network privacy features despite the regulatory challenges. FCMP A recent announcement on its website unveiled a novel privacy mechanism, “Full-Chain…

Teneo, the prominent crypto hedge fund Three Arrows Capital’s liquidator has recently made a significant development. As per SpotOnChain, a well-known on-chain analytics provider, Teneo reportedly deposited up to 2.18M $STRK tokens (equaling $2.63M) into Binance during the last 3 days. The analytics platform took to its official social media account on X to reveal this development. Earlier, Vitalik Buterin (Ethereum co-founder) also unlocked over $1M worth of $STRK tokens. Teneo, #3AC liquidator, deposited 2.18M $STRK ($2.63M) to #Binance in the past three days!Currently, @Teneo still holds 130M $STRK ($157M) of 3AC’s assets in custody, making it the second-largest non-team/CEX…

With the broader digital currency ecosystem tilting toward tokenization, Ripple CTO David Schwartz has hinted at some of the important benefits of this technological advancement. Benefits of tokenization The concept of tokenization has been flying around, however, only a few understand or know what it really means. Taking to the Ripple Labs’ new X series of explaining a blockchain concept in 60 seconds, the Ripple CTO used real estate to explain the tokenization concept. He said, with a lot of paperwork involved in buying an asset, it becomes fairly difficult to prove ownership of such properties. He believes tokenization eliminates…

Currently, traditional assets are continually debased due to overproduction and inflation. Bitcoin emerges as a beacon of stability with its immutable scarcity and superior monetary properties. As the next Bitcoin halving approaches, experts and market analysts spotlight BTC as the ultimate tool for long-term savings. Bitcoin: the Ultimate Savings Tool According to a new report, Bitcoin’s unique attributes position it ahead of traditional savings instruments. Joe Burnett, researcher at Unchained, explained that the upcoming Bitcoin halving, which will reduce the block reward from 6.25 BTC to 3.125 BTC, is set to cement Bitcoin’s role as a prime savings medium. Burnett…