Author: NBTC

The US Securities and Exchange Commission (SEC) may greenlight spot Ethereum exchange-traded funds (ETFs) that do not include the staking feature, suggests Alex Thorn, Head of Research at Galaxy Digital. He believes the SEC would distinguish Ethereum (ETH) and staked ETH in the approval process. “If the speculation about a 180 from SEC on the Ethereum ETFs is true, I would guess they try to thread a needle between “ETH” NOT being a security and “staked ETH” (or even more flimsily, “staking as a service ETH”) as BEING a security,” he stated. According to Thorn, by setting clear boundaries between…

As the Shiba Inu (SHIB) price continues to navigate through a period of consolidation, on-chain data reveals a surprising insight: a massive 733 trillion SHIB tokens held in wallets remain profitable despite the current lull in SHIB’s price. This revelation underscores the resilience and long-term commitment of SHIB holders, despite short-term fluctuations in market sentiment. The Break Even Price indicator looks at realized gains and losses based on on-chain data for addresses that are currently holding the crypto asset. Despite the recent SHIB price lull, this on-chain indicator reveals a substantial portion of SHIB holders continue to hold onto their…

The European Council has approved the European Union’s AI Act, making it the world’s first legal framework on artificial intelligence. The act, which received approval on Tuesday, is expected to enter into force next month, with its regulations becoming applicable in two years. This landmark legislation aims to ensure the development of safe and trustworthy AI systems within the single market and protect the rights of EU citizens. Comprehensive framework with specific exemptions The AI Act is designed to apply exclusively to areas within EU law. It includes specific exemptions for systems used solely for military and defense purposes, as…

Blockchains nearly always rely on testnets, kept separate from the ‘mainnet,’ to ensure changes to client software can be introduced safely. Bitcoin has a testnet and this testnet has its own currency, tBTC Of course, tBTC and the entire Bitcoin testnet are supposed to be worthless. However, crypto’s embracing of degeneracy has transformed tBTC into a real, $25 million-and-growing asset backed by approximately one-third the hash rate of Litecoin. Litecoin, a proof-of-work blockchain operating since October 2011, has a hash rate of approximately 1 petahashes per second. Testnet bitcoin has a hash rate around 0.36 petahashes per second. For context,…

The Avalanche Foundation (AF) is excited to announce the launch of its Icebreaker Program, an ambitious initiative to strengthen the Avalanche ecosystem’s growth and resilience by expanding AF’s on-chain activities. This program marks a significant milestone in AF’s journey toward promoting innovation, supporting emerging projects, and becoming a cornerstone of Avalanche’s growing entrepreneurial community. Objectives of the Icebreaker Program The Icebreaker Program has four key objectives: 1. Empowering New Projects: AF aims to assist new and emerging projects in overcoming initial barriers to market entry, providing them with greater support so they can more effectively demonstrate their value proposition and…

The price of Bitcoin immediately dropped below the $60,000 level as the halving approaches. According to CoinMarketCap data, Bitcoin (BTC) is down more than 3% in price over the past 24 hours, trading at $59,800 when writing. Cryptocurrency trading volumes decreased by almost 12% to $40 billion. Source: CoinMarketCap CoinGlass data shows that traders are actively liquidating positions. In the last four hours, traders have offloaded over $115 million worth of assets, $96.70 million of which were long positions and the rest short. The largest share of liquidations occurred on the OKX crypto exchange, totaling $43.81 million. Source: Coinglass You…

Ethereum’s price surged by 5.59% last week, reaching $3,089.25. However, it has experienced a modest decline of 0.56% in the past 24 hours. With a trading volume of $10.95 billion and a market capitalization of $371.1 billion, Ethereum’s market activity is attracting considerable attention. Technical analysis reveals that the Relative Strength Index (RSI) for Ethereum on the weekly chart sits at 55.47. This value indicates a market that is neither oversold nor overbought. Traders are therefore anticipating potential price movements in either direction. This balanced RSI suggests that the market could soon experience increased volatility. Furthermore, the Moving Average Convergence…

Saga, a layer-1 blockchain with a focus on gaming, recently built up a ton of hype for its mainnet and token launch by running a play-to-airdrop campaign and rewarding DeFi stakers across various networks. But the incentives don’t stop there. Saga is now rolling out its next wave with a colorfully-titled campaign. The “Power-Level Over 9,000” airdrop campaign—named after a “Dragon Ball Z” reference that became an internet meme—was first revealed in April and leans on partnerships with more than 100 projects across various chains, Saga says, including games and other decentralized apps. The campaign will dole out bundles of…

BounceBit has officially opened withdrawals for $BBTC and $BBUSD. BounceBit has confirmed that it is committed to enhancing the user’s experience and securing the reliability of its CeDeFi system. The company’s initiative to unlock withdrawals for users is intended to play an important role in promoting active participation in the inflow and outflow assessment system. A secure inflow and outflow financial ecosystem are only possible with such active membership. Withdrawal of $BBTC and $BBUSD is now available!Visit https://t.co/0Z6EfKzMsA to initiate withdrawal on either @BNBChain or Ethereum.We encourage everyone to try withdrawing, with the aim of evaluating the in- and outflow…

BlackRock continues to attract assets to its bitcoin ETF daily, even as its competitors see inflows into similar funds stall. The asset management giant’s iShares Bitcoin Trust (IBIT) has been a flow-gathering standout since US spot bitcoin ETFs launched on Jan. 11. It so far has tallied more than $15.3 billion of net inflows — ahead of the $8 billion or so notched by the next-best Fidelity Wise Origin Bitcoin Fund (FBTC). Read more: BlackRock bitcoin fund accounts for 20% of the firm’s Q1 ETF net inflows Grayscale Investments’ Bitcoin Trust ETF (GBTC) has kept a slight assets under management…