Author: NBTC

Bybit, the Dubai-based cryptocurrency exchange, has rapidly ascended to become the world’s second-largest, capitalizing on the void left by the collapse of FTX and also from the broader crypto market recovery. Founded in Dubai, Bybit has capitalized on these opportunities in offering margin trading services that accept digital tokens as collateral, filling the gap left by FTX’s downfall. Bybit’s trading volume share has doubled to 16% since October, surpassing industry giant Coinbase Global Inc. and trailing only Binance Holdings Ltd. in global rankings for spot and derivatives transactions, according to Kaiko data. The exchange’s growth coincides with a broader recovery…

The Algorand Foundation has introduced LiquidAuth, a new tool to decentralize wallet authentication and communication in crypto. Developers in the crypto space have experienced a vulnerability in wallet communications due to most transactions going through a centralized wallet. On Wednesday, the Algorand Foundation introduced LiquidAuth, a decentralized tool that aims to address this flaw. LiquidAuth aims to distribute wallet communication by enabling secure, peer-to-peer connections and reducing reliance on central providers. The new project aims to tackle the significant security risk associated with centralized wallet communication services, particularly WalletConnect. In other words, many crypto transactions are vulnerable at a single…

Bitcoin price has been on a buying demand above $67K following softer CPI data last week. Analysts are divided in their opinion about Bitcoin’s next directional move. Some believe that the correction is over and Bitcoin will break out to a new all-time high, while others expect to turn down to retest the $60,000 support and go lower. According to on-chain data, the focus has shifted to the Short-Term Holder (STH) realized price, which is suggesting a new potential support level at $61.5K. This comes at a time when Bitcoin’s current trading price stands at approximately $67K, narrowing down from…

Ethena’s protocol is making more connections in the DeFi space, with a higher cap for USDe on Pendle. Ethena is seeking liquidity for its USDe on multiple DeFi protocols. Ethena’s earnings depend on the performance of Ethereum (ETH). Also Read: Ethena’s USDe shows trading disparity after staked token trades lower than $1 Ethena is a yield and DeFi lending protocol that offers as much as 27% APY for holding and staking USDe. In return for the staking rewards, holders of sUSDe take the risk of de-pegging from the dollar, as well as low liquidity. However, sUSDe is a tool to…

Colosseum, a company that sets up hackathons for the Solana ecosystem, raised $60 million. The company has already deployed $250,000 to 11 different companies. Colosseum, the recently launched startup accelerator that organizes hackathons for the Solana ecosystem, raised $60 million for a fund that will invest in early-stage projects, the company announced Tuesday. The fund, which was oversubscribed, will focus on pre-seed investments in selected startups from the winners of Solana Hackathons. “It’s evident that there is a market demand for novel, specialized venture products in crypto, and we are excited to have a diverse group of investors, including ecosystem…

There were interesting developments in today’s onchain data, especially on the memecoin side. It has been observed that, most likely, an insider, that is, a person from the altcoin team, made a high profit by purchasing a large amount of a cryptocurrency as soon as it was released. The suspicious altcoin was a newly launched memecoin called EgyptCat (SPHYNX). According to Onchain data, a cryptocurrency whale purchased a large amount of tokens by paying a high transaction fee as soon as this altcoin was launched, in a process called “sniping”. According to the data, the cryptocurrency whale in question purchased…

Santander, the multinational banking giant, has recently announced that it will start offering cryptocurrency trading services in Brazil. The bank will roll out this functionality to selected customers of Toro, its investment unit, this week and will gradually extend it to more users in the future. With this move, Santander joins Nubank and Itau Unibanco, who also offer crypto trading services in the country. Santander to Offer Cryptocurrency Trading for Selected Customers in Brazil; Mulls General Crypto Rollout More traditional institutions are targeting cryptocurrency-savvy customers in Brazil. Santander, one of the world’s largest banks, has announced that it will start…

Miami — Transak has announced an exciting strategic partnership with Sequence to enhance Web3 gaming by integrating robust payment solutions across its ecosystem of gaming partners.—Sequence, a leading development platform in the Web3 gaming sector, offers a comprehensive suite of tools designed to simplify the integration of blockchain features into games. Through this collaboration, Transak, known for its Web2-to-Web3 onboarding solutions, becomes the exclusive on-ramp provider for Sequence Kit. This integration allows users worldwide to purchase cryptocurrencies directly within the Sequence platform using over 20 local payment methods across more than 160 countries. The Sequence Unity SDK has already integrated…

Individual and institutional crypto investors are reportedly making huge profits with Bitcoin and altcoins. In the latest event, an entity has leveraged $WBTC coin also known as Wrapped Bitcoin to make profits within just 5 days, says SpotOnChain (a prominent on-chain analytics platform). The platform provided the details of the respective development on its official account on X. This entity just took a $421K (+2.59%) profit from $WBTC after only 5 days!10 hours ago, they have sold all 252 $WBTC for 16.64M DAI at ~$66,121.This brought their total profit from $SHIB and $WBTC to $8.66M!Follow @spotonchain and set alerts for…

Curve Finance has implemented a fee switch for its crvUSD stablecoin to enhance adoption and ecosystem engagement, according to a statement released on June 28. Launched in 2023 by the DeFi protocol, crvUSD has faced adoption challenges. However, Curve noted that crvUSD has become an outstanding fee generator, outperforming all other Curve DEX pools by a factor of two. This impressive performance, along with the convenience of fee distribution in crvUSD, fueled the community’s desire to adopt this new fee model. Why fee switch The fee switch to crvUSD aims to encourage users to engage more with other ecosystem products…