Author: NBTC

A newcomer has swiftly risen to prominence in the Stablecoin market, challenging the dominance of traditional players like USDT and USDC. USDe, a recently launched stablecoin, has accumulated a market cap of $2 billion in a very short period. What sets USDe apart from its counterparts is its unique approach to stability, backed not by physical US dollars but rather by cryptocurrencies like ETH and BTC. Led by Julio Moreno, CryptoQuant’s Head of Research, USDe’s unconventional strategy has sparked intrigue and raised questions about its potential impact on the stablecoin ecosystem. USDe’s Rapid Rise USDe’s rapid surge to a $2…

The FTX debtors in possession have filed a motion to authorize a second phase of investigation into issues surrounding the collapse of the US crypto exchange. According to the filing, the investigation would be focused on three major issues, including the complete extent of legal firm Sullivan & Cromwell’s representation of Sam Bankman-Fried, potential claims against “former shareholders of Ledger Holdings” that “sold their interests prepetition” to FTX US, and the “frequency and magnitude of the holes” in the balance sheet at FTX US. The investigations would apparently take roughly 10 weeks and cost approximately $3 million. Read more: Bitcoin…

Speaking at Money 20/20 in Amsterdam, Ricardo Castro of Rootstock Labs highlighted the focus of the Bitcoin layer-2 protocol on providing global acess to decentralized finance (DeFi), particularly in emerging markets. Bitcoin (BTC) and Ethereum (ETH) are by far the two largest decentralized networks, each with unique strengths. BTC is rewnowned for its robust security standards, while Ethereum’s blockchain emphasizes functionality and utility through smart contracts. For years, developers have tried to bridge the two concepts and create a network that can bootstrap decentralized finance solutions atop BTC’s blockchain. Rootstock Labs says it has achieved this, giving Latin American users…

Filecoin, the decentralized storage platform behind the Filecoin (FIL) cryptocurrency, is gearing up for its Dragon mainnet upgrade. As the blockchain prepares for its mainnet upgrade, it is also making significant strides in the competitive digital storage landscape dominated by tech giants like Google Cloud and Amazon Web Services (AWS). Rise of Filecoin in the digital storage industry In recent years, Filecoin has been steadily gaining momentum as a viable alternative to centralized storage solutions. Unlike traditional models that rely heavily on capital-intensive infrastructure, Filecoin leverages blockchain technology to democratise data storage, allowing users to rent out unused hard drive…

Itau Unibanco, the largest bank in Brazil and all of Latam, has reported the availability of cryptocurrency trading services for all its users. Through Ion, the bank’s in-house investment platform, customers can purchase bitcoin (BTC) and ether (ETH), a feature previously available to selected users. Brazilian Banking Giant Itau Unibanco Opens Cryptocurrency Trading Services for All Customers Banks are realizing the potential of offering cryptocurrency opportunities and traditional finance services. Itau Unibanco, the largest bank in Brazil and Latam with over 60 million customers and close to 100,000 employees, has announced the general availability of cryptocurrency trading services for its…

Bitcoin (BTC), the largest cryptocurrency in the market, has once again surged past the significant milestone of $70,000. After a brief period of consolidation between $67,000 and $69,000, the price faced strong resistance at this level. However, the bullish momentum suggests that Bitcoin may consolidate above $70,000, paving the way for a potential retest of the next resistance at $71,300 and a potential climb towards its all-time high (ATH) of $73,700 reached in March. The question remains: Will BTC sustain this anticipated upward movement and surge even further? Analyst Predicts Bitcoin Surge To $74,400 Crypto analyst Ali Martinez highlighted the…

According to recent data from on-chain analytics platform CryptoQuant, in recent weeks, the Bitcoin market has witnessed a fascinating phenomenon: long-dormant BTC, untouched in wallets for up to a decade, are suddenly springing into action. This movement coincides with Bitcoin’s price once again reclaiming the $70,000 mark, a dynamic that has not only captured the attention of investors but also sparked analysis from on-chain analytics experts. Revival Of The Sleeping Giants The data revealed by CryptoQuant illuminates a surprising trend: on June 2 alone, roughly 2,800 BTC that had been idle for two to three years were transferred. The following…

Cronos (CRO) has resumed operations after the completion of the mainnet v1.2 upgrade, designed to enhance the integration and process of decentralized applications (dApps). And we are back! the upgrade was completed smoothly and all services are online. Thank you for your support 🙂 https://t.co/rMPqcnrkCY — Cronos (@cronos_chain) April 17, 2024 Further, the upgrade improves RPC functionality and developer backward compatibility. The network will use block.difficulty or block.prevrandao to maintain dApp backward compatibility. Moreover, the RPC improvement introduces bug-fixing and the support for different EVM parameters. Participants can use the currently operational Cronos explorer as the Cronoscan catches up. Cronos…

Decentralized exchange SushiSwap has rebranded as Sushi Labs, an autonomous company replacing the protocol’s decentralized autonomous organization (DAO), although the SushiSwap name will still be used for its DEX-focused operations. In a bid to address slowing growth and liquidity issues, SushiSwap has introduced a new business model under the name Sushi Labs. The revamp replaces the decentralized autonomous organization (DAO) with a “council structure” similar to that of derivatives protocol Synthetix. Sushi Labs will operate under four councils: the Sushi High Kitchen, the Treasury Council, the Grants Council, and the Ambassador Council. The High Kitchen, comprising six to eight members,…

Pundi X, a leading provider of blockchain-based point-of-sale (POS) solutions, has unveiled a groundbreaking development in the realm of decentralized payment systems. Through a meticulous governance voting process on the Pundi X Chain, the company has decided to integrate the Solana blockchain onto its innovative XPOS platform. This strategic move reflects Pundi X’s commitment to advancing accessibility and efficiency in blockchain technology. Welcome @Solana 🚀 to the XPOS!#Solana blockchain has been successfully integrated on the #PundiX XPOS 🔥Users can now buy and pay with #USDT using Solana-supported wallets, including @phantom & @backpack ✅Read more 👇https://t.co/CYrTjd2A26 — Pundi X Labs ➡️…