Author: NBTC

NBTC

NBTC is the editorial account for NBTC News, covering Bitcoin, Ethereum, DeFi, blockchain infrastructure, exchanges, mining, regulation and digital asset markets. The editorial team focuses on clear sourcing, timely updates and practical context for crypto readers.

Why John Gerrard Is Generating Hourly Ethereum NFT Art for a Full Year

NFTJun 17

On Tuesday, digital art purveyor Feral File will debut “Crystalline Work,” a new generative, on-chain series from the Irish contemporary artist John Gerrard that will algorithmically produce new pieces every hour for the next year. The series, set to become the longest-running on-chain performance art project ever attempted, returns Gerrard to familiar territory: environmental activism. In “Crystalline Work,” a robot stationed at a digital, barren version of the North Pole performs an algorithm inspired by ice formations to create intricate designs made of crystal bar lattices. The series also utilizes another Gerrard favorite, the WebGL browser API, to bring the…

Volatility Ahead amid Surge in ETH Sell Pressure

EthereumJun 17

Ethereum price rapidly tumbled to a 25-day low of $3,428 on June 13, 2024, amid intense volatility in the wake of the US Fed rate pause announcement; on-chain data trends suggest more downside ahead. Ethereum Price Falls Below $3,500 First Time Since ETF Approvals The crypto market has been in a consolidation phase for the better part of the past month. During that period, ETH managed to outperform the market average thanks to bullish tailwinds from the ETF approval from the US SEC in late May. However, three weeks after the official approval verdict, the fund sponsors are still stuck,…

Cardano (ADA) Skyrockets 29% in Volume Amid Crypto Bloodbath

AltcoinsJun 17

In the last 24 hours, Cardano (ADA) saw a massive 29% increase in its futures trading volume, reaching over half a billion dollars, as reported by CoinGlass. This increase reveals a strong shift toward ADA perpetual futures trading, which has outpaced the spot market. According to CoinMarketCap, Cardano spot trading volume on exchanges totaled $466 million, bringing the total trading volume to nearly $1 billion. The trend toward futures trading suggests the more speculative nature of trading over long-term investment. The modest change in spot market activity supports this trend, indicating that traders were more focused on futures trading for…

University of Austin And Unchained To Raise $5 Million For Bitcoin Endowment

BitcoinJun 17

Unchained and the University of Austin (UATX) have announced their collaboration to create a long-term endowment holding Bitcoin. “I’ve been very passionate about what UATX is building in Austin,” said Joseph Kelly, CEO and co-founder of Unchained, who has personally donated 2 BTC to kickstart this campaign. “I’ve seen the values the organization places on free speech and on building a modern academic institution that’s integrated with the marketplace, and I’m thrilled to play a role in helping the university make bitcoin a part of its long term strategy.” The initiative aims to raise $5 million for the university's endowment,…

Doodles Will Migrate Avatar Creation 'Stoodio' to Ethereum Layer-2 Base

NFTJun 17

Doodles, an NFT-driven entertainment property, is making a move. On Monday, the project announced that it will migrate its “Stoodio” avatar customization platform to Ethereum layer-2 scaling network Base, departing the Flow blockchain in the process. The transition, set to take place in mid-July, aims to leverage Base's cheaper and faster transactions compared to the Ethereum mainnet. Base, which was developed by popular crypto exchange Coinbase, is gaining steam within the increasingly crowded field of Ethereum scaling networks. The original Doodles profile picture (PFP) collection will remain on Ethereum, and only the Stoodio and the various NFT wearables and character…

Ethereum (ETH) Holders Sell, Stalling Price Recovery

EthereumJun 17

Ethereum’s (ETH) price has disappointed investors, falling from nearly $4,000 to below $3,500. This has led to many holders moving their ETH to the exchanges to minimize their losses. Ethereum Investors Lose Confidence Ethereum’s price drop is causing ETH holders to become increasingly skeptical, with many moving to sell their holdings to offset their losses. Looking at the network realized profit and loss indicator, profit-taking has surged over the last few days. The spike in the metric is the largest in three months, with the last such selling observed back in March when ETH was rallying. But this is being…

U.S.-Listed Bitcoin Miners Reached Record Total Market Cap of $22.8B in June: JPMorgan

MiningJun 17

The aggregate market cap of the 14 U.S.-listed bitcoin mining stocks the bank tracks hit a record high in June, the report said. The bank noted that miners outperformed bitcoin on news of Core Scientific’s deal with AI firm CoreWeave. U.S.-listed miners increased their share of the global network hashrate for the second month in a row. The total market cap of the 14 U.S.-listed bitcoin (BTC) miners followed by JPMorgan hit a record high of $22.8 billion on June 15, the Wall Street bank said in a research report on Monday. The bank noted that almost all the companies…

Ethereum Foundation Associated Transferred $64.48M ETH!

EthereumJun 17

Key Points: Ethereum Foundation moved 18,089 ETH worth $64.48M within an hour, sparking market interest. Since 2015, the Foundation has moved 44,167 ETH multiple times, strategically selling or recharging trading platforms. Ethereum Foundation has gained wide appeal in the crypto community. An on-chain data analyst, @ai_9684xtpa, tells us that this is only part of the Foundation’s continuous strategic management of its holdings. 哦豁，以太坊基金会关联地址正在大额转移 ETH，是要有什么动作吗？🤨 2015.11.20 以太坊基金会向地址 0x8e2…3D052 转移 44167 枚 ETH（币价仅为 $0.9268），这笔 $ETH 在九年内经过三次中转，且每次都伴随部分卖出 / 交易所充值；最后 18089 枚已于过去一小时内转移至地址 0x2f7…eE2e3，价值 6448… pic.twitter.com/2FMm2A90MO — Ai 姨 (@ai_9684xtpa) June 16, 2024 On November 20, 2015, the Ethereum Foundation sent a large chunk of…

Why Bitcoin’s adoption of Ordinals and BRC-20 is saving it from irrelevance

BitcoinJun 17

Nic Carter from Castle Island Ventures and Elizabeth Olson, an Ordinals educator, discussed how the adoption of Ordinals and BRC-20 is saving Bitcoin from irrelevance in a recent panel titled “Bitcoin Renaissance” at Consensus, which took place today. “I would actually argue to say that Ordinals and these fungible token standards, like runes, these are actually saving Bitcoin,” Olson said. She pointed out that Bitcoin Ordinals, alongside runes and BRC-20, have incurred over $160 million in fees paid to miners, helping to secure the Bitcoin network. Olson also mentioned the potential of OP_CAT, a protocol proposed by Satoshi Nakamoto himself,…

Arthur Hayes Deposits $10.67M in ETH to LRT Protocol EtherFi!

EthereumJun 17

Key Points: BitMEX founder Arthur Hayes transferred 3,000 ETH to LRT protocol EtherFi today. Hayes uses the remaining 1,034.5 ETH in his address for ether-liquid yield, leveraging DeFi opportunities. Hayes’ significant investment signals confidence in EtherFi, potentially driving more interest in the protocol. BitMEX founder Arthur Hayes deposited 3,000 ETH—equivalent to approximately $10.67 m—into the LRT protocol EtherFi at 16:39 UTC+8 today, thus actively participating in innovative DeFi platforms. Arthur Hayes, one of the most influential people in the crypto space, has made strategic investments and moved to EtherFi in the past. In his latest move, he moved funds to…