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 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…

Solana begins creating blocks with new ‘scheduler’

AltcoinsJun 17

Today, enjoy the Lightspeed newsletter on Blockworks.co. Tomorrow, get the news delivered directly to your inbox. Subscribe to the Lightspeed newsletter. Howdy! For today’s edition, I dove into Solana’s technical inner workings, which turned my brain into a ball of magma for a few hours. If you need me for the rest of the day, I’ll probably be lying on a couch somewhere, contemplating the meaning of existence. Anyways: How v1.18.15 could make Solana more efficient Solana’s block-creating software just experienced a pretty consequential update, but there’s no way to tell how many validators are actually using it. Over the…

What is OP_CAT? Satoshi’s dormant opcode that could revolutionize Bitcoin’s smart contracts

BitcoinJun 17

Bitcoin has a built-in scripting language that allows for the creation of simple smart contracts. However, the scripting language has limitations, and some of the original opcodes (operation codes) were disabled in the early days of Bitcoin’s development. One such opcode is OP_CAT, which has recently resurfaced in discussions within the Bitcoin community. What is OP_CAT? OP_CAT, short for “Operation Concatenate,” is an opcode that was initially proposed by Bitcoin’s creator, Satoshi Nakamoto. The opcode allows for the joining of two data values on the stack within a Bitcoin transaction script. In simpler terms, it enables the combination of two…

Is Ethereum overvalued? Network value indicator's all-time high suggests it is

EthereumJun 17

Ethereum (ETH) is the second most valuable cryptocurrency and the leading infrastructure for Web3 and decentralized finance (DeFi). However, a recent indicator’s all-time high suggests the token may be overvalued in relation to the network activity. Finbold retrieved premium data from Santiment’s Sanbase Pro on June 16, highlighting a network value indicator making bearish new highs. For validation, we also compared it to another solid network value indicator, both in a two-year time frame. Notably, the NVT metric raised concerns with an all-time high 134 ratio. This result indicates ETH’s daily capitalization is 134 times higher than the daily volume…

ONDO’s Trading Volume Surges 300%, Outpaces Other DeFi Tokens

AltcoinsJun 17

ONDO’s trading volume surged by over 300% in May, signaling heightened on-chain activity and sustained market interest, according to data from IntoTheBlock. ONDO’s transaction volume fluctuated with a generally upward trend, indicating a spike in trading volume and user engagement. The on-chain transaction volume of $ONDO is up over 300% since May, indicating significant on-chain activity. pic.twitter.com/szxl6lfdkc — IntoTheBlock (@intotheblock) June 13, 2024 ONDO consistently maintained the highest transaction volume throughout the period, compared to cryptocurrencies like Maker, Pax Gold, Maple, and Goldfinch, which had significantly lower and more stable volumes. Key observations include ONDO’s high volatility, with sudden spikes…

Bitcoin’s Upside Momentum Fading: What’s Next for BTC?

BitcoinJun 17

Bitcoin price started a recovery wave from the $67,000 zone. BTC is now struggling to clear the $68,800 and $69,500 resistance levels. Bitcoin remained stable above the $67,000 zone and recovered higher. The price is trading above $68,000 and the 100 hourly Simple moving average. There was a break above a key bearish trend line with resistance at $67,800 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could gain bullish momentum if it settles above the $68,800 level. Bitcoin Price Faces Resistance Bitcoin price extended its downside correction below the $68,000 level. BTC tested…

Opportunity? ‘Most bullish altcoin’ Ethereum signals imminent surge

EthereumJun 17

Ethereum (ETH) has once again captured the spotlight with its recent price movements and the emergence of a bullish pattern on its charts. This pattern, often seen as a precursor to further price increases, has ignited discussions among investors and analysts about Ethereum’s potential to revisit previous highs. Over the past week, Ethereum has experienced notable volatility, marked by a 7% decline in its price. The cryptocurrency’s performance in the previous month was characterized by a strong uptrend that significantly boosted its price. However, a recent correction has tempered short-term investor optimism. Despite this performance, analysts believe that Ether still…

Industry Leaders Discuss Spot Solana ETF Potential

AltcoinsJun 17

As the US Securities and Exchange Commission (SEC) progresses with the approval of spot Ethereum exchange-traded funds (ETFs), industry leaders are speculating whether Solana is the next potential candidate. Indeed, many experts believe Solana could be next in line for an ETF, given its growing prominence in the cryptocurrency market. Is a Spot Solana ETF Next? SEC Chair Gary Gensler announced that spot Ethereum ETFs are expected to launch this summer. Gensler emphasized the positive progress in the final approval process, with the last registration requirements being managed at the staff level. With this development, investors are keen to see…

Ethereum On The Rise and Outperforms Bitcoin: Signals Indicate Fresh Increase

EthereumJun 17

Ethereum price started a fresh increase from the $3,365 zone. ETH outperformed Bitcoin and might aim for a move toward the $3,800 resistance zone. Ethereum started a recovery after the bulls appeared near the $3,365 zone. The price is trading above $3,550 and the 100-hourly Simple Moving Average. There was a break above a key bearish trend line with resistance near $3,550 on the hourly chart of ETH/USD (data feed via Kraken). The pair could extend gains if it stays above the $3,550 pivot level. Ethereum Price Outperforms Bitcoin Ethereum price extended losses below $3,550 and $3,500 resistance levels. However,…