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.

Relay Chain Replacement And 10M DOT Prize Incentive

AltcoinsJun 8

Gavin Wood, the founder of the Polkadot protocol, has unveiled a new Gray Paper outlining the forthcoming Join-Accumulate Machine (JAM) upgrade for the network. This announcement occurred during Wood’s presentation on Polkadot’s future at the Token2049 crypto conference in Dubai. Wood introduced the JAM Implementer’s Prize, a 10 Million DOT prize pool, to encourage diverse development of the JAM protocol. Polkadot Unveils JAM Upgrade According to the announcement, the JAM upgrade aims to replace the relay chain, which acts as the central data chain in the Polkadot network, with a “more modular and minimalist design” that will allow Polkadot to…

Kaiko Partners with Gemini to Enhance Derivatives Trading Platform

ExchangesJun 8

Kaiko has recently revealed a partnership with Gemini, a reputable crypto trading and storage platform. This partnership revolves around the Gemini Foundation and the derivatives trading platform provided by Gemini. It will implement Kaiko Benchmark Reference Rates marketplace. Kaiko is thrilled to announce its partnership with @Gemini Gemini Foundation will be using Kaiko Benchmark Reference Rates for its derivatives trading platform. Read the full announcement, below 👇 https://t.co/RVh5FkxqxC — Kaiko (@KaikoData) June 6, 2024 Kaiko Benchmark Reference Rates Enhance Portfolio Valuation It is a global company that specializes in offering derivatives trading services in various areas. Initially, the platform was…

Bitcoin's Big Breakout Coming Soon? Satoshi's Ally Predicts When

BitcoinJun 8

Bitcoin's price has been pretty steady at around $70,000 for a while now, since mid-May. Despite this, the cryptocurrency's price has shown minimal movement, fluctuating within a narrow 6% range. This period of low volatility has frustrated market participants, particularly as Bitcoin's all-time high of $74,000 remains tantalizingly close yet seemingly out of reach. The lack of movement in the price has seriously annoyed traders and investors, and there has been a lot of talk about price manipulation. Adam Back, who is a contemporary of Bitcoin's mysterious creator Satoshi Nakamoto, addressed these concerns in a recent discussion. Back suggested that…

Chia Network Navigates IPO Hurdles, Eyes Market Conditions

AltcoinsJun 8

Financial Challenges Stall IPO Plan In 2019, Chia Network,the parent company of inventor Bram Cohen’s BitTorrent, had serious troubles during its IPO. The ambitious plans of the crypto firm were disrupted temporarily,because there was financial distress at its banking partner Credit Suisse Progress Amidst Setbacks Notwithstanding the upheaval, Chia Network (xch) has persisted in a resolute push towards its aim of going public. Gene Hoffman, the CEO, shared his view during a conference hosted by law firm Brown Rudnick in Manhattan and came out with the latest details. “We confidentially filed a form S-1/A with the SEC at the end…

Here’s How Much XRP, SOL, SHIB and DOGE It Holds

ExchangesJun 8

Binance, the world's largest cryptocurrency exchange, has published its 19th proof of reserve in order to bring transparency to the assets held by the platform. The snapshot was taken on June 1 and reveals significant changes in user holdings in various cryptocurrencies. User BTC holdings increased by 534 BTC compared to May 1, reaching 582 thousand. The ratio of customer net balances to Binance net balances was 106.70%, and Binance holds a total of 621,329,612 BTC. The exchange balance is 602,614,161 BTC, and an additional 18,715,451 BTC is held in third-party custody. User ETH holdings reached 4.664 million, a significant…

Bitcoin Scarcity Grows as Miner and Exchange Reserves Drop by 183,253 BTC Since January

BitcoinJun 8

Over the past 158 days, starting from the beginning of the year, the quantity of bitcoin held by exchanges and miners has decreased by 183,253 BTC, valued at nearly $13 billion. Roughly 90.95% of this bitcoin withdrawal originated from cryptocurrency exchange reserves. Exchanges and Miners See Massive Reductions From Jan. 1 to June 7, 2024, a substantial amount of bitcoin (BTC) has exited the reserves of bitcoin miners and exchanges. Although less than 10% of the total originated from BTC miners, their combined holdings are steadily decreasing. According to data from cryptoquant.com, around 183,253 BTC, valued at $12.9 billion, has…

Injective Votes On Major Upgrade To Make INJ Even More Deflationary: Will Prices Recover?

AltcoinsJun 8

Injective Protocol, a blockchain for decentralized finance (DeFi) and derivatives trading, is voting on a proposal to significantly reshape the platform’s tokenomics and introduce a new era dubbed Injective 3.0. According to Injective, through a post on April 19, the proposal is now open for voting via the Injective Hub. For the next four days, stakers and validators are free to participate. Community Voting On Injective 3.0 Over the months since launching in 2023, Injective caught the crypto community’s attention. The team aims to launch a platform for users to launch DeFi-focused protocols in a low-cost, scalable, and yet Ethereum-compatible…

FTX Creditors Filed an Objection against Bankruptcy Reorganization Plan

ExchangesJun 8

A group of creditors of the now-collapsed FTX has moved to court, objecting to the crypto exchange’s bankruptcy reorganization plan, which would pay the unsecured creditors the entirety of their claims, if not more. A group led by Sunil Kavuri, one of FTX's vocal creditors, filed the objection yesterday (Thursday) in the US bankruptcy court. They reject the reorganization plan on several grounds, including the assertion that it does not serve the best interests of the creditors. The objection further highlighted that the plan ignores property rights issues. Furthermore, it pointed out that, as the settlement with the creditors would…

Mandala Chain's IDCHAIN Set to Transform Digital Identity in Indonesia

BlockchainJun 8

Key takeaways Mandala Chain is introducing IDCHAIN It's projected to onboard over 10 million new wallets in Indonesia. The initiative integrates government, enterprise, and public sectors on a secure blockchain platform. Mandala Chain and its vision Mandala Chain is a Polkadot parachain aiming to integrate government and enterprise applications with the public and retail sectors. The project focuses on creating real-world utility and fostering adoption, particularly in Indonesia. As a secure Layer 1 blockchain, Mandala Chain plans to revolutionize various sectors and plans to onboard over 10 million new wallets through its inaugural use case, IDCHAIN. IDCHAIN and its impact…

BTC Shows Promising Signs Across All Time Frames

BitcoinJun 8

Bitcoin’s price currently stands at $71,347, showing an impressive rise within the 24-hour intraday range of $70,065 to $71,595. With a trading volume of $25.17 billion and a market capitalization of $1.4 trillion, bitcoin has gained 4.9% this week, 5.6% over the past two weeks, and 14.4% in the last 30 days. Bitcoin Bitcoin’s 1-hour chart reveals a recent recovery following a sharp decline, with a key resistance level at $71,629 and support around $70,116. The higher volume during recent drops indicates strong selling pressure, while the subsequent increase in volume suggests strong buying interest. BTC/USD daily chart via Bitstamp.…