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.

OKX admits testing ‘collection program’ as Bitcoin fees skyrocket

ExchangesJun 8

OKX has acknowledged testing a new program on Bitcoin’s network, leading to the average transaction fee soaring to more than $50 per transfer. ,According to data from mempool.space, the average transasction fee on the Bitcoin network surged to as much as $52 on Friday, requiring over 5.4 BTC (around $400,000) in fees to be paid to miners to generate a single block in the Bitcoin network. Crypto exchange OKX appears to be responsible for the abnormal spike in transactional fees on the Bitcoin network 感谢提醒，团队在测试一个归集程序，已停止。 https://t.co/JSNrElLVrA — OKX中文 (@okxchinese) June 7, 2024 After questions were raised, OKX’s Chinese account promptly…

Your dapp probably isn’t DePIN

BlockchainJun 8

Remember the buzz around DAOs in the last crypto cycle? Decentralized autonomous organizations were supposed to revolutionize governance. Instead, countless projects misused the term, labeling themselves as DAOs without embodying the core principles of decentralization, autonomy or even functioning as an organization. As the hype grew, the definition became muddled, leaving many investors and enthusiasts with a skewed understanding of what DAOs truly represent. We’re witnessing a similar trend with DePIN (decentralized physical infrastructure networks). The term has rapidly gained traction, with experts projecting the DePIN market to reach a $1 trillion valuation within the next decade. Every day, new…

Runes Beat Ordinals and BRC-20 With 150,000 Average Daily Transactions

BitcoinJun 8

Bitcoin transactions continue to grow following the halving, with data showing that much of the recorded demand comes from the Runes protocol. Since its launch, Runes has recorded at least 150,000 daily transactions, dethroning BRC-20, which now struggles to achieve 10,000 transactions. Runes Dethrone BRC-20 and Ordinals as Protocol Transactions Surge On-chain data shows that the Runes token standard has effectively sidestepped BRC-20 and Ordinals. According to Dune Analytics, the number of transactions on Rune has averaged at least 150,000 per day since its debut on April 20. The highest it has ever been was 753,584 on April 23. On…

Ducati Takes Marc Marquez and Begins to Accept Cryptocurrencies

RegulationJun 8

After much anticipation, Ducati, which overwhelmingly dominates the premier class of MotoGP, has sealed a deal with Marc Márquez to take the most coveted seat on the grid and become the teammate of Pecco Bagnaia, the current two-time world champion. Good news always comes together, and thanks to the recent partnership between Bitnovo Pay and Ducati Alicante, customers around the world will be able to purchase Ducati motorcycles in Spain using cryptocurrencies as a method of payment. This innovative payment option opens new opportunities for motorcycle enthusiasts, further consolidating Ducati’s presence in the market and offering its customers a modern…

Cardano Treasury Now Controls 1.5 Billion ADA, Worth $720 Million

AltcoinsJun 8

Cardano’s Treasury has hoarded 1.5 billion ADA tokens, worth over $720 million, which constitutes over 4% of the circulating supply. This is a reservoir of funds dedicated to fostering the ecosystem’s development. Cardano’s Treasury Hits 1.5 Billion ADA Last month, the Treasury’s dollar value briefly surpassed $1 billion. This prompted Dan Gambadello, the host of the Crypto Capital Venture YouTube channel, to hail it as a “fundamental pillar of a self-sustaining ecosystem.” Despite fluctuations in the Treasury’s dollar value due to market dynamics, the accumulation of ADA tokens has continued to climb steadily. “This decentralized nature means that decisions are…

The Bitcoin Zero-Knowledge Arms Race Begins

BlockchainJun 8

In case you missed it, Starkware, a company historically active in the Ethereum ecosystem, announced yesterday plans to start committing significant resources towards new Bitcoin scaling opportunities that have emerged over the past months. Pioneers of zero-knowledge systems, the group has revealed plans to leverage OP_CAT in order to bring their STARK technology to Bitcoin. The soft fork proposal could allow zero-knowledge proofs to be verified natively, opening up an entirely new design space for developers. The announcement is looked at by many as a significant technical milestone for the Bitcoin protocol. Here are my unsolicited 2 cents on the…

Scaramucci: GameStop Should Buy Bitcoin

BitcoinJun 8

American financier Anthony Scaracummi has suggested that video game retailer GameStop should buy Bitcoin, the largest cryptocurrency by market capitalization. Earlier today, GameStop's shares nose-dived roughly 30% after revealing underwhelming financial results and announcing its plan to issue more shares. This was a sharp turnaround after the shares of GameStop soared by almost 50% due to a livestream announcement by a YouTube account that is believed to be related to prominent American financial analyst and investor Keith Gill (colloquially known as "Roaring Kitty"). card Gill was supposed to celebrate becoming a paper billionaire in his livestream this Friday, but GameStop's…

New Texas Stock Exchange Gets Backing from BlackRock and Citadel, Aims for 2025 Launch

RegulationJun 8

The Wall Street Journal (WSJ) reported that a group backed by Wall Street giants BlackRock and Citadel Securities is launching a new national stock exchange in Texas. Texas Stock Exchange (TXSE) aims to challenge the regulatory environment of the New York Stock Exchange (NYSE) and Nasdaq. This move seeks to capitalize on rising dissatisfaction with compliance costs at the Nasdaq and NYSE, offering a more CEO-friendly environment. TXSE Garners Strong Support from Financial Giants for 2025 Launch Despite the dominance of NYSE and Nasdaq in US corporate stock listings, TXSE’s backers, including Citadel Securities and BlackRock, provide significant support. These…

Trader Nets $1.49 Million from Meme Coin Trading in Two Days

AltcoinsJun 8

A trader generated a profit of $1.49 million by trading meme coins over just two days, March 16 and 17. This remarkable financial gain was realized through trading seven different meme coins, all resulting in profitable outcomes. The trader earned a total of 8,282.8 Solana (SOL), equivalent to approximately $1.49 million. Not an insider, this trader made $1.49M by trading #MEMEcoin in just 2 days!😱 He traded 7 #MEMEcoins on Mar 16 and Mar 17, all of which were profitable, with a total profit of 8,282.8 $SOL($1.49M)! We scanned all his transactions, let’s see how he did it.👇 In the…

ENS Ecosystem Backs Open-Source Projects with $50,000 USDC via Drips

BlockchainJun 8

For the next half year, the ENS Ecosystem Working Group will be using the Drips Network to provide financial backing for important open-source projects as well as their creators. The plan is to stream $50,000 USDC to seven core projects over this time period including Wagmi, ethers.js, graphql-request, OpenZeppelin contracts, noble hashes, scure-base and dns-packet. This program represents an effort by ENS DAO to reward those OSS initiatives without which their own systems would not function properly. ENS Pioneers Continuous Funding for Public Infrastructure with Drips Continuous and transparent funding is facilitated by the Drips Network which ensures financial support…