Author: NBTC

How will Norway’s crackdown on crypto mining impact the global Bitcoin market and the country’s economy? Amid the recent completion of Bitcoin’s (BTC) fourth halving, which saw miner rewards halved to 3.125 Bitcoins, Norway is taking decisive steps to address the energy-intensive practice of crypto mining within its borders. Against Bitcoin’s price volatility, currently hovering around $66,000, the Norwegian government is gearing up to enact new legislation aimed at reining in data centers, a move partly intended to curb crypto mining activities. According to a report from local news outlet VG, citing statements from Digitalization Minister Karianne Tung and Energy…

The decentralized finance (DeFi) landscape has been brimming with activity over the past week. Leading the charge, Lido Finance announced the launch of its Simple Distributed Validator Technology (DVT) on the Ethereum mainnet. This innovation enables individual and community stakers to operate validators, democratizing participation and enhancing the security and decentralization of the node operator ecosystem. Aave Continues to Make Strides in DeFi with Simple DVT Deployment In a move to streamline staking, Aave’s community introduced the FastPass proposal, aiming to allow a portion of Safety Module stakers to skip the typical 20-day cooldown period for a fee. This proposal,…

Total miner revenue is currently about triple the pre-halving level, the report noted. The spike in network fees indicates the level of developer interest in Bitcoin, and the fee revenue potential for miners, Bernstein said. The broker expects 15% of miner revenues to be network transaction fees on a sustainable basis. Since the reward halving of bitcoin (BTC), miners have earned about 19 BTC per block on average, which is over and above the standard block rewards as a spike in network fees led to a tripling of revenue, broker Bernstein said in a research report on Monday. The quadrennial…

Recent data over a seven-day period ending April 21, 2024, shows that non-fungible token (NFT) sales have declined by 25.48%, totaling approximately $236.96 million. Bitcoin dominated the NFT market this week, contributing $111.8 million to the overall sales since April 14. NFT Sales Tumble This week, NFT revenues fell 25.48% compared to the previous week. Losses affected four of the top five blockchain platforms in NFT transactions. Bitcoin maintained the lead with $111.8 million, though its sales fell by 35.63%, as reported by cryptoslam.io. Ethereum also experienced a decrease, with sales falling 20.38% to $49.58 million. Solana’s sales dropped by…

On Thursday, Ethena Labs unveiled its new strategy to back USDE with bitcoin, enhancing the stablecoin’s foundation. The stablecoin, known for delivering yields in the double digits, has rapidly ascended to become the fifth-largest stablecoin by market capitalization, now valued at over $2 billion. USDE to Utilize Bitcoin as Collateral An update shared by Ethena Labs on X reveals that USDE will adopt bitcoin (BTC) as collateral to maintain its peg to the U.S. dollar. The transition to BTC-backed positions will be visible on the Ethena dashboards by Friday, the team announced. Ethena pointed out that hedges currently constitute around…

Hut 8 now has a more diversified business model following its merger last year with US Bitcoin Corporation, the report said. Benchmark initiated coverage of the bitcoin mining stock with a buy rating and a $12 price target. Its bitcoin stash of 9,102 coins provides it with a sizable liquidity cushion, the report said. The new Hut 8 (HUT), resulting from the merger with US Bitcoin Corporation (USBTC) that closed last November, features a diversified business model with multiple revenue streams, broker Benchmark said in a research report on Monday. Benchmark initiated coverage of the bitcoin (BTC) miner with a…

Bitcoin demonstrates ongoing momentum surging to a high of $73,887 without showing signs of exhaustion. The crypto market saw Bitcoin (BTC) break new ground, hitting an all-time high of $73,887 (on EXMO) before experiencing a rapid pullback as it briefly touched $74,000. This surge in volatility followed a record-breaking day, with net inflows totaling over $1 billion, according to data from BitMEX Research. [1/4] Bitcoin ETF Flow – 12 March 2024All data in. Record day with over $1 billion of net inflow. Blackrock with a record $849 million of inflow pic.twitter.com/dKFmM3Qvaa — BitMEX Research (@BitMEXResearch) March 13, 2024 As per…

The floor price of Runestone non-fungible token (NFT) collection dropped significantly over the past 24 hours following the snapshot taken at Bitcoin block 840,269 for the airdrop of a meme coin to Runestone holders. According to the data from CoinGecko, the floor price of the NFT collection dipped almost 55% in 24 hours, currently amounting to 0.033 BTC (around $2,168). Additionally, the 24-hour trading volume of the collection also dipped by 55% to 2.63 BTC. The all-time high floor price for Runestone was witnessed on April 11 when the Bitcoin-based NFT collection hit the price tag of 0.095114 BTC (approximately…

Michael Saylor’s MicroStrategy has an unrealized profit of over $8 billion as Bitcoin (BTC) consistently reaches new all-time highs. According to data from Saylor Tracker, MicroStrategy has accumulated a total of 205,000 Bitcoins — costing the firm around $6.95 billion — since 2020 at an average price of $33,928 in 36 different dates and transactions. The company’s BTC holdings are currently at a 117.3% profit — roughly $8.16 billion — at the time of writing, per the data provider. Notably, MicroStrategy’s latest BTC purchase of 12,000 coins was completed on March 11 at an average price of $68,477. Per Saylor…

Okx and the English football club Manchester City have partnered to launch commemorative football shirts that can be minted as non-fungible tokens (NFTs). Fans of Manchester City, the reigning English football champions, will be able to mint the “Unseen City Shirts” digital collectible from April 22-25. Authentic Fan Engagement The cryptocurrency exchange Okx and the English football club Manchester City have launched commemorative football shirts that can be minted as digital collectibles or non-fungible tokens (NFTs). According to a statement, fans of Manchester City, the reigning English champions, will be able to mint the “Unseen City Shirts” digital collectible from…