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.

Kraken Faces Major Bitcoin and Ethereum Withdrawals Amid Surging Demand

ExchangesJun 5

Kraken’s Bitcoin reserves are 122,300 BTC, which is the same as 2018 levels. Many exchanges are feeling the pinch from the soaring demand for Bitcoin and Ethereum. The biggest withdrawals of Bitcoin (BTC) and Ethereum (ETH) from the cryptocurrency exchange Kraken since 2021 have occurred recently. The current exchange supply crisis was described in depth in a post by Joao Wedson, founder and CEO of Dominando Cripto, which was cited by CryptoQuant, a blockchain analytics firm. Wedson reports that Kraken’s Bitcoin reserves are 122,300 BTC, which is the same as 2018 levels. Since early 2016, this marks the first occasion…

Bitcoin's latest rally driven by ‘huge accumulation’

BitcoinJun 5

Bitcoin’s (BTC) latest rally was driven by “huge accumulation” as investor appetite remains high despite five days of trading in the red over the past week, according to CryptoQuant research. Just three days ago, Bitcoin was trading at roughly $65,500 as markets closed on Friday. However, a sustained rally over the weekend took prices to $72,500 before US markets opened for trading on Monday. ‘Huge accumulation’ The analysis from CryptoQuant attributes the rally to a pronounced phase of accumulation, which indicates strong confidence among investors in Bitcoin’s long-term prospects, prompting them to increase their holdings significantly. One of the most…

Galaxy Digital Could Benefit From Improving Political Sentiment Towards Crypto in U.S.: Benchmark

RegulationJun 5

Benchmark assumed coverage of Galaxy Digital with a buy rating and a C$19 price target. The digital assets platform is set to benefit from improving political sentiment towards cryptocurrencies, the broker said The approval of spot bitcoin ETFs in January was a boost for the company, the report said. Galaxy Digital (GLXY) is well positioned to benefit from resurgent crypto markets, U.S. political leaders’ improving sentiment towards digital assets, and the potential for increased adoption of bitcoin (BTC) and other cryptocurrencies, broker Benchmark said in a research report on Tuesday. Benchmark assumed coverage of the digital assets platform with a…

Shiba Inu Reacts As Top Dubai Exchange Lists BAD

ExchangesJun 5

Dubai-based crypto exchange CoinW announces the listing of Shiba Inu’s artificial intelligence partner token, Bad Idea AI (BAD), on its trading platform. According to a recent announcement, CoinW will list the token in its innovation zone under the BAD/USDT trading pair. The exchange also took to X to announce the development. 🚨 #CoinW Listing Alert!$BAD (BAD IDEA AI) @badideaai will be Listed on 4th June 2024, 10:00 UTC. 🔥 Join the BAD bounty program and share a 10,000 USDT reward! 🔥 🔸 Deposit: 3rd June 2024, 10:00 UTC 🔸 Trading: 4th June 2024, 10:00 UTC 🔸 Withdraw: 4th June 2024,…

Crypto survey shows less consumer scepticism, but a third expect bitcoin price fall

BitcoinJun 5

LONDON, April 8 (Reuters) - Consumers are becoming slightly less sceptical about bitcoin, a Deutsche Bank survey published on Monday showed, although just under a third of those questioned still expect its price to drop sharply by the end of 2024. WHY IT'S IMPORTANT Although people have poured billions of dollars into bitcoin, hoping for returns if its price rises, top regulators have said it has no inherent value and presents risks. BY THE NUMBERS Deutsche Bank said it surveyed more than 3,600 consumers, with 52% of respondents saying cryptocurrencies will be an "important asset class and method of payment…

Polygon Spinoff Avail Raises $43M in Series A Funding

RegulationJun 5

Avail, a blockchain project known for its data availability network, announced Tuesday that it has raised $43 million in a Series A funding round led by Founders Fund, Dragonfly and Cyber Fund. The news comes three months after Avail, which spun out of Polygon in March 2023, shared it had raised $27 million in seed funding. Data availability networks like Avail are used to help blockchains store information cheaply and in an easy-to-reference manner. The tech is particularly useful in the context of blockchain scaling, helping layer-2 "rollup" networks manage transaction data and other information without relying on the main…

Injective’s INJ 3.0 upgrade goes live after community passes proposal

AltcoinsJun 5

INJ 3.0 went live on the mainnet today, Injective announced. Injective price rose slightly after the vote, hitting highs of $29.15. Injective (INJ) has announced that the INJ 3.0 upgrade is now live on the mainnet following a historic on-chain vote. According to the layer-one blockchain’s team, IIP-392 passed with the highest percentage of approval for such an upgrade, and Injective is now in a new era. “INJ 3.0 is officially live on mainnet, allowing $INJ to become one of the most deflationary assets in all of crypto. Over the next two years, the supply of INJ will be decreased…

Pepe Meme Coin Secures Listing on Leading Crypto Lender Nexo

ExchangesJun 4

Nexo, a leading crypto exchange and lending platform, has announced the addition of the meme-inspired Pepe (PEPE) token to its offerings. Nexo, a crypto exchange and lending platform, has added the meme-inspired Pepe (PEPE) to its offerings. Inspired by the popular internet meme character, Pepe the Frog, PEPE has been dubbed as “the most memeable memecoin in existence.” .@pepecoineth's $PEPE is now available on Nexo! Let's explore. ⬇️ Dubbed as "the most memeable memecoin in existence," the project draws inspiration from Pepe the Frog, an iconic internet meme character. Built on the Ethereum blockchain, $PEPE operates as an ERC-20 token…

Global Bitcoin ETF Movement Gains Momentum

BitcoinJun 4

Australian and Chinese equity funds are taking bold steps by applying for spot Bitcoin Exchange-Traded Funds (ETFs), signalling a robust interest in digital asset investments across different global markets. Monochrome Asset Management, an Australian financial institution, is set to pioneer Australia’s first spot Bitcoin ETF, aiming for a launch on the Cboe Australia exchange within the next two months. This ETF, applied in July 2023, will be the first in the country to hold physical Bitcoin, offering investors a direct and transparent pathway to investing in the digital currency, akin to similar offerings in the United States. The Australian Securities…

Maple Finance Announces Syrup Protocol; Token Announcement Soon!

DeFiJun 4

1 Maple Finance launched Syrup, a new protocol that provides institutional yield to the DeFi ecosystem. 2 Syrup is intended to unlock institutional yield and reward system, targeting 15% yields in USDC. 3 Both platforms will introduce the SYRUP token soon, permitting MPL holders to shift to the SYRUP token. On Map 28, Maple Finance, a cryptocurrency lending firm announced the launch of Syrup, a new protocol for institutional yield and rewards. Syrup Launch Announcement & Details The launch of Syrup in the crypto market seeks the attention of investors, traders, and crypto enthusiasts. Maple Finance introduced the new protocol…