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.

India Springs Election Surprise, Sends Equity Market Crashing With Uncertain Implications for Crypto

India's election results are underwhelming for Prime Minister Narendra Modi's ruling party. If Modi is able to persuade his allies to stay, the government will continue, albeit with less power. Crypto was at best a negligible issue for voters and certainly not a political talking point during campaigning in the world's largest democracy. India's voters sprung an election surprise on Prime Minister Narendra Modi's party, awarding it a smaller share than forecast in preliminary results, sending stock markets crashing and likely pushing crypto legislation further into the future. While Modi's Bharatiya Janata Party (BJP) and its allies are poised to…

LegalJun 5

Bitcoin’s Realized Cap Hits Record $540 Billion

According to Glassnode, a leading provider of on-chain and financial metrics, the Realized Cap metric offers a fundamental way to monitor the total USD liquidity held within the Bitcoin asset class. Currently, the Realized Cap has surged to a new all-time high (ATH) value of $540 billion. It marks a significant milestone in the cryptocurrency market. We can employ the fundamental Realized Cap metric to track the cumulative USD liquidity ‘stored’ within the #Bitcoin asset class. Currently, the Realized Cap resides at a new ATH value of $540B, and is increasing at an unprecedented rate of over $79B/month. pic.twitter.com/rw2ridVjHh —…

BitcoinJun 5

Clearpool Announces Results of Epoch Voting for Oracles

Clearpool, a decentralized credit marketplace, has released the results of its latest Oracle voting round, which concluded on May 31, 2024, and the outcomes were implemented as of June 3, 2024. This round saw the participation of 12 Oracles, voting on three critical parameters that will define Clearpool’s interest rate curve for AA-rated borrowers. These parameters include Y0 (interest rate at 0% utilization), Ym (interest rate at Xm, the optimal utilization rate), and Y1 (interest rate at 100% utilization). The Oracles whose votes fell within the selected range were deemed successful and included in the weighted average calculation, while those…

RegulationJun 5

XRP Spikes 6% as Wallets Holding 1M+ Tokens Near Record High

XRP recently spiked by as much as 6% amid the market rebound, with the number of addresses holding at least 1 million tokens inching closer to a record high. The broader market resurgence has provided a platform on which several assets can stage a comeback. XRP is one such asset, having recently recovered from the drop to $0.4235. XRP’s move toward recouping the recent losses saw it rally to a high of $0.5303 on April 20, the day of the Bitcoin halving, before facing consolidation. XRP’s Recent Price Movements However, following a 0.91% drop the following day, XRP engineered a…

AltcoinsJun 5

FTX Might Settle Its $24 Billion IRS Tax Bill for $200 Million

Bankrupt cryptocurrency exchange FTX might be able to settle a $24 million claim from the U.S. Internal Revenue Service (IRS) for $200 million. This settlement is still pending court approval, but would resolve one of the thornier disputes and bigger claims amounting to billions of dollars. FTX, once a prominent player in the cryptocurrency market, filed for Chapter 11 bankruptcy in November 2022 following a dramatic collapse. The company faced a liquidity crisis triggered by a surge in customer withdrawals and revelations of financial mismanagement. At its peak, FTX was the third-largest cryptocurrency exchange globally, but the fallout exposed a…

LegalJun 5

3 Bitcoin Mining Pools Wield 69% of Total Hashrate Discovering 301 Blocks in 72 Hours

Figures reveal that over the preceding 72 hours, three bitcoin mining pools discovered more than 69% of the 436 blocks found during that period. Foundry USA and Antpool, two industry titans, command a formidable 55.5% of Bitcoin’s total computational power. Foundry Dominates Bitcoin Mining in 12-Month Period, Discovers 15,651 Blocks Out of 53,528 In the aftermath of the halving event, the concentration of bitcoin mining pools persists, with the total hashrate dipping below the 600 exahash per second (EH/s) threshold. Data compiled by btc.com reveals that Foundry’s mining pool, boasting 168.05 exahash per second (EH/s) of hashpower, secures a substantial…

MiningJun 5

Institutional Investors Are Flowing Money into Bitcoin (BTC) and These Two Altcoins!

While the leading cryptocurrency Bitcoin has been following a horizontal course in recent weeks, it has been oscillating between $ 67,000 and $ 68,000. While the overall upward expectation in the market continues, Coinshares published its weekly cryptocurrency report. Stating that there was an inflow of 185 million dollars in cryptocurrency investment products last week, Coinshares said that the inflows from the beginning of the year to date have exceeded the limit of 15 billion dollars. Sentiment on Ethereum (ETH) Has Changed! When looking at crypto funds individually, it was seen that the majority of fund inflows were in Bitcoin.…

RegulationJun 5

Stellar CEO’s Ambition for Email-Equivalent Money Movement

The Stellar network recently morphed into a smart contract-enabled layer-one chain to support web3 project development. The Stellar ecosystem is backed by reputable web3 investors, thus bolstering the XLM’s bullish outlook. The Stellar (XLM) network has grown to a mature web3 ecosystem, with more than 81k onramp locations globally. Having issued more than 255 grants in the past two years, the Stellar network has attracted first-class web3 developers. Furthermore, the Stellar network is currently home to dozens of web3 protocols including ZettaBlock, Bank Protocol, Block Daemon, Allbridge, and Validation Cloud, among many others. As Crypto News Flash previously reported, the…

AltcoinsJun 5

House Appropriation budget aims to prevent SEC from implementing SAB 121

An upcoming House Appropriation budget could prevent the US SEC from implementing its controversial Staff Accounting Bulletin 121 (SAB 121). FOX Business reporter Eleanor Terrett, who reported the news on June 4, said the bill will prohibit the SEC from using appropriated funds to implement the rule. Appropriations allow agencies to incur obligations and make payments from the US Treasury for set purposes. One policy rider in the budget states: “Prohibits the SEC from implementing or enforcing Staff Accounting Bulletin No. 121, which implements harmful digital asset requirements.” It is unclear whether the budget will succeed in its current form.…

LegalJun 5

OneTo11 announces global expansion with new games & educational P2E model

OneTo11, a blockchain gaming start-up, has announced its plans to expand its offerings to two crucial markets across the world – LATAM and MENA. It will do so by adding 3 new games to the portfolio with a tentative timeline of the next 12 months. Established in 2021, the blockchain gaming platform has been quick to grow with a broad user base of 4.5 million registered users and more than 7.3 lakh monthly active gamers. These are spread in 168 countries and fall within the age of 18-55 years. The company is additionally planning to develop educational technology products. These…

BlockchainJun 5