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.

REZ tokenomics statement on Binance depegs Renzo's ezETH 18.3%

The fall of the Renzo restaking token was within minutes before its ultimate recovery, and it trades below ether as of now. This trend is probably due to the user’s intention to exit ezETH after getting an idea about Renzo restaking token’s totally confusing distribution plan. Some crypto experts point out that the fall of ezETH is around $700, and the token entered its recovery phase after the depeg. The ezETH token dropped 5.6% within the past twenty-four hours to trade hands at 12:40 PM Eastern Standard Time. ezETH is a LRT (Liquid Restaking Token) from Renzo, the liquid restaking…

AltcoinsJun 1

Bitcoin is Pricing in Two Fed Rate Cuts For 2024, Trader Says

Bitcoin remains above $70K as Asia begins its trading day One trader told CoinDesk that its too early to tell if slowing GBTC outflows will be a positive sign for bitcoin's price Bitcoin (BTC) looks to extend Wednesday's gain, trading near $70,800 while ether {{ETH}} changed hands above $3,500 as the market continues to digest a higher-than-expected U.S. CPI and slowing outflows from the Grayscale Bitcoin Trust (GBTC). "Bitcoin exhibited strength against a hawkish CPI report and strong inflation data seeing only a retracement back down to $67,000 following the fed minutes announcement," Semir Gabeljic, director of Capital Formation at…

BitcoinJun 1

Ethereum Leads as Market Declines by 7.03%

Over the past week, non-fungible token (NFT) sales have declined again, slipping 7.03% compared to the previous week. During this period, $122.3 million in sales were recorded, with Ethereum-based NFTs taking the lead. 7-Day NFT Sales Slide 7.03% This week witnessed another seven days of subdued NFT sales, with Ethereum maintaining the lead and Bitcoin following in second place. Sales dropped 7.03% compared to the previous week, totaling $122.3 million between May 25 and June 1, 2024. The highest-priced NFT sold this week was from the Ethereum blockchain’s Azuki collection. Azuki #3,374 fetched $393,112 five days ago, claiming the top…

NFTJun 1

$18 Billion in Crypto Moves to New Risky Re-Staking Platforms

More than $18 billion worth of cryptocurrency has shifted to a new platform type offering rewards for locking up tokens, a scheme that analysts warn poses significant risks for users and the broader crypto market. The increasing popularity of "re-staking" highlights the rising risk appetite in crypto markets as prices surge and traders chase higher yields. Bitcoin, the leading cryptocurrency, is nearing all-time highs, while ether, the second largest, has risen over 60% this year. At the forefront of the re-staking trend is Seattle-based startup EigenLayer. The company, which secured $100 million in February from US venture capital firm Andreessen…

RegulationJun 1

Filecoin unveils nv22 Dragon Upgrade

In a recent post on x, Filecoin announced that their network upgrade has been completed. The post read, “We’re thrilled to announce that the Filecoin network upgrade has been completed! Version 22 Dragon is live and running smoothly. Thank you to all node operators for your cooperation and support during this process.” This groundbreaking upgrade, the culmination of months of research and development efforts, is poised to unlock new possibilities for Filecoin users and miners, cementing its position as a leading force in the decentralized storage ecosystem. The nv22 Dragon Upgrade introduces various innovative features and enhancements designed to address…

AltcoinsJun 1

Bitcoin (BTC) Price Will Reach $2.3 Million

Robert Kiyosaki, the author of "Rich Dad, Poor Dad," has endorsed the uber-bullish price prediction made by Ark Invest founder Cathie Wood in a recent post on the X social media network. Ark forecasted that the price of the largest cryptocurrency could skyrocket to $2.3 million in its annual "Big Ideas" research report. The famous investment management firm estimated that the value of the global investment base is roughly $250 trillion. The flagship cryptocurrency would need a 19.4% allocation in order to be able to reach the aforementioned price target. As reported by U.Today, Wood recently upped the ante by…

BitcoinJun 1

Beijing asks WeChat to lower its mobile payment share amid digital yuan pilot

China’s regulators have asked Tencent Holdings to lower the mobile payment market share of WeChat just a few weeks after Beijing started the digital yuan pilot in Hong Kong. Tencent Holdings is reportedly under pressure from Chinese regulators as Beijing is asking the tech giant to reduce the mobile payment market share of its WeChat app, Nikkei reports, citing three sources familiar with the matter. The request is understood to primarily target the market share for in-person payments made via QR codes rather than online shopping. Although the precise numerical targets for WeChat Pay’s market share reduction remain unspecified, a…

RegulationJun 1

Tether Opens Job Positions for Artificial Intelligence Experts to Improve Privacy

Tether, the top stablecoin issuer, has recently announced significant job postings for eligible tech personnel. Paolo Ardoino, the chief executive officer of Tether, disclosed the news, saying that the company requires artificial intelligence experts to enhance privacy. On his official account on X, the executive revealed the platform’s attention to local models concerning privacy. Tether is hiring AI experts to form an highly funded team and focus on local privacy preserving models. And with our access to thousands of GPUs, we can make the difference. Unstoppable TogETHER.https://t.co/iGu2UPPN99 pic.twitter.com/kxHkcxwxxR — Paolo Ardoino 🍐 (@paoloardoino) April 25, 2024 Tether Invites AI Tech…

AltcoinsJun 1

Bitcoin Indicator That’s Preceded Past Breakouts Suggesting ‘Very Very Bullish’ Phase Ahead, Says Kevin Svenson

Cryptocurrency analyst and trader Kevin Svenson is expressing bullish sentiment on Bitcoin (BTC) ahead of the halvening. Svenson tells his 75,000 YouTube subscribers that the Relative Strength Index (RSI) indicator is confirming the end of a bearish trend for Bitcoin on the daily chart. The RSI indicator is a momentum oscillator whose values range from 0 to 100 and is primarily used to determine oversold or overbought conditions in the market. “The daily RSI is now showing a breakout. We have broken the downtrend as well. So this RSI downtrend line breakout lines up with our resistance trend line breakout.…

BitcoinJun 1

Insights from Bitcoin Seoul 2024

South Korea’s virtual asset industry is poised for significant growth, said Cho Jin-seok, the CEO of CODA, at the recent Bitcoin Seoul 2024 event. Cho believes 2024 will be a pivotal year, fueled by factors like the strengthening of Bitcoin’s position and potential regulatory shifts. While acknowledging the current challenges caused by strict regulations, Cho pointed to positive signals like the global trend towards Bitcoin spot ETFs and a more favorable U.S. political climate. He expressed hope that the implementation of the Virtual Asset User Protection Act in July will lead to a more streamlined and investor-friendly environment. Cho emphasized…

RegulationJun 1