Author: NBTC

TON Foundation distributed 300,000 Toncoin to active meme coin traders. The Open Network project airdropped Toncoins (TON) worth around $2.19 million to the most active meme coin traders on DeDust and Ston.fi platforms. Meme coin traders who made transactions on DeDust and Ston.fi between March 4 and April 10 were eligible for the airdrop. Users also had to trade whitelisted meme coins on the network to amass points, a fast-rising reward system. 4/ Trading volume points breakdown:– <$2,700: 0 points– $2,700-$4,999: 1 point– $5,000-$9,999: 2 points– $10,000-$24,999: 3 points– >$24,999: 4 points — TON 💎 (@ton_blockchain) April 11, 2024 According…

“It’s officially Fed week, the week we’ve all been waiting for,” exclaimed macroeconomics outlet The Kobeissi Letter on March 17. The US Central Bank will make its highly anticipated announcement on March 20, which will set the tone for the US’s economic outlook going forward. Key Events This Week: 1. Housing Starts data – Tuesday 2. Fed Interest Rate Decision – Wednesday 3. Fed Press Conference – Wednesday 4. Philly Fed Manufacturing Index – Thursday 5. Existing Home Sales data – Thursday 6. Fed Chair Powell Speaks – Friday It’s officially Fed… — The Kobeissi Letter (@KobeissiLetter) March 17, 2024…

The latest stablecoin hype train is underway in the form of Ethena (USDe), and Bitwise President Teddy Fusaro is taking an interest. In an April 10 Twitter thread reviewing the protocol’s mechanics, Fusaro noted that USDe “may be the fastest-growing USD-denominated asset in the history of crypto.” Bitwise Examines Ethena (USDe) “USDe operates v similarly to an ETF,” he wrote. Bitwise itself owns many crypto funds, including a new and popular Bitcoin spot ETF, though it has no investments in Ethena. On Amtrak to Boston. Had a min to look at Ethena & USDe which may be the fastest-growing USD-denominated…

Bitcoin (BTC) is witnessing substantial profit-taking activities, particularly from its short-term holders. The digital currency, which is currently trading at $68,740.53, has shown remarkable resilience and growth over the past months. However, on-chain data and market analysis indicate a notable trend of profit-taking among investors who have held BTC for less than five months, according to CryptoQuant data. The Spent Output Profit Ratio (SOPR) has indicated a significant movement that parallels profit-taking trends observed during the peaks of past bull markets. Short-term investors capitalize on gains The analysis of the SOPR metric reveals that short-term BTC holders have been actively…

Ondo Finance unveils seamless conversion between BlackRock’s BUIDL token and Circle’s USDC stablecoin. The innovation marks a significant step towards increased liquidity for tokenized traditional assets. “We are using it to power instant 24/7/365 redemptions of OUSG into USDC,” says Ondo Finance CEO Nathan Allman. Ondo Finance (ONDO) jumps after successful test of BlackRock’s tokenized fund to USDC conversion. This feature boosts liquidity and offers potential for exciting developments in crypto-powered traditional finance. Ondo Finance Leverages Circle’s Innovation for Instant Conversions Innovations in the crypto space are pushing boundaries, demonstrated by Ondo Finance’s use of Circle’s new smart contract function.…

Queensland’s Crime and Corruption Commission (CCC) has identified gaps in state laws that inadvertently encourage criminal use of digital assets, prompting the agency to propose a modernization of Queensland’s asset confiscation laws. In a 54-page report, the CCC expressed concerns about the effectiveness of Queensland’s Criminal Proceeds Confiscation Act 2002 (CPCA) in seizing cryptocurrencies linked to organized crimes, such as money laundering. In response, the commission called for significant reforms to the act, with a focus on achieving seven priority outcomes, three of which directly address the need for the effective seizure of digital assets. The CCC highlighted the increasing…

Bitcoin’s volatility persists amid mixed signals, leaving investors cautious. Daily transaction volume hits the highest point since 2022, signaling blockchain activity surge. Bitcoin’s recent tumultuous journey has left investors and market enthusiasts on edge as the cryptocurrency experiences unprecedented highs and worrying dips. After reaching an all-time high of over $73,500 earlier this month, Bitcoin’s rapid ascent was matched by an equally swift descent, plunging below the $65,000 mark. Presently, it hovers around $68,517, showing a modest uptick of 3%. However, the trading volume paints a less optimistic picture, witnessing an 8.7% decline to $44 billion. Despite this, Bitcoin’s daily…

Ethena Labs’ USDe stablecoin provides a yield through a tokenized cash-and-carry trade. Counterparty risk and a funding-rates reversal are two of the protocol’s main challenges. Ethena founder Guy Young labeled comparisons with Terra’s failed UST as a “weak, surface-level argument.” Ethena Labs, a decentralized protocol centered on the yield-bearing USDe stablecoin, has polarized crypto traders in the weeks since introducing the token to the public in February over similarities to the Terra ecosystem, which imploded in 2021. People who stake USDe for a minimum of seven days currently earn an annualized yield of about 37%, high enough to spur total…

Binance is “working as collaboratively as we can” with the Nigerian government to secure the release of its jailed financial crimes investigations chief, Tigran Gambaryan, the exchange’s chief compliance officer Noah Perlman said Wednesday. Gambaryan, a former IRS special agent who pivoted to Binance in 2021, pleaded not guilty this week to committing money laundering, tax evasion and manipulating the price of Nigeria’s currency. He was in the country at the Nigerian government’s invitation, Perlman said. Speaking at a cybersecurity conference held by Chainalysis, Perlman said he was “optimistic” Binance could reach a resolution with the Nigerian government that would…

Over the weekend, Bitcoin fluctuated and fell as low as $64,500, sparking fear among investors. While Bitcoin’s Decline Ended, Memecoins Increased However, Singapore-based QCP Capital noted in a Telegram post that BTC quickly rebounded above $67,000, indicating that the heavy selling had dissipated and a willingness among investors to “buy the dip”. Recent economic data from the United States highlighting persistent inflation has fueled expectations of higher interest rates and a strengthening dollar, conditions that typically present challenges for risky assets such as cryptocurrencies. As BTC navigated these dynamics, the memecoin sector gained attention over the weekend, with a significant…