Author: NBTC

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…

The overall proportion of total illicit crypto funds is shrinking by 9% on a year-on-year basis, although bad actors still handled over $34 billion in 2023. The total volume of illicit crypto funds decreased by nearly one-third in 2023, according to research done by TRM Labs. The findings reveal that the volume fell from $49.5 billion in 2022 to $34.8 billion in 2023. The San Francisco-headquartered blockchain forensics firm noted that the decline outpaced the 22% reduction “seen in the overall cryptocurrency transaction volume during the same period.” In addition to the overall decrease, the total value of funds sent…

Panos Mekras, the co-founder of Anodos Finance, recently unveiled facts about the XRP Ledger (XRPL) AMM that network participants should consider before using it. The disclosure comes at an opportune time, as the XRPL community recently reactivated the AMM functionality following the implementation of an amendment fix to an earlier issue encountered by the feature. Notably, with this fix, AMM pools are now operational, and trading has resumed. Notably, following the fix, the number of AMM pools on the XRP Ledger has increased to 259, according to data from XRPScan. In addition, the total XRP locked across these AMM pools…

Senator Kirsten Gillibrand has announced plans to introduce a new bill focusing on stablecoins, signaling a significant step forward in regulating cryptocurrency markets. The New Stablecoin Bill is Expected to be Introduced in the Senate This Week Speaking at the Bitcoin Policy Summit held at the National Press Club in Washington, Senator Gillibrand announced that negotiations are continuing and that she and Senator Cynthia Lummis expect to introduce the bill this week or next week. The proposed legislation aims to address concerns surrounding stablecoins while encouraging innovation and growth in the crypto industry. Senator Gillibrand emphasized the importance of unlocking…

A widely followed economist believes Bitcoin is far from witnessing the full impact of the recently approved spot market BTC exchange-traded funds (ETFs). In a new interview on the 1000x Podcast, Alex Krüger elaborates on the inner workings of an ETF product and explains why he believes it’s still early days for the Bitcoin bull market. “The reason why we’re early is that the institutional sales machine is not yet fully deployed. According to some estimates, it’s deployed up to 20% only, and they’re basically looking to ramp it up big time into year-end. What does that mean, the sales…

BlackRock, Inc., the global investment management corporation, announced its financial results for the first quarter of 2024, showcasing robust performance that surpassed analysts’ expectations. The company reported significant milestones across various metrics, reflecting its continued growth momentum and strategic initiatives. BlackRock net inflows at $76 billion One of the key highlights of the quarter was the impressive $76 billion in quarterly long-term net inflows, indicating the enduring strength of BlackRock’s diverse platform. These inflows were characterized by positive flows across different asset classes and client types. Additionally, there were $57 billion in quarterly total net inflows, with seasonal outflows from…

Shiba Inu has secured another significant collaboration, teaming up with the Content Delivery and Security Association (CDSA) to address AI-driven content challenges through Shibarium. The Shiba Inu ecosystem team disclosed this latest move via an official blog post yesterday, April 11. Shiba Inu’s marketing specialist, Lucie, called attention to the development in a recent post on X. Shiba Inu Joins CDSA, to Explore Use of Blockchain Tech In Media and Entertainment Industry – Daily Shib https://t.co/ETDooU55Gs — 𝐋𝐔𝐂𝐈𝐄 | SHIB.IO 🧜🏼‍♀️ (@LucieSHIB) April 11, 2024 CDSA and Shiba Inu aim to leverage blockchain’s security measures within the media and entertainment…