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.

Makes Price Prediction for Ethereum

Some traders are predicting a significant rally following the recent approval of a spot Ethereum ETF in the United States. The options, which are worth approximately $3.4 billion and expire on June 28, indicate an increase in the number of traders purchasing call options. These bullish predictions predict that Ethereum will surpass $4,000. According to TzTok-Chad, anonymous founder of decentralized options exchange Stryke, positioning in derivatives shows that many traders are setting their sights even higher and targeting prices above $5,000. This unexpected reversal from the SEC shifted the focus from Bitcoin to Ethereum among options traders. “While Bitcoin has…

EthereumMay 30

Ethereum breaks $1 billion mark in tokenized US Treasuries

Ethereum is now the infrastructure for over $1 billion in tokenized US Treasuries and dominates nearly 71% of the market share in this blockchain industry sector, according to real-world assets (RWA) data platform RWA.xyz. This number is majorly fuelled by the BlackRock USD Institutional Digital Liquidity Fund (BUIDL), which has tokenized over $473 million in US Treasuries since March 20th, and currently dominates almost 33% of the market. Although having just 13 shareholders, BUIDL is reserved for qualified institutional investors, with a $5 million minimum investment requirement. Caption Sapphire Ondo’s Short-Term US Government Bond Fund comes as the second-largest Ethereum-based…

RegulationMay 30

XT Algo Founder Says Shiba Inu Sees the Future

Founder of popular trading software XT Algo Zach Humphries reacts to reports of Shiba Inu developing a new blockchain solution. Zach Humphries, a notable crypto influencer and founder of crypto trading software XT Algo, has reacted to reports of the ongoing development of Shiba Inu’s privacy-focused Layer-3 (L3) blockchain. In a recent tweet, Humphries expressed enthusiasm about the initiative, emphasizing that he is glad Shiba Inu sees the future of L3 blockchain solutions. This is going to be a Layer 3 blockchain. Yes, it's a thing. I am glad #SHIB sees the future of Layer 3's https://t.co/LGuHZOJzhm — Zach Humphries…

AltcoinsMay 30

Grayscale's Exit from Bitcoin ETFs and Entry into BlackRock ETFs Continues! Here is the Latest Situation in the Bitcoin ETF Market

While Bitcoin (BTC) remains stable and hovers above the $70,800 level, outflows from Grayscale Bitcoin Trust (GBTC) continue their momentum. Bitcoin Haunts Near $71,000 Amid GBTC Outflows According to on-chain data, there was a significant outflow of $124.9 million from GBTC, as opposed to $4.6 million flowing into Fidelity's FBTC and $11.1 million flowing into Bitwise's BITB. The Bitcoin spot ETF with the largest net inflow in a single day was the BlackRock ETF IBIT with a net inflow of $192 million. During the week, all Bitcoin ETFs collectively reported a significant weekly outflow totaling $227.9 million. Market sentiment indicates…

BitcoinMay 30

Stakes Raised for Validators, Smart Contracts Get Smarter

Ethereum core developers are targeting the launch of the Pectra upgrade by the end of the first quarter of 2025. This upgrade encompasses the EVM Object Format (EOF), a suite of approximately 11 Ethereum Improvement Proposals (EIPs), which will introduce an optional container for EVM code. Notably, Pectra, the next phase of the Ethereum network upgrade after Dencun, was initially expected to go live later this year. However, the shift from the previously projected late 2024 timeline is attributed to the inclusion of the EOF. The Pectra upgrade is poised to raise the staking cap for Ethereum validators from 32…

EthereumMay 30

Cathie Wood Says Ether ETF Filings Were Approved Because Crypto Is an Election Issue

Key documents for the proposed ether exchange-traded funds (ETF) were approved suddenly and unexpectedly. The surprise approval and passage of FIT21 in the House indicate how crypto has become an election issue. Ark will not make money from its bitcoin ETF. AUSTIN, TX — ARK Invest CEO Cathie Wood said crypto is now a U.S. election issue, which is why key documents for the proposed ether exchange-traded funds (ETF) were approved suddenly and unexpectedly. "The read was it was not going to be approved. It was absolutely not going to be approved," Wood said on stage at Consensus 2024 in…

RegulationMay 30

Ripple Partner Oceanus Leverages ODL Solutions for Odin Pay in Singapore Elevating Blockchain Solutions

Oceanus partners with Ripple, leveraging ODL for Odin Pay in Singapore. Digitizing trade finance with XRP, Oceanus moves $70 million in 6 months. MAS license obtained, Oceanus targets $1 billion GMV market. Oceanus, a Ripple partner based in Singapore, is making waves with its payment platform, Odin Pay, powered by Ripple’s On-Demand Liquidity (ODL) and XRP. The company’s 2023 annual report sheds light on its performance in the first six months of operation, revealing a staggering $70 million moved through its platform. But what exactly is driving this momentum? 😎Cool to see! Oceanus is a #Ripple partner in Singapore using…

AltcoinsMay 30

Bitcoin (BTC) Is 'Super Cheap' at Current Prices, Adam Back Claims

According to Blockstream CEO Adam Back, Bitcoin (BTC) is "super cheap" at current prices. Back argues that value understanding is lagging due to not being evenly distributed. "The average investor is a bit of a panicked newb, needs to be battle-hardened by a bear market or two before they truly get it." The largest cryptocurrency is currently changing hands at $69,477 after dropping by 0.5%. Post-halving crash? Back's bullish statement came after Jeff Ross, founder and CEO of Vailshire Capital, recently predicted that the price of the flagship cryptocurrency could experience a 40% correction after the halving. "I think we…

BitcoinMay 30

U.S. Treasury Describes NFTs as 'Highly Susceptible to Use in Fraud and Scams'

The risk assessment is the Treasury's first into NFTs as a means of carrying out fraud and other crimes. The Treasury determined that NFT platforms "lack appropriate controls" to combat money laundering and sanctions evasion. The U.S. Treasury Department said non-fungible tokens (NFTs) are "highly susceptible to use in fraud and scams and are subject to theft," in a new risk assessment about illicit finance, its first into NFTs as a means of carrying out fraud and other crime. "The report determines that illicit actors can use NFTs to launder proceeds from predicate crimes, often in combination with other methods…

NFTMay 30

3 Crypto Sectors Ready to Surge Beyond Expectations

Ethereum Layer 2: After ETF approval, expect a surge in tokens like Arbitrum, Optimism, and Mantle. Ethereum Coin Memes: Meme coins like Shiba Inu, Pepecoin, and Floki Inu could experience significant growth. Ethereum Restaking: With ETF endorsement, restaking protocols like EigenLayer promise additional yield for ETH holders. An Ethereum spot ETF has been officially approved, with the price of ETH briefly touching $3,945. With this endorsement, the crypto sector related to Ethereum will potentially experience an appreciation in price. There are 3 crypto sectors that could potentially be impacted by the approval of a spot Ethereum ETF. Ethereum Layer-2 Layer…

EthereumMay 30