Author: NBTC

On-chain analytical platform Spot On Chain reveals that crypto whales have channeled $35.11 million in stablecoins into Ethereum (ETH), propelling its price past $3,400. These crypto whales’ activities will potentially carve the path for Ethereum’s forthcoming price action. How Crypto Whales’ Activities Established a Strong Support For ETH Price A closer look at the transactions reveals a strategic play. Eight crypto wallets, likely under a single entity’s control, deployed $20.86 million in USDT to purchase 6,144 ETH, averaging a price of $3,395. “Notably, five wallets labeled “Address Group 1” were funded with USDT by wallet 0x065 while those from “Address…

BCB has moved its custody operations to Ripple-owned Metaco’s platform. The move will allow the payments firm to consolidate its custody technology. BCB provides crypto payments and trading services for clients, including Galaxy Digital and Gemini. Metaco, a Swiss crypto custody firm owned by Ripple, said BCB Group, a crypto payments firm, consolidated governance of its digital asset custody operations onto its flagship platform. London-based BCB Group, having migrated its operations from a third-party digital asset technology provider, is now using Metaco’s custody orchestration platform, the companies said in a statement. The move allows the payments firm to consolidate its…

Stablecoin issuer Circle is enhancing liquidity on Solana through the forthcoming launch of its Cross-Chain Transfer Protocol (CCTP) on the network. This protocol enables users to seamlessly transfer USDC across supported blockchain networks by burning and minting the stablecoin. CCTP operates on seven networks: Ethereum, Avalanche, Base, Noble, Arbitrum, OP Mainnet, and Polygon PoS. CCTP to Boost Solana Stablecoin Liquidity Circle has unveiled a pre-mint address allowing CCTP to mint USDC on Solana before the March 26 launch. This strategic move empowers Circle to establish and maintain a USDC balance on Solana. However, the pre-minted tokens await inclusion in the…

In line with the pursuit to improve its digital economy, South Korea has announced plans to equip its citizens with artificial intelligence (AI), quantum computing, and blockchain technology skills. The Ministry of Science and ICT (MSIT) said the plan to introduce digital skills will span five years and is geared toward deepening the talent pool. The “Comprehensive Plan to Nurture Digital Talent” is South Korea’s ace to catch up with other competing jurisdictions for emerging technologies. Presently, South Korea has around 99,000 individuals with digital skills, but several researchers predict a spike in the demand for digital talent. The demand…

Bitcoin slightly rebounded after dipping over 15% from last week’s record as investors trimmed risks. Wednesday’s Fed decision poses a risk for crypto asset prices, with concerns over a less investor-friendly stance due to strong U.S. economic data and sticky inflation, LMAX Group market strategist said. Bitcoin (BTC) price rebounded to near $65,000 from its overnight lows on Tuesday, but the upcoming Federal Reserve meeting concluding on Wednesday is looming large over the crypto market to decide whether the correction is over. After notching a series of fresh all-time highs over the past weeks, the largest crypto by market capitalization…

Renowned veteran trader Peter Brandt has once again shifted his focus to the Ethereum vs. Bitcoin chart, offering intriguing insights into recent developments. This move comes after Brandt’s previous scathing remarks about ETH, labeling it a “junk coin” and its holders as “Etheridiots.” However, amid Ethereum’s recent plunge to its lowest point against Bitcoin in nearly three years, the trader’s perspective appears to have taken a different turn. Examining the Ethereum-to-BTC chart, Brandt hinted at the possibility of a bear trap. He pointed out that whenever a price hits a new 35-month low, there is a potential for a bear…

Stablecoins are being adopted for cross-border settlements, Bernstein said. There have been signs of early adoption by payment firms such as Paypal and Visa, the broker said. Stablecoin supply is growing, the report noted. The stablecoin market is growing and these cryptocurrencies are being adopted for cross-border settlements with payments firms, fintech companies and consumer platforms among the early users, broker Bernstein said in a research report on Tuesday. Bernstein notes that stablecoin supply currently stands at $150 billion, with tether (USDT) and USD Coin (USDC) dominating the market with shares of 75% and 22% respectively. A stablecoin is a…

A massive transfer of wealth from baby boomers to their brethren is underway, but a look at the numbers shows many people will not receive what they expect. The “overwhelming” cost of health care will drain the majority of boomers’ wealth before it can be handed over to Gen Xers and Millennials, according to an analysis from CNBC. Front and center is a report from Fidelity that estimates how much individuals need to have saved to pay for their medical costs. The report finds single people who turned 65 years-old in 2023 may need about $157,500 saved after taxes to…

Binance has published its updated Proof-of-Reserve (PoR) report for March 2024, boasting a holding of 67.67 trillion Shiba Inu (SHIB) tokens. The report showed that the exchange held billions of dollars’ worth of crypto assets, including Shiba Inu (SHIB), at the time of the audit on April 1, 2024, at 00:00 (UTC). Binance’s Shiba Inu Holdings It is worth noting that the exchange’s Shiba Inu reserve exceeds users’ deposits by 3.59%. According to the data, while Binance customers’ net balance stood at 65,321,321,452,095.36 (65.32 trillion) tokens, the exchange boasts a reserve of 67,670,462,296,521 (67.67 trillion) SHIB. This indicates that Binance…

BitGo, a leading digital asset custody service provider, has broadened its offerings by integrating support for Arbitrum’s native ERC-20 governance token, ARB. This update enables BitGo’s clients to manage ARB across a variety of wallet options, including Hot, Custodial, and Self-Managed Cold wallets, marking a significant step forward in the accessibility and management of ARB tokens. Arbitrum’s Role in Scaling Ethereum Arbitrum stands at the forefront of Layer 2 (L2) solutions, aimed at propelling the ecosystem forward by addressing some of its most pressing challenges: scalability, speed, and cost. As a Layer 2 technology, Arbitrum’s primary mission is to enhance…