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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.

“As Bitcoin Corrected, Investors Turned to Ethereum and These ETH-Based Altcoins!” Money is Flowing into These Altcoins!”

While there have been sharp volatile movements in the leading cryptocurrency Bitcoin and altcoins since the weekend, the BTC price fell below $ 62,000 during the day. While the bloodbath in Bitcoin and altcoins continues, according to Coinglass data, 109,097 investors became liquid in the last 24 hours, while $327 million in leveraged positions were liquidated. While there were sharp ups and downs in the market, on-chain data tracking platform Nansen announced the most purchased cryptocurrencies in the last 24 hours. According to Nansen data, while Bitcoin and altcoins showed fluctuating movements, whales turned to Ethereum and ETH-based altcoins. Accordingly,…

Bitcoin

BONK surpasses Floki inu to become fifth largest memecoin

Solana-based meme coins Bonk Inu (BONK) has surpassed Floki Inu (FLOKI) in market capitalization, becoming the fifth-largest meme coin. The cryptocurrency market has undergone a correction in recent weeks, with leading digital assets like Bitcoin (BTC), Ethereum (ETH), Solana (SOL), Dogecoin (DOGE), and others experiencing significant price drops. While the majority of meme coins are in decline, there are a few exceptions. For instance, Bonk Inu (BONK) has seen an increase of nearly 55% over the last two weeks, according to CoinMarketCap data. BONK 24-hour price chart | Source: CoinMarketCap Its market valuation has risen to $1.47 billion, overtaking Floki…

Altcoins

Biden Administration seeks China-style CBDCs, warns US Congressman

The Biden administration’s efforts to develop a central bank digital currency (CBDC) have come under scrutiny as Congressman Tom Emmer warns of the potential dangers to American values and privacy. In a speech to the House of Representatives, Emmer expressed concern that the administration is “itching to trade Americans’ right to privacy for a CCP-style surveillance tool.” Emmer emphasized that CBDCs are vastly different from decentralized digital assets like Bitcoin. “Unlike decentralized digital assets such as Bitcoin, CBDCs are a digital form of sovereign currency designed, issued, and monitored by the federal government,” Emmer explained. He fears that if not…

Legal

Northern Data’s Peak Mining Acquires Second 300-Megawatt Site in Texas

According to Peak Mining, a subsidiary of the German bitcoin mining and infrastructure firm Northern Data, the company has announced the purchase of a 300-megawatt ERCOT-approved site in Corpus Christi, Texas. The site is adjacent to another location acquired by the firm in December 2023. Peak Mining Purchases ERCOT-Approved Texas Site Northern Data’s Peak Mining revealed the acquisition of a new Texas location featuring a 300-megawatt (MW) ERCOT-approved interconnect. Peak announced on Friday that construction is in progress and the site is expected to be operational by early 2025. The announcement highlights the deployment of indoor, custom-designed, fully-integrated, and liquid-cooled…

Mining

Bitcoin to Become Store of Value by 2026, Says Anthony Scaramucci

There are many misconceptions about Bitcoin (BTC), especially as it relates to its role in the broader financial ecosystem. Recently, a question from CNBC’s Squawk Box Host Andrew Ross Sorkin was posed to the broader community. The question probes the justifications why Bitcoin fell over the weekend despite claims of it being an inflation hedge and store of value. Responding to the question, Bitcoin bull Anthony Scaramucci said BTC is neither an inflation hedge nor is it a store of value - yet. He believes the level of global adoption of the coin is low for now, and things will…

Bitcoin

What to Expect for ETH and Overall Crypto Prices if Ethereum Spot ETFs are Approved? 7 Analysts Weigh In

Ethereum, the world's second largest cryptocurrency by market value, has seen a significant rise this week. The rise was due to SEC-sourced information that these ETFs would likely be approved, while the desperate wait for Ethereum Spot ETFs continued. Asset manager VanEck has the first Ethereum ETF application, which the Securities and Exchange Commission (SEC) is expected to rule on May 23. Here's what seven experts say about the potential results: Galaxy Digital CEO Mike Novogratz believes that a “widespread” shift in Washington over the last 24 hours has significantly changed the Ethereum ETF landscape. If the SEC's change of…

Ethereum

VeChain (VET) Pioneers On-Chain Sports Integration: UFC, Racing, and Beyond

VeChain’s partnership with UFC is not just a branding move; it’s a leap into the future of sports tech, with the latest UFC gloves containing chips powered by VeChain that provide immutable records. The network’s partnership with Gresini Racing allowed the Italian MotoGP team to deploy the first NFT marketplace powered by VeChain’s marketplace-as-a-service. VeChain has been pushing into the sports world, signing historic partnerships with some of the biggest entities in various sports. While some have dismissed these partnerships as a branding gimmick, VeChain is going beyond the marketing and offering blockchain-powered products that are changing these sports. One…

Altcoins

Gensler Must Answer for Prometheum, ‘Regulatory Uncertainty’ on Ethereum, Lawmakers Say

Republican lawmakers once again raised eyebrows over the controversial crypto firm Prometheum, demanding clarity from the U.S. Securities and Exchange Commission (SEC) on Wednesday over how the firm will comply with a novel framework from the agency. The SEC introduced a framework for so-called special purpose broker-dealers (SPBDs) in 2020, and the designation allows firms to facilitate the trading of digital asset securities. Though it has not fully realized that vision yet, Prometheum is one of the sole firms to receive such a registration. In a letter signed by House Financial Services Committee Chairman Patrick McHenry (R-SC), Rep. Bill Huizenga…

Legal

Kenya Partners With Marathon To Monetize Underused Energy By Mining

Kenya has signed a deal with Bitcoin miner Marathon Digital Holdings to monetize the country's underutilized energy resources. This partnership, announced by Marathon's CEO Fred Thiel on X, marks a significant step towards leveraging Kenya's surplus energy for Bitcoin mining and technological development. Signed! Kenya and @MarathonDH sign a historic deal for monetizing underutilized energy across Kenya and jointly developing technology projects. pic.twitter.com/d4Zh9o8MGI — Fred Thiel (@fgthiel) May 24, 2024 "Kenya has a special spot in the history of digital currencies as it is the home of M-PESA, which in 2007 was one of the first ways for people in…

Mining

SEC should let VanEck launch its ether ETF first, firm exec says

VanEck crypto research head Matthew Sigel has a message for the Securities and Exchange Commission: Let the first firm to file for an ether ETF be the first to launch. That would be (you guessed it) VanEck. A New York-based fund group that manages roughly $100 billion in assets, VanEck first filed to launch a spot ether ETF in the US in 2021. It re-upped its bid to launch such a product in September 2023. The SEC’s 240-day period to rule on the fund expires on May 23, a day ahead of the agency’s deadline to rule on a similar…

Ethereum