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.

Halving excitement pumps ‘worthless’ bitcoin testnet

Blockchains nearly always rely on testnets, kept separate from the ‘mainnet,’ to ensure changes to client software can be introduced safely. Bitcoin has a testnet and this testnet has its own currency, tBTC Of course, tBTC and the entire Bitcoin testnet are supposed to be worthless. However, crypto’s embracing of degeneracy has transformed tBTC into a real, $25 million-and-growing asset backed by approximately one-third the hash rate of Litecoin. Litecoin, a proof-of-work blockchain operating since October 2011, has a hash rate of approximately 1 petahashes per second. Testnet bitcoin has a hash rate around 0.36 petahashes per second. For context,…

BitcoinMay 21

The Avalanche Foundation Unveils the Icebreaker Program

The Avalanche Foundation (AF) is excited to announce the launch of its Icebreaker Program, an ambitious initiative to strengthen the Avalanche ecosystem's growth and resilience by expanding AF’s on-chain activities. This program marks a significant milestone in AF’s journey toward promoting innovation, supporting emerging projects, and becoming a cornerstone of Avalanche’s growing entrepreneurial community. Objectives of the Icebreaker Program The Icebreaker Program has four key objectives: 1. Empowering New Projects: AF aims to assist new and emerging projects in overcoming initial barriers to market entry, providing them with greater support so they can more effectively demonstrate their value proposition and…

AltcoinsMay 21

Bitcoin drops below $60k, traders liquidate $115m in 4 hours

The price of Bitcoin immediately dropped below the $60,000 level as the halving approaches. According to CoinMarketCap data, Bitcoin (BTC) is down more than 3% in price over the past 24 hours, trading at $59,800 when writing. Cryptocurrency trading volumes decreased by almost 12% to $40 billion. CoinGlass data shows that traders are actively liquidating positions. In the last four hours, traders have offloaded over $115 million worth of assets, $96.70 million of which were long positions and the rest short. The largest share of liquidations occurred on the OKX crypto exchange, totaling $43.81 million. You might also like: Crypto.com…

BitcoinMay 21

Ether Price Pumps, But SEC Decisions Could Spoil the Party

Ethereum’s price surged by 5.59% last week, reaching $3,089.25. However, it has experienced a modest decline of 0.56% in the past 24 hours. With a trading volume of $10.95 billion and a market capitalization of $371.1 billion, Ethereum’s market activity is attracting considerable attention. Technical analysis reveals that the Relative Strength Index (RSI) for Ethereum on the weekly chart sits at 55.47. This value indicates a market that is neither oversold nor overbought. Traders are therefore anticipating potential price movements in either direction. This balanced RSI suggests that the market could soon experience increased volatility. Furthermore, the Moving Average Convergence…

EthereumMay 21

Saga Reveals First ‘Power-Level Over 9,000’ Airdrop With $10 Million in Tokens

Saga, a layer-1 blockchain with a focus on gaming, recently built up a ton of hype for its mainnet and token launch by running a play-to-airdrop campaign and rewarding DeFi stakers across various networks. But the incentives don't stop there. Saga is now rolling out its next wave with a colorfully-titled campaign. The “Power-Level Over 9,000” airdrop campaign—named after a “Dragon Ball Z” reference that became an internet meme—was first revealed in April and leans on partnerships with more than 100 projects across various chains, Saga says, including games and other decentralized apps. The campaign will dole out bundles of…

AltcoinsMay 21

BounceBit Opens BBTC and BBUSD Withdrawals Amid Strong Trading Volume

BounceBit has officially opened withdrawals for $BBTC and $BBUSD. BounceBit has confirmed that it is committed to enhancing the user’s experience and securing the reliability of its CeDeFi system. The company’s initiative to unlock withdrawals for users is intended to play an important role in promoting active participation in the inflow and outflow assessment system. A secure inflow and outflow financial ecosystem are only possible with such active membership. Withdrawal of $BBTC and $BBUSD is now available! Visit https://t.co/0Z6EfKzMsA to initiate withdrawal on either @BNBChain or Ethereum. We encourage everyone to try withdrawing, with the aim of evaluating the in-…

ExchangesMay 21

BlackRock extends bitcoin ETF inflows lead as category demand slows

BlackRock continues to attract assets to its bitcoin ETF daily, even as its competitors see inflows into similar funds stall. The asset management giant’s iShares Bitcoin Trust (IBIT) has been a flow-gathering standout since US spot bitcoin ETFs launched on Jan. 11. It so far has tallied more than $15.3 billion of net inflows — ahead of the $8 billion or so notched by the next-best Fidelity Wise Origin Bitcoin Fund (FBTC). Read more: BlackRock bitcoin fund accounts for 20% of the firm’s Q1 ETF net inflows Grayscale Investments’ Bitcoin Trust ETF (GBTC) has kept a slight assets under management…

BitcoinMay 21

ETH Soars Past $3K But Will the Sellers Come Back? (Ethereum Price Analysis)

Ethereum’s price has faced challenges breaking below the critical $3K support region, with a recent bullish rebound driven by heightened demand near this level. However, a substantial resistance region looms ahead, potentially halting the current momentum. By Shayan The Daily Chart An analysis of the daily chart shows that Ethereum sellers have been attempting to push the price below the crucial $3K support region, which aligns with the 0.5 ($3133) and 0.618 ($2906) Fibonacci levels. Despite these efforts, ETH recently experienced a bullish rebound due to significant demand around this key threshold, reaching the upper boundary of a multi-month descending…

EthereumMay 21

Update on Feb. 2023 Neo migration service security breach

Neo has made progress in addressing the security breach that occurred on Feb. 8, 2023, involving unauthorized token transfers from the N3 migration service. As a result, tokens from one of the three addresses used by the attacker have been recovered. The attacker, who surfaced on Feb. 13, 2023 demanding a ransom, verified their involvement by sharing the private key for one of the addresses. Since the breach, Neo Global Development has continued efforts to secure the network and recover lost assets. By April 15, 2024, using the private key provided by the attacker, NGD successfully reversed the unauthorized transactions.…

AltcoinsMay 21

Hidden Road Integrates OKX Nitro Spreads for Arbitrage Strategies

To bolster its institutional trading offerings, popular crypto exchange OKX has announced a collaboration with Hidden Road Partners, a credit network for institutions. The partnership aims to provide Hidden Road's clients with access to OKX's deep liquidity and faster execution of complex trading strategies. As part of the collaboration, OKX will focus on integrating its Nitro Spreads service with Hidden Road's prime brokerage services. Nitro Spreads enables the execution of futures and basis spreads, as well as funding rate arbitrage strategies. The integration is set to offer several advantages to Hidden Road's institutional client base. These benefits include on-demand access…

ExchangesMay 21