Author: NBTC

Grayscale’s GBTC saw nearly $600 million in outflows Thursday, its largest single-day redemption since Jan. 22, but inflows into other spot bitcoin ETFs offset the sales. BlackRock’s IBIT had another strong day and surpassed $10 billion assets under management. Outflows from the Grayscale Bitcoin Trust (GBTC) spiked Thursday, but inflows into the other nine U.S.-listed spot bitcoin exchange-traded funds were more than enough to offset the GBTC sales. Data compiled by BitMEX Research shows that GBTC saw $599 million of outflows, almost triple of Wednesday’s redemption and the largest single-day outflow since January 22. Confirming those numbers, Arkham Intelligence showed…

Blackrock, one of the world’s largest asset managers, recently launched the ‘USD Institutional Digital Liquidity Fund’ (BUIDL), which allows investors to earn US dollar returns. The BUILD fund attracted a lot of attention, and after its launch, various meme tokens and NFTs were sent to BUIDL’s wallet. According to Spot on Chain’s post, while altcoins such as DETF, USH and ROI came to the BULD fund, the prices of these altcoins increased by up to 20% due to the effect of the BlackRock wallet. While none of these altcoin transfer transactions were made by BlackRock, the 100 million USDC that…

Floki developers are working on offering regulated digital banking accounts that can be funded with FLOKI tokens and used to transact in USD, EUR, and GBP. The project also includes plans for debit cards and staking services, with accounts being facilitated through a partner licensed in Canada, Spain, Dominica, Australia and the UAE. Floki developers are planning to offer users a regulated digital banking account they can fund using (FLOKI) tokens that transact in dollars, euros and sterling, lead developer B told CoinDesk. The development is part of a broader plan to release debit cards and staking services propelling the…

U.S. presidential candidate Robert F. Kennedy Jr. (RFK Jr.) says cryptocurrency is the “best hedge against inflation.” He stressed that crypto “takes control away from the government and from the monopolistic banking system which uses money printing to shift wealth upward to the oligarchy of billionaires while impoverishing regular Americans.” RFK Jr. Says ‘Crypto Equals Freedom’ U.S. presidential candidate Robert F. Kennedy Jr. (RFK Jr.) reiterated his support for cryptocurrency in a post on social media platform X Thursday. RFK Jr. is a son of former U.S. Attorney General and Senator Robert F. Kennedy and nephew of former U.S. President…

Based on a recent analysis, numerous outdated bitcoin mining devices likely powered up in response to the latest uptick in bitcoin’s value. However, with the anticipated block reward halving, it’s projected that around 100 exahash per second (EH/s) of computing power might be disconnected after the event. Bitcoin Miners Enjoy Revenue Boost, Yet Face Potential Setback With Upcoming Halving As of this moment, Bitcoin’s overall computing power, as measured by the seven-day simple moving average (SMA) on Luxor’s hashrateindex.com, maintains a steady pace at 596 EH/s, having peaked at a historic high of 628 EH/s on March 12, 2024. A…

Bitgo collaborates with Kava Chain to position conventional Wrapped Bitcoin (WBTC) to bring substantial conventional BTC liquidity to Kava ecosystem projects. Kava Chain becomes one of the few Layer 1 networks that Bitgo has associated with. Where the Wrapped Bitcoin is concerned, it is the biggest and most sought-after wrapped BTC asset. Kava Chain becomes similar to Ethereum and Tron because it is a Layer 1 with a conventional USDT and a WBTC incorporation. Following Tether’s selection of KAVA for positioning conventional USDT, Bitgo has formed an association with KAV for positioning WBTC. After that, Binance delivered conventional backing for…

After a short period of diminished onchain network fees, the expense of sending bitcoin has begun climbing once more, hitting a midweek average of 73.3 satoshis per virtual byte (sats/vB) or $11.48 for each transaction. Currently, a backlog of 207 mempool blocks is pending, waiting to process about 134,000 unconfirmed transactions, a situation that has persisted since Nov. 3, 2023. Bitcoin’s Onchain Fees Begin to Rise Again From Feb. 18 to Feb. 25, 2024, the cost for an average onchain transaction on the Bitcoin network was below the $5 threshold, and during this period, the cost for a median-sized transaction…

Backed, a real-world asset tokenization platform, has unveiled a new range of services for tokenization at institutional levels, according to the information shared with Finbold on March 22. The new tokenization platform is designed to empower financial institutions to issue tokenized assets securely and efficiently. Compliance and trust in tokenization Adam Levi, co-founder of Backed, emphasized the importance of compliance and reliability alongside the usual technological innovation in tokenization solutions, stating: “The problem with current tokenization solutions is they are all focused on tech, when in reality, compliance and trust are just as important. We already have tokenized products on…

Billy Markus famous within the crypto community as a co-founder of the largest meme cryptocurrency Dogecoin is a frequent user of social media platforms, especially Twitter/X, usually tweeting in a sarcastic manner or merely publishing memes. Today, he touched on the subject of crypto trading and how profitable this can be. In his earlier tweets, Markus has already many times expressed what he thinks of crypto trading and long-term cryptocurrency investments. Trolling crypto traders on Twitter/X Today, one of the tweets published by Billy Markus features a picture with two monitors and a caption, stating: “My friend was losing money…

The Bitcoin halving could significantly remodel the global cryptocurrency mining landscape. Bloomberg reports that US miners are preparing to decommission and export thousands of older mining rigs. Ethiopia is rapidly becoming a sought-after destination for miners seeking lower electricity costs. Discover how the upcoming Bitcoin halving is fueling a strategic exodus of US-based miners, why Ethiopia is rising as a crypto mining powerhouse, and what this means for the future of Bitcoin. The Bitcoin Halving: Catalyst for Change The Bitcoin halving in 2024 will slash miner block rewards by 50%, impacting profitability. This built-in scarcity mechanism underpins Bitcoin’s value proposition.…