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.

US Lawmakers press Biden administration on use of crypto to evade sanctions

April 29 (Reuters) - Two lawmakers are pressing the Biden administration on the use of cryptocurrency to evade sanctions in Russia, Iran and North Korea, asking officials what additional authorities might be needed to prevent digital assets, such as stablecoin Tether from being used by sanctioned entities in Russia and elsewhere. WHY IT'S IMPORTANT The letter sent on Sunday by U.S. Senators, Democrat Elizabeth Warren and Republican Roger Marshall, to officials including Treasury Secretary Janet Yellen and Defense Secretary Lloyd Austin show increasing scrutiny on how cryptocurrencies could be used to circumvent sanctions. CONTEXT Warren and Marshall raised particular concern…

RegulationApr 30

Single Entity Controls Nearly Half of Network Hashrate

TL;DR Increasing Centralization in Bitcoin Mining: Recent studies have raised concerns about the growing centralization of Bitcoin mining, with one entity controlling nearly 47% of the network hashrate. This trend towards oligopoly is driven by changes in reward distribution by mining pools. Economic Implications of Centralization: The BitMEX Research team created a model to examine the potential economic effects of this concentration. The model suggests that only around $20 million of capital might be required for variance-smoothing operations. Risks of Centralized Authority: The dominance of nearly half of the network’s hashrate by a single entity not only challenges the decentralization…

MiningApr 30

Alephium Joins Mises Browser via Blockflow DAO Partnership

Alephium, a notable player in the Layer 1 blockchain sector, has officially integrated with Mises Browser, enhancing user access to its native wallet features. Blockflow DAO, Alephium’s first community-driven decentralised autonomous organisation, has facilitated this integration. Thanks @Blockflow_DAO! Welcome @Mises001! https://t.co/OZEnxrMZnp — Alephium (@alephium) April 30, 2024 Alephium stands out by avoiding typical compromises in the blockchain industry, providing a combination of scalability, expressivity, robust security, and decentralization. This approach ensures that Alephium users enjoy a high-performing network without sacrificing user experience or safety. A Look at Mises Browser The Mises Browser is recognized as the world’s first fast, secure,…

BlockchainApr 30

Ethereum transaction fees overtake Bitcoin as Runes speculation subsides

Quick Take In the week preceding the much-anticipated Bitcoin halving on April 20, transaction fees for Bitcoin exceeded those of Ethereum; this trend persisted until April 27, according to Glassnode data. CryptoSlate meticulously tracked fee trends across both blockchains before, during, and after the halving. Data unveiled a notable but temporary spike in Bitcoin fees, fueled by speculative activity surrounding Runes. However, by April 28, Ethereum fees had slightly outpaced Bitcoin, hitting $3,339 million compared to $3,315 million for Bitcoin. Bitcoin’s 7-day average fees remained elevated at around $11.8 million, according to Cryptofees. The mempool.space platform, which tracks Bitcoin transaction…

BitcoinApr 30

Liquid Restaking Protocol Renzo Airdrops REZ Token, Debuts at $289M Market Cap

Renzo has allocated 32% of the total tokens to the community. The protocol tweeted that the token was not yet available on decentralized exchanges, however Dextools data shows the token is being traded on Uniswap. 50% of the tokens accumulated by users with more than 500,000 ezPoints are subject to a three-month vesting period. Liquid restaking protocol Renzo has opened airdrop claims for its native token (REZ), which has debuted at a $289 million market cap, according to CoinMarketCap. The initial circulating supply of REZ is 1.15 billion, with the remaining 8.85 billion tokens remaining locked up until various criteria…

DeFiApr 30

what’s next for the market?

Amid Yuga Labs’ restructuring, how are investors and collectors reacting to the changing situation of the NFT market? Yuga Labs, the company behind the immensely popular Bored Ape Yacht Club (BAYC) NFT collection, is undergoing a restructuring effort. This move comes amid a challenging period for the company, marked by a sharp decline in the value of its flagship NFTs and the need to realign its strategic focus. CEO Greg Solano recently shared a candid message on X, acknowledging the company’s struggles and outlining a path forward. gm, really tough day today. I am hellbent on transforming yuga and getting…

NFTApr 30

XRPL Xahau Sidechain Activates Crucial Amendment, Hits Major Decentralization Milestone

With the hotly-anticipated REMIT upgrade being activated, Xahau sidechain customers are able to leverage a novel payment transactor and send value over the chain in a resource-optimized manner. XRPL's sidechain Xahau welcomes Atomic Multi-Asset Payments Today, March 31, 2024, XRPL's Xahau sidechain activated the REMIT upgrade. At its core, it allows the expanding of the XLS-55d proposal for XRPL-like networks to Xahau. Xahau amendment REMIT is live So many waiting for this So what is Remit pic.twitter.com/EOEzN7yslK — onledger.net (@offledger) March 30, 2024 Most importantly, this upgrade paves the path for sending multiple currencies and tokens atomically to a specified…

AltcoinsApr 30

MoJ and prosecution promote ‘Virtual Asset Joint Fund’ formalization

The emergence of virtual assets has altered the financial landscape, necessitating heightened efforts to prevent crimes like money laundering. The Ministry of Justice and the prosecution are supporting the formation of a Virtual Asset Joint Investigation Team by the Seoul Southern District Prosecutors’ Office to enhance investigative skills. On April 5, Mr. Han, the CEO of a virtual asset (coin) issuer, was transferred to the trial on charges that he conspired with a professional market manipulation firm called ‘John Berkim’ to steal 21.6 billion won from investors. Mr. Han launched and listed “Grape,” a worthless “scam” coin, in December 2020.…

RegulationApr 30

SSV.Network Partners with Ether.Fi for Revolutionary Staking Advancement

SSV.Network, the trailblazing decentralization project, announces its partnership with Ether.Fi. The partnership with Ether.Fi is a revolutionary advancement for the entire staking system as SSV’s Distributed Validator Technology will be injected into the latter’s platform, allowing stakers to experience decentralization and trust at new heights. SSV and Ether.Fi Boost Total Value Locked (TVL) to $2 Billion The new SSV’s DVT integration will add much-needed user diversification and fault findings capability to Ehter.Fi restaking platform. The integration opens new capabilities for ETH security, as Ether.Fi now has access to the high TT NOS tuned nodes from SSV’s world network. The collaboration…

BlockchainApr 30

Recent Bitcoin Market Trends Highlighted

Recent analyses of Bitcoin’s market activity have revealed a notable loss increase for short-term holders, particularly during market corrections. Data segments these holders into different time frames, ranging from one day to six months. The most significant losses were recorded among those who invested in Bitcoin at higher prices and sold during the dips, indicating a pattern of buying high and selling low. Assessing the Realized Losses across the #Bitcoin Short-Term Holder constituent cohorts [1d-1w, 1w-1m, 1m-3m and 3m-6m], we note a large spike in losses around market correction events. This highlights the capitulation of recent investors who have bought…

BitcoinApr 30