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Author: 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.

Crypto Mining Company Argo Blockchain Reduced Losses by 85% in 2023

Argo Blockchain (LSE: ARB; NASDAQ: ARBK), a cryptocurrency mining company, has released its 2023 financial results, revealing a year marked by strategic adjustments amidst industry challenges. However, despite achieving a modest gross profit, net income was negative for another consecutive year. The company mined 1,760 Bitcoin throughout the year, averaging 4.8 Bitcoin per day, despite facing increased global hashrate and network difficulty. Annual revenues reached $50.6 million, a 14% decline from the previous year, as the mining margin decreased to 43% from 54% in 2022. However, Argo made significant strides in optimizing its operations, increasing its hash rate by 0.3…

Mining

Gasless EVM blockchain SKALE Network reaches 17 million unique users

EVM-compatible and gasless blockchain SKALE Network reached 17 million unique active wallets (UAW) in the first quarter, according to a report shared by SKALE Labs, the team behind the project. Moreover, the report states that SKALE “saved its users $3.1 billion in gas fees in Q1”, comparing its network with BNB Chain and AVAX, which charged over $330 million in fees combined in March alone. Image: SKALE Moreover, over 70 projects and integrations have adopted SKALE technology in Q1, contributing to its expansion. The report mentions collaborations with ChainGPT, TCG, Dmail, NFT Arcade, and others. “SKALE’s gasless approach fundamentally changes…

Blockchain

Is Bitcoin Heading for Dip? Top Analyst Predicts BTC Price Correction

In recent market development, renowned cryptocurrency analyst Ali Martinez has raised concerns over the potential for an imminent price correction of Bitcoin (BTC). According to Martinez, the TD Sequential indicator, a popular tool among traders for identifying price trends, has flashed a sell signal on the 12-hour BTC chart. This could be an important signal for short-term traders, as historical data from early February shows that every time this indicator has suggested a sell, Bitcoin’s price has experienced a drop ranging between 1.6% and 3.5%. In addition, the chart shared by Martinez underscores the repetitive nature of this trend. Each…

Bitcoin

$3.5B Institutional Investment Propels VeChain Development, WIll VET Price Spike?

VeChain’s institutional backing fuels speculation and scrutiny amid ambitious projections. Collaboration with BCG signals VeChain’s pivotal role in driving sustainability initiatives. VeChain’s blockchain facilitates diverse, innovative solutions across industries for real-world impact. VeChain‘s trajectory garners attention as one particular VET holder weighs in on its potential, citing the substantial $3.5 billion institutional investment in 2018 by giants like DNV, PwC, and Bayer Capital. The $3.5 billion in 2018 investment in @vechainofficial by institutions like DNV, PwC, and Bayer Capital is promising, but predicting its success or specific price targets like $1-$5 by 2027 is complex. Monitoring VeChain's progress and market…

Altcoins

Hong Kong Officials Recommends Self-Regulatory Committee for Compliance Monitoring in Crypto Industry

The Hong Kong Securities & Futures Professionals Association (HKSFPA) advocated establishing a self-regulatory committee within the city’s crypto firms to enhance compliance monitoring on April 22. “Many economically developed regions in the world have established statutory semi-official industry self-regulatory institutions to focus on industry development,” Hong Kong regulators wrote. HKSFPA Calls for Industry-Led Licensing Authority in Hong Kong’s Financial Market In a recommendation letter, the HKSFPA highlighted the absence of an overarching organization to foster the development of Hong Kong’s financial market industry. It criticized the current regulatory landscape as overly focused on supervision without adequate mechanisms for industry-wide coordination.…

Regulation

Binance to phase down BNB Beacon Chain (BEP2) deposits

The BNB Chain members have communicated that Binance will terminate all operations on the BNB Beacon Chain (BEP2) by June 2024. In line with this decision, Binance has set a deadline for all BEP2 token deposits, excluding Binance-pegged tokens (B-tokens), which must be completed by May 15, 2024, at 00:00 UTC. This decision is part of the more extensive strategy of shutting down the BEP2 network and completely migrating to a more advanced BEP20 network. All users who currently possess BEP2 B tokens are urged to transfer them to Binance accounts prior to the ultimate day of the network shutdown…

Exchanges

GalaChain and Footprint Analytics Forge Strategic Partnership to Enhance Blockchain Data Insights

GalaChain, a prominent figure in blockchain solutions, has announced a new partnership with Footprint Analytics, a leading provider of blockchain data solutions. This collaboration aims to elevate GalaChain’s infrastructure by incorporating Footprint Analytics’ state-of-the-art data analytics capabilities. The integration is expected to significantly enhance the GalaChain ecosystem across diverse sectors including gaming, entertainment, and finance. We're partnering with @Footprint_Data to bring advanced data analytics to GalaChain! Get ready for enhanced insights that drive innovation. 🌐#BlockchainRevolution #GalaChain #DataInsights https://t.co/wfv84iseQc — Gala Games (@GoGalaGames) April 23, 2024 Surpassing Blockchain Limitations with Enhanced Solutions GalaChain has always been at the forefront of empowering…

Blockchain

Bernstein Is 'Now More Convinced' That Bitcoin Will Hit $150K After Massive Rally

Bitcoin ETF inflows have surpassed expectations. The broker is more convinced about its $150K bitcoin price target. Bitcoin mining stocks are the best way to play the crypto market rally. Bernstein analysts said on Monday that they were now more convinced about bitcoin (BTC) hitting $150,000 by mid-2025 after the largest digital asset rallied to reach a new all-time high this year. The analysts also predicted that bitcoin will ‘break out’ after the next halving event, reiterating its bullish call in some of the miners despite falling share prices. The broker repeated its $150,000 price target for the world’s largest…

Bitcoin

Token Plunges 26% Amid Airdrop Frenzy and Phishing Scams

Amidst the cryptocurrency market downturn, the Wormhole token plummeted by about 26% from its peak. This decline followed the much-anticipated airdrop event, which distributed 617.3 million W tokens to over 400,000 wallets. Consequently, this marked a crucial phase for the Wormhole initiative, aimed at rewarding early adopters and contributors within Solana and Ethereum ecosystems. How Scammers Are Taking Advantage of Wormhole Airdrop? The Wormhole token launch was designed, aiming to decentralize the protocol’s stakeholders. It introduced a supply of 10 billion tokens, with 1.8 billion initially available as Solana Program Library (SPL) tokens on Solana. Following the airdrop, top crypto…

Altcoins

Ripple Files Opposition to SEC’s $2 Billion Penalty Request

Ripple has filed an opposition to the Securities and Exchange Commission (SEC)’s demand for $2 billion in penalties. In a detailed motion made public by Ripple’s defense lawyer, James Filan, the company disputes the SEC’s proposed penalties as overly punitive. Ripple argued that the suggested fines are disproportionate and suggested $10 million instead. Ripple Challenges SEC’s Heavy Fines in Court Filing The filing emphasized that the requested $2 billion in penalties by the Commission is not aligned with the actual circumstances of the case. According to the document, there were no allegations or findings of reckless behavior or fraudulent activity…

Regulation