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.

Synthetix Launches 12 New Perpetual Futures

Synthetix is excited to expand its cryptocurrency derivatives offerings by launching twelve new perpetual futures markets on its Base platform. The markets now feature high-profile digital assets such as Optimism (OP), Ethena (ENA), Avalanche (AVAX), BNB (BNB), Thorchain (RUNE), Polygon (MATIC), Arbitrum (ARB), Bonk (BONK), Doge (DOGE), Fantom , Pepe (PEPE), and Ordi (ORDI). Approvals for these markets came through SIP-373 and SIP-376, with detailed trading parameters set forth in SCCP-323. Access New Perpetual Futures on Synthetix Directly Exclusively on Synthetix Perps on Base, traders can access these markets directly through integrations with platforms like Kwenta. This allows for seamless…

DeFiApr 22

Has the Situation Changed in Ethereum ETFs? Updated Evaluation from ETF Analyst!

After the spot Bitcoin ETFs approved by the SEC in January, all eyes turned to Ethereum ETFs. While it was considered certain that ETH ETFs would be approved in the first months, this possibility has decreased recently. While most analysts think that the SEC will most likely not approve Ethereum ETFs in May, a comment about ETH ETFs came from ETF analyst Nate Geraci. Sharing from his X account, Geraci stated that the general opinion in the market is that Ethereum ETFs will not be approved in May and that he agrees with this idea. At this point, ETF Store…

EthereumApr 22

Solana Price Falls Amid Network Congestion as Wormhole Plunges After Airdrop

Solana (SOL) has seen the biggest losses in the top 10 cryptocurrencies by market cap today, down about 7% in the past 24 hours according to data CoinGecko, as congestion issues plague the network. The coin is down about 6% over the past week and is now priced at $175. But the fifth-biggest digital asset by market cap isn't the only one suffering: some of the prominent tokens that run on its network have been hit even harder. Wormhole (W), which held its airdrop earlier this week, has been rocked the hardest and is down by 17% in the past…

AltcoinsApr 22

Here’s Why Today is Important in the SEC v. Ripple Case

The multi-year legal tussle between the U.S. SEC and Ripple is approaching a final resolution as the remedies stage of the lawsuit edges close to an end. According to the court’s scheduling order, Ripple will file its reply to the SEC’s opening remedies-related brief today, April 22, 2024. Procedures of Ripple’s Upcoming Opposition Brief While Ripple is expected to submit its remedies-related opposition brief in the U.S. District Court for the Southern District of New York (SDNY) today, the filing will remain sealed until April 24, when a redacted version of the motion will be filed in the public docket.…

RegulationApr 22

Will Norway’s new regulations drive Bitcoin miners away?

How will Norway’s crackdown on crypto mining impact the global Bitcoin market and the country’s economy? Amid the recent completion of Bitcoin’s (BTC) fourth halving, which saw miner rewards halved to 3.125 Bitcoins, Norway is taking decisive steps to address the energy-intensive practice of crypto mining within its borders. Against Bitcoin’s price volatility, currently hovering around $66,000, the Norwegian government is gearing up to enact new legislation aimed at reining in data centers, a move partly intended to curb crypto mining activities. According to a report from local news outlet VG, citing statements from Digitalization Minister Karianne Tung and Energy…

MiningApr 22

Innovations Surge With Lido’s DVT and Aave’s Proposal

The decentralized finance (DeFi) landscape has been brimming with activity over the past week. Leading the charge, Lido Finance announced the launch of its Simple Distributed Validator Technology (DVT) on the Ethereum mainnet. This innovation enables individual and community stakers to operate validators, democratizing participation and enhancing the security and decentralization of the node operator ecosystem. Aave Continues to Make Strides in DeFi with Simple DVT Deployment In a move to streamline staking, Aave’s community introduced the FastPass proposal, aiming to allow a portion of Safety Module stakers to skip the typical 20-day cooldown period for a fee. This proposal,…

DeFiApr 22

Bitcoin Miners Have Raked in Abnormal Transaction Fees Since Halving: Bernstein

Total miner revenue is currently about triple the pre-halving level, the report noted. The spike in network fees indicates the level of developer interest in Bitcoin, and the fee revenue potential for miners, Bernstein said. The broker expects 15% of miner revenues to be network transaction fees on a sustainable basis. Since the reward halving of bitcoin (BTC), miners have earned about 19 BTC per block on average, which is over and above the standard block rewards as a spike in network fees led to a tripling of revenue, broker Bernstein said in a research report on Monday. The quadrennial…

MiningApr 22

NFT Sales Dip by Over 25% as Bitcoin Dominates a Cooling Market

Recent data over a seven-day period ending April 21, 2024, shows that non-fungible token (NFT) sales have declined by 25.48%, totaling approximately $236.96 million. Bitcoin dominated the NFT market this week, contributing $111.8 million to the overall sales since April 14. NFT Sales Tumble This week, NFT revenues fell 25.48% compared to the previous week. Losses affected four of the top five blockchain platforms in NFT transactions. Bitcoin maintained the lead with $111.8 million, though its sales fell by 35.63%, as reported by cryptoslam.io. Ethereum also experienced a decrease, with sales falling 20.38% to $49.58 million. Solana’s sales dropped by…

NFTApr 22

Ethena Labs Adopts Bitcoin to Back USDE Stablecoin; Supply Surpasses 2 Billion

On Thursday, Ethena Labs unveiled its new strategy to back USDE with bitcoin, enhancing the stablecoin’s foundation. The stablecoin, known for delivering yields in the double digits, has rapidly ascended to become the fifth-largest stablecoin by market capitalization, now valued at over $2 billion. USDE to Utilize Bitcoin as Collateral An update shared by Ethena Labs on X reveals that USDE will adopt bitcoin (BTC) as collateral to maintain its peg to the U.S. dollar. The transition to BTC-backed positions will be visible on the Ethena dashboards by Friday, the team announced. Ethena pointed out that hedges currently constitute around…

AltcoinsApr 22

Bitcoin Miner Hut 8’s Post-Merger Prospects Look Good: Benchmark

Hut 8 now has a more diversified business model following its merger last year with US Bitcoin Corporation, the report said. Benchmark initiated coverage of the bitcoin mining stock with a buy rating and a $12 price target. Its bitcoin stash of 9,102 coins provides it with a sizable liquidity cushion, the report said. The new Hut 8 (HUT), resulting from the merger with US Bitcoin Corporation (USBTC) that closed last November, features a diversified business model with multiple revenue streams, broker Benchmark said in a research report on Monday. Benchmark initiated coverage of the bitcoin (BTC) miner with a…

MiningApr 22