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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.

Why aren’t large Bitcoin holders selling despite high prices? Insights and analysis

As Bitcoin prices soar, the wealthiest investors are holding onto their assets. What’s driving this choice, and how does it affect the market? In recent years, the number of large Bitcoin (BTC) holders, called “whales”, has increased significantly. Data from Glassnode reveals a striking uptrend in the number of Bitcoin addresses holding over $100,000, escalating from less than 140,000 in July 2020 to nearly 680,000 by Mar. 12. Bitcoin addresses with a balance of more than $100,000 | Source: Glassnode Similarly, addresses possessing more than $1 million in Bitcoin surged from 13,000 in July 2020 to close to 120,000 on…

Bitcoin

Mantle Network partners with IntentX to enhance DeFi liquidity

Mantle (MNT), the DAO-led web3 ecosystem centred around Ethereum layer 2 (L2) Mantle Network and Ether liquid staking protocol Mantle LSP, has announced a strategic partnership with IntentX, a next-generation OTC derivatives decentralized exchange (DEX). The collaboration aims to revolutionize decentralized finance (DeFi) liquidity and trading offerings. Mantle EcoFund invests in IntentX As part of the partnership, IntentX secured seed investment from Mantle EcoFund, enabling liquidity support and ecosystem integration. In addition, IntentX also received a grant of 250,000 $MNT from the Mantle Foundation, the largest grant awarded to date. The grant will be used to incentivize traders and users…

DeFi

Yuga Labs Burns Nearly $1 Million Worth of Ethereum Gaming NFTs—Here's Why

Yuga Labs, the startup behind the Bored Ape Yacht Club (BAYC), announced early Thursday that it has completed the burn of 4,295 Ethereum NFTs related to the crypto game HV-MTL. This comes the day after Yuga Labs sold two of its gaming IPs to blockchain gaming studio Faraway—HV-MTL was one of these IPs. With Faraway now in charge, the gaming studio requested that Yuga Labs burn the nearly $1 million worth of HV-MTL NFTs it held. "Burning" crypto assets refers to the act of sending them to an address where they cannot be reclaimed, effectively destroying them. With a total…

NFT

DYDX Token Sees 4% Surge Amid dYdX Chain Outage: Platform’s Proven

dYdX Chain, the foundation for the perpetual futures exchange dYdX, encountered a long 9+ hour halt early Monday morning. This interruption, deemed a “major outage,” was a consequence of a scheduled v4 upgrade to the chain. Following approximately nine and a half hours of downtime, dYdX implemented a fix for the software bug, allowing enough validators to engage, consequently enabling dYdX to recommence block production midway through Monday. The outage lasted for nine hours and thirty-two minutes, according to dYdX’s status page, however, the network showed resilience in promptly addressing and rectifying the issue. The implemented fix by dYdX does…

Altcoins

Analytic Platform Says Coinbase Will List Shiba Inu’s BONE

Coinpedia Markets speculates that Coinbase will list BONE, Shiba Inu’s L2 blockchain official gas token, this year. Popular crypto analytic platform Coinpedia Markets has issued a bold prediction for Bone ShibaSwap (BONE). Coinbase to List BONE This Year Coinpedia Markets speculated that the highly anticipated listing of BONE on the San Francisco-based exchange Coinbase could happen this year. In a recent tweet, the analytic platform highlighted 10 tokens, including BONE, that are set to go live on Coinbase in 2024. Other tokens in the list include Kaspa (KAS), Baby DogeCoin (BABYDOGE), Toncoin (TON), Catcoin (CAT), Bitgert (BRISE), CoqInu (COQ), Neo…

Exchanges

Over $300 million liquidated as $30 billion in leveraged shorts now cluster near $74k

Bitcoin (BTC) reached a new all-time high of $73,760 today, surpassing the previous record set just yesterday at $73,600. However, the top digital asset declined below $70,000 before rebounding to around $71,200 as of press time. Notably, a significant amount of leverage is being flushed out on crypto exchanges like Binance and OKX, where traders can use up to 100x leverage. Per Coinglass, approximately $3 billion in leverage positions are open at the $74,000 price level, with an additional $2.8 billion at $73,900. Every $100 increment above $74,000 shows between $1-2 billion in open interest, suggesting a total of around…

Bitcoin

DeFi’s Path to Mass Adoption Goes Through Fintech Firms, Centralized Exchanges, Morpho Labs Chief Says

Many financial technology firms and crypto exchanges have noted Coinbase's success with Base, its layer-2 blockchain, and decided to work with layer 2s themselves or build their own. TradFi has such an advantage with its current infrastructure, there is no incentive to move to DeFi. Neutral DeFi protocols that others can easily build on top of are a better path to scale than giant on-chain brokers or funds such as Aave or Compound. The path to mass adoption of decentralized finance (DeFi) passes through fintech firms and centralized exchanges, which together form a disruptive force with more incentive to switch…

DeFi

Dogecoin Dev Ends Speculation on Elon Musk's DOGE Holdings

In a recent social media post, Mishaboar, a notable Dogecoin contributor and developer, addressed widespread speculation regarding Elon Musk's purported holdings of the popular cryptocurrency. Dismissing the notion that Musk owns a significant portion of Dogecoin, Mishaboar shed light on what was once a prevalent misconception during the previous bullish market cycle. Mishaboar highlighted a crucial piece of misinformation that circulated during the peak of Dogecoin's popularity. He pointed out that influential figures, including Changpeng Zhao (CZ), the former CEO of Binance, and certain "genius" YouTubers, perpetuated the false claim that a single whale held 30% of Dogecoin's total supply.…

Altcoins

Cryptocurrency Exchange Kraken Acquires TradeStation Crypto

Kraken has acquired TradeStation Crypto to help the exchange expand its footprint in the U.S. Florida-based TradeStation Crypto acquired money transmitter and other types of regulatory licenses in most U.S. states over the past few years. Cryptocurrency exchange Kraken is acquiring TradeStation Crypto, the digital asset-focused division of online brokerage TradeStation, to expand its regulatory licensing in the U.S. "We can confirm Kraken has recently purchased TradeStation's crypto business. The transaction is part of our efforts to accelerate our U.S. presence and will unlock further growth and new product opportunities for Kraken in the U.S," a Kraken spokesperson said via…

Exchanges

Bitcoin Brushes $73,794 Peak Before Midday Price Fluctuations

The price of bitcoin had a tumultuous day on Thursday dropping below the $70,000 threshold at 12:30 p.m. Eastern Time only to return back above the $70,000 range shortly after. Bitcoin had tapped an all-time price high during the early morning trading sessions on Thursday by briefly tapping $73,794. Bitcoin’s Rollercoaster Day Sees Dip Below $70K Bitcoin’s valuation experienced a fluctuating day on Thursday, initially dipping below the $70,000 mark at 12:30 p.m. Eastern Time before ascending back above the $70,000 threshold shortly thereafter. In the early hours of Thursday, bitcoin (BTC) reached a new zenith in its price, touching…

Bitcoin