Author: NBTC

Recent data from the analytics company rwa.xyz reveals a 657% yearly growth in the market cap of tokenized US treasuries, reaching $863.6 million as of Jan. 18. A tokenized US treasury is a digital representation of traditional financial instruments like government bonds, US treasuries, or cash equivalents on a blockchain. The burgeoning industry is currently dominated by investment firm Franklin Templeton through its Franklin OnChain US Government Money Fund (FOBXX) mutual fund. FOBXX has successfully tokenized over $336 million in US government securities, cash, and repurchase agreements. Each share is valued at $1, and the majority of these tokens are…

XRP, the sixth largest cryptocurrency by market cap, saw token movements in the last 24 hours, one from an unknown wallet to Binance, the world’s largest cryptocurrency exchange by trading volume. The transfer of 25.82 million XRP from an unnamed whale wallet to Binance was reported by Whale Alert, a service that monitors large cryptocurrency transactions. 🚨 25,826,980 #XRP (13,562,734 USD) transferred from unknown wallet to #Binancehttps://t.co/qOeieCemwj — Whale Alert (@whale_alert) February 10, 2024 Whale Alert reported, “25,826,980 XRP (13,562,734 USD) transferred from unknown wallet to Binance.” The whale’s transfer has sparked speculation and curiosity among the crypto community, with…

Bitcoin has ascended once more, crossing the psychologically significant $50,000 threshold. This surge was noted by John Bollinger, the renowned technical analyst and creator of Bollinger Bands, a popular analytical tool among traders. Bollinger took to Twitter with a succinct message highlighting the cryptocurrency’s climb. “Hey ho, what do you know? Nice little walk up the upper Bollinger Band to $50,000 $btcusd,” he posted on X. Walking the upper band Bollinger’s post references the price movement of Bitcoin touching the upper Bollinger Band, an event often interpreted as a bullish signal. Bollinger Bands consist of a middle SMA (Simple Moving…

Ethereum Classic (ETC) experienced a 37% increase over the past seven days. Observers note that the surge is likely due to investors anticipating that the U.S. Securities and Exchange Commission will consider applications for an Ethereum (ETH) exchange-traded fund (ETF). On Jan. 10, the agency approved spot Bitcoin ETFs, However, SEC Chair Gary Gensler cautioned that the BTC ETF green light should not be interpreted as a signal of the agency’s willingness to give ETH the same treatment. Still, Ethereum Classic witnessed a surge of over 35% this week. The altcoin is exchanging hands for $26.65 at press time, with…

Recent developments in the bankruptcy cases of Celsius, BlockFi, and Voyager Digital crypto firms have put the spotlight on the legal prowess of Kirkland & Ellis. The law firm, renowned for its expertise in corporate restructuring, is poised to earn a staggering $120 million as lead counsel in these high-profile cases. The trajectory of these cases illuminates the volatile nature of the crypto market. Law Firms Cash in on Crypto Bankruptcy Cases Kirkland & Ellis represented the three crypto exchanges, with partner Joshua Sussberg at the helm. Their involvement began in June 2022, a period marked by significant cryptocurrency losses.…

New milestones often mark significant leaps toward a more interconnected and efficient cryptocurrency market. One such landmark achievement by Polygon has captured the crypto community’s attention, including Ethereum co-founder Vitalik Buterin. This development involves the release of the “Type 1 prover,” a novel component designed to enhance the scalability and interoperability of Ethereum-compatible networks through zero-knowledge proofs. Polygon Unveils New Technological Advancement Polygon’s recent unveiling of the Type 1 prover represents a pivotal moment in the blockchain industry. Indeed, it enables any network compatible with Ethereum’s EVM standard to transform into a Layer 2 network. This integration facilitates a seamless…

TRON founder Justin Sun, a famous cryptocurrency personality, withdrew 519 BTC (worth approximately $24.85 million) from Binance just six hours before the significant increase in Bitcoin’s price. Over the past two months, Sun has withdrawn a total of 1,677 BTC (approximately $75 million) from Binance, with the average price per Bitcoin withdrawn being $44,741. In another notable move, an unidentified whale deposited 244,958 LINK (approximately $4.96 million) on Binance two hours ago, potentially selling for a profit. The same whale had previously withdrawn 495,057 LINK (worth approximately $7.5 million) from Binance on January 28, February 2, and February 7, trading…

Ethereum Name Service (ENS) is enjoying bullish momentum in 2024 thus far, gaining 96% over the past week, per CoinGecko data. The surge comes after ENS experienced a massive drawdown in 2023 due to the longstanding crypto winter and regulatory uncertainties. In June, ENS witnessed a bloodbath triggered by regulatory actions against leading exchanges, hitting a five-year low of $6.69. ENS started sliding from its all-time high of $83.40 on Nov. 11, 2021, ending with a cycle low. The bear market continued till 2023. At the time of writing, ENS is exchanging hands for $24.8, representing a 96 % increase…

It’s the final day of the World Economic Forum (WEF) held in Davos-Klosters between 14-19 January 2024 – a global event bringing together the most influential players in politics and business to discuss the upcoming trends in business. It was only a matter of time before the topic of “tokenization” was addressed by the biggest crypto players in the sector. What is Tokenization? Unless you have been living under a rock, many will of heard it is the new buzzword circulating Wall Street. Forget initial coin offerings (ICOs) security token offerings (STOs) and initial exchange offerings (IEOs), non-fungible tokens (NFTs)…

Recent update on the Shibburn transaction tracker shows a positive shift in the SHIB burn rate. The aforementioned metric staged a rise despite the SHIB price bouncing back after the overnight increase. Some members of the SHIB community are asking questions about whether the transition to automated SHIB burns is still on agenda. SHIB burns rise almost 128% but questions rise According to the aforementioned data source, over the span of the last 24 hours, the SHIB burn rate has increased by 127.41%. In the course of three transactions, a total of 17,393,421 SHIB have been burned. Almost all of…