Greg Cipolaro says the popular calculation misleads investors and ignores debt risks A top executive at NYDIG has urged the crypto industry to abandon the widely used market-to-net asset value (mNAV) metric, arguing that it distorts company valuations and misguides investors. “mNAV needs to be deleted” Greg Cipolaro, NYDIG’s global head of research, issued a sharp critique on Friday, saying the industry definition of mNAV “needs to be deleted and forgotten.” “The original definition of ‘market cap to digital asset value’ is a useful metric for nothing,” Cipolaro wrote, warning that the calculation often overlooks the broader business operations and…
Author: Blockto Team
Jack Dorsey’s decentralized app sees rising adoption amid water and power crisis The decentralized messaging app Bitchat, backed by Block CEO Jack Dorsey, has seen a sharp spike in searches and downloads in Madagascar, coinciding with mass protests over worsening power and water shortages. Protests Trigger Digital Shift Last Thursday, demonstrations erupted in Antananarivo, Madagascar’s capital, as citizens expressed frustration over recurring blackouts and water cuts. The protests quickly spread nationwide, with reports of clashes, looting, and a dusk-to-dawn curfew imposed by authorities. The unrest led to the dismissal of the country’s energy minister. In the middle of the turmoil,…
Pro-crypto mayor’s exit raises questions about NYC’s blockchain ambitions New York City’s crypto-friendly mayor Eric Adams has officially ended his reelection campaign, a decision that could reshape the city’s ambitions to become a leading digital asset hub. The announcement, made on Sunday via video on X, followed weeks of speculation about his financial and political struggles. Financial Troubles and Scandal Fallout Adams cited financial difficulties tied to his dismissed federal bribery case and the withholding of millions in public funds as the primary reasons for his withdrawal. “Despite all that we have achieved, I cannot continue my reelection campaign,” Adams…
New SIMD-0370 proposal could push Solana’s performance to new levels while raising centralization concerns Jump Crypto, the Web3 infrastructure firm behind Solana’s high-performance Firedancer validator client, has introduced a new proposal that could fundamentally reshape the blockchain’s throughput capacity. The plan, dubbed SIMD-0370, recommends removing Solana’s fixed compute block limit in favor of a system that prioritizes high-performance validators over those with weaker hardware. Currently, Solana enforces a fixed block limit of 60 million compute units (CU). This cap restricts how many transactions can be processed within a block, ensuring even smaller validators can keep up. The new proposal suggests…
Breakout sparks optimism, but resistance levels remain in focus Bitcoin (BTC) climbed above $112,000 on September 29, signaling renewed bullish momentum after weeks of sideways trading. The move comes as the world’s largest cryptocurrency finds support at a critical demand zone, reigniting discussions about its next major breakout. The chart shows Bitcoin breaking through the descending channel pattern that had capped price action throughout September. After bouncing from the green support zone around $107K–$108K, buyers pushed the price above $112K, marking the first strong rebound in weeks. BITX Analysts point to the breakout as a shift in market sentiment. “Bitcoin…
Free digital cats turn into six-figure windfalls The NFT market has witnessed another eye-popping moment as an early Hyperliquid adopter sold a rare airdropped Hypurr NFT for a staggering $467,000. The sale highlights both the explosive value of exclusive NFT collections and the lucrative rewards sometimes reserved for blockchain early adopters. Airdrop Rewards Early Hyperliquid Users The Hypurr collection, featuring cartoon-style digital cats, was officially launched on the HyperEVM on September 28. A total of 4,600 NFTs were created, with 4,313 allocated to participants of Hyperliquid’s Genesis event in November 2024, which coincided with the launch of the HYPE token.…
Central Bank stresses resilience amid digital payment risks The European Central Bank (ECB) has issued a rare but significant recommendation: every citizen should keep a modest cash reserve at home to prepare for emergencies. While Europe pushes forward with digital payment adoption and the development of a digital euro, the ECB warns against overlooking the fragility of electronic systems in times of crisis. Why the ECB Is Promoting Cash Again According to the ECB, households should hold between €70 and €100 per person to cover basic expenses for at least 72 hours if digital systems fail. This advice echoes similar…
PI/USDT stuck in descending channel as bearish momentum persists The Pi Network token (PI/USDT) continues to face heavy selling pressure, with its price locked inside a descending channel since mid-May. Despite occasional spikes in volume, the asset has failed to recover beyond resistance levels, signaling a lack of strong bullish conviction among traders. On the daily chart, Pi has consistently posted lower highs and lower lows, forming a clear downward channel. The resistance line near $0.40 remains a ceiling for any bullish attempts, while the lower boundary around $0.18 has acted as a key support zone. Currently trading near $0.26,…
U.S.-U.K. Taskforce Aims to Align on Stablecoins, Tokenized Assets, and Cross-Border Finance Ripple is spotlighting a groundbreaking transatlantic initiative that could serve as the first global framework for international cooperation in digital assets. The U.K.-U.S. Transatlantic Taskforce for Markets of the Future is designed to harmonize approaches on stablecoins, tokenization, and regulatory standards — potentially reshaping institutional adoption of blockchain worldwide. Ripple executives highlighted the broader impact on institutional confidence and cross-border finance. Cassie Craddock, Ripple’s managing director for the U.K. and Europe, described the initiative as a natural extension of the long-standing financial services partnership between both nations. A…
Market eyes $2.50 zone as potential turning point for NEAR/USDT The cryptocurrency NEAR Protocol (NEAR/USDT) has entered a critical stage, trading around $2.67 after a period of sharp declines from the $3.30 peak earlier this month. The chart highlights an important battle between buyers and sellers, with attention now shifting to the $2.50 support zone, marked in green. The recent pullback follows a rally that saw NEAR climb from below $2.00 into the $3.30 range before encountering strong resistance at $3.10–$3.30. This red zone acted as a ceiling, forcing the price into a downward correction. Currently, NEAR is consolidating above…