The prices of most altcoins are far from All-time-high levels. Such decline in Alts increased Bitcoin dominance as Btc market share, which was pulled down to 40% on May 19, rose to over 48% last week, and is currently sitting at 44%.
While it is not possible to predict which direction the market will move in the coming days, some news from Ripple, Cardano, Stellar, PancakeSwap, PAID Network, and COTI this week may be worth watching.
News This Week: Attorneys for Brad Garlinghouse and Chris Larsen is expected to respond to the SEC attorney appeal on June 4.
Why To Follow: The SEC has sued Ripple and the company’s founder Larsen and CEO Garlinghouse for selling unregistered securities. Garlinghouse and Larsen have applied for the dismissal of the lawsuit filed against them. At the beginning of May, the SEC filed a request to challenge this application with a 60-page document, Ripple opposed it, but the judge ruled in favor of the SEC. Garlinghouse and Larsen’s lawyers are expected to respond to the appeal this week. If Garlinghouse and Larsen’s lawyers are successful in withdrawing SEC lawsuit against them, it will be considered big success for Ripple founders and Ripple Itself.
News This Week: Cardano will organize a Marlowe webinar on June 3, 2021.
Why to Follow: The IOHK Foundation unveiled a new product suite last week called Marlowe. Designed separately for developers, end-users, and businesses, Marlowe was developed to make it easier for peer-to-peer negotiation on the blockchain. Thursday’s webinar will be the first webinar for Marlowe and will discuss developments in the decentralized finance (Defi) ecosystem and what role Marlowe can play in Defi.
For More Details Visit Marlowe Webinar: https://webinar.marlowe-finance.io
News This Week: Stellar will be voting to switch to Protocol 17 on June 1, at 1500 UTC.
Why To Follow: Protocol 17 will bring a feature called “asset clawback” to Stellar, which can be especially useful for organizations such as market funds.
“Protocol 17 introduces operations that allow asset issuers to maintain tighter control over how their asset is distributed to the world. Specifically, it gives them the power to burn their asset from a trustline or claimable balance, effectively removing it from the recipient’s balance sheet:
The amount of the asset clawed back is burned and is not sent to any other address. The issuer may reissue the asset to the same account or to another account if the intent of the clawback is to move the asset to another account.
This allows for things like regulatory enforcement, safety and control over certain assets, etc. You can refer to CAP-35 for more motivations or technical details behind these new features.”
Read more about protocol 17 Upgrade: https://www.stellar.org/developers-blog/protocol-17-upgrade-guide
News This Week: PancakeSwap will add the transaction fees collected in the last week IFO to today’s token burn.
Why To Follow: PancakeSwap held an IFO for Kalmar on May 27, with more than 160,000 individual wallets participating. People were able to stake CAKE and BNB before IFO and use their liquidity pool (LP) tokens during IFO. After the IFO is over, PancakeSwap splits the paid CAKE-BNB LP tokens into parts, uses BNB to buy CAKE from the market, and adds the CAKE it receives to the number of tokens it will burn weekly. The Cake token burning is expected to happen today.
This will be added to the burn on Monday. https://t.co/Us5xBPR5YP
— PancakeSwap 🥞 #BSC (@PancakeSwap) May 27, 2021
PAID Network (PAID)
News This Week: Cryption Network will launch its first Initial Dex offering (IDO) on the Ignition platform on June 8.
Why To Follow: IDO will be held next week, but the registration process (whitelist) to join IDO started on May 29 and will continue until June 1. Investors whose addresses are chosen in a draw will be able to buy CNT at a specific price next week.
Read More About Cryption Network IDO: https://paidnetwork.com/cryption-ido-on-ignition/
News This Week: With the update coming on June 1, a new node called NightShade will be added to COTI main network.
Why To Follow: Night Shade has been running on COTI’s test network since 2018. With the addition of NightShade to the mainnet, the total number of nodes in the network will increase to 20. The total staking volume will increase to 129 million COTI.
Read More About COTI NightShade Node: https://medium.com/cotinetwork/meet-the-nightshade-node-the-new-coti-community-node-5d4b9b583bd5
“The biggest Bitcoin event in history”
Bitcoin 2021, the most prominent Bitcoin event ever, will be held on June 4-5. The event will feature names such as Jack Dorsey, Michael Saylor, Cynthia Lummis, Tony Hawk and will be held in Miami with the sponsorship of Binance US, FTX, Crypto.com, Swipe OKCoin, and many more.