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Tether Now Available In 24,000 ATMs Across Brazil

Albert Brown
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Tether Now Available In 24,000 ATMs Across Brazil

Tether (USDT) Tokens to be Made Accessible in 24k+ ATMs Throughout Brazil.


Tether (USDT) will be launched in over 24,000 ATMs throughout Brazil by FinTech firm SmartPay.

Cryptocurrencies are fast creeping into the everyday payments of the average individual. The industry is seeing a massive espousal rate, and several companies are leveraging this opportunity to provide the masses with more direct access to digital currencies.

Latin America has seen one of the most impressive adoption rates of cryptocurrencies, with some FinTech firms developing seamless integrations with the asset class. Brazilians, in particular, have welcomed these integrations wholeheartedly in the past and will be seeing more before long.

In a recent highlight of events, individuals within Brazil will soon get the opportunity to access Tether (USDT) across over 24,000 ATMs in Brazil, Tether Operations Limited – the firm behind USDT – announced Thursday via an official press release.

Per the information, the integration will be handled by FinTech firm SmartPay to ensure seamless access for Brazilians. The goal of the development is to give more individuals within Brazil access to financial technology through cryptocurrencies.

With this integration, Brazilians can select USDT amongst other cryptocurrencies as their desired asset for whatever use case across the 24k+ ATMs. They will get the opportunity to send USDT to anyone across the globe. Additionally, users can receive Tether and withdraw through Brazilian reais where necessary. The integration will be made available on November 3.

“Adding tether tokens to ATMs across Brazil provides the opportunity to include more people in the financial system. This will bring major changes not only to the payments industry but to the entire Brazilian financial ecosystem,” Paulo Ardonio, Chief Technology Officer at Tether, remarked, speaking on the development.

With a market capitalization of $68.5B, USDT remains the largest stablecoin by valuation. The asset has also been the third largest cryptocurrency by market cap, only below Bitcoin (BTC) and Ether (ETH).

People without a bank account are more than 34 million in Brazil; This integration will provide unbanked adults access to a new financial revolution in the shape of digital currency.

Data suggests 79,836 USDT transactions eclipsed $1.4B worth in August, making it one of the most moved cryptocurrencies. This integration from SmartPay is likely to bring more mainstream attention to USDT in the Brazilian cryptocurrency scene.

Will Binance Answer As Shiba Inu Community Push For BONE Listing Picks Momentum

Zabi
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Will Binance Answer As Shiba Inu Community Push For BONE Listing Picks Momentum

Shiba Inu Community asks Binance to list the Governance token of the Shiba Inu Ecosystem, Bone ShibaSwap (BONE), on its platform.



Recently, many dedicated Shiba Inu enthusiasts launched a Twitter campaign to urge Binance, the world’s largest cryptocurrency exchange, to add support for Bone ShibaSwap (BONE).

 

Even an anonymous Shiba Inu lover launched a petition on change.org for a BONE listing on Binance about four months ago. The petition has received only 211 signatures. The said petition was launched soon after Binance added the price tracking feature for BONE that enables its users to track the price of Bone ShibaSwap on the platform.

Shiba Inu Community believes in the massive potential of Bone ShibaSwap following the launch of the Shibarium and urges the major exchanges to list BONE before the Shibarium launches. Since Bone ShibaSwap will be used as a native gas token on the much-anticipated Shibarium blockchain meaning that Shibarium’s users would need a BONE to execute any transaction on the network.

BONE minting is also complete, and no new BONE can be minted. At the same time, the Shiba Inu team allocated the remaining 20 million BONE to reward Shibarium validators from the total supply of 250 million.

Furthermore, Bone ShibaSwap is now listed on a few major cryptocurrency exchanges, including LBANK, MEXC Global, CoinEx, and BitMart.

As reported earlier by The Crypto Basic, Singapore-based Crypto.com also urges Shiba Inu Community to raise their voice for the potential BONE listing on the major exchange.

Terra Classic Community Pushes To Eliminate Scam Proposals

Mark Brennan
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Terra Classic Community Pushes To Eliminate Scam Proposals

Terra Classic (LUNC) community votes to increase requirements to make proposals.


In a tweet on Wednesday, Terra Luna Classic (LUNC) influencer Classy Crypto disclosed that with the support of LUNC core developer Edward Kim, he had launched a new proposal to protect the community from fake proposals used by scammers to loot the funds of holders.

Notably, tweets from Terra Rebels’ admin ClanMudhorn, who also revealed working with the influencer, noted that the proposal aims to raise the minimum requirements for members wishing to submit LUNC proposals. Proposal 6082 will require users to make a 500,000 LUNC (about $125 at current rates) deposit to make proposals and a 1,000,000 LUNC (about $250 at current rates) deposit to initiate voting.

It is worth noting that the requirements are currently set at 0 LUNC and 345,000 LUNC, respectively.

In a tweet yesterday, Classy Crypto, who has expressed his intention to run a LUNC validator in the future, asserted that he sees the proposal as his first contribution to the LUNC ecosystem. The influencer expressing his motivations highlighted that he had received multiple DMs from community members recounting tales of losing thousands of dollars due to scam proposals.

It is worth noting that the proposal has received support from the Terra Rebels, who described it as a step in the right direction.

Additionally, reXx of the Terra Rebels brought further attention to the proposal by highlighting the tweets of a user who had lost his LUNC holdings because they clicked a link on a scam proposal on the Terra Station.

While Classy highlighted that the proposal has already passed the 50% support threshold, some other community members have expressed concerns that the consequences of the proposal have not been fully engaged.

Popular community member DemonMonkey777 expressed concern that the proposal’s effect may fall flat if the price of LUNC plummets. Additionally, he added that if the price of the token surges, it locks out community members with great ideas and little means.

Echoing similar concerns, StrathCole noted that it might not stop scammers as they stood to gain more money from their schemes. However, per StrathCole’s statements, it could effectively stop “small guys” from making valid contributions.

It is worth noting that security concerns have come to the fore in the past week in the community. As The Crypto Basic reported on October 10 alone, reXx of the Terra Rebels had to warn users of a scam proposal and a fake swap and burn platform. Scammers targeting LUNC members is unsurprising as the buzz around the community provides an avenue for bad actors to take advantage of unsuspecting members.

Here’s Why Ex-US Congressional Candidate Predicts a “Parabolic” Rally for Shiba Inu

Albert Brown
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Here’s Why Ex-US Congressional Candidate Predicts a “Parabolic” Rally for Shiba Inu

Ex-US Congressional candidate David Gokhshtein believes SHIB will stage a massive rally when the next bull run greets the markets.


Due to market cycles, the community doesn’t always face a bull market, but when it does occur, it serves as a catalyst for massive rallies from several assets. The next bull run might be further away than many expect, but several market watchers are already picking favorites for when it comes.

In particular, David Gokhshtein – founder of Gokhshtein Media and former US Congressional candidate – seems to be rooting for Shiba Inu (SHIB). When the bull market emerges, it becomes a question of which asset will stage the biggest comebacks. Gokhshtein has his bet on SHIB.

“Everyone is beefing and I’m like thinking DOGE and SHIB going to go parabolic during the next bull run,” Gokhshtein noted in a statement from his official Twitter handle on Thursday.

Gokhshtein who remains largely active on the aves-themed social platform, has been remarkably vocal about his advocacy for SHIB. Much like billionaire Elon Musk did with Dogecoin, Gokhshtein has seized every opportunity to endorse Shiba Inu despite the effects of the bearish atmosphere on the asset.

Gokhshtein recently expressed his regret regarding his purchase attitude towards SHIB. In a tweet just last week, the 40-year-old entrepreneur mentioned that he ought to have put all his cards on SHIB regarding meme coins. “When it came to meme tokens, should have just went all in on SHIB,” Gokhshtein remarked.

Besides leveraging Twitter as an avenue for SHIB endorsement, Gokhshtein has also expressed his advocacy for the Shib in interviews. In a recent interview with U Today, he discussed several mainstream crypto assets and his stance on the markets. Gokhshtein commended the Shiba team on the developments put into the project, which have ensured its survival, especially in this bear market.

He rued his initial apathy towards the asset when he was first introduced to it. 

‘When it first came out, I wasn’t interested, cause I’m like, “We already have Dogecoin, and Dogecoin effectively did a great job at that point, in 2021 with the whole meme economy,”‘ he said.

Gokhshtein admitted that he was advised to invest as little as $500 in SHIB, which he declined – a decision he now regrets, looking back at it. He highlighted that he could have made a few million if he had taken the investment advice. “I didn’t go in; I was a purist and wasn’t open-minded, but then I became open-minded,” he added.

He further highlighted the massive work the Shiba Inu team put in, noting that the hard work put into developing the asset will be a patent for the broader crypto community before long. Shiba has been attracting much attention of late as developments see an uptick.

“I think the Shiba dev team has done a great job building.”

He also confirmed that he holds Shiba Inu and loves the Shib community.

” I’m very bullish on SHIB. I hold SHIB by the way, but I’m very, very bullish. I like the community. They’re tough, a tough bunch of people. They went in, obviously, to make money, but they stayed because they’re in love with the ecosystem.”

Last week, global payments firm BlueSnap partnered with top crypto payment provider BitPay to facilitate SHIB payments as it moves to enable businesses to accept Shib as payment from clients. Additionally, recent data from security research firm CertiK places Shiba Inu as the second most secure crypto project, only behind Polygon, as The Crypto Basic previously reported.

Amidst these encouraging reports, SHIB has remained in consolidation below $0.000011 since October 10. Following a rally to $0.000017 mid-August, the asset has been hit hard by the bears below expected levels. 

Notwithstanding, SHIB has steadied itself at the $0.000010 support, only dipping below it last week before summarily seeing a rebound. The asset is currently changing hands at $0.00001002, down 1.3% in the past 24 hours,

Cardano Foundation Selects 45 Stake Pools for Delegation Out of 188 Applicants In October

Mark Brennan
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Cardano Foundation Selects 45 Stake Pools for Delegation Out of 188 Applicants In October

45 Cardano stake pools were selected out of 188 applicants.



Cardano Foundation has released a list of Cardano stake pools selected for delegation for October 2022.

“Today, we did the redelegation of the Cardano Foundation Wallets,” the organization noted in a recent announcement.

According to the announcement, Cardano Foundation received 188 applications for this month’s stake pool delegation. Of the 188 applications received, 58 of these pools were selected for their outstanding contributions toward the growth of the Cardano ecosystem. 

Out of the 58 pools considered to be outstanding, 45 pools were selected for this month’s delegation by the Cardano Foundation.

“We have identified 58 of them as outstanding contributions […] We did a random draw and delegated to 45 pools,” the announcement added. 

Some of the pools selected include GimbalPool (GMBL), Everest Stake Pool (EVT), Nomad Pool (NOMAD), RDLRT StakePool (RDLRT), and ChainCrucial.io (CCIO), etc.

The non-profit organization stated that it had been exactly a year since it changed the delegation strategy of stake pools to support promising projects.

However, participation in this round of stake pool delegation was very low compared to previous rounds. This is because some bigger stake pools chose not to participate in this round to give smaller projects a chance.

Cardano (ADA) and XRP Weighted Sentiments Turn Positive as Investors Anticipate an Imminent Rebound

Albert Brown
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Cardano (ADA) and XRP Weighted Sentiments Turn Positive as Investors Anticipate an Imminent Rebound

 

Cardano (ADA) and XRP are witnessing some positive sentiments from the community as investors look out for a comeback.


The bear market as we know it is far from over, but that hasn’t stopped the markets from staging occasional relief rallies to keep the hope alive. Sentiments remain a crucial aspect of the market, especially at this time, as they attest to investors’ outlook on the markets.

Due to the effects of the bear market, weighted sentiments have generally remained bearish for most of the cycle. Notwithstanding, it appears traders are getting some positive feelings about the price actions of some assets such as ADA and XRP. 

“The crypto crowd is far from euphoric toward markets. But the persistent negativity and bearishness has faded as traders anticipate a rebound here in Q4,” behavior analytics platform Santiment remarked in a tweet Thursday.

 

Santiment highlighted the Weighted Sentiments of several notable crypto assets, including but not limited to ADA and XRP. These two assets, in particular, had witnessed a bearish outlook from market traders for over a month.

This bearish outlook dissipated as the markets transitioned from mid-October to late-October, heading to the last two months of the year. With a Weighted Sentiment score of 0.20 at the time of reporting, ADA is witnessing its most bullish sentiment in over a month.

The conviction provokes this shift to a bullish outlook that ADA will likely break out of its bearish pattern. ADA has been underperforming since mid-September, but the asset’s dip to $0.35 makes investors believe the bottom is likely priced in and could only go up from its current position.

ADA currently trades at $0.35 as of press time, down 2.74% in the past week. The asset has broken below several resistance points to regain its humble position. The last time ADA saw the $0.35 level was in January last year. Notwithstanding, the support at $0.35 has proven useful in ensuring there are no further dips.

Notable market watcher Peter Brandt forecasted an ADA dip to $0.25 early this month. The asset was changing hands at $0.43 at the time. ADA has plummeted by over 18% since then. Most analysts, however, believe the asset couldn’t dip further, which explains the rise in Weighted Sentiment.

Additionally, the community appears bullish on XRP, maintaining its position above $0.45 for over two weeks despite market turbulence. With a count of 0.74, XRP has the highest Weighted Sentiment score amongst the five assets assessed, leading even the firstborn crypto, BTC.

XRP has generally proven to be more formidable against the effects of the bears than most cryptocurrencies. The asset’s auspicious price movements have partly been stimulated by a more bullish outlook borne by massive developments on XRPL, like Ethereum smart contracts coming to XRPL and recent reports of Ripple’s litigation with the SEC, like by court orders SEC is bound to handover Hinman documents to Ripple.

XRP has only seen minor gains in the past day and week, consecutively at rates of 0.57% and 0.80%. The asset is currently changing hands at $0.46 as of press time. A rise to levels above $0.50 before month-end is not a chimerical task for the asset, as it already touched the zone this month.

Crypto.Com, OKX And Kucoin Follow Binance To Reduce Terra Classic (LUNC) Tax Burn

Mark Brennan
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Crypto.Com, OKX And Kucoin Follow Binance To Reduce Terra Classic (LUNC) Tax Burn

Three Top Exchanges Follow Binance to Reduce Terra Classic (LUNC) Tax Burn From 1.2% to 0.2%.



More exchanges declare support for Terra Classic tax burn reduction.

Three cryptocurrency exchanges announced they would implement the Terra Classic proposal to reduce the tax levied on LUNC and USTC on-chain transactions.

The development comes hours after Binance said it would comply with the recent proposal passed by the Terra Classic community.

After Binance declared support for the initiative, top cryptocurrency trading platforms, including KuCoin, OKX, and Crypto.Com, followed the same path. 

Crypto.com’s Announcement

Crypto.com noted in an announcement today that it will reduce the tax burn parameters for Terra Classic tokens’ on-chain transactions, including deposits and withdrawals, from 1.2% to 0.2%. However, deposits and withdrawals for Terra Classic tokens will still incur the regular fees.

OKX Supports LUNC Tax Burn Reduction

In a similar development, OKX stated that it would also support the tax burn reduction levied on LUNC and USTC on-chain transactions. The exchange noted that it will reduce the tax burn for USTC and LUNC from 1.2% to 0.2% later today.

“OKX will make the following updates to the deposit and withdrawal fees for LUNC and USTC on the Terra Classic network once the new tax burn mechanism is live,” the exchange noted. 

OKX noted that it will halt deposits and withdrawals for Terra Classic tokens today at 11:00 UTC, to implement the changes.

KuCoin’s Announcement

KuCoin also joined other exchanges to announce support for reducing LUNC and USTC tax burn.

“KuCoin will support the tax burn deduction of Terra Classic (LUNC) and Terra Classic USD (USTC) tokens when the 0.2% tax burn goes live at the Classic Terra block height of 9,878,400,” the exchange noted in an announcement. 

Rationale Behind Tax Burn Reduction

The move to reduce the tax burn for on-chain transactions of LUNC and USTC on the Terra Classic network from 1.2% to 0.2% is part of efforts to boost the trading volume of Terra Classic tokens.

Since the 1.2% tax burn was implemented last month, there has been a huge decline in LUNC and USTC trading volumes. Many traders avoided Terra Classic tokens due to paying 1.2% on every deposit and withdrawal. The community decided to reduce the tax burn to 0.2% to attract traders back to LUNC and USTC. 

As stated in the newly passed proposal 5234, 10% of the fee will be dedicated to a community pool to fund the project’s development.

Cardano Founder Bashes Vitalik For Crossing Lines In The Name of Fostering Crypto Adoption

Mark Brennan
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Cardano Founder Bashes Vitalik For Crossing Lines In The Name of Fostering Crypto Adoption

Cardano Founder Criticizes Vitalik For Saying Solo Validators Censorship Could Be Tolerated.



In a tweet today, the founder of Input Output Global (IOG), the team behind the Cardano network, Charles Hoskinson, bashed comments by Ethereum founder Vitalik Buterin that asserted that the network should largely tolerate solo validator censorship.

According to Hoskinson, Buterin’s line of thinking follows the logic behind the “DAO hack,” adding that the Ethereum founder is crossing lines under the guise of crypto adoption and progress.

While it is not explicitly clear the DAO hack Hoskinson is referencing, it is worth noting that last Tuesday, Mango DAO lost over $113 million in an exploit. Ultimately the DAO becoming insolvent as a result, negotiated a $47 million bounty with its attacks to receive $66 million from the loot. Notably, on Saturday, Avraham Eisenberg, who claimed to be a member of the group that carried out the exploit, asserted that their actions were legal and justifiable as a risk-free trading strategy.

Hoskinson’s latest comments came as an ADA stake pool operator (SPO) drawing attention to the comments by Buterin said that crypto media would not be so favorable if Hoskinson made the same comments. According to the SPO, Ethereum appeared to lack guiding principles, making up things as they go.

It is worth noting that following Ethereum’s transition to proof-of-stake (PoS) in September, concerns over centralization have reached a fever pitch. The most recent commentator, Morgan Stanley, noted that 65% of Ethereum’s nodes are cloud-hosted, with half of these hosted by Amazon Web Services. Moreover, only four companies control over 60% of the network’s validators.

Notably, amidst all of these, Ethereum’s Vitalik Buterin has expressed the belief that it is ok for solo validators to choose the transactions they wish to be included in their block within a certain margin. As highlighted in a previous report by The Crypto Basic, this will likely not cause any harm as the network will still include these weakly censored transactions in the chain so long as one validator approves it. However, it is a different story should these validators decide not to attest to blocks carrying transactions that do not align with their personal beliefs.

Notably, this debate is not exclusive to Ethereum, as pundits have also argued whether or not it is ethical for non-mining Bitcoin nodes to refuse to validate certain transactions and whether or not these nodes ultimately matter.

It bears mentioning that censorship is broadly perceived as antithetical to crypto ethics and the Bitcoin vision.

It is worth noting that there is no love lost between the Cardano and Ethereum communities, and Hoskinson continues to seize every opportunity to criticize Ethereum PoS.

Crypto.Com Announces Support for Flare Token Airdrop For XRP Holders

Mark Brennan
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Crypto.Com Announces Support for Flare Token Airdrop For XRP Holders

Crypto.Com will also participate in the upcoming Flare token (FLR) airdrop exercise.


 

As the distribution date for Flare (FLR) tokens to Ripple (XRP) holders edges closer, top cryptocurrency exchanges have started declaring their support for the airdrop. Huobi Japan announced in August that it would support FLR airdrop for XRP holders. Now, Crypto.Com, a leading cryptocurrency trading platform, said it would support FLR tokens distribution for XRP holders.

“Crypto.com is supporting the Flare (FLR) airdrop for XRP holders from supported jurisdictions,” the exchange stated.

According to the announcement, FLR will be distributed based on the balance of its XRP holders as of the time a snapshot was taken on December 12, 2020, at 00:00 UTC. 

Flare Token Airdrop

The Flare token distribution is one of the most discussed events in the Ripple community. XRP holders have been anticipating the airdrop since last year. However, the exercise was stalled by several events linked to the Flare project. 

Earlier this year, Flare Network CEO Hugo Philon disclosed that an upgrade of Songbird caused the delay in Flare’s launch and the distribution of FLR. 

“For all those asking where their FLR is. We are upgrading Songbird, before the end of March 2022, with the final two protocols required before the Flare launch. This will then allow us to proceed with the Flare launch…” 

After launching its network validator code, Flare announced that it would distribute FLR tokens to XRP holders between October 24, 2022, and November 6, 2022.

Despite scheduling a date for FLR distribution, the team behind the project said the exercise would be determined by its ability to attract a good number of validators.

“Provided sufficient validators have taken up their role, the Token Distribution Event will take place between 24th October and 6th November.” 

Recall that NEXO confirmed support of the FLR airdrop on OCT 6th.

Binance also affirmed support for Spark airdrop on Nov 2020, but after the announcement, the Spark Airdrop Program was canceled since FLR became the native token of the Flare Network instead of Spark. Binance, at that time, said they would make a new announcement in support of the FLR airdrop.

Has Ethereum Founder Vitalik Buterin Accidentally Given Birth To A New Meme Coin?

Mark Brennan
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Has Ethereum Founder Vitalik Buterin Accidentally Given Birth To A New Meme Coin?

Buterin accidentally gives life to a new meme coin.


In a tweet last Friday, Ethereum founder Vitalik Buterin sharing what can only be described as a random thought, joked that a project called “THE Protocol” should be created. According to Buterin, it would be easy to shill by referencing any mention of THE by influential community members.

Well, like clockwork, moments later, THE Protocol (THE), an ER20 protocol, came to life. And unsurprisingly, the Twitter admins of the new meme coin have taken a cue from THE Ethereum founder by shilling the token whenever someone influential uses the word ‘THE’.

As reported by Nansen, THE has taken a leaf out of the Shiba Inu playbook, opting to give 10% of its supply to Vitalik Buterin, making him the largest token holder with 100 million THE. Notably, the new meme coin has managed to attract the attention of some popular Ethereum investors and surged 1000% in 24 hours on Tuesday.

Remarkably, THE is already listed on Hotbit and MEXC Global in less than six days. Moreover, it has already attracted a market cap of over $6 million.

It is a testament to how far the crypto community will go in search of excitement, especially as markets have been consolidating for months. Notably, few things are more exciting than meme coins in the crypto space, which can be very volatile and print huge gains based on little to no utility other than the fact that people are talking about it.

CoinGecko data shows that THE is already up 97.7% today, trading at the $0.03352854 price point. 

It is worth noting that investors have to exercise a great deal of caution with projects like these as they carry substantial risk, with only early investors most likely to benefit.

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