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Wanchain Upgraded Bridge Now Includes Crosschain XRPL Tokens

Albert Brown
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Wanchain Upgraded Bridge Now Includes Crosschain XRPL Tokens

XRPL Wanchain Bridges Now Include Cross-chain Transfers for Other XRPL Assets in Recent Upgrade.



Wanchain has introduced a bridge upgrade that will allow the transfer of other XRPL assets across multiple chains.

Blockchain bridges have become a crucial aspect of cryptocurrencies, as they provide a sort of universality that benefits holders of assets native to certain chains. Wanchain, one of the most robust blockchain-bridge solutions, remains a top dog within the scene.

Eighteen months after its decentralized XRP bridge launch in April of 2021, Wanchain is introducing an upgrade that will allow the bridging of other assets native to the XRP Ledger (XRPL) across chains.

The initial stage of the upgrade will provide support for four XRPL assets, which include Bibliomp ledger token (xBIBLx), NVL Token (NVL), XList Coin (XLIST), and GreenZoneX (GZX); Wanchain announced via its Twitter handle and official blog post. All four tokens are built on XRPL.

 

Per information from the announcement, the possible bridge routes for GZX include the hybrid blockchain XinFin, Ethereum, BNBChain, XDC Network and Wanchain. Users will also be able to bridge XLIST, NVL, and xBIBLx across two more chains, including XinFin and Wanchain.

According to the blog post:

“GZX (Green Zone)

  • XRPL <> Ethereum
  • XRPL <> BNBChain
  • XRPL <> XDC Network
  • XRPL <> Wanchain

xBILBx

  • XRPL <> XDC Network
  • XRPL <> Wanchain

XList

  • XRPL <> XDC Network
  • XRPL <> Wanchain

NVL

  • XRPL <> XDC Network
  • XRPL <> Wanchain”

Wanchain noted that this recent upgrade was prompted by the massive growth of the XRP Ledger and the consequent surge in the number of tokens built on the network. Due to the rising adoption rate, XRPL has matured to secure its position as one of the world’s largest blockchains.

Recall that Wanchain introduced the first-ever decentralized XRPL bridge in April 2021. The initiative allowed XRP users to bridge their XRP tokens with dApps on the versatile Ethereum blockchain and the Wanchain network. This recent upgrade will provide support for other XRPL tokens.

Launched in 2017 by blockchain entrepreneur Jack Lu, Wanchain has a mission to provide the cryptocurrency industry with reliable and robust bridge solutions. In April, Wanchain partnered with the hybrid blockchain solution XinFin to launch bridges for XinFin’s native token, XDC.

In the same month, The Crypto Basic reported Wanchain’s intentions to deploy cross-chain bridges for Cardano in a new partnership. The partnership will also see Wanchain serve as a sidechain to Cardano.

Dormant Wallet Moves 500 Bitcoin After 7 Years

Albert Brown
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Dormant Wallet Moves 500 Bitcoin After 7 Years

500 Dormant BTC Tokens Moved After 5 to 7 years.



A large amount of Bitcoin (BTC) tokens – about 500 – are set on the move after 5 to 7 years of dormancy.

Amidst the tenacious bear market, Bitcoin’s price action (BTC) has not particularly pumped elation into the cryptocurrency scene. Despite these unpropitious conditions, most long-term holders remain positive, as the market has seen few asset movements. Notwithstanding, not all holders are willing to leave their assets dormant for much longer, as recently indicated.

About 500 BTC aged between 5 and 7 years have been recently moved after years of dormancy. The tokens, which were moved to an unidentified wallet as of press time, were cupped between 2015 and 2017, CryptoQuant author and market watcher, Maartun revealed.

“500 BTC with the age between 5y ~ 7y has moved in the last block. These coins are bought between October 2015 & October 2017, making them OG coins,” Maartun Verified Author of Crypto Quant disclosed in a tweet Friday. The accomplished analyst further shared a chart to support his claim.

 

As seen on a close-up version of the CryptoQuant Bitcoin: Spent Output Age Bands, about 500 BTC tokens purchased between 2015 and 2017 were recently moved after remaining inactive since their purchase.

This marked the largest single movement for BTC assets aged 5 to 7 years in almost a month, following the awakening of over 2,000 BTC tokens on September 19.

Usually, investors move their dormant tokens when they intend to sell them off. Consequently, large whale movements in the market have historically contributed to waves of FUD within the crypto community. 

Despite being in a bear market, should the holders of the assets enforce sell-off plans, their trades would still be in profit, considering the current value of BTC at the time of reporting. 

The assets were amassed between October 2015 and October 2017, indicating that the highest value for which the assets were procured would be around $5,800 – Bitcoin’s highest value between October 2015 and October 2017.

It remains unsurprising that this whale movement coincides with a recently-engineered BTC relief rally. Despite the recent worrisome CPI data report, BTC and the rest of the crypto markets have staged an unexpected relief rally that has seen the firstborn crypto gain by over 7% in the past day.

Bitcoin comfortably trades above the support at $19k, as it changes hands at $19,700 as of press time. The asset has gained by 7.10% in the past 24 hours, carrying the rest of the crypto markets on its back, as most mainstream assets see massive gains.

Bitcoin’s recent relief rally follows a troubling dip that came alongside the U.S. CPI report on Thursday. The 7% rise in 24 hours must have prompted the recent whale movement. Despite this data, the markets remain unfazed as of press time. 

Last month, Glass node noted that the BTC supply that has remained dormant over the last year hit an all-time high of 12.5M BTC tokens. The data indicated that about 66% of Bitcoin’s circulating supply had been unmoved for over a year, notwithstanding the terrible market conditions.

Yesterday  Plan B commented that nearly 50% Of all Bitcoin holders were in Loss; for him, it is a proven Indicator Of BTC bottom Since 2011.

As reported by The Crypto Basic, 15000 dormant BTC were moved in the first ten days of September.

Crypto.Com and Blockchain.Com Move to Block Russian Accounts Following EU Sanctions

Albert Brown
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Crypto.Com and Blockchain.Com Move to Block Russian Accounts Following EU Sanctions

Exchanges Crypto.com and Blockchain.com notify Russian users of account restrictions in response to recent EU sanctions.


Due to its sustained attacks on Ukraine, Russia has been at the receiving end of Western sanctions imposed on the transcontinental country to dissuade its actions.

The latest batch involved a restriction of Russian digital asset wallets to check Russian usage of cryptocurrencies as the citizens seek to circumvent previously imposed sanctions. Following this latest batch, exchanges Crypto.com and Blockchain.com are two of the latest entities to comply.

Blockchain.com notified its Russia-based users of an imminent restriction on their accounts via an email, as first reported by The Block. According to the email, the Luxembourg-headquartered exchange has suspended its custodial and rewards offerings to its Russian customers.

Blockchain.com gave all potentially affected customers till October 27 to pull out their funds in the respective areas before an eventual imposition of the restriction. Affected customers have already been restricted from accruing any more rewards as of press time.

According to Blockchain.com, the decision is in compliance with the recently-introduced batch of sanctions from the European Union against Russian nationals concerning digital asset wallets.

Similarly, Singapore-based exchange Crypto.com has complied with the latest EU sanctions. Notwithstanding, Crypto.com appears to have taken a harsher approach. The exchange has already placed a restriction on Russian wallets, per information from emails dated October 14.

The emails received by affected Russian nationals from Crypto.com provide no instructions on funds withdrawals before the implementation of the restriction. 

Recall that the European Union launched its eighth sanctions on Russia on October 6, as previously reported. The sanctions tightened several economic restrictions and completely banned Russian digital asset wallets. Previous sanctions had limited crypto holdings to €10,000 for Russian wallets.

The sanctions were an attempt by the EU to ensure that Russia does not circumvent economic sanctions in traditional finance by leveraging cryptocurrencies and blockchain technology. Notwithstanding, Russia’s CBDC plans remain underway.

Following reports of the latest sanctions, Canada-based blockchain entity Dapper Labs enforced restrictions on Russian wallets, citing compliance with the EU sanctions. The platform froze assets stored in Russian wallets on October 7 – a day after the EU introduced the sanctions.

Crypto.com and Blockchain.com are the latest to comply with EU sanctions.

Mysterious Wallet Burns 116 Million Shiba Inu, 132 Million Shib Destroyed In 24 Hours

Zabi
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Mysterious Wallet Burns 116 Million Shiba Inu, 132 Million Shib Destroyed In 24 Hours

Shiba Inu Burns continues at a rapid pace.



Shiba Inu’s burn rate skyrockets by 590.44% as the mysterious wallet burned 116.47 Million coins while 132.06 Million SHIB were burned via 14 separate transactions in 24 hours.

According to the report, the mysterious wallet has sent a staggering 61,526,340 (61.52M) SHIB to the “inferno” addresses in two nonstop transactions executed about an hour ago.

According to Etherscan.io, the anonymous wallet burned the same amount, i.e., 30,763,170 (30.76M) of Shiba Inu tokens in each of the two transactions.

Anonymous Wallets Burned 116.47 Million SHIB in the Past 24 Hours
Anonymous Wallets Burned 116.47 Million SHIB in the Past 24 Hours

Before executing these two burn transactions, the same wallet incinerated 54,946,535 (54.94M) SHIB in one significant transaction about 10 hours ago.

In total, the wallet burned 116.47M coins alone.

As a result, the Shiba Inu burn rate skyrockets by 590.44%, while the total number of 24 hours burns stands at 132,068,912 (132.06M) SHIB.

Shiba Inu Burn Rate Skyrockets 590.44
Shiba Inu Burn Rate Skyrockets 590.44

 

As earlier reported by The Crypto Basic, the two biggest Shiba Inu Whales scooped up a whopping 256.98 Billion Shiba Inu, worth $2.71 Million in the past 24 hours.

The reduction in supply and the growth in demand pushed the Shiba Inu prices higher by 7.15% over the last day. At press time, Shiba Inu is trading at the price of $0.00001042 with a 24-hour trading volume of $424,450,690 ($424.45M).

Terra Rebels To Introduce More Effective Ways to Burn Terra Luna Classic (LUNC)

Mark Brennan
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Terra Rebels To Introduce More Effective Ways to Burn Terra Luna Classic (LUNC)

The group wants to accelerate ongoing Terra Classic (LUNC) burns.



In a tweet today, Terra Rebels disclosed that there is a need to create more effective ways to burn Luna Classic tokens (LUNC).

The official Twitter handle of Terra Rebels said they had a conversation with one of their associates committed to building LUNC, Demon Monkey 777, about introducing more ways to burn Terra Classic.

According to Terra Rebels, the conversation lasted for more than four hours, and the major point of focus was to create a more effective way to burn LUNC. Terra Rebels said the only way to achieve this is by creating utilities for LUNC that will see various decentralized applications (dApps) compete to burn more Luna Classic.

While the 1.2% tax burn has been instrumental in reducing LUNC’s total supply, Terra Rebels does not want to rely only on the initiative. The developers are seeking a more effective way to burn more LUNC tokens. It believes the only way to bolster LUNC burns is by creating “utility and building.”

Terra Rebels is a Terra community-based group that seeks to facilitate the revival of LUNC in one year. The group recently released an official LUNC roadmap to help revive the Terra classic cryptocurrency from Q2 2022 to Q2 2023.

Efforts to Revive LUNC Value  

The Terra Classic community has come a long way in its quest to revive LUNC value by reducing the total supply of Luna Classic.

Part of the initiatives LUNC investors have deployed to revive the value of LUNC is by implementing a 1.2% tax burn for all LUNC on-chain transactions. Several cryptocurrency exchanges have also launched efforts to reduce LUNC’s total supply. Still, only Binance committed to LUNC off-chain burns by burning its LUNC trading fees.

So far, over 18 billion Terra Luna Classic tokens have been burnt from the token’s total supply. However, many believe it will be difficult for existing burn efforts to revive LUNC in the short term, given the huge LUNC total supply of over 6.9 trillion. 

At the time of writing, LUNC is trading at $0.00028261, up 4.5% in the last 24 hours, according to Coingecko data.

Cardano Daedalus Wallet Gets New Upgrade With Improved Trezor And Ledger Integration Features

Mark Brennan
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Cardano Daedalus Wallet Gets New Upgrade With Improved Trezor And Ledger Integration Features

IOG has launched the latest version of the full-node Cardano wallet.



In a tweet on Thursday, Input Output Global (IOG) disclosed that it has rolled out the latest version of the Daedalus wallet, version 5.1.0.

Notably, the latest version of the full-node wallet comes packed with several new features. They include:

  • Two updates for improved hardware wallet integration.
  • An updated LedgerJS, including the upcoming Ledger Cardano app 5.0.0, Babbage support, and the Trezor Connect version 9 update.
  • Integrating cardano-wallet v2022-10-06, which fixes issues with few calculations.
  • Optional anonymous usage data collection to inform decisions on new features and bug fixes.

IOG states that users will receive a prompt to update their wallet via the Daedalus newsfeed. Meanwhile, new users are advised to download from the official website only.

As emphasized by IOG, Daedalus is a desktop-only wallet, and mobile wallets claiming to be Daedalus wallets are fraudulent.

It is worth noting that the latest update comes a little over a month after the previous upgrade. Notably, Daedalus 5.0.0 launched on September 8, supporting node 1.35.3 and, as such, offering Vasil compatibility while solving three major issues with the previous version.

It bears mentioning that the community has received the latest upgrade with mixed responses. While some have welcomed the hardware wallet integration features, others have highlighted that it is still yet to fix certain bugs associated with the wallet.

Notably, Charles Hoskinson, the IOG chief, last month in a YouTube video, suggested that the network may, in the future, do away with official wallets. Instead, according to the Cardano chief, the network will likely move to a phase where standards are created, so we have certified wallets versus non-certified ones.

Two Major Whales Scooped Up 256 Billion Shiba Inu As Price Rebounds Sharply

Zabi
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Two Major Whales Scooped Up 256 Billion Shiba Inu As Price Rebounds Sharply

Shiba Inu is, without a doubt, one of the favorite whale coins.


Two Biggest Shiba Inu (SHIB) Whales accumulated a whopping $2.71 Million worth of SHIB in the past 24 hours as the most popular canine-themed cryptocurrency bounces off from a critical support level located at $0.0000098 on the daily chart.

On Thursday, Shiba Inu made an attempt to crack the crucial support level ($0.0000098) on the daily chart, but thanks goodness it failed as two anonymous deep-pocketed Shiba Inu investors poured in a staggering $2,721,464 ($2.72M) to purchase 256,984,448,543 (256.98B) SHIB in three significant transactions, Etherscan.io reports.

50th Top SHIB Whale Accumulated $1.32 Million Worth of Shiba Inu

According to the data provided by Etherscan.io, the 50th biggest Shiba Inu Whale added an astounding 125,347,304,648 (125.34B) SHIB, worth $1,327,427 ($1.32M) in two separate transactions in the past 24 hours.

50th Top SHIB Whale Accumulated 1.32 Million Worth of Shiba Inu
50th Top SHIB Whale Accumulated 1.32 Million Worth of Shiba Inu

The 50th biggest Shiba Inu Whale became active about 16 hours ago and executed her first significant transaction to accumulate 61,745,998,727 (61.74B) SHIB, worth $653,890. A few hours the Whale increased her Shiba Inu holdings by adding 63,601,305,921 (63.60B) SHIB, worth $673,537, to her wallet in another robust transaction.

At press time, the key Shiba Inu investor holds a total of 1,258,951,223,156 (1.25T) SHIB, worth $13,319,703 ($13.31M).

7th Biggest SHIB Whale Bought $1.39 Million Worth of Shiba Inu:

The 7th Biggest Shiba Inu Whale woke up and purchased 131,637,143,895 (131.63B) SHIB, worth $1,394,037 ($1.39M) in one large transaction executed about 6 hours ago.

7th Biggest SHIB Whale Bought 1.39 Million Worth of Shiba Inu
7th Biggest SHIB Whale Bought 1.39 Million Worth of Shiba Inu

The key Shiba Inu Whale now holds a whopping total of 15,440,797,100,753 (15.44T) SHIB, worth $163,518,041 ($163.51M) in her wallet.

The massive interest in SHIB builds after the world’s second-biggest canine-themed cryptocurrency based on market cap dropped below a crucial support level, i.e., $0.0000098 to $0.00000927 yesterday.

Shiba Inus Attempt to Break Crucial Support Level Failed
Shiba Inus Attempt to Break Crucial Support Level Failed

However, following the massive accumulation from Whales, the price rebounds sharply, and at the time of writing, Shiba Inu is trading at the price of $0.00001055, up 6.68% over the last day with a 24-hour trading volume of $458,752,734 ($458.75M).

Events Ticket In Romania Can Now Be Bought With Bitcoin, Cardano and XRP

Lele Jima
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0
Events Ticket In Romania Can Now Be Bought With Bitcoin, Cardano and XRP

 

Binance continues to drive cryptocurrency adoption.


Entertix, one of the biggest ticketing platforms in Romania, has partnered with the world’s largest cryptocurrency exchange, Binance, to accept crypto as an alternative payment.

According to an announcement made by Binance founder Changpeng Zhao (CZ), Entertix will use Binance Pay to accept payment in various cryptocurrencies such as Bitcoin (BTC), Ethereum (ETH), Cardano (ADA), Binance Coin (BNB), Ethereum (ETH), Ripple (XRP) among other crypto assets.

“Binance Pay is now available on the biggest ticketing platform in Romania – Entertix,” CZ said in a tweet.

He encouraged cryptocurrency holders to use the solution to purchase tickets for several Romania-based events, including match game tickets of FC Rapid București.

“You can buy tickets for the team we sponsor [FC Rapid București] and many other events,” the Binance boss added.

Entertix is a Romania-based ticket sales and event management platform. The company offers sales of tickets for various events within Romania, including movie and sports tickets.

Binance Drives Crypto Adoption

The development is part of Binance’s unending efforts by Binance to drive cryptocurrency adoption across various parts of the world. Like other cryptocurrency payment providers, Binance is also at the forefront of pushing for wide acceptance of the nascent asset class as an alternative payment solution.

One of the ways the exchange fosters wide acceptance of cryptocurrency payments is through Binance Pay.

Binance Pay is a contactless payment system designed by the world’s largest cryptocurrency exchange. With this solution, users can spend, pay, and send cryptocurrencies to any part of the world in seconds.

At the moment, Binance Pay supports over 45 cryptocurrencies, such as ADA, ATOM, AVA, BCH, BNB, BTC, BUSD, CTSI, DASH, DOGE, DOT, EGLD, EOS, ETC, ETH, FIL, FRONT, FTM, GRS, HBAR, IOTX, LINK, LTC, MANA, MATIC, NEO, OM, ONE, PAX, QTUM, STRAX, SXP, TRX, TUSD, UNI, USDC, USDT, VAI, VET, WRX, XLM, XMR, XRP, XTZ, XVS, ZEC, and ZIL.

Binance Pay proffers solutions to traditional payment systems, such as fast and cheap transactions. With the unending benefits associated with Binance Pay, top businesses have adopted the system, including a top Ukrainian food chain retailer, Varus.

Binance pay also allowed 29 Shopping Malls and 13 hotels In UAE to accept crypto.

As reported by The Crypto Basic, Binance launched Binanace Pay in Feb 2021.

These DEXES Offering Best Farming Yields On Cardano, As Minswap Maintains DEX Top Spot By TVL

Mark Brennan
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These DEXES Offering Best Farming Yields On Cardano, As Minswap Maintains DEX Top Spot By TVL

 

Minswap, SundaeSwap, WingRiders, And ADAX Pro offer the best farming yields this Week On Cardano.


In a tweet today, ADA whale disclosed that Minswap, SundaeSwap, WingRiders, And ADAX Pro offered the best yields this week on the Cardano network.

As per the Tweet, Minswap offered yields of 93%, 78%, and 68% on the ADA/SOCIETY, ADA/MCOS, and ADA/NMKR pairs, respectively. While SundaeSwap offered yields of 68%, 66%, and 22% on the ADA/YUMMI, ADA/NMKR, and ADA/WMT pairs, respectively. Meanwhile, WingRiders offered yields of 108%, 43%, and 40% on the ADA/NMKR, ADA/AADA, and ADA/WRT pairs, respectively, with ADAX PRO offering a 47% yield on ADA/ADAX.

It bears mentioning that October has been a difficult month for protocols on the Cardano network as Total Value Locked (TVL) is in decline. Notably, losses felt in the first week have continued, as TVL has declined by nearly $7 million since the previous report. 

DeFi Llama data shows that TVL in 6 of the top 9 Cardano protocols has declined by at least 6% in the past week. Notably, third place SundaeSwap is the top loser, with its TVL declining by 12.98%.

The TVL of all protocols on the Cardano network currently sits at $67.93 million. Minswap continues its dominance, accounting for 51.15% of that value with $34.74 million.

It bears mentioning that Cardano’s TVL saw a temporary spike in September in anticipation of the Vasil hard fork. However, the excitement has been short-lived, as the TVL is now declining again as the bear market cycle continues in the face of macroeconomic concerns.

Ripple Moves 50M XRP, While Whales Shuffle 315 Million Coins As XRP Price Recovers

Lele Jima
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0
Ripple Moves 50M XRP, While Whales Shuffle 315 Million Coins As XRP Price Recovers

Huge XRP transfers have been reported in the past 24 hours as the XRP price rebounds.


It has become routine to see large volumes of Ripple (XRP) transferred among whale investors. These funds are usually shuffled between unknown wallets and leading cryptocurrency exchanges like Bitstamp and Bittrex.

Silicon Valley tech company Ripple sometimes gets involved in some of the large XRP movements. According to Whale Alert, a platform that tracks the movement of large amounts of cryptos, Ripple was involved in the latest rounds of XRP transfers.

Whale Alert data reveal that the blockchain company transferred 50 million units of XRP to an unknown wallet. The fund was worth around $24.39 million at the time of the transaction.

While the transferred amount is to an unknown wallet, it is worth noting that Ripple’s XRP transfer is mostly linked to the company’s On-Demand Liquidity (ODL) solution. 

As reported, financial institutions’ interest in the ODL solution has recently increased, with Ripple sometimes forced to purchase XRP from secondary markets to service these demands.

Other Massive XRP Transfers

Aside from Ripple’s transfer, Whale Alert also observed other large XRP movements by whale investors in the last 24 hours. 

A few minutes ago, an anonymous whale deposited 25 million XRP ($12.39 million) on the Bitstamp exchange.

One hundred million XRP ($50.05 million) were transferred from an unknown wallet to another unknown wallet.

Whale Alert observed the movement of 110.2 million XRP between two Bitso addresses and two unknown wallets.

Roughly 20 hours ago, 80 million XRP ($35.67 million) were withdrawn from Crypto.com by an unknown whale.

XRP is currently trading at $0.497, up almost 10% in 24 hours, according to Coinmarketcap data.

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