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Cardano (ADA) Vasil Hard Fork Finally Goes Live

Lele Jima
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Cardano (ADA) Vasil Hard Fork Finally Goes Live

Cardano’s much anticipated Vasil hard fork is live now, with all three “critical mass indicators”  met. This upgrade is a crucial milestone in Cardano’s roadmap and will enable the network to move forward with its plans to become a leading smart contract platform. 

In preparation for the hard fork, IOHK has been working closely with exchanges and other ecosystem partners to ensure a smooth transition.

According to a blog post, Vasil is set to enhance several aspects of the Cardano blockchain, making it faster and more sophisticated. This will enable applications built on Cardano to become easier to build upon while improving the user experience. It will also enhance the network’s scaling capabilities and lower transaction fees.

Exchange Readiness

Even though the upgrade has been delayed twice, IOHK has been working closely with exchanges and other ecosystem partners to ensure a smooth transition. Last month, Cardano developer Adam Dean said that the testnet for blockchain was “catastrophically broken” due to a compatibility problem with the current version of client software. Dean warned people that if there were something like a “nuclear clock” for Cardano, it would be very close to hitting midnight.

So far, 13 exchanges have confirmed their readiness for the hard fork, representing over 87% of Cardano’s liquidity.

Coinbase is the only major exchange still listed as “in progress” on IOHK’s ecosystem readiness page. However, the exchange’s recent tweet has suggested that it will soon support the fork, stating that ADA transactions will be closed for maintenance “for the Cardano Vasil hard fork.”

More than 98% of mainnet blocks are now being created by the updated nodes, while the blockchain’s top decentralized applications (DApps) have also confirmed their readiness.

In the seven days since news of the upgrade was announced, social media chatter about ADA has increased by almost 40%, third behind Ethereum and Ripple (XRP).

 

Shiba Inu Shares More Interesting Details About Shiba Eternity, Says 5% of the Game’s Profit Will Be Burnt 

Lele Jima
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Shiba Inu Shares More Interesting Details About Shiba Eternity, Says 5% of the Game’s Profit Will Be Burnt 

The team behind SHIB has released more exciting details about the upcoming P2E game.


Following the launch of Shiba Inu’s Play-to-Earn (P2E) game in Australia, the team behind the project has continued to share more details about the game.

In an announcement made by lead developer Shytoshi Kusama on the official Shiba Inu channel, the team intends to give back to the SHIB community via various projects, including Shiba Eternity.

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Image Source: https://twitter.com/gossipshib

 

Giving back to the community through Shiba Eternity will see the team set aside 5% of every profit made from gameplay, which will be used to burn the native cryptocurrency, SHIB.

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https://twitter.com/gossipshib

Notably, the community has a pivotal role to play in facilitating the burning of more Shiba Inu tokens. According to Kusama, the community must first download Shiba Eternity in their numbers before the team pushes the game to the list of the top-ranking games in various app stores. This would attract gamers outside the SHIB ecosystem to also download the game.

“With your help by simply downloading the game, we will be able to push the game to the top of the app stores and hopefully generate more revenue from gamers outside the SHIB community,” Kusama added.

Calls to Burn More SHIB

Members of the Shiba Inu community have contributed immensely to the burn program, with billions of SHIB tokens permanently incinerated from the supply. 

Despite billions of SHIB destroyed, members of the SHIBArmy have continued to call on the team to also join the ongoing burn program.

Kusama noted that the move became imperative following the massive call from the community to burn SHIB. “Occasionally I get messages like BRO, burn the entire SHIB supply,” Shytoshi said in a Discord post shared by pseudonymous Gossip Shib.

However, he acknowledged that it would cost the team billions of dollars to burn SHIB and boost the price of the cryptocurrency. Based on this, the team has decided to always burn SHIB using 5% of every profit made via gameplay.

“To burn [more SHIB], we have to implement a plan like the one you are seeing. It’s funny we’re working on that, [but] burning billions of dollars is no easy task. Trust me,” he added.

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https://twitter.com/gossipshib

Founder of Gokhshtein Says He Should Have Got More XRP Instead Of Memecoins

Albert Brown
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Founder of Gokhshtein Says He Should Have Got More XRP Instead Of Memecoins

 

Founder of Gokhshtein Media Regrets Not Amassing More XRP as the Asset Hits a 4-Month High.


David Gokhshtein, former US Congressional candidate and founder of Gokhshtein Media, has expressed his regret for not purchasing more XRP, as the asset has gained by over 34% in the past week.

XRP, the native token of Ripple, has been the people’s favorite for a while now, partly due to Ripple’s legal tussle with the SEC. The majority of the crypto community hopes for a final ruling in Ripple’s favor, as a ruling against the firm could create a domino effect in the crypto scene, leading to more PoS assets being regarded as securities.

Amidst the proponents of XRP, David Gokhshtein appears the most vocal. The 40-year-old media personality is known for promoting XRP, as he keeps reiterating his intent to cup more of the asset. Gokhshtein took to Twitter to express his regret for not purchasing more of the asset, swiping at some “meme tokens.”

“I should have got more $XRP rather than these f’ing meme tokens,” Gokhshtein said, radiating an aura of regret. Gokhshtein’s remark comes barely three days after he noted that he was looking to get “more bags of XRP” in a tweet, as previously reported. The tweet followed the hint of a conclusion of Ripple’s legal battle with the SEC.

Gokhshtein is known for his incessant comments on meme coins. Although he has not particularly revealed the meme tokens in his portfolio, the ex-US Congressional candidate has indicated that he has amassed a few of them on several occasions. He has also shown support for Shiba Inu and Dogecoin.

Notwithstanding, unlike XRP, Gokhshtein has not been the best fan of Terra Classic (LUNC) despite its recent massive rally. He commented on the LUNC hype through his official Twitter handle on September 6, asserting that the asset is a “lottery ticket” without any utility. 

XRP’s Recent Bear Market Rally

Gokhshtein’s recent remark on XRP comes at a time when the asset is seeing an outstanding increase in its value. As of press time, XRP is currently trading at $0.44. The last time XRP visited the $0.44 territory was in May, when the fall of the markets began due to the Terra collapse and unfavorable macro.

The asset has gained by over 9% in the past 24 hours, with a massive 34.78% increase in the past week. XRP’s rally comes at a time when the broader crypto market is experiencing a downtrend, with BTC and ETH respectively declining by 5% and 18% in the past week.

XRP appears to be the only-gaining risk asset on the top 24 list of biggest cryptocurrencies in the past seven days. The asset’s market capitalization has also surged to $22B for the first time since early May, as it maintains its sixth position on the list of largest assets by valuation.

Revolut Adds Support for Shiba Inu (SHIB) and 28 Cryptocurrencies to Serve Its U.S. Clients

Lele Jima
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Revolut Adds Support for Shiba Inu (SHIB) and 28 Cryptocurrencies to Serve Its U.S. Clients

Revolut has expanded its cryptocurrency offerings in the United States. 

According to an announcement today, Revolut, a crypto-friendly digital banking startup, has added Shiba Inu (SHIB) alongside 28 other cryptocurrencies to its existing list of supported crypto assets. 

The company noted that the development comes following a partnership with Apex Crypto, a leading provider of cryptocurrency services. 

With the development, Revolut has more than quadrupled its crypto asset offerings in the United States, thus giving its customers access to a variety of coins and tokens, Mazen Eljundi, Revolut’s global business head for crypto, said. 

To celebrate the milestone, Revolut announced that its clients are entitled to zero-commission trading of up to $200,000. Furthermore, Revolut is planning to roll out full-staking services for the newly added cryptos soon. 

SHIB Cleared, But Some Tokens Still Undergoing Regulatory Scrutiny

Aside from Shiba Inu, the other cryptocurrencies that made the list include Solana (SOL), Dogecoin (DOGE), and Avalanche (AVAX), among others. At the moment, none of the newly added coins or tokens have been classed as security by the Securities and Exchange Commission (SEC), a move that will help solidify Revolut’s position as a major crypto broker in the U.S., thus rivaling top companies like Coinbase. 

However, some of the tokens are still yet to be approved for trading by the New York Department of Financial Services (NYDFS). 

Revolut’s Expansion in the U.S.

Revolut has been expanding its U.S. footprint in recent times and has partnered with leading crypto companies to achieve this goal. In 20202, Revolut partnered with Paxos to offer crypto custody services. However, the partnership was terminated last month, prompting Revolut to assure its clients that the decision would open doors for more features and functionalities.  

SHIB’s Popularity Earns It Another Listing

Meanwhile, it is not surprising to see Shiba Inu on the list, given the massive popularity the digital currency has enjoyed over the years. SHIB is currently among the trending cryptocurrencies and has been added to top cryptocurrency trading platforms, including Robinhood. 

With Shiba Inu added as one of the tradeable crypto assets on Revolut, the token will be available to more than 7 million U.S. customers currently registered on the platform. 

 

California-Based Payment Company Adds Support For Shiba Inu, Enabling Merchants Worldwide To Accept SHIB

Zabi
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California-Based Payment Company Adds Support For Shiba Inu, Enabling Merchants Worldwide To Accept SHIB

More adoption for Shiba Inu.


Merchants From Over 220 Countries Can Now Accept Shiba Inu (SHIB) Along With 14 Other Cryptocurrencies as Payment amid California-Based Cloud-native Payment Company, Gr4vy Entered into a Strategic Partnership with the World’s Leading Cryptocurrency Payment Processor Company, BitPay.

Gr4vy, the leading company for cloud-native payments orchestration, recently entered into a strategic partnership with BitPay, the world’s leading cryptocurrency payment processor, to allow its merchants to easily accept the world’s most popular canine-themed cryptocurrency SHIB along with 14 other major cryptocurrencies as payments through BitPay’s checkout offering.

The list of cryptocurrencies includes BT, ETH, DOG, SHIB, BCH, WBTC, LLTC, APE, EUROC, and 5 USD-pegged stablecoins GUSD, USDC, USDP, DAI, and BUSD. BitPay also supports XRP in certain countries.

The decision comes in response to the fact that consumers are now ever more interested in paying with digital currencies. Gr4vy also took note of a recent survey conducted by the industry-leading audit, consulting, tax, and advisory services provider Deloitte in collaboration with PayPal, which reveals that around 75% of merchants are ready to accept cryptocurrency payments within the next two years.

Founded in 2020, Gr4vy is a cloud-native payments company that helps businesses manages their payment solutions from anywhere. The company is based in California, USA. The company’s intuitive, cutting-edge payment orchestration platform (POP) leverages the power of the cloud to modernize payments infrastructure and empower merchants – without the hassle or need for large payment teams.

Cardano Founder Says Only Few Hours Left In Vasil Upgrade As Staked Cardano Reaches 25B ADA

Albert Brown
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Cardano Founder Says Only Few Hours Left In Vasil Upgrade As Staked Cardano Reaches 25B ADA

Cardano Network Status Hours Before Vasil Upgrade Shows Over 25B ADA Staked.


 

A status report of the Cardano network a few hours before the Vasil upgrade indicates that the community has staked over 25B ADA thus far, representing 73% of the asset’s total supply.

The Ethereum Merge has successfully launched, but the crypto community eagerly anticipates the next big upgrade: Cardano’s Vasil Hard Fork. The Vasil upgrade is slated for September 22, and, with just a few hours left, founder Hoskinson took to Twitter to bring the community to speed on the network’s status.

“Roughly 9 hours to Vasil. Everyone ready?” Charles Hoskinson, the founder of Cardano, said in a tweet Thursday. The American entrepreneur further shared a dashboard indicating Cardano’s network status on pooltool.io.

 

According to the status report, 25.06B ADA tokens have been staked, which is 73.91% of the asset’s total supply of 33.9B. Additionally, the report indicates that there are currently 2,976 active pools on the chain, with at least one Lovelace staked as of press time.

Furthermore, Cardano is currently running on epoch 364, which would end in about 8 hours at the reporting time. The end of the current epoch is expected to usher in the Vasil upgrade. In addition to this, the number of total staked addresses on the network is currently sitting at 1,212,056.

The Cardano Vasil upgrade will be triggered about 8 hours before writing. Consequently, the entire crypto community expects the changes it promises, which include higher throughput and better scalability. In this regard, Binance recently declared support for the Hard Fork.

Top Crypto Analytics Platform Shows “Good Bottom Signal” For Bitcoin

Mark Brennan
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Top Crypto Analytics Platform Shows “Good Bottom Signal” For Bitcoin

Santiment: Bitcoin (BTC) Social Dominance Historically Suggests “A Good Bottom Signal.”


The crypto data platform suggests that Bitcoin is currently at a good bottom signal.

Santiment, a leading cryptocurrency data analytics platform that tracks the activities of the top 2,000 coins and tokens, said Bitcoin’s recent social dominance is a good sign that the asset class is approaching its bottom. 

“BTC social dominance has spiked, which is historically a good bottom signal,” Santiment noted in a tweet today. 

BTC’s dip saw a surge in negative comments about Bitcoin to a month high, Santiment added. At the moment, Bitcoin’s bleeding has stopped as investors have decided not to rapidly short the coin on exchanges.

Bitcoin Fluctuates After Fed Raised Rates

It is noteworthy that the price of Bitcoin dropped to a three-month low yesterday after the Federal Reserve hiked interest rates to curtail the country’s inflation. 

Jerome Powell, Chairman of the Fed, said the United States apex bank would continue to raise rates until inflation goes down to 2%. His comments resulted in the plunge of various assets, including Bitcoin. The world’s largest cryptocurrency dipped to a 24-hours low of $18,262 yesterday, according to data from Coingecko. 

Over 63 Billion Terra Classic Staked In 5 Days As KuCoin Stakes 50 Billion LUNC In A Single Day

Mark Brennan
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Over 63 Billion Terra Classic Staked In 5 Days As KuCoin Stakes 50 Billion LUNC In A Single Day

Terra Luna Classic (LUNC) staking continues to spike.



In a tweet today, LUNC staking, a bot account on Twitter dedicated to tracking LUNA Classic (LUNC) staking activity, reveals that over 629 billion LUNC has been staked so far, representing 10.237% of the total supply.

Additionally, the latest data represents a 63 billion increase over the last five days.

The Crypto Basic reported last Saturday that the total amount of staked LUNC had surpassed 566 billion. It bears mentioning that the increased staking of LUNC tokens is a good sign for the network showing a positive long-term investors outlook leading to reduced circulating supply and selling pressure.

Notably, KuCoin, a leading crypto exchange according to data from Smart Stake Analytics, staked a whopping 50 billion LUNC yesterday. The reason for the move currently remains unclear. However, it significantly increased the staking power of the exchange to 8%, placing it among the top 5 validators by voting power. The move indicates that there may be some long-term belief in the future of the asset that necessitates increased influence.

It bears mentioning that resuming staking was one of the first moves made by the LUNC community after assuming control of the network as they chart a path to recovery following the Terra ecosystem collapse in May. Staked LUNC attracts up to 37.8% in rewards and is locked for 21 days. There is no minimum limit placed on deposits.

Meanwhile, the 1.2 tax parameter change for on-chain LUNC transactions went live yesterday. So far, over 100 million LUNC has been burnt to reduce LUNC supply, with most of the volume coming after KuCoin implemented the tax for deposits and withdrawals.

LUNC is trading at the $0.0002864 price point, 0.38% higher in the last 24 hours, as the crypto markets appear to be recovering after the Fed’s 75 basis points rate hike.

Binance Confirms Support For Cardano (ADA) Vasil Upgrade

Mark Brennan
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Binance Confirms Support For Cardano (ADA) Vasil Upgrade

The world’s biggest exchange says it will support the Cardano Vasil upgrade.


 

The Cardano Hardfork will occur at epoch 365, or approximately at 2022-09-22 21:45 (UTC).

 

Binance says that the ADA trading will not be affected, the exchange will handle all technical requirements, and Cardano hard fork will not result in any new tokens. All deposits and withdrawals will be closed by the exchange and reopened once the network is upgraded and stable.

Cardano’s founder has also ensured that the Vasil rocket is in the air and there will be no more delays.

Attorney Deaton: Ripple CEO “Said Something XRP Holders Don’t Want to Hear” Regarding Lawsuit

Mark Brennan
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Attorney Deaton: Ripple CEO “Said Something XRP Holders Don’t Want to Hear” Regarding Lawsuit

What Brad Garlinghouse can possibly say that XRP holders do not like?



Deaton believes XRP holders do not want to hear Ripple CEO’s Brad Garlinghouse prediction on when the lawsuit will make the final decision.

In a recent interview, Brad Garlinghouse gave a timeframe on when the lawsuit between Ripple and the Securities and Exchange Commission will likely come to an end. The Ripple CEO said Judge Analisa Torres might rule on the final outcome of the lawsuit within 2-9 months. Garlinghouse is suggesting that there is a likelihood that the lawsuit may likely end by June 2023.

Attorney Deaton’s Reaction to Garlinghouse’s Prediction

Reacting to Garlinghouse’s comment, attorney John Deaton, the lawyer representing over 72,000 XRP holders in a class action against the SEC, says the Ripple CEO may have angered XRP investors with his statements. 

“Brad said something XRP Holders don’t want to hear. He said a decision from the judge could be anywhere between 2-9 months,” Deaton said. 

Deaton added that Garlinghouse may have gotten the information from his lawyers, who currently represent him in the lawsuit. However, Deaton does not believe a lawsuit of this magnitude could end in just two months.

“[Garlinghouse] clearly has asked his lawyers. No way it only takes two months,” he added.

According to Deaton, the earliest date for the final verdict on the Ripple vs. SEC lawsuit will be by the end of March 2023. It is noteworthy that March 2023 corresponds with a similar prediction made by former U.S. defense lawyer James K. Filan.

 

“Furthermore, Deaton said there is a possibility that the lawsuit could end between late April. The earliest would be the end of March. I think it could take until late April / early May.2023 and early May 2023,” Deaton concluded.

XRP holders may have been unhappy with Ripple’s CEO over his predictions because they eagerly anticipate the lawsuit to end soon to stabilize the price of the cryptocurrency and possibly get it back on track. Still, the court will proceed according to laws and will take its time.

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