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TRON Surpasses $5 trillion in Total Transfer Value

Albert Brown
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TRON Surpasses $5 trillion in Total Transfer Value

 

Total Transfer Value On TRON Surpasses $5 trillion.



Tron remains one of the most sought-after blockchains in the crypto industry, as it promises high throughput and low fees. Being an open-source chain with built-in smart contract functionality, the Tron blockchain is right up there with its competitors. Recently, Tron appears to have hit a new milestone, as the total transfer value of the network surpasses $5 trillion.

Founder of Tron, Justin Sun, disclosed the feat on Twitter Thursday, taking data from TronScan – the official explorer of the Tron blockchain. According to TronScan, the total transfer value of Tron currently sits at $5.2 trillion. This metric indicates the worth of all the transfers carried out on the Tron chain from birth to date. The data from TronScan also shows a 24-hour increase of $7.9 billion in transfer value as of press time.

 

Additionally, there appears to be an addition of 128,336 accounts to the Tron blockchain in the past 24 hours. This brings the total number of accounts to a whopping 109 million. Furthermore, the total transactions carried out on the chain is currently 3.7 billion, with over 4 million transactions in the past 24 hours.

The Tron blockchain has seen magnificent growth since its inception. With a total value locked (TVL) of $5.7 billion, Tron is the second largest blockchain by TVL. The network is only second to Ethereum, which boasts a TVL of $34.25 billion at the time of reporting. 

Tron surpasses Binance Smart Chain, Solana, and Arbitrium, among others, making up 9.73% of the TVL of all chains. Tron’s remarkable accomplishment in terms of total value locked can be attributed to its several market protocols. Tron is home to protocols such as JustLend, SUN, JustStables, and SocialSwap.

Tron is the most energy-efficient blockchain.

Besides its feats in the blockchain industry, Tron appears to be the most friendly chain to the environment. TheCryptoBasic previously reported that Tron emerged as the most energy-efficient blockchain, per Crypto Carbon Ratings Institute (CCRI) research. 

According to the CCRI report, Tron’s annual energy consumption rate sits at a meager 162,868 kWh. This value is about 99% less than Bitcoin’s yearly consumption rate of over 83 million kWh.

Amidst these accomplishments, TRX – the native token of the Tron blockchain – seems to be holding its own in the markets. TRX retains its position as the 15th largest crypto-asset by market cap, per data from CoinMarketCap. The asset currently trades at $0.062, with a slight decline of 2.1% in the past 24 hours. 

XRP Becoming Whales Favorite As XRP Transactions Worth Billions Of Dollars Reported In August

Lele Jima
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XRP Becoming Whales Favorite As XRP Transactions Worth Billions Of Dollars Reported In August

 

Whale alert reported some major transactions of XRP among whales in august.



Such huge transactions can be a positive development for XRP as it demonstrates the increasing interest in XRP from whale investors.

In August, The Crypto Basic kept reporting about some enormous XRP transactions worth billions of dollars, moved by Ripple, crypto exchanges, and unknown wallets.

Growing Whale XRP Transactions

Interestingly, it has now become routine to see the movement of large amounts of XRP between exchanges and unknown wallets in recent times. 

In August alone, whales shuffled XRP worth billions of dollars.

Such a tremendous activity is an optimistic sign for XRP as it displays the prominent appeal of large investors in holding XRP.

404 Million XRP Shuffled in 24 Hours.

Aside from the usual 1 billion tokens unlocked today from Ripple Escrow, as reported by The Crypto Basic, Whale Alert also observed the movement of large XRP among whale investors. Per data shared by Whale Alert, a total of 404 million XRP were shuffled between unknown addresses and some cryptocurrency exchanges. 

180M XRP moved from one unknown wallet to another.

One investor moved 50M XRP away from the crypto com exchange.

 

Roughly three hours ago, a total of 40 million XRP ($13 million) were sent to the Bitstamp exchange, while 60 million XRP coins ($19.6 million) were also moved from another unknown wallet to Bitso. 

 

74.6 million XRP coins, worth around $24.45 million at the time of the transaction, were sent from the Bitso exchange to an unknown wallet. 

 

John Richmond Showcases New Illustration of Shiba Inu Partnership Ahead of Milan Fashion Week 2022

Albert Brown
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John Richmond Showcases New Illustration of Shiba Inu Partnership Ahead of Milan Fashion Week 2022

 

Fashion Designer John Richmond Showcases Illustration of Shiba Partnership.


John Richmond seems just as excited about his partnership with Shiba Inu as the Shiba community. 6 months later, the excitement has not waned. The 62-year-old English Fashion Designer recently showcased an illustration of his iconic partnership with the meme coin. This comes three weeks before the Milan Fashion Week 2022.

The Milan Fashion Week 2022 is set to begin on September 20. Recall that John Richmond’s partnership with Shiba Inu includes a public display of the physical versions of the duo’s NFT collection dubbed “Legends Live Forever” at the Milan Fashion Week 2022.

Taking to Twitter, John Richmond posted an illustration of the partnership between his brand and Shiba Inu in the late hours of Wednesday. The fashion designer added the tag, “we keep it Rock’n’roll,” with mentions of the NFT collection.

 

The recent illustration appears to be a reminder that the Milan Fashion Week 2022 comes up this month. Furthermore, it could indicate something new the designer is brewing with Shiba Inu.

His partnership with Shiba was the first of its kind and gave both brands much-needed recognition – Richmond’s popularity sieved to the crypto industry, and Shiba Inu got introduced to the fashion industry.

In light of this, it would not be surprising if the accomplished designer sought to expand this partnership. Additionally, most of Richmond’s recent tweets have carried the SHIB tag and the tag of his NFT collection with Shiba #LegendsLiveForever.

The Shiba Inu team announced the partnership with John Richmond in February, as previously reported by TheCryptoBasic. As a product of the collaboration, a release of 10,000 John Richmond and Shiba Inu NFTs was announced. The collection was dubbed “Legends Love Forever.” The duo also revealed that the physical versions of the NFTs would be on display at the Milan Fashion Week 2022.

A month later, on March 16, Richmond unveiled the first NFT in the collection – Shiboshi #1040. The NFT was a dog of the Shiba breed with a halo. 

As Reported By The Crypto Basic, Richmond Revealed Shiba Inu Clothing Tags in June this year.

Dogecoin Founder Billy Markus Trolls Saylor For Over-Glorifying Bitcoin

Mark Brennan
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Dogecoin Founder Billy Markus Trolls Saylor For Over-Glorifying Bitcoin

The Dogecoin founder seems fed up with Microstrategy CEO Michael Saylor’s continuous promotion of Bitcoin.



Billy Marcus, the co-founder of Dogecoin, has again slammed Michael Saylor for continuously promoting Bitcoin. 

It all started after Saylor made a tweet yesterday, saying that “Bitcoin (BTC) is a miracle happening right before our eyes.” 

The tweet got several engagements from both Bitcoin proponents and other altcoins enthusiasts, including Dogecoin co-founders. 

Marcus Response

Based on Saylor’s recent tweet, Marcus said Bitcoin is more of a miracle “than childbirth.” However, he suggested that Saylor should sell his kids for Bitcoin. 

“Sell your kids and buy bitcoin,” Marcus said. 

Furthermore, Marcus noted that he does not believe Bitcoin is the most interesting thing in the universe’s history. 

“Arbitrary hash strings are literally the most interesting thing in the history of the universe,” Marcus concluded. 

 

Saylor’s Widespread BTC Promotion

The Dogecoin founder seems fed up with Saylor’s continuous glorification of Bitcoin, which he considers excessive. Saylor has always promoted the world’s largest cryptocurrency by 24 hours trade volume. 

The MicroStrategy founder always takes advantage of any opportunity he gets to promote the widespread adoption of Bitcoin, as he believes the asset class will usher in financial freedom for all. 

Being a Bitcoin maxi, Saylor has refused to be associated with any other cryptocurrency. 

In May 2021, Saylor said it is unwise to bequeath Dogecoin to one’s grandchildren. 

”I don’t think you’re going to want to leave Dogecoin to your grandson or your granddaughter,” Saylor said in an interview in response to Elon Musk’s public endorsement of the meme coin.  

In another interview, Saylor also refused to comment on Shiba Inu (SHIB) and Dogecoin. 

“I have no opinions about one dog coin vs. another dog coin. I stay in my lane, Emily. Bitcoin,” he said. Saylor’s continuous promotion of Bitcoin prompted the Dogecoin founder to ask him if he has a life outside the top asset class.  

“Michael Saylor do you have any interests or activities or do anything at all other than Bitcoin,” Marcus said. 

Cardano IOG Says It Is Close To Clinching All Set Metrics To Trigger The Vasil Upgrade This Week

Mark Brennan
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Cardano IOG Says It Is Close To Clinching All Set Metrics To Trigger The Vasil Upgrade This Week

 

The Vasil hard fork is closer than ever.


In a tweet on Wednesday, as part of its midweek update on the progress with the Vasil hard fork upgrade, Input Output Global (IOG), the development team behind the Cardano network reveals that it is close to clinching all 3 set metrics to judge the community’s readiness for the upgrade.

“This week, we’re well on our way to hitting our indicators. Over 80% of SPOs have upgraded and more than 70% of the top DApps we’re tracking have confirmed successful pre-production testing,” the team writes.

 

In addition, IOG notes that exchanges are also working on updating their nodes. According to the team, the Cardano Foundation is in daily contact with these exchanges, providing support. It noted that two more exchanges confirmed readiness for the upgrade on Wednesday, with 27 others in the process, 5 of which it says are in the top 10 for ADA liquidity.

Again the team emphasizes its focus on getting things right with the upgrade as it asserts that the Vasil hard fork is the most significant Cardano upgrade to date. 

The three metrics being tracked by IOG are; the percentage of mainnet blocks produced by the final node version, for which the team set the bar at 75%, and the number of upgraded exchanges for which the bar is set at 25 to represent about 80% of liquidity, and the upgrade of the top 10 dApps on the network by TVL. On Monday, the team disclosed the network had met the first requirement.

In response to the latest updates from IOG, several users expressed excitement, while others questioned why Coinbase is yet to start the process of updating its nodes.

 

The long-anticipated Vasil hard fork was first slated for lunch at the end of June but has since faced several delays. Notably, the most recent delay at the end of July came after bugs were discovered in node 1.35.0 that led to the creation of 3 different software scripts, with IOG finally settling to go ahead with version 1.35.3 for the upgrade.

The upgrade promises to improve the network’s scalability and throughput through pipelining while improving dApps and smart contract capabilities through changes to the Plutus script.

Famous Cryptocurrency Analyst Says Terra Luna Classic (LUNC) Will Never Reach $1

Lele Jima
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0
Famous Cryptocurrency Analyst Says Terra Luna Classic (LUNC) Will Never Reach $1

 

Poppe believes LUNC investors will never see the price of crypto at $1. 


Michaël van de Poppe, a famous cryptocurrency analyst and the founder of Eight Global, has dashed the hopes of Terra Luna Classic (LUNC) investors, who expect the coin’s price to hit $1 again. 

In a recent tweet, Poppe said LUNC investors would never see the price of LUNC at $1 again, despite the recent massive coin rally. 

Poppe commented in response to a Twitter user who said: 

“I have 3,000,000 LUNC bought at the very bottom. I will have a heart attack if it ever reaches $1 again.” 

Responding to the comment, Poppe said seeing LUNC at $1 “will never happen.” 

When asked to state the reason for his prediction, he urged the user to “use simple math.” 

LUNC’s Recent Impressive Rally

Luna Classic has had an impressive rally in the past week. In the past seven days, the LUNC value has surged 133.5%. The cryptocurrency has also soared 143% in the last 14 days. Additionally, LUNC is also up 50% in the past 24 hours.  

At the time of writing, LUNC is changing hands at around $0.00024065, according to data on Coingecko. 

The massive spike in LUNC values surprised many, given that the cryptocurrency was abandoned by TerraForm Labs (TFL) after its value plummeted. 

Recall that the TFL team launched a new chain and tokens as part of its effort to compensate investors for their losses, despite the community kicking against the move.

LUNC Investors’ Burn Program 

LUNC investors urged the Terra team to burn part of the token’s supply to get its price flying again.  

However, with TFL ignoring these calls, investors chose to burn some token units themselves. LUNC holders collectively agreed to transfer some amount of the cryptocurrency to an inferno address. So far, over 3 billion LUNC have been sent to the address. 

Aside from the series of community burns, a proposal was passed to burn 1.2% of all LUNC transactions. Despite getting 93% votes, the proposal is yet to be implemented. 

However, LUNC investors have continued to engage in community burn to boost the asset’s price. 

As Part Of Asian Market Push, Ripple Becomes Strategic Partner Of btrax Japan Offering Web 3 Design Solutions

Mark Brennan
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As Part Of Asian Market Push, Ripple Becomes Strategic Partner Of btrax Japan Offering Web 3 Design Solutions

 

Ripple Becomes Strategic Partner Of btrax’s Japan To offer design services using the XRP Ledger for Web 3 startups In Latest Asian Market Push.


Ripple will offer design services using the XRP Ledger for Web 3 startups in Japan.

In a press release today, btrax Japan disclosed that Ripple is now a strategic partner of its Web3 Design Lab, which plans to improve the visibility and reach of Japanese Web 3 businesses in the global market by connecting it to Silicon Valley.

 

The press release notes that through the partnership, Ripple will spread the use of the XRP Ledger in Japan and Asia. In addition, Ripple will serve as a design partner to several Japanese startups, providing design services using the XRP Ledger.

“For nearly a decade, Ripple has been a trusted technology partner for companies seeking cryptocurrency and blockchain solutions to accelerate their business. In addition, XRPL, a decentralized public blockchain, is used as the industry’s highest standard blockchain that provides enterprise-grade payment functions and token issuance and management functions.This strategic partnership is the Web3 project in the global market, this confirms the usefulness of XRPL in supporting the acceleration of ICT,” Ripple Vice President of Strategy and Operations Emi Yoshikawa noted.

It is worth noting that Ripple has continued to build its global presence, with the spotlight on Asia in recent days. A week ago, The Crypto Basic reported that Ripple is set to provide low-cost cross-border settlements from Japan to the Philippines using its On-Demand Liquidity (ODL) in partnership with Coin.ph and OK Remit.

It shows that legal woes in the US have not slowed down the adoption of XRP globally. On Wednesday, The Crypto Basic reported that a Croatian Insurance firm is now accepting XRP for car insurance payments. Meanwhile, Santiment Feed recently reported that XRP is among the top crypto assets with the highest positive sentiment.

XRP is trading at the $0.326 price point, down 1.63% in the 24 hours.

Shiba Inu Burns Picking Momentum, 3.78 Billion Shib Burnt In August, 461M In 24 Hours, 219M In One Transaction: Details

Zabi
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Shiba Inu Burns Picking Momentum, 3.78 Billion Shib Burnt In August, 461M In 24 Hours, 219M In One Transaction: Details

3.78 Billion Shiba Inu (SHIB) Burned in August 2022, 461.13 Million in Past 24 Hours, 219 Million in One Transaction.



Over 3.78 billion Shiba Inu (SHIB) tokens were burned in August 2022, while over 461.13 million SHIB tokens were burned on the August final day. One of the Community-led burn initiatives incinerated 219 million Shiba Inu tokens in a single transaction in the past 24 hours.

The SHIB Burn released a monthly burn figure and reported a whopping total of 3,785,744,343 (3.78B) SHIB had been sent to the dead wallet by the Shiba Inu Community in August with 528 separate transactions.

The newly emerged token ShibaBae, and 1Cent token, Travis Johnson’s SHIB Super Store, contributed a major part towards the SHIB Burn and are recognized as the “Top SHIB Burners of the Month.”

ShibaBae Burn Events:

ShibaBae, a newly launched BEP-20 token showing solidarity with the Shiba Inu Community to reduce Shiba Inu’s total circulation supply, organized three Burn Events in August 2022. The token made its first-ever SHIB Burn on August 10th and sent a total of 139,854,341 (139.85M) to the “inferno” address in one significant transaction. Following this, the ShibaBae organized its second Burn Event on August 27th and burned another 160,549,026 (160.54M) in a single transaction. The Community-led Burn initiative incinerated another whopping 219,000,000 (219M) SHIB in one noteworthy transaction in the past 24 hours.

In total, the ShibaBae token has set fire to a massive sum of 519,403,367 (519.40M) in August 2022.

1Cent Token Burn Events:

1Cent, one of the tokens dedicated to burning Shiba Inu, organized Five Burn Events per week in August 2022. It destroyed a gigantic total of 286,013,545 (286.01M) SHIB through five separate burn transactions.

The Community-led project burned 82,681,787 (82.68M) SHIB on August 1st, 31,231,639 (31.23M) on August 8th, 41,451,405 (41.45M) on August 15th, 40,000,000 (40M) on August 22nd, and 90,648,714 (90.64M) on August 29th, 2022.

Travis Johnson’s SHIB Super Store Burn Events:

Travis Johnson’s SHIB Super Store managed to become the third biggest SHIB Burner of the month as the Community-led Burn Initiative sent a total of 222,052,009 (222.05M) to the “inferno” addresses in five separate transactions using SHIB Burn Portal in the month of August 2022.

SHIB Super Store is used to organize a Weekly Burn Event every Sunday. SHIB Super Store has set fire to 42,658,017 (42.65M) on August 1st, 47,774,375 (47.77M) on August 7th, 39,555,189 (39.55M) on August 14th, 45,999,663 (45.99M) on August 21st, and 46,064,765 (46.06M) on August 28th, 2022.

Past 24 Hours Burn:

The Burn Rate for Shiba Inu (SHIB) has surged 198.59% in the past 24 hours as ShibaBae Token burned 219 million SHIB in one significant transaction.

SHIB Burn Rate
SHIB Burn Rate

Overall, the Community managed to destroy a whopping total of 461,130,600 (461.13M) SHIB through 55 separate transactions in the past 24 hours, Shibburn.com reports.

Ripple Unlocks 1 Billion XRP From Escrow

Albert Brown
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0
Ripple Unlocks 1 Billion XRP From Escrow

As part of its monthly unlock program for XRP, Ripple has unlocked another one billion units of XRP from three different escrow wallets. 


Popular cryptocurrency whale tracking service, Whale Alert, observed Ripple’s recent XRP unlock from various escrow wallets, which took place in three different transactions. 

Per Whale Alert, the first transaction saw Ripple unlock the sum of 500 million XRP from an escrow wallet. At the time of the transaction, the funds were worth $163.52 million. 

At the same time, Ripple unlocked another 300 million XRP, worth $98.11 million, from a different escrow wallet. 

Lastly, Ripple unlocked a total of 200 million XRP, valued at around $65.41 million. 

Ripple Token Unlock Program

The Ripple community has gotten used to news of monthly XRP unlock. Recall that in 2017, Ripple locked 55% of the total XRP supply in a series of escrows to bolster the asset class’s value. The development propelled the price of XRP to reach an all-time high of $3.4 in early 2018. 

With a large percentage of XRP locked in escrow, Ripple noted that it would release 1 billion units of the locked XRP monthly to cater to the company’s monthly operations. Since then, Ripple has not looked back. However, due to the ongoing lawsuit between Ripple and the SEC, the Silicon Valley tech company usually locks back a large percentage of all new coins released from escrow.  

Although the company has not yet locked some of the newly released XRP tokens, the transaction is expected to occur later today.

Binance.US Launches Staking For Cardano (ADA)

Mark Brennan
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Binance.US Launches Staking For Cardano (ADA)

 

Binance.US users will now be able to stake their ADA on the leading US exchange.



Binance.US, the US arm of the world’s largest crypto exchange, Binance, on Wednesday announced that customers can now stake their ADA on the platform to earn up to 6.1% APY at launch with no unstaking period for which users have to keep their assets locked to earn rewards.

“Customers can now stake Cardano (ADA) and earn up to 6.1% APY at launch. Get paid weekly when you stake ADA and unstake anytime to access your funds in an instant — with no unstaking period,” the leading crypto exchange writes in its announcement.

Notably, users can stake a minimum of 0.01 ADA and a maximum of 4,400,000 ADA. Cardano’s ADA joins assets like AUDIO, AVAX, BAND, BNB, ATOM, LPT, MATIC, DOT, SOL, and GRT that are available for staking on the exchange.

The listing on Binance.US is a win for ADA. Notably, the exchange is the 3rd largest in the US behind Kraken and Coinbase, with over $278 million in trading volume in the last 24 hours. In addition, it is well known for its security and low fees.

It bears mentioning that Cardano also received staking support from Coinbase in March. The leading exchange offered users a 3.75% APR at launch. Notably, the announcement drove the asset price above the $1 mark, from around $0.8.

It is worth noting that Cardano is on the brink of an important upgrade dubbed the Vasil hard fork. Historically, Cardano upgrades have led to bullish price moves and increased demand across exchanges. ADA’s latest listing for staking on Binance.US and before that, Coinbase is a sign that the demand for the asset is on the rise in the US, where the asset already has a strong following.

Notably, sentiment around the crypto network has been increasingly positive, with Santiment Feed reporting that it is at levels last seen in March. Additionally, as recently reported by The Crypto Basic, the network was ranked as the number one crypto brand in terms of brand intimacy. 

Cardano is trading at the $0.4504 price point, up 0.81% in the last hour but down 2.6% in the last 24 hours.

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