Home Blog Page 2268

317 Million XRP Shuffled Among Ripple, Exchanges, and Unknown Wallets

Albert Brown
-
0
317 Million XRP Shuffled Among Ripple, Exchanges, and Unknown Wallets

 

Whale Alert continues to track large movements of XRP coins among whales. 



It has become a norm to see large movements of Ripple (XRP) transfers from addresses on popular cryptocurrency exchanges to unknown wallets and vice versa. 

Whale Alert, a cryptocurrency whale tracking platform, tweeted that a total of 317,836,767 (nearly 317.84 million) XRP were shuffled in the last 24 hours. 

The transactions involved popular cryptocurrency exchanges like Bitstamp, FTX, and Bitso. At the current exchange rate, the funds were worth $106.54 million. 

Details of the XRP Movement

According to Whale Alert, a total of 30 million XRP coins were sent from an unknown wallet to an address on the Bitstamp exchange. The funds were worth approximately $10.04 million at the time of the transaction. 

Interestingly, it did not take long before Whale Alert noticed another large movement of XRP. The funds moved from an FTX address to an unnamed crypto wallet this time.  

Per transaction details shared by Whale Alert, 120 million XRP worth $40.15 million were transferred from FTX exchange to an unknown wallet. 

Ripple Also Involved in Latest XRP Movement

Meanwhile, Ripple was involved in the latest round of XRP shuffling as the Silicon Valley tech company transferred 60 million XRP coins to an unknown wallet. 

At the time of the transaction, Whale Alert noted that the funds were worth $20.76 million. 

It is worth noting that the vast majority of XRP transfers involving Ripple are sold to the company’s On-Demand Liquidity (ODL) clients. 

The number of Ripple’s ODL clients has skyrocketed recently, prompting the company to purchase XRP from secondary markets to meet their needs. 

Other Large XRP Transfers

Furthermore, the cryptocurrency whale tracking service observed the movement of 40 million XRP coins ($13.68 million) from an unknown wallet to a Bitstamp address. 

In a reverse transaction, a total of 37,836,767 (37.83 million) XRP, worth around $12.86 million, were transferred from another Bitstamp address to an unknown wallet. 

Finally, 30 million XRP were sent from an unknown wallet to the Bitso exchange, with the funds worth $10.18 million at the time of the transaction. 

Dogecoin Users Set To Access Smart contracts And dApps On Ethereum Soon

Mark Brennan
-
0
Dogecoin Users Set To Access Smart contracts And dApps On Ethereum Soon

 

After Five Years Of Building, Dogecoin Bridge With Ethereum (wDoge) Enters Final Stages Of Development.



Dogecoin users will soon be able to access a flurry of smart contracts and dApps on the Ethereum network.

In a tweet on Monday, DogeDesigner, UX/UI and graphics designer at Dogecoin Foundation and MyDoge Inc., revealed developers will launch the long-awaited Doge-ETH bridge (wDoge) later this year.

“The bridge is being developed since 2017 and is finally ready to launch later this year,” the designer writes in his thread.

Notably, it will allow Dogecoin to be sent as Ethereum-compatible wrapped tokens to the Ethereum blockchain. Consequently, users will soon be able to access a flurry of smart contracts, DeFi protocols, and NFT marketplaces on the Ethereum network. Developers reveal in a blog post that the bridge is inspired by WBTC, the bridge with the highest total value locked (TVL), and has never been the subject of an exploit.

It is worth noting that developers are building the bridge due to the limitations in Dogecoin’s scripting language, making it challenging to host many decentralized protocols. The team reveals that it collaborated with Google Web3 cloud engineer Ross Nicoll, Ethereum founder Vitalik Buterin and Solidity lead developer known as Chriseth on Github on the project.

The team further said that the bridge is expected to go live this year.

“After many years of working on the Dogecoin-Ethereum bridge, we expect to launch the wDoge bridge in 2022, enabling doge users to use smart contracts, DeFi protocols, NFT marketplaces, etc.”

The Dogecoin community has been awash with exciting developments in recent times. Most recently, The Crypto Basic reported that Dogecoin had launched its C library known as LibDogecoin. The programming library is a significant achievement as it will allow developers to quickly build Dogecoin-integrated products for various platforms.

Notably, as highlighted in the blog post, the community continues to receive support from influential figures in the crypto space, including Buterin and billionaire Elon Musk. Musk recently reiterated his support for the meme coin project and asserted that Dogecoin could process more transactions than Bitcoin.

It appears that these recent developments have not gone unnoticed by whales. For example, Santiment noted on Tuesday last week that whale activity on the Dogecoin network had increased frequency.

Dogecoin is trading at the $0.06728 price point, down 16.34% in the last seven days.

William Volk to Showcase Shiba Inu Game at the World’s Largest Gaming Event

Lele Jima
-
0
William Volk to Showcase Shiba Inu Game at the World’s Largest Gaming Event

The Shiba Inu game consultant will attend the gaming event to showcase the capability of Shiba Eternity.


Shiba Inu gaming consultant William Volk has announced that he will attend the upcoming Gamescom, the world’s largest video game trade fair. 

Volk recently disclosed on Twitter that he would attend the trade fair to showcase the Shiba Inu play-to-earn (P2E) game dubbed Shiba Eternity. 

The gaming developer veteran also gave an insight about the game to keep the Shiba Inu community anticipating. 

“Off to Gamescom to show off #ShibaEternity (it looks so good!),” Volk tweeted. 

He added an image to the tweet, showing two bags he intends to take to the Gamescom trade fair while asking SHIB enthusiasts to guess what could be in the bag. 

“Guess what’s in the bottom bag. (The hint is on the top bag),” he added. 

It is noteworthy that this year’s Gamescom event is scheduled to run from August 24, 2022, to August 28, 2022.   

Gamescom is a video game trade fair held yearly in Cologne, Germany. The event is organized by an association of the German video game industry. A segment of Gamescom is dedicated to video game development named Devcom. 

Gamescom is considered the world’s largest gaming event by its exhibition space and number of visitors. In 2018, the number of visitors who attended the event was 370,000, while 1,037 exhibitors from 56 countries were also in attendance. 

Volk hopes to drive mainstream adoption of Shiba Eternity when the game eventually launches. 

As reported by TheCryptoBasic, with Shiba Inu game developers expecting massive adoption of Shiba Eternity, they increased the game server capacity by 50x to onboard more players. 

“Wow, we had to increase the gameplay server capacity FIFTY-FOLD to deal with the players coming in from the Vietnam test launch,” Volk noted in a tweet. 

Shiba Inu’s Partnership With Volk

Recall that Shiba Inu lead developer Shytoshi Kusama announced a partnership with Volk last year. According to the announcement, Volk was appointed Shiba Eternity Consultant, who will work directly with the game developers, AAA Game Studio. 

Volk’s addition to the Shiba Inu ecosystem was primarily applauded by the community, given his expertise in game development. In 1991, Volk became VP of Technology at Activision and later co-founded the first game launched on the Apple Store. 

Mark Cuban Blasts SEC Chief For Saying “No Reason To Treat Crypto Market Differently From Capital Markets” 

Mark Brennan
-
0
Mark Cuban Blasts SEC Chief For Saying “No Reason To Treat Crypto Market Differently From Capital Markets” 

 

Mark Cuban calls out Gary Gensler for statements in his now controversial WSJ Op-Ed.


Billionaire Mark Cuban took to Twitter on Monday to call out the chair of the US Securities and Exchange Commission (SEC), Gary Gensler, for his claims about the crypto market in a recent Wall Street Journal opinion piece.

“Come in and talk to who ? Set up an appointment how ? You using Calendly these days ? Since you understand crypto lending/finances, why don’t you just publish bright line guidelines you would like to see and open it up for comments ?” Cuban tweeted.

In Gensler’s now controversial opinion piece, the SEC chief claims there is no reason to treat the crypto market differently from capital markets. He asserts that the crypto market remains subject to securities law and urges industry stakeholders to speak with the SEC to gain clarity.

The SEC’s Dodgy Tactics

It is worth noting that the hesitance of the SEC to publish clear guidelines on the parts of the crypto markets it feels fall under its purview has been a cause for concern. Instead, the SEC has chosen to adopt a stance of regulation by enforcement. In addition, despite frequent statements by Gensler that the SEC is accessible and willing to discuss with industry participants, several reports have indicated that when industry participants reach out to the SEC, they get little or nothing in response but threats of lawsuits. 

Notably, this was the case with Coinbase Lend in September last year.

Cuban’s Rocky Past With The SEC

In July, Cuban had also expressed concern about what the future could hold for the crypto industry should the Gensler-led SEC become primary regulators. The statements came following the decision of the SEC to tag specific cryptocurrencies offered for trading on Coinbase as securities in a lawsuit against a former product manager accused of insider trading. According to Cuban, it would be a nightmare.

Notably, there is no love lost between Cuban and the US SEC, as the SEC in 2014 sued Cuban for insider trading and lost.

The Crypto Community Responds

Meanwhile, Cuban is not the only crypto supporter to take issue with Gensler’s latest opinion piece. XRP holders representative in the ongoing legal battle between the SEC and Ripple, Attorney John Deaton, in response, released an opinion piece on Fox Business, accusing the Gensler-led SEC of overreach in its campaign against crypto. In addition, Dogecoin creator Billy Markus under Cuban’s tweet, sarcastically quips, “i am glad there are so many super clear guidelines for all this stuff after 10 years of it existing.”

Notably, under Gensler’s tweet, several users in the comments express a general distrust for the SEC and Gensler. For example, one user responds, “You have lost all trust with retail Gary; stop tweeting.”

University of Johannesburg Taps Blockchain to Issue Certificates for Short-Term Programs 

Lele Jima
-
0
University of Johannesburg Taps Blockchain to Issue Certificates for Short-Term Programs 

A famous South-African university has leveraged blockchain technology for certificate issuance. 

The University of Johannesburg has become the first tertiary institution in South Africa to leverage blockchain technology in the issuance of diploma certificates. 

The University of Johannesburg will be issuing certificates for short-term training programs using blockchain. Notably, the initiative is important as it helps graduates of the institution to easily forward their certificates to prospective employers via the digital form. 

Before now, the University of Johannesburg became the first university in the country to issue digital certificates. However, the tertiary institution has leveraged the emerging technology, blockchain, to bolster the level of security and easy authenticity of certificates. 

Per the announcement, all short-term training program certificates will have special QR codes. The QR codes can be easily scanned using a smartphone by anyone, including prospective employers, who want to verify the certificate’s authenticity. 

The school is planning to issue 30,000 blockchain-based certificates to different students by the end of the year. 

Commenting on the development, Tinus van Zyl, director of administration at the University of Johannesburg, said the school has been working on various ways to boost the security of educational documents in the last 10 years. 

Also commenting on the initiative is Jaco du Toit, deputy director of the University of Johannesburg’s Cyber ​​Security Center. 

According to Toit, with certificates now hosted on the blockchain, the inputted data cannot be changed, adding that the initiative will contribute to improving the educational sector.  

“If all higher education institutions start issuing diplomas based on the blockchain, with the help of which graduates can quickly confirm their qualifications, they will make a significant contribution to the fight against document forgery,” Toit added. 

The issuance of blockchain-based certificates is a step in the right direction to actualize the school’s goal of combating fraudulent educational certifications. 

UK FCA-Registered Blockchain Custodian Company Now Supports Binance Smart Chain

Mark Brennan
-
0
UK FCA-Registered Blockchain Custodian Company Now Supports Binance Smart Chain

UK FCA-Registered Blockchain Custodian Company Now Supports Binance Smart Chain.



Leading blockchain assets custodian provider, Digivault, part of the EQONEX Group, has recently added support for the Binance Smart Chain contract, allowing users to hold BEP20 compatible cryptocurrencies on their accounts starting from BNB. 

According to the official announcement, the recent development adds to the company’s list of adopted protocols in 2022, with each chain subject to thorough scrutiny before accepting the assets on the platform

As a digital asset custody provider registered under the Financial Conduct Authority Anti Money Laundering (FCA AML) of the United Kingdom, the authority that accesses every asset before incorporating it into the platform to protect consumers’ interests. This investigation ensures that  Digivault holds only high-quality assets in the protocol, according to the standard of the FCA. 

“It is fundamental that all assets go through a thorough Asset Assessment to ensure that as a Financial Conduct Authority Anti Money Laundering (FCA AML) registered business, we are doing all we can to protect the consumer. A robust due diligence process is just one aspect of why clients seek to work with FCA-registered custodians,” said Tom Griffiths, the Chief Compliance Officer at Digivault.

The company had earlier secured a partnership with Binance Connect (Bifinity UAB), a payment division of the leading global crypto exchange Binance, through its parent company, EQONEX Limited. 

Regarding the latest addition, Rob Copper, chief executive officer at Digivault, noted that the company has been working closely with Binance Connect (Bifinity UAB) since earlier this year. 

“We have been working closely with the Binance Connect / Bifinity team since our strategic partnership was announced and are thrilled to add BNB Chain to our portfolio of assets that we support. I am excited at what the next 12 months will bring and am positive that the BNB Chain will play a central role,” he said. 

Even Peter Brandt Cannot Ignore Shiba Inu

Albert Brown
-
0
Even Peter Brandt Cannot Ignore Shiba Inu

 

Popular crypto trader Peter Brandt is now talking about Shiba Inu.


SHIB is a meme coin that has come up so fast as to post a threat even to the pioneer meme coin, Dogecoin. A lot of people are now engaged with Shiba Inu, and now, the coin seems to have caught the attention of Peter Brandt.

Granted, the coin has attracted some of the biggest whales in the industry, with a good number of whales accumulating Shiba Inu in large amounts. Top 100 Ethereum Whales Now Hold 11.96 Trillion Shiba Inu Worth $155M.

Can It Hold On?

In his recent tweet, Peter shared a Shiba Inu chart that might help shed light on what the meme coin is up to price-wise. According to Peter, Shiba Inu needs to hold above the neckline to maintain a price balance and avoid capitulation. That said, the coin is still down 20% over the last seven days. That may represent a bearish sentiment, but it can be reversed if the coin holds above the said neckline, as intimated by Peter Brandt. 

According to the legendary trader, shib is bullish as long as it holds the line drawn by Peter on the chart; if the coins hold the trend line, then it is the letter B (Buy), but if the trend line is violated, then we can adopt a different letter that comes later in the alphabet, which is the letter S, which means Sell.

“With SHIB hold above neckline support, or will we need to drop the letter “B” and adopt a different letter that comes later in the alphabet.”

 

Shiba Inu is currently trading at around $0.00001296.

Top US Exchange Kraken Adds Support For Cardano (ADA) Futures Contracts

Albert Brown
-
0
Top US Exchange Kraken Adds Support For Cardano (ADA) Futures Contracts

 

Kraken Announces Support For Cardano (ADA) Futures Contracts.



ADA users can now use the coin to initiate futures contracts on Kraken.

It’s good news for the Cardano community as ADA finally gets support from one of the biggest crypto exchanges. Until now, ADA holders weren’t able to use the coin to initiate futures contracts on Kraken.

Now, all that is possible, as announced by Kraken on Twitter. Futures contracts represent an agreement made between a buyer and a seller to a transaction with regard to a particular commodity, in this case, a digital asset, at a specified price at a pre-determined time in the future. Futures exchanges facilitate this trade.

With Kraken’s support, ADA holders can now access over 40 futures contracts on the exchange platform. This comes ahead of the planned Vasil upgrade on the Cardano network this year. Also, Cardano CEO Charles Hoskinson has expressed intentions to fix any issues that may have been carried over from the original Cardano setup. However, he’ll do that after the Vasil upgrade.

According to the exchange:

“New collateral live: Use ADA to get exposure to over 40 futures contracts now!”

 

 

To get started with the ADA-based futures contracts on Kraken, ADA holders will need to transfer their coins from their spot wallet to their future wallet. After that, they can use their ADA to initiate futures contracts of their liking. Meanwhile, ADA seems to be struggling to maintain its price range at around $0.45.

CoinShares CSO Says No New Capital Coming To Buy Ethereum As Merge Approaches

Albert Brown
-
0
CoinShares CSO Says No New Capital Coming To Buy Ethereum As Merge Approaches

 

Ethereum Merge Will Fundamentally Change the Demand and Supply Dynamics of Ether, but no new capital is coming to raise ETH prices, Says Meltem Demirors.


Popular female cryptocurrency proponent and Chief Strategic Officer at CoinShares  Meltem Demirors said in an interview with CNBC that Ethereum’s migration to a Proof-of-Stake (PoS) consensus mechanism would fundamentally change the supply and demand dynamics of the Ethereum protocol. 

The CoinShares officer noted that one of the fundamental issues of Ethereum’s transition is that crypto traders are looking at the merge as an “upside catalyst for Ethereum while she looks at the transition as an “event in isolation.” 

“I think one of the fundamental issues is people looking at the merge as an upside catalyst while I look at the merge as an isolated event,” she said.

 

The Ethereum protocol is anticipated to move to a PoS chain between September 15 and 19, making it more secure and less energy-intensive. 

Demirors further explained that there are high speculations among the Ethereum community members that the merge will potentially increase the demand for the assets, thereby improving the price of the virtual currency. But, to her, not enough new capital will come to Ethereum to raise prices.

“While internally there’s a lot of enthusiasm within the crypto community around the merge… I don’t think there’s a lot of new capital coming in to buy Ethereum on these changed fundamentals.”

 

BTC vs Altcoins For Automated Trading, Which Ones Are Better?

Mark Brennan
-
0
BTC vs Altcoins For Automated Trading, Which Ones Are Better?

The trading world is full of confusing concepts that are a bit hard to comprehend for novice traders. One of them is automated trading, also known as algotrading, which means utilizing computer algorithms in order to carry out trading procedures. The computer program includes a set of predefined instructions such as time, volume, and price and automatically generates orders based on this premise.

These robots are built with advanced mathematical and statistical computations as well as modern technical analysis, so they guarantee precise results all the time. Due to this reason, automated trading has become a highly popular method for a lot of traders and they wish to find out more about this process. One of the most frequently asked questions about this subject is whether to use Bitcoin or any other cryptocurrency. Even though it is not easy to directly answer this question, experts are suggesting traders go for BTC for algotrading.

The most obvious reason is that Bitcoin is the most popular crypto in the world and currently, it has the highest value. The market evolves around this cryptocurrency and its price alterations drive altcoins to change as well. Hence, trading robots work well with Bitcoin, and most probably, you will experience the best possible outcome in this case.

Why You Should Choose Bitcoin Over Altcoins for Algotrading

Before we jump on explaining the benefits of BTC over altcoins when it comes to algotrading, we would like to briefly explain what this process looks like. Algotrading, as the name implies, is a way of generating trades utilizing computer algorithms that follow a predefined set of instructions.

The benefits of algotrading are tremendous since you will be able to experience a lot faster income that no human is capable of achieving. Also, this process completely rules out human feelings that might have both positive and negative outcomes, but most importantly, algotrading increases the liquidity of the market.

Given the immense prospect of algorithmic trading, it should come as no surprise that the majority of traders have embarked on this opportunity. The major concern they have is whether it is better to use BTC or altcoins in this process. While the answer is not 100% precise to this question, professionals still recommend choosing Bitcoin.

The first and foremost argument is that the market moves in accordance with Bitcoin. The price movement of this crypto affects every other asset and we can firmly say that the overall market is influenced by BTC. The current crash is a perfect example of this since Bitindex AI states that the price devaluation of Bitcoin has induced significant implications. That’s why trading robots are constructed in a way that they follow Bitcoin and examine its price movement.

It is much easier for them to sell the asset when Bitcoin price hits a certain level compared to other cryptocurrencies since all of them are influenced by this one. For instance, the predefined instructions help trading robots configure when to buy or sell BTC when it hits specific numbers. They might be much better in this process compared to humans since our emotions get in the way most of the time and it brings highly negative results.

As for the altcoins, we have already noted that their values are mainly influenced by the Bitcoin price. Given the fact that Bitcoin has drawn one of the lowest numbers in recent years, other cryptos followed its path as well. Due to this reason, it is recommended to trade Bitcoin with trading robots rather than altcoins.

Future of Algotrading

Algotrading has certainly brought tremendous benefits for the majority of traders from all over the world. Some people even think that trading bots might completely replace human labor and do all the work for us in the future. Despite the fact that more than 90% of trades were executed by trading robots in 2022, there are still some question marks regarding their prospects.

The advantageous side of algotrading is clear since they help to carry out trades even when you are sleeping. However, keep in mind that they are only useful if you wish to trade short-term since robots are generally scalpers operating within a day or two. Also, the lack of human emotions can have both beneficial and disadvantageous effects on traders. While it’s true that robots help to remove the anger, fear, and greed of human traders, sometimes it is crucial to use intuition and your gut feelings in this process.

That’s why a vast number of experts think that algotrading will not completely substitute human labor. However, the benefits of trading bots are immense and they will always be useful if you are willing to carry out short-term trades. Hence, the future of automated trading is extremely bright and every trader should be involved in this task!

1...2,2672,2682,269...2,637Page 2,268 of 2,637