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Recent Developments in Ripple v. SEC Saga Suggest Lawsuit May End In Settlement Favoring XRP Investors 

Lele Jima
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Recent Developments in Ripple v. SEC Saga Suggest Lawsuit May End In Settlement Favoring XRP Investors 

Recent Developments in Ripple v. SEC Saga Suggest Lawsuit May End In Settlement.



Ripple (XRP) investors have waited patiently, hoping that the more than one-year lawsuit filed by the United States Securities and Exchange Commission (SEC) will come to an end in earnest. 

As they continue to hold the cryptocurrency, they have seen its price move back and forth based on developments in each court sitting. 

SEC Charges Ripple

According to reports, Ripple and two of its executives were charged in December 2020 by the SEC for conducting unregistered securities offerings in the United States. 

However, the charges have been constantly refuted by Ripple, as the company believes that it did not breach the company’s securities laws.  

With the case filed before a Federal Court, the SEC is poised to make an example of Ripple for breaching its laws, while the fintech company is not willing to succumb to pressure as it continues to throw everything it has to aid its defense. 

SEC Not Feeling Optimistic

Since the lawsuit started last year, multiple developments have emerged, with the majority favoring Ripple. Per comments made by Hester Peirce, an SEC commissioner, morale at the agency about the lawsuit is low, as the SEC does not feel optimistic that it will win the lawsuit. 

Knowing this, the SEC has continued to deploy delaying tactics to frustrate Ripple into negotiating a settlement in its favor. 

However, Ripple is not looking to settle for less. The blockchain company hopes to use the Fair Notice Defense and Internal SEC documents to prove that XRP is not a security. 

While the SEC fought relentlessly to protect its internal documents, like the 2018 William Hinman emails containing a draft of the former Director’s speech that Ethereum (ETH) is not a security, the agency was again ordered to make the documents available. 

With things not going in the SEC’s favor, it is expected that the agency will be forced to negotiate a settlement in order to avoid further embarrassment. 

If the SEC shows a commitment to reach a settlement, chances are, the agreement would favor Ripple. 

XRP Will Surge Above $2 Upon Settlement

For starters, all U.S.-based cryptocurrency-related businesses that halted support for the cryptocurrency following the lawsuit would have no choice but to add XRP among their offerings. 

Massive adoption of XRP will translate to a surge in the price of XRP to higher heights, with many analysts speculating that its value could surpass $2. 

At press time, XRP is changing hands at around $0.72, down 78.9% from its all-time high (ATH) of $3.4. 

The token’s value has suffered a significant dip mainly because of the argument on whether or not it is a security. Meanwhile, many financial experts are still optimistic that the case would end in a settlement in favor of Ripple, thus boosting XRP value. 

Blockchain-Based Health Data Platform DEVITA Taps Polygon for Speed and Affordable Data Management System

Lele Jima
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Blockchain-Based Health Data Platform DEVITA Taps Polygon for Speed and Affordable Data Management System

A healthcare data management platform is adopting Polygon for faster and cheaper data management.

 

DEVITA, a blockchain-based health data system, has announced that it has launched on the popular Ethereum Layer-2 scaling platform Polygon. 

According to a Polygon blog post today, DEVITA chose to opt for the Ethereum L2 network to bolster its operation, especially in enhancing the speed in accessing data and providing affordable transactions. 

With Polygon, the healthcare data platform can facilitate data transmission at a relatively low cost, thus providing efficient healthcare and personal data management for its growing user base. 

Reason DEVITA Opted for Polygon

Commenting on the development, Eric Choi, co-founder of DEVITA, said it was evident since the company’s early stages that Polygon’s unending benefits would be imperative in achieving its set goals, adding that joining the network marks an important achievement for the firm. 

“Ultimately, our vision is to create the intersection between blockchain technology and the right to better healthcare because that is what we find meaningful. Polygon’s network, with its capabilities, can be seen as the highway upon which that endeavor truly commences,” Choi added.  

Aside from enticing features on the Polygon blockchain, Choi noted that DEVITA would also gain exposure to millions of clients on the Ethereum Layer-2 network. 

The DEVITA System

DEVITA aims to optimize legacy healthcare processes using innovative technologies like non-fungible tokens (NFTs) and decentralized identifications (DID). 

The technology used by DEVITA focuses on adding the principles of data sovereignty to healthcare data management, to protect users’ medical conditions from being accessed by anyone. 

With the use of innovative technologies, DEVITA ensures that the healthcare data of its users are efficiently stored, transmitted, and exchanged in a secure and decentralized manner. 

Widespread Adoption of Polygon 

The Polygon network is currently one of the hottest layer-2 blockchains that have attracted the attention of notable projects. 

Polygon has been adopted for different purposes like the creation of NFTs and decentralized finance applications, due to its speed and low transaction fees. 

Last week, the L2 network was adopted by Zostel, an Indian-based hostel service, to develop travel non-fungible tokens. 

Sony Partners Sun Asterisk to Establish NFT Company in Singapore

Mark Brennan
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Sony Partners Sun Asterisk to Establish NFT Company in Singapore

 

Sony Partners Sun Asterisk to Establish NFT Company in Singapore.



As the NFT ecosystem continues to grow at an unprecedented rate, major mainstream companies are venturing into the space. The latest is Sony Network Communications which is partnering with Sun Asterisk, a company that promotes industrial digitization, to start an NFT company in Singapore.

NFTs have become quickly popular for digitizing many things ranging from pictures to actual physical objects. The ecosystem is growing rapidly and now finds applications in several industries including games, art, sports, music, and real estate.

The new company will be engaged in contract development and consulting related to Non-Fungible Token (NFT). It will “utilize the knowledge and achievements of Sony Network and service solution business, as well as the development and operation resources, know-how and technological capabilities of Sony, in the ever-expanding NFT market.”

Contributing to web3.0

Sony Network Communications and Sun Asterisk are partnering to establish the new NFT-related company for the first time. The two companies in a report said they wish to “contribute to the diverse economic areas created in the world of Web3.0 in the future.”

As Sun Asterisk is into the digitization of “all types of industry and creating values that update the society,” and Sony Network Communication offer internet services involving the internet of things, they’re entering the NFT ecosystem and web3.0 is a perfect way to contribute to building smart industries for the future. 

Other companies entering NFT

There are many major brands that are now adopting NFTs to promote their businesses. The ecosystem helps these big names to create new streams of income and contribute to their growth. Big names involved with NFTs include Coca-Cola, Nike, Superman, and the NFL.

As NFT proves to be profitable to mainstream companies such as Sony Network Communications and Sun Asterisk, more of such companies are likely to enter the space to help forward the growth of the ecosystem.

IOG CEO Charles Hoskinson Says Vasil Hard Fork Will Massively Improve Cardano’s Scaling

Mark Brennan
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IOG CEO Charles Hoskinson Says Vasil Hard Fork Will Massively Improve Cardano’s Scaling

Charles Hoskinson is very optimistic about Cardano Vasil Hard Fork.



Charles Hoskinson, the co-founder, and CEO of Input-Output Global (IOG), the firm responsible for the research and development of Cardano, has teased the project’s community about the improvements that will accompany the upcoming Vasil hard fork. 

Hoskinson, in his regular YouTube live session yesterday, noted that the Vasil hardfork, which is expected to be deployed in June, will come with “pipelining,” a unique feature that will usher in a massive improvement of the current Cardano ecosystem. 

The pipelining feature, according to Hoskinson, is the evolution of Cardano’s plumbing, and it is a significant element of the network’s scaling plan for 2022. 

Cardano’s pipeline will also introduce significant improvements to the network’s consensus layer, which fosters faster block propagation. 

Once the Vasil hard fork is implemented, the pipelining feature will foster greater gains in the headroom, thus positioning the network in the ideal spot to rival top blockchains like Ethereum and Solana. 

Although Hoskinson considers the pipelining feature an integral part of the project’s scaling plans for the year, it is worth noting that other plans are still in consideration to enhance Cardano’s scaling. 

“As most of you know, a main hard fork combinator event is occurring in June, which is the Vasil hard fork, that will have pipelining feature, which will be a tremendous performance improvement to Cardano.”

Vasil Hardfork will also provide the first major enhancement of Cardano’s Plutus, the network’s smart contract platform, its first upgrade since it went live in September 2021.  

“Combined, all these changes will lead Cardano to a position where it is faster than its competitors, and a highly competitive platform for decentralized finance (DeFi) this year,“ Hoskinson said. 

Vasil Hard Fork to Lure More Developers

Recall that many decentralized applications have gone live on Cardano since the introduction of Plutus, which bolstered the utility of the ADA coin. 

While the Cardano community was still celebrating the widespread adoption of the network by developers, Hoskinson disclosed that more decentralized applications are still waiting for the implementation of the Vasil hard fork before they would go live on the network. 

“What most also don’t understand is that many Cardano dApps are waiting for the Vasil hard fork in June to launch to benefit from pipelining. So it seems we ain’t seen nothing yet on TVL,” Hoskinson said. 

Ethereum 2.0 Upgrade Will No Longer Launch in June, Project Lead Developer Says

Lele Jima
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Ethereum 2.0 Upgrade Will No Longer Launch in June, Project Lead Developer Says

 

Ethereum 2.0 upgrade will launch sometime this year.



Tim Beiko, the Ethereum Merge lead developer, has recently dashed enthusiasts’ hopes of seeing the network’s transition from a Proof-of-Work (PoW) algorithm to a Proof-of-Stake model anytime soon. 

According to Beiko, the much-anticipated Ethereum merger of the PoW and the PoS algorithm will not be taking place in June 2022 as expected. 

However, the upgrade, also referred to as Ethereum 2.0, will still take place at a later date this year, Beiko noted in a recent thread on the popular microblogging platform Twitter. 

Towards the end of last month, Beiko shared an update on the ongoing progress of the planned Ethereum merger of the PoW and PoS chains. 

With over 100 Ethereum users commenting on the progress made toward the launch of the planned upgrade, a supposed miner on the Ethereum network with the username @TripleSack asked Beiko to know the exact date the upgrade will be implemented. 

@TripleSack was eager to know if the upgrade was around the corner in order to prevent miners from wasting more funds on purchasing mining equipment to mint the second-largest cryptocurrency. 

Beiko advised miners not to purchase mining equipment as the Ethereum blockchain will soon transition from PoW to a PoS consensus algorithm. 

The user asked whether the transition will occur in June as expected or whether miners still have more time to continue the operation of minting new ETH through the PoW method. 

Responding to this question, Beiko said: 

“It won’t be June, but likely in the few months after. No firm date yet, but we’re definitely in the final chapter of PoW on Ethereum.” 

 

Ethereum 2.0 Upgrade

The cryptocurrency community has been anticipating an Ethereum 2.0 upgrade that will see the network adopt a PoS model in producing new coins. 

Once the upgrade is implemented, miners will no longer have a place in the network, as investors will be required to validate transactions based on the number of ETH they stake or contribute to the staking pools. 

On April 11th ETH Devs Tested Proof-of-Stake On Ethereum and performed the first mainnet shadow fork ever.

Ethereum Community Excited 

The anticipation of the upgrade has made several Ethereum proponents, including billionaire investor Mark Cuban, enthusiastic. 

The Merge upgrade will see only a few ETH produced in contrast to the PoW model, and this initiative will likely boost the value of Ethereum. 

As the ETH community continues to wait for the official date of the Merge, the number of ETH staked in the Ethereum 2.0 contract has continued to soar tremendously. 

How To Choose a Secure DeFi Wallet

Mark Brennan
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How To Choose a Secure DeFi Wallet

As of July 2020, approximately $9.1 billion of value was locked in decentralized finance. By March 2022, around $80 billion of value was reported to be locked in DeFi.


This rapid growth in the DeFi sector can be credited to the increasing use of payment transfers through stablecoins, yield farming, staking, open lending platforms, and decentralized exchanges. These applications offer users higher interest rates than traditional banking, with fewer barriers and requirements for taking out a loan.

What is DeFi?

DeFi, short for decentralized finance, involves eliminating financial intermediaries and providing value through more extensive use cases for blockchain technology.

DeFi includes a variety of simplified services and products that remove all intermediaries, thus disrupting the traditional financial industry. The entire concept is inspired by the blockchain, ensuring that all transactions are recorded in a copy of the distributed ledger and there is no single entity in control of the information.

What is a DeFi Wallet?

A DeFi wallet is a storage solution for DeFi assets that offers users complete asset ownership. DeFi wallets are considered to be one of the safest storage options available today.

A DeFi transfers the power completely to the asset owner, unlike traditional banks that retain control over all the user’s assets in their holding through user verification and other related information.

DeFi wallets help eradicate the need for a third party, thus further revolutionizing the financial industry. In general, most DeFi wallets operate as Web 3.0 wallets with Ethereum (ETH) blockchain compatibility (although this may vary).

DeFi wallets also operate on a non-custodial framework, ensuring that the wallet owner is the only one with access to the funds. Accordingly, such wallets require users to retain full responsibility for keeping their private key safe.

DeFi wallets are known to be among the safest solutions on the market. However, the security of a DeFi wallet is a product of its user, who must keep their login information extra safe.

Factors to consider when picking a DeFi Wallet

Following are some important factors you must take into consideration if you are considering the use of a DeFi wallet:

Compatibility

A good DeFi wallet should be compatible with your web browser as well as the DeFi protocols with which you interact regularly. Some DeFi wallets are also integrated with dApps so that you can interact with DeFi protocols and perform trades without leaving the wallet.

Asset Support

Some DeFi wallets are better at supporting certain assets. While some wallets are designed to enable seamless interaction with assets held online, others natively support assets held in cold storage. Furthermore, some wallets support staking and yield farming, while others don’t. You must pick a wallet that supports the assets and operations that you have and use.

Simplicity

Since you will be using your DeFi wallet often to check on your assets and trade them, it is important to choose a wallet that is simple and convenient to use. One that has a streamlined setup process, non-complicated layout, and user-friendly features will allow you to track and manage your DeFi assets more easily.

Security

An important question to ask when considering wallet security is, “will the wallet provider take the necessary steps to ensure its users’ safety?” Always check the company’s reputation for security and read relevant user reviews before you decide which wallet you want to trust.

CoinStats: a secure DeFi Wallet

CoinStats is a versatile and secure DeFi wallet that allows you to manage all your DeFi and crypto in one place — buy, sell, swap, track, and earn on your crypto.

Features of CoinStats

  • CoinStats allows you to track all your Ethereum Mainnet, Binance Smart
  • Chain, and DeFi assets with unlimited access, anytime and anywhere.
  • The CoinStats app has a clear and simple layout, which allows you to view and monitor your crypto and DeFi holdings on various protocols.
  • The CoinStats wallet also gives you full control and allows you to
  • export your private keys safely and securely, giving you absolute
  • freedom and peace of mind to swap and send funds directly from your wallet.
  • With CoinStats, you can seamlessly trade your favorite coins and tokens on BSC, Ethereum, and Polygon without going to multiple exchanges.
  • You can sync your bank card easily with your CoinStats wallet to buy crypto with fiat in a few easy steps.
  • You can also put your holdings to work and receive up to 20% APY (Annual Percentage Yield) on your crypto assets when you save.

Closing Thoughts

DeFi adoption is on a steady rise, leading to a direct and proportionate increase in the number of DeFi wallet users. DeFi asset holders need to prioritize security, simplicity, and accessibility while choosing a compatible wallet that supports the assets of their choice.

Considering that DeFi is free from centralized control, the onus of security and safety is completely on the asset holder. Therefore if you want to keep your assets safe, it is essential that you choose a secure wallet to store them.

Revolutionary DeFi wallets like CoinStats have identified the core needs of the market and provided comprehensive wallet options suitable for novices and expert traders alike.

No matter which wallet you choose, always remember to put security first and never trust anyone with your security key. The safety of your assets is always in your hands.

Ranked 12th, “Bombur” Whale Just Buys 217B Shiba Inu, In Total Top Whales Accumulated 917B Shib In 12 Hours

Zabi
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0
Ranked 12th, “Bombur” Whale Just Buys 217B Shiba Inu, In Total Top Whales Accumulated 917B Shib In 12 Hours

12th Biggest Ethereum (ETH) Whale Named “Bombur” Fills Up Her Bags with Shiba Inu (SHIB); 217.39 Billion SHIB, Worth $5.95 Million Accumulated Within an Hour.



Top Ethereum (ETH) whales’ appetite for Shiba Inu (SHIB) increased heavily after the Robinhood listing. The most popular dog-themed cryptocurrency achieved the most major milestone and was listed on Robinhood, one of the world’s leading exchanges with nearly 22 million users.

12th biggest Ethereum (ETH) whale wallet named “Bombur” feels hungry for SHIB and has just reportedly added a whopping 217,398,365,968 (217.39B) SHIB, worth $5,958,887 ($5.95M) to her portfolio through three separate transactions.

The report shows that “Bombur” has made three back-to-back transactions with a gap of almost 20 minutes between each transaction. In her first transaction, she added 79,228,162,513 (79.22B) SHIB, worth ,171,643 (.17M) to her portfolio.

Soon after 20 minutes, she carried another transaction and accumulated the same amount of SHIB as the first one, i.e., 79,228,162,513 (79.22B) SHIB, worth ,171,643 (.17M).

Following this, she took another 20 minutes gap and goes for the third massive transaction and gobbled up 58,942,040,942 (58.94B) more SHIB, worth ,615,601 (.61M).

This aggressive accumulation makes SHIB her 17th biggest holding position by dollar value, as per data provided by WhaleStats.

This is not the first time that “Bombur” has accumulated such a massive SHIB. But, the whale has constantly been gobbling up big chunks of Shiba Inu since March 29, 2022. Within 15 days, the Shiba Inu holding for “Bombur” jumped from 560 billion SHIB tokens ($15.59M) to 1.05 trillion SHIB ($27M).

Today morning, According to WhaleStats, an ETH whale named BlueWhale0073 bought over 700 billion units of Shiba Inu coins in a single transaction.

In Total, 917B Shib have been Accumulated by the top two whales In 12 Hours.

Santiment Data: Roughly 4000 Bitcoin Whale Transactions Recorded Per Day Exceeding $1M, Is a Rally Close?

Albert Brown
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Santiment Data: Roughly 4000 Bitcoin Whale Transactions Recorded Per Day Exceeding $1M, Is a Rally Close?

Bitcoin whales making big moves.



Santiment data shows that bitcoin whales made about 4,000 large-value transactions, exceeding $1 million, from Monday to Friday, with a slight slowdown over the weekend. Santiment said this bodes well for a rally in bitcoin prices following the pullback in April.

The month of April has been marked by a major correction in the crypto market. The Bitcoin Fear and Greed Index shows there is still fear in the market as the correction lingers.

 

Despite this, whales actively carry out transactions on the Bitcoin network, data from Santiment reveal. 

The data shows that the network is receiving a steady supply of about 4000 whale transactions per day. Each day, the transactions are worth at least $1 million, but this reduces on weekends when the number of transactions also reduces.

“Bitcoin is seeing a continued steady supply of ~4,000 whale transactions exceeding $1M+ Monday through Friday, with mild slowdowns on weekends. Large increases are what we are looking out for to foreshadow a price bounce after April’s retrace,” Santiment wrote in a tweet.

Whales accumulating BTC

Whale activity has been steadily rising, not just on the Bitcoin network but also on others like Cardano, even though the assets have dropped significantly from their all-time high prices. This could indicate that whales are accumulating assets in preparation for the next rally that will follow in the market.

The Bitcoin balance on exchanges confirms this as it has continued to go down in the last week, indicating that whales are withdrawing Bitcoin to personal wallets, which is good for the asset’s price.

bitcoin balances on exchanges

Less supply on exchanges to be sold (exchange balance going down) always trumps more supply on exchanges to be sold (exchange balance going up) for Bitcoin price.

According to Santiment, the large transactions also “foreshadow” an incoming rally after the April retrace that has affected assets across the board. 

Bitcoin bounce “imminent.”

Currently, Bitcoin is trading at $40,144.41, after it dropped all the way from almost $48,000. The asset even broke below $40,000 two days ago, which forced traders to capitulate to prevent further losses, but this may be about to change.

Image source: Twitter

After the drop to about $36,000, Bitcoin bounced too well over $47,000 before dropping again to the current price. The price is now retesting the weekly support at around $40,041, and according to a technical analysis expert Crypto Rover, this could result in an imminent, massive breakout. 

In addition, he has predicted that massive volatility is incoming for Bitcoin, which of course, characterizes a rally. The four h MACD has also undergone a bullish cross and bullish divergence, which both point to the start of another runup. 

Cardano-based DEX WingRiders Hits $44 Million TVL Within 24 hours of Launch

Mark Brennan
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Cardano-based DEX WingRiders Hits $44 Million TVL Within 24 hours of Launch

Cardano-based DEXs are receiving a warm welcome.



New decentralized exchange (DEX) WingRiders recorded tremendous growth following its launch yesterday. Data shows that the Cardano-based DEX reached a total value locked (TVL) of $44 million just 24 hours after its launch. 

WingRiders made its official debut on the Cardano mainnet yesterday after a long wait by the Cardano community for its launch. Powered by Vaccumlabs, WingRiders came to the Cardano blockchain with two stablecoins, USDC and USDT. Vacuumlabs has been involved with Cardano since the network was created, and WingRiders is expected to ride on the wings of the relationship.

Users of the DEX can swap tokens using supported pairs and earn crypto through staking and “fly to the moon.” The team expects the next few months to be fast-paced for the DEX as it plans to increase and take the DeFi ecosystem by storm.

WingRiders growing fast

Only a few hours following its launch yesterday, WingRiders became the third most valuable DEX on Cardano with a TVL of $33.54 million. This has increased to $44 million within 24 hours, and the DEX is the second most valuable on Cardano today.

The rapid growth of WingRiders may be attributed to the two stablecoins it brought to the platform, which are the two most used stablecoins, USDT and USDC. This increases the potential of the DEX to grow fast as more people use stablecoins to swap tokens.

Last month, the project raised $4.5 million in a seed round supported by investors such as cFund, Spartan Group, and Longhash. Blockchain security firm Certik has also audited the Dex prior to its launch, which gives it more credibility than Vacuumlabs’ existing reputation with the Cardano community.

DeFi growing on Cardano 

Decentralized finance (DeFi) on Cardano is receiving a significant boost. The first DEX on the blockchain, SundaeSwap, was launched in January. Since then, many others have come on board with WingRiders as the latest and one with much potential.

Because of Cardano’s efforts toward adding value to the services that competing networks already offer, the DeFi ecosystem on the network is expected to multiply, especially now that WringRiders is here. 

Shiba Inu Burning In Millions Continue, 324M Shib Burnt Within 24 Hours, Burn Rate Surge

Zabi
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0
Shiba Inu Burning In Millions Continue, 324M Shib Burnt Within 24 Hours, Burn Rate Surge

 

Massive Shiba Inu burning continues.


Over 324 million Shiba Inu (SHIB) tokens have been taken out of circulation forever within the last 24 hours. The burning rate surges 714% compared to the previous day.

As per a recent tweet from the SHIB burn tracking website, Shibburn.com, community-led initiatives have been able to burn a total of 324,040,132 (324.04M) SHIB in the past 24 hours through 9 separate transactions.

The burn rate shows a whopping 714% over the last day when only 258,294,131 (258.29M) SHIB tokens had been burned through 11 separate transactions.

shib burn
image source: Shibburn.com

ETH SHIBA, a new token supporting SHIB burn, has acclaimed the most significant share of burning via tweet. The token organized the FLASH BURN EVENT on Tuesday (12th April 2022). Through this event, the team behind the newly emerged token has sent 300,123,501 (300.12M) SHIB to the dead wallet through one transaction.

The token “ETH SHIBA” came into life one month ago, and so far, the ETH SHIBA has burned more than 2 billion SHIB.

Readers should note that ETH SHIBA has no official relation with the SHIB ecosystem or its team. Only SHIB, BONE, and LEASH are part of the Shiba Inu ecosystem. Therefore, investors should research before investing in such kinds of tokens.

On the other hand, the 12th biggest ETH Whale named “BlueWhale0073” has recently made a purchase of a whopping 775,473,150,952 (775.47B) SHIB for $20,697,378 ($20.69M) through one massive transaction. The acquisition was noticed soon after Robinhood publicly declared that they have listed along with three other tokens on their platform.

Current SHIB Price:

At the time of writing, Shiba Inu is trading at the price of $0.00002707, up 18.2% over the last day, as per data provided by CoinGecko. The 24-hour trading volume for the token skyrockets over 482% and currently stands at $4,419,325,608.14. ($4.41B).

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