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A digital currency takes off strongly after its integration with Amazon.. Will the rise continue?
Showing its confidence in the blockchain industry once again, Amazon AWS has provided significant support to the Solana network infrastructure in its latest move. Through this integration, developers will have a robust infrastructure to develop and test block chain projects on the Solana network . AWS cloud computing platform stands out as a platform that can reduce the risks of network delays and outages through the high performance it offers using its extensive data center network. Thus, as the Solana network runs more smoothly and reliably on the AWS platform , developer demand for the network is expected to increase .
Amazon continues its expansion into digital currencies
AWS's integration of Solana can be seen as the latest step in the platform's steady expansion into the cryptocurrency space. Recently, Amazon has begun offering premium services to developers, especially to strengthen its position in the Web 3 arena.
By strengthening its Web3 team this year, Amazon currently supports 25% of Ethereum nodes . Meanwhile, the company, which dominates more than 30% of the global cloud computing market, recently clearly demonstrated its expansion policy in the field of digital currencies by supporting Solana nodes, and its eagerness to meet the intense demand .
Latest developments in Solana
The local asset Solana ( SOL ) continues to attract attention with a recent increase in its value that is outpacing the growth of the general market. The digital currency, which was particularly high in mid-October, achieved another 10% increase in value thanks to the latest AWS integration news and reached the $40 mark .
SOL , which was trading at $20 at the beginning of October, has doubled in value within a month and has registered a significant rise compared to cryptocurrencies with a high market cap #sol $SOL
Showing its confidence in the blockchain industry once again, Amazon AWS has provided significant support to the Solana network infrastructure in its latest move. Through this integration, developers will have a robust infrastructure to develop and test block chain projects on the Solana network . AWS cloud computing platform stands out as a platform that can reduce the risks of network delays and outages through the high performance it offers using its extensive data center network. Thus, as the Solana network runs more smoothly and reliably on the AWS platform , developer demand for the network is expected to increase .
Amazon continues its expansion into digital currencies
AWS's integration of Solana can be seen as the latest step in the platform's steady expansion into the cryptocurrency space. Recently, Amazon has begun offering premium services to developers, especially to strengthen its position in the Web 3 arena.
By strengthening its Web3 team this year, Amazon currently supports 25% of Ethereum nodes . Meanwhile, the company, which dominates more than 30% of the global cloud computing market, recently clearly demonstrated its expansion policy in the field of digital currencies by supporting Solana nodes, and its eagerness to meet the intense demand .
Latest developments in Solana
The local asset Solana ( SOL ) continues to attract attention with a recent increase in its value that is outpacing the growth of the general market. The digital currency, which was particularly high in mid-October, achieved another 10% increase in value thanks to the latest AWS integration news and reached the $40 mark .
SOL , which was trading at $20 at the beginning of October, has doubled in value within a month and has registered a significant rise compared to cryptocurrencies with a high market cap #sol $SOL
Bitcoin crosses the $35,000 mark as bulls regain control of the market
Bitcoin (BTC) bulls were able to regain control of the market and push the price of the world's highest digital currency by total market capitalization past the $35,000 barrier again, after a volatile trading session filled with events involving macroeconomic risks, including the announcement The latest from the US Federal Reserve on the direction of its monetary policies. For its part, the Federal Reserve announced - unsurprisingly - its choice to keep the interest rate unchanged at its highest
The crypto sector is expanding in Europe.. The growth of the decentralized finance sector
Europe is witnessing clear growth as institutions expand their services to include decentralized finance (DeFi) in light of the turmoil hanging over the market.A new state of the market report issued by blockchain analytics company Chainalysis shows that the crypto industry has recorded growth in the Central, Northern and Western Europe (CNWE) region, and the report also indicates the United Kingdom’s dominance of the market in its region, in addition to the impact of the Digital Assets Markets
$XRP #crypto2023 Ripple (XRP) Lawyer Attacks SEC After Fake Bitcoin ETF News
Following the spread of misleading news about the approval of a Bitcoin exchange-traded fund (BTC ETF) by BlackRock, John Deaton, a cryptocurrency lawyer and supporter of Ripple (XRP), criticized the US Securities and Exchange Commission (SEC).
Deaton called for the need to place confidence in independent judges instead of the panel.
Recent news stories focused on the Securities and Exchange Commission's decision to approve BlackRock's application to launch a Bitcoin fund (ETF), which resulted in cryptocurrency prices rising and stimulating and increasing enthusiasm in the market.
But the joy did not last for long, as the authority revealed that this news was not true and warned the public against trusting unconfirmed sources.
Deaton, who represents Ripple investors, criticized the authority’s actions as arbitrary and capricious.
He shed light on the judges who monitor the commission, noting that there must be confidence in their assessments and decisions and not just in the commission’s statements itself.
It is worth noting that the Securities and Exchange Commission has faced many legal issues with cryptocurrency companies, as major challenges appear in this area.
Following the spread of misleading news about the approval of a Bitcoin exchange-traded fund (BTC ETF) by BlackRock, John Deaton, a cryptocurrency lawyer and supporter of Ripple (XRP), criticized the US Securities and Exchange Commission (SEC).
Deaton called for the need to place confidence in independent judges instead of the panel.
Recent news stories focused on the Securities and Exchange Commission's decision to approve BlackRock's application to launch a Bitcoin fund (ETF), which resulted in cryptocurrency prices rising and stimulating and increasing enthusiasm in the market.
But the joy did not last for long, as the authority revealed that this news was not true and warned the public against trusting unconfirmed sources.
Deaton, who represents Ripple investors, criticized the authority’s actions as arbitrary and capricious.
He shed light on the judges who monitor the commission, noting that there must be confidence in their assessments and decisions and not just in the commission’s statements itself.
It is worth noting that the Securities and Exchange Commission has faced many legal issues with cryptocurrency companies, as major challenges appear in this area.
Very positive expectations for Bitcoin and digital currencies...a rise to 90%
BTC Spot ETF being approved by the US Securities and Exchange Commission (SEC) to 90%. This comes after Ark Invest and 21Shares updated the prospectus for the Spot Bitcoin ETF requested by the US Securities and Exchange Commission. Meanwhile, the SEC has chosen not to move forward with an appeal of a court ruling allowing Grayscale to convert its GBTC product into a Spot Bitcoin ETF.Bloomberg Analysts Raise Odds of Approval for Spot Bitcoin ETF to 90% Bloomberg analysts Eric Balchunas and James
Terra Luna Classic community approves proposal to burn 800 million USTC
Terra Luna Classic community approves proposal to burn 800 million USTCThe Terra Luna Classic community has officially endorsed the proposal to burn 800 million USTC. suggested Vegas, a popular LUNC community member. Ozone Protocol wallet containing 800 million USTC blacklisted. Freezing tokens instead of destroying them without authorization. Traders reacted immediately to the approval of the proposal, leading to an increase in prices.Terra Luna Classic Community Passes Proposal to Burn 800 Mil
Terra Luna Classic community burns 76 billion LUNC tokens
community has reached 76 billion. This marks another milestone in the community's efforts to reduce the circulating supply of LUNC since May 18, 2022. The world's largest cryptocurrency exchange, Binance, has burned approximately 38.81 billion LUNC. It contributed more than 50% of the total LUNC burned so far.
The circulating supply of LUNC token is 5.80 trillion and the total supply is 6.83 trillion LUNC. However, the community still needs to increase the utility to increase the burn rate of LUNC.
Terra Luna Classic burn reaches 76 billion LUNC The Terra Luna Classic burn campaign has reached 76 billion LUNC, as cryptocurrency exchanges ... Auditors, projects, and members will burn LUNC by sending it to the burn address. The community burns an average of 400 million LUNC weekly, with Binance sending billions to the burn address as part of the monthly LUNC burning mechanism.
Binance burned more than 1 billion LUNC tokens in the 14th installment of the LUNC burning mechanism on October 1. With the LUNC burned by the cryptocurrency trading platform so far reaching over 38.81 billion.
The Terra Classic L1 Task Force (L1TF) developer group and the Quant USTC team aim to focus on reducing the circulating supply of LUNC and USTC in Q4. The developers aim to repeg USTC to $ 1 . And work with trading platforms to complete it successfully.
Meanwhile, the Terra Luna Classic community now has a community-owned Galaxy Station wallet and Galaxy Finder blockchain explorer.
$LUNC #crypto2023
community has reached 76 billion. This marks another milestone in the community's efforts to reduce the circulating supply of LUNC since May 18, 2022. The world's largest cryptocurrency exchange, Binance, has burned approximately 38.81 billion LUNC. It contributed more than 50% of the total LUNC burned so far.
The circulating supply of LUNC token is 5.80 trillion and the total supply is 6.83 trillion LUNC. However, the community still needs to increase the utility to increase the burn rate of LUNC.
Terra Luna Classic burn reaches 76 billion LUNC The Terra Luna Classic burn campaign has reached 76 billion LUNC, as cryptocurrency exchanges ... Auditors, projects, and members will burn LUNC by sending it to the burn address. The community burns an average of 400 million LUNC weekly, with Binance sending billions to the burn address as part of the monthly LUNC burning mechanism.
Binance burned more than 1 billion LUNC tokens in the 14th installment of the LUNC burning mechanism on October 1. With the LUNC burned by the cryptocurrency trading platform so far reaching over 38.81 billion.
The Terra Classic L1 Task Force (L1TF) developer group and the Quant USTC team aim to focus on reducing the circulating supply of LUNC and USTC in Q4. The developers aim to repeg USTC to $ 1 . And work with trading platforms to complete it successfully.
Meanwhile, the Terra Luna Classic community now has a community-owned Galaxy Station wallet and Galaxy Finder blockchain explorer.
$LUNC #crypto2023
$Ripple gets MPI license in Singapore and here's why it's important
On the day the US court rejected the preliminary appeal submitted by the Securities and Exchange Commission. Ripple has scored another big win by obtaining in-principle approval for its Master Payments Institution (MPI) license from the central bank of Singapore.
Ripple stated : “Four months later, Ripple is pleased to reveal the achievements of its branch in Singapore. Ripple Markets APAC Pte Ltd. It has successfully obtained a full MPI license to provide tokenized digital payment services within Singapore.”
This significant achievement highlights the practicality of cryptocurrency solutions for both businesses and financial institutions. This represents a pivotal step towards wider acceptance and use of digital assets.
Major US cryptocurrency companies are moving to Singapore amid strict regulations in the US. Singapore, on the other hand, has taken an accommodating stance. Just two days ago, cryptocurrency trading platform Coinbase (NASDAQ: COIN ) also received an MPI license from the Monetary Authority of Singapore.
Ripple lauds Singapore's legislation Singapore has gained a reputation as a leader in regulating groundbreaking digital assets. It has positioned itself as an ideal hub for businesses and financial institutions to leverage the potential of cryptocurrencies for various purposes. Including cross-border payments, crypto liquidity, and central bank digital currencies.
One of the key factors fueling Singapore's success in this area is regulatory clarity. Which plays a pivotal role in establishing security and trust for companies and institutions as they venture into the world of cryptocurrency solutions. While some countries are adopting a cautious approach towards cryptocurrency innovation. Singapore stays ahead of the curve by proactively preparing for the future.
Speaking about the development, Brad Garlinghouse, CEO of Ripple, said: “Under the leadership of MAS. $XRP
On the day the US court rejected the preliminary appeal submitted by the Securities and Exchange Commission. Ripple has scored another big win by obtaining in-principle approval for its Master Payments Institution (MPI) license from the central bank of Singapore.
Ripple stated : “Four months later, Ripple is pleased to reveal the achievements of its branch in Singapore. Ripple Markets APAC Pte Ltd. It has successfully obtained a full MPI license to provide tokenized digital payment services within Singapore.”
This significant achievement highlights the practicality of cryptocurrency solutions for both businesses and financial institutions. This represents a pivotal step towards wider acceptance and use of digital assets.
Major US cryptocurrency companies are moving to Singapore amid strict regulations in the US. Singapore, on the other hand, has taken an accommodating stance. Just two days ago, cryptocurrency trading platform Coinbase (NASDAQ: COIN ) also received an MPI license from the Monetary Authority of Singapore.
Ripple lauds Singapore's legislation Singapore has gained a reputation as a leader in regulating groundbreaking digital assets. It has positioned itself as an ideal hub for businesses and financial institutions to leverage the potential of cryptocurrencies for various purposes. Including cross-border payments, crypto liquidity, and central bank digital currencies.
One of the key factors fueling Singapore's success in this area is regulatory clarity. Which plays a pivotal role in establishing security and trust for companies and institutions as they venture into the world of cryptocurrency solutions. While some countries are adopting a cautious approach towards cryptocurrency innovation. Singapore stays ahead of the curve by proactively preparing for the future.
Speaking about the development, Brad Garlinghouse, CEO of Ripple, said: “Under the leadership of MAS. $XRP
Judge rejects US SEC's request to file an appeal in XRP lawsuit
Judge Analisa Torres, who issued a landmark summary judgment in July 2023 in the Ripple lawsuit, refused. Request by the US SEC to file a preliminary appeal. This rejection reiterates the previous ruling that retail buyers of the currency did not expect profits from Ripple .SEC appeal denied In conclusion, the judge said that the SEC's request to certify the interlocutory appeal was denied. Judge Torres noted that the SEC failed in its argument to establish that interlocutory appeal. If approved
$BTC The price of Bitcoin must remain above this level, otherwise we will bid farewell to hopes of a bull run
cryptocurrency market . I opened the week very positively, but gains are starting to slow. The battle between bulls and bears has intensified, with particular emphasis on one key price area.
In fact, the leading DeFi asset needs to maintain the bull run support level at $ 24,900 . Otherwise, “the urine will end up ringing.” As noted by a cryptocurrency expert with the pseudonym CoinsKid on a 4-hour Bitcoin chart shared in a post by X on October 3.
Analyze and predict Bitcoin price movement. Source: CoinsKid According to the expert's observations, if Bitcoin actually succeeds in holding this key support level. Its next move could take it towards the psychologically important $30,000 level and beyond.
Bitcoin Price Analysis Meanwhile, at press time, Bitcoin was trading at $27,593, representing a 2.7% decline in the past 24 hours while still recording 5.02% increases over the previous 7 days and 6.34% gains on the monthly chart. , where according to the latest data.
Meanwhile, another cryptocurrency analyst traded under a pseudonym. Cryptoinsightuk, noted that Bitcoin's weekly Relative Strength Index (RSI) chart patterns indicate the potential for a 1,100% move “in the right conditions with supply pressure” and the introduction of a spot Bitcoin ETF.
However, renowned cryptocurrency expert Michael van de Poppe expects a return of enthusiasm among investors in the fourth quarter of 2023. This is primarily due to the potential approval of a BTC spot exchange-traded fund and the traditional price rise before halving. Looking forward to the $40,000 level.
cryptocurrency market . I opened the week very positively, but gains are starting to slow. The battle between bulls and bears has intensified, with particular emphasis on one key price area.
In fact, the leading DeFi asset needs to maintain the bull run support level at $ 24,900 . Otherwise, “the urine will end up ringing.” As noted by a cryptocurrency expert with the pseudonym CoinsKid on a 4-hour Bitcoin chart shared in a post by X on October 3.
Analyze and predict Bitcoin price movement. Source: CoinsKid According to the expert's observations, if Bitcoin actually succeeds in holding this key support level. Its next move could take it towards the psychologically important $30,000 level and beyond.
Bitcoin Price Analysis Meanwhile, at press time, Bitcoin was trading at $27,593, representing a 2.7% decline in the past 24 hours while still recording 5.02% increases over the previous 7 days and 6.34% gains on the monthly chart. , where according to the latest data.
Meanwhile, another cryptocurrency analyst traded under a pseudonym. Cryptoinsightuk, noted that Bitcoin's weekly Relative Strength Index (RSI) chart patterns indicate the potential for a 1,100% move “in the right conditions with supply pressure” and the introduction of a spot Bitcoin ETF.
However, renowned cryptocurrency expert Michael van de Poppe expects a return of enthusiasm among investors in the fourth quarter of 2023. This is primarily due to the potential approval of a BTC spot exchange-traded fund and the traditional price rise before halving. Looking forward to the $40,000 level.
The Kingdom of Saudi Arabia and Pakistan sign a memorandum of understanding to enhance digital cooperation
The Kingdom of Saudi Arabia signed a memorandum of understanding with the Islamic Republic of Pakistan with the aim of intensifying cooperation in the communications and information technology sectors.
The historic agreement was held in Riyadh, between Eng. Abdullah Al-Sawaha, Minister of Communications and Information Technology of the Kingdom of Saudi Arabia, and Dr. Omar Saif, Pakistani Federal Minister of Information Technology, Communications, Science and Technology.
Under this partnership, the two parties will form a joint working group tasked with enhancing Saudi-Pakistani digital cooperation.
#crypto2023 $BNB $BTC $ETH
The Kingdom of Saudi Arabia signed a memorandum of understanding with the Islamic Republic of Pakistan with the aim of intensifying cooperation in the communications and information technology sectors.
The historic agreement was held in Riyadh, between Eng. Abdullah Al-Sawaha, Minister of Communications and Information Technology of the Kingdom of Saudi Arabia, and Dr. Omar Saif, Pakistani Federal Minister of Information Technology, Communications, Science and Technology.
Under this partnership, the two parties will form a joint working group tasked with enhancing Saudi-Pakistani digital cooperation.
#crypto2023 $BNB $BTC $ETH
#crypto2023 Ripple CEO Commenting On The Battle With The SEC: You Have To Stand Up To The Bullies Ripple
Brad Garlinghouse, CEO of Ripple, highlighted the importance of the stance taken against the US Securities and Exchange Commission (SEC), viewing their stance towards his company and the entire cryptocurrency industry as bullying-like tactics.
Speaking before the Finance Committee, Garlinghouse pointed out the extent of pressure these trusted bodies can exert and the importance of confrontation and defending rights.
It was found that many market participants viewed Ripple and its currency XRP as unique categories, but the company was seeing this as an attack on the industry as a whole, and awareness seems to have spread recently.
The importance of the confrontation between Ripple and the SEC is evident in the ruling that stated that XRP currencies are not investment contracts, and this led to renewed confidence in the currency and restored it to many trading platforms.
“Garlinghouse” expressed his great admiration for companies that resisted these bodies, such as Grayscale and Coinbase, considering that when faced with these bullies, others tend to lose and withdraw.
Garlinghouse stressed the importance of this ruling for his company, and described it as a major attack on the position of Chairman Gensler, who believes that all cryptocurrencies except Bitcoin are essentially securities.
$XRP
Brad Garlinghouse, CEO of Ripple, highlighted the importance of the stance taken against the US Securities and Exchange Commission (SEC), viewing their stance towards his company and the entire cryptocurrency industry as bullying-like tactics.
Speaking before the Finance Committee, Garlinghouse pointed out the extent of pressure these trusted bodies can exert and the importance of confrontation and defending rights.
It was found that many market participants viewed Ripple and its currency XRP as unique categories, but the company was seeing this as an attack on the industry as a whole, and awareness seems to have spread recently.
The importance of the confrontation between Ripple and the SEC is evident in the ruling that stated that XRP currencies are not investment contracts, and this led to renewed confidence in the currency and restored it to many trading platforms.
“Garlinghouse” expressed his great admiration for companies that resisted these bodies, such as Grayscale and Coinbase, considering that when faced with these bullies, others tend to lose and withdraw.
Garlinghouse stressed the importance of this ruling for his company, and described it as a major attack on the position of Chairman Gensler, who believes that all cryptocurrencies except Bitcoin are essentially securities.
$XRP
$The Bitcoin rally is waiting for one signal before $300 billion flows!
While Bitcoin has seen an uncertain trend in recent weeks, many people believe that the next big event that will help the cryptocurrency take off is the approval of a Bitcoin spot exchange-traded fund by the Securities and Exchange Commission, the market regulator. Stocks in the United States of America.
Billions flow
In a recent video interview on the Paul Barron Network, Mark Yusko, CEO and Chief Investment Officer of Morgan Greek Capital Management, addressed this topic, sharing his expectations regarding the approval of an exchange-traded fund and its impact on the price of Bitcoin, explaining that this fund could open The way to flow $ 300 billion into the market.
Yusko has already confirmed that the BitCoy Spot ETF can provide a bridge for institutional investors to cross into the Bitcoin market with complete confidence.
“Institutional investors are cautious about the idea of entering the cryptocurrency space due to regulatory and securities protection uncertainties (however) the idea of an exchange-traded spot fund would provide a regulated and secure way to gain exposure to Bitcoin,” he explained .
He added that a Bitcoin exchange-traded fund would meet the requirements of institutional investors, which would allow them to allocate a portion of their portfolios to digital activity.
10 Bitcoin ETFs Offers
While 10 bids have been filed for a Bitcoin ETF, Yusko stressed the importance of the early bird advantage in getting a Bitcoin ETF approved, declaring: “The investor who arrives first will receive the vast majority of assets.”
For this reason, BlackRock ( BLK ), the world's largest asset manager, is expected to be the first, if not the only one, to be approved.
“I believe, and this is what I have said many times, that BlackRock will be the first. In fact, I have been repeating this for over a year. I would go so far as to say that it is the only company that will get approved.”
#crypto2023 $BTC
While Bitcoin has seen an uncertain trend in recent weeks, many people believe that the next big event that will help the cryptocurrency take off is the approval of a Bitcoin spot exchange-traded fund by the Securities and Exchange Commission, the market regulator. Stocks in the United States of America.
Billions flow
In a recent video interview on the Paul Barron Network, Mark Yusko, CEO and Chief Investment Officer of Morgan Greek Capital Management, addressed this topic, sharing his expectations regarding the approval of an exchange-traded fund and its impact on the price of Bitcoin, explaining that this fund could open The way to flow $ 300 billion into the market.
Yusko has already confirmed that the BitCoy Spot ETF can provide a bridge for institutional investors to cross into the Bitcoin market with complete confidence.
“Institutional investors are cautious about the idea of entering the cryptocurrency space due to regulatory and securities protection uncertainties (however) the idea of an exchange-traded spot fund would provide a regulated and secure way to gain exposure to Bitcoin,” he explained .
He added that a Bitcoin exchange-traded fund would meet the requirements of institutional investors, which would allow them to allocate a portion of their portfolios to digital activity.
10 Bitcoin ETFs Offers
While 10 bids have been filed for a Bitcoin ETF, Yusko stressed the importance of the early bird advantage in getting a Bitcoin ETF approved, declaring: “The investor who arrives first will receive the vast majority of assets.”
For this reason, BlackRock ( BLK ), the world's largest asset manager, is expected to be the first, if not the only one, to be approved.
“I believe, and this is what I have said many times, that BlackRock will be the first. In fact, I have been repeating this for over a year. I would go so far as to say that it is the only company that will get approved.”
#crypto2023 $BTC
XRP attorney John Deaton joins LBRY's case as amicus curiae
Lawyer John Deaton, who is best known for his support of the cryptocurrency ( XRP ), has filed a formal request with the court, to be a “friend of the court” in the case brought by the Securities and Exchange Commission against the “LBRY” platform.
According to the document submitted on September 14, 2023 to the First Circuit Court of Appeals in the United States of America, Deaton submitted a formal request to represent Naomi Brockwell as an amicus curiae.
Referring to the submitted request, Deaton said in a post on the X platform (formerly Twitter):
#crypto2023 $XRP
Lawyer John Deaton, who is best known for his support of the cryptocurrency ( XRP ), has filed a formal request with the court, to be a “friend of the court” in the case brought by the Securities and Exchange Commission against the “LBRY” platform.
According to the document submitted on September 14, 2023 to the First Circuit Court of Appeals in the United States of America, Deaton submitted a formal request to represent Naomi Brockwell as an amicus curiae.
Referring to the submitted request, Deaton said in a post on the X platform (formerly Twitter):
#crypto2023 $XRP
A new fall hits Bitcoin by 88%, not the price...but the trading volume!
Binance's decision to remove zero fees from the BTC/TUSD trading pair had a significant impact on TrueUSD trading volume, according to Kaiko.
Daily trading volume for the BTC/TUSD pair fell 88% from $ 636 million to $72 million shortly after Binance removed its no-fee promotion for the pair on September 7, according to Kaiko data.
The move brought TrueUSD ( TUSD ) to its lowest volume level since the stablecoin was re-listed on the trading platform in early March 2023, the Paris-headquartered company said in a newsletter, as of press time. There is only one trading pair on Binance with zero fees: BTC-FDUSD.
First Digital USD (FDUSD) is a stablecoin listed on Binance in July 2023. Which is said to be backed by US dollars held in reserves at its appointed custodian, First Digital Trust Limited.
Kaiko notes that the decision to remove zero fees from TUSD has positively impacted Tether's dominance on the platform. Which raised its market share to 80%. While TUSD's share collapsed from more than 30% to just 5.6%. The move also increased FDUSD's market share to an all-time high of around 4%, Kaiko says. However, this increase did not change its position among other stablecoins. This makes FDUSD one of the smallest stablecoins in terms of trading volume on Binance.
Binance left TUSD without a no-fee promotion just a month after the stablecoin came under scrutiny amid Prime Trust issues.
In June 2023, TrueUSD stopped minting TUSD tokens through its provider Prime Trust. This caused the currency to be briefly unpegged at $0.9963. In August 2023. Prime Trust filed for Chapter 11 bankruptcy in the United States after Nevada watchdogs found the company was insolvent and unable to work with its clients. According to the Nevada Department of Business and Industry. Prime Trust had over $12 million in passive equity. The company has used customer funds to pay withdrawals since December 2021.
#crypto2023 $BTC
Binance's decision to remove zero fees from the BTC/TUSD trading pair had a significant impact on TrueUSD trading volume, according to Kaiko.
Daily trading volume for the BTC/TUSD pair fell 88% from $ 636 million to $72 million shortly after Binance removed its no-fee promotion for the pair on September 7, according to Kaiko data.
The move brought TrueUSD ( TUSD ) to its lowest volume level since the stablecoin was re-listed on the trading platform in early March 2023, the Paris-headquartered company said in a newsletter, as of press time. There is only one trading pair on Binance with zero fees: BTC-FDUSD.
First Digital USD (FDUSD) is a stablecoin listed on Binance in July 2023. Which is said to be backed by US dollars held in reserves at its appointed custodian, First Digital Trust Limited.
Kaiko notes that the decision to remove zero fees from TUSD has positively impacted Tether's dominance on the platform. Which raised its market share to 80%. While TUSD's share collapsed from more than 30% to just 5.6%. The move also increased FDUSD's market share to an all-time high of around 4%, Kaiko says. However, this increase did not change its position among other stablecoins. This makes FDUSD one of the smallest stablecoins in terms of trading volume on Binance.
Binance left TUSD without a no-fee promotion just a month after the stablecoin came under scrutiny amid Prime Trust issues.
In June 2023, TrueUSD stopped minting TUSD tokens through its provider Prime Trust. This caused the currency to be briefly unpegged at $0.9963. In August 2023. Prime Trust filed for Chapter 11 bankruptcy in the United States after Nevada watchdogs found the company was insolvent and unable to work with its clients. According to the Nevada Department of Business and Industry. Prime Trust had over $12 million in passive equity. The company has used customer funds to pay withdrawals since December 2021.
#crypto2023 $BTC
Bitcoin Price Forecast: IMF Warning and ARC’s Fears of Bitcoin’s Fall
The bustling world of Bitcoin (BTC) is once again in focus, with the currency seeing many setbacks and wins. Today, Friday, the price of Bitcoin rose by 1.5% to $26,289, but the price was not the only thing that made headlines, as a recent study by the International Monetary Fund (IMF) warned of the potential risks of digital currencies to global financial stability.
On the other hand, Ark Investment expressed concerns about continued macroeconomic challenges that could potentially hinder Bitco
On the other hand, Ark Investment expressed concerns about continued macroeconomic challenges that could potentially hinder Bitco
Saudi Arabia is looking forward to blockchain and Web3 gaming
Saudi Arabia has strengthened its economic diversification efforts driven by its ambitious Vision 2030.
In an effort to diversify its economy away from dependence on oil. The Kingdom has embraced emerging technologies, such as blockchain and artificial intelligence (AI). It took advantage of booming markets such as gaming.
But while the country has not yet left a significant mark in the global game and the development of artificial intelligence. The effects of its investments in the gaming sec
In an effort to diversify its economy away from dependence on oil. The Kingdom has embraced emerging technologies, such as blockchain and artificial intelligence (AI). It took advantage of booming markets such as gaming.
But while the country has not yet left a significant mark in the global game and the development of artificial intelligence. The effects of its investments in the gaming sec
XRP ranked as the most traded altcoin in August
associated with Ripple emerged as the most actively traded altcoin during the month of August. Which indicates its recovery in the cryptocurrency market .
Ripple shows dominance on trading volume provided by Kaiko, a reputable digital asset market data provider. The update on the X platform highlighted that Ripple has shown amazing trading strength despite the recent decline.
Kaiko noted that Ripple's average trading volume for August was $ 462 million . This number alone indicates the strong demand for Ripple among traders and investors.
What really sets Ripple apart from its competitors is that its average trading volume was about four times higher than that of the second largest altcoin by trade volume. This large gap indicates that Ripple has been on its own when it comes to trading activity.
Data from Kaiko confirms that even in the face of market turmoil. Ripple has managed to maintain a level of relative strength that few other altcoins can match. This demonstrates Ripple's resilience and ability to survive in the competitive cryptocurrency market.
Ripple Growth Factors One of the most important factors contributing to Ripple's comeback has been the ongoing legal developments surrounding the lawsuit between Ripple and the SEC.
The company recently breathed a sigh of relief after Judge Annalisa Torres ruled that sales of Ripple tokens to retailers did not qualify as securities. Although sales to institutional investors are also considered. This lifting of uncertainty has contributed to renewed interest and investment in Ripple. Which ultimately led to a boost in its trading volume in August.
In addition, Ripple Labs has continued to push for the adoption of its payment technology RippleNet and Ripple as a bridging currency. throughout her legal battle. The company has managed to secure partnerships with several financial institutions and payment service providers. This has expanded the use cases for digital currency.
#crypto2023 $XRP
associated with Ripple emerged as the most actively traded altcoin during the month of August. Which indicates its recovery in the cryptocurrency market .
Ripple shows dominance on trading volume provided by Kaiko, a reputable digital asset market data provider. The update on the X platform highlighted that Ripple has shown amazing trading strength despite the recent decline.
Kaiko noted that Ripple's average trading volume for August was $ 462 million . This number alone indicates the strong demand for Ripple among traders and investors.
What really sets Ripple apart from its competitors is that its average trading volume was about four times higher than that of the second largest altcoin by trade volume. This large gap indicates that Ripple has been on its own when it comes to trading activity.
Data from Kaiko confirms that even in the face of market turmoil. Ripple has managed to maintain a level of relative strength that few other altcoins can match. This demonstrates Ripple's resilience and ability to survive in the competitive cryptocurrency market.
Ripple Growth Factors One of the most important factors contributing to Ripple's comeback has been the ongoing legal developments surrounding the lawsuit between Ripple and the SEC.
The company recently breathed a sigh of relief after Judge Annalisa Torres ruled that sales of Ripple tokens to retailers did not qualify as securities. Although sales to institutional investors are also considered. This lifting of uncertainty has contributed to renewed interest and investment in Ripple. Which ultimately led to a boost in its trading volume in August.
In addition, Ripple Labs has continued to push for the adoption of its payment technology RippleNet and Ripple as a bridging currency. throughout her legal battle. The company has managed to secure partnerships with several financial institutions and payment service providers. This has expanded the use cases for digital currency.
#crypto2023 $XRP
Ripple joins Elon Musk's partner in SpaceX in a project related to XRP
In a surprising development, Ripple has collaborated ... The payments company behind the cryptocurrency Ripple XRP . With Jared Isaacman, Elon Musk's partner at SpaceX. The billionaire founder of payment processing company Shift 4. flew into Earth's orbit aboard SpaceX's Crew Dragon capsule in 2021. In the latest development, Ripple has officially announced that it is working on a donation project in collaboration with Isaacman.
XRP Donations with Partner SpaceX Ripple has officially announced that it has joined Isaacman in a project to donate XRP and cryptocurrencies to the Maui Emergency Response Fund. Accordingly, XRP has been added as one of the options for donating cryptocurrencies to charity on The Giving Block. It is a cryptocurrency donation solutions provider.
“Ripple will be joined by Jared Isaacman, CEO of Shift4,” the company said. The next $ 50,000 USD in any cryptocurrency donations made to the Maui Relief Fund will be matched 200%.”
The partnership includes matching donations. Which means that one party matches another party's contribution. In this case, Ripple pledged to match Isaacman in contributing to double the cryptocurrency donations received up to $50,000.
Is there more between Jared Isaacman and Ripple? Although the collaboration does not represent a concrete indication of the SpaceX partner's close ties with Ripple. However, it remains to be seen whether there is more to be discovered. Elon Musk is famous for his tweets on Dogecoin . During the bull run in 2021, his tweets had a huge impact on the cryptocurrency market. SpaceX and Tesla (NASDAQ: TSLA ) have added a Dogecoin payment option on their websites for selling the company's goods
#crypto2023
$XRP
In a surprising development, Ripple has collaborated ... The payments company behind the cryptocurrency Ripple XRP . With Jared Isaacman, Elon Musk's partner at SpaceX. The billionaire founder of payment processing company Shift 4. flew into Earth's orbit aboard SpaceX's Crew Dragon capsule in 2021. In the latest development, Ripple has officially announced that it is working on a donation project in collaboration with Isaacman.
XRP Donations with Partner SpaceX Ripple has officially announced that it has joined Isaacman in a project to donate XRP and cryptocurrencies to the Maui Emergency Response Fund. Accordingly, XRP has been added as one of the options for donating cryptocurrencies to charity on The Giving Block. It is a cryptocurrency donation solutions provider.
“Ripple will be joined by Jared Isaacman, CEO of Shift4,” the company said. The next $ 50,000 USD in any cryptocurrency donations made to the Maui Relief Fund will be matched 200%.”
The partnership includes matching donations. Which means that one party matches another party's contribution. In this case, Ripple pledged to match Isaacman in contributing to double the cryptocurrency donations received up to $50,000.
Is there more between Jared Isaacman and Ripple? Although the collaboration does not represent a concrete indication of the SpaceX partner's close ties with Ripple. However, it remains to be seen whether there is more to be discovered. Elon Musk is famous for his tweets on Dogecoin . During the bull run in 2021, his tweets had a huge impact on the cryptocurrency market. SpaceX and Tesla (NASDAQ: TSLA ) have added a Dogecoin payment option on their websites for selling the company's goods
#crypto2023
$XRP
An important event that could provide $30 trillion in liquidity to the crypto market
According to Bloomberg analyst Eric Balchunas, the approval of a Bitcoin exchange-traded fund has the potential to be a game-changer in unlocking massive reserves of capital for the cryptocurrency market . His analysis estimates that $ 30 trillion worth of assets controlled by US financial advisors could be converted into investments in Bitcoin if the spot ETF is signaled green by the US Securities and Exchange Commission.
The domino effect of BlackRock's involvement introduced BlackRock, the world's largest asset manager with assets under management of more than $9 trillion. Its application for a bitcoin ETF last month. Which led to a major change in the landscape of possibilities. According to Balchunas, the chances of spot ETFs being approved rose from 1% to 50% after BlackRock's involvement. With BlackRock's recent implementation boosting optimism in the cryptocurrency market. The race to launch the first Spot Bitcoin ETF in the US has never been more intense.
Their request sparked a wave of similar requests by other prominent firms such as ARK Investment, Valkyrie, and Fidelity, setting the stage for a highly competitive environment.
Although there are Bitcoin futures ETFs in the US. However, they pale in comparison to what spot ETFs can bring to the table. Currently, futures-based ETFs account for only about $1 billion of total assets under management. Balchunas describes the approval of the Spot Bitcoin ETF as a “holy grail” that would dwarf existing offerings and stimulate the cryptocurrency market like never before.
The Impact of Bitcoin Spot ETF on Cryptocurrencies As of the time of this writing, the price of Bitcoin is trading at $25,712.38, with a market cap of just over $500 billion. While the currency witnessed marginal fluctuations, falling by 0.12% over the past 24 hours. However, the broader cryptocurrency market remains optimistic. The spot ETF will not only benefit bitcoin.
$BTC $BNB $ETH
#crypto2023
According to Bloomberg analyst Eric Balchunas, the approval of a Bitcoin exchange-traded fund has the potential to be a game-changer in unlocking massive reserves of capital for the cryptocurrency market . His analysis estimates that $ 30 trillion worth of assets controlled by US financial advisors could be converted into investments in Bitcoin if the spot ETF is signaled green by the US Securities and Exchange Commission.
The domino effect of BlackRock's involvement introduced BlackRock, the world's largest asset manager with assets under management of more than $9 trillion. Its application for a bitcoin ETF last month. Which led to a major change in the landscape of possibilities. According to Balchunas, the chances of spot ETFs being approved rose from 1% to 50% after BlackRock's involvement. With BlackRock's recent implementation boosting optimism in the cryptocurrency market. The race to launch the first Spot Bitcoin ETF in the US has never been more intense.
Their request sparked a wave of similar requests by other prominent firms such as ARK Investment, Valkyrie, and Fidelity, setting the stage for a highly competitive environment.
Although there are Bitcoin futures ETFs in the US. However, they pale in comparison to what spot ETFs can bring to the table. Currently, futures-based ETFs account for only about $1 billion of total assets under management. Balchunas describes the approval of the Spot Bitcoin ETF as a “holy grail” that would dwarf existing offerings and stimulate the cryptocurrency market like never before.
The Impact of Bitcoin Spot ETF on Cryptocurrencies As of the time of this writing, the price of Bitcoin is trading at $25,712.38, with a market cap of just over $500 billion. While the currency witnessed marginal fluctuations, falling by 0.12% over the past 24 hours. However, the broader cryptocurrency market remains optimistic. The spot ETF will not only benefit bitcoin.
$BTC $BNB $ETH
#crypto2023
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