We had been enjoying some positive price action of BTC's near 60% jump from start of the year and now prices are somewhat flat or decreasing from time to time and we all become doom and gloom for some extend. However, here are few things i personally think why 2024 bull run will come fast…
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Ripple, the blockchain company behind the XRP, has released 1 billion XRP tokens from its escrow. The firm previously locked the coins in the escrow system to ensure the XRP ecosystem and market stability. Ripple’s Monthly Unlock Of 1 Billion XRP Tokens According to data from the on-chain analytics firm Whale Alert, Ripple Labs unlocked 1 billion XRP tokens on June 1, corresponding with its unlocking schedule. Whale Alert captured the three transactions that completed Ripple’s token unlock plans. Related Reading: Bitcoin Wealth Is Transferring From Old To New Hands, Why This Is Positive Firstly, Ripple unlocked 300 million XRP tokens worth over $154.58 million in the current crypto market prices. The second transaction involved the release of 200 million XRP tokens from Ripple’s escrow worth $103.19 million. And in the last transaction, Ripple unlocked 500 million XRP coins from its escrow system worth over $257.99 million. A Brief On Ripple Escrow System Ripple developed the escrow system for locking XRP tokens in 2017. The firm locked 55 billion XRP in a “series of escrows” on the ledger, making up 55% of the token supply. Each escrow contains 1 billion XRP, which the blockchain firm plans to unlock monthly over 55 months. According to XRPL.org, the aim is to provide predictability to the token supply. As such, the ledger mechanics are enforced by consensus to enable the release of 1 billion tokens at the scheduled time. The blockchain company releases the token periodically in a controlled method. This serves as a measure of maintaining stability in the XRP market. The latest unlock of XRP is part of Ripple’s vision of satisfying investors’ demands and supporting the growing XRP ecosystem. Related Reading: Bitcoin Price Takes Hit – Upsides Turn Attractive To Sellers Also, the firm ensures that all unused XRP tokens are moved back to the escrow system, which helps extend the runway for the rest of the tokens to be unlocked. XRP Price Action The latest release of XRP tokens has not impacted the price of XRP in the market. At the time of writing, XRP price trades at $0.5080, indicating a surge of 0.1% over the past 24 hours. Data from CoinMarketCap shows that XRP saw more than a 15% increase over the past 7 days. On May 31, the crypto on-chain analytics firm, Santiment reported XRP as the top trending crypto asset. Also, the number sixth-ranked crypto by market cap witnessed over a 22% rise in value within the past 19 days. Santiment also disclosed that address activity on the XRP network reached a historic high, and crowd optimism hit the highest social volume. The XRP crowd optimism could be connected to the ongoing Ripple vs. SEC lawsuit, which many expect Ripple to win.
Been DCAing since 2017. Moving eth continues to be insanely expensive. I love Ethereum but this stage of it's infancy is off putting. Ethereum is becoming a niche storage of value since moving eth is so unrealistic. It makes me sad. I want to explore the world of Ethereum but transaction fees are too expensive…
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As a long-time client and avid referrer for Coinbase, I am incredibly disappointed and frustrated with their appalling customer support. I have had to start over four times in just two days, and yesterday alone, I reached out to support three times, only to receive unhelpful and indifferent responses. The support agents seemed disinterested in…
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Cardano is perhaps one of the more controversial cryptocurrencies in the space. Many people absolutely adore it and believe it’s the future. Many completely despise it. In this post I will go over the advantages and disadvantages of Cardano If you prefer to read on substack, here is the link Advantages Parallel processing from the…
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The United States doesn’t have to start from scratch when it comes to developing effective laws and guidelines for crypto.
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The Shiba Inu community burnt over 15 billion SHIB tokens in May 2023, showing their commitment to reducing the circulating supply. The intention of such burns is to reduce the total supply of the coin from market Blaze Token is the top SHIB burner of the month, with MARSWAP (MSWAP) and Coinbase 10 among the top burners. According to Shibburn, 15.36 billion SHIB, were burnt in 191 transactions in May 2023. Top SHIB Burners Blaze Token emerged as the top SHIB burner for May 2023, with its largest burn executed on May 29, seeing over 3.60 billion SHIB tokens sent to the dead wallet. Also, Blaze token burnt 2 billion SHIB on May 2, 1.69 billion SHIB on May 8, and 1.23 billion SHIB on May 22. Related Reading: Did The US SEC Just Endorse Ethereum After This Settlement? A new crypto project, MARSWAP, ranks second on the top SHIB burners list. The crypto project launched on ShibSwap DEX burnt 1.35 billion SHIB in 100 transactions on May 24. Additionally, a Coinbase-affiliated wallet tagged Coinbase 10 contributed 200.58 million SHIB burns to the total burns on the network. However, the increased burn rate did not affect Shiba Inu’s price as it still displays volatility. SHIB Price Prediction SHIB is trading in a downtrend today, forming a fourth consecutive red candle on the daily chart as it forms lower lows. It is trading below its 50-day and 200-day Simple Moving Averages (SMA), a short and long-term bearish sentiment. Related Reading: Ethereum’s Block Size Surges To 1-Month High – What This Means For ETH Also, its Relative Strength Index (RSI) is 35.64, close to the oversold region of 30. This also confirms the bearish sentiment as the indicator moves downwards. SHIB’s Moving Average Convergence/Divergence (MACD) is above its signal line but shows a negative value, and the histogram bars are fading, hinting at a bearish trend. These indicators imply that SHIB will likely continue in the bearish phase till the bulls rally again. SHIB is approaching the 38.2% Fibonacci level ($0.00000839), its closest support level. Hopefully, if SHIB doesn’t fall below that support level, it can rally to the 23.6% Fib level ($0.00000869), its nearest resistance level. A move above the $0.00000869 resistance level will mean a price recovery for SHIB. Shiba Inu Reclaims Security Rating, A Plus For Its Network Shiba Inu reclaimed the top security rating on blockchain security audit company CertiK’s list. Previously, the company reduced Shiba Inu’s rating from AAA to AA, a second-class rating. Shiba Inu reclaimed the top security (AAA rating of 94 out of 100), which was its former security level. Also, CertiK hosted an Ask-Me-Anything (AMA) session on Twitter spaces to respond to questions from the community. The focus of the discussion bordered on the upcoming Shibarium mainnet, security ratings, and network tokenomics. Featured image from Pixabay and chart from TradingView
Hey Etherian anons, a new article is out for "The Playbook for your Seed Phrase Storage" 🚀🔐 In this piece, I address hard questions on brute forcing, using 24 vs 12 words, and the oh-so-spicy seed phrase splitting 🌶️ Vitalik himself has a strong opinion on this! 👉 https://adrienbe.substack.com/p/seed-phrase-brute-forcing-12-vs-24 submitted by /u/adrienbe [link]…
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