‘Bitcoin Layer 2’ sidechains aren’t really L2s: There is a better way
Money has pumped into 73 Bitcoin ‘Layer-2’ scaling solutions this year. But many are just insecure sidechains. There is a better way.
Money has pumped into 73 Bitcoin ‘Layer-2’ scaling solutions this year. But many are just insecure sidechains. There is a better way.
The latest Glassnode onchain report reveals that major labeled entities collectively hold approximately 4.23 million bitcoin, representing over 27% of the adjusted circulating supply. This significant concentration of BTC holdings underscores the prominent role these entities play within the bitcoin ecosystem. Institutional Holdings: ETFs, Miners, Government, and Exchanges Control 4.23 Million Bitcoin According to Glassnode’s […]
Base Dawgz (DAWGZ), a brand-new multi-chain meme coin, has raised over $1 million in its presale. And now, one prominent analyst is predicting that DAWGZ could 10x from its current price after listing on DEXs. Base Dawgz – The Multi-Chain Meme Coin with Staking Rewards So, what’s fueling Base Dawgz’s early momentum? It’s mainly down […]
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Ripple has completed its acquisition of Standard Custody & Trust Company, a regulated digital asset custodian. This acquisition, announced by Ripple earlier this year, involves a trust company regulated by the New York Department of Financial Services. It broadens Ripple’s portfolio of licenses, which now includes nearly 40 U.S. money transmitter licenses, a Major Payment […]
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The meme coin economy is thriving on Wednesday, ahead of the U.S. Federal Reserve meeting, as the sector saw nearly $4 billion injected over the last 12 hours. Several meme tokens experienced substantial gains, with BENJI rising 36.9%, MAGA increasing 23.2%, and the runes-based DOG gaining 22.1%. Crypto Market Rises 3.24% as Meme Coins Drive […]
XRP has recently experienced a temporary recovery amidst ongoing market volatility. After a period of sustained downward pressure, XRP’s price has rebounded, offering a brief respite for traders and investors. This recovery comes amid a broader context of fluctuating market conditions, driven by various factors including regulatory developments, market sentiment, and overall cryptocurrency market trends. Despite this positive movement, the market remains highly unpredictable, and it is uncertain whether XRP’s recovery will be sustained in the long term. Investors are closely monitoring the situation, analyzing technical indicators and external factors to gauge the potential trajectory of XRP in the coming days. This introduction explores the factors behind XRP’s temporary recovery and the implications for its future performance in a volatile market environment. Technical Overview Of XRP Price Technically looking at the chart from the 1-hour chart, it can be observed that XRP is attempting a recovery move from its downward surge. This move, however, will lead to more drop in XRP as the price is trading below the 100-day Simple Moving Average (SMA). The 1-hour Relative Strength Index (RSI) indicator also confirms this as the RSI line is currently moving toward the 50% level. Therefore the RSI line suggests that XRP’s price will move upward to a point where the price will begin to drop again. From the 4-hour chart, it can be observed that XRP is also attempting an upward recovery move after creating support at $0.4714. A final look at the chart with the 4-hour RSI indicator reveals that the price of XRP will still move upward for a while before continuing in its downward trend. The reason for this is that the RSI line is attempting an upward move out of the oversold zone. The Crypto Asset Poised For More Drop In conclusion, XRP’s recent temporary recovery amidst market volatility highlights the dynamic and unpredictable nature of the cryptocurrency market. Thus far, this recovery has led to XRP moving toward the 1-hour resistance level of 0.4887. If the price breaks above this level, it may move higher to test the $0.560 level. However, it should be noted that this is just a temporary move, as at some point the price will start declining again. When this happens, XRP will begin to move toward the $0.4714 support level. Should the asset break this level, it will continue to move downward to test the $0.4546 support level and may probably move on to test or create new levels. With a market capitalization of more than $26 billion and a trading volume of more than $1.2 billion as of the time of writing, the price of XRP is up by 0.04%, trading at around $0.4802 in the last 24 hours. XRP market cap and trading volume are currently down by 1.09% and 11.13% respectively. Featured image from Adobe Stock, chart from Tradingview.com
MATTEREUM Mattereum is a RWA asset project headed by an ETH OG, Vinay Gupta. He co-ordinated the relase of Ethereum back in July 2015. He was also the strategic architect for ConsenSys. He was the designer of the National Blockchain Strategy for Dubai. He has been appointed as a blockchain fellow of the prestigious UK…
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