Category: Cryptocurrency News

As i can see Arbitrum, Optimism and Polygon are some of the biggest L2, are they sacrificing decentralization in order to achieve scalability? Compared to Ethereum. submitted by /u/Hadse [link] [comments]

CoinShares, a provider of crypto exchange-traded products in Europe, is optimistic about spot Bitcoin ETFs in the United States.

SBI Holdings will work with UAE firm TradeFinex on a Japanese joint venture aimed at boosting adoption of its enterprise blockchain platform running on the XDC Network.

Bankrupt crypto exchange FTX has been approved to liquidate nearly $3.4 billion worth of crypto assets, creating a sense of panic among crypto investors, but experts say the phased liquidation schedule will ensure market stability.

Despite some analysts noting why XRP is unlikely to end on a high, certain macro (and micro) factors could significantly impact the token’s price and possibly see it enjoy the same trajectory it did following Judge Analisa Torres’ ruling in favor of Ripple.  SEC-Related Factors Could Impact XRP Price On August 17, the US Securities and Exchange Commission (SEC) was given approval by Judge Analisa Torres to file its motion seeking an interlocutory appeal against her ruling at the Court of Appeals.  Related Reading: IPO Frenzy: What Happens To XRP Price If Ripple Stock Climbs To $600? However, this wasn’t an approval of the SEC’s appeal, and that is something that everyone in the XRP community is currently anticipating, as the court can either choose to accept or reject the appeal after considering the grounds for appeal and whether it meets the requirements needed to allow it. As a former SEC official Marc Fogel noted, the specific requirements for an interlocutory appeal are “hard to meet,” and the odds seem to be against the SEC. As such, the court is expected to deny the SEC’s request for an interlocutory appeal. If that happens, we could see XRP again enjoy most of the gains it saw following Judge Torres’ ruling when the token’s market cap rose significantly, overtaking Binance’s BNB to become the fourth-largest crypto by market cap (although it has dropped back to 5th). Another factor that could spark an upward trend for XRP is if a settlement between Ripple and the SEC becomes more feasible. Stakeholders in the crypto community have commented on the possibility of this happening and factors that could prompt both parties to settle. Pro-XRP legal expert John Deaton once stated that a settlement could happen this year if Judge Failla granted Coinbase’s motion to dismiss the SEC’s lawsuit against it. If that were to happen, the Judge would likely be adopting Judge Torres’ ruling that programmatic sales do not constitute investment contracts and crypto tokens bought through exchanges cannot be labeled as one.  It is believed that this could force the SEC into settling as it will become more established (especially if its interlocutory appeal was rejected alongside) that it doesn’t have jurisdiction over token sales on exchanges as they do not constitute investment contracts.  Related Reading: Analyst Presents 4 Charts That Prove Crypto Is Not Dead A more interesting factor that could force the SEC into a settlement is the revelations (and future ones) being made about the ETH Gate. As a form of damage control, the Commission could propose a settlement with Ripple rather than dragging the case to trial, where its credibility could be jeopardized.  The SEC proposing a settlement (not necessarily in the public eye) will be considered a major win for Ripple. It could restore investors’ confidence in the ecosystem, leading to a price increase in the XRP token.  XRP continues the recovery trend to rest above $0.51 | Source: XRPUSD on Tradingview.com Ripple’s Expansion Plans Ripple has proven not to be deterred by the long-running battle against the SEC as the crypto firm has continued to build amidst it. In fact, the company’s President, Monica Lang, recently mentioned that the court case (following Judge Torres’ ruling) has helped them to expand their business not just in the US but “even more globally.” According to her, the ruling gave the company much-needed clarity, especially amid regulatory uncertainty. With this in mind, the company can map out a proper framework going forward, bearing in mind that Judge Torres had ruled that XRP isn’t a security in itself. On the back of Judge Torres’ ruling, Ripple’s general counsel Stuart Alderoty had revealed to CNBC in an interview that Ripple could potentially begin talks with US financial firms about them adopting Ripple’s On-Demand Liquidity (ODL) product, which can be used to facilitate cross-border transactions.  Related Reading: Ripple CTO Addresses Bitcoin Adviser’s Claims That XRP Is Centralized If this were to happen, it would undoubtedly represent a bullish signal for the XRP community. Although Ripple and XRP have enjoyed outstanding success overseas (especially in Asia), many still believe that more work needs to be done to penetrate the American market. Therefore, a move like that could convince investors of the great strides the company is making in America. Meanwhile, there are also rumors of Ripple going public. Ripple is set to hold its “proper victory party” on September 29 in New York, and many in the XRP community speculate that the crypto firm could announce its initial public offering (IPO) plans at the event. Such an announcement will be huge and could generate more buzz and interest in the company, with XRP’s price being a beneficiary of this news. XRP is currently trading at $0.50, up by close to 2% in the last twenty-four hours as anticipation towards the party builds up.  Featured image from Finbold, chart from Tradingview.com

submitted by /u/-_-DarthVader [link] [comments]

Binance’s buyer in Russia, CommEx, has been developing its platform for six months and has onboarded some ex-Binance employees, the firm said.

In the last Bitcoin news, the price of the first cryptocurrency by market cap has been experiencing some gains on low timeframes. However, traders on the crypto exchange Binance were surprised when the BTC price suddenly dropped. Related Reading: CRV Spikes 22% In 2 Weeks As Whale Withdraws From Binance As of the writing of this Bitcoin news, the cryptocurrency’s price trades above $27,000 for the first time in weeks. BTC recorded a 2% profit in the last 24 hours and seven days, while the price of Ethereum leads the incipient bullish momentum. Shocking Bitcoin News For Traders On Binance According to crypto report Colin Wu, the price of Bitcoin crashed on the trading venue from its current levels to as low as $2,700. As seen on the chart below, and unlike previous occasions, the crash took place on different occasions. The incident was recorded at 16:17 UTC+8 time on the crypto exchange’s perpetual futures platform. One of the most popular trading instruments on the crypto exchange, its CEO, Changpeng “CZ” Zhao, responded to the incident. Via his personal X account, CZ said: Root cause identified, some new code caused it. Need to revert and fix data. Engineers say 1hr ETA for fix. So, expect 2hr or so. In a previous tweet, CZ clarified that a problem with the display for the trading pair caused the issue. The User Interface was unaffected, like the APIs connected to the platform. Thus, fortunately for traders on the platform, the incident failed to trigger any stop losses or margin calls for the BTC/USDT futures positions. This is a display ONLY issue. Trading not affected. https://t.co/ZixcFVcxQU — CZ 🔶 Binance (@cz_binance) September 29, 2023  BTC Price Analysis On the other hand, despite this Bitcoin news, the BTC price seems to be stabilizing around $27,000 and could potentially flip this level as support, allowing for a bullish continuation. A pseudonym crypto analyst claims that the cryptocurrency remains below the 20-day moving average and 21-day exponential moving average. Related Reading: Why Is Bitcoin Price Up Today? Insights From Leading Analysts If the cryptocurrency can reclaim this territory, then bulls could have a shot of returning above $30,000. Looking at potential clues that could hint at further profits, the analyst said: Bitcoin Open Interest came down a lot as price held steady. I said it yesterday but I’ll say it again, it’s looking a lot healthier than any prior dumps. This does not mean this can’t go down obviously. It does make it less likely to see these volatile up and down moves. Cover image from Unsplash, charts from DaanCrypto on X and Tradingview