Category: Cryptocurrency News

After a rough few months of slipping down the ranks, Shiba Inu is back in the top 15 cryptocurrencies by market cap. In the last 24 hours, the price of Shiba Inu has spiked in excess of 5%, allowing it to overtake cryptocurrencies like Wrapped Bitcoin and Bitcoin Cash to reach the 14th spot with a market cap of $4.8 billion. Shiba Inu Jumps 5% In 24 Hours, Reclaiming 14th Spot The price of the majority of cryptocurrencies seems to be plateauing in the past week, with some even losing some of their market cap. However, meme coins like Shiba Inu and Dogecoin seem to be doing slightly well, with DOGE leading the pack with a 7.02% gain in the past seven days.  Related Reading: VC Firm Sequoia Capital Slashes Crypto Fund By 65% Amid Bear Market In the case of Shiba Inu (SHIB), the altcoin has found a bit of momentum, amassing an increase of 293.16% in trading volume in the past 24 hours.  As usual with volatile meme coins, it’s hard to pin down an exact catalyst of the spike. However, the price jump seems to have come after Shiba Inu’s developers announced the release of a testnet bridge between Shibarium and Ethereum. Shibarium to Ethereum Testnet Bridge Pushes SHIB’s Price by 5% Shiba Inu has come a long way since its creation as a meme coin made just to challenge the popular Dogecoin (DOGE). However, the Shiba Inu ecosystem now has a lot of following, investors, developers, and an active community.  Shiba Inu developers are now working on a Layer-2 upgrade with the aim of developing the ecosystem and becoming a serious blockchain contender. The network, which will operate on top of Ethereum, is called Shibarium and was announced earlier in March. When Shibarium is launched, it is expected to help minimize costs and increase transaction speeds. 🔥 Shibarium Beta Bridge has gone live for public testing! 🎉 Be among the first to try out this revolutionary cross-chain solution. Remember, always exercise caution and verify authenticity before connecting your wallet to any website. PLEASE DO NOT USE YOUR REAL ASSETS!… pic.twitter.com/7yfhX8gQc6 — 𝐋𝐔𝐂𝐈𝐄 (@LucieSHIB) July 26, 2023 On July 28, SHIB devs began testing a bridge that allows tokens to be easily transferred between the Shibarium and Ethereum. The testnet release is an important step toward making Shibarium a reality. This cross-chain solution seems to have sparked the interest of SHIB investors, as the price of the token spiked in the hours after.  Related Reading: Ripple Attorney Withdraws From SEC Lawsuit, Will It Affect XRP? How High Can The Price Go? Shiba Inu is the second-largest meme coin in terms of market cap. Although the price is now nearly 80% from its all-time high in October 2021, current upgrades show momentum seems to be turning positive. The coming months and the progress of the Shibarium Layer-2 will be crucial in determining whether Shiba Inu can build on this momentum to retest previous highs or whether it continues to plateau.  At the time of writing, SHIB is trading at $0.000008191. SHIB price recovers above $0.000008 | Source: SHIBUSD on Tradingview.com Featured image from iStock, chart from Tradingview.com

Heartland Tri-State Bank of Elkhart was closed on July 29, with the Federal Deposit Insurance Corporation (FDIC) taking control.

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Should Elon Musk’s platform choose to introduce crypto payments in the future, Stripe’s on-ramp service could prove beneficial.

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WLD price may get anchored to $2 until October, primarily due to its initial supply distribution.

XRP has been one of the trending tokens following the summary judgment which ruled that the token was not a security, giving its parent company, Ripple, a ‘partial victory’ over the United States Securities and Exchange Commission (SEC). That event saw XRP’s price soar to about $0.93.  However, XRP’s price seems to have cooled off, settling at the $0.7 price mark. Despite this, there still seems to be bullish sentiment around XRP’s future price, which is why this Machine Learning tool was consulted to predict XRP’s price.  Here’s What It Said PricePredictions.com, a site powered by an advanced machine learning algorithm that provides current and futuristic trends about several tokens, was consulted in a bid to get an insight into XRP’s future price and to better position themselves in case of a rally by the token. Related Reading: Ripple Attorney Withdraws From SEC Lawsuit, Will It Affect XRP? According to XRP’s futuristic price action, the AI tool forecasts that there will be an upward trend that will see XRP gain about 1.5% in value from its current price of $0.7. It has also been projected that XRP will hit the price mark of $0.71 by August 26, 2023. For insight into how the machine learning tool works, the algorithm analyzes current technical analysis (TA) indicators, like moving average convergence divergence (MACD), average true range (ATR), relative strength index (RSI), and Bollinger Bands (BB) to come up with a logical price forecast. XRP price trending at $0.7 | Source: XRPUSD on Tradingview.com XRP Has Come A Long Way Ripple Lab’s aforementioned victory over the SEC undoubtedly sparked significant interest in XRP, especially from institutional investors, seeing the token rise above Circle’s USDC and Binance’s BNB to become the fourth-largest cryptocurrency by market cap. This took XRP’s market capitalization to a yearly high of $46.1 billion at the time of the ruling that it wasn’t a security (XRP’s market currently stands at around $37 billion according to data from CoinMarketCap). Related Reading: Bitcoin Whales Make Alarming Deposits To Exchanges Amid Falling Prices XRP also became the most actively traded altcoin in 2023. The token accumulated over $1 billion in trading volume, outperforming other altcoins like BNB, SOL, MATIC, and DOGE. Although XRP is still far below its all-time high of $3.84 in 2018, it has undoubtedly had an impressive market trend lately, and it is projected that many more users will continue to pick an interest in the token and ultimately promote wider adoption. Featured image from iStock, chart from Tradingview.com