Category: Cryptocurrency News

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Data from Santiment shows that several altcoins have registered an increase in address activity, which may make them worth keeping an eye on. Bitcoin Cash & Other Altcoins Have Observed A Rise In Active Addresses As explained by the on-chain analytics firm Santiment in a new post on X, some alts are seeing rising activity despite the cooldown that the overall cryptocurrency sector has observed in the past couple of days. The indicator of interest here is the “daily active addresses,” which keeps track of the total number of unique addresses of any given coin that are interacting on the blockchain in some way every day. The metric accounts for both senders and receivers. By “unique,” what’s meant here is that any address participating in transaction activity on the blockchain is only counted once, regardless of how many transfers it may be involved in. Related Reading: Can Bitcoin Continue Its Run? These Factors Could Suggest So This restriction helps provide a more accurate representation of the actual activity on the network, as just a few addresses making hundreds of transactions can’t skew the metric by themselves. When the value of the indicator is high, it means that there are a large number of unique addresses taking part in transaction activity right now. Such a trend implies the blockchain is receiving a high amount of traffic currently. On the other hand, low values imply not many users are interacting with the network, a possible sign that interest in trading the cryptocurrency is low at the moment. Now, here is a chart that shows the trend in the daily active addresses for several different altcoins over the past month: Looks like the value of the metric has been high for all of these assets recently | Source: Santiment on X As displayed in the above graph, the daily active addresses indicator has observed a sharp surge in the past couple of days for the altcoins listed here: Bitcoin Cash (BCH), Small Love Potion (SLP), Mask (MASK), LeverFi (LEVER), and Civic (CVC). According to Santiment, these latest highs in the metric correspond to the highest levels that these cryptocurrencies have witnessed in around three months. Such high activity naturally suggests that there is a lot of interest in these coins among investors right now. Most of these are small-cap coins, though, but there is one among them that has a very notable standing in the rest of the market: BCH. The 16th-ranked asset in the sector has registered a decline in the last two days, much like the wider sector, but the asset’s active addresses have remained high in number. Related Reading: Cardano To Shed Its Gains? Profit-Taking Spikes To High Levels Usually, high address activity is a good sign for rallies, as a large amount of active trader pool means that the move has a higher probability of finding the fuel it needs to keep itself going. Interestingly, besides these altcoins, the largest stablecoin in the sector, Tether (USDT), has also seen the indicator shoot up during this period. Investors use stablecoins for storing their value in a more secure form and for buying into other assets, so the high address activity can potentially be a sign that some moves are taking place in the background. BCH Price Bitcoin Cash had earlier surged past the $250 mark, but with the latest drawdown, the altcoin has plunged to $230. Looks like the altcoin has reversed its recovery | Source: BCHUSD on TradingView Featured image from Shutterstock.com, charts from TradingView.com, Santiment.net

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Bitcoin looks like a stablecoin compared to the U.S. dollar index on the day, with BTC price levels of interest close to spot.

Certain events have been touted as being able to impact the XRP price significantly. Some of these events already seem to be happening, raising the hopes of the XRP community that the token could indeed hit $1 before the year runs out.  Ripple Expands To Singapore In a statement released on October 3, Ripple announced that its subsidiary had secured a Major Payments Institution (MPI) license from the Monetary Authority of Singapore (MAS). This announcement comes four months after the company received its in-principle approval from the regulator.  Related Reading: XRP Price Disappoints: Crypto Analyst Reveals Why He Will No Longer Accumulate Following this announcement, Ripple is fully licensed to provide “regulated digital payment token services in Singapore.” Ripple’s CEO Brad Garlinghouse also confirmed this development on his X (formerly Twitter) platform.  With Singapore already housing Ripple’s Asia Pacific headquarters, this move undoubtedly provides the company with momentum to continue expanding to countries in the region (which the company considers one of its fastest growing regions) for the adoption of its “crypto-enabled payments solutions.” Ripple is already enjoying significant success in Asia, with banks in countries like Japan, China, South Korea, Philippines, Indonesia, and Vietnam adopting the company’s cross-border payment service. Specifically, Japan is believed to have contributed significantly to the trading volume in the XRP ecosystem, with the token enjoying massive adoption among locals.  Ripple Secures Another Victory Against The SEC Meanwhile, the crypto firm has more reason to celebrate following another significant victory in its ongoing legal battle against the US Securities and Exchange Commission (SEC). In an order given on October 3, Judge Analisa Torres denied the SEC’s motion for certifications of its interlocutory appeal. As to the reason for the denial, she noted that the SEC “failed to meet its burden to show that such an appeal would materially advance the ultimate termination of the litigation.” Instead, she reasoned that granting the application could further prolong the action as the interlocutory appeal could open the door to other appeals from a dissatisfied party.  Related Reading: Crypto CEO Very Bullish On XRP Price, Sets Make Or Break Point Instead, she stated that the litigation will likely be “expeditiously advanced” if they advance to trial and then appeals come after. That way, the appellate court can review the case based on a complete record rather than considering disjointed legal and factual issues. In line with this, she set April 23, 2024, as when the trial is set to commence.  XRP Price Looks Good As Ripple Enters Top 100 Fintech Of 2023 Ripple’s President Monica Lang recently reiterated the company’s intention to continue to expand globally in its bid to disrupt the global financial architecture. The company’s efforts have not gone unnoticed as it recently announced that CB Insights ‘Fintech 100’ for 2023. Related Reading: Pro-XRP Lawyer Reveals The Impact Of SEC’s Lawsuit Against Ripple This recognition is an annual list compiled by private equity company CB Insights and comprises the “100 most promising private fintech companies in the world.” The XRP price has reacted positively to these developments as it is currently trading at $0.5317, up about 4% in the last 24 hours, according to data from Coinmarketcap. XRP recovers following court ruling | Source: XRPUSD on Tradingview.com Featured image from Outlook India, chart from Tradingview.com

Nansen analysts observed “unusual transactions between FTX and Alameda” in the days leading up to FTX’s bankruptcy.

Telegram founder Pavel Durov has repeatedly pointed out the role of the TON blockchain in the potential Web3 journey of Telegram.

LinkedIn plans to pilot a new AI-powered assistant aimed at recruiters searching for job candidates and will also release an AI educational assistant in its learning section.