TLDR; I think Reddit will keep RCPs and Reddit Gold Program totally indepedent. One handles karma and the other rewards/coins. Ever since the Reddit news about reworking Awarding: Changes to Awards, Coins, and Premium (https://np.reddit.com/r/reddit/comments/14ytp7s/reworking_awarding_changes_to_awards_coins_and/) many of us have been wondering over and over again if this would affect RCPs by somehow making them obsolete…
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On August 10, the price of XRP inexplicably spiked for a brief moment on the Gemini exchange. For a moment, the price of XRP reached an astounding $50 per coin before quickly crashing back down to the same level on spot markets on other exchanges. Brief Price Surge On Gemini According to various posts on social media platform X (formerly known as Twitter), it would seem that Gemini experienced a technical issue that caused the XRP price displayed on their exchange to show an erroneous price of $50. During that time, however, XRP was trading around only $0.63. Related Reading: Bittrex, SEC Reach Settlement In Securities Violation Case It would appear as if Gemini is currently experiencing a thin order book after recently relisting XRP on its spot markets. Users have posted screenshots on social media of the token’s price on the exchange rising above $1 several times. However, the exchange has since updated its chart to make it look like the cryptocurrency only spiked to $1.50. Gemini updates XRP chart to reflect $1.50 spike | Source: Gemini The bump, which took a few seconds to correct, was likely a result of low liquidity. According to crypto trading expert Ali Martinez, the liquidity was so low that only a $37,000 order was enough to move XRP prices on the exchange by 2%. $XRP hit $50 on @Gemini, but now they have updated their charts to make it seems like #XRP hit $1.60. 😅 Still, the market depth on this #crypto exchange is very low. Only a $37,000 order is required to move #Ripple prices by 2%. pic.twitter.com/k5u2GV5PnH — Ali (@ali_charts) August 11, 2023 Another observer also mentioned that a user had accidentally put up a sell order for a lot of tokens at $50, spiking up the price on Gemini in the process. A price swing of that magnitude seems highly impossible without any major news or event driving widespread interest in XRP. Following this, as of the time of writing, the exchange has announced it has put its platform into full site maintenance. the order book is very thin, i have been watching all day, at one point there was nothing for sale, someone put a lot to sell at $50.00 and someone must have fat fingered a market order and then they were the proud owner of $50 XRP, this was from a few hours ago pic.twitter.com/W5AoG2eV0r — John S (@lifebythedrop63) August 11, 2023 Token price trending at $0.63 | Source: XRPUSD on Tradingview.com Relisting XRP Gemini is the latest exchange to relist XRP after Ripple’s partial victory in court against the United States Securities and Exchange Commission (SEC). Due to regulatory concerns, the token was initially delisted on various exchanges after the SEC filed a lawsuit against Ripple in 2020. However, US Judge Analisa Torress ruled in July that XRP sales to the general public are not in violation of federal laws, so many of these crypto exchanges have gone ahead to relist XRP on their platforms. Related Reading: New Milestone For Ethereum Could Spell Good News For ETH Price Other crypto exchanges that have also moved to relist the token since the ruling include Coinbase, Kraken, and Bitstamp. At the time of writing, XRP is trading at $0.6311, up by 33.09% in the past month. Despite the initial euphoria community members may have experienced due to the Gemini glitch, the Ripple ecosystem still has a long way to go before XRP can actually hit $50 on the open market. Featured image from iStock, chart from Tradingview.com
The Securities and Exchange Commission’s prolonged deliberation over a spot Bitcoin ETF is stoking expectations of a joint decision for all applications.
BTC futures open interest is on the rise, but Bitcoin trading volume suggests that traders have shifted their attention to other markets.
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Worldcoin, the brainchild of OpenAI’s Sam Altman, made its official entrance into the world of cryptocurrencies in July. At first, things went smoothly as the euphoria from the launch grew. But this would only be short-lived because regulators began to pay close attention to Worldcoin’s data collection activities. In the last couple of weeks, regulators in various jurisdictions have brought Worldcoin under a microscope, significantly impacting the price of its native token, WLD. Regulatory Concerns Engulfs Worldcoin Not too long after its launch, Ethereum founder Vitalik Buterin first raised alarm about Worldcoin’s technology. According to Buterin, there were major privacy and security concerns, highlighting that user data collected using Worldcoin’s orbs could be prone to abuse. Related Reading: Terra Classic (LUNC) Chances Of Revival Grow Slimmer, Here’s Why Following this, reports emerged of some people getting less technologically savvy residents to scan their iris at Kenyan orb locations and then paying them one-third of the 25 WLD token rewards for doing so. In light of this, the Kenyan government launched a crackdown on the firm, leading to a temporary pause of its activities in the country. Worldcoin’s problems didn’t end there as Germany’s Bavarian State Office for Data Protection Supervision (BayLDA) also launched an investigation. The regulator’s concern centered on Worldcoin’s data processing practices and how it was transferring information. Most recently, the company has come under fire in Argentina where regulators are currently investigating its operations in the country. This is in addition to regulators in the United Kingdom and France also questioning Worldcoin’s data handling practices. Can WLD Price Recover From This? In light of the increased regulatory scrutiny around Worldcoin, its native WLD token has naturally suffered. WLD’s price has been on a consistent decline following its initial price pump on launch day, falling double-digits in the last few weeks. With so many investigations into the activities of the company, it is likely that this downtrend will continue. And if lawsuits were to result from these investigations, then WLD price could suffer the same fate as XRP following the SEC lawsuit back in 2020. Related Reading: Cardano (ADA) Next In Line For A Rally Following Shark And Whale Buying Spree Interestingly, the daily trading volume of WLD is up 44% in the last day. This signals growing interest in the coin which could lead to a price recovery. But such a recovery would only be short-lived as long as the uncertainties surrounding Worldcoin remain. Over the last 24 hours, the price of WLD has fallen 6.79% to trade at 1.7 at the time of this writing. It is recording losses of 25.64% on the weekly chart, but meager gains of 1.72% on the 30-day chart. WLD price tanks following regulatory scrutiny | Source: WLDUSDT on Tradingview.com Follow Best Owie on Twitter for market insights, updates, and the occasional funny tweet… Featured image from Decrypt, chart from TradingView.com
Hello, me again looking to generate some discussion here on r/cc, tabulate the results, and then post the results back to the sub a week or so later. We had great success a couple months ago when I asked the community what they think the next big thing in crypto would be and then followed…
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This cryptocurrency, Shiba Inu dog-inspired logo, has garnered significant attention in the crypto community. As the highly anticipated Shibarium launch draws near, Shiba Inu (SHIB) is riding on bullish momentum. In terms of the 7 days price gain, the meme coin is outperforming other notable assets like Bitcoin (BTC), Ethereum (ETH), XRP, and Dogecoin (DOGE), representing less than 1% price increase. Investors and enthusiasts are now considering whether to buy in as the project’s new development unfolds. SHIB Price Gains Momentum As Shibarium Nears A recent examination of on-chain data by IntoTheBlock exposed a remarkable rise in transactions related to SHIB ranging from $100,000 to $1 million, demonstrating an astounding surge of 300% over the last month. The current upward movement can also be linked to a post by the main developer, Shytoshi Kusama, on July 31. Related Reading: Solana Cuts Saga Price By 40%, But Case For New SOL Yearly High Increases He stated that the launch of Shibarium is fast approaching, prompting the need to “mint the remaining supply of BONE and renounce the BONE contract.” Recall that the lead developer of Shiba Inu, Shytoshi Kusama, mentioned in a blog post on July 6 that the team plans to talk about and maybe launch Shibarium, the awaited layer 2 technology, at the ETHToronto and ETHWomen hackathons in Canada in August 2023. He also shared a statement directly on the X application: “Here’s a math equation for those who like math. I won’t make it long: Shib > X.” Going by his timeline, the eagerly anticipated release of the Layer 2 Shibarium will be on August 15-16 as part of the ETH Toronto event. Launching the long-awaited Shibarium will likely boost investors’ interest and hype within the Shiba Inu ecosystem. After Shibarium is launched, more people could want to invest in the $SHIB token, as it might create a new wave of excitement. Technical Indicators Signal Bullish Momentum As the Shibarium launch nears, the coin experienced bullish sentiment evident in the 4-green candles on the daily chart. According to the chart, SHIB/USDT has approached the upper Bollinger Bands indicator, suggesting a high bullish pressure. The upper Bollinger Band is a resistance level, indicating that the coin’s price might be challenging to sustain further upward movement without a pullback. A breach of the upper Bollinger Band could signal a continuation of the uptrend, but if the price fails to break through and starts to decline, it might indicate the beginning of a retracement. With the RSI level at 69, the coin’s price might hover in the overbought territory, suggesting a potential slowing down or a reversal. However, the MACD above the signal line indicates positive momentum and potential upward movement. So the RSI indicates that the coin might be due for a corrective pullback, but the MACD suggests there is still buying interest. Related Reading: Bittrex, SEC Reach Settlement In Securities Violation Case Considering the analysis, the coin could observe a period of consolidation or a minor dip before a potential continuation of the upward trend. Traders should closely monitor price action, especially around key support levels at $0.0000077, and be prepared for potential short-term volatility. As of today, Shiba Inu is trading at $0.00000105. According to CoinGecko statistics, it has advanced by 18% & 24% over the last 7 and 14 days, respectively. Featured image from Pixabay and chart from TradingView.com
Hey everyone, I have been working on a dApp idea and I'd love to get your take on it. Its a project called proof of innovation and It's all about using blockchain to register innovations decentralised and potentially replace how we document innovations. Anybody can quickly register and verify their innovation. They can remain anonymous,…
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