The Federal Reserve certified the FedNow Service as “ready,” after it onboarded 41 financial institutions, 15 service providers and the U.S. Department of the Treasury to test out the system, before its launch by the end of July 2023.
Solana (SOL) offered an attractive chance for buyers to seize a favorable risk-reward ratio as it retraced to test a previous resistance area. At the same time, the market remained under the bulls’ control. Furthermore, the on-chain metrics displayed promising performance. Notably, the number of active users experienced a gradual uptick, and an extraordinary surge in smart contract deployment on the platform was also observed. Could this impressive on-chain performance indicate even more significant potential for Solana in the future? Analyzing SOL’s Performance According to data from Coingecko, the current trading price of SOL has reached $26.58, marking a 1.0% increase in the past 24 hours. Even more striking is the remarkable seven-day rally, where SOL has surged by an impressive 21.7%. Source: Coingecko These metrics indicate a positive sentiment surrounding the cryptocurrency and suggest potential opportunities for investors and traders. While a slight loss of bullish momentum may have been observed in the lower timeframes, the 1-day chart revealed substantial bullish potential for SOL. A SOL price report suggests that despite minor fluctuations in shorter periods, the overall outlook for SOL remains optimistic, especially considering the strong performance of the bulls throughout July. Strength In Bullish Momentum And Demand Two critical indicators, the Relative Strength Index (RSI) and the On-Balance Volume (OBV), further support the bullish outlook for SOL. The RSI showcased robust bullish momentum, indicating that the buying pressure has been significant during the recent price surge. Related Reading: BNB Chain Unveils Beacon Update – What’s Its Bearing On Price? SOL market cap currently at $10 billion. Chart: TradingView.com Additionally, the uptrend in the OBV signaled a considerable increase in demand for SOL, fueling the impressive rally in its price. Related Reading: XRP Maintains Bullish Run With Nearly 80% Rally – Is $1 Within Reach? With SOL’s price showing strength and resilience, investors may consider this a positive sign for the cryptocurrency’s future performance. However, exercising caution and conducting thorough research before making investment decisions is essential, as the crypto market is known for its volatility. Solana’s New Developer Tool Meanwhile, the Solana blockchain protocol recently announced its latest developer tool, Solang. This innovative tool addresses the fundamental differences between the Solana ecosystem and the Ethereum blockchain network, particularly concerning the programming languages utilized in their designs. 1/ 🎉Introducing Solang: Building on Solana with Solidity Today, @solanalabs announces Solang, a compiler enabling developers to write smart contracts on Solana in Solidity, the primary programming language of Ethereum.https://t.co/X703sAMJBC Learn more👇 — Solana (@solana) July 19, 2023 With Solang, developers can now write Solana programs using the popular Solidity programming language predominantly associated with the Ethereum network. This integration is a direct gateway for launching decentralized applications (dApps) on Solana, providing an excellent opportunity for applications to extend their value beyond their immediate ecosystems. This cross-chain compatibility will likely encourage developers to explore the vast potential of Solana’s high throughput, low latency, and cost-efficient platform for building sophisticated dApps. (This site’s content should not be construed as investment advice. Investing involves risk. When you invest, your capital is subject to risk). Featured image from Adobe Stock
This expansion is set to encompass all blockchains and applications running on the Polygon network, thereby democratizing the upgrade process and fostering community participation.
In a recent tweet, Ben “BitBoy” Armstrong, a controversial figure in the crypto community, stirred discussions with a noteworthy projection for the future price of XRP. The excitement began when Evan Luthra, an angel investor and Forbes 30 under 30 award winner, tweeted, “XRP just surpassed BTC trading volume. It’s now the highest trading crypto asset. What’s your price target for Ripple?” Will XRP Rise to $35? BitBoy’s response can be classified as very bold when he said “$15 is reasonable, I think over 18 months or so. If they IPO and time it right, could be up to $35 imo. At the heart of Armstrongs projection is his belief in the long-term growth potential of XRP, with the projected price of $15 signifying a whopping 1,720% increase from its current price. This optimism may be bolstered by the recent legal victory by Ripple which has provided some clarity for XRP. Remarkably, BitBoy’s enthusiasm didn’t stop at $15, as he suggested that XRP’s price could potentially reach $35 if Ripple proceeds with an Initial Public Offering (IPO) and times it strategically. Achieving this target would necessitate a staggering surge of 4,200%. Related Reading: XRP Maintains Bullish Run With Nearly 80% Rally – Is $1 Within Reach? The rumors about an upcoming IPO of Ripple are not new. CEO Brad Garlinghouse hinted at the possibility already before the SEC lawsuit. It’s likely the agency threw a wrench in the company’s plans. Nevertheless, it is crucial to approach such forecasts with caution, as BitBoy himself acknowledged the inherent unpredictability of the crypto market. Cryptocurrencies are renowned for their price volatility and susceptibility to various external factors, making accurate predictions a challenging task. BityBoy added: Make no mistake… it may not go that high… but XRP IS breaking an all time high this cycle save some sort of pointless, vindictive SEC appeal. (Low chance) Also, the influencer’s optimistic outlook on XRP’s potential is not entirely new. In April, he had already identified XRP as his top altcoin pick for the next bull run, contingent on a favorable outcome in the SEC lawsuit. A positive resolution would provide the asset with much-needed legal and regulatory clarity, potentially acting as a further catalyst for growth. Related Reading: Bitcoin, XRP, & Ethereum: Three Top Coins On Brink Of Golden Cross In another tweet the influencer reacted to a Twitter user who stated “Everything is breaking ATH this cycle.” Armstrong answered that he doesn’t think so, revealing his picks for such altcoins, “Solana, Dogecoin, Shiba all potentially on that list. Previous top 10 coins that didn’t make new ath’s last cycle: NEM, NEO, Dash, BCH, XRP (for good reason) etc. Don’t fall into the same trap I did last cycle. Everything doesn’t perform.” Armstrong Is Not Without Controversy David Schwartz, Chief Technology Officer (CTO) of Ripple, called the BEN coin project a 100% rug pull two months ago. In response to a tweet, Schwartz wondered if the rug pull would happen in the future or if Bitboy’s involvement in the project was a rug pull. Schwartz concluded that he believed in both scenarios: Do you think the rug will be pulled in the future? Or do you think Bitboy joining the team is itself a rug pull? Because I definitely agree with either one. In addition, BitBoy was accused of defrauding or misleading his 1.44 million YouTube subscribers in 2022, as several pieces of evidence surfaced suggesting that he did not disclose the paid advertising content in his videos. At press time, the XRP price stood at $0.8219, up 4.6% in the last 24 hours. Featured image from Exness, chart from TradingView.com
Chris Amani, a Terra’s employee since 2021, has reportedly been serving as the company’s chief executive officer for months.
Hi everyone! Today the price of our lovely Moons is floating between $0.38 and 0.58 so I've decided to do the homework for you guys and do the market research to show you the future potential of our project. Okay, let's start with some Moons data, as you can see below the circulating supply is…
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Cardano (ADA) is recently showing signs of a potential trend reversal. But after staging an impressive 48% rally from its low in June, the ADA price faces crucial hurdles to solidify its bullish stance. Cardano (ADA) Price Analysis Cardano enthusiasts have had their patience tested as the ADA price navigated through a series of ups and downs. Following a dip to $0.221 in June, Cardano embarked on an impressive 48% rally, fueled in part by positive sentiment stemming from the Ripple legal dispute with the SEC. During this period, the price surged to the 61.8% Fibonacci retracement level, sparking excitement among the bulls. However, enthusiasm soon waned as the buy side struggled to stabilize above the 200-day EMA (blue). ADA subsequently corrected back to the crucial breakout level at $0.30, where the bulls regained their footing and lifted the price above the EMA50 (orange). Bullish ADA Price Targets For the short-term outlook to brighten further, ADA needs to overcome some important hurdles. The first key resistance is at the 38.2% Fibonacci retracement level, sitting at $0.328. A successful push beyond this level could open the path for an attack towards the $0.355 mark, where the 200-day EMA poses its most significant challenge. Related Reading: Cardano Bulls Reclaim Control As ADA Rallies 28% However, an impulse from the broader crypto market, Bitcoin or also more positive news from the Ripple legal battle with the SEC is probably required for this. Only when the buy side can recapture the 200-day EMA on the daily closing price, the probability for a near-term trend reversal increases significantly. A sustained break of the 61.8% Fibonacci retracement level at $0.38 is essential for a true bullish trend reversal. This milestone would increase the probability of revisiting the previous week’s high. For this, a breakout above the critical zone between $0.361 and $0.38 would be a trend reversal for the bulls. If successful, the ADA price could eye the local high of $0.399. Then, the next target becomes the 78.6% Fibonacci retracement level at $0.415. Here, the fate of Cardano’s upward trajectory will be decided, with a potential push towards the April 15 annual high of $0.463. However, prudent investors should be prepared to take profits if ADA approaches this level. Related Reading: Cardano Development Activity Dropping – What Does It Mean For ADA Price? Beyond this point, an ongoing bullish scenario opens up possibilities to target the local high of September 10, 2022, at $0.524. And if the bullish momentum remains robust, the high of August 2022 at $0.590 could become the next objective. Bearish Price Targets While the upward trend is evident, a sustainable market structure change is not yet confirmed. The bears showed their presence on July 15, holding the ADA price below the “bear market line” represented by the 200-day EMA. However, the recent 21% correction saw the buy side reclaim control, at least for the time being. To initiate another sell-off, the bears need a daily close below the 50-day EMA at $0.311. Until that happens, the bulls can feel relatively secure in their position. A failure to do so may lead to a retest of the support zone between $0.30 and the 23.6% Fibonacci retracement at $0.296, with further correction potential towards the $0.266 support area. The Relative Strength Index (RSI) initially surged to 72 but has since settled into the neutral zone at 54. Generating a fresh buy signal will be crucial for a massive price increase, as an overheated RSI typically accompanies substantial rallies. On a positive note, the MACD indicator triggered a new long signal by crossing above the 0-line, adding to the short-term optimism. Featured image from iStock, chart from TradingView.com
Kuwait’s Capital Markets Authority has officially confirmed the commitment to “absolute prohibition” of virtually all crypto operations in the country.
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The Spring Development Bank is Myanmar’s first financial institution to run entirely on crypto and blockchain.
