Day: July 14, 2023

XRP tops Bitcoin on Upbit with $2.6B in trading volume in 24 hours

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The trading volume of XRP tokens on the South Korean crypto exchange Upbit has surpassed that of Bitcoin (BTC) in the past 24 hours. The XRP/KRW trading pair saw $2.6 billion in trading volume in the last 24 hours owing to Ripple’s partial win against the United States Securities and Exchange (SEC) Commission in its long-drawn court battle. The buying frenzy for XRP saw the token account for 46% of all trading volume on Upbit followed by Bitcoin with just 5% of the total share. XRP token led the bullish…

Monochrome revises spot bitcoin ETF application in Australia

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Share Share on Twitter Share on LinkedIn Share on Telegram Copy Link Link copied Australian-based asset management firm Monochrome is making another push for a licensed spot bitcoin ETF, joining a wave of US filings. Australian crypto investment firm Monochrome Asset Management has submitted an updated application to launch a spot bitcoin exchange-traded fund (ETF) on the Australian Securities Exchange (ASX) in collaboration with Vasco Trustees. The proposed Monochrome Bitcoin ETF (IBTC) would provide retail Australian investors with direct exposure to bitcoin (BTC) and ethereum (ETH), as announced on July…

HIVE Blockchain rebrands to reflect its AI and web3 push

HIVE Blockchain, a publicly traded bitcoin mining firm, switched to AI and cloud computing. HIVE is also launching its GPU rental and cloud computing service. AI boom continues to gain momentum. Many sectors of the global economy and even governments are integrating it into their processes. HIVE Blockchain, a Canada-based publicly listed bitcoin (BTC) mining firm, is repositioning itself to take advantage of the rapidly evolving technology. According to a July 12 blog post, HIVE Blockchain has changed its name to HIVE Digital Technologies Ltd. to reflect its expansion push…

Can XRP price hit $1? Watch these levels next

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The price of XRP (XRP) has skyrocketed in the aftermath of a federal court ruling saying that its sales on crypto exchanges complied with U.S. securities laws. On July 14, XRP price retreated by about 10% to $0.76, but compared to its lowest price the previous day, it was still up around 65%. Related: Why is XRP price up today? At its highest in the last 24 hours, the XRP/USD pairreached $0.93, its best level since December 2021, just shy of hitting the $1 mark. XRP/USD daily price chart. Source:…

Multichain stops operations over lack of funds

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Cross-chain router protocol Multichain has announced that it is “forced to cease operations” because of the lack of operational funds. The announcement follows a report from blockchain analytics firm Chainalysis saying that withdrawals appear to be a “rug pull” by insiders.  On July 14, Multichain’s official Twitter account announced that it will be finally halting its operations. The team said that a “lack of alternative sources of information and corresponding operational funds” has forced them to shut down their business activities. 1. On May 21, 2023, Multichain CEO Zhaojun was…

AI proposal sparks conflict in Hollywood as SAG-AFTRA goes on strike

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Artificial intelligence (AI) has crept into another arm of Hollywood sending the industry back into an already established debate over its usage as Duncan Crabtree-Ireland, the Screen Actors Guild‐American Federation of Television and Radio Artists (SAG-AFTRA)’s chief negotiator, revealed a proposal from Hollywood studios. During a press conference on July 13 in which Hollywood actors confirmed that they were going on strike, Crabtree-Ireland revealed a proposal from Hollywood studios entailing an AI proposal featured in the statement made by the Alliance of Motion Picture and Television Producers (AMPTP) after futile…

Crypto Bridging Protocol Multichain Ceases Operations

Zhaojun was “taken away” by Chinese police on May 21 with his computers, phones, hardware wallets and mnemonic phrases all confiscated, Multichain said. Since then, the team has had no contact with the boss and has maintained day-to-day operations relying on existing access to servers that had not been revoked and with intermediate assistance from Zhaojun’s sister, who has now also been taken into custody. Source

Bitcoin bulls ‘have work to do’ after XRP price spikes 104%

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Bitcoin (BTC) consolidated near $31,000 on July 14 after a classic short squeeze sparked new yearly highs. BTC/USD 1-day chart. Source: TradingView BTC liquidates $50 million shorts in new squeeze Data from Cointelegraph Markets Pro and TradingView showed BTC price movements returning to cement support after rapid gains the day prior. Already tipped for a trip higher, Bitcoin reacted instantly to news that a United States judge had supported the idea that altcoin XRP (XRP) was not a security. This was taken by markets as a blow to regulator the Securities…