Day: August 18, 2023

Analysts are bullish on Aave, STEPN, and Pomerdoge in 2023

Three of the thousands of cryptocurrencies in 2023 have stood out for their approach and implementation of unique technology. Presently, investors are exploring Aave (AAVE), STEPN (GMT), and Pomerdoge (POMD), and retain a bullish outlook. Aave price performance Aave is a decentralized, open-source, and non-custodial money market protocol.  Each depositor can get interest by providing liquidity in different lending pools. Moreover, borrowers can get access to over-collateralized loans. Aave is trading at $65.84 on Aug. 14, 2023, within the $63.60 and $68.46 range in the past week.  In addition, AAVE…

Sub $20,000 Nightmare Looms, Analyst Foresees Extended Downturn

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In a shocking twist, Bitcoin (BTC), the undisputed king of cryptocurrencies, has plunged to levels not seen since the early days of 2023. The battle-hardened Bitcoin bulls have suffered another crushing defeat, leaving investors on edge, anxiously pondering whether the dreaded sub $20,000 abyss will haunt them again. With relentless uncertainty gripping the market, the burning question lingers: Has Bitcoin truly hit rock bottom, or is BTC in for an even darker descent? Bitcoin Path Aligned With 1930 Stock Market Crash According to Mike McGlone, Bloomberg’s Senior Macro Strategist, Bitcoin’s…

Binance Connect goes dark, Prime Trust is bust and PayPal unveils Crypto Hub

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It’s been another week of mixed developments in the crypto industry, with established players winding down operations while newcomers introduce new crypto features and services.  Binance’s buy-and-sell crypto arm was shut down on Aug.16, with the crypto exchange remaining under widespread regulatory scrutiny, affecting key partnerships for its operations worldwide. Crypto custodian Prime Trust filed for bankruptcy protection following months of uncertainty regarding the state of its finances. Meanwhile, in better news, BitGo raised millions of dollars in a fundraising round backed by a new group of investors. Some fresh…

Crypto grants foster innovation amid venture capital exodus

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As the bear market keeps slashing venture capital investments in the crypto industry, alternative funding options, such as grants, have been gaining traction as a means of supporting the community while enabling the growth of established projects.  According to Blockchain Grants, at least 40 crypto projects are currently offering grants for developers working on Web3 solutions, while data from Cointelegraph Research indicates that the market downturn has left a void in crypto venture capital, resulting in a 30% drop in funds injected into Web3 projects over the past 12 months.…

XRP Ruling Needs Appeals Court Review, SEC Says

“The rulings that the SEC seeks to appeal were legal determinations about the existence of investment contracts based on undisputed facts. The undisputed facts (e.g., Order at 23 (Programmatic Sales are ‘blind bid/ask transactions’)) present a legal question – can an issuer’s offers and sales on crypto asset trading platforms create a reasonable expectation of profits based on the efforts of others? This legal question is at issue in a number of pending cases, and a Second Circuit ruling will have ‘precedential value,’” the filing said. Source

Algorand Faces Tough Times, Records New All-Time Low As Crypto Market Plunges

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Algorand’s (ALGO) performance on the charts has been nothing short of a rollercoaster. According to data from CoinGecko, yesterday, the asset’s value plummeted to a historical bottom, and it’s currently down by nearly 10% in the past 24 hours. Algorand Records New Low Just yesterday, amid the significant downturn in the crypto market, Algorand’s price fell below notable support. The asset dropped to a price of $0.0905 despite maintaining its stability and striving to hold its ground above the $0.11 mark over the past week. This price move resulted in more than…

Lightning Is Key to Bitcoin Adoption

The current market price of Bitcoin, approximately $29,500, puts the prospect of owning a full bitcoin outside of the reach of most people. However, each bitcoin is subdivisible into one hundred million sub-units called “satoshis,” allowing anyone to exchange fiat-to-bitcoin in smaller amounts. Bitcoin investors refer to investing in smaller increments as “stacking sats.” This, paired with Layer Two (L2) integrations like the Lightning Network, are seen by many as the pathway to increasing Bitcoin use cases and elevating its role as a medium of exchange in commerce. Source

IBM blockchain and AI expert says ChatGPT poses several ‘key risks’ for enterprise use

IBM vice president and chief technology officer of IBM Automation, Jerry Cuomo, recently published a blog post laying out what he claims are several risks associated with using ChatGPT for enterprise.  There are several key risk areas, according to the blog post, that businesses should consider before operating ChatGPT. Ultimately, however, Cuomo concludes that only non-sensitive data is safe with ChatGPT: “Once your data enters ChatGPT,” writes Cuomo, “you have no control or knowledge of how it is being used.” Per the post, this type of unintentional data leakage could…

XRP Pain May Not Be Over Following This Decision In The Ripple Vs SEC Case

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The United States Securities and Exchange Commission (SEC) has reopened old wounds after a federal Judge grants the regulator’s request to file a new appeal against Ripple.   Ripple And SEC Legal Battle Continues Ripple, the crypto firm behind XRP cryptocurrency, had secured a partial victory in July in its case against the SEC that had raged on for almost three years. However, the regulator has not taken this lying down as on Thursday, August 17, Judge Analisa Torres reportedly gave official approval to the SEC’s motion to file an interlocutory…

A Weekly Digest of Everything in Real-World Assets

It could be a smart business play for Republic, which noted how blockchains can increase access and opportunities to invest in assets that are usually off limits to most people. “For millions of global retail investors, investing in private assets like startups, real estate, and fine art is opaque, highly illiquid, and mostly inaccessible,” Andrew Durgee said in a statement. “Tokenization solves all of these problems. It’s why we built Republic Wallet.” Source