In 2020, the SEC sued Ripple on allegations that the firm sold unregistered securities. Ripple has historically maintained a distance from XRP, the token that powers some of its products, and the XRP Ledger network. But any progress in the case has an impact on XRP prices. Source
The financial media often points out Bitcoin’s (BTC) correlation to big tech. “Bitcoin is trading like a tech stock” is a common narrative alongside BTC’s often acute inverse-relationship with the United States dollar. But are these correlations set in stone, and can they be useful for predicting future price moves? Let’s take a closer look at several reports analyzing the relationship between Bitcoin and various asset types. Bitcoin’s historic correlations vary across timeframes A report published in October 2022 by the Multidisciplinary Digital Publishing Institute arrived at several key conclusions…
“Given the many issues that are yet to be resolved, any decision on a CBDC in Australia is likely to be some years away,” the report said with the caveat that the project did not set out to provide a complete assessment of the costs, benefits, risks and other implications of introducing a CBDC. “Instead, it was more narrowly focused on exploring how a CBDC could be used by industry to enhance the functioning of the payments system.” Source
“Sharp upticks in short-term holder supply in loss tend to follow ‘top heavy markets’ such as May 2021, Dec 2021, and again this week,” one observer said. Source
Shibarium has detailed its fourth upgrade, highlighting system optimizations, the introduction of new monitoring tools, and forthcoming governance structures. On Aug. 22, the crypto platform Shibarium, the network for the Shiba Inu (SHIB) cryptocurrency, communicated its progression into a fourth upgrade. Based on the letter from a representative named “Shy,” the platform underwent “two days of testing and tweaking parameters” and has reached a state where it’s now optimized, albeit still in testing. However, the commencement of block production offers tangible proof of some development. An addition cited in the…
FTX founder Sam Bankman-Fried has seemingly been doing it tough behind bars, eating only bread with peanut butter to accommodate his vegan diet, while exhausting his supply of prescription medication. In the same hearing where Bankman-Fried pleaded not guilty to seven fraud-related charges, Bankman-Fried’s lawyers pleaded for the former FTX CEO to receive better treatment inside Brooklyn’s notorious Metropolitan Detention Center (MDC), according to an Aug. 22 transcript shared by the Inner City Press. Bankman-Fried’s attorneys claimed that due to the lack of vegan options provided by the prison, he…
Bitcoin (BTC), the leading cryptocurrency in terms of market capitalization, is displaying persistent indications of an ongoing downtrend. Currently oscillating between the $26,000 level and the $25,800 mark, it is edging closer to a crucial support level at $25,400. The significance of this threshold cannot be overstated for BTC bulls, as it holds the potential to halt the ongoing decline. Bitcoin Faces Crucial Levels, Analyst Warns Of Potential Dip Bitcoin finds itself at a critical juncture as it tests a crucial support level, according to renowned crypto analyst Ali Martinez.…
Don’t worry, your NFTs aren’t going to be lost to the ether anytime soon. Source
BNB price (Binance coin) is attempting a recovery from $202 against the US Dollar. The price could start a strong increase if it clears the $215 resistance level. Binance coin price is slowly moving higher from the $202 zone against the US Dollar. The price is now trading below $230 and the 100 simple moving average (4 hours). There was a break above a key bearish trend line with resistance near $208 on the 4-hour chart of the BNB/USD pair (data source from Binance). The pair might gain bullish momentum…
Ethereum price is facing many hurdles below the $1,700 resistance against the US Dollar. ETH could extend its decline below the $1,580 and $1,550 levels. Ethereum is still struggling to recover above the $1,700 and $1,720 levels. The price is trading below $1,680 and the 100-hourly Simple Moving Average. There is a major bearish trend line forming with resistance near $1,665 on the hourly chart of ETH/USD (data feed via Kraken). The pair could start another decline if it breaks the $1,580 support in the near term. Ethereum Price Faces…