Month: September 2023

XRP Price Prediction – Key Reasons Why Bulls Could Aim Rally To $0.60

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Ripple’s token price is recovering higher from $0.458 against the US Dollar. XRP price could start a fresh rally if it clears the $0.505 and $0.515 resistance levels. Ripple’s token price is attempting a move above $0.510 and $0.525 against the US dollar. The price is now trading below $0.505 and the 100 simple moving average (4 hours). There was a break above a major bearish trend line with resistance near $0.4840 on the 4-hour chart of the XRP/USD pair (data source from Kraken). The pair might gain bullish momentum…

Dogecoin inspires analysts to evaluate 3 other meme coins

In the crypto market, meme coins have emerged as a unique niche inspired by internet memes and trending topics.  Dogecoin (DOGE) is the pioneer of meme coins, created by software engineers Jackson Palmer and Billy Markus in December 2013. It was designed for quick and easy payments as a decentralized cryptocurrency. Although it was initially thought of as a “joke coin,” Dogecoin’s dedicated community embraced this characterization. As a result, it paved the way for other emerging meme coins.  This article explores the top three contenders that could follow in…

Decentralized stablecoins could dominate crypto: MakerDAO founder

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Decentralized stablecoins may eventually dominate the stablecoin market, so long as crypto “ends up living up to its potential,” says Rune Christensen, the co-founder of DeFi pioneer MakerDAO. Speaking to Cointelegraph’s Andrew Fenton at Token 2049 in Singapore, Christensen aired his thoughts on the future of decentralized stablecoins such as Dai (DAI) and their role in the wider crypto economy. They discussed a presentation by Castle Island Ventures partner Nic Carter at the TOKEN2049 conference in Singapore in which he said that interest-bearing stablecoins could become 30% of the market…

Ethereum Merge anniversary — 99% energy drop but centralization fears linger

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One year after its historic transition to proof of stake, Ethereum has seen a massive reduction in energy use and a marked improvement in access to the network, however, a number of technical issues still mark the road ahead. The Merge was executed on Sept. 15, 2022 — an event that saw the Ethereum mainnet merging with a separate proof-of-stake blockchain called the Beacon Chain. The most noticeable improvement to Ethereum post-merge was the seismic shift from an energy-guzzling proof-of-work (PoW) consensus mechanism to PoS, which saw the Ethereum network…

North Korea linked to latest crypto hacks, surpassing $270m

Recent investigations link North Korea’s Lazarus Group to a series of crypto hacks totaling over $270 million in stolen assets across major platforms in the past 102 days. Investigations suggest the latest high-profile hacks targeting crypto entities have been perpetrated by North Korean hackers, particularly the notorious Lazarus Group, with over $270 million stolen over the past 102 days. Data from a consolidated list of the last four massive crypto-related hacks sheds light on this. The list was compiled by MetaMask’s lead product manager Taylor Mohana (Tayvano), and featured contributions…

Bitcoin Bulls Keep Pushing And Its Good Signs of A Fresh Rally

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Bitcoin price is holding gains above the $26,200 zone. BTC seems to be forming a base for a fresh increase above $26,850 in the coming sessions. Bitcoin is eyeing a key upside break above the $26,850 level. The price is trading above $26,100 and the 100 hourly Simple moving average. There is a key bullish trend line forming with support near $26,300 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair seems to be setting up for a fresh rally above the $26,850 resistance. Bitcoin…

Hedera unveils open-source toolkit for stablecoin developers

With the SDK, Hedera wants to bring more stablecoin applications, sparing developers from blockchain hurdles. Hedera, an open-source, leaderless proof-of-stake network, is set to compete with blockchain giants like Ethereum (ETH) in deploying stablecoins with a new toolkit. In a blog post on Sept. 14, Hedera revealed a new open-source tool to build stablecoin applications on its network. The SDK named Stablecoin Studio supports 3rd-party data sources and API integrations with pre-determined custody and KYC/AML providers, allowing stablecoin issuers to provide public disclosures of collaterals. “For stablecoins to be widely…

North Korean crypto hacks down 80% but that could change overnight: Chainalysis

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Cryptocurrency stolen by North Korea-linked hackers is down a whopping 80% from 2022 — but a blockchain forensics firm says it isn’t necessarily a sign of progress. As of Sept. 14, 2023, North Korea-linked hackers have stolen a total of $340.4 million worth of cryptocurrency, down from a record $1.65 billion reported funds stolen in 2022. Cryptocurrency funds stolen by North Korean-backed groups between 2016-2023. Source: Chainalysis “The fact that this year’s numbers are down is not necessarily an indicator of improved security or reduced criminal activity,” Chainalysis said in…

Robinhood’s 35 Trillion Token Acquisition Sparks Speculation Of Imminent Price Surge

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In a bold move amidst the cryptocurrency market’s recent volatility, US-based trading platform Robinhood has significantly increased its Shiba Inu (SHIB) tokens holdings.  Despite the native token of the Shiba Ecosystem experiencing a downturn, Robinhood has added over 800 billion SHIB tokens to its portfolio. Robinhood’s SHIB Portfolio Hits The Trillions On August 30, crypto data tracking platform Arkham Intelligence revealed that Robinhood ranked as the fifth-largest holder of Ethereum (ETH) and owned 34.086 trillion SHIB tokens, valued at approximately $279.85 million. Robinhood’s SHIB holdings as of August 30. Source:…

Deutsche Bank partners with Swiss firm Taurus to offer digital asset services

On Sep. 14, Deutsche Bank, an international financial institution headquartered in Germany, divulged its strategic foray into crypto and blockchain technology after collaborating with Taurus, a Swiss enterprise with expertise in multiple domains—ranging from the issuance of digital currencies to the secure custody and trading of tokenized assets and non-fungible tokens (NFTs). Paul Maley, the head of Deutsche Bank’s securities services, stated that this move aligns with the growing demand for digital financial products among their clients. Initially, Deutsche Bank aims to provide custody services for selected crypto and certain…