Day: January 17, 2024

Ripple Faces Heated Legal Debate Amid Market Turbulence

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The crypto community is currently embroiled in a debate over the right for Ripple to sell XRP tokens, sparked by a recent exchange between XRP advocate Bill Morgan and a crypto analyst known as “Darkhorse” on social media platform X. This discussion delves into the legal complexities and market implications of Ripple’s actions concerning XRP sales. There is nothing that prevents Ripple selling its XRP. Anyone can sell an asset it owns. The issue is whether in the US it needs to register its sales and offers of XRP with…

MetaMask’s Secret Weapon and Ethereum’s Dencun Debacle

MOORE IS MORE. Ethereum co-founder Vitalik Buterin, the de facto high priest of the world’s largest smart-contracts blockchain, tossed out last week on a Reddit “Ask Me Anything” that it would be “reasonable” to raise the network’s “gas limit” – a very technical way of referring to the amount of transactions that can get jammed into each new block. He suggested an increase to “40M or so,” implying a 33% increase over the current limit of 30 million gas. (Yes, for the underinitiated, a unit of gas, in this context,…

Crypto Analyst Predicts XRP Price Will Surge 800% To Reach $5 In The Next 90 Days

Crypto analyst Egrag Crypto recently made a bold prediction as to the future trajectory of the XRP price and asserted when exactly the crypto token will hit this price level. Considering XRP’s current price level, it will no doubt be interesting to see how this prediction plays out.  “XRP To $5 In 90 Days” Egrag mentioned in an X (formerly Twitter) post that XRP will rise to $5 in 90 days. The analyst also suggested that this price surge was just the beginning of XRP’s meteoric rise, as he said…

Ethereum likely to surpass Bitcoin in midterm

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Ethereum is outperforming Bitcoin, driven by market anticipation of potential spot ETH ETF approvals. Ethereum (ETH) is showing signs of outperforming Bitcoin (BTC) in the midterm, according to QCP Capital’s latest market update report. This shift in market dynamics is linked to the anticipation of potential approvals for spot ETH ETFs. 6/ The next major crypto events are BTC halving (mid-Apr), and potential ETH Spot ETF approvals from May. In the meantime, crypto might take some direction from macroeconomic events. — QCP Capital (@QCPCapital) January 17, 2024 Recently, the U.S.…

Does Howard Lutnick Know ‘the Truth’ About Tether?

Fresh in from the World Economic Forum, in Davos, Switzerland: Howard Lutnick, chairman and CEO of Cantor Fitzgerald, has reiterated claims that Tether has the money the stablecoin issuer claims to have. Cantor has been a Tether custodian since late 2021, and as such has been able to examine portions of the stablecoin issuer’s balance sheet, Lutnick said. Source

Developer Hails ETH Burning, Will Ethereum Break $3,000?

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Péter Szilágyi, an Ethereum (ETH) developer, has lauded EIP-1559 and its ETH burning mechanism as “the great equalizer.” Taking to X on January 16, Szilágyi admired EIP-1559’s ability to “level the playing field between validators and regular users.” Developer: EIP-1559 Is A “Great Equalizer” Since the implementation of EIP-1559, Ethereum adjusted how users bid gas fees, introducing the “base fee,” which was burned or sent to an irretrievable wallet. So far, data from Ultrasound Money shows that over 3.9 million ETH have been destroyed. In the last week alone, the Ethereum network…

Judge scrutinizes 90-year-old securities act

The Coinbase vs. SEC case takes center stage as the leading exchange is set to argue why its traded tokens are not unregistered securities.  In June 2023, the SEC sued Coinbase, alleging the exchange traded 13 unregistered securities. The case is being heard by Judge Katherine Polk Failla today in the Southern District of New York. Insider reports from the hearing have revealed arguments and questions being asked by Judge Katherine Polk Failla. The judge scrutinized the Securities Act of 1933 as outdated by quoting pro-Bitcoin Senator Cynthia Lummis’ statement…