Month: June 2024

Understanding Zero-Knowledge Proofs: A Deep Dive into Blockchain Privacy

Zero-knowledge proofs (ZKPs) have become a cornerstone in the realm of blockchain security, offering a way to verify the validity of a statement without revealing any additional information. Originating from a 1985 academic paper, ZKPs have evolved to play a crucial role in enhancing privacy and security in blockchain applications, according to Chainalysis. What is a Zero-Knowledge Proof (ZKP)? A zero-knowledge proof is a cryptographic method that enables one party (the prover) to convince another party (the verifier) of the truth of a statement without…

Axelar price surges amid new Ripple partnership

Ripple’s XRP Ledger has announced a new collaboration effort with Axelar, a programmable blockchain interoperability platform. AXL price surged on Wednesday as Ripple will use Axelar as the exclusive bridge for its XRPL EVM sidechain. Per data from CoinMarketCap, AXL shot up from below key resistance at $0.76 as Bitcoin and the rest of the altcoin market reacted to US CPI data. The token’s price reached highs of $0.81 and was up 6% at the time of writing. The XRPL EVM sidechain Ripple developers announced Axelar’s partnership for the Ethereum…

Euro’s Reserve Currency Status Threatened as Its Share of Foreign Reserves Holdings Drops

A report from the European Central Bank indicated that the euro’s share of foreign exchange reserves declined by one percentage point to 20% in 2023. According to the report, the continued diversification of global reserve portfolios into nontraditional currencies threatens to further erode the euro’s share of foreign exchange reserves. Euro’s Decline Coincides with US […] Source CryptoX Portal

UNI Eyes Set on Further Gains

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UNI price started a fresh increase above the $9.50 resistance. Uniswap is showing positive signs and might eye more upsides above the $10.00 resistance. UNI started a fresh increase above the $9.50 resistance zone. The price is trading above $9.60 and the 100-hourly simple moving average. There is a key bearish trend line forming with resistance near $10.15 on the hourly chart of the UNI/USD pair (data source from Kraken). The pair might aim for more upside if there is a clear move above the $10.20 resistance. UNI Price Holds…

Uzbek Court Sentences Student to 10 Days in Prison for Crypto Sales

A 24-year-old Termez State University graduate has been sentenced to 10 days of administrative imprisonment for selling cryptocurrency notcoin. Termez State University is a public institution located in the capital of Surkhandarya province, Uzbekistan. The court found him guilty of violating laws governing the circulation of crypto assets. The case began when a complaint was […] Source CryptoX Portal

XRP Price on Edge: Potential Slide Resumption Looms

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XRP price failed to recover above the $0.50 resistance zone. The price is again moving lower and there is risk of more downsides below $0.4840. XRP is still showing bearish signs and struggled near $0.50. The price is now trading below $0.4920 and the 100-hourly Simple Moving Average. There is a key contracting triangle forming with resistance at $0.4950 on the hourly chart of the XRP/USD pair (data source from Kraken). The pair could recover, but the bears might be active near the $0.4950 resistance. XRP Price Dips XRP price…

More Downside Risks in Sight

Ethereum price failed to clear the $3,650 resistance. ETH declined again after the Fed decision and now shows bearish signs below the $3,550 level. Ethereum started a fresh decline below the $3,580 support zone. The price is trading below $3,550 and the 100-hourly Simple Moving Average. There is a major bearish trend line forming with resistance near $3,610 on the hourly chart of ETH/USD (data feed via Kraken). The pair could extend losses if it stays below the $3,600 resistance zone. Ethereum Price Dips Again Ethereum price attempted a recovery…

Is it Time To Buy?

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Solana-based altcoins and artificial intelligence (AI)-based coins have seen a surge in investment and price appreciation in recent months. Among the notable winners is io.net’s native token IO, which surged above the $5 mark and saw a substantial 50% increase within hours of a major listing announcement.  What Drives Investor Interest In io.net?  The world’s largest cryptocurrency exchange, Binance, revealed that io.net would be added to various platforms, including Binance Simple Earn, Binance Convert, Binance Margin, Binance Futures, and Binance Auto-Invest.  Related Reading This listing news sent IO to a…

Post-Fed Recovery Fails to Materialize

Bitcoin price started a strong increase above $68,500. BTC even tested $70,000, but post-fed there was a major bearish reaction. Bitcoin started another decline from the $70,000 resistance zone. The price is trading below $68,550 and the 100 hourly Simple moving average. There is a connecting bullish trend line forming with support at $67,500 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could recover but the upsides might be limited above the $68,550 level. Bitcoin Price Dips Again Bitcoin price started a steady increase…