Tether has released its latest reserves attestation for USDT, with its excess reserves increasing to $3.3 billion.

(Shutterstock)

Birds migrating (Barth Bailey/Unsplash)

<p>On-chain data shows a pattern in the stablecoin shark and whale holdings that may suggest the Bitcoin rally could make a return in the near future.</p> <h2>Stablecoin Sharks & Whales Have Been Accumulating Recently

According to data from the on-chain analytics firm Santiment, the sharks and whales of the major stablecoins have been increasing their reserves while Bitcoin has been struggling recently.

The sharks and whales are two of the largest cohorts in the sector, with investors belonging to the former holding at least $100,000 and at most $1 million worth of the asset, while the latter has wallet balances in the $1 million to $10 million range.</p> <p>Due to such large holdings, these investors can potentially move around a large number of coins at once, something that can make them influential entities in the market.</p> <p>In the context of the current discussion, the sharks and whales of stablecoins are of interest. In particular, the four largest players in the market are of relevance here: Tether (USDT), USD Coin (USDC), Binance USD (BUSD), and Dai (DAI).</p> <p>Santiment has used its <a href= "https://www.newsbtc.com/bitcoin-news/bitcoin-sharks-continue-accumulation-whales-stagnate/" rel="noopener" target="_blank">Supply Distribution</a> metric to track the holdings of these humongous holders and this indicator tells us about the percentage of the supply that each group in the market is holding right now.</p> <p>Here is a chart that shows the trend in this metric specifically for the sharks and whales of the top 4 stablecoins in the sector:</p> <p><img alt="Stablecoin Sharks & Whales" class= "alignnone aligncenter" height="1777" src= "https://pbs.twimg.com/media/F2V_0vHbUAAiuuV?format=jpg&name=4096x4096" width="2796"></p> <p>As displayed in the above graph, the holdings of these stablecoin sharks and whales have been on the rise recently. Interestingly, while this trend has formed, the price of Bitcoin has dipped below the $30,000 level.</p> <p>A similar pattern in the supply held by these large investors had also formed last month, as these investors had been buying more stablecoins, while BTC had been on a decline.</p> <p>What followed this period of <a href= "https://www.newsbtc.com/news/how-did-shiba-inu-price-react-to-3-trillion-shib-investor-accumulation/" rel="noopener" target="_blank">accumulation</a> back then was a sharp Bitcoin rally that had taken the cryptocurrencys price above the $30,000 level.</p> <p>An explanation of this curious trend may lie in what the holdings of these...

The government of Shanghai has implemented its strategic plan for the development of its urban blockchain digital infrastructure system between the years 2023-2025.

Money to burn cash on fire (Jp Valery/Unsplash)

Investors and entrepreneurs can create and execute investment agreements directly on the blockchain.

(Kevin Ku/Unsplash)

Crypto projects raised $129 million in funding last week (Pixabay)

Dogecoin (DOGE) has been witnessing a notable recovery in recent days, and technical analysis suggests that an ascending trendline is providing significant support to this upward movement. 

An ascending trendline represents a price chart that connects a series of higher lows over time. It acts as a visual guide to tracking the price movements of an asset, indicating a bullish sentiment in the market. 

As of the latest data from CoinGecko, Dogecoin price stands at $0.079, experiencing a minor 24-hour slump of 0.9%. However, it has still managed an impressive seven-day rally of 7.2%, hinting at the potential for further gains.

Understanding DOGEs Ascending Trendline

An ascending trendline is essential for traders and analysts as it helps them visualize an assets market sentiment and potential price levels. When the asset price approaches the ascending trendline, it indicates a likely level of support, and if the price breaks above the trendline, it suggests an uptrend resumption.

With sustained buying pressure, DOGE buyers have the potential to re-challenge the last swing high at $0.083. A bullish breakout for DOGE above this resistance level would hint at the resumption of the uptrend, potentially pushing the meme-inspired cryptocurrencys market value higher by 21.7% to reach $0.095.

Positive Indicators On Dogecoin Daily Chart

Meanwhile, several indicators signal bullish momentum, as a recent price analysis notes. The Exponential Moving Average (EMA) Ribbon, a cluster of EMAs that smooth out price data, displayed a bullish crossover, further reinforcing the upward momentum.

Moreover, the Moving Averag...

ENS founder Nick Johnson urged users to check their addresses and reclaim their deposited funds.

Binance, the worlds largest crypto exchange by trading volume, recently announced that it had secured a license to operate in Dubai after meeting the conditions needed for the grant of an Operational Minimum Viable Product (MVP) license. The firm has emerged as the premier platform to secure the highly coveted accreditation from Dubais Virtual Asset Regulatory Authority (VARA).

Binance Is Blazing The Trail In The Cryptocurrency Ecosystem

Last year, Binance was granted a Provincial License by Dubais Virtual Assets Regulatory Authority (VARA), enabling it to establish domestic bank accounts to preserve clients funds, offer custody and payment services, and run a crypto exchange. 

However, the newly acquired Operational MVP license allows the crypto exchange to legally conduct two more activities which are virtual asset broker-dealer services and virtual asset exchange services. Although these activities are only limited to qualified institutional and retail investors.

Obtaining the Operational MVP license is not only an outstanding milestone but evidence of Binances dedication to becoming a regulatory-compliant exchange platform. According to the firm, they are working with local regulators to ensure that their operations are designed to meet the countrys unique framework for Virtual Asset Service Providers (VASPs). 

Improving Service Delivery and Ensuring Security

In recent years, the United Arab Emirates has emerged as the bastion of blockchain technology, building an ecosystem that allows innovation and security to thrive alongside the other. The pivot from Provisional to Operational MVP license will provide users in Dubai with improved access to services. Participants can now convert their virtual assets to fiat currency by following the guidelines laid down by VARA.

Institutions and individuals who are eligible for these services can utilize the market assurance standards and protections crafted especially for the virtual asset sector. According to Binance, the license signifies the creation of the first fully regulated exchange in Dubai after meeting the compliance requirements of FATF, thereby establishin...

MicroStrategy CEO Michael Saylor speaks at the Bitcoin 2021 Convention (Joe Raedle/Getty Images)

Bitcoin is a geographic chameleon. And, as such, this magic internet money that lives on a decentralized, permissionless system is changing the world right in front of us.

One of Bitcoins many superpowers is that it takes on different aliases in various cultural environments. For many comparatively-wealthy North Americans, views on Bitcoin range from an annoying Thanksgiving dinner conversation topic to a technological breakthrough that may sever the states monopoly on money. At the same time, any American who is underrepresented and underserved by the legacy financial system is more likely to find that Bitcoin is a means of transferring value without having to have a bank account.

For someone living in Zimbabwe, where the inflation rate is over 100% year over year, Bitcoin is a lifeline against fiat currency devaluation. Salvadoran citizens use bitcoin as a currency, Vietnamese citizens see bitcoin as a robust store of value. The list of Bitcoins various offerings goes on and on.

But no matter where you find yourself in the world, Bitcoin should represent freedom. Ironically, for people in the developing world, there are far more important stressors consuming their minds than those of the philosophical musings of Bitcoiners living in the developed world. For example, Togolese citizens just want a means to independently transact and save in a currency that, while volatile, isnt inflating away at an alarming pace.

Farida Nabourema is a Togolese activist who has bravely fought for democracy in her country. She unashamedly speaks out against one of the worlds most-brutal and one of the continents longest-reigning autocracies. When Nabourema was just 13 years old, she began her activism by learning from her father, who had followed in his own parents courageous footsteps. She has founded and led national movements, written over 400 articles calling out the oppression and dictatorship in Togo, appeared on TED and countless podcasts and much more.

Nabourema would tell you that when she first heard about Bitcoin, she was skeptical. But, like many of us, the more she learned about Bitcoin, the more she realized how perfectly it fit with her advocacy for democracy, specifically as it relates to financial freedom and literacy for women and youth.

Below is some brief insight into Nabouremas thoughts about Bitcoin and why its important to close its cultural gender gap.

How did you first learn about B...

(jarmoluk/Pixabay)

Coinbase CEO Brian Armstrong (CoinDesk)

U.S. Department of Labor Building (Department of Labor)

CRV's price in Korean won terms (TradingView)

A vulnerability in the Vyper programming language widely used by DeFi protocols like Curve Finance led to the exploit of multiple Curve liquidity pools on Sunday, July 30.

YouTube channels, including Sentdex and Data School, offer in-depth data science and machine learning explorations to enhance data-driven decision-making.

After a shocking revelation by CEO Brian Armstrong, Coinbase, the Nasdaq-listed crypto exchange, saw its share price plummet by more than 10%. The reason: a controversial request from the US Securities and Exchange Commission (SEC) prior to the lawsuit against Coinbase. The SECs demand? That Coinbase halts trading in all cryptocurrencies other than Bitcoin.

Brian Armstrong, Coinbases CEO, revealed the SECs absurd request in an exclusive interview with the Financial Times. They came back to us, and they said... we believe every asset other than Bitcoin is a security, Armstrong said. And, we said, well how are you coming to that conclusion, because thats not our interpretation of the law. Remarkably, the SEC answered, were not going to explain it to you, you need to delist every asset other than Bitcoin.

SEC Wanted To End The Entire US Crypto Industry

This unprecedented move by the SEC indicates an intent to assert regulatory authority over the entire altcoin market. The SECs case against Coinbase identified 13 traded cryptocurrencies as securities, asserting that by offering them to customers, the exchange fell under the regulators remit.

However, the SECs request for Coinbase to delist over 200 tokens suggests a push for even wider authority over the crypto industry under the chairmanship of Gary Gensler.

Armstrong was quick to point out the potential implications of such a move. If Coinbase had agreed, that could have set a precedent that would have left the vast majority of the American crypto businesses operating outside the law unless they registered with the commission, he said.

The CEO further added, We really didnt have a choice at that point, delisting every asset other than Bitcoin, which by the way is not what the law says, would have essentially meant the end of the crypto industry in the US.

Coinbase (COIN) Plunges Following The News

In the wake of the news, the Coinbase share price (COIN) plummeted in an initial reaction by more than 10%, from $102.35 to $91.94. However, at press time, the price recovered somewhat and traded at $94.76.

The news may have been a shock for COIN investors, as the statement by Brian Armstrong reveals that the approach by the SEC is even harder and worse for the crypto industry (by naming all cryptocurrencies except BTC a security) However, its important to note that it wont have any impact on the SEC-Coinbase lawsuit directly.

Thus, its possible that this was an overreaction of the market. Its also worth noting that the upward trend in COINs 1-day chart remains intact. The price has bounced upwards off the support level at $91.87.

Upbit halts trading of Curve Finance's token after $100 million exploit. (Clint Patterson/Unsplash)

Twitter accounts impersonating Curve Finance have also started to promote a fake refund scheme, further targeting victims of the hack.

Litecoin (LTC) is facing a critical juncture in its price surge, with its value hovering just above $89.52 on CoinGecko, showcasing a modest 0.3% increase in the last 24 hours. However, LTC has endured a slump of 3.6% over the past seven days. 

As the price continues to hover below the crucial resistance level of $95, investors are wondering if the muted performance of Bitcoin (BTC) will hinder LTCs upward trajectory. Furthermore, all eyes are on the upcoming August halving event to determine if it will catalyze significant price action.

Understanding Litecoin Halving

In the context of cryptocurrencies like Litecoin, a halving is a programmed event that occurs when a specific number of blocks are mined on the blockchain. Litecoin, similar to Bitcoin, has a fixed supply cap and new coins are introduced into the market through mining. 

Approximately every four years, the mining reward for each block is cut in half, reducing the rate at which new coins enter circulation. This process is known as halving and is intended to control inflation by gradually limiting the supply of new coins.

LTCs price surge beyond $95 has encountered significant resistance, as this level had previously acted as support in early July. However, as BTCs performance weakened, the support flipped to resistance, creating an obstacle to Litecoins advancement.

The fate of LTCs price action remains closely intertwined with Bitcoins performance, as the latter serves as a bellwether for the broader cryptocurrency market.

Impact Of BTCs Performance

Being the most dominant and influential cryptocurrency, Bitcoin often dictates the markets direct...

The Ethereum ecosystem has continued to see fascinating developments in the past weeks. Among the most notable is the sudden movement from a participant in Ethereums initial coin offering (ICO), who, after a roughly eight-year slumber, has sprung into action due to a reason.

The Ethereum ICO participant, whose address remained inactive for 2,922 days, stirred up by transferring 641 ether, an amount currently valued at nearly $1.2 million.

An Unexpected Move In The Ethereum Ecosystem

The intent behind these transactions was revealed through on-chain analytics X (Twitter) account Lookonchain, noting that the Ethereum ICO participant had moved the funds to stake them. This reason has raised speculation among the crypto community as some suggest that the whale behind this move might know something they dont.

Related Reading: Ethereum Price Recovery Could Soon Fade If ETH Fails To Surpass $1,900

An Ethereum ICO participant woke up after 8 years of dormancy, transferred 641 $ETH out, and started staking.

He received 2K $ETH($3.7M currently) at Ethereum Genesis, the ETH ICO price is ~$0.31.https://t.co/hGoCb22LVr pic.twitter.com/ZO09r9uFMd

Lookonchain (@lookonchain) July 31, 2023

Just over eight years ago, the same address received exactly 2,000 ETH from Ethereums Genesis. This amount of ETH at the time was worth $620 as the Ethereum network arranged an exceptional sale event then that made ETH sell for $0.31 per ETH.

This event was before the network commenced its own token generation, providing a platform for early participants and co-founders to accrue pre-mined ETH. However, fast forward to nearly a decade later today, this same amount of 2,000 ETH is currently valued at...

South Korea pushes forward with its CBDC pilot and targets three potential test regions for issuing and distributing the digital currency.

(Tim Arterbury/Unsplash)

Victoria Harbor, Hong Kong (Unsplash)

A Malaysian energy supplier uncovered an illegal cryptocurrency mining operation stealing power from the local grid on the island nation of Borneo.

(Vitaly Taranov/Unsplash)

Lagos, Nigeria (Nupo Deyon Daniel/Unsplash)

Bitcoin may finally get a trend identity after the July monthly close is done, one trader suggests, with BTC price action wedged below $30,000.

Binance is now officially allowed to offer crypto services to institutional and qualified retail investors in Dubai.

XRP has developed significantly since the recent court ruling in the high-profile case between Ripple and the US Securities Exchange Commission. The court declared that XRP is not a security, leading to a significant rally in its value. 

However, XRP has not made significant progress toward the coveted $1 mark since the initial gains, leaving investors and market observers wondering about its future trajectory.

The characteristics of the larger cryptocurrency market have also hampered XRPs development. XRPs price swings have been impacted by the erratic nature of the cryptocurrency market and the ebb and flow of investor emotion, forcing them to fluctuate without building enough momentum to reach the coveted $1 milestone.

According to a recent XRP price report based on data from TradingView, a crypto analyst who goes by the pseudonym, Juicyho, expressed doubts regarding the likelihood of a swift surge in XRPs value.

XRP Key Resistance Levels To Watch

Juicyho believes that XRP might only experience a substantial rally once it finds strong support around the $0.58 level. Despite the positive impact of the court case on market sentiment, Juicyho suggests that additional factors may be at play, causing the tokens progress to stall.

As of the latest data from CoinGecko, XRP is trading at $0.704, having experienced a 0.8% decline in the last 24 h...

In a recent statement, Wells Fargos Treasury Management officer Shannon Thorp provided an eye-catching price prediction for XRP. The forward-thinking executive anticipates a potential surge in XRPs value to anywhere between $100 and $500 in the short term, specifically within the next 4 to 7 months. This price hike prediction represents an astounding 14,200 % to 71,400% increase from the current trading value.

Finding The Right Best Model

Thorp acknowledges the longstanding debate within the XRP community, where one faction relies solely on chart patterns and trends exhibited by Bitcoin to draw short-term price predictions. On the other hand, another group emphasizes the significance of XRPs utility, believing that its partnerships and the replacement of antiquated systems will be the key drivers of its price. However, Thorp presents a novel perspective, emphasizing that XRP is NOT a security and basing price forecasts on traditional securities logic is counterintuitive to the original vision set forth by the Ripple team.

Expanding on her rationale, Thorp introduces the concept of Liquidity Strength (LS) as a pivotal metric to consider when predicting XRPs future value. To ascertain a price range for the token, she takes into account the total supply, including circulating tokens, burnt tokens, those owned by banks, governments, and individuals, and assumes that Ripple has released all their XRP from escrow.

According to Thorp, if one company were to possess all 100 billion tokens, their Liquidity Strength (LS) in a price range of $1.00 to $5.00 would amount to $100 billion to $500 billion. However, she argues that such a calculation fails to consider the potential growth in the economy, messaging and settling activities, and the continuous benefits derived from using XRP.

Drawing on real-world examples, Thorp compares the tokens potential to that of SWIFT, which handles approximately 44.8 million messages per day. Even if Ripple could capture only 30% of SWIFTs daily value, which she approximates at $7 trillion, it would result in a staggering $2.1 trillion in daily value (roughly 13.2 million messages) for XRP. Considering XRPs quick settlement time of 1 to 5 seconds, the liquidity would indeed be present. However, Thorp highlights the challenge of conducting large transactions with limited Liquidity Strength, as it may require a significant portion of a banks XRP holdings.

XRP Price Prediction

To arrive at her price prediction, Thorp factors in various elements such as all global banks, burnt XRP, individual holdings, XRP distributed to large banks and creators, and tokens available on liquidity hubs and exchanges. She estimates that at any given time, there may be 50 to 75 billion XRP supporting Liquidity Strength (LS). When distributed across approximately 300 to 1000 different banks, liquidity providers, and governments, this wou...

Zero-knowledge (ZK) proofs allow for proving a statements truth without revealing any information beyond its validity.

Binance gets a license to operate more services in Dubai. (Kent Tupas/Unsplash)

Bitcoin prices have been stagnant, trading below the psychological $30,000 level. The coin is technically under pressure, declining from its peaks of around $31,800 recorded in early July 2023. Amid this development, on-chain data reveals that the Bitcoin miner reserve has been increasing, notwithstanding prevailing market conditions, bouncing back from May 2023 lows. According to data from CryptoQuant, the BTC miner reserve stands at 1.841 million as of July 30, up from 1.826 million on May 27.

Bitcoin Miner Reserve Rising

The increasing BTC miner reserve and relatively stable and steady coin prices suggest a sense of optimism among miners. This could improve sentiment and confidence among miners, possibly boosting prices and preventing sellers from pressing the coin even lower. Presently, as mentioned earlier, BTC is trending below $30,000.

In crypto, the Bitcoin miner reserve measures all BTC in the hands of all miners and mining pools. It shows the total number of BTC that is yet to be liquidated. Price-wise, this is important. Miners frequently sell their coins to cover operational costs and realize profits. Therefore, trackers often monitor their trading patterns for valuable insights into market sentiment.

Bitcoin miner reserve trends are important for traders. However, other critical factors could influence prices in f...

Bitcoin daily chart. (CoinDesk Indices)

Interest in Uniswap's UNI token rose after the Curve Finance exploit. (Unsplash)

Brian Armstrong claimed SEC staff said all cryptocurrencies but Bitcoin are securities and requested the exchange delist all other cryptocurrencies.

Memecoin traders have been buying up obscure tokens such as Bald and Based, which have each seen staggering price gains despite questionable utility.

The highest recently generated block reward was 584 ETH, created by a MEV bot front-running transactions during the DeFi chaos.

Chainalysis policy lead Chengyi Ong warned crypto users may eventually have no choice but to deal with offshore unregulated exchanges.

Dogecoin is showing positive signs above the $0.075 resistance against the US Dollar. DOGE could extend its rally if it breaks the $0.0835 resistance zone.

• DOGE is currently trading in a bullish zone above $0.075 resistance against the US dollar.
• The price is trading well above the $0.0765 zone and the 100 simple moving average (4 hours).
• There is a major bullish trend line forming with support near $0.0760 on the 4-hours chart of the DOGE/USD pair (data source from Kraken).
• The price could start another increase if it clears $0.0820 and $0.0835.

Dogecoin Price Remains In Uptrend

In the last Dogecoin price prediction, we discussed how DOGE rallied over 10%. The price extended its increase above the $0.0820 resistance, outperforming Bitcoin and Ethereum.

Finally, it tested the $0.0840 zone. A high was formed near $0.0837 and recently there was a downside correction. There was a minor decline below the $0.080 level. The price traded below the 23.6% Fib retracement level of the upward move from the $0.0695 swing low to the $0.0837 high.

However, the bulls were active near the $0.0765 support. DOGE is trading well above the $0.0765 zone and the 100 simple moving average (4 hours). There is also a major bullish trend line forming with support near $0.0760 on the 4-hours chart of the DOGE/USD pair.

Source: DOGEUSD on TradingView.com

On the upside, the price is facing resistance near the $0.080 level. The first major resistance is near the $0.082 level. A close above the $0.082 resistance might send the price toward the $0.0835 resistance. The next major resistance is near $0.0855. Any more gains might send the price toward the $0.088 level.

Are Dips Limite...

While Ethereum-based protocols have been hit with the majority of the exploit activity, BNB Smart Chain has also seen similar copycat exploits, according to BlockSec.

Today marks eight years since the Ethereum Foundation first announced the rollout of its network.

Bitcoin weekly chart. (CoinDesk Indices)

The popularity of liquid staking tokens could usher in a new age for Ethereum and the rest of cryptocurrency and play a key role in the new bull market.

A number of pools using Vyper have been exploited due to a malfunctioning reentrancy lock that potentially exposes all pools with wrapped Ether (wETH).

Several stable pools on Curve Finance using Vyper were exploited on July 30. Vyper versions 0.2.15, 0.2.16 and 0.3.0 are vulnerable to malfunctioning reentrancy locks.

Bitcoins price consolidation is giving altcoin traders confidence that DOGE, MKR, OP and XDC could break out.

During a recent interview with Bloomberg Wealth, Novogratz touched on topics ranging from investing to Ripples case and BlackRock CEO Larry Fink.

Ethereum is currently the leader in decentralized finance, non-fungible tokens, and smart contracts, and it continues to maintain its position as the dominant cryptocurrency in the altcoin market. This has led to Ethereum having the highest rate of creation of new addresses when compared to the other blockchains. However, data suggests most of these new addresses are dumped just after a few days. 

New Ethereum Wallets Are Used for Only a Short Time

Ethereum is second to Bitcoin in terms of unique addresses. Ycharts estimates put the number of unique addresses on the Ethereum network to around 239.62 million. However, on-chain transaction data shows that if youve just created a new Ethereum wallet, chances are you wont be using it for long. 

According to crypto data analyst Jack Gorman, over 70% of new Ethereum wallets are used for less than 30 days before the owners stop transacting completely. While taking to a customized graph on Dune Analytics, a blockchain ecosystem analytics platform, the data analyst noted the rate of creation and abandonment of new Ethereum addresses.

The data show that Ethereum has one of the highest rates of new addresses, with 2 million new wallets per month. In the past year alone, more than 26.69 million wallets were created. However, most new addresses display minimal activity, with 66% only active for one day and 95.5% being active for less than ten days. For instance, in May 2023, 2.41 million addresses were created, with only 6.91% making transactions after 30 days. 

Overall, monthly active addresses total around 4.5 million to 7 million. This means that most wallets dont last long, and only 1.9 million are active for more than 10 days. Fewer addresses are used frequently and long-term, with only 400,000 addresses completing more than 100 transactions in the past year.

Why Are There So ETH Addresses?

Ethereum has had one of the most impressive adoption rates in recent years. The creation of new addresses provides valuable insights into improving adoption and longevity, and the creation and abandonment of addresses can be traced to airdrop hunters. Airdrop hunters create multiple addresses with the sole aim of farming ERC-20 tokens from airdrops. 

While the retention rate of new wallets is really low, Ethereum is blessed with various holders, including smart contract addresses and centralized exchange...

BTC price action is slower than ever this weekend, but Bitcoin market participants are keenly waiting for a monthly MACD cross to confirm.

Python libraries that can interpret and explain machine learning models provide valuable insights into their predictions and ensure transparency in AI applications.

Shiba Inu, one of the well-known alternative coins on the cryptocurrency market, has seen its price rise dramatically over the past week. This increase in value can be primarily attributable to whale activities, which have significantly improved the performance of the meme coin.

Shiba Inu has distinguished itself among the many alternative cryptocurrencies with a fantastic price increase. Shiba Inu fans and investors have been closely keeping tabs on the markets developments and have seen a rapid rise in the assets value.

Related Reading: Dogecoin Leaps 13% Following Elon Musks Cryptic Tweet Details

Large holders have amassed enormous amounts of SHIB, as evidenced by on-chain data from the market intelligence platform Santiment. Since the beginning of June, addresses holding 10 million to 100 billion SHIB tokens (Shina Inu whales) have purchased a total of 1.11 trillion SHIB.

Whales Scoop Big Amounts Of SHIB

Whale activity refers to the involvement of large investors who hold large amounts of SHIB. Their actions, such as buying and trading the coin, contribute to the price hike and positive market sentiment surrounding the meme coin.

Additionally, Santiment data revealed that over the past two to three months, huge Shina Inu wallets belonging to the shark and dolphin categories have purchased SHIB valued at more than $9 million.

As of Friday, these significant investors held $32.49 trillion worth of SHIB securities. The group owns SHIB, worth about $266 million in total.

This increase in whale activity occurs before the launch of the layer-2 solution Shibarium, which is a significant event for the Shiba Inu ecosystem.

Shibariums launch has been anticipated by cryptocurrency fans, who observed a noticeable increase in buying activity in recent days. Investors...

Blockchain technology is continually reshaping the financial industry, offering promising transformations in transaction processing. Its potential is immense, as outlined in a recent report by digital payment network Ripple in collaboration with the United States Faster Payments Council (FPC).

The report presents a robust case for blockchains role in expediting payment systems and the ensuing cost savings. But is the financial sector ready to embrace this emerging technology on a large scale?

Financial Institutions To Embrace Faster Payment Systems With Blockchain

The survey, which received inputs from 300 finance professionals spanning 45 countries, sheds light on the growing consensus about the advantages of blockchain. It illustrates a palpable shift in the perception of this technology across sectors including fintech, banking, retail, consumer technology, and media.

Results show that global payments leaders are dissatisfied with legacy rails for cross-border payments.

Learn why 97% believe #blockchain and #crypto will transform the way money moves in our latest whitepaper with @Faster_Payments. https://t.co/qacuAAzZrR pic.twitter.com/ForjM05Wbb

Ripple (@Ripple) July 28, 2023

The majority of the surveyed professionals, comprising analysts, directors, and CEOs, strongly assert the potential of blockchain. Approximately 97% are confident that blockchain technology will be instrumental in expediting payment processes over the upcoming three years

This widely-held conviction underscores the positive outlook toward blockchain, indicating a readiness to welcome its disruptive capabilities.

A Catalyst For Cost-Efficiency In Cross-Border Transactions?

Furthermore, the report highlights the cost-saving potential of cryptocurrencies. More than half of the respondents agreed that cryptocurrencies could significantly reduce payment costs, both domestically and internationally....

Maker (MKR), one of the prominent players in the decentralized finance (DeFi) space, has experienced a remarkable 11% price surge in the past seven days. Despite a slight drop in the last hour, the tokens performance remains impressive. 

Maker (MKR) Bullish Price Sentiment

Makers recent price performance has been noteworthy, with a solid 11% increase over the past week. The token also recorded a 4.21% price increase in the last 24 hours, indicating strong momentum in the short term. However, a minor correction of 0.81% in the past hour highlights the markets volatility.

Currently trading at $1,220.43 per MKR, the token remains 80.75% below its all-time high of $6,339.02. While the recent price surge is encouraging, it is essential to consider the historical context and the factors influencing the crypto markets dynamics.

The MakerDAO community recently voted in favor of a temporary increase to the interest rate paid to holders of the protocols decentralized stablecoin, DAI. This proposal introduced the Enhanced Dai Savings Rate (EDSR), a mechanism to temporarily boost the Dai Savings Rate (DSR) to users during periods of low utilization.

Proposed by Maker founder Rune Christensen, the EDSR could increase the effective DSR to 8% when the utilization ranges from 0% to 20%. The mechanism is designed to decrease the DSR as utilization increases gradually.

Related Reading: Shiba Inu Reclaims 14th Spot In Market After 5% Jump

This isnt the first time Maker has adjusted the DSR. In the past few months, the protocol has raised the DSR thrice: first to 1% in November, then to 3.3% in May, and finally incorporating a marginal increase to 3.49% in June. The latest EDSR proposal aims to incentivize DAI holders and stimulate demand for the stablecoin.

Stimulating Demand For DAI

Despite the recent increase in the DSR, data from...

This is an opinion editorial by Sydney Bright, a software developer with a masters degree in biomedical engineering.

Bitcoin is not merely a medium of exchange. That is not to say that bitcoin is not money. Bitcoin is undoubtedly money. However, to think it is merely a technological innovation that transcends the archaic systems of the Federal Reserve, legacy banking, Visa, Mastercard and so on would be a profoundly-erroneous error.

Bitcoin solves a problem that, ironically, was both the catalyst for the Neolithic era and something that has plagued humanity for thousands of years: the use of our abstract minds to rely on symbolism and create greater cooperation among our species. Money is but one result of the abstract-thinking mind of the human being, which similarly gave rise to complex language and the use of symbols and storytelling. This Catch-22 is evident through a synthesis of the power projection theory outlined in Softwar by Jason Lowry, a member of the U.S. Space Force, and my own calm pond theory (described here). In short, these two theories highlight how the massive developmental breakthroughs achieved by our abstract minds come with their drawbacks, which have been unresolvable until the invention of Bitcoin.

The Calm Pond Theory

My calm pond theory suggests that a mind characterized by mindfulness optimizes the brains ability to regulate and maintain health within the body and grants an individual a more accurate interpretation of reality itself. Consider that the brain receives a deluge of neurotransmitters to comprehend the state of the body and the external world. To properly understand the incoming information and react accordingly, it constructs a model, constantly testing, refining and rectifying it to enhance the model's accuracy, a process we experience as consciousness.

Now, envision the brain as a pond, where raindrops represent neurotransmitters, gently hitting the pond and forming ripples that serve as the key to interpreting information. When the pond is calm, these ripples are distinct and easily discernible, enabling accurate interpretation. However, the demand of our modern world imposes endless mental rumination, causing a rainstorm of neuronal activity. The numerous ripples formed in a rainstorm collide and interfere with one another, making it significantly more challenging for the brain to construct an accurate model of the world, since understanding individual ripples becomes nearly impossible.

It is likely that a state of mind akin to a calm pond is what was typical for more ancient human beings, highlighting a tremendous healt...

This time around, Elon Musk, the CEO of SpaceX and the worlds largest manufacturer of electric vehicles, Tesla, is creating a flurry of excitement around cryptocurrencies, maybe with a particular focus on Dogecoin, the well-known parody cryptocurrency.

The crypto community has taken note of Musks recent acts since they continue to demonstrate his influence in altering the market dynamics of digital currency.

The billionaire Musk, who is also the owner of the X app (formerly known as Twitter), posted on Sunday that something special is coming soon.

Elon Musk Tweet Does It Again

This tweet received a lot of positive feedback from the cryptocurrency community, especially from accounts with a Dogecoin theme.

Something special coming soon

Elon Musk (@elonmusk) July 29, 2023

Based on Musks repeated references to this development in the past, many people, including the influencer David Gokhstein, anticipate that X will add DOGE the largest meme coin as a payment option.

This anticipation arises from the fact that Elon Musk has previously made a number of very quiet signals that a similar action may be planned.

Dogecoin (DOGE) saw a stunning price increase on Friday, garnering a lot of attention in the cryptocurrency community. On that particular day, DOGEs price noticedably increased by over 10%, breaking past the $0.07 barrier mark.

Dogecoin Rising At $0.08

When this article was being written, DOGE was trading at $0.08, up 2.7% over the previous day. However, the meme coin really proved its worth on a weekly basis, rising in value by about 13% in response to Musks post.

Source: Coingecko

This positive momentum-driven upward rise in value led to a sizable increase in the market capitalisation of the asset. The cryptocurrencys market cap incre...

John Deaton believes the unequal treatment raises concerns about the regulatory bodys effectiveness and fairness, as well as the overall framework for digital assets.

The filing revealed that on Jan. 15, 2023, SBF contacted the current general counsel of FTX US, who could potentially serve as a witness in the trial.

Michael Saylor, Layah Heilpern and Girl Gone Crypto were among those in the crypto community that took an interest in what Australian actress Margot Robbie had to say about Bitcoin.

Among the 300 finance professionals surveyed across 45 countries, 97% believe that blockchain will play a crucial role in faster payment systems within the next three years.