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According to WhaleAlerts, an XRP whale has transferred 23.8 million tokens worth $16.1 million to the crypto exchange Bitstamp. The transfer of assets to an exchange is bearish as it opens up the possibility of being dumped. Also Read: Solana: FTX Transfers $31 million SOL To Binance, Price Dips 3% Source: Whale Alerts The whale’s transfer comes amid XRP’s latest price surge. The token is up by 9.1% in the last 24 hours and by 23.4% in the weekly charts. The asset is also up by almost 99% since January 2023. Source: CoinGecko The whale may be booking profits, given the crypto’s incredible performance this year. Moreover, the asset was deemed not a security by a U.S. court, which has significantly led to a rise in popularity. However, the whale may be anticipating a price correction and perhaps wants to sell before prices dip. Will XRP’s price fall? Source – Coinpedia A liquidation of $16 million worth of tokens could have a significant impact...

Ripple ’s Chief Technology Officer, David Schwartz, has proposed that XRP Ledger ( XRPL ) validators consider implementing an automated market maker ( AMM ) feature only if there is consensus within the community. In a recent tweet thread, Schwartz acknowledged AMM s as an intriguing aspect of decentralized finance. However, he cautioned validators against unilaterally voting to implement AMM capabilities on the XRPL . In general though, validators shouldn't vote YES individually. The community should make a decision and then validators should nearly all vote YES when they believe the community is on board and enough nodes support the change. The amendment voting process is intended to… — David "JoelKatz" Schwartz (@JoelKatz) October 6, 2023 Schwartz talks about the possibility of AMM going live Schwartz noted that if a majority of validators back the change after perceiving community consensus, AMM functionality could go live within two weeks post-voti...

Bitcoin is consolidating at the top of its range and this is inspiring traders' confidence in a variety of altcoins. United States 10-year Treasury yields soared above 4.8% on Oct. 3, their highest level since 2007. DoubleLine Capital CEO Jeffrey Gundlach said in a post on X (formerly Twitter) that the spread between the 2-year and 10-year Treasury yields has narrowed from 109 basis points a few months ago to 35 basis points. He cautioned that this “should put everyone on recession warning.” Arthur Hayes, former CEO of crypto exchange BitMEX, warned in a recent X thread that the government will have to print money to save the bond market as a faster bear steepener — a condition where long-term interest rates rise more quickly than short-term rates — will cause firms to collapse. Some investors believe that this could trigger a cryptocurrency bull market. Daily cryptocurrency market performance. Source: Coin360 It also looks like the institutional investors have started to warm up ...

A new report from cryptocurrency market data provider Kaiko reveals that Ripple (XRP) has struggled to maintain its gains following a July court victory declaring it not a security. According to Kaiko’s Analysis , Ripple ’s XRP rallied in July after the favorable ruling, but its price plunged over 25% in August as traders took profits. Despite underperforming last month, XRP saw far higher trading volumes than other major altcoins. Also read: Crypto Casino Stake․com Reportedly Hacked For $41.3 Million XRP fails to sustain momentum following positive ruling Per the report, XRP’s $462 million average daily volume in August was four times greater than that of SOL and BNB, the next most traded tokens. Kaiko attributes this disparity to heavy selling pressure on exchanges like Upbit and OKX, alongside buying demand concentrating on U.S. exchange Coinbase. Kaiko also notes that XRP’s average trade size topped all 10 top altcoins on Coinbase in...

Solana , XRP, and Stellar -based crypto investment products have seen a rise in Assets Under Management [AUM] and a spike in activity. On a monthly basis, XLM products surged by 62.7% to $17.3 million. The rise came on the back of a pump registered by Grayscale’s XLM product. XRP and SOL products recorded 33.2% and 55.7% increases in AUM. The figures currently stand at $65.7 million and $87.8 million respectively. Source: CCData Also Read: $7.4 Million Asset Managing Stellar Lumens Fund Shares Pump 430% Investors pick ETCs over ETFs Over the past few weeks, a flurry of ETF-related developments has taken place. Specifically, asset managers from around the world, right from the U.S. to Europe and Australia, filled out applications and launched their products. However, in July, Exchange Traded Commodities [ ETCs ] registered the highest increase in AUM. They recorded a 31.4% rise to $2.67 billion. In that process, their market share rose from 6.11% to 7.91% in a month. ETCs were fo...

Will SEC’s Appeal Impact XRP? With the judge ruling that the programmatic sale of XRP tokens via exchanges does not qualify them as securities, the question now arises as to what would be the legal standing if the SEC does appeal against the ruling. Attorney John Deaton, who represents over 75,000 XRP token holders, explained the ifs and buts of how the Summary Judgment would come into force. advertisement Also Read: Bitcoin Price: Don’t Miss These Key Crypto Market Movers This Week On Friday, the US SEC mentioned in its filing in the Terraform Labs CEO Do Kwon’s case that it intends to seek a review of the decision in the Ripple lawsuit. This came after Kwon showed intent to use the XRP lawsuit verdict as a precedent for digital assets not being treated as securities. US SEC Appeal Not A Setback Amid speculation that a possible appeal by the US SEC would be a setback for the crypto market, Attorney Deaton clarified that even if the ag...

The weakness in the U.S. Dollar Index bodes well for Bitcoin and altcoins in the near term. Bitcoin has been struggling to rise and sustain above the $31,000 level for the past few days, but Standard Chartered has painted a bullish picture for this year and the next. In a report, the bank said that Bitcoin (BTC) could reach $50,000 this year and stretch the rally to $120,000 by the end of next year. Large investors seem to be taking a bullish stance and are making the most of the stagnant Bitcoin prices. Behavioral analytics platform Santiment shows that sharks and whales, entities holding between 10 and 10,000 Bitcoin, have increased their hoarding by 71,000 Bitcoin since mid-June. Daily cryptocurrency market performance. Source: Coin360 While the long term looks bullish, macroeconomic indicators hold the key in the short term. The United States equities market is likely to be influenced by second-quarter earnings and the inflation data due to be released on July 12. That is likely ...

The HKVAC index , unveiled by the Hong Kong Virtual Assets Consortium (HKVAC), adds XRP, SHIB and ADA to its list of recognized cryptocurrencies. This newly introduced index , which assesses 30 prominent digital assets, places significant emphasis on market capitalization as the primary criterion for evaluation. Top 30 on the index The Hong Kong Virtual Assets Consortium (HKVAC) introduced the index with the aim to provide investors and regulators with a dependable benchmark to assess the performance and risks associated with virtual assets. JUST IN: $SHIB & $XRP have been recognized in Hong Kong’s HKVAC Index! — Shiba Archives (@ShibaArchives) June 28, 2023 HKVAC’s official website reveals two versions of the index. The first version assigns weights to crypto assets based on their market capitalization, while the second version incorporates risk ratings into the weighting methodology. These variations offer different perspectives on the composition and evaluati...

“Huge DJs” no longer appear at crypto events, instead, attendees are seeing more “well thought out, intelligent questions” being asked. The extended crypto winter has pushed crypto event organizers to tone down on the lavishness, allowing attendees to focus on asking more “intelligent questions” about regulation and tax. Crypto conferences attract all sorts from the crypto space, from founders and high-level executives to crypto influencers and everyday users. Tiffany Fong, a crypto vlogger who gained fame interviewing former FTX CEO Sam Bankman-Fried following the collapse of the exchange, is attending crypto conferences for the first time this year. Speaking to Cointelegraph, Fong — who attended both Bitcoin Miami 2023 and NFT NYC 2023 — said she “can’t speak to how conferences used to be in the bull market s,” but has been told by other attendees that it is lighter on the entertainment side this year. “People have named dropped huge DJs that have performed in past conferences durin...

Also Read: Is Settlement Still In Scenario As Summary Judgment Closes In? advertisement US SEC Fighting With Wrong Claims? In a recent Op-ed published on Bloomberg law, Attorney John Deaton slammed U.S SEC Chair, Gary Gensler over his approach toward crypto with the Howey Test. He mentioned that back in 1946, the U.S. Supreme Court issued a vital decision in SEC Vs Howey. The court laid out a specific definition of what constitutes a security. The justices at that time wouldn’t have guessed how complex digital commerce be ahead, he added. Meanwhile, the SEC Chair holds his own idea of how cryptocurrency should be regulated today and it is taking it into a dangerous corner in the court. Read More XRP News Here… As per the Howey Test, a transaction is a security if it is an investment of money, in a common enterprise, with a reasonable expectation of profit derived from the efforts of others. Trending Stories ...