Connect with us
[crypto-donation-box]

Uncategorized

5 Ways the XRP Price Can Reach $2 – Is XRP a Buy Today?

Avatar

Published

on

Crypto market valuations have been hammered lately, leading many to ask whether the bullish trend may have ended.

However, while Bitcoin struggles to find support in the mid-$30ks, some other top tokens, although not back at recent highs, have nevertheless been making significant gains – XRP among them.

As the crypto market tentatively starts to recover some of its lost glory after $1 trillion worth of cryptocurrencies was wiped off the market in Mid-March, certain coins are showing resilience.

Ripple’s XRP is one of the tokens that has been recovering most impressively. According to market chatter, the token may even reach $2 in the near term for the following reasons:

1) Ripple’s Recent Win Against SEC

Ripple has been locked in combat with the SEC in a lawsuit that started in December 2020. The SEC filed a lawsuit against Ripple, stating that the firm was obtaining money from investors through an unregistered securities offerings. The lawsuit negatively impacted the XRP price.

However, since the lawsuit began, Ripple has managed to win on several fronts, such as a discovery dispute win against the Securities and Exchange Commission in April, which pushed Ripple’s price past $1.

Additionally, Ripple recently won on another dispute with the SEC when the judge ruled against the regulator obtaining access to Ripple’s legal communications. This win has tilted the observers towards the belief that the case will end with Ripple winning – such an outcome could push the XRP price beyond $2.

2) Ripple’s Plans to go Public

Ripple is also allegedly making plans to become a public company. The CEO of Ripple, Brad Garlinghouse, announced that the likelihood of Ripple going public was high and would possibly happen sometime after the case with the SEC is resolved.

If Ripple were to go public, the price of XRP will go up and possibly reach $2 because it will boost investor confidence in Ripple and consequently in XRP.

3) XRP Better regulations

US financial market watchdogs are looking at ways they can regulate the crypto sector. While this may be hurting the crypto market now, some crypto community members believe that the regulations could benefit cryptocurrencies in the long run as it would remove uncertainty and provide clear on- and 0ff-ramps for institutions.

Brad Garlinghouse recently spoke about regulations in an interview with CNBC’s Squawk Box, where he stated the US needed to clarify crypto regulations. If this happens, the value of XRP and other currencies will shoot up past $2.

4) Unique market position

Some market analysts also state that Ripple will succeed in the future because of its unique market position. Ripple’s ecosystem does not revolve primarily around decentralized finance apps aimed at individuals but is instead used by financial firms worldwide.

Against the background of a highly volatile cryptocurrency sector, Ripple’s more established business to business use cases XRP may stand it good stead to get through future turmoil. As such, the price of its XRP token may shoot up even when the rest of the crypto market remains bearish.

5) XRP Market Analysis

Market predictions by analysts and crypto-tracking firms also show that XRP may hit $2 before the end of 2021.

Digital Coin, a cryptocurrency price forecast website, showed the possible price movement of XRP in 2023, which indicates the token will reach $2.62. If this happens, it will be a great stride for the virtual currency.

XRP Chart
Credit: Digital Coin

Looking to buy or trade Ripple (XRP) now? Invest at eToro!

75% of retail investor accounts lose money when trading CFDs with this provider

Source: https://insidebitcoins.com/news/5-ways-the-xrp-price-can-reach-2-is-xrp-a-buy-today

Uncategorized

SEC Puts $7.6 Million Fine on Crypto Invention Database

Avatar

Published

on

By

The information on or accessed through this website is obtained from independent sources we believe to be accurate and reliable, but Decentral Media, Inc. makes no representation or warranty as to the timeliness, completeness, or accuracy of any information on or accessed through this website. Decentral Media, Inc. is not an investment advisor. We do not give personalized investment advice or other financial advice. The information on this website is subject to change without notice. Some or all of the information on this website may become outdated, or it may be or become incomplete or inaccurate. We may, but are not obligated to, update any outdated, incomplete, or inaccurate information.

You should never make an investment decision on an ICO, IEO, or other investment based on the information on this website, and you should never interpret or otherwise rely on any of the information on this website as investment advice. We strongly recommend that you consult a licensed investment advisor or other qualified financial professional if you are seeking investment advice on an ICO, IEO, or other investment. We do not accept compensation in any form for analyzing or reporting on any ICO, IEO, cryptocurrency, currency, tokenized sales, securities, or commodities.

See full terms and conditions.

Source: https://cryptobriefing.com/sec-puts-7-6-million-fine-on-crypto-invention-database/

Continue Reading

Uncategorized

How Archer Swap Has Helped End Ethereum’s Bidding War

Avatar

Published

on

By

Most DeFi users have heard of Ethereum’s high congestion issues, but few are aware of the controlling forces operating behind the scenes, and how badly they can be impacted by this single problem. When traders send a regular transaction via the Ethereum network, it is susceptible to attacks from bots or front-running software run by entities seeking to profit from trader activity.

Ethereum’s ecosystem is perhaps amongst the fastest growing in the crypto space. Thus, there are already many solutions that tackle this issue and operate for the benefit of the users and decentralized exchange (DEX) traders. Most of them have gone under the radar.

Archer Swap is part of the Archer DAO, a project with features designed to mitigate the risks associated with sending transactions on Ethereum. It protects users from Miner Extractable Value (MEV) strategies, sandwich attacks, and front-running bots while maintaining a connection with Uniswap and SushiSwap, two of the most popular DEXs on Ethereum.

In this sense, Archer Swap can be described as a DEX extension that enhances the trader experience on these dApps. This protocol combines two powerful sets of features that give traders improved operations on Ethereum – protecting them and making trades more cost-efficient.

The first set of benefits are called Archer MEV Shield. Besides protecting transactions from bot attacks, it allows users to eliminate failed transaction fees, a recurring problem on Ethereum. Traders can also cancel transactions at no additional cost.

The second feature is called Archer Trader Extractable Value (TEV), a proprietary and innovative concept introduced by Archer Swap. Operating within the Archer Relay, Archer TEV uses automated rebalancing transactions with bots to sync market prices when big market moves occur.

After a trade or a big swap, there is usually an arbitrage opportunity in a market. Archer TEV uses these opportunities to capture the value and redistribute it to Archer Swap users. In essence, Archer TEV takes revenue generated by Archer Swap and gives it back to one of the protocol’s core components, the traders.

Archer Swap Launches Campaign To Reward Traders

Following a community vote, Archer DAO recently launched a 6-week campaign to buy back and distribute its native token ARCH. In this way, the protocol can reward early adopters. The tokens will be acquired with the revenue generated by Archer TEV.

The protocol won’t have to touch its treasury reserves to attract new users to the platform. The protocol and the users will benefit – as more users trade on Archer Swap, the campaign will have more resources to acquire and distribute ARCH. Therefore, the token will most likely see an increase in buying pressure during the coming weeks, and the platform will see a surge in the number of users.

Archer DAO will distribute rewards every Friday from June 11th to July 16th, 2021. The platform will calculate rewards for each user based on their transacted volume for each week. The rewards will be delivered automatically and with basically 0 risk for the users, all they need to do is trade.

Archer Swap has had famous trades. In May, during the high of the dog meme coins, the inventor of Ethereum, Vitalik Buterin, used Archer Swap to dump his supply of Shiba Inu (SHIB), AKITA, MIRI, ELON, and others into the market.

The dump served a good cause, as Vitalik used this money to send over $1 billion to different charity organizations. The most notable is the Covid-19 relief campaign for India started by Polygon’s co-founder, Sandeep Nailwal. This trade could be among the most famous in 2021 and was enabled by a protocol whose main objective is to shield its users and give them back the power to operate safely within the Ethereum dark forest.

Source: https://bitcoinist.com/how-archer-swap-has-helped-end-ethereums-bidding-war/?utm_source=rss&utm_medium=rss&utm_campaign=how-archer-swap-has-helped-end-ethereums-bidding-war

Continue Reading

Uncategorized

Crypto Crash Trends On Twitter As Bitcoin Falls Below $30,000

Avatar

Published

on

By

Twitter has gone into a frenzy after bitcoin fell below $30,000 this morning. The hashtag #cryptocrash is currently trending on the platform. This is after the coin broke the $30,000 stronghold and fell below it. A price that has been a stronghold for bitcoin for a while now. Speculations were that as long as the asset didn’t fall below $30,000, then there would be a recovery.

Related Reading | Galaxy Digital CEO: Bitcoin Dips Should Be Bought Despite BitMEX News

Bitcoin has been in a downtrend for a couple of days now. News of mining rigs closing down in China pushing the price even further down. Falling below $30,000 means bitcoin is about to erase its gains for 2021. The coin was trading at $29,001 n December 2020. Only breaking the $30,000 barrier in 2021. Now bitcoin is trading at only 3% gains for the year 2021.

Bear Market Trends

Richard Bernstein was on Trading Nation two weeks ago to talk about the trends in bitcoin. The CEO called bitcoin a bubble. He pointed out that bitcoin was currently in a bull market. Noting that people were leaving the markets that were actually in a bull market behind.

Chart showing bitcoin crash below $30,000

Bitcoin crashes below $30,000 before recovering back up to $32,000 | Source: BTCUSD on TradingView.com

Bitcoin has been struggling for the past two months. This was after the coin finally hit the all-time high of $64k in April. There was a lot of speculation that the coin was headed for $100k. But it seems the asset had other plans.

Analysts have compared this to the 2018 crash. When bitcoin hit a new ATH of nearly $20k and then proceeded to lose 80% of its value. At one point trading at a little over $3k.

There Is Still Hope For Bitcoin

Mike Novogratz was on CNBC earlier to talk about the price drop below $30,000. Novogratz said that while he was less happy than he was at $60,000, he still hopeful about the coin.

Novogratz further explained that calling a bottom on the crash is hard to do. This he attributed to the large liquidations currently taking place across a number of assets.

With regards to the $30,000 price level, Novogratz said, “We’ll see if it holds on the day. We might plunge below it for a while and close above it.”

Related Reading | Over 3 Metric Tons Of Bitcoin Mining Rigs Airlifted Out Of China

The co-founder of Galaxy Digital noted that he wasn’t worried about the price crash. Explaining that he does not expect another crash of the 2017 magnitude to occur again. This he chalked up to the maturity of the ecosystem. Pointing out that much more mature players are now moving into the system.

“Every single bank is working on their own crypto project, how they can get bitcoin to their wealthy clients. I think a lot of clients that didn’t buy it the first time will see this as an opportunity to buy it and get involved.

– Mike Novogratz, CEO of Galaxy Digital

Twitter users have taken to the platform to express their opinions on the current market movements. There are countless tweets asking people to not panic. That the market is going to recover. And right now, it is starting to look like they’re right as the market has gone back into the green. Bitcoin is currently back up to $32k, after a dramatic price drop below $30k.

Featured image from Forbes, chart from TradingView.com

Source: https://bitcoinist.com/crypto-crash-trends-on-twitter-as-bitcoin-falls-below-30000/?utm_source=rss&utm_medium=rss&utm_campaign=crypto-crash-trends-on-twitter-as-bitcoin-falls-below-30000

Continue Reading
Uncategorized3 days ago

Sichuan Shutdown Order Cripples Chinese Bitcoin Mining Pools

Blockchain3 days ago

Coin Cloud Set to Operate 2000 Crypto Kiosks This Year

Blockchain5 days ago

Paraguayan Official Confirms: In July We Legislate Bitcoin

Blockchain5 days ago

Global Financial Indexes Provider MSCI Plans to Launch Crypto Indexes

Blockchain5 days ago

This Bitcoin HODLer Metric Has Just Flipped Green For The First Time In 8 Months – Here’s What This Means

Blockchain5 days ago

Ethereum On-Chain-Analyse: Interesse trotz Drop groß

Blockchain5 days ago

U.K’s crypto-users are growing in number, but do they even understand the asset class?

Blockchain5 days ago

The End of NFTs? NFT Sale Transaction Volume Down 95% Since Early May

Blockchain5 days ago

WAVES Technical Analysis: Price Can Move Either Ways

Blockchain3 days ago

Tezos, Algorand, Zcash Price Analysis: 19 June

Blockchain3 days ago

What governments don’t realize is going to happen with Bitcoin

Uncategorized4 days ago

When does Naraka: Bladepoint release?

Blockchain3 days ago

Top DeepMind AI Products Revolutionizing The World

Blockchain3 days ago

Sichuan province in China asks crypto miners to shut down operations

Uncategorized5 days ago

Alstef Group launches new software suite

3 days ago

Alinity talks ASMR meta, Amouranth and indiefoxx Twitch bans

Blockchain3 days ago

Banks Afraid Of the Risks Associated With Crypto Assets Call for Regulation

Blockchain2 days ago

Legends: The premium NFT minting platform

4 days ago

Call of Duty League Stage 4 Major Standings

Uncategorized3 days ago

Crypto Analyst Predicts Bitcoin Price Will Reach ‘$150,000 by December 15th, 2021’

Trending