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Blockchain

Are Ripple and Vechain becoming partners?

The cryptocurrency market has evolved significantly over the past few years. Following the initial launch of Bitcoin, the world’s first decentralized cryptocurrency, not many people believed in Blockchain or the crypto sector. However, more than 10 years on, we can all see how much the industry has grown, becoming one of the most attractive investment

The post Are Ripple and Vechain becoming partners? appeared first on Web's Most Useful Blockchain Articles.

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The cryptocurrency market has evolved
significantly over the past few years. Following the initial launch of Bitcoin,
the world’s first decentralized cryptocurrency, not many people believed in
Blockchain or the crypto sector. However, more than 10 years on, we can all see
how much the industry has grown, becoming one of the most attractive investment
opportunities globally. Bitcoin is no longer the sole major digital currency as
it is joined by hundreds of others, like XPR.

The latter is a cryptocurrency, sometimes
dubbed ‘the real cryptocurrency’, that uses the Ripple network and the system which
enables transfers of money between different currencies. After its launch, XPR
has become incredibly popular and is used by many companies and sectors. Unlike
Bitcoin, XPR’s price is more affordable while being quite stable. Because of
these characteristics, it has gained momentum among certain businesses.

XPR is heavily used in online gambling. This
sector is growing with a geometrical progression as a soaring number of people
prefer staying at home and playing various games in a more comfortable and
homely environment. Representatives of a leading casino Spinia.com
say that XPR transactions are on a steep increase all around the world. This
gambling operator is present in numerous countries globally and is good
evidence of how much XPR has achieved by being useful to many sectors,
including online gambling.

The exciting rumor has been
spread through Twitter

At the beginning of July, a Twitter user ‘Crypto Eri’ announced in a Tweet
about the exciting news. Yet, before getting any further, it is with nothing
that none of these have been confirmed by official sources or either side of
the story. However, the Japanese media source and the user state the following:

“SBI Holdings is getting into the #VeChain
space. Traceability as a service. Building a supply chain platform for
agricultural products utilizing blockchain/distributed ledger technology.”

The article is in Japanese and represents a
local source, considering that SBI Holdings is a Japanese bank. According to
the article, SBI Holdings in cooperation with CTIA Co, Ltd will build a
blockchain solution. CTIA Co, Ltd handles blockchain businesses and entities.
The process will also involve Hakusho Market Co, Ltd, a major Japanese rice
exporter. The latter is a major industry in Japan, generating billions of
dollars in revenues annually.

“Once the proof experiment is complete, SBI
Holdings and CTIA will build a supply chain platform for rice export, and
Hakusho Market will export and sell rice to North America, Hong Kong, and
Singapore”

Following these statements, the rumor was born
that Vechain and Ripple are planning on entering the exciting and highly
anticipated partnership with each other. Besides the article and the Twitter
post, one of the major reasons for the rumor was a Tweet like by CREAM
(CREAMethod on Twitter). The Twitter user Crypto_ED_NL replied to the original
tweet by Crypto Eri:

“@CREAMethod I noticed you liked this tweet. I
don’t see any mention of $VET in the press releases….

Should we consider your like as a
“yes” because of NDA?”

What is crucial in this rumor is what SBI
Holdings holds a 10% stake in Ripple. The Japanese-based major bank is
headquartered in Tokyo and has a significant revenue along with a good
reputation. It has been working on promoting Ripple and its products in Japan,
as well as in other countries in the region. More specifically, SBI Holdings
has initiated a number of important projects, supporting and advertising XPR
adoption in the country. Moreover, SBI Holdings recently announced that they
will be launching the first Japanese crypto fund of which 50% will be XPR.

VeChain CEO Sunny Lu bolsters the
rumors in an interview

Besides the Tweet and the rumors, the
Vechain’s CEO, Sunny Lu has also made some interesting statements about the
possible partnership. Recently, approximately the same period the rumor arose
for the first time, he went on an online show on YouTube called “Digital
Asset Investor”.
There, in an interview, he stated that Ripple and VeChain
could become good partners.

“Well, let’s make it Ripple, XRP. Well, I
mean, we could be good partners in the future I would say because we are
focused on different things. We are focused on business activities,
non-financial applications, while XRP is focused on payment solutions which
could be a good combination.”

This rumor could have been missed by many
people within the crypto community. Even in this small community, this news was
not easy to acknowledge. There are many actors and stakeholders in this story,
making it extremely difficult to understand what truly is happening. However,
if this turns out to be true, we will witness unprecedented partnership,
featuring some of the brightest businesses in the sector.

Source: https://railsonwave.it/are-ripple-and-vechain-becoming-partners/

Blockchain

Facebook’s Diem Unveils Its Latest Stablecoin Plans and Strategic Move to the United States

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Diem, the cryptocurrency project headed by Facebook originally known as Libra, recently announced its plans to launch a stablecoin with its focus scaled back to the United States. 

The company stated earlier this year that it would be relocating its primary operations from Switzerland back to the United States, and would withdraw its payment system license application from Switzerland’s financial regulators. “Diem is simplifying its plans for [its] USD stablecoin issuance by shifting its main operations from Switzerland to the United States,” they said.

This decision was later confirmed by the Swiss Financial Market Supervisory Authority. 

Stablecoins are digital currencies pegged to a fiat currency, with Tether (USDT) and USD Coin (USDC) being two prominent examples. California-based Silvergate Bank will become the sole issuer of the Diem USD, while also managing its dollar reserves. 

Diem to Launch Wholly New Subsidiary Diem Networks US Alongside Crypto Bank Silvergate

In a strategic partnership, the two firms have created a new subsidiary called Diem Networks US — which will run the Diem Payment Network (DPN) to facilitate transactions of Diem stablecoins within its network. 

“Silvergate is a leader in financial innovation and an ideal partner for Diem as we move forward with a blockchain-based payment system that protects consumers and enhances the integrity of the financial system,” said Stuart Levey, chief executive officer of Diem.

“We are committed to a payment system that is safe for consumers and businesses, makes payments faster and cheaper, and takes advantage of blockchain technology to bring the benefits of the financial system to more people around the world. We look forward to working with Silvergate to realize this shared vision.” 

Diem’s strategic shift to the United States comes at a time of a rapidly evolving regulatory environment for cryptocurrencies and blockchain technology. 

Some municipalities and states such as Miami and Wisconsin have embraced the recent innovation, whereas regulators such as the newly-appointed SEC Chair Gary Gensler have critiqued the autonomy of the crypto industry. 

With crypto ETFs and related financial products under intense scrutiny by the SEC, it remains to be seen whether Diem’s decision to relocate back to the United States will bear any fruit.

Featured image from ShutterStock

Coinsmart. Beste Bitcoin-Börse in Europa
Source: https://bitcoinist.com/facebooks-diem-unveils-its-latest-stablecoin-plans-and-strategic-move-to-the-united-states/?utm_source=rss&utm_medium=rss&utm_campaign=facebooks-diem-unveils-its-latest-stablecoin-plans-and-strategic-move-to-the-united-states

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Blockchain

Crypto Research Firm Delphi Digital Launches Latest NFT Fund

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Delphi Digital, a New York-based crypto research and venture firm, recently launched its latest on-chain fund to invest in non-fungible token (NFT) projects. 

The fund, referred to as Delphi InfiNFT, is based on decentralized finance (DeFi) investing protocol Syndicate. “It will enable automation of deposits, cap table, distributions, fund management, reporting, etc.” said Anil Lulla, co-founder of Delphi Digital. 

“NFT’s are changing digital ownership rights, as well as how creators are interacting with their communities. Along with the growth of the NFT space, there is supporting infrastructure that needs to be built alongside it. The goal of this fund is to find the protocols that are moving the NFT space forward and building the infrastructure that is needed.”

Delphi Digital has partnered with NFT investor Gmoney for its NFT fund, who famously purchased a CryptoPunk NFT for a record price of 140 Ethereum worth approximately $180,000 at the time. Gmoney and Delphi will co-manage the fund together. 

According to their website, the fund will look to create an investment portfolio consisting of 20 protocols through InfiNFT. “We plan to deploy at least 80% of the fund’s capital in the first 6 – 9 months as we find protocols that fit with our thesis,” the team report read. 

“We will identify and select leading NFT networks through our networks and communities. We’ll be working directly with the teams we invest in to help them become a core piece of the NFT ecosystem long-term.

Delphi’s InfiNFT is backed by IDEO CoLab Ventures, Divergence Ventures, Axie Infinity, Compound Finance, and Fractional, among others. 

The recent steep Ethereum selloff led to massive losses in market cap across the NFT markets. According to NFT Valuations, Cryptopunks’ total market valuation dropped $600 million this past week — representing over a 66% loss. In spite of the recent volatility, investors like Delphi Digital appear to be confident in the long-term prospects of the non-fungible token space.

Ethereum (ETH/USD), alongside the broader crypto market, suffered week-long losses following the news of Tesla cutting its Bitcoin payments. At press time, Ethereum is down 9.3% in the past week. Source: Tradingview.com
Featured image from UnSplash 

Coinsmart. Beste Bitcoin-Börse in Europa
Source: https://bitcoinist.com/crypto-research-firm-delphi-digital-launches-latest-nft-fund/?utm_source=rss&utm_medium=rss&utm_campaign=crypto-research-firm-delphi-digital-launches-latest-nft-fund

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Blockchain

Cardano, Uniswap, Chainlink Price Analysis: 16 May

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Cardano introduced some target levels at $2.53 and $2.69 via the Fibonacci Extension tool. Uniswap needed to garner bullish strength for a break above $43-$45 resistance. Lastly, a descending triangle breakdown on Chainlink could see a 7.5% retracement towards its 50-SMA

Cardano [ADA]

Source: ADA/USD, TradingView

If buyers were looking to make profits on large-cap alts during the recent turbulent broader market, Cardano was a must inclusion in every portfolio. Weekly gains of 36% were the highest among the top 10 coins by market cap and underlined ADA’s independence from broader market sentiment. Fibonacci Extension tool was used to identify potential target points for the current rally. The 372.2% and $361.8% extension levels stood at  $2.53 and $2.69, respectively. With buying pressure still on the rise according to Awesome Oscillator, ADA made a strong case for an extended rally.

In case of pullbacks, these extension levels can also act as support lines. RSI’s overbought territory indicated the need for stabilization and a dip in volumes could mean some southbound action. Nevertheless, key factors could allow ADA to sustain higher levels moving forward.

Uniswap [UNI]

Source: UNI/USD, TradingView

A descending triangle breakdown showed losses of 8% from the bottom trendline, but buyers stepped in at $35.6-support. In fact, this support has been under the spotlight during recent dips and only reinforced the area as a buffer against extended losses. On the 4-hour timeframe, OBV’s sharp fall was an interesting development which explained why bulls have failed to topple $43-$45 resistance. Considering the dearth of constant buying pressure, Uniswap could trade between $44.4 and $35.6 over the coming days.

A breakout above $44.4 on high volumes would result in a bullish trend but the market was not yet ready for such a swing. Awesome Oscillator’s wavy trajectory suggested that neither side had been fully able to assert dominance.

Chainlink [LINK]

Source: LINK/USD, TradingView

While Chainlink did see losses over the last 24 hours, the bulls held on to $41.2-support – an important development. A descending triangle was prominent on the daily timeframe and a breakdown could see a sell-off between $35.7-39.1. Those hoping to trade on a breakdown can observe the 4-hour timeframe for more sensitive price action.

Awesome Oscillator registered a series of red bars as selling momentum dragged  LINK from a high of $61.9 to a low of $39.7 during the present downtrend. MACD also confirmed a bearish presence in the market. To negate LINK’s pattern, buyers would need to target a rise above $45.6-resistance.


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Coinsmart. Beste Bitcoin-Börse in Europa
Source: https://ambcrypto.com/cardano-uniswap-chainlink-price-analysis-16-may

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