Blockchain
Grayscale Dissolves Its XRP Trust In Light Of SEC’s Lawsuit

ADVERTISEMENT
Grayscale dissolves its XRP Trust in light of the US SEC lawsuit against Ripple and the biggest digital currency asset manager said it will distribute the liquidated money to its shareholders so let’s read more in today’s Ripple news.
Grayscale wrote:
“In response to the SEC’s action, certain significant market participants have announced measures, including the delisting of XRP from major digital asset trading platforms, resulting in the Sponsor’s conclusion that it is likely to be increasingly difficult for U.S. investors, including the Trust, to convert XRP into U.S. dollars, and therefore continue the Trust’s operations.”
Grayscale dissolves its XRP Trust from the Grayscale Digital Large Cap Fund the previous week because of the US SEC lawsuit against Ripple. The lawsuit accused ripple and its co-founder Chris Larsen and CEO Brad Garlinghouse of raising over $1.3 billion by selling XRP as an unregistered digital securities offering. Right after the lawsuit, about 27 exchanges have dropped support for XRP and some even delisted it.

Ripple’s general counsel Stuart Alderoty said to his Twitter followers that the company will file its initial response to the SEC’s allegations in a few weeks. Garlinghouse explained that the company is looking forward to a day in court and change of leadership at the Securities and Exchange Commission:
ADVERTISEMENT
“We’re on the right side of the facts and of history, and look forward to our day in court – as well as engaging with the new SEC leadership once appointed.”
As reported recently, Grayscale finished 2020 with a huge XRP purchase and had its AUM grew by 10x in one year. The crypto fund manager made its biggest XRP purchase of more than 12 million coins. The leading digital asset manager took full advantage of the developments in the crypto space with record-breaking inflows. The company’s asset under management increased by ten times in 2020 to above $20 billion and Grayscale finished 2020 with a large XRP purchase. Founded back in 2013, the fund manager is among the biggest institutional investors to get exposed to BTC and other crypto assets without worrying about storing the assets. The company registered its best year to this date as institutions started entering the field with major purchases.
According to Grayscale’s Q1 2020 report, the asset manager ended 2019 with an AUM of about $2 billion but the rising popularity of crypto assets and the skyrocketing prices resulted in huge growth to over $20 billion in AUM.
DC Forecasts is a leader in many crypto news categories, striving for the highest journalistic standards and abiding by a strict set of editorial policies. If you are interested to offer your expertise or contribute to our news website, feel free to contact us at [email protected]
Blockchain
Kraken Daily Market Report for February 24 2021

Overview
- Total spot trading volume at $2.43 billion, up 18% from the 30-day average of $2.06 billion.
- Total futures notional at $742.6 million.
- The top five traded coins were, respectively, Bitcoin, Ethereum, Tether, Cardano, and Polkadot.
- Strong returns from Augur (+22%), Icon (+20%), Lisk (18%), and Compound (18%).
February 24, 2021 $2.43B traded across all markets today Crypto, EUR, USD, JPY, CAD, GBP, CHF, AUD |
||||
---|---|---|---|---|
XBT $50855. ↑4.0% $927.5M |
ETH $1694.5 ↑7.3% $442.0M |
USDT $1.0009 ↑0.06% $308.7M |
ADA $1.0666 ↑11% $140.5M |
DOT $36.359 ↑5.2% $112.8M |
USDC $1.0002 ↑0.01% $58.0M |
XDG $0.0552 ↑16% $46.8M |
XRP $0.4888 ↑2.7% $45.1M |
LTC $187.16 ↑5.4% $44.2M |
LINK $28.266 ↑8.8% $43.1M |
BCH $546.64 ↑5.9% $19.9M |
ATOM $20.971 ↑4.1% $17.4M |
XLM $0.4278 ↑11% $17.0M |
FLOW $22.203 ↑3.6% $14.8M |
UNI $26.741 ↑7.6% $13.7M |
GRT $1.9695 ↑16% $13.2M |
AAVE $398.38 ↑9.2% $9.83M |
ALGO $1.1312 ↑12% $9.67M |
KSM $259.95 ↑8.0% $9.22M |
XMR $218.18 ↓1.3% $9.14M |
DASH $253.84 ↑9.8% $8.88M |
EOS $4.0463 ↑5.0% $8.57M |
XTZ $3.8502 ↑8.5% $8.23M |
TRX $0.0492 ↑9.5% $4.84M |
DAI $1.0012 ↓0.01% $4.78M |
ICX $1.7515 ↑20% $4.63M |
QTUM $5.5107 ↑7.1% $4.55M |
SNX $20.534 ↑13% $4.44M |
OMG $5.0897 ↑8.7% $4.29M |
BAT $0.5229 ↑9.5% $4.29M |
SC $0.0113 ↑3.3% $3.78M |
WAVES $10.304 ↑10% $3.76M |
NANO $6.0203 ↑16% $3.59M |
YFI $36385. ↑8.8% $3.55M |
ZEC $131.65 ↑3.6% $3.33M |
FIL $37.762 ↑6.3% $3.21M |
COMP $452.55 ↑18% $2.38M |
OXT $0.5371 ↑8.4% $2.12M |
ETC $12.339 ↑8.4% $2.07M |
LSK $3.1380 ↑18% $1.93M |
KAVA $3.7965 ↑17% $1.57M |
MANA $0.2622 ↑13% $1.53M |
REP $35.637 ↑22% $1.49M |
CRV $2.2995 ↑7.7% $1.45M |
KNC $1.7123 ↑6.8% $982K |
MLN $41.951 ↑12% $834K |
PAXG $1804.9 ↓0.2% $778K |
KEEP $0.3739 ↑10% $710K |
STORJ $0.6370 ↑12% $670K |
ANT $4.7319 ↑10.0% $576K |
BAL $40.659 ↑16% $568K |
GNO $141.23 ↑11% $508K |
REPV2 $26.630 ↑8.9% $274K |
TBTC $54060. ↑9.8% $244K |
#####################. Trading Volume by Asset. ##########################################
Trading Volume by Asset
The figures below break down the trading volume of the largest, mid-size, and smallest assets. Cryptos are in purple, fiats are in blue. For each asset, the chart contains the daily trading volume in USD, and the percentage of the total trading volume. The percentages for fiats and cryptos are treated separately, so that they both add up to 100%.
Figure 1: Largest trading assets: trading volume (measured in USD) and its percentage of the total trading volume (February 24 2021)
Figure 2: Mid-size trading assets: (measured in USD) (February 24 2021)
Figure 3: Smallest trading assets: (measured in USD) (February 24 2021)
#####################. Spread %. ##########################################
Spread %
Spread percentage is the width of the bid/ask spread divided by the bid/ask midpoint. The values are generated by taking the median spread percentage over each minute, then the average of the medians over the day.
Figure 4: Average spread % by pair (February 24 2021)
.
#########. Returns and Volume ############################################
Returns and Volume
Figure 5: Returns of the four highest volume pairs (February 24 2021)
Figure 6: Volume of the major currencies and an average line that fits the data to a sinusoidal curve to show the daily volume highs and lows (February 24 2021)
###########. Daily Returns. #################################################
Daily Returns %
Figure 7: Returns over USD and XBT. Relative volume and return size is indicated by the size of the font. (February 24 2021)
###########. Disclaimer #################################################
The values generated in this report are from public market data distributed from Kraken WebSockets api. The total volumes and returns are calculated over the reporting day using UTC time.
Source: https://blog.kraken.com/post/8041/kraken-daily-market-report-for-february-24-2021/
Blockchain
India’s largest crypto exchange adopts decentralized Unstoppable Domains


India’s largest cryptocurrency exchange, Unocoin, has adopted the blockchain-based Unstoppable Domains, which simplifies crypto transactions by turning blockchain addresses into human-readable web URLs.
Announced on Wednesday, the partnership between Unocoin and Unstoppable Domains — both funded by Silicon Valley investor Tim Draper — is expected to reduce remittance costs and simplify the transaction process for the exchange’s 1.2 million users.
Unstoppable Domains turns crypto addresses into decentralized websites on the Ethereum and Zilliqa blockchains. Instead of sending coins to a 42-character blockchain address, Unstoppable Domains allows users to create simple URLs ending in “.crypto” and “.zil” extensions. Domain names need only be purchased once, and then exist forever on the blockchain without requiring any renewal or maintenance fees.
The decentralized aspect of Unstoppable Domains should be of particular interest to Indian crypto users, especially amid the furor created by the Finance Ministry’s decision to ban the use of Bitcoin (BTC) and other cryptocurrencies.
Pushback against the country’s plan to outlaw cryptocurrency has emerged on social media in the form of the #IndiaWantsBitcoin campaign. Despite regulatory uncertainty, the co-founder and CEO of Unocoin, Sathvik Vishwanath, sees the adoption of Unstoppable Domains as being in line with the maturation of the crypto industry in India. Vishwanath said:
“The cryptocurrency space is maturing. In line with the growth of the industry, Unocoin aims to offer its users the best possible experience. Integrating the .crypto domain is a significant step not only for Unocoin users, but also for additional exchanges in the country exploring simpler and more user-friendly options for their users.”
Unstoppable Domains co-founder Brad Kam referenced the reluctance of the Indian government to allow the spread of cryptocurrency within its borders:
“India’s population has been historically scorned from cryptocurrency. Unstoppable Domains is excited to deliver the seamless sending and receiving of cryptocurrency to Unocoin’s users. Our aim is to simplify cryptocurrency addresses, and establish human readable names as the domain standard across wallets and exchanges.”
On Wednesday, Reserve Bank of India Governor Shaktikanta Das reiterated the central bank’s intention to create its own centrally issued currency, the digital rupee. This follows a common trend that has emerged in recent years as national governments attempt to reign-in the spread of decentralized cryptocurrencies and replace them with digital versions of existing fiat currencies.
As reported by Cointelegraph, Unstoppable Domains was recently integrated into Cloudflare’s Distributed Web Resolver, meaning any web browser can now access the .crypto URL extensions.
A spokesperson for Unstoppable Domains confirmed to Cointelegraph that even if Unocoin were to be shut down in the near future, the addresses and URLs created through the platform would remain unaffected.
Blockchain
DEX volumes have already surpassed $120b in 2021

Ethereum-powered decentralized exchanges, or DEXes, continue to surge despite high transaction fees — with DEXes processing more than $120 billion in 2021 so far.
According to Ethereum market analytics platform Dune Analytics, combined DEX volumes posted a new record of $63 billion in January. February’s volume currently sits at $59 billion and is on track to hit $67 billion at the month’s end.
DEXes have already processed more volume in the first two months of 2021 than during all previous years combined.

The Ethereum-powered DEX sector is still dominated by Uniswap and Sushiswap, who account for 65% of February’s trade combined. Uniswap currently represents more than double Sushi’s volume, controlling almost 50% of DEX market share.
However, looking at the weekly number of active traders on each platform shows that Uniswap represents more than three-quarters of Ethereum DEX users. Over the last seven days, nearly 142,000 unique wallets traded on Uniswap, followed by decentralized exchange aggregator 1inch with roughly 18,450 traders, and SushiSwap with 8,911.
However, not all DEX trading activity is occurring on Etheruem, with Binance Chain’s Pancake Swap surging to report a daily trading volume behind of more than $1.1 billion.
Despite some users migrating away from Ethereum-based DEXes, confidence in the sector as a whole is at an all-time high, with the total value locked in these exchanges sitting above $40 billion for the first time during recent weeks.
Source: https://cointelegraph.com/news/dex-volumes-have-already-surpassed-120b-in-2021
-
Blockchain1 week ago
Thai SEC schedules hearings to address crypto investor qualifications
-
Blockchain1 week ago
Motley Fool adding $5M in Bitcoin to its ‘10X portfolio’ — Has a $500K price target
-
Blockchain3 days ago
Ankr adds Eth2 futures (fETH) to its staking system
-
Blockchain7 days ago
The Graph adds support for Polkadot, NEAR, Solana and Celo
-
Blockchain1 week ago
International payment giant Visa considers adding crypto to its network.
-
Blockchain1 week ago
Corporate FOMO
-
Blockchain1 week ago
Ripple’s XRP Has Shown A Great Deal Of Resilience In The Midst Of Legal Troubles
-
Blockchain1 week ago
Nigerians bounce back with a defiant response to the government’s Bitcoin ban