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XRP Lawsuit: Blockchain.com Becomes Latest Platform to Delist XRP

Blockchain.com, a popular blockchain explorer as well as a crypto wallet has joined the growing list of platforms delisting XRP trading services in the wake of the SEC lawsuit against Ripple and two of its executives. The blockchain explorer cum crypto wallet service provider notified its customers about halting XRP trading services via its official

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Blockchain.com, a popular blockchain explorer as well as a crypto wallet has joined the growing list of platforms delisting XRP trading services in the wake of the SEC lawsuit against Ripple and two of its executives. The blockchain explorer cum crypto wallet service provider notified its customers about halting XRP trading services via its official blog.

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The firm in its official release said,

Due to the SEC’s recent action against Ripple Labs, Blockchain.com will halt XRP trading beginning Thursday, January 14th at 11:59pm GMT. For all customers who have XRP balances, you will continue to have access to your XRP to send after we halt trading, but we will no longer support receiving more XRP in the Exchange.

Ripple’s Series C Lead Investor Sues The Company

The SEC lawsuit has led to a delisting spree for XRP from major exchanges including the likes of Coinbase and Binance.US. Many believe this delisting spree would make XRP almost untradable at least in the US. If the delisting of XRP was not bad enough, one of Ripple’s Series C leads investors Tetragon Financial Group is suing the company for making them invest in security.

Ripple in its defense claimed that its partnership deal with Tetragon already has a clause that if XRP is deemed as security in the future they would have the option to having Ripple redeem their Ripple equity. However, at present, the case is currently underway and they are only accused of distributing security and therefore the lawsuit filed by their lead investor holds no ground.

The official statement read,

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In Ripple’s Series C investment agreement, there is a provision that if XRP is deemed to be a security on a go-forward basis, then Tetragon has the option of having Ripple redeem their Ripple equity. Since there has been no such determination, this lawsuit has no merit. We are disappointed that Tetragon is seeking to unfairly take advantage of the lack of regulatory clarity here in the U.S. The courts will provide this clarity and we are very confident in our position.


To keep track of DeFi updates in real time, check out our DeFi news feed Here.

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Source: https://coingape.com/xrp-lawsuit-blockchain-com-joins-the-list-of-platforms-to-delist-xrp/

Blockchain

Kraken Daily Market Report for January 26 2021

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Overview


  • Total spot trading volume at $1.33 billion, near the 30-day average of $1.65 billion.
  • Total futures notional at $542.6 million.
  • The top 5 traded coins were, respectively, Bitcoin, Ethereum, Tether, Polkadot, and Chainlink.
  • Although Chainlink (-1.0%), Litecoin (-1.7%) and others were down; Bitcoin(+1.2%), Ethereum (+3.3%), and Uniswap (+23%) were up.

January 26, 2021 
 $1326.2M traded across all markets today
 Crypto, EUR, USD, JPY, CAD, GBP, CHF, AUD 
XBT 
$32529. 
↑1.2% 
$552.5M
ETH 
$1358.7 
↑3.3% 
$442.4M
USDT 
$1.0011 
↑0.1% 
$149.3M
DOT 
$17.117 
↓0.4% 
$40.4M
LINK 
$23.059 
↓1.0% 
$25.0M
USDC 
$0.9999 
↑0.0% 
$20.2M
BCH 
$427.28 
↓0.9% 
$19.6M
UNI 
$13.853 
↑23% 
$18.5M
ADA 
$0.3441 
↑0.7% 
$16.7M
LTC 
$134.74 
↓1.7% 
$14.6M
XRP 
$0.2681 
↑0.3% 
$13.2M
AAVE 
$277.08 
↑13% 
$8.43M
XLM 
$0.2614 
↑0.3% 
$5.41M
XTZ 
$2.9084 
↓0.26% 
$4.2M
FIL 
$22.180 
↓1.0% 
$3.61M
CRV 
$2.1399 
↑7.2% 
$3.43M
ALGO 
$0.6021 
↑8.6% 
$3.36M
SNX 
$16.771 
↑8.6% 
$3.2M
XMR 
$137.92 
↑0.6% 
$2.92M
DAI 
$1.0005 
↑0.02% 
$2.64M
GRT 
$0.5361 
↑1.5% 
$2.22M
EOS 
$2.6297 
↓0.6% 
$2.18M
ICX 
$0.8948 
↑11% 
$2.08M
COMP 
$236.97 
↑12% 
$1.95M
ATOM 
$7.7332 
↑0.29% 
$1.82M
YFI 
$30280. 
↑3.6% 
$1.69M
KEEP 
$0.3131 
↓4.2% 
$1.5M
KSM 
$102.03 
↑3.4% 
$1.33M
BAT 
$0.2989 
↓3.0% 
$1.28M
OMG 
$3.4422 
↓2.7% 
$1.19M
DASH 
$104.90 
↑0.4% 
$1.19M
TRX 
$0.0295 
↑0.2% 
$1.11M
XDG 
$0.0082 
↓0.7% 
$1.09M
QTUM 
$3.4386 
↑4.6% 
$1.04M
MLN 
$36.117 
↓5.6% 
$1.01M
NANO 
$3.2120 
↑1.2% 
$1.0M
MANA 
$0.1665 
↑1.0% 
$916K
ZEC 
$89.189 
↑1.6% 
$914K
WAVES 
$6.8173 
↑2.5% 
$905K
KAVA 
$2.3313 
↓1.5% 
$643K
ETC 
$7.4335 
↓0.7% 
$520K
STORJ 
$0.4256 
↑9.9% 
$393K
KNC 
$1.3156 
↓0.04% 
$355K
OXT 
$0.2995 
↑1.7% 
$288K
ANT 
$4.0750 
↑5.1% 
$270K
SC 
$0.0044 
↓1.2% 
$266K
PAXG 
$1869.4 
↑0.3% 
$246K
REP 
$21.454 
↑4.4% 
$221K
LSK 
$1.3000 
↓1.6% 
$187K
GNO 
$115.59 
↑0.8% 
$177K
BAL 
$21.730 
↑3.7% 
$127K
REPV2 
$19.177 
↓0.6% 
$59.7K
TBTC 
$33172. 
↓2.6% 
$56.2K



#####################. 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 (January 26 2021)



Figure 2: Mid-size trading assets: (measured in USD) (January 26 2021)



Figure 3: Smallest trading assets: (measured in USD) (January 26 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 (January 26 2021)



.


#########. Returns and Volume ############################################

Returns and Volume


Figure 5: Returns of the four highest volume pairs (January 26 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 (January 26 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. (January 26 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/7623/kraken-daily-market-report-for-january-26-2021/

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Blockchain

Solana targets growth in Southeast Asia with a $5M grants scheme

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Solana has turned its focus towards decentralized finance in Southeast Asia with a new $5 million development fund.

The Solana Foundation created the fund in partnership with Vietnam-based investment firm Coin98 Ventures, enabling regional startups building on Solana to receive technical, marketing, and community support, as well as up to $100,000 in funding. The fund will run for the next three years with a specific focus on projects within the DeFi and Web3 spaces, including marketplaces, exchanges, and other DApps or tooling.

This is one of the first grants specifying a core region of interest, with a particular focus on Vietnam. Solana Foundation Executive Director Eric Williams:

“Our goal is to create the optimal conditions for developers in Southeast Asia to build amazing things on Solana.”

According to the announcement, “project teams may be distributed, but must have a physical presence in Southeast Asia.” The announcement makes it clear that if they do not have a presence there, they will not qualify for the fund.

Williams explained that the foundation partnered with Coin98 Ventures because of the technical and community support they can provide, adding that the key to this fund being successful is the combination of financial and technical support:

“Sometimes hurdles can be solved with extra money, other times they cannot.”

DeFi is gaining traction within the Solana ecosystem, driving trading volume to all-time highs earlier this month.

Using treasuries and fund campaigns to boost developer ecosystems within blockchains is common with programs already available for a range of blockchain networks including Bitcoin, Ethereum, OkCoin, and Polkadot.

In September last year, Polkadot received one of the largest fund boosts to date with Digital asset development company RockX investing $20 million to support the Polkadot ecosystem over the next five years.

Source: https://cointelegraph.com/news/solana-targets-growth-in-southeast-asia-with-a-5m-grants-scheme

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Blockchain

TA: Bitcoin Holds Strong At $31K, Why The Bulls Are Facing Uphill Task

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Bitcoin price is stuck in a range below the $33,500 and $33,800 resistance levels against the US Dollar. BTC is likely to continue lower unless it clears the $33,800 resistance.

  • Bitcoin retested the $31,000 zone and managed to stay in a range.
  • The price is currently facing resistance near $32,800 and the 100 hourly simple moving average.
  • There is a short-term ascending channel or a » Read more

” href=”https://www.newsbtc.com/dictionary/bear/” data-wpel-link=”internal”>bear flag forming with support near $31,900 on the hourly chart of the BTC/USD pair (data feed from Kraken).

  • The pair could trade in a range, with a strong resistance near $33,500 and $33,800.
  • Bitcoin Price Is Facing Strong Resistance

    After a failed attempt to clear the $35,000 resistance, bitcoin price trimmed gains and traded below $33,800. BTC even broke the $32,500 level and settled below the 100 hourly simple moving average.

    There was a spike below the $31,000 level, but it remained stable above $30,800. A low is formed near $30,823 and the price is currently recovering higher. It surpassed the 23.6% Fib retracement level of the downward move from the $34,915 high to $30,823 low.

    Bitcoin price is currently facing resistance near $32,800 and the 100 hourly simple moving average. The 50% Fib retracement level of the downward move from the $34,915 high to $30,823 low is also near $32,800.

    Bitcoin Price

    Source: BTCUSD on TradingView.com

    At the outset, it seems like there is a short-term ascending channel or a » Read more

    ” href=”https://www.newsbtc.com/dictionary/bear/” data-wpel-link=”internal”>bear flag forming with support near $31,900 on the hourly chart of the BTC/USD pair.  To continue higher, the bulls need to gain strength above $32,500, $32,800 and the 100 hourly SMA.

    The next strong resistance is near the $33,500 and $33,800 levels. A close above $33,800 could increase the chances of a steady rise in the coming sessions.

    Fresh Dip in BTC?

    If bitcoin fails to clear the $32,800 resistance or $33,500, it could start a fresh decline. An initial support is near the channel support at $31,900.

    A clear break below the channel support could open the doors for a larger decline towards the $30,800 support. Any more losses may possibly call for a downside break below the $30,000 support zone.

    Technical indicators:

    Hourly MACD – The MACD is struggling to gain momentum in the bullish zone.

    Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is now close to the 50 level.

    Major Support Levels – $31,800, followed by $30,800.

    Major Resistance Levels – $32,800, $33,500 and $33,800.

    Source: https://www.newsbtc.com/analysis/btc/bitcoin-holds-strong-at-31k/

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