References to the tax were removed from the U.S. debt bill, but that doesnt mean its gone for good.

Quant (QNT), an Ethereum-based token, has experienced a 15.15% increase in its price over the past seven days. QNT plays a vital role in Quant Networks Overledger, a suite of enterprise software solutions designed to connect public blockchains and private networks seamlessly. By enabling the creation of multi-chain decentralized applications (mDapps), Quant Network empowers developers to build and operate applications that span across multiple blockchains simultaneously.

With its focus on interoperability, Quant Networks Overledger solution provides a framework for bridging different blockchain networks, fostering connectivity and facilitating efficient data exchange between disparate systems. The use of QNT within the Overledger ecosystem not only powers these interoperability capabilities but also plays a crucial role in securing and incentivizing participants within the network.

As the price of Quant (QNT) continues its upward trajectory, the growing interest in the token reflects the recognition of its importance in enabling the seamless operation of mDapps and facilitating cross-chain communication. With Quant Networks innovative approach to interoperability, the future holds promising possibilities for enhanced collaboration and integration across various blockchain platforms.

Related Reading: Injective Protocol (INJ) Tallies 23% Price Surge In Past 7 Days Heres Why

Whys There A Strong Bullish Sentiment For QNT? 

The recent price surge of Quant (QNT) can be attributed to the transformative power of distributed ledger technology (DLT) and the unique features offered by the Quant platform. DLT, surpassing the limitations of traditional blockchain, provides solutions to unanswered questions, enabling secure and cost-effective asset exchange while driving value, opening new markets, and increasing efficiency for enterprises, governments, and individuals worldwide.

XRP is now marking its 11th year since its inception. Over the past decade, XRP has established itself as a prominent player in the blockchain industry, captivating the attention of investors and enthusiasts alike. 

With its all-time performance reaching remarkable heights, the crypto continues to demonstrate its resilience and enduring value in the ever-evolving landscape of digital finance.

As it enters the next chapter of its journey, the crypto continues to attract attention and generate excitement among both long-time supporters and newcomers to the world of cryptocurrency.

XRP is 11 years old today the cryptocurrency was born on June 2, 2012. pic.twitter.com/l6ue4GcpZd

Sjuul | AltCryptoGems (@AltCryptoGems) June 2, 2023

Price Surge And Resilience

At the time of writing, the price of XRP on CoinMarketCap currently stands at $0.523. This figure highlights a slight increase of 1.4% within the past 24 hours, and a decent climb of 11% over the course of seven days. These figures are indicative of the significant growth it has experienced in recent times, with a staggering 8,679.89% increase since its initial introduction to the market.

Ahead of this 11th-year milestone, Ripple, the company behind XRP, took a strategic step by locking 700 million of the tokens into a series of escrows.

This initiative aligns with Ripples ongoing commitment to effectively manage the supply and distribution of XRP. The introduction of the escrow mechanism serves as a mechanism to ensure a controlled and predictable release of tokens into the market.

By implementing these escrows, Ripple aims to provide stability and transparency to XRPs market dynamics. This strategic...

This is an opinion editorial by Dan Weintraub, an author and high school teacher who first became interested in Bitcoin while teaching economics.

I recently watched with bemused indifference CNNs Donald Trump town hall charade, yet another in an endless list of macabre political and social zombie dances.

The truth is, I dont care all that much anymore about party politics, about the upcoming presidential election cycle, about supposedly heartfelt and earnest liberal and conservative political expressions within the American polity, about the hand-wringing surrounding the tenuous future of American Democracy, etc. What I do care about, however, is how easy it is for human beings to be manipulated, to believe the lies.

We are all sheep blind followers with little sense of discernment we are all entirely programmable and entirely impressionable. History may not repeat itself per se, but as an endless record of follower-humans following leader-humans off of proverbial cliffs demonstrates (and for no other reason than the leader-humans were/are really skilled at lying), it certainly feels like dj vu all over again.

Worry not! This is not an article about Trump or about ideological disaffection. Trump is just one man in a human melodrama that spans millennia. The focus of this piece is about the role Bitcoin can play in restoring belief and in ending human somnambulance; it is about how we disempower the disinformationalists. And it is a warning, for those in power will go to any lengths to maintain their hypnotic grip on humanity.

Why Governments Fear Bitcoin

So, the first question we must examine is this: Why are governments seemingly so afraid of Bitcoin? Interestingly, its not simply because Bitcoin has the potential to end governments monopoly on money (which is admittedly a pretty big deal in and of itself). No. The underlying reason actually indicates something far more fundamental: Governments are afraid of Bitcoin as a construct because governments can only govern through deceit and dishonesty.

You see, the most powerful and successful governments throughout history have been (and remain) the ones that are the most adroit and accomplished at lying. The United States government, that bastion of supposed democratic righteousness, is in fact a compelling example of this principle. From Vietnam to Iraq, Joseph McCarthy to Lyndon Johnson to Jerome Powell and beyond, U.S. history is replete with examples of the power of lies, and of the malleability of the minds of well-intentioned, patriotic, innocent, hopeful, lost citizens.

Bitcoin Outs The Lies

Back to Trump for a moment. This from the BBC:

Mr. Trump has questioned the legitimacy...

As criminals devise innovative ways to exploit AI for malicious intentions, OpenAI remains committed to equipping defenders with the necessary tools.

Arbitrum (ARB), a prominent governance token in the decentralized finance (DeFi) ecosystem, recently witnessed a decent surge in price following renewed buying activity from a well-known DeFi whale address. 

Large-scale investors often influence market sentiment and can significantly impact the price of a given asset. However, as the rally unfolds, questions arise about the sustainability of this upward momentum and its implications for the future of Arbitrum.

Whales Unusual Buying Activity Coincides With ARBs Rally

Arbitrums (ARB) current price of $1.24 on CoinMarketCap highlights its remarkable performance, with a noteworthy 3.4% rally witnessed within the past 24 hours, followed by an impressive seven-day climb of 7%. Interestingly, this surge in value coincided with unusual buying activity associated with renowned trader Andrew Kangs crypto addresses.

Particularly noteworthy is the fact that Andrew Kang, co-founder of Mechanism Capital, has been making some interesting movements within the Arbitrum ecosystem.

Kang put $1 million worth of stablecoins into Arbitrum pools and allocated nearly a quarter of the funds to the purchase of RDNT tokens. RDNT is the native token of the DeFi lending platform Radiant Capital.

After filling his bags with RDNT, Kang subsequently exchanged his newly acquired tokens and existing RDNT reserves for $867,000 worth of ARB.

These transactions were further followed by Kang depositing the proceeds into Radiant Capital, where he borrowed Circles USD Coin. These details have been revealed through data obtained from Lookonchain, a reliable data resource.

Seems like Andrew Kang is using leverage to go long $ARB on @RDNTCa...

Injective Protocol, a prominent blockchain platform catering to decentralized applications (dApps), has recently gained significant attention due to the notable surge in the price of its native token, injective (INJ). Over the past week, the INJ token has experienced a remarkable growth rate of 23%. 

This surge reflects the growing market interest in the platform and underscores the utility and governance features associated with the INJ token. Serving as a dual-purpose instrument, the INJ token empowers users by offering them utility within the platform while granting them a say in shaping its future through governance mechanisms. 

Whats The Cause Of The Spike?

At the time of writing, the price of INJ stands at $7.83, experiencing a minor 0.9% decline within the day. However, over the course of the week, INJ has demonstrated a commendable increase of 23%. This surge in price is coupled with a circulating supply of $100 million, contributing to the platforms liquidity and overall market dynamics. The positive market sentiment and a high Total Value Locked (TVL) have been identified as key factors driving the recent price boom for Injective (INJ).

Related Reading: Celsius Sets New Standard: $1 Billion In ETH Staked As Deposits Show No Sign Of Slowing

Exciting developments lie ahead for Injective as it reveals its plans to revamp its proof-of-stake (PoS) delegation mechanism through the Avalon upgrade. This upgrade will introduce an advanced system, incorporating sub-second block times and layer-1 scalability optimizations. By leveraging the Avalon upgrade, Injective (INJ) aims to enhance transaction speed and efficiency, promising a more seamless user experience on the platform.

The impressive growth of Injective (INJ) and its commitment to innovation through the Avalon upgrade position the project as a notable player in the blockchain industry. With a positive market outlook and advancements on the horizon, Injective (INJ) continues to captivate inve...

Floki Inu (FLOKI) is taking a giant leap forward in the world of meme assets. In an exciting development, the team behind this dog-themed cryptocurrency has unveiled a groundbreaking announcement: users can now utilize Floki to make purchases on AliExpress, a global e-commerce giant. 

This unprecedented integration with one of the worlds largest online retailers is set to revolutionize the way people perceive and interact with cryptocurrencies, catapulting Floki Inu to new heights of recognition and utility.

Floki Inu: Revolutionizing E-Commerce With AliExpress Integration

In an announcement, FLOKI holders can now harness the power of their digital assets to make seamless purchases on AliExpress.

AliExpress is a Chinese-based online retail service operated by the Alibaba Group. It was established in 2010 and is comprised of small businesses in China and other locations, such as Singapore, that sell products to international online shoppers.

You can now purchase products on #AliExpress using $FLOKI through https://t.co/ee0PBRn2Nh!

Buy from a selection of over 100 million items and enjoy shipping to over 200 countries.#FLOKIs ecosystem keeps growing! https://t.co/XEeOLamoQ9

FLOKI (@RealFlokiInu) May 31, 2023

This milestone has been made possible through the integration of Shopping.io, a crypto-focused e-commerce protocol that opens doors for shoppers to utilize various digital currencies for transactions with major retailers. 

Among its extensive list of partner platforms are retail giants such as Walmart, Amazon, eBay, and Etsy, offering an unparalleled shopping experience powered by cryptocurrencies.

Shopping.io serves as a bridge between the realm of cryptocurrencies and mainstream e-commerce, revolutionizing the way digital assets are perceived and utilized in everyday transactions. 

By seamlessly integrating with popular online marketplaces, this crypto-focused e-commerce pro...

Uniswap and its foundation have no association with the scam as efforts are being made to combat it.

Mitsubishi UFJ Financial Group hasnt revealed what firms will be the first to utilize its platform; however, a handful of banks have reportedly opted for a separate stablecoin solution.

In the first four months of 2023, net crypto ATMs worldwide declined by 5,850.

0.00010 BTC = 2.72 USD
1.00 USD = 0.00004 BTC
Converter

The reported deal comes just a few days after CoreWeave announced an additional $200 million worth of funding via an extended Series B funding round.

Celsius deposits ETH into staking contracts (Arkham Intelligence)

Celsius, a popular lending platform, has made significant moves in staking Ethereum (ETH) as they stake almost $1 billion worth of the cryptocurrency. According to the Blockchain intelligence company Arkham Intel, In the past 24 hours alone, Celsius has staked over $600 million worth of ETH, with no signs of slowing down. This represents a massive on-chain flow, and the rate of deposits continues to increase.

Celsius Goes All-In On ETH

Celsius address was the largest withdrawer when Lido (LDO) opened withdrawals in mid-May, withdrawing over 400,000 ETH, worth $800 million. They held this ETH in the Unstaking wallet for two weeks, declaring their intent to stake with institutional provider Figment instead.

Around 24 hours ago, Celsius separated the ETH from the unstaking wallet into two separate deposit wallets. One wallet is marked Celsiuss ETH2 Deposit wallet, while the other wallet is labelled Staked ETH and deposits to Figment. Celsiuss staking wallet has seen over $400 million worth of ETH inflows over the past 24 hours, with continual deposits made every few minutes.

Figment is a staking and infrastructure provider for blockchain networks, including Ethereum. The company provides institutional-grade staking infrastructure and tools for investors and companies looking to participate in the proof-of-stake (PoS) networks.

Furthermore, the infrastructure provider offers a range of staking services, including delegated staking, which allows investors to delegate their tokens to a validator node to generate rewards without having to run their own node. The company also provides a range of developer tools, APIs, and analytics to help users better understand and manage their staking activities.

Morevoer, the wallet provided to Celsius by Figment has seen over $215 million worth of ETH. In total, Celsius has deposited over $600 million worth of ETH, with the Celsius Staking wallet still holding over $150 million worth of ETH, and around $60 million worth of ETH left in the wallet they used to unstake fr...

Marathon Digital CEO Fred Thiel interview at Bitcoin conference in Miami (CoinDesk)

This weeks Crypto Biz looks at the crypto industry since the FTX collapse, Tethers Bitcoin mining in Latin America, Tabis funding round and Nvidias artificial intelligence machines.

Bitcoin daily chart (CoinDesk Market Index)

The framework under the bill would allow certain tokens to qualify as digital commodities if they were decentralized and crack down on the SECs previous approach to crypto.

ARBs price notched a double-digit gain after a popular DeFi whale address resumed buying the governance token, but is the rally sustainable?

The top 100 DeFi tokens had a bullish last week of May, with most of the tokens recovering from two weeks of bearish pressure.

Roberto Dagnoni, CEO and Executive Chairman at 2TM, owner of Mercado Bitcoin. (2TM)

The wallet developer also raised $4.5 million from Hack VC and other firms to further advance ZK-based enterprise solutions.

Bitcoin, the worlds most valuable cryptocurrency, is going green, and the pace at which the network has reduced its carbon emissions in the past three years has been noted by climate activists. Nonetheless, how this could impact BTC prices and attract technology firms like Tesla, the electric automobile manufacturer, is yet to be seen.

Carbon Emission Associated With Bitcoin Miners Rapidly Falling

As of late May, on-chain data from Woonomic shared by Daniel Batten, a climate technology investor, and activist, noted that the amount of Carbon emission associated with Bitcoin mining has fallen by nearly 50% from 601g/kWh to 299g/kWh in three short years.

It should be observed that the Bitcoin hash rate and prices have been rising steadily during this time. In the last quarter of 2021, the Bitcoin price soared to as high as $69,000 before collapsing to below $16,000 in November 2022. Although prices have since recovered, soaring to as high as $31,000 in April 2023, the hash rate has been steadily rising over the years. 

In proof-of-work networks like Bitcoin and Litecoin, the hash rate relays the computing power dedicated to the network in real time. It is a variable that makes the network secure and robust against third-party attacks, and can also be used to gauge the pace at which the Bitcoin platform consumes energy.

Miners channel computing power as hash rate to secure the Bitcoin network. They need this to verify transactions in exchange for network rewards. The more the hash rate, the higher the chance of earning a block and, thus, the 6.25 BTC every 10 minutes. 

However, the tough competition for the block rewards has been partly blamed for environmental degradation and carbon emissions from miners. To stay competitive, Bitcoin miners have to operate gear that is energy-intensive. Critics have always maintained that electricity powering them is from coal and other non-renewable sources.

As of June 2, the Bitcoin Energy Consumption Index shows that 105.23 TWh powers Bitcoin. It is the same amount of electricity consumed by Kazakhstan. The resulting Carbon emission, they add, stands at 58.69 Mt CO2, comparable to that emitted by Libya.

However, data...

U.S. Securities and Exchange Commission (Jesse Hamilton/CoinDesk)

Crypto insurance underwriter Evertas will increase coverage limits to $420 million per policy while adding additional mining coverage.

Bitcoin and most major altcoins are witnessing subdued price action, indicating a lack of buying interest from the larger players.

WASHINGTON, DC - MAY 16: Samuel Altman, CEO of OpenAI, appears for testimony before the Senate Judiciary Subcommittee on Privacy, Technology, and the Law May 16, 2023 in Washington, DC. The committee held an oversight hearing to examine A.I., focusing on rules for artificial intelligence. (Photo by Win McNamee/Getty Images)

Sage Young/CoinDesk

CleanSpark, Inc., a publicly traded bitcoin mining company, has released its May 2023 bitcoin mining and operations update, revealing significant growth in both its bitcoin holdings and revenue. The company's bitcoin holdings grew by 44% in May, reaching a total of 451 BTC. Bitcoin mined during the month increased by 16% to 609 BTC. 

CleanSpark's CEO, Zach Bradford, expressed satisfaction with the company's performance, stating, "Not only do we continue to increase the amount of bitcoin in our treasury, but we also surpassed $100 million in revenue for our fiscal year to date."

Bradford also attributed the higher-than-expected bitcoin production to increased operational efficiency and a temporary surge in transaction fees due to increased interest in Ordinals on the blockchain. During this period, CleanSpark's daily bitcoin production reached nearly 30 BTC, almost double its normal daily production.

In terms of operational updates, CleanSpark's 50MW expansion in Washington is progressing according to plan, with the facility expected to be fully operational by the end of June. The company's Sandersville site expansion is also underway, with preparations being made for the addition of over 6 EH/s to CleanSpark's mining operations.

To fund its growth and operations, CleanSpark sold 471 bitcoins in May, generating approximately $12.9 million in proceeds. The company currently operates a fleet of about 67,196 latest-generation bitcoin miners with a total hashrate of 6.7 EH/s.

CleanSpark described its commitment to expanding its bitcoin mining capacity and capitalizing on market opportunities. The company stated that with its strong performance and increasing bitcoin holdings, it remains well-positioned for future growth in the industry.

In his latest report titled Crypto Outlook, June 2023, Bloombergs Senior Macro Strategist, Mike McGlone, predicts more pain ahead for Bitcoin (BTC) and the broader cryptocurrency market. McGlone argues that despite a rebound in prices in 2023, the risks for the Bloomberg Galaxy Crypto Index remain tilted downward.

Is Bitcoin Doomed?

According to McGlone, cryptocurrencies face several headwinds, including the potential for a US recession, a potential stock bear market, vigilant central banks, and high interest-rate competition. These factors, combined with the speculative excesses that led to the 2021 peak, suggest that the outlook for the crypto market is bearish.

Furthermore, McGlone points out that Bitcoin weakening in May, along with copper and equities in China, is unusual compared to the stalwart Nasdaq 100 Stock Index. While the potential for the Nasdaq to lift all boats exists, it may contrast with still-rising Fed rate-hike expectations. 

Additionally, McGlone suggests that Bitcoin, which is often referred to as digital gold due to its perceived status as a store of value, may not be able to outperform the traditional safe-haven asset in a US economic contraction. This is because Bitcoin is still relatively young compared to gold, which has been used as a store of value for thousands of years. As a result, investors may be more likely to flock to gold during times of economic uncertainty, rather than newer assets like Bitcoin.

Moreover, plunging commodities, producer prices, and bank deposits may serve as deflationary omens of the lags to Federal Reserve tightening. These factors suggest that the risks for the Bloomberg Galaxy Crypto Index are tilted downward, and investors should be cautious.

As reported by NewsBTC on May 22nd, Mike McGlone highlighted the historical patterns of boom and bust in Bitcoin, which are closely tied to liquidity. According to McGlone, Bitcoins current price level of around $27,000 may be at risk of reversion, considering that it was only $7,000 at the end of 2019 before the massive liquidity pump in 2020.

McGlones analysis also indicates that Bitcoins downward trajectory, as demonstrated by its 52-week moving average, contrasts with the upward trend it experienced at the onset of the pandemic. This suggests that the cryptocurrency is susceptible to booms when liquidity is abundant but vulnerable to busts when liquidity is removed.

McGlones latest analysis aligns with his previous thesis that the outlook for Bitcoin and the broader cryptocurrency market is bearish, given the poten...

The central bank released its statement in response to comments on a CBDC discussion paper published in February 2022.

Dan Larimer who led the EOSs $4 billion token sale in 2017, one of the largest of the ICO era.

New and old bitcoin mining rigs. (Eliza Gkritsi/CoinDesk)

Kristin Smith, CEO, Blockchain Association (Shutterstock/CoinDesk)

Maker Foundation CEO Rune Christensen.

In a recent interview with Bitcoin Magazine, Chief Lending Officer Chase Larson and CEO Jed Meyer of St. Cloud Financial Credit Union, based in Minnesota, discussed their experiences with Bitcoin and their efforts to develop a bitcoin custody solution at the credit union. Larson shared his personal journey with digital assets, starting in 2016, and his realization of the need for accessible resources and education for individuals interested in Bitcoin. He joined the credit union in 2021 and focused on education and connecting people with resources related to cryptocurrency.

Meyer emphasized the importance of understanding the material need for Bitcoin services in their community and outlined a strategic four-step approach that prioritizes education and storage, then transactional ability and banking products. Meyer highlighted their focus on education as a way to change the narrative around Bitcoin and address the risks and concerns associated with it.

Regarding the bitcoin custody solution, Larson stated that they have been working on developing a product that is currently operational but not yet ready for launch to their 25,000 members. The credit union has been prioritizing education both internally and externally, ensuring that their employees and members understand the intricacies and risks of cryptocurrencies. They aim to be a reliable partner for their members, offering safe storage options and guidance without advising specific investments.

From an educational perspective, we said, let's really start foundational from the ground floor, Larson explained. We're going to walk our members through this high level of education, in an effort to, one, help them become more informed, regardless if they own it today, plan to own it or not, we want our members to be well informed. And then two for those that choose to get into the space, hopefully, they make more informed decisions and understand the risks.

The interview also touched on their collaborative approach with regulators to ensure responsible implementation of their Bitcoin services. Larson and Meyer believe that education and storage are areas where they can make a significant impact while working within regulatory frameworks. They have engaged with regulators and are in ongoing discussions to incorporate their feedback into the development of policies and procedures.

Speaking on the future impact that Bitcoin could have on the traditional finance realm, Meyer said that If you do nothing, I think you're taking more risk as to where this industry is actually headed in the future, and how it will actually impact us to a significant degree. And if you don't want to be on the receiving end of how others have developed this, you should probably get involved now.

Overall, St. Cloud Financial Credit Union's approach to Bitcoin reflects a commitment to educating their members and working collaboratively with regulators to navi...

New York City street view of multiple bridges and overpasses (Red Morley Hewitt/Unsplash)

Here are the pricing model lines that Bitcoin might have to stay above if the bullish momentum of the cryptocurrency has to continue.

These Bitcoin Pricing Models Are Currently Near The Spot Price

In a new tweet, the on-chain analytics firm Glassnode has pointed out how the three pricing models, the adjusted realized price, the short-term holder cost basis, and the 200-week MA, are all close to the assets value right now.

To understand the first and second models here, the realized price needs to be looked at first. The realized price is a pricing model derived from the realized cap, which is a capitalization model that assumes that the real value of each coin in the circulating supply is not the spot price, but the price at which it was last moved.

When this cap is divided by the total number of coins in circulation, the average cost basis or acquisition price in the market is obtained. This value, which the average holder on the network bought their coins at, is known as the realized price.

Now, the first pricing model, the adjusted realized price, is a modification of this indicator that drops from the data all holders who havent moved their coins since more than seven years ago.

Such old supply usually consists mostly of the coins that have been lost (perhaps due to the wallet keys no longer being accessible), which means that this part of the supply wouldnt be relevant to the current market, hence why the indicator cuts it out.

As for the second model of interest here, the short-term holder (STH) cost basis, this metric keeps track of the realized price of specifically the investors who have been holding their coins since less than 155 days.

Here is a chart that shows how these Bitcoin pricing models have compared with the spot price during the past year:

As displayed in the above graph, the Bitcoin adjusted realized price currently has a value of $25,300, while the short-term holder cost basis has a value of $26,000.

Historically, these models have acted as both resistance and support for the price, depending on the wider trend. In bullish periods, they usually act as support so its possible that if the price drops deep enough to hit them, a rebound may happen.

The third line on the chart, the...

Stablecoins could help crypto firms to remove themselves from the banking system and prevent the U.S. government from cutting off their financial lifelines.

Taurus raised $65 million in a funding round three months ago. Its clients can now issue digital securities automatically.

Justin Sun (CoinDesk TV)

Succumb to the temptation of Apple's 4.15% APR ... and you may find yourself cast out of the Garden. (Detail of Michaelangelo's Sistine Chapel, 1509)

In a recent post, Ripple CTO, David Schwartz, explained Automated Market Makers (AMMs) a vital component in the decentralized finance (DeFi) framework, and their trading strategies for profit.

Schwartz states that AMMs thrive when an asset is volatile but does not change its price direction much. Schwartz explained further that an asset whose volatility exceeds its long-term trend would have a positive average percentage movement. However, if the long-term trend is negative, it will reduce the average slightly and vice-versa. 

Its Not Difficult to Create A Trading Strategy, Ripple CTO

According to the Ripple CTO, it is not difficult to create a trading strategy to track the average percentage movement of an asset. 

He further explained that the trading strategy of an AMM is advanced compared to a simple trading strategy and focuses on price volatility.

Schwartz, however, added a disclaimer at the end of his analysis. He stated that the AMM trading strategy only works for an AMM between an asset with a fixed price and one whose price is volatile enough to overcome its long-term trend. 

Also, he believes that although AMM works even when the assets dont meet the stated conditions, their behavior is different. From his analysis, a notable deviation will only occur with a long-term negative price movement that exceeds the volatility.

Crypto Enthusiast Reacts To Analysis

Reacting to Schwartzs AMM analysis, Molly Elmore asked if XRP would be the asset with a fixed price paired with every other asset on the XRP ledger (XRPL).

In response,...

(Unsplash)

Dmitri Cherniak's Ringers #879 "The Goose" (Sotheby's)

Christy Goldsmith Romero pointed to the collapse of FTX, Terra and Celsius in having the CFTC reconsider the way it handled risk management.

Nairobi, Kenya (Amani Nation/Unsplash)

(DrawKit Illustrations/Unsplash)

(CoinDesk/Helene Braun)

Texas flag. (Shutterstock)

Bitcoin has been busy perfectly mimicking its moves after the March 2020 crash, QCP Capital argues.

Bitcoin is recording minor profits on higher timeframes but has been unable to display significant price action. In this context, volatility is reaching a record low, but the status quo could suddenly shift in the short term.

As of this writing, Bitcoin trades at $27,100 with sideways movement in the last 24 hours. In the previous week, BTC recorded a 3% increase, while other assets in the top 10 by market capitalization show similar performance, with XRP and MATIC leading the small uptick.

The New And Old Status Quo, Bitcoins Path Towards New Highs

Per a recent report from the trading desk of QCP Capital, the macroeconomic landscape has become clear as political actors in the U.S. reached a compromise on the Debt ceiling. The narrative around this event was triggering uncertainty in the financial sector.

Increased uncertainty contributed to the decline in volatility and the sideways movement across risk-on assets, including Bitcoin. In that sense, QCP Capital claims that BTC is following a trajectory similar to 2020 when uncertainty in the macro scene and the crypto market emerged from a long winter.

At that time, the cryptocurrency declined to a critical level and displayed sideways movement throughout the year. As seen in the chart below, Bitcoin has not only behaved as it did in 2020 but trended upwards later that year.

What is cryptocurrency investment?

Cryptocurrency investment in its most basic form is the process of buying digital currencies and holding them in the hope that the market falls in your favour while your portfolio increases in value.

The value of a cryptocurrency is determined by the principle of supply and demand. As demand for a cryptocurrency, coin or token rises, there becomes fewer of them in circulation resulting in a boom in price action. If the supply of coins outpaces demand for them, their value typically falls.

There are several indicators that might draw an investor towards a particular cryptocurrency. Some investors and traders choose which cryptocurrencies to invest in by conducting a technical analysis of a range of coins.

An investor might have certain criteria that need to be met to invest. For example, cryptocurrencies that are in an overall uptrend, are showing positive signs of adoption and have a durable, scalable blockchain interface are more desirable than those that dont.

Common types of crypto investing

There are many ways to invest in cryptocurrency, besides directly purchasing coins or tokens through an exchange.

Some of the common types of crypto investing include:

Investing in crypto-oriented or pro-crypto companies As the prices of cryptocurrencies soar, so does the stock price in companies that form their business around them. Companies that are able to integrate cryptocurrency blockchain networks into their service offering can prove profitable as cryptocurrency use becomes more widespread.

Investing in crypto-heavy funds Crypto funds typically carry less risks than committing capital to one specific cryptocurrency. As some cryptocurrencies bull and others bear (decrease or increase), fund holders can still benefit from having their losses hedged by their gains making them attractive to more risk-averse investors.

Buy crypto EFTs on a brokerage platform Similar to crypto funds, EFTs can also be a great way diversify a portfolio without committing large amounts of capital. The price of an EFT is determined by the price action of a group of coins or tokens rather than just one making it a safer option for novice investors.

Incorporate cryptocurrency into your Roth IRA or 401K More and more brokerages and investing platforms are allowing cryptocurrency allocations to be held in an IRA or 401K account. For example, Fidelity is unveiling plans to allow users to dedicate 20% of their 401k holding to cryptocurrencies allowing investors to diversify their 401k.

What do I need to know before investing in cryptocurrency?

Before plunging into the world of cryptocurrencies, there are a few things to consider:

Cryptocurrencies are unregulated and decentralized Despite being one of the allures that draw investors toward...

Joining me today is Scott C. Smith, Chief Sustainability Officer at ECO Integrated Technologies, Inc., one of the few independent experts in the ground in East Palestine exposing the ongoing cover up by the EPA and Norfolk Southern. (https://odysee.com/@TLAVagabond:5) (https://www.bitchute.com/channel/24yVcta8zEjY/)   Source Links: Coming Shortly Bitcoin Donations Are Appreciated: www.thelastamericanvagabond.com/bitcoin-donation (3FSozj9gQ1UniHvEiRmkPnXzHSVMc68U9f)

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A Binance spokesperson told Cointelegraph that the company had forecasted the drop after its decision to end its zero-fee Bitcoin trading but that its not a concern.

Justin Sun, the founder of the Tron blockchain, has announced that the Tron networks native asset, TRX, can now be fully accessed on Ethereum (ETH), the largest altcoin network in the cryptocurrency industry. This has been made possible through the BitTorrent Bridge, which allows for seamless interoperability between the two blockchains.

 BitTorrent Bridge Paves The Way To Ethereum Integration

Interoperability in the context of blockchain refers to the ability of different blockchains to communicate and exchange information with each other seamlessly. In this case, the BitTorrent Bridge enables Trons native asset, TRX, to be transferred and accessed on the Ethereum network, and vice versa.

Related Reading: Litecoin Breaks $95 As Whale Transactions Spike

This means that TRX holders can now access the larger Decentralized Finance (DeFi) market and decentralized applications (dapps) available on Ethereum, while Ethereum users can now access TRX and its associated dApps on the Tron network. The BitTorrent Bridge acts as an intermediary between the two blockchains, facilitating the transfer of assets and data in a secure and decentralized manner.

The move is a significant development for the Tron ecosystem, which is currently the second-largest DeFi ecosystem with over $5.6 billion in total value locked and more than 2.9 million active users, according to DeFiLlama data.

Justin Suns tweet regarding the Ethereum expansion via BitTorrent Bridge has already had a positive impact on TRXs price, with the asset jumping by 2% following the announcement. This further demonstrates the potential for Tron to expand its reach and appeal to a wider audience in the cryptocurrency industry.

With Trons expansion to Ethereum, the cryptocurrency industry continues to see the growing importance of interoperability between different blockchains. As more projects explore the potential of cross-chain functionality, the industry is likely to see further development and innovation in the coming years.

TRON Sets New Daily Transaction Record

Despite the challenges faced by the cryptocurrency industry in recent months, TRON has continued to perform strongly, defying expectations and posting impressive growth. According to a Twitter thread by Justin Sun, the network hit a...

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Litecoin has recently managed to break past the $95 mark as on-chain data shows the whales have become active on the network.

Litecoin Has Surged After Spike In Whale Activity

According to data from the on-chain analytics firm Santiment, the current whale activity is the highest it has been since January. The relevant indicator here is the whale transaction count, which measures the total number of transfers taking place on the Litecoin network that involve the movement of coins worth at least $100,000.

Since such transactions are quite large in scale, generally only the whale entities are capable of making them. Thus, this indicator can provide us with an idea about the number of transfers that these humongous holders are making on the blockchain.

Due to the sheer number of coins involved in each of these transfers, if a large amount of them take place at once, the market can register noticeable fluctuations. So, whenever the whale transaction count has a high value, the price of LTC becomes more probable to display volatility.

On the other hand, when this metric has low values, the price may stay relatively calm, as it suggests that the whales arent making too many moves on the market right now.

Now, here is a chart that shows the trend in the Litecoin whale transaction counts over the last six months or so:

As shown in the above graph, the Litecoin whale transaction count has observed a large spike recently. This means that whales have ramped up their transfer activity in the last couple of days.

At the peak of this spike, the indicator had reached its highest level since January 26, 2023. These high values have come as the price has been going up, and since they have taken place, the uptrend has only continued further, with LTC managing to break past $95.

Generally, when whales become active, the price volatility can go either way as the transaction count metric only tells us about the pure number of transfers happening on the chain and not about whether they are buying or selling moves.

However, as the price has seemingly continued to rise following this latest spike, it may appear that the Litecoin whales could be supportive of the current uptrend.

The chart also includes the data for the transaction volume, which is a measure of the daily total...

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