Aurelia Butler

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    in Cryptocurrency

    XRP Ledger surpasses 2.6 billion transactions, outperforming Bitcoin and Ethereum

    Infranger highlighted the scalability and interoperability of the XRPL, emphasizing its status as one of the most efficient blockchain networks. He noted that the network’s transaction speed, typically completing within 3 to 5 seconds, has been reliable for over a decade. This swift transaction speed was previously underscored by SpendTheBits, a payment platform on the XRPL, last October.The XRP network consistently logs over 1 million transactions per day due to its remarkable speed, according to Infranger. He stated that more than 2.6 billion transactions have been processed on the XRP Ledger, exceeding Ethereum’s transaction count.Despite these impressive figures, Infranger stressed that enhancing the performance of the XRP Ledger remains a priority for RippleX developers. He indicated that RippleX and its developer community are continually striving to improve the infrastructure.On-chain data provider Bitinfocharts supported Infranger’s assertions. Since the latter half of 2020, XRP has consistently logged daily transactions above 1 million. There were several notable surges in transaction count on the XRP Ledger from January to March this year, reaching an annual peak of over 2.35 million transactions on March 19.Even though XRP underwent a significant price correction in August, daily transactions remained above 1 million. Conversely, daily transaction counts on both Bitcoin and Ethereum networks have been comparatively lower. While Ethereum’s transaction count is close to XRP’s, XRP’s daily transactions have consistently outpaced Ethereum’s. Bitcoin records an average of 400,000 daily transactions—150% less than XRP.Ripple’s quarterly report in January revealed that the XRPL processed over 106 million transactions in Q4 2022, equivalent to more than 1.13 million daily transactions. The figure was slightly higher in Q2 2022, with 114 million transactions recorded.This article was generated with the support of AI and reviewed by an editor. For more information see our T&C. More

  • 113 Shares109 Views

    in Economy

    Sterling hits fresh multi-month lows on dollar and euro

    LONDON (Reuters) – The pound dipped to its lowest in six months against the dollar and its weakest in four months against the euro on Monday, as jitters across asset classes hurt the currency already bruised by markets’ reevaluation of the Bank of England’s rate outlook. The BOE kept rates on hold last week – the first meeting at which it had done so since December 2021 – on the back of signs economic growth is slowing. Market pricing prior to that meeting had reflected expectations that a further 25 basis point rate hike was all but certain for 2023, if not at that specific meeting, but, on Monday, expectations for a further rate hike this year were roughly 40%. That underscored a reversal of the trend earlier this year when the pound had been boosted by expectations that the Bank of England would keep raising rates longer than the European Central Bank and the Federal Reserve. Sterling, on Monday, dropped as much as 0.25% to $1.2213 its lowest since March 2023, though later steadied to trade flat on the day at $1.2242. It is on track for a monthly loss of 3.4%, its most since September last year when it was battered by a strong dollar and then Prime Minister Liz Truss’s economic policies. The euro on Monday briefly touched 87.03 pence, its highest since May, and was last flat a touch below that level. “What we’re seeing today is the Chinese real estate worries bleeding into the European session, weighing on equity markets and then on the euro and sterling,” said Nick Rees, FX market analyst at Monex Europe.”That builds on what happened last week with the Bank of England,” said Rees, “Markets are now thinking about what the Bank is seeing in the economy.”Global shares fell on Monday, partly on the back of embattled developer China Evergrande (HK:3333) saying it was unable to issue new debt due to an ongoing investigation into its main domestic subsidiary. [MKTS/GLOB]British business activity data released on Friday, the day after the BOE’s decision showed companies endured a much tougher September than feared, with the purchasers managing index dropping to its lowest since the pandemic lockdown of January 2021. More

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    in Cryptocurrency

    Ethereum co-founder Vitalik Buterin sends 400 ETH to Coinbase

    A total of 400 ether (ETH) worth about $632,000 was transferred from Buterin’s wallet to the Coinbase (NASDAQ:COIN) cryptocurrency exchange in the early hours on Sept. 25. Over the past ten days, Vitalik’s wallet has systematically transferred ethers to multiple centralized exchanges. A total of 2,421 ETH worth almost $4 million have been deposited on Coinbase since Sept. 15.According to an on-chain data platform, Spot On Chain, the source of the 2000 ETH transaction is the address (0xD04daa65144b97F147fbc9a9B45E741dF0A28fd7) that belongs to Buterin. The platform lists 321 ETH deposited on the Kraken exchange between Sept. 15 and Sept. 19.Buterin also reportedly deposited a total of 1,700 ETH on Bitstamp in multiple transactions on Sept. 17 and 20, and deposited 500 ETH on Paxos on Sept. 19.On Aug. 21, wallet 0xd8d, labeled by the Ethereum Name Service (ENS) as Vitalik.ETH, was seen moving 600 ETH worth $1.01 million to a Coinbase address.The price of ETH fell during trading on the morning of Sept. 25, according to CoinMarketCap. The leading altcoin lost 1% during the day, hitting a 24-hour low of $1,570. At the time of writing, ETH was trading at $1,566.September is traditionally considered a bad month for ETH, but the long-term outlook for Ethereum remains optimistic.This article was originally published on Crypto.news More

  • 100 Shares119 Views

    in Cryptocurrency

    Cryptocurrencies waver as investors await Federal Reserve decisions

    Ether, the second-largest cryptocurrency by market capitalization, also recorded a 1.5% decline to $1,575. Other smaller cryptocurrencies or ‘altcoins’ like Cardano and Polygon reported losses of 1% and 2% respectively. Meme-based cryptocurrencies such as Dogecoin and Shiba Inu were not immune to the downward trend, with both falling by 2% and 1%.This decrease in cryptocurrency prices coincides with historically low trading volumes and volatility in the crypto market, suggesting a decline in investor interest. The market continues to anticipate a decision from the Securities and Exchange Commission regarding spot Bitcoin exchange-traded funds (ETFs). However, this potential catalyst may take several months to materialize.External macroeconomic factors have also been influencing cryptocurrency prices. Similar to traditional stock market indices like the Dow Jones Industrial Average and S&P 500, Bitcoin’s price movements have shown responsiveness to shifts in interest rate outlooks. With interest rates currently at generational highs, increased returns on risk-free cash or government debt could deter investors from venturing into riskier assets such as Bitcoin.Investors are closely watching whether the Federal Reserve will increase interest rates in November. Subsequent decisions on lowering rates are also critical considerations. Strong economic data could discourage the Federal Reserve from reducing rates while signs of economic weakness could prompt a more accommodative stance.Economic indicators due this week could potentially influence these decisions and consequently impact cryptocurrency markets. These include Monday’s Dallas Fed manufacturing activity data for September and the Chicago Fed national activity index for August. Later in the week, revisions to the U.S. gross domestic product over the past five years and the personal-consumption expenditures index, the Fed’s preferred inflation measure, are expected.This article was generated with the support of AI and reviewed by an editor. For more information see our T&C. More

  • 113 Shares199 Views

    in Cryptocurrency

    Why low latency is important for cryptocurrency exchanges, explained

    The term “latency” in cryptocurrency trading refers to the delay or lag in the amount of time it takes for data to move between two points in a trading system. Data latencyOrder execution latency Network latencySoftware latencyHardware latencyMarket data feed latencyMarket latencyExchange latency Execution speedArbitrage opportunitiesAlgorithmic tradingMarket turbulenceCompetitive advantageRisk managementHFT impact Continue Reading on Coin Telegraph More

  • 88 Shares149 Views

    in Economy

    German business sentiment worsens in September -Ifo

    BERLIN (Reuters) -German business morale deteriorated slightly in September, falling for the fifth month in a row and underlining recession fears in the euro zone’s largest economy, a survey showed on Monday.The Ifo institute said its business climate index stood at 85.7, a decline from a revised August figure of 85.8 but above the 85.2 forecast by analysts in a Reuters poll. “The German economy is treading water,” Ifo president Clemens Fuest said.The institute’s head of surveys, Klaus Wohlrabe, said a third-quarter contraction was likely, following stagnation in the second quarter.The German economy is seen at risk of sliding into its second recession in a year after shrinking in the last quarter of 2022 and the first quarter of 2023. “German businesses, as well as politicians and the entire economy, are gradually getting used to the idea that the economy is in for a longer period of subdued growth,” ING’s global head of macro Carsten Brzeski said. He said the Ifo reading showed an unchanged economic picture, with the Chinese economy still not gaining momentum, high interest rates weighing on activity and continued policy uncertainty regarding the energy transition. Companies were less satisfied in September than in the previous month with their current business situation, with the sub-index falling to 88.7 in September from 89.0 in August. “The Ifo (index) confirmed that the German economy is extremely weak,” Capital Economics senior Europe economist Franziska Palmas said. The current conditions index, which has a better relationship with gross domestic product than the business climate index, now points to output falling by around 1% quarter-on-quarter, Palmas said. “With household real incomes set to flatline over the coming quarters, and industry and construction firms facing a sharp drop off in new orders, we expect a further fall in GDP in the fourth quarter,” she said. Companies’ pessimism regarding the coming months dissipated slightly, however, with the expectations sub-index recovering slightly, to 82.9 from 82.7 in the previous month. Sentiment among German managers darkened further in services and construction, while it rose in manufacturing and trade, the survey showed. More