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    UK and the EU are on the ‘cusp’ of Brexit deal, says Raab

    The UK is on the “cusp” of a Brexit deal with the EU to overhaul Northern Ireland’s trading arrangements, Britain’s deputy prime minister Dominic Raab said on Sunday. The two sides are close to resolving the bitter dispute arising since the UK left the EU single market and customs union in 2021 by agreeing changes to the Northern Ireland protocol, which sets out the region’s trading regime and was part of the Brexit agreement finalised by Boris Johnson.Pro-British parties in Northern Ireland objected to how the protocol treats the region differently to the rest of the UK, while businesses complained about unnecessary bureaucracy.Rishi Sunak’s proposed Brexit deal is designed not only to restore devolved government in Northern Ireland, but also to improve the UK’s relations with the EU and the US, where Joe Biden’s administration has expressed concerns.British officials said the UK and the EU had held “positive” talks on Sunday in an attempt to finalise a deal which could be announced as early as Monday.“Hopefully there will be good news in a matter of days rather than weeks,” Raab told Sky News on Sunday. “We are not there yet, but we are obviously in a position where we are close to, on the cusp of, a deal.”Sunak told the Sunday Times he was “giving it everything” to try to strike a deal with the EU on the Northern Ireland protocol.But he could face a showdown with some Eurosceptic Conservative MPs and the Democratic Unionist Party, Northern Ireland’s largest unionist party, over the deal to overhaul the protocol. The DUP last year forced the collapse of Northern Ireland’s power-sharing government at Stormont in protest at how the protocol creates a de facto border in the Irish Sea.The DUP objects to how goods being shipped from Great Britain to Northern Ireland must undergo checks. This reflects how Northern Ireland remains part of the EU single market for goods in Johnson’s Brexit deal.Sunak told the Sunday Times that he did not believe the deal would leave Northern Ireland in the “orbit” of Brussels.The prime minister added he would try to resolve the concerns of the DUP, which also objects to how the European Court of Justice has a role in overseeing implementation of the Northern Ireland protocol.DUP leader Sir Jeffrey Donaldson has called for changes to the legally binding UK withdrawal agreement with the EU and has urged Sunak to get the right deal, even if that takes longer.Ireland’s taoiseach Leo Varadkar said on Saturday that the UK and EU were “inching towards conclusion” of a deal. “I would just encourage everyone to go the extra mile to come to an agreement because the benefits are huge,” he told reporters. Raab confirmed the proposed Brexit deal was designed to cut checks on goods moving from Great Britain to Northern Ireland and to limit the role of the European Court of Justice. A “green lane” with minimal checks would be set up at Irish Sea ports for goods going from Great Britain into Northern Ireland. A “red lane” involving substantive checks would be used for goods heading for the Irish Republic.Control over issues, including value added tax and state aid, would rest with London, rather than Brussels.

    “If we can scale back some of the regulatory checks that apply and some of the paperwork that applies, that would in itself involve a significant, substantial scaling back of the role of the European Court of Justice,” said Raab.The deal is expected to reduce the influence of the European Court of Justice in Northern Ireland but keep it as the ultimate arbiter of disputes about EU law.Mark Francois, leader of the European Research Group of pro-Brexit Tory MPs, said cutting the influence of the European Court of Justice was not enough. He told Sky News the DUP could not accept a Brexit deal where EU law was superior to UK law in Northern Ireland.“Unless that legal text when we see it expunges EU law from Northern Ireland it’s very unlikely that the DUP will support it . . . less of a role is not enough,” said Francois. “We have to get rid of EU law in Northern Ireland.” More

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    Voyager is selling crypto assets through Coinbase, suggests on-chain data

    Since Valentine’s Day, Feb. 14, Voyager has sent crypto assets to Coinbase on an almost daily basis, alleges on-chain analyst Lookonchain. The investigation shows that Voyager transferred millions of dollars using a mixed bag of cryptocurrency tokens, including Ether (ETH), Shiba Inu (SHIB) and Chainlink (LINK).Continue Reading on Coin Telegraph More

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    Crypto Community Trolls Solana as it Suffers Major Network Outage

    The crypto community makes fun of the Solana blockchain as it has suffered another major network outage in recent times. “How is this proof-of-stake blockchain in the top ten crypto list,” a crypto enthusiast twittered. A crypto influencer account on Twitter used the former CEO of the bankrupt FTX exchange, Sam Bankman-Fried, as a meme, saying he was the culprit.In the early hours of Saturday, the Solana blockchain experienced reduced functionality. Users reported a significant slowdown in block finalization and some transaction failures. An official Solana Twitter page confirmed the situation, noting that a coordinated restart was underway to address the issue.Key figures in the Solana ecosystem were still searching for a villain hours after the crisis began. Among the major hypotheses was that something called a “fat block” had clogged up the blockchain’s workings. Unfortunately, the network outage impacted the price of the Solana utility token, SOL. The coin trades at $22.67 after losing over 4% in cumulative seven-day performance, according to data from the market tracking website, CoinMarketCap. Additionally, its 24-hours trading volume fell by over 16 as crypto traders bought and sold only about $500 million worth of SOL.Last Wednesday, the US-based crypto exchange, Coinbase (NASDAQ:COIN), released a research report arguing that the fundamental value proposition of the Solana blockchain persists from a technical perspective, regardless of the widespread negative sentiment in the community. The exchange noted that Solana was well-positioned to reassert itself as a genuine layer-1 competitor, given Solana’s relative strength in network activities, transactions, users, and development.The post Crypto Community Trolls Solana as it Suffers Major Network Outage appeared first on Coin Edition.See original on CoinEdition More

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    DEX Volume on OP Network Rises Above $200M Over the Last 24 Hours

    Coinbase (NASDAQ:COIN) recently announced that it will build its Layer-2 on top of the Optimism (OP) Network. The Twitter user, Patrick | Dynamo DeFi (@Dynamo_Patrick), tweeted this morning that OP’s trading volume surged following the announcement.In the tweet, the Twitter user added that decentralized exchanges (DEXs) on the Optimism Network processed more than $200 million in swaps over the last 24 hours.
    Volume on Optimism network surges (Source: DeFiLlama)As can be seen from the screen shot of DeFi Llama shared in the tweet, the 24-hour volume on OP DEXs reached $203.89 million. This is a 31.44% increase in OP DEX volume over the last 7 days. This ranks it underneath Binance Smart Chain (BSC) and above the Polygon network.In related news, the price of OP experienced a 1.37% drop in price over the last 24 hours according to the crypto market tracking website, CoinMarketCap. The altcoin’s price has also weakened against the two crypto market leaders, Bitcoin (BTC) and Ethereum (ETH), by 1.79% and 1.41% respectively. As a result, the price of OP stands at $2.85 at press time.The daily trading volume for OP has also dropped 43.46% over the last 24 hours. This has brought the daily volume for OP down to $561,369,794.
    Daily chart for OP/USDT (Source: TradingView)The price of OP has retraced to the daily support level at around $2.707 after pumping to $3.290 on 24 February, 2023.In addition to dropping to the aforementioned support level, OP’s price is also currently resting on a positive trend line which was established over the last 2 weeks after OP’s price printed higher highs and higher lows during this time.Disclaimer: The views and opinions, as well as all the information shared in this price analysis, are published in good faith. Readers must do their own research and due diligence. Any action taken by the reader is strictly at their own risk. Coin Edition and its affiliates will not be held liable for any direct or indirect damage or loss.The post DEX Volume on OP Network Rises Above $200M Over the Last 24 Hours appeared first on Coin Edition.See original on CoinEdition More

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    Three Altcoins Traders Should Keep An Eye On In The Upcoming Week

    Altcoins have been exceeding expectations in 2023, after many analysts merely predicted short-lived bull runs at the start of this year. Despite these low expectations, certain altcoins have been catching investors’ attention, and could experience a breakout in the week to come.
    Tezos / Tether US 1D (Source: TradingView)One of these altcoins is Tezos (XTZ). After its recent partnership with Google Cloud, XTZ attracted a lot of attention. Many believe that the project has gained enough attention to target $1.75 in the coming week.Although the price of XTZ is currently down by 1.70%, the RSI is still in a bullish region with a spike in buying pressure. This could push the crypto to the $1.75 region.
    AGIX price (Source: CoinMarketCap)AI token SingularityNET (AGIX) has also seen an increase in attention with the rising popularity of ChatGPT. At the moment, AGIX is trading hands at $0.4025 after a 5.47% drop in price over the last day.The crypto’s 24 hour trading volume is also in the red by more than 66% to now stand at $98,084,601. If the price of AGIX can break above $0.45, the crypto could surge to $0.66 very soon.
    LUNC / Tether US 1D Source: TradingView)Another altcoin to keep an eye on in the week to come is Terra Luna Classic (LUNC). The altcoin is currently trading at $0.0001613 after a 2.10% drop in price over the last day. The crypto is also in the red by more than 5% over the last week.A breakout above the 100-EMA (Exponential Moving Average) line and $0.0002 could lead the price of the crypto to rise above $0.00027 by next week.Disclaimer: The views and opinions, as well as all the information shared in this price analysis, are published in good faith. Readers must do their own research and due diligence. Any action taken by the reader is strictly at their own risk. Coin Edition and its affiliates will not be held liable for any direct or indirect damage or lossThe post Three Altcoins Traders Should Keep An Eye On In The Upcoming Week appeared first on Coin Edition.See original on CoinEdition More

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    Voyager Transfers $86 Million To Coinbase Over Two Weeks

    Voyager Digital has made several multi-million dollar transactions over the past couple of weeks. The bankrupt crypto lender has transferred more than $86 million worth of crypto assets to United Stated based crypto exchange Coinbase since February 14. According to data compiled by on-chain analytics firm Lookonchain, the assets transferred to Coinbase include 2.24 trillion Shiba Inu (SHIB) worth $28 million, 15,635 ETH worth $25 million, 7.75 million OCEAN worth $3 million, 640,000 Chainlink Tokens (LINK) worth $4.4 million and 28.5 million of its own native token VGX, among several other crypto assets. The Twitter thread published by Lookonchain earlier today also revealed that the value of the assets currently held by Voyager Digital was in excess of $630 million. The bankrupt crypto lender has received 100 million USDC from Coinbase over the past three days. Voyager’s current crypto holdings include 172,223 ETH worth $276 million, 186 million USDC, 6.5 trillion SHIB worth $81 million, 2.14 LINK worth $15.8 million, 581,052 AVAX worth $10.5 million, 12 million FTM worth $5.6 million and 1.17 billion STMX worth $8.3 million, among several other tokens. Voyager Digital was in the news earlier this week after its billion-dollar deal with Binance’s American arm was opposed by federal and state-level regulators in the United States. The Securities and Exchange Commission (SEC)A and the New York Department of Financial Services (NYDFS) objected to Binance U.S’ $1.02 billion deal to acquire the assets of the bankrupt crypto lender. The post Voyager Transfers $86 Million To Coinbase Over Two Weeks appeared first on Coin Edition.See original on CoinEdition More