Cryptocurrency

As Bitcoin’s dominance rises, it seems to absorb much of the market’s momentum, leaving altcoins like Ethereum to trail in its wake. This dynamic is evident in Ethereum’s price movements, which, while positive, lack the explosive energy seen in past bull runs. The subdued momentum could be attributed to a range of factors, including the market’s hesitant stance on DeFi platforms, which have not regained the explosive popularity they enjoyed in previous cycles.The DeFi sector, which is largely built upon , has shown weak positions amid regulatory scrutiny and a global downturn in investor appetite for riskier assets. This has undoubtedly played a role in tempering Ethereum’s ascent, as the network’s intrinsic value is closely tied to the success and innovation within its ecosystem.However, the burgeoning NFT market provides a glimmer of hope. As interest in NFTs revives, Ethereum stands to benefit from increased transaction volumes and renewed enthusiasm for its blockchain, which underpins much of the NFT market. The potential of Ethereum Improvement Proposal (EIP) 1559, which aims to reduce the volatility of transaction fees, also bodes well for the network’s future utility and investment appeal.Looking ahead, the anticipated upgrade to Ethereum 2.0, which promises improved scalability and energy efficiency, could serve as a bullish catalyst for ETH’s price. Furthermore, the gradual recovery of the NFT space and persistent innovation within the DeFi sector suggest that the current rally could gain fresh momentum, even if the pace at this moment seems tempered.In the shadow of Bitcoin’s impressive surge past the $40,000 mark, XRP’s ascent presents a rather underwhelming narrative. As Bitcoin broke numerous resistances, XRP’s attempt at a rally seemed too tentative, which might be a bearish signal for the asset that has failed to gain any positions.Technical analysis of chart reveals its struggle to maintain upward momentum. After a spike that captured the market’s attention, the price action has since been contained, with XRP facing resistance that it seems unable to break decisively. The moving averages, typically a sign of potential future movement, have converged in a narrow band, suggesting a lack of strong market direction and investor indecision.The relative strength index (RSI), a measure of market momentum, remains in a neutral zone, neither overbought nor oversold, underscoring the absence of a clear trend. This indecisiveness in the market is compounded by XRP’s volume metrics, which have not displayed the surge required to back a robust rally, further solidifying the notion that the recent price action is uninspired and lackluster.Market sentiment toward is between cautious and bearish, reflecting concerns over ongoing regulatory challenges and market positioning. While XRP has a loyal community and a firm standing among the top cryptocurrencies by market capitalization, its recent performance suggests a bearish phase. Without a significant catalyst or change in market dynamics, XRP may continue to languish in its current range, overshadowed by the more dynamic movements of its peers like Bitcoin.This article was originally published on U.Today More

In May, Tether announced its plans to start allocating 15% of its net realized operating profits to purchasing Bitcoin (BTC). That decision has seen the firm acquire a total of 57,576 BTC worth approximately $2.4 billion at the current market valuation; however, they were for an average price of $22,480 per Bitcoin. Bitcoin has made impressive strides since the company decided to place its bet on Bitcoin. With prices rising as much as 150% year to date (YTD), Tether has seen its total Bitcoin stash grow by about 100%. The value of the company’s portfolio underscores another major positive milestone the company has made in recent times after confirming its plans for the top coin.Besides the steady allocation into Bitcoin, Tether also plans to , a plan it has currently allocated up to $500 million for.MicroStrategy, the non-crypto-native firm with an over 174,000 BTC stash has seen massively proportionate growth in its portfolio. MicroStrategy is a noteworthy example of a consistent Bitcoin backer as it has been accumulating Bitcoin since August 2020, with the coming this month.Another top beneficiary of the Bitcoin rally is El Salvador, the Central American nation that adopted BTC as its official currency. As the country’s President Nayib Bukele noted, its Bitcoin has earned a profit of over $3 million.This article was originally published on U.Today More

Jean-Marc Stenger of SocGen Forge highlighted the importance of EUR CoinVertible in diversifying and strengthening the cryptocurrency ecosystem. The stablecoin distinguishes itself with broad trading availability and is fully backed by the euro, which could make it a valuable tool for settling digital asset trades. This development is part of a broader shift as traditional financial institutions increasingly adopt blockchain technology.EUR CoinVertible is also setting a standard for compliance, aligning with upcoming UK initiatives and the EU’s Markets in Crypto-Assets (Mica) regulations, which are set to be enforced next year. Its introduction sets a precedent for compliance that has been missing in many of its peers. In a recent example of institutional engagement with the new stablecoin, Axa Investment Managers completed the purchase of a digital green bond using EUR CoinVertible.One of the key benefits for token holders is the reduced exposure risk, as the collateral euros are held independently from Société Générale’s balance sheet. This ensures that token holders have direct recourse in the event of any issues, without any liabilities falling back on the bank itself. The creation of EUR CoinVertible reflects Société Générale’s commitment to innovation and could lead to further integration of stablecoins within traditional financial markets.As Société Générale forays into the digital currency market with its EUR CoinVertible, the bank’s financial health and strategic moves are of particular interest to investors. With a Market Cap of approximately $20.34 billion and a P/E Ratio standing at 8.68, the bank presents itself as a potentially undervalued player in the financial sector. Moreover, the bank’s revenue over the last twelve months as of Q3 2023 stands at $23.5 billion, despite a notable decline of 16.74% in the same period, signaling a challenging environment for revenue growth.InvestingPro Tips for Société Générale (SOGN) indicate that strong earnings may enable the management to uphold its dividend payments, which have seen an increase for three consecutive years. This commitment to shareholder returns is underscored by the fact that the bank pays a significant dividend to its shareholders, a testament to its financial stability and a potential draw for income-focused investors.In addition, the bank is trading at a low Price / Book multiple, which could signal an attractive entry point for value investors. This is particularly relevant given that Société Générale is a prominent player in the Banks industry and is expected to remain profitable this year, as per analyst predictions.For readers looking to delve deeper into Société Générale’s financials and future prospects, InvestingPro offers a wealth of additional insights. There are 13 more InvestingPro Tips available for subscribers, providing a comprehensive analysis of the bank’s performance and market position. To access these tips, consider taking advantage of the special Cyber Monday sale, with discounts of up to 60% on a subscription. Plus, use coupon code sfy23 to get an additional 10% off a 2-year InvestingPro+ subscription, enriching your investment strategy with real-time data and expert analysis.This article was generated with the support of AI and reviewed by an editor. For more information see our T&C. More

The is a volatile and unending one because the former pioneered the industry and set the pace for Solana. Anatoly Yakovenko himself has often come out to recuse himself from any inflammatory comparison between Solana and Ethereum, as he believes both can coexist.However, in the podcast, the Solana cofounder said the move to build Windows 2000 is necessary as the current bottleneck in the blockchain world, where a single NFT buzz can lead to a gas fee spike in an unrelated transaction, somehow negates what the proponents of the industry are pitching.Despite his clear position that is far from disdain for Ethereum, the community showed division in the comment, with one party supporting Ethereum and the other supporting Solana.Despite its woes, Ethereum is currently the most favored of the lot and boasts of a decentralized finance (DeFi) total value locked (TVL) of $28.661 billion against the $703.46 million of Solana. Only recently did Solana’s trading volume for the first time.While these figures are significant, both protocols are building and Solana’s goal remains to become the Apple (NASDAQ:AAPL) of the crypto ecosystem.The next years will determine a lot about which of the two, or other Ethereum-killers, will stand the test of time.This article was originally published on U.Today More

The sender address of the largest one clearly belongs to Ripple DLT decacorn. Meanwhile, the XRP price has succeeded in rising over the past 24 hours, and it is currently targeting a higher increase.Details of the transfer provided by the XRP-centered explorer Bithomp shows that, after all, these millions of XRP were sent to a Ripple-linked wallet and have so far continued to stay within the company.The second transaction, where 23,800,000 XRP were wired from an address with an unregistered owner to the Bitstamp crypto trading venue, was initiated by an anon blockchain address. However, the above-mentioned XRP explorer showed that it was also made from a .This transaction may first look like a sale made on a recent XRP price surge. However, Bitstamp is known to be one of Ripple’s long-term partners that support its “Ripple Payments” platform used for instant and low-fee monetary transactions transnationally. “Ripple Payments” is powered by RippleNet network and uses XRP tokens, which are later converted into the local fiat currency, depending on the country of destination. Until the fall this year, “Ripple Payments” was widely famous as “On-Demand Liquidity” (ODL).Other platforms for this service that collaborate with Ripple include Mexico-based Bitso, Coins.ph in the Philippines and major South Korean exchange Bithumb.XRP, along with the rest of the crypto market, has been on the rise, as flagship cryptocurrency Bitcoin has been demonstrating a massive price surge over the past few days, and earlier today it succeeded in topping $44,000.This article was originally published on U.Today More

Inscriptions have utilized block space to attach additional data to transactions, potentially bypassing set limits by disguising the data as program code. Bitcoin Knots v25.1 has patched this issue, yet Bitcoin Core remains exposed, with hopes of a fix in the v27 release next year. This delay in resolution has ignited a war within the Bitcoin community, as developers and users take sides on the value and appropriateness of inscriptions on the blockchain.On the technical front, , which are a byproduct of these inscriptions, have been scrutinized for their use of block space. Each satoshi can carry an inscription up to approximately four MB in size. Although satoshis do not inherently come with inscriptions, this additional data can include anything from transaction comments to attached files, enhancing Bitcoin’s functionality.The controversy lies in the use of block space for purposes other than financial transactions, which many purists argue detracts from Bitcoin’s primary objective as a currency and a store of value. The introduction of Ordinals and the capacity to attach NFT-like data to satoshis have opened up new use cases for Bitcoin, simultaneously sparking concerns over network efficiency, block space scarcity and the true purpose of the blockchain.As for Bitcoin’s most recent price performance, the chart shows a robust bullish trend, with the recent candlesticks indicating sustained upward momentum. The price is trading comfortably above both the 50-day and 200-day moving averages, suggesting strong bullish sentiment on the market and a slight overbought state.This article was originally published on U.Today More

The unusual activity created a visual anomaly on the charts, disrupting the mostly dull market performance. Such events can trigger stop-loss orders from a multitude of traders, potentially leading to a cascade of buy and sell orders that amplify the currency’s volatility. This instance with XRP might have represented a significant liquidity hunt, where large orders target pockets of liquidity found at traders’ stop-loss levels before the price returns to its average trading range.Recently, has been showing a mixed bag of price performance, trading sideways with no clear direction. The presence of such market anomalies, particularly those suggesting market manipulation, can often serve as a precursor to a larger price correction. Traders and investors might interpret these movements as a signal to proceed with caution, as it indicates a market environment that is currently unstable and could turn bearish.The chart provided shows Solana’s solid performance, as the price maintains its position well above crucial moving averages. This steadfast performance suggests that the digital asset is gearing up for a significant breakthrough. An analysis of the chart reveals that the price action has formed a consistent series of higher lows, an indication of growing confidence among buyers and a potential precursor to a sustained bull run.Should Solana breach its current consolidation zone, the likelihood of a continued price breakthrough is strong. The cryptocurrency’s resilience and steady climb indicate that it might not only sustain its current level but is also poised to ascend toward more ambitious price targets. Investors are keenly watching for signs of a breakout, which could propel closer to its previous all-time highs.The market sentiment around Solana is buoyed by its robust ecosystem and the increasing adoption of its blockchain for various applications, including decentralized finance (DeFi) and non-fungible tokens (NFTs). This foundational strength, combined with favorable technical indicators, suggests that Solana is cutting through the market noise with a clear upward rally.The current price level is particularly crucial. Bitcoin is at a juncture that has previously acted as a significant psychological and technical barrier. A breakthrough at this level could confirm sustained bullish momentum, potentially establishing new support zones that could serve as launchpads for further gains. However, the price action also shows extended wicks on the upper side of recent candles, indicating rejection at higher levels, which might precede a .Furthermore, the trading volume has been inconsistent, with significant spikes on upswings but not consistently supporting the rally. This divergence between price and volume often warns of an upcoming price reversal. Market participants are also keeping a wary eye on macroeconomic indicators and regulatory news that could affect market sentiment and impact Bitcoin’s trajectory.This article was originally published on U.Today More