Cryptocurrency

In light of these developments, analysts are expressing a bullish outlook on XRP’s future. A technical analysis indicates that if XRP breaks above a crucial trendline, its value could potentially climb towards $1.35 due to increased open interest levels. This optimism is echoed by predictions from Changelly’s blog, suggesting that the price of XRP could soar as high as $6.75 by January 2030.Adding to the whale activity, an unknown wallet transferred a substantial 43.80 million XRP to two major exchanges: Bitso in Mexico City received 18.10 million XRP, while Bitstamp in Luxembourg City got 25.70 million XRP. Despite concerns that such large transfers to exchanges might lead to a supply surge and subsequent price drop, the market has reacted positively with the price of XRP climbing by 2.82% to $0.6075, even as trading volumes fell by over a quarter.Contrary to typical market trends where increased supply on exchanges can depress prices, yesterday saw XRP rebound sharply after dipping below the $0.6 mark. Crypto analysts have forecasted that Ripple Labs-backed XRP will maintain its upward momentum, setting short-term price targets at $1.05 and $1.88 amidst the current unpredictable market activities.As the XRP ledger experiences a surge in whale transactions, investors and analysts are closely monitoring Ripple’s market performance. InvestingPro provides real-time data and analytics that can offer a deeper understanding of the company’s financial health and stock potential.InvestingPro Data shows a robust Revenue Growth for Ripple in the last twelve months as of Q3 2023, at 10.32%. This growth is slightly higher when looking at the quarterly figure, which stands at 12.57% for Q3 2023. Such consistent growth in revenue is a positive signal for investors, indicating that the company’s core business is expanding.Another key metric, the Gross Profit Margin, was reported at 46.24% in the same period. This high margin reflects Ripple’s ability to manage its production and service costs effectively, which is crucial for sustaining profitability.InvestingPro Tips suggest keeping an eye on the company’s PEG Ratio, which is currently at 1.02. A PEG ratio around 1 can imply that the company’s stock price is in line with the market’s expectations of earnings growth. Given Ripple’s substantial revenue growth, the PEG ratio may provide insights into the potential for future stock price movement.Furthermore, with the Black Friday sale, InvestingPro subscription is now more accessible with a discount of up to 55%, offering an excellent opportunity for investors to access additional tips. Currently, InvestingPro lists several more tips for investors looking to dive deeper into Ripple’s financials and stock potential.In conclusion, the financial data and insights from InvestingPro could be particularly valuable for those interested in Ripple’s market activity, especially in light of the recent whale transactions and analysts’ bullish outlook on XRP.This article was generated with the support of AI and reviewed by an editor. For more information see our T&C. More

According to the details, the transaction took place at block height 818087. The whale reportedly imputed 139.42495946 BTC worth $5.23 million as the intended amount to send, and the received funds turned out to be 55.76998378 BTC, leaving the difference of 83.65 BTC as the expended fees.This kind of massive transaction fee is rare but not uncommon considering the fact that the network has no specific quote as the fee that users pay when transacting.While it remains unknown whether the massive gas fee implies a return of related bogus charges, retail holders have continually bemoaned the relatively high cost of using the Bitcoin network. The emergence of ordinal inscriptions and BRC-20 tokens contributed to the surge in BTC gas fees earlier in the year.To resolve this, the Lightning Network, a Layer-2 scaling solution was introduced to take care of the gas fee as well as the speed of transactions on the Bitcoin network, with to show. Lightning Network is changing the game in more ways than one, and many trading platforms, including Coinbase (NASDAQ:COIN) Global Inc, have the technology to help bolster its payment offerings.This move by Coinbase has been by veteran investment banker Cathie Wood, a long-term advocate and proponent of Bitcoin who noted that the tech will help bolster the mainstream adoption of the cryptocurrency.This article was originally published on U.Today More

Dune analytics data showed that a wallet with the Ethereum Name Service (ENS) tag called “hanwe.eth” claimed a total of 22,851,000 Blur (BLUR) tokens in the season two airdrop of Blur. At the time of writing, coin price tracker CoinGecko showed the amount is worth around $11.2 million. Continue Reading on Cointelegraph More

$GFOX aims to outshine established players like Shiba Inu by introducing a presale that has already seen a 28% price increase due to a pricing-demand dynamic. The project’s design focuses on creating scarcity through token burns while rewarding players in its Web3 game, where top performers can earn prizes. Additionally, the Stargate module within the game provides opportunities for residual income.The ecosystem of Galaxy Fox is sustained by a 6% transaction tax that is distributed among staking rewards, the project’s treasury, and a liquidity pool. This structure encourages early investment, with the presale offering escalating token prices across ten stages. Investors participating in the first stage could potentially see profits soar by 450%.The newfound enthusiasm for $GFOX comes amidst rising Bitcoin prices, which have surpassed $37,000. The end of the prolonged crypto winter seems imminent as expectations grow around U.S. SEC ETF approvals, signaling a broader market recovery. Altcoins like $GFOX are benefiting from this shift in sentiment as investors look for cryptocurrencies with strong fundamentals and significant growth potential.Analysts are optimistic about the future of Galaxy Fox, predicting that $GFOX could surge by up to 4,200% post-launch in 2024. This prediction is buoyed by plans for aggressive ecosystem expansion through reinvestment strategies involving merchandise sales and transaction taxes.The resignation of CZ from Binance has also removed a key bearish concern from the market, further fueling positive sentiment towards small caps like Galaxy Fox. With its colorful-cosmic aesthetic appeal and strategic initiatives, Galaxy Fox stands out as an attractive investment opportunity for those who stake early and participate in its vibrant ecosystem.This article was generated with the support of AI and reviewed by an editor. For more information see our T&C. More

The growing institutional interest in Bitcoin is seen as a driving force behind its potential to reach a market capitalization exceeding $3 trillion by mid-2025. Historical patterns indicate that halving events, which reduce miner rewards, often trigger bull runs. Analysts project that Bitcoin’s price could soar above $100K after the next halving due to increased investment and advancements in regulatory frameworks like the EU’s Markets in Crypto-Assets (MiCA) and potential U.S. cryptocurrency regulations.Cathie Wood of Ark Investment has an even more optimistic view, predicting that Bitcoin could climb to between $650K and $1.5 million by 2025. This bullish outlook is underpinned by an expected wave of FOMO (fear of missing out) among investors seeking quality assets. The anticipation around these developments suggests that the cryptocurrency landscape is evolving rapidly, with significant implications for investors and the broader financial market.This article was generated with the support of AI and reviewed by an editor. For more information see our T&C. More

According to the announcement on Polygon Labs’ website from Nov. 22, the updated version of MyLugano features a multichain digital wallet for personal custody. The press release mentions “several tokens” already integrated into this app section and the plans to add more. Continue Reading on Cointelegraph More

The bank, which caters to 17.8 billion customers, aims to meet the needs of the digitally literate demographic looking for secure and diverse investment options. The collaboration with Bitpanda will allow Raiffeisen Bank’s clients to trade cryptocurrencies directly through the bank’s app. The interface is designed to be user-friendly, making the process as simple as traditional bank transfers.Curt Chadha, a representative from Raiffeisen Bank, emphasized that the service would come with robust security measures that customers are already accustomed to. This move comes as digital assets continue to gain traction among retail investors who are diversifying their portfolios beyond traditional stocks, bonds, and precious metals.The initial rollout of the service will begin in Vienna, where Raiffeisen Bank is headquartered. Bitpanda’s platform not only supports cryptocurrency trades but also offers trading in stocks, ETFs, and precious metals, thus providing a comprehensive suite of digital asset investments for interested clients.This article was generated with the support of AI and reviewed by an editor. For more information see our T&C. More

The investigation aims to verify the adoption of appropriate security measures on public and private websites to prevent “web scraping” of personal data used for AI training via third parties from “the ‘spiders’ of the manufacturers of artificial intelligence algorithms.”Continue Reading on Cointelegraph More