Cryptocurrency

This bearish trend within the crypto sector appears to be influenced by Ripple’s recent transfer of 60 million XRP from its one billion token unlock, which might be inducing selling pressures.However, potential positive developments are on the horizon for Ripple and its digital asset XRP. Banco de México, the country’s central bank, has expressed its intention to utilize Ripple’s xRapid for USD-MXN transactions. This move could potentially boost XRP’s value in the future.In addition to this, Judge Analisa Torres ruled in favor of Ripple in a case with the Securities and Exchange Commission (SEC). This legal victory could also contribute to a future increase in XRP’s value.Despite the current downturn in the crypto market, these forthcoming developments suggest potential opportunities for Ripple and XRP in the near future. As always, the evolving landscape of cryptocurrency remains subject to various factors, including regulatory decisions and macroeconomic conditions.This article was generated with the support of AI and reviewed by an editor. For more information see our T&C. More

Bitcoin’s (BTC) layer-2 scaling solution, the Lightning Network, achieved impressive growth, according to a report published on Oct. 10 by Bitcoin financial services company River Financial.The data reveals that routed transactions on the network surged from 503,115 in August 2021 to a staggering 6,599,553 in August 2023, representing an exponential growth rate of 1,212%.Transactions that involve more than two nodes are known as routed transactions, and according to Sam Wouters, a research analyst for River and the report’s author, the actual figures could be substantially higher than what has been reported.Wouters was so surprised by the data that he felt compelled to verify the calculations several times, even consulting with external parties for validation.The Lightning Network is a layer-2 protocol built on the Bitcoin blockchain. Commonly known as LN, the network comprises an architecture of channels that enable peer-to-peer transactions without the need for blockchain verification.Projected monthly Increase in routed transactions on Bitcoin Lightning Network | Source: RiverDespite having only 5,000 Bitcoin secured in the network and facing an ongoing bear market, Wouters emphasized that the Lightning Network is making remarkable progress. Google (NASDAQ:GOOGL) searches for Bitcoin have dropped by 45%, and its price has declined by 44%.The report also highlighted that the volume on the Lightning Network has increased dramatically. In August 2021, the volume was $12.1 million and 303 BTC. By August 2023, these figures had risen to $78.8 million and 2,950 BTC, marking a 546% and 874% increase, respectively.Estimated growth of monthly routed Bitcoin Lightning transaction volume | Source: RiverIn August 2023, the typical transaction size on the Lightning Network was approximately 44,700 satoshis, or $11.84. River Financial’s estimates suggest that the network had an active user base ranging from 279,000 to 1.1 million in September.Fascinatingly, the notion that Bitcoin’s Lightning Network would be a hub for micropayments continues to hold water. The latest report reveals that one-fourth of all transactions on the network are in the 1-10 satoshi range, equivalent to $0.0002, and are primarily used for gaming and streaming services.Another quarter of the network’s activity involves transactions within the 10-1,000 satoshi bracket, largely related to tipping. Transactions that exceed 10,000 satoshis appear to be geared towards commercial activities, remittances, and the rebalancing of nodes.River’s platform reported a 99.7% success rate for Lightning payments in August 2023 across 308,000 transactions. The primary reason for payment failure was the lack of a payment route with sufficient liquidity.The data set used by River consisted of 2.5 million transactions and represented 29% of the network’s total capacity and 10% of its payment channels.This article was originally published on Crypto.news More

In einem Quicktake vom 9. Oktober untersuchte die On-Chain-Analyseplattform CryptoQuant einen starken Rückgang der realisierten Kapitalisierung des aktivsten Teils des BTC-Angebots.Lesen Sie weiter auf Cointelegraph More

Il 16 Ottobre i fondi degli utenti saranno restituiti automaticamente agli indirizzi wallet da cui sono stati prelevati, a meno che non venga richiesta un’altra gestione. Gli utenti colpiti saranno pagati in Tether (USDT), con il valore calcolato alle 10:00 UTC del 9 Ottobre. More

This is significant since the majority of crypto assets, including , are trading poorly. According to on-chain analytics firm , most cryptocurrencies have experienced mild corrections, with Bitcoin staying flat at $27,400.Santiment highlights a few standout tokens that have bucked the general market trend; these include Render (RNDR). The Render network provides near-unlimited decentralized GPU computing power for next-generation 3D content creation.Render has been on the rise since the beginning of September, with the surge continuing into October. Despite the market’s recent sell-off, Render ended the last two days in the green.On the other hand, Bitcoin, the largest cryptocurrency by market cap, could record its fourth straight day of losses since Oct. 8 if a negative close is achieved today.According to , liquidity continues to dry up across digital assets as network settlement, exchange engagement and capital flows remain at cycle lows, highlighting the market’s present extreme disinterest. As a result, lackluster activity is seen across the markets.Meanwhile, as the market remains cautious, Bitcoin’s cryptocurrency market share is rising to levels last seen in 2021.According to data, Bitcoin now accounts for 50.1% of the crypto market’s $1.06 trillion worth, up from 38% at the start of 2023. When the risks associated with digital assets are perceived to be increasing, speculators tend to abandon smaller tokens.This article was originally published on U.Today More

The Tokenized Collateral Network is an application that allows investors to utilize assets as collateral. Using blockchain technology, investors can transfer collateral ownership without moving assets in underlying ledgers.Continue Reading on Coin Telegraph More

In the recent turn of events last week, Judge Analisa Torres denied the SEC’s interlocutory appeal to the ruling made on July 13. She scheduled the trial for April 24, 2024. Judge Torres’ declaration that XRP is not a security could potentially lift a significant regulatory cloud over the asset.The optimistic outlook for XRP also takes into account a surge in demand due to increased adoption by businesses and financial institutions. Alongside this, a bullish crypto market and the Bitcoin halving event slated for April 2024 could trigger a bull run that benefits XRP.Despite these favorable conditions and advantages of XRP such as low fees, Bard also cautioned about potential challenges. A negative lawsuit outcome affecting Ripple’s XRP sales and slow institutional adoption were cited as potential risks.This article was generated with the support of AI and reviewed by an editor. For more information see our T&C. More

Data from Cointelegraph Markets Pro and TradingView tracked increasing overnight BTC price weakness, including a trip to $26,978 on Bitstamp.Continue Reading on Coin Telegraph More