Cryptocurrency

XRP has become the fourth-largest cryptocurrency by market capitalization this week after Ripples partial victory over the SEC. The price of XRP surged as much as 98% in the hours following the decision, reaching as high as $0.93, according to data from TradingView. Meanwhile, its market cap surged a whopping $21.2 billion to reach a new yearly high of $46.1 billion. The new ruling has also sparked a fresh wave of re-listing activity from mainstay U.S. exchanges, with Coinbase (NASDAQ:COIN), Kraken and iTrustCapital making the token available for trading on their respective platforms.Continue Reading on Coin Telegraph More

During the most recent quarter, the protocol generated 2.5 million of its own Filecoin (FIL) in revenue, amounting to $11.5 million, representing a decline of 40.7% compared to last year’s second quarter in dollar terms. However, the decline was partly due to a sharp drop in the price of FIL tokens due to the 2022 cryptocurrency bear market, which was somewhat offset by the sharp increase in active storage deals.Continue Reading on Coin Telegraph More

Geist is a lending protocol running on the Fantom network. It had over $29 million worth of crypto assets locked in its contracts before the Multichain hack. Before the hack, Geist allowed users to borrow, lend or use bridged tokens from the Multichain platform as collateral, including bridged versions of USD Coin (USDC), Tether (USDT), Bitcoin (BTC) and Ether (ETH). It used Chainlink oracles to track the prices of these assets to determine their collateral and loan values.Continue Reading on Coin Telegraph More

In another positive event for the crypto space, the U.S. Dollar Index (DXY) completed a bearish head-and-shoulders pattern on July 12 and followed that up with a drop below the psychological level of 100 on July 13. The DXY typically moves in inverse correlation with Bitcoin (BTC); hence its weakness is a positive sign for the crypto bulls.Continue Reading on Coin Telegraph More

The court decision that XRP is not a security has brought about positive reactions from market participants, as it challenges the Securities and Exchange Commission’s (SEC) stance on token classification. Ripple CEO Brad Garlinghouse has praised the ruling, asserting that it will likely positively affect other digital tokens operating in the United States. This legal victory has triggered a surge in altcoin prices. XRP has experienced a short-term price decline after a dramatic surge. It is currently valued at $0.7285. XRP’s price surged by 54.02% during the past week. With 53 billion XRP in circulation, the digital asset’s market cap is $38.2 billion.XRP price | Source: CoinGeckoThe RSI value on the weekly timeframe is 83.84, signaling a strong bullish sentiment. Critical support lies at $0.57, while a decisive close above the resistance zone between $0.95 and $1 could pave the way for further gains.Ethereum (ETH) has encountered a minor pullback, with its price falling to $1,937. ETH has witnessed a 4.12% price increase over the past week, bringing investor confidence. ETH price | Source: CoinGeckoWith a market cap of $232.8 billion and 120 million coins in circulation, Ethereum continues solidifying its market position.The RSI on the weekly time frame reads 60.26, indicating a positive trend. ETH faces resistance at the $2,000 level, but a possible breakout from that level could push the price to $2,100 and $2,200.Accompanying Ripple’s triumph, on-chain analytics firm Glassnode has released new data. According to its metric, bitcoin continues to display robust fundamentals. The number of addresses holding 1+ BTC has surged to an all-time high of 1,009,670, surpassing the previous ATH set on July 14. Furthermore, the amount of hodled or lost BTC has reached a 5-year peak of 7,775,675.766 BTC, reflecting growing confidence among investors holding onto their coins for the long term. Ethereum, on the other hand, indicates positive sentiment as the amount of supply last active between one year to two years ago has hit a 1-month low of 19,992,944.430 ETH, suggesting reduced selling pressure and potential price support. These data show optimism in the crypto markets, as both bitcoin and ethereum demonstrate favorable on-chain metrics.Following Ripple’s triumph, the price of BTC rose above $31,800 before experiencing a slight pullback to $30,349.At the time of writing, bitcoin has witnessed a slight correction. However, with a market cap of $589.6 billion and a circulating supply of 19 million BTC, the king of cryptocurrencies remains a dominant force. The RSI on the weekly time frame indicates a score of 66.34, indicating a promising outlook. BTC price | Source: CoinGeckoKey support lies at $30,000, and a close below this level could lead to a potential price decline to $26,000. On the other hand, breaking the resistance between $31,000 and $31,500 could open the door for further advancements toward $40,000.This article was originally published on Crypto.news More

Following ARK Invest’s significant acquisition of Coinbase shares during the bear market, the investment firm has sold off a portion of its Coinbase holdings for the second time this week. Meanwhile, Wood’s firm is actively investing in Meta Platforms and Robinhood (NASDAQ:HOOD) Markets shares.Continue Reading on Coin Telegraph More

Kain Warwick, the founder, revealed intentions to introduce a new derivatives front-end called Infinex to the decentralized trading infrastructure of Synthetix. The upcoming exchange, Infinex, will cater to both novice and experienced traders by offering features similar to centralized exchanges (CEX), such as a non-custodial central limit order book.Continue Reading on Coin Telegraph More

Both borrowers, who can receive loans with flexible terms, and investors, who can earn competitive returns on their investments, can profit from this lending arrangement. This article will look at five decentralized P2P lending services that let lenders and borrowers become involved in this expanding market.Continue Reading on Coin Telegraph More