XRP Enters Key Accumulation Zone as Analysts Eye Move to $0.28

XRP’s price action has been rather lackluster as of late, with both buyers and sellers being unable to garner clear control over its near-term trend as it hovers within the mid-$0.20 region. This consolidation has largely come about as a result of that seen by Bitcoin, as the benchmark cryptocurrency has also been struggling to gain any clear momentum as its price oscillates between lows of $10,200 and highs of $11,200. Because XRP has been moving in close tandem with BTC and the rest of the market, where it trends…

Ripple’s New Non-Profit Bolsters XRP Prices

Key Takeaways The XRP Ledger Foundation was created to help accelerate the development and adoption of Ripple’s blockchain. The announcement was met with excitement within the XRP community, pushing prices to a critical resistance barrier. Turning the $0.24 hurdle into support would help XRP rise to its next resistance level at $0.27. Share this article Ripple launched a new non-profit organization tasked with achieving mass adoption for XRP Ledger. Investors welcomed the initiative by pushing XRP prices up by more than 9%. Encouraging Growth and Innovation While some of Ripple’s…

Square CEO Jack Dorsey says Bitcoin holds the keys to security

The Oslo Freedom Forum, an event-based entity under the wing of the Human Rights Foundation, or HRF, digitally hosted Square CEO Jack Dorsey for a quick interview on YouTube. During the engagement, the CEO spoke positively of crypto’s largest asset, Bitcoin (BTC).  “The whole spirit of Bitcoin, for instance, is to provide a trusted system in a distrusted environment, which is the internet,” Dorsey told host and HRF president Thor Halvorssen in an interview, published on Sept. 25.  Dorsey’s comment came in the midst of a discussion on security and…

Crypto ETP volumes fell in September as investors sought safer options

According to a recent report by CryptoCompare, a digital asset data resource, aggregate trading volumes exchange traded products (ETP) have plummeted drastically in the month of September.  Aggregate ETP Volume ($millions) Source: CryptoCompare Overall daily cryptorrency ETP volumes plunged by roughly 74%, dropping from $186.5 million exchanged in mid-August to an average of $48 million in mid-September.  Grayscale volumes take a hit Grayscale’s Bitcoin Trust product represents the overwhelming amount of trading activity in cryptocurrency ETPs, and has therefore taken the biggest hit when it comes to trading volumes.  Grayscale’s…

This non-Ethereum based DeFi project has $180M staked so far

Wing, a lending protocol built on the Ontology blockchain, currently has $180 million in crypto assets staked on its platform — not a meager amount, even by Ethereum (ETH) standards.  Eric Pinos, Ontology’s ecosystem lead for the Americas and an advisor to Wing, told Cointelegraph that he believes two features make this DeFi project unique: cross-chain interoperability with Ethereum and the fact that lending is credit-based, allowing for loans to be under-collateralized. The system’s OScore analyzes each user’s on-chain behavior to generate a credit score. This then determines the amount of…

Chainlink 30% Rally Closes Record “Best” 2020 Daily Performance

Chainlink may be trading at half of its all-time high, but it just broke a new record – this time for its best single-day performance in all of 2020. With such an outstanding rebound from local lows making the early days of the rally look weak by comparison, is this a sign that Chainlink is ready to set its sights back on new price records next? Chainlink Sets Record For Best Intraday Performance In 2020 Chainlink has once again been the best performing crypto asset across the market for the…

Transformations in crypto exchanges and traditional institutions, Sept. 18-25

Every Friday, Law Decoded delivers analysis on the week’s critical stories in the realms of policy, regulation and law. Editor’s note The final scene of Animal Farm, Orwell’s classic fable of revolution gone wrong and a staple of secondary-school reading lists throughout the English-speaking world, features a card game. The pigs who run the farm with an iron hoof host the humans who have gone from enemies of the revolution to drinking buddies of the revolution’s leaders. The book ends with accusations of cheating and a metamorphosis realized. The pigs…

NFTs paint bright future for artists, blockchain tech

On Sept. 23, auction-house giant Christie’s announced plans to sell its first nonfungible token, or NFT, at an auction. This was just one week after the record-setting $100,000 sale at auction of a digital art piece that also used a blockchain-based token to vest the collector’s new ownership rights. Meanwhile, Anthony Pompliano, Morgan Creek Digital co-founder and partner, wrote on Sept. 21: “I personally believe that the digital art market cap will grow to become larger than the physical art market cap. This may sound ridiculous today.”  Clearly, the digital…

Wish you bought Litecoin and other top alts at mid-2017 prices? Here’s your second chance

Several crypto assets are currently priced near their mid-2017 valuations, potentially offering a second chance to latecomers. One major caveat, however — these assets may never reach their highs again, or even rise at all from here. Buyers beware and do your own research.  Litecoin (LTC) sat at a price of around $33 on June 11, 2017, according to a historical snapshot from CoinMarketCap. Its current press time price trades slightly higher, at around $46 — a dramatic difference from its all-time highs near $365.  Ethereum (ETH) held a price of…