Bernstein suggests that it takes time for institutions to establish the necessary compliance framework to include Bitcoin ETF products. Continue Reading: Bitcoin ETF Report from Giant Investment Company Bernstein: 'The Pause in Bitcoin is Not Negative!' Here are the Details
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BlockDAG’s Strategic Enhancements Outshine THORChain And Jupiter, Drawing $34.7M In Presale
In the fast-paced world of cryptocurrency, where platforms continually adapt and innovate, BlockDAG has made significant strides with a $34.7 million presale, surpassing the developments from THORChain and the new initiatives by Jupiter. With its latest platform upgrades, BlockDAG has enhanced the user experience by integrating features like live transaction tracking, significantly increasing transparency and The post BlockDAG’s Strategic Enhancements Outshine THORChain And Jupiter, Drawing $34.7M In Presale appeared first on Times Tabloid - Latest Cryptocurrency News, Bitcoin (BTC) News, Ethereum (ETH) News, Shiba Inu (SHIB) News, Ripple's XRP News .
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Trader Loses Over $1 Million in Normie Memecoin Exploit
A trader recently lost over $1 million worth of digital assets due to the Normie memecoin exploit. The trader invested $1.16 million in 11.23 million Normie (NORMIE) memecoins, only to see his investment plummet by over 99% to a mere $150, as reported by Lookonchain on May 26: “He spent $1.16M to buy 11.23M $NORMIE at $0.1035 from Mar 25 to Apr 9 and has held it until now without selling it.” Normie, a Base-native memecoin, was hit by a smart contract exploit that slashed over $41.7 million from its market capitalization in just three hours. Lookonchain was the first
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XRP and Shiba Inu (SHIB) Top This Key Metric
A surge in trading activity for Shiba Inu (SHIB) and XRP has propelled them to the forefront of Bitrue’s most-traded futures contracts this week. This development reflects a growing interest in both cryptocurrencies within the digital asset market. SHIB and XRP have joined the ranks of established players like Bitcoin (BTC), Solana (SOL), and Ethereum The post XRP and Shiba Inu (SHIB) Top This Key Metric appeared first on Times Tabloid - Latest Cryptocurrency News, Bitcoin (BTC) News, Ethereum (ETH) News, Shiba Inu (SHIB) News, Ripple's XRP News .
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South African Central Bank Opts Against Publishing CBDC Study Findings
The South African Reserve Bank has reportedly decided not to unveil the findings of the initial phase of its central bank digital currency feasibility study. Instead, the central bank said it is currently focused on the second phase of the study and will release a report once it is satisfied with the progress made in
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Overpriced Pizza (OVERPIZZ) Will Rally 14,000% Before KuCoin Listing, While SHIB and DOGE Struggle
Overpriced Pizza (OVERPIZZ) could turn early investors into multi-millionaires if it becomes a mainstream coin, like Shiba Inu (SHIB) and Dogecoin (DOGE). Overpriced Pizza (OVERPIZZ), a new Solana memecoin that was launched this week, is poised to explode over 14,000% in price in the coming days. This is because OVERPIZZ has announced its first centralized exchange listing, which will be on KuCoin. This will give the Solana memecoin exposure to millions of additional investors, who will pour funds into the coin and drive its price up. Currently, Overpriced Pizza can only be purchased via Solana decentralized exchanges, like Jupiter and
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XRP Ledger Daily Payment Volume Soars 350%, Hitting 2 Million Transactions
As a recent Messari report outlined, the XRP Ledger (XRPL) showcased notable progress during the first quarter of 2024. The decentralized public blockchain, which facilitates the transfer of XRP, fiat currencies, and other digital assets, has demonstrated substantial activity. XRP Ledger Burn Rate Slows Amid Low Fees During Q1 2024, XRP, the native token of the XRPL, secured its position as the sixth largest cryptocurrency by market capitalization, reaching $34.1 billion (currently $29M). Despite a slight price decrease, XRP’s circulating market cap witnessed a 1.3% growth quarter-over-quarter (QoQ). Related Reading: Forget Fear, Embrace Greed? Bitcoin Soars As Sentiment Turns Red Hot The XRPL employs a deflationary mechanism by systematically burning transaction fees. This process exerts downward pressure on the total supply of XRP, which stands at 100 billion tokens. Since the inception of the XRP Ledger, approximately 12 million XRP have been burned. However, the low burn rate during Q1 can be attributed to the network’s relatively low transaction fees (less than $0.002 per transaction). Additionally, 1 billion XRP is released from escrow to Ripple each month, with any unutilized tokens being placed into new escrow contracts. This pattern will continue until the remaining approximately 45 billion XRP becomes liquid; at this point, the deflationary pressure from burned fees will be the primary variable affecting supply. While XRP’s price decreased marginally 0.1% QoQ, lagging behind the overall crypto market’s 63.0% increase, it rose 14.8% year over year (YoY). Inscription-Fueled Transactions Propel XRPL Daily Payments The report highlights that revenue in the XRPL is measured as total fees collected by the network, which are subsequently burned, contributing to the redistribution of wealth from transaction fee spenders to XRP holders. Network activity showed significant growth, with active addresses and transactions increasing by 37% and 113% QoQ, respectively. A substantial portion of transaction activity on the XRPL stemmed from inscriptions, a transaction type popularized in early 2023. Over 30 million transactions were sent to a single account by approximately 45,000 accounts engaged in inscription-related activities. According to Messari, inscriptions, facilitated by XRP Script, played a key role in driving the surge in daily payments, which soared 350% QoQ to 2 million transactions. Related Reading: $2.9 Billion In Mt. Gox Bitcoin On The Move For The First Time In 5 Years, Where Is It Headed? Lastly, the report notes that the XRP Ledger blockchain witnessed a net increase of 150,000 accounts, driving the total number of accounts up by 3.1% to 5.15 million in Q1. However, new addresses decreased 12.4% QoQ to 183,000, primarily due to the high number of addresses created in Q4, coinciding with the inception of inscription activity. As of press time, XRP is valued at $0.5279, down 2.5% in the past 24 hours and 3.5% in the past seven days, which is in line with the broader market trend. Featured image from Shutterstock, chart from TradingView.com
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