https://zycrypto.com/shiba-inu-primed-for-massive-eruption-to-0-001-shib-price-amid-very-bullish-shibarium-momentum/

The crypto community’s favourite meme coin, Shiba Inu, is back in the news, but this time, it’s for reasons other than its meme status. The innovative layer-2 blockchain solution, Shibarium, is getting a lot of attention lately, thanks to changes in the Shiba Inu ecosystem.

The Thunderous Ascent of Shibarium

Because of this, Shibariumscan, a reliable data source, has reported a staggering increase in the number of new contracts being created on the Shibarium network daily.

In addition, Shibarium went live for the first time formally at the end of August, and ever since then, it has continually broken records and established new benchmarks. The robustness and scalability of the network are demonstrated by the fact that the total number of blocks on the network has surpassed 1.5 million to a significant degree.

At the same time, wallet addresses are getting closer and closer to the 2 million mark, indicating rising adoption and participation in the Shiba Inu ecosystem.

Wen $0.001 SHIB Price?

There are a lot of moving parts when it comes to the cryptocurrency market, consumer and business adoption of Shiba Inu (SHIB), and the growth of the Shiba Inu ecosystem; all of these things affect the likelihood of Shiba Inu (SHIB) hitting the coveted $0.001 price.

What would cause SHIB to reach $0.001?

Factors that could lead to SHIB reaching $0.001:

• Expanded adoption: If more businesses and consumers adopt SHIB, it could increase demand for the token and drive up the price.
• Burning of tokens: The Shiba Inu community is currently burning tokens, which reduces the circulating supply and could also help to increase the price.
• Ecosystem Development: The development of new features and applications for SHIB could make it more useful and valuable, which could also increase the price.

Reducing the overall amount of SHIB tokens has been an active part of Shiba Inu’s token-burning policy, which has increased their scarcity and potential worth. There was an unusual increase in the rate of token burning, which the project noticed after a while; over 200 million tokens were burned. One typical tactic in the cryptocurrency market is token burning, which makes tokens seem more valuable because of their scarcity.

In conclusion, SHIB seems to be at a fascinating crossroads in its future, with Shiba Inu’s Shibarium setting new records and the token-burning program intensifying. These new developments have put Shiba Inu in the limelight, making it a compelling player in the cryptocurrency landscape, even though market instability is still a constant.

At this time, everyone is watching SHIB to see if these milestones will start the bull run all the way to the 0.001 price mark.

https://zycrypto.com/ripples-xrp-signaling-explosive-price-moves-as-whales-boost-holdings-to-over-5-billion/

In the last ten days, the price of Ripple’s XRP has experienced an 18% decline, bringing uncertainty to the cryptocurrency market. Despite this setback, a compelling narrative unfolds as whale transactions and substantial holdings of XRP continue to surge, hinting at a potential turnaround for the embattled digital asset.

This recent price dip marked a challenging period for Ripple’s native cryptocurrency, XRP. The digital asset struggled against broader market headwinds and faced intensified selling pressure, leading to a significant downturn in its value. The 18% plunge within a relatively short span stirred concerns among investors and traders, fostering a climate of caution and apprehension within the crypto community.

However, beneath the surface of this downward spiral, a contrasting narrative emerged, offering a glimmer of hope for XRP enthusiasts. Notably, there has been a discernible escalation in large-scale whale transactions involving XRP, a trend that has caught the attention of industry analysts and market observers. These transactions, often involving sizable amounts of the crypto asset, have been on the rise despite the recent price volatility, indicating a surge in activity from major players within the XRP ecosystem.

XRP Whales Send Mixed Signals

What makes this surge in whale transactions particularly intriguing is the concurrent increase in the accumulation of XRP by these major holders. Despite the prevailing market jitters and the significant price drop, large XRP holders have continued to amass the asset, suggesting a divergence from short-term market sentiments. This accumulation signals a palpable level of confidence and conviction in XRP’s long-term prospects among these notable stakeholders.

The resurgence of interest from these major players has sparked discussions and speculations within the cryptocurrency space, prompting debates about the potential motives behind these significant transactions amid the backdrop of the recent price decline. One prevalent hypothesis centres on the idea that the growing accumulation and heightened transaction activity from whale accounts might portend a forthcoming price rebound for XRP.

Historically, such patterns of accumulation and heightened whale activity have often foreshadowed notable market turnarounds for various digital assets. For XRP, the evident uptick in whale transactions and the ongoing accumulation are contributing factors that suggest a potential shift in market dynamics, fueling optimism among segments of the cryptocurrency community.

It is important to underscore the context within which these developments are unfolding. Ripple, the company behind XRP, has been engaged in an ongoing legal battle with the U.S. Securities and Exchange Commission (SEC) regarding the classification of XRP as a security. This protracted legal dispute has cast a shadow over the digital asset, influencing its price performance and market sentiment.

Within this legal context, the recent surge in whale transactions and accumulation of XRP assumes added significance, as it represents a testament to the underlying resilience and enduring appeal of XRP despite the prevailing regulatory uncertainties. The sustained interest from major stakeholders in amassing XRP, coupled with the heightened whale activity, underscores the enduring faith in the digital asset’s potential and the anticipation of a renewed upward trajectory once regulatory clouds dissipate.

https://zycrypto.com/xrp-ether-solana-cardano-shiba-inu-brace-for-1-trillion-bull-shock-as-spot-bitcoin-etf-comes-nigh/

The prospect of spot Bitcoin ETFs has long been a dream for investors and traders alike. Amidst this anticipation, recent reports from esteemed data analytics platforms have set the crypto community abuzz, predicting a staggering $1 trillion market cap for crypto majors like Bitcoin, XRP, Ether, Solana, Cardano, and Shiba Inu if spot ETFs receive the green light.

A report, crafted by the experts at CryptoQuant delves into the historical context that has shaped Bitcoin’s market trajectory. The first wave of institutional adoption witnessed during Bitcoin’s historic bull run in 2021 saw institutions adding BTC to their balance sheets. According to CryptoQuant researchers, the next significant wave of adoption is already underway, marked by major Asset Under Management [AUM] entities making Bitcoin accessible to their clients through spot ETFs.

The only hurdle on this promising path seems to be approval from the US Securities and Exchange Commission [SEC], an obstacle that has kept the crypto community on edge. However, recent favourable court rulings in the GBTC and XRP lawsuits against the regulator have injected a newfound optimism into the market.

CryptoQuant’s experts have brought forth a compelling analysis that could fuel the already bullish sentiment in the crypto sphere. Historically, during bull markets, Bitcoin’s market cap has risen at a rate of 3–5 times higher than its realized cap. According to the report, for every $1 that pours into the Bitcoin network, its market cap could potentially surge by $3 to $5. If this pattern holds true and spot ETFs secure approval, Bitcoin’s price could skyrocket, reaching astronomical figures ranging between $50,000 and $73,000.

Recall how a false rumour of a spot Bitcoin ETF approval sent the crypto community to a tizzy as BTC soared. Although this incident serves as a cautionary tale, if the predicted scenario unfolds and spot ETFs are approved, the entire crypto landscape could enter a prolonged period of bullish momentum, where the bears might find it challenging to resist the rising tide.

https://zycrypto.com/bitcoin-halving-approaches-will-the-crypto-giant-experience-a-historical-retracement-to-20000/

Bitcoin, the world’s leading cryptocurrency, is currently approaching a significant event known as the Bitcoin Halving. This event, which occurs approximately every four years, is highly anticipated by the crypto community due to its potential impact on Bitcoin’s price and overall market dynamics. With the halving only about 164 days away, many investors and enthusiasts are closely monitoring the market for any signs of a retracement.

Looking back at previous halvings, it becomes evident that Bitcoin has experienced retracements during this period. According to a tweet by Rekt Capital, 2015/2016, Bitcoin retraced by approximately 25%, while in 2019, it witnessed a more substantial retracement of around 38%. These retracements are not uncommon and have historically been followed by significant price movements.

Considering this historical data, it is reasonable to assume that a retracement may occur, leading to the upcoming halving. While past performance does not guarantee future results, it provides valuable insights into potential market behaviour. Investors should remain cautious and prepared for a possible dip in Bitcoin’s price.

If a retracement were to occur, analysts speculate that it could reach around 30% from current prices. This would result in Bitcoin dropping to approximately $20,000. However, it is essential to note that these predictions are speculative and should be taken with a grain of salt.

Despite the possibility of a retracement, many experts and enthusiasts remain optimistic about Bitcoin’s long-term prospects. The halving event is expected to reduce the rate at which new Bitcoins are created, effectively decreasing the supply. This reduction in supply, coupled with increasing demand, could potentially drive the price of Bitcoin higher in the long run.

Furthermore, Bitcoin’s status as a safe-haven asset and a hedge against traditional financial markets has gained significant attention in recent times. As geopolitical tensions and economic uncertainties persist globally, more individuals and institutions are turning to Bitcoin as a store of value and an alternative investment.

All in all, the long-term outlook for Bitcoin remains positive, with the halving event expected to reduce supply and potentially drive prices higher. As always, it is advisable to conduct thorough research and consult with financial experts before making any investment decisions in the volatile cryptocurrency market.

https://zycrypto.com/google-bard-ai-reveals-why-xrp-will-break-all-time-high-price-first-before-shiba-inu-and-cardano/

The cryptocurrency market is a volatile and unpredictable space where fortunes can be made or lost in the blink of an eye. However, Bard, an AI chatbot by Google, has made an attempt to respond to the prompt: “Which cryptocurrency will break its all-time high first?”. According to the answer generated by Bard, XRP has the best chance of achieving this milestone before Shiba Inu and Cardano.

Along with convincing factors of XRP’s success, the chatbots mention: “It is the fourth-largest cryptocurrency by market capitalization, which gives it a high degree of visibility and liquidity”. Indeed, as a prominent cryptocurrency by market cap, XRP enjoys a high level of visibility and liquidity, which implies that there is a large pool of investors and traders who are actively buying and selling XRP, which can help drive up its price.

Another factor working in XRP’s favour is its strong use case as a cross-border payment solution. As Bard says, this has resulted in “it being used by a number of major financial institutions”, making it attractive for “a large and active community of supporters”. Banks and remittance services are already employing XRP to facilitate fast and low-cost international transactions. This adoption by established players in the financial industry gives XRP a solid foundation and increases its chances of breaking its all-time high price.

Furthermore, XRP “has a large and active community of supporters”. This community is crucial in spreading awareness about the crypto asset and advocating its adoption. Their enthusiasm and dedication can create positive sentiment around XRP, which can translate into increased demand and ultimately drive up its price.

On the other hand, Bard stresses that “Cardano and Shiba Inu are also promising cryptocurrencies with strong fundamentals, but they face some challenges that could delay their breakouts”. Cardano is still in the development phase, and its ecosystem is not as mature as XRP’s. While Cardano has ambitious plans and a strong team behind it, it may take some time to reach its full potential.

Shiba Inu, on the other hand, is a meme coin. Meme coins are known for their volatility and susceptibility to speculation and hype. While Shiba Inu has gained significant attention and a dedicated community, its price movements are often driven by short-term factors rather than long-term fundamentals.

While it remains impossible to predict the future with certainty, Bard believes that “XRP is the most likely of these three cryptocurrencies to break its all-time high first” while nonetheless highlighting that “there is no guarantee of what the future holds”. But, based on the factors above, market capitalization, strong use case, and active community give it an edge over Shiba Inu and Cardano. However, Bard reminds us of the importance of keeping in mind that investing in cryptocurrencies carries risks, and it is always advisable to do thorough research and seek professional advice before making any investment decisions.

https://zycrypto.com/the-mystery-of-satoshi-nakamoto-explore-the-enigmatic-creator-of-bitcoin/

In the world of cryptocurrency, only a few names hold as much intrigue and mystique as Satoshi Nakamoto. If you are enjoying the benefits of the crypto Bitcoin, then this is the person or persons to thank.

We bet you are a bit confused there, and rightfully so. To this day, no one can really claim to know the identity behind Bitcoin. It remains shrouded in secrecy, raising questions that continue to captivate the minds of enthusiasts, researchers, and the general public alike. 

Here are five lesser-known facts about Satoshi Nakamoto that add to the intrigue:

He’s fluent in Japanese

It is uncertain whether Satoshi Nakamoto, the anonymous originator of Bitcoin, possesses proficiency in the Japanese language. The selection of the moniker “Satoshi Nakamoto” has prompted conjecture regarding potential ties to Japan, as both “Satoshi” and “Nakamoto” are widespread Japanese names. 

Yet, apart from this linguistic association, there exists no substantial proof to affirm or disprove Nakamoto’s aptitude in Japanese or any other languages.

Email conversations with Hal Finney

Satoshi Nakamoto, the anonymous architect behind Bitcoin, was engaged in email correspondence with Hal Finney, a renowned cryptographer and one of the initial contributors to the Bitcoin initiative. These email dialogues offer valuable insights into the nascent stages of Bitcoin’s development and Nakamoto’s interactions within the cryptographic community.

Hal Finney, who commanded respect in cryptographic circles, held dual roles as both a revered cryptographer and a proficient programmer. He stood among the pioneers who downloaded and operated the Bitcoin software early on, playing an indispensable role in collaborating during the project’s formative phase.

The email exchanges shared between Nakamoto and Finney primarily revolved around in-depth technical conversations concerning the Bitcoin protocol. Their discussions spanned a spectrum of subjects, including software intricacies, design considerations, potential enhancements, and strategies for mitigating potential vulnerabilities.

He is meticulous at coding 

Nakamoto exhibited coding practices marked by precision and thoroughness. Scrutinizing the original Bitcoin source code unveils an elevated level of intricacy and deliberate design decisions. Nakamoto’s coding style implies a profound grasp of cryptography and computer science.

Early discussions were in English and distributed across time zones

Although Nakamoto’s identity remains veiled, their communication patterns offer hints. Examination of forums and mailing lists utilized for Bitcoin discourse reveals Nakamoto’s involvement with the global community, spanning various time zones. This suggests either a flexible personal schedule or the potential presence of a geographically dispersed team contributing to the project.

He has always been anonymous

Satoshi Nakamoto preserved their anonymity right from the inception of Bitcoin. From their initial contributions on cryptography forums to the unveiling of the Bitcoin whitepaper in 2008, Nakamoto consistently utilized a pseudonym. 

This early determination to remain incognito implies a deliberate intention to dissociate their actual identity from their involvement in Bitcoin’s development.

However, despite these intriguing initial insights, the genuine identity of Satoshi Nakamoto remains an enduring enigma. The choice to withdraw from active engagement in the project, the decision to uphold anonymity, and the absence of confirmable personal particulars collectively contribute to the air of mystery encircling the originator of Bitcoin.

As the landscape of cryptocurrency evolves, the legacy of Satoshi Nakamoto’s creation perseveres, serving as a wellspring of inspiration for innovation and kindling curiosity across the global community.

Disappearance and legacy

In 2010, Nakamoto slowly receded from public view, halting interactions with the community. Despite Bitcoin’s continued expansion and increasing acceptance, Nakamoto’s withdrawal further intensified the puzzle encompassing their identity.

However, despite this absence, Nakamoto’s imprint as the architect of the inaugural cryptocurrency remains an integral facet of the digital era’s narrative.

Conspiracy theories and skepticism

Over time, an array of conspiracy theories has surfaced concerning the true identity of Satoshi Nakamoto. Certain theories posit that Nakamoto’s anonymity serves as a shield against potential legal or financial consequences, whereas others advance the notion that intelligence agencies or even multinational enterprises played a role in the genesis of Bitcoin.

Conclusion

The enigmatic puzzle of Satoshi Nakamoto persists as a mesmerizing riddle, compelling numerous individuals to hunt for hints, dissect linguistic nuances, and dissect the initial phases of Bitcoin’s evolution. Despite the persona concealed by the pseudonym, Nakamoto’s invention has permanently reshaped our perspectives on currency, technology, and the possibilities of decentralized innovation. 

In tandem with the evolution of the cryptocurrency realm, the enigmatic legacy of Satoshi Nakamoto endures, kindling ongoing dialogues and igniting novel pathways of exploration within the domain of digital currencies and blockchain technology.

https://zycrypto.com/bitcoin-bulls-quietly-accumulate-btc-despite-market-turbulence/

In the ever-evolving world of cryptocurrencies, Bitcoin has always emerged as the undisputed leader. Despite the significant drop in Bitcoin’s value, with prices hitting as low as $25,000 last quarter, influential players have continued to accumulate the digital asset. Large Bitcoin holders have been quietly expressing their bullish sentiment in the market.

Data from Santiment reveals that wallets holding at least 0.1% of Bitcoin’s total supply experienced a single-day inflow of $600 million. Moreover, data from IntoTheBlock revealed that three more spikes of $400 million or more followed. Interestingly, these spikes occurred when exchanges saw outflows, indicating that these acquisitions were driven by organic buyers rather than speculative trading on exchanges.

The mid to large-sized wallets have been particularly active in accumulating Bitcoin, adding an impressive 71,155 BTC (equivalent to $1.95 billion) in just the past six weeks. This brings their combined holdings to approximately 90,000 BTC, which is only 0.59% away from their peak of 15.29 million held in November 2021.

The magnitude of these acquisitions is worth noting. With nearly $2 billion worth of Bitcoin added to their portfolios in such a short period, it is clear that these players are not just testing the waters but clearly diving into the market with confidence.

Institutional Investors Are Showing Confidence in Bitcoin as Asset Class

This trend of funds flowing into mid to large-sized wallets also signals a shift in the investment landscape surrounding Bitcoin. While retail investors have long been active participants in the cryptocurrency market, the growing interest from institutional investors is a clear indication that Bitcoin is gaining recognition as a legitimate asset class.

Institutional investors, known for their cautious approach to new and emerging markets, are increasingly recognizing the value of Bitcoin as a store of value and a hedge against inflation. Their participation not only adds credibility to Bitcoin but also contributes to its overall market stability.

Looking ahead to the next quarter, it will be fascinating to observe the actions of these mid to large-sized Bitcoin holders. Will they continue their aggressive accumulation strategy, or will they adjust their approach based on market conditions? Only time will tell.

One thing is certain, however: these influential players have unwavering faith in the future value appreciation of Bitcoin. Their relentless accumulation amidst market turbulence speaks volumes about their confidence in the digital asset’s long-term prospects.

https://zycrypto.com/unveiling-cryptocurrencies-set-to-revolutionize-the-market-top-10-coins-by-development-activity/

In the ever-evolving world of cryptocurrencies, the development activity of various projects is a key indicator of their potential for success. Recently, Santiment compiled a list of the top coins by development activity based on notable GitHub commits over the past 30 days. Let’s take a closer look at the top 10 coins on this list and see what makes them stand out.

At the top of the list is Cardano (ADA), a project that aims to provide a secure and scalable platform for the development of decentralized applications and smart contracts. With a strong focus on research and academic rigor, Cardano has been making significant progress in its development, attracting the attention of both developers and investors.

Tied for second place are Polkadot (DOT) and Kusama (KSM), two projects that are part of the same ecosystem. Polkadot aims to enable interoperability between different blockchains, while Kusama serves as a testing ground for new features before they are deployed on Polkadot. Both projects have seen a surge in development activity as they continue to gain traction in the crypto community.

In fourth place is Hedera Hashgraph (HBAR), a public distributed ledger technology that aims to provide fast, secure, and fair consensus. With its unique consensus algorithm and governance model, Hedera has been attracting attention from both developers and institutional investors.

Vega Protocol (VEGA) takes the fifth spot on the list. Vega is a decentralized trading protocol that aims to bring transparency and efficiency to financial markets. With its focus on decentralization and community governance, Vega has been gaining momentum in the crypto space.

Chainlink (LINK) comes in at sixth place. Chainlink is a decentralized oracle network that enables smart contracts to securely interact with real-world data. With its growing list of partnerships and integrations, Chainlink has become a crucial component of the decentralized finance (DeFi) ecosystem.

EthStatus (SNT) takes the seventh spot. EthStatus is an open-source messaging platform for the Ethereum community. With its focus on fostering communication and collaboration within the Ethereum ecosystem, EthStatus has been a valuable resource for developers and enthusiasts alike.

DFINITY (ICP) secures the eighth position. DFINITY aims to build a decentralized internet computer that can host a wide range of applications. With its innovative approach to scalability and governance, DFINITY has been generating significant interest in the crypto community.

Cosmos (ATOM) comes in at ninth place. Cosmos is a network of interoperable blockchains that aims to enable seamless communication between different blockchain ecosystems. With its focus on interoperability and scalability, Cosmos has been attracting developers and projects looking to bridge different blockchain networks.

Last but not least, Ethereum (ETH) takes the tenth spot. As one of the largest and most well-known cryptocurrencies, Ethereum continues to be a hotbed of development activity. With the Ethereum 2.0 upgrade, developers are working tirelessly to improve the scalability and efficiency of the network.

Overall, the top coins by development activity showcase the diversity and innovation within the crypto space. As developers continue to push the boundaries of what is possible with blockchain technology, these projects are poised to make a significant impact in the future of finance and beyond.

https://zycrypto.com/xrp-may-have-just-become-one-of-the-biggest-threats-to-big-banks-following-ripples-historic-sec-win/

Historically, the banking industry’s dominance over global transactions has been unassailable. However, the emergence of blockchain technology and the potential harboured by cryptocurrencies like XRP have set in motion a seismic shift that is upending this age-old paradigm. At the heart of this transformation lies a vital question: Can XRP genuinely disrupt the traditional banking giants and assert itself as a transformative force in global payments?

Potential of XRP

XRP, known for its efficient and swift cross-border transaction capabilities, is positioning itself as a formidable competitor to the established order. The technology underlying XRP facilitates secure, borderless transfers that transcend the confines of traditional banking systems. This inherent flexibility disrupts the conventional banking model, eliminating intermediaries and reducing the friction plaguing global payments.

The value proposition of XRP’s technology lies in its capacity to bridge gaps across financial ecosystems. By leveraging the efficiency of blockchain and the rapidity of cryptocurrency transactions, XRP provides an avenue for real-time, cost-effective cross-border payments that defy the sluggish pace and steep fees of conventional banking channels.

So what’s next?

This transition is not without its challenges. Regulatory landscapes, risk mitigation, and the inevitable clash between established financial institutions and emergent technologies have created a complex backdrop. Yet, the undeniable momentum of XRP showcases a demand for alternatives to the conventional banking system’s shortcomings.

Key players within the traditional financial sector are taking notice. Banks are being compelled to reevaluate their strategies and technological infrastructure due to the threat posed by cryptocurrencies. Some even embrace the innovation XRP represents by integrating its capabilities into their systems. This convergence of legacy institutions and revolutionary technology is indicative of the paradigm shift underway.

However, it’s crucial to acknowledge that the transformation of global payments is a nuanced journey that navigates through regulatory hurdles and economic intricacies. While XRP offers a glimpse into the future of financial transactions, the path to full-scale adoption will be shaped by the interplay between innovation and regulation.

https://zycrypto.com/shiba-inus-lead-dev-unveils-ambitious-vision-amid-shibarium-debut-what-to-expect-from-shib/

At the 5th Blockchain Futurist Conference held in Toronto, Shytoshi Kusama, the pseudonymous lead developer of the Shiba Ecosystem, delivered a rousing keynote speech titled “Dear Humanity.” The event, which took place from August 15 to 16, saw Kusama addressing the crowd about his bold vision for the cryptocurrency industry and the world.

Kusama’s speech began by acknowledging the pressing need for change, underscoring the challenges humanity faces due to man-made issues like inflation, rumours of war, and natural disasters. He expressed discontent with the concentration of power among a select few who possess secret knowledge, suggesting that harnessing the collective power of the masses could lead to a brighter future. Central to Kusama’s vision is the Shiba Inu community, affectionately known as the Shib Army. He emphasized that the strength of this community sets Shiba Inu apart, empowering it to enact lasting change on the global stage.

A Memecoin at The Edge of Tomorrow

Challenging the audience to consider the potential impact of a simple meme, Kusama posed the question: Can a joke born as an experiment create a lasting transformation on a worldwide scale? He assured the audience that Shiba Ecosystem would offer cutting-edge technology like other blockchain projects, but the Shib Army’s commitment to a decentralized future is the true differentiator.

Despite criticism from detractors who spread fears, uncertainties, and doubts (FUD) about the Shiba Ecosystem, Kusama remained steadfast in his vision. While the lead developer refrained from making any Shibarium-related announcements during his brief five-minute speech, he indicated that an announcement might be imminent. Responding to queries about Shibarium’s launch date, Kusama cryptically stated, “GOOD question! Let’s see what we say about that tomorrow,” leaving the audience in anticipation.

Shibarium, the eagerly anticipated layer-2 scalability solution within the Shiba Ecosystem, took center stage in discussions at the conference.

The Blockchain Futurist Conference, known for its commitment to pushing the boundaries of technology, partnered with Bad Idea AI to ensure that Kusama’s keynote speech could be delivered without compromising his pseudonymous identity. The event showcased the convergence of cutting-edge technology and visionary ideas, setting the stage for potential transformative developments within the cryptocurrency space.

https://zycrypto.com/is-bitcoin-eyeing-new-highs-by-holding-the-30-5k-zone/

After months of consolidation and uncertainty, there is light at the end of the tunnel for Bitcoin (BTC) based on the upward momentum being witnessed. 

As a result, optimism is engulfing the BTC market as bullish calls continue making airwaves. For instance, market analyst Michael van de Poppe took to Twitter and noted that new highs would be realized if the leading cryptocurrency continued trading above the $30,500 zone.

According to the analyst, new highs will be realized if Bitcoin breaks the resistance level at $31K. BTC was trading at $29,900 at the time of writing.

The uptrend propelled confidence in the market, as the Bitcoin: Net Unrealized Profit/Loss (NUPL) indicator showcased.

Ali, a crypto trader, acknowledged, “Market sentiment surrounding BTC has rebounded from a brief moment of “fear” and is now back to optimism.”

Whenever fear penetrates the market, an asset trades below its intrinsic value because investors usually shift their holdings to safe havens like gold. Therefore, the renewed optimism in the Bitcoin market is a welcome call because it’s a bullish sign.

Bitcoin Experiences a Falling Wedge Breakout

After trying to break out from a falling wedge pattern formed on the weekly chart in vain, Bitcoin recently realized this objective, as acknowledged by crypto analysts under the pseudonym Rekt Capital.

The usefulness of the falling wedge pattern is that it illustrates bullish momentum in the future as the trend direction changes. It is usually formed when the price continuously bounces between converging or downward-sloping trendlines.

Therefore, Bitcoin seems on the right footing as bullish signs continue to pop up.

Meanwhile, John E Deaton, a lawyer representing XRP holders, recently pointed out that Bitcoin could experience a tenfold increase and hit the $300,000 mark. This was based on a question he posed to his more than 276K followers on Twitter. 

https://zycrypto.com/bitcoin-sharks-and-whales-arent-showing-any-signs-of-slowing-down-btc-accumulation-heres-why/

In the realm of cryptocurrencies, Bitcoin has long held the throne as the pioneering digital asset, capturing the attention of investors and enthusiasts worldwide. While recent market conditions have left some longing for excitement, the relentless pursuits of Bitcoin’s formidable players—sharks and whales—continue unabated.

Despite prices languishing within the $30,000 to $31,000 range, a fascinating trend has emerged: according to the data from Santiment, from June 17th onwards, addresses holding 10 to 10,000 BTC have collectively acquired an impressive 71,000 additional coins, amassing a staggering value of $2.15 billion. This article explores the actions of these influential entities and the potential implications for the market.

Bitcoin Sharks and Whales: The Dominant Forces of Accumulation

Within the complex ecosystem of Bitcoin, whales represent the largest and most influential players. With their immense holdings of Bitcoin, often ranging in the thousands or tens of thousands, they possess the power to steer market sentiment with their strategic movements. In recent weeks, these whales have showcased an unwavering appetite for accumulation, defying the perceived monotony in the market. Their substantial purchases suggest a steadfast belief in Bitcoin’s long-term prospects and resilience, irrespective of short-term price fluctuations.

Agile and opportunistic sharks complement the whales. These entities thrive on exploiting market volatility and capitalizing on price fluctuations. Although their holdings may not rival the whales, their impact on market dynamics should not be underestimated. Known for their ability to make swift, calculated trades, these sharks possess a keen sense of timing, allowing them to seize opportunities within the $30,000 to $31,000 price range. Their actions, alongside those of the whales, contribute to the narrative that Bitcoin’s elite players remain undeterred by the lack of excitement.

Market Implications: Concentration and Potential Volatility

These prominent players’ consistent accumulation of Bitcoin carries significant implications for the broader cryptocurrency market. As whales and sharks accumulate additional coins, the ecosystem’s wealth concentration intensifies. This concentration could amplify market volatility, as their actions have the potential to trigger cascading effects throughout the market. However, it is essential to consider alternative perspectives: their accumulation may reflect a belief in an imminent price surge or serve as a defensive strategy against market downturns. Ultimately, the motivations of these influential actors remain subject to interpretation and conjecture.

While market observers may perceive Bitcoin’s current price range as monotonous, the actions of its whales and sharks suggest a different narrative altogether. Their strategic acquisitions reflect a profound belief in Bitcoin’s long-term potential and contribute to the ongoing narrative surrounding the digital asset’s resilience. As the market continues to evolve, the activities of these dominant players will undoubtedly shape the future trajectory of Bitcoin, leaving investors and enthusiasts eagerly awaiting their next move.

https://zycrypto.com/binance-announces-full-integration-of-bitcoin-on-the-lightning-network/

Cryptocurrency exchange Binance announced today, June 17th, the integration of the Bitcoin Lightning Network, and it is now open to customers to use the Lightning Network to deposit and withdraw Bitcoin (BTC).

The Lightning Network is a second-layer expansion solution built on the Bitcoin blockchain. This network enables users to establish off-chain transaction pipelines, ensuring faster, more affordable, and scalable transactions while mitigating congestion issues on the cryptocurrency blockchain.

Bitcoin Explosion Spurs Binance to Implement Lightning Network

In May, the Binance exchange confirmed that it would bring Lightning Network support after the exchange could not offer Bitcoin withdrawals smoothly even with high gas fees.

Before Binance, only a certain number of cryptocurrency exchanges (such as Bitfinex, River Financial, OKX, Kraken, CoinCorner, etc.) offered Bitcoin withdrawals via the Lightning Network, but now Binance is on this list.

In April of this year, the U.S. public cryptocurrency exchange also confirmed that it will bring customers Bitcoin Lightning Network withdrawal support.

Binance and Regulatory Hurdles

Over the years, Binance has ranked among the top cryptocurrency exchanges for its highly secure and responsive services.

Despite the better service, the exchange faces a formidable legal hurdle in the U.S. due to regulatory action by two of the country’s top financial regulators against its cryptocurrency services.

Currently, the exchange is focused on making some major changes to its services to be able to easily comply with the new rules and regulations set out under the framework of the European Union (EU) Market in Cryptocurrency Assets (MiCA), which will at some stage in the coming years take effect.

https://zycrypto.com/rocket-fuel-for-10-xrp-price-looks-nigh-based-on-these-key-factors-amid-ripple-win-in-sec-fight/

In the past seven days, the price of XRP has experienced a remarkable surge, capturing the attention of traders and crypto enthusiasts alike. Notably, the interest in XRP has soared, with a 122% increase in Google searches for ‘Ripple news.’

This surge in interest suggests the potential for significant market activity in the coming months. Thomas Kralow, a crypto hedge fund manager, predicts that XRP could achieve an unprecedented milestone, reaching a record-breaking price range of $10 to $30 per coin in the next 3-4 months.

Ripple’s IPO and its Potential Impact

One of the significant factors driving the excitement around XRP is the speculation surrounding Ripple’s initial public offering (IPO).

As Ripple, the company behind XRP, prepares to go public; there is immense speculation regarding the potential impact of this groundbreaking event on the crypto industry.

Many believe Ripple’s IPO could lead to a nearly half-a-trillion dollars valuation, significantly increasing XRP’s market capitalization and bolstering its price.

XRP Pops In Ballistic Rally As Judge Finally Rules It Isn’t A Security

Another factor fueling optimism is the latest Ripple victory in court against the U.S. Securities and Exchange Commission (SEC).

U.S. District Judge Analisa Torres granted summary judgment in favor of Ripple, indicating that the XRP token is not a security.

The anticipation of a positive outcome has always spurred speculative buying, with experts believing that things going in Ripple’s favor would propel XRP from $2 to $10.

The Price Target for XRP

Considering these factors, many experts and market observers are setting ambitious price targets for XRP. Thomas Kralow, with his extensive experience in the crypto industry, believes that XRP has the potential to reach a minimum price of $10 per coin and, optimistically, even achieve a target of $30. The combination of Ripple’s IPO, the anticipation surrounding the lawsuit’s outcome, and the increased public interest in XRP could poise the cryptocurrency for substantial growth in the coming months.

As XRP experiences a notable price surge of over 80%, the cryptocurrency community’s interest in this digital asset continues to grow. With experts like Thomas Kralow predicting price targets ranging from $10 to $30, it is clear that the cryptocurrency has the potential to achieve new heights.

However, it is essential to consider the factors influencing XRP’s trajectory, including the outcome of Ripple’s IPO and the next phase of the SEC case.

https://zycrypto.com/xrp-non-security-verdict-triggers-astounding-wave-but-theres-more-to-expect-next-from-ripple-and-sec/

In a major development, the judge presiding over Ripple’s case declared that XRP does not fall within the definition of a security. According to the judge, Ripple’s sale of XRP does not constitute an investment contract. This is a win for Ripple. The judge’s ruling claimed that XRP did not meet the criteria for being a security. This decision also extends to institutional sales of XRP, which are also deemed not to be securities.

XRP Price Almost Doubled

According to Santiment, a market intelligence platform, XRP price skyrocketed 87% within 3 hours. It currently ranks No. 5 on CoinMarketCap, with an instant market capitalization of $36 billion.

Judge Torres, who provided additional context for the ruling, stated that Ripple’s programmatic sales, distribution channels, and XRP sales by Larsen and Garlinghouse do not form investment contracts. In essence, this interpretation effectively prevents categorising such transactions as securities.

In a broader context, the judge’s statement has implications for the broader cryptocurrency market. Judge Torres’ ruling specified that the classification of digital tokens sold to the public as securities is not always definitive. This may open the way for cryptocurrency sales and transactions, which is expected to revolutionize the cryptocurrency market.

Only a 50/50 win

While this ruling has brought considerable relief to Ripple and XRP enthusiasts, there is more to come, and the verdict is only a 50/50 win, with the court stating that a separate announcement will be issued soon detailing the date of the next hearing and a schedule of any relevant preliminary hearings.

XRP price predictions are all up as $600M in volume keeps XRP above $0.6 – whales are buying; XRP’s charts suggest it may be about to rally again, with its indicators starting to turn up.

https://zycrypto.com/polygon-unveils-game-changing-transformation-of-matic-into-versatile-pol-token/

Polygon Labs, the development team behind Ethereum scaling solution Polygon, has announced its new native token, POL. Through a Twitter announcement, Polygon Labs proposed an upgrade plan to replace the existing token, MATIC, with POL — thereby establishing POL as the exclusive token for all networks within the Polygon ecosystem.

These networks include the Polygon mainnet, Polygon zkEVM network, and various Supernet chains (dedicated application chains running on the Polygon mainnet). If the proposal is accepted, POL will serve as a multi-purpose token, enabling network validators to support the operation of multiple chains using a single token.

Upgrading from MATIC to POL would demand an upfront technical procedure: MATIC will have to be sent to an upgraded smart contract, automatically retrieving an equivalent amount in POL. If the community supports this initiative, token holders will have sufficient time to upgrade, such as four years or longer.

Each community of the Polygon chains will ultimately decide which token to use as gas fees. Some may opt for POL, and token holders can utilize POL to vote on governance proposals for DApps built on Polygon, with all rewards and incentives distributed in POL.

According to TradingView data, after the news was released, the price of the MATIC token rose from approximately $0.73 to $0.77 within an hour, representing a growth of over 5%.

https://zycrypto.com/coinmarketcap-unveils-explosive-exchange-data-report-for-first-half-of-2023/

In a much-anticipated release, CoinMarketCap, the renowned cryptocurrency information platform, exposed its “Unveilling the Crypto Market” exchange report for the initial half of 2023. This comprehensive analysis delves into two prominent categories: centralized exchanges (CEX) and decentralized exchanges (DEX), presenting valuable insights into the market dynamics. This report offers a captivating snapshot of the current landscape by scrutinizing the trading volume disparity between CEX and DEX and evaluating the performance of exchange tokens.

CoinMarketCap Centralized Exchange (CEX) Data Revealed

First, the report looks at the total spot trading volume of the top 20 exchanges in the past four quarters. It is recognised that the trading volume in the first quarter of this year has increased by about 26% compared with the previous quarter. CoinMarketCap believes that there will be such apparent growth. Bitcoin rose 72.1% in the quarter, driven by the asset’s price.

However, trading volumes slowed significantly in the second quarter, down about 36% quarter-on-quarter. CoinMarketCap says current trading volumes are very similar to market conditions observed during the recovery phase of the FTX crash.

Looking at the various exchanges separately, Binance still exhibits dominance on the spot market share and reached nearly 60% in February this year – which later dropped to about 47%.

Among these exchanges, Gate.io has the most trading pairs (Current Number of Markets), followed by Binance. However, regarding the number of cryptocurrencies (Current Number of Coins), Binance shares less spotlight. CoinMarketCap said that this is mainly due to Binance selecting high-quality mainstream coins.

As for security, Binance ($57 billion), OKX ($10 billion) and Bitfinex ($10 billion) have the highest proof of asset reserves among the disclosed exchanges, with most exchanges holding more than 1,000 bitcoins Coins and stablecoins.

As the figure below highlights, Binance’s reserve assets declined significantly in June. This phenomenon is related to the market triggered by the SEC’s prosecution. The outflow of funds led to a decrease of about 20 billion U.S. dollars in Binance’s reserves.

Although the trading volume of exchanges this year is not particularly outstanding, and the market conditions are relatively deserted, most exchange tokens are flat or rising this year, and only Huobi Token has experienced a significant decline.

CoinMarketCap Decentralized Exchange (DEX) Data Revealed

Following the examination of CEXs, the report brings down the data of DEXs. The trading volume of the top 15 exchanges peaked in March this year. Although the trading volume dropped in the second quarter, the factor maintains stability. Transaction volume in the second quarter was $189 billion, down 24% quarter-over-quarter.

Among these exchanges, Uniswap has the highest proportion of trading volume this year, 57.5%, far exceeding other competitors. It is then followed by Pancakeswap and Curve, with 12.7% and 11.5% respectively.

If Uniswap is compared with centralized exchanges, its trading volume is equal to Coinbase’s but still far from Binance’s.

Since the beginning of this year, the ratio of DEX trading volume to CEX spot trading volume has gradually increased and is currently about 1:8. CoinMarketCap believes this can be attributed to several factors, including:

1. The latest developments in DEX products.
2. Regulatory intervention raises concerns about CEXs.
3. More favourable environment and lower gas costs.
4. The current market has a higher proportion of cryptocurrency-native participants.

Finally, Ethereum usage still dominates all blockchains, with about 80% of DEX transaction volume happening on Ethereum and its Layer 2. However, in the second quarter of this year, the DEX transaction volume on the BNB chain also increased, accounting for about 15%

https://zycrypto.com/bitcoins-correlation-with-traditional-markets-and-gold-diminishes-heres-why/

The correlation between Bitcoin (BTC) and gold, as well as the traditional market continues to be a burning issue.

According to IntoTheBlock, a shift is being witnessed because the connection between BTC and the traditional market continues to decline. 

The market insight provider stated, “Bitcoin Correlation Shift: A month ago, BTC demonstrated an inverse correlation with the stock market and a minor positive link with Gold. Fast forward to today, it’s intriguing to see BTC showing no connection with traditional markets & a negative correlation with gold.”

Glassnode, a leading on-chain metrics provider, shared similar sentiments and acknowledged that Bitcoin’s price action was decoupling from both gold and silver. This was because its 30-day correlation with gold stood at lows of -0.78, whereas that of silver hit -0.9.

What Does the Declining Correlation Mean?

The decoupling of BTC from the stock and traditional market, as well as its negative connection with gold is a welcome move because the leading cryptocurrency is showcasing itself as a different asset class. This might be the case as more big players continue penetrating the Bitcoin market.

Notably, correlation illustrates the tendency of two items to move in a similar or opposite direction after a given period of time.

The comparison between gold and BTC has gained steam over the years, especially when it comes to the issue of being a hedge against inflation or store of value. Bitcoin’s status as an alternative to gold continues to be tested based on its decentralized nature and finite supply.

Previously, Bitcoin showed a strong correlation with the stock market. This was because whenever the stock market experienced a sharp sell-off, BTC followed suit, especially during periods of economic uncertainty, as showcased during the peak of the pandemic in 2020. 

Meanwhile, a research report by Bernstein acknowledged that BTC was a ‘faster horse’ than gold. This was after the top cryptocurrency breached the psychological price of $30K for the first time in April since June 2022. 

https://zycrypto.com/0-001-shib-price-looks-nigh-as-shiba-inus-testnet-sees-rising-activity-ahead-of-shibarium-mainnet/

Shiba Inu, the renowned meme-based cryptocurrency, experienced an astounding 1900% burn rate surge within 24 hours. This remarkable spike came on the heels of the Shibarium testnet, Puppynet, reaching a significant milestone of 25 million total transactions, generating immense excitement and anticipation for the imminent mainnet release.

PuppyScan, the dedicated blockchain explorer for Shiba Inu, reported that the Shibarium beta testnet had surpassed the impressive mark of 25 million transactions at a staggering 25,507,335. Moreover, 17,001,839 wallet addresses have actively participated in Shiba Inu transactions, highlighting the widespread engagement and interest in this captivating cryptocurrency.

The testnet has processed over 1,483,165 blocks, boasting an impressive average block time of 7.5 seconds. These impressive statistics showcase the efficiency and scalability of the testnet and contribute to the growing optimism surrounding Shiba Inu and the expanding possibilities within its ecosystem.

The excitement further intensified when Shytoshi Kusama, the esteemed lead developer of SHIB, took to Twitter to share a compelling 19-second video clip accompanied by an image featuring the iconic dog-headed SHIB logo. While the video contained minimal captions, it offered a tantalizing glimpse into the project’s plans. The dynamic motion lettering within the video alluded to an imminent revelation, with the cryptic message, “Something is coming. Actually, we are going somewhere.”

Shibarium, a cutting-edge Layer 2 blockchain platform, is poised to empower the development of Decentralized Applications (DApps). As the launch of the mainnet approaches, Shiba Inu enthusiasts eagerly anticipate the boundless opportunities and prospects that this innovative platform will unlock.

Regarding price action, Shiba Inu was observed trading at $0.000007722, registering a notable 3% increase in the past 24 hours. While volatility is inherent in the cryptocurrency market, the recent surge in burn rate and the significant milestone achieved by the Shibarium testnet undoubtedly contribute to the prevailing positive sentiment surrounding Shiba Inu amid calls for a $0.001 SHIB price.

As the cryptocurrency community eagerly awaits further updates and announcements from the dedicated team behind Shiba Inu, the resounding success of the Shibarium testnet and the growing engagement with Shiba Inu transactions establish a solid foundation for the project’s future growth and widespread adoption.

https://zycrypto.com/bitcoins-age-consumed-metric-surges-pointing-towards-resurgent-network-activity/

Bitcoin, the world’s leading cryptocurrency, has recently experienced a notable surge in its Age Consumed metric over the past 24 hours. This spike in Age Consumed suggests that previously dormant addresses holding Bitcoin are now re-entering circulation, indicating a revival in network activity. Such occurrences often act as a precursor to potential price jumps in the Bitcoin market. In this article, we delve into the significance of Age Consumed and explore how it can indicate increasing network activity and its potential impact on Bitcoin’s price.

Understanding Age Consumed

Age Consumed is a metric that measures the movement of previously inactive Bitcoin addresses: when Bitcoin held in dormant wallets is transferred, the Age Consumed increases. This metric is valuable for analyzing network activity and identifying periods of heightened market interest. By tracking Age Consumed, analysts can gain insights into the behaviour of long-term investors and the flow of Bitcoin between different market participants.

The recent surge in Bitcoin’s Age Consumed points towards renewed vigour within the network. Stagnant addresses that have held Bitcoin for an extended period are now starting to circulate their holdings. This movement signifies increased activity among Bitcoin holders and suggests a shift from long-term investment to more active trading. When many dormant addresses begin to transact, it often indicates growing interest and participation in the Bitcoin market.

Implications for price movements

Historically, periods of heightened Age Consumed have correlated with notable price jumps in the Bitcoin market. As dormant addresses become active and Bitcoin begins to circulate more actively, it can generate increased buying and selling pressure. This surge in trading volume and market participation often translates into significant price movements. Investors and traders closely monitor Age Consumed as a potential leading indicator of price volatility, allowing them to make informed decisions regarding their Bitcoin holdings.

Several factors contribute to the rise in Age Consumed. Firstly, increasing market speculation and the entrance of new participants can prompt dormant addresses to become active, thereby driving up the metric. Additionally, significant news events, regulatory developments, or technological advancements can spark interest in Bitcoin, leading to increased network activity. Considering these external factors alongside Age Consumed is essential to obtain a comprehensive understanding of the evolving Bitcoin market dynamics.

Bitcoin’s Age Consumed surge in the past 24 hours reflects a resurgence in network activity. The movement of previously stagnant addresses suggests an increased willingness among Bitcoin holders to participate in the market actively. As Bitcoin’s network activity grows, it remains an exciting time for enthusiasts and investors alike as they navigate the evolving landscape of the world’s most prominent cryptocurrency.

https://zycrypto.com/xrp-lawsuit-google-bard-ai-predicts-outcome-of-sec-case-major-win-for-ripple-imminent/

The outcome remains uncertain in the riveting legal battle between Ripple and the U.S. Securities and Exchange Commission (SEC). However, a recent analysis from Google Bard AI sheds light on Ripple’s potential for a significant victory. As the case continues to unfold, numerous factors come into play, influencing the ultimate verdict. In this article, we delve into the key arguments provided by Google Bard AI supporting both Ripple’s triumph and potential downfall.

The XRP Security Debate

At the core of the SEC’s case against Ripple lies the assertion that XRP should be classified as a security. Yet, the crypto community remains deeply divided on this matter. While some experts vehemently oppose such categorization, others see plausible arguments for XRP as a security. The SEC’s evidence backing their claim lacks clarity, leaving room for doubt and further debate.

Ripple’s Legal Team

Fortifying its position, Ripple has assembled a legal team comprised of the country’s top legal minds. These seasoned lawyers bring an impressive track record of victories in complex cases, bolstering Ripple’s prospects for success. With their wealth of experience and expertise, they are prepared to tackle the SEC head-on and defend Ripple’s interests vigorously.

Support From Crypto Community

A resounding wave of support emanates from the crypto community, standing firmly behind Ripple in this legal tussle. Many enthusiasts argue that the SEC’s pursuit of Ripple represents an overreach of its regulatory authority, potentially stifling innovation in the crypto space. This unwavering backing from the community reflects a broader sentiment that Ripple’s victory would pave the way for positive industry developments.

Undeniably, the SEC possesses vast resources and a solid determination to secure a favourable outcome in this lawsuit. With their extensive arsenal, they wield considerable power to influence the proceedings. Additionally, the possibility of compelling key witnesses to testify against Ripple looms over the case, potentially posing a threat to Ripple’s defense.

The Verdict Hangs in the Balance

Ultimately, the fate of Ripple hinges upon the evidence presented by both parties and the rulings of the presiding judge. With the ongoing case, it is premature to predict the victor definitively. However, given the arguments in Ripple’s favor, they appear to have a substantial chance of prevailing. The verdict of this lawsuit will reverberate across the crypto industry, setting a precedent for future regulatory actions.

Ripple’s case against the SEC rests on several crucial factors, including the contested classification of XRP, their legal team, and the unwavering support of the crypto community. However, the SEC’s formidable resources and potential key witnesses against Ripple pose significant challenges. Ripple remains poised for success in this high-stakes legal battle, but only time will reveal the true victor in this momentous clash.

https://zycrypto.com/0-001-shiba-inu-price-outlook-hangs-on-as-shib-network-activity-surges-ahead-of-shibarium-launch/

Shiba Inu, the popular meme-based cryptocurrency, has been gaining significant attention lately as the highly-anticipated launch of Shibarium approaches. Network activity surrounding Shiba Inu has witnessed an impressive surge, with a staggering 2,538 new SHIB addresses created in a single day, marking the highest increase in three months. This surge in network activity indicates growing interest and excitement as the community eagerly awaits the launch of Shibarium.

Rising Network Activity Signals Enthusiasm

The recent network data highlights the remarkable surge in Shiba Inu network activity.

The creation of 2,538 new SHIB addresses in a single day speaks volumes about SHIB’s enthusiasm and engagement. The Shiba Inu community is actively participating in the network, potentially paving the way for new opportunities and developments.

One cannot overlook the significance of the highly-anticipated Shibarium launch in relation to the surge in network activity. Shibarium is an upcoming layer-2 blockchain network being developed within the Shiba Inu ecosystem, aiming to provide users with a secure and efficient blockchain ecosystem.

Shibarium is poised to revolutionize the Shiba Inu ecosystem by providing a dedicated platform for trading SHIB and exploring the world of non-fungible tokens (NFTs). The decentralized exchange component of Shibarium will allow users to trade SHIB tokens with ease, fostering liquidity and enabling seamless transactions within the Shiba Inu community. Additionally, the NFT marketplace will enable creators and collectors to engage in the vibrant world of digital art and collectibles, further expanding the utility and appeal of Shiba Inu.

The increasing network activity and the upcoming Shibarium launch have fueled a sense of anticipation and investor confidence within the Shiba Inu community. The surge in new SHIB addresses indicates that more investors are seeking to participate in the ecosystem and potentially benefit from the forthcoming developments. This growing confidence is further reflected in the rising trading volumes and market capitalization of SHIB.

Community Excitement and Future Prospects

The escalating network activity and growing investor sentiment surrounding Shiba Inu indicate a thriving community that eagerly anticipates the launch of Shibarium. With increased SHIB addresses being created, it is evident that SHIB enthusiasts are positioning themselves to take advantage of the forthcoming platform’s potential. The excitement stems from the belief that Shibarium could potentially elevate the Shiba Inu project to new heights in terms of utility and market capitalization and further boost SHIB’s price to the highly-coveted $0.001 price point.

Furthermore, the launch of Shibarium is expected to attract attention from crypto enthusiasts beyond the existing Shiba Inu community. The dedicated exchange and NFT marketplace offer unique opportunities for traders and collectors, potentially drawing new users to the ecosystem. This influx of participants has the potential to contribute to increased liquidity and trading volume, bolstering the overall health and growth of the Shiba Inu network.

https://zycrypto.com/long-term-bitcoin-holders-defy-market-uncertainty-setting-the-stage-for-further-growth/

In the ever-evolving world of cryptocurrencies, Bitcoin remains the leading digital asset, captivating the attention of investors and enthusiasts alike. Amidst market uncertainties, a recent report by IntotTheBlock sheds light on an intriguing trend. The report highlights the growing conviction of long-term Bitcoin holders as the total amount of Bitcoin they hold approaches an all-time high, surpassing previous levels recorded in March. 

The Resilience of Long-Term Holders During Market Uncertainty

Despite the inherent volatility of the cryptocurrency market, long-term Bitcoin holders have consistently demonstrated their unwavering belief in the asset’s potential. Their conviction is showcased by the increasing accumulation of Bitcoin, as indicated by the rising total amount held. This trend reflects a strong commitment to the digital currency, even in the face of market uncertainty and short-term price fluctuations.

Market uncertainties often serve as a litmus test for the resolve of long-term holders. Various factors influence Bitcoin’s price movements, including macroeconomic events, regulatory developments, and market sentiment. During periods of turbulence, short-term traders may be tempted to sell their holdings, driven by fear or a desire to secure quick profits. In contrast, long-term holders exhibit resilience, viewing market fluctuations as an opportunity to strengthen their positions and reap the rewards in the long run.

The Significance of Accumulation – Sign of Future Growth?

The accumulation of Bitcoin by long-term holders carries several implications. Firstly, it reflects a long-term investment strategy, where holders believe in the asset’s potential for substantial future growth. This confidence is often grounded in understanding Bitcoin’s scarcity, its position as a store of value, and its increasing adoption across various industries.

Secondly, the growing accumulation by long-term holders reduces the available supply of Bitcoin in circulation, potentially exerting upward pressure on its price. As the scarcity of an asset increases, its perceived value rises, attracting new investors and further bolstering the market.

The conviction and accumulation of Bitcoin by long-term holders set the stage for the asset’s continued growth. Their belief in the transformative power of Bitcoin as a decentralized digital currency is a testament to its potential to disrupt traditional financial systems.

Furthermore, the increasing adoption of Bitcoin by institutional investors and corporations adds credibility and stability to the cryptocurrency ecosystem. This institutional interest aligns with the long-term vision of Bitcoin and paves the way for broader acceptance and integration within mainstream financial markets.

The recent surge in the total amount of Bitcoin held by long-term holders showcases their unwavering conviction in the asset’s potential. As market uncertainties persist, these holders stand strong, accumulating Bitcoin and setting the stage for further growth. This development highlights the enduring appeal of Bitcoin as a long-term investment and underscores its role as a cornerstone of the evolving digital economy. With increasing institutional adoption and growing global recognition, Bitcoin’s journey towards mainstream acceptance seems more promising than ever before.

https://zycrypto.com/xrp-eyes-monster-move-as-new-lawsuit-outcomes-set-ripple-on-path-to-gigantic-win-against-the-sec/

The SEC vs Ripple case has taken yet another intriguing turn, as Ripple’s legal officer Stuart Alderoty reveals new findings that go against the SEC’s arguments. Alderoty took to Twitter to make the statement, sharing his perspective on the SEC’s position and highlighting a past case that serves as a precedent for the Ripple lawsuit.

In his tweet, Alderoty referenced a 1946 Supreme Court case known as “Howey”, where the SEC unsuccessfully argued that an investment in a “common enterprise” was unnecessary if there was a “community of interest.” Alderoty argued that the SEC was wrong then and is still wrong now, stating that “Common Interest ≠ Common Enterprise.” This statement suggests that Ripple’s case is grounded in legal precedent, giving them a solid foundation to challenge the SEC’s claims.

Ripple vs SEC: What’s Been Going On?

Ripple, a blockchain-based payment protocol, has been embroiled in a lawsuit with the SEC since December 2020 over allegations of selling unregistered securities. The Ripple lawsuit has been a topic of interest for many in the crypto world, as it has significant implications for the industry. The SEC alleges that Ripple and its executives engaged in selling unregistered securities, a violation of US securities laws.

Ripple has maintained its innocence in the case and has been fighting to have the lawsuit dismissed. The company claims that XRP, its native cryptocurrency, is not a security and, therefore, not subject to SEC regulation. Ripple has also accused the SEC of causing “multi-billion dollar losses to innocent third parties” through its actions against the company.

The case has been ongoing for over a year, with both parties presenting their arguments in court. However, Alderoty’s tweet suggests that Ripple’s legal team isn’t backing down and is continuing to build its case against the SEC. The reference to the “Howey” case is significant because it established the legal test for determining whether an asset is a security. If Ripple can show that XRP does not meet the “Howey” test, then it could be a game-changer for the entire cryptocurrency industry.

The case has seen several developments in recent months, including a ruling by the court allowing Ripple to depose former SEC official William Hinman, who allegedly made comments indicating that XRP was not a security. The SEC has fought against Hinman’s deposition, arguing that it would be “unreasonable and oppressive.”

The U.S. Securities and Exchange Commission’s motion to seal the controversial William Hinman Ethereum speech docs has just been rejected by Judge Analisa Torres — a move hailed by Ripple CEO Brad Garlinghouse as a remarkable step toward transparency.

It’s worth noting that the SEC’s case against Ripple has been controversial, with many in the crypto community criticizing the agency for its handling of the matter. Some have accused the SEC of attempting to regulate the crypto industry through litigation rather than through the proper channels of rule-making and legislation.

Despite the twists and turns of the case, it is clear that both Ripple and the SEC are taking the matter seriously. The lawsuit’s outcome will have far-reaching implications for the crypto industry, and it’s anyone’s guess which way it will go. However, with Stuart Alderoty and the rest of Ripple’s legal team continuing to build their case, it seems likely that the case will continue to make headlines for some time.

https://zycrypto.com/how-the-outcome-of-sec-v-ripple-case-could-shape-crypto-markets-as-xrp-army-eagerly-awaits-verdict/

In December 2020, the U.S. Securities and Exchange Commission (SEC) filed a lawsuit against Ripple, alleging that the company conducted an unregistered securities offering of its native XRP token. This article explores how this case’s outcome could shape the cryptocurrency market’s future.

First of all, it’s essential to understand what a security is. Imagine John buying a piece of Company “A.” This means John is buying ownership of the company, and his “piece” will become more valuable if the company does well. If John decides to sell his piece for a higher price, he will make a profit. This is similar to what the SEC argues happened with Ripple. The SEC claims that Ripple raised over $1.3 billion by financing itself with an “equity” offering.

Now, you might be thinking, “People buy Bitcoin or Ethereum to make a profit and are considered an investment by retail investors.” And you’re correct. Most people are attracted to cryptocurrencies because of their rapid increase in value during speculative bull runs. But the classification of whether a cryptocurrency is a security depends on how it was marketed by its “creators.” This classification is crucial for the future of the market.

If XRP is considered a security, it would likely be subject to strict regulatory oversight and restrictions, including registering with the SEC and complying with various reporting and disclosure requirements.

This could set a precedent and give the SEC the power to apply these regulations to the entire cryptocurrency industry, potentially overburdening it with excessive regulations. Applying the same rules to a crypto project as a Nasdaq-listed stock would be highly challenging for many projects. Additionally, these regulations may include restrictions on who can purchase or hold the token, which could lead to a significant drop in demand for the market.

However, regulations aren’t necessarily negative for the market. Scams and Ponzi schemes are common in this industry, and a new, clear regulatory framework could reduce uncertainty and make transactions smoother. Additionally, the framework must take into account the unique value that each cryptocurrency brings.

For example, XRP was designed for cross-border payments, similar to a currency. Other cryptocurrencies were designed for facilitating transactions as a governance token in various NFT projects or for executing transactions as a governance token in several NFT projects, or transferring and storing value, like Bitcoin.

In conclusion, the outcome of the SEC vs Ripple case has the potential to shape the future of the industry as it confirms or redefines the concept of “cryptocurrency”. It will be interesting to see how the industry develops in response to the decision.

https://zycrypto.com/bitcoin-whales-transaction-count-of-1m-signal-declining-market-sentiment-here-are-its-implications-for-btc/

The Bitcoin market has been witnessing a gradual shift recently as the transaction count of $1 million or more among Bitcoin whales has steadily declined since March 22. This downward trend has caught market analysts’ attention and led to several speculations about the future of Bitcoin.

As the leading cryptocurrency, Bitcoin’s market trends have far-reaching implications for the entire digital asset market. Therefore, any significant change in the behaviour of Bitcoin whales can have ripple effects on the entire industry. Whales are large holders of Bitcoin who own a significant portion of the cryptocurrency, and their actions are often a leading indicator of market sentiment.

Change in Whale Sentiment: Why Does It Matter?

The decline in the Bitcoin whale transaction count could be an indication of several possible scenarios. Firstly, it could suggest a reduction in the trading activity of these large holders. This could be due to a variety of reasons, such as a shift in investment strategy, a decrease in market volatility, or the absence of any significant price movements in recent times.

Another possible implication of the downward trend in Bitcoin whale transaction count is a shift in market sentiment. Whales often make significant moves in the market that can cause a price surge or a price crash. Therefore, a decline in their transaction count could indicate a lack of confidence in the current market conditions. This could lead to a more cautious approach from large holders, which could dampen the overall market sentiment.

However, it is worth noting that the decline in Bitcoin whale transaction count could also be a temporary phenomenon. It is not uncommon for large holders to adjust their investment strategy based on market conditions. Therefore, this trend may not be an accurate indicator of the long-term future of Bitcoin.

It is essential to admit that the declining trend of Bitcoin whale transaction count could have several possible implications for the future of Bitcoin. Whether it signals a reduction in trading activity among large holders or a shift in market sentiment remains to be seen. However, the cryptocurrency market is known for its volatility, and trends can change quickly. Therefore, investors and analysts should keep a close eye on future developments to stay ahead of the curve.

https://zycrypto.com/shibarium-the-project-set-to-propel-shiba-inu-beyond-predictions-of-a-0-001-shib-price/

Shiba Inu has been on a roll lately, with its unique blend of meme culture and cutting-edge technology captivating the cryptocurrency world: a cute dog mascot and community-driven approach became a favourite among investors and traders alike. But what really sets Shiba Inu apart is its upcoming Shibarium project and how it could potentially impact the price of SHIB, especially in the face of forecasts of a $0.001 price.

Shibarium is essentially an upcoming Layer-2 blockchain network encompassing a decentralized exchange (DEX), Metaverse, and games that will be built on Ethereum for the Shiba Inu blockchain. The DEX will enable users to trade SHIB and other tokens in a completely decentralized manner without the need for a centralized exchange. This is a significant development, as decentralized exchanges are becoming increasingly popular due to their greater security and transparency.

What sets Shibarium apart?

One of the key benefits of Shibarium is that it will incentivize users to hold SHIB in order to participate in the platform. Users who hold SHIB will be able to stake it on Shibarium and earn rewards in the form of other tokens. This will create a demand for SHIB, potentially increasing its price.

Another way that Shibarium could impact the price of SHIB is through increased exposure. As a decentralized exchange built on the Shiba Inu blockchain, Shibarium will likely attract much attention from the cryptocurrency community. This could lead to more people becoming interested in SHIB, which could increase demand and its price.

Of course, it’s important to note that the price of SHIB is notoriously volatile, and projections of a $0.001 price should be taken with a grain of salt. However, Shibarium could potentially provide some stability to the price of SHIB, as it will create major use cases for the token beyond speculation. If Shibarium proves to be successful, it could also lead to other developments on the Shiba Inu blockchain, which could further increase the value of SHIB.

All in all, Shibarium is a significant development for Shiba Inu and can potentially impact the price of SHIB in several ways. By incentivizing users to hold SHIB and creating exposure for the token, Shibarium will likely drive up demand and create some stability for the price. However, it’s important to remember that cryptocurrency markets are notoriously unpredictable, and investors should always research and approach any investment cautiously.

https://zycrypto.com/shiba-inu-and-doge-killer-pepe-coin-eyes-monstrous-highs-despite-already-gaining-2000-in-a-week/

Pepe Coin is a meme coin based on the Pepe the Frog meme, with the latter gaining popularity on the internet in the mid-2010s. Pepe has been used as a meme in various contexts, often to convey humour or sarcasm. PEPE as a cryptocurrency entered the crypto market in April and has since made staggering gains, despite the creators stating that the value of PEPE is primarily based on speculation and hype rather than any intrinsic value or use case.

Memecoins are cryptocurrencies based on internet memes or pop culture references created for entertainment or as a joke. Some examples include Dogecoin, Shiba Inu, Baby Doge, and Floki Inu. While their prices fluctuate significantly, they are considered highly speculative and risky investments due to their lack of underlying value or use case. Pepe Coin is a newer meme coin gaining traction and may signal a shift away from dog-themed coins.

Pepe Coin was launched without the use of traditional methods such as an ICO, presale, or airdrop, relying solely on the popularity of the Pepe the Frog meme to generate investor interest. Within days of its launch, its price increased by 2000%, propelling it into the top 100 cryptocurrencies with a market cap of more than $396 million.

The number of wallets holding PEPE has increased from 7000 in mid-April to 79000 at the start of May. The coin has set itself the goal to surpass Dogecoin and Shiba Inu, according to its website. It can be traded on Uniswap, OKX, and Houbi, amongst others, a be listed on nd is on the verge of going live on major exchanges such as Binance, Coinbase, or Kraken. Crypto Twitter is in full anticipation that it will soon be listed and that explosive growth will continue.

Last weekend, traders experienced significant slippage when trying to convert large amounts of PEPE into other currencies, like ETH, due to a lack of liquidity despite a recent rise in liquidity pool activity.

With a self-reported circulating supply of 420.69 trillion PEPE tokens compared to a circulating supply of 139.22 billion DOGE, it is difficult to see how many newcomers are needed to reach similar volumes, and it remains to be seen how many people will buy into the latest meme graze.

Additionally, it must be said that PEPE has no intrinsic value and does not appear to have plans to add any features. Pepe Coin’s future is uncertain, with some experts predicting it will remain significant, while others believe it will follow in the footsteps of other short-lived meme coins such as Grimacecoin and Pump Coin. Grimacecoin, for example, experienced a brief increase in value following a McDonald’s tweet, but its price eventually returned to its original level.

According to the developers’ website, investors may want to consider the following because “$PEPE is a meme coin with no intrinsic value or expectation of financial return. There is no formal team or roadmap. The coin is completely useless and for entertainment purposes only.”

Then again, internet memes, especially crypto meme coins, are notoriously difficult to predict, and PEPE sees itself as the king of memes.

https://zycrypto.com/ripples-q1-2023-xrp-markets-report-shows-xrps-super-bullish-trajectory-despite-sec-lawsuit/

On April 27, Ripple released the Q1 2023 XRP Markets Report, highlighting several key developments in the crypto industry. Below are the key takeaways from the report.

XRP sales by Ripple saw a massive increase in Q1 2023, with net sales reaching a whopping $361.06 million compared to the previous quarter’s $226.31 million. And that’s not all – XRP Ledger on-chain activity also experienced a surge, with decentralized exchange volumes increasing by 34% to $115 million in Q1 compared to Q4 2022. Meanwhile, XRP’s average daily volume on centralized exchanges jumped 46% to $1 billion from $698 million.

But the excitement doesn’t stop there. The EU, UK, and UAE have proposed new regulatory frameworks for crypto that could change the game for the entire industry. The Markets in Crypto Assets regulation (MiCA) has been passed in the EU, resulting in a brand new licensing regime in the 27 member states. The UK government has introduced comprehensive regulatory proposals for a new regulatory regime for crypto, building on prior proposals focusing on stablecoins and the financial promotion of tokens. And in the UAE, a new law governing virtual assets has been passed, setting up the country’s initial regulatory regime for cryptocurrencies at the federal level.

Despite the broader financial turmoil, XRP markets saw an impressive 46% increase in volumes in Q1, likely due to a combination of market recovery and large volatile events that tend to spike volumes. BTC and ETH spot volumes were up 12% and down 12%, respectively, QoQ, while derivatives volumes for BTC and ETH were up 14% and 20%, respectively, QoQ.

Regarding global regulation, several countries are moving forward with new legislation and licensing regimes to clarify crypto. Australia’s central bank and Treasury held private meetings with international crypto industry executives on the nation’s future of crypto and regulation. Hong Kong and Australia also opened public consultations on proposed requirements for virtual asset trading platform operators and token mapping.

The US’s approach to crypto regulation focused on regulation by enforcement instead of rulemaking, as Coinbase and Paxos received Wells notices from the SEC alleging various securities laws violations and lack of registration. SEC Chair Gensler issued a broad warning to yield-earning crypto platforms to comply after Kraken shuttered its staking service, to which Commissioner Peirce denounced her agency’s actions.

In Q1, Silvergate, Silicon Valley Bank (SVB), Signature, and Credit Suisse faced critical blows, revealing the extent of the opacity and interconnectedness across global financial and crypto markets. The fall of SVB and the unexpected shutdown of Signature Bank meant that much of the crypto world was de-banked in the US overnight. USDC had a short-term liquidity-driven de-peg down to $0.85 on some exchanges, recovering to $1 within a few days, but market confidence in essential on-off ramps was shaken.

Despite the turmoil, those who build on a battle-tested foundation of prudent risk management and real-world utility will continue growing once the world emerges from the current climate. Macro uncertainty is set to continue in Q2, but many in the industry have lauded Europe’s efforts to regulate crypto responsibly.

And last but not least, developers have proposed a new interoperability standard (XLS-38d) for the XRP Ledger, enabling users to transfer digital assets and data between blockchains regardless of underlying protocol or programming language. The future is looking bright for XRP and the crypto industry as a whole!

https://zycrypto.com/polygon-whale-moves-millions-in-matic-as-the-networks-exchange-supply-jumps-to-5-week-high/

Polygon (MATIC), the Layer 2 scaling solution for Ethereum, has recently witnessed a significant movement of tokens from one of the largest self-custody addresses. According to data from Santiment, a blockchain analytics platform, the whale address transferred 60 million MATIC tokens to an exchange, causing the network’s exchange supply to rise to a 5-week high of 7.92%.

While this may raise concerns, it is worth noting that the whale address still holds a colossal MATIC stash. This means that the movement of 60 million tokens represents only a small portion of the whale’s total holdings. Nevertheless, any significant movement of tokens by whales, known to hold large amounts of cryptocurrency, can considerably impact market prices.

Traders should be cautious when such whale exchange inflows happen, as they could signal a potential sell-off or a loss of confidence in the cryptocurrency. However, it is essential to remember that the movement of tokens by a single whale address does not necessarily reflect the sentiments of the entire market. Therefore, analysing the situation in the context of the overall market conditions is crucial before making any decisions.

So What Does This Mean for MATIC?

In related news, the price of MATIC had fallen below the $1 mark, prompting many investors to take a closer look at the on-chain activity. According to data from IntoTheBlock, a blockchain analytics firm, 32.56k addresses purchased MATIC at an average price of $0.918. This suggests that if prices were to return to those levels, investor interest might pick up once again.

The dip in price may be an opportunity for traders to enter the market at a lower cost, as the long-term outlook for Polygon remains positive. The project has seen significant growth in recent months, with many developers and users flocking to its scalable and efficient network. Moreover, Polygon has partnered with numerous high-profile projects, including Aave, SushiSwap, and Curve, which further validate its potential as a top-tier cryptocurrency.

The recent movement of tokens by a whale address and the dip in the price of MATIC should be viewed in the context of the broader market conditions. While caution is advised, investors should also consider the long-term potential of Polygon and the increasing interest from developers and users alike.