https://thenewscrypto.com/expansion-of-web3-and-blockchain-beyond-existence-bri-ventures-cio/

Accelerators, incubators, and ventures play a crucial role in fostering innovative players, predominantly startups, in the ecosystem. They serve as the catalysts of web3 and blockchain adoption. TheNewsCrypto had the privilege of engaging with Markus Liman Rahardja, Chief Investment Officer of BRI Ventures, who emphasized the increasing role of accelerators in the industry.

The Indonesian lender Bank Rakyat Indonesia (BRI) owns BRI Ventures, the venture capital arm. Diving deep into the development of Web3 and blockchain, BRI Ventures boasts an expert team on the lookout for emerging innovations. This conversation revealed the accelerator’s keen interest in exploring the realm of non-fungible tokens (NFTs).

Could you take us through the BRI Ventures’ roadmap for H2 2023 as it emerges as a potential accelerator for Web3 initiatives?

Markus Liman Rahardja (MLR): As a part of BRI Ventures’ initiatives, I would say that the firm is a part of big banks. The investment thesis is always way more strict when compared with the traditional investors. When we explore blockchain initiatives and related projects, we definitely tend to focus more on the infrastructure aspect. By infrastructure, we mean everything that relates to strengthening the digital infrastructures such as payment rail, identities, and so on. We are exploring those things as part of our commitment to innovation.

In your opinion, what do you think are the drawbacks of the conventional investment strategies used by traditional accelerators while approaching the Web3 and blockchain ecosystem?

MLR: I think Web3 and Blockchain are unique in a way, finding real use cases for them is necessary. Web3 and Blockchain are definitely not about throwing out some new jargon. Unfortunately, most startups are kind of complicating even the simplest things. I think what we should not do is basically follow that route blindly. The accelerators in the space should focus on true value, and building the right products with the right people. It is not entirely about the valuation, it is more about the value or utility you bring to the market.

BRI Ventures has also shown interest in NFTs. Back in late 2022, the firm funded an NFT project called SerMorpheus that focuses on enabling “drag-and-drop-NFT building.” Are there further plans to explore and engage with many NFT projects this year? Do you think there’s more to NFTs than just all the hype?

MLR: I think if we talk about NFT, it is not only about arts or buying random pictures online. NFT is about the true value of the ownership. Smart contracts assure and confirm that ownership. These blockchain-based contracts can help you demonstrate ownership of specific digital assets and holdings. As time progresses, this concept might extend to physical assets as well. We are interested in NFTs because of the idea of proving ownership, especially with unique knowledge, it can be useful in many different areas. I think NFT is still in the early days. There’s still a lot more to do for growth and to be explored. I have also no idea what to look at in the markets today.

Do you hold an optimistic or pessimistic view of the current landscape of crypto and Web3 adoption? What is your viewpoint regarding cryptocurrencies?

MLR: The main focus is not just on cryptocurrencies, but rather on the technology of blockchain itself.  I have no specific viewpoint towards them as those are just one of the use cases of blockchain. Blockchain technology has been around for many years down the lane. The best way is not to sell the technology but to deliver the use cases. It’s as simple as that. I think adoption will go along with more use cases making their way to people for use.

What, in your perspective, are the most crucial factors that would aid startups to become market-ready and achieve successful fundraising?

MLR: There’s one most crucial factor. It is simply to obsess with your customers. That’s it.

Lastly, what led you to believe that Coinfest Asia 2023 is the Web3 event that you shouldn’t miss attending this year? 

MLR: The rare occurrence of such vast events like Coinfest Asia 2023 turns out to be the first and foremost event in Bali, Indonesia. Having pleasant weather where the event is planned to occur, is refreshing along with the networking people in the space. It’s a privilege to meet the trendsetters and giants of the industry, all at once. Thanks to Coinfest Asia for uniting and bringing a refreshing connectivity with the peers thereby flourishing the knowledge in crypto and networking blockchain. This makes the event more special. 

Disclaimer: The information provided in this interview article is for informational purposes only. It is not intended to be, nor should it be construed as, investment advice, financial guidance, or a recommendation to make any specific decisions. Readers are encouraged to conduct their own research.

https://thenewscrypto.com/potential-cryptocurrencies-to-hodl-in-q4-2023-2/

In the midst of the highly unpredictable and volatile crypto market since the start of 2023, certain cryptocurrencies have managed to maintain their stability and some marked new lows. Despite the extreme fluctuations and declines, key players like Bitcoin (BTC) and Ethereum (ETH) attempted to exhibit enduring strength.

Notably, the crypto market trends have evolved over the unpredicted ups and downs. In addition to this, crypto investors and traders should definitely consider HODL (an acronym for Hold On for Dear Life), the state of being in the strategy of not selling crypto assets amidst abrupt price shifts in the market which is termed as market volatility. 

The first three quarters of 2023 have delivered an exhilarating rollercoaster ride marked by compelling buy and sell signals for various crypto assets. However, certain users have adopted a subtle HODLing approach, choosing to retain their cryptocurrencies amid both market downturns and surges.  As the year progresses into the fourth quarter, here’s a set of top cryptocurrencies that crypto investors and traders might consider HODLing:

1. Bitcoin (BTC) 

Bitcoin (BTC) dominates the whole crypto world and is the king of cryptocurrencies.  Furthermore, the upcoming fourth Bitcoin halving will be more impactful where the block rewards reduce to 3.125 BTC for every block from 6.25 BTC. The predictions of crypto enthusiasts say that the BTC price might substantially rise concerned to the loading halving event, in less than a year. 

Bitcoin (BTC) 24H Price Chart (Source: CoinMarketCap)

Currently, BTC is trading at $26,088.80, down from nearly $30K this month. At the time of writing, the market cap is just 1.38% down, standing at $508.11B whereas the trading volume crossed $12.48B with a 23.53% surge in the last 24 hours. Moreover, there are 92.70% of BTC is in circulation from its total market supply. Any effect on BTC would probably impact the altcoins in huge as the market drops globally. 

2. Ethereum (ETH)

The second most promising cryptocurrency and the top-most altcoin of all time, Ethereum (ETH) has an unlimited maximum supply in the crypto market. Also, the recent Ethereum Shanghai Capella, an upgrade to confer improved security and sustainability to the PoS Chain.

Ethereum (ETH) 24H Price Chart (Source: CoinMarketCap)

Regardless of the upgrade constraint, the investors are hugely trading ETH which is currently trading at a price of $1,652.12. The trading volume stands at $5,317,038,439 with a market cap of around $200M. Several whale transactions have resurfaced thus indicating the strongest buy signal among others. 

3) Ripple (XRP) 

Over the partial win of Ripple (XRP) in the SEC lawsuit, XRP was substantially supported by the larger crypto community. Even after the interlocutory appeal, Ripple has stood firm rather than stepping back over the fight with the SEC. During the court decision, XRP gained massive support thereby witnessing increase in price.

Regardless of the case, the XRP Ledger featured decentralized exchanges (DEX) with tokenized capabilities that have been reliably built into the protocol. Having around half of its total market supply in circulation, the XRP trading at $0.511 at press time, after a 2.32% dip in the last 24 hours. 

Ripple (XRP) 24H Price Chart (Source: CoinMarketCap)

Notably, the trading volume has seen a fall of over 4.58% and currently stands at $935,036,962, ranking 7th position on CoinMarketCap. Though XRP is not even close to its all-time high (ATH), the final decision of the Ripple Vs SEC case would support growth thereby awaiting a near future opportunity anytime soon. 

4) Polygon (MATIC)  

Polygon, Ethereum layer 2 scaling solution, has become the popular gateway for the enhanced adoption of crypto and Web3. One of the potential investment opportunities could be MATIC as the developments and innovations are making innovative projects contributing to the long-term gain and engagement of users. 

To mention, the Polygon’s zero knowledge Ethereum Virtual Machine (zkEVM) has seen an ATH in its transaction volumes. From the reports of PolygonLabs, it is evident that the total value locked (TVL) has increased by 70% considerably since the launch. Meanwhile, the price change on MATIC got affected irrespective of the growth potential of Polygon zkEVM.

Polygon (MATIC) 24H Price Chart (Source: CoinMarketCap)

Though the price has seen a fall, the investors remained strong. At present, the trading volume of MATIC has reached  $279,317,514, with a 3.26% increase in the last 24 hours. And, is trading at $0.5433 with a 2.04% dip. Over 93.19% of MATIC is in circulation which is around 9,319,469,069 MATIC tokens. To resolve transaction fees at lower costs, Polygon puts forth huge revolutionary measures for easier and more effective solutions. 

Importance and Advantages of HODLing

Despite the losses, cryptocurrencies continue to offer the potential for lucrative gains. These strategies involve long-term commitment, with investors remaining watchful of evolving challenges and opportunities. In contrast to short-term buying and selling tactics, the HODL approach emphasizes sustained holding. HODLing is rooted in the belief that despite the volatility, certain cryptocurrencies have historically shown commendable growth over time. 

In the dynamic realm of cryptocurrencies, risk assessment is paramount due to market volatility and sudden uncertainties. Yet, through the HODL strategy, crypto investors can potentially leverage the following advantages:

• They manage risks, harnessing long-term gains if prices rise over the period. This flexible approach minimizes fees and offers substantial profit potential. 

• By HODLing, investors have good chances to maximize their profits or returns on the crypto assets over the long term. 
• This strategy also aligns with the long-term vision of many crypto projects and promotes stability.

Challenges in HODLing

Clearly, hodling isn’t devoid of risks or challenges in the crypto market. The following are found to be the common challenges faced by crypto investors while hodling:

• During bear markets, long-term investors fail to resist the urge to execute impulsive or panic selling.
• The most common ones are security risks. The chances of losing your access to your keys and assets multiply over a long period.
• Long-term HODLers are subjected to panic as crypto regulations and adoption rates could get uncertain.

While navigating the crypto trade landscape demands strategic approaches, it remains a lucrative avenue for risk-takers who carefully research, time the market and execute trades. 

Recommended For You:

How To Buy and Use Crypto – A Guide for Beginners

https://thenewscrypto.com/potential-cryptocurrencies-to-hodl-in-q4-2023/

In the midst of the highly unpredictable and volatile crypto market since the start of 2023, certain cryptocurrencies have managed to maintain their stability and some marked new lows. Despite the extreme fluctuations and declines, key players like Bitcoin (BTC) and Ethereum (ETH) attempted to exhibit enduring strength.

Notably, the crypto market trends have evolved over the unpredicted ups and downs. In addition to this, crypto investors and traders should definitely consider HODL (an acronym for Hold On for Dear Life), the state of being in the strategy of not selling crypto assets amidst abrupt price shifts in the market which is termed as market volatility. 

The first three quarters of 2023 have delivered an exhilarating rollercoaster ride marked by compelling buy and sell signals for various crypto assets. However, certain users have adopted a subtle HODLing approach, choosing to retain their cryptocurrencies amid both market downturns and surges.  As the year progresses into the fourth quarter, here’s a set of top cryptocurrencies that crypto investors and traders might consider HODLing:

1) Bitcoin (BTC) 

Bitcoin (BTC) dominates the whole crypto world and is the king of cryptocurrencies.  Furthermore, the upcoming fourth Bitcoin halving will be more impactful where the block rewards reduced to 3.125 BTC for every block from 6.25 BTC. The predictions of crypto enthusiasts say that the BTC price might substantially rise concerned to the loading halving event, in less than a year. 

Currently, BTC is trading at $26,088.80, down from nearly $30K this month. At the time of writing, the market cap is just 1.38% down, standing at $508.11B whereas the trading volume crossed $12.48B with a 23.53% surge in the last 24 hours. Moreover, there are 92.70% of BTC is in circulation from its total market supply. Any effect on BTC would probably impact the altcoins in huge as the market drops globally. 

2) Ethereum (ETH)

The second most promising cryptocurrency and the top-most altcoin of all time, Ethereum (ETH) has an unlimited maximum supply in the crypto market. Also, the recent Ethereum Shanghai Capella, an upgrade to confer improved security and sustainability to the PoS Chain.

Regardless of the upgrade constraint, the investors are hugely trading ETH which is currently trading at a price of $1,652.12. The trading volume stands at $5,317,038,439 with a market cap of around $200M. Several whale transactions have resurfaced thus indicating the strongest buy signal among others. 

3) Ripple (XRP) 

Over the partial win of Ripple (XRP) in the SEC lawsuit, XRP was substantially supported by the larger crypto community. Even after the interlocutory appeal, Ripple has stood firm rather than stepping back over the fight with the SEC. During the court decision, XRP gained massive support thereby witnessing an increase in price.

Regardless of the case, the XRP Ledger featured decentralized exchanges (DEX) with tokenized capabilities that have been reliably built into the protocol. Having around half of its total market supply in circulation, the XRP trading at $0.511 at press time, after a 2.32% dip in the last 24 hours. 

Notably, the trading volume has seen a fall of over 4.58% and currently stands at $935,036,962, ranking 7th position on CoinMarketCap. Though XRP is not even close to its all-time high (ATH), the final decision of the Ripple Vs SEC case would support growth thereby awaiting a near future opportunity anytime soon. 

4) Polygon (MATIC)  

Polygon, Ethereum layer 2 scaling solution, has become the popular gateway for the enhanced adoption of crypto and Web3. One of the potential investment opportunities could be MATIC as the developments and innovations are making innovative projects contributing to the long-term gain and engagement of users. 

To mention, the Polygon’s zero knowledge Ethereum Virtual Machine (zkEVM) has seen an ATH in its transaction volumes. From the reports of PolygonLabs, it is evident that the total value locked (TVL) has increased by 70% considerably since the launch. Meanwhile, the price change on MATIC got affected irrespective of the growth potential of Polygon zkEVM.

Though the price has seen a fall, the investors remained strong. At present, the trading volume of MATIC has reached  $279,317,514, with a 3.26% increase in the last 24 hours. And, is trading at $0.5433 with a 2.04% dip. Over 93.19% of MATIC is in circulation which is around 9,319,469,069 MATIC tokens. To resolve transaction fees at lower costs, Polygon puts forth huge revolutionary measures for easier and more effective solutions. 

Importance and Advantages of HODLing

Despite the losses, cryptocurrencies continue to offer the potential for lucrative gains. These strategies involve long-term commitment, with investors remaining watchful of evolving challenges and opportunities. In contrast to short-term buying and selling tactics, the HODL approach emphasizes sustained holding. HODLing is rooted in the belief that despite the volatility, certain cryptocurrencies have historically shown commendable growth over time. 

In the dynamic realm of cryptocurrencies, risk assessment is paramount due to market volatility and sudden uncertainties. Yet, through the HODL strategy, crypto investors can potentially leverage the following advantages:

• They manage risks, harnessing long-term gains if prices rise over the period. This flexible approach minimizes fees and offers substantial profit potential. 

• By HODLing, investors have good chances to maximize their profits or returns on the crypto assets over the long term. 
• This strategy also aligns with the long-term vision of many crypto projects and promotes stability.

Challenges in HODLing

Clearly, hodling isn’t devoid of risks or challenges in the crypto market. The following are found to be the common challenges faced by crypto investors while hodling:

• During bear markets, long-term investors fail to resist the urge to execute impulsive or panic selling.
• The most common ones are security risks. The chances of losing your access to your keys and assets multiply over a long period.
• Long-term HODLers are subjected to panic as crypto regulations and adoption rates could get uncertain.

While navigating the crypto trade landscape demands strategic approaches, it remains a lucrative avenue for risk-takers who carefully research, time the market and execute trades. 

Recommended For You:

How To Buy and Use Crypto – A Guide for Beginners

https://thenewscrypto.com/sec-appeals-against-ripple-ruling-insists-xrp-is-a-security/

• The US SEC files a motion to seek an interlocutory appeal in XRP ruling.
• Ripple CEO strongly upholds that “the law of the land right now is that XRP is not a security”

The US Securities and Exchange Commission (SEC) has formally requested the court on Friday to grant an interlocutory appeal in relation to Judge Analisa Torres’s XRP ruling made on July 13.

The current appeal serves as a reminder of the progression of the court’s judgment thus far and the notable steps that remain to be taken before arriving at a final verdict. The SEC reflects its dissatisfaction with specific aspects of the court’s ruling.  

As per the court filing, Ripple Labs are allowed to respond on or before September 1, 2023, to the motion filed by the SEC. However, this recent appeal by the SEC has not yet been authorized by Judge Torres.

SEC’s Disagreements With the XRP Ruling

An interlocutory appeal is lodged for the purpose of reviewing a specific court ruling while the case is still in motion. Through this appeal, the SEC continues to oppose and regard the following two key holdings from the order as “legally insufficient”: “Programmatic” offers and sales of XRP and the cryptocurrency’s “Other Distributions.”

Though being held in other investigations on securities law infringements by crypto firms like Binance and Coinbase, the SEC is not giving up on Ripple. According to the SEC, the halt in between the appeal proceedings would lead to higher chances of settling the case without further trials in the Second Circuit. 

Notably, Brad Garlinghouse, Ripple CEO, and Stuart Alderoty, the firm’s Chief Legal Officer, persistently uphold the opinion that, “the law of the land right now is that XRP is not a security.”

On the other hand, at press time, Ripple’s XRP trading at $0.5057 after a 24-hour price drop of over 0.48% as per CoinMarketCap. The daily trading volume of 52.84% XRP tokens in circulation fell 44.70% to $1.57 billion. And, this seems to be one of the lowest levels over the last month as the price has dropped by 36.19%.

https://thenewscrypto.com/why-did-bitcoin-btc-fall-below-26k-after-june/

• Bitcoin price drops closer to the $26,000 margin, marking its 2-month low.
• BTC is locked in the greed zone, as the Fear and Greed Index points at 37.

The act of Tesla CEO Elon Musk’s SpaceX selling its giant Bitcoin (BTC) lump — worth $373M — turned about to be a striking Bitcoin FUD of the day. Amid this, distressing traders and investors, Bitcoin (BTC) dropped to its 2-month low, reaching below the $26,500 level.

Notably, according to the WSJ reports, SpaceX held $373M of BTC over the last year and also in 2021. Meanwhile, it is unclear whether the sold holdings of the satellite operator are true. It stands as mere speculation. This is also paired with the bankruptcy event of China’s real estate giant Evergrande. 

Current Status of Bitcoin (BTC) Price

At the time of writing, as per CoinMarketCap, the Bitcoin (BTC) price was $26,430 after a sharp fall of 8% in the last 24 hours. On Binance, BTC/USD marked its low at $26,081, as per TradinView data. This speculation-driven price decline eventually spiked the daily trading volume to 110%. 

On the daily price chart, the relative strength index (RSI) fell into the oversold territory. The price of BTC remains locked under the control of the bears with reference to the moving averages. It lies below the short-term 20-day exponential moving averages (20EMA) and 50EMA.  

Impact on the Bitcoin Investors’ Sentiment

The abrupt fall was minimally expected by the crypto analysts and predictors and it also pulled down the performance of the entire pack of altcoins. This crucial downtrend in the market pulled up the conventional dip trend, “Buy the Dip” on socials. 

Interestingly, the crypto analytics firm Santiment reported a surge in the social volume of the keyword “Buy the Dip.” This particular keyword has risen to attain the highest peak since April. But the panic prevails as clearly indicated on the Fear and Greed Index, which is currently at 37.

https://thenewscrypto.com/shib-price-falls-9-amid-bridge-issues-post-shibarium-launch/

• The network’s transactions have been frozen for at least five hours.
• SHIB’s price dropped by over 9 percent in the last 24 hours.

The Shibarium blockchain, an Ethereum layer-2 network that utilizes SHIB tokens as fees, went live on late Wednesday. Shibarium is part of a larger strategy that recognizes Shiba Inu as a potential blockchain initiative.

Developers are already adding functionality to its tokens through the Shibarium network in an effort to establish itself as a participant in the emerging field of decentralized finance (DeFi). Since the network will be using BONE, TREAT, SHIB, and LEASH tokens for blockchain-based apps, the demand for these tokens might drive up their values.

Apart from its usage as a cheap settlement for DeFi apps built atop it, Shibarium is claimed to have an emphasis on metaverse and gaming applications. In particular, the NFT industry is predicted to heat up in the coming years.

On the other hand, as per data from CMC, the Shiba Inu (SHIB) price dropped by over 9 percent in the previous day. Meanwhile, users experienced widespread bridge troubles after the launch of the much-touted Shibarium network late Wednesday.

According to blockchain statistics, the network’s transactions have been frozen for at least five hours. There was 954 ether (ETH) worth $1.7 million and BONE worth $750,000 that users had sent to the contract.

Shortly after users started reporting problems, they were prevented from posting on a related community topic on Discord. Shibarium’s shaky introduction to what was intended to be a low-cost, high-growth ecosystem didn’t have the start it had expected.

The crypto community awaits an explanation or a response with a statement on the issue. Meanwhile, so far the Shibarium team remains silent.

Related Crypto News:

Shiba Inu (SHIB) Price Prediction 2023

https://thenewscrypto.com/hedera-hbar-pumps-hard-is-fednow-the-reason-behind-it/

• Price of Hedera (HBAR) spiked 14% to reach its 4-month-high. 
• The maximum price surge led HBAR to attain the 13th-largest daily trading volume. 
• HBAR is now added as a payment option in the US Federal Reserves’s FedNow via Dropp.

The native token of the Hedera blockchain, HBAR, records the highest surge in trading volume and price in the last 24 hours. According to TradingView, Hedera (HBAR) rose 14% to hit its 4-month-high of $0.0726 on the largest crypto exchange Binance.

Notably, a massive volume surge propelled HBAR to advance as the cryptocurrency with the thirteenth largest daily trading volume. The altcoin surged over 1185% in the last 48 hours to attain a maximum daily trading volume of $308.6 million. As per CoinMarketCap data, the circulating 32.96 billion HBAR,  65.92% of the total supply, stood with a market capitalization of over $2,368,937,102 at press time.

FedNow — the Reason Behind The Price Surge?

The reason behind HBAR’s commendable 24-hour price gain is associated with a crypto-positive integration in the US banking sector. Fed Now, the Federal Reserve’s instant payment service, has enlisted Dropp, a micropayment service for small value transactions, as its service provider that helps it to harness the Hedera blockchain technology. 

The official blog stated that this is enabled at retail-level payment services for daily purchases and others. Notably, in its payment options, Dropp supports Hedera (HBAR), the stablecoin USD Coin (USDC) and USD. This integration turned out to be the catalyst for the bullish surge in HBAR.

Moreover, Dropp’s integration with high throughput and low latent distributed ledger technology makes it compatible with storing, transferring, and initiating other related NFT transactions. Additionally, it provides functionality support including customer credit transfers, requests for payments (RFPs), and also liquidity transfers. 

https://thenewscrypto.com/bitcoin-dominance-below-50-altcoin-season-coming/

• The prices of Bitcoin (BTC) and Ethereum (ETH) remained “steady” over the past week.
• The altcoin season continues to persist as per date in the meantime.

The popular crypto analytics platform Santiment highlighted the steady performance of Bitcoin (BTC) and Ethereum (ETH) over the past week. These largest market cap rank holders displayed no successful bounce from their apparent consolidation price ranges. Also, considerably BTC’s dominance is again below 50%. 

  The Steadiness in BTC and ETH

The largest cryptocurrency, Bitcoin (BTC), remains to maintain its price movement in the range of $29.3K to $29.8K since the last week. While the second largest — Ethereum (ETH) — experienced fluctuations within the consolidated range of $1.83K and $1.87K. 

Comparison of Price: BTC [Blue] vs ETH [Red] (Source: CoinMarketCap)

This period of reduced volatility continues to display positive surges in the daily trading volume of these dominant cryptocurrencies. BTC recorded a daily trading volume of over $10.53 billion, after surging 73.64% in the past 24 hours. Meanwhile, ETH noted a surge of over 84.25% to attain a daily trading volume of $3.95 billion.

Furthermore, the social volume has drifted to a drag of 10.8% in BTC and 23.04% in ETH, as per Santiment. Despite the steady movement of BTC and ETH, other altcoins ‘outside of the top 20’ market caps do register notable declines. 

Certain Altcoins Show Max Bullish Levels

But out of numerous altcoins, most memecoins have achieved their max peaks in market capitalization. Particularly, Pepe (PEPE) reigns on top. This viral memecoin surprises the community with its daily trading volume displaying a rise of at least 40% every 24 hours. 

Pepe (PEPE) 24H Price Chart (Source: CoinMarketCap) 

In the last 24-hour window, the memecoin’s volume noted a surge of over 70%. At press time, PEPE traded at a price of $0.00000142 with a 24-hour gain of nearly 7%. The hyped memecoin community bets more on a bullish PEPE price prediction.

The next top-performing altcoin was the Hedera (HBAR). Remarkably, HBAR is being spotted as the gainer of the day with a 14% surge in the last 24 hours. The jaw-dropping surge in this altcoin’s daily trading volume garnered great attention. As per CoinMarketCap data, Hedera recorded an increase of over 914% in its trading volume. 

Hedera (HBAR) 24H Price Chart (Source: CoinMarketCap)

At the time of writing, Hedera’s (HBAR) price was at $0.06431 with a market cap of $2.11 billion and a daily trading volume of $179 million.

In conclusion, such remarkable yet speculative pumps and the overall altcoin season continue to capture the attention of the crypto community.

https://thenewscrypto.com/visa-eyes-offering-blockchain-gas-fees-payments-with-fiat/

• Gas fees play a major role in every transfer of tokens through smart contracts.
• The proposed card-based gas fee payment is chosen as the user-friendly option.

Visa, an America-based multinational financial services corporation has brought an easier way of traditional payment services for the crypto industry. Post enabling auto payments for self-custodial wallets, Visa supports transactions towards blockchain gas fees. 

In a blog post published on Thursday, Visa said that testing of a mechanism that would enable customers to pay the on-chain gas fees in fiat currency through card payments had been completed. Taking use of the paymaster innovation, the business said their solution has passed all necessary tests on the Ethereum Goerli Testnet.

Easier Transaction

In the complex process of crypto transactions, gas fees play a major role in every transfer of tokens through smart contracts. Upon the work on rethinking digital transactions made with account abstraction, the  Visa card makes the transaction easier with Paymaster implementation. 

Also, the team aims to reduce friction on the blockchain with the conjunction of incorporating the paymaster concept with Account Abstraction. In this way, the proposed card-based gas fee payment evolves as a user-friendly option for digital transactions.  

The ERC-4337 core team implementation has stayed active on GitHub under GPL 3.0 license. Utilizing its own CyberSource, the developer team is supported by the needed SDKs and APIs. Though failing with the discrepancies, the proposed solution brings decentralized applications (dApps) for gas fee acceptance using Visa card payments. 

Related Crypto News:

Bitunix Exchange Now Supports Visa and Mastercard Payments

https://thenewscrypto.com/india-forays-into-web3-with-iwbdc-competition-launch/

• The IWBDC is an Open Challenge Competition by the Indian ministry.
• The browser foresees crypto token support for digitally signing documents.

Envisioning the crypto industry, India wants to explore more with the development of Web3. As per the press release from the Ministry of Electronics and Information Technology (MeitY) on Wednesday, the browser foresees crypto token support for digitally signing documents, which would further strengthen the security of online transactions and communications.

On the 9th of August 2023, MeitY hosted a Launch Programme for the Indian Web Browser Development Challenge (IWBDC) at the India Habitat Centre in New Delhi.

The IWBDC is an Open Challenge Competition aimed at motivating and enabling tech-savvy individuals throughout the nation to design a web browser that is both native to India and includes a trusted root certificate from CCA India.

This has become a welcome move toward crypto adoption as there was no action from the government so far. Meanwhile, it has also been mentioned that crypto legalization is been opposed by Central Bank already. However, the Central Bank Digital Currency (CBDC) is being promoted by the Central Bank. 

Moving Towards Web3

The press release has included that the secured digital transactions can be built with the help of crypto tokens in the launch of the Indian Web Browser Development Challenge (IWBDC), a public competition creating indigenous web browsers. 

The announcement wrote:

“The IWBDC is an Open Challenge Competition that seeks to inspire and empower technology enthusiasts, innovators, and developers from all corners of the country to create an indigenous web browser with its own trust store with an inbuilt CCA India root certificate, cutting edge functionalities and enhanced security & data privacy protection features.”

However, the Indian Finance Minister, Nirmala Sitharaman laid the base foundation on providing access to Unified Payments Interface (UPI) for crypto transactions back in May 2023. The Indian government wishes to support Web3 amid no clear regulations or laws regarding the crypto sector.

Prolongingly, this could help the crypto industry with enhanced security measures while considering cryptocurrencies. And, the IWBDC launch allotted $0.4M for the winner of the challenge and the deadline for submission is  July 1, 2024.

Related Crypto News:

Top Indian Crypto Exchange KoinBX Lists Worldcoin (WLD)

https://thenewscrypto.com/fireblocks-identifies-security-bugs-in-crypto-wallets-including-binance/

• Fireblocks uncovered the BitForge that affects 15+ wallet providers.
• Binance fixed the issue and the CEO of Binance thanked the Fireblocks team.

Crypto fraud and digital thefts are threatening the crypto community. Even the FBI (Federal Bureau of Investigation) has taken steps to alert the NFT scams to the users with a public announcement. Likewise, Fireblocks Network, a secure digital asset transferring network has identified the security bugs affecting wallet providers like Binance and others. 

The Fireblocks Cryptography Research Team has found a set of discrepancies and they are collaterly called BitForge. Moreover, this uses several implementations of Multi-Party Computational (MPC) Protocols such as GG-18, GG-20, and Lindell17.

Security Warnings from Fireblocks

Dividing the single private key from the multiple parties, MPC wallets help the providers with the secret sharing concept. This additive concept supports dividing and spreading the secret across a set of independent parties. There are 17 MPC wallets in the Web3 ecosystem, as per Alchemy’s decentralized application. 

Also, these BitForge provide zero-day vulnerabilities and refer to the discrepancy or a flaw that has been exposed but not solved in the device. However, a zero-day exploit means an attack that focuses on those vulnerabilities. 

Binance’s CEO Thanks Fireblocks  

The CEO of Binance, Changpeng Zhao thanked the Fireblocks team for identifying the issue that occurred in Binance. Moreover, the public source file of Binance, TSS Library Binance had been affected by BitForge. However, it has been fixed and the users can feel safe since no funds are affected so far.

Binance’s CEO has also mentioned, “Even MPC custody solutions have risks. Stay #SAFU!” Some of the impacted wallets including Zengo, Binance, and Coinbase are notified by Fireblocks and others are yet to be uncovered. 

Related Crypto News:

Binance Hires New Compliance Officer Amidst Ongoing Legal Probes

https://thenewscrypto.com/u-s-sec-fights-back-files-interlocutory-appeal-in-ripple-lawsuit/

• SEC seeks an interlocutory appeal in the legal case with Ripple.
• XRP has seen a 2% fall in the last 24H as per CoinMarketCap.

After the partial win against the United States Securities and Exchange Commission (SEC), the crypto firm Ripple had seen a market surge with a positive impact. The SEC said that it will be seeking an interlocutory appeal, which is a review of a judgment prior to the full trial’s conclusion. 

Moreover, in a statement released on Wednesday, Judge Analisa Torres said that she would want to have a jury trial for this case planned for the second quarter of 2024.

The letter to Judge Torres from the U.S. SEC indicates:

“Interlocutory review is warranted here. These two issues involve controlling questions of law on which there is substantial ground for differences of opinion as reflected by an intra-district split that has already developed.”

Furthermore, the U.S. SEC added that there needs a certification of the court’s decision claimed by Judge Torres on Ripple’s securities. Concerning this, an attorney of Criminal Defense, James K. Filan condemned the legal battle proceedings of the SEC on the pending appeal, as an unexpected event at the moment.

Thereby, the XRP’s price has been facing a fall of around 2% compared to the previous day. Also, there was a surge of 31.85% in trading volume over the last 24 hours. Moreover, the market cap has dropped 2.43% amid rising concerns over another prolonged legal battle.

At the time of writing, XRP is trading at $0.6289 according to CoinMarketCap. Meanwhile, as per Judge Torres, the case has been kept on hold with the other issues coming up. And, it depicts the reassurance demanded by the SEC as the Judge has ruled out the judgment for the upcoming second quarter of the year 2024.

The U.S. SEC continues to enforce regulatory scrutiny on the industry so that the laws and restrictions are maintained by the firms. When the crypto community felt that the battle between Ripple and the SEC has just ended, there comes another unexpected appeal being raised by the SEC. 

Related Crypto News:

U.S SEC Hints at Appeal in Ripple Lawsuit; Setback for XRP?

https://thenewscrypto.com/altcoins-pumping-hard-as-bitcoin-btc-touches-30k/

• The BTC price faced a brief pullback and is now currently trading at $29,784.
• Altcoins like SOL, TON, and HBAR surged once BTC hit $30K.

The crypto community is excited as once again Bitcoin (BTC) touched $30K. Although the price has faced a brief pullback and is now currently trading at $29,784.76 as per CoinMarketCap, at the time of writing. As soon as BTC touched the surface of $30K, the bulls and the bears in the market stood for a fierce battle. 

Whereas, the analytics platform, Santiment reports that other cryptocurrencies like Solana (SOL), Toncoin (TON), and Hedera (HBAR) have shown a similar price rally. Altcoins like these are leading the way with price surges, depicting bullish momentum. 

Moreover, Ethereum (ETH) price also gained momentum and reached the $1872 mark. However, similar to BTC, it faced a brief pullback and is now trading at $1852. The trading volume of ETH witnessed a 19.71% surge in the last 24Hr. 

Will Altcoin Season Sustain For a Long Time?

According to CoinMarketCap, SOL is trading at $24.88 over a 6.62% surge in the last 24Hrs. Thereby, the market cap crossed more than $10B with its trading volume of around $570M at an increase of 59.03% over a day. 

Next, TON has witnessed a 5.32% surge and is trading at $1.29. And, the trading volume has also witnessed gains compared to the previous day, standing at an increase of 22.61% worth $29M over a market cap of around $4.5B. This shows that the traders are involved in purchasing and selling these altcoins following a bullish sentiment amid FOMO.

Lastly, HBAR is fluctuating over the day and is currently trading at $0.06165 a 4.05% surge in the last 24 hours. Also, it witnessed an increased trading volume of about 48%. HBAR is showing bullish traits amid positive market momentum.

Related Crypto News:

Bitcoin Bulls and Bears Battle as BTC Touches $30K & Falls

https://thenewscrypto.com/pepe-memecoin-pumps-over-12-surge-in-the-last-24h/

• PEPE is trading at $0.000001203 post a 12.70% pump.
• A whale purchased 807B PEPE tokens by selling 1M USDC.

On Wednesday, PEPE, a deflationary memecoin faced a sudden pump of around 10.78% according to CoinMarketCap, a crypto analytics platform. This surge is despite the fact that a recent whale dumped a huge amount of PEPE when it was trading at $0.000001121. Overall, the whale sold 2.26 trillion PEPE worth $2.53 million over a $707K loss.

On the other hand, the same whale has purchased BALD tokens by selling over 1.1K Ethereum (ETH) worth $2.01M. Considerably, the current status of PEPE seems bullish and the investors are rushing harder for PEPE purchase.

From the reports of DeBank, it is noted that another whale acquired a whole of 807B PEPE tokens when the trading price hit $0.000001239. Spending a million of USD Coin (USDC), this transaction has been reported with a gas fee of about 0.033 ETH. 

Current Status of PEPE

Being launched on April 2023, PEPE has gained massive popularity among the crypto community next to the other popular memecoins like Shiba Inu (SHIB), and Dogecoin (DOGE). As per CoinMarketCap, PEPE is trading at $0.000001225 with a market capitalization of around $464.32M in the last 24 hours. 

The trading volume has crossed more than 100% at the time of writing. Moreover, the circulation supply of the PEPE is around 93% which is 391.79 trillion PEPE of its total supply. Also, PEPE remarks as the top gainer of the day across other cryptocurrencies. 

The buyers are held in large purchases of PEPE and there is no surprise of spotting yet another whale appearance in the market. Again, the technical stats depict a huge buying signal with a green dominance showing growth.

Highlighted Crypto News Today:

Pepe (PEPE) Price Prediction 2023

https://thenewscrypto.com/cardano-ada-pumps-with-increasing-whale-accumulation-reports-santiment/

• Cardano reaches 8th rank with a $10B market cap, as per Santiment. 
• Currently, ADA is trading at $0.29 with a 0.69% dump in the last 24H.

In accordance with the metrics and records of Santiment, an analytics platform, the sharks and the whales of the crypto world have accumulated Cardano (ADA) to its current rise compared from its highest since 2022. Moreover, ADA has reached 8th rank with its market capitalization of around $10 billion.

Considering the transaction volume of ADA, Santiment reports that the last week remarks the consecutive rise of over 67 billion. Meanwhile, the effective accumulation of Cardano among the crypto investors in the last 6 months is huge. Around 100K to 10M ADA holdings are recorded so far and have included more when the price hits $0.29. 

The Cardano wallets have accumulated more than $116M since 21st May of 2023. Currently, ADA is trading at $0.292 which has fallen by 0.69%. The on-chain transaction volume is hitting an increase with the concern for graphical statistics. 

The technical analysis shows that the buyers turned more assertive towards Cardano purchases. Moreover, the whales and sharks constitute the dominance of ADA holders in the bullish state despite the price drop. Furthermore, the recent Q2 report of Messari revealed the decentralized application (dApp) transactions with the tech stats. 

Cardano’s development team is aggressively working towards creating an effective performance than Ethereum’s development team. Thereby, there is no such launch set for the end of 2023 yet the GitHub repository is active with robust activity. 

Related Crypto News:

How is Cardano (ADA) Performing as of 2023?

https://thenewscrypto.com/fbi-cautions-against-nft-scammers-impersonating-project-creators/

The FBI has published a PSA alerting consumers against non-fungible token (NFT) scams in which fraudsters pretend to be the creators of well-known projects.

It was noted that the criminals hijack the accounts of NFT developers and undergo digital theft activities by draining the victim’s wallet. Also, an alert number is been activated by the FBI as a safety measure. Alongside, questions can be raised to FBI Field Office with regards to PSA, said the agency. 

FBI Alerts on NFT Scam

Criminals come up with new possible ways to cheat NFT users through social media. One among such is hijacking the profiles and draining the user’s wallet. The criminals impersonate the social profiles and provide new collections of fake NFTs with keyphrases like ‘limited supply’, ‘surprise’, or any unannounced mints.  

FBI seeks the urgency to intimate users as these operations are likely happening in and around. Making it clear, the FBI states in PSA that the victims are redirected to spoofed websites so that the criminal profile might look familiar and legitimate to buy the NFT with cryptocurrency transfers. In this way, the victims drain their wallets. 

In addition, the PSA read:

“Contents stolen from victims’ wallets are often processed through a series of cryptocurrency mixers and exchanges to obfuscate the path and final destination of the stolen NFTs.”

Tips to Protect NFT Users

Furthermore, this announcement adds certain tips to protect the accounts of NFT users from illegal theft. FBI indicates that any type of surprise NFT offers are termed suspicious so the background study of past announcements and mints is necessary to be checked before purchasing. Verifying the legitimate accounts of the particular NFT developer is important including their identification in the profile. 

If any account is found to be suspicious or fraudulent then referring or raising a complaint to the FBI Internet Crime Complaint Centre, is appreciable. Also, it would be better to mention ‘NFTHack’ in the complaint including their scam activities, says the FBI. 

Related Crypto News:

Top NFT Projects By Social Activity 2023

https://thenewscrypto.com/elon-musk-sets-off-a-frenzy-crypto-boom-upcoming-or-are-tokens-just-twitter-chatter/

• Elon affirmed that X won’t launch any crypto token.
• Crypto investors on FUD; DOGE falls by 1.15% in 24H.

The second week of August started with a boom in the crypto market where the unfortunate announcement spread around. The Boss of Twitter (known as ‘X’), Elon Musk has denied the launch of a crypto token for X. Following this denial of scam and rumors by Elon, Dogecoin (DOGE) went on an abrupt surge of over 2% which led to bullish momentum. As per the previous view on DOGE, it felt evident that Elon’s promotion had an impact.

As of a recent update, Elon Musk said, “Never will X launch a crypto token.”

Elon Musk Blowing Cryptocurrencies

According to Forbes, Elon’s declaration creates wild speculation which might blow up the prices of cryptocurrencies like Bitcoin (BTC), Ethereum (ETH), Ripple (XRP), and Dogecoin (DOGE). Certain crypto analysts have predicted that the bearish sentiment might affect crypto trading. As it was believed that Elon promoted DOGE, now it doesn’t reflect the same whereas the recent surge on Friday has fallen by 1.15% according to CoinMarketCap. 

The global crypto market cap has decreased by 0.08% compared to the previous day. With the chance of the crypto market breaking down the wall, Elon’s stance of bringing up the price is higher. However, Elon considers the unlikely rumors being spread with no proper affirmation from X. 

On August 6, 2023, Elon tweeted, “We just keep making X better and better, every day.” Meanwhile, Mark Zuckerberg, the CEO of Facebook (termed ‘Meta’) commented, “Threads will copy and become better and better too.”

Irrespective of the crypto community, the newer version of Twitter, X has bought changes into trading. The use of eToro if X doesn’t work as a crypto trading platform, might be useless. By the way, the curiosity of eToro was awakening at the moment of its arrival and Elon had an optimistic view over cryptocurrencies.  

Confusingly, the crypto investors are yet trading and the digital form of currencies might rule the nation in the future days as UPIs do up to date. The crypto market faces criticalities during the end of Q3. Challengingly, Q4 might turn effective towards the crypto market and its growth.

Related Crypto News:

Will Elon Musk Tweet About Pomerdoge Next?

https://thenewscrypto.com/altcoin-news-xinfin-xdc-price-witnesses-bullish-momentum-amid-fomo/

• XinFin’s XDC ranks 43rd on the Santiment analytics platform.
• It seems that the buyers are more assertive than the sellers at this time.

According to the metrics by Santiment, an analytics platform it is noted that XinFin (XDC) ranks 43rd position with a market capitalization of around $1 billion. Meanwhile, the XDC price recently witnesses a 15% and reached a recent high of $0.092.

The token’s price has shown a bullish trend, increasing by 40% during the preceding month. On Friday, XDC’s price touched $0.091 as the crypto traders and investors were piling up the token amid FOMO. As a result of this, the XDC community has started increasing its production rate.  

XinFin (XDC) Chart (Source: Santiment)

Consequently, the social dominance has predominantly reduced yet the XDC community is showing dominance in the development activity especially when the price peaked at the recent high, yesterday.

It seems that the buyers are more assertive than the sellers at this time. XDC price is indicating that bulls are in charge, despite a minor correction in place.

According to the technical analysis, XDC is trading inside a bullish range, with more gains likely. The likelihood of the rise continuing will be strong so long as the XDC price is over $0.05000.

Related Crypto News:

XDC Hits One-Year High, Surges 300% in the Bear Market

https://thenewscrypto.com/how-is-cardano-ada-performing-as-of-2023/

• Messari’s report on Cardano has revealed key metrics on dApp transactions.
• Cardano climbed the TVL ranks from 34th to 21st among all chains through 2023.

Bringing up promising developments in blockchain technology with innovation has been the activity of Cardano (ADA) in recent times. Meanwhile, crypto investors await the usual monthly performance in the crypto market. 

The overall crypto market is currently down by 0.42% in the last 24H at the time of writing. Alongside, the trading volume of ADA has drastically fallen by 33.20% in its current circulation supply of around 35,017,542,397 ADA which is nearly 78% of its total supply. Also, the market capitalization dropped comparatively over the last week. Thus, losing out the 7th spot to Dogecoin, and now ranking in the 8th position as per CoinMarketCap. 

Cardano’s Q2 2023 Analysis

Messari, the leading provider of crypto market intelligence products has shed light on the performance of Cardano in Q2 2023. This gives key insights including the Cardano transactions on the Quarter on Quarter (QoQ) variation in the decentralized applications (dApps) along with the overall technical measures.

Providing prioritized security and sustainability to the dApps, Cardano proceeds ahead toward the Voltaire phase together with the group of community developers supported by multiple entities. As of June 30, 2023, the percentage change of QoQ in Cardano noted from various sources is pointed out by Messari. 

The average daily volume of dApps trades increased by 49% quarter over quarter. While Minswap’s growth was the highest, other new dApps helped the overall rise. TVL (USD) was up 9.7% QoQ and 198.6% YTD. Cardano climbed the TVL ranks from 34th to 21st among all chains through 2023. Hydra Proposed topologies, enthusiasm from ecosystem teams, and an exhibited demo all indicate that work is proceeding apace.

Cardano’s Development 

As per crypto analyst Ali, Cardano’s Github repository performance in development activities has been 3x compared to Ethereum’s. The analyst also mentioned that Cardano’s Founder, Charles Hoskinson, and the IOHK team deeply raced as 3rd generation blockchain platform. 

The efficient work with their dedication has proven results on Cardano over the graph metrics shared by Ali. The GitHub repository is been actively performing well and is robust with strong network security. 

On the other hand, several dApps of Cardano aren’t set to launch by the 2023 end due to their challenges and operational factors. Yet, the surge in other parameters might give a boost to evolve over this situation. 

Related Crypto News:

Cardano (ADA) Price Shows Resilience; Possible Upside Ahead

https://thenewscrypto.com/shiba-inu-shib-rolls-back-with-a-17-surge-in-a-month/

• SHIB surged by 5.50% in the last 24 hours. 
• Consequently, the burn rate has faced a drop of 71.81%.

Shiba Inu (SHIB), one of the popular memecoin cryptocurrencies has surged abruptly with an increase of 5.50% in the last 24 hours. Meanwhile, SHIB gave a jaw-dropping moment in regard to its last month’s performance with a 16.16% surge.

Considering the technical statistics of Shiba Inu, the support and resistance levels are marked as $0.00000830 and 0.00000841 respectively. According to CoinMarketCap, SHIB is trading at $0.000008658 with a volume of 42.11%, ranking 20th position. 

Shiba Inu (SHIB) 24H Price Chart (Source: CoinMarketCap)

SHIB has a market capitalization of around $5.1 billion which has skyrocketed to an increase of 5.25% compared to the previous day. As SHIB counts the infinite maximum supply, the current count falls more than 589T of SHIB tokens in circulation. 

SHIB Burns & Whales Activity

In the last 6 hours, there are two SHIB transactions as per the automated records of Shibburn. Also, the burn rate has faced a 71.81% drop. 

SHIB Burn (Source: Shibburn)

Moreover, there is no unique anticipation of SHIB whale activity over the last week. Yet, there has been a staggering transaction volume of around 1.13T SHIB tokens on its third anniversary day. This is recorded by IntoTheBlock data on Wednesday. 

Highlighting Crypto News:

36 Trillion Shiba Inu Remain Profitable for Active Addresses During Market Downturn

https://thenewscrypto.com/litecoin-ltc-ranks-next-to-bitcoin-btc-with-34-increase-in-transactions/

• LTC crypto payments increased by 34% on BitPay records. 
• Litecoin Halving impacted LTC price with a 5.77% drop in the last 24H.

After the last halving event on Aug 5, 2019, Litcoin Halving happened yesterday (Aug 2, 2023) as per the schedule. The expectation of the halving event kept predominantly to impact the price with a surge yet the result ended up with a drop of 6% in approximation. However, a total number of 2,520,000 blocks has been mined for the third Litecoin Halving resulting in a reduced block reward of about 6.25 LTC.

Over the past week, Litecoin (LTC) dropped by 5.70% even after halving occurred. Currently, the LTC is trading at $86.15 with a fall of 5.77% in the last 24 hours. 

On the contrary, CoinMarketCap, the analysis platform records the trading volume of Litecoin with a surge of 15.35% worth $862,766,359 during the time of writing. This shows that investors and traders are rushing to trade LTC as the price drop. On the other hand, LTC transactions are beating the race of crypto payments with the second rank on BitPay, the leading crypto payment service provider. 

Is LTC Ahead of BTC on BitPay?

As per the statistics shared by Litecoin on Twitter, it seems bullish over the transactions and the crypto payments happening on BitPay. Compared to the previous month, there is a plunge of 34% in LTC transactions on BitPay.

Consumers and users have been utilizing crypto payments for a long while. Currently, Bitcoin (BTC) tops amongst the other crypto payments with 36.47% in the month of July on BitPay. With respect to the graph of the last 5 months shared by the Litecoin Team on Twitter, it is noted that BTC has always topped and LTC stayed next to it on BitPay.

Moreover, the payment scale has decreased overall for BTC. Meanwhile, Litecoin gains popularity among the crypto community as the trading kept increasing day by day. Also, the hashtag #PayWithLITECOIN is initiated by the LTC team for crypto payments through BitPay. 

Highlighted Crypto News Today:

Litecoin Halving Finally Completed; Surprisingly Price Drops 6%

https://thenewscrypto.com/can-artificial-intelligence-ai-use-ethereum-eth/

• AI agents will be the primary consumers of Ethereum blockspace by the 2030s, says Bankless Founder.
• ETH’s current price has fallen by 2% in the last 24 hours.

Ryan Adams, Founder of Bankless recently tweeted on Ethereum blockspace stating that AI agents will get to the primary consumers by the 2030s. AI would serve the human nation with needed services is the expectation. 

As per him, effective services could include money, banking, property rights, contract law, capital information, and others as well. AIso, Ethereum is hugely supported to be used for Artificial Intelligence projects like Robots. He added, ‘Ethereum is a property rights system for the robots.’

Is Ethereum for AI Robots?

The most popular altcoin, Ethereum is being considered to be used for Artificial Intelligence (AI) in the forthcoming years. On the other hand, Indian crypto Influencer Hitesh Malviya has commented that Ethereum would be the worst choice for AI.

According to him, training with a small MNIST (Modified National Institute of Standards and Technology) neural network would preferably take approximately 8 minutes on laptops. Yet, if chosen with Ethereum, then it would prolong the training for approximately 80 days with a cost of around $32M.

Ethereum’s Recent Activity

This August would bring a breakthrough in Ethereum (ETH) price as the current market price drops around 2% in approximation with respect to today. However, the investors held in trading over a surge of 21.07% worth $5,683,165,628 with the 3rd position in ranking according to CoinMarketCap. 

Moreover, the domination of the red signal is higher comparatively than the green signal in the last 24H price chart. Ultimately, it depicts the bearish momentum in the ETH market.

 The near future prediction of ETH price is expected to reach $2K. The price analysis of ETH prevails as it oscillates with a slight drop and plunge alternatively. If Ethereum blockspace is utilized for AI agents then the price would remark more than $2K nearly possible. 

Highlighted Crypto News Today:

Ethereum Price Consolidates; Awaiting Potential Breakout

https://thenewscrypto.com/xrp-slumps-2-5-yet-adds-1200-accounts-in-a-day/

• So far, there are 3.2M XRP accounts exist in the crypto market. 
• XRP drops by 2.15% compared to the previous day.

Ripple, the open-source blockchain payment protocol that skyrocketed the whole crypto market with its win over the SEC, is once again making headlines with remarkable new additions, buzzing across social platforms.

It is noted that XRP has enlisted around 3.2 million accounts so far till July 25th of the year 2023. Also, the average count of XRP tokens in each wallet falls to 12,350.86. Last week, the XRP traders stepped back, leading to a drop in the trading volume by 44%.

But today, the participation of investors involved in trading has increased. However, this gives an average of about 1,166 newer accounts on a daily basis. Hence, it drew a linear line prolonging over time being upward. 

XRP’s Activity Status

Recently, Coinbase relisted XRP again once the case against SEC. As of July, XRP is quite active. Nevertheless, the engagement of distribution has crossed nearly 48 billion. Overall, the distributed XRP counts 47.9% and the rest is around 52.1% with respect to July month. 

According to CoinMarketCap, the current market price of XRP is fallen by 2.5% which ranges to $0.7054. And, the crypto investors are held in the active status of trading XRP which reports an increase of 31.59% in trading volume; ranking 7th position.

Yet, the price chart of the last 24 hours drifts down reflecting a red signal. Countably, the maximum supply of XRP ranges to 100B tokens whereas the circulating supply just matches 52.69% of its overall supply in the crypto market. 

Related Crypto News:

XRP Investors on Edge as Trading Volume Plunges

https://thenewscrypto.com/as-litecoin-halving-nears-ltc-holders-increase-exponentially/

• Litecoin (LTC) halving is expected to bring a scarcity in LTC supply.
• The trading volume kept increasing irrespective of the LTC drop.

Litecoin Halving, the recent talk of the town is approaching the crypto world in just three days. However, the Litecoin (LTC) holders are rushing up as the halving is just away reported Santiment, a platform of behavior analysis. 

LTC Holders’ Activity

With the analysis of crypto enthusiasts and traders, this event is considered to be an aggressive bullish push in the crypto industry. 

According to Santiment, the coming Wednesday might hit the Litecoin holders to trade in the range between $9.5k and $950k. To mention, the dolphins and the sharks stacked 205.4K LTC in their wallets till the 14th of June 2023. 

Meanwhile, the records say that the Litecoin network has involved in 33M transactions in the last 6 months till June. Currently, the market price has sloped down by a 1.03% range at $93.79. Nevertheless, the 87.48% circulating supply is surging the trading volume with a surge of 17.70% ranking 9th position in CoinMarketCap.

Litecoin Prediction and Updates

Considering the long-term prediction of LTC, the bullish price might reach up to $134.57. There are expectations that there could be a 50% surge in the next 7 years as per the predictors.

Now, the social engagement of the LTC is getting huge and the participation of traders and investors hitting the majority of the crypto community. As per LunarCrush, Litecoin makes the strongest combination of trading and social engagement in the crypto market. 

Regarding the upcoming third Litecoin halving, the schedule is set for August 2nd of 2023. This time, the block reward would reduce to 6.25 LTC for the miners; this exists when 2.52M blocks are mined overall. There is a possibility of increasing scarcity as nearly 87% of coins are mined and the rest would fall in demand.

Related Crypto News:

Litecoin Halving 2023: Predictions and Crypto Market Impact

https://thenewscrypto.com/bitcoin-news-kyrgyzstan-to-build-crypto-mining-farms-president-approves/

• Kyrgyzstan government to build $20M worth of crypto mining farm.
• The country’s president gives a promise to distribute money to the ordinary people.

In Kyrgyzstan, the crypto mining farm will be built for $20 million, says President Sadyr Japarov with a nod. As per the reports of July 27, the Hydroelectric Power Plant under the government of Kyrgyzstan will be built. 

Back in 2010, the Kambar-Ata-2 was launched that lost 6.8B KiloWatt-Hours (kWh) of energy in Kyrgyzstan, highlighted the President. The state of emergency energy sector will be activated from August 1, 2023, as per President’s announcement on Monday. However, it ends on December 31, 2026. 

Cryptocurrency Development in Kyrgyzstan

The representatives of the Kyrgyzstan government look forward to bringing an opportunity to enhance local revenue with the help of cryptocurrencies. In March 2022, lawmakers had a chance to operate cryptocurrency as a legal industry since it grows faster than anything. 

Yet, the government didn’t rely on any laws to prospect the regulations of crypto platforms in the country. However, it is noted that one of the government officials held an argument stating that crypto mining drives more energy which causes a crisis in Kyrgyzstan. 

Now, this act of bringing hydro-powered crypto mining will be helpful in distributing money to ordinary people. Also, this has been termed as a promise from the Kyrgyz President.

https://thenewscrypto.com/us-financial-committee-chairman-to-pass-landmark-legislation-on-stablecoins/

• Chairman Patrick McHenry brings legislation on Stablecoins.
• Coinbase team applauds the step towards consumer protection for the Stablecoins Payment Act.

The Chairman of the Financial Services Committee of the United States, Patrick McHenry, who is serving the tenth Congressional District has introduced the Clarity for Payment Stablecoins Act through Bipartisan vote. In Washington, this Thursday, Chairman McHenry laid the foundation for regulating the stablecoin providers with strong consumer protection. This is with respect to the federal guidelines before any incident could happen, as mentioned. 

In total, there are seven bills that have been remarked from the Financial Services Committee supporting the legislation. Out of which, the “Clarity for Payment Stablecoins Act of 2023” brings the newer evolutions in the U.S. with an adaptable approach into the subjective marketplace.

Payment Stablecoins Act with Consumer Protection

Chairman McHenry in collaboration with multiple parties over the past fifteen months, finally came one step closer to make the legislation, a law. 

Protecting consumers is a valuable way of keeping investors on track by ensuring safety and security. Moreover, this Payment Stablecoins Act might enlighten the crypto community with secured trading. 

In April, the House Committee kept the Financial Services on the Stablecoins to be on hold yet the current legislation has come up with the effective chances of secured payment.

Payment Stablecoins Act Gets Support From CoinBase

The Chief Policy Officer of Coinbase, Faryar Shirzad congratulated Chairman McHenry for bringing the Clarity for Payment Stablecoins Act. 

However, he also pointed out that the support for the necessary act across the line paved the way through bipartisan voting.

Brian Armstrong, the CEO and Co-founder of Coinbase has given an astonishing response praising the effective step ahead towards consumer protection. The term ‘huge’ determines the necessity of payment over the stablecoins and the CPO of Coinbase pointed out, “It’s been a historic week.”

Related Crypto News:

The Rise of Stablecoins: A Secure Haven for Investors

https://thenewscrypto.com/bitcoin-whales-move-btc-to-binance-dump-incoming/

• BTC whales transacted a huge count to unknown addresses.
• Bitcoin struggles to reach $30K, prolonging its oscillation in a surge.

Being the most popular cryptocurrency, Bitcoin (BTC) has set its back soaring higher compared to the previous year. As per the reports of the whale alert, a huge number of whales are activated transferring Bitcoin, on Thursday with a transaction fee of 0.00002938 BTC worth 0.86 USD. 

The whale has transacted through a hash address called ‘e0732fb6bbd..0638947d11’. Meanwhile, the sender has sent through the cryptocurrency exchange, Binance from ‘178APgmkT6…SiyrH7Fqu6’ to the receiver ‘1PgK9xduNJ…W2wLVTMKiv’. 

A whole of 2,459 BTC at the current market price value of 72,661,201 USD is sent to an unknown wallet in Binance. The crypto community is stunned by such huge BTC transactions and this has brought curiosity to the crypto market. 

Collaboratively, another BTC whale has moved 850.01 BTC to an unknown address with a transaction fee of 0.00002712 BTC (0.79 USD). This transaction happened from another sender address ‘1EZF2PDyLK…ZbxQbfvQ2g’ to the same receiver mentioned above. 

This seems that the receiver from Binance has stacked a set of large numbered BTC in the wallet. This anonymous transaction highlights the most effective whale alert among the crypto community.

Current Status of BTC

According to CoinMarketCap, the price of BTC has surged to 0.58% with the market capitalization worth $572,483,733,903 at the time of writing. Moreover, the trading volume has kept increasing by more than a quarter percent which is exactly 26.29%. 

Bitcoin (BTC) 24H Price Chart (Source: CoinMarketCap)

Throughout the day, the price graph points bullish rather than the bearish state; with a dominating green signal. The BTC miners are facing difficulty yet the trade and demand kept skyrocketing over 92.57% of the current market supply.

When compared to the last 7 days, the market capitalization slopes down from the middle of the week and tries to rush high as possible. Currently, BTC’s market cap ranks the first position in the CMC. 

Highlighted Crypto News Today:

Bitcoin (BTC) Price Prediction

https://thenewscrypto.com/ethereum-eth-price-analysis-eth-is-dominating-btcs-trading-volume/

• ETH price hovers above the $1,880 level after noting a 24-hour gain of 1.40%.
• The surge in Ethereum’s daily trading volume exceeds that of Bitcoin.

Ethereum (ETH), the second largest cryptocurrency, stabilizes within the $1,880 range, highlighting reduced price volatility. Meanwhile, next to Bitcoin, Ethereum was expected to cross $2K yet the uncertainty flows along.  

In the past 24 hours, the trading volume of Ethereum (ETH) recorded a surge of over 33.41% to reach $5,780,720,995. While the top rival Bitcoin (BTC) experienced a spike of 27.29% in volume. 

Ethereum (ETH) Price Analysis

Ethereum’s price movement over the past week reflected its intense bearish market stance. But according to the daily price chart, the current price action crossed above the short-term 50-day exponential moving average (50EMA), denoting its attempt to enter the bullish state. 

When daily RSI is taken into account, it can be clearly noted that ETH is heading toward neutral territory (at 50). Meanwhile, the Chaikin Money Flow (CMF) fell below 0 to denote a negative outlook in terms of the bulls’ accumulation and capital flow. 

As per CoinMarketCap, at the time of writing, the market price of ETH was $1,876 with a 24-hour gain of 1.40%.

Bearish Monthly Outlook of ETH 

The decline and consolidation of the Ethereum price within the $1,880 range, coupled with lower levels of volatility, has led to losses for Ether traders. Consequently, the number of Ethereum addresses in loss reached a monthly high of 34.16 million on Thursday.

The amount of Ethereum that has been last active between the last one and two years attained a new one-month low of nearly 19.98 million ETH, as per the on-chain data from Glassnode. This data denotes a slight drop in the HODL pattern of Ethereum investors.

Highlighting Crypto News Today:

Ethereum (ETH) Sets Impressive Record, Reports Unveil Monumental Milestone

https://thenewscrypto.com/bitget-rebrands-buidling-trade-smarter-community/

• Bitget brought an efficient trading environment with a rebranding story.
• Bitget hits an enthusiastic 5th-year anniversary, this September.

Bitget, a crypto platform has brought some innovations with its rebranding in a smart way. In order to bring an efficient and safe environment for the crypto industry for trading, engagement, and commitment. 

List of Bitget Upgrades

The newer vision of crypto trading is enabled by the wisdom of empowering the crypto community. The ‘trade smarter‘ term is set as the tagline of Bitget which means that enhancing the newer technological standards like Artificial Intelligence to support the community for trading. 

The change in logo put forth an eye-catching style with an effective interface for safe and easier crypto trading. Moreover, Bitget has announced the upcoming official website along with an application named ‘Bitget App’ in several UI. 

There are core corporate values added with respect to usability, partnerships, and the whole crypto industry. They primarily focus long-term  three core values includes:

> Do the right thing

> Honesty earns trust

> Turning wins into “win-wins”

Furthermore, the change of slogan highlights the investors with the encouraging potential and it goes like “Better trading, Better life.” Meanwhile, the trading contributors have been seeking investment tools for future purposes, and Bitget makes it seemingly possible with newcomers to the financial markets.

Future of Bitget

By incorporating better features, Bitget aims to collaborate with traders in the smarter way possible. Back in 2020, Bitget was the first-ever cryptocurrency exchange to begin the copy trading ideology. 

However, Bitget has elongated in a way better than years ago. As the fifth anniversary of Bitget, it gets excited to share the crypto users reaching 20M milestones with an integrated wallet called Bitkeep. Hope the Bitget community reaches the crypto market with better services to indulge in and to the newer enthusiastic chapter ahead. 

https://thenewscrypto.com/cftc-vs-binance-cz-hits-back/

• CFTC has raised a court filing against Binance and its CEO.
• Binance claims to increase the page limit by 50 for the Memoranda of Law.

On Monday, the United States District Court in Chicago shared a plaintiff from Commodity Futures Trading Commission (CFTC) with its defendants who are Binance and its CEO and Founder. Changpeng Zhao, the CEO tries to submit a dismissal motion for the complaint that has been filed against them. 

Reports portray that the response time limit was set till the 17th of July. Also, the complaint extends the addition of a new page limit:

‘.. given the complexity of the CFTC’s Complaint and the number of arguments Defendants anticipate making in support of their Motions to Dismiss.’

The accusation includes several violations of working with illegal virtual asset exchange in the nation. Binance and their prominent representatives intend to dismiss the court filing including the former chief compliance officer in Binance, Samuel Lim. 

Back History of the Battle

The battle has begun in March when CFTC’s lawsuit was found disappointing to the crypto exchange which ended up suing Binance. Later, the U.S. Securities and Exchange Commission (U.S. SEC) sued Binance and its CEO, Changpeng Zhao in June. The SEC action is due to considering the violation of securities laws.

Current Status of Court Filing

The reason behind the complaint raised by CFTC is the alleged violations of the Commodity Exchange Act and some other federal regulations. Furthermore, the defendants wish to expand the page limit to 50 on Local Rule 7.1 for the Memoranda of Law which currently stands at 25 pages. Also, the opposition isn’t raised by CFTC counsel against the defendants.

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