https://thenewscrypto.com/whale-sells-6-3m-in-ethereum-prompting-questions-on-taking-profits/

• An anon Ethereum wallet holder sold 3,150 ETH worth over $6.37 million.
• The sale occurred on Sunday at an average price of $2,023, representing a significant return in just two months.
• The whale’s sizable sale prompts debates on market sentiment.

The sale of 3,150 Ethereum worth over $6.37 million by a crypto whale is sparking debate on whether investors should take profits after the token’s recent rally. The heavy transaction comes as Ethereum hovers below a technical resistance level that has repeatedly triggered sell-offs historically.

According to on-chain data, the unnamed Ethereum wallet holder sold 3,150 ETH on Sunday at an average price of $2,023 – netting a tidy profit from an earlier purchase in September of 2,762 ETH at $1,825 per token.

The $6.7 million transaction represented a nice return in just two months. But the motivation behind such a large individual sale provides broader clues on market sentiment.

Ethereum faces make-or-break resistance

Ethereum currently faces make-or-break resistance around the $2,050 level, where bulls have struggled to make headway over the past six weeks. The test presents large players with a dilemma: securing gains from the bounce off 2022 lows or continuing to ride the expected upside heading into the Shanghai upgrade next March.

The whale’s choice to bail suggests conviction may be wavering on the sustainability of the recent rally. Moreover, the move aligns with fading trading volumes across exchanges, indicating exhaustion from the buying frenzies seen this fall.

For regular investors, the fading momentum compounds the case for selling a portion of ETH holdings around the technically precarious $2,000 zone. Protection of profits takes priority amid broader uncertainty about crypto’s macroeconomic outlook in 2023.

That said, analysts also highlight likely support zones between $1,850 to $1,950 where fresh dip buying could spark the next bull run towards retesting September’s peak. The historical floor around the 50-day moving average at $1,950 is another potential bounce area to watch.

https://thenewscrypto.com/charles-hoskinson-shares-theory-on-why-satoshi-nakamoto-chose-anonymity/

• Charles Hoskinson suggests that Satoshi Nakamoto remained anonymous due to legal uncertainties.
• In its early days, Satoshi Nakamoto controlled 100% of Bitcoin’s mining power and governance.
• Hoskinson challenges the narrative of Bitcoin as an immaculately conceived entity outside individual control.

In a recent video, Charles Hoskinson, founder of IOG and the Cardano blockchain, shared his perspective on why Satoshi Nakamoto, the pseudonymous creator of Bitcoin, chose to remain anonymous. Hoskinson also revealed details about Bitcoin’s first years, when mining and control were initially centralized.

The video expands on Hoskinson’s previous live Q&A session, in which he countered accusations that Cardano’s ADA token could be considered an unregistered security. His new statements shed light on Bitcoin’s opaque origins.

Preserving Anonymity Due to Legal Ambiguity

According to Hoskinson, Satoshi Nakamoto decided to stay anonymous to avoid potential legal issues around issuing a currency. Several failed historical attempts at making private coins faced challenges from governments.

“In the United States, creating a digital asset and distributing it is legally ambiguous,” Hoskinson said. “Coins like the Liberty Dollar, Ron Paul Dollar, and others did not fare well.”

Remaining anonymous prevented Satoshi from being a target if governments categorized Bitcoin as an illegal private currency.

Hoskinson also recounted Bitcoin’s highly centralized beginnings. In the first days, when few people knew about the technology, Satoshi Nakamoto alone controlled 100% of Bitcoin’s mining power and governance.

As usage spread, Satoshi taught select pioneers like Hal Finney to run nodes and mine coins. But the network still relied completely on Satoshi’s oversight in this earliest phase.

“He was basically able to change the Bitcoin network in any way he pleased,” said Hoskinson. Only after significant adoption could Bitcoin be considered decentralized.

The reminder of Bitcoin’s origins counters the narrative of some Bitcoin maximalists, who describe it as an “immaculate conception” outside individual control. All networks require initial central guidance to function. But Bitcoin has successfully transitioned power to a global community.

Hoskinson concluded by implying that Cardano has followed a similar trajectory—carefully navigating unclear legal territory in the frontier days of crypto, but with responsibility rather than anonymity. The blockchain’s transparent and accounted-for development now rests in the hands of its decentralized community.

By understanding the context that led Satoshi to hide his identity, one better appreciates Bitcoin’s real-world technological evolution and can judge modern blockchains accordingly. The cypherpunk spirit persists in those brave enough to cautiously push boundaries under public scrutiny rather than behind a veil of secrecy.

https://thenewscrypto.com/early-signs-of-accumulation-hint-at-polygon-reversal/

• Polygon’s MATIC token has shown signs of significant buyer accumulation in the past two weeks.
• The current stability near the lower range suggests a potential reversal of the previous bearish trend.
• Crypto analysts advise caution in interpreting breakouts.

Over the past two weeks, Polygon’s native MATIC token has shown intriguing signals of significant buyer accumulation despite ranging prices. For seasoned crypto investors, such early signs often foreshadow major volatility swings.

MATIC has traded sideways in a relatively narrow band since its unexpected 21% single-day drop seen earlier this month. However according to classic market principles, subtle volume and support metrics surrounding such consolidation offer insights into where the asset may head next.

On MATIC’s daily price chart, the recent volume profile reveals declining spikes even as the price carved out a floor following last month’s flash crash. That divergence between lagging volume and sideways drift suggests existing holders are absorbing available liquidity rather than panicking into continued selling.

Current Polygon range shows readiness to reverse

Indeed, the stability formed near the current range lows hints at readiness to reverse the preceding bearish impulse. From recent price action alone, MATIC appears poised to break out of its contraction into a new expansive move.

However, crypto analysts caution that not all breakouts behave equally. The exact circumstances surrounding the next definitive chart close above or below MATIC’s expected resistance marker will indicate the probable scale and sustainability of breakout momentum.

A high-volume thrust past resistance signals confidence and backs follow-through, while more muted action on decreased activity generally fizzles out. But analysts also watch for springboard launches after prolonged declines grind to low-volume bottoms as weaker hands fully capitulate.

Therefore, MATIC traders face the nuanced task of determining whether bargain-hunting whales quietly grabbed up tokens during this period of indecision. If so, thin liquidity from tapped-out sellers means any uptick in buying interest could spark a violent recovery.

https://thenewscrypto.com/dogecoin-transaction-volume-hits-new-highs-as-price-faces-resistance/

• Dogecoin’s daily transaction volume reached 1.5 million transfers, marking an all-time high.
• The surge in transactions suggests increasing utility for transferring and tipping DOGE tokens.
• Despite the transaction spike, Dogecoin’s network handled the demand smoothly without congestion.

Dogecoin’s original meme cryptocurrency had its transaction count reach fresh all-time highs this week, even as its price remains constrained below the $0.087 level.

According to developer Mishaboar, Dogecoin’s daily transaction volume recently topped 1.5 million transfers over a 24-hour span. That figure builds on the over 1 million transactions recorded last Friday across the network, which is better known for its low fees and vibrant online community.

Elevated transaction activity indicates growing utility for Dogecoin

The elevated transaction activity indicates growing utility for transferring and tipping DOGE tokens, even while speculative trading interest lags at current prices. However, developers noted that much of the spiked volume comes from minor transfers and movements of Dogecoin Ordinals and other tokens built on secondary DRC-20 infrastructure rather than core blockchain usage.

Still, the figures dwarf transaction levels on chains like Bitcoin and Ethereum and showcase Dogecoin’s structural capacity to support significantly higher adoption. Mishaboar affirmed that the network continues to handle the demand smoothly without congestion or delays.

From a user perspective, transacting with DOGE remains inexpensive, apart from select cases where higher priority fees apply for more time-sensitive needs. For node operators, however, surging transaction inputs do raise costs related to hard drive space and infrastructure maintenance, a possible deterrent for under-resourced participants.

On the price side, Dogecoin faces heavier resistance, according to analyst Ali, known as @ali_charts on social media. Ali points to the $0.087 level as a major weekly chart barrier where the 100-week, 200-week, and 50% Fibonacci moving averages all converge.

Breaking above that dense overhead zone could open the door for DOGE to double in value towards the $0.14 target. However, firmly overtaking such well-established and psychologically key markers often proves difficult without a catalyst.

Still, Ali believes heightened interest from whales and financial institutions explains part of the expanding transaction counts and on-chain activity. With the network demonstrating robust capacity, greater fundamental utility could provide the spark DOGE needs to attempt breaking its nearly year-long downtrend.

https://thenewscrypto.com/cardano-price-action-mixed-as-traders-consider-next-move/

• ADA token experiences volatility and uncertainty in recent days.
• Analyst Ali Martinez indicates a buy signal on ADA’s four-hour chart, suggesting a potential rebound.
• Cardano’s weekly chart, however, shows a sell signal, possibly leading to a steeper drop if validated.

Cardano’s ADA token has witnessed growing volatility in recent days, with mixed signals emerging across varying timeframes that leave traders uncertain about the next major price move.

Currently ranked as the 8th-largest cryptocurrency by market capitalization, ADA fell nearly 3% on Wednesday to $0.3735 amid broader declines across the crypto markets. The token has struggled in recent weeks to decisively move past technical resistance around the $0.40 level.

Cardano shows a buy signal

According to analyst Ali Martinez, Cardano shows a buy signal on its four-hour price chart, indicating a potential rebound on the horizon after an extended cooldown from its early September highs above $0.50. 

However, Martinez points out that ADA’s weekly chart illustrates a sell signal per the TD Sequential indicator, which when validated could result in a steeper drop towards support levels at $0.34 or $0.33 if the $0.37 zone fails to hold.

To add further uncertainty, ADA sits right at a major demand area between $0.37 and $0.38, with roughly 166,000 wallets having accumulated nearly 4.9 billion tokens within this price range. Typically, strong on-chain support in specific areas reinforces buying interest around those levels.

If ADA manages to reverse course and stage a rally from current levels, clearing the elusive $0.40 mark remains the critical test in the days ahead. A weekly close above $0.40 would open the door for an advance towards the next target at $0.46, according to Martinez’s analysis.

However, failure to hold the demand area and break below $0.37 support could spell trouble and motivate sidelined bears to re-enter at lower levels. 

Martinez notes traders should closely watch for confirmation of ADA’s next move via a decisive four-hour candle close above $0.396 resistance or below the 100-day exponential moving average (EMA) at approximately $0.35.

https://thenewscrypto.com/shibarium-transactions-plunge-after-recent-surge/

• Shibarium experienced a significant drop of nearly 65% in transactions, falling from 43,690 on November 24th to 15,680.
• The decline in transactions is attributed to the volatility affecting the nascent network.
• Before the surge on November 19th, Shibarium’s activity remained relatively low, rarely exceeding 21,000 transactions.

Just days after Shibarium, the Layer 2 scaling solution of the Shiba Inu ecosystem, recorded an all-time high in transactions, that figure has now plunged by nearly 65%.

According to data tracked by monitoring resource Shibarium Scan, total transactions hit 43,690 on November 24th, up markedly from 29,280 the prior day. However, as of Tuesday, transactions had sunk to 15,680 amidst the volatility commonly impacting usage of the nascent network.

Sharp reversal highlights the impacts of Shibarium

The sharp reversal highlights the unpredictable swings still impacting adoption of Shibarium in its early stages since launching this past August. In the weeks leading up to the recent record transaction count, activity on the protocol remained relatively subdued, rarely crossing 21,000 transactions before the swift uptrend began on November 19th.

That unpredictability underscores the growing pains still facing the Shiba Inu development team as it looks to foster sustainable usage of Shibarium among decentralized applications and project developers.

After crossing the four million total transaction threshold last month, marking an important milestone, the actual application has proved fickle.

Still, markers of stability and technological reliability have emerged across pockets of Shibarium’s first few months in operation, now counting over 1.8 million total blocks produced.

The question of whether Shibarium can fulfill its core mission as a viable Layer 2 solution supporting the Shiba Inu ecosystem remains complex, needing more long-term data points. In raw comparison against other leading Layer 2 protocols like Arbitrum and Polygon, adoption appears sparse.

While the wild transaction spike and sudden decline highlight more maturing still ahead, Shibarium’s long-term trajectory shows at least foundational progress. But transforming interest into sustained usage remains the next key phase, still filled with uncertainty.

https://thenewscrypto.com/cardano-price-consolidates-with-potential-for-a-surge/

• Cardano’s ADA token experienced a 2.87% decrease, settling at $0.3806 in the last day.
• The current price marks a crucial support zone, with analysts suggesting the potential for further upside for Cardano.
• Analyst Ali Martinez highlighted substantial demand, with 166,470 wallet addresses acquiring ADA within the $0.37 to $0.38 range.

The price of Cardano’s ADA token has entered a period of consolidation over the past day, sliding 2.87% to $0.3806 at press time. This price level represents a crucial support zone, according to market analysts, who believe further upside could still be in store for the fifth-largest cryptocurrency by market capitalization.

In a tweet posted earlier today, analyst Ali Martinez noted substantial demand around Cardano’s current price range based on on-chain data. Over 166,470 wallet addresses acquired ADA at prices spanning $0.37 to $0.38. With strong underlying support at this level, Martinez suggests the blockchain network’s native asset could see a 20% price spike to revisit its 2022 high of $0.4518. 

Often cited as an undervalued cryptocurrency given its extensive capabilities, Cardano has thus far failed to meaningfully breach the $1 threshold.

For a layer-1 blockchain that purportedly offers one of the most well-designed proof-of-stake mechanisms and claims over $1 billion total value locked, a sub-$0.40 valuation continues to spark debate around current prices reflecting true fundamental value.

Cardano seems lucrative near the $0.38 mark

Yet for investors accumulating ADA anywhere near the $0.38 mark, the risk-reward scenario looks increasingly positive. According to Martinez’s analysis, any break below the lower boundary of this support zone could result in a further drop to around $0.34. However, with buy-side volume evidently piling in around current levels, the downside appears limited in the short term. 

Beyond positive on-chain signals, Cardano’s underlying ecosystem continues to expand through the onboarding of new protocols spanning decentralized finance, non-fungible tokens, and more, all contributing to a sticky demand dynamic for ADA.

While further volatility can be expected from the asset embroiled in the latest crypto market turbulence, analysts will be closely monitoring price action to see if a more decisive breakout takes form.

https://thenewscrypto.com/millions-in-solana-transferred-to-unknown-wallets-as-sol-dumps/

• Over $120 million worth of Solana’s SOL token traded in three transactions within 24 hours.
• Whale Alert detected the activity as SOL’s value decreased from recent highs.
• Two initial transactions involved transfers of 899,999 SOL and 900,000 SOL, both valued at $50.5 million, between unknown wallets.

Over $120 million worth of Solana’s SOL token changed hands across three hefty transactions executed by anonymous whale accounts over the past 24 hours. Cryptocurrency transaction tracker Whale Alert picked up the on-chain activity, which arrived as the blockchain’s native crypto asset trades down from its recent record highs.

The first two transactions, logged within two hours of each other, involved transfers of 899,999 SOL worth $50.5 million and 900,000 SOL valued at $50.5 million between unknown wallet addresses. The third transfer saw another whale account shift 336,999 SOL worth $19.1 million directly to top crypto exchange Coinbase.

Impetus behind Solana movement remains unclear

While the impetus behind the major token movements remains unclear at the time, analysts typically view transfers to and from exchange platforms as potential signals of seller distribution or buyer accumulation. With Solana still up over 450% year-to-date despite its latest cooldown, large holders appear to be reallocating funds across wallets.

SOL has shed 19% from its peak of $68 in recent days amid broader turbulence in crypto markets. The pullback also followed a failed breakout attempt past the $69 resistance level, which, if reclaimed, could see prices targeting yearly highs at $75 next, according to some traders.

On the flipside, bears will try to breach vital support around the $51 zone that has repeatedly bounced SOL higher on tests over recent weeks. With buyers likely waiting at the $48 mark, price action is approaching an inflection point that will help set the short-term trend.

Between the ongoing adoption of Solana across decentralized finance and NFT platforms and the market’s recent thirst for “Ethereum Killer” altcoin assets, major investors have stayed active within the network, even as near-term winds shift. With the cryptocurrency space prone to volatility, the coming days should determine whether this latest bout of heavy SOL transferring spells a bullish or bearish outlook ahead.

https://thenewscrypto.com/cardanos-hoskinson-lauds-nearly-200-paper-research-portfolio/

• The total papers in Input Output Global’s (IOG) library, associated with Cardano, are nearing 200.
• Charles Hoskinson emphasizes Cardano’s commitment to peer-reviewed academic research as a distinctive feature.
• Cardano’s focus on a rigorous, scientific method has been a defining aspect since its 2015 inception.

Cardano creator Charles Hoskinson praised his blockchain network’s commitment to peer-reviewed academic research as the total papers in Input Output Global’s (IOG) library approaches 200. He contends that this rigorous, scientific method distinguishes Cardano as uniquely positioned to solve complex challenges.

“Cardano’s Library Nears 200 Papers as Founder Charles Hoskinson Emphasizes Research-First Ethos” reads the subtitle of Hoskinson’s tweet on Monday, highlighting the milestone.

Cardano’s Hoskinson says he is still in awe

Hoskinson stated:

“I’m still in awe of our library of papers, almost at 200. There is so much amazing research in this portfolio underpinning the Cardano blockchain and its capabilities,” He further added, “Our emphasis on doing the science first is what makes Cardano special.”

Indeed, dedication to research has defined Cardano since its founding in 2015 to address perceived shortcomings in major cryptocurrencies like Bitcoin and Ethereum. The initial Ouroboros paper, which put forth Cardano’s proof-of-stake consensus mechanism, has over 1,200 citations in academic literature as of 2022.

Many of the studies coming out of IOG’s internal research unit and partnerships with universities have similarly undergone rigorous peer review before publication at top computer science conferences. This level of academic scrutiny is unmatched among blockchain projects and instills confidence in Cardano’s real-world viability.

Subjects covered in the papers span game theory, programming languages, networking, governance, and beyond—all centered around building a secure, sustainable smart contract platform. Hoskinson claims this emphasis on science establishes firmer technological and ethical foundations relative to competing networks.

https://thenewscrypto.com/shiba-inu-braces-for-potentially-rocky-december/

• Shiba Inu faces potential volatility in December, historically experiencing double-digit percentage selloffs.
• Analysis by CryptoRank highlights December as the worst month for SHIB investors based on past trends.
• CryptoRank’s report warns of a possible drop below $0.0000065 if selling momentum intensifies.

Heading into the final month of 2023, the popular Shiba Inu-themed cryptocurrency SHIB faces another possible bout of extreme volatility if past trends around Christmas prove accurate again this year. Analysis by data firm CryptoRank reveals the token has seen double-digit percentage selloffs in December since its launch.

“Shiba Inu Token Eyes Another Treacherous December as Data Shows History of Year-End Crashes” reads the subtitle underneath graphs highlighting past December as the worst calendar months for SHIB investors. 

CryptoRank’s report has put holders on alert; this could repeat, potentially bringing SHIB under $0.0000065 from its current price should selling momentum gather steam. However, December has been an anomaly compared to the more consistent weakness seen in November over the years.

Shiba Inu rallied nearly 4.5% this month

Surprisingly, after drops of 29.6% and 24.8% in the two prior November, SHIB rallied nearly 4.5% this past month. This break in the previous pattern has sparked a debate around solely extrapolating the future from such a small data set.

On one side, skeptics argue statistical significance cannot be gleaned from only three Decembers, especially given cryptocurrency’s inherent volatility. They contend that while history rhyming is possible, SHIB has already proven unpredictable this November.

As 2023 nears its end, SHIB investors are also keeping an eye on burn rate initiatives that reduce token supply. More than 100 million have been removed from circulation just this week. Though price often moves independently from these efforts, hopes remain that they boost value long-term.

https://thenewscrypto.com/sudden-dogecoin-whale-activity-sparks-speculation-of-price-breakout/

• Dogecoin (DOGE) is experiencing heightened activity.
• 121 new wallets containing at least 1 million DOGE each emerged in the past month.
• Historical data indicates that previous spikes in whale activity have correlated with increased liquidity and volatility.

The original meme-inspired cryptocurrency Dogecoin (DOGE) is exhibiting a flurry of activity not seen in years, prompting speculation of an impending price rally.

Over the past month, 121 new Dogecoin wallets have emerged, containing at least 1 million DOGE each, marking substantial interest from “whale” investors. Additionally, high-value wallets that have been long-dormant are suddenly on the move again, unlocking troves of Shiba Inu-themed tokens.

Historically, such spikes in activity by whales led to increased liquidity and volatility in DOGE pricing. The meme-favorite asset has already seen upward momentum after a long consolidation period and now approaches key resistance levels.

Dogecoin could stage another parabolic surge

If able to break past prices not reached since 2021’s massive rally, analysts predict DOGE could stage another parabolic leg-up fueled by returning whale money. Unlike that previous mania, however, developing utility use cases this time could impart some staying power.

Hints were recently dropped about Dogecoin integration into payment systems being built for Twitter by new owner Elon Musk, himself a vocal DOGE proponent. Any implementation as a digital tender would further validate the cryptocurrency’s cultural sensation into more tangible financial rails.

Still, beyond its celeb-powered hype and potential payment functions, DOGE suffers from a lack of advanced functionality like smart contracts that power wider decentralized finance and Web3 ecosystems. This may hinder larger adoption.

Yet for speculators and crypto-curious drawn to the absurdist origins of a joke that somehow manifested billions in market value, Dogecoin retains an irreverent appeal aligned with larger cultural currents.

Its recent consolidation also offers a more disciplined entry point than 2021’s unfounded exuberance. For lightly-exposed risk-takers, a few bucks of play-money in DOGE poses as good a bet as any to ride the next viral wave.

https://thenewscrypto.com/user-pays-staggering-3-14m-in-bitcoin-fees-for-single-transaction/

• An anonymous whale spent 83.65 BTC (over $3.14 million) in miner fees for a single Bitcoin transaction.
• The transaction involved transferring 55.76998378 BTC from the sender’s “bc1qyf…” wallet.
• The total input value of the transaction was 139.42495946 BTC, equivalent to $5.23 million.

In what may signal a resurgence of high Bitcoin transaction fees, an anonymous whale just spent 83.65 BTC (over $3.14 million) in miner fees to facilitate a single BTC transaction.

According to the crypto analytics platform BitinfoCharts, the exorbitant charge occurred with the transfer of 55.76998378 BTC from the sender’s “bc1qyf…” wallet. The total input value of the transaction was 139.42495946 BTC, equivalent to $5.23 million.

Reason for Bitcoin fee surge unclear

While the reason for the astronomical fee remains unclear, such outliers have happened before within Bitcoin’s uncapped fee structure. Nonetheless, the event is sparking renewed unease around usability for smaller holders unable to stomach millions in networking costs.

Throughout 2022, soaring BTC gas expenses stemming partly from NFT minting frustration retail participants. The introduction of Layer 2 services like the Lightning Network has alleviated pressure more recently. But this latest excess now renews doubts.

At face value, the $3.14 million charge exceeds the GDP of some small nations. For promoters extolling Bitcoin’s potential as “digital gold” or everyday currency, such volatility challenges real-world utility relative to the simplicity of legacy payment systems.

Yet Bitcoin’s decentralization and censorship resistance carry trade-offs at scale. Absent middlemen, users directly bid for space in blocks. Congestion can drive these bids higher, as appears to have happened here.

Hence, this latest bout of extravagant fees both highlights Bitcoin’s existing limitations regarding costs and signals the traction still needed in its layered scaling roadmap.

https://thenewscrypto.com/upcoming-closed-door-sec-meeting-stokes-speculation-on-ripple-settlement/

• There’s news of a confidential SEC meeting on November 30th, focusing on enforcement proceedings and litigation actions.
• Ripple is engaged in a legal battle with the SEC over the status of XRP.
• The meeting has sparked speculation in the Ripple community about potential settlements.

News of a confidential SEC meeting this week covering enforcement proceedings and litigation actions has revived settlement speculation within the Ripple community. The undisclosed November 30th agenda comes amidst key phases in Ripple’s ongoing legal battle with the regulatory body over XRP’s status.

While no parties are named, the slated discussion over resolving claims and lawsuits related to SEC examinations has investors buzzing over potential Ripple developments. Over 3 years since first filing charges against Ripple alleging XRP amounted to an unregistered security, the case remains locked in critical discovery and briefings ahead of eventual remedies rulings next year.

Specifically, Judge Analisa Torres recently laid markers for both sides to complete discovery pertaining to penalties and injunctions sought against Ripple by February 2024. This will set the stage for a final brief submission through April, whereafter Judge Torres can issue binding decisions on appropriate sanctions.

Will Ripple and SEC come to a resolution?

A major contention point remains the eye-popping $770 million fine the SEC charged Ripple in July 2022 based on overwhelmingly selling XRP as an illegal offering. Most legal experts expect the sum to be reduced but still represent high-stakes talks given Ripple’s business turning on the coin’s free trading status.

It’s within that context that the SEC’s newly announced Thursday meeting has coincided with anticipation over a potential settlement compromise. The very topic of resolving enforcement claims shrouded in secrecy has propelled the XRP community into a frenzy over the prospects.

Yet the gathering has centered attention on Ripple’s efforts to proactively end legal uncertainty harming XRP beyond looming judicial decisions. Any indication of progress through the secret meeting would further bolster the international cryptocurrency, now ranked #6 by market capitalization near $19 billion.

https://thenewscrypto.com/dogecoins-price-dips-despite-bullish-golden-cross/

• The price of Dogecoin dropped by over 2% on Wednesday, despite positive network activity and bullish technical signals.
• A “golden cross” chart pattern, not seen in a year, was identified, signaling a potential reversal of the multi-month downtrend.
• Whale Alert recorded over $47 million worth of Dogecoin changing hands in three large transactions

The price of meme-favorite crypto Dogecoin fell over 2% on Wednesday, even as network activity reignited and technical signals flashed bullish. Blockchain trackers spotted a landmark “golden cross” chart pattern for the first time in a year, along with growing wallet use. However, DOGE has yet to respond positively as traders weigh mixed outlooks.

Whale Alert recorded over $47 million worth of Dogecoin changing hands across three large transactions early Thursday. Outflows from centralized exchange Robinhood to external wallets made up the bulk, possibly indicating investors withdrawing to hold independently or conduct business on-chain.

Dogecoin transfers align with an uptick in active addresses

The transfers align with a noteworthy uptick in so-called active addresses observed on the Dogechain. According to blockchain analytics firm IntoTheBlock, the count of active addresses transacting DOGE has surged by 87% since November 1st.

The jump may reflect resurgent interest not yet reflected in the token price hovering near 2-month lows. As network utilization rebounds off year-to-date lows, a breakout for the meme coin may materialize with a typical lag.

Adding to DOGE’s intriguing position is a bullish technical indicator not seen over the past 12 months. This week marked the first “golden cross” on the daily Dogecoin chart since November 2021, when faster-moving averages crossed above slower ones.

Last March, the opposite death cross pattern formed, presaging further weakness. Now the golden cross re-emergence hints the multi-month downtrend may have bottomed out or be on the verge of reversing higher again.

https://thenewscrypto.com/cardano-foundation-rallies-11-million-ada-behind-catalytic-governance-proposal/

• The Cardano Foundation is allocating over 11 million ADA for a crucial vote aimed at decentralizing the blockchain’s decision-making.
• The nonprofit expresses support for “Catalytic Governance” changes, advocating for community involvement in the upcoming ballot.
• In a Twitter thread, the Foundation discloses a “Yes” vote intention, backed by 11.4 million ADA.

The Cardano Foundation is mobilizing over 11 million ADA to support an upcoming vote central to decentralizing the blockchain’s decision-making. The nonprofit pledged its backing for the so-called “Catalytic Governance” changes while urging community participation.

In a seven-part Twitter thread, the Foundation announced it will vote “Yes” in the imminent ballot with one wallet holding 11.4 million ADA, worth nearly $5 million. The proposal, if activated, will shift Cardano towards fully on-chain governance by enabling binding votes on future upgrades.

Cardano currently relies on a formal review process

Currently, Cardano relies on a formal review process to approve developments, in which stake-based votes serve as a gauge of community sentiment. But Catalytic Governance introduces an automated toolkit to seamlessly turn approved proposals into code changes.

By embracing the overhaul spearheaded by CIP-1694, the Foundation believes Cardano can become a self-sustaining, decentralized network. Enfranchised users would have direct authority over technical upgrades, removing bottlenecks that hinder innovation.

Beyond its own vote, the Foundation is rallying broader involvement through social media promotion and technical documentation. Its awareness campaign highlights the proposal’s importance while outlining key dates and logistics around the imminent ballot.

A dedicated website also offers guidance for users whose ADA resides on hardware wallets or exchanges. By capturing a “snapshot” of staked tokens ahead of voting, even those with minimal balances can participate without moving funds.

The initiatives reflect the Foundation’s role as an advocacy nexus between Cardano developers and the diverse global community. While supporting promising upgrades, its parallel focus is spurring mass delegation levels that legitimize on-chain decisions.

Its pledge of 11 million ADA also signals skin in the game—a willingness to commit significant capital to innovations furthering decentralization. By putting tokens where their tweets are, the impact shifts from abstraction to alignment with users invested in the blockchain’s future.

https://thenewscrypto.com/ripple-cto-cryptically-tweets-amid-openai-drama/

• Ripple CTO David Schwartz tweeted expressing love for the Ripple team.
• The XRP team recently achieved legal success against the SEC, with the court ruling that XRP is not an unregistered security.
• Some interpreted Schwartz’s tweet as a show of solidarity, drawing parallels with OpenAI’s internal issues.

Ripple chief technology officer David Schwartz sparked intrigue this week with a tweet declaring his love for the Ripple team. The post mimicked language used by ousted OpenAI CEO Sam Altman amid leadership turmoil at the artificial intelligence startup.

Following Altman’s controversial removal, he tweeted, “I love the OpenAI team so much” in an apparent signal of continued support. Schwartz’s similar wording prompted speculation about its possible meaning for Ripple.

The tweet comes as Ripple enjoys newfound stability after largely prevailing in its legal battle against the SEC. Earlier this year, the court found XRP does not constitute an unregistered security, removing existential threats against the company.

Ripple CTO’s tweet shows solidarity amidst OpenAI drama

With the lawsuit nearly behind them, some interpreted Schwartz’s post as a show of solidarity, just as OpenAI grapples with internal fractures. However, by all accounts, the XRP team remains united behind its product roadmap and mission.

This suggests the CTO borrowed Altman’s phrasing mainly for effect in teasing the active XRP community. Schwartz frequently engages supporters on Twitter through vague statements meant to stoke interest.

Nonetheless, as the architect of the XRP ledger and related technologies, Schwartz’s views carry weight. He plays a pivotal role in developing Ripple’s payment infrastructure and shaping its future direction.

For now, the CTO’s tweet appears primarily for entertainment value to engage the Ripple community. But it serves as a reminder of his importance in maintaining internal cohesion amid opportunities for reckless expansion.

https://thenewscrypto.com/euro-tether-is-set-to-launch-on-bitunix/

Tether, the company behind the popular stablecoin USDT, announced it will launch a euro-pegged cryptocurrency on Bitunix, a new Europe-focused digital asset exchange.

In a recent tweet, Tether stated it would soon release Euro Tether (EUR₮) on Bitunix. This represents Tether’s latest expansion into fiat-pegged stablecoins beyond its flagship USDT cryptocurrency.

What is Tether?

Tether issues blockchain-based tokens pegged to the value of traditional currencies like the US dollar. Its USD-backed token, USDT, is the most widely used stablecoin in crypto markets. Tether aims to provide the price stability benefits of fiat currencies combined with the speed and flexibility of cryptocurrency.

The company has progressively rolled out stablecoins pegged to additional global currencies. Along with USDT, it currently offers tokens pegged to the Euro, Chinese Yuan, and Mexican Peso. EUR₮ will be its newest currency-backed stablecoin.

What is Bitunix?

Bitunix is a new cryptocurrency exchange that focuses on the European market. Based in Estonia, the exchange aims to provide extensive trading options for European crypto investors.

Though new, Bitunix has quickly expanded its coin offerings and is now expanding with Tether.

Tether’s launch of EUR₮ on Bitunix should further bolster the exchange’s offerings for European traders. Euro-pegged stablecoins like EUR₮ provide crypto holders with a way to hedge against volatility without leaving the cryptocurrency ecosystem.

Having a stable asset tied to the Euro could boost Bitunix’s appeal with regional traders who primarily operate in euros. The availability of EUR₮ should also make transferring funds onto the exchange quicker and easier for European users.

The integration highlights Tether’s ongoing push to make its stablecoins available across diverse exchanges and blockchains. As the most widely utilized stablecoin, USDT’s precedent illustrates the high demand crypto investors have for stabilizing assets. For both Tether and Bitunix, the new Euro Tether could offer opportunities for expanded reach.

https://thenewscrypto.com/tether-cooperates-with-doj-freezes-225-million-usdt/

• Tether froze over $225 million worth of USDT tokens.
• Freeze resulted from collaboration with U.S. law enforcement.
• DOJ used blockchain analysis tools from Chainalysis in a months-long investigation.

Stablecoin firm Tether froze over $225 million worth of its USDT token following a U.S. investigation into an international human trafficking operation. The freeze represents the largest ever for a stablecoin and resulted from Tether’s collaboration with law enforcement.

The U.S. Department of Justice (DOJ) had been investigating the Southeast Asia-based syndicate for months using blockchain analysis tools from Chainalysis. Tether assisted by freezing the USDT after identifying wallets associated with the criminal group.

The illicit operation was connected to the “pig butchering” scam which reportedly cost U.S. citizens $3.3 billion last year through sophisticated fake investment schemes. Victims were persuaded to invest in fake platforms and then gradually coaxed into transferring funds that were stolen.

Seized USDT was held in self-custodied wallets

The seized USDT was held in self-custodied wallets rather than Tether customer accounts. Nonetheless, Tether moved to disable the tokens upon confirmation of illegal activity by the DOJ.

CEO Paolo Ardoino framed the freeze as an example of Tether’s commitment to cooperation with law enforcement and regulatory transparency. By proactively assisting investigations, the company aims to heighten safety in the wider crypto ecosystem.

Critics have long accused Tether of lax oversight in issuing new USDT, enabling potential illicit usage. But the firm maintains that it partners with regulators to monitor token flows and blacklist addresses linked to bad actors.

https://thenewscrypto.com/xrp-ledger-reaches-84-million-closed-ledgers-milestone/

• The XRP Ledger, home to the XRP cryptocurrency, has completed its 84 millionth ledger transaction.
• The ledger achieved this milestone six weeks after the 83 millionth transaction, indicating a monthly pace of around 1 million new ledgers.
• Ranked as the third-largest blockchain by market capitalization after Bitcoin and Ethereum.

The XRP Ledger, the blockchain behind the XRP cryptocurrency, has reached a new milestone by closing its 84 millionth ledger transaction. According to data from analytics platform XRPScan, the XRP Ledger’s current ledger count stands at over 84 million.

This comes just six weeks after the ledger closed its 83 millionth transaction in early October, indicating a pace of around 1 million new ledgers per month.

As the third largest blockchain in terms of market capitalization behind Bitcoin and Ethereum, this growth reinforces the rapid rate of adoption and innovation happening on the Ledger.

XRP Ledger bringing in new developments

Several new developments on the horizon promise to further expand the ledger’s capabilities and utility. Last week, two new XLS standards were proposed to enhance functionality around signer lists and NFT escrows.

“XLS-49d: Multiple Signer Lists” will allow accounts to utilize multiple signer lists for authorization. The “0051 XLS-51d: NFToken Escrows” proposal aims to implement escrow capabilities for NFTs similar to the escrows already possible with the XRP cryptocurrency.

Over 80% of validators have also approved two amendments, “fixNFTokenRemint” and “fixReducedOffersV1,” that are now in a two-week countdown period before going live on the mainnet. These technical improvements will help perfect the ledger’s rapidly growing NFT and decentralized exchange offerings.

The Ledger processes transactions at a rapid rate, averaging around 3-5 seconds and scaling up to 1,500 transactions per second. This speed and low transaction costs have driven increasing adoption across a range of uses like micropayments, tokenization of assets, and decentralized finance.

https://thenewscrypto.com/shiba-inu-burn-rate-spikes-but-price-remains-stagnant/

• Shiba Inu (SHIB) has experienced an increase in the burning of tokens, aiming to reduce the circulating supply.
• Despite the rise in token burns, there hasn’t been a significant price movement for the SHIB token in the past day.
• Shiba Inu prices are influenced by various factors, including broader market sentiment and investor psychology.

The cryptocurrency ecosystem around the popular meme token Shiba Inu (SHIB) has seen an uptick in the rate of tokens being burned or permanently removed from circulation. However, this increase has not corresponded with any major price movement for the SHIB token itself within the past day.

Burning tokens is a strategy employed to try and decrease the circulating supply of a cryptocurrency in hopes of positively influencing its valuation. However, the effectiveness of burns is debated, with many arguing the amounts destroyed must be substantial to impact the market in a meaningful way.

For a token with a circulating supply in the trillions, like SHIB, the amount of burns required to budge its price is estimated to be around $1 million worth of tokens destroyed. In comparison, the recent spikes in SHIB burn rates have totaled in the mere millions or thousands of tokens, representing relatively tiny fractions of the overall supply.

Shiba Inu prices are dictated by numerous forces

While the SHIB community maintains an active effort to reduce supply through burning tokens, the token’s price is ultimately dictated by broader market sentiment and forces. Factors like investor psychology, trading activity, the competitive landscape, and new developments within the SHIB ecosystem itself all contribute to price fluctuations.

So while the commitment to ongoing token burns indicates a deflationary ethos in the SHIB community, the actual impact of these small burns is likely negligible compared to larger crypto market dynamics.

For now, SHIB investors monitor burn activity as an encouraging sign of community dedication, but understand that price charts ultimately answer greater crypto market factors. The disconnect between burn spikes and stagnant pricing highlights this relationship and the economics behind meaningfully reducing 1 quadrillion tokens.

https://thenewscrypto.com/how-can-users-access-metaverse-and-web3/

The metaverse and Web3 are two of the most talked-about technologies today, with many believing they will shape the future of the internet. But what exactly are they, and how can people access and get involved with them? This article aims to provide a neutral, well-researched overview.

What is the Metaverse?

The metaverse refers to a network of virtual worlds focused on social connection. It is an evolution of the internet that incorporates aspects of virtual and augmented reality, enabling users to interact virtually in a more immersive and lifelike way.

Some key characteristics of the metaverse include:

• Persistent virtual worlds- The metaverse consists of virtual environments that continue to exist and evolve even when you’re not actively using or accessing them.
• Digital ownership – Blockchain technology and NFTs allow users to truly own digital assets, rather than having them controlled by a platform or company.
• Monetization – Creators can potentially monetize the content, experiences, virtual goods, and applications they build for the metaverse. Brands also see marketing potential.
• Realistic avatars – More realistic digital representations of people and their expressions—are the aim of metaverse platforms.
• Immersive experiences – VR and AR technology is advancing to provide seamless, interactive virtual experiences that engage multiple senses.

The metaverse is still in early development, but major corporations like Meta are investing heavily in it, believing it represents the future of the internet as we know it.

What is Web3?

Closely related to the metaverse is the concept of Web3—the next evolution of the internet built on blockchain technology. Web3 aims to create a more decentralized web where power and control are distributed among users, not centralized entities.

Core components of web3 include:

• Cryptocurrencies – Digital currencies like Bitcoin and Ethereum that eliminate central authorities overseeing transactions.
• NFTs – Non-fungible tokens that assign unique ownership to digital assets.
• Dapps – Decentralized apps with backend code running on distributed nodes, not centralized servers.
• DAOs – Decentralized autonomous organizations where users collectively govern communities and economies.

The goal of Web3 is to remove intermediaries and give users more ownership over their data, assets, identities, and online communities. It represents a shift from an internet controlled by large tech giants to one directed by its users.

How to Access the Metaverse and Web3

There are several ways that people can start accessing and engaging with the metaverse and web3 today:

Experience Virtual Worlds

Platforms like Decentraland, Cryptovoxels, and The Sandbox allow users to purchase virtual real estate NFTs, create avatars, explore 3D environments, play games, build scenes and structures, and attend live events. These blockchain-based virtual worlds provide a glimpse into the future metaverse.

Use Augmented Reality

AR apps like Magic Leap One blend digital objects and information into real world environments. AR glasses and lenses superimpose computer-generated imagery into what users see in their physical surroundings, which could one day support advanced metaverse experiences.

Get a Crypto Wallet

Cryptocurrency wallets like MetaMask are gateways to Web3 activities. Having a crypto wallet allows people to purchase digital assets like NFTs, interact with dapps, hold tokens from virtual worlds, participate in groups like DAOs, and more.

Join a DAO

Joining a DAO (decentralized autonomous organization) lets you collaborate with others through distributed community governance and decision-making. DAOs manage pooled crypto resources and assets that members can collectively benefit from.

Use Social VR Platforms

Apps like VRChat, AltspaceVR, and Horizon Worlds connect people for social virtual interactions. Spatial allows people to jump into AR meetings. These platforms hint at the virtual communication potential of the metaverse.

The metaverse and Web3 introduce new paradigms for how we can socially interact, work, play, learn, and conduct business online. While still emerging technologies, their core concepts and applications are rapidly evolving and stand to shape the future of life in the digital realm.

https://thenewscrypto.com/cardano-price-spikes-as-analyst-predicts-further-gains/

• Cardano (ADA) witnessed a 3.3% surge on November 16th, reaching $0.3883 from $0.3624 in the past 24 hours, amidst a broader altcoin rally.
• ADA has recovered from recent losses, marking a 7.72% increase over the last week as buyers return to the cryptocurrency.
• ADA remains down by 83% from its all-time high of $3.10 in September, although there is growing bullish sentiment for a trend reversal.

The price of Cardano (ADA) surged 3.3% on November 16th, joining a broader altcoin rally as the cryptocurrency aims to recapture lost ground. ADA currently trades around $0.3883, up from $0.3624 just 24 hours ago, according to CoinMarketCap.

After a rocky few weeks impacted by FTX contagion, ADA has now erased recent losses. The token is up 7.72% over the past week as buyers return to Cardano.

Cardano remains down from its all-time high

ADA remains down 83% from its all-time high of $3.10 last September. However, analysts are increasingly bullish on a trend reversal as crypto sentiment stabilizes.

Top trader Ali Martinez noted ADA’s current price chart mirrors accumulation patterns from 2018–2020 prior to massive gains. He suggests that if ADA can decisively break the $0.45 resistance in early December, a rally to $0.75 is likely.

In the long term, Martinez believes $1 is achievable in this cycle if momentum continues. That would represent a 153% gain from current levels.

The technical outlook is bolstered by steady development on the Cardano blockchain. Recent network upgrades like the Mithril hard fork, Lace Wallet, and Midnight Protocol highlight consistent innovation by the team.

More launches are planned for 2023, including Voltaire governance transitions, further boosting the utility of the smart contract platform. Cardano also aims to scale its ecosystem through partnerships and real-world use cases.

For example, Veritree, a climate tech company, recently began tracking corporate carbon credits on the Cardano blockchain. Such adoption spotlights Cardano’s ability to power sustainable solutions.

Meanwhile, this week, Input Output CEO Charles Hoskinson hinted at a new collaboration in the pipeline between Cardano and a national government. IOHK is also engaging with global regulators as it works to bring crypto innovation to the masses.

By combining technology development with pragmatic regulatory outreach, Cardano seeks to emerge as a leading blockchain for the future of decentralized finance (DeFi), non-fungible tokens (NFTs), and beyond.

https://thenewscrypto.com/shiba-inu-price-spikes-on-shibarium-integration-and-manny-pacquiao-partnership/

• Shiba Inu (SHIB) has experienced a 1.3% price surge in the last two days.
• Atomic Wallet, a decentralized crypto wallet with 5 million users, now supports the Shibarium Layer 2 network.
• The SHIB development team and Shibarium marketing expressed enthusiasm on social media.

The price of popular meme coin Shiba Inu (SHIB) has risen over 1.3% in the past two days following positive adoption news for the ecosystem. Crypto wallet Atomic Wallet has integrated support for the Shibarium Layer 2 network, exposing SHIB to millions of new users. Meanwhile, boxing legend Manny Pacquiao announced his charity would begin accepting SHIB donations.

Atomic Wallet, a decentralized cryptocurrency wallet with over 5 million users, announced via a blog post that it now supports the Shibarium network. Shibarium is a Layer 2 scaling solution designed to significantly improve transaction speeds and reduce fees on the Shiba Inu network.

Atomic Wallet users can now store, send, and stake Shiba Inu

Atomic Wallet users can now store, send, and stake SHIB, BONE, and LEASH – the native tokens underpinning Shibarium. The integration unlocks access to Shibarium and its assets for Atomic Wallet’s substantial user base.

Members of the SHIB development team celebrated the news on social media. Shibarium marketing lead Lucie and Telegram admin RagnarShiba highlighted Atomic Wallet’s large reach and the potential exposure for Shibarium.

The price of SHIB responded positively to the adoption boost, surging 13.41% over the past two days to reach a peak of $0.00000910 on November 16th, based on CoinMarketCap data. The meme coin has pulled back slightly but remains up 6% for the week.

The rally comes as Shiba Inu developers strengthen the project’s real-world utility. This week, the team announced a collaboration with legendary boxer Manny Pacquiao through the Manny Pacquiao Foundation.

The nonprofit philanthropic organization will now accept SHIB donations alongside other cryptocurrencies. The news is featured on the cover of the latest Shiba Inu magazine, which is being distributed to 300,000 SHIB holders.

However, SHIB remains highly speculative and prone to volatility. The token is still down significantly from its all-time high above $0.00008 last October. Questions remain about the long-term roadmap and utility of Shiba Inu.

https://thenewscrypto.com/solana-soars-10-as-optimism-grows-post-ftx/

• Solana (SOL) surged nearly 10% in the past 24 hours, surpassing $63 and experiencing its highest prices since last May.
• The rally follows the conviction of crypto tycoon Sam Bankman-Fried, a major early backer of Solana.
• Bankman-Fried, holding over $1 billion worth of SOL tokens, faced a sell-off from wallets linked to FTX.

Solana (SOL) jumped nearly 10% in the past 24 hours, leading gains among top cryptocurrencies as investors regain confidence in the blockchain project once heavily backed by the now-disgraced Sam Bankman-Fried.

SOL crossed above $63 on Wednesday, reaching prices not seen since last May. Trading volumes also spiked over 70% from recent averages to over $3.3 billion.

Solana rallies after SBF’s fraud charges

The rally comes on the heels of crypto tycoon Bankman-Fried’s conviction on fraud charges related to the implosion of his companies, FTX and Alameda Research. As a major early backer, Bankman-Fried acquired over $1 billion worth of SOL tokens.

When cracks in his empire first surfaced in November, SOL plummeted over fears of contagion. But with Bankman-Fried now sentenced and jailed, the cloud over Solana is dissipating.

Wallets linked to FTX have unloaded around $102 million worth of SOL to exchanges in recent months, likely for sale on the open market. But surprisingly, prices have proven resilient even as this SOL supply enters circulation.

Some argue the FTX bankruptcy estate may soon run out of tokens to sell based on on-chain data. At the same time, institutional demand for SOL appears to be accelerating.

In an interview, ARK Invest’s Cathie Wood called Solana a superior bet to Ethereum in terms of transaction speeds and costs. Her glowing review further buoyed sentiment.

With Solana finally emerging from the FTX fallout, developers and traders are returning in droves. The blockchain now processes over 2.5 million transactions per day, behind only Ethereum.

Solana still faces challenges, including network outages that have eroded trust. But with Bankman-Fried out of the picture, there is hope that Solana’s underlying technological strengths can shine through.

Its 10% rebound shows investors are once again ready to bet on the self-proclaimed “Ethereum killer.” Though risks remain, Solana appears to be turning a page toward brighter days ahead.

https://thenewscrypto.com/shiba-inu-team-expands-on-delayed-shibaswap-2-0-launch/

• A Shiba Inu official recently addressed the delay in launching Shibaswap 2.0.
• Shibaswap 2.0 aspires to be more than a basic decentralized exchange, evolving into a sophisticated decentralized application (DApp).
• Over the past 24 hours, SHIB experienced a 0.44% drop in value to $0.000008561.

A recent tweet from a Shiba Inu official account provided insight into the delayed launch of the highly anticipated Shibaswap 2.0 platform. Shibaswap 2 aims to evolve into a sophisticated decentralized application (DApp) that goes beyond a basic decentralized exchange.

According to the tweet from SHIB’s spokesperson, the intricate design of Shibaswap 2 necessitates careful planning and strategic execution across interconnected frameworks. This expanded scope exceeds that of a traditional DEX, positioning it as a more comprehensive platform.

The clarification comes amid community anticipation for the new Shibaswap version. The original swap launched in July 2021 as a decentralized exchange supporting SHIB and other ecosystem tokens. V2 promises features like multi-chain capabilities.

Shiba Inu drops in value

The update aligns with recent SHIB price performance. Over the past 24 hours, the self-labeled “dogecoin killer” dropped by 0.44% to $0.000008561, partially recovering from a plunge last week, per CoinMarketCap data.

Trading data also indicates a spike in large-holder activity. According to IntoTheBlock analytics, SHIB saw a 1,275% surge in large holder netflows over two days this week. The flows represent changes in whale ownership.

While eagerly awaited, the team emphasized a thoughtful approach to launching Shibaswap 2, transcending a basic exchange model. The clarification highlighted dedication to methodical development and avoiding rushed releases.

The commitment to crafting an advanced DApp mirrors broader SHIB ecosystem ambitions. With metaverse integrations and layered functionality, Shibaswap 2 represents a milestone in that vision. The team stresses diligent progress over hasty launches as work continues.

https://thenewscrypto.com/what-fueled-polygons-matic-10-price-increase/

• Polygon (MATIC) and Immutable (IMX) experienced a surge in prices, with Polygon rising by 10% to $0.97, and Immutable gaining 8% to $1.23.
• Dominance in Blockchain Gaming: A report by Game7 DAO identified Polygon and Immutable as leaders in the growing blockchain gaming sector.
• Popular Gaming-Focused Platform: Immutable emerged as the most popular gaming-focused platform

The prices of Layer-2 protocols Polygon (MATIC) and Immutable (IMX) have surged after a report found the two led the growing blockchain gaming sector. This expanded dominance has boosted the investment appeal of both cryptocurrencies.

Polygon spiked as much as 10% on Wednesday to $0.97, while Immutable likewise gained 8% to $1.23. The rally comes on the heels of research from Game7 DAO that labeled Polygon and Immutable as top players in Web3 gaming.

Though most play-to-earn titles are built on Layer-1 chains like Ethereum, Polygon has broken the mold by hosting the most new blockchain games. It now beats out rivals Binance Smart Chain and Ethereum in game development.

Additionally, the report found Immutable has become the most popular gaming-focused platform, surpassing competitors like Arbitrum. The research highlighted the momentum of these two protocols in the red-hot gaming space.

Polygon has a significant edge in adoption

With increased competition among Layer-2 solutions, Polygon’s gaming lead provides a significant edge for adoption and demand growth. If it continues dominating blockchain-based game development, bullish speculation on the MATIC token could rise.

Polygon also has its upcoming upgrade to POL on the horizon, an event that should further reinvigorate price performance. Meanwhile, integration between Polygon and Immutable will likely expand based on their complementary gaming strengths.

Immutable co-founder Robbie Ferguson has emphasized Polygon’s central role in blockchain mass adoption, making collaboration a natural fit. As gaming bridges crypto to mainstream audiences, the success of Polygon and Immutable proves instrumental for the broader industry’s future.

Their outperformance comes amid increased institutional investment, signaling the growing legitimacy of crypto and Web3. Polygon and Immutable’s rally reflects their strengthened position to capitalize on surging interest in blockchain’s evolution.

https://thenewscrypto.com/xrp-attempts-rebound-after-fake-etf-filing-briefly-spikes-price/

• XRP experienced a surge in prices due to rumors of a BlackRock XRP ETF filing, leading to a 15% increase to around $0.75.
• ETF analyst Eric Balchunas debunked the rumors, causing prices to retreat as the fake filing was exposed.
• Ripple found support at $0.64, a key level since November 11th, demonstrating resilience and bouncing back.

XRP is working to recover after a bogus filing briefly sent prices surging earlier this week. The token is up slightly over the last 24 hours, making it one of the only top 10 cryptos in green.

On Monday, rumors circulated on Twitter that asset manager BlackRock had filed to launch an XRP exchange-traded fund (ETF). The unverified reports swiftly lifted XRP over 15% to highs around $0.75.

However, prominent ETF analyst Eric Balchunas soon dispelled the claims, noting that the Delaware filing appeared fake. Prices erased the bulk of gains as investors digested the debunked news.

XRP found support right around $0.64

Nonetheless, Ripple found support right around $0.64, a key level it has consistently bounced from since November 11th. The latest retest of $0.64 enabled the token to pivot higher once again.

If upside momentum persists, analysts suggest XRP may next target the $0.73–$0.74 area before setting sights on the $0.85 resistance level. The ability to turn fake news into renewed buying interest underscores the lingering speculative fervor around XRP.

The resilience also comes as new court filings hint that an end to Ripple’s long-running legal battle with the Securities and Exchange Commission may finally be in sight. The SEC sued Ripple in 2020 for allegedly selling XRP as an unregistered security.

According to lawyer Jeremy Hogan, final remedy briefs scheduled for April could pave the way for a final judgment by July 2023. Hogan and others have asserted that the drawn-out lawsuit has fundamentally weakened the SEC’s position against Ripple.

While the fake ETF filing provided brief excitement, Ripple continues its grind back toward a nascent uptrend. If the SEC lawsuit reaches a favorable resolution, substantially higher prices are likely to await.

https://thenewscrypto.com/deceptive-xrp-giveaway-uses-advanced-deepfake-technology-to-dupe-investors/

• A highly realistic deepfake video impersonating Ripple CEO Brad Garlinghouse has surfaced, aimed at deceiving XRP investors.
• The video features a voice that accurately mimics Garlinghouse and promotes a fake “community support initiative” promising to double XRP deposits over 1,000.
• This marks an alarming development in scam tactics, with scammers using deepfake technology to deceive victims.

A highly realistic deepfake video impersonating Ripple CEO Brad Garlinghouse has recently emerged, attempting to deceive XRP investors into participating in a fake giveaway scam.

The video, featuring a voice that accurately mimics Garlinghouse, promotes a fraudulent “community support initiative” that promises to double any XRP deposits over 1,000.

This deception tactic marks an alarming new development as scammers become more sophisticated in their methods to ensnare victims. The XRP Ledger Foundation’s forensics team has urgently warned the community about such deepfake scams and stressed that any promotions of “free money” or “quick returns” should be considered highly suspicious.

Scam underscores ongoing threat to XRP community

This scam underscores the ongoing threat that bad actors pose to the XRP investor community. Last month, the XRPL forensics team cautioned users not to share keys or seeds during the Xahau network launch, reminding them that airdrops and giveaways are often a trap.

As scammers become more technologically proficient in creating convincing fake videos and voices, all crypto investors need to be wary of increasingly sophisticated social engineering tactics. The deepfake giveaway scam shows that even mimicking a well-known industry figure’s speech and mannerisms is within reach for malicious actors.

The XRP community is urged to stay vigilant, be skeptical of “too good to be true” offers, and never provide keys or personal information to unknown parties.

As con artists develop more advanced tools, it is more crucial than ever to rely on best security practices and conduct due diligence on any crypto-related opportunity. Investors should constantly be on guard against individuals or groups seeking to illegally profit from deception and theft.

https://thenewscrypto.com/shiba-inu-team-teases-mystery-cover-for-upcoming-magazine-edition/

• The developers of Shiba Inu created anticipation with a mysterious riddle for their upcoming magazine cover.
• A tweet from Shiba Inu account hinted that a “renowned athlete” will grace the cover of the second edition of Shib Magazine.
• The inaugural issue of Shib Magazine was launched last week, offering free NFTs to the first 1,000 registered readers.

The developers behind the popular meme coin Shiba Inu have sparked excitement and speculation with a cryptic riddle teasing the cover of the project’s upcoming magazine release.

A tweet from the official Shiba Inu account posed a mystery about who will “grace the cover” of the second edition of the recently launched Shib Magazine. The post offered a hint that the unknown figure is a “renowned athlete.” 3,000 free NFTs of the edition’s cover will be given away to the SHIB community.

The teaser tweet comes after last week’s launch of the inaugural issue of Shib Magazine, with free inaugural cover NFTs awarded to the first 1,000 registered readers.

The publication provides regular updates on innovations in crypto, specifically within the SHIB ecosystem. The riddle has sparked a flurry of guesses from the avid SHIB community, speculating on which famous athlete could appear on the upcoming cover.

Shiba Inu developer outlines plans for new integrations

Beyond the magazine hype, lead SHIB developer Shytoshi Kusama recently emerged from “quiet mode” to outline plans for new Shibarium integrations. Shibarium is the Layer 2 network built to support SHIB and reduce gas fees.

Kusama has been in talks about integrating Shibarium with major centralized crypto exchanges. An AI chatbot is now available for SHIB users to interact directly with developers. Kusama said the team is focusing on building new projects on top of Shibarium.

The increased communication and project development point to renewed momentum for the previously stagnant SHIB project. The meme coin exploded in popularity in late 2020 and 2021. But 2022’s crypto bear market erased most gains, with SHIB still down massively from its all-time high.

https://thenewscrypto.com/shibarium-transactions-surge-but-faces-scalability-test/

• Daily transactions on Shibarium increased from 9,230 on November 11th to 10,880 on November 14th.
• The average block time also rose from 5.0–5.1 seconds to 7.7 seconds during this period.
• The rise in daily transactions indicates an increase in the transaction per second (TPS) rate, posing scalability challenges.

Shiba Inu’s layer-2 solution Shibarium has seen a spike in daily transactions, demonstrating growing usage but also raising concerns around scalability.

According to data from Shibarium Scan, the protocol’s total daily transaction count jumped from 9,230 on November 11th to 10,880 on November 14th. However, the average block time rose from the typical 5.0–5.1 seconds to 7.7 seconds.

This shows that as more transactions flow through Shibarium, the transaction per second (TPS) rate climbs. While increased adoption is positive, the scaling hurdle indicates developers need to enhance flexibility to prevent TPS spikes as volume grows.

Shibarium aims to bolster Ethereum’s usability for decentralized finance by offering faster and cheaper transactions. But network congestion during its initial launch highlighted the need to maintain stable TPS as transaction loads increase.

Shibarium has had an impressive run

Despite scalability concerns, Shibarium has logged impressive milestones that underscore its potential. The total lifetime transaction count now exceeds 3.9 million, while the total blocks produced have exceeded 1.62 million.

These are solid figures for a new layer-2 player without core blockchain functionality. It also indicates a brighter future for Shiba Inu’s ecosystem, with many dApps slated for the layer-2.

Lead SHIB developer Shytoshi Kusama has promised major project rollouts and reminded the community of SHIB’s bull run readiness. With developer activity robust, there is renewed optimism around SHIB as Shibarium aims to unlock greater utility.

However, ensuring smooth scaling remains crucial. As a high-profile layer-2 catering to the popular meme coin, it will need to demonstrate stable TPS growth as transaction volumes rise.