Boson Protocol allows smart contracts to deliver real-world commerce transactions and input commerce data, reliably and autonomously.
Sifchain intention is to be an Omni-chain DEX. It will also clarify the process of blockchain integration, reducing the development process for the open-source community so that additional cross-chain integrations will be cost minimized in terms of money and developer resources.
The leader in blockchain SaaS solutions, token economics design, & community creation.
An important difficulty for participation in Bitcoin mining is the limited number of exit options. BTCST resolves this obstacle by bringing exchange-grade liquidity to mining.
Furucombo is a unique tool develop for end-users to optimize their Decentralized finance (DeFi) strategy just by drag and drop.
As bull rally continues in the crypto sphere, the price of Polkadot has surged more than 60%. As of now, the DOT token is trading for $14.66.
Moreover, Polkadot has also overtaken XRP in terms of market. According to data from CoinMarketCap, Polkadot’s market capitalization hit $13.2 billion for the first time in order to claim the title of the fourth-largest coin, after Bitcoin ($696 billion), Ethereum ($136 billion), and Tether ($24 billion).
Polkadot is a proof-of-stake network created by Gavin Wood and Jutta Steiner. The platform native DOT tokens are utilized for voting on governance concerns and for generating “parachains.” Furthermore, Polkadot is completely interoperable, enabling multiple blockchains to connect to the protocol as a sidechain, and the network can handle thousands of transactions per second.
Kraken Follows Other Exchanges Steps to Suspend XRP Trading
Since the US Securities and Exchange Commission has sued Ripple Labs, along with CEO Brad Garlinghouse and Co-founder Chris Larsen, for raised unregistered securities offerings of almost $1.3 billion, Ripples faces countless problems.
In the wake of the enforcement action, several cryptocurrency exchanges have stopped XRP deposit and withdrawal services. Recently, the San Francisco-based crypto exchange Kraken has announced to suspend XRP trading for US residents on January 29.
“We may begin implementing this process at any time on January 29, 2021, so all U.S. clients are strongly encouraged to resolve their positions prior to that day,” the exchange stated.
The price of XRP has plummeted by more than 9% in the last few days. Currently, It’s trading at $0.28.
Amid the legal uncertainties, Ripple faces countless problems. According to the reports, the US Securities and Exchange Commission, SEC, has sued Ripple and its two executives, CEO Brad Garlinghouse and co-founder Christian Larsen.
In the wake of the enforcement action, several cryptocurrency exchanges, including Coinbase, Bitstamp, Beaxy, CrossTower, OKCoin, and Binance, have stopped XRP deposit and withdrawal services. However, United Kingdom-based cryptocurrency exchange GateHub has decided to resume XRP deposit and withdrawal services.
Based on a January 12 official statement, the firm will keep support XRP till a decision from the SEC makes it mandatory:
“Please be advised that GateHub Ltd. will continue listing XRP until the SEC’s complaint against Ripple is adjudicated, and a final decision entered that XRP is properly classified as a ‘security,’ or until we receive a cease-and-desist notice from the SEC.”
Grayscale Dissolves its XRP Trust
Institutional crypto manager Grayscale Investments has announced to dissolve the XRP Trust. As reported earlier, U.S.-based digital asset manager Grayscale sold all its XRP, planning to distribute the funds to XRP Trust holders after deducting charges.
However, Ripple CEO Brad Garlinghouse recently highlighted that the firm is trying to negotiate with the SEC to settle the matter. In a Twitter thread, Garlinghouse said, “Can’t get into specifics, but know we tried—and will continue to try [with] the new administration—to resolve this in a way so the XRP community can continue innovating, consumers are protected, and orderly markets are preserved.”
As Bitcoin soars above $41000, the daily trading volume of Bitcoin has also smashed a new all-time high of $99 billion, according to metrics site CoinMarketCap.
The surging Bitcoin activities are exerting pressure on several crypto exchanges. Coinbase is the hardest-hit exchange, as reported earlier. The California-based exchange has a history of connectivity issues during periods of high traffic. These disturbances have stopped users from taking advantage of price fluctuations.
According to the reports, Coinbase isn’t the only one to experience technological issues amid the price rallies of Bitcoin. Binance has also suffered outages as Bitcoin’s price soars. On Thursday, Binance stated that system complications occur as the number of users appear on the platform. Binance CEO Changpeng Zhao tweeted that “Bitcoin ATH [all-time high] comes with ATH loads,” and said the exchanges “is experiencing a small WebSocket issue.”
Coinbase Acquires Routefire to Develop its Prime Suite of Brokerage Tools
To handle high traffic activities, Coinbase has purchased Routefire in order to improve trade execution. Jason Victor, CEO of Routefire, stated that the platform would be developing its offering services for Coinbase.
Based on the report, the Routefire team will be designing tools and services for Coinbase Prime, a professional trading platform developed for institutional investors. The premier brokerage platform intends to support financial institutions that are planning to enter the crypto sphere.
In September, MicroStrategy, a mainstream business intelligence firm, had selected Coinbase as the primary execution partner for a Bitcoin purchase worth $425 million, as per an official announcement. As of now, Microstrategy is the fifth-largest individual hodler of Bitcoin. It possesses almost 70,470 BTC, acquired at an average price of $15,964 per Bitcoin.
Since the US Securities and Exchange Commission has sued Ripple and its two executives, CEO Brad Garlinghouse and co-founder Christian Larsen, countless XRP retail holders have been affected. According to Coin Metrics, the number of wallets holding oversized XRP have also fallen from 1721 to 1567.
The firm is trying to negotiate with SEC to settle the matter, as disclosed by Ripple CEO Brad Garlinghouse. In a Twitter thread, Garlinghouse said, “Can’t get into specifics, but know we tried—and will continue to try [with] the new administration—to resolve this in a way so the XRP community can continue innovating, consumers are protected and orderly markets are preserved.”
While responding about paying crypto exchanges in order to list XRP, Garlinghouse said, “Ripple has no control over where XRP is listed, who owns it, etc.”
Exchanges to Discontinue XRP Trading
The US Securities and Exchange Commission lawsuit affirms that Ripple has raised unregistered securities offerings. It further added, “the defendants failed to register their offers and sales of XRP or satisfy any exemption from registration, in violation of the registration provisions of the federal securities laws.”
In the wake of the enforcement action, numerous exchanges, including Coinbase, Bitstamp, Beaxy, CrossTower, OKCoin, and Binance, have stopped XRP deposit and withdrawal services. As of result, the price of XRP has plummeted by more than 50% over the past few weeks. According to data from CoinMarketCap, the price of XRP fell from $0.60 to as low as $0.17.
Bitcoin’s bull rally intensified as the price hit a new all-time high in the first starting week of 2021. Since March 2020, the price of Bitcoin has surged over 400%. After commencing the day nearly at $36,800, Bitcoin keeps accelerating at a steady pace until finally smashing through the $40,000 barrier.
Although prices are skyrocketed, still Bitcoin whales are aggressively acquiring more assets. According to data from crypto exchange Kraken, the number of whales holding more than 100 BTC has soared above 16,300, a level previously recorded in March 2020.
The report further disclosed that these wallet addresses mostly belong to institutional investors. Several new institutional players joined the crypto sphere after mainstream business intelligence firm MicroStrategy made several headlines for its $425 million Bitcoin investment.
As of now, Microstrategy is the fifth-largest individual hodler of Bitcoin. It possesses almost 70,470 BTC, acquired at an average price of $15,964 per Bitcoin. This figure places the firm ahead of the United States government, which holds almost 69,420 BTC.
Major Crypto Exchanges Encounter Technical Issues
Amid the Bitcoin price rally, the four giant cryptocurrency exchanges, including Binance, Coinbase, Kraken, and Gemini, experienced technical problems.
Binance stated that system complications occur as the number of users appear on the platform. Binance CEO Changpeng Zhao tweeted that “Bitcoin ATH [all-time high] comes with ATH loads,” and said the exchanges “is experiencing a small WebSocket issue.
Reportedly Coinbase is one of the hardest-hit exchange. Currently, the site page is filled with users comments who are unable to access the service. Similarly, Kraken and Gemini also suffered technological issues during periods of high traffic.