Ripple, the global payment platform that owns the digital asset XRP,
is said to be launching a market-making platform for XRP through a company spokesperson.
So far, Ripple has denied this fact.
You may not want to confirm the news right now, but the initial recruitment for
this seems to have started with a team of 10 people in Singapore and London, which is also looking for arbitrage opportunities and marketing and salespeople , as well as engaging with the community and liquidity providers and exchanges.
It is likely that there will be cryptocurrency traders. Such a platform will allow Ripple to manage the liquidity and market circulation
of XRP even if other exchanges are forced to delist it in the future. The story of a court battle over allegations of employees offering
unregistered securities to the U.S. public continues
This has caused
major exchanges like Coinbase to stop trading. If this spreads and the
SEC continues to hit Ripple, it could lead to the delisting of XRP on most exchanges around the world
, which is bad news for the community. Therefore, it is timely
to launch its own market-making platform dedicated
to XRP so that Ripple does not
have to rely on other platforms and exchanges.
However, XRP has recently attracted attention for other reasons. After weeks of voting,
a proposal to lower the reserve requirement for the XRP ledger was passed a day ago. Under the new requirement, the minimum reserve requirement has
been lowered from 20 XRP tokens to 10 XRP tokens. When opening a new account on the ledger to defend against
These changes are necessary when the price of XRP rises. So, is it feasible to expect the price of XRP to rise sharply soon
? Over the past 24 hours, the
market has not been kind to XRP. It has fallen more than 10%, especially XRP was trading below $1 at press time.
measures the relationship between market cap and transfer (traded) volume and is quite consistent with the price-to-return ratio in the traditional financial world.
The price of alt reacted seldom positively with each of these spikes
, so it doesn't make much sense at this point to expect the price of XRP to reverse its downtrend. Also, risk-adjusted returns also
appear to be declining at the time of writing. )
It should be noted that the index plummeted from 9 to 2 in the past month.
Also, XRP's Sortino index seemed to be quite low at 0.101 compared to competing coins. Typically, XRP's competitor
Solana's Sortino index is It is currently 0.35. In fact
, the index for XRP's counterpart coins such as DOT was also quite high. Therefore, in terms of price increase and risk-adjusted returns, XRP's competing coins show relatively
good numbers . Based on the results of the aforementioned index, in the short term As a result, it becomes clear that the
chances of XRP rising above $1.5 are quite slim.
Tell Noh the lawsuit between the SEC and Ripple
could be a catalyst for establishing regulation of the crypto asset system.
Securities and Exchange Commission and Finn A seemingly esoteric legal dispute involving tech startup Ripple Labs could provide clarity on just how much power the SEC has
over regulating the $2.2 trillion crypto market
The move began when the SEC filed a lawsuit claiming that
Ripple Labs, a global payment platform, violated securities laws by not registering the XRP cryptocurrency as a security.
It was one of the last actions the then SEC Chairman, Jay Clayton, took
The lawsuit not only shocked Ripple, but
added even more confusion to the already complex regulatory framework over whether cryptocurrencies should be considered securities products or otherwise. Ripple does not need a green signal from the
SEC because Ripple believes that XRP is not a security
. Moreover, the SEC currently does not want to trade other cryptocurrencies like Bitcoin and Ethereum as commodities.
The blockchain network of these cryptocurrencies
does not need to be registered as a security, because XRP was
used to actively finance Ripple's business and essentially represents an investment in the company itself.
As such, it constitutes securities rather than commodities and falls under the SEC's regulatory powers under a court case known as the Howi Test
Pat Tumi, a senior member of the U.S.
Senate Banking Committee
, told Fox Business, "Chair Gensler and The SEC should provide clear guidelines on which cryptocurrencies are considered securities and which cryptocurrencies are not
. Enforcement regulations are extremely unpleasant and
will stifle domestic innovation.” The lawsuit, which is undergoing retrial, has been found to be detrimental to Ripple's business and has devalued XRP as XRP has been delisted from more than 50 exchanges.
Despite business problems,
Ripple refuses to back down. People closely related to Ripple have
recently said they have no plans to reach a settlement with the
SEC. Gensler vowed to make his early crypto business a top priority during his tenure,
and he was more
of an activist in the crypto space than his predecessor, Clayton . It
admits it is trying to expand its jurisdiction over the
crypto industry by seeking more regulatory authority.
It has announced that it is withdrawing from its crypto-asset loan program
, succumbing to the SEC's threat that it will sue the company if it proceeds with a lending function that can earn interest on stablecoins while lending to other traders.
It is a type of crypto asset pegged to a currency.
The SEC says this feature will consist of securities and therefore
will need to be regulated as an investment product.
It came just two weeks after it was released. As the law gets blurry, other crypto companies may start outsourcing their digital payments business abroad, where attitudes toward cryptocurrencies are much more flexible. How a currency will be defined, whether it will be treated like a stock commodity or a type of currency of its own, and
whether it can be regulated in the aggressive way Gensler envisioned.
It will be a litmus test. Meanwhile, cryptocurrency market strategist Dave the Wave
predicted a drop of $20,000 for Bitcoin in the
ongoing correction. He says that the current price action
looks similar to 2014, when the price action plummeted from $988 to $160 "Some have compared the price action to 2013, but comparing it to
2014 is also relevant . and risk management can be considered and this would be my worst case scenario.
"The bearish outlook for Bitcoin will turn bullish in two to three months," he
said, adding that now is the time to invest in altcoins with better volatility returns.
The Fear and Greed Index is an indicator of trader sentiment across the cryptocurrency market
towards Bitcoin The indicator
has signaled extreme fear among market participants Historically, excessive fear has
The trade yielded far below its intrinsic value , and
analysts view the indicator as a gauge and predict further corrections in asset prices. Noting that traders' bitcoin outlook is bearish , represented by extreme fear on the indicator.
Seychelles-based cryptocurrency exchange OKEX recently shared its stats on bitcoin options on Twitter, with the exchange showing 69% of bitcoin bears.
Taking note of the taker flow of , they aggressively extended their positions ahead of the expected price drop.
bearish sentiment penetrated the market, cryptocurrency analysts on Twitter were
relatively Acknowledgment that high volatility has reduced Bitcoin trading activity and
increased the size of altcoin positions Analysts expect further declines in asset prices Crypto analyst Daniel Cho
says $40,100 is the lowest price for Bitcoin Joe says another $2 billion BTC price
is expected to recover after the market cap
of the asset
is exhausted The stock market
appears to be leading the correction , but data
doesn't stop pro traders from buying BTC dips.
Bitcoin investors believe China's second-largest real estate developer, Evergrande Group, will default on $300 billion in debt. There
seems to be concern that speculation is growing These concerns are
seen in the global stock market, which fell 1.5% to 3% at the opening this morning Despite price movements, exchange outflows of BTC
continue its multi-month straight trend, especially on Coinbase Pro. Traders are also aware that each exchange has
different users' investment propensities .
For example, investing on
Bybit tends to be more extreme compared to FTX, which is known to have more conservative customers. The current drop is $43,000. fell below, which resulted in the liquidation of a $1 billion short buy led by
Bybit, despite open settlements of $2.34 billion in the futures market,
a figure of $3.66 billion on Binance and $25 billion on
FTX. Lower than liquidation of $110 million Data shows that Bybit traders are generally
more risk-taking investors with higher leverage, while Binance and FTX derivatives investors move down 11% per day In order to
understand how bullish or bearish professional traders are
leaning, we need to analyze the futures premium.
Measures the difference between the contract and the current spot market level. In a healthy market,
a premium of 5% to 15% per annum is expected , a situation known as 'contango'. This price gap requires more money to hold payments longer. Whenever this indicator fades or turns negative , a red alert known as 'backwardation' will be issued. The current 7% annual premium is
neutral but consistent with the previous month's average . Had we been
worried or weakened, this indicator would have fallen below 5%. Investors
should monitor the buy-to-sell ratios of top traders on leading cryptocurrency exchanges to accurately gauge the position of professional traders. This metric is based on several futures and margin markets
You can fully view a trader's effective net position by
collecting data from
Comparisons between different providers should be made due to the change in OKEX’s top traders’ buy-and-sell ratio, from 8% preferring to buy to 54% now
, the highest level in 10 days, while Binance derivatives traders are on the lookout for Bitcoin price adjustments.
Both data confirm that retail investors are
more likely to be affected by higher levels of bullishness
Pro traders can either hold their positions or take advantage of discounted prices. According to data from digital asset manager CoinShares, cryptocurrency investment products and funds flowed in for the fifth straight week as market sentiment continued to improve in the sector. $41.6 million
in inflows for Bitcoin, $15.3 million for Ethereum products, and $6.6 million for Ethereum products.
Digital currency inflow was
still at $59.66 billion , said James Butterfeel, investment strategist at
Coinshares. Bitcoin was hit hardest by negative sentiment inflows in three of the last 16 weeks, the report said, suggesting some investors are taking advantage of the recent weakness in prices and
the continued rise in altcoin popularity, the
report said. The market share of managed assets fell to 67% on Friday from 81% in January, he added. Bitcoin inflows totaled $4.2 billion this year. Blockchain data provider Glassnode said in a recent note on Monday that uncertainty in China's credit market
grew However, the report points out that Bitcoin price action and online investor
response appear relatively robust despite this landscape. Glassnode says Bitcoin is forming an integrated trading scope.
It broke the $52,000 mark on the 6th of the month, a four-month high, but is
now down 7.4% to $43748.
Meanwhile, crypto investor Anthony Pompliano talked about
bitcoin's acceptance as a global reserve currency in a recent podcast.
“It will look very different 25 years from now. Currently, the US dollar is considered the world reserve currency, with more than 60% of banks around the world maintaining currency reserves
. According to Pompliano, it is "Don't think Bitcoin will compete with fiat currency as much as people think ," he said, as the dollar would lose value as central banks continue to create more national currencies.
He also emphasized the advantage that Bitcoin has no conversion cost when used in any country.
He thought it was a safe place. Likewise
, Anthony Scaramucci, founder of Skybridge Capital. He also expressed hope that Bitcoin would be acquired as a global reserve currency.
predicted that the US would soon digitize the dollar. Moreover, debating Bitcoin's volatility, he said, "Bitcoin is volatile because it is in its early adoption stage
. Amazon had a similar volatility curve 24 years ago,
but if you invested $10,000 in Amazon's IPO, you would have $21 million today."
He predicted a possible scenario, "One is that they are competing directly with each other and Bitcoin is winning and fiat currency is
losing," he said.
In this case, the government
will have to digitize fiat to remain relevant.
Bitcoin has value in multinational markets. However, the International Monetary Fund recently
expressed concern over El Salvador's adoption of Bitcoin. The IMF stressed that Bitcoin adoption
would threaten macroeconomic stability. James Bull of the St. Louis Federal Reserve earlier this year
"As for Fed policy, on the surface, it
still looks like a dollar economy," Ladd said. We don't know if that will change yet." But on a global platform, Pompliano
agreed that governments that embrace the technology will do much better than governments that have a hard time adopting it.
Cardano's ADA token was
expected to rise to $3 in early September . According to Coinbase, Ada
peaked at $3.10 on September 2nd.
traded at $ 2.13, up nearly
2300%, Green said .
It won't," he says. He says it will now hit $4 by the end of the year , representing an increase of 91% . When it comes to crypto predictions, it's
not hard to find such bullish prospects, but recent records show they are
worth paying attention to. Bitcoin soaring to a record above $60,000 in April may have seemed impossible for a trade close to $7,000 a year ago
Cardano went from a little-known token to becoming the third-largest token by market cap in August, etc.
It kicks off an equally formidable rally, which foreshadows the surge in altcoins that took place this year, but some analysts , including JPMorgan's chief digital asset expert,
warn that the rally cannot be sustained.
He said that he pays much attention to the usefulness of the network.
They are more likely to succeed, and the longer a cryptocurrency has been on the market, the longer it will last for a cryptocurrency that earns trust and is developed on a strong network
say it will also contribute to his bullishness on Ethereum, which he predicts will continue to outperform Bitcoin for the rest of 2021.
Ethereum has a higher real-world usage potential because a second ETH 2.0 transition has made the
Ethereum network significantly scalable, sustainable and secure, Green wrote, with Bitcoin reaching $65,000 before the end of the year . He expects it to recover, which he thinks is about a 50% increase from its current price, but he thinks the Ethereum has a much brighter future.
Green says most analysis suggests
that XRP could experience a similar breakout to
Cardano in the coming months CEO Brad Garlinghouse noted that the company is likely to go public someday
Investors, the availability of Bitcoin ETFs, the NFT market, and influencers like Elon Musk
write that we need to track trends, etc.
But in the short term, he writes that regulation of digital currencies
will either make the market more volatile or prevent the current bull market altogether. He
is not particularly concerned about increasing
regulation of digital currencies, despite
the possibility It should be, suggesting that regulation will give investors more confidence and pave the way for wider crypto adoption. Work’s development team, IOHK, has
announced a new solution for the network. After smart contracts are launched on the network, they have moved on to other projects to ensure that the network meets all the needs of
developers. The Cardano hard fork puts more potential for development to the fore. Despite developers outside of the major Cardano project developing their own solutions and protocols that run on the network,
IOHK is committed to making the network
more scalable and secure for users. This is why the release of the Hydra Layer 2 solution
is important to the ecosystem. Hydra is a Layer 2 blockchain solution built to run on top of Cardano’s existing Layer 1 blockchain. Hydra essentially
repeats the same ledger representation.
uses an isomorphic state channel that provides an
identical off -chain ledger replica while using
Acts as an extension of existing systems. This Layer 2 solution will provide the scalability
necessary for high-utilization networks to maintain the throughput required for applications built on the blockchain.
works alongside Cardano's existing Layer 1 solution. As things like decentralized finance enter the Cardano ecosystem, it is essential for networks to provide an appropriate fee structure and security on the blockchain. This is where Hydra comes in. Layer 2 protocols
are the This will not only help but also
help lower fees to a sustainable level.
It comes in the form of setting up a fee structure. Hydra
will not be a problem for users with these fees. Not only will it help you set it low enough, but
it will also prevent fees low enough to allow for DDoS attacks.
storage will become an issue over time as transactions grow on the Cardano network layer like Hydra. 2 solutions will alleviate these issues in the future Hydra is
a Layer 2 scalability solution that seeks to address all these concerns, aiming to maximize throughput, minimize latency , lower costs and
significantly reduce storage requirements. ..