XRP hits 13-month high versus Bitcoin with 35% daily surge — But is a correction inevitable?

XRP price posted a sharp rally against Bitcoin (BTC) on continued optimism about a potential settlement between Ripple, a San Francisco-based blockchain payment firm, and the U.S. Securities and Exchange Commission (SEC). Settlement rumors fuel XRP price boom  On Sep. 23, the XRP/BTC pair surged to 0.00002877 — its best level in 13 months — from 0.00002132, a 35% price rally versus Bitcoin in one day. Meanwhile, the same timeframe saw XRP rising as much as 42% against the U.S. dollar. XRP/BTC and XRP/USD daily price chart. Source: TradingView The big…

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XRP Outperforms By Adding Over 6% Daily Even In Bloodbath

The crypto market has recorded many devastating events in recent times. Since the market crash in May, crypto asset prices have behaved differently every week. Sometimes price outlook is positive, but other times, it is worse.  From September 15 to date, the volatility in the market has skyrocketed. Asset prices are more bearish than bullish. The merge brought a series of price fall starting from Bitcoin, which lost $1000 a few minutes after the upgrade.  Related Reading: Investors Withdraw ETH Holdings Despite Successful Ethereum Merge Ethereum and other altcoins also…

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Solana outperforms Ethereum in daily transactions in Q2: Nansen report

Hype does not always equate to greater adoption, as the on-chain data from the second quarter of 2022 shows Solana (SOL) surpassing Ethereum in users’ daily transactions despite various drawbacks from both macroeconomic conditions and network outages.  Throughout the second quarter, Solana’s daily transactions consistently increased, ending with more than 40 million daily transactions compared to Ethereum’s 1 million daily transactions between April and June, confirmed Nansen’s State of the Quarter Report. Solana vs. Ethereum daily transaction data. Source: Nansen Solana’s significant increase in daily transactions was observed on daily non-vote…

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Litecoin (LTC) Activates Tortoise Movement, Can It Flip Daily 50 EMA?

Litecoin (LTC) has continued to range in a channel against Tether (USDT) as it attempts to break out of this trend. The price of Litecoin LTC has shown little to no major movement despite the change in trend across the market in recent weeks as many altcoins rallied and produced gains of double digits. (Data from Binance) Litecoin (LTC) Price Analysis On The Weekly Chart Weekly LTC Price Chart | Source: LTCUSDT On Tradingview.com From the chart, the price of LTC saw a weekly low of $45, which bounced from…

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Gamestop NFT Daily Fee Income Falls Below $4,000 As Market Meltdown Spreads

GameStop NFT has produced over $166,800 in sales volume in the last 24 hours; yet, with the platform collecting only a 2.25% charge on NFT purchases, the statistic corresponds to only $3,753 in income. Daily income for GameStop’s nonfungible token (NFT) marketplace has dropped to less than $4,000, indicating that interest in the platform has decreased dramatically since its introduction in mid-July. At the time of writing, the HyperViciouZ project on GameStop has the highest 24-hour sales volume of 29.78 Ether (ETH), valued at around $47,841. Pudgy Penguins, OpenSea’s top-selling…

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Daily Crypto Technical Analysis August 22, 2022: Bitcoin Price (BTCUSD)

Welcome to the first episode of NewsBTC’s all-new daily technical analysis videos. In the first episode, we are looking at Bitcoin price action using the weekly BTCUSD price chart. Specifically, this episode looks at Bitcoin’s “most profitable buy signal” in its entire history: the hash ribbons. In addition, we analyze weekly momentum using the logarithmic MACD to try to understand if a bottom could be in. Take a look at the video below. VIDEO: Bitcoin Price Analysis (BTCUSD): August 22, 2022   All About The Hash Ribbons The Hash Ribbons were…

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GameStop NFT daily fee revenue plunges under $4K as gloom infects markets

Daily revenue for GameStop’s nonfungible token (NFT) marketplace has plummeted to under $4,000, suggesting that interest in the platform has waned significantly since launching in mid-July. According to data from DappRadar, GameStop NFT has generated roughly $166,800 worth of sales volume over the past 24 hours. With the platform charging only a 2.25% fee on NFT sales, the figure equates to just $3,753 worth of revenue during that time. DappRadar’s limited data on GameStop appears to confirm figures actually plunged down to around $2000 as trading volume has pumped 91.23%…

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Technicals suggest Bitcoin is still far from ideal for daily payments

It is no secret that a vast majority of investors, both from the realm of traditional as well as crypto finance, view Bitcoin (BTC) as a long-term store of value akin to “digital gold.” And, while that may be the dominant narrative surrounding the asset, it is worth noting that in recent years the flagship crypto’s use as a medium of exchange has been on the rise. To this point, recently, the central bank of El Salvador revealed that its citizens living abroad have sent over $50 million in remittances…

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NFT hype evidently dead as daily sales in June 2022 dip to one-year lows

Nonfungible tokens (NFT) took center stage in the year 2021 as artists, influencers, A-list celebrities and the sports industry finally came across a fan engagement tool that empowered the general public to cash in on their success. However, the hype around NFT did not manage to stand its ground as sales plummeted to one-year lows amid the ruthless bear market of 2022. The NFT boom, which started in early 2021, upheld its glory until May 2022 — supported by a healthy and bullish crypto ecosystem and positive investor sentiment. However,…

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Integrating blockchain-based digital IDs into daily life

The last 13 years have seen blockchain technology evolve into numerous use cases — finance, data, logistics and security, among others. However, the idea of using blockchain’s immutable capabilities to ID humans got new life when Changpeng “CZ” Zhao visited the island country of Palau to kick off its digital residency program.  The blockchain identity management market is estimated to grow by $3.58 billion in the span of five years from 2021 to 2025. Key factors include the rising demand for digitalization and privacy-respecting identity solutions. As a result, a…

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