Author: Jet Encila

XRP Price Rebounds, Up 6% In 24 Hours, After Suffering Major Hiccup

Jet Encila

XRP price shoots 6% over the past 24 hours despite suffering a slump of 28% on April 16. The crypto was able to bounce back on May 1 and get stronger by the day with a surge of 12%. XRP is set on its road to recovery in the coming weeks. Suggested Reading | What’s In A Name? Ethereum Domain Name Sales Climb 2,300% XRP’s expected jump would be at 30% in Q2 this year. (Image credit: Dreamstime.com) Ripple (XRP) – Pioneering The Crypto Scene XRP was one of the…

Tether (USDT) Q1 Trading Volume Plunges To $5.3 Trillion In Quarterly Low

Jet Encila

With the chaotic phase that the crypto market is going through, Tether (USDT) trading volume in Q1 of 2022 plunged lower compared to the same quarter of last year. The total Tether transaction for the first quarter of 2022 is 26,454. Even though the bearish trend has seen many investors turning to stablecoins, the interest of investors for USDT remains a bit controlled. Tether is dubbed to be a stable crypto because unlike Bitcoin, Tether is pegged with the US dollar which means it retains a consistent value over time.…

SEC, Ripple Agree To Extend Legal Battle Until 2023; XRP Bears The Brunt Of Case

Jet Encila

Executives of Ripple Labs and the US Securities and Exchange Commission have agreed to prolong the timeline of their lawsuit and postpone court proceedings until the end of 2022, implying that their legal standoff would likely last well into next year. Both parties jointly requested the extension in a letter to Judge Sarah Netburn, who has been presiding over the case. Judge Netburn granted approval of the revised schedule. Suggested Reading | Ripple Welcomes More Than 4,000 Artists Into Its New NFT Platform How Case Vs. Ripple Began Between 2013…

Terra’s Stablecoin UST Is Now Crypto’s Third Biggest

Jet Encila

Terra’s US dollar-pegged algorithmic cryptocurrency UST is moving up the ladder and now ranks third in terms of overall market capitalization. Today, the fast-growing Terra USD (UST) stablecoin from the Terra ecosystem passed another pivotal point, reaching a market valuation of more over $17 billion. As of Tuesday, UST had eclipsed the BSC-based stablecoin BUSD in market capitalization by more than $67 million. UST was operations in September 2020. To mint an equivalent amount of UST, a user must burn a reserve asset such as Terra (LUNA). UST Making Headlines This…

Bitcoin Continues To Slide As Macroeconomic And Geopolitical Anxiety Persist

Jet Encila

Bitcoin sank to an intraday low of $39,714.69 on Friday, following a late surge above Wednesday’s critical resistance level of $41,500. BTC was down as traders braced themselves for the lengthy Easter weekend. Bitcoin – the world’s most sought-after digital asset – has fallen about $10,000 from a two-week high of $48,220, its highest level in over four months. However, following weeks of retreats, it looks as though market analysts have identified a stable floor at $39,300, with bulls now attempting to drive prices higher once more. Related Article |…

Ethereum Sees Biggest Exchange Withdrawals This Year

Jet Encila

Over 180,000 Ethereum (ETH) tokens have been pulled out from centralized exchanges in the last 24 hours, as traders seek to preserve their cryptocurrency in expectation of bullish price action. According to a March 18 tweet from crypto market analysis site IntoTheBlock, more than $500 million worth of Ethereum was withdrawn on March 16 across a number of different CEXs (including Binance, Kraken, and Crypto.com). Given that the price of one ETH was $2,590.40 on the date of the analysis, the value of the tokens withdrawn was more than half a billion…

Data Show Rubble-Denominated Crypto Pairs Are Spiking

Jet Encila

Russian rubles are now flooding into Tether, while rubble-denominated crypto pairs are on the rise on major crypto exchanges. Between February 20 and February 28, Bitcoin volume surged by 243%, from 522 to 1,792 BTC traded via Binance’s BTC/RUB combo. A Russian government study claimed Russians held 2 trillion rubles ($20 billion) in cryptocurrencies. Related Article | Bitcoin Staggers After Putin’s Nuclear Deterrence Alert Warning Rubble-Denominated Crypto Pairs Surge On February 28, a tremendous spike in the volume of the ruble pairings in Binance, especially in USDT, became apparent, with…

Bitcoin As Safe Haven Asset On The Spotlight As BTC Crosses $43K

Jet Encila

According to figures from Coinbase and Coindesk, cryptocurrency values have risen nearly as swiftly as they fell, with some analysts referring to Bitcoin’s capacity to act as a safe haven asset during times of global turmoil. The cryptocurrency market cap reached $1.7 trillion today, indicating that the broader crypto industry has rebounded nicely. Bitcoin is active today, trading at $43,232.38, up by 14.40% since Monday. It is within the boundaries of a bullish trend that may affect the cryptocurrency market until the coming weeks. BTC posted a high of $43,760.46…

Criminal Whales Hold $25 Billion In Crypto Assets: Chainalysis Report

Jet Encila

Chainalysis recently published a study on criminal enterprises, specifically the so-called criminal whales, that retain vast sums of money in the form of cryptocurrencies. The study claimed that criminal whales still hold $25 billion in crypto assets despite substantial law enforcement seizures last year. Cryptocurrency had a solid year in 2021, reaching a value of over $3 trillion in November, while bitcoin, which accounts for around a third of all cryptocurrency, also achieved a high until plummeting by more than 40% last week. Criminals who stole bitcoin were among the…

Bitcoin Staggers After Putin’s Nuclear Deterrence Alert Warning

Jet Encila

Bitcoin’s price increased momentum early Monday, breaking through the 38,500 barrier zone, but mostly wobbled after Russian President Vladimir Putin’s nuclear deterrence alert announcement. The cryptocurrency attempted an upside run beyond $39,500 and $40,000 but corrected down on Sunday as Putin increased the alert level on his country’s nuclear deterrence in the face of new Western sanctions for assaulting Ukraine. Following a 0.27% decrease on Saturday, Bitcoin fell 3.65% to close the week at $37,704. Additionally, it was a gloomy session for the remaining major cryptocurrencies. AVAX was down 8.07%,…