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$XRP The US Securities and Exchange Commission’s (SEC) refusal to extend the deadline to file its appeal brief against Ripple highlights the ongoing tension between the two sides. Ripple’s chief legal officer, Stuart Alderotti, expressed his dismay at the decision, noting that the company had tried unsuccessfully to request an extension.
Context:
Change in SEC Leadership:
Current SEC Chairman Gary Gensler will step down on January 20, potentially leading to a shift in the SEC’s stance on crypto regulation, particularly under the leadership of Paul Atkins, who is known for his pro-innovation stance in the crypto space.
Ripple’s Efforts:
Despite the legal battles, Ripple continues to invest in charitable initiatives. Its recent contributions include supporting California wildfire relief efforts, reflecting its desire to maintain a positive image amid the legal disputes.
XRP Price Development:
Price Increase: The price of the digital currency XRP has increased significantly, as it is currently trading at $2.8 after being at its lowest levels at $2.5 during the previous day.
Resistance Points: The coin is approaching the $2.90 resistance level, which is its highest price in six years, with investors expecting a new historical high in the coming weeks.
Context:
Change in SEC Leadership:
Current SEC Chairman Gary Gensler will step down on January 20, potentially leading to a shift in the SEC’s stance on crypto regulation, particularly under the leadership of Paul Atkins, who is known for his pro-innovation stance in the crypto space.
Ripple’s Efforts:
Despite the legal battles, Ripple continues to invest in charitable initiatives. Its recent contributions include supporting California wildfire relief efforts, reflecting its desire to maintain a positive image amid the legal disputes.
XRP Price Development:
Price Increase: The price of the digital currency XRP has increased significantly, as it is currently trading at $2.8 after being at its lowest levels at $2.5 during the previous day.
Resistance Points: The coin is approaching the $2.90 resistance level, which is its highest price in six years, with investors expecting a new historical high in the coming weeks.
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Cryptocurrency exchange Binance has announced its intention to enter the Saudi market by seeking the necessary licenses from the Kingdom’s regulatory authorities, including the Saudi Central Bank (SAMA) and the Capital Market Authority.$BNB
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$SEI The Sei project is a layer-1 blockchain designed specifically to meet the needs of decentralized exchanges (DEXs) in the fields of decentralized finance (DeFi), non-fungible tokens (NFTs), and digital games. The project aims to provide high performance while maintaining security and decentralization, making it a strong competitor in the digital currency market.
High performance and execution speed: The Sei network features an ultra-fast execution speed, reaching transaction confirmation within 380 milliseconds, with the ability to process 12,500 transactions per second. This performance makes it suitable for applications that require fast interactions, such as high-frequency trading and real-time digital exchanges.
Advanced architecture: Sei relies on a parallelized runtime architecture that enhances scalability and development flexibility. It also takes advantage of proven technologies such as Tendermint and WASM consensus to ensure security and reliability.
Strategic Partnerships and Investments: The C project has received support from prestigious investment institutions, reflecting their confidence in its future potential. For example, Multicoin led the project’s initial funding round, expressing its admiration for the speed of implementation and the progress achieved by the team.
High performance and execution speed: The Sei network features an ultra-fast execution speed, reaching transaction confirmation within 380 milliseconds, with the ability to process 12,500 transactions per second. This performance makes it suitable for applications that require fast interactions, such as high-frequency trading and real-time digital exchanges.
Advanced architecture: Sei relies on a parallelized runtime architecture that enhances scalability and development flexibility. It also takes advantage of proven technologies such as Tendermint and WASM consensus to ensure security and reliability.
Strategic Partnerships and Investments: The C project has received support from prestigious investment institutions, reflecting their confidence in its future potential. For example, Multicoin led the project’s initial funding round, expressing its admiration for the speed of implementation and the progress achieved by the team.
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$BTC The European Union imposes the delisting of USDT from European trading platforms
In a new move aimed at regulating the digital currency market, several European trading platforms announced the delisting of Tether (USDT), one of the most popular stablecoins in the world, by December 30, 2024. This decision came in response to the directives of the European Union regulatory bodies, which confirmed that the currency does not meet the required standards according to the European legal framework.
Reasons for delisting
This action is attributed to several factors, including:
1. Lack of transparency: Regulators raised concerns about USDT reserves and their backing mechanism.
2. Non-compliance: Tether did not meet the required standards according to the European Markets in Financial Instruments Act (MiCA).
3. Security concerns: The move aims to protect consumers and ensure financial stability in the digital market.
Impacts on the market
The delisting of USDT is expected to affect users and investors in Europe, as it is the most widely used stablecoin in digital trading and decentralized finance. This decision is likely to lead to:
A shift in liquidity to other stablecoins such as USDC and DAI.
Increased demand for alternatives that comply with European regulations.
Risk of market volatility due to the heavy reliance on USDT for trade settlement.
In a new move aimed at regulating the digital currency market, several European trading platforms announced the delisting of Tether (USDT), one of the most popular stablecoins in the world, by December 30, 2024. This decision came in response to the directives of the European Union regulatory bodies, which confirmed that the currency does not meet the required standards according to the European legal framework.
Reasons for delisting
This action is attributed to several factors, including:
1. Lack of transparency: Regulators raised concerns about USDT reserves and their backing mechanism.
2. Non-compliance: Tether did not meet the required standards according to the European Markets in Financial Instruments Act (MiCA).
3. Security concerns: The move aims to protect consumers and ensure financial stability in the digital market.
Impacts on the market
The delisting of USDT is expected to affect users and investors in Europe, as it is the most widely used stablecoin in digital trading and decentralized finance. This decision is likely to lead to:
A shift in liquidity to other stablecoins such as USDC and DAI.
Increased demand for alternatives that comply with European regulations.
Risk of market volatility due to the heavy reliance on USDT for trade settlement.
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Ripple’s case with the US Securities and Exchange Commission (SEC) is witnessing developments that could have major implications for the future of cryptocurrencies in general. According to economic journalist Gasparino, there is a possibility that the ruling in Ripple’s favor could be reversed or even the case could be dismissed altogether. This possibility could increase in light of potential political changes, such as the resignation of SEC Chairman Gary Gensler, especially if there is a change in the political administration with Donald Trump taking office.
Possible scenarios and their impact:
1. Gary Gensler’s resignation:
Gensler is considered one of the most stringent figures in regulating the cryptocurrency market, and his resignation could lead to major changes in the SEC’s strategy, with the possibility of appointing new leadership that adopts more open policies towards cryptocurrencies.
2. Dismissal of the case or reversal of the ruling:
If the court decides to reverse the ruling or dismiss the case entirely, this could have a significant impact on strengthening Ripple’s position and confirming the legitimacy of other cryptocurrencies in the market. This could push traditional financial institutions to adopt these technologies more widely.
3. Change in strategy within the SEC: There is speculation that the SEC may reconsider its position on Ripple and similar issues, especially as legal and political pressure increases. A change in political leadership could accelerate this review process.
$XRP
Possible scenarios and their impact:
1. Gary Gensler’s resignation:
Gensler is considered one of the most stringent figures in regulating the cryptocurrency market, and his resignation could lead to major changes in the SEC’s strategy, with the possibility of appointing new leadership that adopts more open policies towards cryptocurrencies.
2. Dismissal of the case or reversal of the ruling:
If the court decides to reverse the ruling or dismiss the case entirely, this could have a significant impact on strengthening Ripple’s position and confirming the legitimacy of other cryptocurrencies in the market. This could push traditional financial institutions to adopt these technologies more widely.
3. Change in strategy within the SEC: There is speculation that the SEC may reconsider its position on Ripple and similar issues, especially as legal and political pressure increases. A change in political leadership could accelerate this review process.
$XRP
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$BTC
Ethiopia Uses Grand Ethiopian Renaissance Dam to Mine Bitcoin: Economic Opportunity or Energy Crisis?
Addis Ababa -
Ethiopia Uses Grand Ethiopian Renaissance Dam to Mine Bitcoin: Economic Opportunity or Energy CrisisRenewable Energy with Bitcoin
The Grand Ethiopian Renaissance Dam, which cost about $4.8 billion, is expected to produce 5,150 megawatts of electricity, allowing Ethiopia to export energy to neighboring countries, in addition to using it internally. However, part of the surplus electricity has been allocated to Bitcoin mining activities, which require large amounts of energy and are considered a profitable sector globally.
According to local reports, the Ethiopian Electric Power Company has signed agreements with 21 companies, mostly Chinese, to provide them with electricity needed for Bitcoin mining at competitive prices of about 3.14 US cents per kilowatt hour.
Domestic Challenges
Despite official optimism, the use of the dam to mine cryptocurrencies has drawn criticism at home and abroad. About half of Ethiopia’s population suffers from electricity shortages, making it a priority to provide power to homes and public facilities.
Some observers believe that the government’s focus on Bitcoin mining could exacerbate the social crisis, especially in rural areas that lack basic infrastructure.
Political and economic dimensions
The decision comes at a time when Ethiopia is experiencing regional tensions over the Grand Ethiopian Renaissance Dam,
Ethiopia Uses Grand Ethiopian Renaissance Dam to Mine Bitcoin: Economic Opportunity or Energy Crisis?
Addis Ababa -
Ethiopia Uses Grand Ethiopian Renaissance Dam to Mine Bitcoin: Economic Opportunity or Energy CrisisRenewable Energy with Bitcoin
The Grand Ethiopian Renaissance Dam, which cost about $4.8 billion, is expected to produce 5,150 megawatts of electricity, allowing Ethiopia to export energy to neighboring countries, in addition to using it internally. However, part of the surplus electricity has been allocated to Bitcoin mining activities, which require large amounts of energy and are considered a profitable sector globally.
According to local reports, the Ethiopian Electric Power Company has signed agreements with 21 companies, mostly Chinese, to provide them with electricity needed for Bitcoin mining at competitive prices of about 3.14 US cents per kilowatt hour.
Domestic Challenges
Despite official optimism, the use of the dam to mine cryptocurrencies has drawn criticism at home and abroad. About half of Ethiopia’s population suffers from electricity shortages, making it a priority to provide power to homes and public facilities.
Some observers believe that the government’s focus on Bitcoin mining could exacerbate the social crisis, especially in rural areas that lack basic infrastructure.
Political and economic dimensions
The decision comes at a time when Ethiopia is experiencing regional tensions over the Grand Ethiopian Renaissance Dam,
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BlackRock planning to convert its Bitcoin sales to XRP, according to X posts
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$BTC Here are the latest developments in the cryptocurrency market as of today, December 26, 2024
Bitcoin BTC drops
Bitcoin saw significant volatility, rising above $99,000 this morning before falling back to around $95,662, reflecting a 2.58% decline in the past 24 hours.
Ethereum ETH drops
Ethereum price fell below $3,400, recording a 2.48% decline in the past 24 hours.
Cryptocurrency news highlights
Bitcoin used in Russian foreign trade: Russian companies have begun using Bitcoin and other cryptocurrencies in international payments, following legislative amendments that allowed this to be done in response to Western sanctions.
Bitcoin ETFs Outflows: BlackRock’s iShares Bitcoin ETF saw record outflows of $188.7 million on Tuesday, raising concerns about the future implications for the cryptocurrency market.
PENGU Rallies: PENGU, the native token of the popular NFT collection Pudgy Penguins, has surged 600% over the past week, catching the attention of cryptocurrency investors.
Note: The cryptocurrency market is volatile, so investors are advised to follow news and developments regularly and make investment decisions
Bitcoin BTC drops
Bitcoin saw significant volatility, rising above $99,000 this morning before falling back to around $95,662, reflecting a 2.58% decline in the past 24 hours.
Ethereum ETH drops
Ethereum price fell below $3,400, recording a 2.48% decline in the past 24 hours.
Cryptocurrency news highlights
Bitcoin used in Russian foreign trade: Russian companies have begun using Bitcoin and other cryptocurrencies in international payments, following legislative amendments that allowed this to be done in response to Western sanctions.
Bitcoin ETFs Outflows: BlackRock’s iShares Bitcoin ETF saw record outflows of $188.7 million on Tuesday, raising concerns about the future implications for the cryptocurrency market.
PENGU Rallies: PENGU, the native token of the popular NFT collection Pudgy Penguins, has surged 600% over the past week, catching the attention of cryptocurrency investors.
Note: The cryptocurrency market is volatile, so investors are advised to follow news and developments regularly and make investment decisions
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$XRP Ripple’s RLUSD Stablecoin Officially Launched with New York Department of Financial Services Support
Ripple officially announced the launch of its RLUSD stablecoin in December, after receiving approval from the New York Department of Financial Services (NYDFS). The stablecoin, which is pegged 1:1 to the US dollar, is part of Ripple’s strategy to enhance cross-border payment solutions.
Widespread Adoption
Upon launch, several trading platforms adopted the new stablecoin, including Uphold, Bitstamp, and Bitso. Recently, Bullish added RLUSD to its roster, offering a wide range of trading pairs across major cryptocurrencies and fiat currencies.
Initial Volatility and Relative Stability
RLUSD saw minor price fluctuations upon launch, ranging between $0.96 and $1.06. However, the price has currently stabilized at around $0.99.
In this context, David Schwartz, Ripple's chief technology officer, indicated that initial volatility is expected. He explained that stablecoins are designed to provide stability in the market and not to generate large profits, warning against speculation on them.
Impact on XRP Price
The launch of "RLUSD" coincided with a significant increase in the price of Ripple's digital currency XRP, as its price rose to 2.$70 before seeing a drop to less than $2.
Ripple officially announced the launch of its RLUSD stablecoin in December, after receiving approval from the New York Department of Financial Services (NYDFS). The stablecoin, which is pegged 1:1 to the US dollar, is part of Ripple’s strategy to enhance cross-border payment solutions.
Widespread Adoption
Upon launch, several trading platforms adopted the new stablecoin, including Uphold, Bitstamp, and Bitso. Recently, Bullish added RLUSD to its roster, offering a wide range of trading pairs across major cryptocurrencies and fiat currencies.
Initial Volatility and Relative Stability
RLUSD saw minor price fluctuations upon launch, ranging between $0.96 and $1.06. However, the price has currently stabilized at around $0.99.
In this context, David Schwartz, Ripple's chief technology officer, indicated that initial volatility is expected. He explained that stablecoins are designed to provide stability in the market and not to generate large profits, warning against speculation on them.
Impact on XRP Price
The launch of "RLUSD" coincided with a significant increase in the price of Ripple's digital currency XRP, as its price rose to 2.$70 before seeing a drop to less than $2.
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$HBAR HBAR coin is the digital currency of the Hedera Hashgraph network, a network based on an innovative technology called "Hashgraph", which is different from traditional blockchain technology. Here is a simple explanation of the HBAR coin and the work of the Hedera network:
What is the Hedera HHashgraphm network
The Hedera network is a decentralized platform that provides services such as smart contracts, data storage, and value transfer.
It is based on Hashgraph technology, which is considered faster and more efficient than blockchain in terms of speed and scalability.
It is designed to be an alternative for applications that require high performance, such as payment systems or decentralized applications (DApps).
HBAR coin Primary role
It is used to pay transaction fees on the network.
It is used as an incentive for participants who help run the network (such as verifying transactions).
HBAR coin advantages:
High speed: It can process thousands of transactions per second.
Low cost: Transaction fees are very cheap (less than $ 0.01 per transaction).
Energy Efficient: It is considered one of the most environmentally friendly networks compared to other currencies such as Bitcoin.
Security in the Hedera Network
The network is based on a protocol called Asynchronous Byzantine Fault Tolerance (aBFT), which is a very high level of security that prevents any hacking or manipulation.
Uses of hbar
Payment for services on the network.
Running decentralized applications.
What is the Hedera HHashgraphm network
The Hedera network is a decentralized platform that provides services such as smart contracts, data storage, and value transfer.
It is based on Hashgraph technology, which is considered faster and more efficient than blockchain in terms of speed and scalability.
It is designed to be an alternative for applications that require high performance, such as payment systems or decentralized applications (DApps).
HBAR coin Primary role
It is used to pay transaction fees on the network.
It is used as an incentive for participants who help run the network (such as verifying transactions).
HBAR coin advantages:
High speed: It can process thousands of transactions per second.
Low cost: Transaction fees are very cheap (less than $ 0.01 per transaction).
Energy Efficient: It is considered one of the most environmentally friendly networks compared to other currencies such as Bitcoin.
Security in the Hedera Network
The network is based on a protocol called Asynchronous Byzantine Fault Tolerance (aBFT), which is a very high level of security that prevents any hacking or manipulation.
Uses of hbar
Payment for services on the network.
Running decentralized applications.
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$USUAL USUAL Coin: An Innovative Stablecoin Project
What is USUAL Coin?
USUAL Coin is a digital currency launched with the aim of developing an innovative system to support and develop stablecoins in the blockchain world. USUAL focuses on creating an integrated platform that redefines the concept of stablecoins by providing new technical and financial solutions that enhance transparency and decentralized governance.
Source: ntat24
What is USUAL Coin?
USUAL Coin is a digital currency launched with the aim of developing an innovative system to support and develop stablecoins in the blockchain world. USUAL focuses on creating an integrated platform that redefines the concept of stablecoins by providing new technical and financial solutions that enhance transparency and decentralized governance.
Source: ntat24
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$XRP What do you think of it at the beginning of the year 2025?