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2022-10-09 09:16:02 XRP pumps almost 60% in a month amid minor wins in SEC lawsuit

Amid the ongoing crypto market volatility, XRP appears to defy the odds by recording significant gains as the token’s parent company Ripple continues to be embroiled in a legal tussle with the Securities Exchange Commission (SEC). Indeed, the token has rallied 57.75% in a month with a value of $0.52 by press time after trading at $0.33 on September 8, according to CoinMarketCap data.

XRP’s rally has stood out, considering that most altcoins are still experiencing a downturn in value. Although most assets are trading in the red zone, XRP’s positive gains can partly be attributed to the recent developments in the Ripple case with the SEC. Notably, SEC is suing Ripple for releasing XRP as a security, but the agency’s defense has appeared to falter, translating to the shifting dynamics in XRPs’ price. Recently, the judge overruled the regulator.

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2022-10-08 08:46:03 $590M BNB moved to Tether-blacklisted wallet amid rumors of Binance hack

Two million BNB tokens worth roughly $590 million were transferred to a newly generated wallet to an address that Tether then blacklisted. The blacklisting was highlighted by a Tether bot on Twitter, fueling the rumor of one of the year’s biggest hacks. MevRefund publicized the event on Twitter by posting a suspicious transaction.

At the time of press, CZ, the CEO of Binance, has not commented on the transaction. His last tweet was made an hour before the information became public knowledge and stated, “it’s not about cash flow; it’s crypto flow.” Since the tweet, almost half a billion dollars of BNB has flowed through a now-blacklisted wallet. CryptoSlate’s analysis also arrived at this conclusion as on-chain data shows a large deposit to Venus swapping tokens for stablecoins using the BNB as collateral.

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2022-10-07 08:59:02 Calls mount for Louisiana state to buy Bitcoin following BlackRock divestment

Bitcoin advocates have called for the Louisiana State Treasury to buy BTC after its announcement to divest roughly $794 million held with BlackRock. Louisiana Treasurer John Schroder wrote to BlackRock CEO Larry Fink, expressing his dissatisfaction with the investment firm’s.

The investment policies in question relate to Environmental, Social, and Governance (ESG) principles, which BlackRock has been pushing in what it calls “sustainable investing” standards. However, in a recent annual meeting, it emerged the firm is unwinding ESG support based on shareholder acknowledgment that such policies dictate the pace of green transition without considering other factors. Louisiana’s top industries are petroleum, natural gas extraction, and chemical production.

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2022-10-06 07:57:03 GMX DEX spikes 35% as Binance, FTX announce listing

The native token of decentralized exchange GMX (GMX) has spiked 35% to $54.11 after two leading crypto exchanges announced they would be listing it on Oct. 5. Binance revealed that it would list the token in its Innovation Zone with three trading pairs by 10:00 UTC. FTX also stated that the asset would go live on its platform by 2 PM UTC.

GMX token gained wide popularity in early September when its value rose above the $50 mark during a period when the broader market was trading flat. The DEX allows users to trade spot and perpetual futures at low fees through its trading interface. It is based on two networks, Ethereum layer2 protocol Arbitrum and Avalanche. Defillama data showed that its TVL is currently $453.98 million, with $388.6 million Arbitrum, while $65.38 million is on Avalanche (AVAX). Meanwhile, around $370 million in assets are staked on the platform.

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2022-10-05 09:31:00 European authorities warn growing crypto adoption could affect traditional finance

As the cryptocurrency market expands at an unprecedented rate and digital assets such as Bitcoin (BTC) and Ethereum (ETH) become more commonplace due to, in part, investors ditching fiat, concerns have arisen among major European regulators over what this means for the stability of traditional finance. In the report, the regulator admitted that “at present, crypto-assets are still small in size.

Meanwhile, the ESMA isn’t the only financial authority that is worried about the effect of crypto on traditional financial systems. As it happens, Christine Lagarde, the President of the European Central Bank (ECB), herself has expressed fears that the growth of crypto could represent a threat to the traditional banking system, as Finbold reported. Elsewhere, the governor of the United States Federal Reserve, Michelle W. Bowman, has also raised concerns over multiple issues connected to cryptocurrencies that.

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2022-10-04 09:04:02 Ethereum Staking and Burning Metrics Solid But Bearish Price Prediction Still Looms

Several metrics for the Ethereum network remain bullish but that hasn’t been reflected in the price which could fall further in the short term. With more than 14 million ETH staked and 439,425 active validators, the Ethereum network is looking pretty healthy at the moment. At current prices, that works out as a little over $18 billion representing 11.6% of the entire supply of ETH.

Stakers are being rewarded with a current annual interest rate of roughly 4% which beats anything offered by most high street banks. The ETH locked on the Beacon Chain is still immobile and will not be accessible for a few months when it is likely to be released in stages. Since the Merge on Sept. 15, the total supply has increased by just 0.18%, adding just 10,500 ETH to the circulation. Under periods of heavy demand and network activity,the issuance will become negative as more ETH.

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2022-10-03 08:15:06 Crypto’s Popularity Among American Millennials on the Decline

30% of the surveyed American millennials said they feel comfortable when distributing some of their wealth in digital assets. An analysis carried out by the financial services company – Bankrate – determined that US millennials are not as enthusiastic about cryptocurrencies as they were last year.

Younger generations, including millennials and Generation Z, are among the most active demographic groups in the cryptocurrency space. A recent survey, though, revealed that the former had lost some of their passion for the sector. Bankrate’s employee went further, arguing that cryptocurrency investments rely on “the greater fool theory,” where one can earn profits only by selling their holdings to someone who is willing to pay a higher price than the initial.

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2022-10-02 07:15:09 Bitcoin Mining Company Rhodium Looking to Go Public Via SilverSun Merger

The Texas-based bitcoin mining giant is entering a merger agreement with SilverSun Technologies, a publicly-traded business technology solutions provider, as Rhodium is planning to list on Nasdaq after an initial delay. Meanwhile, the fall in the price of BTC and the ongoing crypto winter has caused bitcoin mining companies to struggle to stay afloat.

In an announcement on Thursday (September 29, 2022), the merger between SilverSun and Rhodium saw unanimous approval from the Board of Directors of both companies. Part of the terms of the deal includes each SilverSun shareholder will receive a cash dividend of a minimum of $1.50 per share, approximately equal to $8.5 million. The shareholders will also get one share of a stock dividend in a newly created SilverSun subsidiary called SWK Technologies.

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2022-10-01 09:53:02 Investors ditch the euro and pound for Bitcoin in record numbers as their value plummets

In the midst of the collapse of multiple fiat currencies worldwide, the cryptocurrency market seems to be going strong, As it happens, investors in the United Kingdom and the European Union are selling their pounds (GBP) and euros (EUR) to purchase Bitcoin in record numbers.

Meanwhile, the Bitcoin and British pound trading volume on exchanges has hit a record high of $881 million as of September 26, outperforming the figure that has historically stood at around $70 million per day, as Finbold reported. At press time, the flagship digital asset is trading at $19,583, up 1.15% on the day and 1.69% across the previous week, as investors are opting for the ‘HODL’ strategy, which is hitting its five-year high despite market volatility. According to CoinMarketCap data, the price of Ethereum stands at $1,346.

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2022-09-30 08:55:03 Chainlink Launches SCALE to Ease Oracle Network Operating Costs

Blockchain oracle provider Chainlink has announced a new program called SCALE for sustainable access for layer 1 and layer 2 enablement. In an announcement on Sept. 28, Chainlink Labs stated that the new initiative allows blockchains and layer-2 networks to fast-track smart contract innovation.

A number of networks, including Avalanche, Metis, Moonbeam, and Moonriver, have pledged support for Chainlink SCALE, onboarding the program to cover certain oracle network operating costs and furthering research and development. SCALE is part of the Chainlink Economics 2.0 program, which targets sustainable growth, crypto-economic security, and deeper value capture in the network.

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