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Why Experts Say XRP Is a Game Changer And Number 1 Cryptocurrency?

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5 hours ago

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XRP price has gained notable traction lately, especially amid the ongoing legal developments in the crypto space. Notably, the US SEC has officially filed an appeal in the Ripple SEC case, which has sparked discussions in the broader crypto market. However, despite that, the crypto has managed to stay in the green, while many experts are viewing the crypto as one of the leading altcoins.

What Makes Ripple’s Native Crypto A Game Changer?

A flurry of market analysts appears to have remained bullish on XRP price, as evidenced by their recent comments. For instance, a popular figure in the crypto market, BitBoy has recently lauded the development of Bitwise filing for XRP ETF. In his post, he said that it could be a “game changer” for the crypto that the market was highly anticipating for a long.

BitBoy XRPBitBoy XRP
Source: BitBoy, X

In another X post, he shared his top altcoins pick for the “bull run”, which has gained notable traction from investors. He has updated the list of his top picks, saying “Sometimes the best move is reshuffling your picks.”

BitBoy XRP Top CoinBitBoy XRP Top Coin
Source: BitBoy, X

Also, he keep the Ripple’s native crypto as the first or top coin in the list, and said that the crypto is “set to dominate the world banking”. Also, he cited that if the XRP ETF gets approved and Ripple goes ahead with an IPO plan, it would help the crypto to remain at the top place of this cycle.

Meanwhile, this bullish outlook has sparked optimism in the market, especially amid growing discussions after Bitwise’s ETF filing recently. In addition, the latest US SEC appeal in the XRP lawsuit has kept the investors on edge, who are keeping a close track of the legal battle.

XRP Price Soars Amid Cross-Appeal Speculations

The speculations over a potential cross-appeal by Ripple have sparked debates in the broader crypto market, let alone the XRP community. Besides, Ripple CLO Stuart Alderoty has recently slammed the agency, while saying that the firm might consider a potential cross-appeal in the case, which has fueled market discussions.

Amid this, XRP price soared 1.5% today, and exchanged hands at $0.5327, while its trading volume fell 33% to $990.71 million. The crypto has touched a high of $0.5384 and a low of $0.5172 in the last 24 hours.

Meanwhile, a popular analyst has recently said that the crypto could rally to $5 in the coming days, echoing the bullish sentiment hovering in the market. Also, Ripple’s latest launch of payment solutions in Brazil has also sparked market optimism, which has further raised the appeal of the crypto among traders.

XRP ChartXRP Chart
Source: EGRAG CRYPTO, X

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Rupam Roy

Rupam is a seasoned professional with three years of experience in the financial market, where he has developed a reputation as a meticulous research analyst and insightful journalist. He thrives on exploring the dynamic nuances of the financial landscape. Currently serving as a sub-editor at Coingape, Rupam’s expertise extends beyond conventional boundaries. His role involves breaking stories, analyzing AI-related developments, providing real-time updates on the crypto market, and presenting insightful economic news.
Rupam’s career is characterized by a deep passion for unraveling the complexities of finance and delivering impactful stories that resonate with a diverse audience.

Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.





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Spot Bitcoin ETFs On Course To Surpass Satoshi Nakamoto BTC Holdings

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2 hours ago

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October 5, 2024

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Institutional demand for Bitcoin rises as US Spot Bitcoin ETFs now hold 4.6% of the total supply, valued at $58 billion, almost surpassing the holdings of the biggest BTC owner, Satoshi Nakamoto.

This surge underscores institutional investors’ preference for regulated investment options over direct crypto purchases.

Spot Bitcoin ETFs Grab Almost 5% of Total BTC Supply

According to data from SoSoValue, a prominent financial research forum, Bitcoin ETFs now hold total net assets of $57.73 billion, translating to 4.68% of Bitcoin’s total supply. BlackRock accounts for most of the BTC supply these funds hold, with $22.91 billion in net assets for its Bitcoin ETF. These funds have witnessed impressive inflows since they launched in January earlier this year.

Just like Bloomberg analyst Eric Balchunas predicted in August, these Spot Bitcoin ETFs are on course to surpass Satoshi Nakamoto’s holdings this month if they continue to witness the inflows they have recorded so far. Estimates put Satoshi’s holdings at 1.1 million BTC ($68.2 billion).

Interestingly, Balchunas also predicted that BlackRock could become the largest Bitcoin holder by late next year, with the world’s largest asset manager holdings surpassing Satoshi’s. He added that BlackRock will likely hold this position for the longest time if it surpasses the Bitcoin founder.

The institutional influence in the Bitcoin market has grown and is reflected in the incremental flows of capital into the Spot Bitcoin ETFs over recent weeks. Institutional investors favor Bitcoin for its long-term potential.

This has also been manifested in the increased involvement of wealth management firms such as Goldman Sachs and Morgan Stanley, which have substantially raised their stakes in Bitcoin-related ETFs.

BlackRock’s IBIT Leads the Charge

The debut of Bitcoin ETFs has been far stronger than expected, with impressive inflows and share price performances. Collectively, these ETFs garnered over $4 billion in first-day receipts, establishing a new record for the most money an ETF has taken in during its opening day.

Investors have poured $17.5 billion into Spot Bitcoin ETFs despite market volatility this year. This is highlighted by the iShares Bitcoin Trust (IBIT), which launched the most successful ETF in history, growing to $21.5 billion in assets in just seven months.

On September 20, the SEC approved options trading of the IBIT listed on Nasdaq under the ticker IBIT. According to Nasdaq, the options would be traded much like other ETF options under the same rules, which is another crucial step in institutionalizing crypto investments.

HBO Claims to Unmask Satoshi, Bitcoin Price Surges

Speculations about who the actual founder of Bitcoin, Satoshi Nakamoto, might be are very much in the public eye. Even the FBI commented on the issue. One theory suggested in an incoming HBO documentary is that Len Sassaman, known in cyberpunk culture and adept in cryptography, might be the inventor.

The crypto market jumped following HBO’s claim that it had unmasked Satoshi Nakamoto’s identity. The price jumped over the critical resistance at $62,000.

In the hour-long documentary by Emmy-nominated filmmaker Cullen Hoback, viewers get a glimpse into the mystery of the world’s biggest cryptocurrency. The possible unraveling of Nakamoto’s identity can send shockwaves through various globally powerful financial systems, reflecting different market moves.

BTC after HBO announcementBTC after HBO announcement
Credit: TradingView

Growing speculation and media attention to Satoshi Nakamoto’s identity could continue to catalyze further upside action with Spot Bitcoin ETFs throughout the week. Should his identity be revealed, there may be questions about who has access to his BTC holdings.

If anything, the timing of the HBO documentary was especially instructive, landing as it does in the run-up to the 2024 presidential election in the United States, in which Bitcoin has become a central issue in political debate.

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Teuta

Teuta is a seasoned writer and editor with over 15 years of experience in macroeconomics, technology, and the cryptocurrency and blockchain industries. Starting her career in 2005 as a lifestyle writer for Cosmopolitan in Croatia, she expanded into covering business and economy for several esteemed publications like Forbes and Bloomberg. Influenced by figures like Don Tapscott and Bruce Dickinson, Teuta embraced the blockchain revolution, believing crypto to be one of humanity’s most crucial inventions. Her fintech involvement began in 2014, focusing on crypto, blockchain, NFTs, and Web3. Known for her excellent teamwork and communication skills, Teuta holds a double MA in Political Science and Law, enjoys punk rock, chablis, and has a passion for shoes.

Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.





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X Empire Airdrop Listing Date: What Will Be the XEMP token Price?

Published

9 hours ago

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October 5, 2024

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X Empire has created a new buzz in the crypto market, especially with driving inspiration from Multi-Billionaire Elon Musk. This crypto project gained immense popularity after combining the gaming industry with the DeFi one, offering the perfect opportunity to earn heavy crypto awards. Here, the user gets to experience daily combos, riddles & rebuses, similar to another popular Tap-to-earn game called Hamster Kombat. Because of this, the hype is even higher with the X Empire airdrop following the XEMP token launch.

There is also a need for this X Empire Airdrop, as the rest of the Telegram gaming tokens mainly failed moments after their launch. It includes the Hamster Kombat, who is struggling on the charts, as the HMSTR price is below $0.1. This is why, there is also a fear of the same happening to the XEMP token price.

X Empire Airdrop Launch Date & Eligibility

It has been long since the project’s team announced the plans for one of the best crypto Airdrops, increasing hype around it. However, they have not officially announced the launch date, disappointing many. Regardless, many industry experts believe that the airdrop will go live around October 15, 2024, and the Token Generation event around October 30th.

This Elon Musk-inspired project has topped the Tap-to-earn games in popularity, gaining 20 Million active users in the blink of an eye. As a result, the team has introduced the X Empire Airdrop to reward its early users who have entered the mining phases and upgraded their game components.

Moreover, there is a strict eligibility criterion that a user will have to fulfill to receive the airdrop tokens. The user should have been part of the official Telegram group to join the rest of the X Empire community. It is because the group will release all the required tasks and activity announcements in the group, making it a mandatory step to join it. Next, the user should have completed their Know Your Customer (KYC) to maintain transparency.

More importantly, the interested participants should hold significant X tokens to access the X Empire airdrop. Even maintaining an engagement within the ecosystem is a must. In this scenario, the user can participate in staking, trading, completing tasks, and many other things to increase their presence in the ecosystem. The higher the activity, the higher the chances of users receiving the XEMP airdrop tokens.

Another important X Empire news is that the XEMP token will be listed on multiple popular crypto exchanges by the end of the month to show its domination in the crypto world as well.

What Will Be the XEMP Token Price?

The Telegram game team has set a total supply of 690 Billion for the launch. Out of this, 75% is reserved for the community, which might get utilized in the X Empire Airdrop and other rewarding activities. Other than the in-app games, this is what is attracting new users every single day.

#XEmpire price post-TGE.👇

Tokenomics Overview:

Total supply: 690 billion X tokens
75% allocated to the community
Major focus on player engagement & distribution

Low Estimate: $0.002
If demand is modest and engagement remains average, $XEMP could settle around $0.002.… pic.twitter.com/nEfSF2bQcz

— CRYPTO GEEK (@Crypto_geek___) October 4, 2024

Additionally, many crypto analysts have analyzed its hype and compared it to other similar tokens launched. With that criteria, the XEMP token price might come around$0.47 and $0.55 per token. After considering the token’s circulating supply at 1 billion tokens, the utmost demand of the crypto game, the analysts have decided on this value. However, if the data varied, the XEMP token might price turn differently, as the low estimate value can come to around $0.002 per X Token.

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Pooja Khardia

With a deep-seated passion for reading and five years of experience in content writing, Pooja is now focused on crafting trending content about cryptocurrency market.

As a dedicated crypto journalist, Pooja is constantly seeking out trending topics and informative statistics to create compelling pieces for crypto enthusiasts. Staying abreast of the latest trends and advancements in the field is an integral part of her daily routine, fueling a commitment to delivering timely and insightful coverage

Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.





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Bitcoin Core 28.0 Launches With Major Improvements

Published

12 hours ago

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October 5, 2024

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This week, the Bitcoin development team announced the launch of the Bitcoin Core 28.0 version bringing along major bug fixes and performance improvements to the BTC mainnet. As we know, the Bitcoin Core is a critical program within the BTC ecosystem that helps in maintaining decentralization.

Bitcoin Core 28.0 Version Brings Higher Security

The BTC development team has published the release notes outlining several updates designed to boost the program’s functionality and security. Along with the bug fixes, the recent update focuses on introducing more security and privacy features for the users.

Last month, the BTC developers issued a warning about a high-risk vulnerability and a software bug that was affecting one in every six Bitcoin nodes. The vulnerability allowed malicious actors to launch a DoS attack by exhausting nodes with low-difficulty header chains. This would need the nodes to download long chains exceeding their bandwidth thereby ultimately resulting into its potential crash.

With the latest version update, the Bitcoin Core developers have patched this vulnerability along with additional security enhancements. Back in August, BTC Core integrated new security advisories in order to keep the protocol safe amid the growing adoption.

In addition to this update, the BTC Core 28.0 version supports reproducible builds that allow experienced users to compile identical binaries along with those distributed on the BTC Core official website. This feature helps to boost trust and transparency within the BTC community.

The good thing is that Bitcoin Core has relatively high system requirements compared to other Bitcoin software. By default, it allows up to 125 peer connections, with 11 outbound connections. This connectivity ensures that users stay integrated within the Bitcoin network, contributing to its decentralized structure.

Where’s BTC going Next? $50K or $70K?

Since the beginning of October, the Bitcoin price has come under strong selling pressure moving all the way to $60,000 before recovering back past $61,000 levels. However, amid the current cycle, it seems that BTC whales have shifted to the least profit-taking so far. This shows confidence among long-term holders who are eyeing a potential upside of $70,000.

On the other hand, some market analysts are predicting that the BTC price first needs to take a dip to $57,000 before resuming the uptrend. However, if the bulls manage to reclaim the crucial support zone of $63-$64k, they can start a further journey to $70K.

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Bhushan Akolkar

Bhushan is a FinTech enthusiast with a keen understanding of financial markets. His interest in economics and finance has led him to focus on emerging Blockchain technology and cryptocurrency markets. He is committed to continuous learning and stays motivated by sharing the knowledge he acquires. In his free time, Bhushan enjoys reading thriller fiction novels and occasionally explores his culinary skills.

Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.





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