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BTC Holds $68K, Altcoins Gain In Sync, SAND Up 12%

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The crypto prices today sparked investor curiosity globally, with the top coins preventing further downside momentum. Bitcoin (BTC) price maintained a hold above the $68K level, whereas Ethereum (ETH), Solana (SOL), and XRP prices traded in the green. Simultaneously, the global crypto market cap jumped 0.8% over the past day to $2.35 trillion. However, the total market volume slipped 3.5% to $73.06 billion today. Besides, The Sandbox (SAND) emerged as the day’s top gainer, leading the broader market gains.

Here’s a brief report on some of the top cryptocurrencies by market cap and their price movements today, October 19.

Crypto Prices Today: BTC, ETH, SOL, & XRP On The Upswing

While BTC price rested at the $68K level today, ETH maintained trading at the $2,600 level. Simultaneously, SOL and XRP witnessed considerable gains over the past day, and SAND price soared roughly 12%. Let’s take a closer look at the major coins’ prices today.

Bitcoin Price Today

BTC price saw gains worth 1% at press time and is trading at $68,480. The coin’s 24-hour low and high were recorded as $67,521.21 and $68,969.75, respectively. Meanwhile, Bitcoin’s market cap rested at $1.35 trillion today. However, the flagship crypto’s market dominance declined by 0.14% to 57.58%. Besides, it’s noteworthy that the coin rises alongside $273.71 million inflows in Bitcoin ETFs as of October 18, per Sosovalue data.

Ethereum Price Today

ETH price chart indicated a rise of over 1% in the past 24 hours and is currently sitting at $2,648. The coin’s intraday low and high were $2,608.31 and $2,674.37, respectively. Ethereum’s market cap rested at $318.74 billion today. Notably, the coin rises in tandem with $1.91 million inflows in Ethereum ETFs as of October 18. Meanwhile, Whale Alert data for the past day indicated considerable ETH dumps to Coinbase, adding a layer of intrigue among market participants.

Solana Price Today

Simultaneously, the crypto SOL witnessed a nearly 1.5% increase in value over the past day and is now trading at $154. The coin’s intraday low and high were recorded as $151.84 and $156.54, respectively. Solana’s market cap was registered to be $72.69 billion today.

XRP Price Today

Meanwhile, XRP price illustrated a nearly 1% rise in value and is currently trading at $0.5479. The coin’s intraday low and high were recorded as $0.5424 and $0.5524, respectively. XRP’s market cap was evaluated as $31.06 billion today.

Meme Coins Performance Today

In the interim, Dogecoin (DOGE) witnessed a remarkable 9% increase over the past day and is trading at $0.1448. Similarly, even Shiba Inu (SHIB) price soared nearly 3% today to reach $0.00001924. Also, Pepe Coin (PEPE), dogwifhat (WIF), and Bonk prices gained 0.5%-5% intraday.

Top Crypto Gainers Prices Today

The Sandbox

SAND price surged nearly 12% over the past day and is currently trading at $0.2933. The coin’s intraday low and high were recorded as $0.2586 and $0.2964, respectively.

Axie Infinity

AXS price followed, gaining roughly 12% over the past day to $5.24. The coin’s intraday low and high were recorded as $4.61 and $5.30, respectively.

Ondo

ONDO price soared nearly 11% in the past 24 hours and is sitting at $0.8026. The coin’s intraday low and high were $0.723 and $0.8173, respectively.

Top Crypto Losers Prices Today

Celestia

TIA price slipped nearly 3% in the past 24 hours and is trading at $6.07. The coin’s intraday low and high were $5.89 and $6.27, respectively.

Cat in a dogs world

MEW price followed, waning 3% over the past day to $0.00912. The coin’s intraday low and high were $0.008959 and $0.009731, respectively.

Bittensor

TAO price dropped 2% over the past day and is now trading at $582.69. The coin’s 24-hour low and high were $565.98 and $598.06, respectively.

Meanwhile, the hourly time frame charts sparked further speculations over the crypto prices today. BTC price slipped 0.05%, whereas ETH waned 0.29% in the hourly duration, raising market concerns.

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Coingape Staff

CoinGape comprises an experienced team of native content writers and editors working round the clock to cover news globally and present news as a fact rather than an opinion. CoinGape writers and reporters contributed to this article.

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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Lawyer Calls Out Mistakes In Brad Garlinghouse & Chris Larsen’s Deal

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7 hours ago

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October 19, 2024

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Fred Rispoli, a lawyer in the Ripple vs SEC case, has criticized Brad Garlinghouse and Chris Larsen for agreeing to drop only some of the charges that the U.S. Securities and Exchange Commission (SEC) has leveled against them. According to Rispoli, the executives should have sought for the dismissal of all the charges instead of coming to a partial settlement.

Fred Rispoli Criticizes Brad Garlinghouse and Chris Larsen’s Deal

Through a series of posts on the X platform, Fred Rispoli, a lawyer, pointed out what he called blunders in the legal approach that Garlinghouse, Ripple’s CEO, and Larsen, the company’s executive chairman, took. 

He personally expressed concern with their decision to drop some of the claims while not seeking a full trial on the “aiding and abetting” charges raised by the US SEC.

In the view of Rispoli, Ripple’s leaders were in the best position to defend themselves against the SEC’s allegations, especially the “Institutional Sales” claim, which would only hold if there was evidence of recklessness. He stated that the agency lacked compelling evidence to meet that burden, and a jury would likely have been frustrated by the SEC’s case, possibly resulting in a unanimous verdict in favor of Garlinghouse and Larsen.

Missed Opportunities for Key Testimonies in Ripple vs SEC Case

Rispoli also added that had Ripple CEO Brad Garlinghouse and Larsen proceeded to trial, there was a possibility that potential witnesses would have come into the picture. He said that the SEC’s former chairman Jay Clayton and its former co-director of the corporation finance division Bill Hinman, alongside other industry players, might have been called to give evidence. 

These testimonies in the Ripple Vs SEC case could have given a clue on internal SEC determinations regarding the classification of cryptocurrencies, specifically XRP.

Additionally, a trial would have allowed presenting some documents that were previously shielded from discovery. Rispoli noted that this could have been advantageous for Ripple and other digital currency companies in the future as the data disclosed could be applied in legal concerns with the US SEC.

Ripple’s Cross-Appeal and the SEC’s Latest Move

In response to the SEC’s ongoing attempts to appeal certain aspects of a 2023 judgment given by the U.S. District Judge Analisa Torres, Ripple Labs filed a cross-appeal. In her decision, Torres stated that Ripple’s sales of XRP to retail investors on digital platforms were not securities sales. 

However, the regulator is now appealing other parts of the decision in the Ripple Vs SEC case, including the firm’s institutional sales, and the distribution of XRP for non-cash considerations.

Stuart Alderoty, Ripple’s legal chief, also sounded optimistic about the case stating that the agency’s appeal would not go well. “I felt good about our case in the Southern District of New York. I feel even better about our case in the Second Circuit,” Alderoty said in a recent interview.

US SEC’s Filing Deadline and Response

Some controversy had arisen regarding whether the SEC filed its brief within the time allowed for filing an appeal. Some of the X users argued that the agency failed to file its Form C within the 14 days’ period for filing the appeal in the Ripple Vs SEC case. The form itself had been submitted on October 16 while the Second Circuit’s docket reflected the filing as having been made on October 17 thus raising questions as to the validity of the filing.

When asked about the deadline of the filing, the US SEC spokesperson said, “It was filed on time.” Meanwhile, despite all this, the US SEC’s appeal doesn’t challenge the part of the decision that states that XRP sales to retail investors through exchanges are not securities. That decision is still valid, still leaving the court’s finding that XRP is not a security when sold to retail investors intact.

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Kelvin Munene Murithi

Kelvin is a distinguished writer with expertise in crypto and finance, holding a Bachelor’s degree in Actuarial Science. Known for his incisive analysis and insightful content, he possesses a strong command of English and excels in conducting thorough research and delivering timely cryptocurrency market updates.

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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Fed Governor Christopher Waller Reveals DeFi’s Role In Global Finance

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15 hours ago

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October 18, 2024

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On Friday at the Vienna Macroeconomics Workshop, Fed Governor Christopher Waller opined that DeFi could complement and substitute centralized finance.

He observed that the technologies responsible for this area may enhance efficiency within traditional financial operations by allowing individuals to trade assets directly without intermediaries.

Fed’s Christopher Waller: DeFi to Transform Trading, Enhance TradFi Efficiency

Federal Reserve Governor Christopher Waller explained that DeFi might complement traditional finance and thereby pave the way for some important changes in the trading of financial markets.

He also said that innovations linked to DeFi include smart contracts and distributed ledger technology, which could facilitate trades more efficiently by automating sophisticated transactions and reducing settlement risks.

According to him, DeFi had the potential to enhance the efficiency of traditional financial systems by embedding these technological innovations. Waller explained the usefulness of smart contracts and said they would simplify transactions by bringing many components together in one smooth process.

This can effectively reduce settlement and counterparty risks since a buyer would only pay if the seller has delivered what they are selling. Although Waller said it is still early days for their adoption, he was hopeful that this will go well beyond what they are capable of today for various financial activities.

Stablecoins are becoming a big deal. Just recently, Ripple launched its RLUSD, pegged to the US dollar in a 1:1 ratio. The firm launched it to use it in cross-border payment.

Christopher Waller furthermore explained how DLT, tokenization, and smart contracts could make trading more effective in the context of DeFi and centralized finance, setting them up as complementary technologies.

He also reflected on the role of financial intermediaries, which have, throughout history, eased trade by reducing the search time and costs for trading counterparts. He qualified, though, that such intermediaries. At the same time, they may ease contacts between buyers and sellers and inject transaction costs and governance problems, due to which incentives across parties may need to be more aligned.

Efficiency Gains with Blockchain and Smart Contracts

Historically, technological innovations have been the key driver in shaping the financial world, and DeFi represents an essential new chapter in that journey-one fixated on perfecting trade.

Christopher Waller emphasized the critical role stablecoins play in DeFi, likening them to “effectively digital currency” that reduces reliance on more traditional payment intermediaries and, in the process, helps bring down cost pressures globally.

Finally, he said:

“Considering all that, tremendous gains in efficiency probably will be achieved far into the future from the core DeFi foundational technologies: blockchain and smart contracts.”

Fed Governor Christopher Waller recently spoke to the benefits of DeFi technologies but pointed out a variety of concerns about the security, trust, and regulatory burdens that may ensue. He especially focused on stablecoin risks that one could utilize for illicit purposes. He also referred to past examples of synthetic dollars that experienced liquidity squeezes.

Waller called for the application of bespoke regulations that would ensure that one can safely reap benefits coming from DeFi.

He said:

“When it comes to our financial plumbing, which affects every person or business in one way or another, I think a balanced view of expeditious disruption and long-term sustainability is merited.”

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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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What is World Chain? Human-First New Blockchain Goes Live

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19 hours ago

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October 18, 2024

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World Chain, the latest blockchain development from the World Foundation, recently went live. The new development promises a human-first approach to blockchain, focusing on providing real-world applications and financial access to millions of people globally. With over 15 million users already migrated or in the process of transitioning, World Chain sets out to prioritize verified humans over bots, delivering accessible blockspace and financial solutions through innovative technology.

World Chain: 15 Million Users Now Migrated to Human-First Blockchain Network

As of October 17, 2024, World Chain has successfully onboarded 15 million users, making it one of the largest blockchain networks based on verified human users. These users, who previously held World IDs and utilized the World App, are either fully migrated or in the process of transitioning to World Chain. This blockchain is unique in its focus on humans, leveraging World ID, an identity verification system to prioritize human users over bots.

Moreover, the World Chain blockchain includes a wide range of services, supported by major blockchain projects like Optimism for interoperability, Alchemy for on-chain development, Uniswap for asset swaps, and Etherscan for transaction exploration. The goal is to build a more inclusive network. 

After rebranding from Worldcoin to “World,” verified users now have access to prioritized blockspace. Additionally, innovative financial tools like stablecoins are available to support individuals in different regions.

Innovative Features to Enhance Human-Centric Blockchain

World Chain introduces several features aimed at ensuring that human users benefit most from the blockchain. Verified users, identified via World ID, are granted access to prioritized blockspace and even a gas allowance to cover transaction costs. This initiative reduces the friction for casual users while making the network more accessible.

On Day 1, World Chain integrated services from top blockchain providers, ensuring that developers can build and deploy applications that directly interact with real humans. Projects like Fireblocks, Dune Analytics, and Safe are also on board, providing enhanced security, real-time analytics, and multisignature wallet support.

With World Chain prioritizing human activity over bots, the network is designed to scale effectively. The blockchain will initially target a throughput of 5 Mgas/s, which will be scaled up as the demand increases. This will ensure the network remains efficient and low-cost, even as millions of users join the system.

Financial Access and Inclusion through World Chain

A core focus of World Chain is improving financial access for its users, particularly in countries where the use of stablecoins and cryptocurrencies is growing rapidly. Many of the 15 million users of World Chain come from regions where digital currencies offer real-world utility. 

By integrating with global on-ramps and off-ramps, the network will make financial transactions more accessible for everyone.

World Chain also encourages developers to build applications for human-centric use cases, including governance, universal basic income, and bot-resistant social media platforms. Additionally, the World Foundation is offering grants to projects that help expand the network’s impact. These features reflect the vision of creating a blockchain that directly benefits humans and supports real-world needs.

Impact on WLD Price and Market Activity

Following the launch of World Chain, the Worldcoin (WLD) token saw a price increase of 17% in the last 7 days. However, despite this upward movement, the token has experienced a 1.31% decline over the past 24 hours, trading at $2.2. Since reaching a peak of $11.9 in March, WLD has seen an 81% drop in value.

According to recent analysis, Worldcoin could surge back to $10 if it could vercome the $3 resistance and cross the 200-day exponential moving average. Catalysts such as the growth of World Chain and the upcoming “A New World” event in San Francisco, which promises significant updates, could further boost WLD price 

The rollout of World Chain and the ongoing legal challenges faced by the World Foundation in various countries may continue to influence the token’s performance. However, the expansion of World Chain could stabilize WLD price if user growth and financial adoption continue as expected.

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Ronny Mugendi

Ronny Mugendi is a seasoned crypto journalist with four years of professional experience, having contributed significantly to various media outlets on cryptocurrency trends and technologies. With over 4000 published articles across various media outlets, he aims to inform, educate and introduce more people to the Blockchain and DeFi world. Outside of his journalism career, Ronny enjoys the thrill of bike riding, exploring new trails and landscapes.

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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