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Cardano Founder Charles Hoskinson Discusses Midnight and XRP With Ripple CTO

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3 hours ago

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Charles Hoskinson, the founder of Cardano, recently engaged in a technical conversation with Ripple CTO David Schwartz, sparking curiosity in the blockchain community. The discussion centered around Midnight, a privacy-focused blockchain project, and XRP, Ripple’s digital asset. Both leaders shared insights and perspectives in what was described as an engaging and collaborative interaction.

Cardano Founder Engages Ripple CTO on Midnight and XRP

According to a recent post on X (formerly Twitter), Cardano founder Hoskinson and Ripple CTO David Schwartz discussed Midnight’s advanced privacy technology and XRP’s growing role in blockchain innovation. Midnight is designed to enhance secure data handling while adhering to regulatory compliance. Hoskinson expressed his enthusiasm for Midnight’s potential to drive privacy-centric decentralized applications (dApps) and further blockchain development.

Similarly, Ripple CTO David Schwartz described Midnight as “extremely interesting” and noted its innovative approach to privacy and scalability. The discussion also touched on XRP’s use cases, including its growing adoption in cross-border payments. Schwartz emphasized the importance of building scalable and efficient blockchain solutions to solve real-world problems.

Reacting to the engagement, Cardano founder noted, 

“It was great talking to David Schwartz about Midnight and XRP. Wonderful technical conversation.”

Additionally, recently Charles Hoskinson confirmed his plans to collaborate with the U.S. government under Donald Trump’s administration to shape crypto legislation. Hoskinson aims to promote bipartisan support for blockchain-friendly regulations, emphasizing the need for clear guidelines.

This collaboration with Cardano founder will create a unified blockchain industry capable of addressing regulatory challenges while advancing technological innovation.

These developments come amid recent discussions between Hoskinson and Ripple CEO Brad Garlinghouse, further fueling speculation about a possible Cardano and Ripple collaboration. Hoskinson’s remarks and his praise for Ripple CEO suggest a mutual commitment to tackling shared challenges in the blockchain space

Technical Insights Into Midnight and XRP

Midnight, a privacy-focused sidechain of the Cardano blockchain, leverages zero-knowledge cryptography to enable secure and private transactions. The Midnight testnet, which went live last month, allows developers to explore dApps emphasizing data protection and privacy. The Compact programming language, integrated with TypeScript, enables developers to build decentralized applications seamlessly.

On the XRP front, Ripple is gaining momentum with its upcoming ETF application filed by Bitwise Asset Management. Pro-XRP lawyer Jeremy Hogan projected mid-2025 as a likely timeline for the ETF decision recently. XRP has also experienced its first major price breakout in two years, hitting a three-year high, signaling renewed investor confidence.

In addition, XRP has seen a surge in trading activity, marking its first price breakout in two years. XRP price reached a three-year high, driven by optimism surrounding Ripple’s legal victories and the potential approval of the XRP ETF. Market analysts attribute this rally to growing institutional interest and a favorable shift in regulatory sentiment. 

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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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Pump Fun Sells 105K SOL As Solana Price Inches Close To ATH

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7 hours ago

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November 18, 2024

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Pioneering memecoin launchpad Pump Fun is in the spotlight after it made another cashout move, placing pressure on Solana’s price. According to an update from the analytics platform Lookonchain, the Pump Fun fee account has sold off another 105,000 SOL within the past 24 hours.

Pump Fun and the Selloff Agenda

Lookonchain detailed that the offloaded 105,000 SOL is valued at $25.14 million. The platform transferred this lumpsum to the Kraken exchange in one transaction. Per the chart shared by Lookonchain, the Pump Fun Fee account has initiated a series of related deposits to Kraken over the past month.

While it is hard to explain, this offload appears as a profit taking move as the price of Solana is close to hitting its All-Time High (ATH). The Solana price set the pace to retest ATH the SOL dominance soar to a new high.

There is an observable trend in Pump Fun’s selloff action which comes with a surge in the price of Solana. Earlier this month when the coin jumped above the $200 resistance level, the launchpad sold 43,000 SOL.

At the moment, Pump Fun has generated a total fee revenue of 1,307,966 SOL valued at approximately $315 million. Since it started selling its accumulated SOL, the platform has offloaded 898,243 SOL valued at $157 million per Lookonchain data.

The platform’s selloff trend has stirred conversation in the crypto ecosystem. Though some community members believe the protocol deserves the “cashout,” a good number say the selloff might impact Solana price negatively.

Solana Price And ATH Expectations 

SOL remains one of the biggest beneficiaries in this ongoing bull market cycle. Recently, SOL outpaced Binance Coin (BNB), paving way for a rally toward $300 high. However, many believe the impact of the Pump Fun selloff might derail its impressive growth in the past few weeks.

As a blockchain with retail utility focus, SOL attraction remains high. Beyond this retail adoption backing, previous SOL price analysis hinted at the likelihood of the coin soaring by 900% to $1000.

With Bitcoin price still trading above $90,000 level, SOL might also leverage its correlation to sustain its ongoing bull rally.

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Godfrey Benjamin

Benjamin Godfrey is a blockchain enthusiast and journalists who relish writing about the real life applications of blockchain technology and innovations to drive general acceptance and worldwide integration of the emerging technology. His desires to educate people about cryptocurrencies inspires his contributions to renowned blockchain based media and sites. Benjamin Godfrey is a lover of sports and agriculture.

Follow him on X, Linkedin

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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Fundstrat’s Tom Lee Highlights Why Bitcoin Price Rally May Continue

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11 hours ago

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November 18, 2024

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Fundstrat Head of Research Tom Lee has emphasized that Bitcoin’s recent surge could mark the beginning of a sustained rally. With Bitcoin’s price climbing 34% in November and currently trading near $91,395, Tom Lee outlined several factors suggesting the cryptocurrency’s upward momentum may persist.

Tom Lee Highlights Why Bitcoin Price Rally May Continue

Speaking in an interview with CNBC, Fundstrat Head of Research Tom Lee noted that Bitcoin’s recent price gains are supported by strong market demand and improving technical indicators. 

He pointed out that Bitcoin price has entered a consolidation phase near $90,000, which is supported by a series of bullish factors, including increased investor interest and the cryptocurrency’s historical performance during similar market conditions.

According to Fundstrat’s Tom Lee, the current price rally aligns with broader trends in risk assets, with Bitcoin showing resilience amid market corrections. He stated, “Most major indices, including the NASDAQ and S&P 500, have pulled back to key support levels, which often provides a foundation for renewed growth. Bitcoin’s technical setup appears similar, suggesting the possibility of further gains.”

Fundstrat’s Tom Lee also connected Bitcoin’s performance to broader market trends, particularly the “Trump trade.” He remarked that policies like ‘D.O.G.E’ emphasizing deregulation, lower taxes, and reduced government spending could benefit risk assets, including Bitcoin price.

He added that sectors like small-cap stocks and financials are also seeing renewed interest as investors anticipate policy clarity following recent political developments. This optimism is bolstered by expectations that the Federal Reserve’s monetary tightening cycle is nearing its end, which could drive demand for both traditional and digital assets.

Bitcoin as a Strategic Asset Amid Economic Concerns

Fundstrat’s Tom Lee also highlighted Bitcoin’s potential role as a strategic asset in addressing economic challenges. While he did not directly revisit his earlier suggestion that Bitcoin could serve as a “treasury reserve asset,” Lee emphasized its appeal as a hedge against macroeconomic uncertainty. 

He explained that ongoing discussions about U.S. monetary policy, including the Federal Reserve’s potential slowdown in interest rate hikes, are contributing to a favorable environment for Bitcoin.

“When uncertainty clears around monetary policy, demand for Bitcoin and other risk assets could increase further,” he noted.

During the interview, Tom Lee addressed the ongoing discussions surrounding the U.S. Treasury Secretary position under the Biden administration. Among the names under consideration hinted at by Elon Musk is Cantor Fitzgerald CEO Howard Lutnick, an advocated for Bitcoin’s recognition as a commodity akin to gold and oil.

Institutional and Retail Momentum Behind Bitcoin’s Growth

Institutional and retail participation has played a key role in Bitcoin price recent surge. Data from CryptoQuant indicates a spike in Coinbase’s premium index earlier in the rally, signaling heightened interest from U.S. retail investors. However, the index has since cooled, suggesting that retail activity has slowed in the short term.

Technical analyst Coosh Alemzadeh has observed patterns in Bitcoin’s chart that indicate the potential for further growth. According to Alemzadeh, Bitcoin is currently in the fifth wave of an Elliott Wave cycle, which typically signals the steepest part of a price rally. His projection suggests Bitcoin’s price could reach between $130,000 and $145,000 by late 2024.

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Despite the optimistic outlook, experts caution that Bitcoin’s volatility remains high. The success rate for bullish patterns like the one currently forming is only around 54%, highlighting the need for measured optimism among traders.

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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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Semler Scientific Boosts Bitcoin Bag With New BTC Purchase

Published

15 hours ago

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November 18, 2024

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Healthcare startup Semler Scientific has doubled down on its Bitcoin (BTC) acquisition agenda by purchasing a new batch of the coin. According to an announcement, the firm has purchased 215 Bitcoin units valued at $17.7 million.

Semler Scientific Bitcoin Bet and Stock Boom

As disclosed by the firm, it acquired this new stash between November 6 and November 15 and paid an average price of $82,502 per Bitcoin. This purchase price also includes fees and expenses.

Semler Scientific launched its Bitcoin acquisition campaign in May. At the time, the company bought a $40 million worth of Bitcoin as it looked to adopt MicroStrategy’s Bitcoin playbook. Since then, the health tech firm has made other massive BTC purchases to boost its bag. Earlier this month, it increased its BTC holdings to 1,000 units as reported by Coingape.

Following the latest acquisition, Semler said its Bitcoin yield has now jumped 18.9% from October 1 to November 15. At the moment, the firm’s total Bitcoin holdings is now pegged at 1,273 BTC with a total yield of 37.3% since it started acquiring the coin.

Semler Scientific chose to buy this latest Bitcoin at a time the price of the coin is trading at its highest level. BTC price recorded multiple All-Time Highs (ATHs) last week as all holders became profitable.

The Semler Scientific Bitcoin strategy is notably paying off as the company’s shares has also jumped remarkably. Following the latest update, the firm’s shares on the NASDAQ exchange jumped by 10.36% to $49.09. With investors embracing SMLR due to its exposure to BTC.

MicroStrategy and Metaplanet In the Same League

Besides Semler Scientific, MicroStrategy and Metaplanet are also advancing their BTC acquisition strategies.

Per an earlier Coingape report, MicroStrategy bought 51,780 BTC for $4.6 billion. This pushed the firm’s total bag to 3331,200 BTC, which it acquired for $16.5 billion at an average price of $49,875 per bitcoin.

Metaplanet also revealed recently that it plans to issue bonds to buy additional Bitcoin. Per its plan, it hopes to raise as much as $11.3 million for this purchase.

As market analysts noted, the massive institutional embrace of the coin is helping to fuel the surge in the price of BTC. At the time of writing, the coin has seen its price jump by 1.2% in 24 hours to $90,411.04. With heightened volatility, the coin has traded from a low of $88,741.66 to a high of $92,194.35.

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Godfrey Benjamin

Benjamin Godfrey is a blockchain enthusiast and journalists who relish writing about the real life applications of blockchain technology and innovations to drive general acceptance and worldwide integration of the emerging technology. His desires to educate people about cryptocurrencies inspires his contributions to renowned blockchain based media and sites. Benjamin Godfrey is a lover of sports and agriculture.

Follow him on X, Linkedin

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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