Crypto News

Cardano Founder And ETH Dev Get Into A Tussle of Word On Twitter

Twitter threads from last week reveal a series of heated arguments between Cardano founder and Ethereum’s co-founder, and Vitalik Buterin. Amid several backlashes caused by lapses in the Ethereum Upgrade, the co-founders argue over the execution of the POS consensus mechanism. A lot has transpired within the past days after the Ethereum upgrade. Also, there are more like the Shanghai upgrade to come. On Saturday, 24 September, Evan Van Ness, a Web3 investor, expressed his opinion regarding the Ethereum merge. Van asserted that the last ten days after the merge are evidence the merge should have happened earlier. Related Reading: ETH Struggles To Break Past $1,300 Resistance – Back To $1K? Buterin seeing Van Ness’s tweet, agreed with him, saying they should have implemented an NXT-like chain based on POS. Charles Hoskinson Claims Ethereum POS Is a Bad Design Hoskinson joined the Buterin-Van Ness conversation, saying there should be a Snow White protocol to ensure faster POS migration. Hoskinson’s opinion didn’t go well with the others, which resulted in an argument between him, Van Ness, and other Ethereum developers. Snow White is a protocol that provides end-to-end proof of security for POS systems. Hoskinson has been an advocate of Snow White for many years. Hoskinson claimed his idea for the Ethereum network’s technical upgrade in 2014 was better than the present upgrade. Van Ness recalled that Hoskinson got removed from Ethereum due to his bad behavior and lack of notable technical contributions. Hoskinson accused Ethereum developers of ignoring Ouroboros in the last five years. Ouroboros is a secure proof-of-stake blockchain and the first peer-review researched based protocol. He also said the present version of the proof-of-stake upgrade is not well-designed. In their argument, Hudson Jameson, Ethereum’s core developer, responded to Hoskinson’s Ouroboros implementation claims. Jameson told Hoskinson that Ethereum developers hated Cardano because of his actions and behaviors. I guess Charles forgot about his Reddit history and how much he shit on Ethereum as he was building Cardano. Additionally, Vitalik did review Ouroboros a while ago. Ethereum devs aren't wanting to look at Cardano because of your attitude and actions as the face of Cardano. https://t.co/QB3QYRKkm5 pic.twitter.com/daX56FfwGv — Hudson Jameson (@hudsonjameson) September 26, 2022 The Ethereum developer also spoke of Hoskinson’s ill-treatment of Ethereum while he created Cardano. He also said Vatalik had reviewed Ouroboros. Charles Hoskinson On Success Of Cardano Hoskinson boasted that Cardano is not dependent on cryptocurrency to succeed and that they’ve grown to billions without mass adoption. Although similar arguments are not new between Hoskinson and the Ethereum developers, it shows how detached from each other the two blockchain’s have become. Both Ethereum network and Cardano are in the middle of intensive upgrades, but Hoskinson is known for his bullish opinions on his previous projects. Related Reading: Algorand: ALGO Price All Go With Nearly 30% Rally In Last 7 Days Cardano Vasil Upgrade and hard fork took place on Thursday, 23 September. Input Output Hong Kong (IOHK), the blockchain company behind Cardano, announced the successful upgrade via Twitter. IOHK stated the hard fork upgraded the network to block transmission without full validation to enable faster block creations. The Plutus smart contracts upgrade was for increased efficiency and a low-cost running of decentralized applications. Featured image from Pixabay, Chart: TradingView.com

Crypto News

Quant (QNT) Adds 10% In 24 Hours While Macro Uncertainty Pulls Others

Interoperability enabling network Quant has gained 10% in the last 24 hours amidst the general crypto bear market. The token is inexorably climbing up the price charts while other tokens struggle to keep their heads above water. The crypto is steadily gaining, testing new highs after its yearly low in June when its price dipped below $50. The Quant blockchain was a project geared toward solving the issue of interaction among multiple blockchains. Since its inception in 2018, the token began an upward climb from below $1, culminating in an all-time high just below $400. This unprecedented event in the history of Quant took place in September 2021. Quant soared 200% from $187 to $490 on the month, a spike that analysts attribute to three factors.  Related Reading: Sandbox Struggles In A Bear Market, How Low Can Price Go? Quant’s All-Time High Catalysts The first catalyst outline was the launch of Overledger 2.0.5, the network’s DLT connection for businesses to all networks and DLT. Secondly, Quant offered developers incentives via the “Quant developers Program,” a means to lure devs into its ecosystem. Devs build useful protocols and apps, which in turn, attract more users, thereby ensuring the growth of Quant.  Finally, Quant’s price boosted when it got listed on major exchange platforms like Coinbase and Binance. This move alone caused the protocol’s trading volume to skyrocket from $9 million to a whopping $740 million, according to coinmarketcap. And the rest, they say, is history. Although the token has not tested such highs since then, it continued to do well for itself till the general market became turbulent. Macroeconomics Turned Crypto Assets Bearish By June this year, when the crypto market dropped into a downward spiral, the Quant token dipped to a low of $49. A combination of macro factors dragged down most cryptos, including Bitcoin, from their lofty heights. For one, the Russo-Ukrainian war began causing global unrest, which always targets risk-prone assets, e.g., crypto. Then followed inflation and Fed’s hawkish attitude towards digital assets in fixing the problem. Ethereum’s merge with its initial hype and subsequent letdown came into the mix, further muddying up the waters. As a result, crypto assets globally have been testing unheard-of lows.  At the time of writing, Bitcoin continues to fluctuate around the $20,000 resistance level. This is notably a far cry from its legendary $65,000 high, which occurred in 2021. Similarly, ETH and SOL are not left out of this bearish market turn, trading at $1300 and $33, respectively. Ethereum is 70% down from its all-time high, while Solana is 87% below its own. Related Reading: Dogecoin (DOGE) Is On Top Of Whales’ Menu – Here’s Why Yet Quant is slowly but surely wending its way up the chart, testing new highs daily. At the time of writing, the token is exchanging hands around $116 after briefly testing $120 earlier in the day. Against the past week’s prices, it is a 7.90% gain, 10% over the last 24 hours. Featured image from Pixabay and chart from TradingView.com

Crypto News

Ripple Outperforming Almost The Whole Market, What’s Pumping XRP Price? 

The currency of the blockchain-powered online payment platform, XRP, has gained almost 60% in the past week. After briefly dipping to $0.34 five days ago, the token climbed back and traded around $0.52 this morning. Crypto influencer Ben Armstrong claims to know the reason behind this continuous climb amid the current general crypto bear market. The multiple-crypto holder shared his two cents about the state of events with his 800k plus followers on Twitter yesterday. Related Reading: Maker DAO Shows Bullish Sentiment After A While, Eyes $800? Influencer Believes Impending Close To Ripple-SEC Case Is Responsible According to Armstrong, multiple factors are causing Ripple’s insane price surge. However, he can confidently trace one primary reason to the ongoing SEC court battle with the sixth strongest crypto. The influencer tweeted that SEC has given up on its 2-year struggle of trying to prove XRP is a security. As of this week, the Ripple community “can be pretty confident the worst-case scenario is a fine,” the tweet reads. The last weekend saw both parties in the ongoing case filing for summary judgment. In other words, Ripple and SEC believe enough evidence has been provided for a verdict outside a court case. They wait for Judge Torres’ decision supporting one side or the other based on already available evidence. A court battle that started way over in 2020 might soon be coming to an end. Ripple And XRP Community Expect A Favorable Verdict Like Ben Armstrong, the Ripple community and Ripple Labs are expectant of a favorable ruling. If that happens, XRP will not be considered a Security but a digital asset, just as Ripple intended.  Another crypto influencer predicted that if this happens, it will be the needed boost the bearish crypto market needs. David Gokhshtein tweeted that the crypto market will go parabolic should XRP win this case. He and Brad Garlinghouse, Ripple’s CEO, believe a win for XRP would stamp cryptos stand with regulation. Consequently, it would increase investors’ faith in the ailing asset. Whale Movements On XRP Blockchain Also Partially Responsible For Price Boost Another reason for the surge in XRP seems to be whale movements on the platform. On-chain analytics firm, Sentiment data reveal an increase in whale transactions on the Ripple blockchain.  Furthermore, the Whale Alert crypto tracker revealed multiple anonymous transfers of significant amounts of XRP in the past week. Data showed that a 261 million XRP transfer and another 582 million XRP transaction took place. Ripple was involved in both transactions, moving 80,000,000 of the tokens externally. In total, close to a billion tokens exchanged hands in whale transactions last week.  Related Reading: Can WAVES Flow Back From Its Low Ebb And Reclaim $4.6? These two factors mentioned above are mainly responsible for the continuous climb of XRP tokens over the last week. One can only wait to see if the XRP community’s optimism is indeed rightly placed and that ripple will indeed win the case. At the time of writing, XRP is currently trading around $0.48 after briefly testing $0.52 earlier today per Coinmarketcap data.  Featured image from Pixabay and chart from TradingView.com

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WazirX Announces Delisting of USDC, USDP, and TUSD in a Clear Boost to BUSD

Stablecoins Are Great For Payment But Bitcoin Is The Best Answer For Inflation, Says Facebook’s Crypto Chief

India-focused crypto exchange WazirX will unlist three leading stablecoins — Circle’s USDC, Paxos’ USDP, and TrueUSD’s TUSD — effective September 26. In a statement, the company said that users could withdraw their funds by October 5, after which these stablecoins will automatically be converted into BUSD. “WazirX has stopped deposits of USDC, USDP, and TUSD, […]

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Cardano Creator Charles Hoskinson Says Hundreds of Crypto Projects Gearing Up for Launch After Blockchain Upgrade

Charles Hoskinson says many projects are preparing to launch on the Cardano (ADA) blockchain after its Vasil hard fork upgrade. Hoskinson, the Cardano co-creator, says in a tweet that there are hundreds of projects announcing they will advance using ADA’s new capabilities become available to developers next week. “I’ve seen hundreds of tweets like this […]

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Crypto Trader Predicts XRP Could Erupt by Over 80%, Updates Outlook on Bitcoin (BTC) and Two Altcoins

A widely followed crypto analyst is predicting a massive surge for Ethereum (ETH) competitor XRP while updating his outlook on Bitcoin (BTC) and two other altcoins. Pseudonymous trader Altcoin Sherpa tells his 183,000 Twitter followers that XRP should rise to $0.60 before ultimately shooting up to $0.87. “XRP: Go to $0.60 and then $0.87 if […]

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