The SEC vs Ripple Labs lawsuit is perhaps under the radar of all cryptocurrency traders despite the XRP community carrying the larger baggage.Ripple officials have indicated that more than $100 million has been spent on legal fees to fight the SEC.The U.S.SEC chair, Gary Gensler, has stood firm on classifying all crypto assets apart from Bitcoin as unregistered securities.To add insult to the injuries, Gensler has focused on centralized crypto exchanges including Kraken, Bittrex, Coinbase Global, and Binance for lacking proper registration.As a result, United States cryptocurrency customers cannot access crypto staking programs due to increased regulatory scrutiny.Tree of Alpha on XRP Regulatory Scrutiny According to a veteran crypto trader on Twitter called Tree of Alpha (@Tree_of_Alpha), the top 300 digital assets will explode if XRP in its current form is classified as a non-security.The crypto trader insisted that a positive XRP resolution is the best possible news a crypto trader can hope for now.
“The SEC has been unhinged trying to brand everything in Crypto as a security that they need to regulate.A clear win against them would hinder any future cases they might have against other alts/crypto companies,” the analyst added.Notably, the crypto trader noted that playing by the SEC rules does not yield the best outcome for digital assets-related firms.Similar Sentiments The XRP coin is not only a top-traded crypto asset but also one of the oldest in the industry.As a result, similar sentiments have been shared by most crypto influencers.Moreover, digital asset has deep liquidity on global exchanges including the futures market which is a favorite among institutional investors.Famous crypto influencer, Ben Armstrong alias BitBoy, argued that other altcoins are heavily dependent on Ripple’s success against the SEC.Was this writing helpful? No Yes Back to top button Leave a Reply [Cancel reply](/news/crypto-expert-list-top-beneficiaries-if-xrp-is-classified-as-a-non-security/#respond) Leave a Reply Crypto news Why Crypto Market is Down Today? What Caused $250 Million Liquidations In 24 Hours? The crypto market experienced a widespread selloff on April 19, resulting in over $160 million in assets being liquidated within an hour and a total of $250 million liquidated over the past day.
Bitcoin’s price dipped 2.4% to $29,000, while Ethereum saw a sharp decline below the $2,000 mark, dropping over 5.8% in 24 hours.This has left traders alarmed and has sent shockwaves throughout the industry.What next? Read on.Altcoins Follow Suit Prominent altcoins, such as Binance Coin (BNB), XRP, Cardano, Dogecoin, Polygon (MATIC), and Solana, also experienced a nearly 5% drop, contributing to the 3% decline in the global crypto market cap, which now stands at $1.23 trillion.Data from Coinglass highlights over $175 million in longs liquidated on April 19, with almost 75,000 traders affected within the last day.The largest single liquidation was a $3.02 million order on Binance’s BTCUSDT pair.As the market struggles, bulls are striving to protect pivotal levels for Bitcoin and Ethereum.The majority of liquidations were longs, possibly indicating a long squeeze.
Related: Bitcoin Price Forecast: BTC Price To Hit $45k by May 20th: Research Analysts Weigh In – Coinpedia Fintech News Ethereum-Bitcoin Pair Outlook Crypto analyst Smart Contracter says he is monitoring the Ethereum-Bitcoin (ETH/BTC) pair closely.
He believes the pair has likely reached its 2023 low at 0.062 BTC ($1,879) and is poised for a sustained uptrend in the coming months.He predicts that the pair will trade well over 0.10 ($3,032) by year-end, signaling Ethereum’s value is rising faster than Bitcoin.Currently, the ETH/BTC pair trades at 0.069 BTC or $2,092.
Smart Contracter also highlights that Ethereum has broken through a key resistance level on its weekly chart that has stifled its growth for almost a year.He suggests that it’s time to “overcome the PTSD (post-traumatic stress disorder) and get back into the mindset of the good old days.” As of press time, Bitcoin’s value stands at $29,212, while Ethereum is trading at $1,981.Was this writing helpful? No Yes Elena R Elena is an expert in technical analysis and risk management in cryptocurrency market.She has 10+year experience in writing – accordingly she is avid journalists with a passion towards researching new insights coming into crypto erena.
After announcing the production of bitcoin application-specific integrated circuits (ASICs), Intel, the world’s largest semiconductor chip manufacturer by revenue, appears to be abandoning its blockchain chip production.On Tuesday, a spokesperson for the chip manufacturer explained that Intel has “end-of-lifed the Intel Blockscale 1000 Series ASIC.” Intel Spokesperson Discloses Company Has End-of-Lifed the Blockscale 1000 Series ASIC In February 2022, the California-based technology company Intel made headlines when it announced its plan to create “energy-efficient accelerators,” or ASIC technology, to contribute to the development of blockchain technologies.Later that month, at the 2022 International Solid-State Circuits Conference (ISSCC), the company unveiled the Bonanza Mine BMZ1.At that time, Tom’s Hardware author Paul Alcorn stated that Intel was also developing a second iteration of the Bonanza Mine ASIC, known as the BMZ2.
Moreover, in March 2022, it was reported that mining firms such as Hive, Argo, Block, and Grrid were buying bitcoin mining chips from Intel.On Tuesday, Tom’s Hardware reporter Alcorn spoke to Intel about the project, and it appears that Intel is discontinuing its bitcoin accelerator production, also known as “Blockscale chips.” Alcorn further notes that “no future generations have been announced.” An Intel spokesperson stated: As we prioritize our investments in IDM 2.0, we have end-of-lifed the Intel Blockscale 1000 Series ASIC while we continue to support our Blockscale customers.In addition, Alcorn’s report notes that “Blockscale ASIC landing pages are now all inactive,” and product pages have been “scrubbed.” Intel also informed the reporter that customers have until October 2023 to order chips, but “shipments will end in April 2024.” So far, the dominant force in the ASIC manufacturing industry has been Bitmain, with few competitors.Aside from Bitmain, firms such as Microbt, Canaan, and Innosilicon also operate in this space.
According to reports, Bitmain uses 5nm TSMC-made chips, while Microbt utilizes Samsung’s 5nm ASIC technology.Additionally, Samsung is reportedly in the process of creating 3nm ASIC chips.
Tags in this story 3nm, 5nm, accelerators, Argo, ASIC, Bitcoin, Bitmain, block, Blockchain, Blockscale 1000 Series, BMZ1, BMZ2, Bonanza Mine, california, Canaan, chip manufacturer, competition, Cryptocurrency, Development, dominant force, end-of-lifed, energy-efficient, future generations, Grrid, hive, IDM 2.0, Innosilicon, Intel, ISSCC, landing pages, Microbt, mining firms, Mining Industry, Paul Alcorn, product pages, Samsung, Semiconductor, Shipments, technology, Tom’s Hardware, TSMC What do you think this move means for the future of ASIC manufacturing? Do you see any ASIC manufacturing competitors coming to the industry? Share your thoughts about this subject in the comments section below.Jamie Redman Jamie Redman is the News Lead at Bitcoin.com News and a financial tech journalist living in Florida.Redman has been an active member of the cryptocurrency community since 2011.He has a passion for Bitcoin, open-source code, and decentralized applications.Since September 2015, Redman has written more than 6,000 articles for Bitcoin.com News about the disruptive protocols emerging today.Image Credits: Shutterstock, Pixabay, Wiki Commons, Ireshetnikov54 / Shutterstock.com Disclaimer: This article is for informational purposes only.
It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies.Bitcoin.com does not provide investment, tax, legal, or accounting advice.Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.annual percentage rate Post-Shapella Hard Fork: Ethereum Deposits Exceed Withdrawals, Wait Time Climbs, ETH Transfer Fees Jump It has been a week since Ethereum’s Shapella hard fork, and statistics indicate that ethereum deposits on April 18 have exceeded withdrawals for the first time since the upgrade.At present, 929,999 ether worth $1.94 billion is pending withdrawal, and over the past three days, 112,568 ether has been added to liquid staking protocols.Just Under a Million Ether Worth Close to $2B Waits to Be Withdrawn; Average Network Fee Jumps Over $12 Per Transfer Since the Shapella upgrade, market participants have been closely monitoring Ethereum withdrawals as there was a lot of debate in the past over whether there would be massive sell pressure on the market.However, as of April 18, 2023, that has not been the case.Ethereum (ETH) is up 9% against the U.S.
dollar over the past seven days.During the week, withdrawals and those waiting to withdraw have continued to climb, and currently, just under a million ether, or 929,999, is in line to withdraw.On Tuesday, Nansen.ai statistics show that deposits have outpaced withdrawals, a first since Shapella was implemented on April 12.Shapella enabled ethereum stakers to withdraw both the full balance of a validator or a validator’s consensus layer rewards.When a full validator removes their 32 ether, they are deactivating their validator position as a whole, while partial withdrawals allow stakers to simply withdraw rewards earned over the period they started staking.The withdrawal queue can take days for people, and statistics currently show that some unstaking participants will wait close to 20 days to unlock their funds.On Tuesday, data showed that deposits moved above withdrawals, with ether being added to liquid staking protocols like Frax, Lido, and Rocketpool this week.According to liquid staking metrics from defillama.com on April 15, 2023, 8,030,870 ether was locked into liquid staking derivatives platforms.
As of today, that number has increased to 8,143,438 ether worth $17.10 billion using current ETH exchange rates.
The total value locked (TVL) in the liquid staking protocol Lido is $12.65 billion, which has increased by 1.86% over the last seven days.In terms of the 8.14 million ether staked, Lido accounts for 74.22% of the market share with 6,044,058 ETH staked.While Coinbase’s Wrapped Staked Ether protocol shed 2.84%, Rocket Pool recorded a 4.37% increase.Seven-day metrics also show that Frax Ether’s protocol TVL increased by 13.01%.Data shows that the annual percentage rate (APR) for staking ethereum is currently 4.87%, according to token.unlocks data.Statistics indicate a jump in higher Ethereum network fees during the week, as bitinfocharts.com data shows the average Ethereum network transaction fee is 0.0059 ETH or $12.45 per transfer, while the median-sized Ethereum network transaction fee is 0.0025 ETH or $5.30 per transfer.Etherscan.io’s gas tracker tool says a high-priority transaction will get through for 51 qwei or $2.92 per transaction.
An Opensea sale costs $10.10, a Uniswap v3 swap costs $26.02, and to send an ERC20 like Tether (USDT) will cost an estimated $7.63 per transfer.Tags in this story annual percentage rate, APR, Bitinfocharts.com, Coinbase, consensus layer rewards, defillama.com, deposits, ERC20, Ethereum, Ethereum network fees, FRAX, Frax Ether, Funds, gas tracker tool, Lido, Liquid Staking, market participants, Median-Sized, Nansen.ai, Opensea, Protocols, Rocket Pool, Rocketpool, sell pressure, Shapella hard fork, stakers, staking, Tether, token.unlocks, Transaction fee, transfer, TVL, U.S.dollar, uniswap v3, USDT, Validator, value locked, withdrawal queue, Withdrawals, Wrapped Staked Ether Do you think the trend of increasing deposits will continue? Share your thoughts about this subject in the comments section below.Jamie Redman Jamie Redman is the News Lead at Bitcoin.com News and a financial tech journalist living in Florida.
Redman has been an active member of the cryptocurrency community since 2011.He has a passion for Bitcoin, open-source code, and decentralized applications.Since September 2015, Redman has written more than 6,000 articles for Bitcoin.com News about the disruptive protocols emerging today.Image Credits: Shutterstock, Pixabay, Wiki Commons Disclaimer: This article is for informational purposes only.
It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies.Bitcoin.com does not provide investment, tax, legal, or accounting advice.Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.Top posts Microsoft2 hours ago Space And Time And Microsoft Make Blockchain Data Accessible On Azure Marketplace press release PRESS RELEASE.
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