South Korea chose XRP as their first preference over other cryptocurrencies. Ripple experienced an increase of over 1.72% in the last 24 hours. Ripple (XRP), the world’s fifth-ranked cryptocurrency, has surpassed the leading altcoin as the most popular cryptocurrency in South Korea. According to the report, crypto traders in South Korea chose XRP as their first preference over other cryptocurrencies. On the other hand, Ripple has experienced a surge of around 2% in the past 24 hours. South Korean crypto exchange Bitsum shared a report showing different age groups’ investment choices. Notably, traders in their 20s are the most active traders in the country. As per the report, XRP is the most popular cryptocurrency among this age group, with over 20% of people in the category opting for this token. The crypto market has experienced significant growth and development over the past few years. The younger generation played an important role in the growth of the crypto market. A generational shift in preference shows the unique attributes and features that XRP brings to the table. XRP Experiences Significant Growth in South Korea According to the report, 82.5% of investors in their 20s were invested in altcoins. Among them, the most popular altcoin invested in was Ripple, with 20.7%. Moreover, with this, Ripple surpasses the crypto market’s leading players, Bitcoin and Ethereum. While these cryptocurrencies are significant players in the crypto market, XRP’s growth in South Korea boosts investor’s confidence. Several factors contributed to the surge in Ripple’s activity. It includes XRP’s use cases, technological advancements, and strategic partnerships. Moreover, the most anticipated Ripple victory against the U.S. SEC has added more strength to the XRP position. Adding to that, XRP experienced a massive surge of around 60% after Ripple’s lawsuit victory. At the time of writing, Ripple is trading at $0.5286, with an increase of over 1.72% in the last 24 hours. However, the daily trading volume of XRP has experienced a decline of over 18.29%, according to CoinMarketCap.

Acquisition of Paris based digital assets liquidity provider drives EU client growth LONDON & PARIS–(BUSINESS WIRE)–B2C2, the leading crypto liquidity provider servicing institutional clients globally, has successfully completed the acquisition of Woorton, the European leader in market making and over the counter transactions in the digital asset industry. This strategic move marks B2C2’s commitment to enhance client coverage and with the incoming MiCA (Markets in Crypto Assets Regulation) regulations, B2C2 will have the opportunity to service clients in the EU (European Union) jurisdiction as well as unlocking client growth opportunities outside the United Kingdom, Asia-Pacific and United States of America. The acquisition grants B2C2 access to Woorton’s PSAN (prestataires de services sur actifs numériques) License, regulated by the AMF (Autorité des Marchés Financiers), authorising B2C2 to operate inside the EU. Founded in 2017, Woorton supports an active client base of nearly 250 clients trading 96 coins and 24/7 liquidity provision. The business has strong ongoing regulatory engagement and is a co-founder of ADAN (Association for the Development of Crypto-Assets), a new initiative to maintain a dialogue between the digital asset industry and policymakers and is an active participant in drafting the regulatory framework applied to digital assets in France. It has been instrumental in founding Paris Blockchain Week which gathers over 5,000 attendees and 170 speakers from all over the world for a week-long series of events on blockchain and digital assets. Charlie Meraud, CEO of Woorton commented: “In joining forces with B2C2 we bring together the complementary strengths of our two firms. With a stronger combined platform, our customer base will enjoy access to a more robust liquidity pool and an improved market presence. We will better support our clients in providing the best liquidity and trading experience in digital assets and are thrilled to join Nicola, Thomas and the team.” Nicola White, CEO of B2C2 said, “This acquisition is an important milestone in the ongoing journey of B2C2’s growth and evolution. We welcome joining forces with Woorton’s expert team who, with their collective experience, have built a first rate digital assets market making firm supported by a robust client base and strong regulatory standing. We are excited about the possibilities that this acquisition unlocks for B2C2 and our client base in the EU.” Thomas Restout, Head of EMEA at B2C2 said “Woorton is an innovative and forward-thinking firm which has an excellent cultural fit with B2C2 and with shared values, risk frameworks, operational practices. Like us, the team has a TradFi background but with the same crypto and digital assets laser focus. Together we are a combination of highly complementary businesses that deliver multi asset breadth and depth to clients in the EU market.” About B2C2 More than just a liquidity provider, B2C2 is a digital asset pioneer building the ecosystem of the future. The firm has unlocked institutional access to crypto by providing reliable liquidity across market conditions. B2C2’s success is built on crypto native technology and continuous product innovation, making it the partner of choice for diverse institutions globally. Founded in 2015 and majority owned by Japanese financial group, SBI, B2C2 Ltd is headquartered in the UK, with offices in the US and Japan. B2C2 Ltd is registered in England and Wales under company number 07995888 with its registered office at 86-90 Paul Street, London, EC2A 4NE. B2C2 Ltd is the parent company of the B2C2 group of companies. Products may be provided by different members of the B2C2 group of companies, depending on the jurisdiction of the client and the regulatory status of the product and/or B2C2 group member. B2C2 is a registered trademark. Contacts B2C2 [email protected]

In a major development, the US Securities and Exchange Commission (SEC) has charged former New Jersey State Correctional Police Officer, John A. DeSalvo, for allegedly orchestrating a fraudulent crypto fraud scheme that specifically targeted law enforcement personnel. DeSalvo stands accused of raising funds through the unregistered offering of the Blazar Token, a crypto asset he created, which eventually collapsed in May 2022. The SEC’s complaint further alleges misappropriation of investor funds, including diverting substantial amounts to his crypto asset wallets and using them for personal expenses, such as a bathroom renovation. Crypto Scam Targeting Cops? According to the SEC, DeSalvo managed to raise a minimum of $620,000 from around 220 investors between the launch of the Blazar Token in November 2021 and its subsequent collapse. The complaint reveals that DeSalvo made “false claims” to investors, stating that the Blazar Token was registered with the SEC and that it would replace existing state pension systems. He further “deceived” investors by falsely assuring them that automatic payroll deductions would facilitate their investment and guarantee extraordinary returns. Ultimately, DeSalvo allegedly misused and misappropriated the funds entrusted to him. Notably, the SEC’s complaint highlights DeSalvo’s deliberate targeting of fellow law enforcement and first responders in his fraudulent schemes. In addition to the Blazar Token scheme, the SEC’s complaint also exposes an earlier fraud initiated by DeSalvo. Beginning in late January 2021, he allegedly solicited investors, primarily through social media, for an investment venture that involved trading stocks, options, and crypto asset securities. Within weeks of raising $95,000 from 17 investors, DeSalvo reportedly lost a significant portion of the funds through speculative investments and misappropriated the rest. He proceeded to inform investors that poor market conditions led to the complete devaluation of the securities. SEC Accuses Former Officer Of Exploiting Trust Gurbir S. Grewal, Director of the SEC’s Division of Enforcement, condemned DeSalvo’s actions, stating: Grewal further emphasized the breach of trust perpetrated by DeSalvo, who “exploited” his former position as a corrections officer to gain the confidence of fellow law enforcement professionals, many of whom invested their “hard-earned” savings with him. The SEC’s complaint, filed in the U.S. District Court for the District of New Jersey, charges DeSalvo with violating antifraud and offering registration provisions of the securities laws. The SEC seeks injunctive relief, disgorgement of ill-gotten gains with prejudgment interest, and imposition of civil penalties. Simultaneously, the U.S. Attorney’s Office for the District of New Jersey has announced criminal charges against DeSalvo, further underscoring the severity of the allegations and the commitment to holding him accountable for his actions. At the time of writing, Bitcoin (BTC) maintains its upward trajectory in price, currently trading at $26,700, reflecting a notable increase of over 3% within the past 24 hours. Featured image from iStock, chart from TradingView.com

Bitcoin price started a recovery wave above the $26,250 resistance. BTC could gain bullish momentum if there is a close above the $27,000 resistance. Bitcoin is slowly moving higher above the $26,250 support zone. The price is trading above $26,250 and the 100 hourly Simple moving average. There is a connecting bullish trend line forming with support near $26,250 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could continue to rise if it clears the $27,000 resistance. Bitcoin Price Recovers Bitcoin price remained well-bid above the $25,800 level. BTC formed a base and started a recovery wave above the $26,050 level. The bulls were able to push the price above the $26,250 level. There was also a break above the $26,500 resistance. Finally, the price tested the $26,780 zone. A high is formed near $26,779 and the price is now consolidating gains. It is trading just below the 23.6% Fib retracement level of the recent wave from the $25,360 swing low to the $26,779 high. Bitcoin is trading above $26,250 and the 100 hourly Simple moving average. There is also a connecting bullish trend line forming with support near $26,250 on the hourly chart of the BTC/USD pair. Source: BTCUSD on TradingView.com On the upside, immediate resistance is near the $26,600 level. The first major resistance is now near the $26,780 level, above which the price might rise toward the $27,000 resistance. A close above the $27,000 resistance could start a decent increase toward the $27,500 resistance zone. Any more gains might set the pace for a larger increase toward $28,200. Are Dips Supported In BTC? If Bitcoin fails to clear the $26,780 resistance, it could start a downside correction. Immediate support on the downside is near the $26,250 zone and the trend line. The next major support is near the $26,050 level or the 50% Fib retracement level of the recent wave from the $25,360 swing low to the $26,779 high. A downside break below the $26,050 level might push the price again into a bearish zone. In the stated case, the price could drop toward $25,550. Technical indicators: Hourly MACD – The MACD is now gaining pace in the bullish zone. Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is now above the 50 level. Major Support Levels – $26,250, followed by $26,050. Major Resistance Levels – $26,780, $27,000, and $27,500.

Ethereum price is recovering above the $1,650 resistance against the US Dollar. ETH could rise further if there is a clear move above the $1,700 resistance. Ethereum is moving higher above the $1,650 and $1,660 levels. The price is trading above $1,670 and the 100-hourly Simple Moving Average. There was a break above a key bearish trend line with resistance near $1,660 on the hourly chart of ETH/USD (data feed via Kraken). The pair could continue to rise if it clears the $1,700 and $1,720 resistance levels. Ethereum Price Eyes Steady Recovery Ethereum’s price formed a support base above the $1,580 and $1,600 levels. ETH started a recovery wave and was able to rise above the $1,650 resistance, like Bitcoin. There was a break above a key bearish trend line with resistance near $1,660 on the hourly chart of ETH/USD. The pair is now struggling to clear the $1,700 resistance zone. A high is formed near $1,698 and the price is consolidating gains. Ether is trading above $1,670 and the 100-hourly Simple Moving Average. It is also near the 23.6% Fib retracement level of the recent increase from the $1,580 swing low to the $1,698 high. Source: ETHUSD on TradingView.com On the upside, the price might face resistance near the $1,700 level. The next resistance is near the $1,720 zone. A successful close above the $1,700 and $1,720 levels could start a fresh lift-off. The next major resistance is near the $1,780 level. Any more gains might send the price toward the $1,820 resistance. Another Drop in ETH? If Ethereum fails to clear the $1,700 resistance, it could start another decline. Initial support on the downside is near the $1,670 level and the 100-hourly Simple Moving Average. The first major support is near the $1,550 zone. The next key support is near the 50% Fib retracement level of the recent increase from the $1,580 swing low to the $1,698 high at $1,640. If there is a downside break below $1,640, there could be more losses. The next major support is near the $1,600 support level. Any more losses might send the price toward the $1,580 level or even to a new low below $1,550. Technical Indicators Hourly MACD – The MACD for ETH/USD is losing momentum in the bullish zone. Hourly RSI – The RSI for ETH/USD is now above the 50 level. Major Support Level – $1,640 Major Resistance Level – $1,700

Tron price is rising and trading above $0.0760 against the US Dollar. TRX is outperforming Bitcoin and could rally further toward the $0.0820 resistance. Tron is moving higher from the $0.0720 support zone against the US dollar. The price is trading above $0.0760 and the 100 simple moving average (4 hours). There is a key bullish trend line forming with support near $0.0762 on the 4-hour chart of the TRX/USD pair (data source from Kraken). The pair could continue to climb higher toward $0.080 and $0.0820. Tron Price Starts Fresh Increase This past week, Tron’s price saw a sharp decline below the $0.0760 support against the US Dollar, similar to Bitcoin and Ethereum. TRX tested the $0.0715 zone where the bulls took a stand. A low was formed near $0.0713 and the price started a fresh increase. There was a decent increase above the $0.0740 and $0.0750 resistance levels. It even outperformed Bitcoin in the past couple of sessions and broke the $0.0760 resistance. There was a move above the 76.4% Fib retracement level of the downward move from the $0.0775 swing high to the $0.0713 low. TRX is now trading above $0.0760 and the 100 simple moving average (4 hours). There is also a key bullish trend line forming with support near $0.0762 on the 4-hour chart of the TRX/USD pair. On the upside, an initial resistance is near the $0.0790 zone. The first major resistance is near $0.080, above which the price could rise toward the $0.0820 resistance or the 1.618 Fib extension level of the downward move from the $0.0775 swing high to the $0.0713 low. Source: TRXUSD on TradingView.com A close above the $0.0820 resistance might send TRX further higher. The next major resistance is near the $0.0850 level, above which the bulls are likely to aim a larger increase toward the key $0.0900 zone in the coming days. Are Dips Limited in TRX? If TRX price fails to clear the $0.080 resistance, it could start a downside correction. Initial support on the downside is near the $0.0760 zone and the trend line. The first major support is near the $0.0745 level, below which the price could accelerate lower. The next major support is $0.0715. Technical Indicators 4 hours MACD – The MACD for TRX/USD is gaining momentum in the bullish zone. 4 hours RSI (Relative Strength Index) – The RSI for TRX/USD is currently above the 50 level. Major Support Levels – $0.0760, $0.0745, and $0.0715. Major Resistance Levels – $0.0790, $0.0800, and $0.0820.

Following Shibarium’s botched launch, the network’s developers promised to provide regular updates as the network put measures in place to scale and handle any substantial amount of traffic. And in his latest update, lead developer Shytoshi Kusama has revealed plans to start implementing the “ShibPaper.” What Is The ShibPaper? According to the blog post released on August 22, Kusama announced that the implementation of the ShibPaper will begin on August 23 in hopes that Shibarium can accomplish a huge part of its vision of becoming a “decentralized digital nation state” this year. Shibarium had, before launch, been touted to become a major player in the DeFi space upon launch. However, users questioned its decentralized nature following the botched launch, with users’ funds reportedly getting stuck on the Shibarium bridge. This isn’t the first time the ShibPaper has been mentioned as Shiba Inu’s developer Kaal Dhairya highlighted the document in a tweet on August 18, labeling it as the “foundation” for Shibarium’s decentralized digital nation. The ShibPaper, written by Shytoshi Kusama and described by him as “the most comprehensive decentralization document the world has ever seen,” is simply a whitepaper outlining the ecosystem’s plans to create a “Shiba Inu State” which will act as a “beacon” guiding the world towards decentralization. According to the document, the Canine Code and Hound’s Constitution will guide the Shiba Inu State. These “foundational scripts” will be the law to the state’s citizens, called “Shibizens.” The state aims to imbibe values such as loyalty, unity, and service among members of the state. It also intends to promote a sense of collectiveness among Shibizens. Shibarium has also left the door open to a future native token. Currently, the ecosystem is governed by the SHIB, LEASH, TREAT, and BONE tokens. However, it suggested in the ShibPaper that there could be “potential successors” to these tokens. Shibarium will back the current and future governance tokens with tangible assets “transparently overseen via blockchain smart contracts” in a bid to maintain financial integrity. Next Steps For Shiba Inu And Shibarium Although the Ethereum layer-2 network has resumed block production, it remains closed to the public. However, Kusama announced that the network is almost ready to reopen to the public as he revealed that the blockchain is now “enhanced and optimized.” Furthermore, as part of its efforts to protect users’ funds if the network experiences a traffic surge again, the team has enabled “a new monitoring system and additional fail safes.” While the network has undoubtedly endured a difficult start, Kusama believes the “upcoming winners” are the protocols and projects looking to build on it. He believes Shibarium’s utility will lie in these protocols, products, and services. Just like Ethereum, which is known to host several “amazing platforms,” Kusama mentioned that users will also have several options on Shibarium. He, however, advised them to DTOR (Do Their Own Research) going forward.

As Jerome Powell, the Federal Reserve (Fed) Chair, prepares to return to Jackson Hole this Friday, the Bitcoin (BTC) market is experiencing a sense of anticipation due to the similarities in the current price action compared to the period leading up to last year’s speech. Key moving averages have been tested and lost over the past two weeks, followed by a period of consolidation, reminiscent of previous events. However, it is important to note that these similarities do not guarantee a repeat of the past, as market conditions and Powell’s stance have since evolved. Déjà Vu In The Bitcoin Market? According to Keith Alan, co-founder of analysis and crypto research firm Material Indicator, last year, in the two weeks preceding Powell’s speech, BTC’s price broke through crucial technical support levels represented by the 21-day, 50-day, 100-day, and 200-week Moving Averages (MA). Subsequently, a period of consolidation ensued, followed by a significant price drop in response to Powell’s hawkish tone during the speech. Alan stated: Notably, the recent price action in the Bitcoin market has displayed similarities to last year’s pattern. Over the past two weeks, Bitcoin has tested and lost these same key moving averages, and it is currently undergoing a phase of consolidation, mirroring the events leading up to Powell’s previous address. Keith Alan emphasizes that since last year’s Jackson Hole event, there have been notable changes. Core inflation has decreased, and Powell’s approach to communication has become more “measured”. It is uncertain whether Powell will adopt a hawkish or dovish stance in his upcoming speech, making it challenging to predict the market’s reaction with certainty. What is evident, however, is that the market is primed for a significant move. Additionally, Alan suggests that the formation of a lower low in price increases the likelihood of an extension of the existing downtrend. Market participants should be prepared for the possibility of further testing of support levels. As the Bitcoin market awaits Powell’s speech, market sentiment remains dynamic. Traders and investors are anticipating potential market-moving cues from the event. As the date of Jerome Powell’s return to Jackson Hole approaches, Bitcoin has displayed a notable recovery of 2.1% within the past 24 hours, marking a positive upward movement that brings it closer to the $27,000 threshold. However, it is crucial to note that if the outcome of Jerome Powell’s speech on Friday proves favorable for crypto investors and propels Bitcoin’s price to higher levels, the cryptocurrency may encounter a significant obstacle in the form of its 200-day moving average positioned at $27,200. Featured image from iStock, chart from TradingView.com

The performance of the top meme coins in the space has mostly mirrored the broader market crash triggered by Bitcoin’s decline toward the $25,000 level. However, while all of these digital assets have suffered losses during this time, some have held up better than others, leading to fewer losses on their part compared to their competitors. Baby Doge Coin (BABYDOGE) Leads Meme Coins This meme coin has surprisingly seen the best performance following the crash compared to its counterparts. While most top meme tokens have recorded double-digit losses, Baby Doge Coin (BABYDOGE) managed to keep below the 10% loss level, coming in with only single-digit losses. As data from the coin tracking website Coinmarketcap shows, BABYDOGE’s price decline over the last weeks came in 5.97%. This is in stark contrast to others that have come in above 10%, making BABYDOGE the meme token that has held its value best through the crash. Dogelon Mars (ELON) Performs Well Dogelon Mars (ELON) is another meme coin that has put up a tremendous fight against the bears in the last week. Just like BABYDOGE, the token came in with 10% losses in the last week, although by a much narrower margin. The meme token is down 7.85% on the weekly chart, showing impressive resistance. And unlike BABYDOGE which is up 0.63% in the last day, Dogelon Mars (ELON) is seeing losses of 3.35% during this time period, putting it on par with other meme tokens struggling on Wednesday. Dogecoin (DOGE) Holding Firm While Dogecoin saw significant losses following the crypto crash last week, the leading meme coin has held its own, with its losses currently falling below 10%. DOGE’s losses on the weekly chart came out to 9.76%, ranking it third when it comes to meme tokens that have held their value. Following in the same step as BABYDOGE, Dogecoin is starting to see gains on the daily chart. The cryptocurrency is seeing small gains of 0.61% at the time of this writing. Nevertheless, with a market cap of $8.9 billion, it remains the largest meme coin in the industry. How Other Meme Coins Are Doing The three meme coins listed above are the only meme tokens that have seen losses below 10%. Others such as Pepe (PEPE), Shiba Inu (SHIB), FLOKI (FLOKI), and Bone ShibaSwap (BONE) have all performed way worse with losses of 15.71%, 16.23%, 19.12%, and 21.18%, respectively. However, some of these tokens are beginning to see a light at the end of the tunnel. Out of these, BONE and SHIB seem to be on a reversal trend, recording 2.36% and 3.51% gains, respectively, on the 24-hour chart.

Substantial Bitcoin (BTC) transfers have been reported again, often setting the stage for market speculation. Over the past 24 hours, there have been two significant BTC transactions. This transaction has sparked debate within the crypto community, especially since it comes shortly after the US Federal Bureau of Investigations (FBI) warned crypto firms that funds associated with North Korean hacker organizations, Lazarus Group and APT38, are on the move. A Potential Bitcoin Sell-Off On The Horizon? Earlier today, Whale Alert’s notifications drew attention to a roughly 4,800 BTC (approximately $124.95 million) transfer between two undisclosed wallets. Within two hours, another post from the platform reported the movement of 2,910 BTC, valued at close to $76 million. What caught the eyes of many was that this large sum was directed to Coinbase, one of the leading US cryptocurrency exchange platforms. It is worth noting that, historically, such transfers to exchanges have occasionally heralded selloffs, thereby causing speculations about a potential dip in Bitcoin’s value. BTC, North Korean Affiliations, And The FBI Warning While significant Bitcoin movements aren’t uncommon, the timing of these transfers has coincided with a pressing alert from the US Federal Bureau of Investigations (FBI), as mentioned above. The agency has warned crypto platforms of movements associated with the North Korean hacker groups, Lazarus Group and APT38. The Bureau also conveyed concerns that North Korea might try to liquidate Bitcoin. The funds allegedly totaling nearly $40 million, linked to these cybercriminal factions, have been shifted in the past day alone. The alert underscored the importance for private sector entities to vigilantly examine the blockchain data connected with these addresses. The statement noted: However, it’s important to note that so far, there has been no clarification that a direct connection has been established between the Bitcoin transactions reported by Whale Alert and the North Korean hacker-linked BTC movements. Yet, the coincidental timing of these significant transfers cannot be ignored. Should both sets of movements be inclined towards selling, Bitcoin’s price could experience a notable impact that could potentially result in the asset’s further decline. Regardless, Bitcoin has seen quite an uptrend in the past 24 hours, adding a 2.1% gain to its value with a current market price of $26,386, at the time of writing and a trading volume of $17 billion. Featured image from Unsplash, Chart from TradingView

Web3 SuperApp Kresus has introduced Kresus Marketplace, an integrated marketplace for discovering decentralized applications (dapps) on Polygon. Accessing the Polygon ecosystem and interacting with its most well-known dapps is now possible for users of the Kresus SuperApp, a global wallet and access to everything web3. Kresus Marketplace, a fresh addition to the Kresus SuperApp, was launched on August 17 and was developed to transform how users interact with blockchain. Polygon Labs contributed to the design, and it was created using Meroku’s Protocol to give an exquisite app store experience that blends a dapp browser with smooth web3 connectivity. For dapps focused on use cases like DeFi, GameFi, digital IDs, and social networks, Polygon is one of the leading networks. As a consequence, Kresus users will have access to a wide variety of dapps that benefit from Polygon’s extensive ecosystem. A secure approach to explore web3 is made possible by the Kresus SuperApp’s inclusion of a specialized dapp store. In a setting with a user experience (UX) similar to web2, it exposes users to blockchain-based apps. As a consequence, engaging with onchain apps is less complicated, resulting in a richer and safer user experience. Kresus will launch a variety of new tools to improve access to the Polygon ecosystem to support the launch of its eponymous Marketplace. Among these is Kresus Connect, an SDK that enables a limited number of Polygon projects and dapps to provide a Kresus wallet connection. As a result, their individual platforms will see an increase in users, and Kresus users will have easier access to the greatest Polygon projects. Kresus users may now explore the Polygon ecosystem in a comfortable web3 environment and without having to export their account information, from discovering metaverses to creating digital identities. Users of SuperApp will be able to quickly and easily begin discovering the finest of Polygon thanks to the Kresus Marketplace.

XRP Ledger has now closed over 82 million total ledgers, reaching another major usage milestone for the Ripple ecosystem. The number of XRP accounts continues to grow, recently hitting an all-time high of 4.75 million. Beyond usage metrics, new developments like the Layer-2 platform Evernode show the XRPL is evolving with additional functionality. The XRP Ledger (XRPL), the underlying blockchain behind the XRP cryptocurrency, has now closed over 82 million total ledgers. According to tracker XRPL Services, the exact ledger index recently reached 82,043,421, crossing another major milestone. This comes just over a month after XRPL closed its 81 millionth ledger. The continuous growth in closed ledgers reflects over a decade of ongoing activity since the XRPL was first created in 2012. The ecosystem also recently celebrated 11 years since its founding this past June. In additional milestones, the number of XRP accounts has hit a new record high of 4.75 million. Over 58 billion XRP are held across these accounts, with around 1 million containing no XRP balances. Beyond the ledger achievements, the XRPL ecosystem continues to evolve with new functionalities. Layer-2 smart contract platform Evernode recently announced upgrades ahead of its planned September 1st snapshot. The changes aim to improve reliability for hosts running multiple Evernode tenant contracts by preventing them from being blocked as denial-of-service attacks. With development ongoing and core usage metrics still rising, proponents view the XRPL as cementing itself as one of the most utilized public blockchains. The sustained activity underscores the real-world utility underpinning XRP’s usage and role.

Non-fungible token (NFT) aggregator Rarible has plans to cease aggregating orders from marketplaces OpenSea, LooksRare, and X2Y2. The decision comes after OpenSea decided to shift to an optional royalty model. On Thursday, August 17, OpenSea disclosed that royalties – pay cuts from secondary sales – will become optional for new NFT collections after August 31, 2023. Meanwhile, royalty fees for NFT collections that currently utilize the Operator Filter – a feature that enforces creator royalties – will become optional after February 29, 2024. Although the optional royalty model has always been a source of debate in the NFT community, many marketplaces embrace it – with X2Y2 and LooksRare introducing zero royalty fees for artists as far back as 2022. Rarible Throws Support Behind NFT Creators And Artists On Tuesday, August 22, Rarible announced – via a post on X (formerly Twitter) that it will no longer aggregate orders from OpenSea, LooksRare, and X2Y2 by September 30. According to the NFT aggregator, this decision was taken because of its “unwavering support for NFT creators and artists.” Alex Salnikov, co-founder of Rarible, said in a statement: The Rarible co-founder stated that by making royalties optional, the value and compensation for creativity are also being stripped off. “Decentralization offers the opportunity to dispel the stigma of the “starving artist,” and enable the continued growth of projects through true ownership and ongoing earnings,” he noted. Salniko urged the NFT community to become more active in defining the future of Web3. Pressure Mounts On OpenSea This news is another potential setback for OpenSea, especially as Rarible is not the first NFT entity aiming to cut ties with the one-time largest digital asset marketplace due to its proposed zero-royalty shift. On Friday, August 18, Yuga Labs – creators of the popular Bored Ape Yacht Club collection – declared that it had begun the process of sunsetting support for OpenSea’s SeaPort for all “upgradable contracts and new collections” before February 2024. Despite the seemingly waning interest in the collection, Bored Ape Yacht Club is still one of the most significant contributors to the total trading activity on OpenSea. It ranks as the top collection on the marketplace, with a daily trading volume of 1,440 ETH (approximately $2.37 million). Hence, losing this blue-chip collection – and other Yuga Labs’ creations – will likely affect OpenSea’s performance and position in the market. According to a new Messari report, Blur remains the dominant marketplace, accounting for about 60% of the total NFT trading volume.

A recent report from Techcrunch noted the integration between Solana and Shopify. One of the largest marketplaces in the world, the cooperation will enable millions of businesses and customers to use digital assets for their purchases. Solana Enters The Mainstream With Shopify Cooperation? Speaking with the media outlet, Josh Fried from the Solana Foundation highlighted that the Pay supported by stablecoin USDC is the first to integrate with the marketplace. This digital asset was chosen due to its low volatility and familiarity with the US dollar. However, in the future, other cryptocurrencies could become a part of the integration, including the native currency of the Solana ecosystem SOL. As Techcrunch noted, Shopify is one of the prominent marketplaces with $444 billion worth of global economic activity or 10% of the total US e-commerce. Thus, the Solana ecosystem will have the capacity to reach millions of users looking for alternative payment options when shopping online. Fried stated the following regarding the new integration: The Solana Foundation member also highlighted the benefits for merchants who decided to adopt the new features on Shopify. Legacy payment rails cost merchants between 1.5% to 3.5% per transaction, compared to SOL’s $0.00025, which is “practically fee-free.” In addition to these benefits, Fried believes the new integration can help businesses launch loyalty programs and other services by leveraging SOL’s ecosystem. The report clarified that crypto bands, including Mad Labs, Helius, MonkeDAO, and others, have already adopted the integration. Fried called Solana Pay the ideal feature for payments for the reasons stated above and added: Shopify, eBay, and even e-commerce giant Amazon are warming up to crypto in some capacity. Shopify and its CEO, Tobias Lütke, have been taking steps to integrate with the nascent industry. In January, Lütke joined crypto exchange Coinbase and its board of directors. As of this writing, SOL’s price trades at $21 after experiencing some profits during today’s trading session. The cryptocurrency recorded a 3% increase during this period. Cover image from Unsplash, chart from Tradingview

On-chain data shows the Bitcoin exchange reserve has shot up during the past day, indicating that more drawdown may be coming for the price. Bitcoin Exchange Reserve Has Registered A Large Increase A few days back, a crash shook both Bitcoin and the wider cryptocurrency market, as the BTC price plummeted from above $29,000 to below $26,000 instantly. In the days since then, the asset has failed to show any signs of recovery, either, as its value has only continued to move sideways, as the chart below displays. Bitcoin is trading around $25,800, suggesting a decline of 11% during the past week. This weekly performance of the number one asset in the sector is worse than some of the other top coins, like Ethereum (ETH) and Cardano (ADA). It’s currently unclear whether the asset has hit its bottom, or if more decline is on the horizon, but if on-chain data is anything to go by, the latter may be more likely. As pointed out by an analyst in a CryptoQuant post, the exchange reserve has risen during the past few hours. The “exchange reserve” here refers to a measure of the total amount of Bitcoin currently being stored inside the wallets of all centralized exchange platforms. When the value of this metric goes up, the investors are depositing a net amount of the asset to these platforms right now. As one of the main reasons holders may transfer their coins to the exchanges is for selling-related purposes, this trend can cause bearish implications for the cryptocurrency’s price. On the other hand, decreases in the indicator’s value imply the holders are taking their BTC off these central entities. Such a trend may be a sign that the investors are accumulating currently, which can naturally be bullish for the cryptocurrency in the long term. Now, here is a chart that shows the trend in the Bitcoin exchange reserve over the past week or so: The graph shows that the Bitcoin exchange reserve has registered a sharp uptick in the last few hours, implying that investors have been depositing big to these platforms. The chart shows that the indicator also rose during the buildup to the crash, but the sharpness of the growth being observed this time is on another level. In the lower graph, the quant has attached the data for the individual reserves of Coinbase and Binance, as well as for all spot and derivative platforms. It’s apparent that most of the rise has come from the derivative side of the market, with Binance seeing the largest spike. Investors use spot exchanges for selling, so the fact that most of the deposits have been towards derivative platforms may imply that investors are just looking to open up new positions on the futures market, which can also lead to more volatility. Still, the direction of it could go either way. Nonetheless, the spot exchange reserve has also observed a rise (although much smaller in scale), suggesting that a selloff might still be possible.

On August 22nd, the Bitcoin network difficulty surged by 6.17 percent. The next scheduled automatic adjustment will push the level of difficulty over 56 trillion. The underlying Bitcoin network is not looking to follow the negative BTC price behavior. New records have been set for both difficulty and hash rate, as verified by the most recent on-chain statistics. Bitcoin miners seem to be unfazed by the recent price decrease of 10%. On August 22nd, the difficulty was raised by 6.17 percent at the time of its most recent biweekly automatic readjustment. This was the sixth-highest difficulty increase for Bitcoin in 2023, according to data compiled by tracking portal BTC.com. Moreover, it was sufficient to push difficulty to all-time highs. As the difficulty of Bitcoin transactions increases, it reflects both more competition among miners and increased measures taken to secure the Bitcoin network. In order to maintain this pattern, the next scheduled automatic adjustment will push the level of difficulty over 56 trillion. Strong Backing by Miners Hash rate, or the projected hashing deployment of miners on the Bitcoin network, follows a similar pattern. Moreover, Hash rate is already around 400 exahashes per second (EH/s), which is difficult to determine properly but is already threatening existing all-time highs. On the other hand, Glassnode, an on-chain analytics startup, found that the sum of Bitcoin owned by mining organizations had not changed much. As of the 22nd of August, this has increased by a consistent 0.08% from the beginning of the month, reaching a little over 1.83 million BTC. According to CMC, the price of Bitcoin at the time of writing is $26,514 and is up by 2.85% in the last 24 hours. Highlighted Crypto News Today: Shopify Teams Up With Solana Pay; Boosting Crypto Adoption

The general crypto market has seen a decline in the last week, with most assets recording significant losses. Solana (SOL), one of the most prominent cryptocurrencies, is down by 11.50% in the last seven days and 16.17% in the last month. Interestingly, popular crypto analyst, Benjamin Cowen has posted a puzzling prediction on Solana, drawing much similarity between the token’s current price movement and historical price data of fellow altcoin Cardano (ADA). SOL To Close 2023 With Losses? According to an X post on August 23, Benjamin Cowem believes Solana’s price movement might be mirroring Cardano’s price trajectory in the last crypto cycle. Related Reading: Solana Cuts Saga Price By 40%, But Case For New SOL Yearly High Increases Based on the weekly charts of both assets, Solana presents a ranging market quite identical to Cardano’s price movement for most of 2019. In fact, in both charts, these ranging markets are preceded by a bearish trend. Analyzing this data, Cowen notes that SOL has recently encountered resistance at the $26 price zone, which is similar to Cardano’s trouble in crossing the $0.11 hurdle in mid-2019. The analyst predicts that if Solana is indeed mimicking Cardano’s price action, it will likely experience a downward trend for the rest of 2023. According to Cowen’s predictions, SOL could fall as low as $10 in 2023, just as Cardano plummeted to $0.028 in early 2020. If these projections hold true, the SOL market could lose over 50% of its value in the coming months. However, it is worth stating that Cowen’s price analysis does not spell all gloom for SOL investors. Upon falling to the $0.028 price zone in 2020, Cardano embarked on a bullish run, gaining by over 7,600% in the next two years. If Solana follows the same price pattern, the altcoin could trade as high as $1,500 in 2025. Investors should remember that predictions are not guaranteed and, thus, should be considered as investment advice. Solana, Among Others, Faces TVL Decline In other news, the Solana network has recorded a 4.5% decline in its Total Value Locked (TVL) over the seven days based on data from DefiiLlama. According to the DeFi analytics site, the majority of the DeFi ecosystem appears to be under siege, with total DeFi TVL having dipped below $40 billion and is currently valued at $37.56 billion. Related Reading: Cardano Holder Resilience Tested As ADA Fends Off Bearish Onslaught Aside from Solana, other prominent networks such as Ethereum, Cardano, and Polygon have also seen their TVL plummet by 11.08%, 6.54%, and 8.89%, respectively. At the time of writing, SOL is currently exchanging hands at $20.59, with a 2.16% loss on the last day. However, with a total market cap of 8.39 billion, Solana remains the ninth-largest cryptocurrency in the market.

At first, Shopify users will only be able to pay using USDC which is issued by Circle. Solana Pay streamlines the payment process benefiting both users and merchants. By integrating with Shopify Inc., one of the leading global e-commerce leader, Solana Pay, developed by Solana Labs, has attained a major milestone. With this strategic alliance, businesses will be able to better do business and interact with the digital assets realm. Using the Solana blockchain, Solana Pay offers frictionless transactions with the help of a robust and customizable JavaScript framework. Solana Pay uses a token transfer URL mechanism to guarantee wallet and service compatibility. Thus, making it simple for businesses to accept payments in supported cryptocurrencies without the need for a third party. However, at first, Shopify users will only be able to pay using USDC which is issued by Circle. Efficient Payment Choice By integrating with Shopify, Solana Pay is able to provide an innovative solution that makes decentralized, peer-to-peer payments accessible to a far wider range of enterprises. Such initiatives are beneficial for boosting crypto adoption on a global scale. Josh Fried, Head of Commerce Business Development at the Solana Foundation stated: Solana Pay eliminates unnecessary intermediaries. Hence getting rid of the need for things like bank fees, chargebacks, and lengthy holding periods. The protocol allows USD stablecoins that are compatible with Solana to be settled instantly, streamlining the payment process in a way that benefits both users and merchants. Moreover, this recent move will only allow merchants to enable loyalty programs with almost very little effort and engage with their customers to boost retention rates. Highlighted Crypto News Today: Shiba Inu (SHIB) Achieves Major Adoption Milestone

A Bitcoin on-chain indicator is currently attempting a breakout that could turn out to be a bullish signal for the asset’s value. Bitcoin Active Entities Is Trying To Escape Network Stagnation Range In a new post on X, Jamie Coutts, a Bloomberg Intelligence analyst, has discussed the BTC active entities metric, and how it has a strong relationship with the coin’s price. The “active entities” here are a measure of the unique total amount of Bitcoin addresses that are participating in some kind of transaction activity on the blockchain. Naturally, both senders and receivers are counted by the metric. When the value of this metric rises, it means that an increasing number of users are engaging with the network. Such a trend is a sign of growing adoption for the asset. On the other hand, declining values of the indicator imply that interest in the cryptocurrency may be waning, as fewer addresses are becoming active on the blockchain. The analyst has pointed out that the active entities metric has a high r-squared value with Bitcoin. From the table, it’s visible that the r-squared value for the active entities is 0.55. What this means is that 55% of all fluctuations in the cryptocurrency’s price can be explained by this variable. There are only a few metrics with a higher r-squared value, making the active entities an indicator with one of the strongest statistical relationships with BTC. “Importantly, this is also a stable relationship over time (ex the wonky pre-2012 data),” Coutts notes. Now, here is a chart that shows how the Bitcoin active entities have changed during the history of the cryptocurrency: As displayed in the graph, the Bitcoin active addresses have stagnated around each of the cycle lows, but in the periods between them, it has seen a rise, although the pace has been getting slower over time. Since 2021, the indicator has been inside a rather long phase of stagnation, as the indicator has been unable to escape out of a particular range. It would appear, however, that things might be starting to change for the better. The CMT explains that it’s looking like a TA-style breakout so far, but it’s not yet fully clear whether the Bitcoin active entities have truly escaped the stagnation range. If the metric can manage to stay above the range for the next few weeks, it might be a confirmation that the extra entities that have started trading on the network are truly planning to stick around, and hence, that constructive adoption is finally picking up for Bitcoin. BTC Price At the time of writing, Bitcoin is trading at around $25,900, down 11% in the last week.

Shiba Inu (SHIB) gains almost 1,000 new holders within 24 hours, reaching 2,418,416 total holders. Despite recent challenges, SHIB’s holder community continues to expand, with over 10 million new wallets added recently. Shibarium, the awaited layer-2 scaling solution, faced halts after its mainnet launch due to high demand. The meme-inspired cryptocurrency Shiba Inu (SHIB) continues to see its community of holders grow, even as developers work to relaunch the troubled Shibarium layer-2 network. According to analytics site CryptEye, the number of SHIB holders has increased by nearly 1,000 in the past 24 hours. The current total sits at 2,418,416 holders. This influx comes on the heels of SHIB adding over 10 million new wallets recently, per a report last week. The growth signals sustained interest despite recent setbacks. Shibarium, Shiba Inu’s long-awaited layer-2 scaling solution, was forced to halt operations shortly after its initial mainnet launch due to overwhelming demand. But the lead developer of Shiba Inu, Shytoshi Kusama, has provided daily updates on efforts to restore functionality at greater capacity. Kusama stated that after working with partners like Unification and Alchemy, Shibarium has now relaunched successfully in private testing mode. A public re-release appears imminent. Shibarium puppynet continues its stride Meanwhile, the Shibarium testnet, Puppynet, continues setting new records, recently crossing 33 million total transactions. Around 175,000 test transfers occur daily, showing strong activity. Despite the technical difficulties, SHIB’s developers and community seem undeterred. The renewed expansion of holders and progress on Shibarium’s restoration signal optimism about the dog-themed coin’s future. If the layer-2 platform can reach full operability, it could unlock new utility for SHIB.