The XRP Apex event is happening now and here are the 2 main updates of the first day.
The XRPL (XRPLedger) is expanding day by day and one of its record is that they are one of the most robust layer-1 blockchain with more than 5 million ACTIVE wallet on the XRP chain.
The first update is the reveal of the XRP stablecoin which will be named RLUSD ( in the intent of saying RLUSD like โrealโ-USD)
The second one is finally integrating interoperability between XRPL and the EVM ( Ethereum Virtual Machine), the bridging is going to be provided by Axelar. Is an interoperability good or bad ? Itโs good for a greater adoption because usually a majority of projects are built on the EVM and it includes the successful ones so the XRP ecosystem is going to have a better exposure with this connection. Itโs also, without going into the technical side of it, a positive update for the potential yield !
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The Biggest Crypto Regulation of this decade is about to pass in the U.S Senate !
The FIT21 crypto bill has finally the U.S House of Representatives approval.
Here is a little breakdown of this bill in 4 key points :
(1/4). The crypto exchanges (CEXs)will no longer be under the SEC jurisdiction (for the most part). So they arenโt gonna go offshore to be regulated.
(2/4). The SEC being to vague around the regulation system for digital currencies which makes it an impossible task to accomplish to be registered as a CEX in USA. So thatโs why CEXs will be no longer under SEC regulation but under Comodity Futures Trading Commission (CFTC) regulation.
(3/4). The bill allows a certification for an issuance of a โdigital commodityโ which indeed is more secure because with certain criteria specified in the bill this certification put a big stop sign to the scamy projects.
(4/4). Last insight worth emphasising, the leaders of a digital currency project, letโs just say the founders of RNDR for the sake of the example, are tied up to not dump all their token prior 12 months. They canโt have over 20% of the RNDR token supply at its start. So as an investor this prevent the founder to sell over your head on a crypto lunch which is unfair, an have happened a lot of times in the past ( but more on the memecoin side of crypto)
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Now that Grayscale have finished selling all their assets they no longer represent a big selling pressure. You seen the price of SOL drop from 195$ to 120$ only because they were the ones selling their SOL at 60 $ to be sure to pay back their debt.
Combine with the end of a selling pressure the Congress is passing one of the most important crypto bill of the year. That provide a major change in the crypto sphere as, us, little trader.
If you want to know what the crypto bill is really about like and follow, I will make an article that dive in it properly. See you soon! #Binance #DeFi #Web3 #SEC #DEX
The pump is coming from the CPI (consumer price index) data released by the government and there is really good news coming.
What is CPI and how can we determine if the data show a good or bad news for the markets.
First, CPI is working in a YTD schedule and with a month of delay. So for example the data releases from may 15 are about the month of April 2024 and the data of the month of April from 2023 are replaced by it. Itโs always working on a percentage of augmentation of inflation so of the CPI. The percentage for April 2023 was 0.4% and the percentage obtained for April 2024 is 0.3%. Itโs not linear some other month had 0.2 or 0.6, it depends.
Second, the prediction by the major analysts was a reduction from 3.5% inflation overall to 3.4% overall. And you guessed it right, it gone to exactly 3.4%.
So the math are a little more complex than just an average of number and addition between numbers. But it is really a good news because we at least see NO increase of inflation so we can potentially see a decrease.
Why a decrease of inflation is even better than it sounds ?
Because the fed is up to cut interest rates if we see inflation go down to 3% That means a pump for any asset class basically.
Price prediction of Bitcoin :
Only because may is the best month for markets in general and we seen that, time and time again, we should see bitcoin rise around the 67 000$ a $BTC .
Now combine with the hype of maybe seeing a rate cut late summer by the Fed because of the CPI data that is probably going to be favourable for a consideration of a cut, for the month of may, I assume a 70 000$ for beginning of June end of may a totally possible scenario.
The end price bracket for Bitcoin based on my current analysis sit between a 65 000 $ in the worst case and 71 500 $ for BTC in the best case for the end of May.
The RENAISSANCE hackathon of Solana took place from march 4th 2024 to April 8th of 2024. Some of the biggest sponsors of this event are Io.net, phantom, $PYTH , $RNDR and others.
More than 8 300 people participated ( like myself) that lead to 1 027 final projects proposed and champions for each category.
Here is the list of the 10 categories : - Grand Champion - Consumer apps track - Crypto infrastructure track - Gaming track - DeFi & Payment track - DePIN track - DAO & communities track - University award - Public goods award - Climate award
If you are interested in knowing the winners Iโm going to post all the winners in another separate one.
If you want to know which ones are actually interesting and on which ones Iโm bullish on, Iโm going to post an article about it, so STAY TUNED.
The Meta quest head set is growing in sales very steadily since the beginning.
There is lots of app very different from one another and lot more to come. Especially fitness app with reward in token, the token might be directly or indirectly $XRP . Thatโs the good news for the XRP community. Mark Zuckerberg and his team seem to really focus on this currency even though nothing is as certain.
If reward start to be implemented in the whole Meta quest ecosystem with $XRP or an other crypto it is beneficial for adoption in general no matter what, so it still is bullish for us.
December is the deadline for a new Batman game ONLY available on the meta quest. It is expected to be one of the best game of the year, a key component for the sales of a Meta Quest head set for the Christmas Holidays. It might drive to a certain extent more attraction to crypto if reward start to be tied with the ecosystem.
The Swiss ๐จ๐ญ central bank (CB) is kinda entering in the process of buying some Bitcoin to add it as a store of value like gold. This is a major info because itโs in the top 10 banks in Europe ( in terms of value held).
Moreover, there is BNP Paribas a France ๐ซ๐ท bank that is a little bit less engage than the Swiss CB right now but also considering it. BNP Paribas is in the top 3 of the same rank referred previously and France as the biggest crypto community in Europe.
If the European and American banks start to add Bitcoin in their chest obviously the others will follow.
Think that crypto is not even a bit mainstream yet and all the banks + ETFs are going to pump up the price before the regular guy begin to hear again about crypto !
You get taxed on the gain that you make with crypto BUT the government hasnโt helped you to make all of the research, understanding of analysis and the risk that youโve taken.
So if you lose sorry for you but if you win you owe the government some money.
Donโt get me wrong the taxe code shouldnโt be removed but rearranged in some cases. The flat taxe being increased is even more outrageous because the bullrun is coming and they know a lot of you are going to make money off of it.
The electrical cost of a bitcoin since the cut of the rewards for miners is around 77.4k $, we coming from a bloody week because of the geopolitical conflict of the world but we seen a quite surprising up trend on the price after the halving event.
$BTC is currently trading at a big discount because price moving UNDER the electrical cost of a block typically last only a couple a days every 4 years before it surpass it.
The great and usual halving dip is about to happen in my opinion and based on the analysis that Iโve done.
Now the price decrease of $BTC should fly around 57 000 and 60 000$. This is probably the most raisonnable price target where to buy before it pump back up.
Now there is an eventuality that the Hong Kong ETF make the market sustain a little bit more on its current price and donโt fall that low to 57k BUT it doesnโt have a strong probability to occur.
To all the traders out there, please be careful with leverage itโs a very volatile time right now to trade donโt liquidate your position.
Big announcement for this AI narrative going forward. Be happy to be soon able to buy and hold one of the TOP 3 crypto in the AI sector ( in regards of market capโ) on #Binance .
This is a crypto with one of the biggest potential of the AI narrative. And this launch is probably going to make a pump on the priceโ . Be wary though this isnโt a financial advice and after a pump the correction follow.
Iโm not advising you to buy it if you arenโt interested in the AI narrative but if you do you may get informed about this token for further understanding of it.
I will post some info about this project soon stay toned.
Joe Biden have said that a rate cut is maybe not coming yet. The federal reserve chairman Jerome Powell kinda said the same thing 1 month ago at the last fed meeting.
Donโt worry $SOL holders, the congestion on the network isnโt abnormal it is totally fair in fact.
All the liquidity for the meme coin trading was on the Solana network ๐so it represent A LOT of transactions. Along with this massive volume of transactions there were some fraudulent transactions made by bots ๐คwithout good intentions.
To counter those bad individuals, the network decline transactions some time on spot but some time on you the good guy. It doesnโt mean you loose all your crypto, it just mean you paid a fraction of a percent from the amount you wanted to send, of gas fee, for nothing. You only have to do it again and it will be possible.
Those declines are there to secure the network and to be franc not every network would have endure as well those amount of volume of transactions.