Monat: April 2024

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Ripple partners with SBI Group and HashKey DX for XRPL solutions in Japan

  • Ripple partners with SBI Group & HashKey DX to introduce XRPL solutions in Japan.
  • HashKey DX to leverage XRPL’s features for innovative blockchain solutions in Japan.
  • SBI Group to pioneer the use of XRPL technology in supply chain management in Japan.

Ripple has forged a groundbreaking alliance with SBI Group and HashKey DX to bring innovative blockchain solutions to the Japanese market.

This collaboration marks a significant milestone in the adoption of XRP Ledger (XRPL) technology in Japan’s corporate landscape.

HashKey DX to introduce XRPL to Japanese businesses

Recognizing XRPL’s enterprise capabilities such as fast settlement speeds, low costs, and scalability, HashKey DX is poised to introduce innovative blockchain solutions to Japanese businesses.

With a track record of success in implementing blockchain-powered supply chain finance solutions in China, HashKey DX brings invaluable expertise to the table.

Over the past years, HashKey Group has facilitated over $7 billion in trade transactions and financed nearly $3 billion in China through its blockchain platform. Now, with Ripple’s partnership, they aim to replicate this success in Japan.

Andy Dan, the head of HashKey DX, expressed confidence in their ability to drive transformation and deliver cutting-edge solutions tailored to the needs of Japanese enterprises.

SBI Group to use XRPL in supply chain management

SBI Group, a prominent Japanese corporation, is set to pioneer the use of the introduced XRPL enterprise blockchain solutions in supply chain management.

Following the partnership, SBI Group and HashKey DX are poised to revolutionize supply chain finance in Japan leveraging XRPL’s proven track record for enterprise use.

RippleX tokenized market outlook

Besides the SBI Group and HashKey DX partnership, RippleX is actively engaged in discussions with financial institutions, exploring opportunities for asset tokenization on the XRP Ledger and

Markus Infanger, the senior vice president of RippleX, envisions a promising future for tokenized markets.

With traditional finance players increasingly embracing blockchain networks like XRPL, Stellar, and Ethereum, Infanger predicts the total value of tokenized markets could exceed $16 trillion.

Infanger emphasizes that the adoption of blockchain technology is not limited to permissioned, centralized networks but extends to decentralized protocols like XRPL. These discussions with financial institutions indicate a growing interest in leveraging blockchain for real-world applications beyond traditional banking systems.

The post Ripple partners with SBI Group and HashKey DX for XRPL solutions in Japan appeared first on CoinJournal.

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Crypto fear and greed index slips as the BitBot raises $3M

A sense of fear is creeping up in the cryptocurrency market as investors focused on the upcoming Federal Reserve decision. The closely-watched crypto fear and greed index has crashed from the extreme greed zone of over 80 to the neutral phase of 58. 

This price action happened as the price of Bitcoin remained in a tight range between $70,000 and $60,000 and other altcoins like Solana, Avalanche (AVAX), and Cronos (CRO) have all plunged hard recently. Still, there are some positive signs, with BitBot raising over $3 million in its token sale.

Federal Reserve decision ahead

Bitcoin and other altcoins have retreated sharply ahead of this week’s interest rate decision. Economists expect that the bank will continue with its hawkish tone in this meeting since inflation has remained stubbornly high.

Data released this month revealed that the headline Consumer Price Index (CPI) rose to 3.5% in March while core CPI jumped to 3.8%. A separate report released last week showed that the Personal Consumption Expenditure (PCE) rose to 2.5% while core PCE jumped to 2.8%.

These numbers mean that inflation has remained stubbornly high and is above the Federal Reserve’s target of 2.0%. There are signs that inflation will remain higher for longer now that the price of crude oil and industrial metals continued rising.

Further, the prices of key services like rent and insurance have continued to rise in the past few months. Therefore, there is a likelihood that the Federal Reserve will point to higher rates for longer. 

In most cases, risky assets like Bitcoin, Solana, and Avalanche tend to retreat when the Fed has embraced a hawkish tone. For one, such tone, when other central banks are thinking of cutting interest rates, will push to a higher US dollar. 

BitBot token sale continues

Meanwhile, BitBot has continued its token sale, raising over $3 million, signaling that there is strong demand for newer coins. 

BitBot is a platform that seeks to disrupt the trading and investing industry. It is building a trading bot that will help traders profitably execute trades. BitBot’s technology is based on technical analysis and artificial intelligence (AI).

The bot will be distributed in Telegram, an app that is used by more than 900 million users a month. This is a big industry that is growing at a fast pace as it has helped to facilitate over $19 billion in trades. These trades have led to over $100 million in revenues for their developers.

BitBot aims to solve some of the top challenges in the trading bot market. In the first place, the developers aim to make it more profitable than other bots in the market by using artificial intelligence and other technologies. 

It also aims to be faster than other bots by leveraging its custom RPC node and institutional infrastructure. The network also ensures strong security features by being non-custodial. You can buy the BitBot token here.

The post Crypto fear and greed index slips as the BitBot raises $3M appeared first on CoinJournal.

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Dogwifhat (WIF) massive pump on Bybit after listing causes market frenzy

  • Dogwifhat (WIF) was listed on Bybit crypto exchange today.
  • Immediately after listing the meme coin’s price hit $41.85 before quickly retracing.
  • At press time, Dogwifhat (WIF) was trading at $2.61, down 6.13% in the past 24 hours.

Dogwifhat (WIF), the latest sensation in the world of meme coins, caused a frenzy on the Bybit exchange shortly after its listing.

Within minutes of trading going live, the price of Dogwifhat skyrocketed by a staggering 1,450%, reaching a high of $41.85. The surge was, however, short-lived as the price quickly retreated back to $2.64, aligning with the token’s price across the broader market.

Dogwifhat explosive surge first day on Bybit

Dogwifhat (WIF) trading on Bybit commenced at 8:50 a.m. ET on Bybit and in just over 10 minutes, the token’s price surged from $2.70 to its peak of $41.85, marking an extraordinary spike.

WIF price pumps and dumps on Bybit

Interestingly, the sudden price increase was confined solely to Bybit, with no notable impact on other major exchanges like Binance.

CoinGecko data reveals that Binance facilitates a significant portion of Dogwifhat’s trading volume, yet its price remained unaffected by the Bybit surge.

The Dogwifhat (WIF) meme coin sensation

Dogwifhat, adorned with the image of a dog donning a hat, quickly gained traction amid the recent memecoin trading frenzy.

Notable traders and influencers, including Hsaka and Ansem, threw their support behind Dogwifhat, contributing to its popularity.

Moreover, the coin’s community rallied to raise $700,000 to showcase Dogwifhat’s image on the iconic Las Vegas sphere for a week, although the execution of this plan remains uncertain.

With its brief but monumental surge on Bybit, Dogwifhat (WIF) continues to captivate the attention of crypto enthusiasts and meme coin aficionados alike.

However, despite its transient glory on Bybit, the coin’s journey in the volatile world of cryptocurrencies remains unpredictable, leaving investors and supporters eagerly anticipating its next move.

The post Dogwifhat (WIF) massive pump on Bybit after listing causes market frenzy appeared first on CoinJournal.

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EigenLayer announces token launch and airdrop for the community

  • EigenLayer’s token EIGEN will launch in May, with a total supply of 1.67 billion tokens.
  • The Eigen Foundation has announced an airdrop for the community, set for May.

The Eigen Foundation, the non-profit supporting the development of restaking protocol EigenLayer, has announced the launch and distribution of the native token EIGEN.

Alongside the announcement for the token, the foundation and the Eigen Labs team unveiled the EigenLayer whitepaper. The project, which attracted investment from Binance Labs and a16z early this year, has seen tremendous growth in terms of staked Ether (ETH).

EIGEN token launch and airdrop

According to today’s announcement, the Eigen Foundation will launch the EIGEN token in May. An airdrop for the community of stakers on EigenLayer will also go live.

The new token is set at a total supply of 1.67 billion, with 45% of the EIGEN tokens allocated to the community.

Per the details in a blog post summarizing the distribution, 15% of supply will go to stakedrops, another 15% set aside for community initiatives and a similar amount (15%) allocated to the EigenLayer ecosystem development.

The EIGEN airdrop Season 1 will see the community get a chance to grab a share of 5% of the token supply. This allocation goes to stakedrop participants captured in a snapshot taken on March 15, 2024. Claims for this airdrop begin on May 10, with 90% of the tokens claimable for up to 120 days.

The next batch, which is the remaining 10%, will go live will 30 days after the first phase claim window ends.

Meanwhile, the Eigen Foundation has earmarked 29.5% of supply for investors and 25.5% for early contributors.

Allocations to investors and early contributors face a 3-year crypto vesting period, with total lockup in year 1. The next two years will include an unlock rate of 4% per month.

The post EigenLayer announces token launch and airdrop for the community appeared first on CoinJournal.