Kategorie: Crypto Markets

The crypto market as a whole is bearish with most top 100 coins in the red at the time of writing. 

Top cryptos

Bitcoin shed almost 6% of its value in the last 24 hours, trading below $30,000. Ethereum is down around 7%. Binance Coin (BNB) lost 8.50% after Bloomberg reported the US Securities and Exchange Commission was probing its US affiliate. 

In addition, SEC is probing into whether Binance should have registered BNB with the watchdog when the ICO took place in 2017. Cardano and Solana also tumbled, the latter by as much as 10%. 

Cryptos outside the top 10 showed a similar tendency. Despite being listed by Europe’s biggest crypto exchange, Shiba Inu lost around 6% in the last 24 hours. UNUS SED LEO is the only top 20 coin in the green. It gained 2% today. 

Top movers

Outside the top 20, the tendency was similar, with most coins losing 4-8% of their value. Notable standouts include ICP, down 12%, AAVE and THORChain with 10%, and Axie Infinity and Neo with 11%. All are reversing recent gains.  

Gala is the only top 100 coin in the green. It is up 4% after Gala Games announced a partnership with Epic Games to launch Battle Royale game Grit on the Epic Games Store. The Galaverse, an important event for the ecosystem, entered its second day.  

Trending

The biggest winner today is CV SHOTS, whose token CVSHOT is up 289% in the last 24 hours. The platform was created to help companies and job seekers network. It aims to help business owners find qualified employees. 

The platform evolved into a significant job marketplace, connecting all kinds of companies with millions of job seekers.  

The post Highlights June 7: BNB declines on SEC probe, GALA only coin in the green appeared first on CoinJournal.

Ripple co-founder Jed McCaleb sold nearly 70 million XRP over the past two weeks, data from XRPscan shows.

According to the data, the “tacostand” wallet has sold 69.11 million XRP, with over 20 million of these hitting the market in the past six days. Overall, the latest selling started on 24 May, coinciding with a dip in the XRP price.

In total, he has sold over 5 billion of the total 9 billion XRP he received as Ripple co-founder. Meanwhile, the tacostand wallet address shows a balance of nearly 183 million XRP.

The ex-Ripple CTO, who exited the company in 2013, still owns more than 3 billion XRP in holdings periodically released to him by Ripple.  

XRP price

XRP traded around $0.39 on Monday, about 6.1% in the past two weeks. The XRP/USD pair briefly rallied to highs above $0.42 on 31 May, before retreating as the crypto market tanked. In the past 24 hours, the 7th ranked cryptocurrency has gained about 2%.

Predictions are that a win for Ripple against the US Securities and Exchange Commission (SEC) could spur positive price movement. But for now, XRP remains 88% off its all-time high of $3.40 reached on 7 January 2018.

McCaleb co-founded Stellar (XLM)

McCaleb is the co-founder of the Stellar (XLM) cryptocurrency, a Ripple rival in the cross-border payments sector. He also founded the defunct Mt. Gox, a Bitcoin exchange that shutdown following a major hack in 2014.

Forbes currently lists McCaleb as the 1414th wealthiest person in the world with a net worth of over $2.2 billion (as of 6 June 2022).

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The temporary disabling of the durable nonce transactions allowed for block production to resume after last Wednesday’s network four and half hour outage.

Solana has disabled the durable nonce transaction feature on its network to prevent future outages similar to what happened last week when it halted for over four hours.

What caused the latest outage?

According to Solana Labs, a runtime bug triggered a situation where failed durable nonce transactions were processed twice, leading to nondeterminism. In this case, validators counted the transaction at two different block heights, with 33% of the validators reportedly accepting the subsequent block to effectively halt the network.

The durable nonce transactions feature was disabled in the v1.9.28/v1.10.23 releases as part of the restart after the 1 June block production halt on the Mainnet Beta.

This, according to the team, will help ensure the network does not suffer a similar stall in consensus if in case of a bug.

“Durable nonce transactions will not process until the mitigation has been applied, and the feature re-activated in a forthcoming release,” the platform wrote in a blog post.

Solana is currently the ninth largest cryptocurrency platform with a market cap of over $14.5 billion. The native SOL coin trades around $42.55, more than 6% up in the past 24 hours.

The post Solana disables transaction feature to prevent future network outage appeared first on CoinJournal.

• USSD is the first over-collateralized decentralized stablecoin, with guaranteed minimum collateral ratio of 130%.

• The current collateral ratio is over 200% with nearly $1.4 billion worth of assets in the Tron DAO reserve account.

TRON-based decentralized stablecoin USDD has hit another milestone as it becomes the first overcollateralized decentralized stablecoin (OCDS) in the crypto industry.

A month since its launch on 5 May, USDD has experienced great organic growth as part of its Stablecoin 3.0 development, and this latest upgrade brings to users not only fast transactions, but also the highest collateral ratio within the market. 

This follows an upgrade that allows TRON DAO Reserve members to both mint USDD by burning TRX as well as consolidate the stablecoin’s stability and credibility via a mechanism that makes it possible to over-collateralize assets in the TRON DAO Reserve (TDR).

200% over-collateralized, nearly $1.4 billion in assets

Over-collateralized assets include Bitcoin (BTC), Tron (TRX), and top stablecoins such as Tether (USDT), USD Coin (USDC), TrueUSD (TUSD) and USDJ.

According to data on the Tron blockchain explorer TRONSCAN, USDD’s total circulating supply currently is just above 667 million. The guaranteed minimum collateral ratio for the tokens is at least 130%, putting it above the 120% for the DAI. 

The 130% minimum ratio means that every USDD token is backed by $1.3 worth of the above assets. Currently, the ratio is at over 200%, with more than $1.37 billion worth of different assets backing the USDD.

The reserve account holds 10,500 BTC, 240 million USDT, and 1.9 billion TRX. Other than that, a total of 8.29 billion TRX have been sent to the burning contract. 

The public can access the real-time collateral ratio for the stablecoin 24/7 on the TRON DAO Reserve’s website.

USDD growth after TerraUSD collapse

USDD is quickly gaining ground as the leading decentralized stablecoin, with circulation on the TRON network, Ethereum, and BNB Chain. The stablecoin is also used across several platforms including exchanges Poloniex, KuCoin, Huobi Global and Bybit. 

It’s also available on SUN.io, PancakeSwap, Uniswap, and Curve among decentralized finance (DeFi) platforms.

However, the market’s confidence in algorithmic stablecoins wavered following the dramatic collapse of TerraUSD (USD). The stablecoin, which was backed by over 80,000 BTC among other assets, tanked and crashed the LUNA price along with it. 

But TRON founder Justin Sun says USDD is designed to be better than UST and that it is “spearheading the Stablecoin 3.0 era.” According to him, the upgrade adds features that underpin the stablecoin’s stability.

He added”

“The $10 billion reserves pledged by the TDR will enable USDD to become the most reliable decentralized stablecoin with the highest collateral ratio in blockchain history. Currently, the 200%+ collateral ratio offers USDD a very strong safety net.”

The post TRON upgrades USDD in the aftermath of TerraUSD collapse appeared first on CoinJournal.

The crypto market is in full swing with most top 100 coins in the green at the time of writing. 

Top cryptos

Major cryptos had a strong day with Cardano gaining more than 13%, Avalanche adding more than 9%, Solana up more than 8%, followed by Ethereum which jumped more than 4%. 

Bitcoin was trading above $31,000 at time of writing, up around 5% over the past 24 hours. Cardano is rising as the Vasil Hard Fork Upgrade approaches. It is expected to improve the blockchain’s scalability and performance significantly. 

Top movers

Outside the top 20, the bullish tendency was also in effect, with most coins adding up to 7% to their value. 

Notable standouts include Tezos and eCash, each up 12%, Theta Network and Helium with gains of 13%, THORChain and PancakeSwap with gains of 10%, and Neo, up 11%.   

Theta is likely rising on news of Metapass, the first permissionless, decentralized NFT ticketing platform it is powering. Helium announced that community voting for HIP 51 closes tomorrow, June 7. People can vote for or against evolving the blockchain to “a network of networks in time.” 

Tezos announced free tickets to the Tezos x WeAreDevs World Congress 2022. The biggest winner of the week is Waves, up 55% in the last 7 days. 

No top 100 coins are in the red today, but there have been some losers this week. STEPN leads this category with losses of 14%, followed by Convex Finance with 13% and XDC Network with 12%. STEPN’s GMT token is still reeling from its China ban.  

Trending

The biggest winner today is Bee Inu (BEEINU), a community driven project with a real use case running on Binance Smart Chain. This case involves programming with a myriad of free videos for those who want to learn it. 

Bee Inu is a community coding education site, targeting younger people. They claim to have tools that make programming fun and easy. Today, BEEINU is up 679%.  

The post Highlights June 6: Cryptos in the green, Cardano soars appeared first on CoinJournal.