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Ripple Venturing Big on NFT’S! $2Million Granted to Promote NFT

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RippleX, Ripple’s division dedicated to accelerating the development of innovations centered on the XRP Ledger, just announced its first batch of XRPL grants, demonstrating its commitment to the NFT craze.

The program will provide funding to developers working on XRP-based projects. The creation of non-fungible tokens [NFTs] was the focus of the most recent funding. RippleX selected 25 applications from ten countries and granted them $2 million, according to a release.

The blog read,

“In this wave, more than 100 grant proposals were submitted, and from this incredible batch of applicants, 25 grantees have been awarded nearly $2 million in total value.”

Some of the chosen projects are as follows :

  • Aquarelle: The goal of this project is to create a metaverse based on the XRP Ledger. To present and interact with NFTs, the project aims to establish an open-source NFT framework, a web-based NFT marketplace, and a WebGL 3D virtual gallery.
  • Anchain. Integration of AI – CISOTM for the XRPL: The goal of this project is to leverage NFTs in cybersecurity to create artificial intelligence that governments can use for compliance solutions. The headquarters of AnChain are in the United States.
  • Bithompt- an XRPL explorer and toolkit that will soon be modified to support NFTs. Bithomp is a town in the Swedish province of Sweeden.
  • Interop CryptoIso20022: A startup aiming to automate the conversion of fiat to crypto payments. It is situated in the country of Switzerland.

It’s worth noting that this isn’t the first time Ripple has concentrated on NFTs. It has long recognized the value of NFTs and has worked to integrate them into the XRP ledger.

RippleX proposed new features in May in order to improve NFT compatibility on the XRPL. XRPL might also incentivize developers to create more viable NFT apps and marketplaces, according to the team.

Disclaimer : The opinion expressed here is not investment advice – it is provided for informational purposes only. It does not necessarily reflect the opinion of Coinpedia. Every investment and trading involves risk, so you should always perform your own research prior to making decisions. We do not recommend investing money you cannot afford to lose.

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Source: https://coinpedia.org/non-fungible-token-nft/ripple-venturing-big-on-nft-2million-granted-to-promote-nft/

Coinpedia

The First Existing Altcoin, Litecoin Price Could End Accumulation Very Soon, Here’s Why!

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Way back in 2009 Bitcoin became the first cryptocurrency in the market. Later within a couple of years, yet another asset incepted its presence. And from this coin, the concept of alternative coins or ALTCOINs emerged and laid their roots much stronger compared to Bitcoin. 

So which is the first altcoin still in existence! Not Ethereum, It was Litecoin or LTC, the Lite version of Bitcoin, which began its journey on October 13, 2011. Very soon, the asset will complete its 10-year long trading history and the community seems to be much excited about the achievement. The creator of Litecoin, Charlie Lee recently shared a thread on his experience of the Litecoin journey. 

The Litecoin price despite being among the primitive crypto assets, yet is said to be heavily undervalued. As the other assets like Bitcoin, Ethereum, etc had a gigantic rally, Litecoin is currently struggling hard to hit $200. And hence many believe the asset may have been kept aloof from the mainstream. 

Also Read: Ethereum Picks up Pace! ETH Price to Hit $30k by May 2022, Here’s how

Litecoin Price Analysis, Will LTC Price Break $200 Today?

Litecoin price was comfortably following an uptrend which levelled up the price above $220. However as the China FUD circulated within the space, the asset declined drastically but held strong above $160. Since then the asset is consolidating heavily and also faced a downtrend a couple of times. Yet the trade reversed with the beginning of the current month which uplifted the price from $140 to as high as $185. 

ltcprice
Source: Tradingview

The LTC price is following a healthy uptrend since the beginning of October 2021. While marching ahead of the crucial resistance zone in between $187 to $189, the asset faced a rejection, however, it’s already retraced by bouncing off the uptrend line. And hence the primitive altcoin needs to pierce through the resistance zone so that the path towards $200 could be easily achievable. 

Collectively, compared to the Bitcoin & Ethereum price which are above $50,000 and $3000 respectively, Litecoin price is extremely undervalued. Yet in the upcoming days with more advancement and wider adoption, LTC price could range high. And also give a pretty tough fight for the other popular altcoins in the crypto space. 

Also Read: XRP and ADA Are Fading Among Emerging Coins!

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Source: https://coinpedia.org/price-analysis/litecoin-price-could-end-accumulaion-very-soon-heres-why/

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Coinpedia

Shiba Inu Is Inching Closer to Top 10 Crypto-List! Are Meme Coins The Future?

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Although Shiba Inu is considered to be a meme coin. The canine-based coin has left several coins behind in the market. Outperforming several potential cryptos in the space. The growth rate is astonishing for investors and traders. Yet it does seem realistic, considering the catalysts that are nurturing the coin’s growth.

SHIB Price to the Moon!

   SHIB is running ahead in terms of market rankings. The coin at press time values at $0.00002989 with gains of ~32.4%. The market cap now is hovering around ~ $14 billion, which is up by over $6 billion since CoinPedia last reported. Which was just several hours ago. SHIB is now the 12th largest crypto by market cap at the press time.

The surge of SHIB is ~8000% in the last year and a 300% rally in a week. It is shy of just 18% to hit its ATH. Consecutively, netizens are hopeful that Shib will no longer be the “Doge Killer”. As going with the stats, it might possibly dethrone DOGE shortly. 

Also Read : US Deflation Ahead!! Analyst Urges to Liquidate Bitcoin In Next Six Months!

Traders Watch Out!

Shiba Inu has been receiving tremendous responses from enthusiasts. The coin’s debut on CoinBase global’s crypto exchange has pumped the coin significantly. Shib burn is acting as a major catalyst in its rally. $25,000 tokens burn has already taken place as of August 8th, 2021. Moreover, the Shib army is ever-growing, and the community is overwhelming. Shib hits 1 million followers on one of its public platforms. And it has crossed the milestone of 700,000 SHIB holders.

 It is worth mentioning that Shiba Inu might rhyme the trend of Doge, if not follow. Hence, it is advisable to keep a keen eye on both coins. On the contrary, SHIB developers have a hawk’s eye, in keeping the supply under control. Which is directly proportional to the value of the coin.

Summing up, while still many are hesitant on SHIB owing to price swings. Hodler’s are aiming at the coin eliminating two more zeroes, which does seem a tad more optimistic. But it does seem possible from the current stats. However, it is advisable, to hold SHIB as an inflation hedge to the inflation-ridden economy we live in.

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Source: https://coinpedia.org/altcoin/shiba-inu-is-inching-closer-to-top-10-crypto-list/

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Coinpedia

Warning!! Final Bitcoin Crash Awaits Before the Breakout? ADA, XTZ, XLR to Moon?

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Expectations and predictions are sky-high for the October cryptocurrency bull market. Regaining the price momentum Bitcoin and other major altcoins have had massive gains since the start of the month. Notably, SHIB price surged by 375% within just 3 days. Now with Bitcoin price, many other altcoins are on the verge to smash new ATH. However, there seems to be a danger before we begin with an actual bull run.

Is It Bull Market or Bear Market?

Bitcoin price is heading towards a crucial resistance level at $57k and with an increase in its dominance, the asset left behind the major altcoins. Addressing the same, popular crypto analyst Micheal Van de Poppe mystified the crowd with his question. He interrogated the crowd by asking whether is it a bull market or bear.

However, Bitcoin might see another dip before the major breakout as the global leverage ratio is at its peak. And short-liquidation is another challenge!

Tackling the Game of Bitcoin Liquidations!!

As per the analytics of the tradings, the Global leverage ratio of Bitcoin is at the strong rebound phase. At the same time, the market is getting greedy and leveraged to the upside. Traders are trying to liquidate their Bitcoin at a higher price. In the last two months, such large liquidations resulted in a BTC price dump to $40k. Reports of ByBt on October 6th revealed that $186.06 million Short liquidations a few hours ago from Bitcoin price rose to $55,555.

Image

On the extreme bullish note, the same day someone accumulated $1.6 billion bitcoin via market orders showing huge confidence in the value of an asset. 

However, the most dominant asset would again drop to a major support zone between $42k to $45k if it faces rejection at $57k. In addition, massive short liquidations with price spikes may further collapse the value of an asset. Hence, calculative risks needed to be taken before betting at a higher price. 

On the other hand, as Coinpedia reported earlier Bitcoin dominance could play a pivotal role in pushing altseason. At the press time dominance is at 43, if it drops well below 40 then expect a massive bull run of major assets like Cardano, Solana, Tezos, and other altcoins.

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Source: https://coinpedia.org/altcoin/bitcoin-crash-awaits-before-the-breakout-ada-xtz-xlr-to-moon/

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Coinpedia

Bitcoin Price: A Huge Run up for BTC Price On Horizon!

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Bitcoin prices soared to their highest levels in months in just a few hours on Wednesday, adding to weeks of modest gains amid a flurry of positive developments for the recently struggling market, with U.S. Bank and Bank of America among the most recent legacy financial institutions to embrace the space.

Bitcoin price soared 10% to more than $55,000 at 12:30 p.m. on Wednesday, achieving its highest level in over five months and helping its market capitalization surpass $1 trillion for the first time since May.

Bitcoin Greed 2.0

Tuur Demeester, an investor and analyst who wrote the game-changing report “The Bitcoin Reformation,” provides his thoughts on the current BTC price rise.

According to Mr. Demeester’s charts, the Bitcoin (BTC) supply has returned to the “Greed” zone. He means “greed” when he says that more than 55% of Bitcoins are held with unrealized (“paper”) earnings.

The previous long-term voyage to this “Greed” zone resulted in a 200 percent increase in the price of Bitcoin (BTC), driven by both individuals and institutional investors.

It lasted 196 days until being superseded in May by an “uncertain” phase of “Optimism/Denial.” Mr. Demeester claims that the “cooling-off” period will soon be over.

Bitcoin (BTC) fell into the “Capitulation” zone after “Black Friday” in March 2020, and hasn’t returned since.

Mr. Demeester further noted that the two most recent bull runs (in 2013 and 2017) each had two waves. As a result, Bitcoin’s (BTC) surge to $65,000 in May is most likely the initial stage of this rally. 

Alternative’s “Fear and Greed” index for Bitcoin is up for the third day in a row. It entered the “Greed” zone yesterday and is presently rated at 68/100.

Also Read : US Deflation Ahead!! Analyst Urges to Liquidate Bitcoin In Next Six Months!

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Source: https://coinpedia.org/bitcoin/a-huge-run-up-for-btc-price-on-horizon/

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