XRP to $4 next? SBF’s parents seek Trump pardon, and more: Hodler’s Digest, Jan. 26 – Feb. 1

XRP to $4 next? SBF’s parents seek Trump pardon, and more: Hodler’s Digest, Jan. 26 – Feb. 1

Binance claims no special relationship with Hamas, argues to dismiss lawsuit

A federal judge has not yet issued a ruling on a motion to dismiss a lawsuit, filed by families of victims affected by the 2023 Hamas attack on Israel, against cryptocurrency exchange Binance and its former CEO, Changpeng CZ Zhao.

On Jan. 30 in the US District Court for the Southern District of New York, lawyers representing Binance presented oral arguments in connection with the companys motion to dismiss the families complaint filed in January 2024. According to reporting from Inner City Press, the exchanges legal team argued crypto was not inherently dangerous, pushing back against allegations that Binance facilitated transactions benefiting Hamas.

There was no special relationship between Hamas and Binance, said a lawyer for the exchange.

Kraken restores staking services in US after 2-year hiatus

Crypto exchange Kraken has resumed staking services for US clients for the first time in nearly two years. Customers ability to stake had been paused since 2023, when the exchange reached a multimillion-dollar settlement with the US Securities and Exchange Commission over the services.

Customers in 37 US states will now be able to access staking services for 17 digital assets, including Ether, SOL, and Cardano’s ADA.

Kraken was among the first crypto exchanges to provide staking services to customers, which it began offering in 2019. The exchange agreed to stop providing the services in February 2023 as part of a $30 million settlement with the SEC.

SBFs parents seek pardon from President Trump: Report

The parents of former FTX CEO Sam SBF Bankman-Fried are reportedly exploring the possibility of a presidential pardon for their son, who was sentenced to 25 years in prison last March.

According to a Jan. 30 Bloomberg report citing anonymous sources, Bankman-Frieds parents have already met with lawyers and other figures close to the Trump administration to determine whether clemency was possible.

Once considered to be the golden child of crypto, Bankman-Frieds house of cards fell apart in late 2022 when FTX couldnt fulfill customer withdrawals. The exchange collapsed in a matter of days, revealing a business built on fraud, embezzlement and misuse of customer funds.

Elon Musks dad plans $200M raise with Musk It memecoin

Elon Musks father may be the next influential figure to raise funds through a memecoin amid growing interest in celebrity-backed meme tokens.

Retail investor interest returned to memecoins after President Donald Trump launched the Official Trump memecoin on Jan. 18 and the Official Melania Meme token on Jan. 19 on the Solana network

Joining the ranks, Elon Musks father, Errol Musk, is reportedly looking to launch his own memecoin token project called Musk It.

Musks father hopes to raise as much as $200 million from the memecoin project, which he plans to use to support a for-profit think tank called the Musk Institute, he told Fortune.

MicroStrategy announces pricing of strike preferred stock offering

MicroStrategy announced the pricing of its perpetual strike preferred stock offering at a public listing price of $80 per share and will issue the corporate securities on Feb. 5.

The company forecasts $563.4 million in revenue from the tranche of perpetual strike preferred stock, which features an 8% coupon and a liquidation value of $100.

According to the announcement, the proceeds from the sale will go toward acquiring more Bitcoin and covering operating expenses.

MicroStrategy continues to lean into its 21/21 plan of issuing $21 billion in equity and $21 billion in fixed-income securities to finance Bitcoin acquisitions, and it has become the most prominent BTC-holding firm.

Winners and Losers

At the end of the week, Bitcoin (BTC) is at $102,408, Ether (ETH) at $3,311 and XRP at $3.05. The total market cap is at $3.52 trillion, according to CoinMarketCap.

Among the biggest 100 cryptocurrencies, the top three altcoin gainers of the week are Onyxcoin (XCN) at 63.67%, MANTRA (OM) at 49.60% and Jupiter (JUP) at 24.35%.

The top three altcoin losers of the week are Pudgy Penguins (PENGU) at 36.44%, Fartcoin (FARTCOIN) at 27.96% and Official Melania Meme (MELANIA) at 21.31%. For more info on crypto prices, make sure to read Cointelegraphs market analysis.

Most Memorable Quotations

Bit of a nothing burger FOMC press conference. Not dovish, not hawkish. Walking a very diplomatic line, and I think the market was expecting Powell to be more vocal about Fed independence.

Huf Haus, founder of Pear Protocol and former TradFi trader

I think were moving past what truly felt like an unlawful war on crypto.

Brad Garlinghouse, CEO of Ripple Labs

I’m not so sure Musk It will hit the heights some Trump family memecoins have reached. It feels like Elon’s personal stamp is what really gets people excited about these projects.

Anndy Lian, author and intergovernmental blockchain expert

This could mean that Bitcoin still has room for further upside, but traders should closely monitor the ratio of young coins to long-term holdings for potential warning signs of a top.

CryptoQuant

This is a perfect example of the contrasting behaviors between whales and retail traders and it is often considered a better choice to follow whales rather than retail investors.”

Darkfost, pseudonymous CryptoQuant contributor

Bitcoin’s price is less a standalone reflection of its market fundamentals and more tied to broader macroeconomic shifts, particularly in risk sentiment.

Bitfinex analysts

Prediction of The Week

XRPs 50% rally outperforms crypto market in January Is $4 the next stop?

The XRP token staged an impressive 50% rally throughout January, outperforming the wider cryptocurrency market. Technical chart patterns are now targeting a longer-term breakout above $4 in the future.

XRP rose over 50% during the past month, outperforming Bitcoins 13% rally and Ethers near 4% decline, Cointelegraph Markets Pro data shows.

Read also Features Sweden: The Death of Money? Features 11 critical moments in Ethereums history that made it the No.2 blockchain

XRP token decoupled from the rest of the market due to positive regulatory developments for Ripple Labs, which received approval for its RLUSD stablecoin from the New York Department of Financial Services on Dec. 10.

Another reason behind XRPs price surge is its increased adoption by financial institutions, according to Santiment. The crypto intelligence firm wrote in a Jan. 29 post:

XRP has recently been recognized by more major financial institutions and its integration into various payment systems has bolstered investor confidence.

XRPs price may be setting up for a breakout above $4 before the end of February, according to emerging technical patterns shared by popular crypto analyst Dark Defender.

XRP is pending confirmation on 4-hour and 1-day time frames for the breakout. The short-term target is $4 with Sub-Wave 5, and the Support is $3.07,” Dark Defender said.

FUD of The Week

Tether disappointed with rushed actions on MiCA-driven USDT delisting in Europe

Stablecoin operator Tether addressed European cryptocurrency regulations amid exchanges like Crypto.com preparing to delist its USDt stablecoin in Europe tomorrow.

Tether expressed disappointment over market developments in Europe amid changes triggered by the enforcement of the European Unions Markets in Crypto-Assets (MiCA) framework.

Crypto.com, a global crypto exchange, confirmed on Jan. 29 that it will start delisting Tethers USDt stablecoin and nine other tokens on Jan. 31 to comply with MiCA regulations.

It is disappointing to see the rushed actions brought on by statements which do little to clarify the basis for such moves, a spokesperson for Tether told Cointelegraph.

China convicts BKEX staff for illegal gambling via crypto contracts

A Chinese court ruled that cryptocurrency exchange BKEX engaged in illegal gambling through its contract trading platform and sentenced several employees and agents to prison for their roles in the operation.

The Peoples Court of Pingjiang County, Hunan Province, determined on Jan. 29 that BKEXs contract transactions functioned as a form of online gambling, and those involved were accomplices in the crime of opening a casino.

According to the ruling, BKEX allowed users to place bets using USDt, a stablecoin pegged to the US dollar, and apply high leverage up to 1,000x in some cases to wager on the price movements of Bitcoin, Ether and other cryptocurrencies.

Gemini wont hire MIT grads unless university drops ex-SEC chair Gensler

Crypto exchange Gemini wont be hiring any graduates from the Massachusetts Institute of Technology unless the university drops former US Securities and Exchange Commission Chair Gary Gensler from his teaching role.

Read also Features NFT collapse and monster egos feature in new Murakami exhibition Features Banking The Unbanked? How I Taught A Total Stranger In Kenya About Bitcoin

As long as MIT has any association with Gary Gensler, Gemini will not hire any graduates from this school, Gemini co-founder and CEO Tyler Winklevoss said in a Jan. 30 post on X. He added the crypto exchange also wouldnt hire interns for its summer internship program.

Gemini has sparred with the SEC since January 2023 after the agency sued the firm alongside Genesis, accusing them of selling unregistered securities through the Gemini Earn program. Genesis paid $21 million in fines in March 2024 to settle the claims.

Top Magazine Stories of The Week

Korean exchange users surge 450%, Metaplanet buying 21K Bitcoin: Asia Express

Metaplanet aims to buy 21,000 Bitcoin by 2026, DeepSeek spooks Bitcoin, Korean users surge after Trump victory.

9 curious things about DeepSeek R1: AI Eye

The real story behind DeepSeek … or at least a bunch of interesting stuff we found out about it online.

Pectra hard fork explained Will it get Ethereum back on track?

Confused by all the technical jargon used by devs to explain Ethereums Pectra hard fork? Weve translated the upgrades into English for ordinary people.

 

Source: https://in.tradingview.com/news/cointelegraph:f1ae3faf3094b:0-xrp-to-4-next-sbf-s-parents-seek-trump-pardon-and-more-hodler-s-digest-jan-26-feb-1/

 

Anndy Lian is an early blockchain adopter and experienced serial entrepreneur who is known for his work in the government sector. He is a best selling book author- “NFT: From Zero to Hero” and “Blockchain Revolution 2030”.

Currently, he is appointed as the Chief Digital Advisor at Mongolia Productivity Organization, championing national digitization. Prior to his current appointments, he was the Chairman of BigONE Exchange, a global top 30 ranked crypto spot exchange and was also the Advisory Board Member for Hyundai DAC, the blockchain arm of South Korea’s largest car manufacturer Hyundai Motor Group. Lian played a pivotal role as the Blockchain Advisor for Asian Productivity Organisation (APO), an intergovernmental organization committed to improving productivity in the Asia-Pacific region.

An avid supporter of incubating start-ups, Anndy has also been a private investor for the past eight years. With a growth investment mindset, Anndy strategically demonstrates this in the companies he chooses to be involved with. He believes that what he is doing through blockchain technology currently will revolutionise and redefine traditional businesses. He also believes that the blockchain industry has to be “redecentralised”.

j j j

Price analysis 1/20: SPX, DXY, BTC, TRUMP, ETH, XRP, BNB, SOL, DOGE, ADA, LINK

Price analysis 1/20: SPX, DXY, BTC, TRUMP, ETH, XRP, BNB, SOL, DOGE, ADA, LINK

Bitcoin BTCUSD hit a new all-time high above $109,500 on Jan. 20, after the odds for a strategic Bitcoin reserve skyrocketed to 69% on DeFi betting market Polymarket.

The newly launched Trump family-related memecoins, Official Trump (TRUMP) and Official Melania (MELANIA), have also seen massive interest from the cryptocurrency trading community. Intergovernmental blockchain expert and author Anndy Lian told Cointelegraph that the memecoin launches will usher in a “new era for memecoins and altcoins.”

Euphoric times offer several trading opportunities, but they come with a risk. Vertical rallies are generally non-sustainable and are followed by sharp pullbacks. The deep pullback in TRUMP and Solana’s (SOL) volatility suggests that traders should exercise caution.

Can Bitcoin recapture its all-time high and trigger buying in altcoins? Let’s analyze the charts to find out.

S&P 500 Index price analysis

The S&P 500 Index (SPX) reversed strongly last week and broke above the moving averages, indicating that the break below 5,853 on Jan. 10 may have been a bear trap.

The 20-day exponential moving average (5,934) has flattened out, and the relative strength index (RSI) has risen into positive territory, suggesting a balance between supply and demand. Sellers are expected to fiercely defend the zone between 6,050 and 6,100.

If the price turns down from the overhead zone, the index may form a range between 6,050 and 5,853. The next trending move is expected to begin on a break above 6,100 or below 5,773.

US Dollar Index price analysis

The US Dollar Index once again took support at the 20-day EMA (108.62) on Jan. 15, indicating that every minor dip is being purchased.

The RSI is showing signs of forming a negative divergence, suggesting that the bullish momentum is weakening. Sellers will have to yank the price below the 20-day EMA to open the doors for a deeper fall to 108 and then to the 50-day SMA (107.32).

Contrarily, a break and close above 110.17 will signal the continuation of the uptrend. The index could rally to 113.14 and eventually to 114.77. Buyers may find it challenging to clear the 114.77 hurdle.

Bitcoin price analysis

Bitcoin rebounded off the 20-day EMA ($99,257) on Jan. 20 and skyrocketed to a new all-time high of $109,588.

If buyers maintain the price above $108,353, it will suggest the start of the next leg of the uptrend. The bulls will then try to thrust the price toward $126,706.

On the contrary, if the price fails to sustain above $108,353, it will suggest that the bears are fiercely defending the level. Sellers will have to pull the price below the moving averages to weaken the bullish momentum. The BTCUSDT pair could then consolidate between $109,588 and $90,000 for a few days.

Official Trump price analysis 

Due to the enormous popularity and volatility of the TRUMP memecoin, Cointelegraph is providing short-term analysis. A 30-minute chart has been used since there is little price history to look to for deeper insights.

The TRUMPUSDT pair has dipped below the symmetrical triangle pattern, signaling that the bulls are losing their grip. If the price maintains below the uptrend line, the pair could tumble to $38. This is a critical level to watch out for in the near term because a break below it may sink the pair to $24.

On the contrary, a strong bounce off the current level will suggest buying at lower levels. The bulls will then try to push the pair back into the triangle. Buyers will be back in command on a close above the downtrend line.

Ether price analysis

Ether (ETH) bulls are defending the neckline of the head-and-shoulders pattern but are facing selling near the 50-day SMA ($3,537).

The downsloping 20-day EMA ($3,362) and the RSI near the midpoint indicate a slight edge to the bears. A break and close below $3,125 could accelerate selling, pulling the ETHUSDT pair toward $2,850.

Buyers will have to push and maintain the price above the 50-day SMA to indicate that the selling pressure is reducing. The pair could then rally to $3,745, which is likely to behave as a stiff hurdle.

XRP price analysis

XRP (XRP) bounced off the breakout level of $2.91 on Jan. 20, indicating that the bulls are trying to flip the level into support.

The XRPUSDT pair is likely to pick up momentum after buyers push and sustain the price above the $3.40 overhead resistance. That could start the next leg of the uptrend toward the pattern target of $4.84.

The first sign of weakness will be a break and close below the 20-day EMA ($2.75). The pair may then sink to the 50-day SMA ($2.46). This is an important level to watch out for because a drop below the 50-day SMA could start a decline to $2.

BNB price analysis

BNB (BNB) has been trading between the uptrend line and the overhead resistance at $745 for the past few days.

The flattish moving averages and the RSI just below the midpoint do not give a clear advantage either to the bulls or the bears. If the price rises above the moving averages, the BNBUSDT pair will again attempt to rally above $745. If that happens, the pair could surge to $794.

Contrarily, a break and close below the uptrend line will signal that the bulls are closing their positions. That could sink the pair to the $635 support, which is likely to attract solid buying by the bulls.

Solana price analysis

Solana has been hugely volatile for the past two days, indicating an intense battle between the bulls and the bears.

The upsloping 20-day EMA ($214) and the RSI near the overbought zone suggest that buyers are in command. A close above $260 improves the prospects of a retest of the all-time high at $295. If this level is scaled, the SOLUSDT pair may surge to $300 and eventually $375.

Contrary to this assumption, if the price turns down and breaks below $229, it will signal that the bulls are rushing to the exit. The pair may then drop to the 20-day EMA. A deep correction is likely to delay the start of the next leg of the uptrend.

Dogecoin price analysis

Dogecoin (DOGE) has been rising inside an ascending channel pattern for the past few days, indicating buying on dips and selling on rallies.

The 20-day EMA ($0.36) is flattening out, and the RSI is near the midpoint, signaling a balance between supply and demand. If the price dips below the channel, the DOGEUSDT pair could slide to the $0.27 to $0.23 support zone. Buyers are expected to fiercely defend the zone.

The bulls will be back in the driver’s seat on a close above the channel. That could clear the path for a rally to $0.48. Sellers are expected to vigorously defend the $0.48 level because a break above it may propel the pair to $0.59.

Cardano price analysis

Cardano (ADA) has been trading inside the symmetrical triangle pattern, indicating indecision between the bulls and the bears.

It is difficult to predict the direction of the breakout with certainty as the flattish moving averages and the RSI just above the midpoint do not give a clear advantage either to the bulls or the bears.

If buyers drive the price above the triangle, the ADAUSDT pair could pick up momentum and rally to $1.33. If this level is crossed, the rally could extend to $1.64. On the other hand, a break and close below the triangle could sink the pair to $0.80.

Chainlink price analysis

Chainlink (LINK) bounced off the 20-day EMA ($22.72) on Jan. 19, indicating that the sentiment remains positive, and traders are buying on dips.

The LINKUSDT pair rose above the $26 overhead resistance on Jan. 20, indicating that the bulls remain in control. If the price sustains above $26, the pair could retest the overhead resistance at $31.

Instead, if the price fails to maintain above $26, it will suggest selling on rallies. The bears will have to tug the price below the 20-day EMA to signal strength. That increases the risk of a fall to $20.

This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.

 

Source: https://www.tradingview.com/news/cointelegraph:a8013c3aa094b:0-price-analysis-1-20-spx-dxy-btc-trump-eth-xrp-bnb-sol-doge-ada-link/

Anndy Lian is an early blockchain adopter and experienced serial entrepreneur who is known for his work in the government sector. He is a best selling book author- “NFT: From Zero to Hero” and “Blockchain Revolution 2030”.

Currently, he is appointed as the Chief Digital Advisor at Mongolia Productivity Organization, championing national digitization. Prior to his current appointments, he was the Chairman of BigONE Exchange, a global top 30 ranked crypto spot exchange and was also the Advisory Board Member for Hyundai DAC, the blockchain arm of South Korea’s largest car manufacturer Hyundai Motor Group. Lian played a pivotal role as the Blockchain Advisor for Asian Productivity Organisation (APO), an intergovernmental organization committed to improving productivity in the Asia-Pacific region.

An avid supporter of incubating start-ups, Anndy has also been a private investor for the past eight years. With a growth investment mindset, Anndy strategically demonstrates this in the companies he chooses to be involved with. He believes that what he is doing through blockchain technology currently will revolutionise and redefine traditional businesses. He also believes that the blockchain industry has to be “redecentralised”.

j j j

Ripple’s Stablecoin: The ‘Death of $XRP’ or Its Perfect Companion?

Ripple’s Stablecoin: The ‘Death of $XRP’ or Its Perfect Companion?

In early April 2024, blockchain company Ripple (XRP) announced plans to launch a US dollar-pegged stablecoin to support the growth of its public blockchain XRP Ledger (XRPL).

While Ripple CEO Brad Garlinghouse called the stablecoin launch a “natural step for Ripple,” the company will find itself in an overcrowded yet lucrative $150 billion stablecoin market that is often in the crosshairs of lawmakers and regulators.

What does Ripple’s stablecoin mean for XRP? Will it rival Tether (USDT), USD Coin (USDC), and other key stablecoin market players?

Key Takeaways

  • Ripple will launch a stablecoin on the XRP Ledger and Ethereum.
  • Ripple aims to launch a “compliance-first” stablecoin aimed at institutional clients.
  • Critics fear that a Ripple stablecoin will make the XRP token obsolete.
  • Meanwhile, Anndy Lian, an intergovernmental blockchain expert, said Ripple’s dual-asset approach could improve the overall payment experience for customers.
  • Tether’s early-mover advantage has made USDT the most popular stablecoin in the world, accounting for 72% of stablecoins’ daily trade volume.

Why Is Ripple Launching a Stablecoin?

Stablecoins are unique digital assets that offer the best of traditional and decentralized finance (DeFi). Crypto investors use these fiat-pegged tokens to facilitate trade, provide liquidity for currency hedging, and protect their portfolio against crypto market volatility. Another area in which stablecoins have shown immense promise is international remittances and inflation hedging.

Therefore, it is no surprise that Ripple, a company that provides cross-border payment, custody, crypto liquidity, and central bank digital currency (CBDC) solutions, is entering the stablecoin market.

The company said:

“Ripple will leverage both XRP and the stablecoin in its payment solution to further improve the customer experience and serve as the first enterprise use-case of the asset at scale. There is demand from Ripple’s customers in emerging markets to enable stablecoin payouts.”

According to Ripple’s statement, the company will issue US dollar-pegged stablecoins that will be 100% backed by US dollar deposits, short-term US government treasuries, and other cash equivalents. The stablecoin will be available on XRP Ledger and Ethereum (ETH).

In order to catch up to market leaders Tether’s USDT and Circle’s USDC, Ripple is prioritizing the issuance of a “compliance-first” and trustworthy stablecoin. Having a compliant stablecoin will be key for Ripple to keep hold of its primary clientele composed of institutions and governments.

What Does a Ripple Stablecoin Mean for XRP?

A burning question on every XRP investor’s mind is whether the upcoming Ripple stablecoin will complement the XRP token or render it obsolete.

Some think the Ripple stablecoin will bring the “death of XRP.” At the moment, XRP is primarily used as a bridging asset to facilitate cross-border payments on the XRP Ledger. For example, when a user converts Turkish Lira (TRY) to USD, the XRP Ledger first converts TRY to XRP and then converts XRP to USD. XRP is the bridging currency as it is the native token and, therefore, the most liquid asset on the XRP Ledger.

Now, the entry of a Ripple stablecoin threatens XRP’s position as the bridging currency. Not only will a stablecoin offer a non-volatile alternative for currency swaps, but the compliance-first nature of the asset will help calm the nerves of Ripple’s risk-averse institutional clients.

Back in 2021, money transfer services company MoneyGram International canceled its partnership with Ripple after the US SEC labeled XRP as an “unregistered security.” The case that began in December 2020 is still ongoing as of April 9, 2024.

Contrary to the lingering pessimism, Anndy Lian, an intergovernmental blockchain expert, was optimistic about Ripple’s “dual-asset approach” to creating blockchain-based enterprise-grade solutions that financial institutions need.

Lian told Techopedia:

“Ripple’s approach to leveraging both XRP and its stablecoin could offer the best of both worlds: the speed and technology of XRP with the stability and reliability of a stablecoin. Ripple’s USD-backed stablecoin is designed to be used alongside XRP in Ripple Payments to support greater liquidity and enable global on/off ramps to service cross-border payments demand at scale. This dual-asset approach could improve the overall payment experience for customers worldwide.”

The expert believes that while XRP serves as a bridge currency facilitating quick conversions between different fiat currencies, the introduction of a stablecoin could provide a less volatile option for the actual store and transfer of value, which might be particularly appealing in emerging markets where there’s demand for stablecoin payouts.

“The combination of XRP and a stablecoin in Ripple’s ecosystem is aimed at enhancing the efficiency and stability of cross-border payments,” he said.

Lian added that some analysts expect a 17% increase in XRP price following the stablecoin launch. He said:

“This is based on early on-chain movements that suggest investors are positioning for a positive price impact. Long-term predictions for XRP’s price remain optimistic, with some analysts suggesting the formation of a pennant structure over the past four years, indicating potential for significant price movements.”

Will the New Ripple Stablecoin Rival Tether and USDC?

Ripple will find it an uphill task to overtake market leaders Tether and Circle in the stablecoin market.

Despite clashes with regulators, Tether’s USDT continues to dominate the stablecoin industry. As of April 9, 2024, USDT’s market cap stood at over $107 billion, accounting for more than 71% of the total stablecoin industry market cap, CoinMarketCap data showed.

Tether’s early-mover advantage has made USDT the most popular stablecoin in the world. At the time of writing, USDT accounted for 72% of stablecoin daily trade volume.

Meanwhile, Circle’s USDC, which launched in September 2018, has eaten into USDT’s market share over the years due to its branding as the safest stablecoin in the market.

Circle’s close affiliation with influential crypto companies like Coinbase has also helped the USDC brand. As of April 9, 2024, USDC was the second largest stablecoin with a market cap of $32.6 billion (21% of cumulative stablecoin industry market cap) and a 24-hour trade volume of $7.8 billion (8% of total stablecoin daily trade volume at the time of writing).

Furthermore, Ripple’s plans to launch its stablecoin on the Ethereum blockchain means that its stablecoin will have to compete with innovative DeFi products such as MakerDAO’s multi-collateralized stablecoin DAI, Frax Protocol’s algorithmic stablecoin FRAX and Ethena Labs’ synthetic dollar USDe.

Ripple will find competition in the compliance-first stablecoin space as well. In the same week as Ripple’s stablecoin launch announcement, Agora announced the launch of its fully collateralized stablecoin, the reserve fund of which will be managed by global investment powerhouse Van Eck.

 

The Bottom Line

If there is one crypto product that has a product-market fit, it is stablecoins. Ripple’s venture into stablecoin could mark a new chapter for the XRP community.

For too long, Ripple has been associated with its fight against the US SEC. Maybe a stablecoin launch will bring back the spotlight on its blockchain products.

Source: https://www.techopedia.com/is-ripple-stablecoin-launch-bearish-for-xrp

Anndy Lian is an early blockchain adopter and experienced serial entrepreneur who is known for his work in the government sector. He is a best selling book author- “NFT: From Zero to Hero” and “Blockchain Revolution 2030”.

Currently, he is appointed as the Chief Digital Advisor at Mongolia Productivity Organization, championing national digitization. Prior to his current appointments, he was the Chairman of BigONE Exchange, a global top 30 ranked crypto spot exchange and was also the Advisory Board Member for Hyundai DAC, the blockchain arm of South Korea’s largest car manufacturer Hyundai Motor Group. Lian played a pivotal role as the Blockchain Advisor for Asian Productivity Organisation (APO), an intergovernmental organization committed to improving productivity in the Asia-Pacific region.

An avid supporter of incubating start-ups, Anndy has also been a private investor for the past eight years. With a growth investment mindset, Anndy strategically demonstrates this in the companies he chooses to be involved with. He believes that what he is doing through blockchain technology currently will revolutionise and redefine traditional businesses. He also believes that the blockchain industry has to be “redecentralised”.

j j j