Chain News by Thebittimes.Com

Ripple’s native token XRP is down close to 20% in a month. The downturn indicates that the bull run could be over as its price is on a slippery slope. While bulls were expecting the leading altcoin to breach the $4 mark, it now looks like it could fall below the $2 range. Investors are skeptical of taking an entry position, believing that the altcoin is yet to bottom out in price. Also Read: AI Models Reveal How Ripple May Surpass Rival Cryptos Will XRP Rise Again? Source: Coin Edition Yes, XRP will rise again, and that’s the way the market functions in a cyclic manner. The rise, fall, and sideways trading is the norm, but the million-dollar question is, how long will it last? Nobody, not even a seasoned investor, can crack the market timing, as it’s the only thing that cannot be tamed or controlled. Also Read: Canary Capital Sets Nov. 13 Launch for XRP ETF After SEC Shift Leading on-chain metrics and price prediction firm Wallet Investor has painted a bearish picture ...

XRP is crashing today and has dropped all the way down to $2.44—which is actually its lowest level since October 24 and represents a really steep 35% decline from the yearly highs. The crash has wiped out billions from XRP’s $157 billion market cap, and traders are now desperately trying to figure out why XRP is crashing, when the rebound will actually start, and also how high XRP can go once the recovery finally begins. Also Read: XRP Hits $9,000 for Seconds: Here’s the Truth XRP Price Prediction, Rebound Timeline, and Why XRP Is Crashing Source: Forbes / Getty Images Why XRP Is Crashing—Fed Decision and Whale Selling XRP crashing today comes right after the Federal Reserve cut rates by 0.25% along with their announcement that quantitative tightening will end in December. Donald Trump’s APEC meeting with Xi Jinping also went pretty well and produced some positive outcomes, but the thing is traders had already priced these developments into the markets. Right now, traders ar...

Modernizing public finance management through blockchain could help governments identify potential corruption and waste by providing additional transparency and traceability. The Official Monetary and Financial Institutions Forum, or OMFIF, an independent global think tank for central banking and economic policy, has released a report suggesting that blockchain technology in a public finance management system could provide information essential to “formulate and design fiscal policy.” According to a Tuesday report, the OMFIF said modernizing public Finance management through Blockchain could help governments identify potential corruption and waste by providing “enhanced transparency and traceability of payments.” The report suggested the technology could facilitate the prevention of embezzlement of funds given the global rise in fraud from cases including ransomware and cybersecurity attacks. In addition to helping reduce the risk of theft from invoice fraud — allowing users to send ...

JPMorgan, DBS Bank, and SBI Digital Asset Holdings have completed their first lives trades on a public blockchain using decentralized finance (defi), tokenized deposits, and verifiable credentials under the supervision of the Monetary Authority of Singapore (MAS). Singapore’s central bank is planning two more pilots that involve Standard Chartered Bank, HSBC, and UOB. JPMorgan, DBS Bank, SBI, Standard Chartered Bank, HSBC, UOB Participate in MAS Digital Asset Pilots The Monetary Authority of Singapore (MAS), Singapore’s central bank, announced Wednesday that “the first industry pilot under the MAS’ Project Guardian that explores potential decentralized finance (defi) applications in wholesale funding markets has completed its first live trades.” The announcement details that for this pilot: DBS Bank, JP Morgan, and SBI Digital Asset Holdings conducted foreign exchange and government bond transactions against liquidity pools comprising of tokenized Singa...

The central bank of Kazakhstan intends to use Binance’s blockchain platform Bnb Chain for the deployment of its upcoming digital currency. The decision was made public on social media by Changpeng Zhao, the chief executive of the global crypto exchange which was recently licensed to work in the country. Kazakhstan to Employ Binance Blockchain Infrastructure for Its Central Bank Digital Currency Project Kazakhstan’s monetary authority is going to integrate its central bank digital currency (CBDC) into the Bnb Chain developed by Binance, the founder and CEO of the world’s leading crypto trading platform, Changpeng Zhao (CZ), announced on Twitter. Binance was recently granted license to provide a range of services for digital assets , including exchange and custody, while operating from the Astana International Financial Center (AIFC), the Central Asian nation’s financial hub . National Bank of Kazakhstan (NKB) will integrate their CBDC on @BNBchain. #BNB h...

Source: Western Union Western Union has filed three trademark applications associated with digital assets, suggesting that the international money transfer company might be preparing to offer crypto-related services.  In a Tuesday tweet, trademark attorney Mike Kondoudis said that the three trademarks cover various applications including managing wallets, exchanging digital assets and commodities derivatives, issuing tokens of value, and brokerage and insurance services. "Western Union has filed 3 trademark applications claiming plans for Financial + Banking + Insurance Virtual currency exchange + transfer Commodity and Crypto trading + brokerage Issuing tokens of value …and much more," Kondoudis said in the tweet.  Western Union is a major provider of cross-border remittance services. The company has been relatively cautious regarding its crypto interactions so far but has expressed interest in the industry.  Back in 2015, the interna...

Users can provide liquidity to the Midas pool with $stkBNB , $BNB , or their stkBNB/BNB LP tokens from PancakeSwap to borrow $BNB . They can be used as collateral as such: stkBNB (75% LTV) BNB (75% LTV) stkBNB/BNB $CAKE LP (75% LTV). All LP tokens used as collateral on Midas will continue to earn yield farming rewards while in the pool. As PStake announced its Partnership with Midas Capital. What is Midas Capital? There are 3 parts to “Midas Capital,” and it is important to recognize the differences between each party involved. The Midas Capital Protocol: A DeFi protocol that is built using Smart Contracts and run autonomously on EVM compatible blockchains in order to put crypto assets to use. The Midas Capital UI: A web app that provides easy to use tooling in order to interact with the decentralized protocol. This interface is one of the many ways of interacting with the Smart Contracts. The core Midas team that will lead the protocol to full decentralization. M...

UniLend also provides spot trading , money markets , and lending and borrowing services , all under one decentralized, permissionless protocol . Furthermore, UniLend is accessible to anyone who owns ERC-20 tokens due to its decentralized nature and permissionless token listing. In addition, the integrated smart contract in the protocol enables trade and DeFi capabilities inside the same protocol, resolving the liquidity and liquidation issue preventing DeFi from being adopted by a wider market. Moreover, by supporting and providing specific functionality for various digital assets , UniLend addresses the issues of functionality fragmentation and limited capability. In addition, the UniLend Financial Token (UFT), a native currency for the network, serves as a governance and utility asset. Together, SupraOracles and UniLend are exploring how SupraOracles technologies to use in DeFi applications while retaining security and transparency. The SupraOracles will help UniLend to use orac...