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XRP rises 30% to lead the price recovery of Bitcoin (BTC) and Ethereum (ETH)
XRP is currently leading the crypto market recovery, outperforming the likes of Bitcoin (BTC) and Ethereum (ETH). Over the past 24 hours, the price of XRP rose by 30% to trade above $0.552 for the first time since May 10th.
XRP price is experiencing a strong uptrend due to Increased optimism among investors During the Ripple Vs SEC lawsuit. There has also been a high volume of whale moves for XRP, with a lot to be expected from Ripple win his case against the SEC.
Joining this rally was Bitcoin, the world’s largest cryptocurrency, which recovered beyond its 3-month low to trade as high as $19,464. However, traders are waiting for a clear move above $19,550 and $19,600.
Ethereum (ETH) managed to end a losing streak that saw the price of Altcoin drop above $1,750 to $1,251. Over the past 24 hours, ETH has gained more than 5% in value, pushing its price to an intraday high of $1,351.
Ethereum (ETH) 24 hour price chart. source: CoinMarketCap
Cardano (ADA) is up 7% after the successful launch of Vasil Hard Fork
The long-awaited Vasil hard fork Finally launched It is now live on the Cardano blockchain. IOHK, the blockchain company behind Cardano, announced that the upgrade took place at 21:44 UTC on Thursday, September 22nd.
Vasil’s launch is one half of the fork, which is expected to be completed on September 27. After its completion, the scalability and performance of the Cardano network is expected to increase significantly.
Vasil will leverage Cardano’s smart contract capabilities with Plutus V2, which is expected to encourage developers to build more advanced decentralized applications (dApps), allowing it to compete with the likes of Ethereum, BNB Chain, Avalanche, and Polygon.
In response to the news of the successful launch, Cardano (ADA) embarked on a short rally that saw the coin rise 7% in the 24-hour time frame. ADA traded as high as $0.4791 before rebounding to its current price of $0.4601 at the time of writing.
Vasil is Cardano’s most significant update to date and is expected to make the network more developer friendly, and reduce transaction costs.
Ethereum coin mixer Tornado Cash returns to GitHub after OFAC توجيه directive
Tornado Cash, the popular Ethereum mixer, which was recently approved by the US Office of Foreign Assets Control (OFAC), has is back GitHub software development platform.
The platform’s token and profile were previously removed from GitHub, just hours after OFAC blacklisted the platform on August 8. However, today the developers of Ethereum woke up to discover that the tokens had been restored on GitHub.
Its token recovery follows a clarification made of OFAC policies on Tornado Cash. OFAC has announced that copying and providing the Tornado Cash token is no longer prohibited by law.
OFAC went on to say that if Tornado Cash returns online, US residents will be legally allowed to visit the Tornado Cash website.
The ongoing debate over Tornado Cash has raised a lot of questions in the developer and cryptocurrency community.
Bitcoin (BTC) Miners Calculate North Files for Chapter 11 Bankruptcy
Compute North, one of the largest bitcoin mining companies, Foot for Chapter 11 Bankruptcy on Thursday, September 23 in US Bankruptcy Court for the Southern District of Texas. Compute North cites falling BTC and rising energy costs as reasons for its current struggles.
according to court filingCompute North owes approximately 200 creditors approximately $500 million, in addition to having assets and liabilities valued at between $100 million and $500 million.
Compute North claims that no funds will be available for distribution to unsecured creditors after any administrative expenses have been paid. The miner is now hoping to stabilize its business during bankruptcy.
Dave Burrell, the mining company’s CEO, has resigned, but he will remain on the company’s board of directors. Meanwhile, former chief operating officer Drake Harvey has been promoted to president of Compute North.
Although Compute North has become the first crypto-mining-related company to file for bankruptcy, the company has joined the list of seemingly relentless victims of the crypto winter.
Coinbase gets regulatory approval to operate in the Netherlands
Coinbase for her received approval From De Nederlandsche Bank (DNB), the central bank of the Netherlands, to act as a crypto service provider. The approval represents an entry point through which the exchange hopes to expand across the European Union.
Coinbase has become the first major global cryptocurrency exchange to gain approval from the Dutch central bank. A regulatory license enables Coinbase to offer retail, enterprise, and ecosystem products to customers in the Netherlands.
Coinbase has confirmed that registrations and other licenses are underway in several key markets, even as it serves its customers in nearly 40 European countries through dedicated hubs in the UK, Ireland and Germany.
This development comes on the heels of DNB’s September 16 publication of Q&A Guidelines dedicated to Sanctions Screening Policies for Cryptocurrency Transactions, which outline the risks and anonymity associated with cryptocurrencies.
Approval will help Coinbase keep pace with competitors Binance and BitStamp, which are spreading their reach across Europe.
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