Cryptostreet

  As Coinbase announces in its own blog , the Coinbase wallet will soon no longer offer support for the XRP asset. The exchange stopped trading in the token back in January 2021. Could these decisions have something to do with the Ripple-SEC litigation? As Coinbase announced yesterday , the platform's wallet will no longer support Ripple (XRP), Bitcoin Cash (BCH), Ethereum Classic (ETC), and Stellar (XLM) assets and networks. This decision was allegedly made due to the low usage of these blockchains and will come into effect from January 2023 . As early as January 2021, Coinbase delisted XRP from exchanges, soon removing the asset from its list entirely. XLM, BCH and ETC, on the other hand, are at least still traded on the Coinbase exchange. Coinbase decision does not affect XRP price While this announcement may arguably panic some Ripple investors, it doesn't appear to have impacted the token's price as of now. Whether with or without Coinbase - part of the community still...

  Sony is working on a line of wearable motion-tracking sensors for VR platforms and the Metaverse with the “Mocopi” project. The Japanese technology group explained this in a press release . Mocopi consists of six bands that a user can wear on the ankles, wrists, head and hips. In addition, a dedicated smartphone application and a software developer kit (SDK) are to be supplied. The “captured motion data” could be linked to “Metaverse services and 3D development software” using this kit. Sony Japan explains: “This SDK […] facilitates the development of new services in areas like metaverse and fitness”. “Mocopi creates high-precision motion measurements with a small number of sensors, freeing virtual creators and developers involved in film and animation production from time and place constraints,” writes Sony. The tentative release date is late January 2023. My Top Picks Honeygain - Passive earner that pays in BTC or PayPal M andalaExchange - The Best no KYC crypto Exchange! Wo...

  Data from on- chain analytics firm Glassnode confirms that November 2022 saw the fourth-biggest BTC sale ever. Bitcoin investors see billions in losses In the current edition of the weekly newsletter "The Week On-Chain", Glassnode has dealt with the impact of the FTX situation on BTC investors. The mixed results: on the one hand, a major loss of confidence has led to loss-making outflows of funds, on the other hand, there has also been "strong accumulation". However, it is a tough time for people getting into BTC in the current conditions. "One event that almost always drives the transition from a bear market back to a bull market is the dramatic realization of losses as investors give up and capitulate on a large scale," Glassnode explained. “November saw its fourth-largest capitulation ever with a 7-day loss of $10.16 billion, four times larger than the December 2018 peak and 2.2 times larger than March 2020." The dollar capitulation can be explai...

  What makes a good investment? When different stores of value compete with each other, it is the unique & distinctive qualities that make a good store of value that allows one to outperform another. The characteristics of a good store of value are durability, transferability, fungibility, divisibility and, most importantly, scarcity. All of these characteristics determine what is used as a store of value. Jewelry, for example, may be scarce, but it's easy to destroy, not divisible, and certainly not fungible. Gold fulfills these properties much better. Over time, gold has replaced jewelry as mankind's preferred technology for preserving wealth, and has served as the most effective store of value for more than 5,000 years. However, since the introduction of Bitcoin in 2009, gold has faced digital disruption. Digitization optimizes almost all store-of-value functions. Bitcoin , then, not only serves as a store of value, but is also an inherently digital money that will event...

  Brazil has taken the first step towards further expanding the crypto infrastructure in the largest country in South America. The Brazilian Chamber of Deputies yesterday passed a legal framework that legalizes crypto as a means of payment, laying the foundation for the further expansion of the crypto industry. However, crypto is still not an official means of payment in Brazil and therefore does not have the status of a recognized currency. However, this should only be a matter of time and will depend heavily on the success of the Bitcoin project in El Salvador. New regulation The law, which comes into effect upon the signature of the President, gives official legal validity to transactions that have taken place with crypto. This means that goods and services can be paid for with Bitcoin & Co. in the future. However, since it is not yet a currency and therefore not an official means of payment, Brazilians also have to wait until taxes and duties can also be paid with it. This ...

 Solana-based decentralized exchange (DEX) Project Serum has told its community that it "no longer exists" due to the collapse of its backers, namely Alameda and FTX. The team behind the project said that despite the ongoing challenges, there is still "hope" as Serum could still be "forked" .  The announcement states, "A collaborative effort to fork Serum is well underway." OpenBook, the community-driven fork of the Serum v3 program, is already active on Solana with over $1 million in daily volume. The community is constantly trying to expand it and increase its liquidity. "With the existence of Openbook, Serum's volume and liquidity has been reduced to almost zero," Project Serum said on Twitter . Users and protocols are more secure using OpenBook because unspecified security vulnerabilities exist on the "old serum code" compromised by the FTX hack .  With regard to the SRM token, the DEX announced that the future of SRM ...

 South Korea has requested arrest warrants for Terraform Labs co-founder Daniel Shin, three investors and four engineers responsible for the TerraUSD and LUNA initiatives. While the ongoing manhunt for Terraform Labs co-founder and CEO Do Kwon is still ongoing, prosecutors have issued an arrest warrant for co-founder Daniel Shin and seven other engineers and investors in the company after they were suspected of pre-Terra's massive collapse -Economists to have made illegal profits. Prosecutors of the South District of Seoul in South Korea suspected that Shin owned Terra tokens that were pre-issued without the investors' public knowledge. Shin is said to have bagged 140 billion won (about 105 million USD) worth of profits by selling the pre-issued tokens during the bull market. Arrest warrants have also been requested for three Terraform Labs investors and four engineers. You are responsible for the TerraUSD and LUNA initiatives. This was confirmed by the local news outlet Yonhap...

  Without a doubt, Algorand investors took huge losses in this bear market. In November alone, the price suffered a painful 50% setback. But since the summer of 2019, the price development of the cryptocurrency has not been good. Is there still hope for investors? Algorand (ALGO) price action has been overwhelmingly depressing for investors. Since its all-time high of $3.24 in June 2019, ALGO's price has plummeted over 92%. In fact, Algorand was one of the few coins that seemed to ignore the year-end 2021 bull market and failed to make a new all-time high. With the current price hovering around $0.244, ALGO investors are desperate for a redeeming rally .  Algorand social metrics remain bearish  Although Algorand generated some hype on crypto Twitter with its ongoing Decipher event, the social metrics showed no major changes. ALGO's social volume has been falling since November 22nd.  Currently, Algorand is attempting to hold the long-term support level of $0.245. How...

  Stablecoins are digital currencies that reflect the value of another asset. These are mostly fiat currencies , such as euros or US dollars. A stablecoin can therefore mirror the value of another currency. In principle, a stablecoin can represent any asset. Typically, however, stablecoins represent assets with low volatility. As a result, they are relatively stable in value (just as stable as the value to which they are linked) compared to other cryptocurrencies. This stability makes stablecoins particularly suitable for trading in cryptocurrencies such as Bitcoin. The advantage: exchanging stablecoins for cryptocurrencies is much easier than going through a bank account. Investors looking to buy or sell cryptocurrencies do not need to conduct transactions through their fiat bank account. This usually saves time and fees. Stablecoins therefore act as a link between the crypto sector and the classic market. By being tied to “stable” values, they thus facilitate the trading and stor...

  The FTX bankruptcy shook the entire crypto world to its foundations. But little by little, more and more details are coming to light and Sam Bankman Fried also commented on the allegations again in an interview. The corresponding recording was made on November 16, but was only published yesterday. In particular, speculation with customer funds and payments to customers in the Bahamas after the bankruptcy were discussed. The original downfall of the FTX empire was bad speculation in foreign funds that led to bankruptcy. Alameda and the Bahamas But SBF provided very unsatisfactory answers to both of these for the world public. When asked about a backdoor in FTX that would have allowed him to send customer funds to Alameda to then speculate on, he just said he couldn't have built it in because he can't program. However, he does not deny that there was an outflow of funds, nor that someone else could have installed the back door. On the other hand, there were new details regardin...