XRP & 'maybe just feelings'

DATE: 02-01-23 View online Hey Cryptonews, here's our curated daily bundle of crypto news. OG Bitcoin developer loses 'basically' all BTC in hack Developer claimed the episode happened right before New Year's Hackers apparently got access to his PGP (Pretty Good Privacy) key In a recent Twitter thread, Luke Dashjr revealed that his PGP key has been compromised. 'At least many of my Bitcoins stolen,' he went on to say, with the developer subsequently asking the Twitter community for help. Here, it's worth noting that a PGP key is a pretty common tool within the industry, one that uses two keys to access information.  The developer also shared a wallet address, one where the stolen BTCs have been allegedly sent. At the time of writing, 4 transactions amounting to less than $4M could be traced to this address.  Reactions to the update were swift, with some claiming that the developer didn't take a security breach incident in November seriously enough. On the contrary, others were more sympathetic. Binance CEO CZ, for instance, stated,   "Informed our security team to monitor. If it comes our way, we will freeze it." Solana-powered Metaplex's update is good news for NFT creators Metaplex announced an upgrade that enables enforcement of royalties Creators can upgrade existing NFT collections from next week According to an update by Metaplex, NFT creators can soon upgrade their collections to enable royalties enforcement. Such an update is likely to spur interest in Solana NFTs in 2023. Also, NFT creators can earn a share of the profits every time an NFT created finds a new buyer. Such an update is expected to encourage more creators to choose Solana as their go-to blockchain for NFT deployment. For instance, while much of 2022 saw Solana's NFT volumes fall, the past week saw an uptick in the same. An uptick that can perhaps be explained by the optimism surrounding the aforementioned update.  On a related front, the update coincided with the latest surge in SOL's social volume metric. Also, there has been a marked uptick in money inflows too.  Learn More Blue-chip NFT Index down by <40% in 2022 Blue Chip Index is calculated by weighing the market capitalization of Blue Chip NFT collections The fall in the index's value highlighted the general market's sentiment last year With a value of 9,248 ETH, the Blue Chip Index fell to a new low towards the end of 2022, according to NFTGo. Blue Chip NFTs are a subcategory of the broader NFT market that is considered to be of high quality and value. Examples include Bored Ape Yacht Club [BAYC], Mutant Ape Yacht Club [MAYC], Crypto Punks, and Meebits. The aforementioned decline in value is evidence of the fact that most see these digital collectibles as luxury items in a bear market, rather than inflation-proof investment vehicles.  NFTGo also revealed that while CryptoPunks started 2022 by leading the NFT vertical with a superior market capitalization, it was soon replaced by BAYC. The latter closed 2022 with a market cap of $830 million, with the collection having an 8.12% market share.  Learn More SushiSwap CEO proposes redesign of tokenomics CEO Jared Grey presented the proposal on 30 December This proposal intends to spur liquidity and decentralization on the platform According to the proposal shared by Grey on Sushi's forum, the redesign would introduce time-lock tiers to emission-based rewards. What's more, it will also initiate a token-burning mechanism plus a liquidity lock for price support. While liquidity and decentralization are obvious aims, such a move will also help strengthen treasury reserves.   Less than a month ago, Grey had made headlines when he claimed that SushiSwap had a treasury runway of less than 1.5 years left. The likelihood of a deficit endangering SushiSwap's operations would explain why the CEO was quick to release the aforementioned proposal.  Under the same, liquidity providers would earn a percentage of the swap fees. They'll also be able to lock their liquidity to earn emission-based rewards.  Dogecoin Foundation announces new core development fund 5M DOGE will now be set aside to be given to Dogecoin Core Development of Dogecoin Core critical to DOGE's ecosystem In an effort to boost development activity within the Dogecoin ecosystem, the Foundation has announced a new core development fund. Under the same, 5M DOGE will be set aside for the Dogecoin Core team. A record of all related expenses will be maintained too to maintain transparency. A new, segregated multi-signature wallet has been designed to transparently manage and disburse the aforementioned sum. The wallet in question will be operated by Dogecoin Core developers and members of the Dogecoin Foundation.  As expected, this update had an effect on the memecoin's price. DOGE hiked by over 5% in 24 hours. In related news, Marshall Hayner has been named to the Board of Directors by the Dogecoin Foundation.  Ripple CTO comments on XRP's 'low' price On Twitter, CTO David Schwartz was asked why XRP hasn't appreciated Schwartz used Google's example to make his point Ripple CTO David Shwartz was recently asked about XRP's lack of price appreciation on Twitter. While the exec was quick to respond to the query, he did attach a caveat to the same by claiming,  "I will tell you what I think is true, though I can't back it up with facts. It's just my sense based on data, experience and maybe just feelings." According to Schwartz, the crypto-market is now in a position where Google was in 2000. Back then, few believed search engines would generate billions in new wealth. Similarly, the market right now is still trying to figure out if crypto really is the next big thing, with the exec adding that, "as crypto matures, markets will be more ready to figure out which cryptos will be successful." FTX's Sam Bankman-Fried to enter 'not guilty' plea The former FTX CEO is out on a $250M bail bond SBF is next set to appear before the court on 3 January According to Reuters, Sam Bankman-Fried is expected to plead not guilty to criminal charges leveled against him. FTX's Founder has been charged under the anti-fraud provisions of the Securities Act of 1933 and the Securities Exchange Act of 1934. Here, it's worth noting that defendants are allowed to change their pleas in such cases in due time.  SBF was in the news recently after he vocally denied his involvement in a series of suspicious transactions involving Alameda Research's wallets. These transactions are reportedly under investigation by law enforcement agencies now.  In fact, a Wall Street Journal report went on to claim that regulators and legislators in the United States are under immense pressure following the crypto-exchange's collapse in November. Most analysts expect stricter regulatory guidelines to come into force soon.  Learn More New year, same old BTC and ETH Coin Price 24hr Market Cap ↑BTC $16,653 +0.6% $320.5 Billion ↑ETH $1,202 +0.7% $144.9 Billion ↑ADA $0.25 +2.3% $8.7 Billion Bitcoin, the world's largest cryptocurrency, was priced at $16,653 at the time of writing. As was the case during the last week of December, the first few days in January saw BTC embracing minimal volatility. There seemed to be hardly any movement in either direction, with the crypto up by just 0.6% at press time. The same was evidenced by the Bollinger Bands' lack of width. On the contrary, however, the Chaikin Money Flow was erratic, with the same dipping under zero to highlight capital outflows at press time.  Like BTC, Ethereum too was within a low volatility range. The world's largest altcoin was up by only 0.7% over the last 24 hours, having continued to trade under its support level on the charts. With a market cap of just under $145 billion, ETH's indicators underlined the bearishness in the market. While the Parabolic SAR's dotted markers were positioned above the price candles, the Moving Average was above the same too. With a few other alts appreciating on the charts, however, this price direction might change soon.  Compared to BTC and ETH, ADA has been a little more mobile and volatile on the charts. With a value of $0.25, the altcoin was up by over 2% at press time. Ranked 9th on the charts, ADA had a market cap of under $9 billion. As far as the indicators are concerned, the RSI registered an uptick to close in on the neutral zone. Similarly, the MACD noted a bullish crossover with the Signal Line right below the histogram to suggest returning bullishness.  Altcoins ride green wave Coin Price 24hr Market Cap ↑APE $3.83 +5.4% $1.3 Billion ↑AXS $6.29 +4.9% $718 Million ↑DOT $4.45 +3.5% $5.2 Billion Valued at $3.83 on the price charts, APE had a market cap of $1.3 billion at press time. Having fallen significantly towards the middle of December, the crypto recovered well over the last two weeks. In fact, its uptrend was such that the alt was up by over 5% over the last 24 hours. Even so, one can argue that this uptrend might soon come to a halt. This, especially since the Bollinger Bands underlined compressed volatility. While the RSI registered a sharp uptick over the last week or so, the same was flattening above neutral 50 at press time.  Like APE, AXS too flashed a major uptick over the last 24 hours. With a price of $6.29, the altcoin was up by almost 5% on the charts. This uptick has been very recent though. Also, it's worth noting that with a market cap of $718M, the altcoin has been trading at a level well below the one seen ten months ago. On the indicators' front, the Parabolic SAR's markers still suggested bearishness while the Moving Average was still well above the price candles.   DOT's 24-hour uptick of 3.5% wasn't as significant as the ones noted by APE and AXS. While it had a market cap of just over $5.2B, the altcoin was well below its level a few months ago. Priced at $4.45, DOT seemed to be on a larger downtrend on the charts, despite the aforementioned short-term hike. While the MACD and Signal lines were too close together to highlight a trend, the RSI was climbing slightly and moving away from the oversold zone.  Struggling to see green Coin Price 1w Market Cap ↓↓SOL $9.98 -12.4% $3.6 Billion ↓↓SAND $0.39 -11.1% $618 Million ↓DOGE $0.07 -7.5% $9.6 Billion Not all altcoins were flashing green, however, with SOL down by over 12% in the last week alone. Valued at under $10, the altcoin had a market cap of $3.6B. On the charts, the altcoin seemed to be on a consistent downtrend, with the altcoin well below the levels seen in early-2022. Worth pointing out, however, that SOL did appreciate somewhat over the last 24 hours. On the indicators' front, while the Bollinger Bands were opening up to underline some volatility, the RSI registered a spike to close in on the neutral zone.   The popular Metaverse token, SAND was trading at $0.39 on the price charts, at the time of writing, following a depreciation worth 11.1%. Like the rest of the industry, the crypto has been on a major downtrend over the past year. In fact, the crypto is now almost 90% away from its ATH set back in November 2021. As far as technical indicators are concerned, the Moving Average was positioned well above the price candles. Similarly, the CMF underlined growing capital outflows on the charts.  Dogecoin, the world's premier memecoin, was down by over 7% over the last 7 days at press time. With a market cap of $9.6 billion, DOGE is still among the market's top-10 cryptos though. With the Dogecoin Foundation announcing a new development fund, the altcoin hiked on the charts, albeit briefly. This hike was represented by the latest markers of the Parabolic SAR, with the same now below the price candles. On the contrary, the Moving Average was still positioned above the price candles.  Share with friends: Facebook  | |  Twitter  | |  Email © 2022 Unhashed. All Rights Reserved. Unsubscribe