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Ripple to Build a Better NFT Ecosystem as it Invests $250 Million in the Market

Ripple acts to capitalize on an emerging NFT market as the world bank projects that by 2027, 10% of world’s aggregated gdp will be tokenized.

Ripple Invests $250 Million Under Creator Fund Program

In a recent press release on Sep 29, Ripple, parent to one of the most efficient blockchain ecosystems around the globe, announced that they are investing $250 million to help developers explore NFT user cases, create, sell and manage tokens using XRPL ledger.

Announced as a part of XRPL ledger development summit, Apex, the investment has come under Ripple’s creator fund program. According to Ripple the fund will enable marketplaces, brands, and individual creators to explore NFTs’ new user cases, using XRPL ledger, that features speed, sustainability and low cost. Ripple asserted:

“Since day one, we’ve viewed crypto and blockchain as powerful levelers, unlocking access and equity for everyone.”

They will help build the tokenized future, leading to growth of new business models, and will also assist people to engage with communities they care about, more passionately.

Ripple to Build a Better NFT Ecosystem

Ripple noted, while collectibles and digital art is only the tip of the NFT-iceberg, they are focusing to expedite NFT adoption through attracting a broader community of creators to participate and benefit from NFTs. Ripple said at the current moment people are discouraged from engaging with NFT space, due to various reasons including high costs, low sustainability, and clunky user experience.

Ripple plans to combat these problems by financial, Co-marketing, technical and creative support to provide superior user experience to creators and help them craft premium NFT projects.

To turn its plans into reality, Ripple has partnered with mintNFT, Mintable(NFT Marketplaces), and VSA(a creative agency. Ripple had made its first investment in NFT by participating In Mintable’s successful fundraising event, through which the marketplace has raised over $13 million.

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Billionaire Venture Capitalist Claims that Bitcoin Has Effectively Replaced Gold

The CEO of Social Capital, Chamath Palihapitiya, has added his support to the idea that bitcoin is or will be better and more widely used than gold in the future. In a recent interview, he claimed that Bitcoin has already overtaken gold, and that its market cap would soon reflect this.

Bitcoin Has Taken the Place of Gold
Outside of the cryptocurrency industry, the discussion over bitcoin vs. gold has grown in recent years, with numerous important figures from other financial industries weighing in.

While some, such as Peter Schiff, continue to dismiss Bitcoin as a viable alternative to gold, others, such as Michael Saylor, Anthony Scaramucci, and Steve Wozniak, believe it has more potential.

A billionaire venture capitalist has weighed in on the dispute between bitcoin and gold. During CNBC’s Delivering Alpha conference, Chamath Palihapitiya, CEO of Social Capital, stated that gold had met its match.

“I can pretty confidently say that #bitcoin has effectively replaced gold,” says @Chamath.

“And it will continue to do so… that market cap is just going to grow.” #DeliveringAlpha pic.twitter.com/KFL4TywfD3

— Delivering Alpha (@DeliveringAlpha) September 29, 2021

Palihapitiya did not set a price objective for bitcoin, but he predicted that by early 2021, it will be on its way to $200,000, with a timeframe of five to ten years. After briefly touching $50,000 in early September, bitcoin is again trading below $42,000.

He has already applauded the cryptocurrency and its benefits, asking investors to invest at least 1% of their portfolios in it. Furthermore, he stated that he first became aware of the asset about a decade ago, and that purchasing pieces of it has become his best financial bet.

He also expressed his worries about inflation, saying he was “extremely concerned.” He’s betting on hyper-growth enterprises, cash-flow businesses, and uncorrelated assets such as Bitcoin.

CEO is also a supporter of the Solana blockchain, which is a rival to Ethereum, the second-largest cryptocurrency. Solana’s popularity is growing, and its native token is currently the seventh-largest cryptocurrency by market capitalization.

Chamath stated that it’s difficult for me to estimate a price, but I can confidently state that bitcoin has effectively replaced gold.

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XRP to Go Bullish By Mid-October As per Technical Analysis

XRP, world’s 6th largest cryptocurrency with a market cap of $43 Billion, is currently down by over 17% during the last 30 days.

Market Overview

Though the market has been able to absorb the pressure it was facing on account of China’s Evergrande chaos, the bears are still not over. The month Sep has traditionally been a low month for crypto and it has proved again, as a billion ions of dollars vanished during the last 30 days.

Bitcoin entered the month with a price level of $47,000 and hit its current 30-day high of $52,853 on Sep 7. Later on 22nd Sep the coin dipped below $40,000 price level, and is currently trading at $42,353, up by 0.70% during the last 24 hours. BTC lost its value by over 11% in month Sep, causing altcoins to depreciate even by higher percentages.

As stated earlier XRP too felt the heat of Sep and went down by over 17%. Currently trading at $0.925, the Token is down by 1% in the last 24 hours. During the week XRP has able to hold on to trade above the support level of $0.87. As in the meantime the token changed hands $0.8924 and $1.02.

XRP Technical Analysis

As for the technical analysis, the Token is still trading above the 100-day moving average. XRP could find support at $0.875 and $0.8282. Whereas the token could face resistance at $0.95 and $1.0.

As analysis shows, the BTC has entered a phase from where a strong rally is highly probable, it is projected that XRP would go on to hit unprecedented highs as we lead towards the Oct end. Though the market will remain low during the first week, the rally could start after Oct 10.

Moreover, it is not only BTC that influences XRP’s price action but SEC lawsuit does it too. So, it would be more than adequate to keep an eye on court pro.

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The First Crypto Assets Fund Has Been Approved By The Swiss Market Regulator

SEBA Bank AG has been given a CISA license by the Swiss Financial Market Authority (FINMA) to support an institutional-grade custodian service for nation-native collective investment schemes.

SEBA Bank AG is a Swiss-based, fully regulated organization that specializes in the sale of digital cryptocurrency assets. With this announcement, the bank becomes the first digital asset-centric bank in Switzerland to get a custody license, as well as one of the first in the globe. With the clearance, the institution will be able to offer professional clients in the emerging cryptocurrency markets greater investment options.

Approval of Crypto Assets Fund

The Swiss Financial Market Supervisory Authority certified the Crypto Market Index Fund as the first crypto fund under Swiss legislation on September 29, according to the regulator. The fund is managed by PvB Pernet von Ballmoos AG, with custody provided by SEBA Bank AG, which is a regulated custodian.

According to FINMA, the newly approved fund is restricted to eligible investors and invests primarily in cryptocurrencies or digital assets based on blockchain or distributed ledger technology.

FINMA noted that the investors would be required to invest only through established counterparties headquartered in a Financial Action Task Force member country and subject to anti-money laundering laws.

According to the regulator, the Crypto Market Index Fund can only invest in well-known cryptocurrencies with a large enough trading volume. The Crypto Market Index 10, a product regulated by the SIX Swiss Exchange, will be tracked by the fund, according to Crypto Finance.

Crypto finance further stated that the goal of the Crypto Market Index 10 is to offer an investable benchmark for this asset class by accurately measuring the performance of the largest, most liquid crypto assets and tokens.

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Upgrade your trading strategy using Cindicator

Cryptocurrencies are known for their notorious volatility, with prices swinging wildly. The fundamental issue, however, is that in many circumstances, while trading, human reactions are too slow and cannot respond rapidly enough to achieve the best deals that are theoretically available to them.

A second issue is that individuals are not sufficiently dedicated to devoting enough time to achieving the finest trade. This challenge has now found a solution, and Cindicator has a lot to offer by combining human intelligence with artificial intelligence with a hybrid approach.

The Cindicator platform

Finding a suitable trading platform has always been difficult, but the Cindicator platform, as a fintech firm, provides optimal asset management through predictive analytics based on Hybrid Intelligence.

They are providing the ideal environment for their members by establishing the social and technological infrastructure required to make wise choices in the turbulent conditions of the new economy.

The platform improves trading efficiency by combining several machine learning models into a single system and establishing a hybrid intelligence approach, providing benefits such as risk-free opportunities, trading tools, up-to-date analytics, crypto-asset indexes and ratings, and many more.

Products and services

The platform fosters innovation through their services; their newest product is called Stoic, and it is a cryptocurrency trading platform that operates on autopilot. They regulate the well-known problem of trading emotions with their strategy, which is the key to profitability in trading.

Individuals can now avoid FOMO and FUD by automating their crypto investments with Stoic, which provides frequent rebalancing, hedge-fund-grade methods, and a secure execution platform. They’re utilizing it to rebalance the top crypto asset forecasts from the 176,000 analysts registered with Cindicator.

Another advantage is that the portfolio is monitored 24/7, and withdrawals can be made at any time of day. Cindicator, through this product, also brings the most recent market updates, which are explained so that everyone can acquire the most significant information.

The main benefits are a $1,000 minimum investment requirement, a 0% performance fee, no lockups, and a 5% annual management charge. The software is also available on iOS, Android, and the web, and users can check out a demo portfolio or begin trading right away. Stoic connects to the Binance account using the API.

They also have other products such as macro sentiment indicators, superforecaster signals, the collective intelligence platform, and the Cindicator Edge.

Conclusion

The Cindicator platform delivers the most innovative and up-to-date environment, benefiting everyone from the trading system. Through their offering, they aim to make these tactics equally available not only to the top 1% of the world’s wealthiest people but also to newcomers to assist them in starting to expand their portfolio.

At the moment, their community consists of over 150,000 decentralized analysts and over 17,000 members from 135+ countries.

Be a part of the community and benefit from the opportunity to grow with the finest.

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While Other Cryptos are Speculative, Ripple’s XRP has a Real User Case, Former US Treasurer

In her Sep 27th tweet, Rosie Rios, stated that while other cryptos are speculative, Ripple’s XRP has a primary purpose of facilitating cross-border payment.

XRP has a Real User Case, while other Cryptos are Speculative

Rosie Rios, appointed by Ripple as board member May this year, has served as 43rd treasurer of US and is also a visiting scholar at Harward’s Radcliffe Institute for Advanced Study.Rios recently tweeted:

XRP’s primary purpose is facilitating cross border payments while other cryptos find their value in speculation. China’s latest move brings this point home.”

XRP’s primary purpose is facilitating cross border payments while other #Cryptos find their value in speculation. China’s latest move brings this point home. #Ripple #ripplenet #Bitcoin

— Rosie Rios (@RosieRios) September 26, 2021

Rois’s Critique

Though many seemed to agree with Rois’s notion, some dismissed it too. As CNBC’s Andrew Throuvalas wrote in his piece, Rios’ statement is not entirely true. Throuvalas firstly argued other cryptocurrencies specifically BTC and ETH are not speculative, like BTC is being used as a currency in El Salvador and many are also using it as a digital store of value and similar is the case with ETH, on which most of the DeFi and NFT market bases itself.

Secondly, Throuvalas argued, XRP is not the only digital token that has the capability to facilitate cross-border payments. Rather, he noted, Bitcoin’s implementation of Lighting network in addition to Twitter’s recent application of it are clear indicators that others could also facilitate cross-border payments.

Dissecting Throuvalas Arguments

While Throuvalas first argument is seemingly plausible, the second one is rather flawed. As though it is true that many other cryptos are trying to serve the similar purpose XRP is fulfilling, nobody has been able to do it yet and at the moment XRP is the only crypto doing that, sufficiently and efficiently.

Moreover, as Rois tweeted just hours before, XRP does not have a single user case, but the token’s usability is quite wide ranging. While XRP’s primary function is to facilitate cross-border payments, it is also serving as a base stone for CBDC(Central Bank issued digital currency) and is also an adequate store of value.

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SEC has No Clear Framework for Crypto, States CEO Ripple Brad Garlinghouse

Ripple CEO Brad Garlinghouse castigates SEC again, as he reiterates, the agency has no clear framework for crypto industry.

In multiple follow up tweets after his interview with Fox Business’s Liz Calman, Garlinghouse stated that the agency has failed to provide any clarity over crypto regulations and uses meetings with the crypto companies as lead generation for enforcement actions as he asserted, SEC has lost sight of its mission, which is to protect investors.

He noted, American innovation is at serious risk due to lack of clarity caused by the agency, and instead of working with the crypto industry, SEC isusing their meetings with companies as lead generation for their enforcement actions.”

Instead of working with the industry, the SEC is using their meetings with companies as lead generation for their enforcement actions. Once the dust settles, it’ll be clear that Ripple’s on the right side of the law, and the right side of history. 2/2

— Brad Garlinghouse (@bgarlinghouse) September 25, 2021

In his interview with Liz Calman, Garlinghouse had expressed similar sentiment as he had stated that there is a continuous lack of clarity as for crypto and the industry in the US could only survive if clarity is provided.

He criticized Chairman Gensler on his remarks regarding regulatory clarity as he said, while at one point Gensler says “hey, there is clarity” and on another he called on congress to make laws for clarity, these two contradictory stances could not exist.

Garlinghouse is not the only one concerned about the lack of clarity, rather, last Friday US Senator Pat Toomey wrote a letter to Chairman SEC seeking clear guidance on Crypto regulation.

To point out SEC’s sketchy behavior Garlinghouse also referrers SEC-Coinbase face off, as a consequence of which the exchange has put the launch of its lending service on hold.

Gensler further noted that the crypto market is already regulated through CFTC, Fintech, US treasury and other government agencies as he said the people saying that crypto is like wild wild West are not entirely true.

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Over $400 Million Liquidated in the Crypto Market After China FUD News

The bitcoin bulls had a rough start to the week, with the cryptocurrency’s price plummeting from $48,000 to about $43,000 in a matter of hours on Monday. The scenario only became worse over the next two days, when BTC dropped by another few thousand dollars.

As a result, it hit a low of $39,600 on Wednesday, its lowest level since August 6th. However, at this moment, the pattern began to shift once more. Bitcoin quickly rebounded and recaptured $40,000 before continuing upwards to the $44,000 level.  The market has unexpectedly turned red today as a result of what appears to be a new wave of regulatory attempts in China to crack down on cryptocurrencies.

China And Bitcoin

China’s efforts to crack down on the entire bitcoin economy are continues. The People’s Bank of China (PBoC) produced a document warning people that digital assets are illegal in China, and that using exchanges is likewise illegal.

As a result, BTC dropped $3,000 in less than an hour. It didn’t end there the price dropped below $41,000 before rising to roughly $41,400. This resulted in a large number of liquidated positions, the majority of which are longs.

If you saw any Chinese regulatory Fud again, that announcement was posted on September 3rd. Don’t fall for it.https://t.co/KFghcCiqN4 pic.twitter.com/ZUPHPCVASp

— Molly (@bigmagicdao) September 24, 2021

On Friday, the central bank underlined the illegality of digital assets once more. Financial institutions, payment businesses, and internet platforms are also prohibited from aiding crypto trade, according to the statement.

The bank stated that it would improve its monitoring of all digital asset transactions. Furthermore, China’s central bank has intensified its anti-mining campaign, which began in May.

BTC is currently standing at $42,223.93 with the change of 4.33%. At the time of writing coin’s market cap is $793,025,895,993 with 24 hours volume of $40,966,611,283.

More than $418 million in longs and shorts were wiped off the market, with longs accounting for about 70% of the total. On OKEx, the largest single liquidation order was a BTC order with a face value of nearly $7 million. Binance was the site of the majority of the liquidations, accounting for roughly 33% of the total.

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Ripple Grants $2 Million to Developers, as the Firm Focuses Specifically on NFT Market

Developers arm of San-Francisco based software company, Ripple, grants $2 million to developers.

Ripple Announced First Wave of Grants Issued

According to an announcement on Dev Community, RippleX have recently granted approximately $2 million to 25 developers from across the word. Announcement noted that developers approved for grants are selected from over a batch of 100 incredible applicants.

Among 25 awardees are individuals and teams. Whereas three of them are chosen from within Ripple’s University Blockchain Research initiative.

While individuals and teams with NFT development on their radar across different sectors I.e.art, sports, music, digital advertising, retail and carbon capture, are given a special importance,  grants are not limited to them. Rather, grantees also include developers building on XRPL, learning tools to interact with the ledger(XRPL), data visualization tools and payment and security solutions.

Project ledger City, 3d visualization, Bithomp, and Audiotarky, music streaming platform, are granted $200,000 each.

On selection of awardees announcement stated:

The projects that are getting funded by RippleX deal with a broad selection of issues such as the development of non-fungible tokens, educational tools for interacting with the XRPL as well as payment solutions.

Ripple’s Expansion

Lately Ripple have been expanding in all directions possible, from providing payment solutions and CBDC services to NFT development.

Just recently Ripple announced its partnership with Bhutan’s Central Bank, to help the nation build its Central Bank issued digital currency and to run a pilot program.

With that Bhutan became second country, after Brazil, to join Ripple with mission to build CBDC and run pilot program, after the firm announced running similar programs back in March.

Despite all the productive developments Ripple is coming up with, it is still not speared from the impact of SEC lawsuit. Just a day earlier Ripple is denied discovery into SEC internal communications on Crypto.

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1xBit review: reasons to visit it

The biggest attraction of 1xBit is that its bets are exclusively in cryptocurrencies. Its possibilities are wide, since you can access sports betting, live casino games and slots. Due to the aforementioned, many players have preferred 1xbit.com as their favorite online gambling site. No wonder, cryptocurrency transactions guarantee total anonymity and extreme protection of users’ money. Certainly, this portal has come to revolutionize the world of virtual stake.

1xBit casino has excellent bonuses and promotions, which will only be available upon registration. Each of the bonuses is conditional. These can be withdrawn only if they bet their equivalent 40 times.

The player will be able to have access to weekly prizes, they can try to beat 1xBit and opt for 10 BTC, bonuses for bets made, even if they lose. It also has a rebate bonus called Advance bets. This reimburses a percentage of the bet to the player under certain conditions. You also have the «combination of the day» to apply in sports betting. As if that were not enough, 1xBit offers betting insurance. This can be in two modalities: total or partial. To learn more about these and other offers, it’s better to subscribe.

Advantages of the 1xBit live casino crypto

Over 500 games are collected in this online casino, which is guaranteed to relieve you of boredom, regardless of preference. Although the number of products is still small, everything is presented here: colorful slots, classic gambling entertainment, games with live dealers. The 1xBit live casino crypto offers games with live dealers from twelve studios. All the tables are available, at which cute girls deal cards for playing:

poker;
blackjack;
baccarat
and also spin the ball on the roulette wheel.

Games with live croupiers are good because they allow you to bring the atmosphere of an online casino as close as possible to land-based establishments.

The fact of having the security provided by the rigorous encryption of cryptocurrencies gives the bettor confidence to bet on 1xBit. There are no intermediaries, personal data remains hidden and money is optimally safeguarded. The best thing is that it has a mobile application, both iOS and Android. Another aspect to take into account when opting for this site is the variety of possibilities offered by the crypto 1xBit live casino in gambling. From conventional sports betting to eSports, without leaving aside the classic slots and table games.

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