Mediaboss Marketing

Ripple XRP/USDwas up 5% in the past 24 hours despite a negative day for Bitcoin BTC/USD and Ethereum ETH/USD, as news of the Commodities and Future Trade Commission, orCFTC, filing a lawsuit against Binance and its CEO Changpeng Zhao spreads.

What Happened: XRP Network is witnessing a surge in popularity, with its social dominance reaching its highest point in a year. This resulted in XRP soaring above $0.49 for the first time since Nov.6, 2022,according to the Santiment data tracker.

See Also: Top Indian Apps That Give Bitcoin, NFT Rewards

The data analytics platform said that increased crowd recognition for XRP has driven greater volatility in prices, fueled by an influx of greater trading volume and mainstream attention.

At the time of writing, XRP was trading at $0.47. The trading volume of XRP has increased by 55% reaching $2.1 billion in the last 24 hours, according to LunarCrush Data.

In the past 24 hours, data from CoinGlass reveals that a staggering $7.65 million worth of XRP was liquidated.

Overall 52,674 traders were liquidated inthe past 24 hours, with the total liquidations standing at $149.92 million.

Price Action: BTC was trading at $26,966, down 3.50%. ETH at $1,713 down 3.07% in the last 24 hours, according to Benzinga Pro data.

Read Next: Bitcoin, Ethereum, Dogecoin Slide After CFTC Lawsuit Against Binance: Analyst Expects Apex Crypto To Touch $30K If Macroeconomics Remains Favorable

Read this article:

Ripple Soars 5% As Social Sentiment Peaks Even As Bitcoin, Ethereum Sink - Benzinga

gopixa

While ethereum (ETH-USD) remains the dominant blockchain in decentralized finance (DeFi), the adoption and usage of the operating system could retreat if it's unable to boost transaction speed, according to a recent note from Bank of America.

We view Ethereums long-term viability as dependent on its ability to fulfill the vision laid out in its road map, which includes implementing sharding architecture to expand its throughput capacity significantly, analyst Alkesh Shah wrote.

In the cryptocurrency world, throughput is a metric that measures how many transactions a blockchain can process per second. So, if ether's (ETH-USD) throughput isn't increased, then application developers will likely tap other blockchains to build on, he contended. So-called sharding refers to the splitting of the blockchain into smaller pieces, or "shards," to support a larger number of users.

The solana (SOL-USD) blockchain, meantime, can complete "way more transactions per second than Ethereum," Bradley Duke, co-CEO at digital asset investment firm ETC Group, told Seeking Alpha via email. But the former "has not gained greater market share of DeFi because far more people trust Ethereum to run smoothly, stay secure and keep its state data in sync than they do for Solana.

BofA's Shah explained that the smart contract-enabled platform of ether (ETH-USD) gave the blockchain a "first-mover advantage as developers building applications gravitated to it." That, in turn, led to network effects, he added, as the number of decentralized applications and users both expanded. Smart contracts are programs stored on a blockchain that automate certain actions required in an agreement (think of if-then logic).

All in, the ecosystem's early success "became a double-edged sword as the number of transactions became so large that network congestion occurred," driving up average transaction fees.

Ether (ETH-USD), changing hands at $1.76K as of Friday afternoon, has shot up 45.5% since the start of 2023 after enduring one of its worst years on record. From a year ago, the token was still down 44%, battered by a series of high-profile bankruptcies in the industry, increased regulatory scrutiny and economic uncertainty.

See why SA contributor Dhierin Bechai thinks ETH is a Buy.

Read more here:

Ethereum is at risk of losing its dominant status in DeFi here's why (ETH-USD) - Seeking Alpha

For the third straight week, Ethereum [ETH] investment products failed to attract the purses of digital asset investors, CoinShares 27 March report revealed.

According to the report duly delivered by James Butterfill, the altcoin faced the same fate as that of the previous weeks, seeing a $5.2 million outflow.

However, products linked to Bitcoin [BTC] had the opposite experience as the inflow was as high as $127.5 million. Every week, CoinShares discloses the activities with respect to crypto Exchange Traded Products (ETPs) across several countries.

But before the latest report, both Bitcoin and Ethereum were on the same page. This was largely due to the instability in the traditional finance sector.

However, the trust issues with the banking sector seem to have resulted in gains for the crypto ecosystem. By and large, the overall inflow totaling $160 million was the highest since July 2022.

This hike implies that the level of trust in crypto products was high at the expense of traditional institutions offers. CoinShares was of the same view even though it admitted that the inflows were relatively low at the beginning of the previous week. The report stated:

While the inflows came relatively late compared to the broader crypto market, we believe it is due to increasing fears amongst investors for stability in the traditional finance sector.

But why has Ethereum failed to take a significant share of the input since it was the second-largest cryptocurrency in market value? Well, the long-standing investment group opined that Ethereums decline could be due to several factors. And like CoinShares opined last week, the Shanghai upgrade topped the list. The trading firm pointed out,

We believe investor jitters around the Shanghai upgrade (expected 12th April) are the most likely reason

The event, expected to happen in a few weeks, would set the grounds for staking withdrawals which could, in turn, result in selling pressure.

Besides that, recent Ethereum developments have not necessarily resulted in a positive price action. So, it could be valid that investors are being skeptic about committing funds to products related to the altcoin.

However, Bitcoin was not the only claimant with respect to improved inflow as some other altcoins joined the fray. For instance, Ripple [XRP], which outperformed several cryptocurrencies in the past week got inflows worth $1.2 million.

Polygon [MATIC], and Solana [SOL] received inflows worth $1.9 million and $4.8 million respectively.

Here is the original post:

Ethereum suffers yet another weekly outflow, but how did BTC perform - AMBCrypto News

Ethereumis known not only as the second-biggest cryptocurrency but also as the second-generation cryptocurrency. The blockchain not only brought Decentralized Finance (DeFi) to the crypto space but also framed a target on its back following its Proof of Stake transition plan. A target that regulators have aimed and shot at repeatedly.

XRP price has kept its momentum, flashing green on the one-day timeframe as the countdown to the Ripple vs SEC lawsuit continues. The remittance token is moving in tandem with our predictionlast week, soaring by a significant margin to secure a place among the best-performing cryptocurrencies on a one-week timeframe.

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.

Continue reading here:

Cryptocurrencies Price Prediction: Ethereum & Ripple Asian Wrap 28 March - FXStreet

The Q1 sales figures for Ethereum and Polygon-based non-fungible tokens (NFTs) on OpenSea are on track to register the lowest monthly volume of the year so far, according to data from Dune Analytics.

Ethereum-based NFT sales on the marketplace soared to a nine-month high of $643.61 million by the end of February. However, with four days left to end the first quarter of the year, OpenSea has logged $324.30 million in Ethereum-minted NFT sales in March, representing a 50% decline in sales volume from the February high.

Following a record-breaking NFT sales volume of $109.12 million in February, sales of Polygon-based NFTs on OpenSea have experienced a sharp decline this month. Over the past 26 days, only $2.5 million in sales volume have been recorded, indicating a staggering 97% drop in sales.

The steep decline in sales volume of Ethereum and Polygon-based NFTs on OpenSea was attributed to the drop in the count of NFTs sold so far this month.

Regarding Ethereum-minted NFTs on OpenSea, 715,925 NFTs have been sold so far. This represented a 16% decline from the 853,391 total NFTs sold in February and a 37% fall from the 1.13 million total Ethereum-based NFTs sold in January.

Regarding Polygon NFTs on OpenSea, sales have plummeted by 93% this month, with only 35,064 NFTs sold compared to the 565,964 NFTs sold last month, and a 98% decline from the 1,514,895 NFTs sold in January.

Data from DappRadar revealed a steep decline in key growth metrics for leading NFT marketplace OpenSea since the year began.

For example, the count of unique active wallets that trade on the marketplace has dropped by 98% in the last 90 days. Likewise, the transactions count on OpenSea has witnessed a 99% decline during the same period.

The decline in OpenSeas dominance is attributable to the launch of Blur, which has gained significant traction since it became operational in October 2022.

According to a recent report from Glassnode, Blurs market share experienced a notable surge following the airdrop of its token on 14 February.

Before the distribution of the BLUR token, the NFT marketplace and aggregator held 48% of the NFT transfer volume across the entire market. However, the airdrop led to a significant increase in Blurs NFT transfer volume, which soared to 78% at its peak.

During the last week, Blur accounted for a significant portion of the total NFT sales volume, representing 73.8% of the market share. In contrast, OpenSea held a smaller share of 17%.

Excerpt from:

OpenSea sees a slump in Ethereum and Polygon NFT sales; Details inside - AMBCrypto News