Covers news and developments related to various alternative cryptocurrencies (altcoins) excluding Bitcoin
Cardano CEO @IOHK_Charles explores partnership with @Algorand for decentralized AI. Hoskinson suggests leveraging Algorand’s tech with AI-optimized proof of work. Algorand CTO Gary Malouf expresses interest. Cardano’s Chang hardfork delayed to Sept. 1, impacting $ADA.
Ripple CLO Stuart Alderoty criticizes SEC’s approach in $KRAKEN lawsuit. Federal court rules Kraken tokens are not securities. @Kraken’s Marco Santori emphasizes SEC’s flawed tactics. SEC faces a tough challenge in proving each transaction as a security.
Ripple mints 385 RLUSD stablecoins, pegged 1:1 to USD, on $ETH and $XRP Ledger. The stablecoin is fully backed by USD deposits with monthly audits. Testing is ongoing; regulatory approval pending. Ripple cautions against potential scams.
$TRX’s USDD stablecoin shifts focus from Bitcoin, transferring 4,000 BTC to HTX and reducing BTC reserves by 42%. Now 99% backed by $TRX, USDD’s collateralization rate exceeds 300%. Justin Sun aims to boost USDD’s competitiveness.
Justin Sun forecasts $TRX revenue hitting $4B with a meme strategy. Daily revenue peaked at $5.33M, beating $ETH and $SOL. The SunPump memecoin earned $585K in 24 hours. Plans to enhance USDD stablecoin to compete with $DAI.
Cardano’s ($ADA) price surges as the Chang Hard Fork introduces Plutus V3 and on-chain governance on August 27. Significant derivatives trader activity and breaking a 6-month trendline push trading volumes, aiming for $0.45.
Polygon processes 579.97B gas units daily at just $65.48K, outpacing BNB Mainnet and Ethereum in cost-efficiency. As DeFi grows, Polygon’s scalable solution attracts users seeking low-cost transactions.
Coinbase will migrate $MATIC tokens to $POL starting Aug. 26. Trading for both tokens begins Sept. 4. $MATIC transactions paused Aug. 26-Sept. 10. $MATIC staking rewards continue during migration. $POL enhances Polygon’s network efficiency.
Kamala Harris faces backlash over support for Biden’s 44.6% capital gains tax and 25% tax on unrealized gains, with crypto leaders questioning her pro-crypto stance. Critics argue the policies harm U.S. businesses and innovation. #Economy #Crypto
McDonald’s Instagram was hacked to promote $SOL-based meme coin GRIMACE, causing a temporary price spike. The hacker allegedly profited $700,000 before accounts were restored. McDonald’s Marketing Director’s X account also appeared compromised.
? Tron’s ($TRX) daily revenue hits $3.84M, surpassing Ethereum ($ETH) and Solana ($SOL), driven by the SunPump craze. Over 20,883 memecoins launched, with early investors seeing substantial profits, one gaining $20M from SUNDOG tokens. #crypto
Cardano ($ADA) plans the Chang hard fork for Aug. 27, with Sept. 3 as a backup. The upgrade, featuring PlutusV3 for enhanced security and governance, sees 80% node adoption but only 34% exchange liquidity. #Crypto #Blockchain
Tether ($USDT) boosts liquidity with $33B issuance on Ethereum and TRON in 2023. Market cap hits $116.93B, holding 69.49% dominance. Strategic reserve replenishment enhances stability and innovation, benefiting the broader crypto community. #Cryptocurrency #Blockchain
VanEck’s Solana ETF remains viable despite regulatory challenges. @MatthewSigel asserts $SOL should be a commodity due to its decentralization, with top 100 holders controlling only 27% of supply and over 1,500 validators across 41 countries.
