260 days ago
After the market’s astonishing recovery, Solana (SOL) has entered another consolidation phase leading to lower volatility which gives the bulls much-needed rest after capturing huge gains. According to Coingecko, the token is down a measly 2% in the past 24 hours but is still in the green at the 30-day timeframe at over 9% gains. Related Reading: ARB Surges Nearly 10% As Franklin Templeton Launches Fund on Arbitrum Although SOL gained a lot during the market’s strong rebound, there has been some news that has also affected the token’s movement, hampering growth while shaking some investors off of the token. Major Vulnerability Patched Quietly Just last Thursday, a vulnerability was detected by the Solana Foundation, leading them to release a quick patch that resolves the issue. According to Solana validator Laine, the vulnerability was known after members of the Solana Foundation reached out to them, advising of an upcoming security patch along with the date and identifier for the incident. Anatomy of a patch In the past few hours a critical security vulnerability and patch were disclosed on Solana, this public disclosure occured after a supermajority of stake had already been patched to protect the network. Let’s look at how this process unfolded and how 70% of… — Laine ❤️ stakewiz.com (@laine_sa_) August 9, 2024 After 24 hours, a patch was pushed through to GitHub making it accessible to stakers. It included the patch itself along with instructions for verifying the downloaded files. All this happened under strict confidentiality. “During the next 24 hours several other core members reached out to confirm readiness and reiterate the need for urgency and confidentiality,” Laine stated on their X post detailing the incident. This led to some members of the Solana community questioning the decision to keep the incident hush-hush to the broader public which was only after the incident. “Another act of centralized control, by Solana. The key is to manage to contact enough stake to protect the network while retaining confidentiality. The power to select and contact validators concentrates influence in the hands of just a few. This undermines the network’s decentralization, which is typically a blockchain’s main defense mechanism against censorship and collusion. What could stop you from doing this same process to introduce exploits into the blockchain too?” Dave, a commenter on the post, said criticizing the “centralized” decision of the devs and stakers. https://t.co/wLBpweefdz — Solana (@solana) August 9, 2024 In light of this, the official X account of Solana posted a “Letter to the Solana Ecosystem,” which seems to be in response to the public announcement of the security vulnerability and the subsequent patch. The post only reiterates certain events within Solana. Hampered Investor Confidence Leads To Slight Dip The market is not only the factor that influences SOL’s price. The guts of the platform and how it creates and builds value influence this as well. This is best shown by the SOL’s current price movement which reflects the slight loss of confidence by investors on Solana. Related Reading: XRP Market Cap Explodes By 23% In A Day As Whale Appetite Soars As of now, SOL bulls are still trying to stabilize around the $147.93 and $159.83 price range where they will remain until the fear, uncertainty, and doubt dies out. If they are successful in taking control of this price range, we might see SOL at a higher price floor, possibly reaching $186 in the coming months. Investors and traders should monitor Solana’s communication channels to distinguish whether other investors are still bullish on the platform. Featured image from Mudrex, chart from TradingView
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Investors Flock to XRP as ETF Applications Surge
XRP is gaining traction in the financial world with increasing ETF applications. Institutional interest in XRP-based products is rapidly growing. Continue Reading: Investors Flock to XRP as ETF Applications Surge The post Investors Flock to XRP as ETF Applications Surge appeared first on COINTURK NEWS . NewsBTC
Cardano and Solana Holders Are Piling Into a New Token Dubbed ‘XRP 2.0’ by Investors
Cardano and Solana investors are now witnessing a massive hype and anticipation wave as they eagerly look forward to a new token that has been affectionately dubbed by investors as ‘XRP 2.0.’ While larger ecosystems such as Cardano (ADA) and Solana (SOL) keep expanding and developing, the majority of fans and investors of these cryptocurrencies are now turning towards RTX . This is not merely coincidental; RTX has been referred to as “XRP 2.0,” which speaks volumes about its new and improved approach to the intricacies involved in worldwide money transfers. Given these events, let’s take a closer look at the reasons why Remittix is now garnering so much attention and interest from the crypto world and beyond. Remittix (RTX) Momentum Builds Among Investors Momentum continues to build and gather strength for Remittix, popularly referred to as RTX. Remittix has been able to amass a staggering amount of over $14.6 million, trading at a current price of $0.0757 for every token. Besides this success, the firm has also sold over 529 million tokens to investors. As per the analysis presented by Mitrade , this fast and high rate of growth is reflective of the high degree of confidence that investors have in the practical and real-life use of RTX in the large and continuously developing worldwide remittance market. Analysts working with CoinCentral have done a comprehensive review versus Remittix, comparing it to the infrastructure being leveraged over at Ripple. They have praised its phenomenal ability to reduce fees considerably while pointing to the immense speed with which transactions are processed and settled. Remittix has a very clear and differentiating use case that makes it stand out, in a sense giving it a huge edge not just over speculative meme coins but even over platforms that are a bit slower in nature. There are several reasons why increasingly more Cardano and Solana investors are embracing the current trends existing within today’s market. Why Cardano and Solana Investors Are Joining the Shift The latest addition of XRP to Cardano’s Lace Wallet speaks volumes about the platform’s firm dedication to bringing about interoperability between different cryptocurrencies and blockchain networks. Nevertheless, in spite of this remarkable development and enhancement, ADA’s price still exhibits a mediocre performance, trading at the $0.65 level. Source: TradingView Meanwhile, Solana’s outlook is mixed. SOL is now trading at a price very near $148.52, and based on technical analysis, there are signals that indicate the possibility of rallies or breakdowns in its price. Cointribune has reported and explained this in detail. According to CryptoDnes , the enthusiasm and hype for Remittix are continuously growing since it is offering users instant financial use cases that are proving to be greatly useful to them. Why Investors Are Calling Remittix ‘XRP 2.0’ Remittix’s focus on enabling cross-border payments is indicative of the core purpose that XRP is representative of, but it differs by taking an innovative and contemporary approach that differentiates it from conventional practices. The professionals at CryptoTimes have the opinion that there are market segments that have remained unpenetrated or unreached by XRP, but which can be captured by RTX. Given the large and valuable remittance market that we have today, it is evident that the potential growth prospects of Remittix may be huge and sizable if the adoption trend continues to evolve. Along with this, several platforms, including CryptoDnes , are predicting that if Remittix’s growth keeps speeding up, it can go on to stand alongside some of the bigger names in the cryptocurrency market, including more established players like BNB and Dogecoin. Conclusion: Remittix (RTX) Is Gaining Real Traction The exodus of investors from Cardano and Solana to the new platform called Remittix (RTX) shows that there is a dramatic shift in the focus and priorities of the market. Instead of just putting their bets on possible upgrades to platforms or depending on other institutional narratives, many are now focusing on projects that are aimed at tackling and solving real-world financial problems and issues encountered by individuals in their day-to-day lives like Remittix. Sending and receiving money from anywhere just got so much easier with Remittix, especially with its PayFi system that allows crypto-to-fiat transactions . These factors combined are setting Remittix up to not just garner the attention of investors but also to solidly secure its position as an industry leader for 2025 and for many years to come. The focus on making transactions easy to conduct across international borders is especially appealing to a huge base of users looking for payments that are as fast as they are affordable. This factor is majorly responsible for the sustained popularity of RTX. Get a chance to be a part of the future of cross-border finance with Remittix, especially while the prices are at a nascent stage and favorable level conducive for investment. Website: https://remittix.io/ Socials: https://linktr.ee/remittix Disclosure: This is a sponsored press release. Please do your research before buying any cryptocurrency or investing in any projects. Read the full disclosure here . NewsBTC
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Incoming XRP price crash alert
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