Zinaida, Author at CryptoTale

Coinbase announced the launch of its layer 2 blockchain built with Optimism’s OP Stack, Base. The...

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Vodafone DAB and Aventus Unite for Web3 Adoption in Economy of Things

Vodafone DAB and Aventus unite for blockchain-based tech adoption in the Economy of Things. The collaboration...

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Crypto Cyberattacks Surge: BlackBerry Reveals Top Targeted Malware

BlackBerry's cybersecurity arm reveals over 1.5 million thwarted attacks between March and May, with hackers targeting...

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Coinbase Likely to See Non-Trading Revenue Surpass Trading in Q2

Coinbase's non-trading revenue may surpass trading revenue in Q2 2023, as per Messari. Despite a dip...

In July 2023, MakerDAO surged by 47%, with XRP and Stellar also following suit. MakerDAO's EDSR proposal and XRP's court win fuel market rally. Stellar's XLM leaps, riding on off-ramps revelation by its Foundation. The cryptocurrency market rebounded in July 2023, with several tokens experiencing impressive growth following a series of market downturns. Leading the resurgence was MakerDAO (MKR), which enjoyed a staggering 47 percent surge in July, closely pursued by Ripple's XRP and Stellar's XLM, recording considerable gains of 46.6 and 35 percent, respectively. One of the key drivers behind MakerDAO's ascension was the introduction of a successful token buyback program, which had a positive impact on the token’s market dynamics. The MakerDAO community further reinforced this bullish trend by passing an innovative proposal - the Enhanced Dai Savings Rate (EDSR). EDSR, which could temporarily boost interest rates for DAI holders by as much as 8%, is specially designed to assist in early-stage bootstrapping. The mechanism ensures that the rate can only decrease over time, even if the utilization of DAI decreases. This strategic move appears to have ignited investor interest, as reflected in MakerDAO's sustained strong performance, with a further 15 percent growth over the past week to trade at $1,333.46. Meanwhile, Ripple's XRP rode a wave of positive news. A court ruling clarified that the token sales on exchanges do not constitute an investment contract, allegedly propelling a rally that nearly doubled the price of XRP. Despite the recent dip, the future for XRP seems promising, especially with the tantalizing prospect of significant announcements from the leading cryptocurrency exchange Bitstamp. Not to be left behind, Stellar's XLM token showed an appreciable surge, ostensibly triggered by a comprehensive research paper issued by the Stellar Foundation. The document, which shed light on Stellar's off-ramps, sparked a 12 percent surge in a single day. It significantly shifted investor perceptions and triggered a trend towards more fundamental-based moves. In summary, July 2023 promises hope for the crypto market, signaling a robust recovery. With a flurry of promising developments and a shift towards a more optimistic market sentiment, investors and market enthusiasts eagerly anticipate further growth and potential gains in the months ahead. Disclaimer: The price analysis published on CryptoTale is for informational purposes only. Readers should exercise their judgment and conduct independent research. CryptoTale is not liable for any damages or losses arising from using the price analysis.

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Crypto Market Rebounds in July: MKR, XLM, and XPR Lead the Park

In July 2023, MakerDAO surged by 47%, with XRP and Stellar also following suit. MakerDAO's EDSR...

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Hyundai And Kia Introduce Blockchain-Powered CO2 Emission Tracking System On Hedera

Hyundai and Kia partner with Hedera to launch AI-Powered CO2 Monitoring. Hedera-backed Supplier CO2 Emission Monitoring...

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Binance Defies China’s Crypto Ban: Trades $90B in China in a Month

Binance defies China's crypto ban, facilitating $90 billion monthly transactions in China. Despite claims of leaving...

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Analyst Foresees Bullish Bitcoin Trend Amid Contrasting Opinions

Van de Poppe identifies Bitcoin's bullish trend, similar to past cycles. Brandt calls 2024 halving and...

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Analyst Reveals Shifts in Ethereum’s NFT and Staking Markets

Ethereum's NFT marketplace only hit $568 million in transactions. Stellar performance by Blur's lending protocol, Blend,...

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Litecoin’s Hashrate Reaches New High Amidst Approaching Third Halving Event

01 Aug, 2023

Litecoin reaches new highs in terms of hashrate while the third halving event approaches. The altcoin’s...

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Analyst Unveils Key On-Chain Fundamentals for Bitcoin Market Cycles

01 Aug, 2023

On-chain indicators MVRV & Avg. Realized Price govern Bitcoin's cycles, acting as key resistance and support...

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On-Chain Analytic Indicates Decoupling of Cardano (ADA) From The Rest Of Digital Assets