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India Proposes a Global CBDC Interoperability System

The RBI which is the central bank of India has recently introduced a new concept known as the “plug-and-play” that is going to make cross border payments better. This system will also assist in enabling proper connection between numerous CBDCs of different central banks.

RBI Governor Shaktikanta Das emphasized that ensuring compatibility of these systems with each other would result in optimum benefit. This could help in accelerating the payment between nations and as well help to bring down the cost.

However, a challenge remains: Other countries may want to create their own system based on domestic circumstances for that nation. In this regard, Das was offering a structure that is highly scalable and will also pay respect to each country’s sovereignty.

India has already started implementing this idea and they expect it will be of great help to many countries. Adding to that, Das mentioned that for real improvement, CBDC systems should be interconnected. Also, conventional payment systems from various nations must also be able to interface with CBDCs.

India assumed the G20 presidency in December 2022.It has also intended to introduce new rules on digital assets which are expected to be released later in the year.

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Solana Sees 40% Surge in Trading Volume

Solana (SOL) has perceived a 40% boost in trading volume and that might be on the path of recovery. This surge occurred after a period of inactivity of SOL, dealing with issues concerning network outages and market competition.

The recent rise in trading volume shows a fresh demand for Solana indicating the platform is a high throughput and low transaction costs. Market analysts suggest that the spike was led by different factors like:

Recovery in the cryptocurrency market
Increased activities of developers in the Solana Network
Growing interest in Decentralized Finance (DeFi) and Non-Fungible Tokens (NFT) build on Solana’s infrastructure

Solana has maintained a strong developer community and a robust ecosystem. The network can handle thousands of transactions per second at very low fees. This makes Solana a viable alternative to Ethereum for their operations. This surge depicts the recovery of Solana as the trading volume increases. However, while the volume has gone up it is yet to be seen if this will bring about steady rises in the prices of the various products.

As Solana will be experiencing such important weeks, people in the market will closely watch the activities. The increased traffic means the comeback of SOL revival or new troubles while there could arise further challenges.

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DOGS Meme Coin Causes Major Disruption to TON Blockchain

TON, the Telegram Open Network was recently disrupted by the introduction of a meme coin called the DOGS. On 28 August, TON stopped to take new transactions and create blocks for more than six hours. This was due to an increased activity, after the release of DOGS on August 26.

They declared that the instability of the network was coming from the large expectation of DOGS in Tonk Inu. Tonk Inu is a community platform in TON. The meme coin soon became popular after it was listed on exchanges such as Binance and OKX. It was listed with a trading volume of $1.7 billion in just 10 hours. Nevertheless, the price of token DOGS declined from $0. 0018 to $0.

The last recorded confirmed transaction on the TON blockchain was made in block 45341899. This has left users worried about the network’s performances when there is congestion. The impact led to a 5% decline in Toncoin and saw a 28% reduction in trading volumes. 63%.Toncoin, which has been trending down since then, fell from $5.47 to $5.12.

As a result of the outage, a major cryptocurrency exchange Bybit halted all deposits and withdrawals in the TON network. Maintenance of the blockchain, the job of the validators, became difficult due to an increase in the number of transactions. A member of the TON Foundation said that validators are aware of the fact that they have to restart the network to bring it to its normal state. The constant airdrop of the DOGS memo also caused congestion on the TON network. It slowed down Binance’s upgrade process for the network.

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Bitcoin Enters the “Banana Zone”: Analyst Predicts Wild Market Swings

Bitcoin is moving into what one analyst has termed the ‘Banana Zone’, where prices could revolve randomly. The term sums up the unpredictable and chaotic character of the present Bitcoin market.

As per the analyst, stable phases have ended in Bitcoin. The market is showing signs of returning to its unpredictable behavior, with frequent ups and downs. The “Banana Zone” is a chart plot where the price of Bitcoin could fluctuate very erratically. The investors are not sure of the next course of action.

Fluctuations in the macroeconomic environment, improvements or regulation changes, and changes in investors’ attitudes cause such instability. At this point, Bitcoin is floating close to the support and resistance levels. The traders for the rate that may greatly spike and cause substantial gains, as well as consequential losses.

The term has quickly entered the mainstream technical lexicon associated with bitcoins and the future speculation on how long it will last in this state. Some view it as a profit-making opportunity due to short-term price fluctuations. But some view it as a lot of danger due to its volatility.

Only time will tell if BTC will remain range-bound in this “Banana Zone” or if the market will continue to swing in a huge fashion. As seen in the unpredictable periods of the cryptocurrency markets, investors bear high levels of risk and ought to be ready to make the most of the threats in addition to opportunities available.

Kaspa Faces Potential 50% Price Drop as Market Uncertainty Grows

Kaspa (KAS), a cryptocurrency that grabbed attention as a possible next-generation blockchain, has experienced a significant price drop. The trader has warned predicting KAS could lose up to 50% of its value with the token being at its worst month.

The warning comes as a challenge for Kaspa as the token shows signs of a decline in the cryptocurrency market. The major reasons recognized are rising volatility levels, decreasing volumes of trading activities, and uncertainty in the cryptocurrency market. Traders analyze that if this continues, Kaspa can face a drastic fall and lose recent gains. This can cause investors at vulnerable to significant losses.

Kaspa gained a lot of attention in the initial phase due to its innovative approach to the blockchain. It experienced massive growth and adoption in recent months. However, the current market is testing the resilience of the token and its community. The potential drop of 50% could discourage new investors and shatter the assurance of existing investors. This has created sinking pressure on the price.

Thus, as long as the crypto market remains indeterminate, Kaspa’s traders & investors are advised to remain alert. Also, they need to keep abreast of the latest inclinations to seek possibilities. Hence, the following weeks will be critical in understanding whether Kaspa can recover, or if other difficulties may arise.

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Base Network Surpasses 1 Million Daily Active Addresses for the First Time

The Base Network crossed 1 million daily active addresses, creating a significant milestone in the decentralized finance (DeFi) landscape. This is the first time that Base Network has reached this milestone. The milestone signifies the beginning of the next phase in the rapid evolution of Base Network.

Base Network is an Ethereum Layer 2 scaling solution developed by Coinbase. The Base Network is a cost-effective and scalable alternative to the Ethereum mainnet. This has led to the increasing number of daily activities of the Base Network. It shows that interest of users are growing in the Layer 2 solutions. Diverse users are attracted to it due to the high transactions at low fees. From retail traders to investors, are seeking possibilities to capitalize on benefits from Layer 2 technology.

The rise in the activities also depicts the vast uptrend in DeFi. The users are inclined toward decentralized solutions for trading, lending and more. Thus, with the advanced technological platform and support of Coinbase, Base Network has become prominent for the further development of decentralized Finance.

As the Base Network gains more popularity, there are chances of innovations in the DeFi environment. Therefore, the achievement made in the daily active addresses by reaching 1M points to the bright future of Layer 2 solutions in the blockchain market.

Binance Urges U.S. Help as Exec Marks 6 Months in Detention

Binance CEO Richard Teng wants the U. S. to intervene. As, Binance executive Tigran Gambaryan, a former U. S. federal agent, has been in detention in Nigeria for six months. Gambaryan was detained in February 2024 with another employee, the British-Kenyan Nadeem Anjarwalla, at an airport in Abuja. While Anjarwalla was able to escape Nigeria in March this year, Gambaryan is still incarcerated with his situation becoming worse.

Teng states that Gambaryan has many health problems such as a slipped disc and is bedridden most of the time. Despite the state of his health, Nigerian authorities have refused to provide him the medical attention. Legal warrants for his medical records, as well as humane treatment, have also been violated by the court.

Teng is appealing to the U. S. government quoting humanitarian reasons to consider Gambaryan in the list of unlawfully detained citizens. He continued to argue that the detention is not warranted.As, Binance has resolved legal matters in other jurisdictions without force.

As stated at the office of Gambaryan’s family, his attorneys have been prevented from seeing him since July 25, 2015. Although they were only allowed to visit him on August 15, 2015 briefly. This has made it difficult for the team to prepare for his trial, a situation that is unfavorable according to the Nigerian law.

While Gambaryan remains detained, Binance is urging the U. S. authorities and the international organizations to act and free the man.

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SEC Charges Brothers in $60M Crypto Ponzi Scheme

The U.S. Securities and Exchange Commission(SEC) charged brothers Jonathan and Tanner Adam with running a $60 million Ponzi scheme using sham crypto trading bots. The scam affected nearly 80 investors who invested in the said company.

He and Tanner conducted their business through two firms namely GCZ Global LLC and Triten Financial Group LLC. They vowed to help investors earn big profits by employing use of automated crypto bot to hunt for revenue making opportunities. However, the cooperatives utilized the money on personal expenses and for to pay others who had invested in the scheme, which is characteristic to a Ponzi scheme.

The scheme was between January 2023 and June 2024. The brothers tendered themselves that they would give the investors a 13. 5% monthly return rates of their investment. They said that they were using the money to fund smart contracts as well as arbitrage trades. However the SEC was to discover that there was no such thing as a trading pool. The investors’ capital was embezzled thus used to cater for personal needs.

In its complaint, the SEC said that Jonathan Adam, who previously had securities fraud convictions. He deceived customers through providing fake credentials. The scam raised $61. 5 million. Of this, $53,The staff spent $9m on compensations and stole US$2m. They utilized the cash to buy a condominium in Miami worth $30m, a house in Texas worth $1.8m, and $480 000 on cars and other luxuries.

They left $400,000 in the accounts yet spent the big deal of the funds. From this result, it is clearly seen that they did not use the money as stated. Also, they invested the money but did not protect it.

It shows that the occurrence of crypto scams is becoming higher with the expanding of trading in cryptocurrencies. The SEC’s actions prove that there is a need to introduce higher standards in the crypto industry as a way of safeguarding investors from con artists.

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Shiba Inu to Launch DAO, Empowering Token Holders

Shiba Inu has a new decentralized autonomous organization (DAO) on the horizon that puts it in a different league. This step might bring the token holders in the company more influence in the direction of the project.

They will also be able to govern the DAO hence participate in the decision making of Shiba Inu. This would make it a part of Shibarium ecosystem which would consist of tokens like BONE and LEASH. It is not clear when precisely the concept of the DAO will release.

Shiba Inu coin emerged from the meme coin population but has since expanded to become a project. Now it has its own decentralized exchange, the blockchain, and such service as liquidity mining. It is thus seen as a means of extending more decentralisation of the community in the operations of the new DAO.

The DAO is to comprise of two central councils. Charity Council’s primary goal will be the further promotion of the token and the development of supporting initiatives in the field of charity. Therefore, the Culture & Heritage Council will engage in their efforts to protect the community ad maintain Shiba Inu’s fundamentals.

The DAO is expected to increase the utility and use cases of the token as well as provide means for every holder to shape its future. It could help Shiba Inu to build a better stance in the saturated world of cryptocurrencies.

In total, the DAO is another step in the development of Shiba Inu from the status of a meme coin to a much more worthy and useful project involving its users.

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$69 Million Ethereum Transfer Sparks Market Speculation

With a significant development in cryptocurrency, investors and analysts are looking deeply into the major crypto exchange. The recent transer of Ethereum (ETH) $69 million to a Crypto exchange prompts investors and analysts to look deeper . This move led to great speculation on the possible leads to conducting such a transfer, and the possibilities of thereby affecting the Ethereum market.

The transfer involved about 41,000 ETH, which was equivalent to about $69 million at the time of the exchange. An anonymous address transferred the money to one of the largest cryptocurrency exchange platforms. The large transaction suggests that the market is changing or that something big is about to happen. The transfer will be a highlight as big transactions could become major prompts for shifts in the market.

The motive for the transfer is still unclear. This has developed many hypotheses in the cryptosphere. Some have also suggested that the transfer may well to a sale, meaning a temporary decline in the price of Ethereum. Some even identify t with transactions institutional investors, which might be shifting their money for tactical holdings. This is supposed to undertake certain positions, or otherwise for the following market segments.

Ethereum, the second-largest cryptocurrency by market capitalization has been experiencing stability in the past few weeks. Nevertheless, such large transactions as a measure lead to volatility in the market based on the later activities that are carried out.

However, effects of the $69 million transfer will be in the market very soon. This may be an alert to investors to keep an eye on the potential effects of the decision on Ethereum’s short-term and long-term performance.