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Cardano founder Charles Hoskinson delivered a bold prediction during his keynote address at the Rare Evo 2023 event currently taking place in Denver.  Cardano, Hoskinson envisions, will evolve beyond a mere digital currency and transform into the cornerstone of an innovative digital nation, where trust between individuals is reinstated, and ethical principles take precedence. He asserts that Cardano’s unique attributes, including its emphasis on long-term sustainability, scalability, and interoperability, set it apart from competitors such as Bitcoin (BTC) and Ethereum (ETH). Notably, Cardano’s groundbreaking design, which segregates settlement and computation processes, bolsters both scalability and interoperability. Hoskinson also underlined Cardano’s significant contributions in emerging economies, particularly Africa. He firmly believes that blockchain technology holds the potential to revolutionize developing nations, tackling challenges like identity ver...

According to ChatGPT, Shiba Inu might reach $1 within the next 5–10 years. Reaching $1 from current levels translates to a growth rate of 12376137.62%. However, there are issues with SHIB reaching this price point. As per the forecast, Shiba Inu (SHIB) can attain $1 by attaining massive mainstream adoption and having high developmental activity. The AI chatbot mentioned that SHIB would have to become “a widely accepted form of payment or be integrated into popular platforms.” ChatGPT also said that SHIB would need “a large community of developers who create groundbreaking dApps and projects.” Also Read: Shiba Inu: If Price Hits $0.00001, How Much SHIB for $10 Million? The AI chatbot ended its prediction with “In the most optimistic scenario, with exponential growth and everything aligning perfectly, we might see SHIB approach the $1 mark in the next 5-10 years.” Can Shiba Inu actually reach $1? Source: Reddit If SHIB were to hit $1, the project’s market c...

The Reserve Bank of Australia has unveiled an ETH-based CBDC pilot program. The program saw participation from Ripple, Hedera, Binance, JPMorgan, Stellar, etc. Crypto lawyer Bill Morgan believes that it is a wholesale central bank digital currency. The Australian Central Bank recently announced a central bank digital currency (CBDC) pilot program based on the Ethereum blockchain. The new CBDC being tested by the Reserve Bank of Australia boasts Features like direct control, programmability, atomic settlement, etc. The central bank collaborated with the Digital Finance Cooperative Research Centre (DFCRC) on the blockchain research project. The Reserve Bank of Australia recently published a 44-page research pa p er that explored the Features and use cases of a potential Australian CBDC. One of the primary objectives in undertaking the research was to interact with industry participants in a live transactional environment to utilize the pilot CBDC. The pil...

Shopify announced over the past few days that it will be integrating with Solana Pay. Initially, merchants will only be able to accept payments in USD Coin (USDC). A symmetrical triangle chart pattern had formed on SOL’s daily chart which suggested a breakout may soon ensue. Over the past few days, Shopify, a dominant force in the e-commerce sector, revealed its incorporation of Solana Pay into its array of payment alternatives. This calculated fusion could empower a countless number of merchants on the platform to accept cryptocurrency transactions. Initially, Shopify will only endorse the well-established USD Coin (USDC) for payments. However, anticipations are high that this progress will set the stage for the broader acceptance of other cryptocurrencies in the upcoming period, encompassing Solana’s inherent digital currency SOL as well. An especially captivating facet of Solana Pay lies in its potential to significantly slash transaction expenses...

Rising interest rates, delayed Bitcoin ETFs, global financial turmoil and other regulatory pressures are contributing to the crypto market's underperformance. The crypto currency market has experienced a notable downturn recently, with the total market capitalization falling by 10% between August 14 and August 23, reaching its lowest point in over two months at $1.04 trillion. This movement has triggered significant liquidations on futures contracts, the largest since the FTX collapse in November 2022.  Total cryptocurrency market capitalization, USD. Source: TradingView Several economic factors have contributed to this decline. As interest rates have surpassed the 5% mark and inflation remains above the targeted 2%, finance costs for both families and businesses have risen, placing pressure on consumer spending and economic expansion. That causes less money available for savings and could force people to let go of their investments just to cover monthly bills. Since inflation e...

XRP’s price could reach $127 if history repeats itself, an analyst opined. The short-term price action could leave the token consolidating around $0.50 as indicated by the EMAs. If Ripple outrightly wins against the SEC, XRP’s may rally, but $127 seems a little far off. The Ripple (XRP) community may have been disappointed by the token’s performance in recent times. But according to crypto educator Toray Kortan, those who stick to holding XRP may reap the fruit of their trust in the token in the next bull run. Kortay, who is also the founder of Innovation Markets posted on Twitter (now X), that XRP could reach $127.11 soon. History Set to Repeat Itself To support his claims, the analyst referred to XRP’s historical price performance. He noted that XRP had formed a Duplex Dip Vortex Springboard, which was similar to the market structure before the 2017 bull run. $XRP preparing to EXPLODE to $127.117 SOON! Do you see what I see? History is repeating it...

Charles Hoskinson discusses the Mithril upgrade, highlighting its compression of historical data for smart contracts and scalability. Mithril technology enhances dApps and DeFi platforms. Hoskinson explains Hydra’s role in optimizing resource consumption for scaling and security. In a recent interview, Charles Hoskinson, the founder of Cardano, discussed a significant milestone within the Cardano ecosystem known as the Mithril upgrade. Hoskinson explained that Mithril represents an important advancement in a class of technologies that compresses significant historical data into a compact representation. According to him, this compressed representation proves valuable for tasks like bootstrapping block chains for smart contracts. Notably, crypto influencer Corey Costa was the anchor of the live interview with Charles Hoskinson. Going Live With The Great @IOHK_Charles In Ten Minutes!!$ADA #ADA #Cardano https://t.co/oik2beuG5b — Corey Costa’s C...

Join Our Telegram channel to stay up to date on breaking news coverage While top meme coin prices are faltering, the new kid on the block, Sonik Coin, has raised more than $300k  from investors to become the fastest crypto ever to reach a $100 million market cap. Although not affiliated with Sonic the Hedgehog, Sonik coin is inspired by the meme and its iconic status in the cultural gaming-internet zeitgeist. Its presale has raised $307,659 at the last count – there are now less than 14 days to go before the presale ends. All meme coins seek to harness their viral potential, and in that regard, $SONIK has the chops to succeed, as indicated by the enticing website art. $SONIK Goes Viral as a Stake-to-Earn Meme Coin – 11 Billion Tokens Committed to Staking Smart Contract However, $SONIK is a meme coin offering token holders the tangible certainty of earning staking rewards. All token holders need to do to benefit from SONIK’s stake-to-earn utility is dep...

FTX debtors launch a website to unite shareholders of Grayscale Trusts. Grayscale allegedly charged excessive management fees and prevented shareholders from redeeming their shares. Alameda urges shareholders to contribute as co-plaintiffs before September 1. In a recent announcement, Alameda Research, UTXO Management, and Balch & Bingham LLP unveiled GrayscaleLitigation.com. According to the notification, the platform seeks to unite the Grayscale Bitcoin Trust and Grayscale Ethereum Trust shareholders for collective legal action against Grayscale Investments. Notably, this litigation effort was originally initiated by Alameda, a debtor of FTX Trading. The firm seeks to address alleged wrongdoings committed by the Grayscale Trusts. The Bankrupt FTX exchange shared the development on Monday via its official X account. Major shareholders of Grayscale Bitcoin Trust and Grayscale Ethereum Trust urge other shareholders to visit https://t.co/JJ69x6616L to ...

Bitcoin mining lands another green energy data center as global powerhouse GDA sets up shop in Sweden. Sweden has welcomed a hydro-powered Bitcoin (BTC) mining data center.  Genesis Digital Assets Limited (GDA), a mining and data center company with over 400 MW of power generation worldwide has made a opened a new data center in Sweden, driven by the country's burgeoning renewable energy surplus. The new operation is located in the far North of Sweden, where hydroelectric power dominates the grid.  Abdumalik Mirakhmedov, executive president and fouder of GDA, told Cointelegraph that the new data center is located near the Porjus Hydroelectric Power Station: “Given the proximity to the hydroelectric power station, we expect all of our electricity consumption to be powered by renewable energy.” The total capacity of the data center is approximately 8 MW and is expected to result in a hash rate of approximately 155 PH/s (peta hashes per second). GDA explained to Cointelegraph tha...

The BRICS alliance aims to pay in native currencies for global trade and end dependency on the U.S. dollar. The bloc of five nations will discuss using local currencies to strengthen their respective native economies. The Chinese Yuan and the Indian Rupee are being used for cross-border transactions, limiting the use of the U.S. dollar. Also Read: BRICS : De-Dollarization Begins With Oil & Gas South Africa’s BRICS Ambassador Announces U.S. Dollar Will Continue Being King Source: nationalinterest.org South Africa’s BRICS Ambassador, Anil Sooklal, made a huge announcement on the U.S. dollar’s global prospects. Sooklal confirmed that the BRICS alliance has no intentions of challenging the U.S. dollar. He explained that the BRICs will not discuss de-dollarization efforts at the upcoming summit in Johannesburg. Also Read: 8 Arab Countries Request To Join BRICS Alliance Sooklal stressed that the U.S. dollar will continue to be the world’s reserve curre...

On August 18th, Bitcoin (BTC) experienced a significant fall from $28,800 to $25,200 within just 24 Hours. This sudden 12.5% decline marked its lowest point since June. The impact was felt across the entire crypto market, triggering a massive wave of liquidations totalling more than $1 billion. According to CoinGlass data, a substantial 176,752 traders were hit by liquidations during this intense 24-hour period. This billion-dollar liquidation event is quite a standout, underlining its importance as the largest such incident over the past eight months. Among the liquidated funds, $836 million came from long positions, while $205 million stemmed from shorts, as reported by CoinGlass. The broader cryptocurrency market slump can be attributed to news from The Wall Street Journal, which revealed that Elon Musk’s SpaceX had sold off its remaining Bitcoin holdings. This move came after a hefty $373 million markdown in the cryptocurrency’s value compared to the pre...

The Shibarium development team updated the community on the recent glitch. According to the Shib team, the newly launched network experienced unexpected traffic. The project is embarking on scaling operations to support a massive influx of Shibarium users. The Shibarium development team announced that they are working with some “powerful frens” to resolve the recent issue on the newly launched network. The team released an update informing the Shiba Inu community of the state of the glitch encountered at launch. The team used a blog post to tell users that the issue resulted from unprecedented traffic because of the project’s popularity. Good morning, #SHIBARMY Have you caught up with our latest Shibarium update on our blog? If not, here’s your chance: https://t.co/l1fIZfMrf8 #Shibarium — Shib (@Shibtoken) August 18, 2023 According to the Shib team, the newly launched network experienced unexpected traffic. As a result, the project is embarking on...

Stellar launched the Stellar Disbursement Platform (SDP) — an open-source global payment service . In its Aug. 16 announcement, Stellar explained that SDP can help with tasks ranging “from paying gig workers anywhere in the world to delivering digital aid’.” The tweet promises that the tool allows anyone to pay with cryptocurrency global ly and that the solution is specialized in bulk disbursement. 1/ Today, we’re excited to share the open-source release of the Stellar Disbursement Platform. From paying gig workers anywhere in the world to delivering digital aid, anyone can power global payments using digital assets with this publicly available, bulk disbursements tool. — Stellar (@StellarOrg) August 16, 2023 Stellar explains that SDP aims to enable faster, cheaper, and more transparent digital payment . The move follows its testing in December to provide aid disbursement in Ukraine. Now the tool has been released as open-source software and reportedly ...

Even if the filings for Bitcoin spot ETFs are rejected, Lee predicts Bitcoin’s halving event will still push up BTC's price — but not to six figures. The price of Bitcoin (BTC) will surge past an eye-watering $150,000 by the end of 2024, as long as the current slew of United States spot-Bitcoin exchange-traded funds (ETFs) are approved , according to investment research boutique Fundstrat. In an Aug. 16 interview on CNBC’s Squawk Box, Fundstrat’s managing partner and head of research Tom Lee predicted that a bundle of successful Bitcoin spot ETF applications will shift Bitcoin’s supply-demand dynamics towards considerable price appreciation. When asked what the price of Bitcoin could be by the end of next year, Lee didn’t hold back: “If the spot Bitcoin (ETF) gets approved, I think the demand will be greater than the daily supply of Bitcoin, so the clearing price [...] is over $150,000, it could even be like $180,000.” Lee clarified that this could be the case so long as it is a...

BitGo’s Series C funding featured entirely new investors based in the United States and Asia, CEO Mike Belshe said. Cryptocurrency custody platform BitGo has raised fresh capital after facing a series of terminated deals involving firms such as Michael Novogratz’s Galaxy Digital. BitGo has raised $100 million in a Series C financing round bringing the company’s valuation to $1.75 billion, the firm announced to Cointelegraph on Aug. 16. The newly raised funds will be deployed to make strategic acquisitions and expand BitGo’s secure and regulated custody, wallet and infrastructure solutions globally. BitGo CEO Mike Belshe noted that the new funds will help the firm to meet the growing demand for custody and provide institutions and companies with tools to participate in the crypto industry. So far in 2023, BitGo has seen a 60% increase of new clients and 40x growth in staked assets, the firm said. Belshe added: “Not only are we seeing growing demand for regulated custody solutions in t...

The crypto mining industry is getting a dedicated lobby group aimed at opening up discussions with lawmakers in Washington. The United States crypto mining industry is getting a new lobby ing group , with one of its biggest goals to dispel misconceptions about its sustainability from policymakers.  Launched on Aug. 15, the Digital Energy Council said its aim is to advance policies that encourage the growth of digital asset mining and energy development. DEC founder and President Thomas Mapes told Cointelegraph it was “long overdue” for digital asset miners to have a unified voice in Washington. Its official first member association solely focused on the intersection of digital asset mining and energy ️ policy at the federal level, look forward to working with digital asset and energy leaders check it out: https://t.co/kBFRkXHTNy https://t.co/kzNhtfxYZi — Tom Mapes (@tommapes88) August 16, 2023 Mapes previously served as the director of energy at the Chamber of Digital Comm...