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What Is ShibDev Portal? Shiba Inu Coin Price Path To $1 On Shibarium Development
Shiba Inu coin’s marketing lead Lucie on Thursday shared vital insights into the ShibDev portal, “a key enabler for developers to build on Shibarium.” The marketing lead took to X, revealing how the portal revolutionizes building on Shibarium, Shiba Inu ecosystem’s Layer 2 blockchain. Notably, Lucie spotlights that the portal enhances security, performance, while also providing a seamless development experience on the ecosystem, among other things.
Meanwhile, the broader market speculates whether this ecosystem development could propel a SHIB price rally to $1.
What’s ShibDev Portal? Shiba Inu Exec Reveals Crucial Insights
As per an official post by Lucie dated September 5, the ShibDev portal comes with a top-notch suite of tools and resources that enable seamless dApp building across the ecosystem. These tools range from API management to node access, with the portal standing at the forefront of the development.
The core features of the Shibarium portal includes a centralized dashboard, API key management, node access, on-chain data access, and a test token faucet. Further, Lucie’s post highlighted that users are set to experience a simplified development experience with diverse use cases and applications on Shibarium.
ShibDev portal’s branches stem out to DeFi, NFT marketplaces, supply chain tracking, identity verification, and cross-chain interoperability, among other things. Meanwhile, Lucie’s post added that, “Looking ahead, the portal will continue to evolve as new features are added and feedback from the developer community is incorporated.”
Overall, the development has garnered significant attention across the broader industry, igniting optimism for Shiba Inu coin’s future. Simultaneously, the coin today soared nearly 2%, sparking investor curiosity over future movements in light of the development.
SHIB Price Soars, Is $1 Possible?
SHIB price gained over 2% in the past 24 hours to trade at $0.00001328 while writing. The coin’s intraday lows and highs were $0.00001307 and $0.00001367, respectively.
However, Coinglass data today illustrated a nearly 6% fall in the asset’s futures OI to $26.09 million, sparking contrasting sentiments despite the abovementioned development. Notably, the coin’s futures OI saw a remarkable decline as August ended and September kicked off.
Moreover, even SHIB’s RSI stood at 46, indicating some downside pressure on the asset. This hints that the token could potentially fall further, losing support of $0.00001250. Altogether, despite the ShibDev portal garnering attention, the chances of Shiba Inu hitting $1 this year remain shrouded in an enigma.
Coingape Staff
CoinGape comprises an experienced team of native content writers and editors working round the clock to cover news globally and present news as a fact rather than an opinion. CoinGape writers and reporters contributed to this article.
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
Solana has revealed a major update for the developers, cutting costs by 1000X for them. In a recent update, the leading crypto player announced that the ZK Compression is live on its mainnet now. These latest developments have once again fueled discussions over SOL price’s potential rally to $300 going forward.
Solana ZK Compression Update Live On Mainnet
The latest upgrade on Solana, ZK Compression, aims for robust cost savings for developers. According to the official update, it focuses on cutting costs by up to 1000 times, sparking market interest. Notably, this technology leverages zero-knowledge (ZK) proofs to compress data, which aids in reducing the costs of on-chain transactions and storage.
This announcement by the platform on X highlights the scalability benefits that this update brings to its mainnet. In other words, this cutting-edge technology offers a solution to the ongoing challenges related to state growth, which in turn makes the network more efficient and scalable. In addition, the ZK Compression has also other benefits apart from the cost-cutting feature. It lays the groundwork for future ZK compute applications on the SOL network.
Meanwhile, the announcement showed that the update has been audited by Neodyme and OtterSec. This also reflects the focus of the network towards the security and scalability of the platform. Besides, a perpetual bug bounty has also been established with Immunefi to ensure ongoing security.
SOL Price To Hit $300?
The crypto market has been highly volatile lately, amid anticipations over a potential Fed rate cut. However, at the conclusion of the latest FOMC, the US Fed announced a 50 Bps interest rate cut, fueling the market sentiment. Notably, this development has also sparked a rally in the broader financial sector, including the crypto market.
However, the rally appeared to have been short-lived, with Fed Chair Jerome Powell speech weighing on the market sentiment. In his latest conference, Powell hints at potential uncertainties that have dampened the market sentiment, raising discussions if the central bank will move with a dovish plan ahead.
Despite that, the recent development on the Solana network appears to have boosted the market sentiment. SOL price was up over 1.5% over the last hour and exchanged hands at $130.88 while touching a 24-hour high of $132.63.
In addition, a recent Solana price analysis hints at a potential rally of the crypto to $300, with a flurry of anticipated positive developments. The updates are likely to boost the market sentiment, potentially bumping up the price of the crypto.
Rupam Roy
Rupam is a seasoned professional with three years of experience in the financial market, where he has developed a reputation as a meticulous research analyst and insightful journalist. He thrives on exploring the dynamic nuances of the financial landscape. Currently serving as a sub-editor at Coingape, Rupam’s expertise extends beyond conventional boundaries. His role involves breaking stories, analyzing AI-related developments, providing real-time updates on the crypto market, and presenting insightful economic news.
Rupam’s career is characterized by a deep passion for unraveling the complexities of finance and delivering impactful stories that resonate with a diverse audience.
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
In a riveting turn of events, Kadena (KDA) price rocketed nearly 30% on Wednesday amid an important update from crypto exchange giant Binance. The crypto exchange colossus revealed that it is commencing futures trading for the token. This announcement has in turn sparked noteworthy investor optimism on the coin’s future price movements.
Binance Unveils Kadena Futures Listing
In an official Binance announcement dated September 18, the CEX revealed that it is listing the KDAUSDT USD-Margined perpetual contract today at 13:00 UTC. This mover comes primarily to “expand the list of trading choices offered on the exchange and enhance users’ trading experience,” the announcement added.
The underlying asset remains Kadena, a proof-of-work blockchain that eyes offering a scalable version of Bitcoin. Users can enjoy trading with up to 75x leverage on the crypto. The tick size for the asset remains 0.0001. Further, the capped funding rate was set at +2.00% / -2.00% by the exchange.
Nevertheless, Binance clarified in its announcement that it could adjust the specifications of the listing contract ahead based on market risk conditions. The potential changes could include adjustments in the funding fee, tick size, maximum leverage, initial margin, and maintenance margin requirements.
Overall, the announcement has reverberated optimism for Kadena across the broader market, as one of the top crypto exchanges lists it.
Token Price Soars 30%
At press time, KDA price noted gains worth 29.59% in the past 24 hours and is currently trading at $0.6527. The coin’s intraday low and high were recorded as $0.5018 and $0.6757, respectively.
KDA’s 24-hour trading volume surged a whopping 758.74% over the past day to $$18,415,678. Meanwhile, the coin’s market cap rocketed 28% to $186,287,375 as of reporting. Traders appear to have reacted positively to the Binance futures listing announcement, as illustrated by the abovementioned data.
Simultaneously, Coinglass data illustrated a whopping 125% surge in the token’s futures OI. Further, the derivatives volume accompanied, soaring 2348%. Coupled with the price upswing, the coin’s stats reflect an uptrend today.
As seen previously, the CEX’s futures contract listings appear to have a positive impact on a token’s price. UXLINK price extended weekly gains to 110% with its futures listing on the exchange.
Simultaneously, AERGO futures listing sparked a briefly sustained upward movement in the coin’s price. This phenomenon aligns with Kadena’s price upswing witnessed today.
Coingape Staff
CoinGape comprises an experienced team of native content writers and editors working round the clock to cover news globally and present news as a fact rather than an opinion. CoinGape writers and reporters contributed to this article.
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
During the Financial Markets Quality Conference 2024, Ripple’s Chief Legal Officer, Stuart Alderoty, discussed the ongoing challenges faced by the crypto industry due to unclear regulatory frameworks in the United States.
Alderoty, speaking alongside representatives from Robinhood, Grayscale, and other crypto enterprises, emphasized the need for “policy clarity” in the U.S. He described the current state of crypto regulations as a “regulatory cloud” that hinders the growth and acceptance of crypto solutions.
Ripple CLO Sees Regulatory Clarity as Key to Market Domination
Stuart Alderoty, Ripple’s Chief Legal Officer, articulated a strong position on the necessity of definitive U.S. SEC crypto regulations during the conference. He believes that the removal of the existing “regulatory cloud” could elevate the firm’s status in the U.S. market, making it the most trusted enterprise-grade provider of crypto solutions.
Additionally, Alderoty’s statement reflects a broader sentiment within the crypto sector that clear laws could catalyze growth and innovation by providing a stable environment for companies.
Further adding to the discussion, Alderoty highlighted the company’s readiness to adapt and comply with future regulatory demands. This readiness, paired with Ripple’s ongoing legal victories over the SEC, positions the company favorably in navigating the complex U.S. regulatory landscape.
Legal Milestones and Future Prospects
Over the past year, Ripple has secured significant legal victories that have reinforced its position in the industry. Notably, a ruling by Federal Judge Analisa Torres acknowledged that XRP sales on secondary markets do not qualify as security sales, a decision that subtly endorsed the legality of the firm’s operations.
Despite the Securities and Exchange Commission request for the XRP company to pay $2 billion in fines, the final settlement amounted to only $125 million. This outcome highlighted the challenges within the regulatory processes that govern the crypto space.
In addition, recently the US SEC amended Binance lawsuit regarding “crypto asset securities” stating that it was regretting any confusion caused. These developments are crucial for Ripple as it continues to advocate for fair and clear regulatory policies that could ultimately enhance its market position.
Ripple’s Strategic Moves in the Stablecoin Market
Amidst regulatory battles and market fluctuations, the XRP company has also ventured into the stablecoin arena with the launch of RLUSD. This stablecoin aims to offer a less volatile option for crypto transactions by maintaining a steady peg to the U.S. dollar.
Stablecoins combine the speed, security, and efficiency of blockchain with the trust of USD. As cash use declines, more are turning to stablecoins for fast, secure, low-cost payments. 💸
Get the latest on emerging trends in stablecoin payments: https://t.co/stVjXAjOKQ
— Ripple (@Ripple) September 17, 2024
Fully backed by cash or its equivalents, RLUSD stands as a testament to the company’s commitment to compliance in the evolving crypto market.
The deployment of RLUSD and collaborations with players like Mastercard and PayPal underscore Ripple’s approach to shape the future of digital finance. By leveraging stablecoin, the firm aims to enhance the efficiency of international transfers, which accounted for almost $7 trillion in 2022.
At the time of writing, XRP price is $0.5679, marking a 7.68% increase over the past week, with a market capitalization of approximately $32 billion.
Ronny Mugendi
Ronny Mugendi is a seasoned crypto journalist with four years of professional experience, having contributed significantly to various media outlets on cryptocurrency trends and technologies. His work includes notable contributions to Cryptopolitan and Coingape News Media, where he shares his insights on the latest developments in the cryptocurrency market. Outside of his journalism career, Ronny enjoys the thrill of bike riding, exploring new trails and landscapes.
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
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