Market
XRP Price Tests Critical Barrier: Will Bulls Lose Steam?
Aayush Jindal, a luminary in the world of financial markets, whose expertise spans over 15 illustrious years in the realms of Forex and cryptocurrency trading. Renowned for his unparalleled proficiency in providing technical analysis, Aayush is a trusted advisor and senior market expert to investors worldwide, guiding them through the intricate landscapes of modern finance with his keen insights and astute chart analysis.
From a young age, Aayush exhibited a natural aptitude for deciphering complex systems and unraveling patterns. Fueled by an insatiable curiosity for understanding market dynamics, he embarked on a journey that would lead him to become one of the foremost authorities in the fields of Forex and crypto trading. With a meticulous eye for detail and an unwavering commitment to excellence, Aayush honed his craft over the years, mastering the art of technical analysis and chart interpretation.
As a software engineer, Aayush harnesses the power of technology to optimize trading strategies and develop innovative solutions for navigating the volatile waters of financial markets. His background in software engineering has equipped him with a unique skill set, enabling him to leverage cutting-edge tools and algorithms to gain a competitive edge in an ever-evolving landscape.
In addition to his roles in finance and technology, Aayush serves as the director of a prestigious IT company, where he spearheads initiatives aimed at driving digital innovation and transformation. Under his visionary leadership, the company has flourished, cementing its position as a leader in the tech industry and paving the way for groundbreaking advancements in software development and IT solutions.
Despite his demanding professional commitments, Aayush is a firm believer in the importance of work-life balance. An avid traveler and adventurer, he finds solace in exploring new destinations, immersing himself in different cultures, and forging lasting memories along the way. Whether he’s trekking through the Himalayas, diving in the azure waters of the Maldives, or experiencing the vibrant energy of bustling metropolises, Aayush embraces every opportunity to broaden his horizons and create unforgettable experiences.
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In a world where uncertainty reigns supreme, Aayush Jindal stands as a guiding light, illuminating the path to financial success with his unparalleled expertise, unwavering integrity, and boundless enthusiasm for the markets.
Market
A Global Benchmark for Blockchain Adoption
The Shiba Inu (SHIB) ecosystem announced a strategic partnership with the United Arab Emirates (UAE), suggesting blockchain integration at a federal level.
This partnership marks a milestone in global crypto adoption, making the UAE the first nation to fully embrace blockchain nationally.
Shiba Inu Secures Government Blockchain Integration
Based on the announcement, UAE’s Ministry of Energy and Infrastructure (MoEI) officially selected Shiba Inu as a key partner in advancing Web3 solutions across energy, infrastructure, and public services. The collaboration will unify Shiba Inu’s Operating System (ShibOS) across all Emirates, streamlining government services through decentralized solutions.
His Excellency Eng Sharif Al Olama, Undersecretary for Energy and Petroleum Affairs at MoEI, articulated the partnership’s significance. He cited the UAE’s focus on novel digital services to transform government deliverables.
“By embracing emerging technologies, we aim to set a global benchmark for innovation, delivering transformative solutions that benefit both our citizens and the wider community,” the Undersecretary stated.
Shiba Inu’s lead developer, Shytoshi Kusama, reiterated the partnership’s potential to transform government services. According to Kusama, the integration would redefine how governments, businesses, and citizens collaborate in a transparent, eco-friendly digital framework.
He also explained the partnership’s role in unlocking Shiba Inu’s strong Web3 technologies, from AI to Fully Homomorphic Encryption (FHE). Notably, this includes Shiba Inu token (SHIB), Bone ShibaSwap (BONE), Doge Killer (LEASH), and Shiba Inu Treat (TREAT).
While the four tokens surged following the report, the impact was subdued as token holders cashed in on the gains.
Meanwhile, this landmark agreement adds to initiatives the Shiba Inu network is taking to expand its ecosystem. The project introduced WHY Combinator three weeks ago, an incubator designed to accelerate Web3 innovation and boost BONE utility.
On the other hand, the UAE has solidified itself as a leading jurisdiction for crypto and blockchain adoption. Beyond its partnership with Shiba Inu, the region has embraced AI-driven policymaking, paperless government services, and digital transformation at an unparalleled scale.
Four months ago, the UAE further set the stage for a crypto boom by introducing a new tax exemption policy, attracting blockchain enterprises and investment into the region. Among them is the Aptos Foundation, which recently expanded its blockchain presence in Abu Dhabi.
Disclaimer
In adherence to the Trust Project guidelines, BeInCrypto is committed to unbiased, transparent reporting. This news article aims to provide accurate, timely information. However, readers are advised to verify facts independently and consult with a professional before making any decisions based on this content. Please note that our Terms and Conditions, Privacy Policy, and Disclaimers have been updated.
Market
What Caused the Block Production Stop?
The XRP Ledger (XRPL) temporarily halted block production for approximately an hour on February 4 before spontaneously recovering.
While the network is now fully operational, Ripple’s technical team is still investigating the root cause of the disruption.
XRP Ledger Halted Block Production
According to XRPL’s explorer page, network activity stalled at block height 93,927,174 for 64 minutes before resuming operations.
The blockchain’s self-custody Xaman Wallet confirmed that XRPL was back online.
“The XRP ledger is now fully operational after the recent halt, and transactions can resume as normal,” the post read.
Ripple’s Chief Technology Officer (CTO) David Schwartz addressed the issue in an X (formerly Twitter) post, explaining that while the network had recovered, the exact cause remained unknown.
“Super-preliminary observation: It looked like consensus was running, but validations were not being published, causing the network to drift apart,” Schwartz stated.
He elaborated that validator operators manually intervened to select a reliable starting point from the last fully validated ledger and resumed publishing validations. While this intervention helped realign the network, Schwartz noted that it was unclear whether this manual action directly resolved the problem or if the network self-healed.
“It looks like, as far as we can tell, only one validator operator manually intervened. It’s still not entirely clear if that solved the problem or the network self-healed,” the CTO updated.
Schwartz reassured users that the incident did not result in any asset losses. He explained that the issue only caused ledgers to be temporarily untrusted for about an hour.
This happened because the servers detected the network’s malfunction and withheld validation during the incident. Ledgers that received the majority of validation were not affected.
RippleX also reaffirmed that user funds remained secure throughout the event.
“Your funds were always safe!” RippleX posted.
This is not the first time the XRP Ledger has faced technical issues. In November 2024, the network temporarily halted transaction processing for about 10 minutes due to a node crash.
Earlier, in September 2024, full history nodes on XRPL experienced failures caused by an SQLite database page size limitation, which led to inefficiencies in handling large transaction data.
Despite these setbacks, XRPL has continued to grow. According to Ripple’s recently released Q4 2024 market report, the XRPL saw increased activity across key on-chain metrics.
On-chain decentralized exchange (DEX) trading volume reached $1 billion. Furthermore, wallet creation surged to 709,000. New token issuance on the XRPL also increased during this period.
Meanwhile, following the network disruption, XRP’s (XRP) price briefly declined.
However, in the past 24 hours, the price has mostly remained stable, to trade at $2.51 by press time. Yet, in the past seven days, XRP has declined by nearly 20%.
Disclaimer
In adherence to the Trust Project guidelines, BeInCrypto is committed to unbiased, transparent reporting. This news article aims to provide accurate, timely information. However, readers are advised to verify facts independently and consult with a professional before making any decisions based on this content. Please note that our Terms and Conditions, Privacy Policy, and Disclaimers have been updated.
Market
Cronos ETF Incoming? Crypto.com Sets 2025 Target
Cryptocurrency exchange Crypto.com is gearing up to launch a Cronos (CRO) spot exchange-traded fund (ETF) in 2025.
The company has already begun expanding its platform’s offerings in the first quarter of the year.
Cronos Spot ETF in 2025?
According to Crypto.com’s released roadmap, the ETF submission is scheduled for the fourth quarter of 2025. Nonetheless, specific details about the proposed ETF have yet to be disclosed.
The push for a Cronos ETF comes as institutional interest in crypto investment products soars. Following the success of Bitcoin ETFs, a wave of new filings has emerged, with institutions eager to capitalize on the growing momentum.
“So far, so good: Spot bitcoin ETFs pulled in $4.94 billion in January, which annualizes to ~$59 billion. For context: In all of 2024, they brought in $35.2 billion,” Matt Hougan, CIO of Bitwise, posted on X (formerly Twitter).
Additionally, with a more favorable regulatory environment under President Donald Trump’s administration and Gary Gensler’s exit from the SEC, filings for altcoin ETFs have increased significantly.
Notably, issuers have also submitted proposals for meme coin ETFs. These include filings from Rex Shares, Tuttle Capital, and Bitwise.
Meanwhile, in the lead-up to the filing, Crypto.com plans to introduce a range of new services, including stock trading, stock options, and ETFs, beginning in the first quarter.
Additionally, the company is set to roll out new banking features, such as personal multicurrency accounts and cash savings accounts, further expanding its financial services ecosystem. The exchange also plans to release a new stablecoin by the third quarter.
Crypto.com has already implemented five of the six planned products from its Q1 roadmap, including the early launch of institutional custody services. In fact, on January 27, Crypto.com’s Malta subsidiary received a Markets in Crypto-Assets Regulation (MiCA) license from the Malta Financial Services Authority (MFSA).
As per the announcement, this made Crypto.com the first major global crypto service provider to secure the full MiCA license. This followed the company’s earlier in-principle approval of its MiCA license.
“Securing a MiCA licence has been a major priority for us in recent years, and receiving this approval further cements our continued commitment to being the most compliant and regulated crypto platform globally,” said Crypto.com’s President Eric Anziani.
This regulatory achievement aligned with Crypto.com’s broader expansion strategy. Despite these developments, the price of CRO has been in a sustained downtrend since early December.
Over the past month, the token has declined by 35.7%, erasing a significant portion of its previous gains.
At press time, CRO was trading at $0.10, marking a 3.6% drop in the past 24 hours. The persistent downward momentum suggested continued selling pressure in the market.
Disclaimer
In adherence to the Trust Project guidelines, BeInCrypto is committed to unbiased, transparent reporting. This news article aims to provide accurate, timely information. However, readers are advised to verify facts independently and consult with a professional before making any decisions based on this content. Please note that our Terms and Conditions, Privacy Policy, and Disclaimers have been updated.
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