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Crypto Outlook

  

-BTC: $26,698.38

-ETH: $1,633.17

-XRP: $0.4946

-LTC: $65.12

The global crypto market cap is $1.06T, a 0.34% increase over the last day. The total crypto market volume during the previous 24 hours is $18.86B, which makes a 4.84% increase.

BTC: BTC price increased by 0.59% and 3.24% over 24 hours and the past seven days. The asset reached a low and high of $26,415.52 and $26,746.36, respectively.

Amboss, a provider of Lightning Network data, has just rolled out a handy new subscription service called “Hydro.” It aims to simplify the whole process of getting some much-needed liquidity within the Lightning Network. This move addresses a common headache for businesses and individuals embracing Lightning payments.

The Lightning Network is well-known for making Bitcoin transactions faster and cheaper. However, it can be a maze, especially if you’re alone without a custodian. Businesses that want to accept Lightning payments often find themselves wrestling with the concept of “liquidity,” which can seem pretty intimidating.

Here’s where Hydro comes to the rescue. Merchants can buy Ambucks credits in advance, like pre-paid tokens, which can be used to get much-needed liquidity whenever required automatically. Users can fine-tune their preferences regarding Lightning channel leases, specifying how much inbound liquidity they need and the ideal node size. Hydro taps into Amboss’s marketplace, Magma, to find the perfect channels that match the merchant’s needs, all while ensuring they get the best possible deal.

ETH: ETH price increased by 0.10% and 1.04% over 24 hours and the past seven days. The asset reached a low and high of $1,609.96 and $1,635.51, respectively.

After two years of dedicated development, a group of Ethereum enthusiasts is on the verge of unveiling their zero-knowledge Ethereum Virtual Machine (EVM) known as “Scroll.” What sets Scroll apart is its unwavering commitment to upholding Ethereum’s core values.

Although several zero-knowledge EVMs exist, Scroll’s co-founder, Ye Zhang, explained during an interview at Token2049 that this project is driven by idealism. The team is resolute in adhering to the philosophy and principles that Ethereum has nurtured from the beginning.

Zhang emphasized that this endeavour has been more of a “labour of love” than a technical challenge. Their motivation stems from a shared vision to scale Ethereum while preserving its fundamental decentralization principles.

With extensive testing and code audits already completed, the new zkEVM is poised to launch in a matter of weeks. Zhang mentioned that Scroll would debut after final testing, and major projects like Uniswap and Aave are prepared to deploy on the Scroll platform upon its launch.

XRP: XRP price decreased by 0.12% and increased by 0.04% over 24 hours and the past seven days. The asset reached a low and high of $0.4895 and $0.5004, respectively.

Ripple, Tranglo, and SBI Remit have come together to establish a joint venture known as SBI Ripple Asia. This move follows a recent announcement where SBI Remit, a subsidiary of SBI VC Trade and the crypto-focused arm of SBI Japan, revealed a strategic partnership with Ripple and SBI Ripple Asia.

The core objective of this collaboration is to launch international remittance services leveraging XRP, Ripple’s cryptocurrency. TRANGLO Pte Ltd, a prominent cross-border payments provider, will handle customer requests from SBI Remit and funds transfer to the recipient’s bank account in the respective receiving country.

The initial focus of this partnership is to introduce Ripple’s XRP-enabled remittance solution to bank accounts in the Philippines, Vietnam, and Indonesia, with the rollout commencing this month. This collaboration holds the potential to bring about a significant transformation in the remittance landscape across Southeast Asia.

LTC: LTC price increased by 2.16% and 5.94% over 24 hours and the past seven days. The asset reached a low and high of $63.22 and $65.16, respectively.

On August 2, 2023, Litecoin underwent a significant event known as halving, which resulted in block rewards being reduced to 6.25 LTC per block. Many investors had high expectations that this move might trigger an increase in the price of LTC, driven by the anticipation of long-term scarcity. However, contrary to these bullish predictions, LTC did not experience the expected surge.

Between August 2 and September 11, the price of LTC witnessed a sharp decline, plummeting by 35.8% from $93.82 to $60.25. Experts attribute this recent downward trend to prevailing pessimism in the crypto market and the competitive nature of the best altcoins.

Nevertheless, despite this recent decline, analysts maintain their optimism regarding a potential LTC price surge in the future. This optimism stems from the reduced rate of new LTC coins entering circulation, which creates deflationary pressure and could drive the value of LTC upward. While Litecoin was navigating through a bearish phase, a similar scenario unfolded for Polkadot.


Vantage does not represent or warrant that the material provided here is accurate, current, or complete, and therefore should not be relied upon as such. The information provided here, whether from a third party or not, is not to be considered as a recommendation; or an offer to buy or sell; or the solicitation of an offer to buy or sell any financial instruments; or to participate in any specific trading strategy. Any research provided does not have regard to the specific investment objectives, financial situation and needs of any specific person who may receive it. We advise any readers of this content to seek their own advice. Without the approval of Vantage, reproduction or redistribution of this information is not permitted.

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