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Crypto Outlook

  

-BTC: $28,073.32

-ETH: $1,726.51

-XRP: $0.5237

-LTC: $67.51

The global crypto market cap is $1.11T, a 3.01% increase over the last day. The total crypto market volume during the previous 24 hours is $34.75B, which makes an 11.11% increase.

BTC: BTC price increased by 3.76% and 7.37% over 24 hours and the past seven days. The asset reached a low and high of $27,047.32 and $28,145.30, respectively.

Minecraft has introduced a fascinating way to earn Bitcoin through the Satlantis server. Players now have the opportunity to accumulate real Bitcoin, specifically in the form of Satoshi (Sats), while enjoying the game. Satoshi represents the smallest unit of Bitcoin, and players on the Satlantis server can earn these Sats every 10 minutes as they explore and interact within the Minecraft universe. With over 1 million Satoshi, roughly equivalent to $300, distributed weekly on this platform, it’s a unique fusion of gaming entertainment and cryptocurrency potential.

To embark on this Bitcoin-earning adventure, players must access the Satlantis server, compatible with Minecraft Java edition, using the IP address ‘play.Satlantis.net.’ While anyone can join and participate in the gameplay, there’s a catch to earning Bitcoin – players must obtain a virtual ASIC miner, the same type used in real-world Bitcoin mining operations, and provide it with emeralds to kickstart their virtual mining experience. This blend of Minecraft’s immersive virtual world and the real-world potential for Bitcoin earnings makes Satlantis an exciting and innovative gaming opportunity.

Minecraft’s Satlantis server represents a unique convergence of the gaming and cryptocurrency worlds. It offers players the chance to enjoy Minecraft while dipping their toes into the world of Bitcoin, making it an appealing prospect for gaming enthusiasts and cryptocurrency lovers looking for a new way to engage with their interests.

ETH: ETH price increased by 2.94% and 9.34% over 24 hours and the past seven days. The asset reached a low and high of $1,670.08 and $1,750.60, respectively.

Vitalik Buterin has recently voiced his concerns regarding the growing influence of decentralized autonomous organizations (DAOs) in selecting node operators for liquidity staking pools. Buterin’s unease stems from the increasing adoption of the DAO model for governance within these staking pools entrusted with managing substantial digital assets. He sounds a cautionary note, warning that this approach may expose these pools to potential risks posed by nefarious actors.

The Ethereum luminary highlights a particular concern: the dominance of a single staking token within a DAO governance model could lead to a vulnerable governance mechanism wielding control over a significant portion of Ethereum validators.

As a case in point, Buterin references Lido, a liquid staking provider with a DAO responsible for validating node operators. Although protocols like Lido have implemented protective measures, Buterin underscores the potential inadequacy of relying solely on a single layer of defence.

XRP: XRP price increased by 1.22% and increased by 4.22% over 24 hours and the past seven days. The asset reached a low and high of $0.5158 and $0.5255, respectively.

Brad Garlinghouse, the CEO of Ripple Labs Inc., has publicly acknowledged and commended the steadfast support and resilience exhibited by the XRP community throughout its arduous legal dispute with the U.S. Securities and Exchange Commission (SEC). This legal battle had been a protracted struggle spanning several years, during which both the XRP community and Ripple Labs found themselves entangled in a lawsuit initiated by the SEC. The SEC’s allegations centred on XRP being an unregistered security, setting the stage for a legal showdown of significant proportions.

The jubilant atmosphere among the XRP supporters marked a pivotal moment in July when Ripple achieved a landmark victory in the lawsuit. The court’s decision was widely celebrated as a major triumph for Ripple and the broader cryptocurrency industry. However, amid the festivities, a contentious issue continued to loom over the case. Despite suffering a significant defeat, the SEC pursued an interlocutory appeal related to one aspect of the case. This development added a layer of complexity to the already protracted legal battle, keeping the debate alive regarding whether XRP should be classified as a security or a commodity and underscoring the ongoing legal intricacies surrounding the matter.

LTC: LTC price increased by 2.25% and 4.71% over 24 hours and the past seven days. The asset reached a low and high of $66.11 and $68.59, respectively.

The competition for the top spot among leading altcoins is intensifying, with Litecoin ($LTC) emerging as a formidable contender driven by its remarkable surge in payment usage. Over the past quarter, Litecoin’s payment activity has experienced a remarkable upswing. On August 24, 2023, Litecoin proudly announced that it had successfully processed its 175 millionth transaction, and astonishingly, 46 million of those transactions occurred in 2023 alone. This impressive growth is even more apparent when compared to the previous year when Litecoin handled only 39 million transactions.

What’s particularly noteworthy is that Litecoin’s payment usage has continued to flourish despite a recent halving event that occurred on August 2. This event reduced block mining rewards to 6.25 $LTC. Surprisingly, BitPay reported a staggering 50% surge in Litecoin usage by August 28. Analysts are taking notice, suggesting that Litecoin’s robust usage could pave the way for a potential rally once the cryptocurrency market shifts from its current bearish sentiment. This optimistic outlook could mean that $LTC has the potential to rise by approximately 18.9% to reach a value of $75.63 when the market eventually turns bullish.


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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