Crypto Outlook

-BTC: $27,936.48

-ETH: $1,634.78

-XRP: $0.5188

-LTC: $65.07

The global crypto market cap is $1.09T, a 0.45% decrease over the last day. The total crypto market volume during the previous 24 hours is $18.28B, which makes a 17.21% increase.

BTC: BTC price decreased by 0.44% and 0.60% over 24 hours and the past seven days. The asset reached a low and high of $27,740.66 and $28,087.65, respectively.

The world of Bitcoin could be in for a big change. Someone who used to work at BlackRock, a really big investment company, thinks that the United States might approve Bitcoin Exchange Traded Funds (ETFs) soon. This approval could be a major deal for Bitcoin. It’s not just a small achievement; it could completely change how Bitcoin works in the market.

Big investors, like companies and rich people, have been paying close attention to cryptocurrencies like Bitcoin. Getting Bitcoin approved for ETFs would give these big investors a safe and familiar way to invest in it. Some experts think that if big investors put their money into Bitcoin, it could be a huge $17.7 trillion boost for Bitcoin. This would make Bitcoin even more important in the world of money.

We have yet to determine exactly when or if the ETF will be approved, but all the excitement about it shows that people are starting to see Bitcoin as a real and attractive option for traditional finance. This could also affect other cryptocurrencies. If big money starts flowing into Bitcoin, it might make people trust and invest in other cryptocurrencies more.”

ETH: ETH price decreased by 0.24% and 5.36% over 24 hours and the past seven days. The asset reached a low and high of $1,618.19 and $1,640.45, respectively.

In an unexpected twist, hackers who had stolen 5,000 Ethereum (ETH) from HTX, previously known as Huobi, have returned the stolen cryptocurrency. What’s even more interesting is that the hackers gave the money back and offered advice on making their system more secure.

While returning the funds, the hackers left a message for HTX, urging them to take immediate steps to improve security. They recommended changing the address of their system’s hot wallet and reducing the hot wallet rate due to a private key leak. This security breach happened on September 25 and resulted in a loss of 5,000 ETH, which was worth around $8 million at the time.

Fortunately, the HTX team acted swiftly and detected the breach. Justin Sun, who advised HTX and founded Tron, assured the community that the exchange had covered the entire loss, ensuring that all user funds were safe.

XRP: XRP price decreased by 1.26% and increased by 4.05% over 24 hours and the past seven days. The asset reached a low and high of $$0.5156 and $0.5224, respectively. ‘

Ripple’s Chief Technology Officer, David Schwartz, suggested that the XRP Ledger (XRPL) community think about using an automated market maker (AMM). But he says they should only do it if most community members agree. He discussed this on the social media platform X (formerly Twitter) and explained how adding AMMs to XRPL could be a good idea. Ripple wants to make its blockchain network even better.

Automated Market Makers, or AMMs for short, are a big deal in the world of decentralized finance (DeFi). They help with automatic trading by providing the money needed for cryptocurrency markets to work without banks or brokers. People really like AMMs because they make decentralized exchanges (DEXs) work well.

The XRP Ledger, where XRP is the main currency, is known for being fast and able to handle a lot of transactions. This makes it good for all sorts of financial things, like sending money across borders. Ripple, the company that works with XRP, is using this technology to improve global payments.

LTC: LTC price decreased by 2.25% and 4.71% over 24 hours and the past seven days. The asset reached a low and high of $65.00 and $65.97, respectively.

Litecoin has recently achieved a remarkable milestone, completing its 175 millionth transaction. What’s even more impressive is that this year has seen the network outperforming its 2022 record, already tallying an impressive 46 million transactions, as reported by the Litecoin Foundation.

The anticipation in the altcoin market had been building for the Litecoin halving event, and it has now taken place as anticipated. This significant event saw the Litecoin network successfully halving the block rewards from 12.5 LTC to 6.25 Litecoin per block. This automated halving mechanism was activated on August 2 at block 2,520,000.

But the excitement doesn’t stop there. The Litecoin development team has recently unveiled a game-changing feature called MWEB. This innovation offers users the option to conduct confidential LTC transactions, opening up exciting new possibilities within the Litecoin ecosystem. These achievements and the network’s record-breaking transaction numbers signal a bright future of growth and innovation for Litecoin.

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