Cryptocurrency Market Surges and Recent Developments

by | Aug 21, 2023 | Technology | 0 comments

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Amid its stablecoin launch, PayPal unveils a seamless conversion feature, enabling users to convert PYUSD and diverse crypto assets. The payment giant introduces the Cryptocurrency Hub service, facilitating crypto sales, purchases, and other functions using PayPal and PYUSD.

Landmark Achievement: Europe’s First Spot Bitcoin ETF Marks Crucial Milestone

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Stellar Invests in MoneyGram, Secures Board Seat

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Sei Token Value Plummets by 31% Amidst User Airdrop Claims

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Hacker Crafts Memecoin After RocketSwap’s $870,000 Theft

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Institutional XRP Holdings Surge Amidst Ripple’s SEC Victory.

After a partial victory in the SEC lawsuit, Ripple’s XRP experienced a surge in volumes and prices as traders anticipated a bullish trend. However, subsequent data from Coinmarketcap indicates a 13.39% monthly decrease in XRP’s value. On-chain data reveals profit-taking by large holders, adding to selling pressure. On a positive note, institutional investors are showing renewed interest, with XRP digital asset fund inflows rising steadily. CoinShares’ weekly report highlighted $0.5 million in XRP inflows.

Upcoming Airdrop: Connext’s Native Token ‘Next’ in September

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HBAR Surges 15% on FedNow Backing for Real-Time Transactions

The value of Hedera network’s native HBAR token surged by around 15% in the past 24 hours, reaching $0.06392, as per CryptoSlate data. This adds to a positive month for the network, highlighted by joining Blockchain for Europe and achieving 17 billion transactions. Despite past setbacks, the network processed 17.4 billion transactions with 3.1 million accounts.”

Hedera’s HBAR Soars with FedNow Support

Hedera’s price surge led to a remarkable 1,290% surge in 24-hour trading volume, with over $224 million HBAR tokens traded by 11 am ET. Despite dipping below $0.060 last week, the cryptocurrency rose 17% and continued to climb, marking a 25% increase in the past 30 days.

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