Bitcoin Cash has experienced a halving in the Bitcoin Cash network. Ripple is preparing to release a new Stablecoin. Binance has tightened verification requirements. The trader earned a million on Memecoin in a day
Bitcoin Cash experienced the second halving in history: How did the exchange rate react?
The reward for each new Bitcoin Cash block mined decreased from 6.25 BCH to 3.125 BCH. The halving was recorded on the night of Thursday, April 4.
The event caused minor problems in the operation of the blockchain, as new blocks were mined at one-hour intervals after the event. Experts say that such pauses were also noted after the first halving, which was observed on April 8, 2020.
The BCH price saw a growth spurt in March, increasing by 100%, compared to February. Before the halving, the exchange rate sagged slightly but started to recover again after the event. On April 6, the price reached the $713 mark, the first time since 2021.
Let’s recall that Bitcoin halving is also scheduled to take place in April 2024. It is difficult to predict the exact date since it depends on the height of the block. Experts have calculated that during previous halvings, the value of the first cryptocurrency increased by an average of 3230% in the first 12 months after the event.
Ripple announced the release of a new Stablecoin: will it become a competitor to Tether?
Ripple is planning to release a Stablecoin pegged to the US dollar. A statement from the developers at X says that the world will see the new coin by the end of 2024.
At Ripple, they believe that the Stablecoin will bridge the gap between the world of DeFi and traditional finance, as well as create new uses for Ripple’s payment infrastructure.
It is reported that dollar deposits, US bonds, and other financial equivalents will serve as collateral for the new coin. XRP Ledger and Ethereum blockchains have been chosen for its launch. The name and ticker for the Stablecoin have not yet been invented.
Ripple representatives are confident that the new coin will be able to compete with USDT and USDC, which are the leaders of the stablecoin segment today.
The XRP exchange rate increased by 2.1% in response to Ripple’s plans. As of April 8, the asset’s exchange rate stands at $0.59.
Binance has tightened KYC requirements for sub-accounts: What has changed?
Sub-accounts on Binance will not be available until their owners are fully verified. KYC requirements must be met by May 20, 2024, or the accounts will be permanently frozen.
In 2020, the crypto platform launched the Binance Link program for corporate users. It gives trading companies access to the exchange’s technology and allows them to open accounts and earn on commissions. According to the new rules, sub-account holders must fully complete the Link-KYC procedure to utilize their services.
Binance can demand any information, including residential address and source of funds, as well as ask questions about employment and relatives.
Let us remind you that sub-accounts are an opportunity for investors to delegate the management of their capital to teams of professional traders.
The user earned a million on Memecoin: How did it happen?
The investor’s investment increased 195 times thanks to a deal with the EPIK Memecoin based in the Solana network. This was reported by the analytical company Lookonchain.
The user spent 30.3 SOL ($5,300) to purchase 261.3 million EPIK coins. The transaction was recorded on Thursday, April 4. A day later, through a series of transactions, he sold 231.3 million Memecoins, receiving 5,936.7 SOL ($1.04 million) in return.
After that, the investor continued to buy and sell EPIK. In comments to Lookonchain’s post, traders started writing that such behavior could be a sign of Pump & Dump — a scheme of artificial rate increase followed by a collapse.
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