Top 5 crypto news of the week

What crypto news touched us this week? Find our top 5 crypto news of the week every Saturday.

The good news for Ripple’s XRP is piling up. Ripple has now started a testing phase for Ethereum-based smart contracts in the XRP ecosystem. This is bullish for the coin: will XRP soon offer similar features to Ethereum, the second most valuable cryptocurrency?

Ripple is testing Ethereum’s smart contracts

Ripple CTO (Chief Technology Officer) David Schwartz caused a stir last September with his idea to introduce Ethereum smart contracts to the XRPL network. Schwartz on Twitter:

“Integrating Ethereum smart contracts into XRPL can lower the barriers to entry for developers to build powerful DeFi apps with cross-chain interoperability.”

4/ Speaking of DeFi, bringing Ethereum smart contracts to XRPL could lower the entry barriers for developers to build powerful DeFi apps with cross-chain interoperability.

β€” 𝚊𝚊𝚎𝚎𝚎𝚎 (@JoelKatz) 30 September 2021

Now, about a year later, we’ve come a big step closer to that goal: The first phase of the EVM sidechain for XRPL is now live on the XRPL devnet, as Peersyst Technology announces:

β€œWe are excited to announce the launch of the first XRPL sidechain to run with [Ethereum Virtual Machine] compatible to advertise!

Anyone dealing with cryptocurrencies and investments may have already come across the term ICO. What does that mean and can you really make money from it?

ICO stands for Initial Coin Offering and allows investors to invest in a project that can provide high returns in the future. We have summarized all important information about ICOs and how to acquire them in this article.

In addition, we present our top 10 ICO cryptocurrencies, what lies behind them and how high their potential is. Our ICO calendar contains all the important details about buying an ICO. Finally, we give our personal conclusion and a recommendation for all investors.

The 10 Best ICO Coins 2022 (IMPT): A platform that connects companies and individuals with impactful, serious environmental projects. It offers a safe way to support initiatives that save our planet.

Tamagotchi: A meme coin with a dog logo based on the play-for-earn concept.

huge infinity: A fantasy sports game based on the play-to-earn concept.

Lucky block: Lucky Blocks that give you the chance to win big like a Lamborghini or $1 million in Bitcoin.

O-MEE: A social network that supports creators, brands and companies in creating exclusive content.

Fusotao: Verification protocol to match systems that protect data and assets.

MetaClash: A blockchain PvP game.

Solidus AI Tech: Development of an HPC data center for green AI.

Agro Deal Pro: Mobile application for managing relationships and transactions in the agricultural sector.

social services: A social project that provides mutually beneficial services.

Will the Terra LUNA drama ever end? In a new interview, Terra founder Do Kwon presents himself as a victim and describes the serious allegations against him as inaccurate. The price of the coin reacted immediately – and has been falling for hours. Should LUNC be sold now?

Terra Luna Classic under pressure

The Terra LUNA ecosystem simply cannot rest: First the total crash, then the temporary hope of recovery – and in between small rallies and corrections. A rollercoaster for investors in the coin who need good nerves every now and then.

Because: Terra Classic (LUNC) is currently in a correction and has been falling for hours! From yesterday’s high of $0.0002674, the coin fell as low as $0.0002435 in the morning hours – a drop of almost 9%

Terra Classic (LUNC) was able to make up some ground here, recovering to $0.0002474. However, the coin currently appears to lack the momentum for a broader recovery. Trading volume is in the green at +42% on a daily basis – other than that there are no bullish signals.

In perspective, the coin may even come under further pressure because: In a new interview with crypto journalist Laura Shin, Terra founder Do Kwon is unreasonable about the accusations against him, even describing them as unfounded and “politically motivated”. Could Terra owners face new pain?

The European Union is turning again to its favorite pastime, labelling. But this time it’s not about the degree of curvature of pickles or french fries brown, but about cryptocurrencies. A new brand is to label and value green cryptocurrencies.

With this plan, the EU targets the cryptocurrencies that the EU believes use too much energy. In times of extreme energy scarcity, this is an attempt to persuade the miners to use the proof-of-stake model. The plan is to develop an energy-efficient cryptocurrency brand to help curb the industry’s growing power consumption. The IMPT pre-sale is currently part of this initiative.

In this way, investors can not only benefit from the expected returns, but also contribute to the climate. This is done via tokenization of CO2 certificates. Their trade counteracts climate change. The project can already be bought in the pre-sale. That way, investors can take advantage of it in advance.

Promoting environmentally friendly cryptocurrencies

To this end, Brussels would like to work with international partners. This collaboration aims to develop assessment measures that will help promote greener cryptocurrencies. At the same time, the EU would like to encourage its member states to limit the miners’ energy consumption. This is intended to prepare for the coming winter, which will be dominated by the reduced volumes of gas supplies from Russia.

Greece, Italy, France and Portugal. These are four out of a total of 19 euro countries whose public debt is higher than the gross domestic product. By the way, Germany’s national debt is around 68%, while Estonia has the lowest national debt at 17%. Not so long ago, Greece had to be saved from bankruptcy because the country was on the verge of insolvency. But apparently the EU Commission has not really learned anything and is still borrowing from member states with no guarantee of repayment. But no one probably noticed that before. Because the economy boomed and profits bubbled up. Important reforms were repeatedly postponed until the future.

But then the world situation changed due to the corona crisis and the war in Ukraine, and suddenly we are facing a recession – in all EU countries. Now the mistakes of the past are catching up with the ECB. The monetary watchdogs have resisted a rate hike for far too long. Perhaps because they believed that the problem of runaway inflation would solve itself. But it didn’t. The ECB now has no choice but to raise interest rates significantly – despite the threat of recession. To solve the debt problem, it would be necessary to reform the ECB, especially when it comes to cryptocurrencies.

The ECB and the cryptos – the missed opportunity?

Of course, cryptocurrencies are not a panacea. But they could make an important contribution to loosening the Gordian knot of EU debt.

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