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Bitcoin ranked most volatile currency in world




A new study reveals the most volatile cryptocurrencies, with Bitcoin ranking as the riskiest of the market leaders.

The research by online crypto casino Bombastic analyzed price data for the largest 100 cryptocurrencies by market cap. It ranked each based on the volatility between its highest and lowest USD price over the last 12 months from January 2024.

The most volatile cryptocurrencies

Bitcoin (BTC) is the most volatile after its price skyrocketed from $20,195 in March 2023 to $46,936 in Jan 2024. It has the highest growth in dollar value compared to any other cryptocurrency over the last 12 months.

Maker (MKR) had the second greatest fluctuations in value this year. From June 2023 to January 2024, its price went from a low of $616 to a high of $2,144, a 248% increase in seven months.

Ethereum (ETH), in third, has experienced some of the most dramatic price changes in the last year. Its price has skyrocketed by over $1,000 in the last 12 months, from $1,429 on March 2023 to $2,618 on January 2024.

Bitcoin’s altcoin, Bitcoin Cash (BCH), has the fourth most unpredictable prices in the last year. From June 2023 to July 2024, it tripled from a low of $101 to $306.

BNB (BNB), previously Binance Coin, ranks fifth among the most volatile coins. Its price went from a year-high of $347.9 in April 2023 to a low of $205 in September, plummeting by $142.9 in just four months; the most lost in USD value of the top 100 coins.

Solana (SOL) had the sixth-largest price swings over the last year, with its value flying from just $14.5 in June 2023 to $121 in December 2023, a rapid 736% change in six months.

ORDI (ORDI) is seventh among the wildest price jumps in the past year. Its value experienced the greatest percentage change of the top ten, skyrocketing 27-fold from $3 in September 2023 to $83 in January 2023. ORDI took the shortest time between its lowest and highest yearly valuation of the top ten.

Bitcoin SV (BSV) showed the eighth most unpredictable shifts in the market. It more than quadrupled from $24.3 to $104 between June 2023 and January 2024.

Quant (QNT) had the ninth most dramatic ups and downs. Its value dropped from $155.9 to $84 between January and October 2023, experiencing the second-greatest dollar loss of $71.9, behind BNB.

Aave (AAVE) ranks tenth among the most unpredictable crypto coins. Its value doubled from $50 to $118.9 between June and December 2023.

A spokesperson from Bombastic commented on the findings: “Now, with years of historical data, these findings offer crypto traders an insight into the riskiest coins to invest in. Data shows that Bitcoin experienced the biggest changes in price, over $25,000 more than the next coin”.

Most Volatile Cryptocurrencies
Largest difference between highest & lowest prices over the past 12 months (USD)
Rank Symbol Name Lowest value (USD) Highest value (USD) Difference (USD) Difference (%)
1 BTC Bitcoin 20,195 46,936 26,741 132.4
2 MKR Maker 616 2,144 1,528 247.9
3 ETH Ethereum 1,429 2,618 1,188 83.2
4 BCH Bitcoin Cash 101 306.7 204.9 201.3
5 BNB BNB 205 347.9 142.9 69.7
6 SOL Solana 14.5 121.4 106.9 736.9
7 ORDI ORDI 3 83.3 80.4 2,719
8 BSV Bitcoin SV 24.3 104.4 80 329.2
9 QNT Quant 84 155.9 71.9 85.5
10 AAVE Aave 50.1 118.9 68.8 137.3

The post Bitcoin ranked most volatile currency in world appeared first on HIPTHER Alerts.

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Virtualness want to be the Canva of Blockchain:Kirthiga Reddy




Virtualness is positioning itself as the Canva of the blockchain world, according to Kirthiga Reddy. Reddy, the former Managing Director of Facebook India, is now the CEO of Virtualness. She believes that the platform can empower users to create content and communities in the virtual space, similar to Canva’s success in the design world.

Virtualness aims to provide tools and resources that simplify the process of creating and managing virtual communities. Reddy envisions the platform as a one-stop destination for individuals and businesses looking to leverage the power of blockchain technology for community building.

The platform offers a range of features, including customizable templates, social media integration, and analytics tools, designed to streamline the creation and management of virtual communities. Reddy highlights the platform’s user-friendly interface and intuitive design as key factors in its appeal to users.

Virtualness is tapping into the growing demand for virtual experiences and communities, driven by the shift towards remote work and digital interaction. Reddy sees immense potential in the platform’s ability to democratize access to blockchain technology and empower users to create meaningful connections in the virtual world.

With Virtualness, Reddy aims to democratize access to blockchain technology and empower users to create meaningful connections in the virtual world. She believes that the platform has the potential to revolutionize the way people interact and collaborate online, much like Canva has transformed the design industry.

Virtualness has already garnered attention from investors and industry experts, positioning itself as a promising player in the burgeoning virtual community space. Reddy’s vision for the platform reflects her deep understanding of the digital landscape and her commitment to driving innovation in the blockchain industry.

Overall, Virtualness is poised to make a significant impact in the virtual community space, offering users a powerful tool to create, manage, and monetize their virtual experiences. With Reddy at the helm, the platform is well-positioned to become the go-to destination for virtual community building, much like Canva has become synonymous with design excellence.


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Sei Foundation proposes a version 2 network upgrade to bring EVM compatibility




Sei Foundation, the overseeing entity of the Sei blockchain operating at Layer 1, has taken a significant stride towards version 2 of its network, as revealed in an announcement made on Monday. Spearheaded by Sei Labs, this upgrade aims to elevate the blockchain’s performance by introducing a high-performance instance of parallelized Ethereum Virtual Machine (EVM).

Following the necessary approval of the governance proposal, the network upgrade is scheduled to take place one week later. This swift timeline underscores the Sei team’s dedication to continually enhancing the efficiency of their network.

The introduction of Sei’s parallelized EVM marks a notable technological advancement in the company’s operations. This innovation enables Ethereum-based contracts to be seamlessly deployed on the Sei platform, resulting in near-instantaneous execution. Such a feature drastically reduces transaction validation times, significantly elevating existing efficiency and effectiveness standards.

Version 2 of Sei’s blockchain, slated for release, will support Ethereum and parallel execution, akin to other high-performance blockchains like Solana. This development further solidifies Sei’s standing as a formidable player in the industry. The upcoming Sei v2 update will also compete with other parallelized EVMs, including popular ones like Monad and Neon, in the fiercely competitive blockchain landscape.

Sei Labs has already indicated that the current upgrade is poised to attract significant interest, given the applications available on Ethereum. Notable investors and partners such as Uniswap, Frax, X2Y2, Bancor, Balancer, Rarible, Layer Zero, Nansen, and The Graph are currently in discussions with Sei to access v2. The anticipated adoption of Sei v2 is a significant testament to the platform’s potential to emerge as a leading hub for blockchain collaboration.

Since its beta launch on the mainnet within Cosmos in August 2023, Sei has primarily focused on applications developed with Rust that run on Cosmos. However, with the introduction of Sei v2, the team intends to expand its reach by engaging both new and existing users and optimizing network compatibility. This strategic pivot aims to foster inclusivity and adaptability for development.

Having secured substantial funding in April 2023, Sei Labs is now prioritizing the transition to Sei v2. The successful funding round, which raised $30 million across two rounds from investors such as Jump and Multicoin Capital, underscores Sei Labs’ commitment to supporting the Sei blockchain ecosystem financially and technologically.

The recent developments at Sei exemplify a strategic direction aimed at enhancing the blockchain’s efficiency and competitiveness. By embracing cutting-edge technological innovations and bolstering support for Ethereum-based applications, Sei positions itself as a potential catalyst for its services and a significant player in the blockchain industry. Investors and the broader tech community are closely observing how this substantial change could shape the future of blockchain.


The post Sei Foundation proposes a version 2 network upgrade to bring EVM compatibility appeared first on HIPTHER Alerts.

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Brazil Central Bank Crafting Crypto Regulation Plan, Expected by Year’s End




Brazil’s central bank has revealed a multi-phase strategy to regulate cryptocurrency and virtual asset service providers, intending to finalize the regulatory framework by the year’s end.

These regulations will establish guidelines to ensure and enforce increased transparency regarding the potential benefits and risks associated with these investments, the bank stated. It opted for a phased approach to effectively oversee Brazil’s cryptocurrency service market.

“The contributions received will be utilized as we proceed, and the regulatory proposals are slated for completion by the end of 2024,” the bank added.

Reuters reported that the central bank’s recent decision delays the finalization of the process, following a 2022 law granting the bank authority to formulate these regulations.

During a congressional hearing in the previous year, Otavio Damaso, the central bank’s director of regulation, anticipated completing the crypto regulations by June 2024.

In December 2023, the bank conducted a public consultation on the matter, concluding in January. Subsequently, it announced a new public consultation scheduled for the latter half of this year.

The central bank informed Reuters that the initial consultation aimed to gather feedback from the public on the proposed regulations, also addressing aspects not covered by the 2022 law, such as the segregation of assets by virtual asset service providers. To this end, the first public consultation necessitated “considerable dedication from the involved teams.”

Additionally, the bank is progressing with the regulation of stablecoins, especially those utilized for payments and foreign exchange.

Brazil Restricts Crypto Contributions in Elections
In an effort to curtail cryptocurrencies’ role in campaign finance, Brazilian authorities recently enforced a ban on crypto donations to political parties and candidates.

The electoral court defended this ban, underscoring the importance of transparency and traceability in campaign financing. It reiterated its commitment to safeguarding elections “against irregular or illicit practices.”


The post Brazil Central Bank Crafting Crypto Regulation Plan, Expected by Year’s End appeared first on HIPTHER Alerts.

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