Crypto Market Overview January 26th | Dex-Trade

Crypto Market Overview January 26th | Dex-Trade

AI Offers Options for XRP Ledger to Interact with CBDC: Jeremy Hogan's New Tweet

In response to multiple questions from the XRP community about how the cryptocurrency could work as an intermediate medium of exchange for CBDCs, XRP advocate and advocate Jeremy Hogan shared several chats in which artificial intelligence (AI) provided answers to these questions. The lawyer noted that according to the AI responses, CBDCs can be used with XRPL as IOUs represented by a token on the blockchain to take advantage of network scalability and optimize it for payments. According to AI interpreter Hogan, central banks could also open portals to withdraw and deposit CBDC in XRPL to allow it to be used alongside XRP and other XRPL-based tokens. And the most obvious option proposed by AI is the creation of CBDCs in the form of stablecoins on the XRPL blockchain. Recall that the relevance of the issue is to strengthen control over monetary policy and eliminate the lack of fiat in cross-border settlements with the help of CBDC. Back in 2021, Ripple published an article “The Future of CBDCs” in which the company’s experts suggested using neutral intermediate currencies, in particular XRP. The article suggested that CBDC be exchanged for XRP, which would be sent to the local exchange in the country of destination to be exchanged for the local CBDC.


Britain Should Become a Crypto Hub: Philip Hammond Advocates the Mobilization of the Crypto Community

In an interview with the Financial Times, former UK Chancellor of the Exchequer and newly elected Chairman of Copper, Philip Hammond, says that the country has allowed itself to fall behind some of its neighbors in creating a cryptohub state, so the community needs to focus on creating a more effective regime for regulating digital assets in the country. Hammond recalled that as early as last year, then-Chancellor and now Prime Minister of Great Britain, Rishi Sunak, outlined the ambition to turn the country into a cryptohub and integrate stablecoins with the country's payment systems. For now, the cryptocurrency regulation policy paper is already “overdue,” according to Hammond, although Financial Services Minister Andrew Griffith said this week that it would be ready for parliamentary consideration “matter of finite weeks, not months.” “The UK needs to be leading in this post-Brexit area. It’s allowed itself to slip behind. Switzerland is further ahead. The EU is also moving faster. There has to be appetite to take some measured risk.” — the ex-chancellor said. Hammond, who was UK Chancellor of the Exchequer and Chancellor of the Exchequer from 2016 to 2019, joined Copper as an adviser in 2021. At the moment, the company is close to completing another round of financing, after which its estimated value should increase to $2 billion.


$15 Million in ETH Moving to Poloniex: Justin Sun Cashing Out Crypto?

Well-known investor and founder of Tron, Justin Sun, has once again moved more than $15 million in ETH to the Poloniex cryptocurrency exchange, one of the businessman’s top ten transactions since early 2023. According to LookOnChain, $15.5 million was transferred directly to Poloniex, where approximately $347 million was already stored. However, it is impossible to determine whether any of the funds from Sun's alleged vault were cashed out. However, the activity that Sun is showing is similar to the strategy that most investors use: reducing the risks of their portfolios, gradually selling assets as they move up, redistributing pressure on the market and fixing profits. Given the overall liquidity and volume of Ethereum, a businessman’s $15 million to $50 million transactions should not have a tangible impact on the price of crypto silver. However, ETH is not the only crypto being actively moved by the Tron founder. On the wallets associated with it, operations with DYDX altcoins were noticed. Historically, every time Sun's own wallet or associated vault makes a transaction, the price of the transferred token almost immediately recovers. But for now, Sun's main wallet contains ERC20 tokens that are worth only $15,000 in total, and most of these currencies aren't even liquid enough to sell.