XRPL’s fixReducedOffersV1 upgrade initiates 80% consensus countdown

The “fixReducedOffersV1” amendment is now in a two-week activation countdown phase, having garnered approval from over 80% of validators. This amendment signals a significant upgrade for XRPL.

XRP Ledger (XRPL) is set to introduce additional features in the upcoming weeks. As per XRPScan, users relying on rippled v1.11.0 or earlier versions are advised to update their systems. Implementing fixReducedOffersV1, addressing critical issues with DEX offerings, necessitates achieving updates exceeding 80% within 14 days.

Among the amendments introduced in the XRPL v1.12.0 update, fixReducedOffersV1 stands out as the sole amendment securing an 80% consensus, initiating a two-week activation…

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Ex-FTX execs team up to build new crypto exchange 12 months after FTX collapse: Report

Several former FTX executives have teamed up to help build a new cryptocurrency exchange in Dubai with a specific focus on what FTX failed to do — secure customer funds.

Ex-FTX lawyer Can Sun is leading the way with Trek Labs, a Dubai-based startup that received a license to offer cryptocurrency services in the region in late October. Backpack Exchange is the name under which Trek Labs will offer those services.

Sun will receive support from ex-FTX employee, Armani Ferrante, who serves as CEO of Trek’s holding company in the British Virgin Islands, according to a Nov. 11 report by the Wall Street Journal. Ferrante also runs Backpack, a cryptocurrency wallet which is integrated in…

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Bitcoiners pitch draft bill to preserve blockchain, decentralization in Argentina

Non-government organization Bitcoin Argentina presented a draft bill proposing to regulate the cryptocurrency market in a way that preserves decentralization and strengthens public trust.

The proposed legal framework was pitched by Bitcoin Argentina’s president Ricardo Mihura at LABITCONF 2023 in Argentina’s capital, Buenos Aires on Nov. 10. Bitcoin Argentina previously dismissed the idea that the industry needed to be regulated. However, the Bitcoin advocates have since backtracked, arguing that it is necessary to not only pre blockchain but also hold bad actors accountable.

“We have always rejected attempts to regulate the crypto economy, but this time we set ourselves the goal of…

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Web3 Watch: Friend.tech sign-ups falter

This article is part of Blockworks’ Web3 Watch, a weekly roundup of the highlights and lowlights from the culture side of crypto.

Friend.tech is either dead in the water or just getting started, depending on who you ask. 

Usage statistics for the SocialFi app show a plateau in dollar inflows and a drastic slowdown in new users. However, those already on the platform continue to project optimism while awaiting a monetization route for airdropped Friend.tech “points.”

After consecutive days of record outflows in late October, Friend.tech’s cumulative dollar inflows plateaued at around $35 million — meaning capital appears to be staying put amid a broader market…

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Top 10 Trending Crypto Coins of The Day

  1. Niza Global: Market Cap of $22 Million.
  2. GAMEE: Market Cap of $15 Million.
  3. Bitrock: Market Cap of $16 Million.
  4. Dione: Market Cap of $36 Million.
  5. RabbitX: Market Cap of $23 Million.
  6. Tectum: Market Cap of $54 Million.
  7. DinoLFG: Market Cap of $17 Million.
  8. Celestia: Market Cap of $525 Million.
  9. Solana: Market Cap of $26.2 Billion.
  10. Ooki: Market Cap of $10 Million.

Disclaimer: Market capitalizations can vary in real-time. The information provided here is intended purely for educational purposes and should not, under any circumstances, be construed as financial advice.

Mastering the Pullback After Breakout Trading Strategy

Today’s lesson is about a trading strategy called “Pullback After Breakout Entry.” Here’s how it works in simple terms:

  • Breakout: The price moves above a resistance level, showing potential for a strong upward trend.
  • Pullback: After breaking out, the price often falls back a bit to test the former resistance, which now becomes a support level. This is where we look to enter a trade.
  • Entry Point: We buy during this pullback, right at the new support level, anticipating that the price will start to climb again.
  • Stop Loss Area: To protect ourselves in case the price keeps falling, we set a stop loss just below the new support level.
  • Initial Target: If the price moves up as we expect, we aim to sell at least some of our position at a predefined upper target level to lock in profits.

Remember, this is a plan that tries to capitalize on the natural ebb and flow of the markets after a breakout. Stick to the plan, and always manage your risk carefully!

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Crypto funding: A16z bets on blockchain infrastructure

This week, venture fund a16z joined two crypto funding rounds. This follows recent reports from Axios indicating a delay in Andreessen’s upcoming crypto investment initiatives to 2025.

Both rounds centered on blockchain infrastructure ventures.

A16z led a $4.2 million seed round for Pimlico, an infrastructure product working to let wallet developers abstract away parts of the payment process. In a blog post announcing the raise, a16z general partner Sriram Krishnan said Pimlico CEO Kristof Gazso participated in the venture firm’s crypto startup school in Los Angeles. 

“By the end of Crypto Startup School, we were convinced that no one was better equipped to build the supporting…

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November’s Bitcoin Performance: A Decade of Highs and Lows

Bitcoin has written a unique November story each year, creating a patchwork of profit and loss that intrigues investors and analysts alike. The high of 2013 and the slump of 2018 are standout chapters in this ongoing saga.

Below is the annual data that highlights the dynamic nature of Bitcoin’s November performance

  • 2012: +12.23%
  • 2013: +470.94%
  • 2014: +10.97%
  • 2015: +21.44%
  • 2016: +6.27%
  • 2017: +54.18%
  • 2018: -36.54%
  • 2019: -17.55%
  • 2020: +42.77%
  • 2021: -7.22%
  • 2022: -16.26%
  • 2023: +6.91%*

*Note: The 2023 data may be subject to final adjustments.

Is Bitcoin A Commodity | Bitcoin Superiority

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JPMorgan El Salvador Report: Growth Forecast Jumps to 3.9%

In the latest JPMorgan El Salvador report, the leading American financial services firm has revised its growth forecast for the country. The banking firm has commented on the “Bitcoinization” of the Central American country in recently published research, predicting substantial economic growth.

As per reports, in previous documents, JPMorgan predicted that El Salvador would witness year-over-year economic growth of 2.5%, but the number has been revised upward to an impressive 3.9% in the new report. It is important to note that El Salvador was the first country to adopt Bitcoin (BTC) as the legal tender in September 2021 under the leadership of Bitcoin-friendly President Nayib…

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