tradingvolume

The Terra proposal dubbed 12141 and titled “Dealing with #CoinMarketCap   and other listings” seeks the community’s approval to gain access to TerraForm Lab’s listed #TerraClassic   on cryptocurrency aggregators like CoinMarketCap the world’s most trusted and accurate source for crypto market capitalizations.

These platforms display key information about crypto assets, such as price data, #tradingvolume , and links to official websites, which are vital for the visibility and reputation of the token. Despite TFL’s bankruptcy, it is still the sole entity that has the ability to log in and control these important management systems. No one else can access or update them without these “keys.” Notably, network validators Interstellar Lounge, JESUSisLORD, LUNCLIVE, moonshot, and Community First $LUNC
were first to vote “Yes” with 99.95% votes in favor.

Allnodes, a node hosting, and validator service has volunteered to temporarily take responsibility for managing access to these dashboards and any related agreements. As a custodian, Allnodes will safeguard and oversee these access rights until the TerraClassic governance decides on a long-term solution.

In other developments in the Terra ecosystem, OrbitLabs a cutting-edge blockchain development team that offers comprehensive solutions for both on-chain and cross-chain decentralized applications, submitted a proposal to the Terra Luna Classic Ecosystem. The primary goal of the proposal is to remove forked modules in the network’s standard upstream modules that have caused the Terra Classic codebase to move further away from the original or “upstream” version. This has increased divergence, driving up maintenance costs because it requires more effort to manage and support the differing codebases.

The Singapore-based company filed for Chapter 11 bankruptcy in Delaware following the collapse of its algorithmic stablecoin UST and its companion cryptocurrency $LUNA
, which precipitated a market implosion wiping out around $40 billion in value last year.

As part of the bankruptcy process, the company may be forced to wind down its operations leading to the closure of its products and services such as the Alliance Hub, Mantlemint, FCD, and API services. If no third parties take them over, the company will shut down on October 30. #LUNC✅   trades at $0.00009238, gaining 0.99% in the last 24 hours as its trading volume surged 73.14% while its market cap stands at $526 million.
#BinanceBlockchainWeek

XRP has recently experienced a significant surge in trading volume, drawing attention from investors and analysts alike. Despite this heightened activity, the cryptocurrency faces a formidable resistance at the $2.30 price level.​
Key Highlights
Trading Volume Surge: XRP's trading volume on Coinbase soared by an astonishing 9,640% within 24 hours, reaching $438 million. This surge is attributed to increased market volatility and growing investor interest.Price Resistance at $2.30: Despite the volume spike, XRP struggled to break past the $2.30 resistance level, indicating a potential consolidation phase before any further upward movement. ​
Market Analysis
Institutional Interest: The surge in trading volume coincides with growing institutional interest in XRP. Reports suggest that XRP depositary receipts (DRs) may soon be available, allowing investors to gain exposure to XRP without directly purchasing the asset from cryptocurrency exchanges.Global Trading Activity: XRP's trading activity isn't limited to the U.S. markets. On South Korean exchanges like Upbit, XRP's trading volume hit $3.7 billion in just 24 hours, surpassing Bitcoin's volume during the same period.
Technical Outlook
Support Levels: Analysts are closely watching the $2.20 and $2.15 levels as potential support zones. Maintaining these levels could be crucial for XRP to attempt another breakout.​Resistance Levels: A successful breach of the $2.30 resistance could pave the way for XRP to target higher price points, potentially revisiting previous highs.​
Future Outlook
The recent surge in trading volume and growing institutional interest suggest that XRP is poised for significant developments. However, the cryptocurrency must overcome the $2.30 resistance level to sustain its upward trajectory. Investors should monitor market trends and technical indicators closely in the coming days.​

#XRP #CryptoMarket #TradingVolume

💡Stay Informed: Don’t miss out! Follow BTCRead on Binance Square for the latest updates and more.✅🌐

📢Disclaimer: This article is for informational purposes only and does not constitute financial advice. Always conduct your research before making investment decisions.