December 4, 2020

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Shortly from the Cryptoworld 03/03 | IOTA network will soon be renewed – Bitfinex delists 50 trading pairs

2 min read
Shortly from the Cryptoworld 03/03 | IOTA network will soon be renewed - Bitfinex delists 50 trading pairs

After the weekend, the beginning of the week was again boring on the crypto market. Bitcoin grew slightly throughout the day, but daily movements of $ 200 are not uncommon. Altcoins correlate with Bitcoin, so they grow anyway.

 

IOTA network will soon be renewed

 

Since 29 February, IOTA has been working hard to rebuild the network. Nearly a month after an unknown attacker’s attack, the network should be 100% operational again. According to the information available so far, the network should be operational again on 10 March. Many community members criticized IOTA for its apparent centralization. He claims that the network is “dead and unusable”. On the other hand, it is better for developers to learn about possible network failures as soon as possible than if a failure occurred in a few years, when the cryptoworld will be a little forward again…

 

Dominik Schiener, co-founder of Iota, commented to Cointelegraph:

“While this was a very unfortunate event, it shows that we at the IOTA Foundation are very committed to protecting the funds of the IOTA users and it shows that we have professionally responded to such a major incident. While our trust may be broken for some within the crypto community, our partners still stand behind us and believe in the future of IOTA.”

 

Bitfinex delists 50 trading pairs

 

Bitfinex Cryptocurrency Exchange delists up to 46 different trading pairs on March 6. The reason is to increase liquidity and optimize the stock exchange. Most business pairs are to be against ETH. This list contains about 30 business pairs. For example, OKEx (OKB), Verge (XVG), and Nucleus Vision (NCASH). The other 16 should be against the BTC. Among them HOT, MTN or ZRX.

 

Ripple invests several million USD in projects

 

US Securities and Exchange Commission has revealed that Ripple is actively investing millions of dollars in its business. Last summer alone Ripple invested nearly 12 million BTC in the MoneyGram project. It is to be one of the largest investments in the cryptoworld ever. Similar amounts in several million USD Ripple regularly invests in large companies.

 

Cointelegraph first reported on Ripple’s cash injection into MoneyGram last week. In a recent 10-K filing to the SEC, MoneyGram explained in more detail what these Ripple market development fees, paid in XRP, represent:

 

“The Company is compensated by Ripple in XRP for developing and bringing liquidity to foreign exchange markets, facilitated by the ODL platform, and providing a reliable level of foreign exchange trading activity.”

 

Ripple plans to create a new stablecoin

 

Already in the coming months, according to an updated whitepaper, they plan to create their own stablecoin, which will be primarily intended for the community. The creation of a new stablecoin is supposed to be a response to the high volatility of cryptocurrencies, which inevitably need a safe “refuge”.

 

 

 

 

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