Published in


Sun lightened up cryptomarket

Last weekend turned out to be warm and pleasant. Still, the reason was not just the bright autumn sun, but also Justin with the speaking surname Sun who illuminated the digital market with optimistic news. However, Ripple co-founder Chris Larsen cast clouds over the clear sky… Let’s review the main highlights of the last week!

At the end of the week, in a published press release, the Tron development team announced the beginning of cooperation with the cryptocurrency custodian BitGo, the owner of the Wrapped Bitcoin (WBTC) project. The companies plan to jointly issue WBTC as a TRC-20 standard token based on the Tron blockchain.

According to Justin Sun, the bitcoin-backed token will open up new opportunities for users of De-Fi networks who pay excessively high fees for ETH transactions. Remarkably, the increase in fees was due to the recent release of the Uniswap exchange’s own UNI token.

Meanwhile, Ripple co-founder and billionaire Chris Larsen made XRP coin holders nervous — players started worrying after a message on Twitter published by Whale Alert, an analytical service that tracks cryptocurrency transactions. The tweet said that the market recorded a large transaction in the amount of 500 million XRP (about $115 million) to an unknown wallet. According to the service, the transfer was made by the famous Chris Larsen.

Ripple holders seriously suspected that Larsen was preparing to dump the asset, but soon the billionaire replied with a post in which he explained that he had transferred funds for storage to the New York Digital Investment Group (NYDIG) custodial service. However, not everyone is ready to believe this story, and against the background of skeptics ‘ doubts, XRP lost some points at the end of the week. Will Larsen be able to convince the market of his sincerity, or will players’ distrust continue to weaken the coin? Time will tell.



Get the Medium app

A button that says 'Download on the App Store', and if clicked it will lead you to the iOS App store
A button that says 'Get it on, Google Play', and if clicked it will lead you to the Google Play store