updraftplus domain was triggered too early. This is usually an indicator for some code in the plugin or theme running too early. Translations should be loaded at the init action or later. Please see Debugging in WordPress for more information. (This message was added in version 6.7.0.) in /home/aonyeani76/cryptocurrencypanther/wp-includes/functions.php on line 6131hustle domain was triggered too early. This is usually an indicator for some code in the plugin or theme running too early. Translations should be loaded at the init action or later. Please see Debugging in WordPress for more information. (This message was added in version 6.7.0.) in /home/aonyeani76/cryptocurrencypanther/wp-includes/functions.php on line 6131wpforms-lite domain was triggered too early. This is usually an indicator for some code in the plugin or theme running too early. Translations should be loaded at the init action or later. Please see Debugging in WordPress for more information. (This message was added in version 6.7.0.) in /home/aonyeani76/cryptocurrencypanther/wp-includes/functions.php on line 6131Crypto pundit BarriC has explained why an XRP rally to $1,000 is possible, even though it could mean the altcoin would have a market cap of almost $100 trillion. The pundit also raised the possibility of XRP rallying to as high as $50,000, which he described as “absolutely possible.”
In an X post, BarriC stated that XRP will have to become extremely expensive so that it can be fractionalized and allocated to every bank and financial institution globally. He noted that this will be the case if every bank and financial institution around the world adopts and utilizes the altcoin.
In line with this, BarriC declared that this is why a $1,000, $10,000, and $50,000 price tag is “absolutely possible” for XRP. The pundit has continued to reiterate that XRP can hit the $1,000 price target despite how ambitious it sounds, considering what the altcoin’s market cap will be.
In another X post, he stated that the altcoin could still close out this year at $100 and hit $1,000 early next year. The pundit admitted that quite a few things would have to happen simultaneously, but that anything is possible in crypto. It is worth noting that finance expert Dr. Camila Stevenson recently echoed BarriC’s sentiment that XRP needs to be expensive to be easily adopted by banks for larger volumes.
Meanwhile, BarriC is confident that the XRP adoption among banks is already happening. He recently noted that Swiss bank AMINA plans to start utilizing Ripple payments and, by association, XRP. The pundit also alluded to the fact that Ripple is on course to become a Trust bank after the OCC granted it a conditional approval.
Crypto pundit X Finance Bull highlighted a Trump stimulus and XRP ETFs as catalysts that could drive the XRP price higher. He noted that 20% to 28% of U.S. adults now own crypto, equating to 50 to 65 million people with wallets and market impact. The pundit then raised the scenario in which a small percentage of the proposed $2,000 stimulus check flows into XRP.
X Finance Bull declared that this will create billions in demand, hitting an already rising market. The pundit also mentioned that the infrastructure is in place as XRP ETFs keep launching and banks are onboarding. He added that liquidity finds utility, which is why he is confident that a significant amount of global liquidity could flow into the XRP ecosystem, sparking higher prices for the altcoin.
At the time of writing, the XRP price is trading at around $1.92, up in the last 24 hours, according to data from CoinMarketCap.
Featured image from Adobe Stock, chart from Tradingview.com
While Hawaii and California are the most expensive, doxo also found that West Virginia and Mississippi are the least costliest US states.
All-in-one bill payment service doxo has released a report ranking the most and least expensive states in the US. The report includes details of average household bills in individual US states.
According to doxo in its United States of Bill Pay: State by State Bill Pay Market Report for 2023, the average US household spends $24,557 on annual bills and $2,046 monthly. The report also lists the ten most common bills for the average household in the US. These expenses include mortgage, auto loans, rent, health insurance, and life insurance. Others are mobile phone bills, alarm and security. The last two on the list are cable, internet and phone bills, as well as utilities, such as waste, electricity, gas, sewage, water, and recycling.
The doxo report concludes that Hawaii is the most expensive US state, with the average household spending $3,070 monthly. Hawaii’s monthly average household bill is 50% above the $2,046 national average. According to doxo, the state’s average monthly rent is $1,856, while the average mortgage is $2,247.
The report places California as the second most expensive of US states, with the average household bill at $2,838 each month, 38.7% over the national average. The average California resident spends $1,762 on monthly rent and $2,402 on mortgage. In San Ramon, the most expensive city in California, the average monthly bill is $4,390. Others among the 10 most expensive states for household bills are New Jersey, Massachusetts, Maryland, and Connecticut. Of these 10, Alaska is the cheapest, with $2,335 per household, more than 14% above the national average.
According to doxo, the consumer bill pay market in the US is $3.87 trillion.
The doxo report also lists the least expensive states in the US. Atop the list is Alabama at $1,772 per month, which is 40% of household income and 13.4% less than the national average. Other states on the list are Missouri, New Mexico, South Dakota, Indiana, Kentucky, and Oklahoma. However, doxo reports that the least expensive of US states based on monthly household bills is West Virginia with $1,530, which is 38% of household income, and 25.2% less than the country’s national average.
In the report, doxo says a unique view of expenses, especially with inflation in the US, is necessary. Quoting another report, doxo says most Americans are already feeling the brunt of inflation, or are worried about the near future:
“A recent doxoINSIGHTS report found that three in four consumers (73%) say that inflation is impacting their ability to pay bills. 86% of consumers said they are worried about the impact that inflation will have on their financial health in the future, with 72% saying it would take six months or more until their household’s financial health improves.”
Following West Virginia is Mississippi, the second least expensive, with $1,616 in average household expenses. This is 41% of household income, and 21.1% less than the national average.
Read other personal income news on our website.
Tolu is a cryptocurrency and blockchain enthusiast based in Lagos. He likes to demystify crypto stories to the bare basics so that anyone anywhere can understand without too much background knowledge.
When he’s not neck-deep in crypto stories, Tolu enjoys music, loves to sing and is an avid movie lover.
Developer pointed out fact that present ASICs are created for profit maximalism
According to Dogecoin developer Patrick Lodder, the issue is not because the proof-of-work (PoW) consensus, which requires mining, is not environmentally friendly; rather, energy is the issue, and the cheapest energy is either dirty or a byproduct of another process that is only accessible to large organizations. The developer pointed out the fact that present ASICs are created for profit maximalism rather than eco-maximalism, which is the root of the problem of pollution caused by mining PoW coins. These ASICs also have massive power requirements.
Poignant post by Patrick Lodder, #Dogecoin Core Dev, about “PoW and green”.
Touches on current ASICs being built for profit maximalism, and barriers existing to buy them favoring the wealthy.
Hints at alternatives, linking @RichDevX to the discussion.https://t.co/MELcF2NUXY
— Mishaboar (@mishaboar) October 12, 2022
He claims that ASICs with high buy-in barriers benefit the select few who can afford to spend. He recommends an alternative in the form of smaller ASICs, which consume just enough energy to be run on renewable sources and perhaps a battery.
However, the setback remains that no one is making them. Lodder believes that smaller ASICs can come into existence someday, as he discussed the idea of using “imperfect solar cells,” but this is usually dumped by manufacturers “because they’re not as aesthetically pleasing as the perfect ones.”
According to CNBC, the Bitcoin mining software recently received its first upgrade since late 2012, and a group of businesses, including payments juggernaut Block (previously Square), is working to advance the open-source protocol so that it becomes an industry standard.
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By supporting lower-quality internet connections and enhancing security, the change may make Bitcoin mining more accessible to more users and ensure that miners are fairly compensated for their efforts.
Dogecoin Core developer Chromatic X has debunked a recurrent notion that has persisted in Dogecoin development over the past two years that proof of stake may eventually replace proof of work.
He makes it clear that there are presently no firm intentions or suggestions to depart from the proof-of-work implementation used by Dogecoin. Currently, Dogecoin ranks as the second largest POW blockchain after Ethereum’s transition to proof of stake.
The largest U.S. cryptocurrency exchange Coinbase is on top for spending tons of money by the crypto sector on Super Bowl advertising. Coinbase had spent a record sum on Super Bowl advertising.
Cryptocurrency trading platforms were in the news when they appeared for the first time on the star-studded Super Bowl ads. However, the move did not translate into any surge in new app users.
All the prominent Whigs of the sector, Coinbase Global, FTX Trading, and Crypto.com, featured their advertisements during Sunday’s championship game. However, the exchange and investing platform eToro all saw a fall in U.S. app store downloads over the week before Sunday, according to research firm Apptopia.
Coinbase emerged as the second-highest slot on Apple’s app store ranking of all apps. However, the rank is deduced on least understood factors and analysts believe are based upon usage and velocity of downloads.
According to Adam Blacker, vice president of insights at Apptopia, Coinbase was a clear winner in the sector and came out to become the most recognized brand.
Coinbase unveiled a minute-long ad of a blank screen and a moving QR code, prompting viewers to scan the mobile bar code to learn more. The code also offered a giveaway of $15 worth of Bitcoin for new users within 48 hours of the ad airing. Although, as a result, 20 million hits landed on the company’s page, crashing much to the annoyance of new users was not immediately recorded, according to Apptopia, it could still see a boost from Apple’s app store ranking.
The Seattle Times quotes Blacker saying, “Once you hit the top of the app store, it creates this self-fulfilling prophecy. More people today and tomorrow are going to look at the top of the app store, and they’re going to see Coinbase is up there, and they’re going to download it because it’s just in their face.”
In his note, Owen Lau, an analyst at Oppenheimer & Co Inc., said.
“While Coinbase is one of the largest crypto exchanges in the world, outside of the crypto world, many people still haven’t heard of it; immediately after the release of this ad, there was lots of discussion about this commercial on social media. Some people liked it, and some people hated it. But, we believe Coinbase achieved its mission: getting massive attention.”
The Super Bowl audience is a manifold combination, with about 4 of 10 viewers from the age group of 18 and 49 — a group that comes under the demographic of crypto buyers.
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The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
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