Cryptocurrency news today | 05-04-2012

Unflappable XRP Soaring

XRP, a token associated with Ripple, has departed unexpectedly higher, to levels that beat where it was even before the SEC filed its suit against Ripple.

XRP soared 17% more than the past 24 hours to a nose-hair beneath $0.70, as of Mon at 9 a.m. (EST).

Looking at its weekly close, XRP, as of yesterday-April 4, completed the seven-day period at $0.63 for its highest weekly draw in 35 months (UToday).

Ahead of the Flare Networks airdrop this past November, XRP got to $0.79, capping an assertive autumn campaign that erased bad memories of a summer mired beneath $0.30. To where XRP fell behind after the SEC, in belated December, sued the distributed ledger firm with which XRP is associated.

ForceDAO’s Debut Tainted

The open and airdrop of ForceDAO (FORCE) began off exquisite yesterday with the FORCE token shooting to over two dollars – but more importantly of those gains went poof after the upstart decentralized finance protocol fell prey to a canny contract exploitation.

Four hackers siphoned xFORCE tokens (a version of FORCE, utilized to facilitate staking) worth over $350,000.

One kindly “white-hat” hacker helped the squad by alerting them to prevent furthermore losses.

NFT Cooling Causes Market To Wonder In-case This The End Of The Start Or …

If non-fungible tokens (NFTs) are a bubble, then the air is coming out, per Crypto-Potato, quoting statistics from Nonfungible.com.

The databases show that the average tag of these tokens has refused 70% from all-time average highs, of around $4,300, seen in February.

“It seems,” Crypto-Potato said, “that the hype for NFTs is fading away.”

U.S.A. Leaders’ Inflation Assumptions Under-Inflated

American central bankers are not anxious about inflation, pointing to statistics pegging levels as being no higher than 2.24%.

But according to a survey by equipmentradar.com, per Bitcoin.com, prices of several staple items in the U.S. are subject to inflation rates that are nowhere close by 2%, including: steel (145%); trail (126%); oil (80%); soybeans (71%); corn (69%); copper (50%); (cotton 35%); coffee (34%); wheat (25%); stocks (24%) and domestic values (8%).

With monetary expansion happening in homely sight, the crypto market, seeing ahead, qualified to see what’s looming, is feeding a rally rooted in absolute concerns about inflation.