Injective (INJ)
Injective Protocol (INJ) is currently trading at $13.45 with a market capitalization of $1.1 billion. The volume of transactions in the last 24 hours was $83.7 million, and the outstanding supply of INJ was $83.8 million. The average holding period for this cryptocurrency is 17 days. INJ is ranked as the 33rd most popular cryptoasset and its all-time high was $25.01. However, the price has recently dropped by 0.28% and 3.17% in the past few hours and 24 hours respectively, despite gaining 22.56% over the past seven days.
Cardano (ADA)
Cardano (ADA) is currently priced at $0.30 with a market cap of $10.6 billion, making it one of the largest cryptocurrencies in terms of size. The trading volume in the last 24 hours was $232.8 million, indicating continued interest in the token. With an outstanding supply of 35.2 billion ADA, Cardano is well-distributed, leading to greater price stability compared to projects with limited supply. The average ADA holding period is 206 days, suggesting long-term investment strategies among many investors. Cardano ranks 7th in cryptocurrency popularity and its all-time high was $3.10.
Ripple (XRP)
Ripple (XRP) is currently trading at $0.57 with a market cap of $30.6 billion, making it one of the most significant cryptocurrencies by market cap. The trading volume in the last 24 hours was $1.6 billion, indicating high liquidity and investor interest. With 53.6 billion XRP outstanding, there is ample availability in the market. The average holding period for XRP is 74 days, suggesting an active trading pace. XRP ranks fourth in terms of popularity among cryptocurrencies, and its all-time high was $3.84. The price has risen by 3.78% in the last 24 hours and 5.98% over the past week.
Cardano’s Impressive Q3 Performance
Cardano had an impressive performance in the third quarter of this year, as highlighted in Messari’s latest report. The value of Cardano’s stablecoins grew significantly, rising 16% quarter-on-quarter and a staggering 461% since the beginning of the year. This rally was driven by iUSD initially, but gained further momentum with the introduction of bridged versions of USDT and USDC through protocols like Wanchain. Cardano also saw a significant increase in the total value locked in (TVL) of decentralized finance (DeFi) assets during Q3, with a 198% increase over the previous quarter. Cardano recorded impressive figures in terms of active wallet addresses, transactions per day, dApp transactions per day, and daily NFT transaction volume.
XRP Lawyer Criticizes Biden’s Executive Order
XRP’s lawyer has criticized President Joe Biden’s executive order on security standards for artificial intelligence (AI), expressing concerns about potential restrictions on innovation. The executive order aims to manage risks associated with AI technology by requiring developers to share security test results and key information with the US government. Companies using advanced AI models must provide results from red team security testing. These regulations have raised concerns within the AI industry, drawing parallels to the regulatory hurdles faced by the US cryptocurrency industry. The debate surrounding the executive order highlights the challenge of balancing innovation and security in emerging technology sectors.
Hot Take: Balancing Regulation and Innovation in Emerging Technologies
The recent executive order on AI security standards and the concerns raised by XRP’s lawyer highlight the ongoing debate on finding the right balance between regulation and innovation in emerging technology sectors. Just as the cryptocurrency industry has faced regulatory challenges, the AI industry now fears similar hurdles. While regulations aim to protect consumers and prevent fraud, they can also impede technological progress. Striking a balance that ensures security without stifling innovation is crucial for the growth and development of emerging technologies. The complexity of this task underscores the need for ongoing discussions and collaborations between industry stakeholders, policymakers, and regulators.
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