The cryptocurrency market is infamous for its volatility, with Bitcoin (BTC) being at the forefront of these fluctuations. Recently, BTC experienced a significant reversal from its peak of over $70,000, causing major cryptocurrencies like Sui (SUI) and Ripple (XRP) to decline in value.
Currently, SUI seems to be holding steady at its support level, but all attention is focused on Bitcoin, which is still under pressure at $67,000. For cryptocurrencies like SUI to maintain their positions, BTC needs to remain above $66,000. If BTC manages to recover and reach $70,000 again, it is possible that cryptocurrencies, including SUI, may experience a price rebound.
Sui has announced a partnership with Google Cloud to enhance data accessibility.
Sui, a Layer 1 blockchain platform, has established a strategic collaboration with Google Cloud through the mediation of ZettaBlock. This partnership enables developers to access real-time blockchain data using Google Cloud’s Pub/Sub service, opening up new opportunities for innovative applications.
The integration aims to enhance security, scalability, and user experience for decentralized applications (dApps), with a specific focus on AI and blockchain. Move, a programming language developed by Mysten Labs for Sui, has been utilized to train Vertex AI, enabling Web3 developers to debug code more efficiently.
This AI-powered technology also assists in code creation, streamlining the development process. Mysten Labs, the creator of Sui, has further integrated AI into its ecosystem by developing an AI-powered code audit tool.
Utilizing Google Cloud’s AI capabilities, this tool detects security vulnerabilities in popular programming languages like Rust, Move, Typescript, and Solidity. It enhances the security of dApps and blockchain-based applications by enabling developers to quickly identify and resolve vulnerabilities.
The final deadline for the Ripple-SEC case is approaching on October 24.
Ripple has taken a significant step forward in its ongoing legal dispute with the SEC. As the deadline approaches, one of Ripple’s co-founders, Chris Larsen, has submitted an important document to the court. This submission follows a procedural warning issued by the United States Second Circuit Court of Appeals to Ripple.
On October 22, the US Second Circuit Court of Appeals reminded Ripple of the need to submit Form C as part of its cross-appeal against the SEC. Chris Larsen promptly responded to the court’s order by filing a “Notice of Appearance.” This action is intended to expedite the process as the October 24 deadline looms.
Ripple must submit Form C for its cross-appeal against the SEC by October 24. Failure to do so may result in the forfeiture of Ripple’s ability to present an oral defense.
XRP price analysis
Prominent analyst Dark Defender has provided insights into the trend of XRP prices, highlighting significant levels and potential objectives. The data suggests a positive future for the digital asset despite previous periods of consolidation.
On Tuesday, October 22, the XRP price experienced a 2.24% decline, continuing its downward trend from the previous day. Investor sentiment remained cautious due to the SEC’s appeal. As investors await the SEC’s opening brief, the XRP price may continue to stay below the crucial $0.55 mark.
If the SEC presents compelling evidence to overturn the Programmatic Sales judgment, the XRP price may drop below $0.50. On the other hand, if the SEC withdraws its appeal or the appellate court refuses to hear testimony due to late filings, the XRP price may reverse its rise since July 2023.
Don’t miss out: DTX coin price poised to soar
With limited funding and no central authority, DTX Exchange (DTX) has been identified by several analysts as one of the most promising initiatives for 2024. The demand for DTX Exchange has noticeably increased since the introduction of the staking mechanism.
DTX Exchange is a major player in the DeFi space, catering to both traditional and cryptocurrency traders with its comprehensive tools. It is a hybrid exchange that combines centralized and decentralized features, built on the VulcanX blockchain.
In its fourth stage of presale, the hybrid platform has raised over $5.5 million. The current price of the DTX coin is $0.08. With the upcoming round expected to raise the token’s value to $0.10, experts are calling this a great opportunity.
Learn more:
– Buy Presale
– Visit the DTX Website
– Join the DTX Community
