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#FDUSD Heated debate is raging in the Cardano (ADA) community. While some influencers enjoy all aspects of activity upsurge - including those dangerous for ADA holders - the opposite side accuses them of being fascinated by "drama."
Launches, rugs, drama: Cardano (ADA) ecosystem has arrived, community says
Pseudonymous Cardano (ADA) enthusiast who goes by @cardano_whale on Twitter admitted that he is "loving the chaos" the Cardano (ADA) ecosystem is going through these days. He noticed a number of unusual events that resulted in solid "FUD and hype" for the blockchain and dApps using it for their operations.
Even though I don’t have a huge desire to participate in it as a twitter personality, kind of loving the chaos in Cardano these days. Launches, rugs, fights and drama, people doing 10x, people getting rekt, Catalyst 40% gems and 60% garbage, hype, FUD. This ecosystem has arrived— ADA whale (@cardano_whale) August 3, 2023
In recent weeks, Cardano (ADA) and its supporters witnessed launches, "rugpull" events, "drama", 1, 000% rallies of tokens and painful liquidations. Also, Project Catalyst, the largest community-driven incubation initaitive in Web3, came under fire due to shady nominees.
At the same time, these events, though painful and dangerous for the community, are signals that the Cardano (ADA) ecosystem has "arrived," @cardano_whale concluded.
Another Cardano (ADA) enthusiast, who goes by @Cinnamon__Bunnn, also pointed out that this is how a blockchain ecosystem should look like in its infancy. However, they were not happy about the manner in which some people "pride themselves on staying out of drama."
As covered by U.Today previously, in June 2023, Cardano (ADA) inventor Charles Hoskinson slammed critics who accused him of spending "others' " money.
A wave of criticism raged when Hoskinson shared the details of his ocean expedition.
Project Catalyst under criticism, here's why
Another scandal involved Project Catalyst, a large-scale Cardano (ADA) community incubator. Some enthusiasts found very suspicious applicants who were seeking too much funding.
Besides that, the previously unknown RFLXT team claimed that it was cofounded by Charles Hoskinson himself. In total, they asked for 5.8 million #ADA from Project Catalyst Fund 10.
Last but not least, in Q3, 2023, a series of announcements about "rugpulls" on #Cardano ($ADA ) were spread on #Twitter . Teams of tokens CNETA, CHRY, TEDDY, GRABBIT and POP were accused of malicious manipulations and draining liquidity from their customers.#GOATMoments

#FDUSD An address that participated in Ethereum's initial coin offering woke up and moved coins for the first time in eight years — transferring out 641 ether, worth nearly $1.2 million.
On-chain analytics #Twitter account Lookonchain noted that the address moved the ether in order to stake it.
More than 2,922 days ago, the address in question received exactly 2,000 ether from Ethereum's genesis at a price of roughly $0.31 per coin. That total amount is worth more than $3.72 million today.
This is not the first time this summer that Ethereum ICO participants have made moves after a long period of inactivity.
Earlier this month, an Ethereum ICO participant transferred 61,216 #ETH — worth over $116 million at the time — to Kraken. That followed a similar transfer of $15 million in May and a significantly smaller transfer in April.#MultiChain
#WLD

#GOATMoments Ripple legal officer expects US banks to adopt Ripple’s cross-border payment solution following the court ruling that XRP is not a security.
According to a Ripple executive, the recent landmark ruling declaring XRP a non-security paves the way for US banks and financial institutions to adopt Ripple’s solution for cross-border payments.
In an interview with CNBC, Stuart Alderoty, Ripple’s Chief Legal Officer, expressed confidence that American banks would return to Ripple’s On-Demand Liquidity (ODL) product.
Specifically, when asked if the US court ruling would lead to increased interest from banks, Alderoty replied, “I think the answer to that is yes.”
According to the lawyer, Ripple plans to initiate discussions with US-based financial institutions in the next quarter of the year regarding adopting its ODL solution, which leverages #XRP for efficient money transfers.
The Ruling is Comfort to Banks
Furthermore, Alderoty emphasized that the court decision would provide comfort for financial institutions to engage in conversations about the challenges they face in cross-border value transfers, particularly regarding high fees.
The legal officer stated, “Hopefully, this quarter will generate a lot of conversations in the United States with customers, and hopefully, some of those conversations will actually turn into a real business.”
Alderoty also revealed that while most Ripple employees are from the United States, its primary business and revenue are from abroad.
Recall that the judge’s ruling also supported an argument by the Securities and Exchange Commission (SEC) that Ripple’s sale of $XRP to institutional investors is considered a security offering.
Regarding the impact of this component on Ripple’s business, Alderoty clarified that since most of its customers are abroad, it would remain largely unaffected. He mentioned that Ripple would carefully analyze the judge’s decision, assess market needs, and ensure compliance with the judge’s findings concerning institutions.
Over 4K US Banks to Use Ripple Solution
Meanwhile, in a game-changing development, #Twitter user WallStreetBulls highlighted that a staggering 4,096 commercial banks and 576 savings and #loan associations, holding an astonishing $23.7 trillion in combined assets, are set to revolutionize cross-border settlements via Ripple ODL.
However, it is important to note that this is merely a projection from Wall Street Bulls, considering the number of commercial banks in the United States. The extent to which any US bank will leverage ODL remains to be seen.#Binanceturns6

#MultiChain The price of X token has increased by 2000% in the last 24 hours. This comes after ElonMUSK changed his #Twitter profile picture to an X as part of his rebranding plans. On July 23, the billionaire spoke about the upcoming rebranding of his social network. In a series of tweets, the businessman shared his plans with subscribers, which, among other things, include changing the name of the site to "X".
#cryptocurrency called X is associated with a multi-chain decentralized #NFTS market. The official website mentions that the token is owned and operated by the X community and is managed by the X DAO. It is also reported that the NFT marketplace is now closed.
According to Coingecko data, the price of the X token has jumped over 2000% in the last day, and its price has increased by 1830% in the last 7 days. Token X is trading at an average price of $0.000392 at the time of writing. Trading volume for 24 hours increased by 142,779% and amounted to $133,491.
Image: Coinpedia#GOATMoments