Cryptocurrency News Today TheBitTimes.com

Ripple’s cryptocurrency XRP recorded a major drop in its price today. The asset’s price momentarily dipped to less than $2.20. Even after this, the cryptocurrency is still among the top-performing ones this year. The altcoin recorded a staggering 300% rise from January 1. While the asset is still at a distance from its all-time high, XRP seems to be making strides. The community has increased hopes for the asset during the second half of the last month of the year. Also Read: Bernstein Predicts Amazon (AMZN) To Hit $265 Amid Bullish Markers Ripple’s XRP Shines Through the Day Source: Trackinsight At press time, XRP was trading at $2.41 after a nearly 6% drop over the past 24 hours. The asset is currently 37% below its all-time high of $3.84. Along with its price, the volume of the asset witnessed a major rise. Ripple’s cryptocurrency saw a 36% uptick and currently stands at $22.83 billion. Source: CoinMarketCap It should be noted that Ripple introduced RLUSD, its...

Two Bitcoin Improvement Proposals (BIPs), 300 and 301, have overtaken the conversation in the Bitcoin community. Altogether known as Drivechain, these proposals would activate peer-to-peer trustless pegs between Bitcoin and up to 256 side blockchains (sidechains). Prior to August, a tracker of tweets containing the word “Drivechain” averaged less than a half dozen results per day. Nowadays, there are suddenly thousands of daily tweets about Drivechain. Sidechains using BIPs 300-301 are funded with BTC and withdrawable into BTC, yet they are entirely separate blockchains with independent rules, operations, and tokens. If the Bitcoin community were to activate these Drivechain BIPs, there could be up to 256 distinct sidechains, each denominated in BTC. Up to 256 new sidechains running on Bitcoin Each sidechain could operate any type of blockchain, including copies of existing ones or brand new ones. Indeed, there are already testnet versions of popular blockchains. For example, ther...