The post Pi Network News: Major Upgrade Paves the Way for Public Launch! appeared first on Coinpedia Fintech News As part of Pi Network’s effort to prepare for opening its doors to the public , the network has taken a major leap forward with its mainnet upgrade to Protocol Version 19. Reports indicate that the upgrade has enabled the network to achieve notable advancements in transaction speed and interoperability. Curious to know more? Read on! Enhanced Scalability with Layer 2 Solutions The upgrade has allowed the network to integrate with Layer 2 solutions . The network has created express lanes for transactions. It can process at least 1.19 million transactions per second. The ability of a network to handle a large volume of users and applications simultaneously determines its efficiency and competitiveness. https://twitter.com/WoodyLightyearx/status/1887763129729224987 Bridging the Gap: Interoperability with Other Blockchains The upgrade has also helped the network enhance its bridging capabilities. The newly attained interoperability feature of the network allows it to easily transfer assets and data between different blockchain platforms. Strengthening the interoperability capability is essential for expanding the ecosystem of Pi Network. Preparing for Open Network Launch Pi Network is currently in a testing phase, and only certain people can join and use it. The network is preparing for its Open Network launch, which is like opening its doors to the public. Once the launch is complete, anyone can join, use its crypto Pi, build apps on the network and participate in the Pi ecosystem. Undoubtedly, the advancements the network has made through its latest update could help it achieve a much smoother launch. .article-inside-link { margin-left: 0 !important; border: 1px solid #0052CC4D; border-left: 0; border-right: 0; padding: 10px 0; text-align: left; } .entry ul.article-inside-link li { font-size: 14px; line-height: 21px; font-weight: 600; list-style-type: none; margin-bottom: 0; display: inline-block; } .entry ul.article-inside-link li:last-child { display: none; } Also Read : Pi Coin Surges 10% Despite KYC Delay: Is $100 in Sight Before Mainnet Launch? , Pi Network Market Overview In the last one year, the Pi Network market has experienced a rise of 3372.5%. In the last 24 hours alone, the market has witnessed a surge of 10.9%. The price of Pi Network stands at $44.64, and the 24-hour trading volume of the network remains at $332,378. However, in the last 30 days, the market has slipped by at least 8.9%. Pi Network’s latest upgrade marks a significant step toward mainstream adoption. 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Tether Partners with Reelly Tech to Boost USDT Adoption in UAE Real Estate; Surge in Stablecoin Inflows Signals Market Shifts
Tether, the issuer of the world’s largest stablecoin, USDT , has signed a Memorandum of Understanding (MoU) with Reelly Tech, a leading real estate B2B platform in the UAE. This partnership will enable more than 30,000 local and international agents using the Reelly Tech platform to transact in USDT, part of a broader effort to make the stablecoin more useful outside of its traditional, closed-loop stablecoin utility. These agents might be using USDT as a payment method for virtual real estate. As concerns about the USDT’s backing persist, a major testing ground for the stablecoin’s utility is shaping up in the UAE real estate market. Tether has signed an MoU with Reelly Tech, one of the UAE’s real estate B2B platforms. More than 30,000 local and international agents on the Reelly Tech platform will be able to use USDT to streamline processes and increase efficiency. https://t.co/qi29fxj3bO — Wu Blockchain (@WuBlockchain) February 6, 2025 Simultaneously, this week has been a giant uptick in activity for stablecoins, anchored by a jaw-dropping $2.72 billion USDT being ushered into exchanges. This massive amount arriving on exchanges has sparked a whole lot of excitement in the market as it has sent everyone’s imaginations running with what might be happening here. Could this be an enormous prep for a market move that folks seem to love using USDT for? Could this be pre-leveraging? Could this be something much, much bigger? A Strategic Partnership with Reelly Tech to Expand USDT Usage Tether’s agreement with Reelly Tech is an important step for USDT in moving into new territory. Most of the time, USDT (and the other stablecoins) are used in the same context as Bitcoin and other cryptocurrencies: that is, in trading on or between exchanges. The deal between Tether and Reelly Tech is focused on using USDT, and by extension Tether’s other products, as a way of paying for real estate in the UAE. By getting into that market, Tether is clearly attempting to push USDT into a new context, where it can pay for things, into an area where people before had only used fiat currency. Reelly Tech, a leading real estate platform with a strong foothold in the UAE, will now enable over 30,000 agents to use USDT for real estate transactions—buying, selling, and leasing—in that nation. This is expected to speed up such transactions, limit the problems associated with converting one currency to another, and improve the transparency of these often murky deals. For agents and clients, the stablecoin’s use could simplify account funding, especially when dealing with international transactions or using a stablecoin to pay for a high-value asset in a high-inflation environment. As the UAE sets itself up as a global center for the adoption of cryptocurrency, the partnership between Tether and Reelly Tech takes us a step further toward marrying the Blockchain and digital asset world with traditional sectors. And we should pay particular attention to this collaboration because, guess what? It’s real estate that really stands to gain from this partnership. USDT’s stability, alongside its widespread use across crypto exchanges, presents a solution that could very well make property deals involving both domestic and international investors as straightforward as local governance will allow. Record Stablecoin Inflows: A Sign of Market Sentiment This week saw the titanic transfer of $2.72 billion USDT to exchanges that in turn established the largest net inflow of stablecoins since 2022. This inflow is all the more interesting when you consider it in the context of the recent market downturn, which had us liquidating across the crypto space. What does it mean? Well, one theory is that we traders are using stablecoins like USDT as collateral to protect ourselves on the not-so-leveraged side of the crypto-i-melt-down. Or alternatively, maybe we’re portending another market move, which could be either up or down from here. The inflow coincides with a wider pattern of market instability. As prices across the cryptocurrency market fluctuated sharply, many investors likely moved their assets into stablecoins to mitigate risk. In the face of volatile market swings, stablecoins like USDT provide a safe haven—liquid and valuing-preserving. They are a risk-off asset. Status as a risk-off asset is especially important during times of liquidation, when prices are dropping precipitously, because “Investors who might have otherwise been panic-selling…could have been moving into USDT instead.” The recent inflow of stablecoins to exchanges may be a sign that market participants are preparing for the next move, big or otherwise. This is exactly what you’d expect in uncertain times, when traders are turning over their portfolios but also taking a more strategic and less reactive path. The last couple of weeks have seen a blend of profit-taking and precautionary moves into cash in the wake of a sharp downturn. Implications for the Broader Crypto Market The inflow of stablecoins and Tether’s increasing adoption in the real estate sector both reflect the overarching trends shaping the cryptocurrency world. Stablecoins—especially USDT—are rapidly establishing themselves as a vital part of the financial ecosystem. They are providing on-ramps and off-ramps to the ecosystem for traders and businesses, representing the sort of stability one might associate with the U.S. dollar. And as Tether continues to find use cases outside of crypto itself, its aspirations to serve as a global bridge between the financial world and the crypto world become even more evident. Furthermore, the arrival of USDT to the exchanges indicates that the market may be on the brink of some volatility or dislocation. While inherently risky, the realm of cryptocurrencies contains within it a certain level of expectedness; prices may go up or down, but they go in those directions for reasons that knowledgeable market players understand and can articulate. What these stablecoin trades suggest, then, is that our market is currently not at a place where knowledgeable players expect a series of articulated reasons to underpin what price changes might occur. $2.72B USDT was sent to exchanges this week, the largest net inflow since 2022! This surge seems to coincide with the recent market dip that triggered widespread liquidations, potentially prompting traders to move stablecoins to exchanges for added collateral and to safeguard… pic.twitter.com/KmP36YWX9n — IntoTheBlock (@intotheblock) February 6, 2025 Stablecoins serve a larger purpose; they are pointedly steering the global economy in the direction of an integrated blockchain and cryptocurrency future. They do so because they have a clearly defined function: to exist as reliable mediums of exchange. And in the integrated global economy, there is no more reliable a medium of exchange than the U.S. dollar, which sheds light on why U.S. dollar-pegged stablecoins, like Tether, dominate the marketplace. Conclusion Tether, through its MoU with Reelly Tech, marks a very big deal going well past just cryptocurrency and into USDT’s presence in real estate—one of the key sectors of the traditional economy. This isn’t USDT’s first venture into brick-and-mortar territory, though, as it had already signaled its intentions to move in that direction by bringing on former live-real-estate auctioneer Patrick O’Hare as its chief business development officer in late 2022. Meanwhile, inbound stablecoin liquidity to crypto exchanges continues to increase. Beyond what seems like an inevitable trend toward more crypto-market infrastructure being built out, this raises another interesting question: What, exactly, is USDT’s role in this newfound liquidity? Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services. Follow us on Twitter @nulltxnews to stay updated with the latest Crypto, NFT, AI, Cybersecurity, Distributed Computing, and Metaverse news ! coinpedia
XRP ETF Filings and Strategic Partnerships Propel the Future of XRPL Ecosystem
The exciting development surrounding Ripple’s $XRP in the world of cryptocurrency has to do with the application for an ETF tied to $XRP . Several major investment funds have applied to launch an ETF tied to $XRP. They are 21Shares, Bitwise, Canary Capital, and WisdomTree. Their applications signify the growing appeal of $XRP among not just retail investors but also institutional investors. And this development comes against the backdrop of a generally maturing cryptocurrency market, a market in which more and more traditional financial institutions appear to be interested in integrating digital assets into financial products. Institutional Interest in XRP Soars Some of the most prominent asset managers in the industry have filed for ETF applications for $XRP. This is a big deal for Ripple and the cryptocurrency climate in general. Why? Because an ETF would provide both retail and institutional investors a more accessible and regulated means through which they could invest in $XRP—without the confusing and often daunting prospect of directly holding or trading in a cryptocurrency. Thrilled to announce our groundbreaking partnership with Girin Wallet to revolutionize the XRPL ecosystem! We`re bringing Supertransactions to $XRP , making multi-chain operations as simple as a single click. No more juggling gas fees or complex bridging steps! Key features:… https://t.co/RUbGxALg59 — Biconomy (@biconomy) February 7, 2025 Vehicles such as the 21Shares, Bitwise, Canary Capital, and WisdomTree have been crucial to the advancement of exchange-traded products for cryptocurrencies. Their interest in $XRP, however, goes beyond expressing a desire to provide products related to the token. The very presence of such firms in the $XRP space—a sign of increasing confidence in the token’s future—hints at a potentially exceptional development story for $XRP. Of course, should these firms secure the various approvals needed to launch an $XRP ETF, that would be the real story. Whales Capitalize on Market Dip With the interest of institutions in $XRP growing rapidly, retail investors are also keeping a close eye on the asset. After the recent market dip, large-scale crypto investors took advantage of the situation and went on a buying spree, accumulating a staggering amount of $XRP. In just a few days, these “whales” netted 520 million $XRP, which speaks volumes about their confidence (and maybe our collective confidence?) in the token’s long-term potential. The crypto community is closely watching these large transactions, since they obviously involve—by definition—large amounts of crypto. What’s more, market sentiment is always an aspect of trading whales that the community pays attention to. And for us to have luxury whales accumulating $XRP in a down market, that’s positive sentiment to project into the community. So obviously, we have to consider the prospect of positive developments for not just Ripple, but its entire network, since that’s what’s going to make the community perceive the price of $XRP positively. Groundbreaking Partnership: Biconomy and Girin Wallet In another exceptional development, Biconomy has entered into a strategic partnership with Girin Wallet to continue to revolutionize the XRP Ledger (XRPL) ecosystem. This collaboration takes aim at the user experience for those interacting with $XRP and the XRPL, attempting to make it as simple as possible for them to engage in multi-chain transactions. One of the key features of this partnership is the introduction of “Supertransactions” to the XRPL, which are designed to streamline cross-chain operations. This new feature allows users to execute transactions seamlessly across different blockchain networks with a single click. Traditionally, users have had to navigate complex steps to complete multi-chain transactions, often dealing with multiple gas fees, bridging processes, and sometimes, complicated interfaces. The integration of Supertransactions into the XRPL removes these barriers and offers a frictionless experience that could drive mass adoption of applications built on top of the XRPL. Biconomy’s Multi-Execution Engine (MEE) has changed the rules of the game. Previously, when a user made a transaction on a blockchain, they were directly responsible for the gas fee of that particular transaction—as well as potentially several other associated transactions. Paying these gas fees was often a pain point because of the price and inconvience involved. MEE operates under the principle that it should not be the user, but rather the system as a whole, that incurs this cost. The gas fee is now an abstracted feature of the system, benefiting the user. The Future of the XRP Ecosystem With the excitement around the filing of an ETF continuing to build, and with what partnership like the one between Biconomy and Girin Wallet do to push the envelope of real-world, XRPL-based possibilities, institutional interest in $XRP seems to be heading ever-forward. And why wouldn’t it? On the regulatory front, $XRP is looking clearer all the time, and it’s not just an ETFs-related story. Biconomy’s Supertransactions and the new multi-chain capabilities they bring are just the tip of the iceberg. They are not even real; they are Simulations; Computer Programs impersonating Reality; Models. The next level is what’s called Cross-Chain Interoperability; programs that run across two or more blockchains. The best current practice in that area is probably what’s called Protocols, which, as far as I can understand, are a set of instructions governing how one program says to another program, “You go first,” or “You finish first,” or some such combination of instructions so that the whole thing operates seamlessly. Whales seized the opportunity during the recent dip, buying 520 million $XRP ! pic.twitter.com/v2Lu4uBMgm — Ali (@ali_charts) February 6, 2025 For retail consumers, the removal of gas-induced migraines and the simplification of multi-chain transactions could make $XRP a “go-to” thing to use if you want to engage in the broader blockchain ecosystem without all the practical complexities that come with it. When you consider all the user-friendly and efficient possibilities that exist for building on the XRP Ledger, what with its accessible and inexpensive nature, it seems ripe for what could be a big era of adoption and utility. Conclusion There is exciting growth and transformation underway in the ecosystem of $XRP. Institutional players have filed for an ETF; whale accumulation signals strong confidence in the asset; and innovations like Biconomy’s Supertransactions promise to take the user experience to a whole new level. All this makes $XRP and the XRPL, the XRP Ledger, one of the most exciting development spaces in the blockchain world. More and more users, and institutions, want to interact and integrate with the XRPL. And, in this context, the currency $XRP looks ever more promising as a real-world, usable token that will have a serious impact on the cryptocurrency and blockchain space. Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services. Follow us on Twitter @nulltxnews to stay updated with the latest Crypto, NFT, AI, Cybersecurity, Distributed Computing, and Metaverse news ! Image Source: pitinan/ 123RF // Image Effects by Colorcinch coinpedia