According to an email sent to Canadian users, the platform is set to delist 10 cryptocurrencies, including popular tokens like Cardano ($ADA), Dogecoin ($DOGE), and Shiba Inu ($SHIB). his decision aligns with Uphold’s efforts to comply with Canada’s cryptocurrency regulations, which see it removed cryptocurrencies categorized as Tier 3 as part of the platform’s agreement with the Ontario Securities Commission to facilitate its registration process in the country.

The cryptocurrencies being delisted also include XDC Network ($XDC), Stellar ($XLM), Injective ($INJ) and Hedera ($HBAR).  Tier 4 tokens, including Terra Classic ($LUNC) and the Solana-based memecoin $BONK, are also being delisted.

Those holding affected tokens, such as Dogecoin, Shiba Inu, and Cardano, have been given 30 days to either withdraw these tokens or convert them into other supported cryptocurrencies on Uphold.

Users who fail to act by January 15, 2024, will have their assets automatically converted into Canadian Dollars (CAD).

The delisting notably didn’t affect the native token of the XRP Ledger, XRP, nor did it affect other leading cryptocurrencies including Bitcoin and Ethereum.  Uphold is well-known for being pro-XRP, recently launching a 10,000 token airdrop to users that met specific eligibility requirements on the platform.

t’s worth noting that Uphold has, in the past, reaffirmed its support for the native token of the XRP Ledger. Earlier this year on social media, Uphold reacted to a trend on the microblogging platform Twitter where users kept on asking for trading platforms to relist XRP.

XRP was delisted from several exchanges after the U.S. Securities and Exchange Commission (SEC) sued Ripple Labs over the sale of XRP, alleging it’s an unregistered security, in 2020.

The lawsuit alleges the firm paid cryptocurrency exchanges to permit “the buying and selling of XRP” on their platforms. At the heart of the lawsuit is whether XRP is a security that should have been registered with the regulator or not.

Uphold reacted to the trend by pointing out that XRP is listed on it, and later affirmed it was never delisted. As CryptoGlobe reported at the time, Uphold revealed then it was going to maintain XRP listed until the SEC’s lawsuit against Ripple Labs is resolved and legally determines that the token is a security.

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According to blockchain analysis service Lookonchain, the trader managed to make his 4827x gains in just two weeks by trading the cryptocurrency after spending 17.26 AVAX tokens, worth $454 at the time, to buy 4.86 trillion COQ tokens through a total of seven addresses.

The trader then sold 4.61 trillion COQ for 32,251 AVAX and $259,000 to realize some of their gains, while keeping 250 billion COQ tokens worth over $700,000 in their wallet, presumably as they expected the price of the hen-themed token to keep on rising.

The trader’s success comes at a time in which Solana-based memecoins have been soaring, with BONK seeing its price rise to the point that Solana’s Saga smartphone, once facing sluggish sales, recently sell out over a lucrative 30 billion token airdrop for phone owners.

The airdrop, at its peak, saw BONK’s price top that of the smartphone, making it profitable to buy the phone just for the tokens. As CryptoGlobe reported, a trader has managed to make a profit of around $784,000 on the token after it was recently listed on major cryptocurrency exchange Binance and Coinbase.

Earlier this year, BONK moved to burn a total of 5 trillion tokens that were allocated to them at a time in which the digital asset’s price was dropping after moving up significantly after launch.

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According to on-chain monitoring service Lookonchain, after BONK was listed on leading cryptocurrency exchange Binance its price rose above $0.00003 after rising by more than 1,000% in a single month.

The trader managed to then sell their 52.3 billion BONK stash for a total of $927,000, making a profit of $784,000 in the process. The trader, according to the service, bought 69 billion tokens at $0.0000021 and staked them between October 30 and November 29.

The cryptocurrency was trading at around d $0.00000016 back in October before it started surging, with its upward move seemingly being fueled by various listings on major cryptocurrency exchanges and the large adoption of Solana, as the network recovers from the collapse of FTX.

BONK’s price performance has seen it become one of the 50 largest digital assets by market capitalization, as it now has a $1.8 million market capitalization, which places it in sixty ninth place, above Render and behind Mantle.

The cryptocurrency’s team describes it as the first Shiba Inu-themed Solana-based cryptocurrency that is “for the people, by the people.” 

Earlier this year, BONK moved to burn a total of 5 trillion tokens that were allocated to them, at a time in which the digital asset’s price was dropping after moving up significantly after launch.

Its price rise has helped Solana’s Saga smartphone see sales skyrocket as each device gives the buyer an airdrop of 30 million BONK tokens, whose value is now above that of the smartphone itself.

This disparity has sparked a surge in sales, with the Saga phone’s sales figures multiplying more than tenfold in just 48 hours. Solana co-founder Raj Gokal confirmed this dramatic increase, noting that the phone is now on track to sell out before the new year.

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In a recent interview with attorney John Deaton Pal, who is now the CEO of Real Vision, revealed he invested in XRP after the U.S. Securities and Exchange Commission (SEC) sued Ripple and two of its executives while claiming XRP was an unregistered security.

Per Pal, the price then ended up being “massively discounted” while “half the people have been shut out of the market,” which created the “opportunity of a lifetime.” He then bought XRP and held onto it ever since.

https://youtube.com/watch?v=ve9ixRK_udU%3Ffeature%3Doembed

The SEC announced back in December 2020 that it had “filed an action against Ripple Labs Inc. and two of its executives, who are also significant security holders, alleging that they raised over $1.3 billion through an unregistered, ongoing digital asset securities offering.”

At the time the price of XRP plunged to a low around $0.27 before it started recovering, as it was delisted from various major cryptocurrency exchanges. The cryptocurrency has since been relisted on most, and is now trading at $0.63 per token.

To Pal, once the crisis arrived the “price gets absolutely smashed, but I can see that there is a vibrant community with real use cases of the chain going on.”

As reported, earlier this year Pal revealed he believes the cryptocurrency space could expand to manage an eye-popping $1 quadrillion in value, given the right circumstances.

In an interview, Pal highlighted the potential ramifications of BlackRock’s recent push for a spot Bitcoin exchange-traded fund (ETF), which was followed by several financial behemoths with over $27 trillion in assets under management moving into crypto, saying it could potentially lead to massive amounts of capital moving into blockchain and crypto platforms.

Earlier this year, Pal offered an optimistic outlook on the trajectory of the cryptocurrency markets. He anticipated that the crypto sector would rally out of its current bearish state faster than it did in 2019, expecting considerable growth within the second half of the year.

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Speaking on Raoul Pal’s Real Vision show, Novogratz revisited his previous skepticism about Ripple XRP saying he was “skeptical that XRP would have lasting power”  as Ripple itself owns a large supply of the digital currency.

Per his words he’s been “dead wrong” as Ripple is now an “institution” and the “XRP army is real” and cares both about the token and the ecosystem surrounding it.

Novogratz initially harbored reservations about Ripple’s substantial control over XRP’s supply, fearing it could negatively impact its business strategy. However, Ripple’s persistent growth and resilience have led Novogratz to reevaluate his position.

Turning his attention to Bitcoin, Novogratz expressed doubts about its practicality as a commonly used currency for everyday transactions, noting that despite Bitcoin’s initial design as a transactional currency, it has not gained widespread adoption for purchasing goods and services.

Novogratz also offered insights into the U.S. government’s recent fiscal policies. He noted the considerable increase in government spending, which now represents about a quarter of the country’s GDP. While acknowledging that this spending has boosted the economy, he warned of potential long-term effects, hinting at future challenges.

Novogratz was also skeptical when it comes to the potential of a spot Ethereum exchange-traded fund, compared to a spot Bitcoin ETF, suggesting an Ethereum-based fund’s performance might rely on the inclusion of staking rewards to attract inflows.

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According to popular cryptocurrency analyst Ali Martinez, over the last three months there has been a significant increase in ADA transactions worth over $100,000 to the point these have been “reaching new highs consistently.”

This surge, according to the analysts, pointed to growing interest from high-net-worth individuals on the smart contract platform in what is “usually a precursor to price spikes.”

Large-scale investments tend to bring liquidity and stability to the market, which can attract more investors. However, it’s important to note that the cryptocurrency market is known for its volatility, and investor sentiment can shift rapidly. The rise in large transactions comes at a time in which the cryptocurrency market keeps moving up, with Bitcoin now being up over 150% year-to-date and trading above $40,000, while Cardano’s ADA moved up 63% so far this year to now trade at around $0.40.

The rise also comes amid a growing number of bullish Cardano price predictions ,with various analysts predicting Cardano could move to as much as $30 by next year, and with one price prediction pointing to a surge of as much as 10,000% for ADA by 2025.

The Cardano network has been steadily growing, having seen the creation of 9.1 million native tokens and the establishment of over 81,400 token policies. The network has processed over 79 million transactions.

The total value locked on the network’s decentralized finance (DeFi) protocols has been steadily growing this year to now stand at $272 million, up from around $50 million at the beginning of the year. In ADA terms, it grew from around 200 million ADA to over 670 million at the time of writing.

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According to data from on-chain analytics firm IntoTheBlock, the Dogecoin network surpassed five million addresses with a balance on November 27 after the metric started growing exponentially. The number of active addresses on the network, meanwhile, has more than doubled to reach 168,000, the highest level since March of last year.

The rise came amid a growing number of confirmed transactions on the Dogecoin network as the cryptocurrency’s price rose around 16% over the past 30 days to now trade at $0.08 per token.

The rise came after a “massive amount” of older DOGE started moving out of wallets that has been dormant, in a sign that the price of the meme-inspired cryptocurrency could soon move upward.

The meme-inspired cryptocurrency has failed to keep up with the performance of other major digital assets this year, rising about 14% so far compared to the flagship cryptocurrency Bitcoin, which moved up nearly 130% year-to-date.

As CryptoGlobe reported, Dogecoin futures contracts’ open interest has also recently surged by around 40%,  suggesting there’s heightened risk appetite among traders in a trend that has historically signaled local price peaks in the realm of cryptocurrency markets.

While a rise in open interest typically signals a bullish sentiment among futures traders, an excessively high or sudden spike can serve as a bearish indicator, hinting at an impending shift in market trends as traders potentially initiate short positions.

DOGE has historically seen significant rallies over short periods of time. Back in 2021,  search interest for Dogecoin exploded during the cryptocurrency’s massive 10,000% price rally, going from an average of 135,000 monthly searches in April 2020 to 16.5 million in April 2021.

Dogecoin was created back in 2013 as a joke. The cryptocurrency’s community is well-known for taking on philanthropic projects, which included helping charitable organizations. It made headlines in 2014 after raising more than $25,000 worth of DOGE to let the Jamaican bobsleigh team attend the Winter Olympics in Sochi.

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According to a detailed report from the New York Times, the move was initially perceived as a daring sidestep from conventional filmmaking investments and turned into a rollercoaster ride of financial gains and losses, mixed with personal drama and legal disputes.

Netflix invested $55 million in the product of the ambitious sci-fi series “Conquest,” under Rinsch’s guidance, which was supposed to a major project for the steaming service. Production delays, budget allocation deviations, and other problems led to Netflix not seeing a single episode of the show,

In a bold move, after getting Netflix to go over its initial $44 million budget for the show, Rinsch received an additional $11 million under the condition the show would be completed.

The executive, however, redirected part of the series budget into the stock market, including a risky options bets on the S&P 500 and pharmaceutical stocks, which led to a loss of nearly $6 million.

Rinsch then ventured into the world of cryptocurrencies, betting $4 million on Dogecoin through cryptocurrency exchange Kraken. Unlike his options trades, this move turned a profit of $27 million that was followed by a spending spree.

He reportedly acquired luxury vehicles, high-end fashion, and a collection of extravagant watches in purchases that were revealed during divorce proceedings. Rinsch claimed these purchases were made as props for the series during the proceedings, before, in a separate case against Netflix, he said the funds were his own.

Amid this financial saga, Rinsch found himself embroiled in a legal tussle with Netflix. He filed a confidential arbitration proceeding, seeking $14 million in damages, alleging breach of contract. Netflix, on its part, has strongly refuted these claims and called them a shakedown.

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According to a recently published announcement, the firm is launching a “regular offering” of XRP and SHIB lending that allows its users to lend either token for a period of 90 days to earn an annual percentage yield of 2% on their lent holdings.

The announcement details that to lend out XRP through its platform users must apply a minimum of 100 XRP to lend, with toe total amount of applications and the maximum amount allowed to lend being of 500,000 XRP.

As for users looking to earn interest on their SHIB holdings, they would have to lend a minimum of 10 million tokens, with the maximum amount that they’re allowed to lend being 10 billion tokens.

The Japanese crypto trading platform added support for the two most popular memecoins by market cap – Dogecoin (DOGE) and Shiba Inu (SHIB) – about a month ago. This increased the number of digital assets that the exchange offers to 34.

As reported, a massive SHIB whale earlier this month moved over 4.4 trillion tokens to a wallet whose ownership hasn’t yet been identified, with the transaction being worth more than $35 million.

The transaction comes shortly after the burn rate of the meme-inspired cryptocurrency  surged to a whopping 14,380% over a 24-hour period after the lead of the project’s marketing team unveiled an ambitious strategy for 2024 and 2025.

XRP, on the other hand, has been forecasted to soon see a “mega pump” by a cryptocurrency analyst who used technical analysis to reach his conclusion.

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In a post shared on the microblogging platform X (formerly known as Twitter) with their over 140,000 followers, analyst CryptoBull projected that the price of XRP would breakout of its current symmetrical triangle formation on the monthly chart to skyrocket up to $470, which would mean a rise of over 79,000% to a market capitalization of over $25 trillion, up from XRP’s current $0.594 price tag and $31.9 billion market capitalization.

A symmetrical triangle, it’s worth noting, is a common chart pattern that shows the price of a security moving within two narrowing lines that signals the market is indecisive and waiting for a catalyst to trigger a breakout or a breakdown.

Per the analyst, XRP’s price chart first saw this pattern emerge back in 2013 after falling from around $0.061 to $0.0037 by 2014 before recovering. The pattern led to a 600% price surge, while the second time it was formed XRP surged in early 2018 to a new all-time high of $3.3 after a 75,000% rise. A third symmetrical triangle led to a 1,000% rise.

Crypto Bull suggests XRP is now in its fourth symmetrical triangle and anticipates a breakout in the near future, which could see XRP first move to $4.2, before seeing a jump to $7.2 with the potential to reach $470.

While some investors are enthusiastic about these targets, others express skepticism, particularly regarding the $470 target. The sheer scale of this prediction has raised eyebrows, as it would represent a seismic shift in the cryptocurrency market.

As reported, in a recent technical analysis a popular analyst has said that XRP could soon see a “mega pump,” although the analyst said investors should “exercise caution.”

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In a post published on the microblogging platform X (formerly Twitter) to their nearly 40,000 followers, analyst Egrag Crypto used a technical tool that uses moving averages and standard deviations to map out potential price movements, the Gaussian Channel, to identify support and resistance levels ahead for XRP.

The analyst noted that the “alignment of support and resistance price targets “ within the framework of the Gaussian Channel “mirrors other charts,” which adds to their significance. The analyst identified support levels at $0.50, between $0.54 and $0.55, and at $0.60.

As for resistance levels, the analyst pointed to a barrier between $0.83 and $0.85. XRP, it’s worth noting, is, at the time of writing, trading at $ 0.61 per token.

The analyst noted that a symmetrical triangle, a pattern used in technical analysis that signifies an asset is undergoing a period of consolidation before breaking out or breaking down, shows a potential surge could occur if the asset surpasses it resistance level.

Egrag Crypto told the XRP Army, the community behind xRP, to “anticipate the forthcoming mega pump,” but advised investors to “exercise caution by strategically allocating portions of your holdings” and pointed to dollar cost averaging as a strategy.

As reported, another analyst has recently suggested XRP could soon surge to reach $1.35 in the near future as the cryptocurrency’s open interest recently surged, and a break above a key trendline could be the “start of an aggressive move for XRP.”

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In a recently published video the founder of Crypto Capital Venture Dan Gambardello noted that he believes Cardano is gearing up for a bull run, predicting a dramatic increase in its value which would see it surge nearly 2,800% from its current $0.38 price tag to $11 following the Bitcoin halving event scheduled for the upcoming spring.

https://youtube.com/watch?v=rzFPSQ7Fe8A%3Ffeature%3Doembed

Other analysts have been bullish on the price of Cardano’s ADA, with popular analyst Ali Martinez recently noting that ADA’s current consolidation trend “eerily mirrors” that of 2018-2020, without the COVID-19 crash.

Per the analyst, if the trend is to repeat itself, the price of ADA could break through the $0.45 resistance in early December, which would set it up for a surge to $0.75 by the end of next month.

As CryptoGlobe reported, Cardano’s percent price performance has seen 38% of ADA holders be in a state of profit on their investment, in a rise that came amid growing adoption, which is clear by the growth of its decentralized finance (DeFi) ecosystem.

Data from DeFiLlama shows that the total value locked (TVL) on Cardano’s DeFi protocols has grown from around 200 million ADA at the beginning of the year to now stand above 670 million tokens. In USD terms, the TVL grew from $50 million to $56 million at the time of writing.

Moreover, Cardano has also maintained its top stop in cryptocurrency development activity after surpassing the “blockchain of blockchains” Polkadot ($DOT) and its public pre-production environment Kusama ($KSM).

More bullish price predictions suggest the price of Cardano will explode over the next year to reach the $30 mark, with crypto analyst Lucid basing this prediction on global inflation acting as a catalyst for the cryptocurrency market’s total capitalization to grow past the $10 trillion mark.

It’s worth noting that institutional investors are showing interest in Cardano. According to CoinShares’ latest Digital Asset Fund Flows report, Cardano-based investment products attracted over $800,000 last week, bringing the total investment for the year to $8 million.

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