XRP has risen by over 23% in the last two weeks following the announcement from the CME and CTF that they will be providing reference rates for the cryptocurrency. It has also sparked speculations about an XRP ETF.

XRP is currently enjoying decent gains after an announcement by the Chicago Mercantile Exchange (CME) Group, declaring its decision to offer real-time indices and USD reference rates for both Ripple (XRP) and Internet Computer (ICP). CF Benchmarks will publish these indices daily starting on the 29th of July 2024. CME already has an impressive collection of Cryptocurrency benchmarks, and soon enough, XRP will join that suite. Ripple’s CEO, Brad Garlinhouse, stated, “The first step towards institutional crypto products is to have a trusted benchmark reference rate.” This addition suggests a growing demand among investors for a more accurate and reliable price reference for the currency. XRP currently trades around $0.515, a 26% increase from its price at the start of last week. This shows the positive impact of this integration with a trusted platform. Giovanni Vicisio, the Global Group Head of CF Benchmarks, stated that the new benchmarks will help market participants “better manage their risk” and provide “clear and transparent pricing data.” The daily reference rates will be available between 15:00 and 16:00 UTC and will reflect the currency’s current dollar rates. The pricing data will also rely on some cryptocurrency exchanges and trading platforms, such as CoinBase, Bitstamp, Kraken, and Gemini. The price will be calculated from data from a combination of these platforms, ensuring uniformity and accuracy. Real-time indices will also ensure that constant and current pricing or other related information is available to the general public. Market participants will then be able to make clear and informed decisions as updates are provided by the second. The CF Benchmarks CEO, Sui Chung, mentioned that the new benchmarks will be “subjected to the same rigorous standards as other benchmarks in the CME CF Single Asset Series.” This new development has sparked some speculation about an XRP ETF launch. Garlinhouse had also previously mentioned that creating an XRP ETF is “inevitable”. CME’s decision could also help cement XRP’s credibility and promote its adoption across financial markets.

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San Francisco, USA/California, July 15th, 2024, Chainwire The doors are now open for Web3 and Web2 developers to build on Constellation Network’s long-awaited Hypergraph distributed ledger technology – in development for the past several years under various contracts with the US Department of Defense. Constellation’s Global Metagraph Hackathon is a fully virtual event, free to enter, running from July 15th until September 9th, 2024. A total of $100,000 USD equivalent in $DAG (Constellation Network’s cryptocurrency) will be distributed to winners across several categories encompassing metagraph development and on-chain tooling, with the biggest single prize of $25,000 going to the most successful Metagraph. With its Hackathon, Constellation officially unveils its “metagraph” application layer technology that runs on top of its Hypergraph global consensus layer to a worldwide audience. A metagraph can be any type of Layer 1 decentralized application (dApp) network or legacy Web2 network with its own internal business logic. Other blockchains can even be metagraphs on top of Constellation’s Hypergraph. “Constellation’s Hypergraph is the blockchain of blockchains,” says Ben Jorgensen, CEO of Constellation Network. “The best way forward with Web3 and blockchain technology for all of us is interoperability and collaboration across chains and communities. There are many of us separately building these networks that can support things like decentralized AI, tokenized assets, IoT edge computing, decentralized finance and many other Web3 creations that seem to be popping up everywhere.” “But the Hypergraph?” Ben continues, “This technology can link them all together, make everything interoperable, give them an underlying infrastructure that can secure their networks and validate their data flows.” Panasonic and IBM have partnered with Constellation, along with SIMBA Chain, the C14 cryptocurrency on-ramping service, the Stardust Collective, and the National DigiFoundry, led by members from the US National Science Foundation, the US Space Force, and US Department of the Treasury, to support the development of innovative new metagraph technologies that interoperate in ways we have yet to see in the space. Constellation’s fast and feeless Hypergraph network is uniquely designed using DAG-based infrastructure and microservices to create an underlying digital transfer layer with a flexible structure and application network overlay (metagraph). This facilitates interoperability and composability across both Web3 and legacy Web2 networks, offering network security, data validation, scalability, and simplified onboarding that businesses and governments need for adoption. “Interoperability” is a buzz word in the Web3 space, it can be explained as all the networks that need to talk to other networks – like a smart factory or city where multiple networks of IoT devices communicate and share data, each with its own unique metagraph network communicating across the underlying Hypergraph. “I’ve been waiting for this year since we started the company. It has always been our vision to have developer friendly and openly available blockchain tools for the masses. This hackathon marks the beginning of many expressions metagraphs have to offer and there seems to be no limit to the vast list of use cases. I am thankful for the team who made this possible as well as the partners who stepped up and helped make this a reality.” – Benjamin Diggles, Chief Strategy Officer Constellation’s metagraphs can work with any data type, interface directly with external data sources, accept existing Scala or Java libraries, give complete control over validation and consensus logic within the network, and scale to the level applications need through multilayered microservice architecture. “With technology vetted by the rigorous standards of the US Department of Defense and with the collaboration of industry giants like Panasonic and IBM, this hackathon is more than a competition; it’s an invitation for developers worldwide to pioneer the next generation of decentralized applications and revolutionize the digital landscape.” -Altif Brown, Global Community Architect Judging Hackathon submissions will be judged Sept 16-23, 2024, and winners will be announced on or around Sept. 30th. Hackathon judges include:

Alan Boeme, former CTO of H&M, Coca-Cola and Procter & Gamble David Beck, Branch Chief, Space Industrial Base & Supply Chain, U.S. Space Force Kevin Jackson, Forward Edge AI Vice President, Digital Assets Dr. Dragan Boscovic, Clinical Professor, Director AZ Blockchain Applied Research Center Ben Jorgensen, Co-founder and CEO, Constellation Network Benjamin Diggles, Co-founder and Chief Strategy Officer, Constellation Network Altif Brown, Co-founder, Constellation Network, and Chair, Stardust Collective Alex Brandes, CTO, Constellation Network Joao Carvalho, Technical Product Manager, Constellation Network Dagnum PI, Head of Marketing, Stardust Collective Andrea Mullaney, Ecosystem Marketing, Stardust Collective, Web3 Advisor Martien Van Loo, Ecosystem Advisor, Stardust Collective, CEO and Co-Founder, Bundle It, Tech Stars Mentor

Users can visit Constellation’s Metagraph Hackathon site to register and find full event details and supporting materials.  Users can download the Stargazer Wallet to hold $DAG. To find out more about Constellation Network: www.constellationnetwork.io X/Twitter: https://x.com/Conste11ation and https://x.com/stardustco11ect Developer Discord: https://discord.gg/9PhXJKeAWC Telegram: https://t.me/constellationcommunity   Contact Head of Marketing Dagnum PI Stardust Collective [email protected]

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