An XRP treasury company went public via SPAC, while BTC bulls got wiped out to the tune of a billion in a single day
I said earlier that institutions were laying the regulatory groundwork for altcoins, while retail traders were still chasing pumps and dumps, serving as exit liquidity. Today brings yet another piece of hard evidence.
Ripple-backed XRP treasury company Evernorth just announced that it had completed a merger with SPAC Armada Acquisition, taking the backdoor route straight into the public markets. It’s just like MicroStrategy putting BTC on its balance sheet—except this time, XRP is the star.
At the same time, on October 8, liquidations across the market totaled $1.09 billion, with $1.05 billion coming from long positions. BTC bulls lost a billion dollars in a single day, and ETH wasn’t spared either. Retail traders are still figuring that buying the dip will lower their average cost, while foreign institutions are already lining up at Nasdaq’s door.
The divide is becoming harder to ignore: XRP has gone from a mocked, underwater bagholder coin to a reserve asset for a publicly listed company, while BTC and ETH bulls get called out by liquidation figures every day. The money hasn’t disappeared—it’s changed pockets, flowing from retail wallets into institutional treasury balance sheets.
Old Ma’s little dog is just sitting in the corner, watching the show. Every cut retail traders take eventually becomes a nice-looking line item on an institutional earnings report. Keep an eye on liquidity in Evernorth’s first few days after its official listing—that’s when smart money’s vote with real cash will show.
🐶 Come take a look with Old Ma’s little dog ✨🚀
I said earlier that institutions were laying the regulatory groundwork for altcoins, while retail traders were still chasing pumps and dumps, serving as exit liquidity. Today brings yet another piece of hard evidence.
Ripple-backed XRP treasury company Evernorth just announced that it had completed a merger with SPAC Armada Acquisition, taking the backdoor route straight into the public markets. It’s just like MicroStrategy putting BTC on its balance sheet—except this time, XRP is the star.
At the same time, on October 8, liquidations across the market totaled $1.09 billion, with $1.05 billion coming from long positions. BTC bulls lost a billion dollars in a single day, and ETH wasn’t spared either. Retail traders are still figuring that buying the dip will lower their average cost, while foreign institutions are already lining up at Nasdaq’s door.
The divide is becoming harder to ignore: XRP has gone from a mocked, underwater bagholder coin to a reserve asset for a publicly listed company, while BTC and ETH bulls get called out by liquidation figures every day. The money hasn’t disappeared—it’s changed pockets, flowing from retail wallets into institutional treasury balance sheets.
Old Ma’s little dog is just sitting in the corner, watching the show. Every cut retail traders take eventually becomes a nice-looking line item on an institutional earnings report. Keep an eye on liquidity in Evernorth’s first few days after its official listing—that’s when smart money’s vote with real cash will show.
🐶 Come take a look with Old Ma’s little dog ✨🚀
