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MicroStrategy Plans $500 Million Convertible Debt Offering to Snatch Up Even More Bitcoin Software firm and newly branded “Bitcoin development company” MicroStrategy is ready to add to its BTC stash, and it plans to utilize a $500 million private offering of convertible senior notes to do it. MicroStrategy Looking To Expanding BTC Cache MicroStrategy’s recent proposal reveals that the Nasdaq-listed business intelligence firm is still interested in buying more Bitcoin. In a Thursday announcement, the company said it intends to offer $500 million in aggregate principal amount of convertible senior notes with a maturity date of June 15, 2032. “The notes will be unsecured, senior obligations of MicroStrategy, and will bear interest payable semi-annually in arrears on June 15 and December 15 of each year, beginning on December 15, 2024. The notes will mature on June 15, 2032, unless earlier repurchased, redeemed or converted in accordance with their terms,” the company’s press release reads. The private offering will be available to individuals believed to qualify as institutional buyers by Rule 144A of the Securities Act of 1933. The notes will be redeemable for cash, shares of MicroStrategy’s class A common stock, or a combination thereof, subject to certain conditions. The terms of conversion will be specified after the pricing of the offering. The announcement notes that the net proceeds of the convertible notes will primarily be used to acquire more Bitcoin and other corporate affairs. MicroStrategy’s Bitcoin Gambit Paying Off MicroStrategy is the single largest corporate holder of Bitcoin, with 214,400 of the alpha cryptocurrency in its treasury — more than $14 billion at today’s prices. It’s also more than 1% of the total supply of Bitcoin that will ever be created. It first acquired BTC back in 2020. The company’s former CEO and now-chairman Michael Saylor argues the crypto strategy is the most suitable way to preserve wealth and fetch nice returns for shareholders. CoinGecko data shows that Bitcoin is today priced at $66,887 per coin, down roughly 5.4% in seven days. It hit a new all-time high above $73,700 in March. Despite Bitcoin falling from the March ATHs, MicroStrategy is still in the green on its gradually increasing investment.

MicroStrategy Plans $500 Million Convertible Debt Offering to Snatch Up Even More Bitcoin 

Software firm and newly branded “Bitcoin development company” MicroStrategy is ready to add to its BTC stash, and it plans to utilize a $500 million private offering of convertible senior notes to do it.

MicroStrategy Looking To Expanding BTC Cache

MicroStrategy’s recent proposal reveals that the Nasdaq-listed business intelligence firm is still interested in buying more Bitcoin. In a Thursday announcement, the company said it intends to offer $500 million in aggregate principal amount of convertible senior notes with a maturity date of June 15, 2032.

“The notes will be unsecured, senior obligations of MicroStrategy, and will bear interest payable semi-annually in arrears on June 15 and December 15 of each year, beginning on December 15, 2024. The notes will mature on June 15, 2032, unless earlier repurchased, redeemed or converted in accordance with their terms,” the company’s press release reads.

The private offering will be available to individuals believed to qualify as institutional buyers by Rule 144A of the Securities Act of 1933. The notes will be redeemable for cash, shares of MicroStrategy’s class A common stock, or a combination thereof, subject to certain conditions. The terms of conversion will be specified after the pricing of the offering.

The announcement notes that the net proceeds of the convertible notes will primarily be used to acquire more Bitcoin and other corporate affairs.

MicroStrategy’s Bitcoin Gambit Paying Off

MicroStrategy is the single largest corporate holder of Bitcoin, with 214,400 of the alpha cryptocurrency in its treasury — more than $14 billion at today’s prices. It’s also more than 1% of the total supply of Bitcoin that will ever be created.

It first acquired BTC back in 2020. The company’s former CEO and now-chairman Michael Saylor argues the crypto strategy is the most suitable way to preserve wealth and fetch nice returns for shareholders.

CoinGecko data shows that Bitcoin is today priced at $66,887 per coin, down roughly 5.4% in seven days. It hit a new all-time high above $73,700 in March. Despite Bitcoin falling from the March ATHs, MicroStrategy is still in the green on its gradually increasing investment.
Cardano Creator Suggests Dogecoin Superfan Elon Musk Owns 20% of DOGE SupplyIn case you were wondering how an iconic meme became the favorite cryptocurrency of centibillionaire Elon Musk, Cardano’s Charles Hoskinson has made an educated guess. During a recent interview, Hoskinson suggested that Musk might own a massive portion of Dogecoin’s total supply. Is Elon Musk A DOGE Whale? Speaking during an appearance with the Thinking Crypto podcast, Cardano founder Charles Hoskinson proposed that Elon Musk, at least at one point the world’s richest man, has been passionately promoting Dogecoin because he is a large DOGE holder. “He’s a legendary entrepreneur, and no one can challenge…He’s a magical guy. He’s really like a sphinx. Hard to understand his motivations and understand why he does what he does,” Hoskinson postulated. Why does he have this bizarre fetish for Dogecoin? Is that he owns 20% of the supply?” However, the Cardano creator didn’t rule out that Musk might simply be fond of Dogecoin because of its furry, four-legged mascot. “Or is it just he just likes the f*****g logo? You just don’t know with a guy like that. That’s the magic of Elon Musk,” Hoskinson opined.   Elon Musk has been professing his love for DOGE for a couple of years now, with his first post about the OG meme coin dating back to 2019, when he called it his “fav cryptocurrency”. The Tesla/SpaceX CEO’s frequent endorsements and cheering on social media since then have spurred Dogecoin’s ascent, resulting in outsized returns for early investors. As you may recall, he dedicated a segment to DOGE during his appearance on SNL in May 2021, which coincided with the once-joke crypto hitting its all-time high price of 73 cents. Later the same year, the self-avowed Dogecoin evangelist confirmed that he owns DOGE.  In March, DOGE rocketed after Musk suggested that Tesla will, in the future, allow customers to purchase its electric cars with the canine-themed cryptocurrency. Reports also indicate that the eccentric CEO has been secretly financing the development of Dogecoin. Sadly, the token has shed some 80.2% of its value since the 2021 highs, as per CoinGecko. Meme coin investors are hoping that DOGE will soon feature as a permanent payment option on his microblogging platform X, which would propel the crypto higher, perhaps even to the fabled $1.00 threshold.

Cardano Creator Suggests Dogecoin Superfan Elon Musk Owns 20% of DOGE Supply

In case you were wondering how an iconic meme became the favorite cryptocurrency of centibillionaire Elon Musk, Cardano’s Charles Hoskinson has made an educated guess.

During a recent interview, Hoskinson suggested that Musk might own a massive portion of Dogecoin’s total supply.

Is Elon Musk A DOGE Whale?

Speaking during an appearance with the Thinking Crypto podcast, Cardano founder Charles Hoskinson proposed that Elon Musk, at least at one point the world’s richest man, has been passionately promoting Dogecoin because he is a large DOGE holder.

“He’s a legendary entrepreneur, and no one can challenge…He’s a magical guy. He’s really like a sphinx. Hard to understand his motivations and understand why he does what he does,” Hoskinson postulated. Why does he have this bizarre fetish for Dogecoin? Is that he owns 20% of the supply?”

However, the Cardano creator didn’t rule out that Musk might simply be fond of Dogecoin because of its furry, four-legged mascot. “Or is it just he just likes the f*****g logo? You just don’t know with a guy like that. That’s the magic of Elon Musk,” Hoskinson opined.  

Elon Musk has been professing his love for DOGE for a couple of years now, with his first post about the OG meme coin dating back to 2019, when he called it his “fav cryptocurrency”. The Tesla/SpaceX CEO’s frequent endorsements and cheering on social media since then have spurred Dogecoin’s ascent, resulting in outsized returns for early investors.

As you may recall, he dedicated a segment to DOGE during his appearance on SNL in May 2021, which coincided with the once-joke crypto hitting its all-time high price of 73 cents. Later the same year, the self-avowed Dogecoin evangelist confirmed that he owns DOGE. 

In March, DOGE rocketed after Musk suggested that Tesla will, in the future, allow customers to purchase its electric cars with the canine-themed cryptocurrency. Reports also indicate that the eccentric CEO has been secretly financing the development of Dogecoin.

Sadly, the token has shed some 80.2% of its value since the 2021 highs, as per CoinGecko. Meme coin investors are hoping that DOGE will soon feature as a permanent payment option on his microblogging platform X, which would propel the crypto higher, perhaps even to the fabled $1.00 threshold.
XRP Price Won’t Skyrocket Until This Happens — Ripple Ex-Director RevealsRipple continues to face significant challenges as it navigates a prolonged legal battle with the U.S. Securities and Exchange Commission (SEC). Notably, XRP, its native cryptocurrency, has been the hardest hit, with investors enduring a four-year consolidation phase. While various analysts have suggested that the cryptocurrency could recover based on technical factors, others believe it might take longer until all the legal issues are resolved. On Tuesday, Sean McBride, a former Ripple director, shared his views on the situation in a tweet, emphasizing the importance of a forthcoming judicial decision for any potential rally in XRP’s value. Responding to a query from the XRP community about the recent dip in XRP’s value despite positive news, McBride said, “Nothing significant is going to happen with the price of XRP until Judge Torres makes her decision. So, anyone expecting anything different is delusional.” The SEC’s lawsuit, initiated in December 2020, accused Ripple of selling unregistered securities in the form of XRP, amounting to approximately $1.3 billion. While a favorable ruling by Judge Analisa Torres in July 2023 determined that programmatic sales of XRP did not constitute securities offerings, it found that institutional sales did violate securities laws. In an unexpected twist, the SEC recently announced its intent to seek a $2 billion fine against Ripple Labs, further complicating the situation. Ripple’s chief lawyer, Stuart Alderothy, criticized the SEC’s actions, stating, “Our response will be filed next month, but as we have seen time and time again, the regulator is promoting false, misinterpreted, and misleading claims.” McBride also highlighted the necessity of clear legislative frameworks in the U.S. to support the broader adoption and integration of cryptocurrencies. “The next big piece of this is clear legislation in the US,” he stated, hoping that recent developments in Congress and former President Trump’s support for crypto could pave the way for favorable regulations. A member of the XRP community also raised concerns about the potential impact of an SEC appeal if Judge Torres rules in Ripple’s favor. McBride responded optimistically, suggesting that an appeal would not necessarily impede Ripple’s operations. “Shouldn’t stop what’s happening in the US from happening, IMO, unless of course the ruling is not in Ripple’s favor,” he remarked. That said, despite the ongoing legal battle and market uncertainties, McBride affirmed that he remains a staunch supporter of Ripple and XRP, advocating for a realistic view of the company’s challenges and potential. “I’m a big fan of Ripple and XRP. That doesn’t mean I’m a sheep, blinded by the reality of what’s happening behind the curtains,” he stated, encouraging the community to maintain a balanced perspective. At press time, XRP was trading at $0.48, reflecting a 1.89% surge over the past 24 hours.

XRP Price Won’t Skyrocket Until This Happens — Ripple Ex-Director Reveals

Ripple continues to face significant challenges as it navigates a prolonged legal battle with the U.S. Securities and Exchange Commission (SEC). Notably, XRP, its native cryptocurrency, has been the hardest hit, with investors enduring a four-year consolidation phase.

While various analysts have suggested that the cryptocurrency could recover based on technical factors, others believe it might take longer until all the legal issues are resolved.

On Tuesday, Sean McBride, a former Ripple director, shared his views on the situation in a tweet, emphasizing the importance of a forthcoming judicial decision for any potential rally in XRP’s value.

Responding to a query from the XRP community about the recent dip in XRP’s value despite positive news, McBride said, “Nothing significant is going to happen with the price of XRP until Judge Torres makes her decision. So, anyone expecting anything different is delusional.”

The SEC’s lawsuit, initiated in December 2020, accused Ripple of selling unregistered securities in the form of XRP, amounting to approximately $1.3 billion. While a favorable ruling by Judge Analisa Torres in July 2023 determined that programmatic sales of XRP did not constitute securities offerings, it found that institutional sales did violate securities laws.

In an unexpected twist, the SEC recently announced its intent to seek a $2 billion fine against Ripple Labs, further complicating the situation. Ripple’s chief lawyer, Stuart Alderothy, criticized the SEC’s actions, stating, “Our response will be filed next month, but as we have seen time and time again, the regulator is promoting false, misinterpreted, and misleading claims.”

McBride also highlighted the necessity of clear legislative frameworks in the U.S. to support the broader adoption and integration of cryptocurrencies. “The next big piece of this is clear legislation in the US,” he stated, hoping that recent developments in Congress and former President Trump’s support for crypto could pave the way for favorable regulations.

A member of the XRP community also raised concerns about the potential impact of an SEC appeal if Judge Torres rules in Ripple’s favor. McBride responded optimistically, suggesting that an appeal would not necessarily impede Ripple’s operations. “Shouldn’t stop what’s happening in the US from happening, IMO, unless of course the ruling is not in Ripple’s favor,” he remarked.

That said, despite the ongoing legal battle and market uncertainties, McBride affirmed that he remains a staunch supporter of Ripple and XRP, advocating for a realistic view of the company’s challenges and potential. “I’m a big fan of Ripple and XRP. That doesn’t mean I’m a sheep, blinded by the reality of what’s happening behind the curtains,” he stated, encouraging the community to maintain a balanced perspective.

At press time, XRP was trading at $0.48, reflecting a 1.89% surge over the past 24 hours.
SEC Fines Terraform Labs $4.47 Billion After Being Found Guilty By JuryThe now-bankrupt cryptocurrency firm Terraform Labs has reportedly reached a massive $4.47 billion deal with the US Securities and Exchange Commission for its TerraUSD/LUNA scam. The controversial company and its once-fugitive founder, Do Kown, were found guilty by an American jury of defrauding crypto investors who lost a whopping $40 billion when its native tokens Terra USD (TUSD) and LUNA collapsed. The once-successful cryptocurrency project was worth tens of billions in 2022, and many digital currency investors were heavily involved in it. However, the unsustainable nature and greed of top executives like Do Kwon resulted in a massive collapse, causing deep economic troubles for its backers. All in all, the crypto lost 99.999% of its value. The Final Judgment The final judgment was proposed by the SEC and needs final approval by a district judge before it can be implemented. The judgment entails $4.05 billion of disgorgement plus a further $420 million fine for the company. A further $80 million is expected to come personally from Do Kwon, which brings the total settlement’s valuation to $4.55 billion, one of the highest in the history of crypto. Do Kwon faces a long jail sentence in addition to the fine. He also agreed not to participate in cryptocurrency transactions again. He remains in Montenegro, awaiting extradition to the United States or South Korea, his home country. According to the SEC: “Entry of this judgment would ensure the maximal return of funds to harmed investors and put Terraform out of business for good,” Will We See Any Relief for UST or LUNA Holders? Unfortunately, no. Unlike other settlements, including FTX’s, where user funds were misused, there is hardly likely to be any relief for Terraforms’ users’ token holders. This is because the company filed for bankruptcy in January this year. However, some payments cannot be ruled out, as Terraform Labs and Do Kwon had some hidden deposits stashed away. With the rise in Bitcoin’s price index, the payments can become significant, but a full dollar compensation is unlikely. Do Kwon and former FTX CEO Sam Bankman-Fried (SBF) remain public enemy numbers 1 and 2 in crypto circles. The crypto community has suffered greatly because of their actions. SBF was sentenced to 25 years behind bars in the United States, and a similar fate is expected for Do Kwon. Both have denied wrongdoing, but the magnitude of their fraud reveals otherwise.

SEC Fines Terraform Labs $4.47 Billion After Being Found Guilty By Jury

The now-bankrupt cryptocurrency firm Terraform Labs has reportedly reached a massive $4.47 billion deal with the US Securities and Exchange Commission for its TerraUSD/LUNA scam. The controversial company and its once-fugitive founder, Do Kown, were found guilty by an American jury of defrauding crypto investors who lost a whopping $40 billion when its native tokens Terra USD (TUSD) and LUNA collapsed.

The once-successful cryptocurrency project was worth tens of billions in 2022, and many digital currency investors were heavily involved in it. However, the unsustainable nature and greed of top executives like Do Kwon resulted in a massive collapse, causing deep economic troubles for its backers. All in all, the crypto lost 99.999% of its value.

The Final Judgment

The final judgment was proposed by the SEC and needs final approval by a district judge before it can be implemented. The judgment entails $4.05 billion of disgorgement plus a further $420 million fine for the company. A further $80 million is expected to come personally from Do Kwon, which brings the total settlement’s valuation to $4.55 billion, one of the highest in the history of crypto.

Do Kwon faces a long jail sentence in addition to the fine. He also agreed not to participate in cryptocurrency transactions again. He remains in Montenegro, awaiting extradition to the United States or South Korea, his home country.

According to the SEC:

“Entry of this judgment would ensure the maximal return of funds to harmed investors and put Terraform out of business for good,”

Will We See Any Relief for UST or LUNA Holders?

Unfortunately, no. Unlike other settlements, including FTX’s, where user funds were misused, there is hardly likely to be any relief for Terraforms’ users’ token holders. This is because the company filed for bankruptcy in January this year.

However, some payments cannot be ruled out, as Terraform Labs and Do Kwon had some hidden deposits stashed away. With the rise in Bitcoin’s price index, the payments can become significant, but a full dollar compensation is unlikely.

Do Kwon and former FTX CEO Sam Bankman-Fried (SBF) remain public enemy numbers 1 and 2 in crypto circles. The crypto community has suffered greatly because of their actions. SBF was sentenced to 25 years behind bars in the United States, and a similar fate is expected for Do Kwon. Both have denied wrongdoing, but the magnitude of their fraud reveals otherwise.
Bitcoin, Ether, SOL, Cardano, XRP, Shiba Inu Braced for $500 Billion Bull Earthquake As US Inflat...Bitcoin rebounded to almost $70,000 on Wednesday following the release of the May Consumer Price Index (CPI) data, which came in cooler than expected. Other leading cryptocurrencies also nudged higher as the market reacted positively to the news. CPI Fuels 4.7% Bitcoin Jump The Consumer Price Index (CPI) increased 3.3% year-over-year in May, the U.S. Bureau of Labor Statistics said Wednesday, coming in slightly below economists’ forecast of 3.4%. The softer inflation data relieved investors and fueled market participants’ expectations of rate cuts. Bitcoin (BTC) welcomed the inflation read, jumping to as high as $69,945, up nearly 5% over the past 24 hours. BTC settled at $69,665 at publication time, according to CoinGecko. Ethereum, the industry’s second-largest crypto, has gained 4.9% on the day. Other cryptocurrencies including Solana (SOL), Ripple’s XRP, and Dogecoin (DOGE), Shiba Inu have rallied 8.7%, 4.8%, and 11%, respectively. U.S. economic data has affected crypto prices in recent months. For example, hotter-than-expected inflation figures pulled Bitcoin from historic highs above $74,700 in March to sub-$58K levels in May. Analysts believe looser monetary conditions will turbocharge the benchmark cryptocurrency’s price to new all-time highs. However, despite the promising CPI print, the U.S. Federal Reserve is expected to keep interest rates unchanged during the forthcoming FOMC meeting. Notably, several key central banks globally have already begun slashing benchmark rates, with the European Central Bank and Bank of Canada lowering rates last week. With U.S spot Bitcoin ETF buying slowing and even going net negative on some days, macroeconomic factors will likely continue to shape the near-term trajectory of cryptocurrencies. On June 11, investors pulled out $200 million from the ETF instruments, the highest net outflows in a single trading day since May 1 — which saw net record-breaking outflows of $564 million.

Bitcoin, Ether, SOL, Cardano, XRP, Shiba Inu Braced for $500 Billion Bull Earthquake As US Inflat...

Bitcoin rebounded to almost $70,000 on Wednesday following the release of the May Consumer Price Index (CPI) data, which came in cooler than expected. Other leading cryptocurrencies also nudged higher as the market reacted positively to the news.

CPI Fuels 4.7% Bitcoin Jump

The Consumer Price Index (CPI) increased 3.3% year-over-year in May, the U.S. Bureau of Labor Statistics said Wednesday, coming in slightly below economists’ forecast of 3.4%. The softer inflation data relieved investors and fueled market participants’ expectations of rate cuts.

Bitcoin (BTC) welcomed the inflation read, jumping to as high as $69,945, up nearly 5% over the past 24 hours. BTC settled at $69,665 at publication time, according to CoinGecko. Ethereum, the industry’s second-largest crypto, has gained 4.9% on the day. Other cryptocurrencies including Solana (SOL), Ripple’s XRP, and Dogecoin (DOGE), Shiba Inu have rallied 8.7%, 4.8%, and 11%, respectively.

U.S. economic data has affected crypto prices in recent months. For example, hotter-than-expected inflation figures pulled Bitcoin from historic highs above $74,700 in March to sub-$58K levels in May.

Analysts believe looser monetary conditions will turbocharge the benchmark cryptocurrency’s price to new all-time highs. However, despite the promising CPI print, the U.S. Federal Reserve is expected to keep interest rates unchanged during the forthcoming FOMC meeting.

Notably, several key central banks globally have already begun slashing benchmark rates, with the European Central Bank and Bank of Canada lowering rates last week.

With U.S spot Bitcoin ETF buying slowing and even going net negative on some days, macroeconomic factors will likely continue to shape the near-term trajectory of cryptocurrencies. On June 11, investors pulled out $200 million from the ETF instruments, the highest net outflows in a single trading day since May 1 — which saw net record-breaking outflows of $564 million.
Major Indicator Turns Super Bullish on Dogecoin for First Time Since 2020A major technical indicator has turned bullish for Dogecoin (DOGE) for the first time since December 2020, signaling a potential resurgence for the biggest meme coin. This shift comes amidst significant resistance and a narrowing trading range for Dogecoin. Over the past few weeks, Dogecoin has struggled to break through the $0.18 resistance level, with selling pressure consistently emerging at this threshold. This resistance has constrained the price movement, particularly following a ‘fake out’ in late March. Nevertheless, the recent bullish signal offers renewed optimism for Dogecoin investors. In a Sunday tweet, analyst “@Kev_Capital_TA” highlighted the so-called 12-day Gaussian Channel, noting that it has turned green on Dogecoin for the first time in more than three years. According to the analyst, this indicator, historically reliable in predicting trend changes, suggests that Dogecoin might be on the cusp of a strong bullish phase in the coming months. “Dogecoin for the first time since December of 2020, indicating that a potential strong bullish trend is in the cards in the coming months. This indicator has never failed in indicating these trend changes.” He wrote. Supporting this bullish outlook is an increase in large transactions involving Dogecoin. Popular crypto analyst Ali Martinez recently reported a significant rise in whale activity, with over 150 transactions exceeding $1 million recorded within 24 hours on June 7. This surge in high-value transactions indicates that major investors are accumulating Dogecoin, potentially in anticipation of a price surge. Interestingly, the pundit had earlier pointed out that since May 30, Dogecoin whales had purchased an additional 200 million DOGE, reflecting growing confidence among large holders. In late May, Martinez also noted that market sentiment was as bearish as it had been in early February, just before Dogecoin experienced a dramatic 200% increase. This historical context provides hope that a similar price rally might be on the horizon. Elsewhere, an analyst under the pseudonym “Trader Tardigrade” also weighed in, highlighting Dogecoin’s long-term price cycles. According to him, Dogecoin typically completes a cycle every 36 to 40 months, and September 2024 marks the 40th month since the last all-time high. According to the expert, if this pattern holds, Dogecoin could see a substantial bull run in the next few months, with the potential to surge significantly. Meanwhile, other analysts are providing short-term bullish forecasts. Analyst “Dlaminisya” highlighted the $0.145 as a major support zone, stating he expects Dogecoin to rise to the $0.33-$0.35 range soon. Similarly, in a post on TradingView, analyst “Vibranium Capital” revealed he anticipates a breakout, watching for a daily close above $0.18308, which could lead to further gains up to $0.57. According to CoinMarketCap data, DOGE traded at $0.15 at press time, reflecting a 9.96% surge over the past 24 hours.

Major Indicator Turns Super Bullish on Dogecoin for First Time Since 2020

A major technical indicator has turned bullish for Dogecoin (DOGE) for the first time since December 2020, signaling a potential resurgence for the biggest meme coin. This shift comes amidst significant resistance and a narrowing trading range for Dogecoin.

Over the past few weeks, Dogecoin has struggled to break through the $0.18 resistance level, with selling pressure consistently emerging at this threshold. This resistance has constrained the price movement, particularly following a ‘fake out’ in late March. Nevertheless, the recent bullish signal offers renewed optimism for Dogecoin investors.

In a Sunday tweet, analyst “@Kev_Capital_TA” highlighted the so-called 12-day Gaussian Channel, noting that it has turned green on Dogecoin for the first time in more than three years. According to the analyst, this indicator, historically reliable in predicting trend changes, suggests that Dogecoin might be on the cusp of a strong bullish phase in the coming months.

“Dogecoin for the first time since December of 2020, indicating that a potential strong bullish trend is in the cards in the coming months. This indicator has never failed in indicating these trend changes.” He wrote.

Supporting this bullish outlook is an increase in large transactions involving Dogecoin. Popular crypto analyst Ali Martinez recently reported a significant rise in whale activity, with over 150 transactions exceeding $1 million recorded within 24 hours on June 7. This surge in high-value transactions indicates that major investors are accumulating Dogecoin, potentially in anticipation of a price surge. Interestingly, the pundit had earlier pointed out that since May 30, Dogecoin whales had purchased an additional 200 million DOGE, reflecting growing confidence among large holders.

In late May, Martinez also noted that market sentiment was as bearish as it had been in early February, just before Dogecoin experienced a dramatic 200% increase. This historical context provides hope that a similar price rally might be on the horizon.

Elsewhere, an analyst under the pseudonym “Trader Tardigrade” also weighed in, highlighting Dogecoin’s long-term price cycles. According to him, Dogecoin typically completes a cycle every 36 to 40 months, and September 2024 marks the 40th month since the last all-time high. According to the expert, if this pattern holds, Dogecoin could see a substantial bull run in the next few months, with the potential to surge significantly.

Meanwhile, other analysts are providing short-term bullish forecasts. Analyst “Dlaminisya” highlighted the $0.145 as a major support zone, stating he expects Dogecoin to rise to the $0.33-$0.35 range soon.

Similarly, in a post on TradingView, analyst “Vibranium Capital” revealed he anticipates a breakout, watching for a daily close above $0.18308, which could lead to further gains up to $0.57.

According to CoinMarketCap data, DOGE traded at $0.15 at press time, reflecting a 9.96% surge over the past 24 hours.
Massive 336,000 ETH Withdrawal From Coinbase Sparks Optimism for Ether Price MooningAs the cryptocurrency sector continues to face turbulence with fluctuating prices, Coinbase, one of the world’s leading cryptocurrency exchanges, experienced an unprecedented withdrawal of over 336,000 Ethereum (ETH), valued at an astounding $1.17 billion. This significant development was highlighted by Burak Kesmeci, an analyst at popular crypto analytics firm CryptoQuant, on Wednesday, June 12, 2024, suggesting potential price surges in the near future and sparking a wave of optimism among investors. In a detailed post, the pundit noted that the latest withdrawal marked the fifth instance where more than 150,000 Ethereum tokens have been withdrawn in a single day. According to the pundit, such sizable transactions, ranging between $400 million and $1.1 billion each, suggest the involvement of major players in the market. “It’s highly likely that these significant Ethereum withdrawals are driven by whales or as-yet-unknown institutions,” wrote Kesmeci  While the exact motivations behind this massive withdrawal remain in mystery, drawing parallels to past activities preceding the trading of Bitcoin Spot ETFs, the analyst speculated that this move could be a strategic maneuver by institutional investors or whales anticipating a bullish trend in Ethereum prices. “We observed similar activities on Coinbase before the trading of Bitcoin Spot ETFs began…Whether this assumption is correct will become clear in the coming days. However, such movements that reduce the circulating supply (high demand) are expected to have a positive impact on the price in the medium to long term,” he added. Recent developments in the crypto landscape further fuel this surge in optimism. Analysts from global investments firm VanEck recently revised their Ethereum price prediction for 2030 to an ambitious $22,000. “We’ve raised our 2030 ETH price target to $22K, influenced by ether ETF news, scaling progress, and our read of onchain data. Additionally, we’ve analyzed how ETH and BTC perform in both traditional and crypto-only portfolios for optimal returns.” The firm stated last week. Furthermore, Ethereum’s robust fundamentals continue to bolster confidence in its long-term trajectory. With a thriving digital economy attracting approximately 20 million monthly active users and facilitating billions in stablecoin transfers, Ethereum stands out as a dynamic economic platform poised for sustained growth. Additionally, the recent burning of over 541,000 ETH tokens in the past six months, amounting to $1.58 billion, as per data from Dune, underscores the network’s inherent value proposition.  At press time, ETH was trading at $3,629, reflecting a 3.11% surge over the past 24 hours. The surge, majorly influenced by the FOMC press conference later in the day, where investors expect softer-than-expected inflation data, bolstered market optimism, with Bitcoin rising by 4.05% in the same period.

Massive 336,000 ETH Withdrawal From Coinbase Sparks Optimism for Ether Price Mooning

As the cryptocurrency sector continues to face turbulence with fluctuating prices, Coinbase, one of the world’s leading cryptocurrency exchanges, experienced an unprecedented withdrawal of over 336,000 Ethereum (ETH), valued at an astounding $1.17 billion.

This significant development was highlighted by Burak Kesmeci, an analyst at popular crypto analytics firm CryptoQuant, on Wednesday, June 12, 2024, suggesting potential price surges in the near future and sparking a wave of optimism among investors.

In a detailed post, the pundit noted that the latest withdrawal marked the fifth instance where more than 150,000 Ethereum tokens have been withdrawn in a single day. According to the pundit, such sizable transactions, ranging between $400 million and $1.1 billion each, suggest the involvement of major players in the market.

“It’s highly likely that these significant Ethereum withdrawals are driven by whales or as-yet-unknown institutions,” wrote Kesmeci 

While the exact motivations behind this massive withdrawal remain in mystery, drawing parallels to past activities preceding the trading of Bitcoin Spot ETFs, the analyst speculated that this move could be a strategic maneuver by institutional investors or whales anticipating a bullish trend in Ethereum prices.

“We observed similar activities on Coinbase before the trading of Bitcoin Spot ETFs began…Whether this assumption is correct will become clear in the coming days. However, such movements that reduce the circulating supply (high demand) are expected to have a positive impact on the price in the medium to long term,” he added.

Recent developments in the crypto landscape further fuel this surge in optimism. Analysts from global investments firm VanEck recently revised their Ethereum price prediction for 2030 to an ambitious $22,000.

“We’ve raised our 2030 ETH price target to $22K, influenced by ether ETF news, scaling progress, and our read of onchain data. Additionally, we’ve analyzed how ETH and BTC perform in both traditional and crypto-only portfolios for optimal returns.” The firm stated last week.

Furthermore, Ethereum’s robust fundamentals continue to bolster confidence in its long-term trajectory. With a thriving digital economy attracting approximately 20 million monthly active users and facilitating billions in stablecoin transfers, Ethereum stands out as a dynamic economic platform poised for sustained growth.

Additionally, the recent burning of over 541,000 ETH tokens in the past six months, amounting to $1.58 billion, as per data from Dune, underscores the network’s inherent value proposition. 

At press time, ETH was trading at $3,629, reflecting a 3.11% surge over the past 24 hours. The surge, majorly influenced by the FOMC press conference later in the day, where investors expect softer-than-expected inflation data, bolstered market optimism, with Bitcoin rising by 4.05% in the same period.
Dormant Bitcoin Awakens: Someone Just Transferred $537 Million Worth of BTC to Binance After 6-Ye...Blockchain intelligence firm Arkham raised eyebrows yesterday when it noted that nearly $540 million in Bitcoin (BTC) sitting still since 2018 was deposited to the world’s largest crypto exchange, Binance. The price of Bitcoin has increased in value monumentally since then, meaning whoever owns the mystery stash that moved yesterday has accrued some serious gains.  Investors usually hold their breath in the face of the emergence of long-dormant Bitcoin whales as such transfers are often seen as bearish if they dump their precious coins on the open market. Ancient Bitcoin Whale Resurrects In the Bitcoin world, many holders have held onto their coins through various market cycles, underscoring the value of long-term HODLing. Nevertheless, the crypto community watches old whale wallets with bated breath as selling the coins could upset the market dynamics. On Tuesday, Arkham Intelligence observed that 8,000 BTC was shifted to Binance after sitting still for five and a half years at a Coinbase cold storage wallet. The hefty BTC payout was first sent to the Bitcoin address identified as “1ABww1…mCSKq”, before being moved to a Binance deposit address exactly one block and 11 minutes later. Arkham notes that the unidentified whale did not conduct any test transactions before the two transfers. The Coinbase cold-storage wallet in question originally purchased the 8,000 BTC stash on Dec. 5, 2018, for just over $30 million, when Bitcoin was changing hands at roughly $3,810 per coin amid a crash. Since then, the value of the BTC holdings in this wallet has shot up by over 14 times to $537.8 million. This means that if sold, it would net the whale over half a billion dollars in profit. Potential Impact Of Sudden Movement Historically, when large amounts of crypto are transferred to exchanges, it often indicates that whales are planning to sell, which often exerts downward pressure on prices. This isn’t the first time this year that massive long-dormant BTC transactions have been spotted. ZyCrypto reported that 1,000 BTC was shifted when the BTC price was at $69K in March, a Satoshi-era wallet moved 687 BTC in May, and over $60 million worth of Bitcoin was moved at $61,107 per coin last month. Such activity comes amid renewed optimism for Bitcoin adoption following the historic launch of spot Bitcoin ETFs in the United States in January and potential sovereign adoption as crypto-friendly leaders in major economies make bullish moves. At the time of writing, the Bitcoin price is currently $69,427, having bounced back following its trip below $67,000 on Tuesday. The maiden cryptocurrency, however, is still down roughly 5.8% from its March all-time high of $73,737.

Dormant Bitcoin Awakens: Someone Just Transferred $537 Million Worth of BTC to Binance After 6-Ye...

Blockchain intelligence firm Arkham raised eyebrows yesterday when it noted that nearly $540 million in Bitcoin (BTC) sitting still since 2018 was deposited to the world’s largest crypto exchange, Binance. The price of Bitcoin has increased in value monumentally since then, meaning whoever owns the mystery stash that moved yesterday has accrued some serious gains. 

Investors usually hold their breath in the face of the emergence of long-dormant Bitcoin whales as such transfers are often seen as bearish if they dump their precious coins on the open market.

Ancient Bitcoin Whale Resurrects

In the Bitcoin world, many holders have held onto their coins through various market cycles, underscoring the value of long-term HODLing. Nevertheless, the crypto community watches old whale wallets with bated breath as selling the coins could upset the market dynamics.

On Tuesday, Arkham Intelligence observed that 8,000 BTC was shifted to Binance after sitting still for five and a half years at a Coinbase cold storage wallet. The hefty BTC payout was first sent to the Bitcoin address identified as “1ABww1…mCSKq”, before being moved to a Binance deposit address exactly one block and 11 minutes later. Arkham notes that the unidentified whale did not conduct any test transactions before the two transfers.

The Coinbase cold-storage wallet in question originally purchased the 8,000 BTC stash on Dec. 5, 2018, for just over $30 million, when Bitcoin was changing hands at roughly $3,810 per coin amid a crash. Since then, the value of the BTC holdings in this wallet has shot up by over 14 times to $537.8 million. This means that if sold, it would net the whale over half a billion dollars in profit.

Potential Impact Of Sudden Movement

Historically, when large amounts of crypto are transferred to exchanges, it often indicates that whales are planning to sell, which often exerts downward pressure on prices.

This isn’t the first time this year that massive long-dormant BTC transactions have been spotted. ZyCrypto reported that 1,000 BTC was shifted when the BTC price was at $69K in March, a Satoshi-era wallet moved 687 BTC in May, and over $60 million worth of Bitcoin was moved at $61,107 per coin last month.

Such activity comes amid renewed optimism for Bitcoin adoption following the historic launch of spot Bitcoin ETFs in the United States in January and potential sovereign adoption as crypto-friendly leaders in major economies make bullish moves.

At the time of writing, the Bitcoin price is currently $69,427, having bounced back following its trip below $67,000 on Tuesday. The maiden cryptocurrency, however, is still down roughly 5.8% from its March all-time high of $73,737.
Bitcoin and Cardano Reign Supreme in Heightened Social InterestAs bullish momentum continues to rock the crypto market, Bitcoin (BTC) and Cardano (ADA) are calling the shots in terms of social interest, according to Santiment. The renowned crypto analytic firm added, “BTC: Bulls and bears battling at $70K level, and Bitcoin’s market cap ($1.377T) being compared to Apple’s ($2.998T). ADA: Smart contract NFT’s, comparison to Ethereum, growing Cardano network decentralization.” Source: Santiment Social interest in Bitcoin and Cardano is going through the roof, signaling a positive attitude toward both cryptocurrencies. For instance, smart contract usage in the ADA network is skyrocketing as the demand for non-fungible tokens (NFTs) grows. Cardano’s social media engagement is rising, and the Chang hard fork is a stone’s throw away, slated to go live this month. This upgrade enhances ADA’s proof-of-stake (PoS) consensus mechanism. According to CoinGecko data, Cardano was up 1.7% in the past 24 hours at the time of writing. Bitcoin’s Selling Pressure Eases As Bitcoin enjoys heightened social media engagement, the leading cryptocurrency is witnessing minimal risk of a sell-off. This development was highlighted by leading market analyst Ali Martinez, who acknowledged that this trend was being seen since short-term holders were experiencing a profit margin of 3.35%. Source: CryptoQuant It seems that Bitcoin might be undergoing the calm before the storm since the apex cryptocurrency has been consolidating inside a re-accumulation range for 3 months, as acknowledged by top crypto analyst Rekt Capital. Source: Rekt Capital Meanwhile, Bitcoin is experiencing a notable holding trend, given that it is worth a whopping $1 billion and recently exited Coinbase. Cryptocurrencies usually leave crypto exchanges for holding and future purposes other than speculation, and this is bullish because of diminished selling pressure.

Bitcoin and Cardano Reign Supreme in Heightened Social Interest

As bullish momentum continues to rock the crypto market, Bitcoin (BTC) and Cardano (ADA) are calling the shots in terms of social interest, according to Santiment.

The renowned crypto analytic firm added, “BTC: Bulls and bears battling at $70K level, and Bitcoin’s market cap ($1.377T) being compared to Apple’s ($2.998T). ADA: Smart contract NFT’s, comparison to Ethereum, growing Cardano network decentralization.”

Source: Santiment

Social interest in Bitcoin and Cardano is going through the roof, signaling a positive attitude toward both cryptocurrencies. For instance, smart contract usage in the ADA network is skyrocketing as the demand for non-fungible tokens (NFTs) grows.

Cardano’s social media engagement is rising, and the Chang hard fork is a stone’s throw away, slated to go live this month. This upgrade enhances ADA’s proof-of-stake (PoS) consensus mechanism.

According to CoinGecko data, Cardano was up 1.7% in the past 24 hours at the time of writing.

Bitcoin’s Selling Pressure Eases

As Bitcoin enjoys heightened social media engagement, the leading cryptocurrency is witnessing minimal risk of a sell-off.

This development was highlighted by leading market analyst Ali Martinez, who acknowledged that this trend was being seen since short-term holders were experiencing a profit margin of 3.35%.

Source: CryptoQuant

It seems that Bitcoin might be undergoing the calm before the storm since the apex cryptocurrency has been consolidating inside a re-accumulation range for 3 months, as acknowledged by top crypto analyst Rekt Capital.

Source: Rekt Capital

Meanwhile, Bitcoin is experiencing a notable holding trend, given that it is worth a whopping $1 billion and recently exited Coinbase. Cryptocurrencies usually leave crypto exchanges for holding and future purposes other than speculation, and this is bullish because of diminished selling pressure.
Donald Trump Calls for All Remaining Bitcoin to Be Mined in the US in His Latest Pro-Crypto PushRepublican presidential candidate and convicted felon Donald Trump reaffirmed his support for the fledgling Bitcoin mining sector after hosting Bitcoin mining industry heads. Trump declared that he wants to mine all the remaining Bitcoin in the U.S. as he believes it will help the nation become “energy-dominant.” “Made In The USA” Bitcoin In a key meeting at Mar-a-Lago on Tuesday night with Nasdaq-listed Bitcoin mining firm CleanSpark Inc. executives and Riot Platforms., ex-president Donald Trump promised to advocate for Bitcoin miners in the White House. Trump told the Palm Beach resort meeting attendees that miners contribute to energy grid stability. In a late-night post after the meeting on the Trump-owned alt-tech social media platform, Truth Social, the ex-POTUS said he wanted “all the remaining Bitcoin to be MADE IN THE USA!!!” claiming it would help the country be “energy dominant” and that it “may be our last line of defense against a CBDC.” Very good meeting with President Trump on #Bitcoin and U.S. energy dominance!!! pic.twitter.com/gvjYO6KNAt — Jason Les (@JasonLes_) June 11, 2024 Trump likely implies he’d like to see U.S. companies mining more Bitcoin using local resources. As it stands, approximately 90% of BTC’s 21 million supply has been mined. The remaining 10% is slated to be mined through the year 2140. Trump has previously pledged to “never allow” a CBDC if he’s re-elected, but he didn’t clarify why fostering Bitcoin mining could help block the introduction of a central bank digital currency. Nonetheless, Federal Reserve Chair Jerome Powell said in a March hearing before the Senate Committee on Banking, Housing, and Urban Affairs that the U.S. was “nowhere near recommending or let alone adopting a central bank digital currency in any form.” Trump Commits To Bitcoin Trump infamously called Bitcoin “a scam” while he was president, but has recently softened his stance in a bid to woo crypto voters ahead of the 2024 presidential election scheduled for Nov. 5. He recently emphasized that the United States must not settle for “second place” when it comes to cryptocurrencies and even presented himself as the “crypto president”, as ZyCryto reported. Trump, who was the first U.S. presidential candidate to accept crypto donations,  was recently found guilty on 34 felony charges. But his odds of retaking the White House are still high.

Donald Trump Calls for All Remaining Bitcoin to Be Mined in the US in His Latest Pro-Crypto Push

Republican presidential candidate and convicted felon Donald Trump reaffirmed his support for the fledgling Bitcoin mining sector after hosting Bitcoin mining industry heads. Trump declared that he wants to mine all the remaining Bitcoin in the U.S. as he believes it will help the nation become “energy-dominant.”

“Made In The USA” Bitcoin

In a key meeting at Mar-a-Lago on Tuesday night with Nasdaq-listed Bitcoin mining firm CleanSpark Inc. executives and Riot Platforms., ex-president Donald Trump promised to advocate for Bitcoin miners in the White House. Trump told the Palm Beach resort meeting attendees that miners contribute to energy grid stability.

In a late-night post after the meeting on the Trump-owned alt-tech social media platform, Truth Social, the ex-POTUS said he wanted “all the remaining Bitcoin to be MADE IN THE USA!!!” claiming it would help the country be “energy dominant” and that it “may be our last line of defense against a CBDC.”

Very good meeting with President Trump on #Bitcoin and U.S. energy dominance!!! pic.twitter.com/gvjYO6KNAt

— Jason Les (@JasonLes_) June 11, 2024

Trump likely implies he’d like to see U.S. companies mining more Bitcoin using local resources. As it stands, approximately 90% of BTC’s 21 million supply has been mined. The remaining 10% is slated to be mined through the year 2140.

Trump has previously pledged to “never allow” a CBDC if he’s re-elected, but he didn’t clarify why fostering Bitcoin mining could help block the introduction of a central bank digital currency.

Nonetheless, Federal Reserve Chair Jerome Powell said in a March hearing before the Senate Committee on Banking, Housing, and Urban Affairs that the U.S. was “nowhere near recommending or let alone adopting a central bank digital currency in any form.”

Trump Commits To Bitcoin

Trump infamously called Bitcoin “a scam” while he was president, but has recently softened his stance in a bid to woo crypto voters ahead of the 2024 presidential election scheduled for Nov. 5.

He recently emphasized that the United States must not settle for “second place” when it comes to cryptocurrencies and even presented himself as the “crypto president”, as ZyCryto reported.

Trump, who was the first U.S. presidential candidate to accept crypto donations,  was recently found guilty on 34 felony charges. But his odds of retaking the White House are still high.
Despite SEC Shadows, XRP on Path to New Lifetime Highs As Ripple Boosts XRPL Innovation in AsiaRipple Labs has launched a new fund in Japan and South Korea aimed at fostering XRP Ledger (XRPL) innovation and adoption in the two markets. The XRPL Japan and Korea fund is part of a broader commitment from Ripple, allocating 1 billion XRP to support various projects that catalyze the growth and development of the XRPL ecosystem as it continues to fortify its presence in Asia-Pacific. With XRP now valued at $0.4806 per coin at today’s prices, enthusiasts speculate whether the token can break past its next psychological resistance region around $0.55 and potentially hit a new lifetime peak above the $3 line. Ripple Introduces Massive APAC Fund Ripple stole the spotlight on Tuesday following the launch of its Japan and Korea fund, demonstrating Ripple’s commitment to boosting innovation and utility of the XRP Ledger in the APAC region. The funds will be used to forge corporate partnerships, offer developer grants, make startup investments, and promote community growth. We're proud to launch the XRPL Japan & Korea Fund to boost innovation & utility on the #XRPL in APAC! Includes: Corporate Partnerships Dev Grants Startup Investments Community GrowthLearn how the fund fosters innovation and growth: https://t.co/zFSekIekrC — RippleX (@RippleXDev) June 10, 2024 “The launch of this fund is a testament to Ripple’s strong belief in the potential of Japan and Korea as pivotal regional hubs for blockchain innovation,” posited Ripple’s vice president of strategic initiatives, Emi Yoshikawa, in a June 11 official statement. Notably, this APAC funds initiative is part of Ripple’s ongoing commitment of 1 billion XRP to provide financial, technical, and business support to developers within the XRP Ledger. It’s worth noting that Ripple has long been a notable force in APAC. Ripple chief Bradley Garlinghouse has continually hailed Japan for its crypto-friendly laws and even hinted at moving the firm’s global headquarters from the U.S. to Japan. Ripple’s Asian Expansion Skyrockets Despite SEC Shadow Ripple previously solidified its presence in Japan via a tie-up with Tokyo-based HashKey DX to bring XRPL-powered enterprise solutions to the Japanese market. It also established SBI Ripple Asia in 2016 — a joint venture with Japanese financial giant SBI Holdings, to push the adoption of Ripple payments solutions in the region. SBI VC Trade, the crypto trading unit of SBI Holdings, started running its validator on the XRP Ledger in May, a move that Ripple’s Yoshikawa described as a “huge step” for the XRP Ledger.  Ripple’s growth in Japan comes despite its protracted lawsuit in the United States over the sale of the XRP cryptocurrency via an unregistered securities offering. As the SEC vs Ripple suit continues to unravel, the new fund in Japan and Korea — two powerful economies in East Asia — will help Ripple further strengthen its presence in the APAC region, which could soon reflect in the price of XRP.

Despite SEC Shadows, XRP on Path to New Lifetime Highs As Ripple Boosts XRPL Innovation in Asia

Ripple Labs has launched a new fund in Japan and South Korea aimed at fostering XRP Ledger (XRPL) innovation and adoption in the two markets. The XRPL Japan and Korea fund is part of a broader commitment from Ripple, allocating 1 billion XRP to support various projects that catalyze the growth and development of the XRPL ecosystem as it continues to fortify its presence in Asia-Pacific.

With XRP now valued at $0.4806 per coin at today’s prices, enthusiasts speculate whether the token can break past its next psychological resistance region around $0.55 and potentially hit a new lifetime peak above the $3 line.

Ripple Introduces Massive APAC Fund

Ripple stole the spotlight on Tuesday following the launch of its Japan and Korea fund, demonstrating Ripple’s commitment to boosting innovation and utility of the XRP Ledger in the APAC region.

The funds will be used to forge corporate partnerships, offer developer grants, make startup investments, and promote community growth.

We're proud to launch the XRPL Japan & Korea Fund to boost innovation & utility on the #XRPL in APAC! Includes: Corporate Partnerships Dev Grants Startup Investments Community GrowthLearn how the fund fosters innovation and growth: https://t.co/zFSekIekrC

— RippleX (@RippleXDev) June 10, 2024

“The launch of this fund is a testament to Ripple’s strong belief in the potential of Japan and Korea as pivotal regional hubs for blockchain innovation,” posited Ripple’s vice president of strategic initiatives, Emi Yoshikawa, in a June 11 official statement.

Notably, this APAC funds initiative is part of Ripple’s ongoing commitment of 1 billion XRP to provide financial, technical, and business support to developers within the XRP Ledger.

It’s worth noting that Ripple has long been a notable force in APAC. Ripple chief Bradley Garlinghouse has continually hailed Japan for its crypto-friendly laws and even hinted at moving the firm’s global headquarters from the U.S. to Japan.

Ripple’s Asian Expansion Skyrockets Despite SEC Shadow

Ripple previously solidified its presence in Japan via a tie-up with Tokyo-based HashKey DX to bring XRPL-powered enterprise solutions to the Japanese market. It also established SBI Ripple Asia in 2016 — a joint venture with Japanese financial giant SBI Holdings, to push the adoption of Ripple payments solutions in the region.

SBI VC Trade, the crypto trading unit of SBI Holdings, started running its validator on the XRP Ledger in May, a move that Ripple’s Yoshikawa described as a “huge step” for the XRP Ledger. 

Ripple’s growth in Japan comes despite its protracted lawsuit in the United States over the sale of the XRP cryptocurrency via an unregistered securities offering. As the SEC vs Ripple suit continues to unravel, the new fund in Japan and Korea — two powerful economies in East Asia — will help Ripple further strengthen its presence in the APAC region, which could soon reflect in the price of XRP.
$1 Billion in Bitcoin Just Moved From Coinbase — Are Whales Massively Buying the Dip?A major Bitcoin whale has just moved $1.06 billion worth of Bitcoin from its Coinbase account. The major transaction occurred as the price of the premier digital currency dropped below $67k earlier today, a -4.31% change in the last 24 hours. According to data from on-chain reporters, the whale sent the BTC in twin batches from its Coinbase wallet. The first transaction was roughly 7,999.999 BTC (rounded off to 8,000 BTC) worth $536 million, and a similar 8,000 BTC transaction followed later. Are Bitcoin Whales Going on a Buying Spree? As these transactions show, big Bitcoin whales are on a buying spree at the moment. However, many are waiting before making further aggressive buys in the cryptocurrency market. Yesterday was a slightly bearish day for Bitcoin Exchange-Traded Funds (ETFs), and today’s data is still not in. We cannot expect big purchases by the ETFs because of the price drop, but perhaps a few of them will defy expectations to do so. All in all, ETFs aren’t apparently buying this dip, and crypto whales are stealing the show right now. They are often ahead of the curve when snapping up BTC at relatively lower prices. Miners Selling Bitcoin Sparks Price Drop Bitcoin dropped below $67k earlier today to post the first significant loss in the last few weeks. The largest cryptocurrency by market capitalization was looking steady at the $70k figure, but the short-term selling put pressure on the market, and that resulted in an eventful day for the bears. Here is the price action from the last 24 hours: Image Source: TradingView Marathon Digital, the largest Bitcoin mining company in the world, undertook the most important selling. It sold 1,000 BTC worth around $67 million, which caused some short-term panic in the market. However, once it was understood that it was Marathon Digital, fears subsided because mining companies needed to sell their BTC from time to time to pay for electricity and maintenance, and this seems like the case. The Future Bitcoin is at a crossroads once more, with big buyers trying to take advantage of the falling price index. However, bigger buys can be expected as the index nears the long-term $60k price support.

$1 Billion in Bitcoin Just Moved From Coinbase — Are Whales Massively Buying the Dip?

A major Bitcoin whale has just moved $1.06 billion worth of Bitcoin from its Coinbase account. The major transaction occurred as the price of the premier digital currency dropped below $67k earlier today, a -4.31% change in the last 24 hours.

According to data from on-chain reporters, the whale sent the BTC in twin batches from its Coinbase wallet. The first transaction was roughly 7,999.999 BTC (rounded off to 8,000 BTC) worth $536 million, and a similar 8,000 BTC transaction followed later.

Are Bitcoin Whales Going on a Buying Spree?

As these transactions show, big Bitcoin whales are on a buying spree at the moment. However, many are waiting before making further aggressive buys in the cryptocurrency market.

Yesterday was a slightly bearish day for Bitcoin Exchange-Traded Funds (ETFs), and today’s data is still not in. We cannot expect big purchases by the ETFs because of the price drop, but perhaps a few of them will defy expectations to do so. All in all, ETFs aren’t apparently buying this dip, and crypto whales are stealing the show right now. They are often ahead of the curve when snapping up BTC at relatively lower prices.

Miners Selling Bitcoin Sparks Price Drop

Bitcoin dropped below $67k earlier today to post the first significant loss in the last few weeks. The largest cryptocurrency by market capitalization was looking steady at the $70k figure, but the short-term selling put pressure on the market, and that resulted in an eventful day for the bears. Here is the price action from the last 24 hours:

Image Source: TradingView

Marathon Digital, the largest Bitcoin mining company in the world, undertook the most important selling. It sold 1,000 BTC worth around $67 million, which caused some short-term panic in the market. However, once it was understood that it was Marathon Digital, fears subsided because mining companies needed to sell their BTC from time to time to pay for electricity and maintenance, and this seems like the case.

The Future

Bitcoin is at a crossroads once more, with big buyers trying to take advantage of the falling price index. However, bigger buys can be expected as the index nears the long-term $60k price support.
Ripple’s Bold Move in Japan and Korea to Trigger XRP’s Next Mega Price Explosion to $3San Francisco-headquartered blockchain firm Ripple Labs has launched a new fund in Japan and South Korea aimed at fostering XRP Ledger (XRPL) innovation and adoption in the two markets. The XRPL Japan and Korea fund is part of a broader commitment from Ripple, allocating 1 billion XRP to support various projects that catalyze the growth and development of the XRPL ecosystem as it continues to fortify its presence in Asia-Pacific. With XRP now valued at $0.4806 per coin at today’s prices, enthusiasts speculate whether the token can break past its next psychological resistance region around $0.55 and potentially hit a new lifetime peak above the $3 line. Ripple Introduces Massive APAC Fund Ripple stole the spotlight on Tuesday following the launch of its Japan and Korea fund, demonstrating Ripple’s commitment to boosting innovation and utility of the XRP Ledger in the APAC region. The funds will be used to forge corporate partnerships, offer developer grants, make startup investments, and promote community growth. We're proud to launch the XRPL Japan & Korea Fund to boost innovation & utility on the #XRPL in APAC! Includes: Corporate Partnerships Dev Grants Startup Investments Community GrowthLearn how the fund fosters innovation and growth: https://t.co/zFSekIekrC — RippleX (@RippleXDev) June 10, 2024 “The launch of this fund is a testament to Ripple’s strong belief in the potential of Japan and Korea as pivotal regional hubs for blockchain innovation,” posited Ripple’s vice president of strategic initiatives, Emi Yoshikawa, in a June 11 official statement. Notably, this APAC funds initiative is part of Ripple’s ongoing commitment of 1 billion XRP to provide financial, technical, and business support to developers within the XRP Ledger. It’s worth noting that Ripple has long been a notable force in APAC. Ripple chief Bradley Garlinghouse has continually hailed Japan for its crypto-friendly laws and even hinted at moving the firm’s global headquarters from the U.S. to Japan. Ripple’s Asian Expansion Skyrockets Despite SEC Shadow Ripple previously solidified its presence in Japan via a tie-up with Tokyo-based HashKey DX to bring XRPL-powered enterprise solutions to the Japanese market. It also established SBI Ripple Asia in 2016 — a joint venture with Japanese financial giant SBI Holdings, to push the adoption of Ripple payments solutions in the region. SBI VC Trade, the crypto trading unit of SBI Holdings, started running its validator on the XRP Ledger in May, a move that Ripple’s Yoshikawa described as a “huge step” for the XRP Ledger.  Ripple’s growth in Japan comes despite its protracted lawsuit in the United States over the sale of the XRP cryptocurrency via an unregistered securities offering. As the SEC vs Ripple suit continues to unravel, the new fund in Japan and Korea — two powerful economies in East Asia — will help Ripple further strengthen its presence in the APAC region, which could soon reflect in the price of XRP.

Ripple’s Bold Move in Japan and Korea to Trigger XRP’s Next Mega Price Explosion to $3

San Francisco-headquartered blockchain firm Ripple Labs has launched a new fund in Japan and South Korea aimed at fostering XRP Ledger (XRPL) innovation and adoption in the two markets. The XRPL Japan and Korea fund is part of a broader commitment from Ripple, allocating 1 billion XRP to support various projects that catalyze the growth and development of the XRPL ecosystem as it continues to fortify its presence in Asia-Pacific.

With XRP now valued at $0.4806 per coin at today’s prices, enthusiasts speculate whether the token can break past its next psychological resistance region around $0.55 and potentially hit a new lifetime peak above the $3 line.

Ripple Introduces Massive APAC Fund

Ripple stole the spotlight on Tuesday following the launch of its Japan and Korea fund, demonstrating Ripple’s commitment to boosting innovation and utility of the XRP Ledger in the APAC region.

The funds will be used to forge corporate partnerships, offer developer grants, make startup investments, and promote community growth.

We're proud to launch the XRPL Japan & Korea Fund to boost innovation & utility on the #XRPL in APAC! Includes: Corporate Partnerships Dev Grants Startup Investments Community GrowthLearn how the fund fosters innovation and growth: https://t.co/zFSekIekrC

— RippleX (@RippleXDev) June 10, 2024

“The launch of this fund is a testament to Ripple’s strong belief in the potential of Japan and Korea as pivotal regional hubs for blockchain innovation,” posited Ripple’s vice president of strategic initiatives, Emi Yoshikawa, in a June 11 official statement.

Notably, this APAC funds initiative is part of Ripple’s ongoing commitment of 1 billion XRP to provide financial, technical, and business support to developers within the XRP Ledger.

It’s worth noting that Ripple has long been a notable force in APAC. Ripple chief Bradley Garlinghouse has continually hailed Japan for its crypto-friendly laws and even hinted at moving the firm’s global headquarters from the U.S. to Japan.

Ripple’s Asian Expansion Skyrockets Despite SEC Shadow

Ripple previously solidified its presence in Japan via a tie-up with Tokyo-based HashKey DX to bring XRPL-powered enterprise solutions to the Japanese market. It also established SBI Ripple Asia in 2016 — a joint venture with Japanese financial giant SBI Holdings, to push the adoption of Ripple payments solutions in the region.

SBI VC Trade, the crypto trading unit of SBI Holdings, started running its validator on the XRP Ledger in May, a move that Ripple’s Yoshikawa described as a “huge step” for the XRP Ledger. 

Ripple’s growth in Japan comes despite its protracted lawsuit in the United States over the sale of the XRP cryptocurrency via an unregistered securities offering. As the SEC vs Ripple suit continues to unravel, the new fund in Japan and Korea — two powerful economies in East Asia — will help Ripple further strengthen its presence in the APAC region, which could soon reflect in the price of XRP.
Solana Releases New Major Upgrade As ETF Rumors Intensify for SOL and XRPMajor cryptocurrency network Solana (SOL) has released a major upgrade on its mainnet as rumors around a possible Exchange Traded Fund (ETF) application intensify. Titled V 1.18.15, the new upgrade is the latest on the Solana blockchain and aims to improve the programmable blockchain for its end users. Solana on the Rise? Solana’s star is on the rise as the crypto maintains its position as the network of choice for blockchain developers. Despite its occasional choking problems, an overwhelming majority of new blockchain development is being done on the fifth-largest crypto network by market capitalization. Trailing only Bitcoin, Ethereum, USD Tether, and BNB in the charts, SOL is making great progress on the valuation front. The digital currency has risen almost 128.5% during this time, outperforming both Bitcoin and Ethereum in the process. For years, Ethereum has occupied second place in the crypto charts, and all prospective alternatives have bitten the dust. Solana suffered a ton during the last bear market, losing 96% of its value from the peak levels of 2021. However, the network has bounced back effectively, and the one aspect it is really benefitting from is that it is a blockchain that programmers and decentralized projects actually like. Solana is more scalable and, to some extent, faster than Ethereum. But Ethereum still reigns supreme due to its legacy value and extensive development efforts, so it will not be an easy target for Solana. The latest Solana upgrade includes some crucial bug fixes and the community’s attempt at speeding up transactions. The main problem plaguing the network has been congestion issues, and now serious attempts are being made to close the lid on it. However, Solana isn’t the only programmable network that faces this problem. Ethereum is notorious for it, and so are its other well-known competitors. Solana and XRP ETF Rumors Solana and XRP are reportedly the next candidate for spot ETF approval in the United States. The ETF rumor has been around for the last few weeks since the US Securities and Exchange Commission (SEC) approved the first Ethereum ETFs. While crypto-skeptic financial institutions like JPMorgan Chase have played down the prospects of Solana and XRP ETFs, others do not share the same opinion. BlackRock is reportedly the most prominent name eying a spot SOL ETF. The largest asset manager in the world manages over $15 trillion worth of assets and operates the most successful Bitcoin ETF fund to date. It is also reportedly interested in these smaller coins and wants to offer ETFs for many of them. However, BlackRock is only one part of the equation, as the SEC has to approve these spot ETFs. There is no indication yet regarding their intention, but if they allow applications, there is a strong chance of eventual acceptance.

Solana Releases New Major Upgrade As ETF Rumors Intensify for SOL and XRP

Major cryptocurrency network Solana (SOL) has released a major upgrade on its mainnet as rumors around a possible Exchange Traded Fund (ETF) application intensify. Titled V 1.18.15, the new upgrade is the latest on the Solana blockchain and aims to improve the programmable blockchain for its end users.

Solana on the Rise?

Solana’s star is on the rise as the crypto maintains its position as the network of choice for blockchain developers. Despite its occasional choking problems, an overwhelming majority of new blockchain development is being done on the fifth-largest crypto network by market capitalization.

Trailing only Bitcoin, Ethereum, USD Tether, and BNB in the charts, SOL is making great progress on the valuation front.

The digital currency has risen almost 128.5% during this time, outperforming both Bitcoin and Ethereum in the process. For years, Ethereum has occupied second place in the crypto charts, and all prospective alternatives have bitten the dust. Solana suffered a ton during the last bear market, losing 96% of its value from the peak levels of 2021.

However, the network has bounced back effectively, and the one aspect it is really benefitting from is that it is a blockchain that programmers and decentralized projects actually like. Solana is more scalable and, to some extent, faster than Ethereum. But Ethereum still reigns supreme due to its legacy value and extensive development efforts, so it will not be an easy target for Solana.

The latest Solana upgrade includes some crucial bug fixes and the community’s attempt at speeding up transactions. The main problem plaguing the network has been congestion issues, and now serious attempts are being made to close the lid on it. However, Solana isn’t the only programmable network that faces this problem. Ethereum is notorious for it, and so are its other well-known competitors.

Solana and XRP ETF Rumors

Solana and XRP are reportedly the next candidate for spot ETF approval in the United States. The ETF rumor has been around for the last few weeks since the US Securities and Exchange Commission (SEC) approved the first Ethereum ETFs.

While crypto-skeptic financial institutions like JPMorgan Chase have played down the prospects of Solana and XRP ETFs, others do not share the same opinion. BlackRock is reportedly the most prominent name eying a spot SOL ETF.

The largest asset manager in the world manages over $15 trillion worth of assets and operates the most successful Bitcoin ETF fund to date. It is also reportedly interested in these smaller coins and wants to offer ETFs for many of them.

However, BlackRock is only one part of the equation, as the SEC has to approve these spot ETFs. There is no indication yet regarding their intention, but if they allow applications, there is a strong chance of eventual acceptance.
Bitcoin Price Dithers Under $67K As Spot ETFs Record $65M Net Outflows, Breaking 19-Day Inflow St...In another day of crypto market drudgery, the price of Bitcoin slumped into its increasingly familiar environs below $67,000 on June 11 after surfacing briefly above the $70K mark last week. This comes ahead of U.S. inflation data and the FOMC meeting. Meanwhile, U.S. spot BTC exchange-traded funds registered net outflows of $65 million on Monday, breaking their longest inflow streak of 19 days. 19-Day Green Streak Ends According to preliminary data, the last day to see net outflows across all 11 U.S. spot Bitcoin ETFs was May 10, when investors yanked $85 million from the novel products. Grayscale’s GBTC led the pack with $40 million in outflows on June 10. GBTC continues its notorious run of being the worst-performing Bitcoin ETF in terms of outflows since going live in January, racking up a cumulative $18 billion in outflows. Since their inception in January, the 11 spot investment vehicles have logged a cumulative net inflow of nearly $16 billion. On Monday, Invesco and Galaxy Digital’s BTCO ETF and Valkyrie Digital Assets’ BRRR ETF witnessed outflows of $20.5 million and $15.8 million, respectively. BlackRock’s IBIT, currently the largest spot BTC ETF by assets under management, saw net inflows of a mere $6 million, while Bitwise’s BITB saw $8 million in inflows. Bitcoin Nosedives As Crypto Market Sees Sharp Decline The outflows came as Bitcoin’s price fell sharply. Investors anticipate the U.S. Bureau of Labor Statistics’s release of its May figures for its key inflation-measuring Consumer Price Index (CPI) on June 11. Starting today, the Fed’s monetary policy will also be decided at a two-day Federal Open Market Committee (FOMC) meeting. The world’s largest digital asset by market capitalization, BTC, dropped by 4.3% over the past 24 hours to lows of $66,207, according to CoinGecko. Major alternative cryptocurrencies — so-called altcoins — including Ether (ETH), Solana’s SOL, Ripple’s XRP, and Dogecoin (DOGE) also endured considerable losses today. Meanwhile, asset managers are still waiting for the Securities and Exchange Commission’s feedback on their S-1 registration statements after greenlighting 19b-4 filings. The SEC has to approve S-1 forms from would-be issuers before the spot Ether funds can be officially listed for trading. SEC chairman Gary Gensler suggested on June 6 that the approval will depend on how fast issuers can respond to comments from the agency.

Bitcoin Price Dithers Under $67K As Spot ETFs Record $65M Net Outflows, Breaking 19-Day Inflow St...

In another day of crypto market drudgery, the price of Bitcoin slumped into its increasingly familiar environs below $67,000 on June 11 after surfacing briefly above the $70K mark last week.

This comes ahead of U.S. inflation data and the FOMC meeting. Meanwhile, U.S. spot BTC exchange-traded funds registered net outflows of $65 million on Monday, breaking their longest inflow streak of 19 days.

19-Day Green Streak Ends

According to preliminary data, the last day to see net outflows across all 11 U.S. spot Bitcoin ETFs was May 10, when investors yanked $85 million from the novel products.

Grayscale’s GBTC led the pack with $40 million in outflows on June 10. GBTC continues its notorious run of being the worst-performing Bitcoin ETF in terms of outflows since going live in January, racking up a cumulative $18 billion in outflows. Since their inception in January, the 11 spot investment vehicles have logged a cumulative net inflow of nearly $16 billion.

On Monday, Invesco and Galaxy Digital’s BTCO ETF and Valkyrie Digital Assets’ BRRR ETF witnessed outflows of $20.5 million and $15.8 million, respectively. BlackRock’s IBIT, currently the largest spot BTC ETF by assets under management, saw net inflows of a mere $6 million, while Bitwise’s BITB saw $8 million in inflows.

Bitcoin Nosedives As Crypto Market Sees Sharp Decline

The outflows came as Bitcoin’s price fell sharply. Investors anticipate the U.S. Bureau of Labor Statistics’s release of its May figures for its key inflation-measuring Consumer Price Index (CPI) on June 11. Starting today, the Fed’s monetary policy will also be decided at a two-day Federal Open Market Committee (FOMC) meeting.

The world’s largest digital asset by market capitalization, BTC, dropped by 4.3% over the past 24 hours to lows of $66,207, according to CoinGecko. Major alternative cryptocurrencies — so-called altcoins — including Ether (ETH), Solana’s SOL, Ripple’s XRP, and Dogecoin (DOGE) also endured considerable losses today.

Meanwhile, asset managers are still waiting for the Securities and Exchange Commission’s feedback on their S-1 registration statements after greenlighting 19b-4 filings. The SEC has to approve S-1 forms from would-be issuers before the spot Ether funds can be officially listed for trading. SEC chairman Gary Gensler suggested on June 6 that the approval will depend on how fast issuers can respond to comments from the agency.
Ethereum Whale Activity on the Rise Following Spot ETH ETF ApprovalEthereum (ETH) has been exhibiting signs of weakness, continuing its descent below the $4,000 mark this week. The daily price chart reveals a downward trend, with the cryptocurrency declining by approximately 5.89% over the past seven days. This decline can be attributed to several factors, including a broader market pullback led by Bitcoin. Nevertheless, amidst this price drop, Ethereum whale activity has surged significantly following the approval of the spot ETH ETF last month. Over the weekend, Ali Martinez, a popular crypto analyst, highlighted this development, noting that Ethereum addresses holding 10,000 or more ETH have increased by 3% in the last three weeks, indicating a significant spike in buying pressure. Technical analysts also believe ETH is poised for a potential surge. Notably, the cryptocurrency recently broke through its consolidation pattern resistance, spurred by the ETF approval news on May 20th. However, the initial market reaction seemed premature and fueled by rumors, leading to a subsequent consolidation phase. In a post on TradingView, analyst RLinda noted that ETH is currently forming a consolidation pattern with the potential for an upward breakout. “The candlestick patterns on W1, D1, and H4 form interesting bullish premises indicating that it is the buyer who is assembling a position with the aim of breaking the $3,830-$3,950 resistance with the aim of rallying and updating ATH.” She wrote. However, some analysts urge caution. Analyst “Greatest Trader” from CryptoQuant warned that Ethereum’s decline might persist in the short term if market conditions do not improve. Despite ETH’s struggle to surpass the $4,000 mark, he noted that attention is now on the futures market participants’ behavior. He presented a chart showing that the 7-day moving average of the Taker Buy Sell Ratio, which measures the relative aggressiveness of buyers versus sellers, has declined sharply and has not risen above one. “This trend suggests that the majority of futures traders have been selling Ethereum aggressively, either for speculative purposes or to realize profits. This significant drop in the metric is a bearish signal, suggesting that the current downward retracement could persist if this trend continues.” He stated. ETH was trading at $3,473 at press time, reflecting a 4.95% drop over the past 24 hours. Notably, the coin’s price experienced a flash crash earlier on Tuesday, partially attributed to a whale dumping roughly 150,000 ETH worth $1.1 billion on Coinbase.

Ethereum Whale Activity on the Rise Following Spot ETH ETF Approval

Ethereum (ETH) has been exhibiting signs of weakness, continuing its descent below the $4,000 mark this week. The daily price chart reveals a downward trend, with the cryptocurrency declining by approximately 5.89% over the past seven days. This decline can be attributed to several factors, including a broader market pullback led by Bitcoin.

Nevertheless, amidst this price drop, Ethereum whale activity has surged significantly following the approval of the spot ETH ETF last month. Over the weekend, Ali Martinez, a popular crypto analyst, highlighted this development, noting that Ethereum addresses holding 10,000 or more ETH have increased by 3% in the last three weeks, indicating a significant spike in buying pressure.

Technical analysts also believe ETH is poised for a potential surge. Notably, the cryptocurrency recently broke through its consolidation pattern resistance, spurred by the ETF approval news on May 20th. However, the initial market reaction seemed premature and fueled by rumors, leading to a subsequent consolidation phase.

In a post on TradingView, analyst RLinda noted that ETH is currently forming a consolidation pattern with the potential for an upward breakout.

“The candlestick patterns on W1, D1, and H4 form interesting bullish premises indicating that it is the buyer who is assembling a position with the aim of breaking the $3,830-$3,950 resistance with the aim of rallying and updating ATH.” She wrote.

However, some analysts urge caution. Analyst “Greatest Trader” from CryptoQuant warned that Ethereum’s decline might persist in the short term if market conditions do not improve. Despite ETH’s struggle to surpass the $4,000 mark, he noted that attention is now on the futures market participants’ behavior. He presented a chart showing that the 7-day moving average of the Taker Buy Sell Ratio, which measures the relative aggressiveness of buyers versus sellers, has declined sharply and has not risen above one.

“This trend suggests that the majority of futures traders have been selling Ethereum aggressively, either for speculative purposes or to realize profits. This significant drop in the metric is a bearish signal, suggesting that the current downward retracement could persist if this trend continues.” He stated.

ETH was trading at $3,473 at press time, reflecting a 4.95% drop over the past 24 hours. Notably, the coin’s price experienced a flash crash earlier on Tuesday, partially attributed to a whale dumping roughly 150,000 ETH worth $1.1 billion on Coinbase.
$3 XRP Price Beckons As Ripple Pens Deal With Georgia’s Central Bank to Revolutionize EconomyThe company behind the cryptocurrency XRP, Ripple, has struck a deal with the Republic of Georgia to digitize the local economy. Top officials from the National Bank of Georgia (NBG) recently met with the crypto firm’s executives to boost alliance in financial technology and digitalization. National Bank Of Georgia Banks On Ripple’s Technology To Digitize Economy  Ripple, a leading provider of enterprise blockchain solutions for cross-border payments, is strengthening ties with the Republic of Georgia. According to a LinkedIn post on June 8 by the National Bank of Georgia, Natia Turnava, acting governor of the NBG, and Varlam Ebanoidze, head of the bank’s financial and supervisory technology development department, had discussions with Ripple’s vice president of central bank engagements, James Wallis. The purpose of the meeting was to determine areas of collaboration in promoting the digitization of the Georgian economy. During the meeting, Wallis introduced the Georgian representatives to Alistair Brown, an official at Ripple’s partner EPAM Systems. While specific details of the meeting are scanty, the talks signal progress in incorporating cutting-edge blockchain solutions into the nation’s financial infrastructure. Previous Ripple And Georgia Partnership The new initiative builds on the previous alliance between the Georgian central bank and Ripple, where the San Fransciso-headquartered blockchain payments company serves as the official technology partner for creating lari, its central bank digital currency (CBDC) project. Back in July 2023, Ripple was hailed by Currency Research for its contributions to digital currency advancement and the most promising sustainability initiative, specifically for its role in promoting innovation in the CBDC sector. Ripple’s Global CBDC Endeavors Before the collaboration with the NBG for the digital lari project, Ripple had notably aligned itself with financial institutions looking to foray into CBDC developments.  Ripple previously teamed up with Colombia, Palau, and Bhutan, among others, to create digital versions of their national currencies. Ripple released a 23-page white paper last December, reiterating its belief in the potential of central bank digital currencies to boost financial inclusion, streamline cross-border payments, and support monetary policy control. Ripple’s continued growth comes despite ongoing legal woes stemming from a Securities and Exchange Commission (SEC) case against the firm lodged in December 2020. The legal battle is now headed for a conclusion after both Ripple and the securities regulator filed final responses. Analysts anticipate a final judgment around September when Judge Analisa Torres will rule on the appropriate remedies.  As Ripple garners more large-scale adoption and the long-standing lawsuit nears climax, crypto enthusiasts will closely watch the company’s growth as ultra-bullish use cases look poised to catapult XRP to new historic highs with bulls eying the $3 aspirational level. XRP is changing hands at $0.4974 as of publication time, a -0.1% change over the last 24 hours.

$3 XRP Price Beckons As Ripple Pens Deal With Georgia’s Central Bank to Revolutionize Economy

The company behind the cryptocurrency XRP, Ripple, has struck a deal with the Republic of Georgia to digitize the local economy. Top officials from the National Bank of Georgia (NBG) recently met with the crypto firm’s executives to boost alliance in financial technology and digitalization.

National Bank Of Georgia Banks On Ripple’s Technology To Digitize Economy 

Ripple, a leading provider of enterprise blockchain solutions for cross-border payments, is strengthening ties with the Republic of Georgia.

According to a LinkedIn post on June 8 by the National Bank of Georgia, Natia Turnava, acting governor of the NBG, and Varlam Ebanoidze, head of the bank’s financial and supervisory technology development department, had discussions with Ripple’s vice president of central bank engagements, James Wallis.

The purpose of the meeting was to determine areas of collaboration in promoting the digitization of the Georgian economy. During the meeting, Wallis introduced the Georgian representatives to Alistair Brown, an official at Ripple’s partner EPAM Systems. While specific details of the meeting are scanty, the talks signal progress in incorporating cutting-edge blockchain solutions into the nation’s financial infrastructure.

Previous Ripple And Georgia Partnership

The new initiative builds on the previous alliance between the Georgian central bank and Ripple, where the San Fransciso-headquartered blockchain payments company serves as the official technology partner for creating lari, its central bank digital currency (CBDC) project.

Back in July 2023, Ripple was hailed by Currency Research for its contributions to digital currency advancement and the most promising sustainability initiative, specifically for its role in promoting innovation in the CBDC sector.

Ripple’s Global CBDC Endeavors

Before the collaboration with the NBG for the digital lari project, Ripple had notably aligned itself with financial institutions looking to foray into CBDC developments. 

Ripple previously teamed up with Colombia, Palau, and Bhutan, among others, to create digital versions of their national currencies. Ripple released a 23-page white paper last December, reiterating its belief in the potential of central bank digital currencies to boost financial inclusion, streamline cross-border payments, and support monetary policy control.

Ripple’s continued growth comes despite ongoing legal woes stemming from a Securities and Exchange Commission (SEC) case against the firm lodged in December 2020. The legal battle is now headed for a conclusion after both Ripple and the securities regulator filed final responses. Analysts anticipate a final judgment around September when Judge Analisa Torres will rule on the appropriate remedies. 

As Ripple garners more large-scale adoption and the long-standing lawsuit nears climax, crypto enthusiasts will closely watch the company’s growth as ultra-bullish use cases look poised to catapult XRP to new historic highs with bulls eying the $3 aspirational level.

XRP is changing hands at $0.4974 as of publication time, a -0.1% change over the last 24 hours.
Bitcoin $350,000 Price By August? Kiyosaki’s Bullish Bet Defies Market RealityBitcoin is set to reach as high as $350k by the 25th of August this year, according to the author of the New York Times bestseller Rich Dad, Poor Dad. Robert Kiyosaki, a PhD economist in question, is a known Bitcoin bull and has made bold predictions in the past regarding the digital currency. Kiyosaki posted on X: While Kiyosaki did tweet that the premier digital currency will reach $350k in about two and a half months, he followed up with a more realistic take by saying it is only a prediction, not a lie. He also stated that he is going to keep buying more Bitcoin, Ethereum, and Solana because he is certain their prices will continue to rise as well. Are Kiyosaki’s Predictions Reliable? Kiyosaki then followed up with vitriol against the President, Fed chairman Gary Powell, and Treasury Secretary Janet Yellen. He is known to be critical of the US government’s irresponsible fiscal policies, and he prefers BTC because of its declared scarcity. However, just a couple of months ago, Kiyosaki tweeted a prediction that the digital currency would reach as high as $100k by the end of June. We are already a week into the new month, and the index is currently stuck just above $70k. Even a new All-Time High (ATH) has been elusive. It is still achievable but getting tougher with each passing day, and there is no clear price uptick. Bitcoin to $350k in 80 Days? Bitcoin has a lot of ground to cover to reach the massive $350k valuation by August 25 of this year. The index will need to appreciate roughly 500% to achieve this milestone, and the total market capitalization will cross the $6 trillion valuation in the process. Theoretically, 5x moves in the premier digital currency have happened before but not in such a short time since 8 years. So, Kiyosaki’s prediction of a $350k Bitcoin in such a short amount of time is quite unrealistic overall. While it may be possible at the end of the current bull market, it certainly has little chance by August. However, his June prediction of $100k is still in the books and the end of this month is highly anticipated as it would set the tone for the second half of the calendar year. Bulls would be looking to record a new ATH even if the $100k price target isn’t achieved.

Bitcoin $350,000 Price By August? Kiyosaki’s Bullish Bet Defies Market Reality

Bitcoin is set to reach as high as $350k by the 25th of August this year, according to the author of the New York Times bestseller Rich Dad, Poor Dad. Robert Kiyosaki, a PhD economist in question, is a known Bitcoin bull and has made bold predictions in the past regarding the digital currency.

Kiyosaki posted on X:

While Kiyosaki did tweet that the premier digital currency will reach $350k in about two and a half months, he followed up with a more realistic take by saying it is only a prediction, not a lie. He also stated that he is going to keep buying more Bitcoin, Ethereum, and Solana because he is certain their prices will continue to rise as well.

Are Kiyosaki’s Predictions Reliable?

Kiyosaki then followed up with vitriol against the President, Fed chairman Gary Powell, and Treasury Secretary Janet Yellen. He is known to be critical of the US government’s irresponsible fiscal policies, and he prefers BTC because of its declared scarcity.

However, just a couple of months ago, Kiyosaki tweeted a prediction that the digital currency would reach as high as $100k by the end of June. We are already a week into the new month, and the index is currently stuck just above $70k. Even a new All-Time High (ATH) has been elusive. It is still achievable but getting tougher with each passing day, and there is no clear price uptick.

Bitcoin to $350k in 80 Days?

Bitcoin has a lot of ground to cover to reach the massive $350k valuation by August 25 of this year. The index will need to appreciate roughly 500% to achieve this milestone, and the total market capitalization will cross the $6 trillion valuation in the process.

Theoretically, 5x moves in the premier digital currency have happened before but not in such a short time since 8 years. So, Kiyosaki’s prediction of a $350k Bitcoin in such a short amount of time is quite unrealistic overall. While it may be possible at the end of the current bull market, it certainly has little chance by August.

However, his June prediction of $100k is still in the books and the end of this month is highly anticipated as it would set the tone for the second half of the calendar year. Bulls would be looking to record a new ATH even if the $100k price target isn’t achieved.
ADA Primed for Monstrous Explosion to $1 As “Most Significant” Milestone in Cardano’s History NearsA hard fork that Charles Hoskinson says will be the most important milestone in the history of his pet project, Cardano, is set to go live soon. In a June 9 post on X (aka Twitter), Hoskinson noted that Cardano 9.0 is launching in June, setting the stage for the highly-awaited Chang hard fork. According to Hoskinson, the Cardano network is already Chang-ready, meaning the fork can activate once 70% of stake pool operators (SPOs) install the new node. Chang will usher in the Voltaire era, the final era of the Cardano roadmap that focuses on community-run governance. This will mark a huge feat for the network and the blockchain industry at large. Hoskinson described it as the “most significant” milestone in Cardano’s history. “Cardano will be a decentralized civilization spanning the entire world with millions of residents. We’ll have the most advanced blockchain governance system, annual budgets, a treasury, and the wisdom of our entire community to guide us,” the Cardano creator stated. Hoskinson further reminisced on the journey over the past ten years, remarking that building Cardano has been akin to building a nation. He expressed pride in the dedicated Cardano community and is bullish about the future. Hoskinson added that Cardano gives him hope for the industry and the world and urged everyone to make a dramatic impact in the next decade. Created in 2015 by a team helmed by Charles Hoskinson after he co-founded the world’s second-largest crypto, Ethereum, Cardano takes itself more seriously than its competitors like Solana. Just days ago, the founder spoke about the huge disconnect between media perception and Cardano’s actual fundamentals. Hoskinson slammed the crypto media for not recognizing Cardano’s tremendous advancements. ADA Price Eyes Potential Recovery Ahead Cardano’s ADA, once ranked third in the crypto rankings during the 2020–2021 bull market, is currently the 11th most valuable cryptocurrency. Cardano is now valued at over 85% below its all-time high of $3.09, registered in September 2021. At a time when Bitcoin (BTC) and other alternative cryptocurrencies have recouped most of their losses from the previous cycle, with some even setting new lifetime highs, Cardano, similar to XRP, appears stuck in a price range. However, the forthcoming historic milestone could restore investor confidence and catapult ADA to new heights. ADA has gained a paltry 0.1% in the past week to trade for $0.4454 at press time, but investors remain optimistic about a climb to the coveted $1 level. With Chang just around the corner and key technical indicators signaling a potential strong rebound, ADA’s price trajectory in the coming weeks and months will certainly be key for its long-term future.

ADA Primed for Monstrous Explosion to $1 As “Most Significant” Milestone in Cardano’s History Nears

A hard fork that Charles Hoskinson says will be the most important milestone in the history of his pet project, Cardano, is set to go live soon.

In a June 9 post on X (aka Twitter), Hoskinson noted that Cardano 9.0 is launching in June, setting the stage for the highly-awaited Chang hard fork. According to Hoskinson, the Cardano network is already Chang-ready, meaning the fork can activate once 70% of stake pool operators (SPOs) install the new node.

Chang will usher in the Voltaire era, the final era of the Cardano roadmap that focuses on community-run governance. This will mark a huge feat for the network and the blockchain industry at large. Hoskinson described it as the “most significant” milestone in Cardano’s history.

“Cardano will be a decentralized civilization spanning the entire world with millions of residents. We’ll have the most advanced blockchain governance system, annual budgets, a treasury, and the wisdom of our entire community to guide us,” the Cardano creator stated.

Hoskinson further reminisced on the journey over the past ten years, remarking that building Cardano has been akin to building a nation. He expressed pride in the dedicated Cardano community and is bullish about the future. Hoskinson added that Cardano gives him hope for the industry and the world and urged everyone to make a dramatic impact in the next decade.

Created in 2015 by a team helmed by Charles Hoskinson after he co-founded the world’s second-largest crypto, Ethereum, Cardano takes itself more seriously than its competitors like Solana. Just days ago, the founder spoke about the huge disconnect between media perception and Cardano’s actual fundamentals. Hoskinson slammed the crypto media for not recognizing Cardano’s tremendous advancements.

ADA Price Eyes Potential Recovery Ahead

Cardano’s ADA, once ranked third in the crypto rankings during the 2020–2021 bull market, is currently the 11th most valuable cryptocurrency. Cardano is now valued at over 85% below its all-time high of $3.09, registered in September 2021. At a time when Bitcoin (BTC) and other alternative cryptocurrencies have recouped most of their losses from the previous cycle, with some even setting new lifetime highs, Cardano, similar to XRP, appears stuck in a price range.

However, the forthcoming historic milestone could restore investor confidence and catapult ADA to new heights. ADA has gained a paltry 0.1% in the past week to trade for $0.4454 at press time, but investors remain optimistic about a climb to the coveted $1 level.

With Chang just around the corner and key technical indicators signaling a potential strong rebound, ADA’s price trajectory in the coming weeks and months will certainly be key for its long-term future.
Solana ETF Buzz Grows — BlackRock Reportedly InterestedAfter Bitcoin and Ethereum’s Exchange Traded Fund (ETF) applications, Solana appears to be the next candidate in the United States. The fifth-largest cryptocurrency by market capitalization is performing admirably in the market overall, but it has had its fair share of challenges in the last few months.  Rumors of an impending Solana ETF are increasingly making rounds. Among these rumors is a claim that BlackRock is interested in pursuing a spot Solana ETF. Time for a Solana ETF? Rumors regarding a Solana ETF have been going around in the crypto market for the last few weeks after the preliminary approval of the first Ethereum ETFs in the USA. Surprisingly, the largest economy in the world allowed this move despite federal regulators having fundamental problems with the network. They did ensure certain regressive measures regarding ETFs, including a lack of staking option, which will hurt these exchange funds, but they are here nonetheless. Investors haven’t been as keen on them as on Bitcoin ETFs, which have raised record capital in the last three and a half months of approval. But for the funds launching these ETFs, it is all about long-term acceptance within the investment community, and ETH has risen in response to this move. Why a Solana ETF Application is Complicated? When it comes to Solana, the move is a lot more complicated. Bitcoin and Ethereum have been the mainstays of the digital currency revolution for the better part of the last seven years. No other cryptocurrency has come close to challenging their domination, apart from a brief challenge from Ripple’s XRP in late 2017. Both of these networks are synonymous with the success of the digital currency space, which has shown in their performance. On the other hand, Solana is hardly four years old and was one of the biggest success stories to emerge from the 2020-2021 bull market. The programmable digital currency suffered a major price tank after the 2021 bull market and lost 96% of its value. However, it has recovered most of its value since then and seems poised to have a big bull run during the highly anticipated 2024-2025 bullish phase. Solana ETF Approval to Start an Avalanche of Crypto ETFs If a Solana ETF is approved, it would open a cascade of similar requests from smaller crypto projects, which could make the job much more challenging for the US Securities and Exchange Commission (SEC). According to Bloomberg crypto analyst Eric Balchunas, a spot Solana ETF is likely to be delayed until the US elections in November, and if favorable candidates win, it would be a much more favorable situation for such a launch.

Solana ETF Buzz Grows — BlackRock Reportedly Interested

After Bitcoin and Ethereum’s Exchange Traded Fund (ETF) applications, Solana appears to be the next candidate in the United States. The fifth-largest cryptocurrency by market capitalization is performing admirably in the market overall, but it has had its fair share of challenges in the last few months. 

Rumors of an impending Solana ETF are increasingly making rounds. Among these rumors is a claim that BlackRock is interested in pursuing a spot Solana ETF.

Time for a Solana ETF?

Rumors regarding a Solana ETF have been going around in the crypto market for the last few weeks after the preliminary approval of the first Ethereum ETFs in the USA. Surprisingly, the largest economy in the world allowed this move despite federal regulators having fundamental problems with the network. They did ensure certain regressive measures regarding ETFs, including a lack of staking option, which will hurt these exchange funds, but they are here nonetheless.

Investors haven’t been as keen on them as on Bitcoin ETFs, which have raised record capital in the last three and a half months of approval. But for the funds launching these ETFs, it is all about long-term acceptance within the investment community, and ETH has risen in response to this move.

Why a Solana ETF Application is Complicated?

When it comes to Solana, the move is a lot more complicated. Bitcoin and Ethereum have been the mainstays of the digital currency revolution for the better part of the last seven years. No other cryptocurrency has come close to challenging their domination, apart from a brief challenge from Ripple’s XRP in late 2017. Both of these networks are synonymous with the success of the digital currency space, which has shown in their performance.

On the other hand, Solana is hardly four years old and was one of the biggest success stories to emerge from the 2020-2021 bull market. The programmable digital currency suffered a major price tank after the 2021 bull market and lost 96% of its value. However, it has recovered most of its value since then and seems poised to have a big bull run during the highly anticipated 2024-2025 bullish phase.

Solana ETF Approval to Start an Avalanche of Crypto ETFs

If a Solana ETF is approved, it would open a cascade of similar requests from smaller crypto projects, which could make the job much more challenging for the US Securities and Exchange Commission (SEC). According to Bloomberg crypto analyst Eric Balchunas, a spot Solana ETF is likely to be delayed until the US elections in November, and if favorable candidates win, it would be a much more favorable situation for such a launch.
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