SBI Digital Community Co., Ltd., a SBI Group subsidiary, and Ripple Labs have announced a strategic partnership to promote the utilization of the XRP Ledger within the Web3 community. According to an official press release dated August 13, the collaboration will focus on integrating the XRP Ledger into “Bto3Web3 community”, a digital platform managed by […]
As the cryptocurrency market continues to evolve, Ripple (XRP), once considered a revolutionary asset in the crypto space, seems to have lost its explosive potential. Despite recent legal victories and attempts to rebrand, Ripple (XRP) has struggled to maintain the momentum that many investors hoped for. With the future of XRP uncertain, many investors are starting to diversify their portfolios by exploring new opportunities such as Mpeppe (MPEPE), a meme coin that is quickly gaining traction. The Decline of XRP: Legal Battles and Market Skepticism Ripple (XRP) was initially heralded as a game-changer in the cryptocurrency world, promising to bridge the gap between traditional finance and the blockchain revolution. However, its association with centralized financial institutions and its prolonged legal battle with the U.S. Securities and Exchange Commission (SEC) have cast a long shadow over its potential. The recent court rulings, while favorable to Ripple, have not provided the bullish momentum that many anticipated. Instead, XRP’s price remains stagnant, hovering around $0.56, and showing no signs of the explosive growth that some influencers had predicted. This has left many investors disillusioned, especially those who expected Ripple (XRP) to “go to the moon” after a legal victory. Moreover, there is growing speculation that the entire legal battle was a carefully orchestrated PR move to distance Ripple (XRP) from its controversial image. Reports suggest that Ripple is considering a rebranding campaign to rebuild trust and reposition itself in the market. However, these efforts have done little to revive investor confidence or spark the kind of price rally that could make XRP a top contender in the crypto market once again. Why XRP’s Explosive Potential Is Fading Several factors contribute to the diminishing outlook for XRP: Legal Uncertainty: Despite recent legal wins, the ongoing threat of an appeal by the SEC continues to hang over Ripple (XRP). This uncertainty makes it difficult for the token to gain the kind of widespread adoption and investor confidence needed for a significant price surge. Market Saturation: The cryptocurrency market is more crowded than ever, with new and innovative projects constantly emerging. Ripple’s (XRP) original promise of revolutionizing cross-border payments has been overshadowed by newer technologies and competitors offering more decentralized and transparent solutions. Stagnant Price Action: XRP’s failure to break out of its current price range, even after positive legal news, suggests that the market is no longer reacting as enthusiastically to developments related to Ripple. Investors are growing weary of waiting for a price explosion that may never come. Trust Issues: The speculation around a potential PR stunt and the need for a rebranding campaign indicate that XRP’s reputation has taken a hit. Restoring trust in a market driven by sentiment is a challenging task, especially when newer and more exciting projects are capturing the public’s imagination. Diversifying With Mpeppe (MPEPE): The New Frontier As Ripple (XRP) struggles to reclaim its former glory, investors are increasingly looking towards alternative opportunities in the crypto market. One such opportunity is Mpeppe (MPEPE), a meme coin that is quickly gaining a reputation as a dark horse in the crypto space. Mpeppe (MPEPE) offers a fresh and exciting alternative to stagnant assets like Ripple (XRP). Currently in its third stage of presale, MPEPE has already raised over $935,892, with 64.85% of its tokens sold. This strong presale performance indicates growing investor interest and confidence in the token’s potential. What makes Mpeppe (MPEPE) particularly appealing is its combination of meme culture and serious technological underpinnings. Unlike Ripple (XRP), which is bogged down by legal battles and a complicated relationship with the traditional financial system, MPEPE is unburdened by such baggage. It is designed to thrive in the current market environment, where community-driven projects and meme coins are capturing the spotlight. Moreover, Mpeppe (MPEPE) offers a robust smart contract system (address: 0xd328a1C97e9b6b3Afd42eAf535bcB55A85cDcA7B) that ensures transparency and security for all transactions, making it a trustworthy option for investors. As the token’s presale progresses, its price is set to increase, making now an opportune time for investors to get in early. Conclusion: The Case for Diversification While Ripple (XRP) may still have a place in the portfolios of those who believe in its long-term potential, the reality is that its explosive growth days may be behind it. Legal uncertainties, market saturation, and trust issues continue to weigh heavily on the token, making it less attractive to those seeking high returns in the near future. For investors looking to diversify and capture the next big opportunity in the crypto market, Mpeppe (MPEPE) presents a compelling case. With its strong presale performance, innovative approach, and the backing of a growing community, MPEPE is positioned to deliver the kind of returns that XRP once promised but has yet to deliver. In a market that rewards those who spot trends early, Mpeppe (MPEPE) offers a fresh and promising alternative. As Ripple (XRP) struggles to regain its footing, now might be the perfect time to diversify and explore new opportunities like MPEPE that are poised to dominate the next wave of crypto innovation. For more information on the Mpeppe (MPEPE) Presale: Visit Mpeppe (MPEPE) Join and become a community member: https://t.me/mpeppecoin https://x.com/mpeppecommunity?s=11&t=hQv3guBuxfglZI-0YOTGuQ
In a new essay, Arthur Hayes, the co-founder of crypto exchange BitMEX, has outlined a bullish future for Bitcoin and altcoins. His analysis, focused on the interplay between government liquidity operations and asset prices, suggests a looming bull market in the crypto space, driven by strategic fiscal maneuvers by the US Treasury. When Will The Bitcoin Bull Run Return? Hayes compares the quality of water in brewing coffee to the liquidity in financial markets, illustrating that just as the quality of water is crucial for making a good cup of coffee, liquidity is essential for the health and movement of financial markets. Hayes pointed out that many investors underestimate the impact of liquidity and often focus narrowly on more visible factors like technological advancements or regulatory changes. Hayes explains the concept of “fiscal dominance,” a situation where the government’s need to finance itself supersedes all other economic considerations, including the control of inflation. He specifically critiques the current policies under US Treasury Secretary Janet Yellen, whose tactics, according to Hayes, focus on generating nominal economic growth regardless of the inflationary outcomes. Related Reading: BTC’s Next Objective? Analyst Eyes Crucial $70,000 Resistance Zone For Bitcoin “During a period of fiscal dominance, the necessity to fund the state overrides any concerns the central bank may have about inflation,” Hayes explains. He details how this shift impacts liquidity, stating, “That means bank credit and, by extension, nominal GDP growth must be sustained at high levels even if it results in persistently higher than target inflation.” Drawing a direct connection between Treasury actions and crypto market movements, Hayes highlighted the correlation between the issuance of Treasury bills (T-bills) and Bitcoin price movements. He noted that when the Treasury increases T-bill issuance, it effectively shifts liquidity from instruments like the Reverse Repo Program (RRP) into more active uses, which historically corresponds with increases in Bitcoin prices. “As the RRP (white) fell from its high, Bitcoin (gold) pumped off the lows. As you can see, it’s a very tight relationship. As money leaves the Fed’s balance sheet, it adds liquidity, which causes […] Therefore, taking Bad Gurl Yellen’s word, we know that $301bn of T-bills will be net issued between now and year-end. If this relationship holds true, Bitcoin will quickly retrace the dump caused by the yen strengthening. The next stop for Bitcoin is $100,000″ Hayes speculates. When Altcoin Season? Therefore, Hayes advises crypto traders to pay close attention to fiscal and monetary policies, especially the actions of the US Treasury, as these are often precursors to significant market movements. Monitoring T-bill issuance and Treasury maneuvers can provide crypto investors with clues about upcoming shifts in market liquidity and potential price movements, according to Hayes. Related Reading: Bitcoin Investors Again Show Extreme Fear As BTC Slips To $59,000 Shifting focus to the broader crypto market, Hayes also discusses the potential for an ‘alt szn’ or altcoin season, which he predicts will follow a rally in Bitcoin and Ethereum prices. “Shitcoins are higher beta Bitcoin crypto plays. But during this cycle, Bitcoin and now Ether have structural bids in the form of net inflows into US-listed exchange-traded funds (ETF). While Bitcoin and Ether have corrected since April, they escaped the carnage experienced in the shitcoin markets.” Commenting on the potential of a full blown altcoin season like in previous cycles, Hayes assures that the time will come. However, altcoin season will only return after Bitcoin and Ether “decidedly break through $70,000 and $4,000, respectively.” He adds, “the combination of a dollar liquidity-inspired Bitcoin and Ether rally into year-end will create a strong foundation for the return of a sexy shitcoin soiree.” Interestingly, Hayes plans to capitalize on the US elections. He expects that the crypto bull run will exit its “sideways-to-downward trajectory” in September. “The US election occurs in early November. Yellen will be at peak manipulation in October. There will be no better time for liquidity this year. Therefore, I shall sell into strength. I will not liquidate my entire crypto portfolio but take profits in my more speculative momentum trades,” he revealed. Hayes further anticipates a more substantial market adjustment post US election and the US debt ceiling resolutions, “Once the US debt ceiling charade is over, liquidity will gush from the Treasury and possibly the Fed to get markets back on track. Then, the bull market will begin for realz. $1 million Bitcoin is still my base case.” At press time, BTC traded at $58,783. Featured image from YouTube, chart from TradingView.com
Ethereum and DeFi will “both surge in the coming months” according to analyst Michaël van de Poppe: X Hall of Flame
Bitcoin (BTC), the world’s biggest cryptocurrency by market capitalization looks bearish and may crash once again. Today, on August 13, 2024, a prominent trader made a post on X (previously Twitter) that Bitcoin Whales have offloaded a significant Bitcoin as its price fell below $60,000. Why Bitcoin Can Crash? According to the post on X, …
Hive's new high-performance computing platform clocked around $2.6 million in sales in the second quarter of 2024.
Mt. Gox repayment is in its final stage now. The insolvent exchange has tied up with 5 crypto exchanges to process the repayments for creditors since the 2011 hack. These exchanges include Bitbank, BitGo, Bistamp, Kraken and SBI VC trade, a Japanese exchange. Out of these 4 have already received and paid to most of …
Residents of the 50th state will again be able to access Coinbase thanks to new “regulatory clarity.”
Ethereum and Solana registered net inflows last week despite a price correction among most cryptocurrencies. According to the most recent Digital Asset Fund Flows Weekly Report published by CoinShares, the cumulative inflows into these investment products reached an impressive $176 million over the week. This positive trend was consistent across all regions, with each registering […]
Bitcoin appears in no mood to celebrate despite Japanese stocks fully recovering from a historic drop.
Crypto interests are planning to go after Sen. Sherrod Brown (D-Ohio) in their biggest-ever single campaign, setting aside $12 million to support the Republican candidate seeking to snatch the Senate seat from the current chairman of the Senate Banking Committee, who has been highly critical of the digital assets sector and reluctant to embrace crypto legislation.
Harris is preparing to unveil plans about her economic policy in a mid-August speech.
Expectations of the Solana price going above $200 have been rampant with the most recent recovery. In some cases, predictions have reached as high as $1,000 for the cryptocurrency, but one crypto analyst is going in the opposite direction. In a recent analysis, Alan Santana has predicted a crash for the SOL price that could eliminate all of its gains from the past week. Solana Shows Similar Patterns To 2023 In the analysis, crypto analyst Alan Santana points out that the Solana cryptocurrency is showing similarities to a trend that was seen back in 2023. Last year, the trend was with a rise in the trading volume of the altcoin, which was the start of a bullish run. However, this time around, there is more of a bearish run in the volume, which could suggest the beginning of a bearish trend for the digital asset. Related Reading: Celsius Takes Legal Action Against Tether In $2.4 Bitcoin Collateral Controversy Back in July 2023, Solana saw a notable rise in the buying volume, which was the highest level at the time. As the analyst points out, this strong buying volume began after around 45 days of bullish price action for the altcoin. The result of this was a continuation of bullish rallying, eventually reaching as high as $209 less than one year later. Applying this trend to the current trend could help to identify where the Solana price could be headed next. This time around, there has been a notable uptick in the selling volume of SOL. It is coming after 140 days of continuous bearish action on the SOL price. Using the result of the 2023 trend here would tell us that the Solana price could be headed for a further crash. Given that the current selling volume is the highest in over a year, the resulting crash is expected to be quite significant. How Low Will The SOL Price Go? With the bearish sell pressure mounting on the Solana price, it has posed a threat to SOL’s triple-digit status. In his chart, Alan Santana points out multiple levels where he sees the SOL price falling to, and both of them are below the $100 mark. Related Reading: Crypto Analyst Says End Of This Bitcoin Bear Trap Could Drive Price To $72,000 The first of the two is around $90, which is around a 40% price decline from its current level. Moving love, the second target is placed below $60, meaning an over 50% decline in price. Additionally, a drop to this level would mean a new one year high, since the SOL price hasn’t been below $60 since November 2023. Featured image created with Dall.E, chart from Tradingview.com
New developments make voting with decentralized tech a more realizable goal.
Market sentiment suggests that a Trump election victory is bullish for crypto and a Harris win would be bearish, the report said.
Yesterday, Donald Trump rejoined X and made a significant impact. Many reacted negatively to the interview, focusing on technical glitches and a perceived bias in favor of Trump. Despite being an important day for meme coins, analyst Ran of Crypto Banter believes the interview marked a turning point, potentially signaling the decline of the meme …
The investment was led by Archetype and included contributions from IOSG, Spartan, Amber Group and Big Brain Holdings.
Tether's investment in Kem could significantly enhance financial stability and inclusion in the Middle East, promoting broader crypto adoption.
The post Tether invests $3 million in Kem app to boost Middle East financial inclusion appeared first on Crypto Briefing.
Grayscale also launched funds for protocols Bittensor and Sui in August.
Solana (SOL), the world’s fifth-biggest cryptocurrency along with other top assets has been experiencing continuous selling pressure following the formation of a bearish price action pattern in its 4-hour time frame. This bearish pattern was also shared by a prominent analyst on X (previously Twitter) on August 13, 2024. Will SOL Crash? According to the …
The Ethereum network continues to demonstrate its remarkable presence in the cryptocurrency landscape with its scaling progress which popular market expert and head of research at Onchain Foundation, Leon Weidmann has confidently declared unstoppable, highlighting his confidence in the network’s potential in revolutionizing the sector. Ethereum Scaling Prevails In Heightened Market Volatility In a bold […]
Some users in the Mt. Gox creditors channel on Reddit reported receiving funds on their BitGo accounts.
The development of a Solana L2 DEX could significantly enhance decentralized trading efficiency, potentially challenging centralized exchanges.
The post Zeta founder: Solana L2 DEX could rival centralized exchange experience appeared first on Crypto Briefing.
The palpable growth of Solana (SOL) and Toncoin (TON) has outshined Cardano (ADA) in the web3 space over the past year. Cardano network has in the process received an equal share of criticism and applause from the crypto community. On one hand, some crypto enthusiasts have referred to the Cardano network as a sleeping giant …
Althea CEO Deborah Simpier explains how “liquid infrastructure” can unlock connectivity for underserved populations around the world.
It seems Terra’s troubles are never-ending! In a recent event, Three Arrows Capital (3AC) filed a $1.3 billion lawsuit against Terraform Labs in an attempt to recoup the huge losses it suffered following the collapse of Luna and TerraUSD according to a Bloomberg report. This legal battle is rooted in the dramatic events that unfolded …
Bitcoin could gain significant traction from the growing M2 money supply, but a correction below $58,000 is still on the table before more upside.
A test transaction from a dormant Mt. Gox wallet triggers speculation of Bitgo’s role in the ongoing Bitcoin distribution to creditors.
In the past 24 hours, the cryptocurrency market has increased by 1.6% to reach $2.08 trillion. However, a recent sell-off from a peak of $2.15 trillion, representing the midpoint of the past 30 days’ range, has tempered gains. Despite an overall rise in cryptocurrency prices compared to the previous day, there’s a clear selling trend …
The crypto market has continued its struggle to regain momentum with top tokens constantly hovering close to their important support levels. Furthermore, top memecoins have experienced a similar price action by displaying a mixed price sentiment. However, with the rising volatility, mid-cap and low-cap memecoins show a promising sign of a strong bullish bounce back …