Yet, amidst this desolation, a flicker of hope emerges-a potential resurgence, as if the market itself has awakened from a nightmare. Michaël van de Poppe, that enigmatic prophet of crypto, declares this the “longest bear market ever,” yet dares to suggest that the altcoin winter may soon yield to a thaw. A thaw, mind you, that could either save us or plunge us deeper into madness.
Over the year following his release in September 2024, Zhao resurfaced as a government advisor, moved memecoins with X posts (because who needs sleep when you can trend?), and fended off claims by The Wall Street Journal that he was playing cosmic chess with the Trump family and the World Liberty Foundation (a game where the pieces are all named “Billionaire” and the board is a spreadsheet).
But let us turn our gaze to the more grotesque spectacle: XRP, that beleaguered token, has slurped up $84.3 million-nearly 11% of the total! Ah, the whispers of a U.S. spot ETF have cast their spotlight on this institutional phoenix, rising from the ashes of regulatory purgatory. XRP’s YTD tally now stands at $1.9 billion, a testament to its resilience, despite the chains of legal strife. For comparison, Ethereum, that once-proud titan, suffered its first outflows in over a month, hemorrhaging $169 million. And Solana? A mere $29 million, though its yearly hoard remains above $2.8 billion. 🦄💼
The rate of XRP, that enigmatic dancer, has waltzed downward by 0.62% in the past day, a slight but noticeable stumble. 🕵️♂️
Oh, and then there’s Ali on X (formerly Twitter, but who’s counting?), pointing out the obvious: SEI just busted out of its falling wedge pattern after weeks of doing absolutely nothing. The breakout happened around the $0.20 level, a big deal considering it’s been a long time since sellers didn’t have the upper hand. But wait, don’t celebrate too soon-Falling wedges are like that ex who keeps showing up at your door-they usually mark the end of a phase, but can make a comeback. 🙄
Meet the one and only Chris Arakelian, CEO of YouBallin. Chris recently graced the Bitcoin.com News Podcast to talk about how YouBallin is going to upend the status quo.
In a move that’s shocking no one, Circle’s stablecoin settlement network is now cozying up to ClearBank’s cloud-based banking platform. 🤝✨ Institutions can now legally play with stablecoins like they’re Monopoly money-but with better PR! European banks: finally trendy enough for crypto, but only the “regulatory-approved” kind. 😎
Their vaults, once echoing with the clink of digital gold, now host a quieter symphony: 3.2% of all Bitcoin, a hoard so vast it could make Midas blush. But alas, equity premiums have cratered from 208% to 4%, because nothing says “confidence” like begging investors with a 4% markup. 🙃
Crypto exchange-traded products (ETPs) had a lovely $921 million worth of inflows last week, utterly obliterating the $513 million that had slinked out the week before. CoinShares couldn’t contain their excitement, so they shared the news with us on Monday. 🤑
Nate Geraci, a renowned ETF analyst, has hinted that the spot XRP, along with Solana and Litecoin products, are already lined up and ready to launch once Washington returns to its regular schedule. 📅
