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Ethereum [ETH], that darling of decentralized dreams, has found itself in the clutches of corporate whales—though not the ones you might expect. No, these are not the Googles or Microsofts of the world but rather two entities whose names evoke visions of bingo halls and basement tech startups.
XRP Community: “Can We Get a Yes or a No, Karen?”
Ethereum, that curious digital phantom, flirts once more with the elusive four thousand mark. Investors, bless their naive hearts, are placing bets, anticipating… what? A rally, they say. As if the market possesses a discernible logic! 🤦♂️
Apparently $260 million wasn’t enough to buy happiness, so they’re tossing another $100 million at StablecoinX (which sounds like a mediocre energy drink) and “operational expenses” (read: avocado toast budgets for the dev team).
Per Bit Origin’s official statement, they bought DOGE at $0.2466 per token, now hoarding over 40 million. They even invented a new metric called DOGE-Per-Share (DPS), clocking in at 0.691. Because nothing screams “institutional-grade” like a number that’s basically a wink to the universe.
The company, in a move as theatrical as Wilde himself, filed for an IPO offering 5 million shares of its “Variable Rate Series A Perpetual Stretch Preferred Stock” (STRC Stock). Each share comes with a $100 price tag, aiming to raise approximately $500 million before expenses. One can only imagine the champagne corks popping in boardrooms worldwide. 🍾
Wilfred Daye, the Chief Strategy Officer, proclaims with a wink and a nod that Mercurity is no longer just a blacksmith forging fintech tools. Nay, it is now a knight errant, wielding SOL tokens as its sword and validator nodes as its shield. 🛡️ The treasury shall grow, not by mere accumulation, but by the alchemy of staking and the magic of yield. And what of tokenized assets? Ah, those are the jewels in the crown, the prizes of a DeFi realm ripe for conquest. 🏰
Let’s break it down, shall we? Weekly inflows reached an all-time high of $4.39 billion. Yes, you read that right—billion. That’s enough money to buy several small countries or at least a very large island with a moat. This brings the Year-to-date (YTD) inflows to a staggering $27 billion, pushing the total Asset Under Management (AUM) in the crypto market to a record $220 billion. Last time we saw anything close to this kind of cash tsunami was back in December 2024. And folks, if that doesn’t scream “bull market,” I don’t know what does. 🐂
According to the latest whispers from the digital salon, courtesy of the ever-so-elegant analytics firm Alphractal, the once-tight bond between Bitcoin and its lesser-known admirers is beginning to fray. The correlation, a measure of how much these assets move in unison, has taken a nosedive, plummeting from a near-perfect 1 to a rather chilly zero, and even dipping into the negatives. How shocking! 😱
The IPO will (maybe) happen once the SEC finishes their homework and the market is feeling fancy-free 🌟. BitGo is following in the footsteps of Grayscale and Bullish, because who doesn’t want to be part of the cool crypto club 🤩?