Cryptonews

The day’s drama unfolded after the SEC-yes, our favorite regulatory comedian-gave the green light to XRP and Dogecoin ETFs in quick succession. It’s as if Washington has finally realized the crypto buffet is more than just Bitcoin and Ethereum, and maybe, just maybe, they’re slightly less allergic to altcoins now. Approvals flashing faster than a meme trend suggest a phoenix rising-possibly from an SEC-approved ash cloud.

XRP, the cheeky scamp, extended its losses below $2.00, just like its posh friends Bitcoin and Ethereum. It even dipped below $1.90 before the bulls, those jolly old chaps, came to the rescue. A low was formed at $1.8177, and now it’s trying to recover with all the grace of a unicycling clown. 🌟

This jolly reversal has put the wind up institutional crypto strategies, what with market conditions being as reliable as a British summer. ☔

A negative premium, you see, is but a harbinger of doom, a sign that the US-based exchanges are drowning in a sea of selling. The institutions, those titans of finance, gaze upon Bitcoin with a mix of disdain and trepidation, their sentiments as fickle as a Russian winter. Analysts, ever the optimists, whisper that a clear bottom may only be found when this trend, so relentless, finally relents. 🧐

NYDIG head of research Greg Cipolaro said in a note on Friday that ETF inflows and digital asset treasury (DAT) demand were key to Bitcoin’s (BTC) last cycle. But now? “It’s like the party ended and everyone left the punch bowl.” 🍹

Somewhere in a dimly lit office, Bitwise CIO Matt Hougan scribbles notes about tokens “getting better” at value capture-like praising a cat for finally considering mouse-catching as a career path. 🐱‍💻 He mentions three tokens in particular:

The Bitcoin ATM firm, Crypto Dispensers, now dangles a $100 million sale like a priest offering a last sacrament. This desperate act follows the DOJ’s indictment of its CEO, Firas Isa, who, one might say, has stumbled into the inferno of money laundering. The company, in a state of existential dread, has summoned advisors to navigate this labyrinth of legal chaos. 🕊️⚖️

Growing momentum around XRP reflects its rising importance across modern crypto and institutional finance, like a moth drawn to a flame-though in this case, the flame is a ledger. J. Ayo Akinyele, Head of Engineering at RippleX, took to the digital pulpit last week to muse that XRP’s increasing use in liquidity, payments, and tokenized settlement has led to a renewed examination of whether native staking could be added to the XRP Ledger. 🧩

On the hourly stage, SEI/USD has been a tragic heroine, descending with all the grace of a fallen chandelier. Breaking through support levels like a bull in a china shop, it finally found a moment’s peace near $0.131. Candles? Smaller than a Coward cocktail. Price action? Sideways, darling, sideways. 🕺 The volatility has flattened, suggesting the sellers have retired for a spot of tea, but the buyers? Still sipping their champagne in the corner, too timid to join the fray. 🥂

Coinbase, ever the dandy of decentralization, has relocated 4.01% of all Bitcoin in circulation-a sum so vast it could fund a thousand tea parties for the Queen of England. These coins, once lounging in P2PKH wallets (a format so last season), now reside in P2WPKH addresses, upgraded with the urgency of a Victorian gentleman swapping his cravat for a bow tie. Btcparser.com, that digital Sherlock Holmes, and Sani, the onchain sleuth, have both flagged this grand maneuver.