Cryptonews

The term “institutional participation,” those words now echo with an ever-louder resonance, dominating the flows within the cryptocurrency realm. It is as though the entire brotherhood has taken up the cause! On the fifth of November, one Mr. Hougan of Bitwise Asset Management spoke with certainty to the chroniclers of CNBC. He proclaimed, in near prophetic tones, that the institutions have seized control of the market’s destiny, while the foot-soldiers-those day traders in the guise of retail investors-remain in their subdued dormancy.

Will the party last? Well, it all comes down to $0.20. Stay above it, and we might be in for some champagne showers. Fail, and it’s back to the drawing board. 🥂

Not content with watching XUSD turn into digital confetti, USDX politely raised its hand and said, “Hold my algorithm,” before gracefully leaping off its $1 peg on November 6 like a particularly anxious penguin at the edge of an iceberg.

The XRP Ledger, once a ghost town of wallets, now bustles with 21,000 new arrivals in 48 hours-a gold rush of addresses, if you will. 🦑

On the sixth day of November, at the stroke of 12:47 PM CET, Morpho’s grand stage went dark. A cascade of failures! The application, once a marvel, rendered naught but shadows. The backend, aghast, cried for mercy. The indexers, poor souls, lagged behind like tortoises in a race. And yet, eight other functions joined this tragic ballet. 🩰

Observe, if you will, the daily chart-a canvas of despair, where WLD traces its descent with the precision of a melancholic artist. The descending trendline, that implacable foe, has repelled every feeble attempt at recovery, each bounce a mere hiccup in the symphony of supply pressure. Short-term rallies? Mere fireworks in a storm, fleeting and forgettable. 🎆💨

Well, here we are. USDX, a stablecoin that was supposed to be as steady as a rock, decided to take a nosedive. Earlier today, it dropped like a lead balloon, down to $0.3887. This wasn’t the plan. The on-chain tracker, Lookonchain, was there to witness it all and caught the sad story.

The secret sauce? A seven-day ETF inflow streak, the kind of institutional gold that makes bulls tingle with hope. Yet, as every good satirist knows, hope is a fickle muse, and the bears are sharpening their claws 🐆.

Analysts, those modern-day prophets, claim XRP’s strength stems from “fundamentals so robust, they could withstand a nuclear blast.” Ah, yes-Ripple’s pact with Mastercard, a union so sacred, even the blockchain is jealous. And let us not forget the $500m influx, a baptism of institutional interest that would make a snake oil salesman weep with joy.