Now, what’s the deal with this letter, you ask? It’s not just a glorified autograph; it’s a pact to exchange wisdom on all things Bitcoin in the public sector, blockchain-powered financial wizardry, and, of course, crafting policies for markets that are still stumbling around trying to find their feet. Because who doesn’t need a little help when playing with digital gold? 💰
Algorand (ALGO), a protocol that prides itself on solving the rather thorny issue of proof of staked centralization through its Pure Proof-of-Stake consensus model, has long relied on Hex Trust for its web3 custody needs. Now, the two are taking their relationship to the next level, much to the delight of those who find blockchain technology as thrilling as a good game of bridge. 🂡
The recent correction in Injective (INJ) seems to be stabilizing, much like a weary traveler finding a comfortable spot to rest. The price is now consolidating into a bullish pennant formation, with high time frame support at $9.19 being respected like a sacred boundary. This signals potential accumulation, as the market pauses, perhaps to catch its breath, before a possible breakout. 🌪️
Ah, the grand spectacle of Bitcoin finds itself in a dance with selling waves near the fabled $120,000 threshold, hinting at a rather casual phase of consolidation.
And lo! The filing arrives amidst a growing hunger from the institutional giants, with Injective earning the endorsement of illustrious behemoths such as Google Cloud and T-Mobile—very upscale company indeed! This comes in the wake of Injective Labs throwing themselves at the SEC, demanding some reasonable attention on DeFi regulation policy because, why not? 😜
The U.S. jobless claims fell to a 3-month low on Thursday, and a whopping 44 companies outperformed their quarterly estimates this week. Stocks saw a lovely uptick, but bitcoin (BTC) didn’t seem impressed. It just sat there, flat as ever, as altcoins waltzed in with gains and bitcoin’s market dominance slipped below 63%.
24h volatility: 0.1% 📊
Market cap: $160.06 B 💸
Vol. 24h: $131.90 B 📈
to become the third-largest cryptocurrency by market capitalization. As of writing, the coin was priced at $3.248, up 9.57% in 24 hours. Because, you know, XRP is on fire 🔥.
In an earlier report, Coinspeaker stated that Ripple has also applied for a US national banking license with the Office of the Comptroller of the Currency (OCC). Because, you know, being a bank is cool 🏦.
Meanwhile, a Nasdaq-listed Chinese firm, Webus International, has committed $300 million toward building an XRP treasury. If anything, Chris Larsen’s strategic asset movements highlight the evolving landscape for XRP and Ripple, as both entities continue to shape the global digital currency space. Because, you know, the future is now 🕰️.
Bitcoin, the flagship cryptocurrency, was up nearly 1% in the past 24 hours, recovering from a low of $117,771 earlier in the session. It had reached $120,000, but lost momentum, slipping below $118,000 before moving to its current level of $118,759. Meanwhile, Ethereum was on an absolute tear, surging past $3,300 and up over 7% at the time of writing. 🤯
What accounts for this magnificent ascent? A whimsically shifting landscape of U.S. crypto regulation has favored XRP, much like a benevolent czar granting privilege to favored subjects. Meanwhile, as the world of macroeconomics encourages risk assets, equities frolic under the sun of newfound highs, adding to the raucous jubilation. 📈
It seems that Strategy’s bold bet on Bitcoin (BTC) has paid off, and investors are clamoring to buy into its stock. As the saying goes, “fortune favors the brave,” and Saylor’s bravery has certainly been rewarded. 💸 The company’s recent accumulation of 4,225 BTC has taken its total holdings to a staggering 601,550 BTC, valued at over $73.24 billion. Not bad for a company that used to focus on business intelligence and software, eh? 😏
