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? 😏
Anyway, it seems that JPMorgan, Chainlink (LINK), and Ondo Finance (ONDO) recently completed a crosschain Delivery versus Payment (DvP) test transaction. I have no idea what that means, but it sounds impressive. And it got me thinking: could this convergence of TradFi and DeFi be the key to LINK’s success? 🤔
Earlier this week, XRP started a new uptrend, breaking past the $3.02 resistance zone. It’s like when you finally get that stubborn jar open, and now it’s just cruising. The rally gained some serious steam after settling above $2.840, which is like when you finally get that last piece of gum out of your hair. Currently, XRP is holding well above $2.95 and the 100-hour Simple Moving Average, which is a fancy way of saying it’s got some serious support. 📈
The pièce de résistance of the summit was, undoubtedly, the seven deep-dive panels, featuring an impressive array of speakers from Square Enix, Sega, Shueisha, Sony Group, Konami, Japan Financial Services Agency, and IVC portfolios – Aethir, Delabs, CARV, MOVE AI, AKA Virtual, GAIB, and JPYC. These erudite individuals shed light on Asia’s burgeoning role as a key driver in the new digital paradigm, where utility and decentralization converge to create a profound global impact. 🌐
But wait, there’s more! Ethereum, the dashing and debonair asset of the digital realm, has taken the crown with a reserve ratio of 170%, the highest among the major digital assets held by BTCC. It’s like the star of the show, always ready to steal the spotlight. Other notable reserve ratios include:
So, about that record-breaking deal? Oh, it perfectly lines up with a massive uptick in the excitement for BlackRock’s shiny new toys: the Ethereum ETF and the iShares Ethereum Trust (ETHA). On July 16, ETHA was literally popping off with $499.25 million in new money flowing in. It’s basically the Beyoncé of ETFs right now, strutting its stuff with net assets ballooning to $7.73 billion. 🌟
But wait, the fun doesn’t stop there! Momentum isn’t just returning to Solana’s price chart; it’s showing up in the developer metrics, too. According to fresh data from SolanaFloor, daily token launches on the network just hit a two-month high, with over 53,000 new tokens created on July 16 alone. This is like a festival of innovation, where every new token is a new dance, and the Solana chain is the grand ballroom. 🎉
As a result of the price uptick, Marketcap hiked 18.8% to $1.47 billion, while trading volume rose 95% to $465 million. Typically, when market cap and volume surge in tandem, it reflects strong capital inflow. But in this case, it might just be a lot of hot air. 🌬️
