Some say revolutions are born in quiet corners, but today’s was sparked by Ripple’s Brad Garlinghouse flinging open the doors of the U.S. Senate Banking Committee. The echoes of overdue legislation ricocheted through the hallowed halls, bouncing off marble and the collective patience of the American people, long bruised by the shrill discord of unclear governance.
But look at how we got here. Last time? Four big green candles. This time? It’s been a grind, slower than the DMV. Two weeks, just crawling up from a $98k “dip.” Apparently, everyone’s developed the patience of a monk. But for how long? Is FOMO about to punch the gas, or is greed about to slam on the brakes and send us into another spinout?
Q2’s returns? +204%, my dear, all apparently courtesy of “real traction”—or as close as one gets in crypto cabaret. Hyperliquid boasted $200 billion in 30-day volume, asserting itself as the prima donna of decentralized perps platforms. 🕺
In other words, get ready to see blockchain-based representations of stocks, bonds, and other real-world assets (RWAs) taking over the crypto world. And guess what? Institutional investors and analysts are already paying attention.
According to the ever-watchful SosoValue, BlackRock has officially crossed the 700,000 BTC threshold—no big deal, right? That’s a whopping $76.35 billion in assets under management. A solid 3.5% of Bitcoin’s total supply. I mean, if we’re talking percentages, BlackRock’s Bitcoin ETF is now lapping Michael Saylor’s Strategy, and only Satoshi’s mythical stash is ahead. BlackRock’s out here flexing. 💪
xStocks, the brainchild of Kraken and Backed, allows individuals to purchase and own tokenized versions of live U.S. stocks and ETFs. Because who doesn’t want to own a piece of America? 🇺🇸 These tokenized stocks will soon be available on BNB Chain, which boasts a whopping 10 billion dollars in total value locked and one of the most active Web3 communities. Not too shabby, if we do say so ourselves. 🤑
First of all, RLUSD is a new stablecoin from Ripple, which has been floating around in the market for a mere seven months and already boasts over half a billion dollars in circulation. Stablecoins are like the magical coins in a video game, pegged to real money such as the U.S. dollar, helping individuals and companies transfer funds more quickly without the fear of price swings that could make a roller coaster look tame.
On-chain data from CryptoQuant reveals that long-term holders (LTHs) are currently sitting on an average unrealized profit of 215% above their cost basis. Historically, when these investors reach over 300% profit, they begin to gradually distribute their holdings back into the market. This places BTC in a zone of orderly profit-taking, not quite euphoria, but with a growing risk of a shift in behavior.
Source – X (because who needs a real source, anyway?) 🤫
Ali, known for his uncanny ability to predict market movements, has once again shared his cosmic insights, this time highlighting XRP’s ongoing breakout and its potential to rocket to $2.60 in the near future. 🚀
