In a stunning twist of fate, Cardano has secured the second spot in Grayscale’s Top 10 Crypto Assets for 1-week returns. It’s like being the second-best contestant on a talent show-still quite impressive! With a 17.7% return over the past week, ADA is only trailing behind Chainlink, leaving giants like Ethereum, Solana, and Bitcoin scratching their heads in disbelief. Talk about a plot twist! 🥳
Bitcoin has decided to throw a party, smashing through the $124,000 mark like a kid on a sugar high. But wait, there’s more! Washington is embroiled in a stablecoin spat that could make your head spin faster than a hamster on a wheel. And let’s not forget Ripple’s legal saga, which has finally reached its dramatic conclusion-think of it as the soap opera of the financial world. Add in a high-profile guilty plea, a shake-up at the White House, and Ethereum ETFs stealing the spotlight, and you’ve got yourself a week worth watching. 📺
It’s trading at a sassy $4,444, just a hop, skip, and a jump away from breaking its all-time high. Talk about a glow-up!
Sal Gilbertie, the sage CEO and Co-founder of Teucrium Trading, stands at the helm of this unfolding drama, proclaiming that the trend of big names and institutions flocking to XRP and other digital assets is merely in its infancy. He waxes poetic about Bitcoin, that illustrious “digital gold,” which still reigns supreme as the storehouse of wealth. Yet, in the grand tapestry of finance, XRP weaves a tale of its own, standing out with its practical use in cross-border payments and financial services. As Ripple continues to forge alliances with banks and payment providers, Gilbertie foresees a day when more investors will awaken to the long-term value of holding XRP. It’s like waiting for the sun to rise after a long, dark night. 🌅
Grayscale proposes an ETF that would hold Dogecoin, allowing investors to play at being crypto moguls without the bother of actually owning the coins. A noble endeavor, indeed! This is the first step in a dance with the SEC, where public companies waltz through the labyrinth of approvals. 🕺
Earlier this year, the Minister of Finance, Enoch Godongwana – a name that surely echoes with authority – declared his expectation that the South African Reserve Bank (SARB) would grace us with this framework. One assumes a fanfare accompanied this announcement. 🎺
Our beloved cryptocurrency, the largest of its kind, briefly flirted with the idea of breaking free from its horizontal prison, only to be met with a barrage of selling pressure that sent it tumbling back to the mid-point of its range. A pivotal moment, indeed! Will it rise again like a phoenix, or is it destined to wallow in the depths of despair? 🤔
In the fortnight past, Ethereum’s valuation, previously languishing at the modest sum of $3,500, has found itself trading with buoyancy within a channel of ascendancy, elevating most charmingly to nearly $4,700. As this letter is written, the currency stands at $4,646, having briefly relinquished a modest 1.72%-a droplet in the ocean, no doubt-to prior gains of 19% over a mere week.
The plan, as reported by the Financial Times (which presumably had to explain what a ‘Bitcoin’ was to several senior staff beforehand), involves hoovering up companies in Asia. Japan first, possibly Hong Kong if they can find a good parking space. The goal? To build a strategically significant pile of Bitcoins. It’s like a national stockpile, except instead of canned beans, it’s…numbers on a ledger. 🧐
A young scholar, one Maartunn (a name which, I confess, does not immediately evoke images of profound economic wisdom), has observed a peculiar phenomenon. He has scrutinized what he calls the “Coinbase Premium Gap” – a rather ungainly phrase, but one which apparently measures the difference in price between Bitcoin traded on the American exchange, Coinbase, and the more cosmopolitan Binance. It seems, the good Maartunn posits, that the Americans are willing to pay a little *more* for their Bitcoin than those worldly traders over at Binance. A curious display of patriotic fervor, perhaps? Or simply a reflection of deeper pockets?
