Из жизни альткоинов

Основатель и генеральный директор аналитической платформы CryptoQuant Ки Янг Джу считает, что сейчас первая криптовалюта находится в фазе накопления, поскольку киты очень активно переводят биткоины на свои кошельки.

Bitcoin is bearish at press time, fading last week’s strong gains. Even though buyers expect prices to recover and break above $69,000, bears have been unyielding, even piercing the upper range of the current consolidation.

At spot rates, Bitcoin is down 6% from last week’s highs and roughly 12% from all-time highs. Contracting prices also mean lower lows from all-time highs, a bearish signal.

Bitcoin Whales Ramping Up Purchase

Despite this confluence of bearish signals, there are hints that buyers are accumulating at spot rates. As prices breach $66,000, the primary support, on-chain data shared by Ki Young Ju on X, points to strength, at least looking at whale behavior.

Though prices might be inching lower, Ju, the CEO of CryptoQuant, notes that whales have been aggressively buying in the past few weeks. Over the past month alone, 358,000 BTC were moved to permanent holder addresses. These wallets tend to HODL and not get shaken off by price volatility, as seen with retailers when prices drop.

Most importantly, these addresses are not associated with spot Bitcoin ETF issuers or miners. So far in July, BlackRock, Fidelity, and other spot ETF issuers, like Bitwise, have bought over 53,000 BTC on behalf of their clients.

The fact that coins are moving to these wallets suggests that whales are confident of what lies ahead and are unwilling to offload their stash, coming at a time when spot Bitcoin ETF issuers are scooping more coins from circulation.

Mt. Gox Distribution Soaked Impressively Well By The BTC Market

Interestingly, whales are gulping more BTC and HODLing just when Kraken, a crypto exchange, had completed their Mt. Gox creditor repayment process. The BTC market was concerned that Mt. Gox distribution would cause a blood bath from late June to early July.

However, looking at events in the past few days, the market seemed to have handled any sell-off well without causing much volatility. In a post on X, Ju said that spot trading volume and exchange flows remain normal on Kraken.

Amid this development, more users are flowing back into the crypto market. The Mt. Gox repayment via Kraken coincides with a marked increase in USDT and stablecoin liquidity. Historically, any upsurge of USDT inflows to exchange has preceded sharp price gains in Bitcoin.

Zoomex, which sprang into the crypto scene in 2021, has swiftly taken the stage by storm. The crypto platform offers a host of cool trading alternatives, on top of its strong security and an easy-to-use interface for newbies and pros. This article examines the prominent characteristics of Zoomex that attract crypto enthusiasts. This piece talks about the best things about Zoomex that cryptocurrency and even finance aficionados will like. 

Simple Interface and Features

Zoomex stands out mostly for its simple UI. While still offering sophisticated features for experienced traders, the platform is meant to streamline the trading process, hence making it accessible for newbies. Users can quickly locate the tools they need regardless of whether they are managing their accounts, making trades, or analyzing charts.

Supporting spot and futures trading, Zoomex accommodates a broad range of trading approaches. Traders trying to diversify their portfolios or protect against market volatility depend on this adaptability. With a latency of less than 10 milliseconds, the platform also exhibits strong fast trading features. This guarantees consumers’ quick execution of deals, which is essential in the fast-paced crypto environment.

Furthermore, Zoomex provides a decentralized exchange (DEX) choice so customers may easily move between centralized and DEX trading. This function improves user control over their assets and fits the expanding trend in DeFi.

Privacy & Security

In a field where security is top priority, Zoomex focuses on safeguarding user money and personal data. The system uses two-factor authentication (2FA) and multi-signature wallets among other sophisticated security features.

• Using Zoomex has a major benefit in terms of no KYC (Know Your Customer) policy. This guarantees a better degree of privacy as users may trade without revealing personal data. The commitment of Zoomex to user anonymity appeals to traders who value privacy as it streamlines the onboarding process and lets users start trading almost right away. Important advantages consist of:
• Privacy and Security: Zoomex values user privacy by excluding KYC certification. This dedication to user anonymity guarantees that your data stays secret and safe, therefore providing a piece of mind for beginners as well as seasoned traders.
• Dedication to Compliance and Security: Zoomex supports strict regulations and security policies. Our DEX helps us to guarantee that every transaction follows current rules, therefore promoting a safe and legal trading environment. There have never been any mishaps thus far; our exchange has a perfect security record.

Experience in Trade and Benefits

Solid liquidity shows that the platform can reliably and strongly make markets. Because our staff are highly-trained and smart, they can ensure top-notch liquidity, which makes trading a breeze. This is crucial for sellers who wish to place huge orders without affecting market pricing.

Zoomex prioritizes client feedback. User reports and polls improve the site. Our platform stands out because it cares about its clients and aims to enhance the trading experience based on real users’ needs.

Global trading competitions (ZWTC), welcome marketing, and special events like World Cup and Euro Cup promotions help Zoomex draw and keep active customers by means of these exciting campaigns. These interesting initiatives not only encourage trade but also make people feel like they’re part of a family.

Zoomex also hosts fantastic events such as Tesla distributions, which increase user involvement even further.

The Zoomex Token

Unlike rivals that started native tokens early on, Zoomex has scheduled the release of its native token with purpose. Discovering and exchanging this new coin in 2024 will prove the platform’s aggressive expansion and innovation. We prioritize user interest and environmental sustainability with this token distribution strategy. 

Client Service, Community Engagement

Zoomex is proud of its excellent customer service. The platform offers 24/7 multilingual support to customers. In the fast-paced cryptocurrency market, where quick help could significantly affect trade outcomes, this support is very vital.

Zoomex keeps developing its platform by listening to customer comments and recommendations, thereby improving the trading experience generally.

Mobile Trading and Extra Tools

Zoomex provides a mobile application fit for both iOS and Android smartphones for traders who would want to monitor their assets on the road. Ensuring a flawless trading experience, the app reflects the capability of the desktop platform. For time-pressed traders, this is a handy choice as users may manage their portfolios from anywhere, make transactions, and track market developments.

Furthermore, the interaction with TradingView gives consumers access to a large spectrum of charts and statistics, therefore improving their trading techniques. In a tumultuous market, this strong instrument enables traders to do in-depth technical study, thereby providing the best guide to their trading strategy.

Additionally included in Zoomex is a Game Center where users may engage in activities meant to provide extra crypto incentives. This creative technique gives the trading experience more fun and dimension.

Your Best Choice

Zoomex is a comprehensive digital currency exchange that supports various types of trading techniques. It’s easy UX and UI, robust security firewalls, and top of the line customer service appeal to novice and experienced traders.

Zoomex distinguishes itself in a crowded market through unparalleled privacy, exceptional liquidity, and outstanding customer service. Experience the difference yourself—test-drive Zoomex today!

Главный юрисконсульт Ripple Labs Стюарт Алдероти пожертвовал 624 000 XRP (около $300 000) на президентскую избирательную кампанию кандидата в президенты США Дональда Трампа.

Международная организация уголовной полиции (Интерпол) объявила в розыск двух криптовалютных промоутеров из Гонконга, которые обвиняются в мошенничестве и отмывании денег через цифровые активы.

This week, spot Ethereum ETFs (Exchange-Traded Funds) were officially approved and launched, filling the crypto community with excitement about the latest industry milestone. The ETH-based investment products saw an impressive first day, reaching over $1 billion in volume. Following its second day live, some experts shared that the ETFs’ day two volume was higher than expected.

Spot Ethereum ETFs Surpass Expectations

On Monday, the US Securities and Exchange Commission (SEC) gave the final nod to spot Ethereum ETFs, setting the launch date to Tuesday, July 23. Before the launch, Industry figures and experts debated the expectations for the ETH ETFs compared to their Bitcoin (BTC) counterparts.

Many considered that the Ethereum-based products would only do about 20%-30% of Bitcoin ETFs. Katherine Dowling, Bitwise’s CCO, highlighted that the highly anticipated ETFs were a “more nuance sell” than BTC’s. This opinion has been shared by others, including American entrepreneur Anthony Pompliano.

The BTC bull recently stated that Ethereum’s story isn’t “as clear” as Bitcoin’s “digital gold” narrative. To Pompliano, this translated to a significant decrease in attention and interest from traditional investors and the media.

After the launch, spot ETH ETFs met experts’ expectations. The second-crypto investment products made about $1.05 billion in volume on its first day, accounting for 24% of what spot BTC ETFs did on day one.

According to Bloomberg expert Eric Balchunas, the new eight ETH ETFs took in $590 million on its first day, representing 83% of what the nine new BTC ETFs did on its first day. This number was a “huge” start for the investment products and surpassed Balchunas expectations.

Despite the massive $484 million outflows from Grayscale’s Ethereum Trust (ETHE), the ETH ETFs registered $107.8 million in inflows on its first day, led by Blackrock’s iShares Ethereum Trust (ETHA) and Bitwise Ethereum ETF (ETHW) respective inflows of $266.5 million and $204 million.

Second-Day Volume Surprises, But Outflows Steal The Show

On its second day, Ethereum ETFs continued to surprise experts. Balchunas pointed out that some ETFs did “about as much or even a little more volume” than the first day. To the expert, this performance suggests a good sign since “a lot of times there’s a sizable dropoff after hyped-up Day One.”

Bitwises’ president, Teddy Fusaro, shared on X that by half the second trading day, the Ethereum ETFs had “traded about $852 million in value”.  In comparison, its Bitcoin counterparts had traded about $1.1 billion.

Fusaro expressed surprise about the number. He stressed that “ETH ETFs are trading about 75% of the notional value of BTC ETFs today,” which was higher than expected. James Seyffart shared a similar opinion, stating that he was “Genuinely surprised by this.”

Nonetheless, Day Two closed its net flow on red numbers. According to Farside Investors’ provisional data, ETH ETFs saw outflows worth around $133.3 million. ETHE registered $326.9 million in outflows, which weighted down the positive net flows from the rest of the Ethereum ETFs.

Per the data, ETHA and ETHW saw significantly lower numbers on Wednesday, attracting only $17.4 million and $29.6 million in net inflows. However, Fidelity’s FETH, VanEck’s ETHV, and Grayscale’s Mini Trust increased their numbers on the second day, with $74.5 million, $19.8 million, and $45.9 million, respectively.

Ultimately, experts consider that Ethereum ETFs’ launch was “very solid” despite registering a 5% volume drop on its second day. Compared to a standard ETF launch, the second crypto-based investment products have exceeded expectations, ranking among the top 10% ETF launches in the last year.

Канал Shibarmy Scam Alerts, оповещающий о случаях мошенничества, рассказал о новой изощренной тактике, которую применяют злоумышленники, чтобы опустошить криптовалютные кошельки потенциальных жертв.

Pro-XRP and crypto attorney John E. Deaton, who won the Republican nomination for Senate in Massachusetts, has emerged as one of the largest crypto holders in the political space ahead of the election, with significant holdings in the largest digital assets on the market. 

XRP  Defender John E. Deaton’s Crypto Holdings Exposed

Deaton, known not only for his legal expertise but also as a Marine veteran, has drawn attention for his ongoing defense of cryptocurrencies, particularly Ripple, amid the blockchain payments company’s fierce legal battle with US regulators over the past few years. 

Ripple, embroiled in a US Securities and Exchange Commission (SEC) lawsuit since 2020 for alleged “securities violations,” has supported Deaton’s campaign with substantial donations, as the Massachusetts state senate candidate has played a key role in the company’s defense.

Nonetheless, Fox Journalist Eleanor Terret brought to light the revelation on Wednesday that a substantial 80% of Deaton’s net worth is tied up in Bitcoin (BTC) or BTC-related investments, alongside undisclosed holdings in Ethereum (ETH), Solana (SOL), and XRP. 

Ripple’s Political Push

The involvement of Ripple, with significant contributions to the Commonwealth Unity Fund, a super political action committee (PAC) established by legal expert and crypto advocate James Murphy, showcases the growing influence over the past year of the crypto industry in the US political race. 

Ripple’s support, which includes $1 million in donations from key figures such as the company’s CEO Brad Garlinghouse and founder Chris Larsen, signals a concerted effort to support Deaton and foster a more crypto-friendly political climate, which has been marked by lawsuits and increasing enforcement actions against key industry players, especially in the past year.

Murphy, known for his insights on crypto enforcement matters under the pseudonym “MetaLawMan,” has articulated a vision of unity and collaboration in Congress, positioning Deaton as a candidate capable of bridging divides in the Senate regarding crypto regulation. 

However, with Warren’s stronghold in Massachusetts, not losing her seat since 2013, and her vocal stance against digital assets, Deaton’s campaign faces financial and ideological challenges.

In addition, the fundraising numbers also position Warren to outpace the Pro-XRP lawyer in contributions, reflecting the uphill battle for the crypto-friendly candidate. Murphy said in a recent interview with Fox:

Now, more than ever, we need unifiers in the Senate. I believe the people are ready to reject the divisive policies and actions of Elizabeth Warren.

At the time of writing, XRP, the sixth largest cryptocurrency on the market, is trading at $0.615, down 1.5% in the last 24 hours, as the crypto market has seen a slight correction led by Bitcoin on Thursday. 

Featured image from DALL-E, chart from TradingView.com 

The Dogecoin (DOGE) outlook is currently bullish, as technical indicators suggest that a golden cross is set to appear on the meme coin’s chart. Based on history, such development could mark the beginning of a massive rally for DOGE. 

Dogecoin On The Verge Of A Golden Cross

Crypto analyst Kevin (formerly OG Yomi) mentioned in an X (formerly Twitter) post that Dogecoin is two to three green weeks away from seeing its first weekly golden cross in four years. The analyst added that DOGE enjoyed a 6-month price rally and price gain of 18,000% the last time the meme coin saw a weekly golden cross. 

A golden cross occurs when the 50-day moving average (MA) rises above the 200-day MA. This technical indicator is considered a bullish signal as it usually indicates a strong bull market. As such, a weekly golden cross for Dogecoin will confirm that an imminent parabolic rally is on the horizon for the foremost meme coin. 

Dogecoin has so far failed to show any significant strength in this market cycle even as other foremost mee coins like Pepe (PEPE) continue to hit new highs. However, crypto analysts like Crypto Kaleo have asserted that the “king of memes won’t be left behind” in this bull run and have predicted that DOGE will still have its moment.  

Crypto analyst Javon Marks also recently provided a bullish narrative for Dogecoin, stating that the meme coin’s most recent pullback looks more like a shakeout and that DOGE is almost ready for a massive rally to $0.6533. Marks claimed that this price target is well in play as DOGE is holding well above the resisting trend. The analyst added that it is only a matter of time before Dogecoin enjoys this price rally of over 378%.

Interestingly, Marks also raised the possibility of Dogecoin further rising to $1.25, stating that a break or hold above the initial price target of $0.6533 will propel DOGE to such heights. 

One Last Pullback Before DOGE’s Run To $1

Crypto Kaleo suggested in an X post that Dogecoin might suffer one last pullback before it runs to $1. He remarked that it is still a “bit early” for DOGE to have that “face-melting pump” based on the previous cycles in relation to the Bitcoin halving event. The analyst, however, added that the pump will eventually happen and called for a bit more patience from DOGE investors. 

As to how low Dogecoin could drop, Crypto Kaleo suggested that Dogecoin suffer a retrace similar to the one after the Spot Bitcoin ETFs launched in January. The analyst, however, claimed that such pullback won’t be that “crazy in the big picture.” 

Interestingly, Crypto Kaleo predicted that Dogecoin could drop to as low as $0.08 before it reaches $1. However, some of his followers disagreed, arguing that it is unlikely to happen considering that $0.08 was a bear market low for the meme coin and the market is still in a bull cycle. 

The Financial Conduct Authority (FCA) has slapped the UK subsidiary of Coinbase – CB Payments Limited – with a $4.5 million penalty for breaking a voluntary agreement meant to stop high-risk customers from being onboarded. The FCA brought to light serious problems with the control systems at CBPL.

Coinbase Crossed The Line

CBPL signed a voluntary agreement with the FCA in October 2020 to limit the onboarding of fresh clients judged “high-risk” by the regulator. This agreement was intended to reduce possible criminal activity on the CBPL platform, therefore preserving market integrity and reducing money laundering concerns.

Notwithstanding these protections, the FCA found that CBPL had clearly violated the agreement by onboarding and servicing 13,416 high-risk clients. Joint executive director of enforcement and market monitoring for FCA, Therese Chambers, slammed CBPL’s management for their notable lack of control.

“CBPL’s controls had significant flaws,” Chambers said, “which the FCA had already noted and which led to the FCA implementing these requirements.” Still, CBPL constantly broke these rules.

According to the FCA’s enquiry, these compliance shortcomings raised CBPL’s criminal activity risk including money laundering. The FCA therefore fined $4.5 million to emphasize its zero-tolerance approach towards regulatory violations endangering market integrity.

The first sanction of its sort, according to crypto litigation attorney Kate Gee of Signature Litigation, was a message for companies to take financial crime management extremely seriously.

Firms who neglect to comply with operating limits in place or who do not do enough to guard against financial crime will face scrutiny and enforcement action, Gee warned.

Impact On Shares

The hefty penalties dealt a blow to Coinbase’s stock. The company’s shares sustained a nearly 2% decline following the news.

At the time of premarket trading on Thursday, July 25, the price was $240.30.

Response Of CBPL

Reacting to the FCA’s results, Coinbase said it committed itself to regulatory compliance and acknowledged the infractions. Coinbase said in a statement that CBPL keeps constantly improving its control systems to satisfy legal criteria, and that the FCA also acknowledged CBPL’s investigative assistance.

The exchange explained that just 0.3% of all new clients from October 30, 2020, to October 1, 2023 were high-risk ones, hence their onboarding was accidental. Coinbase underlined its seriousness over the FCA’s conclusions and its continuous attempts to strengthen control systems to stop further breaches.

Investors and the crypto market will be keenly observing as Coinbase attempts to resolve compliance concerns to see how the business keeps its dedication to regulatory criteria and enhances its control systems.

Featured image from Reddit, chart from TradingView

Lately, the discussions regarding Bitcoin as a reliable strategic reserve asset have garnered significant interest within the entire cryptocurrency industry due to its potential to serve as a hedge against inflation and economic stability. Even though most people see this as a notable idea, some believe BTC is an unreliable choice for a federal reserve asset.

Bitcoin Latter Is An Input Into Real-World Goods And Services

As the topic heats up, Todd Phillips, a popular banking and administrative lawyer, has voiced his strong criticism toward Bitcoin’s potential as a reserve asset. The lawyer’s objections come in light of  United States Senator Cynthia Lummis’ efforts to establish BTC as a mainstream financial asset.

According to a recent report from Fox Business, Lummis is preparing a new legislation that might drastically change the rapidly expanding cryptocurrency industry by requiring the Federal Reserve (Fed) to purchase and retain Bitcoin as a strategic reserve asset.

Fox Business reveals that the US Senator intends to unveil the new bill at the annual Bitcoin Conference scheduled to be held on Saturday, just before former US President Donald Trump’s anticipated speech. Lummis hopes that Trump will support the bill and the concept behind it, should he emerge as the new president of the nation.

Although the bill aims at providing stability to the US dollar and the nation’s capital market, Phillips believes that BTC does not possess the qualities to make this happen.  Comparing BTC to petroleum often regarded as liquid Gold, Phillips claims the digital asset is nothing like the oil. He further noted that the latter part of Bitcoin is an input into tangible products and services, while the former is not an input into anything, suggesting BTC is an unreliable reserve asset. 

The sole reason for making BTC a strategic reserve asset, highlighted by Phillips, is to push the coin’s value higher for those who currently own it. “The purpose of a strategic Bitcoin reserve is simply to require the Fed to buy Bitcoin, sending its price higher for speculators already holding,” he stated.

BTC Is Part Of US GDP

Todd Phillips’ criticism has attracted responses from major figures in the cryptocurrency industry, like VanEck‘s head of digital asset research, Matthew Sigel. Sigel has challenged the lawyer, saying that his objections almost implied that BTC has no intrinsic value. Meanwhile, BTC‘s unique capacity to stabilize the renewable-powered electrical grid, and intangible assets account for 60% of the US Gross Domestic Product (GDP).

He further drew attention to his previous post debunking the argument that the crypto asset lacks intrinsic value, where he listed a few factors that challenge this sentiment. These include an over $800 billion market cap without the help of traditional corporate structures, and being the leading asset of the last decade.

Crypto analyst Mikybull Crypto has revealed the return of a technical indicator that represents a buy signal for Bitcoin. Based on his predictions, the flagship crypto could enjoy a massive rally that could eventually send its price as high as $130,000.

Bitcoin Witnesses “Rare” Buy Signal

Mikybull Crypto revealed in an X (formerly Twitter) post that Bitcoin had just witnessed a rare hash ribbon buy signal. The analyst added that “an explosive rally” follows whenever this happens. Indeed, this is bullish for BTC as the hash ribbon flashing a buy signal suggests that miners’ capitulation might be done or at least has cooled off. 

The hash ribbon indicator tracks the BTC hash rate’s 30-day and 60-day moving averages. The buy signal usually occurs when the 30-day MA crosses over the 60-day MA, as this suggests that the worst of the miners’ capitulation is over and that a recovery in the hash rate has begun. 

Due to the Bitcoin supply they control, miners’ capitulation is known to significantly impact the market and Bitcoin’s price specifically. Bitcoinist reported that these miners sold over 30,000 BTC in June, which led to significant price crashes for the flagship crypto. The Bitcoin halving is believed to have caused these miners to capitulate as their mining rewards were cut in half while dealing with rising operation costs and a downtrend in Bitcoin’s price. 

However, as the hash ribbon indicator suggests, this selling pressure from BTC miners has significantly declined, and Bitcoin could enjoy a massive rise from here on. In line with this, Mikybull Crypto told his followers to get ready for a “massive rally” that could send BTC above $100,000 and to a price target of $130,000, as he had previously predicted.  

It is worth mentioning that crypto analyst James Van Straten also recently noted that miners’ revenue was again close to its 365-day moving average. The analyst explained that this was another way to gauge if miner capitulation was almost over. The analyst added that Bitcoin would continue to trend higher once miners’ revenue can reclaim the $40 million yearly average. 

No Reason For BTC’s Investors To Panic

Another factor that has caused Bitcoin’s investors to panic is the potential selling pressure that could result from Mt. Gox’s Bitcoin repayments. These concerns may have contributed to the recent price correction that the flagship crypto experienced after recovering as high as $68,000. However, on-chain metrics suggest these investors have no reason to panic. 

Crypto analyst OnChainSchool noted in a recent analysis that there has been a significant increase in BTC withdrawals from Kraken after Mt. Gox users began receiving their BTC. The analyst noted that this could be a positive signal as it indicates that these users are choosing to hold rather than sell their crypto tokens. 

Cryptoquant’s CEO Ki Young Ju echoed a similar sentiment, stating that the instant dump market participants expected from Mt. Gox’s creditors didn’t occur. He also suggested that any price drop that Bitcoin might be experiencing is likely due to market sentiment and not Mt. Gox selling.

According to a report by Nikkei, SBI Holdings will establish a joint venture with Franklin Templeton, a prominent US investment management company, by the end of this year. The joint venture aims to explore the investment environment for spot Bitcoin ETFs in Japan and could be a new hope for a spot XRP Exchange Traded Fund (ETF) in the United States.

Franklin Templeton, known for its array of mutual funds and exchange-traded funds, will own 49% of the new company, while SBI Holdings will have a majority stake of 51%. This joint venture aligns with the growing interest in spot BTC ETFs following the US Securities and Exchange Commission’s (SEC) approval of 11 Bitcoin-focused ETFs earlier this year on January 11.

The collaboration is particularly noteworthy due to the potential tax advantages for Japanese investors if Bitcoin ETFs can be traded on the domestic securities market. SBI Holdings revealed that they have received “many requests” from Japanese customers.

The backdrop to this could be that physical Bitcoin is currently subject to a tax rate of approximately 55%, whereas a spot Bitcoin ETF would be taxed at only 20.315% on capital gains, as reported by Japanese news outlet Coinpost. Furthermore, the treatment of Bitcoin ETFs as “transfer income” would allow for the carrying forward of losses and aggregation of gains and losses, potentially netting investors smaller tax bills.

Why A Spot XRP ETF Became More Likely

Amidst these developments, the spotlight also turns to the possibility of a spot XRP ETF. SBI Holdings, a staunch ally of Ripple Labs, has been instrumental in promoting Ripple’s blockchain technology in Asia through their joint venture, SBI Ripple Asia, established back in 2016. This partnership is focused on enhancing cross-border payment systems using Ripple’s technology.

Notably, SBI Holdings has also been a significant supporter of XRP, recognizing its potential to facilitate fast and cost-effective international transactions. In 2018, SBI Ripple Asia led the creation of a consortium with several Japanese banks to leverage Ripple’s technologies for domestic and international payments.

During Ripple’s ongoing legal challenges with the SEC, SBI’s CEO, Yoshitaka Kitao, has been an outspoken supporter of Ripple’s technology. In June, Kitao commented, “If the conclusion is reached and XRP is a coin, I think it will be a very expensive price. If the conclusion (of the trial) is positive, I think the management will immediately go public.”

While the recent announcement does not explicitly mention a spot XRP ETF, the longstanding and deep relationship between SBI Holdings and Ripple Labs could potentially pave the way for such an ETF in the future. Following the approval of spot Bitcoin and Ethereum ETFs in the US, the introduction of a spot XRP ETF could be a bet on Donald Trump winning the US presidential election in November. Given the recent filings by VanEck and 21Shares to launch spot Solana ETFs in June, a similar initiative for a spot XRP ETF by SBI Holdings is not unthinkable.

At press time, XRP traded at $0.6137.

Ripple CEO Brad Garlinghouse wants United States Vice President Kamala Harris to be straightforward on crypto regulation. His comments follow a growing discussion concerning the administration’s digital currency policy and the VP’s withdrawal from Bitcoin Conference 2024.

Many crypto market fans hoped Harris will attend the meeting. They thought it showed her softening on digital currency. David Bailey, the CEO of the world’s biggest Bitcoin conference, disclosed that Harris has decided not to speak at the event.

Kamala Harris Under The Lens

In assessing presidential candidates, Garlinghouse has advocated a break from political bias. His comment followed the observations of Policy Director Justin Slaughter of Paradigm on the possible influence of US Vice President Kamala Harris should she run for president.

Jumping to conclusions and assumptions about candidates purely based on political affiliation without any policy proposals is holding the crypto industry back (similar to how tribalism has for years).

VP Harris is no stranger to Silicon Valley & has an incredible opportunity to… https://t.co/2kmKDZZXJe

— Brad Garlinghouse (@bgarlinghouse) July 24, 2024

Arguing that tribalism and political prejudice have hampered the growth of the crypto sector, Garlinghouse supports a focus on policy ideas instead of political ties.

The remarks of Garlinghouse capture the increasing attitude of crypto leaders who believe that political forces have dominated important policy debates.

“We have to evaluate candidates based on their policy pledges rather than only their party lines,” Garlinghouse said.

This point of view underscores the continuous discussion within the sector on how to negotiate the difficult political terrain that has been, of late, become more intertwined with cryptocurrency.

The Potential Impact Of Harris: A Two-Edged Sword

Slaughter’s most recent X post attracted notice for the major changes Kamala Harris would bring about should she be elected president.

Slaughter claims that Harris is ready to completely replace important national security positions, maybe firing present Biden’s political advisers. This suggested “reformat” has sparked questions over how it would affect US policy on important matters including regulation on Bitcoin and crypto as a whole.

Harris has been the nominee for about 12 hours & she’s already making clear core Biden national security advisors won’t be kept around for another term.

No one in the Biden Admin should be assumed to keep their jobs in a Harris Admin. Odds of a significant reset are growing. https://t.co/vigIDUccgI

— Justin Slaughter (@JBSDC) July 23, 2024

Garlinghouse’s reply to Slaughter’s evaluation exposes both hope and caution. Though he is concerned about Harris’s inclination towards a discourse like that of anti-crypto Senator Elizabeth Warren, he also notes Harris’ broad understanding of Silicon Valley.

This understanding could help to solve the legal obstacles the crypto sector encounters, Garlinghouse said.

Voters On Cryptocurrencies: A Changing Tide

Interestingly, many crypto aficionados have turned to Republican nominee Donald Trump as President Joe Biden’s government, headed by SEC Chair Gary Gensler, comes under fire for strict enforcement policies.

Voters who feel excluded by present rules have found resonance in Trump’s pledges of favorable measures for the crypto industry.

The effect on crypto voters is yet unknown as Harris’s candidature develops. The industry is totally focused on any legislative changes that would either encourage or discourage innovation.

Meanwhile, billionaire Mark Cuban thought Kamala Harris may take a more business-friendly approach to bitcoin and AI. Although not verified, Harris’s advisors say she may be more sympathetic to these enterprises than her prior policies.

All things considered, Garlinghouse’s support of a policy-oriented approach mirrors a larger movement among the crypto community for more complex political assessments. The argument on how best to help the sector among changing political environments develops as the US presidential election draws near.

Featured image from Getty Images, chart from TradingView

Despite the XRP price sluggish growth, market participants remain highly optimistic about its future outlook. Several analysts have forecasted substantial bullish surges for the XRP price, predicting how high the cryptocurrency’s value could go while also identifying key technical indicators and bullish patterns that suggest a potential price reversal. 

Analyst Questions Timing Of The XRP Price Breakout 

A crypto market expert, identified as ‘The Moon Carl’ on X (formerly Twitter), has questioned the timeline for XRP’s potential breakout to new highs. Sharing a price chart depicting XRP’s symmetrical triangle, the analyst observed that the XRP price has been trading within a large symmetrical triangle pattern for more than four years. 

For more clarity, a symmetrical triangle is a unique chart pattern characterized by converging trend lines which form a shape that resembles a triangle. A symmetrical triangle pattern often indicates that a cryptocurrency has been in a period of consolidation and could potentially witness a significant price move upwards. 

In regards to XRP, its price has been fluctuating slightly above $0.5 and $0.6 for months now. The cryptocurrency’s market performance has also been lackluster over the past few years, witnessing its most bullish season in 2018 when it rose to an all time high of $3.84. 

Reflecting on XRP’s symmetrical triangle pattern, another crypto analyst, Alex Clay declared that the cryptocurrency was finally breaking out of the symmetrical triangle pattern after being within it for a staggering 2,227 days. During this time, Clay revealed that XRP has been in a phase of accumulation, where its price remained within the boundaries of the aforementioned triangle pattern whilst also facing legal challenges from the United States Securities and Exchange Commission (SEC).  

Despite the ongoing legal battle with the SEC, Clay has expressed strong bullish expectations for XRP’s future price. He has shared several new price targets for the cryptocurrency, reflecting his confidence and expectations for a forthcoming price. 

Clay forecasts that XRP could reach mid term price targets of either $1.2580 or $1.5700. For his long term target, the analyst anticipates that the cryptocurrency could surge as high as $3.1. 

More Bullish Predictions Set For XRP

At the time of writing, XRP is trading at a price of $0.60, according to CoinMarketCap. Despite the cryptocurrency’s slow price momentum, analysts continue to maintain highly optimistic expectations for XRP’s future value. Notably, a crypto analyst identified as ‘XRP Captain’ has forecasted that XRP could witness a dramatic rise, with a minimum price target of $22. 

Sharing similar sentiments as Clay, XRP Captain based his forecast on the cryptocurrency’s prolonged symmetrical triangle pattern. He optimistically declared that the XRP price is getting ready to explode vertically in the coming weeks, potentially experiencing a bullish breakout to new all-time highs. 

Shiba Inu is close to officially complete the integration of its popular game, Shiba Eternity, with its proprietary layer-2 blockchain, Shibarium. Lucie, the marketing lead for Shiba Inu, disclosed today on X that the Shiba Eternity Web3 upgrade is coming.

Shiba Inu’s Shib Eternity Goes Web3

Lucie describes this upgrade as a significant evolution for the game as it introduces new features and blockchain-based dynamics. “Unleash your inner alpha in Shibatopia arena: Shiba Eternity’s Web3 upgrade is here, featuring ranked tournaments and blockchain-backed card battles,” Lucie announced.

The transition of Shiba Eternity to Shibarium is turning the digital cards into web3 assets. “Shiba Eternity evolves with Web3 integration, transforming digital cards into unique assets on Shibarium,” Lucie remarked. These assets are now tradable and can be showcased, which adds a layer of collectibility and tradeability absent from the game’s previous web2 version.

The new structure of Shiba Eternity also introduces a systematic competition framework. Players start their journey as White Belts and aim to climb the ranks to Grandmaster status within cycles lasting 15 days. Each cycle includes 14 divisions, with players earning points for victories and losing points for defeats, mimicking the progression and ranking systems found in traditional competitive games.

As part of the upgrade, cards earned during gameplay are minted as NFTs directly on Shibarium. This process grants players ownership rights over their digital assets, allowing them to trade, sell, or hold their cards as they see fit.

Furthermore, the game features over 10,000 unique Shiboshis heroes, each equipped with special abilities. These heroes serve as the central figures in each player’s deck, determining the flow and strategy of gameplay.

Thus, Shiba Eternity now involves a more complex gameplay structure where players must carefully build a 30-card deck and strategically manage their “Bark” pool, which functions similarly to mana in other collectible card games. The use of Bark allows players to execute attacks, defenses, and special abilities. The objective of the game is to strategically outplay the opponent, leading their stamina to drop to zero, which secures victory.

Angel, the lead for Shiba Inu Games, commented on the new ranked mode’s competitive and rewarding aspects. “Our new ranked mode aims to keep your competitive spirit alive as you play Shiba Eternity. Battle your way from White Belt to Grandmaster and your grit will be met with rewards.”

Furthermore, top players from the ranked tournaments qualify for seasonal tournaments that promise even greater rewards. “Top contenders of the 15-day tournaments will receive invitations to Seasonal Tournaments, with even more impressive prizes. We’ll share more details on this as we go about the Beta,” Angel added.

Lucie concluded the announcement with an invitation to the Shiba Inu army: “Shiba Eternity transitions from a Web2 collectible card game to a Web3 powerhouse, offering ranked tournaments, NFT minting, and strategic gameplay. This evolution ensures player ownership and pushes the boundaries of blockchain gaming. Ready to dominate the digital battlefield in Shibatopia? The gates are open, and the challenge awaits.”

At press time, SHIB traded at $0.00001639.

Президент Центрального банка Бразилии рассказал на конференции Blockchain Rio о проблемах, с которыми сталкивается главный финансовый регулятор при внедрении цифрового реала и рассказал о планах токенизации национальной банковской системы.

Аналитики американской инвестиционной компании VanEck рассказали о сценариях, которые будут влиять на первую криптовалюту до 2050 года. По мнению экспертов, при самом оптимистическом варианте стоимость биткоина может достичь $52,4 млн.

Цифровой банк Revolut, принадлежащий одноименной финтех-платформе, получил в Великобритании лицензию, которая позволит оказывать полный спектр банковских услуг девяти миллионам местных клиентов.

Генеральный директор издания Bitcoin Magazine рассказал о некоем крупном спонсоре Демократической партии, который сказал, что кандидат в президенты США считает биткоин «деньгами для преступников».