Key Takeaways XRP currently trades between $1.09–$1.10, marking approximately 10% weekly losses and 20% monthly declines Market-wide cryptocurrency downturn sparked by Bitcoin dropping beneath $65,000 pressured XRP lower Continuous XRP spot ETF accumulation for seven consecutive weeks hasn’t reversed the bearish trajectory Technical signals point to sustained bearish pressure, with price action beneath the 50, 100, and 200-day exponential moving averages Luxembourg’s financial authority granted Ripple conditional preliminary CASP licensing under MiCA regulations XRP exchanged hands near $1.09 during Tuesday’s session, reflecting roughly 5% intraday losses. The digital asset has surrendered over 10% across the trailing seven-day period and approximately 20% throughout the past thirty days.
XRP Price The downturn materialized after bulls failed to penetrate the $1.30 ceiling. Following this rejection, bears seized momentum and drove valuations back toward the $1.00 threshold that has previously provided support during recent weeks.
Daily trading volumes expanded approximately 10% to reach $1.48 billion based on CoinMarketCap data. The mid-June recovery has evaporated completely, with bearish candles dominating 18 of 26 trading sessions throughout the current month.
Wider cryptocurrency market dynamics contributed significantly. Bitcoin‘s descent below the $65,000 mark catalyzed approximately $700 million in forced liquidations system-wide, predominantly affecting leveraged long positions. Given XRP’s high-beta characteristics, the token experienced amplified downside pressure compared to many peers.
Macroeconomic headwinds compounded selling pressure. Investor expectations have reversed from anticipating interest rate reductions to now pricing in potential hikes following the latest Federal Reserve policy announcement. This shift strengthened the US dollar while triggering capital flight from speculative assets including cryptocurrencies.
Geopolitical uncertainties further dampened market sentiment. Conflicting developments from US-Iran diplomatic discussions in Switzerland introduced additional ambiguity. The cryptocurrency Fear & Greed Index plummeted to 23 on Monday, indicating Extreme Fear conditions.
Institutional Flows Remain Constructive Institutional accumulation has persisted despite declining spot prices. XRP-focused spot exchange-traded funds captured approximately $5.31 million in net inflows on June 22, with Bitwise leading contributions. This extends a seven-week streak of uninterrupted positive flows, pushing monthly aggregate inflows beyond $29 million.
Total cumulative ETF inflows have reached $1.45 billion, while assets under management average $993 million per SoSoValue analytics. XRP holdings on centralized exchanges have contracted to multi-year lows as tokens migrate into ETF structures and cold storage solutions.
Market analyst ChartNerd highlighted on X platform that historical XRP performance data reveals recurring seasonal weakness during June-July periods coinciding with US midterm election years, referencing 2018, 2022, and projecting 2026 as comparable configurations. The pattern traditionally features volatile sideways movement preceding sharp corrections, with anticipated rebounds emerging post-summer.
Historical $XRP data shows consistent seasonal weakness in June/July during U.S. midterm years (2018, 2022, 2026). The pattern: choppy consolidation followed by sharp drops within this window. 2026 has mirrored this exact setup. My eyes are set on a post summer recovery/rebound. https://t.co/TSBmA0gtiG pic.twitter.com/RwDGl2XBjB
— 🇬🇧 ChartNerd 📊 (@ChartNerdTA) June 23, 2026
Chart Analysis XRP maintains positioning substantially beneath its 50-day, 100-day, and 200-day exponential moving averages located at $1.25, $1.35, and $1.56 respectively. The Relative Strength Index oscillates between 37–40, confirming subdued bearish momentum. The MACD histogram hovering near neutral territory suggests potential stabilization without confirming reversal.
Immediate support emerges at the lower Bollinger Band positioned at $1.07. Penetration of this level would expose the $1.05 zone, followed by the psychologically significant $1.00 threshold.
Resistance barriers appear sequentially at $1.15, $1.22, and $1.25. Aggregate futures open interest currently registers $2.69 billion, marginally elevated from the previous session’s $2.55 billion.
Ripple secured conditional preliminary authorization for a Crypto Asset Service Provider license from Luxembourg’s financial supervisory authority under the European Union’s Markets in Crypto-Assets regulatory framework on Tuesday. The approval remains provisional pending fulfillment of supplementary regulatory requirements.
In brief Altcoins fell with bitcoin yesterday—but, like BTC, are showing modest recovery today. The biggest winner of the day was Contentos's COS, which saw its price pump 158%. Most other coins in the top 200 say modest single-digit boosts. When bitcoin sneezes, altcoins get the flu. That’s probably a bad joke to make right now, but you get the point: As goes the market for bitcoin, so go the thousands of other cryptocurrencies whose fate is pegged to the mother of all blockchains. And, with BTC itself falling 10% yesterday alone, it was hardly surprising that the market cap for crypto overall dropped $40 billion from Saturday through Monday.
But now that the market appears to be recovering a bit, so are altcoins, with the vast majority of the top 100 seeing modest gains. The big winner of the day (at least in the top 200 coins on CoinMarketCap) was Contentos. The content-management system’s native token, COS, is on the Binance Coin platform and enjoys a $36 million market cap, making it the 107th most valuable coin. Today, it saw a 158% pump—to $0.03.
Who knows why! But hearty congratulations, to the Contentos whale, from the entire Decrypt team...
A fine day for Contentos via Coinmarketcap.comElsewhere, gains were far less spectacular. We took a look at some of the better known altcoins to see how they’re doing. (The numbers next to them represent their ranking on CoinMarketCap).
Coronacoin (NCOV) #N/AIf any altcoin should be benefiting from the ravages of covid-19, it’s the Coronacoin. Yet it isn’t listed on CoinMarketCap, and it’s so low on CoinGecko, we couldn’t find a ranking associated with it. The NCOV token allows traders to bet on the new coronavirus epidemic, and it’s stumbling. In the last 24 hours the token saw a 25 percent drop in price, according to CoinGecko.
At the end of February, NCOV was $.03. It was $.0015 when I looked early today. Oddly, the value of the altcoin is supposed to increase when people die, because the networks proportionately burns coins. But all that Corona death isn’t helping the price, apparently.
Still, Sunny Kemp, a Coronacoin developer, maintains his sunny optimism. “The project is doing great,” he told Decrypt via a chat in Telegram. According to him, the alcoin was recently listed on two (obscure) exchanges—Altmarkets and Satoexchange—and the project made its first RedCross donation for $235. (The project is not as cynical as it sounds, and allocates 20 percent of its NCON supply to the non-government agencies every month.)
Fans of its gallows humor will be heartened to hear that, to boost the sihitcoin's price, the team is working on a new morbid game that will put the token to use. The game is similar to Pandemic for Android, where the player creates a pathogen in an effort to annihilate the human population.
“You create a virus and infect countries. The rate of infection and severity of the virus is dependent upon how you engineer the virus,” Kemp said in describing how it works. His team even consulted a biomedical researcher to design the game, he said.
But as to the dismal price of NCOV, he wouldn’t comment. “I cannot comment on price, we are not a security, $nCoV is a utility token,” he said.
Cardano (ADA) #12 Cardano was started by Charles Hoskinson, the ex-CEO of Ethereum. The network launched in October 2017, and in January 2018, when its native token peaked at $1.25, ADA owners were a happy bunch. The token went on to plummet to $.15 later in the year. After that, it saw a few hopeful pumps and now it’s tooting along at $.05.
To be fair, the total circulating supply of ADA is about 26 billion, so even though they aren’t worth much, there’s a hefty number of them. Hoskinson argues that based on the initial coin offering, which brought in $64 million, ADA is still good value for investors.
Still, the big question is, when will the Cardano project be decentralized? It has been centralized since its launch in September 2017. Speaking to Decrypt on the phone from his Colorado farm last night, Hoskinson said that will happen when the project transitions from Byron to its Shelley release sometime later this year. Shelly was originally slated to come out in 2018.
In defense, he said: “It’s always been a five year project from the beginning.”
Ethereum (ETH) #2Second only to bitcoin in marketcap ETH, the native token of the Ethereum blockchain, had been on a bit of a roll lately. At least it was until mid February when ETH was at $257. Since then the price dropped slowly—until yesterday when it plunged below $192. It's back up to $201 today.
Hedera Hashgraph (HBAR) #41Hashgraph falls into the category of “mathcoins.” Similar to other mathcoins, such as Maidsafe, Nano and IOTA (we’ll get into the latter two in a minute), the project promises a consensus mechanism that will solve all the problems of bitcoin’s energy consuming proof-of-work with clever new mathematics. And like some of the other mathcoins, Hashgraph doesn’t even use a blockchain. It uses a “hashgraph” instead.
At the same time, it still makes all the tantalising promises of cryptocurrency, including a decentralised censorship-resistant network with fast, secure and cheap transactions, but sans the headaches of PoW.
In mid-February, after Hashgraph announced that Google would be joining its high-profile governing council, the price of HBAR shot to above $.05 for the first time since the network’s launch in July 2017. Now it is sitting at below $.05 again.
Nanocoin (NANO) #58Billed as “digital money for the real world,” Nanocoin (formerly RaiBlocks) is another mathcoin that employs all kinds of mad scientist technology. It uses “directed acyclic graph architecture” and employs its own “block-lattice architecture,” which means every individual is assigned their own blockchain.
None of that has helped the price of the NANO, which flatlined in recent months. At its highpoint in January 2018, the altcoin was worth $34. Although it hasn’t tumbled as far as others in the recent dip, it was at $.70 today.
Communications Manager Andy Johnson, shrugged off the recent change in price. “Volatility is a symptom of the nascent cryptocurrency industry,” he told Decrypt via email.
He assured us that the project is well provisioned. “Early caution ensured that we have been able to maintain a razor-sharp focus on our goals and equipped with the resources to refine the protocol and build out the surrounding ecosystem,” he said.
The project claims it is decentralized, but it also uses proof-of-stake, which means that the largest bagholders control consensus. One of them is crypto exchange Binance, which trades about 30% of the volume.
IOTA (MIOTA) #24IOTA is proof that a network doesn’t need to be operational for an altcoin to go up in price.
Similar to Nanocoin, IOTA runs on a DAG. IOTA is not decentralized—it’s network relies on a central coordinator node, which it shut down on Feb. 12, after its Trinity wallet was hacked.
(The project didn’t say how much was lost, but IOTA founder David Sønstebø recently said he was paying back users $2 million with his own funds.)
The big task for the project is getting rid of the coordinator node—or “coordicide,” but it isn’t there yet—and hasn’t been since it launched its mainnet in July 2016.
Shutting down a network is unusual because cryptocurrencies are by nature supposed to be unstoppable, but this one apparently isn’t. The IOTA project promised it would spin the network back up Tuesday, after being turned off for nearly a month.
Despite the network literally being shut off—and a lot of other ongoing drama in the project—though it has dropped from $.03 in early February, the price of IOTA coin actually went up 4% earlier today, to nearly $.02, according to CoinMarketCap. That might lead one to the conclusion that nothing can kill a zombie altcoin.
Ripple (XRP) #3Ah, Ripple, the platform people love to hate as being a wold in crypto's clothes. Though it has a total supply of $99 billion, most XRP is in the hands of Ripple, which currently has $54 billion in escrow. (The platform unlocks $1 billion each month and sells it.)
Our good friend XRP saw a steady decline in price last year, sinking from $0.35 in early 2019, down to $0.25. In the past few days, it dropped a few more cents to $0.21, where it currently resides—up nearly 3% in the past 24 hours.
Tether (USDT) #5Tether is everyone’s favorite fictional trading reserve. Pegged to the U.S. dollar, USDT is the essential source of liquidity in the crypto trading markets. Every 24 hours, the entire $4.6 billion supply of tethers sloshes around 11 times. Though right now, tether is $0.99, it’s known to slide at times. Like in April 2017 when it lost its peg and dropped to $0.91. Who knows what could happen if we ever learn the real story of what’s behind those tethers.
Disclaimer
The views and opinions expressed by the author are for informational purposes only and do not constitute financial, investment, or other advice.
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The expected launch of REX-Osprey XTP ETF today and the anticipated approval of other XRP ETFs next month have boosted investors’ sentiment. However, XRP whales are betting against the ETF hype and continue to liquidate their holdings, on-chain data confirms.
Whales Offload 40 Million XRP: Santiment Big whales holding 10 million to 100 million XPP sold 40 million coins over the last 24 hours, according to Santiment data on September 12. Whales continue to liquidate their holdings worth millions in the last few weeks, maintaining their negative sentiment.
Whales XRP Coin Transactions. Source: Santiment The uncertainty surrounding spot XRP ETF approval by the U.S. SEC and muted trading volume have also delayed the much-needed XRP price rally. The SEC recently delayed the Franklin Templeton XRP ETF, one of the several ETFs in line for approval.
Moreover, Whale Order and Large Trades data on the K-line chart indicated massive sell orders above the 3.05 level in every spot and perpetual pairs at Binance, Coinbase, and OKX.
Also, whales have opened short positions between $3.3 and $3.6, which will make it difficult for bulls to continue upside despite the REX-Osprey XRP ETF launch today. The ETF may not witness enough demand from institutional investors, similar to REX-Osprey Solana + Staking ETF (SSK), which has recorded $205 million in total inflows since its launch last month.
Whale Order and Large Trades On-Chain Data Reveals Whale Flow Remains Negative Whale flows are still extremely negative as XRP faced renewed distribution pressure, similar to earlier this year. The ATH price top coincided with sustained whale distribution and a subsequent correction.
CryptoQuant’s XRP Whale Flow 30-DMA data signals extreme selling amid negative sentiment among XRP whales persists. This comes after more than 99% long-term holders were in profit, which triggered massive selloffs and caused XRP price to fall to $2.70 amid seasonality and market peak concerns.
Whale Flow 30DMA Source: CryptoQuant XRP price jumped more than 1% in the last 24 hours, with the price exchanging hands at $3.05. The intraday low and high were $2.98 and $3.07, respectively. Trading volume climbed over 40% in the last 24 hours.
Moreover, Coinglass data revealed total XRP futures open interest dropped in the last 4 hours, after climbing almost 4% to $8.65 billion in 24 hours. CME, Binance, OKX, and other exchanges recorded selloff by derivatives traders.
Ripple has taken a bold step in its global expansion strategy by launching its US dollar-backed stablecoin, RLUSD, for Turkish users. Through new strategic partnerships with local crypto platforms BiLira, Bitexen, and Bitlo, Ripple is making the stablecoin directly accessible to Turkey’s dynamic institutional finance ecosystem—a market already noted for its high crypto adoption rates.
Corporate access in Turkey expandsTurkey’s unique position bridging Europe, the Middle East, and Central Asia, coupled with high levels of inflation and currency volatility, has made digital assets particularly attractive to both individuals and businesses. Crypto adoption goes well beyond just a hedge against value loss—digital currencies are now widely used in cross-border transactions and payments. The nation’s annual crypto transaction volume is estimated to be around $200 billion, highlighting the size and activity of the Turkish crypto market.
Ripple, based in the United States, has built a reputation for delivering innovative blockchain-powered payment and digital asset solutions. Its corporate-grade, compliance-focused RLUSD stablecoin was designed to offer transparent, dollar-pegged liquidity within regulatory frameworks. Launched in 2024, RLUSD’s market capitalization recently reached an all-time high of $1.88 billion, underlining surging demand.
Sinan Koç, co-founder of BiLira, emphasized that their collaboration with Ripple reflects a shared commitment to regulatory compliance, describing RLUSD as a strong asset for clients entering a new era in finance.
A new channel for payments and tradeBy leveraging the distribution capabilities of BiLira, Bitexen, and Bitlo, RLUSD has become far more accessible to Turkish institutional users. This logistical leap means firms active in international trade, remittance, and digital payments can now tap into RLUSD liquidity—sidestepping traditional, slow, and often costly cross-border banking protocols. The enhanced access is expected to speed up settlements and simplify liquidity management, a significant draw for finance teams.
HeadlineDescriptionNew partnersBiLira, Bitexen, BitloRLUSD launch year2024RLUSD market cap peak$1.88 billionTurkey annual crypto trading volumeApprox. $200 billionAcademic engagement broadens local footprintRipple’s plans for Turkey extend beyond market access. Istanbul Technical University, one of the country’s leading academic institutions, has joined Ripple’s University Blockchain Research Initiative (UBRI). The partnership is set to fund research programs, graduate scholarships, and the implementation of an on-campus XRP Ledger validator, marking a significant move towards building blockchain expertise in Turkey’s academic circles.
Mini Glossary: UBRI is Ripple’s global academic research initiative partnering with universities. An XRP Ledger validator helps verify transactions and maintain the integrity of the blockchain ledger.
Ripple’s expansion in Turkey is not only about geographical growth, the company also aims to establish a regulatory-compliant digital dollar infrastructure in markets with high crypto adoption, according to statements in the news.
With these new collaborations, Ripple is solidifying its presence in Turkey, gaining visibility in both the corporate sector and academic environments. The growing synergy between active blockchain infrastructure and Turkey’s vibrant talent pool could lay the foundation for next-generation digital finance systems in the country.
Industry experts view these developments as pivotal, especially as international companies and local players seek safer, faster, and more accessible stablecoin solutions. The focus on compliance and clarity is expected to boost institutional trust, spurring further adoption of digital dollar alternatives in the region.
In the context of economic uncertainty and rapid technological transformation, Ripple’s expansion arrives at a time when Turkish companies are increasingly prioritizing efficient capital movement and risk management. RLUSD’s design, emphasizing transparency and regulatory fit, addresses those exact needs.
Market observers note that Turkey could soon become a model for other emerging markets, where high inflation and volatile currencies drive demand for stable digital solutions. By investing in research as well as infrastructure, Ripple is betting on sustainable, long-term growth in the region.
The rollout of RLUSD, supported by crucial local partners and academic backing, positions Ripple at the forefront of a new wave of institutional digital finance in Turkey, potentially reshaping the landscape for years to come.
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.
Ripple has made its US dollar-backed stablecoin, RLUSD, available to institutional investors in Türkiye through new partnerships with BiLira, Bitexen, and Bitlo.
02.06.2026 - 11:34
Update: 02.06.2026 - 11:34
Ripple, which won its legal battle against the SEC in the US and is making rapid strides in its global expansion, has made a move towards Türkiye.
Accordingly, Ripple will support its RLUSD stablecoin in Türkiye.
Ripple announced it has partnered with Turkish companies such as BiLira (the issuer of TRYB), Bitexen, and Bitlo to support its dollar-pegged stablecoin RLUSD in Türkiye.
At this point, Ripple has made its US dollar-backed stablecoin, RLUSD, available to institutional investors in Türkiye through new partnerships with BiLira, Bitexen, and Bitlo.
This will enable Turkish institutional investors to access institutional-level US dollar liquidity using RLUSD.
This move is part of RLUSD’s broader international expansion, which is of great importance to Ripple.
Ripple stated that Türkiye remains one of the largest cryptocurrency markets in the MENA region. Based on Chainalysis data, the company noted that the country has an annual cryptocurrency trading volume of approximately $200 billion.
Jack McDonald, Ripple’s Senior Vice President of Stablecoins, stated the following:
“RLUSD has rapidly gained momentum in financial use cases, serving as a vital bridge for payments, tokenization, and collateral management. With institutional demand increasing globally, launching in Türkiye marks a milestone in our expansion. Turkey is situated at the intersection of traditional finance and the digital economy and boasts one of the highest cryptocurrency adoption rates in the world. By providing a transparent and fully regulated, stable, USD-backed asset, we enable Turkish businesses to access global liquidity.”
*This is not investment advice.
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Bitcoin (BTC) has been incurring a significant amount of upwards momentum as of late that allowed it to put an end to the month-long bout of selling pressure it has faced over the past month, which has also allowed it gain significant dominance over the aggregated crypto market capitalization.
Furthermore, data shows that Bitcoin has been dominating trading volume on major exchanges like Coinbase, which signals that traders are not currently interested in altcoins and are primarily focused on pouring their capital into BTC.
Bitcoin Briefly Surges Past $12,000 as Dominance Rises to Nearly 70% At the time of writing, Bitcoin is trading down marginally at its current price of $11,700 and is up slightly from its daily lows of $11,600 that were set yesterday and revisited earlier today.
Last night, Bitcoin surged past the $12,000 region before facing a sharp increase in selling pressure that sent it reeling lower. This selling pressure proved that the cryptocurrency is not yet ready to journey into the $12,000 region and may signal that further losses are imminent.
At the time, most major altcoins have been facing a significant surge in selling pressure that has caused many of them to plummet against their BTC trading pairs, which has allowed Bitcoin’s market dominance to surge to nearly 70%
Currently, Bitcoin’s market dominance is at the highest it has been since mid-2017 and is nearing levels not seen since the years before 2017.
Other major cryptocurrencies, like Ethereum and XRP, have been seeing a continuous decline in their dominance over the market, and smaller cryptocurrencies have surrendered even more of their market cap to Bitcoin.
Bitcoin Dominates Trading Volume on Coinbase This surge in market dominance has come about as a result of significantly higher-than-average BTC trading volume on major exchanges like Coinbase.
Larry Cermak, the director of research at The Block, spoke about this increased trading volume in a recent tweet, explaining that Bitcoin alone was responsible for 72% of the trading volume on Coinbase over the past 24 hours, signaling that investors have little to no interest in smaller altcoins at the present.
“Coinbase volume breakdown in the last 24 hours: BTC – 72.0% LTC – 10.2% (outlier this week because of the halving) ETH – 8.8% BCH – 2.5% XRP – 2.5% Chainlink – 1.4%. The rest combined (EOS, XLM, BAT, ETC, REP, ZRX, ZEC, Decentraland, Golem, district0x, Loom, Civic) – 4%,” he noted.
Coinbase volume breakdown in the last 24 hours:
BTC – 72.0%
LTC – 10.2% (outlier this week because of the halving)
ETH – 8.8%
BCH – 2.5%
XRP – 2.5%
Chainlink – 1.4%
The rest combined (EOS, XLM, BAT, ETC, REP, ZRX, ZEC, Decentraland, Golem, district0x, Loom, Civic) – 4% pic.twitter.com/6vdEk304mt
— Larry Cermak (@lawmaster) August 6, 2019
Although it still remains unclear as to whether or not Bitcoin is currently in a full uptrend, it is clear that investors are not yet interested in altcoins, and the prophesized “altseason” may be a long way off.
From a new Bitcoin warning to the latest support for XRP, Litecoin and Bitcoin Cash, here’s a look at some of the stories breaking in the world of crypto.
Bitcoin
As Bitcoin clings to $5,000, Bloomberg is issuing a new warning about where the price of BTC may be heading.
The GTI VERA Convergence Divergence indicator “sent its first sell signal since mid-March. The shift could suggest further downside may be ahead as the coin flirts with its highest levels of the year.”
The technical gauge is designed to identify market reversals and exhaustion. It utilizes typical moving average convergence divergence (MACD) and looks to remove excess noise, using a proprietary theory called volatility explosion relatively adjusted (VERA).
According to George McDonaugh, chief executive officer at London-based blockchain investment company KR1 Plc, a drop lower for Bitcoin would only be natural.
“When Bitcoin jumped significantly a few weeks ago, the volume was big enough to push up through major resistance levels into a potentially new trading range. Current movements are natural market cycles within a trading range, and it’s just the market searching out the lower bounds.”
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Ethereum
The latest edition of EthHub Weekly is out, covering all things Ethereum.
The new post looks at developments on Ethereum 2.0 and a number of Ethereum-based platforms, including Maker, which is comprised of a decentralized stablecoin, collateral loans and community governance, and AirSwap, a peer-to-peer trading network.
Ripple and XRP
Ripple’s global head of banking Marjan Delatinne just sat down for an interview at the 2019 Penn Blockchain Conference.
Delatinne talks about her efforts to engage with companies in the financial industry and demonstrate how blockchain can boost their bottom line.
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XRP, Litecoin, Bitcoin Cash
eToro’s regulated crypto exchange and wallet eToroX just launched seven new pairs for XRP, Litecoin and Bitcoin Cash. The pairs are BCH/BTC, LTC/BCH, BCH/ETH, XRP/ETH, LTC/ETH, BCH/XRP and LTC/XRP.
IBM has released a new video on its Stellar-powered World Wire remittance platform. Lead developer Seema Phalke talks about how the platform works and the advantages of using Stellar’s technology.
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Tron
Tron’s latest weekly report is out. The new edition reveals new progress on BitTorrent Speed which will integrate the Tron-based BitTorrent Token (BTT) with the file-sharing platform. The report also looks at the recent release of the Tron-based Tether (USDT) token.
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The Solana native coin is generating news as it goes against the trend, lately surpassing $176 in a move that has piqued the crypto world’s interest. This gain is especially surprising given the sour mood around the crypto just weeks ago, with several analysts predicting the altcoin would suffer.
SOL breaks past $176. Source: Coingecko But Solana has defied the odds, increasing both in price and in market confidence. According to analyst Miles Deutscher, the gain coincides with a broader increase in positive sentiment for Solana, encouraging industry-wide discussions about its potential.
Solana sentiment and mindshare keeps going through the roof.
But the run is far from over.
I just uploaded an important $SOL update, including:
• My price prediction
• My top ecosystem picks
If you hold Solana, you need to watch this video 👉https://t.co/fsa8qabYHE pic.twitter.com/KX7xeG3gkn
— Miles Deutscher (@milesdeutscher) October 24, 2024
Technical signs indicate an even brighter future for the fifth-largest altcoin. According to experts, Solana’s present trajectory, which is supported by a bullish pennant pattern, indicates that SOL might reach as high as $260 if it breaks past resistance.
📈 Solana is outperforming most altcoins as prices are looking to rebound after a big fall Wednesday. The #5 market cap asset continues to be a prime example of how the crowd usually gets it WRONG. View the current bearish sentiment as a sign SOL can continue to pump. pic.twitter.com/pRkCnyxRxh
— Santiment (@santimentfeed) October 23, 2024
Increasing Interest And Technical Indicators As Solana’s price rose, observers saw a dramatic surge in positive sentiment about the asset. According to data, the number of discussions surrounding Solana has contributed to the upsurge observed in the slant.
Mindshare (a measure of the percentage of crypto discussions a coin commands) has remained high. For Deutscher, the increasing attentiveness on Solana is a sign that there is even more room for growth, contrary to the prevailing tendency in the market.
Although some investors are wary, experts say the technical terrain is still favorable. If the item breaks over its barrier, the optimistic pennant formation in SOL’s price action usually denotes more gains. Depending on if Solana can break out from its present level, its token’s price might be positioned for a notable climb toward $260.
SOL market cap currently at $82.8 billion. Chart: TradingView.com The Ethereum-Solana Rivalry Surprisingly, Solana’s comeback happens at the same time that Ethereum co-founder Anatoly Yakovenko shows his accolade on Ethereum. Solana and Ethereum are competitors, but Yakovenko recently praised Ethereum’s core technology and said he liked its design and goal.
I like @BanklessHQ and ethereum. I even like the ethereum design and vision. If you told me to go build an alternative to bitcoin, ethereum settlement layer focused design is what I would steer the engineering towards.
If that’s the vision, ethereum can just embrace all the…
— toly 🇺🇸 (@aeyakovenko) October 24, 2024
This is of interest to people as they are generally two competing networks that try to outdo each other in offering superior decentralized apps and smart contracts functionality.
Ethereum has long been the preferred protocol among developers, but Solana, dubbed a “Ethereum-killer,” has quickly gained favor because to its speed and lower transaction fees. Yakovenko’s recognition demonstrates a developing sector in which competitors can acknowledge each other’s contributions to blockchain innovation.
Future Perspectives And Market Sentiment Meanwhile, Deutscher feels Solana’s price might double or possibly quadruple, particularly if Bitcoin rises to new highs, say $100,000. SOL’s continued performance despite recent falls suggests that it may have strong community and long-term holders. For the time being, SOL is a coin to keep an eye on, and with increased sentiment and a technical boost, it appears to be on track to continue challenging expectations.
Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
Strict editorial policy that focuses on accuracy, relevance, and impartiality
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Within a few hours following a tweet by Changpeng Zhao, the CEO of Binance, the Travala token, AVA, has risen by 300%. For the crypto travel agency, which lately revealed having reached $100 million in annual revenue, this increase marks a turning point. From $0.80 to $30.1, the price of AVA has exploded, courtesy of growing interest in the use of digital currency in the travel industry.
Binance Early Investment Binance had already invested in Travala before the pandemic, as disclosed in Zhao’s tweet on December 12. Both investor confidence and Travala’s position as a frontrunner in the space of crypto bookings were bolstered by this statement. At the time of writing, AVA was trading at approximately $2.51, showcasing its remarkable recovery since hitting an all-time low earlier this year.
AVA sustains a weekly rally. Source: Coingecko Travala Strategic Initiatives Travala has come up with a new way to handle bank reserves, which includes both AVA and Bitcoin (BTC). This change was made purposefully to strengthen its market position and urge more people to use cryptocurrencies to book travel. According to Juan Otero, CEO and co-founder of Travala, the plan shows their commitment to better customer experiences while keeping their finances strong.
We invested in this crypto travel platform pre-COVID, pre-crypto winter, and held on. BUILD! https://t.co/q40IZ4xfM3
— CZ 🔶 BNB (@cz_binance) December 12, 2024
Travala is changing the way people book travel as it accepts more than 100 cryptocurrencies as a form of payment. The platform allows users to reserve hotels, flights, and activities in 230 countries, offering a wide option for visitors looking to use digital currencies.
AVA is currently trading at $3.05. Chart: TradingView AVA And Cryptocurrency In Travel The rise in AVA’s price points to a more general trend towards digital currency integration in the travel sector than just temporary change. Platforms like Travala are likely to get rather popular as traditional travel companies become convinced of blockchain technology’s possibilities. The disclosure of their treasury reserves is expected to attract more investors looking for innovative ideas in the crypto field.
Analysts, meantime, envision a great future for AVA. Forecasts indicate that should present trends continue, the altcoin might see significant increase in 2024 and beyond. Through continuous innovations and cooperative efforts with reputable travel agencies, Travala is starting to take front stage in the evolving sector of cryptocurrency travel.
The significant increase in Travala’s AVA token after CZ’s endorsement exemplifies the influence of social media and prominent individuals on market dynamics. As Travala persists in innovating and broadening its services, it might potentially usher in a new epoch of travel driven by digital currency.
Featured image from Pintu, chart from TradingView
Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.
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Dogecoin (DOGE) is gaining much attention as experts speculate it will surpass industry titans like Bitcoin (BTC) and XRP.
During bull markets, Dogecoin has shown remarkable performance, and because of Elon Musk’s influence on the market, this token may see a drastic change in its course in the coming months, stated WIZZ, a cryptocurrency analyst.
Will Elon Musk Change The Game? Musk’s involvement in the meme coin has caused previous price jumps in Dogecoin. WIZZ maintains that Musk’s upcoming ventures; including those of the upcoming Trump administration may thrust DOGE past other major altcoins. In light of surging interest into Musk’s endeavors, many in the digital currency scene are seeing a similar frenzy as his past sponsorships set off waves.
One interesting fact has been Musk supposedly heading the “Department of Government Efficiency” during the Trump administration. Whether such an association could be purely by coincidence, cryptophiles say it’s just the opportunity in which the life of the coin is to be sparked.
$DOGE will outperform most majors the coming 3/6 months
U heard it here
Elon marketing starts soon.
— WIZZ🥷 ( beware scammers ) (@CryptoWizardd) January 6, 2025
Dogecoin: Historical Performance The explosive nature of Dogecoin can’t be denied, if we are to base its price action on historical trends. Analyst Ali Martinez found that during the 2020–2021 bull market, DOGE increased by more than 15,000. If history repeats itself, its token might reach a height of $23 or $1 to $3.
Dogecoin is selling at about $0.33 right now. It has been going down a little, and it retreated by 2.40% in the last 24 hours. But some strong fundamentals and community support should be enough to give the meme coin some vigor in the months ahead. Based on data from CoinCodex and IntoTheBlock, there is more action on the blockchain, which suggests that investors are once again getting interested in DOGE.
DOGE market cap currently at $49 billion. Chart: TradingView.com Does Dogecoin Have The Wherewithal To Compete With Bitcoin & XRP? Both Bitcoin and XRP have strengthened their positions in the market. Bitcoin is leading the way in institutional adoption, while XRP focuses on cross-border payment options. Dogecoin, on the other hand, gets a lot from both its active community and Musk’s support.
Although outperforming Bitcoin and XRP is a daring forecast, Dogecoin has a track record of exceeding expectations.
WIZZ’s claim matches some predictions that Dogecoin will thrive in the coming market cycle. These estimates emphasize Musk’s impact and the token’s investment appeal.
Will DOGE Fail Or Succeed? Dogecoin may succeed, but the cryptocurrency industry is volatile. Even major past achievements does not guarantee future success. Investors should diversify, educate themselves, and weigh the risks.
Dogecoin may not outperform Bitcoin and XRP. However, its ability to upend the cryptocurrency hierarchy ensures its continued prominence in 2025.
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Prominent crypto analyst Ali Martinez has shared a bullish prediction on the NEAR market suggesting a potential 15% gain is on the horizon. Amidst a major downtrend, Martinez’s latest forecast reveals the altcoin could soon see a significant market rebound.
Inverse Head-And-Shoulders Pattern Forms As NEAR Prepares For Rally In an X post on April 11, Ali Martinez shows a technical analysis of the NEAR 3-day chart revealing the formation of an inverse head-and-shoulders pattern which signals a potential price upswing. In financial markets, the inverse head-and-shoulders pattern is a bullish formation that often acts as a reliable indicator of a trend reversal.
As the name implies, it consists of three troughs in the form of the left shoulder, the deeper “head”, and the right shoulder as evidenced by the price action between April 7 and April 11 on the NEAR chart. Notably, a descending neckline connects the highs between these troughs and serves as a key resistance level.
Source: @ali_charts on X According to Ali Martinez, NEAR is gradually approaching this neckline, a decisive breakout above which would confirm the bullish reversal and initiate a price rally toward 2.40. Interestingly, NEAR’s relative strength index on its daily chart has recently left the oversold zone backing Martinez’s prediction of an impending price reversal. However, market bulls should still expect to face some resistance at the 1.000 and 1.272 Fibonacci extension levels at $2.10 and $2.34.
On the other hand, if the NEAR bulls fail to break above the descending neckline, it could invalidate the current bullish setup and potentially force a price fall to support levels around the $1.96 and $1.82 price zones.
NEAR Price Outlook At the time of writing, NEAR is trading at $2.09 following a price gain of 4.34% in the past day. On larger time frames, the altcoin is down by 16.12% on the weekly chart and 17.58% on the monthly chart showing short-term investors are holding significant losses.
According to data from CoinCodex, the general sentiment in the NEAR market remains highly bearish. Meanwhile, the Fear & Greed Index stands at 25 reflecting an Extreme Fear among investors. Contrary to Martinez’s positive predictions, these analysts predict NEAR to maintain its current downtrend in the short term with predictions of $2.07 in five days and $1.90 in a month.
In the long term, Coincodex still maintains a bearish outlook on the NEAR market projecting a market price of $1.58 in three months i.e. a potential 24% decline from current market prices.
NEAR trading at $2.084 on the daily chart | Source: NEARUSDT chart on Tradingview.com Featured image from Pintu, chart from Tradingview
Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.
Business leader and consultant Jake Claver recently shared insights into the potential price trajectory of XRP during a discussion on YouTube.
Claver suggested XRP could experience dramatic growth, possibly reaching prices in the four-digit range. He provided a breakdown of the key factors that could fuel this XRP value surge.
XRP Role in Global Financial Infrastructure First, Claver pointed to the growing global financial infrastructure around digital assets. He highlighted Project Ion by R3 and the DTCC, which aims to streamline financial markets through real-time settlement using digital assets.
According to Claver, this infrastructure is already in place and could serve as the foundation for XRP’s widespread adoption. With the possibility of settling transactions in real-time using tokens like XRP, Claver asserted that the digital asset is in a promising position within global finance.
Furthermore, Claver discussed XRP’s potential in a hypothetical scenario where it could rival SWIFT in global transaction processing. He noted that if XRP could capture just 10% of SWIFT’s market share, prices could rise to between $50 and $100. He pointed out that this market handles over $5 trillion daily transactions.
“If you had 10% of SWIFT, a $50 to $100 XRP makes a lot of sense,” he said.
Claver emphasized that both supply and demand would play a major role in driving the surge. He explained that the available supply of XRP is limited, with a large portion already allocated in escrow.
Impact from Institutional Adoption and ETFs Another significant factor driving the potential for XRP’s growth is the surge in institutional interest. Claver discussed how the filings of 17 ETFs related to XRP could pave the way for massive institutional liquidity to flow into the market.
He believes these ETFs could create an environment where XRP becomes a central asset in broader financial markets.
Meanwhile, Claver noted that the resolution of Ripple’s lawsuit with the SEC is crucial for this institutional potential.
Host Zach Rector suggested that, just from ETFs and broader institutional adoption, XRP could rise to around $20 or $30 by the end of this year and into the next.
Crisis Scenario Could Push XRP’s Price to Four Digits One of the more extreme scenarios Claver proposed was the potential for a global financial crisis that could send XRP’s price soaring to four-digit levels. He theorized that if there was a market-wide liquidity crunch, such as exchanges becoming illiquid or issues with Tether, XRP could serve as a mechanism to stabilize the markets.
In this crisis scenario, XRP would drain liquidity from exchanges and the broader financial system.
Claver suggested that as institutional demand for XRP rises due to the need for real-time settlement in a turbulent market, its price could rapidly increase as buyers scramble to secure the limited supply. In his words:
“…if they rolled out these ETFs at the same time exchanges were pushing the value up, I think you could see prices driven to four digits in a very short period of time, with the demand placed on the limited supply that’s still out there.”
Essentially, Claver’s insights paint a picture of an XRP that could far exceed its current price range, with the potential for prices ranging from $100 to $9,999 in the future. However, these predictions remain purely hypothetical.
DisClamier: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basic opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.
Crypto markets slowly starting to correct; VeChain and BNB going strong, Stellar, ADA and NEO dropping fastest. Market Wrap Yesterday’s minor movement did not last and crypto markets have fallen back a little as we end the week. The week-long rally looks like it is about to run out of steam as resistance is hit for the big cap cryptos. Total market capitalization has held though and is still above $134 billion for the time being.
Total market cap, 24 hours. Yet again Bitcoin hit resistance at $4,000 and failed to break through. The longer this happens the less likely there will be a break to the upside. BTC is trading down marginally on yesterday’s levels but it still holding around $3,970 at the moment, volume is slowly shrinking however.
Ethereum is holding $147 for now but it too has failed to break resistance at $150 so further losses could be on the cards. XRP is falling back and has lost 2% on the day dropping it to $0.322. This has widened the gap between it and ETH to $2.1 billion.
The top ten is all red during Friday’s Asian trading session aside from Binance Coin which is back up again while others are falling. BNB has made over 3% on the day taking it to $10.90. The biggest drop in the top ten is Stellar losing 3% but remaining above Tron for now.
The top twenty is awash with red at the time of writing. Cardano and NEO are dropping the most with 4% losses each. The rest are dumping between 1 and 3 percent as markets correct from three days of buying pressure.
QASH has surged back into the top one hundred with a fomo pump of 33% but today’s surprise mover is VeChain which has made 12% over the past 24 hours. Daily volume has almost quadrupled from $5.7 million to almost $20 million, over half of it traded on Binance. The recent blockchain integration with Amazon Web Services appears to be driving momentum;
AWS services enable one-click VeChainThor Blockchain deployment for enterprises.
Original: https://t.co/qIWZVS9mbR
English: https://t.co/lBtB6T5vCZ
— VeChain (@vechainofficial) February 18, 2019
Total market capitalization has cooled off and settled at $134 billion, down 1.5% from yesterday’s levels. Daily volume continues to dwindle and is now $10 billion less that it was a couple of days ago at $25 billion. It has been a strong week for crypto markets which are still up 10% on the same time last week.
Market Wrap is a section that takes a daily look at the top 20 cryptocurrencies during the current trading session and analyses the best-performing ones, looking for trends and possible fundamentals.
In brief A judge didn't buy Ripple's request to dismiss a class-action lawsuit against it. The judge seemed to assume, for now, that XRP is a security, a lawyer told Decrypt. Should the court rule in favor of the plaintiffs, it could have widespread effects on the market. Ripple Lab Inc., the company behind the XRP cryptocurrency, failed to convince a judge on Wednesday to dismiss a class-action lawsuit that could force the San Francisco-based company to return all of XRP’s investors’ money, and take the coin off the market entirely.
Since XRP is the third-most popular cryptocurrency by market cap and trades almost $3 billion per day, such a ruling could crash the cryptocurrency market. A ruling against Ripple would also set a legal precedent that would make it easier for disgruntled investors to go after the creators of other cryptocurrencies, such as Kik Messenger and Telegram, which are battling similar allegations from the SEC.
The plaintiffs, various disgruntled investors who bought into XRP at an early stage, allege that San Francisco-headquartered Ripple sold them XRP under false pretenses, and that the sale constituted an unregistered securities offering under US law.
They argue that under the decades-old yardstick for determining whether or not an asset constitutes a security, the Howey Test, XRP constitutes a security. And if a cryptocurrency token is an unregistered security, then Ripple’s token sale would have been illegal, and Ripple might have to give investors their money back.
Ripple asked a federal judge in Oakland, California to throw the case out because of the amount of time that has passed since the initial sale: XRP was offered over five years ago. But US District Judge Phyllis Hamilton refused to dismiss the case.
And, what’s more, her arguments for doing so appear to rely on the assumption—for the purposes of this early-stage motion, at least—that XRP does, in fact, constitute a security under US Securities Law, Jason Gottlieb, a partner of Morrison Cohen LLP who’s experienced in crypto litigation, told Decrypt.
In her response to the motion to dismiss, Judge Hamilton refers to a statute of limitations issue under the Private Securities Litigation Reform Act, “which would only apply if XRP were a security,” he said.
Judge Hamilton also evaluated whether Ripple was a “seller” under securities laws, as well as liability issues under federal securities laws. “You wouldn’t be looking at those unless you had determined, for the purposes of this motion, that XRP is a security,” said Gottlieb.
Jake Chervinsky, General Counsel of DeFi product Compound Finance, agreed: “The securities claims survive. XRP stays in the crosshairs,” he tweeted on Wednesday.
Gottlieb pointed out that Judge Hamilton doesn’t exclude an argument against this at a later stage of litigation. But at this stage, “Even Ripple knows that arguing that [XRP] is not a security on a motion to dismiss is a fool's errand,” he said.
The case won’t be settled anytime soon, said Gottlieb. Judge Hamilton invited the plaintiff’s to amend their complaint that Ripple lied to them, but should Judge Hamilton deny another motion to dismiss after that; then to discovery; and then, if things still aren’t resolved, a trial. “It's hard to imagine a trial happening in calendar 2020,” he said. (Of course, the parties could settle at any point).
But should a judge rule that XRP is a security, that could have widespread effects on the cryptocurrency industry—and not just because Ripple might have to give investors their money back. Such a legal precedent could make it easier for investors to claim back billions raised in other token sales, which could also be ruled to constitute unregistered securities offerings.
“XRP is widely traded in the secondary market; it could really create some havoc,” said Gottlieb.
And should financial institutions wish to keep trading securities, financial service firms, like crypto exchanges, investment funds, and trading firms, might be subject to registration and licensing, according to the website of the Crypto Ratings Council, an industry body set up to help crypto startups determine which blockchain-based tokens qualify as securities.
Other major ongoing cases are those levied by the SEC against the blockchain networks of Telegram, the operator of the 300-million-strong messaging app, and Kin, a blockchain network formerly owned by Kik, which coincidentally also runs a messaging app of a similar size. The SEC claims that the $1.7 billion Telegram raised, and the $100 million Kin raised, in ICOs constituted an unregistered securities sale.
Just like the XRP case, if the judge rules in the SEC’s favor, Telegram might have to give investors their money back. It would also create a legal precedent, said Gottlieb, but would come with the SEC’s additional bite of “injunctive relief,” which would prevent Telegram from running token sales in the future.
What it all boils down to is this: should any of these major cases result in a judgment that one of these token sales constitutes an unregistered securities sale, then not only will that affect the other major cases, but the legal precedent developed could make it easier for similar cases to be settled in the future.
Yankun Guo, a lawyer who set up her own practice in Chicago to help early-stage startups, told Decrypt that crypto startups, hedge funds, and companies considering token offerings ought to "pay attention to who their investors are (accredited or not), as well as the disclosures they are putting out around their companies and tokens."
Her advice might have come too late for the crypto companies battling court cases with investors. Though investors would surely benefit from court rulings in their favor, the crypto economy as a whole might suffer, particularly if future lawsuits drain money from the market.
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It can be argued that the innovation spurred by Bitcoin and the cryptocurrency market gave rise to Initial Coin Offerings [ICO]. Looked upon as a means to revolutionize the way capital was raised in the ecosystem, ICOs also pushed general people to participate in a particular project. In fact, ICOs’ popularity peaked in 2017, with the year coming to be known as the year of the ICOs.
With time, however, this popularity faded, as multiple fake ICOs emerged. Even though not all projects were fake, it emerged later that nearly 45% of the top 20 ICOs had failed.
However, the lessons of these ICOs remain instrumental, especially with respect to major companies of the cryptocurrency ecosystem that are hinting at conducting an Initial Public Offering [IPO].
Understanding IPO and ICO
ICOs and IPOs differ from each other significantly, like two different generational concepts. On one hand, while IPOs are conducted for well-established companies that are considered “safer” to invest in, on the other hand, ICOs are looked upon as an avenue for young companies, avenues that might come with a *risk warning.*
In fact, according to a report that analyzed 20 ICO projects, 9 out of 20 projects failed, which is 45%. However, 11 were successful, including EOS, a project that, at press time, was ranked eighth in the market with a market capitalization of $1.76 billion.
Since ICOs usually don’t involve parties with years of experience, investment by users will often be based on sentiment [or good faith], while on the other hand, IPOs provide a record of experience in the field, healthy bank accounts, and a business resume.
Alina Kiselevich of Enigma Securities explained this difference between ICOs and IPOs in an interview with AMBCrypto. She said,
“If put simply, Initial Public Offering is a process of distribution of shareholdings to the public though investment, usually only open to established private entities, Initial Coin Offering is, on the other hand, open to everyone who is willing to invest on blockchain, and is a process of crowdfunding for the startup companies, though the intent is the same in both cases.”
The earliest form of IPO can be traced back to publicani during the Roman Republic. IPOs have since evolved to become a more organized, legal, and compliant process. For a company to conduct an IPO, it has to fulfill several requirements like having a minimum earning threshold, a good record, the legal declaration of its intentions to issue public shares, and information about the company to assist potential investors.
Contrarily, ICOs do not fall under any regulatory framework and legal protocols, with many newly formed companies having just a whitepaper to support its project. Similarly, investing in ICOs also has its perks as the only requirement is to have an Internet connection, with investors open to investing in companies in any part of the world. This isn’t the case for IPOs as in its case, there are legal footsteps to be followed to invest in a country abroad.
The stocks acquired by investors during an IPO process resemble their ownership stake in the future revenues of the company. While investing in ICOs does not grant ownership to the investors, but it offers different ways to earn benefits. These benefits could stem from the project’s success and growth of the value of the token it offers.
Even though IPOs appeared to be safer compared to its ICO counterpart, the fate of the company cannot be pre-determined. For example, WeWork, a real estate company providing shared working spaces, had to roll back its idea of conducting an IPO after it ran into financial trouble. The company had filed its IPO paperwork in August but within a month’s time, its valuation was down from $47 billion to $10 billion. Thus, the fate of any company, big or small, new or old, cannot be pre-determined.
When a comparison between ICOs and IPOs was drawn, Alina was of the view that IPOs could be the chosen one.
She elaborated,
“When it comes to returns of the investments, IPOs offer a more secure dividends from the company’s profits, whilst ICOs offer tokens at a price that will get higher due to the trust and interest in the project.”
SEC’s views on ICOs and Ripple’s ICO
As the ICO wave crashed, the U.S Securities and Exchange Commission [SEC] clamped down on various projects for selling unregistered securities. For example, Kik and Kin, both successful ICO projects, were among several companies to face the wrath of the SEC.
There has been a long-standing discourse surrounding the treatment of digital assets and Ripple Labs Inc. has been at the center of it – with the digital asset XRP. The company had an ongoing class-action lawsuit filed against it by Taylor-Copeland law firm in May 2018 for the sale of unregistered securities. According to a report,
“The lawsuit targets Ripple, its subsidiary XRP II, and Ripple CEO Brad Garlinghouse, alleging that Ripple’s sale of XRP tokens is a violation of U.S. securities laws.”
The plaintiff in the case stuck to Howey Test and its criteria that can categorize XRP as a security. However, the validity of the Howey Test has been argued as it did not fall true for digital assets as they remain a novel concept.
There has been a lot of back and forth in the court about the legitimacy of Howey’s test, but Ripple has not managed to quash the case. In a recent turn of events, a United States federal district court even decided to allow a lawsuit alleging that Ripple’s XRP is an unregistered security.
According to Adam Blumberg, the co-founder of Interaxis, Ripple’s tiff with the SEC could play out in multiple ways. Declaring XRP a cryptocurrency would be one easy way out, but what about if it is not? Blumberg posed some important questions,
“…the SEC is having a wrangle with that [Ripple’s ICO] and figure out, “okay, you raised a bunch of money in the public markets using this cryptocurrency that is not at all tied to ownership of ripple,” So does ripple off to give the money back? Do they have to convert every XRP to a share? They’re not, they’re not quite sure how to get over this because it’s been out there for years already.”
Ripple’s IPO
Davos becomes a prime spot once every year when the big shots of the world of finance and politics gather for the World Economic Forum. The summit has its own set of critics, but as January begins, all heads turn to the summit to hear from the horse’s mouth the measures for development taken in the field and the trends to follow.
One name among the guest list was Ripple CEO Brad Garlinghouse. In a talk with WEF, Garlinghouse had opined that the upcoming trend in the industry could be of IPOs. He had also claimed that Ripple might not be the first to do it, but won’t be last either. He stated,
“In the next 12 months, you’ll see IPOs in the crypto/blockchain space. We’re not going to be the first and we’re not going to be the last, but I expect us to be on the leading side… it’s a natural evolution for our company.”
Thus began the speculation of Ripple’s IPO in the crypto-market. However, according to the co-founder of Interaxis, Adam Blumberg, Ripple has already, in a manner, conducted an IPO of its own.
In an exclusive interview with AMBCrypto, Blumberg noted,
“…XRP and Ripple are not the same things and they [Ripple] basically used XRP as an IPO, essentially. So they raised billions of dollars right, there were billions of dollars now without having to have an IPO.”
However, before Ripple jumps on the IPO train, it will have to settle this case with the SEC and prove that XRP is a crypto and not a security. If Ripple is able to play that out, the IPO of this crypto-giant will be interesting and according to Enigma Securities’ Alina Kiselevich, might impact XRP.
Kiselevich told AMBCrypto,
“Some crypto analysts say that IPO could have a great impact for Ripple. They are planning to be on the leading side and predict more IPOs in the crypto space. But Ripple going public has potential implications for the fate of altcoin XRP.”
Ripple’s IPO has been raising the same question in most people’s minds and even Blumberg’s mind, “What about XRP?” However, Blumberg believes that the only way a crypto-company could conduct an IPO is if they are profitable first, otherwise it could be conceived similarly to an ICO – where you raise money on the future prospects of a company.
Talking about successful companies in crypto, Blumberg gave the example of Coinbase, a multi-billion dollar company that can conduct an IPO in theory as they suffice the requirements laid down by SEC. Blumberg claimed,
“Coinbase is a multibillion-dollar company, right? They can go public, but they are not. They’re making money because they charge transaction fees in dollars, not because they mint anything, right? They’re not a crypto company. There is a bank. They’re a financial services company, so they can go public and they probably will go public because why wouldn’t it?”
A profitable crypto-company may benefit out of an IPO as a means to raise capital quickly and may open it to a large set of investors. However, according to Alina, the crypto-space is not the one to follow a trend that is getting older with time.
She noted,
“So if ICO is said to go sour, IPO is even more so.”
Crypto or Stock?
Any crypto-company conducting an IPO will be able to pave the basic understanding of crypto into the mainstream. However, at the end of the day, the investors holding a company’s coins or stocks perceive that the project reaching them must be vetted by the SEC. The moment technology and risks set in, investors become wary.
An IPO does provide the security offered by the company’s history, and legal barriers do make it easier for investors to be part of the project, but the same cannot be said for ICOs due to its decentralized nature.
However, the variety of products and services offered by the crypto-space could be a cumulative functioning of five to six different industries; thus, an IPO could drive adoption and attention from the mainstream, but at the same time, unpopular projects might have to either drop the plan or prove their worth.
The Diamond Tokenization SetupBilliton Diamond and Ctrl Alt moved over AED 1 billion ($280 million) worth of certified polished diamonds on-chain in the UAE.
Ripple’s enterprise custody tools secure the physical diamonds, while the XRP Ledger creates digital tokens representing ownership.
Adding to its infrastructure push, Ripple secured full Electronic Money Institution approval from Luxembourg’s financial regulator last week, pushing its global regulatory approvals beyond 75.
This follows recent UK approvals, reinforcing Ripple’s position as one of the most heavily licensed crypto firms.
The Regulatory RoadblockThe broader platform launch requires approval from Dubai’s Virtual Assets Regulatory Authority (VARA).
Until then, the $280 million represents a controlled pilot rather than an open marketplace.
Critical details remain unclear.
The companies did not explain how someone holding a diamond token would redeem it for the physical stone, what the minimum purchase size would be, or how individual stones get priced—all essential for real trading.
Dubai’s DMCC coordinated the project as the emirate positions itself as a hub for tokenizing real-world assets like commodities and luxury goods.
The Trading ChallengeCreating blockchain tokens for diamonds is the easy part.
The harder challenge is building a marketplace where these tokens actually trade with reliable prices and smooth redemptions.
Each diamond is unique, with individual characteristics affecting value—cut, clarity, color, and carat weight.
This makes pricing more complex than tokenizing gold or oil, where units are identical and fungible.
The companies acknowledged this hurdle, mentioning a longer development timeline for features like custody transfers and secondary-market trading.
However, without concrete plans for redemption mechanics and pricing, questions remain about moving beyond the pilot phase.
Image: Shutterstock
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In major XRP news today, Ripple-backed Ctrl Alt completes the diamond tokenization deal with Billiton Diamond. Ripple executive Reece Merrick confirmed that the tokenized assets are now live on XRP Ledger (XRPL).
XRP News: $280 Million in Diamonds Are Now Tokenized on XRPL Reece Merrick, Ripple managing director for the Middle East & Africa, has highlighted the successful completion diamond tokenization deal between Dubai-based Billiton Diamond and tokenization firm Ctrl Alt.
More than $280 million (over AED 1 billion) worth of certified polished diamonds are now tokenized on the XRPL. This RWA tokenization project bridges commodities with blockchain by leveraging Ripple’s enterprise-grade custody infrastructure.
“The tokenization of 1 Billion+ AED in diamonds by Ctrl Alt and Billiton Diamond isn’t just a win for the UAE, it’s a masterclass in how the XRP Ledger handles high-value RWA at scale,” said Reece Merrick.
He also pointed out how Ripple is solving the “trust gap” in digital commodities. Notably, Ripple Custody is providing bank-grade vaulting and tokenization on the XRPL to turn illiquid luxury goods into tradable assets.
Merrick also spotlighted Ripple and its partners’ work with the UAE’s forward-thinking ecosystem DMCC and VARA to set a global standard.
Ripple-Backed Ctrl Alt and Billiton Diamond Deal Billiton Diamond and Ctrl Alt announced the deal to tokenize diamonds worth $280 million. It uses Ripple’s custody technology to secure the assets and the XRP Ledger to mint tokens tied to physical inventory. In recent XRP news, Ctrl Alt launched tokenized real estate trading after a partnership with the Dubai Land Department.
XRPL offers the advantages of scalability, speed, minimal fees, and regulatory alignment. This move demonstrates XRPL’s growing demand in RWA tokenization. Until now, the value of assets tokenized on XRPL has reached $1.96 billion.
Experts see this as part of a larger trend where luxury and physical goods move on-chain, potentially boosting XRPL usage and utility for XRP. Reece Merrick noted it sets “a new standard for transparency and efficiency in global finance.”
Ahead of crypto options expiry, XRP price is trading more than 3% lower at $1.39. The 24-hour low and high are $1.39 and $1.45, respectively. Furthermore, trading volume has tumbled more than 30% over the past 24 hours.
The analyst put $1.50 as the trigger: a monthly close above it opens the path to $2.20 and validates the entire setup; failure invalidates it.
XRP is back in the spotlight after a new technical analysis posted on May 4 by EGRAG Crypto claimed a rare “macro diamond” pattern could send the token as high as $183 to $300 over time.
The analysis has gained traction in the XRP community at a moment when the token is struggling to hold above $1.40, and its ETF products are only just beginning to recover from a period of net outflows.
The Diamond Structure and What EGRAG Is Actually Claiming In a post shared on X, EGRAG Crypto argued that XRP is not forming a random structure but a large-scale diamond pattern on the monthly chart, with timing playing a central role. According to the analyst, “price meets time” at specific intersection points, which could dictate when major moves unfold rather than just where price goes.
Per their assessment, $1.50 is the near-term trigger, with a monthly close above that level opening the path to $2.20 and validating the bullish setup, while failure to hold the structure would invalidate it. They outlined two “critical” time windows in April 2027 and April 2028, which they believe could match up with the larger cycle expansions.
The first sequence would see XRP go from $7, $16, $36, $80, and finally $183, while the second, slightly different path aims for $5, $11.50, $24.50, $60, $135, and $300. Recall that the Ripple token managed to snap a 6-month run of losses in April, with even spot XRP ETFs recording their highest inflows in four months.
However, a look at the price charts shows that the asset has barely moved. At the time of writing, it was trading at around $1.40, up less than 1% in the last day and down about 1.4% on the week. Therefore, hitting EGRAG’s upper target of $300 would require XRP to go up at least 200X, with even the more conservative $7 target needing a 5X jump from here, so it’s worth keeping those numbers in perspective.
Market Structure Tells a More Cautious Story The broader technical picture painted by other market watchers is more grounded, with analyst ChartNerd, in a video posted around the same time, pointing to Fibonacci extension levels at $8, $13, and $27 as realistic cycle targets.
You may also like: XRP’s Price Could Explode to $8, But This One Zone Is Holding It Back 5 Reasons Why Bitcoin Just Crashed Below $63K as Liquidations Top $500M XRP’s Biggest Warning Sign Is Still Flashing Despite Easing Whale Activity However, he thinks XRP may first drop to a base somewhere between 70 and 90 cents. “History tells us these deep pullbacks happen first,” ChartNerd said, noting that every major XRP rally since inception has only come after a retest of ascending support levels.
A potential base in 2026 followed by a recovery would still represent a meaningful move from current prices, even if it lands well short of EGRAG’s upper projections.
Whatever the longer-term trajectory, short-term market structure data offer some support for a gradual recovery. An analysis posted Monday by trader CW8900 noted that despite a brief dip triggered by unconfirmed reports of Iranian missile activity near a US warship (later denied by a senior US official), bearish pressure in XRP remained minimal.
“There is almost no increase in bearish bets,” CW wrote, adding that the upward momentum was continuing to build.
Crypto markets have hit a new 2019 high; Bitcoin dominating, ETH, BNB and XMR moving, LEO enters top twenty. Market Wrap It has been another fruitful Friday in crypto land. Markets have hit a new high for the year and as usual it is Bitcoin driving them. A total market cap top of $300 billion was touched a few hours ago as BTC broke through resistance once again surging to a new 13 month high.
The move came a few hours ago during early Asian trading. This time it wasn’t a ‘Bart type spike’ but a gradual grind up through the resistance at $9,600 and on towards an intraday high of $9,800. Since then gains have mostly held as Bitcoin remained around $9,700 with plenty of talk about a further move to $10k today or over the weekend.
Ethereum also got a boost this time as a 4 percent climb lifted it to $280. In comparison however ETH is still way down, over 80 percent of ATH compared to BTC which is now close to 50 percent. There is no doubt that Ethereum will crack $300 and make bigger gains when altseason kicks in but at the moment the going is slow.
Altcoin Outlook The crypto top ten has not reacted with the usual fervor and aside from Binance Coin adding 6 percent nothing else has really moved much. There is a little green with Bitcoin Cash and EOS adding 2 percent each but others such as BSV are falling back. There has been no movement on XRP, LTC and XLM.
The top twenty is equally lethargic aside from Monero which is still climbing with a further 6 percent today to reach $108. The Bitfinex transparency initiative UNUS SED LEO has arrived on the scene as CMC has just registered a market cap of $1.8 billion jumping it straight into 14th place above Dash. LEO tokens were trading at $1.84 at the time of writing. The rest of the altcoins are up a percent or flat at the moment.
FOMO: Egretia Climbing Higher Today’s top performing crypto top one hundred altcoin is Egretia again as entertainments based token surges 24 percent. A listing in Singapore’s BiUP exchange may have driven some of the momentum for EGT as the team rejoices.
Breaking News: Egretia is currently ranked 77 as per CoinMarketCap!!! EGT has seen the highest gain, growing almost 30% over the past 24H! More info, welcome to join us on telegram : https://t.co/G8oBPqZT64
Nash Exchange is getting a 12 percent boost today and Vestchain has made ten, these are the only three cryptos in double digits. Waltonchain and Grin are at the other end of the list dumping 10 percent each.
Total market cap 24 hours. Coinmarketcap.com Total crypto market capitalization surged almost $15 billion to top out at a new 2019 high of $300 billion a few hours ago. A slight correction has dropped markets back to $297 billion at the moment but things are still bullish. Bitcoin is the only thing driving market gains at the moment as dominance increases to 58 percent in its push to five figures.
Market Wrap is a section that takes a daily look at the top cryptocurrencies during the current trading session and analyses the best-performing ones, looking for trends and possible fundamentals.
The world of cryptocurrency is buzzing with news these days, and many people are closely watching the latest trends. Ripple (XRP) has been a hot topic, especially with talks about a possible ETF approval.
However, some experts warn that just because an ETF might happen, it does not mean it will protect people from losing money. Because of this uncertainty, traders are looking away from Ripple and checking out other promising coins like SEI which is becoming popular as a new opportunity in the market.
As more people get interested in SEI, IntelMarket (INTL) is also making a name for itself by giving traders cool features and tools to help them navigate this exciting landscape. With so many interesting possibilities coming up, investors are eager to see what is next for Ripple (XRP), SEI, and the unique offerings from IntelMarket while searching for the next big chance.
Ripple (XRP) is Facing New Challenges and Uncertain Times Ahead Ripple (XRP) is priced at around $0.5354, and its market value is about $30.33 billion. Recently, its price went up by 1.55%, but many investors are feeling nervous. The excitement around the XRP ETF is real, but some people believe it might not be enough to keep prices steady.
Lately, XRP has been having a tough time. There are 99.99 billion XRP coins in total, and about 56.65 billion are available for trade right now. As the 7th largest cryptocurrency, it has a strong place in the market, but its recent price movements show that things are shaky.
Interestingly, some big holders of XRP are still active, which means there could be some big trades happening. However, the price has not been stable, which worries many people. Investors are keeping a close eye on any news about rules that could affect Ripple (XRP). While some are hoping for a comeback, the future seems uncertain for this well-known cryptocurrency.
SEI is a New Player Stepping Up to Challenge the Big Names SEI is rising quickly after the Ripple (XRP) runs into some bumps in the road. Right now, it costs $0.424, and its market cap is about $1.49 billion. It has increased by 4.73% in a single day and more investors are beginning to have faith in it.
What makes SEI special is its focus on being fast and efficient, which attracts both new and experienced traders. It has a total supply of 10 billion SEI, with 3.52 billion available to trade. This solid foundation makes it a fun option for those looking to invest.
SEI is also making its platform better and easier to use, helping users trade and earn more money. As the market changes, SEI looks ready to challenge older coins like Ripple (XRP). It is an exciting time to see how SEI grows and what it can offer to investors.
IntelMarkets: Your Key to Smart Trading and Maximizing Profits While XRP and SEI are in the spotlight, IntelMarkets (INTL) is changing how people trade in cryptocurrency. This platform works on both Ethereum and Solana, giving traders fantastic options. With a price of about $0.027364, IntelMarket has already raised over $1,070,828, showing that lots of people are interested.
At IntelMarket, traders can use leverage of up to 1000x which means they could earn big returns on their trades. The platform also offers smart tools to help users manage their risks whether they are experts or just starting plus it is easier to spot the best opportunities with many asset pairs available in the rapid crypto market.
The future looks bright for IntelMarket as it continues to grow, and with so much interest right now, now is an excellent time to see what this platform can do for you. Do not miss the chance to be part of the next wave in crypto trading, so just take a look at IntelMarkets today and find out how it can help you trade better.
Discover More About IntelMarket:
Presale: https://intelmarketspresale.com/ Buy Presale: https://buy.intelmarketspresale.com/ Telegram: https://t.me/IntelMarketsOfficial Twitter: https://x.com/intel_markets Disclaimer: TheNewsCrypto does not endorse any content on this page. The content depicted in this press release does not represent any investment advice. TheNewsCrypto recommend our readers to make decisions based on their own research. TheNewsCrypto is not accountable for any damage or loss related to content, products, or services stated in this press release.
Market maker giant Jane Street is again drawing intense attention in crypto markets, with experts claiming the firm’s “next target” may now be Ethereum (ETH).
The speculation comes after reports that Jane Street made several major adjustments to its positions during the week, following months of scrutiny tied to alleged trading manipulation connected to Bitcoin (BTC).
From Bitcoin Retreat To Ethereum Expansion Jane Street, one of Wall Street’s most active proprietary trading firms, reportedly reduced multiple Bitcoin-linked holdings in the first quarter (Q1) of the year, while meaningfully increasing its exposure to assets tied to Ethereum.
Jane Street’s position in BlackRock’s iShares Bitcoin Trust (IBIT) fell by 71% quarter-over-quarter to about 5.9 million shares, with a reported value near $225 million.
The firm also cut its stake in Fidelity’s Wise Origin Bitcoin Fund (FBTC), where holdings fell approximately 60% to around 2 million shares, valued at nearly $115 million at quarter-end.
The reduction also extended to Strategy (previously MicroStrategy). Jane Street’s Strategy holdings fell from about 968,000 shares in Q4 2025 to roughly 210,000 shares by the end of Q1. The reported value declined from close to $146 million to around $27 million.
But while the firm was dialing back Bitcoin exposure, it was simultaneously building its Ethereum footprint. Jane Street expanded its holdings in Ethereum ETFs, with positions in BlackRock’s iShares Ethereum Trust nearly doubling during the quarter.
The firm also added substantially to Fidelity’s Ethereum fund. Combined additions across the two ETH products were estimated at approximately $82 million.
Smaller Derivatives, Bigger Impact? The move is now being framed by analysts as a potential continuation of the same pattern some observers associate with Jane Street’s earlier Bitcoin-linked controversies.
Analysts at Bull Theory suggested that the firm behind a “daily 10 AM Bitcoin dump,” the same firm that was reportedly sued for insider trading in the $40 billion LUNA collapse, and the same firm with $567 million frozen by Indian regulators could now be targeting Ethereum.
Their central argument is that ETH may be easier to move than BTC, primarily because of market structure and scale. Bull Theory pointed out that Bitcoin futures open interest stands at roughly $60 billion, while Ethereum’s is slightly more than half at about $34 billion.
The thesis is that a smaller derivatives market can make it possible to influence price with a smaller amount of capital. They also emphasized relative market size, noting that ETH’s market cap is $273 billion compared to BTC’s $1.6 trillion. Under their logic, the same amount of capital would create 6 times greater price impact in ETH.
The analysts also argued that the Ethereum ETF market is still relatively early. They claimed that Bitcoin ETFs hold roughly 6.67% of all circulating BTC supply, while Ethereum ETF penetration is lower, meaning there may not yet be the same institutional “demand floor” to absorb coordinated selling.
Their conclusion was pointed: they believe the rotation into Ethereum is not happening primarily because Jane Street is forecasting bullish fundamentals for ETH, but because Ethereum is “easier to move.”
The daily chart shows ETH’s attempt to reclaim the key $2,300 level as support. Source: ETHUSDT on TradingView.com At the time of writing, ETH was trading at around $2,292, with almost no change from Wednesday’s price. Meanwhile, other assets such as Bitcoin and XRP saw gains of around 2% and 4% respectively during the same period.
Featured image created with OpenArt, chart from TradingView.com
Cover image via U.Today Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.
Fresh Ripple USD stablecoins (RLUSD) amounting to 150,000,000 RLUSD, which were recently minted at the Treasury, have been traced to Gemini Exchange. According to XRPL validator Vet, the minting came just after the exchange redeemed 128 million RLUSD on XRP Ledger.
Liquidity testing or demand surge behind RLUSD activity?Notably, the fresh minting by the Ripple Treasury was done in two batches of 92.3 million RLUSD and 58.2 million RLUSD. The successful minting and transfer to Gemini confirms that the exchange maintains 1:1 USD reserves in a Ripple-controlled account for minting.
Vet could not explain the reason Gemini exchange initially redeemed the 12 million RLUSD before the recent 150 million RLUSD. It is possible that the exchange was engaging in liquidity testing to assess the mint and burn infrastructure and how quickly Ripple could respond to its requests.
Now Gemini minted 150,000,000 $RLUSD on the XRP Ledger with Ripple.
This means Gemini has 1:1 the USD liquidity in a Ripple controlled bank account, to mint this amount.
I can't tell exactly the motivation or goal behind this sequence of events.
But Ripples mint/redeem engine… https://t.co/q2gF9LpHDK pic.twitter.com/WYVYNHBs84
— Vet (@Vet_X0) April 1, 2026 Additionally, Gemini might have experienced a demand surge shortly after burning the initial 128 million RLUSD previously.
In any case, Vet noted that the transaction confirms that "the Ripple mint/redeem engine for RLUSD works great." The XRPL validator acknowledged that funds are swiftly sent to distribution accounts to fund customers.
The development suggests that institutions are actively interacting with RLUSD infrastructure because of its efficiency. For their part, liquidity providers like Gemini are testing the blockchain infrastructure, while XRPL is being used for stablecoin settlement.
Overall, it signals bullish infrastructure growth for the Ripple, which has sparked mixed reactions among community members. While some consider this a confirmation of "Ripple's stablecoin infrastructure firing on all cylinders," others are not impressed.
A user, Evelyn Anderson, observed that minting 150 million RLUSD does not prove strength; rather, it is evidence of capacity. She argues that without real demand, the minted RLUSD is just numbers on the blockchain.
RLUSD growth Strategy targets $2 billion market cap You Might Also Like
Although the reason for Gemini’s initial burn of 128 million RLUSD remains unknown, it is consistent with Ripple’s overall strategy.
Over the last 16 months since the launch of RLUSD, Ripple’s USD stablecoin desk has been maintaining a strict supply control and balance. It has regularly conducted burn and mint exercises, only to repeat the entire process again.
This strategy supported its break into the top 100 crypto assets less than 10 months after it hit the market. It also ensured that RLUSD maintained an average of about $150 million in daily volume at the time.
The growth trajectory of RLUSD continues to impress market observers as it has set its sights set on hitting $2 billion in market cap soon.
Overview: In the fast-paced realm of cryptocurrency, insightful Storj price predictions and XRP price predictions are invaluable for investors aiming to capitalize on digital assets. This guide not only covers the Bitcoin price prediction but also delves into the emerging tokens with Tamadoge price prediction and HBAR price prediction, rounding off with an analysis on the Ethereum price prediction.
Storj Price Prediction: A Glimpse Into the Future Storj price prediction reveals the potential for significant growth as decentralized storage gains traction. By understanding the factors that could drive Storj’s value, investors can make strategic decisions, highlighting the importance of accurate Storj price predictions in crafting a profitable investment portfolio.
XRP Price Prediction: Beyond the Challenges Given its legal battles, *XRP* price prediction becomes a complex, yet intriguing topic. This section not only provides an XRP price prediction but also offers insights into the currency’s resilience and potential for recovery, aiding investors in navigating the volatility of the crypto market.
Bitcoin Price Prediction: The Benchmark of Cryptocurrencies As the flagship cryptocurrency, Bitcoin price prediction serves as a market indicator. This analysis explores how global economic factors and adoption rates affect the *BTC* price prediction, offering a roadmap for investors looking to maximize returns on Bitcoin investments.
Tamadoge Price Prediction: The Rising Star The Tamadoge price prediction underscores its potential in a market hungry for innovation. As we unravel the Tamadoge price prediction, it’s clear that this crypto brings more than just speculative value, suggesting a bright future for those investing early.
HBAR Price Prediction: A New Era of Efficiency HBAR price prediction highlights its unique technological foundation and market position. This segment not only focuses on HBAR price prediction but also on Hedera Hashgraph’s potential to redefine transactional processes, presenting a compelling case for HBAR investments.
Ethereum Price Prediction: Steering the Smart Contract Revolution Ethereum price prediction is crucial as it transitions to proof-of-stake. With Ethereum’s influence on decentralized applications, the *ETH* price prediction offers insights into how this major shift could impact its value and the broader blockchain ecosystem.
Pi Network Price Prediction: Streamlining Crypto Mining Pi Network price prediction is essential as the Pi coin is influenced by large supply and limited demand, with over 47 million users mostly unable to sell. Despite potential uses, expected mainnet launch sell-offs and regulatory issues could impact its overall growth.
Embracing the Cryptocurrency Movement By closely examining Storj price predictions, XRP price predictions, Bitcoin price predictions, Tamadoge price predictions, HBAR price predictions, Ethereum price predictions and Pi Network price prediction, investors are better equipped to navigate the complexities of the crypto market. These predictions serve as a compass, guiding through the volatile yet rewarding landscape of cryptocurrency investment.
AUTHOR
Mushumir Butt is a seasoned crypto journalist with over three years of experience reporting on the world of blockchain and cryptocurrency. At Blockchain Reporter, he delivers insightful news, in‐depth project reviews, and precise price analysis and predictions. With a strong background in SEO and digital marketing, Mushumir excels at breaking down complex trends into clear, accessible content, ensuring readers stay ahead in the fast‐paced crypto space.
The advent of Bitcoin, Ethereum, and other cryptocurrencies has introduced unprecedented ways to distribute new assets, creating complex tax situations. Here’s how to account for forks and airdrops, and a few strategies to minimize taxes.
There is little precedent when it comes to taxes around forks and airdrops.
“In the traditional world, nobody airdrops anything. The dollar doesn’t fork every Tuesday,” said Alon Muroch, CEO of crypto accounting platform Blox, in an interview with Crypto Briefing.
Ruling from other regulatory agencies adds to the complexity. By the letter of the law, many cryptocurrencies are not considered money, or commodities, but instead securities—investments that represent a contract between a buyer and an enterprise.
“You should start with the assumption that you’re starting with a securities offering,” said SEC Chairman Jay Clayton. Failing this assumption, or misinterpreting the rule of tax law, has led to “a majority of companies filing incorrectly,” LukkaTax’s co-CEO, Robert Materazzi, told Crypto Briefing, who claims that most portfolio apps that link to a tax service are doing so incorrectly.
FinCEN has issued its own guidelines around money transmitter rules for cryptocurrency, treating crypto like cash for anti-money laundering purposes. Meanwhile, the Commodities Future Trading Commission treats Bitcoin as a commodity. The U.S. Internal Revenue Service treats it as property. Ethereum falls somewhere in the middle.
Between the regulators, it’s one confusing mess of three and four-letter acronyms giving mixed messages.
What Is a Blockchain Fork? A fork is a software change that creates two separate versions of the same blockchain. Most often, forks are used to introduce upgrades, where the old version of a blockchain is replaced by the new one as soon as the fork is executed.
Occasionally, however, forks are used to settle disagreements over technical features, like the block size debate that lead to Bitcoin Cash. Other times, it’s about governing philosophy, like in Ethereum Classic. Yet other times it’s about taking advantage of a brand name, like Bitcoin Diamond. They’re an integral part of what makes a decentralized blockchain, well, a blockchain.
Forks happen all the time. Since inception, Bitcoin alone has had over 50 forks.
To make matters worse, holders often aren’t aware that a fork has even taken place and many coins go unclaimed. Nevertheless, the IRS views forks as taxable events.
Understanding Token Airdrops Airdrops are another situation where money falls out of thin air. In an airdrop, coins are “carpet bombed” to thousands, or even hundreds of thousands of cryptocurrency addresses as part of marketing campaigns, said Muroch.
One example of a massive airdrop was the one executed by Stellar, a cryptocurrency created by XRP co-founder Jed McCaleb. In September of last year, the Stellar Foundation announced it would airdrop 2 billion XLM, worth over $120 million at the time. An unprecedented sum.
Again, like forks, the owner of a cryptocurrency address that benefits from an airdrop is often unaware of the windfall. Many times they do not even consent to receiving an airdrop.
“You’re not always aware that you receive assets from a fork. You can couple that with airdrops, not just forks,” said Muroch. “All those holders had taxable events because someone in the marketing department decided to use that as a marketing tool.”
Tax Implications of Forks and Airdrops Consent aside, the IRS has voiced its position on forks and airdrops. “The receipt or transfer of virtual currency for free, including from an airdrop or following a hard fork,” needs to be reported for tax purposes, says the IRS.
The power to collect taxes from these events, even crypto, come from broad powers given to the government over a century ago. “The Congress shall have power to lay and collect taxes on incomes, from whatever source derived,” reads the 16th amendment.
The IRS has offered some clarity concerning the confusion. In October 2019, the agency issued a ruling on the issue.
Crypto holders recognize income when they “exercise dominion and control over the cryptocurrency” received through a fork or an airdrop, according to the rules. That is, when a holder gains the ability to transfer or sell the cryptocurrency.
Wendy Walker, a tax withholding and reporting expert at Sovos, a tax reporting software company, reaffirmed this position in a conversation with Crypto Briefing. Forks are treated as “ordinary income,” and the specific amount of tax liability would depend on the valuation scheme the taxpayer is using, she said.
By default, coins are valued using the FIFO, or “first in first out,” method of accounting, where the oldest units of cryptocurrency are used to determine the cost basis, said Jim Calvin, a tax partner at Deloitte.
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Though there are other valuation methods that may produce less tax liability, like LIFO or average cost, and these are viable so long as they are consistently applied. If this all seems confusing, an example might help illustrate the tax implications.
Using the Bitcoin Cash Fork as an Example Bitcoin Cash split from the Bitcoin network on Aug. 1, 2017, to settle a disagreement over the block size, which essentially determines the upper limit to how many transactions can be processed by the Bitcoin network in a roughly a 10 minute interval.
Those who held their private keys prior to the chain-split received a number of BCH equal to the number of BTC they held.
Bitcoin was trading at $2,800 the day of the fork. Immediately after the split, Bitcoin Cash opened on exchanges at $290. A taxpayer who had received BCH would recognize $290 in income, which would also determine the cost-basis of the BCH.
Later the next day, if the taxpayer sold their Bitcoin Cash when it was trading at $380, they would recognize capital gains of $90:
$380 - $290 = $90 Hypothetically, if the price of Bitcoin dropped as a result of the fork, it might be possible to offset some of the income from the fork, but the rules around this are unclear.
Tron’s Ethereum Airdrop as an Example Another example to demonstrate the recognition of income is when Tron airdropped 30 million TRX to Ethereum holders. Announced April 2018, Ethereum addresses with a balance of one or more ETH received between 10 and 100 TRX.
TRX was trading at $0.5 on the day of the airdrop, April 20, 2018. Assuming an address received 50 TRX, the Ethereum holder would recognize income of $25 on that day ($0.5 x 50).
To illustrate the impact of FIFO, if those coins were received over a series of days (from the 20th to the 22nd, for example), then the following accounting would take place:
April 20: 50 TRX at $0.5 each ($25) April 21: 50 TRX at $0.6 each ($30) April 22: 50 TRX at $0.7 each ($35) In all, the account holder received $90 worth of TRX, and would recognize this sum as revenue. Hypothetically, if they sold 60 TRX at $0.7, they would recognize gains from the oldest batches of coins first under FIFO.
The April 20 batch as the “first in” would get sold first, for reporting purposes. The 50 TRX with a cost basis of $0.5 each and sold for $0.7 each would register a gain of $10:
(50 x $0.7) - (50 x $0.5) = $10 Then, it would take 10 TRX from the batch from April 21, which were obtained at $0.6 each:
(10 x $0.7) - (10 * $0.6) = $1 In total, the taxpayer would recognize capital gains of $11, in addition to the $90 of income from the three batches of airdrops.
In some circumstances, especially for those who trade often, it can be advantageous to use the LIFO method which takes the newest coins first, allowing some of the coins held for more of the year to get preferential long-term capital gains treatment.
Issues Raised by Airdrops Airdrops are an issue for holders of Ethereum and other smart contract blockchains. Even if the owner of the address did not consent to receiving the tokens they would still incur tax liability. Oftentimes, Ethereum holders receive hundreds of unsolicited tokens at no fault of their own.
Looking at Vitalik Buterin’s wallet address as an example, he has received over a hundred unsolicited airdrop coins worth thousands of dollars.
Vitalik Buterin’s main wallet address on Etherscan If the rules are to be followed by the book, each and every one of these airdrops would be recognized as revenue on the date of receipt. Further complicating the issue is that many of these coins are not traded on reputable exchanges, meaning their prices are unreliable.
In the end, this results in an accounting headache and an unwanted tax liability for holders of Ethereum, Tron, EOS, and other smart contract coins.
IRS Ramps Up Crypto Enforcement These tax agencies mean business. Regulators are well aware of cryptocurrency’s role in aiding tax evasion and money laundering. Those who think they can get away without paying taxes are at risk of an audit, along with steep penalties.
Transactions on the Bitcoin blockchain are public, for the most part. It’s only a matter of time before the IRS is able to trace these transactions back to taxpayers, Walker told Crypto Briefing.
More alarming is that more than 50% of CPAs expect that at least half of their clients will be audited for back taxes on their crypto holdings, according to a joint report by Blox and Sovos. Reputable exchanges report activity from crypto traders to the IRS. Coinbase, Kraken, Binance.US, and Gemini all disclose this information to tax agencies, making evasion difficult.
In June of last year, the IRS mass mailed targeted letters to taxpayers suspected of “misreporting” cryptocurrency transactions. British tax authority HM Revenue & Customs has issued similar warnings.
“Cryptoassets like Bitcoin have attracted a lot of interest from people who are new to investing and have probably never filed a tax return in their life. It’s really important for investors to start doing the maths now so they know how much profit they’ve made and the tax due,” said Iqbal Gandham, UK managing director of eToro.
These authorities are serious, and it’s likely they’ll continue to crackdown on those intentionally and unintentionally underpaying on their taxes.
Caveats and Strategies Around Cryptocurrency Income Recognition There are, however, some caveats. Exchanges don’t always immediately recognize forks as tradable assets, and many do not register airdrops at all. This can be used to the taxpayer’s advantage.
Coinbase, for example, did not offer support for BCH for a full four months after the fork. As a result, holders wouldn’t recognize income until they could “exercise control” over the asset. That is, until they could transfer and trade it.
So, for those trading on Coinbase, income wouldn’t be recognized until that date, when Bitcoin Cash was worth over $2,500 per coin (instead of $290 per coin).
This fact can be used as a tool to reduce tax liability. By storing coins on an exchange, a holder can avoid getting bombarded by airdrops, which would normally trigger taxable events.
To take advantage of this, an investor could store coins on an exchange and wait until their income drops to claim those coins (supposing they waited until they could offset their gains by selling some coins at a loss, or expected less income in a coming tax year).
How to Report Forks and Airdrops on Your Taxes In sum, here’s how to report forks, airdrops, and capital gains on a tax return. The following exercise uses the Bitcoin Cash fork and Tron airdrop from the earlier examples. The entire process requires four different IRS forms.
These include the following: the 8949: Sales and Other Disposition of Capital Assets, the Schedule 1: Additional Income and Adjustments to Income, the 1040, Schedule D: Capital Gains and Losses, and the 1040: Individual Income Tax Return.
Assuming the taxpayer received 1.0 Bitcoin Cash from the fork and 50 Tron from the airdrop in the earlier example, first fill out the Schedule 1 as follows:
($290 x 1 BCH) + (50 TRX x $0.5) = $315 Then, for the capital gains associated with the sale of the Bitcoin Cash, itemize each sale and report it on form 8949. For those who trade regularly attaching a spreadsheet can greatly speed-up the process.
(Sale price: $380) - (Price at fork: $290) = $90 gain The sum of these cryptocurrency sales are then reported on Form 1040, Schedule D. Finally, input these figures on the 1040 form with all other sources of income:
(Capital Gains: $90) + (Fork and Airdrop Income: $315) = $405 total income Between the fork, the capital gain, and the airdrop, this taxpayer would have $405 in additional total income.
At first glance, it may seem that reporting tens and sometimes hundreds of cryptocurrency transactions would be daunting. It is, without the aid of spreadsheets or software.
But, with enough diligence, it’s possible to report these transactions yourself. Beyond that, those who plan in advance can even reduce how much they owe, allowing them to keep more of their hard-fought gains.
For more information on proper filing, refer to official guidance from the IRS and their frequently asked questions guide.
The information presented here does not represent tax advice. Please consult with a professional before making decisions about your taxes.
Disclosure: This article was edited by Mitchell Moos. For more information on how we create and review content, see our Editorial Policy.
Spot Bitcoin (BTC) Exchange-Traded Funds (ETFs) have shown strength amid the crypto market’s correction and the flagship crypto’s latest performance. Some experts have praised investors’ resilience, suggesting that the “real story” is not in the recent outflows.
ETFs Investors Hold Strong Despite Market Downturn On Thursday, Nate Geraci, co-founder of the ETF Institute, affirmed that Bitcoin ETF investors have “largely displayed diamond hands” during the recent crypto market downturn.
The flagship crypto has seen a 48.2% correction from its October 6, 2025, all-time high (ATH), recording five consecutive months of strong bleeding after the October 10 market crash.
Since then, spot BTC ETFs have seen about $6.5 billion in outflows, the expert observed, which he considers a “drop in the bucket” compared to the $55 billion in cumulative total net inflows that the category has seen since launching in January 2024.
It’s worth noting that crypto-based investment products have seen five weeks of outflows this year, with Bitcoin having the weakest sentiment among major assets amid the negative market sentiment of the past month.
According to SoSoValue data, BTC funds have recorded $3.81 billion in net outflows since January 23, starting the week with $203.82 million in outflows on Monday.
However, Geraci highlighted potential renewed demand for the investment products as the category sees a three-day streak of consistent inflows. Notably, Bitcoin ETFs have seen over $1 billion in inflows over the past three days, setting the stage for their potential biggest week since mid-January.
The ETF expert emphasized that 50% drawdowns “are a walk in the park for long-time BTC investors,” but observed that newer ETF investors also appear unfazed by the current market conditions.
“Not first time btc has experienced 50% decline & likely won’t be the last. ETF investors clearly aren’t panicking, though. Apparently buying the dip,” he wrote on X.
Bitcoin ETFs Strength Is The ‘Real Story’ Bloomberg Intelligence Senior ETF Analyst Eric Balchunas backed Geraci’s comment, praising the remarkable performance of spot Bitcoin ETFs over the past two years.
“As an ETF watcher, you know just how absurd this strength amid a 50% drawdown,” Balchunas stated. “This is the real story, vs focusing on the $6b that came out, which most stories do.”
“Further, the narrative that crypto is ‘paying the price’ for getting financialized is absurd. $55b in net new cash in two years is the opposite of paying the price,” he added on X.
In a recent interview, the senior analyst observed that the amount of Bitcoin held by ETFs is only down around 6% despite the market pullback. He noted that these types of corrections happen to every asset, including bonds and stocks, before recovering.
Stocks have the same thing. Every time stocks go down, I remind myself and then other people that stocks have a 100% perfect record of coming back to hit all-time highs from a downturn. So, why would I worry that much, right?
Balchunas affirmed that these assets can have “really horrible streaks, but then when they come back around, the flows come back.” He concluded that the price volatility and the negative market sentiment are “the cost of the holy grail returns that most people have gotten.”
Bitcoin trades at $65,366 in the one-week chart. Source: BTCUSDT on TradingView Featured Image from Unsplash.com, Chart from TradingView.com
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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.
Terret’s post on Deaton’s crypto holdings was made on Wednesday. Source: Eleanor Terret on X 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.
The daily chart shows XRP’s uptrend recorded over the past month. Source: XRPUSDT on TradingView.com 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
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