Galaxy Research reports that the boom was driven mainly by onchain lending-up from 48.6% four years ago to a hefty 66.9%. DeFi lending alone skyrocketed 55% to hit an all-time high of $41 billion. That’s a lot of digital IOUs driven by user incentives and shiny new collateral gadgets like Pendle Principal Tokens. 🎩
The planners, in a display of tact and not burnout, chose to refund rather than scramble, since, evidently, market clarity is about as elusive as a decent British comedy. This peculiarly titled spectacle was foreshadowed by the South China Morning Post, which seems ever eager to deliver the latest crypto soap opera.
Tuesday, Nov. 18, arrived like a cold wind, carrying whispers of despair for crypto ETFs. Investors, like weary pilgrims, drained capital from Bitcoin and ether products, while Solana, the rogue star, gorged on fresh liquidity. 🧨
The filings, which have once again thrust XRP into the limelight like a startled penguin at a tea party, suggest the investment product will launch sooner than a well-heeled investor can say “arbitrage.” The ticker? A mere “XRP,” as if the alphabet itself were in on the joke. 🐧
The numbers say yes, but let’s be honest, in crypto, “long-term” means “until the next meme coin drops.” 📈🤡
Behold! A video, unveiled days prior, now graces their channels, a cinematic opus for the Pioneers (a title grander than “user,” yet suspiciously vague). It reveals the arcane rituals to harness the latest upgrades. 🎥🔮
According to the ever-watchful folks at Lookonchain, this trader isn’t just dipping his toes in the short-selling pool-he’s doing a cannonball. With a 20x short position on XRP worth $27.4 million, he’s essentially saying, “I’ll take ‘Bad Bets’ for $27 million, Alex.” And just for fun, he’s also shorting Bitcoin and ZEC with positions worth $148.5 million and $20.4 million, respectively. Because why stop at one bad idea when you can have three? 🎲💸
Turns out, Fibonacci folk have their charts out and reckon the next targets are the fancy $0.29 and $0.34 levels. Ooh la la! Someone’s aiming for the stars… or at least the next few cents.
Will the selling stop? Or will it keep going like a never-ending meeting with HR? 🤔 If it doesn’t ease up, here are some support levels to watch-because even Bitcoin needs a safety net.
The FOMC minutes are the Fed’s version of a “transcript” from a secret meeting, where they probably discussed how to confuse the market. These minutes could be the key to unlocking rate cuts, or maybe just another round of “wait and see” nonsense. 🐸
