Behold, the XRP, that enigmatic phoenix of the crypto realm, has ascended by a modest 7% since yesterday’s twilight. Yet, in the grand tapestry of the week, it has plummeted by 10.44%, a fall as graceful as a drunkard descending a staircase. 🥴
Ripple Is Quietly Building a JP Morgan Rival 🏦
The weekly tally? A paltry 46,597,909 SHIB, while the daily burn drowses at 1.3 million-a drop so minuscule, one might think the tokens are napping! 😴 The supply now stands at 589,246,313,129,194, a number so long it makes my quill weep. From a quadrillion, they say? Ah, but what is a quadrillion to a man with no wallet? 💸
This insightful dispatch comes courtesy of Theminermag, the premier publication for those brave souls who still believe mining is a sport-and perhaps a quaint hobby-amidst the chaos of institutional dabbling and ever-volatile digital gold.
Now, don’t you just love a good contrast? A bloodbath in the market, but lo and behold-green ETF columns, like little rays of sunshine poking through the gloom. This spectacle arrived precisely as the weekly BTC chart reached that magical zone traders have been tracking ever so diligently since the first quarter of the year. Bitcoin has made a valiant 32% retreat from its once lofty $129,000 peak, landing itself somewhere between $86,000 and $80,600. It’s almost like watching a drama unfold-who needs Netflix when you have this, right?
Behold, the key to investment’s alchemy lies not in mere governance or utility, but in the token’s ability to siphon value for its holders-like a well-tended garden, not a barren field. 🌱
Analysts, those modern-day prophets, have outlined the next moves and the most important support and resistance lines. One can only hope they’re not prophesying their own demise. 🕯️
Wedson believes that every major altcoin bull run has been fueled by a large influx of new money. He points out that between 2020 and 2022, crypto and Web3 companies received billions in funding, which then spread throughout the market. He argues that without this significant investment, it’s much less likely to see altcoins rise together in a coordinated way.
The market for tokenized assets is just a tiny morsel-$35 billion, a mere speck of dust in the grand mansion of global assets-but Big Money is watching, drooling. With partnerships like S&P Global and FTSE Russell, Chainlink is cushioning its bets for when the old world finally catches on to the grand on-chain revolution, or at least the illusion of one.
Michael Saylor’s company, Strategy, once MicroStrategy, has embarked on a perilous journey, purchasing Bitcoin with the fervor of a man clutching a lifeline, even as the market’s tempest rages. 🌩️💸