As of this very moment, the digital darling clocks in at a paltry $2,919, a 0.5% dip in the last 24 hours. Once a titan, boasting a peak of $4,946 in the distant August past, now it’s lost a substantial 41% of its former glory. The fall of empires, I tell you! 🏛️
This week’s market hiccup resulted in XRP briefly revisiting levels most of us would rather forget. Six percent down, just like that. Lost the battle for $2.00, it did. A tragedy in three parts, really. Despite the continued (and frankly baffling) interest from the institutions – presumably they’ve got better things to do, like polishing their server farms – the price kept falling. It’s always the ones you least suspect, isn’t it?
Like a determined but slightly tipsy tightrope walker, XRP has managed to stay above $1.850, defying logic and the laws of financial gravity. It even climbed past $1.880 and $1.90, which is like a toddler scaling a couch-adorable, but not exactly Everest.
“Is HYPE in the Assistance Fund
In what can only be described as a startling coup de grâce as dramatic as a Charles Dickens novel, the proverbial money whale of institutional finance has lobbed its figurative anchor onto the blockchain with the unveiling of the My On-Chain Net Yield Fund (MONY). This Siamese venture, likened to a rather staid money market fund, elegantly sidesteps the tedium of traditional systems by donning its illustrious Ethereum badge with a side-smile from JPMorgan’s Kinexys platform. Shares pirouette through the digital ether, trading speedily without the drag of the old financial flummox that is the traditional clearing system.
So, Exodus is diving headfirst into the payments pool with its USD-backed stablecoin, all while keeping things cozy inside its self-custodial app. Because nothing screams “everyday use” like a cryptocurrency tied to your morning coffee. ☕💰
So, it couldn’t hold $89,000. Shocker. It went down to $88,000. Then it went down further to $86,500! It’s like watching someone try to parallel park. Just a series of corrections and near misses. Though, someone jumped in around $85,000 – probably trying to catch a falling knife, these people. They’re always trying to catch falling knives.
This operational exposure underlies a valuation thesis that not only endows Hyperliquid with the gravitas of a layer 1 platform but echoes the bull case akin to those once applied to Solana. In Cantor’s ten-year model-as accurately predictive as a Naismith guide to local meteor showers-Hyperliquid conjures more than $5 billion in annual fees, valuing HYPE at a whooping 50x multiple. This raises HYPE’s market capitalization to astronomical proportions, promising public-market access via public record-breaking feats rather than mere token custody.
When Michael casually dropped his crypto favorites on social media, it was like sending a digital firework into the night sky. Responses ranged from “Bitcoin all the way!” to “Wait, XRP? Really?!” You’d think he revealed he’s secretly a wizard or something. Naturally, everyone chimed in, debating whether this is a sign of a market revolution or just another day in crypto chaos. 🗣️🔥
Virtuals Protocol [VIRTUAL], the star of today’s tragedy, has taken a nosedive of more than 10% in the past 24 hours. 📉 That’s right, it’s aligning with the technical outlook and network activity, which are both about as cheerful as a troll with a toothache. 😣