Crypto news

XRP’s price is currently on a downward spiral, dropping 0.97% in 24 hours and 5.4% this week. It’s like watching a toddler’s temper tantrum, but with fewer snacks. 🍫

Marked with a flourish on October 17, this ‘ChinaAMC Solana ETF (03460)’ is set to premiere on October 27, waltzing onto the Hong Kong Stock Exchange. And hold your lorgnettes-this makes Solana the third coin in the region to achieve spot ETF stardom, following Bitcoin and Ethereum-an aristocratic trio, if you will.

Asia’s three major stock exchanges are actively tightening scrutiny of certain listings. Now the Executive Order specifically addresses crypto asset treasury (DAT) companies. These companies are looking for traditional corporate organization, according to Bloomberg. This opposition directly challenges a major corporate crypto model worldwide. As a result, the market is now closely following regulatory responses throughout the region. 🤷‍♂️

On a Tuesday as ordinary as a turnip, Federal Reserve Governor Christopher Waller-a man of such gravitas he could make a spreadsheet blush-stood before the Payments Innovation Conference in Washington, DC, and uttered words that would make the ghosts of central banking past faint with shock. “A new era has begun!” he declared, his voice echoing through the halls like a prophet in a bureaucracy. 🗣️

It’s as if Solana, Bitcoin, and XRP are the three musketeers of the filing world, each brandishing over 20 applications, while Ethereum and multi-asset baskets aren’t just standing around; they’ve got double digits of their own. One might say the winds of regulated crypto exposure are blowing a little stronger, with both the institutional titans and the retail thrill-seekers jumping aboard this digital express. 🚀💸

On the fateful day of October 21, the crypto market briefly donned its finest raiment, with Bitcoin strutting past $113,000, Ethereum reclaiming its $4,000 throne, and BNB soaring above $1,100. But, alas! The gods of volatility had other plans. By the wee hours of October 22, the charade was over, and the market lay prostrate, its gains surrendered to the voracious maw of profit-taking. 🕳️💰

Higher revenues, you say? Ah, the on-chain activity hums like a busy marketplace, yet one must wonder-is it a feast or a mere mirage? 🏜️💸

Bitcoin’s price has made a strong recovery since the October 10 crash, but not everyone is convinced. One notable skeptic is a Bitcoin OG who earned $200 million by shorting BTC ahead of the October 10 sell-off, which was reportedly sparked by President Donald Trump’s aggressive tariff announcement on China. On Tuesday, the whale placed a new bearish bet, swiftly increasing it to a $234 million short position on BTC via the decentralized exchange Hyperliquid, according to data from Arkham. The liquidation price for this short is $123,000, the price point at which the position will face a margin call and be forcibly closed by the exchange. The new short position emerged as BTC’s price rally from the Oct. 10 low of about $104,000 stalled near $114,000 on Tuesday. Since then, the cryptocurrency has pulled back to $108,500, according to CoinDesk data.

While nearly a million hardworking souls in Washington face either idleness or unpaid service – a truly lamentable situation – the Federal Reserve, fortunately, continues its operations, unburdened by the follies of Congress. They may, however, be forced to make weighty decisions with an imperfect understanding of the economic climate. A most precarious position, indeed.

This latest slump follows one of the most brutal months of the year. The market has seen around $370 billion in value evaporate, with a staggering $19 billion in leveraged positions getting liquidated. As if that wasn’t enough, $65 billion in futures open interest was wiped out, leaving traders to reset their calculators to early-2025 levels. It’s like someone hit the “restart” button, but nobody asked for it.