It seems the crypto community has been handed a new plot twist: XRP’s supply could be as scarce as a decent cup of coffee in a Bitcoin convention. A guy on X, who probably has a PhD in “Why Is My Portfolio Down,” claims that if XRP becomes the financial world’s new BFF, most of its tokens will vanish into institutional black holes. Because nothing says “I’m serious” like locking up your crypto in a vault shaped like a teapot.
The release was intentionally scheduled to coincide with the start of Pi Day (March 14th), as the team behind Pi has often used this date for important news. It’s still unclear if this year will follow that tradition.
Speaking to Joe Shew of the Crypto Consulting Institute, Mr. Edwards opined that Bitcoin is “closer to the bottom than the top,” a sentiment as clear as the weather in London. He cites on-chain metrics-those modern-day horoscopes of finance-as suggesting promise, though the price action remains as unconvincing as a jazz band in a tea shop. One might say the market is “constructive for long-term holders,” though the precise definition of “constructive” appears to be a matter of spirited debate.
Let’s all gasp in unison: NIGHT’s holder count has grown 300% since its Glacier Drop launch. Groundbreaking! Next they’ll tell us water is wet and crypto Twitter is full of hype bots. At this rate, NIGHT will power the next blockchain-based toaster. Innovate!
Bitcoin stirs like a slumbering beast, its digital pulse quickening as it inches toward a $3 billion threshold, a point where the market’s nerves fray and fortunes rise or fall with the flick of a candle.
During a recent chat on the PBD Podcast, Scaramucci-man with a mouth like a cannon-declared Bitcoin the “largest by far” chunk of his portfolio. And when the price took a nosedive, he was out there like a hound on a scent, buying more coins. Seems he’s got a long game in mind, though I reckon his patience could rival a frog waiting for a fly in a drought.
A stronger dollar can tighten global financial conditions and often weighs on risk assets such as equities and cryptocurrencies. Higher oil prices-both Brent crude and West Texas Intermediate are hovering around $100 per barrel-reinforce inflation concerns and heighten expectations of interest-rate increases. Higher rates also detract from the attraction of such investments. One wonders if the market is merely playing a cruel game of musical chairs.
According to the ever-watchful Glassnode, who posted their findings on the mystical platform X, Bitcoin and its crypto cousins have parted ways like a badly choreographed dance routine. The “spot trading volume,” a metric as straightforward as a Discworld troll, shows who’s still got the moves.
On a Thursday that shall henceforth be remembered as the day the financial overlords condescended to mingle with the crypto rabble, BlackRock unveiled its ETHB. The fund, with a hauteur befitting its lineage, promises to “provide investors with exposure to spot ether while potentially generating income by staking a portion of its ether holdings.” How generous of them to allow the plebeians a glimpse of their gilded cage.
According to the oracles at crypto.news, Ethereum (ETH) price leapt nearly 6% to $2,144 during the mystical hours of Friday morning in the East, before settling like a sated cat around $2,100. At this valuation, the second-largest crypto asset by market cap sits 11% above its weekly low and a staggering 18% above its February nadir. A resurrection, if you will, from the ashes of despair.
