Imagine this: Hyperliquid nabbed a whopping 35% slice of all blockchain revenue in July, leaving Solana, Ethereum, and BNB Chain consoling each other with a collective “Well, at least we still have each other.” VanEck’s cryptic scribes, led by Matthew Sigel-head-honcho and professional market tea-leaf reader-put it thusly:
Pepe’s price action finds itself in quite the predicament, balanced as delicately as a teacup on the edge of a saucer. After what can only be described as weeks of relentless selling, traders are fixated on a critical support zone. A sharp reversal, one might call it a theatrical turn, followed a bearish divergence between price and RSI in mid-July. 🎭
According to a recent CryptoQuant Quicktake (which, let’s be honest, reads like a modern-day oracle), an analyst dissected the trend of altcoin inflows heading straight for Binance. They call it the “Exchange Inflow Transaction Count” – a fancy term for tallying every time an investor dumps their digital coins onto a centralized exchange. Because nothing says “I’m about to sell” like piling your crypto onto a platform. Who would have thought? 🤷♂️
It turns out everyone’s flocking to networks like Tron and BNB Chain because moving USDT there is…easy. Shocker. And in countries where their actual money is doing the financial equivalent of a trust fall, USDT is stepping in as the unofficial bank. Daily payments, remittances… it’s basically Western Union, but with more blockchain. 💸
A social media chatterbox recently claimed Ripple already coughed up the $125 million and shouted, “No appeals here!” But hang on-they didn’t file the official “we’re done” paperwork, oh no! Why’s the SEC just twiddling their thumbs and not holding a vote? It’s like waiting for Godot with more drama. 🎭
Bitcoin is having a little identity crisis. Oversold signals flashing like a neon sign at a discount store, ETF inflows doing a disappearing act, and spot sales so frantic they look like a garage sale on steroids. Traders? They’re pulling back faster than a cat from a bath. Liquidity’s thinner than grandma’s old tights. The price? Slipping, sliding, barely holding on-it’s basically doing the limbo under $114,000, and it ain’t loving it. 🎢🕺
Despite a modest dip to around $0.575 (guess nobody told the bulls that silence is golden), July’s rebound and the ecosystem’s stubborn might have set the stage for a glorious upswing. The whole scene has a whiff of “hey, we’re still alive,” mixed with the aroma of potential profits.
Investors, like eager patrons awaiting a theater premiere, are buzzing with optimism ahead of the SEC’s forthcoming status report on August 15, which may, at long last, curtain call Ripple’s saga of legal entanglement.
One might have dared to hope for a recovery, a blossoming of bullish spirits on the daily chart. But no! Fate, it seems, delights in such cruelties. Rejected, utterly rejected, at the very doorstep of the 50 EMA. Now, it sits dejectedly at $0.0000121, diminished by nearly 3% – a loss so slight it’s almost comical, yet so complete it’s… discouraging. The market, one observes, has lost all enthusiasm. It had dared to poke its nose above $0.0000118, to flirt with those mysterious EMAs, even… even *gasp*… attempt to show some buying pressure! Such boldness, only to be rewarded with disappointment!
This sudden drop in burn rate comes after a significant decrease in on-chain activity on the XRP Ledger 📊. It’s like people are suddenly not interested in playing the XRP game anymore 🤔. The number of XRP payments from one account to another has hit a two-month low of 727,329 📉. Yikes!
