Fresh on-chain data from Glassnode, shared on X social media, shows that the portion of the XRP supply in profit has decreased to 58.5%. This is the lowest level ever recorded since November 2024, when the cryptocurrency was trading near $0.53. What’s alarming about this low stat is that the decline in investors’ profit is happening despite the altcoin currently trading more than 4X its price in 2024. 🤡📈
Renaissance Technologies (Rentec), the legendary quantitative powerhouse known for treating markets like solvable math puzzles, recently revealed a notable position in Strategy (MSTR) in its latest 13F filings. 🤯
The latest Federal Reserve minutes, with all the subtlety of a hammer, signaled caution-yes, caution!-regarding inflation and labor market chaos, causing traders to frantically reprice their bets. Like a bad soap opera, inflation fears and job market whispers spooked everyone, turning optimism into skepticism overnight. 📉
Meanwhile, across the desert, Abu Dhabi’s Mubadala Investment Company, that most enigmatic of sovereign wealth funds, chose this precise moment to splash $518 million on a Bitcoin ETF. A move that would make a Roman emperor raise an eyebrow, triple its Bitcoin exposure, and then promptly watch the market crash like a soufflé in a sandstorm. One must admire their audacity-or perhaps their delusion.
Crypto, the impulsive youth, panics at the first sign of tightening liquidity. Stocks, the grizzled factory worker, grin and bear it, fueled by institutional bribes-uh, I mean “earnings.” 💰
Galaxy Research reports that the boom was driven mainly by onchain lending-up from 48.6% four years ago to a hefty 66.9%. DeFi lending alone skyrocketed 55% to hit an all-time high of $41 billion. That’s a lot of digital IOUs driven by user incentives and shiny new collateral gadgets like Pendle Principal Tokens. 🎩
The planners, in a display of tact and not burnout, chose to refund rather than scramble, since, evidently, market clarity is about as elusive as a decent British comedy. This peculiarly titled spectacle was foreshadowed by the South China Morning Post, which seems ever eager to deliver the latest crypto soap opera.
Tuesday, Nov. 18, arrived like a cold wind, carrying whispers of despair for crypto ETFs. Investors, like weary pilgrims, drained capital from Bitcoin and ether products, while Solana, the rogue star, gorged on fresh liquidity. 🧨
The filings, which have once again thrust XRP into the limelight like a startled penguin at a tea party, suggest the investment product will launch sooner than a well-heeled investor can say “arbitrage.” The ticker? A mere “XRP,” as if the alphabet itself were in on the joke. 🐧
The numbers say yes, but let’s be honest, in crypto, “long-term” means “until the next meme coin drops.” 📈🤡