According to Farside Investors’ data, Fidelity’s FETH came second with $54.5 million in inflows, while Grayscale’s mini-Ether ETF saw $3.9 million. The rest of the US ETF issuers either saw zero or negative flows. It seems the big boys are choosing their favorites! š¤
In its latest report, the on-chain analysis firm Glassnode graced us with an analysis on the Stablecoin Supply Ratio (SSR). This is the golden ratio, the secret sauce that measures how much Bitcoin is out there compared to stablecoins. Yep, itās all about the stablecoins tied to the US Dollar, not some random crypto no one knows. š
This recent push has placed the asset a mere $2,000 away from its all-time high, prompting renewed attention from traders, analysts, and possibly a few wizards trying to conjure up some market magic. š® While price movements often attract headlines, on-chain data has started signaling deeper market activity, which is just a fancy way of saying that the whales are up to something. š³
Van Code, in his usual tone of āIām-not-saying-Iām-a-genius-but-actually-I-amā, boldly declared that Rippleās move could make them the worldās first crypto bank. *Cue dramatic music* Heās talking about Ripple possibly holding reserves directly with the Federal Reserveāno need for those pesky commercial banks. That means Ripple could offer a full suite of financial products, including FDIC-insured deposit accounts (yes, *insured*) and even crypto-backed loans. Imagine lending against your XRP. Sounds like a crypto dream, right? Well, Van Codeās ready to call it a āparadigm shift,ā because nothing says ārevolutionaryā like Fed-approved crypto banking.
Bitcoin went on a little adventure and broke past the $105,500 resistance like it was no big deal. The bulls, of course, joined the party and pushed the price above $108,000, causing some excitement. But wait, things got a bit too hot, and the bears showed up like that one party crasher nobody invited. A high was hit near $110,578, and now weāre just… consolidating. š
Commit the following to memory, if nothing else: XRP, much like an overdramatic Russian aunt, refused to disgrace herself below $2.00. With theatrical aplomb, she scaled $2.020 and $2.080, clutching resistance levels as though they owed her money.
According to CasiTrades, who studies the charts with the devotion of Lydia Bennet reading scandalous novels, recent price action is not evidence of distress, but rather a coy retreatāone calculated to ensnare the attention of both suitors and skeptics. Indeed, as the coin pirouettes towards $1.90, it appears to have entered that most fashionable of neighbourhoods, the Fibonacci Retracement zone, specifically the 0.5 marker. I daresay, Fibonacciāwere he amongst usāwould be clutching his pearls at the display!
The principal architect of this uproar? None other than Wyomingās Stable Token Commissionāpossibly the first American governmental body not entirely occupied by cattle and existential dread. Aptos, amongst a positively plebeian field of blockchains, seized the highest possible score (32!), thus ensuring its place at the shortlisting ball for the illustrious WYST stablecoin pilot.
As the news spread like wildfire, traders and investors scrambled to get in on the action. The rally, it seemed, had been triggered by SEI breaking out of a six-month-long descending broadening wedge pattern. And what a breakout it was! The cryptocurrency had recovered from its monthly low of $0.1596 on June 17, marking a 35% jump in just three days. š¤Æ
The analyst starts by addressing the mood of the masses. Apparently, retail comment threads have turned into a digital version of a high school cafeteria, where everyone is complaining about how Doge has been “doing nothing for months.” But Cantonese Cat, with the wisdom of a seasoned trader, points out that this is exactly what bull markets are designed to do: “A lot of people are getting really bitter about Doge ā¦ thatās exactly how higher highs and higher low type situations are supposed to get you all frustrated. This is still a bull trend until proven otherwise.” š