A significant accumulation trend is underway for XRP, with crypto whales and large holders increasing their positions, indicating rising confidence. Analysts like Kyle and Ali Martinez highlight that over 300,000 addresses now hold 10,000 XRP, while wallets with 10M–100M XRP have added 900M tokens in a month. This bullish activity coincides with expectations of an XRP ETF (90% approval chance) and the nearing resolution of the Ripple-SEC lawsuit, both potential catalysts for a price surge. Technical analyst Dark Defender predicts a five-wave rally, targeting $3, $4.4 (new ATH), and $6.3, with $1.88 as key support. Currently trading at $2.12, XRP’s outlook remains optimistic despite a minor dip.
about XRP Whales Accumulate as ETF and Lawsuit Optimism GrowsKyle
0 posts last weekBitcoin Price Crash Driven by Hedge Fund Exit from Cash and Carry Trade
Bitcoin’s recent price crash, following its all-time high on January 20, has been attributed to hedge funds abandoning a low-risk yield trade involving spot ETFs and CME futures. Analyst Kyle Chassé noted that the collapse of the premium on Bitcoin futures has led to record outflows from US spot Bitcoin ETFs, with losses primarily affecting new traders who entered the market recently. Despite the sell-off, some analysts suggest this drop could indicate a potential bottom for Bitcoin’s price.
about Bitcoin Price Crash Driven by Hedge Fund Exit from Cash and Carry TradeBitcoin Price Plummets as Cash and Carry Trade Unwinds
Bitcoin’s price has plummeted to a three-month low, driven by the unwinding of a cash-and-carry trade strategy used by hedge funds, resulting in over $1.9 billion in sales. Analysts suggest that while some attributed the decline to Trump’s tariff policies and the Bybit hack, the primary factor is the withdrawal of liquidity as funds exit unprofitable positions. Key support is noted at $70,000, where long-term holders may stabilize the market.
about Bitcoin Price Plummets as Cash and Carry Trade UnwindsGoogle Enhances Bitcoin Accessibility with Wallet Integration for Users
Google is working to integrate Bitcoin wallets into its ecosystem, aiming to simplify transactions for users familiar with traditional platforms. Announced by Kyle Song at the Hong Kong Bitcoin Tech Carnival, this initiative seeks to reduce technical complexities and enhance security through methods like Zero-Knowledge Proofs. If successful, it could significantly boost Bitcoin adoption and transaction volume, similar to using Google services like Gmail.
about Google Enhances Bitcoin Accessibility with Wallet Integration for UsersGoogle Aims to Simplify Bitcoin Wallet Access for Mainstream Users
Google is working to enhance Bitcoin wallet accessibility by allowing users to log in with their existing Google accounts, aiming to make Bitcoin as user-friendly as web2 applications. The initiative, discussed by Kyle Song at the Bitcoin Tech Carnival, focuses on improving security and bridging traditional finance with blockchain technology. Collaborations with various web3 projects and the upcoming launch of spot Bitcoin ETFs in 2024 are paving the way for this integration.
about Google Aims to Simplify Bitcoin Wallet Access for Mainstream UsersGrayscale Proposes Ethereum Staking Rule Change to Boost ETF Appeal
Grayscale is seeking SEC approval for a rule change that would allow its Ethereum Trusts, ETHE and EZET, to stake ether holdings, potentially generating rewards and attracting investors amid competition from other Ethereum ETFs. This move comes as ETHE faces nearly $4 billion in outflows, while rival ETFs have seen significant inflows due to lower fees and institutional support. If approved, the change could enhance the appeal of Grayscale’s funds and help stem further outflows.
about Grayscale Proposes Ethereum Staking Rule Change to Boost ETF Appeal