Eight trading days-barely enough time to brew a proper cup of tea-and XRP ETFs have amassed over $644 million. Canary Capital, Bitwise, Grayscale, and Franklin Templeton are gobbling tokens like a buffet you shouldnât be allowed to attend.
At the time of this scribbling, Bitcoin hovers near $91,700, a figure that has seen a 6% ascent in the past day, though it remains a shade diminished over the week. This modest recovery follows a precipitous tumble below $81,000, a fall as graceless as a debutante tripping at her first ball. Yet, the coin still languishes 27% below its October zenith of $126,000, a summit now as distant as a forgotten New Yearâs resolution.
So, what does this mean for crypto? Well, apparently, itâs all sunshine and rainbows. The magic formula here? A dovish macro policy (translation: lower rates) + a guy who owns a big chunk of Coinbase. Sounds like the recipe for a juicy bull run, right? According to Juan Leon at Bitwise (who sounds like the kind of guy who wears socks with sandals but knows his crypto), âIf Kevin Hassett becomes Fed Chair, the implications for crypto are strongly bullish.â Bold words, Juan. Youâre saying a guy whoâs publicly critiqued interest rates and has a stake in a crypto exchange is going to make crypto soar? No pressure, Kev.
Back in the spring, when things were smellinâ of roses đč and crypto promises, a passel of public companies decided to park their money in Bitcoin . Now? Well, the marketâs done a funny thing, and some of that fancy math ainât addinâ up no more. Their stockâs gone down, but their Bitcoinâs still there-and itâs lookinâ mighty tempting to turn that back into good olâ cash.
Upexi, steadfast in its determination, did embark upon this grand endeavour with a firm grip upon its ledger, directing its efforts toward the acquisition of more of Solana’s native sigils. Such ambition was not without hope of reaping a passive bounty, a common aim shared with the likes of those one might encounter among the Russian pastoral scenes-the gentleman farmer staking his claim to his patch of fertile earth.
The World Federation of Exchanges (WFE), a bastion of traditional wisdom in a world gone mad, has sounded the alarm. In a letter dripping with urgency, they decry the proliferation of these “stock tokens,” which masquerade as legitimate investments while lacking the very essence of what makes a stock a stock. “A plethora of brokers and crypto-trading platforms,” they write, “offer these fraudulent instruments, endangering both market integrity and the souls of investors.” đ±đŒ
“I say, it’s still jolly likely Bitcoin will top $100,000 before the year’s out, and perhaps even shimmy to a new high,” Lee chirped during a spot with CNBC on Wednesday, his tone as breezy as a summer’s day at Blandings. đ
Previously, these same analysts had deigned to award USDT a â4,â a rating that whispered of âconstrainedâ ability to cling to the dollar like a barnacle to a ship. But oh, how the mighty have fallen! The new rating of â5â plunges it into the abyss of âweak,â a word that drips with the sarcasm of a Russian novelist observing the follies of mankind. In their November 26 report, the analysts, with all the subtlety of a sledgehammer, cited Tetherâs increasing dalliance with âhigh-risk assetsâ-Bitcoin, gold, secured loans, corporate bonds, and âother investmentsâ-as the raison dâĂȘtre for this downgrade. đ€đ
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But, bless my soul, it appears this fad, these âDATsâ – Digital Asset Treasuries, they call ’em – ain’t holdin’ water so well anymore. Why, you’d think folks lost their minds watchin’ stock values tumble like a house of cards!
