Observe, gentle reader, that the price of XRP lingers stubbornly above the supports of $3.05 and $3.10 – a feat of resilience, shall we say? In the past seven days, it hath bounced with surprising vigor from the aforementioned $3.00, daring to brush against $3.30! And lo, the volume of trade hath swelled by a most impressive 77%, nearing seven billion! A flurry of activity, indeed. One wonders what secrets motivate these merchants… 🤔
Glassnode’s “cost basis distribution heatmap” is basically a colorful mess of numbers and lines that analysts claim helps identify support and resistance levels. In layman’s terms, it’s a fancy way of saying, “Here’s where people bought their XRP and are now either panicking or grinning like maniacs.” The heatmap reveals a second major supply cluster at $3.26, where over 1.05 billion tokens were accumulated. For context, the $3.57-$3.58 range looks like a token wasteland with just 2.9 million tokens. If crypto were a party, that range would be the guest who forgot to bring snacks. 🍪
For lo, this pittance of a rise comes hot on the heels of Grayscale’s audacious filing for a spot Dogecoin ETF, under the ticker GDOG. A ticker, mind you, that sounds less like finance and more like a desperate plea for relevance. But relevance, it seems, is precisely what they seek-to bridge the chasm between the absurdity of meme coins and the solemnity of traditional finance. A marriage of folly and prudence, if ever there was one. 💍
Yes, Mike Novogratz, captain of Galaxy Digital and proud wearer of lucky Bitcoin socks, has unbuttoned his collar and prophesied thus: “If Satoshi’s coin taps one mil next year, don’t clap-cry, because Uncle Sam will be lying on the gurney with the dollar stuffed into every orifice.” In other words, buy the dip … in democracy. 🫠
On the 14th of August, Coinbase Institutional-whose prognostications are as eagerly awaited as Lady Catherine’s invitations-issued a report whimsically entitled “Altcoin Season Cometh.” Mr David Duong, that amiable oracle of global research, confessed:
Lest you think this is just another Tuesday on doom-scrolling Twitter, let’s recap the greatest hits. For twenty-plus years, Kiyosaki has written the same book in 50 languages while the plot twists remain stubbornly unchanged: traditional finance is the wicked witch, Bitcoin is the ruby slippers, and Toto is apparently an ETF. 🐕🦺
Ah, but let us not forget the wisdom of the great Bull Bear Spot, who, with a wink and a nod, links the coin’s ascent to the rising tide of market liquidity, a correlation as clear as the nose on one’s face! 🧐 The market, ever the fickle beast, remains engaged, and our dear Chainlink is set to break out, much to the delight of its many admirers.
Three sources who prefer to remain anonymous (because who wants their name attached to this?), told the FT that the firm, which already has its own stash of bitcoin (like a digital piggy bank), is talking to investors about possible deals. They’re hoping to follow in the footsteps of Michael Saylor and Strategy, who used corporate wizardry to hoard cryptocurrency. 🧙♂️
What’s obvious from this filing? Well, it’s a fresh twist-think of it as crypto’s version of minimalism, only with more blockchain and less clutter. WisdomTree is trying to make it easier to invest and less terrifying to lose your shirt. Smart, or just really good at playing with fire? You decide.
Apparently, WiseLink, a fintech firm in Taiwan, was all over this. They bought some three-year convertible notes and signed a memo to work on something called “bitcoin + cross-border finance.” 🤷♂️ Like, what does that even mean? Are we talking about Bitcoin ATMs in every country now?
