Cryptonews

The rate of Ethereum (ETH) has risen by 0.63% over the last day. A triumph of sorts, though one might question the necessity of such a minor elevation. 🚀💸

Stablecoin neobanks are once again under scrutiny by traditional banking institutions. 🤭

No, this wasn’t some James Bond-level heist involving lasers and tuxedos. Instead, these hackers reached out to contractors in India offering cash for access to Coinbase’s servers. Because nothing says “high tech” like bribing your way in! 💸

So, Novogratz is basically saying XRP and ADA are like that friend who’s all talk and no action. 🗣️💤 Sure, they’ve got a loyal fan base, but where’s the beef? 🍔 He’s warning that as the crypto market grows up and starts caring about actual business value, these tokens might end up as irrelevant as a fax machine in 2023. 📠

Once expected to keep sizzling through year-end, the XRP funds now find themselves in a peculiar state: no net movement at all. Zip. Nada. The crypto community erupted in a flurry of hot takes, memes, and conspiracy theories, pondering if the entire crypto universe had collectively taken a coffee break. ☕

XRP ETFs remain strong despite $0 net inflow

On what can only be described as the sort of day that makes traders grimace-a day when the XRP spot ETF market recorded exactly zero net inflow-these funds had been riding high, pulling in more dough than a bakery in a bread riot. And yet, despite the zero-dollar inflow, the total cash that has flowed into XRP ETFs since their debut stands at a hefty $1.14 billion. That’s billion with a B, which is roughly 1,140 million, or enough to buy quite a few pizzas. 🍕

Meanwhile, the total net assets in the XRP ETF realm hover around $1.24 billion-a statistic that suggests investors might be quiet but are still pretty confident about the long-term prospects of XRP, like a cautious but hopeful gambler at the roulette wheel.

Trading activity, surprisingly, continued at a decent clip, with a daily volume of $16.61 million-proof that the market’s heart still beats, even if the inflows have hit pause. As for the price of XRP itself? It was trading around $1.85, showing that the price was steady as a rock during what could be called the “consolidation phase”-or simply “the calm before the next rollercoaster.” Institutional investors seem to be whispering sweet nothings about XRP’s future, and who’s to argue?

Canary Leads the Pack with a Splash of Confidence

Amidst this quiet pause, all XRP spot ETFs played it safe and recorded flat daily inflows, yet their net assets remain in tip-top shape. The standout star? XRPC Canary, holding onto a cool $325.93 million in net assets and climbing a modest 0.41% in the last day-like a cautious climber who’s not rushing, but getting there. 🧗‍♂️

2[Shares] tried their luck with a slight dip of 0.02%, holding $250.68 million. Meanwhile, Bitwise, Grayscale, and Franklin Templeton didn’t miss a beat, their net assets bobbing around $227 million, $225 million, and $207 million respectively – stubborn, resilient, and kind of like the financial version of that guy who refuses to quit even when everyone else has left the party.

Interestingly, most of these products finished the session in positive territory-proof that investors aren’t exactly retreating to the hills; they’re just eyeing the horizon, perhaps waiting for the next big surge or, at the very least, a good meme to share on Twitter.

Analyst sentiment? It’s like a bad date. You’re all “I’m fine, really!” but deep down, you’re just tired of the same old thing. 🧠💸

This December’s been uglier than a mud fence for spot Ethereum ETFs in Uncle Sam’s backyard. Investors have been pulling out faster than a Mississippi riverboat gambler who’s seen his opponent’s ace. Over $564 million vanished quicker than common sense at a political rally, according to them fancy SoSoValue numbers.

JPMorgan has frozen banking accounts linked to several stablecoin startups in recent months. The action shows increased compliance pressure on the banks dealing with crypto transactions. Moreover, the move makes obvious risks associated with high-risk jurisdictions. As a consequence, there is now more stringent banking scrutiny of stablecoin firms. 🧙‍♂️

On-chain data shows that BitMNR deposited a whopping 74,880 ETH into Ethereum’s proof-of-stake system. That’s nearly twenty-two hundred million dollars, or as I like to call it, “the amount you’d need to buy an island… or two.” Considering they’ve been sitting on this Ethereum like a squirrel on acorns, it’s a bit like discovering Uncle Larry finally decided to invest in stocks-after all these years of just looking at the ticker.

Picture this: every eligible participant, standing at the precipice of their screens, eagerly anticipating their DOGE rewards as if they were children awaiting the arrival of Santa Claus. It’s a delightful mass airdrop, a digital feast where everyone leaves with their pockets jingling! 🤑