Oh, how the mighty have fallen! Dogecoin plummeted nearly 7% in just 24 hours, while ADA dipped a delicate 6.5%, as risk-averse traders started to clutch their pearls. But wait, Bitcoin made a slight recovery, managing to crawl above $102,000 after taking a nosedive to $101,000 on Thursday night. Meanwhile, Ether, XRP, BNB, and Solana tripped over each other, dropping by 2%-5%. Charming, isn’t it?
According to the proclamation, the earnings derived from their gold mining ventures shall now be gently recycled into a most proactive “Bitcoin in Treasury” management scheme. This newfangled strategy, conducted with the economics of a whisper and strife to keep costs scarcely visible, marks an unprecedented occasion for a company—one of the first in the quick-witted United Kingdom’s stock market to undertake such an daring enterprise. The result, as might be expected, was a remarkable surge in their stock—more than sixty percent—and all this at an early hour, when the world seems most impressionable.
Last Thursday, these sweet souls from eight crypto policy groups—think of them as the Justice League of blockchain—joined forces, clutching a joint statement, begging Congress to throw them a bone. The BRCA (Blockchain Regulatory Certainty Act, for the uninitiated) is the shiny new toy they want in the legislation sandbox. Basically, it’s a safe space for developers, so the government won’t treat them like money laundering machines just because they made some digital magic happen.
In a curious twist, XRP’s trading volume surged by nearly 80%, reaching a whopping $2.97 billion, as panic sellers hurried to unload their bags. Meanwhile, data from CoinGlass tells us that traders, in a bold yet deeply uninspired move, have been running for cover, increasing short-term plays while abandoning long-term positions at a record pace. I do hope these impulsive traders have their seatbelts fastened, because this ride is far from smooth.
Projects like Ripple and Block.one have learned the hard way that messing with the regulators isn’t just bad karma — it’s a long, expensive headache (think multi-million-dollar hangovers). 🥴💸
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These miscreants first had their virtual piggy banks frozen back in April 2023, when the authorities slapped an indictment on Sim Hyon Sop—a chinless banker who was apparently the puppet master helping North Korea’s digital bandits launder their loot. The DOJ spilled the beans on June 5, revealing their plans to snatch *multiple* cryptocurrencies, including the mysterious stablecoins, Bitcoin (BTC), NFTs, and Ethereum Name Service domains hiding in countless wallets and Binance accounts. It’s like hunting for shiny digital trinkets in a carnival game—guess wrong and you lose everything! 🎠💰
From a technical standpoint—because who doesn’t love a bloodless chart—XRP is wobbling just above the 100 EMA, offering all the confidence of a cat that’s about to leap into a lake. The bounce? As weak as your last New Year’s resolution. Volume is whispering instead of shouting, and RSI is lounging around the neutral zone like a tourist at a beach resort, making bulls look as optimistic as a kid told he’s getting coal for Christmas.
Let’s talk about the pattern that’s more familiar than your grandma’s cookie recipe. XRP’s recent rally is playing out like a well-scripted drama, starting with a wild Q4 2024 story that ended with a cozy $2. — yawn, right? Nope! Now it’s forming a flag pattern, and guess what? Our savvy analyst overlayed the 2017 fractal—because why not?—and boom! The pattern looks eerily similar, like XRP is staring in its own rerun of the Bull That Could. 🎬🔥
In the hot seat today are:
