Hungarian digital asset traders using “unauthorized” cryptocurrency exchanges face up to two years in prison under newly enacted legislation. Those conducting trades exceeding $140,000 (50 million forints) face an additional year, while transactions above $1.4 million could lead to sentences of up to five years. 😱😱😱
So, XRP did that thing where it creeped above $2.750, and suddenly everyone’s saying it’s the next Bitcoin. It then broke above $2.850 like it was some kind of hero.
By the time the sun rose, the wallet had parted with 40,009 BTC, worth roughly $4.68 billion. The coins, which had first seen the light of day in early 2011 when a bitcoin was worth less than a dollar, now found themselves in the hands of a modern financial behemoth. Galaxy Digital, with its reputation for premier execution and bespoke liquidity, seemed the perfect partner for such a delicate operation. Within hours, 6,000 BTC ($706 million) had been discreetly deposited into Binance and Bybit, two of the most liquid exchanges on the planet.
Republican House Speaker Mike Johnson expressed his hope to pass the bills, calling it a “priority of the White House, the Senate, and the House to do all of these crypto bills.” However, some Republicans wanted the stablecoin-regulating GENIUS Act amended or bundled with two other crypto bills up for a vote this week – the CBDC-banning Anti-CBDC Surveillance Act and the sweeping crypto market structure bill, the CLARITY Act.
CME’s XRP and Micro XRP futures have achieved a new daily record on July 11, reaching over $235 million in notional trading volume, pushing the total volume across the suite beyond $1.6 billion. CME Active Trader shared this delightful news on social media platform X on July 14, stating:
Shiba Inu Average Transaction Size | Source: IntoTheBlock
According to an astute chart from our friend Kriptoteless, WLD/USDT is still playing in the sand under a formidable ceiling in the $1.40 to $2.00 range. It’s like WLD’s favorite nightclub, but the bouncer just won’t let it in. 🚷 The ongoing rejection party has painted this red zone as a formidable barrier, and right now, our token is giving the lower boundary a solid poke, like a cat tentatively swatting at a laser dot.
As the venerable Bitcoin surged to dizzying new heights, TURBO, not one to be outdone, staged a most thrilling 12% rally on the 14th of July, leaving its more staid brethren in the dust 🏃♂️.
Not one to miss an opportunity to tweet out a political storm, Trump — our MAGA maestro — unleashed a clarion call from the glittering kingdom of Truth Social on a Tuesday morning, demanding Republicans get their act together and “get the first vote done this afternoon.” Such a rallying cry could inspire the sort of fervor found in a school of fish trying to avoid a shark, but it turns out even his magical sway couldn’t prevent the pesky matter of reality.
The asset’s price, once buoyed by the fervent enthusiasm of its devotees, has been dragged down to the $670 range, a victim of its own success. The trading volume, that great indicator of market sentiment, remains relatively high, but the price action tells a different tale – one of weakening bullish momentum and a growing sense of unease. 😟
