Bitcoin hit $106,000 yesterday and the crypto world remained eerily quiet.
No special hashtags trending.
All these endless debates about when Bitcoin would finally exceed six figures? They are now a thing of the past. But instead of chaos and excitement, we witness something unexpected: calm.
The charts are green, the portfolios are up, but the usual hype? MIA
Traders who were jumping on every price move are just… watching. Some haven’t even updated their price forecasts yet.
Is this what a mature market looks like? Or is everyone realizing that their years-old predictions have finally come true?
Let’s make sense of it all! Here is a brief overview of the main headlines from the last 24 hours:
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Ripple launches RLUSD stablecoin with New York approval, targeting USDT and USDC dominance in remittance market – But who supports this project? 🏦
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MicroStrategy adds 15,350 BTC ($1.5 billion) just before joining the Nasdaq 100 index – But didn’t they buy thousands of Bitcoins a few weeks ago? 🤔
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BlackRock backs Ethena’s new stablecoin USDtb, sister token to its $6 billion USDe – But who else supports this project? 💰
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Hyperliquid DEX Reaches $1 Billion in USDC Deposits After HYPE Token Launch Without VC Backing – But why are users so optimistic about HYPE? 📈
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FTX will start reimbursing users from January 2025, offering 118% of the value of claims – But why 118%? 💸
Let’s go!
Ripple just made a power move in the stablecoin game. After getting the green light from New York regulators, they are launching RLUSD – a dollar-backed stablecoin that goes directly to the market share of USDT and USDC.
The interesting part? Unlike other stablecoins primarily used for trading, RLUSD is specifically designed for payments and remittances. Think faster cross-border transfers and cheaper international payments.
But why is XRP increasing? Read the full story!
MicroStrategy just added an additional 15,350 Bitcoins to its treasury, worth approximately $1.5 billion. Their total reserve? 439,000 BTC.
The purchase comes just before MicroStrategy joins the Nasdaq 100 Index — a move that could trigger at least $2.1 billion in institutional buying as ETFs adjust their portfolios.
But didn’t they buy thousands of Bitcoins a few weeks ago? Read the full story!
Ethena just dropped something interesting in the stablecoin space: USDtb, a new dollar-pegged token with a twist.
More than 90% of its support comes from BlackRock’s massive BUIDL fund.
