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$XRP John Deaton: Clarifying Ripple's RLUSD vs. XRP and USDC: John Deaton corrects XRP's competitive relations, Clarification boosted XRP trading volumes, Ripple's RLUSD poised against Circle's USDC. John Deaton addressed concerns on Twitter, differentiating Ripple's RLUSD stablecoin from XRP, refuting claims of competition with Circle. XRP clarification boosts trader confidence, delineating between Ripple's stablecoin competition with Circle and standalone XRP's John Deaton's Clarification on XRP and Stablecoin Competition:John Deaton, a prominent attorney and XRP advocate, clarified that XRP is not in competition with Circle or stablecoins on his social media. He emphasized that the real competition lies between Ripple's newly launched RLUSD stablecoin and Circle's USDC, as stated directly by Deaton. Impact on Traders and Market Dynamics: Deaton's statements addressed confusion after Barstool Sports owner Dave Portnoy mistakenly sold XRP due to incorrect advice. Ripple and Circle, as major players, are indeed confronting direct competition in the stablecoin sector. The recent clarification by Deaton has led to an increase in confidence among traders, with XRP prices surging significantly. XRP saw over 38% growth in two weeks, outstripping Bitcoin and rising to a new all-time high. Clarifying Roles and Market Distinctions: Clarifying the roles of XRP and USDC mitigated trading misconceptions, aiding investors to make informed decisions. Deaton highlighted the distinction, warning against the pitfalls of conflating tokens with companies in trading strategies. Ripple’s foray into the stablecoin market with RLUSD presents a direct challenge to Circle’s USDC dominance. This move strategically diversifies Ripple's offerings and could alter market dynamics significantly.$SOL $XRP

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#BTCvsETH Bitcoin and Ethereum are both digital assets, but they aim to serve different purposes and have unique features. Bitcoin is sometimes referred to as digital gold, serving as a store of value, while Ethereum is a platform for decentralized applications and smart contracts. The two digital assets also differ in their consensus mechanisms, with Bitcoin using Proof of Work and Ethereum beginning its transition to Proof of Stake Key Differences between Bitcoin and Ethereum: While both Bitcoin and Ethereum operate on blockchain technology with a focus on decentralization, they aim to serve different purposes. Bitcoin is primarily a store of value, while Ethereum is functional, enabling the execution of applications and smart contracts. Bitcoin is sometimes described as 'digital gold' and Ethereum as 'digital silver'. Bitcoin is seen as a decentralized value store and less volatile, as well as known for its fixed supply. Ethereum, with more functions, has higher transaction activity, but it is not accurate to say it has greater adoption rates than Bitcoin. Also, Ethereum has not fully adopted the PoS system yet. Bitcoin and Ethereum: Complementary, not Competitors: Despite their differences, Bitcoin and Ethereum are not necessarily competitors. They aim to serve different purposes and could complement each other. Bitcoin could be used as a store of value and a stable asset, while Ethereum could be used to interact with applications built on the Ethereum blockchain. In a portfolio, Bitcoin could be used to preserve value, while Ethereum could be used to access decentralized financial (DeFi) services.$ETH $BTC

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#TRX Today Binance WOD. Theme: Sharia Earn, 7 letters.$BNB

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#StablecoinLaw Key takeaways from U.S. stablecoin law: What it means for global finance: U.S. President Donald Trump on Friday signed the Guiding and Establishing National Innovation for U.S. Stablecoins Act, or GENIUS Act, into law, marking the country's first major federal law governing cryptocurrencies. Passed by a bipartisan majority in Congress, the legislation gave an immediate boost to market sentiment: the total value of cryptoassets surged past 4 trillion U.S. dollars, according to CoinGecko, a cryptocurrency data aggregator website. "This could be perhaps the greatest revolution in financial technology since the birth of the Internet itself," said Trump. WHAT ARE STABLECOINS? Unlike volatile cryptocurrencies like Bitcoin, stablecoins are designed to hold a steady value by being pegged one-to-one to a stable asset, usually to the U.S. dollar. For every stablecoin in circulation, the issuing company is expected to hold equivalent reserves, such as cash or short-term Treasury bonds. In a Brookings Institution report, stablecoins currently in circulation have a collective market capitalization of over 250 billion dollars with approximately 99 percent pegged to the U.S. dollar. Among major stablecoin issuers are Tether (USDT) with a market cap of nearly 161 billion dollars, and Circle (USDC) with about 65 billion dollars, according to data from CoinMarketCap. With the GENIUS Act passed, banks, nonbanks and credit unions could dive into the market by issuing their own stablecoins, local media reported. Citigroup CEO Jane Fraser said on the company's earnings call Tuesday that the bank is considering issuing its own form of the cryptocurrency. U.S. Senator Bill Hagerty said stablecoins could allow businesses and consumers to settle payments "nearly instantaneously," as opposed to the current system, which can take weeks. However, stablecoins come with mounting concerns. Among the biggest are the depegging risks. If reserve assets lose value or liquidity, stablecoins may break their peg. $SOL

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