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The Crypto Basic
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Records $48.84B in 24-Hour Perp DEX Volume.
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Users Can Now Swap #Cardano Across 20+ Chains, Hoskinson Reacts. The #NEAR Protocol has announced the integration of Cardano on the NEAR Intents platform, offering ADA holders more cross-chain functionalities. For the uninitiated, NEAR Intents refers to an organized framework that allows users to swap their tokens across the multiple chains integrated into the protocol. The abstraction tool delivers the user’s desired cross-chain transactional outcome through its competitive network of “solvers.” The NEAR Intents platform has over 20 chains and 100 assets on its protocol. The most popular of them include Bitcoin, Ethereum, XRP, USDT, and Solana. Cardano’s integration now makes swapping ADA for these assets seamless and bridgeless. Cardano founder Charles Hoskinson showed enthusiasm over the development. He took to X to share that he is glad to be working with the NEAR Protocol team, insisting that they are “great.” #CryptoNewss
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Metaplanet Acquires Additional 5,268 #Bitcoin , Boosting Total Holdings to 30,823 $BTC #Crypto
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"Shiba Inu’s Biggest ‘Uptober’ Ahead: Analyst Spots Key Bullish Signal"
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Bloomberg analyst Eric Balchunas has declared that the chances of approval for multiple crypto ETFs, including those focused on #XRP , are now essentially 100%. The ETF analyst issued his bold prediction after journalist Eleanor Terrett reported that the SEC had instructed prospective issuers of XRP, Solana, Dogecoin, Litecoin, and Cardano ETFs to withdraw their 19b-4 exchange filings. This directive follows the SEC’s recent approval of the Generic Listing Standards, which eliminates the need for the traditional 19b-4 filings and their lengthy review process. According to Terrett, prospective crypto issuers will withdraw their 19b-4 filings this week. Reacting to the report, Balchunas stated that the outcome was anticipated. He noted that the old 19b-4 exchange filings are not required under the Generic Listing Standards. Accordingly, he emphasized that the chances of approval for these crypto ETFs, including those tied to XRP, are now at 100%. With the SEC removing the need for the 19b-4 filing, Balchunas emphasized that the only step left is for the SEC’s Division of Corporation Finance to give formal approval to the S-1 filings. Accordingly, this makes the approval of crypto ETFs a matter of when, not if. Underscoring the momentum, Balchunas pointed out that prospective issuers of Solana ETFs have already filed their fourth amendment. Reports indicate that issuers aiming to launch XRP ETFs in the U.S. were required to file their final amendments last week. Following the submission of final amendments for spot crypto ETFs, Balchunas urged investors to be prepared, noting that approval “could come any day.” Meanwhile, prediction platform Polymarket has already settled its wager on whether an XRP ETF would launch this year, with a firm “Yes.” The outcome follows the SEC’s tacit approval of the REX-Osprey XRP ETF (XRPR), which debuted impressively with $37.75 million in first-day trading volume. The REX-Osprey XRP ETF currently holds $31.8 million in assets under management (AUM), with a daily inflow of $5.3 million. #Crypto
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‘#XRP Is Dead,’ but History Suggests Otherwise: Economist and trader Mikybull recently shared a chart on X with the caption, “XRP is dead.” While the statement may sound bearish, Mikybull used the phrase to highlight a recurring market pattern where skepticism peaks just before a strong recovery. The chart shows XRP moving within a downward-sloping channel, drawn with red trend lines. At the same time, a long-term moving average (blue curve) continues to rise. This mirrors a phase seen in mid-2024, when XRP faced similar doubts. At that time, the token drifted lower to $0.38 and remained in a tight range for weeks as sentiment turned negative, only to break out sharply once the consolidation ended by late 2024. In that previous run, the prolonged pullback gave way to a sudden rally that surprised many traders who had written the asset off. Mikybull’s latest observation suggests that XRP may be setting up for a similar move. The pattern of a falling channel alongside a rising moving average has historically marked the end of a consolidation phase, rather than the beginning of a prolonged downturn. Essentially, while short-term price action looks weak and may continue to test support levels, the underlying upward slope of the moving average points to a still-intact long-term trend. For traders watching XRP around $2.80, the current “dead” phase means the early stages of another significant breakout, especially as the market enters the final quarter of the year, a historically bullish season. Interestingly, while XRP’s price is in a quiet phase, deep-pocketed investors are silently accumulating ahead of the next major pump. In a tweet today, analyst Ali Martinez revealed that whales have bought 120 million XRP over the past three days, investing over $300 million in the XRP market. Notably, these are investors holding between 10 million and 100 million XRP tokens each. Their collective balance was under 7.8 billion XRP last week. However, as of today, their total has reached 7.91 billion. The last time they held this much XRP was in mid-August.
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