XRP Drops 4.74% Amid $1.47B Exchange Transfers, ETF Approval, and Ripple-SEC Lawsuit Developments
XRPUSDT experienced a 4.74% price decline over the past 24 hours, with the current price at 2.8524 USDT, opening at 2.9944 USDT. The price drop follows a period of heightened activity, including the transfer of over $1.47 billion in XRP to exchanges and significant trading volume from South Korean traders on Upbit, who accounted for $500 million in spot purchases. Market sentiment has been influenced by the approval of the ProShares Ultra XRP ETF (UXRP) on NYSE Arca, anticipation surrounding additional XRP-linked ETFs, and ongoing developments in the Ripple-SEC lawsuit, which is nearing its conclusion. Despite recent volatility, XRP remains a top-ranked digital asset, with robust trading volumes and a market capitalization in the $170–174 billion range, and a circulating supply of approximately 59.13 billion tokens.
Function raises $10M in a Seed funding round
#Function secures $10M in a Seed funding round led by Galaxy Digital, with participation from Mantle and Antalpha Global. Function is a crypto infrastructure firm, developer of $FBTC, an omnichain Bitcoin yield asset, enabling $BTC holders to participate in structured, risk-managed yield strategies.
👉 x.com/FunctionBTC/status/1945106460381483154
BTC Drops 3.25% After All-Time High; Institutional Moves and ETF Inflows Shape Market Outlook
Bitcoin (BTC/USDT) experienced a 3.25% price decrease over the last 24 hours, with the current price at 116,891.45 USDT on Binance. This pullback follows a recent all-time high above 122,000 USDT and is attributed to profit-taking after the rally, increased volatility around record market capitalization, and anticipation of upcoming economic data releases. Additional contributing factors include heightened institutional activity, such as Standard Chartered launching a spot trading desk for Bitcoin and Ethereum, and significant inflows into U.S. Bitcoin Spot ETFs, which have supported overall market sentiment. Despite the short-term decline, Bitcoin maintains a strong market position with a market cap around $2.33 trillion, a 24-hour trading volume of approximately $146 billion, and a circulating supply of about 19.89 million BTC.