Bitmine has become the world's largest Ethereum treasury, no | Crypto Web3 Today on Binance Square

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Bitmine has become the world's largest Ethereum treasury, now holding over $3.33 billion in $ETH .
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$ETH Open Interest is rising alongside the funding rate. But it's not moving at an alarming rate just yet. As you can see, the OI moves at the same pace as price which is generally fine. You don't want to see OI outpacing price, that's usually when the market gets a little frothy. Funding rates are moving up but that is to be expected after violent rallies moving into cycle highs. All in all ETH is getting hotter but I don't see big warnign signs based on this data just yet. $ETH

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There’s a Big Whale Invasion on Ethereum: They’ve Accumulated Billions of Dollars Worth of $ETH . Onchain data showed a massive influx of whales, which could explain the rally in Ethereum (ETH). Here are the details. According to on-chain data, since July 10, unknown whales or institutions have accumulated 1.03 million Ethereum (approximately $4.16 billion) through exchanges and institutional platforms. During the same period, the price of ETH rose by 45%, from $2,600 to $4,000. It is estimated that the majority of the ETH collected belongs to US-listed companies or institutional investors who hold Ethereum reserves. The average cost of these purchases was calculated at approximately $3,546. These figures do not include the well-known Sharplink Gaming address. Sharplink Gaming is known for its recent large ETH accumulation under the leadership of Ethereum co-founder Joe Lubin. The company currently holds $2 billion worth of ETH. SharpLink began building its ETH treasury just two months ago and has rapidly grown its position, selling more than $540 million worth of shares at market price (ATM). All of SharpLink's ETH is currently staked, and it has generated more than $3.4 million in rewards since June. $ETH #ETHBreaks4000

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Another Positive Development for $XRP in the Ripple-SEC Case – SEC Withdraws One Claim After Another. Following the virtual conclusion of the Ripple-SEC case yesterday, the SEC took another positive step regarding Ripple today. Although the SEC had opposed this matter at various stages following Judge Torres’ decision, the final decision approved Ripple’s exemption from Rule 506(d) disqualification under the Securities Act. This decision removes the obstacle for Ripple to benefit from investor exemptions under Regulation D. The Commission stated that, given the current circumstances and previous decisions, there was “good cause” not to apply the disqualification that would have resulted if the preliminary injunction granted by the final judgment were lifted. Thus, Ripple officially gained exemption from the relevant provision of the Securities Law. So what does this mean? Ripple will be able to continue raising capital in private markets. It could even be said that business as usual will continue as if the lawsuit and $125 million fine never occurred. The case between Ripple and the SEC effectively ended yesterday when the SEC officially withdrew its appeal. The $XRP price reacted extremely positively to this development, trading at $3.3 at the time of writing. $XRP

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$AVAX is now the second-largest blockchain asset under management for BlackRock's BUIDL fund. Will $AVAX see further gains with this news? $AVAX

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Ripple Case Is Over: So, Is an $XRP Spot ETF Coming? Experts Explain. With the Ripple lawsuit effectively over, all eyes are now on the possibility of XRP spot ETFs being approved. The legal battle between Ripple and the US Securities and Exchange Commission (SEC) that has been going on since 2020 has ended with the parties withdrawing their appeals. During the lawsuit, the SEC accused Ripple of selling unregistered securities by raising $1.3 billion through XRP sales. New York Judge Analisa Torres ruled that programmatic sales of XRP did not violate securities laws, but that direct sales to institutional investors were considered securities. The closing of the case fueled speculation that major investment firms, particularly BlackRock, might launch spot XRP exchange-traded funds (ETFs). However, BlackRock made it clear in its statement that it has no plans for an ETF for XRP or Solana ($SOL ). Bloomberg Intelligence analyst James Seyffart said that if BlackRock wanted to list an XRP or SOL ETF, it could have already done so. Companies like ProShares, 21Shares, Canary, and Bitwise have already filed XRP ETF applications with the SEC. In June, Bloomberg analysts had raised the probability of spot XRP, Dogecoin, and Cardano ETF approval to 90% by the end of the year. However, Alexander Blume, CEO of Two Prime Digital Assets, called these expectations “overly optimistic,” noting that XRP’s market capitalization is less than half that of Ethereum. Vivian Fang, a finance professor at Indiana University, said that ETFs for public blockchain-based altcoins like Solana are more likely to precede a dedicated fund for Ripple. $XRP

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