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Ah, the sweet sound of another $130 million being pulled from the depths of Metaplanet’s Bitcoin-backed credit. The company’s latest attempt to fuel its ever-growing Bitcoin obsession and, as a cherry on top, keep its stock price from hitting rock bottom, is nothing short of an elaborate dance with destiny (and some very volatile assets). 🍿
Ash Crypto, that modern-day oracle, presents a chart as if it were a sacred text, revealing Bitcoin’s fidelity to a rising trendline since 2021. Three times it has been rebuffed, like a suitor denied at the altar, only to return with renewed vigor. Now, it stands above, transformed from foe to ally, a testament to the fickle nature of markets. “As long as BTC holds above this trendline, the long-term outlook stays bullish,” Ash proclaims, though one wonders if even the stars can predict such whims. 🕊️🔮
Here’s the thing. This whole thing was announced Monday-by Standard Chartered, mind you, through CryptoMoon (I know, who comes up with these names?)-and Margaret Harwood-Jones, who’s big in the bank’s financing and securities services, is all excited. She said the collaboration is a chance for the bank to show off its “expertise” in the fast-paced digital asset world. Translation: “We know what we’re doing, trust us.” But the question is, did 21Shares need the help? They were just fine with their previous partner, Zodia Custody. In fact, they’d been cozy with Zodia since June, which just happens to be a crypto-native custodian co-founded by-you guessed it-Standard Chartered in 2020. Oh, the drama! 🙄
In a post as dramatic as a Lancre Morris dance, Sapijiju dismissed the claims by Lookonchain as “complete tosh,” insisting their dealings with Kraken and Circle were as innocent as a witch’s cackle. “Mere treasury management, I say!” they proclaimed, though one might suspect they’re just rearranging deckchairs on the good ship Pump.fun. 🛳️🤹♂️
But wait, there’s more! The watchful eye of the state now turns to stablecoins and RWAs, those elusive creatures of the financial wilderness, while the draconian 30% tax and the pesky 1% TDS tremble under the scrutiny of reconsideration. 📉 Will they survive? Will they evolve? Only the ledger knows. 🧮
On the 24th of November, a significant day in the chronicles of Solana ETFs, data from SoSoValue revealed that these funds, particularly the Bitwise BSOL, managed to rake in a hefty $58 million in net inflows. And let us not forget the jewel in the crown: Bitwise’s BSOL, which alone accounted for $39.5 million of that sum. Remarkable, is it not? This figure, the third-largest in the history of Solana ETFs, stands as a testament to their growing appeal. A success so profound, it raises the question-has Solana arrived?
The advent of a Dogecoin ETF has transformed murmurs of doubt into enthusiastic chatter; charts now display a reversal as clean as a dandy’s cuff, and whales-those plump, oceanic tycoons-have begun to nibble at the buffet again. Yet, the most formidable resistance remains perched above a certain price level, mocking all attempts at conquest.
Picture this: The global stablecoin market has ballooned past $280 billion, mostly flaunting US dollars in front of euro-denominated cousins who are still shy at €395 million. Think of it as the crypto party where the Americans brought the fireworks, while the Euros brought the snack drinks-small but with potential for chaos, especially if someone yells “fire!” (or de-pegs). The ECB’s report-crafted by the trio Aerts, Lambert, and Reinhold-highlight risks like de-pegging, bank runs (the digital version of panic buying toilet paper), and the tangled web connecting stablecoins with traditional finance-because nothing says stability like a good ol’ financial spider web.
According to the wizards at CoinMarketCap, XRP has surged 6.5% in the last 24 hours, hitting $2.20. 🎉 Meanwhile, it’s confirmed a golden cross on its hourly chart, which is apparently a big deal if you’re into lines crossing each other. 📈 The golden cross happens when the short-term moving average (MA) does a little dance over the long-term one, and everyone interprets it as a “buy signal.” Because, you know, lines crossing = financial wisdom. 🤷♂️
But before you start making your “XRP to the moon” memes, let’s pump the brakes for a sec. Sure, the rally’s nice, but there’s a little thing called “whales” lurking in the background, and they’re really good at spoiling the party. 🐋
