Currency Forecast

In a tweet (because what’s more trustworthy than a tweet, right?), Coinbase announced that wrapped versions of Dogecoin and XRP—cbDOGE and cbXRP—are now alive and kicking on the Base platform. These are ERC-20 tokens, which I assume are just as terrifying as they sound, backed 1:1 by actual DOGE and XRP chillin’ in Coinbase’s vault—that’s a vault, not a vault-ment, unfortunately. Meanwhile, Bitcoin and Ethereum wrapped assets have already been sent off into the wild, probably to be lost forever in the ether (pun intended).

Once upon a time, on May 22, BTC soared to a dizzying $112,000—then decided to have a little nap, sliding down from its royal throne and breaking a trendline that had held since spring blush. Nevertheless, the long-term holders and the giant whales are still wearing their bullish hats, humming a tune of hope.

Yet, amidst the tumult, long-term holders (LTHs)—those heroes of steadfastness—may thwart the downfall with the swagger of Wilde himself refusing to stoop. Their unwavering grip could turn the tide, or at least make the plunge a tad less dramatic.

On a day called June 4 (which sounds suspiciously like a holiday from your chores), crypto platform CEX.io announced that in May, bots hopped to action, facilitating 4.84 million stablecoin transfers. That’s a number so large, it makes the national debt look like pocket change. The volume shot past all previous records, hitting a staggering $480 billion. If this were a movie, it’d be the scene where the hero dramatically reclaims his throne, except the hero is a bunch of algorithms and a little bit of chaos.

On a day called June 4 (which sounds suspiciously like a holiday from your chores), crypto platform CEX.io announced that in May, bots hopped to action, facilitating 4.84 million stablecoin transfers. That’s a number so large, it makes the national debt look like pocket change. The volume shot past all previous records, hitting a staggering $480 billion. If this were a movie, it’d be the scene where the hero dramatically reclaims his throne, except the hero is a bunch of algorithms and a little bit of chaos.

Christopher Hui Ching-yu, that man with a title longer than a country road, announced that the Securities and Futures Commission (SFC) is rolling out these new virtual asset derivatives, intended solely for those who have enough juice to qualify as ‘professional investors.’ Like a fancy club with a secret password — don’t tell the masses! 😏

Christopher Hui Ching-yu, that man with a title longer than a country road, announced that the Securities and Futures Commission (SFC) is rolling out these new virtual asset derivatives, intended solely for those who have enough juice to qualify as ‘professional investors.’ Like a fancy club with a secret password — don’t tell the masses! 😏

Rep. Gregory Meeks (D-N.Y.) was practically rolling his eyes when he said, “The president has put us in a position where his actions are so egregious that we have no other choice but to focus on him today, and it is a distraction.” Oh, Greg, we *all* feel you. 🙃

Gathering around their digital campfire, the company now whispers of negotiations with local partners, hinting that an agreement, perhaps more fragile than a spider’s web, will be sealed in the coming weeks. What a splendid spectacle—ensuring that their interests extend, while keeping their pockets relatively untouched, by a clever arrangement of “free carry” interests. Who needs cash when you have such deft negotiations?

Guess what? XRP has played this game before—it’s basically the hammy actor of cryptocurrencies, stalling in the same scenes over and over. The current “pause and pray” phase kicked off back in May, and if past is prologue, we might see a breakout like it’s on a Netflix binge. But hurry, because these trends love to drag on longer than that one aunt at family gatherings.