Ripple Launches Tokenized Money Market Fund on XRP Ledger
Ripple has launched a tokenized money market fund on XRP Ledger in partnership with FCA-regulated digital asset exchange Archax. The fund is part of abrdn’s £3.8 billion USD Liquidity Fund (Lux) and is the first initiative to be launched on XRPL. Abrdn’s Duncan Moir highlighted the efficiency gains of on-chain investment and cash settlement processes, while RippleX’s Markus Infanger highlighted the scalability and utility that tokenizing real-world assets will provide. It is predicted that tokenized assets could reach $16 trillion by 2030.
WisdomTree Starts Preparations for XRP ETF
WisdomTree, an ETF issuer with $113 billion in assets under management, has signaled plans to file an S-1 with the SEC by registering an XRP ETF unit in Delaware. The move follows attempts by Bitwise and Canary Capital to launch spot XRP ETFs. While WisdomTree continues to offer physically backed Bitcoin and Ethereum products on the London Stock Exchange, XRP’s highest price since May 2021 was driven by the departure of SEC Chairman Gary Gensler and the expectation of a more crypto-friendly regulatory environment.
Aptos Labs Strengthens Advisory Board
Aptos Labs has added former Grayscale CEO Michael Sonnenshein and OpenAI Product Manager Kevin Weil to its advisory board to support its growth in AI, enterprise adoption, and blockchain applications. Sonnenshein will use his 10 years of experience at Grayscale and his banking background to attract mainstream investors to digital assets, while Weil’s OpenAI background will help Aptos integrate AI into its blockchain projects. Aptos, a Layer 1 blockchain developer founded by former Meta engineers, raised $350 million in funding in 2022.
Justin Sun Makes Big Investment in Trump’s Crypto Project
Tron founder Justin Sun has become Donald Trump’s largest investor in crypto project World Liberty Financial (WLFI) by investing $30 million in tokens. The move brought WLFI’s sales to $52 million, falling well short of its $300 million target. Sun’s investment allowed Trump’s company to start receiving 75% of net proceeds after it passed the $30 million sales threshold. While WLFI has faced challenges due to restrictions on U.S. sales and non-transferable tokens, co-founder Zak Folkman expressed confidence in the project.
Ethereum Surpasses Tron in USDT Supply
Ethereum has regained its lead in Tether supply, surpassing Tron for the first time since August 2022. Ethereum currently has a USDT supply of $60.3 billion, while Tron is in second place with $58.1 billion. This shift strengthens Ethereum’s position as the preferred chain for tokenizing US dollar-backed assets, while Tron’s popularity continues in regions with low fees and high inflation. Tether’s total supply has reached a record high of $132.9 billion, indicating strong liquidity in the crypto market.
Rumble Invests $20 Million in Bitcoin
Nasdaq-listed video-sharing platform Rumble plans to invest up to $20 million in Bitcoin as part of a strategy to diversify its institutional treasury. CEO Chris Pavlovski said the move was prompted by increasing institutional adoption and the emergence of a crypto-friendly U.S. administration. Meanwhile, Bitcoin’s rally target of $100,000 was disrupted as long-term holders sold 461,000 BTC, sending it to $95,000. However, institutional demand remains strong, with record inflows into Bitcoin ETFs and a 130% annual price increase.
Avalanche Launches Cost-Reducing “Avalanche9,000″ Testnet
Avalanche has launched its “Avalanche9,000” testnet, which aims to make Layer-1 development cheaper and simpler, with a planned mainnet launch in 2025. The Avalanche Foundation is offering $40 million in retroactive grants to encourage network adoption, while changes include reduced C-Chain fees and new validator frameworks. The renaming of subnets to Avalanche Layer-1 emphasizes their independence while aiming to reduce development costs by 99.9%. It is reported that over 500 L-1s are currently in development.
Cardano Founder Criticizes Wyoming Stablecoin Project
Cardano founder Charles Hoskinson has criticized the Wyoming stablecoin project for excluding Cardano and other blockchains. Hoskinson claimed that prioritizing the project’s leadership with people connected to the Ethereum ecosystem creates an unfair advantage and ignores the multi-chain approach. He warned that such practices could jeopardize Wyoming’s reputation as a crypto-friendly state, calling for fair processes and compliance with the rule of law. Hoskinson emphasized his commitment to Wyoming and said he was considering legal action.
Solana-Based Pump.fun Live Stream Turns Into Scandal
Solana-based meme coin platform Pump.fun has come under heavy criticism for its livestreaming feature. Users have engaged in shocking behaviors such as child harm, self-harm, and threats to increase the value of their cryptocurrencies. One user said he would commit suicide if his token did not reach a certain value. While the company says it moderates content, social media has compared the situation to a “Black Mirror” dystopia, with calls for heavy regulation of the platform.
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BITCOIN (BTC)
BTC is priced at 94,400 with a 1.49% gain as of the morning hours. The price is currently trading at 94,375.40 and has approached the previously tested support line at 93,283.72. Maintaining this level may increase the price’s potential for recovery. However, if a close occurs below this level, the price is likely to pull back to 86,628.74. In upward movements, the price can be expected to rise again towards the resistance zone at 98,000. However, if it cannot maintain its presence above the resistance zone, the price may face pullbacks. In particular, the psychological resistance level of 100,000 poses a significant obstacle to upward movements.
ETHEREUM (ETH)
ETH is priced at $3430 with a 0.43% gain as of the morning hours. The price is currently trading at 3,428.57 and has pulled back from a short-term resistance level. The gray zone near 3,360 stands out as a potential support area. Staying above this level may increase the probability of the price moving back towards 3,500 levels. In downward movements, 3,248.52 should be monitored as a significant support level. Closing below this level may trigger the price to fall to 3,175.47. In upward movements, a permanent break above 3,500 is required for the price to regain strength and continue its movement above 3,500.
RIPPLE (XRP)
XRP is priced at $1.4470 with a 2.30% gain as of the morning hours. The price is currently trading at 1.4467 and has recently encountered resistance at 1.5227. If this resistance level is exceeded, the price can be expected to rise to 1.6300. However, staying below 1.5227 increases the possibility of a downward correction. When looking at support levels, 1.2775 appears to be an important intermediate support. Below this level, 1.2025 should be monitored as a second support area. In the event of a deeper pullback, the price can be expected to move towards the critical support area at 1.0180.
AVALANCHE (AVAX)
AVAX is priced at $42.11 with a 1.77% increase in value as of the morning hours. AVAX, which rose to $48 yesterday morning, encountered purchases at an important support level along with pullbacks. When the 4-hour chart is examined, if AVAX can stay above the $41.24 support level, it can be expected to retest the $44.20 – $45.25 resistance zone on the upward direction. If these levels are broken, the next resistance level of $48.25 can be tested. In a possible downward movement, the $41.24 – $40.05 level appears as the support zone. If it encounters selling pressure from these levels, a pullback to the $37.75 – $36.56 levels can be expected.
SOLANA (SOL)
SOL is priced at $238.43 with a 1.78% increase in value as of the morning hours. SOL, which continued its decline series yesterday after seeing its all-time high, started the day with a green candle. If the positive trend continues in SOL, which is facing purchases from the support zone, it can be expected that the $248.13 and then $259.94 levels will act as resistance. If these levels are broken, it can be expected to test the peak level of $264.39 again. In a possible downward movement, the $233.34 – $229.39 level band is expected to act as critical support. If these levels are broken, the $221.68 levels can be met with deeper sales. Therefore, it is important for investors to carefully monitor the determined critical support and resistance levels.
