XRP
$XRP
13 Results
FTX Selling Two-Thirds of Anthropic Stake for $884 Million, SWIFT Announces Phase 2 Results of Tokenization Experiments
U.S. equities are rising in Tuesday trading, with the SPY and QQQ both gaining approximately 0.21%. U.S. durable goods orders rose 1.4% in February, bouncing back after dropping 6.1% in January. The DXY (+0.04%) is flat on the day but remains above $104, while rates are showing modest gains across the curve. Crypto markets are showing slight declines, with $BTC (-0.22%) trading at $69.7k and $ETH (-0.72%) holding above $3,550. It...
Risk assets are starting the week on a strong note after a week marked by dovish data and the US Treasury's accommodating refunding schedule. Despite today's bounce in interest rates, the DXY remains relatively flat. Major equity indexes are showing slight gains, with healthcare and technology stocks leading the way. In the crypto market, assets are generally on the rise, with the recent rally broadening to other areas of the...
FINAL THOUGHTS ON RIPPLE DECISION In June, we identified the Ripple case as a possible catalyst for altcoins, as indications of progress for the defendants surfaced. Just last week, Ripple achieved a partial victory, likely benefiting altcoins targeted by the SEC and potentially prompting a shift towards a more legislative approach rather than an enforcement-focused one. _Source: Reuters, Fundstrat_ The court ruled that Ripple Labs' transactions of $XRP to institutional...
Equities markets open marginally higher after inflation data last week showed a slowdown in price increases, fueling hopes that the Fed can achieve price stability without triggering a recession. $SPX and $QQQ are up 0.2% and 0.4%, respectively, with earnings season to roll through further this week. Despite last week's encouraging developments on the court's ruling against Ripple, the digital asset market has retraced most of its gains since Wednesday....
COINS FACE ADDITIONAL TURBULENCE Last week, we seized the opportunity to "buy the fear" in response to the SEC lawsuits targeting major crypto platforms Coinbase and Binance. In our Core Strategy, we decreased our allocation to stablecoins to 10% and lowered our allocation to alts from 17.5% to 7.5%. This turned out to be fortunate timing on our part, as altcoins continued to face significant losses over the weekend. Moreover,...
Binance.US Announces Suspension of USD Deposits and Vitalik and Polygon Co-Founder Donate to COVID Research
Crypto markets are up slightly on the day, $BTC has risen 0.54%, and $ETH has risen 0.15%. Interestingly, the ETH Dominance metric, a metric that measures Etheruem's market cap compared to the rest of the crypto market, has reached its highest levels since the Merge last year and at the peak of the 2021 bull market, indicating that Ethereum is extremely relatively strong to the rest of the market. Altcoins...
PMIS SHOW SLOWING ECONOMIC GROWTH There was a significant amount of economic data released this week, with particular attention given to the PMI data, which is considered a reliable indicator of economic activity. In May, the manufacturing sector in the US experienced its seventh consecutive month of contraction, as indicated by the Manufacturing ISM Report. The Manufacturing PMI for May was recorded at 46.9, a data point that suggests a...