🔥 Bitcoin Breaks the Downtrend and Breaks through $65,000

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📣 Top 2 Cryptos To Watch In June 2024 🔸 Cardano (ADA): The Smart Contract Innovator Cardano (ADA) is known for its unique approach to smart contracts and blockchain technology. Its research-driven development and focus on scalability and sustainability make it a standout in the crypto market. Cardano’s innovative technology and growing ecosystem position it for significant growth. 🔸 Ripple (XRP): The Payment Revolution Ripple (XRP) is transforming the way cross-border payments are made with its fast and cost-effective solutions. Its partnerships with major financial institutions highlight its potential to disrupt the traditional payment industry. Ripple’s innovative approach makes it a top meme coin to watch in June. $ADA #ADA $XRP #XRP

🏛️ Ripple President Says XRP ETF Would Make a Lot of Sense During a recent interview with CNBC, Ripple President Monica Long said that an XRP exchange-traded fund (ETF) would make "a lot of sense." "If you think about it, only XRP and Bitcoin have regulatory clarity on status in the U.S. XRP has been a top 10 asset by market cap and is about the top 5 if you look at daily traded volume. So, I think that it will make a lot of sense," she said. Long's statement comes after Ripple CEO Brad Garlinghouse recently predicted that the launch of a spot XRP ETF was seemingly "inevitable." During a recent CNBC interview, he clarified that approving several altcoin ETFs would make sense since investors typically do not want to have exposure to a single coin. At the same time, he believes that the upcoming Ethereum ETFs will be very successful. Long expects to see even more institutional interest in the space. Sophisticated players are entering the relatively nascent crypto market with the help of Bitcoin ETFs or tokenized assets. 🔸 Ripple's stablecoin is expected this year The yet-to-be-named stablecoin project is expected to go live by the end of 2024 according to Long. "We are working on all the things you need to do in order to bring a product like this to market," she said. Long claims that there will still be a need for the XRP token even after Ripple launches its stablecoin project since the former will still be able to serve as a bridge asset. The Ripple executive has pointed to various projections showing that the stablecoin market could reach more than $3 trillion in cumulative market cap within the next five years. Stablecoins are seeing great demand since they provide easy access to US dollars in various parts of the world. Moreover, stablecoins are convenient for conducting payments. $XRP #XRP #Ripple

🔥 Shiba Inu Soars: Daily Transactions Hit $135M, Price Surges ● SHIB’s daily transactions surged by 99%, exceeding $135 million, signaling heightened investor activity. ● A burn rate exceeding 10,000% on June 4 removed about 370 million SHIB tokens from circulation, potentially boosting the token’s value. ● Shibarium, processing over five million blocks by May’s end, has enhanced SHIB’s transaction speed, reduced fees, and improved scalability since its summer launch. Shiba Inu (SHIB) has witnessed a significant surge in its price today, marking a notable 10% increase and positioning itself among the leading altcoins in the current market climate. Latest data indicates that SHIB is now trading at around $0.00002612 per token. This surge coincides with a substantial rise in transaction volume, with SHIB’s daily transactions surpassing $135 million, representing a remarkable 99% surge compared to the previous day. Concurrently, the coin’s price has surged by over 6%, indicating a growing interest among investors. This surge in transaction volume suggests a notable increase in whale activity within the SHIB ecosystem, signaling substantial transactions and heightened involvement from major investors. This resurgence has led to positive returns for many investors, with a significant portion now finding themselves in profitable positions. Notably, approximately 73% of SHIB’s circulating supply is currently under the control of these influential market players. The recent price rally in SHIB can be attributed to several key factors propelling momentum within the ecosystem. The token burn mechanism has experienced heightened activity, with an exceptionally high burn rate recorded on June 4th. This activity resulted in the removal of approximately 370 million SHIB tokens from circulation last month alone, effectively reducing the token’s supply and potentially enhancing its long-term value. $SHIB #SHIB

🤯 Expert Predicts Solana’s Value Could Skyrocket by 47x from Recent Lows ● Raoul Pal predicts Solana could rise up to 47 times its previous lows, targeting $750 to $1,000. ● Solana has increased over 600% this year, with recent gains driven by advances like the “Fire Dancer” solution. ● Market data shows Solana’s open interest is up 7.69% to $2.62 billion and active addresses exceeding 1 million. A prominent financial analyst foresees a highly optimistic future for Solana (SOL), predicting that its value could potentially increase up to 47 times from its previous lows. Solana, currently trading at $174, has experienced a staggering rise of over 600% since the start of the year, with a 5.1% increase in the last 24 hours and a 0.8% uptick over the past week. Raoul Pal, founder and CEO of Real Vision and Global Macro Investor, has underscored the promising future of Solana. Pal envisions SOL prices climbing to between $750 and $1,000, citing the cryptocurrency’s resilience and the significant technological strides it has made, such as the “Fire Dancer” scalability solution. He believes that Solana, along with Bitcoin and Ethereum, has demonstrated its robustness in the volatile cryptocurrency market. Pal draws comparisons to Ethereum’s bull run in 2020, suggesting that Solana might follow a similar pattern, potentially leading to substantial price growth. He also highlights the impact of non-fungible tokens (NFTs) on Solana’s market, pointing out the platform’s cost-effective NFT creation and the potential for innovative new uses for NFTs in the future. Current market data aligns with Pal’s positive outlook. Solana’s open interest, an indicator of futures market liquidity, has increased by 7.69%, reaching a value of $2.62 billion, alongside a 20% increase in trading volume. Additionally, the number of active Solana addresses has grown from under 800,000 to over 1 million in the past month, signaling increased user engagement and adoption. However, despite Solana surpassing Ethereum in active addresses. $SOL #SOL #Solana

📣 SEC Chairman Gensler weighs in on approving more token ETFs Gensler cites lack of investor protection in crypto markets amid ETF discussion. SEC’s Chairman Gary Gensler was questioned today on CNBC’s Squawk on the Street about the possible approval of exchange-traded funds (ETF) indexed to tokens such as Osmosis (OSMO) and Bonk (BONK) in the US. Jim Cramer, one of the show’s hosts, highlighted how multiple tokens registered millions in trading volume “this very morning,” and questioned if the US shouldn’t have “some sort of products” to capture this volume. 💬 “Let me say something more broadly about crypto markets: right now, without pre-judging anyone, these tokens, whether the ones Jim listed or other tokens, have not given you the disclosures that not only do you need to make your investment decisions, but also are required by the law,” said Gensler. He adds that the SEC’s role is to guarantee investors have disclosure and that exchanges are properly regulated to prevent fraud, market manipulation, and avoid trading against their customers. 💬 “And these crypto exchanges, Jim, are doing things we would never allow this New York Stock Exchange to do. Our laws don’t allow you to trade against your customers.” Furthermore, Gensler mentions bankruptcy cases in crypto. Although he doesn’t name specific companies or their former executives, the SEC Chairman hints that his remarks apply to Do Kwon, former Terraform Labs’ CEO, who is facing an extradition case after being arrested in Montenegro. 💬 “Some of the leading lights in this field are either in jail, or about to go to jail, or waiting for extradition […] It’s a suboptimal situation for investors. You are investing in a field right now that you are not getting the proper disclosure,” concludes Gensler on the next crypto ETFs topic. #gensler

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