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"Valour Launches First Dogecoin ETP, Capitalizing on Growing Crypto Interest"

The Crypto Basic

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Valour, an asset manager and a subsidiary of crypto firm DeFi Technologies, has announced the maiden launch of a #Dogecoin ETP. 

Read more on: https://thecryptobasic.com/2024/11/27/valour-debuts-first-dogecoin-etp-amid-surging-interest/
#CryptoNewss 

Disclaimer: Includes third-party opinions. No financial advice. May include sponsored content. See T&Cs.

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#RLUSD , the dollar-pegged Ripple stablecoin has hit a “huge milestone.” This is according to a recent report from leading crypto analytics platform CryptoQuant. The report by leading analyst J.A. Maartunn highlights that RLUSD has hit a total supply of $120 million within its first two months of launch amid growing adoption. Specifically, the total stablecoin supply now sits around $120.8 million. As the analyst highlighted, the bulk of the supply, about $83.3 million RLUSD, sits on Ethereum, while only about $37.4 million RLUSD is on the XRP Ledger. Still, he noted that the XRPL has dominated supply growth in recent weeks. On the other hand, the stablecoin’s supply on Ethereum has largely remained stable after initially accelerating in the first few weeks, highlighting a shift in demand dynamics. Maartunn attributed the demand shift to the lower fees on the XRPL compared to Ethereum. Another likely contributing factor is the rapid integration of the asset in the XRPL’s DeFi ecosystem. At the time of writing, xpmarket data shows 80 liquidity pools denominated in the stablecoin. The recent supply feat comes on the heels of the stablecoin reaching a milestone of 100,000 transactions earlier in the month. In line with the growing demand on the XRPL, 95% of RLUSD transactions at the time were recorded on the network. RLUSD has been tipped to bolster XRP liquidity and DeFi activity by serving as an easy on-ramp for market participants and a stable unit of value for offerings like loans. Despite these feats, RLUSD is still miles away from offering any real competition to established players like Tether and Circle, whose flagship products, USDT and USDC, boast market capitalizations of $142 billion and $56 billion, respectively. However, many anticipate that this status quo may change with greater support for RLUSD from leading exchanges like Binance and Coinbase. At the same time, Ripple has yet to integrate the asset into its leading payments business. #cryptonewstoday

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Recent analysis suggests that #shiba⚡ Inu’s new adoption has regressed with its prices, hitting a multi-year low on Monday. Shiba Inu’s struggles have gone beyond its price underperformance; the prominent meme coin’s new adoption rate has also dropped below its yearly threshold. The latest regression comes despite recent bullish developments from the ecosystem’s collaboration with the UAE government. Data from IntoTheBlock shows this lackluster adoption among new addresses in the Shiba Inu ecosystem. On Monday, the metric dropped sharply to a multi-year low of 12.73%, raising further concerns among enthusiasts. Dwindling New User Adoption For context, the new adoption rate metric tracks the percentage of transactions on an underlying network initiated by new addresses. The indicator shows the quota of contribution new wallets make to the daily activities on a blockchain. As a result, the recent drop suggests a lack of interest among new users in interacting with the ecosystem. Notably, IntoTheBlock’s data highlighted that this metric has hovered between 27% and 48% since January 2025, averaging around 33% this year before the sharp decline yesterday. Additionally, the Shiba Inu ecosystem has not seen such low new adoption in almost two years. Data shows that the last time the rate dropped to such lows was in March 2023, when it nosedived to 5.20%. New Adoption’s Correlation with Prices Meanwhile, historical analysis indicates a loose correlation between Shiba Inu’s price and the new adoption indicator. However, in a good number of cases, a regressing adoption almost always results in a corresponding price decline. For perspective, Shiba Inu’s sensational surge to its all-time high of $0.00008853 in October 2021 trailed a rise in new address interaction with its ecosystem. The metric started its slow-paced rally in July 2021, peaking at 58.26% a month after the price top. There have also been a few cases in which the new adoption ratio surged while the price did not, and vice versa. #CryptoNews🚀🔥V

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"US Bitcoin ETFs See Massive Institutional Investment in Q4 2024"

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#Bitcoin has fallen below $96k as BTC miners offload over 2,000 BTC. Will Bitcoin drop below the crucial support at $94,500? Over the past 24 hours, Bitcoin has shown little movement, currently trading at $95,657, reflecting a 0.67% drop. However, the market has experienced over $200 million in liquidations, with long-side traders losing $134.34 million. As pressure mounts on the bulls, will Bitcoin dip below its key support at $94,500? Let’s take a closer look. Bitcoin Price Analysis Puts Focus at $94,393 In the 4-hour price chart, the Bitcoin price trend reveals a bullish failure to cross above local resistance. Along with the resistance trendline, BTC faces constant rejection from the 50% Fibonacci level at $98,611. The ongoing pullback from the resistance zone is approaching the 23.60% Fibonacci level, which is a critical support at $94,393. Before the recent rejection, Bitcoin’s price action showed potential for a rounding-bottom reversal, supported by the 23.60% Fibonacci level. However, a retest of this support could weaken the chances of a reversal and put more pressure on the level. This could significantly increase the likelihood of a downward trend. Despite this, technical indicators are leaning slightly bullish. The True Strength Indicator (TSI) has reached oversold territory, suggesting a possible reversal. Additionally, the Stochastic RSI has shown a positive crossover, with the lines moving out of the oversold region. #CryptoNewsFlash

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