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📣 Ripple Announces Major CBDC Collaborations with 10 Nations ● Garlinghouse claims that these CBDCs will serve a purpose analogous to stablecoins. ● Ripple recently debuted its stablecoin, Real USD (RLUSD) in Amsterdam. The CEO of Ripple (XRP), Brad Garlinghouse, has announced a significant partnership with ten separate nations to create their CBDCs. The specifics of these collaborations are still under wraps, but they all have one goal: to use Ripple’s blockchain technology to make the world’s financial institutions safer and more efficient. The partnership between Ripple and other countries is a watershed moment in the movement to use blockchain technology for national digital currencies. Garlinghouse claims that these government CBDCs will serve a purpose analogous to stablecoins, whose purpose is to keep their value constant relative to more conventional currencies. 🔸 Major Trend Towards Digitization While not all partnerships are made public, this project points to a major trend towards digitization in the financial industry. Spurred by the need for safer and more efficient payment systems. Also, the use of Ripple is anticipated to improve efficiency in cross-border transactions, increase financial transparency, and simplify processes in these nations. Moreover, at the most recent XRP Ledger Community Summit in Amsterdam, Ripple debuted its stablecoin, Real USD (RLUSD), and now they are preparing to launch it. Also, this new stablecoin is designed to stabilize XRP Ledger transactions by directly tying to the US dollar. Users will be able to use RLUSD on more platforms with its availability on Ethereum and the XRP Ledger. By appealing to a wider audience, including blockchain enthusiasts and financial industry experts looking for reliable digital transaction choices. This launch is likely to boost Ripple’s market position. This decision is in line with Ripple’s larger strategy to drive innovation inside its network. And increase its impact and usefulness in the blockchain ecosystem as a whole. $XRP #XRP #Ripple {spot}(XRPUSDT)

📣 Ripple Announces Major CBDC Collaborations with 10 Nations


● Garlinghouse claims that these CBDCs will serve a purpose analogous to stablecoins.

● Ripple recently debuted its stablecoin, Real USD (RLUSD) in Amsterdam.

The CEO of Ripple (XRP), Brad Garlinghouse, has announced a significant partnership with ten separate nations to create their CBDCs. The specifics of these collaborations are still under wraps, but they all have one goal: to use Ripple’s blockchain technology to make the world’s financial institutions safer and more efficient.

The partnership between Ripple and other countries is a watershed moment in the movement to use blockchain technology for national digital currencies. Garlinghouse claims that these government CBDCs will serve a purpose analogous to stablecoins, whose purpose is to keep their value constant relative to more conventional currencies.

🔸 Major Trend Towards Digitization

While not all partnerships are made public, this project points to a major trend towards digitization in the financial industry. Spurred by the need for safer and more efficient payment systems. Also, the use of Ripple is anticipated to improve efficiency in cross-border transactions, increase financial transparency, and simplify processes in these nations.

Moreover, at the most recent XRP Ledger Community Summit in Amsterdam, Ripple debuted its stablecoin, Real USD (RLUSD), and now they are preparing to launch it. Also, this new stablecoin is designed to stabilize XRP Ledger transactions by directly tying to the US dollar. Users will be able to use RLUSD on more platforms with its availability on Ethereum and the XRP Ledger.

By appealing to a wider audience, including blockchain enthusiasts and financial industry experts looking for reliable digital transaction choices. This launch is likely to boost Ripple’s market position. This decision is in line with Ripple’s larger strategy to drive innovation inside its network. And increase its impact and usefulness in the blockchain ecosystem as a whole.

$XRP #XRP #Ripple

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⚠️ Bitcoin reduced volatility points to market growth and institutional influence Bitcoin’s (BTC) recent price movements reflect a newfound stability in the crypto market, with a notable decrease in volatility, highlighted by a report by on-chain analysis firm Kaiko. Last week, amid US macroeconomic updates, Bitcoin experienced a brief surge from $66,000 to nearly $70,000 before settling back above $66,600, as per the Kaiko BTC Benchmark Reference Rate. Despite the week’s 4% dip and predominant selling on exchanges, Bitcoin’s 60-day historical volatility has consistently stayed below 50% since early 2023. This marks a significant change from the behavior seen in 2022, where volatility often exceeded 100%. In contrast, 2024 saw Bitcoin’s volatility at an all-time low of 40%, even as it hit record highs, a stark difference from the over 106% volatility in 2021. The subdued volatility suggests a maturing market, with the US market close now seeing a higher volume of BTC trades. This shift in market structure, along with the recent performance of spot BTC exchange-traded funds (ETFs) in the US, may be influencing the current price stability. Additionally, BlackRock’s rise to become the manager for the world’s largest spot Bitcoin ETF, surpassing Grayscale’s GBTC, underscores the evolving landscape of Bitcoin investment. 🔸 ETFs tank after FOMC meeting Despite the overall great performance of spot Bitcoin ETFs in the US, a streak of 20 consecutive days of inflows was broken last week. Notably, a new streak of three consecutive trading days of outflows is currently being formed, with over $550 million last week and $146 million in outflows on the first day of the current trading week. According to Jag Kooner, Head of Derivatives at Bitfinex, this could be tied to two key reasons. The first one is that investors lack conviction and are selling below their cost basis. $BTC #BTC #Bitcoin
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💥 Crypto Billionaire Justin Sun Sold This Altcoin He Bought Last Year At A Huge Loss Cryptocurrency onchain data has identified Justin Sun, one of the industry's wealthiest executives, shorting an altcoin. According to Onchain data, Justin Sun moved 6.22 million Curve Finance (CRV) tokens to the cryptocurrency exchange Binance. The current value of these tokens is at $2.07 million. 5 million of these tokens were purchased from the embattled Curve founder in August last year at a price of $0.4 per token. Curve's founder is currently facing a liquidation threat again, which led to a sudden drop in the CRV token price. At the time of writing this article, CRV price is trading at $0.31. In other words, Justin Sun sold the tokens, which he had previously purchased at a price of $0.4 in an over-the-counter (OTC) transaction, at a loss. Onchain data found that Justin Sun moved very small amounts of MATIC, TRU, GAL, PROS, and WOO tokens to Binance along with CRV tokens. The largest among them was the MATIC transfer of $88 thousand. At the time of this writing, Sun still has $1.05 billion worth of altcoins in his cryptocurrency wallets. #Altcoin #JustinSun #Altcoins
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⚠️ Chainlink (LINK) Price Faces Critical Test at Key Support This analysis updates the previous one, offering traders and investors>Chainlink Support Level Key Area to Watch In the previous analysis published on June 10, 2024, LINK was trading at $16. At that time, BeInCrypto predicted a significant price drop, which has since been confirmed. Chainlink breached a crucial support level at $15.6, continuing its decline to reach the critical support level of $14.30. LINK’s price has dropped below both the 100 EMA and 200 EMA on the daily chart, which is a strong bearish signal. The price is finding resistance at these EMA levels, reinforcing the downward trend. Furthermore, the price has penetrated the Ichimoku Cloud to the downside, indicating increased downward volatility. Key support levels to watch are $14.30 and $11.95, the latter being the next major support if $14.30 is breached. Resistance levels are noted around $15.60, $16.00, and $16.65, with significant resistance at the 100 and 200 EMA levels. The RSI has dropped further, from 43 to around 38, indicating sustained bearish momentum. The breakout of $14.30, a critical support level identified in the previous analysis, confirms the bearish outlook. Continued monitoring of this support is crucial, as failure to hold it could lead to a further decline towards $11.95. 🔸 The Number of Addresses Holding Unrealized Losses Is Growing Swiftly In June 2024, Chainlink (LINK) saw an important rise in the number of addresses holding LINK on the Ethereum blockchain that were facing unrealized losses. The percentage of such addresses jumped from 31.43% to 43.15%. Indicating a bearish trend and a growing trend of cutting losses. This increase in underwater holdings reflects a negative sentiment among LINK holders, with nearly half now experiencing unrealized losses. The largest daily increase in these addresses occurred on June 11. At the same time, the proportion of addresses at the break-even point remained stable, starting at 5.07% and ending at 5.81%. $LINK #LINK #Chainlink
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❓Ethereum Breaks $3,500 Barrier: Could It Reach $5,000 This Year? Ethereum’s analyst predicts a potential all-time high of $5,000 by year-end following its establishment of $3,500 as a solid support level.Despite a slight 0.33% decline in the past 24 hours, Ethereum has seen a significant 22.88% surge in trading volume.The imminent launch of spot Ethereum ETFs is anticipated to attract substantial institutional investment. Following Ethereum’s (ETH) achievement of establishing $3,500 as a stable support level, market analysts are now predicting even greater potential for the cryptocurrency.  An analyst has confidently forecasted that Ethereum could reach an unprecedented $5,000 by the year’s end. This optimistic outlook comes after recent price movements saw Ethereum maintaining its position above $3,500, a milestone emphasized in recent analyses.  💬 #ETH successfully turned $3,500 into support! Very few people are ready for this one to make new all-time highs, but $5,000 ETH is very much on the menu this year. Let's roll. — Jelle Presently trading at $3,540, Ethereum has seen a slight 0.33% decline in the past 24 hours, accompanied by a notable 22.88% increase in trading volume, reaching $12.88 billion. This surge indicates growing investor interest and potential momentum in the near term. Despite recent minor bearish trends, market sentiment remains positive. Analysts cite Ethereum’s ability to consolidate above $3,500 as a favorable technical signal, suggesting potential upward momentum ahead. A significant catalyst for Ethereum’s anticipated growth is the upcoming launch of spot Ethereum ETFs, which is expected to attract substantial institutional investment and bolster market confidence. However, Ethereum faces challenges on its path to $5,000. The cryptocurrency market’s inherent volatility and external factors like regulatory changes and economic conditions could impact its trajectory. $ETH #Ethereum
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📊 Bitcoin, Dogecoin, and Ethereum Volatility Drive $290 Million in Liquidations Volatility in the prices of Bitcoin, Ethereum, and Dogecoin today didn’t substantially affect most traders, as each of the three cryptocurrencies ended up roughly where they started by Monday evening. But price spikes along the way appear to have triggered a wave of crypto liquidations—over $290 million worth across the market. Ethereum led the pack, with about $58.9 million worth of liquidations triggered by ETH’s price movement in the last 24 hours, per data from CoinGlass. The majority of ETH-related positions liquidated on Monday were longs. While ETH only fell 2% overall on Monday, the token did briefly fall below $3,500. Though that dip was tiny (ETH only fell $12 below $3,500 at its lowest point today), and the token soon recovered, the crossing of that line may have triggered a wave of liquidations. Dogecoin experienced a similarly minor but significant drop today. The world’s top meme coin only briefly fell below $0.13 today, before recovering in a matter of minutes. But that dip appears to have triggered a massive wave of long position liquidations for the token. Over $44 million worth of DOGE long positions have been liquidated in the last 12 hours alone. 🔸 DOGE is down 3.6% on the day overall. Bitcoin, meanwhile, was crypto’s third-biggest target for liquidations today—with short positions constituting a thin majority of positions liquidated. In the last 24 hours, some $21 million worth of BTC short positions—and $19.86 million worth of long positions on the coin—have been liquidated. Though the price of the world’s top cryptocurrency has ended up, at writing, almost exactly even from where it stood a day ago, BTC briefly shot up past $67,000 on Monday afternoon, in an unfortunate development for those betting on the token’s downward trajectory. BTC now sits, at writing, at $66,376. $BTC $ETH $DOGE #BTC #ETH #DOGE
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