Trust Wallet, a leading multichain wallet, has made a strate | The Crypto Basic on Binance Square

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Trust Wallet, a leading multichain wallet, has made a strategic partnership with Alchemy Pay for seamless and enhanced crypto ramp solutions. 
#cryptocurreny  #CryptoCommunityWatch  #CryptoNews🔒📰🚫 

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Grayscale has submitted a proposal to the U.S. Securities and Exchange Commission for a #Polkadot exchange-traded fund. The application, filed through Nasdaq, seeks approval to list and trade shares of the Grayscale Polkadot Trust. The proposed ETF will function as a Commodity-Based Trust, with shares representing a proportional interest in the trust’s assets. Grayscale’s Proposal and Key Players According to the filing, Grayscale Operating and Grayscale Investments Sponsors, both subsidiaries of Digital Currency Group, will oversee the trust’s operations. The custodian for the trust is Coinbase Custody Trust Company, while CSC Delaware Trust Company will act as trustee. Notably, the trust, formed in January 2021, will not actively manage assets but will hold DOT and track its value through the index price. The market price of its shares is expected to fluctuate with DOT’s market movements. Over time, the amount of DOT represented by each share will decrease as assets cover the trust’s expenses. Function and Market Impact The trust’s activities will include issuing shares in exchange for DOT deposits and selling DOT to cover operational costs. It may also redeem shares for DOT, pending regulatory approval. The trust will not attempt to maximize profits or minimize losses but will provide investors with direct exposure to Polkadot. Unlike direct crypto purchases, the ETF aims to simplify acquiring and holding DOT while minimizing associated security risks. Notably, Polkadot’s price stands at $4.43 during this press, reflecting a 6.17% decline over 24 hours and a 7.81% decrease over the past week. The trust’s performance will closely follow DOT’s market price, making it essential for investors to monitor Polkadot’s fluctuations. #CryptoNewss

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Liquidity within the #XRP Ledger AMM pools has crossed the 13 million XRP mark, reflecting a growing traction towards AMMs on the network. The automated market maker (AMM) pools, which have been sources of liquidity for the XRP Ledger decentralized exchange, have been on a steady ascent amid growing demand. Data from XRP Scan shows that the total amount of XRP within these pools has crossed 13 million. The growing trend bolsters liquidity on the XRPL DEX, cushioning transactions and trading activities. It also reflects users’ increasing interest in pooled transactions, boosting the total value locked in the network. More Liquidity on the XRP Ledger The data shows that the total XRP pooled within the XRPL AMMs stands at 13,276,182 XRP, worth $30 million at the current market price. Notably, these numbers have increased substantially over the past months amid renewed interest in liquidity provision. Meanwhile, the number of AMM pools has surged drastically, particularly coinciding with XRP’s impressive price performance. Currently, there are 18,468 active AMM pools on the XRP Ledger and 17,059 total assets. Remarkably, these growing numbers followed the launch of the RLUSD/XRP AMM pool. With the recent AMM Clawback amendment gaining validator consensus, the pool pair went live on the XRP Ledger, instantly gaining traction among liquidity providers. Since then, its liquidity has surged to become the fourth largest on the network, with 671,272 XRP ($1.52 million) locked in. Notably, the CRYPTO/XRP pool has the largest XRP stake, with 3.8 million XRP ($8.7 million). #cryptonewstoday

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