San Francisco-based enterprise blockchain company Ripple hasreleased its latest quarterly report, in which it highlighted XRP's massive price rally that took place recently.

Notably, Ripple believes that the recent buyers of the token "were buying to hold."

This assumption is based on the fact that the rally was mainly driven by spot volume instead of "short-term speculative bets." This indicates that it might be not just a flash in the pan since the buyers likely have confidence in the token'

Austan Goolsbee, the president of the Federal Reserve Bank of Chicago, hasstated that the Fed is legally limited about what it can actually put on its balance sheet.

Earlier, Chair Jerome Powell stated that the Fed was actually legally prohibited from holding Bitcoin by the Federal Reserve Act, and the institution is not interested in a law change.

Back in 2021, Powellopined that Bitcoin was not a viable store of value due to its excessive volatility.

During his most recent press conference,

Grayscale, a U.S.-based asset management firm, has shared the details of its new cryptocurrency-based product. With Grayscale Dogecoin Trust kicking off, the segment comes one step closer to DOGE ETF approval. Meanwhile, opportunities for institutional exposure to meme cryptos remain limited.

Grayscale DOGE Trust goes live: What to know

According to the official statement by its team, Grayscale, a veteran U.S. asset management office, adds Grayscale Dogecoin Trust to its suite of crypto-based

SoftBank Group has made a $50 million investment into industrial-scale Bitcoin mining company Cipher Mining.

Matthew Sigel, head of digital asset research at VanEck, has opined that this is a "huge endorsement" for the diversified Bitcoin/AI model from SoftBank Group CEO Masayoshi Son.

"Further evidence that Bitcoin is emerging as the hurdle rate for innovators," he said.

Cipher CEO Tyler Page said that the company was thrilled to welcome the Japanese financial giant as an investor.

$160 mil

Here are the top three news stories from the previous day brought to you by U.Today.

XRP goes from 1.1 billion to 100 million: What happened?

XRP has experienceda significant decline in on-chain volume, with payments dropping from 1 billion to just 100 million, raising concerns about the asset's liquidity and market health. Despite this sharp decrease in transaction volume, XRP's price has remained relatively stable, hovering around the $3.10 mark. The asset has maintained its bullish momentum

Bulls have started losing the initiative, according to CoinStats.

ETH/USD

The rate of Ethereum (ETH) has increased by 4.37% over the last 24 hours.

On the hourly chart, the price of ETH has broken the local resistance of $3,370. If buyers can hold the gained initiative, the upward move is likely to continue to the $3,500 area by tomorrow.

On the bigger time frame, one should focus on the daily bar's closure. If it happens around current prices, traders may witness a test of the $3,500-$3,600

With January wrapped up, Cardano (ADA) added a comfortable 14.9% to its price. Nothing too shocking there — historically, January has been kind to ADA, with an average return of 19.7% and a median gain of 3.96%. It is almost expected at this point.

But now comes February, and things are not as straightforward. According toCryptoRank, the numbers split in two directions. The average return? A solid 36% gain. The median return? A much less encouraging -9.05%. That is a pretty big gap, and there i

Cardano (ADA), the second-largest proof-of-stake (PoS) cryptocurrency, might be getting closer to a splendid price upsurge. Seasoned cryptocurrency trader and analyst Ali Martinez says that the ADA price might be done consolidating very soon.

Cardano (ADA) completes consolidation, targets 40% jump: Top analyst

The Cardano (ADA) price is getting closer to the final phase of its consolidation, which took almost two months. By March 2025, the ADA price will be ready to exit the Symmetrical Triang

Dog-themed cryptocurrency Shiba Inu (SHIB) is approaching a crucial resistance level, with 162 trillion SHIB marking a significant barrier that could determine its next market move.

At the time of writing, SHIB was up 3.52% in the last 24 hours to $0.000193 as the crypto market sustained an earlier rebound following the Fed's interest rate decision this week.

According to IntoTheBlock data, 162.23 trillion SHIB are being held in the range between $0.00002 and $0.000022 by 144,610 addresses. Hi

Amid the ongoing price rebound by some meme coins, the race to maintain dominance and attract investors has intensified. Frog-themed meme coin Pepe (PEPE) is currently leading the price metrics with a more than 5% increase in 24 hours compared to Dogecoin (DOGE) and Shiba Inu (SHIB).

PEPE outpaces DOGE and SHIB in price performance

CoinMarketCap data, as of this writing, shows that PEPE was changing hands at $0.00001375. This represents a 6.71% increase in the last 24 hours. Meanwhile, the gen

For someone as influential asVitalik Buterin, it has always been interesting how little he has talked aboutBitcoin (BTC). But recently, he gave some insight, revealing that the leading cryptocurrency is indeed not a major part of his portfolio. He said he has less than 10% of his assets in BTC, which is pretty modest for someone as big as he is in the crypto world.

According to Arkham Intelligence, Buterin's total portfolio is estimated to be worth around $806.67 million. Most of that — around

Purpose Investments, a veteran Canadian asset management firm with $23 billion in assets under management (AUM) becomes the latest participant in the XRP ETF race. By sending its preliminary filing to the local securities watchdog, the team demonstrates its ambitions to issue world's pioneering exchange-traded fund on spot XRP.

XRP ETF preliminary approval requests sent by Purpose Investments

Purpose Investments, a Canada-based asset management firm, has filed a preliminary prospectus, with Ca

The crypto market remains mainly in the green zone, according to CoinMarketCap.

BTC/USD

The rate of Bitcoin (BTC) has fallen by 0.21% over the last 24 hours.

On the hourly chart, the price of BTC is going down after setting a local resistance level of $105,023. If the sellers' pressure continues, one can expect a test of the $104,000 area soon.

On the larger time frame, neither bulls nor bears are dominating. The volume remains low, which means none of the sides is ready for a sharp move.

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American crypto asset manager Grayscale Investments has introduced its first Dogecoin Trust in a bid to expand its digital asset offerings. According to itsannouncement, the new product will offer investors a direct way to gain exposure to DOGE, the native coin of the Dogecoin network.

Grayscale boosts DOGE to corporate buyers

Grayscale Investments highlighted the attraction to DOGE as one of the original coins that emanated from Litecoin. Since its inception, Grayscale emphasized that Dogecoi

With the future of its support in jeopardy, Shiba Inu is currently trading at a crucial price level. The profitability metrics indicate that a significant support range is linked to a staggering 429 trillion SHIB tokens. The selling pressure may increase if this support breaks. The price chart shows that SHIB is still struggling and that it is not able to recover lost ground by gaining enough bullish momentum. The asset is still below important moving averages, indicating a continued downward tr

The Cardano network has completed the Plomin hard fork, which introduced on-chain governance. The mainnet hard fork governance action was successfully enacted on Jan. 29 at 9:44 p.m. UTC, as intended and defined by the governance action mechanisms.

The most major development brought to Cardano by Plomin is the implementation of Delegate Representatives (dReps), who will vote on governance matters on behalf of ADA holders.

Following the success of the Plomin hard fork, ADA holders will continue

With its ecosystem's total value locked (TVL) rising significantly, Stellar is exhibiting encouraging growth indicators. The increase in TVL indicates that people are becoming more confident in Stellar's network and its growing contribution to decentralized finance. Nevertheless, even though this key indicator is rapidly increasing, the price of XLM has not yet reflected the same level of excitement. At the moment XLM is trading around $0.418; the resistance close to $0.428 is halting additional

Michael Saylor, cofounder of the Bitcoin-focused company MicroStrategy, has taken to his official account on the X social media network to make an important announcement. Saylor said that MicroStrategy is pricing its Strike Preferred Stock Offering, planning to raise not $250 million but $584 million.

MicroStrategy raises STRK offering to half billion USD

Saylor published a link to a press release published by MicroStrategy, adding a summary about the company raising the fundraising target. On

Stakeholders have begun contemplating the sector's future, with the crypto market inching closer to 20 years. Fundamentally, the conversations are moving toward how the cryptocurrency market will evolve as it gains broader adoption globally.

Ki Young Ju’s 5-year vision for crypto

Ki Young Ju, the founder of CryptoQuant, has shared his thoughts on this critical issue and how he sees crypto in the next five years.

Young Ju, known for hisinsightful commentary, sees the current online space prima

USDC by Circle and USD Tether (USDT) by Tether Limited are both demonstrating strong growth traction in recent weeks. Normally, such processes indicate a coming rally for net crypto capitalization, CryptoQuant data says. This bullish trend has gained steam despite delisting USDT for EU users on major exchanges.

USDC, USDT stablecoins sending bullish signals to market, CryptoQuant data says

Over the last 30 days, both USDT and USDC, two largest stablecoins responsible for 87% of the segment's v