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NEWS:đŸ”„đŸ”„ 📱 JUST IN: XRP's Mother Company Ripple To Launch Dollar Backed Stablecoins. The Financial Times confirmed that San Francisco-based Ripple is on schedule to introduce a stablecoin backed by USD. With such a move, the company behind XRP plans to build a bridge between crypto and traditional finance, making it possible to use blockchain technology for trading securities As noted by Ripple, the stablecoin market has ballooned to a whopping $150 billion. Tether's USDT stablecoin alone is worth $106 billion, according to the latest data provided by CoinGecko. The new stablecoin will be fully backed by dollar deposits, cash equivalents, and government bonds. Ripple claims that it will be conducting attestations on a monthly basis. Ripple has pitched the new product as an "enterprise-grade" stablecoin with a "compliance-first mindset." Ripple's upcoming stablecoin will be launched simultaneously on Ethereum and the XRP Ledger. In the future, the stablecoin's issuance will also be expanded to other blockchains, according to the company's announcement. $XRP #Stablecoins #write2earn

NEWS:đŸ”„đŸ”„

📱 JUST IN: XRP's Mother Company Ripple To Launch Dollar Backed Stablecoins. The Financial Times confirmed that San Francisco-based Ripple is on schedule to introduce a stablecoin backed by USD. With such a move, the company behind XRP plans to build a bridge between crypto and traditional finance, making it possible to use blockchain technology for trading securities

As noted by Ripple, the stablecoin market has ballooned to a whopping $150 billion. Tether's USDT stablecoin alone is worth $106 billion, according to the latest data provided by CoinGecko. The new stablecoin will be fully backed by dollar deposits, cash equivalents, and government bonds. Ripple claims that it will be conducting attestations on a monthly basis.

Ripple has pitched the new product as an "enterprise-grade" stablecoin with a "compliance-first mindset."

Ripple's upcoming stablecoin will be launched simultaneously on Ethereum and the XRP Ledger. In the future, the stablecoin's issuance will also be expanded to other blockchains, according to the company's announcement.

$XRP #Stablecoins #write2earn

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BREAKING đŸ”„đŸ”„ VENEZUELA BANS CRYPTO MINING Venezuela's Ministry of Electricity is imposing a complete ban on cryptocurrency mining, justifying it with the "stabilization of the national energy grid." Ministry officials said the country's energy security is more important than the digital asset mining industry. The growing mining industry is impacting businesses by having to regularly cut off electricity supply due to overloading and substation accidents. The incidents have been particularly increasing since 2019. Carabobo state governor Rafael Lacava has urged locals to report mining farm activity "in order to prevent disruptions to the power grid." The Venezuelan government insists: the ban on mining is part of an anti-corruption campaign that began with the arrest of several high-ranking officials, among them the former head of the national crypto-asset authority, Joselit RamĂ­rez. Venezuela's Attorney General Tarek William Saab alleges that government officials were involved in oil deals that circumvented the law. #BTC #BinanceLaunchpool #altcoins #ETHETFS
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PYTH, ID AND AVAX TO UNLOCKED OVER 2 BILLION TOKENS THIS WEEK An unlock is the unlocking of tokens that were previously frozen under the terms of investment rounds or other fundraising programs. Pyth Network $PYTH Unlock date: May 20 Number of unlocked tokens: 2,130,000,000 PYTH Current circulating supply: 1,500,000,000,000 PYTH Space ID $ID Unlock date: May 22 Number of unlocked tokens: 18,490,000 IDs Current circulating offer: 430,506,132 ID Avalanche $AVAX Unlock date: May 22 Number of unlocked tokens: 9,540,000 AVAX Current circulating offer: 382,775,370 AVAX #BTC #buythedip #notcoin #ETHETFS #altcoins
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Inflows into U.S. spot bitcoin ETFs totaled more than $221 million — On May 17, the U.S. sector of spot bitcoin-ETFs recorded an inflow of capital, while in Hong Kong - an outflow. — The crypto fund from Fidelity managed to attract the most funds. — The fund of Grayscale Investments also recorded an inflow of $32 million. On May 17, 2024, the U.S. spot bitcoin-ETF sector recorded a capital inflow of $221.54 million, according to SoSo Value. According to the platform, the crypto fund from Fidelity took the top spot in terms of capital inflows on May 17. It added $99 million to its balance sheet. The second is IBIT from BlackRock - $38 million. In third place is the investment product of Grayscale Investments 1 $32 million. The other funds received a total of $52 million. The Hong Kong sector of spot bitcoin-ETFs recorded an outflow of funds - 6.41 BTC. A similar trend can be traced among Ethereum-based products. Here the outflow amounted to 31.32 ETH. Earlier we reported that more than 600 companies invested a total of $3.5 billion in spot bitcoin-ETFs during the week. #BTC #BTCETFS #BitcoinETFs #ETHETFS #BlackRock
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More than 80% of recently listed tokens on Binance are bleeding out. ls this a buy opportunity or a liquidity exit for insider traders The value of the vast majority of tokens listed on binance over the past six months have fallen in value since they were listed, raising concerns for investors looking for the newest cryptocurrencies. Of the 31 tokens analyzed, only five coins were highly rated, including Memecoin (MEME) and Ordi (ORDI) on the Bitcoin blockchain. As well as Jupiter (JUP), Jito (JTO) and Dogwifhat (WIF) tokens on the Solana (SOL) blockchain. According to Andy Lian, an intergovernmental blockchain expert and author of NFT: From Zero to Hero, the fact that more than 80 percent of recently issued tokens are in the negative is indicative of the difficult market situation. Lian said that the current state of the cryptocurrency market is described as calm, with some altcoins still trending despite a general lack of momentum overall. "Many of the projects listed on Binance may have a longer growth period, the growth may not be instantaneous like in the previous bull market," he added. Nevertheless, new tokens on Binance are listed with an average fully diluted valuation of more than $4.2 billion, despite the lack of a real user base. According to a researcher under the pseudonym Flow, this could significantly limit their growth potential. "More often than not, tokens launched on Binance are no longer an investment vehicle - all of their upside potential has already been lost. Instead, they represent exit liquidity for insiders who capitalize on retailers' lack of access to quality early investment opportunities," Flow writes. #ETHETFS #altcoins #buythedip #BTC
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SOLANA TO HIT $200 NEXT WEEK READ WHY SOL Solana reached its highest price in a month on Friday, beating most crypto companies. According to the co-founder of Syncracy Capital, the token is "still the best deal in this cycle" and could reach $200 by next weekend. SOL hit $170 on Friday, its highest price in more than a month, and recently fell slightly to $166. It has gained nearly 7% in the past 24 hours and is now up more than 40% from the local Crypto market bottom in early May, "The strength of $SOL has been incredible during this rebound," Daniel Cheung, co-founder of digital asset hedge fund Syncracy Capital, said in an X post. "It's pretty clear that this is still the best trade in this cycle." Cheung said he was increasingly "confident" that SOL could regain the $200 level by the end of the month and hit new record highs "soon." SOL hit its all-time high of $260 in November 2021, at the peak of the previous bull cycle. #solana #altcoins #MicroStrategy #BlackRock #buythedip
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