Crypto self-custody is a fundamental right, says SEC’s Hester Peirce
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China’s top financial and law enforcement agencies recently convened a high-level meeting to reaffirm and strengthen the nation’s total prohibitive stance on cryptocurrencies. Reaffirming the Prohibitive Policy China’s top financial and law enforcement agencies have convened to reaffirm and strengthen the nation’s prohibitive stance on cryptocurrencies, warning that speculative activity has resurfaced and poses new […]
According to the latest on-chain evaluation, the recently-launched spot exchange-traded funds (ETFs) in the United States have added a new dimension to the XRP price dynamics. Institutional Divergence From On-Chain Activity A Classic Accumulation Sign On Friday, November 28, Cryptonchain, in a Quicktake post on the CryptoQuant platform, shared insights into XRP’s recent price action. The market analyst revealed that a notable on-chain dynamic is in play. Related Reading: Why XRP Will Not Reach $100 By End Of Year Despite ETF Launch The relevant indicator here is the XRP Active Addresses metric, which tracks the number of wallet addresses actively interacting with the XRP Ledger within a specific time period. This indicator provides insights about retail engagement, network health, and demand pressure. The analyst reported that the XRPL Active Addresses metric has seen a decline to around the 19,400 mark, its lowest level this year. What’s intriguing about this change is that an asset’s price action is typically expected to be in line with its network activity; this case, however, proves to be atypical. According to CryptoOnchain, while the XRP Ledger collapsed to its lowest levels seen this year, a strong defense of the $2.20 price support appears to be going on. This divergent behavior, noted the analyst, classically signals that institutions are silently accumulating tokens away from the XRP network. When retail activity sponsors price rallies, there are expectedly spikes in network activity due to Fear Of Missing Out (FOMO) among traders. However, institutions operate differently, as off-chain accumulations take place via OTC desks and custodial services (for example, Coinbase Prime and BitGo). What It Means For Price The online pundit explained that the decline in the number of active addresses to levels around 15,000 to 19,000 points to a relative absence of retail investors, an investor class with an aggressive reputation. As price thus maintains stability through this retail scarcity, it is apparent that there is a growing supply shock due to ETF inflows and increasing institutional positioning. Related Reading: Bitcoin Price Future: The Polarized Predictions Between Bulls And Bears—Who Will Prevail? With these conditions in place, CryptoOnchain posited that it is rational to expect a major pump in the XRP price, but under the additional condition that retail liquidity returns in a fairly considerable amount. As of this writing, the XRP token is valued at $2.18, reflecting an over 2% in the past 24 hours. However, according to data from CoinGecko, the altcoin is up by more than 14% in the last seven days. Featured image from iStock, chart from TradingView
Tweet: https://x.com/lookonchain/status/1994813047366717569?s=20 Arkham Intelligence: https://intel.arkm.com/explorer/address/0x2e6c32d3FF8A61D931C19FFDcBaEb98B53ebdB66 submitted by /u/kirtash93 [link] [comments]
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Self-custody of assets and financial privacy are both fundamental rights consistent with the pro-freedom philosophy on which the US was founded.
Two to be exact. Anyone else mining RVN these days? I haven't mined in 2 years. Sold all of my GPUs after the Eth staking debacle. submitted by /u/JoeGMartino [link] [comments]
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