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Ripple's RLUSD stablecoin is set to expand its presence on major cryptocurrency exchanges, with new listings expected imminently, according to President Monica Long. Currently holding a market cap of $71.8 million, RLUSD is primarily traded on Bullish, which accounts for over 76% of its volume. The stablecoin's growth is fueled by Ripple's expanding payments business, which doubled last year, and a recent partnership with Chainlink to enhance its utility through accurate price feeds. Additionally, Long hinted at the potential approval of an XRP exchange-traded fund (ETF) soon, with several applications already submitted to the U.S. Securities and Exchange Commission (SEC).
XRP is poised for a potential breakout from a bullish flag pattern, which could lead to a 50% price increase, targeting $3.3 and nearing its all-time high of $3.84. Analyst Captain Faibik suggests that if successful, this rally could be followed by a longer-term surge, with projections reaching as high as $20 based on Elliott impulse waves.
Palantir Technologies has seen its stock soar in 2024, driven by strong demand for its AI solutions, with revenue growth reaching 30% year-over-year. However, analysts caution that the stock's valuation, significantly above its fair value estimate of $21, may not be sustainable, as high expectations could lead to sharp declines if performance falters. The company's shift towards commercial clients aims to create a more stable revenue stream, reducing reliance on volatile government contracts.
C2 Advisors, a Dallas-based UBS team managing $1.5 billion, specializes in assisting clients through transformational life events like business sales and divorces. Led by a majority women team, they emphasize collaboration, transparency, and a diversified investment strategy, focusing on liquidity, inflation protection, and alternative investments. Their outlook remains cautious yet optimistic, particularly regarding U.S. tech equities, while advocating for simplicity in financial management.
Gary Gensler, departing SEC Chairman, criticized the cryptocurrency industry as "rife with bad actors" during a Bloomberg TV interview, reflecting on his tenure marked by approximately 100 enforcement actions against fraud. He emphasized that most of the 10,000 to 15,000 crypto projects are unlikely to survive, likening them to venture capital investments. Gensler's strict regulatory stance has drawn skepticism from the crypto industry, which argues that compliance is challenging under existing frameworks. In a separate development, Elixir is partnering with Securitize to provide institutional access to decentralized finance for Hamilton Lane’s private credit fund, utilizing its stablecoin, deUSD, to enhance liquidity and composability for real-world assets.
US Treasury yields have surged to their highest levels since October 2023, driven by strong economic data and concerns over inflation, particularly in light of Trump's economic proposals. The 10-year Treasury yield approached the critical 5% mark, raising fears of a stock market sell-off as the correlation between equity and bond yields has turned negative. Analysts warn that a strong jobs report could exacerbate these pressures, potentially leading to a significant market reaction.
FTX creditor Lidia Favario has raised concerns over extravagant spending by bankruptcy managers, citing high-end hotel stays and excessive transportation costs that violate DOJ guidelines. She urged the court to enhance expense reviews to ensure accountability, as many creditors face significant financial losses. Additionally, creditor Sunil Kavuri warned of scam emails targeting FTX creditors, advising them to rely solely on the official claims portal for updates, as repayments are not expected before March 2025.
The Ethereum Foundation has sold 100 ETH for $329,463 in DAI to support research and development, marking its first sale of 2025 amid low demand from institutional investors. Despite short-term bearish trends, Ethereum's price shows potential for a major bullish breakout, with a fully diluted valuation of approximately $403 billion. However, recent data indicates a net cash outflow of $86 million from US spot Ether ETFs, highlighting ongoing challenges in attracting whale investors.
Movement Labs, a San Francisco-based team developing a layer-2 blockchain on Ethereum, is nearing the completion of a $100 million Series B funding round, valuing the company at approximately $3 billion. The funding surge follows a rebound in crypto markets, driven by renewed investor interest and a favorable political climate. Investors will receive equity and the proprietary Move token, which has seen significant trading activity since its launch in December.
Ripple's new stablecoin, RLUSD, has seen significant activity with over 20.7 million tokens transferred in the past 24 hours. Launched in December after a closed beta, RLUSD aims to enhance cross-border B2B payments and is fully backed by USD reserves. Ripple President Monica Long anticipates increased adoption across platforms and expects the SEC to approve more crypto ETFs, including an XRP ETF, in 2025.
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