Ripple News: Chris Larsen Moves $60.5M XRP Amid SEC Appeal
Ripple co-founder Chris Larsen transferred 20 million XRP tokens, valued at $60.54 million, to an unknown wallet. This move coincides with the SEC filing a fresh appeal regarding XRP’s classification as a security.
Community Reaction
- Speculation rises that this may signal accumulation or strategic positioning.
XRP Price Action
- XRP experienced a minor 24-hour increase as this news broke.
Bitcoin News: Texas Strategic Bitcoin Reserve Bill
Texas is advancing digital asset adoption with Senate Bill 778, proposing the creation of a Strategic Bitcoin Reserve.
Key Features
- Accept public Bitcoin donations.
- Use up to 1% of state revenue to buy Bitcoin.
- Store assets in cold storage with regular audits.
Importance
If enacted, this bill would make Texas the first U.S. state to officially hold Bitcoin as a reserve.
Ethereum and Bitcoin ETFs Bounce Back with Record Inflows
Spot Bitcoin and Ethereum ETFs saw significant inflows on 15 January, indicating rising institutional interest.
Bitcoin ETFs
- Total inflows: $755M
- Top contributors:
- Fidelity: $463M
- Ark Invest: $138.81M
- Grayscale: $50.54M
Bitcoin Price
- Increased by 2.6% to $99,433.55
- Market cap: $1.96 trillion
Ethereum ETFs
- Total inflows: $59.78M
- Top contributors:
- Fidelity: $29.32M
- BlackRock: $19.85M
- Grayscale: $8.09M
Ethereum Price
- Rose by 4.45% to $3,370.65
The upward trend reflects rising investor trust in cryptocurrency ETFs.
Litecoin News: SEC Will Approve Litecoin ETF Shortly
According to Bloomberg analyst Eric Balchunas:
- “The SEC could soon approve a Litecoin ETF.”
Information
- Canary Capital restated its S-1.
- Principal custodians: Coinbase Custody Trust and BitGo.
Meaning
Litecoin is likely to become the next cryptocurrency to achieve ETF approval, following Bitcoin and Ethereum.
Altcoin Watch: Pepe Coin Whale Moves 588 Billion Tokens
A crypto whale deposited 588 billion PEPE tokens, valued at $10.99M, to Kraken, sparking concerns about a potential price crash.
Context
- The whale purchased the tokens for $5.2M, achieving a 141% ROI.
- The deposit suggests a likely sell-off, though market recovery may counterbalance this impact.
Key Takeaways
- The Ripple and SEC saga continues to drive XRP news.
- Texas leads the charge in Bitcoin adoption with its Strategic Reserve proposal.
- Bitcoin and Ethereum ETFs signal a renewed wave of institutional interest.
- Litecoin ETF approval could mark a new milestone for altcoin ETFs.
- Whale movements in smaller tokens like PEPE underline the volatility of the market.
Stay Updated
Keep track of these developments to navigate the evolving crypto market effectively.
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