The latest plot twist comes from 21Shares, who filed a new ETF designed to track XRP’s price using the CME CF XRP-Dollar Reference Rate (XRPUSD_NY)-a fancy-sounding benchmark that’s all the rage among institutional investors. You know, the ones who wear suits, drink overpriced coffee, and pretend to understand the market. 😏
Economist, gold enthusiast, and part-time prophet of disaster, Schiff has been waving his gold-flag high while crypto crumbles beneath it. He tweeted on Oct. 11 that Bitcoin had fallen below $110,000 and Ether slipped under $3,700-because, apparently, the market likes to keep things exciting with a bit of chaos. Schiff is convinced that these “crypto carnages” signal more pain ahead.
Bitcoin, that digital phantom, has been dancing a jig of volatility, but last week…last week was different. It wasn’t just a stumble, it was a faceplant into the mud, orchestrated by a single man’s late-night pronouncements. The ‘Trump Trade’ has staggered back to life, and the marketplace is holding its breath.
But alas! The merciless hand of fate struck again, and ETH stumbled to $3,750 on the tragic Friday of October 10, leaving investors to clutch their hearts (and wallets) in despair. One must ask-does this noble altcoin still harbor some hidden vigor, or has it danced its final gavotte in this cycle?
Friday’s crypto meltdown was a leverage-fueled shitshow that stomped on altcoins while bitcoin strutted like a smug queen – and the sequel depends on these sneaky signals, says Wiston Capital’s Charlie Erith, the crypto whisperer. 🙄
Imagine the shock, the horror, when the U.S. slapped a 100% tariff on Chinese imports! The market, that delicate flower, wilted faster than a socialist’s hope in a capitalist’s world. Yet, BNB, the scrappy underdog, bounced back with the resilience of a street urchin dodging debt collectors. While other coins cowered, BNB flexed its muscles, proving once again that the BSC/BNB ecosystem is the circus where the real clowns-er, players-perform. 🎪
Apparently, this isn’t about quick flips or hyped-up liquidity; no, it’s a sophisticated plot aimed squarely at shareholder value. According to the ever-watchful Messari’s AJC, this token isn’t just some gimmick-it’s a Trojan horse, a secret weapon that shifts the game theory all the way into the shareholders’ favor. 🐎
Meanwhile, brave souls depositing-drumroll-1.4 billion USDT tokens into Binance over the last 24 hours, according to some fancy data from Coinglass. Total USDT injections into crypto exchanges hit a delightful $1.81 billion-because nothing says ‘trust’ like pouring billions into a digital Wild West. Cryptic stablecoins, the market’s version of a nest egg, are suddenly converging in one place, hinting that – surprise, surprise – traders are eyeing Bitcoin and its altcoin pals like a lion eyes its dinner.
Once a novelty, a sandbox frolic for traders in the pulsing crypto bazaar, that sought sanctuary from the catastrophic capers of volatility, stablecoins have evolved. Now they serve as the so-called stalwart digital doppelgängers for traditional fiat currencies. Inevitably pegged to the mighty “Benjamin” most often, they permit their holders to ferry and conserve value sans the mercurial waltzes of, let us say, Bitcoin or Ethereum. 📈
Evgeny Gaevoy, the man at the helm of Wintermute-or what’s left of it, depending on whom you ask-took to X (formerly Twitter, formerly a sane place) to dismiss rumors that his firm had been “rekt” by the latest crypto catastrophe. In a post dripping with the same optimism as a man insisting his sinking ship is “just taking on character,” Gaevoy declared it was “business as usual.” Meanwhile, traders wept into their empty wallets.
