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XRP has recently surged past $2.60, marking one of its most significant rallies this year amid growing market optimism and Ripple’s ongoing legal progress. Despite the price surge, on-chain data
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As bitcoin climbed to a fresh record of $118,839, a long-dormant stash dating back to 2013 suddenly sprang to life—400 BTC moved for the first time in well over 12 years. Whale Reawakens: Dormant 2013 Bitcoin Cache Moves to a Custodian The blockchain parser btcparser.com shows a sizable trove of dormant coins stirred to life
Hayden Davis, the creator of the LIBRA token, is asking a New York court to dismiss a class-action lawsuit against him, arguing that the court does not have jurisdiction because LIBRA was offered globally, not specifically in New York. On Wednesday, Davis, who is also the co-founder of Kelsier Ventures, filed a motion in a New York federal court to dismiss the lawsuit brought by a group of LIBRA buyers led by Omar Hurlock. The buyers claim that Davis, along with his siblings and Kelsier Ventures co-founders, misled investors by promoting LIBRA as a project that would support Argentina’s economy while siphoning over $100 million from liquidity pools. Davis Says Court Lacks Jurisdiction Davis argued that he has no ties to New York, does not live or conduct business there, and did not target New York residents with LIBRA promotions. “The LIBRA tokens were offered to any buyer worldwide, with no focus on New York,” Davis said in the filing. He also stated that any statements he made about the token, including promises to repurchase LIBRA, were not made in New York or directed toward its residents. In February, LIBRA token crashed by 94% from a $4.6 billion market cap. Its rise was partly driven by an X post from Argentine President Javier Milei, who praised the token. The lawsuit also named blockchain firm KIP Protocol, its CEO Julian Peh, crypto platform Meteora, and its co-founder Benjamin Chow as defendants. Class Action Group Won Asset Freeze Davis claimed that the class-action suit violates his constitutional rights since it was filed in New York without establishing his connections to the state. He described the project as conceived in Argentina and stated that its related website was “passive,” only collecting applications from Argentine businesses without knowingly providing services to users in other states. In May, the class-action group secured a court order to freeze $57.65 million in USDC tied to the LIBRA token project through stablecoin issuer Circle, intensifying the legal battle. The LIBRA saga also sparked a political scandal in Argentina, with calls for President Milei’s impeachment, though he was later cleared by the country’s corruption watchdog . Now, the class group must prove Davis’s alleged actions connect to New York if the case is to proceed, while Davis seeks a dismissal without prejudice, allowing the claims to be filed in another court if necessary. The post LIBRA Token Creator Seeks Dismissal of New York Lawsuit appeared first on TheCoinrise.com .
The cryptocurrency world is buzzing! Bitcoin has once again defied expectations, smashing through previous all-time highs and sending ripples of excitement across the globe. But hold on a second – if you think this Bitcoin rally is just another fleeting speculative bubble, you might be missing the bigger picture. This isn’t your typical retail-driven frenzy; something fundamentally different is unfolding, suggesting that the most exciting chapters of this journey are still unwritten. Decoding the Current Bitcoin Rally: Why It’s Different In a recent and insightful update, crypto services provider Matrixport highlighted a crucial distinction about the current Bitcoin rally . Unlike the euphoric surges of 2017 or 2021, where leverage and rampant retail speculation often fueled parabolic climbs (and subsequent corrections), this ascent is remarkably grounded. We’re seeing: Minimal Leverage: The market isn’t overheated with excessive borrowed funds, which typically makes rallies fragile. Limited Retail Speculation: While retail interest is growing, it’s not the primary driver. This suggests a more organic, less volatile growth trajectory. Strong Spot ETF Inflows: A relentless stream of capital is pouring in from newly launched exchange-traded funds. Rising Institutional Demand: Major players, from hedge funds to asset managers, are increasingly allocating capital to Bitcoin. This unique confluence of factors paints a picture of a more mature, robust market. It’s not just about price action; it’s about a structural shift in how Bitcoin is perceived and adopted globally. The foundations for sustained growth appear stronger than ever, signaling that this Bitcoin rally has deeper roots and potentially much further to run. The Unstoppable Force: Spot Bitcoin ETF Inflows Perhaps the single most impactful catalyst for Bitcoin’s recent surge has been the monumental success of the Spot Bitcoin ETF s in the United States. Since their approval, these investment vehicles have become a magnet for capital, providing a regulated, accessible, and familiar gateway for traditional investors to gain exposure to Bitcoin without directly holding the asset. Consider the sheer volume: major players like BlackRock’s IBIT and Fidelity’s FBTC have seen unprecedented inflows, quickly accumulating hundreds of thousands of Bitcoins. This isn’t just new money entering the ecosystem; it’s a fundamental re-allocation of capital from traditional finance into digital assets. The demand from these ETFs is so significant that it often outpaces the daily supply of newly mined Bitcoin, creating a supply-demand imbalance that naturally pushes prices higher. This sustained buying pressure from the Spot Bitcoin ETF s acts as a powerful tailwind, providing a consistent bid for Bitcoin that was largely absent in previous cycles. It’s a clear signal that Bitcoin is transitioning from a niche asset to a mainstream investment vehicle. The Rise of Institutional Bitcoin Demand: A Paradigm Shift? Beyond the direct impact of ETFs, the broader trend of increasing institutional Bitcoin demand is arguably the most significant long-term driver. For years, Bitcoin was primarily a retail phenomenon, dismissed by traditional finance as too volatile or speculative. That narrative has dramatically shifted. Today, major financial institutions, corporations, and even sovereign wealth funds are actively exploring or already holding Bitcoin as part of their diversified portfolios. Why this change? Institutions are recognizing Bitcoin’s unique properties: Digital Gold: A hedge against inflation and currency debasement, especially in an era of unprecedented global debt. Portfolio Diversification: Its low correlation with traditional assets makes it an attractive addition for risk management. Technological Innovation: A bet on the future of decentralized finance and digital economies. This surge in institutional Bitcoin demand is not merely about speculation; it’s about strategic long-term allocation. These are not weak hands looking for quick profits; they are sophisticated investors building positions with a multi-year horizon. This fundamental shift lends unprecedented legitimacy and stability to the market, laying the groundwork for a truly global, institutionalized asset class. Unveiling Unpriced Catalysts: What Drives Bitcoin Price Prediction? While the current drivers are strong, Matrixport’s report emphasizes that several significant bullish catalysts remain largely ‘unpriced’ by the market. This means their potential positive impact hasn’t been fully factored into the current Bitcoin price prediction , suggesting further upside as they gain traction. What are these hidden gems? Mounting Political Pressure on the U.S. Federal Reserve: The political landscape often influences monetary policy. As economic pressures mount, there could be increased calls for the Federal Reserve to ease its stance, potentially through interest rate cuts or more accommodative policies. Such moves typically boost risk assets like Bitcoin, making it more attractive relative to traditional investments. The Potential Passage of the GENIUS Act: While specific details about a ‘GENIUS Act’ in relation to crypto aren’t widely publicized, in the context of bullish catalysts, it likely refers to hypothetical, forward-looking legislation that could be highly favorable to the crypto industry. This could involve clearer regulatory frameworks, tax incentives for digital asset adoption, or government support for blockchain innovation. Any significant positive legislative development would provide immense clarity and confidence, unlocking further institutional investment and adoption, thereby positively impacting the Bitcoin price prediction . Historically Strong July Seasonality: The crypto market, like traditional markets, sometimes exhibits seasonal patterns. Historically, July has shown a tendency for positive price action for Bitcoin. While past performance is never a guarantee of future results, this historical trend adds another layer of potential tailwind, especially when combined with stronger fundamental drivers. These unpriced catalysts represent potential ‘surprise’ upsides that could propel Bitcoin into new territories, adding fuel to the ongoing rally and shaping future Bitcoin price prediction models. Navigating the Crypto Market Outlook: Are Traders Underexposed? Despite Bitcoin’s impressive breakout to new all-time highs, a fascinating aspect highlighted by Matrixport is that most traders remain underexposed. This means a significant portion of the market, including both institutional and retail participants, has not yet fully committed to the current uptrend. What does this imply for the overall crypto market outlook ? Room for Further Upside: If a large segment of traders is still on the sidelines, there’s a substantial pool of capital waiting to enter the market. As prices continue to rise and FOMO (Fear Of Missing Out) sets in, this sidelined capital could flood in, pushing Bitcoin even higher. Reduced Risk of Immediate Overheating: Unlike rallies driven by speculative frenzy, the current ‘underexposure’ suggests that the market isn’t yet in a state of irrational exuberance, providing a healthier environment for sustained growth. Actionable Insights for Your Portfolio: Given this optimistic crypto market outlook , what should investors consider? Assess Your Exposure: Honestly evaluate if your current portfolio allocation aligns with your long-term conviction in Bitcoin. Are you truly prepared for potential further upside? Dollar-Cost Averaging (DCA): For those looking to increase exposure, DCA remains a prudent strategy to mitigate volatility and build a position over time. Stay Informed on Catalysts: Keep a close eye on developments related to Fed policy, regulatory news, and market sentiment, as these could accelerate the ‘unpriced’ catalysts. Risk Management: While the outlook is positive, always adhere to sound risk management principles. Only invest what you can afford to lose and understand the inherent volatility of the crypto market. Challenges and Considerations Ahead While the outlook for the Bitcoin rally appears robust, it’s crucial to acknowledge potential headwinds. Regulatory uncertainty, though improving, can still introduce volatility. Macroeconomic shifts, unexpected geopolitical events, or significant profit-taking by large holders could temporarily dampen enthusiasm. However, the underlying narrative of increasing institutional adoption and a more mature market structure suggests that any dips may be seen as buying opportunities rather than signs of a prolonged downturn. The fundamental drivers indicate a resilient path forward. A Compelling Future for Bitcoin The current Bitcoin rally is not just another surge; it’s a testament to the asset’s evolving maturity and growing acceptance in mainstream finance. Driven by unprecedented Spot Bitcoin ETF inflows and burgeoning institutional Bitcoin demand, this rally stands on far more solid ground than its predecessors. With significant unpriced catalysts like shifting political pressures, potential legislative tailwinds, and historical seasonal trends still on the horizon, the stage is set for Bitcoin to continue its remarkable ascent. The market’s current underexposure only reinforces the potential for further upside, suggesting that the journey towards wider adoption and higher valuations is far from over. This is a pivotal moment for Bitcoin, marking its undeniable transition into a truly global, institutional-grade asset. To learn more about the latest Bitcoin trends, explore our article on key developments shaping Bitcoin price action and institutional adoption.
XRP's rally might stop much sooner than anticipated
As Congress prepares to debate three major crypto bills during “Crypto Week,” the crypto community and advocacy groups are racing to turn momentum into real legislation.
Gould brings extensive legal and regulatory experience, as he previously served as Bitfury’s chief legal officer, a partner at Jones Day, and the OCC’s senior deputy comptroller and chief counsel. His appointment is part of the broader reshaping of financial regulatory agencies under President Donald Trump, who has also nominated crypto-friendly figures like Paul Atkins to the SEC. Jonathan Gould to Lead US Banking Watchdog Jonathan Gould has been confirmed as the new head of the US Office of the Comptroller of the Currency (OCC) after a 50-45 vote in the Senate on Thursday. Gould previously served as chief legal officer for blockchain infrastructure firm Bitfury, and now brings a strong mix of legal and regulatory experience to the position. In addition to his role at Bitfury, he was a partner at Jones Day and previously served as the OCC’s senior deputy comptroller and chief counsel from 2018 to 2021. Gould’s appointment is part of the shakeup of certain key financial regulatory bodies under President Donald Trump’s administration. Since taking office in January, Trump has overseen the confirmation of several high-profile nominees, including Paul Atkins to lead the US Securities and Exchange Commission (SEC). The Senate is also expected to vote soon on Brian Quintenz as chair of the Commodity Futures Trading Commission ( CFTC ). Gould’s confirmation is yet another instance where critics pointed to the Trump administration’s growing alignment with the cryptocurrency industry. Several of Trump’s picks, like Atkins, are seen as favorable to digital asset innovation. This could signal a huge policy shift toward crypto-friendly regulation. With Gould now confirmed, acting OCC head Rodney E. Hood is expected to step down. Additionally, no other replacements for upcoming vacancies at the CFTC have been announced beyond Quintenz. Interestingly, Gould is not the first Bitfury executive to transition into a key regulatory role. Brian Brooks, who served as acting Comptroller of the Currency from 2020 to 2021, was also briefly CEO of Bitfury and previously held top positions at Coinbase and Binance US. He currently sits on the board of directors at Strategy.
GMX Coin's price declined by over 25% following a hacking event. Positive news led to a reversal, and the price rose by 15% or more. Continue Reading: Watch GMX Coin Skyrocket with the Latest Turnaround Announcement The post Watch GMX Coin Skyrocket with the Latest Turnaround Announcement appeared first on COINTURK NEWS .