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taylorrose0047

@taylorrose0047

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Since November, ETH has outperformed BTC in crypto spot and derivatives markets, according to a December report by Bybit, a crypto exchange. Meanwhile, BTC ETFs saw the biggest net outflows ever on Dec. 19.
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Jack Mallers, founder and CEO of Strike, believes Trump has the “potential to use a day-one executive order to purchase Bitcoin” although he cautioned that it would not equate to a 1 million Bitcoin purchase.
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Iliya Kalchev, dispatch analyst from crypto lender Nexo, believes “the Bitcoin Reserve Act could be a landmark moment for Bitcoin signaling its “recognition as a legitimate global financial instrument.”
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Ranked the third largest global exchange by trading volumes, Coinbase has a significant share of USDT trading on its platform.
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The rally can be attributed to several factors, including Ripple Labs signing key partnerships, the potential approval of an XRP ETF in the United States, and the likely approval of Ripple's RLUSD stablecoin by the New York Department of Financial Services (NYDFS).
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XRP has been on a historic rally since mid-November 2024, climbing as high as $2.19 per token, price levels not seen for seven years.
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Data from CoinMarketCap shows XRP now has a considerable $122 billion market cap, compared to Solana’s current market capitalization of approximately $111.9 billion.
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Ripple’s XRP flipped Solana's market capitalization on Dec. 1. At the time of writing, this makes XRP the fourth-largest cryptocurrency by market capitalization, right beneath stablecoin issuer Tether.
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According to data from CoinGlass, open interest in XRP has skyrocketed 30% in the last 24 hours to reach a total of $4 billion across major exchanges and trading platforms.
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“Open Interest is up 37% already — watch for volatility. The last similar event led to a -17% drawdown,” said Maartuun, adding:
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In a Dec. 1 post on X, CryptoQuant analyst Maarten Regterschot noted that open interest in XRP (XRP) — a measure of open derivatives positions — had spiked massively in the last 24 hours, warning that sharp upticks can result in a quick sell-off.
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Analysts warn Ripple’s native XRP token could be experiencing a “leverage-driven” pump as the price of the asset soars to reach levels not seen since 2021.
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Under the proposal, VASPs would be required to provide BCB with information, including client verification, transfer values and other details.
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The Brazilian central bank specifically proposed to expand the scope of the foreign exchange market with activities including crypto payments, sales, custody and transactions denominated in foreign currency.
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While slowing ETF inflows are common at the end of the month, a resurgence in ETF buying will help catalyze Bitcoin’s next leg up, according to Bitfinex analysts, who told Cointelegraph:
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United States-based spot Bitcoin ETFs logged two days of net negative outflows, with net cumulative outflows of over $122 million on Nov. 26, Farside Investors data shows.
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Sluggish investments in the United States spot Bitcoin exchange-traded funds (ETFs) have also contributed to Bitcoin’s price slump.
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Today in crypto, crypto liquidations reached $470 million after Bitcoin failed to break the $100,000 mark and retraced slightly. Tether minted an additional $3 billion USDT, and non-fungible tokens (NFTs) are on track to close November with strong momentum.
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Data from Arkham Intelligence revealed that $2 billion in USDt was minted on the Ethereum blockchain, and an additional $1 billion USDt was minted on the Tron network in back-to-back transactions.
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According to Lookonchain, Tether has minted approximately $13 billion USDt since Nov. 8. On Nov. 24, Tether CEO Paolo Ardoino said, “In 2025, Tether will need to reach hyper-productivity to accomplish our grand vision.
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