Day: July 18, 2025

Gold Melts Under Sun after Trump Dismisses Fed Chief Oust

Posted on by Olumide Adesina

Gold prices fell Thursday amid some improvement in risk appetite after U.S. President Donald Trump downplayed fears that he would prematurely fire Fed Chair Jerome Powell. Trump on Wednesday said it was “highly unlikely” he would fire Fed Chair Powell; however, it remained a possibility if there was evidence of fraud in the Fed’s ongoing renovation project.

Concerns over Powell’s firing were fueled by Trump ramping up his attacks on the Fed Chair, and several members of Trump’s Republican allies were also seen calling for Powell’s immediate removal. Trump claimed that Powell has been too late in cutting U.S. interest rates, demanding that he do so immediately to prevent economic damage.

Powell and several Fed policymakers, on the other hand, have signaled that interest rates will remain unchanged until the inflationary impact of Trump’s tariffs becomes clear.

Trump’s downplaying of his crusade against Powell helped marginally improve market sentiment, which in turn sapped some near-term demand for gold and boosted U.S. equities.

Gold prices gained around 28% so far this year, with the global trade war, geopolitical risks, and central bank buying being the key drivers of the precious metal’s rally.

BlackRock’s Spot Ethereum ETF Booms as ETH Price Closes in on $3.5K

Posted on by Olumide Adesina

A record $726 million has been invested in Ethereum spot ETFs, mostly by BlackRock, as the price of ETH approaches $3,500 due to growing institutional interest.  Corporate treasuries have added more than 600,000 Ethereum to their holdings over the past month, indicating increasing confidence in the asset’s long-term value.

Strong market conviction is shown by whale wallets actively buying ETH above $3,450, with recent individual purchases exceeding $38 million. Spot ETFs experienced a record $726 million inflow led by BlackRock, supported by corporate treasury accumulation and whale buying as Ethereum nears $3,500.

The unprecedented $726 million daily net inflow into Ethereum spot ETFs in the US has surpassed the previous high of $428 million set in December 2024. This rise highlights growing institutional appetite for ETH exposure as Ethereum approaches its highest prices since early 2024. With $499 million in inflows, BlackRock’s Ethereum ETF (ETHA) was the top performer, followed by Fidelity’s FETH with $113 million.

These ETFs now hold over 5 million ETH combined, representing more than 4% of the total circulating supply. The $6.48 billion in net inflows US spot Ether ETFs have received since their July 2024 launch reflect increasing confidence in Ethereum as a strategic asset.

Ripple (XRP) runs faster than Light, Breaks all time high

Posted on by Olumide Adesina

XRP has now reached a new all-time high (ATH) of $3.51 after more than six months.

The surge is driven by increased institutional interest in XRP and general market optimism. XRP has also gained strong support from individual investors. As a result, XRP even overtook Tether (USDT) to become the third-largest cryptocurrency globally by market cap, standing at $207 billion.

XRP’s next major target is to break through the $3.80 level. If XRP can maintain this level as support, it might continue to climb, potentially reaching the $4.00 range.

However, a price correction could occur if investors decide to cash out after the altcoin’s ATH. Profit-taking seems likely, especially after such a long wait.

The U.S. House of Representatives has unofficially approved the CLARITY Act, a significant legislative proposal for a structured market framework for digital assets. As a result, major cryptocurrencies are also performing well.

XRP, as one of the leading alternative cryptocurrencies, is nearing a new record high. Notably, the Democratic vote count on CLARITY has exceeded expectations, with 71 Democrats voting “yes,” indicating greater support for the significant cryptocurrency legislation than anticipated.

XRP Surges as Ripple Founder Transfers Millions to Coinbase

Posted on by Olumide Adesina

Chris Larsen, a co-founder of Ripple, transferred over $25 million worth of XRP to Coinbase, sparking considerable interest in the cryptocurrency community.

 

The fact that Larsen transferred more than 106 million XRP to centralized exchanges in 2024 indicates a broader trend that highlights strategic portfolio management during XRP’s market surge. During a period of increased market volatility,

Larsen’s wallet activity shows both cautious liquidity management and confidence in XRP’s long-term value. Investors and analysts are paying attention to Chris Larsen’s recent $26 million XRP transfer to Coinbase. Along with this move, XRP hits a seven-month high, emphasizing the asset’s renewed momentum.

Larsen has transferred approximately 106 million XRP since 2024 to centralized exchanges, indicating this transfer is part of a larger pattern. Larsen remains well-positioned even after these large transfers.

Chris Larsen and other cryptocurrency whales play a key role in shaping market sentiment. Large transfers to exchanges often trigger speculation about potential selling pressure. However, there are several ways to interpret these movements.

They could mean repositioning liquidity for other investments, taking profits after a price rally, or diversifying a portfolio to lower risk. Whale transfers may lead to short-term price swings, based on historical data; however, the overall price trend depends on broader market conditions and demand levels.