Category: Crypto market

VivoPower Surge After $100 million Ripple Buy to Bolster XRP Treasury Strategy

Posted on by Olumide Adesina

VivoPower International PLC, a solar energy company listed on Nasdaq, saw a significant increase of 32.12%, rising to $5.10 on Friday.

 

This spike followed the company’s announcement of plans to expand its digital asset treasury strategy, specifically targeting XRP. VivoPower intends to invest $100 million in privately held shares of Ripple Labs. The purchase will be made directly from existing shareholders and comes after two months of thorough due diligence.

This acquisition is still subject to approval from the executive management, as stated in a press release issued on Friday.

Kevin Chin, the executive chairman and CEO of VivoPower, shared, “We plan to build our portfolio by purchasing both XRP tokens and Ripple shares. This strategy will help us reduce the average cost of XRP acquired while aiming to maximize returns.” VivoPower will be the first publicly traded U.S. company to offer investors exposure to both Ripple equity and XRP, and will continue to purchase XRP tokens directly.

Ripple’s preferred partner for private share transactions, to oversee its strategy, manage custody, the company will collaborate with BitGo and subscribe to Nasdaq Private Market. An independent auditor will review VivoPower’s Ripple holdings.

Ripple itself began with a total of 100 billion XRP, of which approximately 14 million have been burned, leaving the company with about 41 billion XRP, largely held in escrow. In addition to XRP, VivoPower operates the stablecoin payment platform Rail and works with custodians MetaCo and Standard Custody and Trust. It also manages the RLUSD stablecoin and the digital asset prime broker Hidden Road, enhancing VivoPower’s leadership in the digital asset space.

Arthur Hayes Re-Enters ETH Market, Pledges to Hold Ethereum Indefinitely

Posted on by Olumide Adesina

Arthur Hayes, a co-founder of BitMEX, repurchased Ethereum just one week after selling a significant amount of it. According to on-chain data, Hayes sold 2,373 ETH for approximately $8.32 million when the token was trading near $3,507. This sale, which took place about a week ago, allowed him to secure profits before Ether’s recent surge.

Hayes reversed $10.5 million in USDC across several transactions on Saturday with stablecoins designated for purchasing ETH above $4,150—substantially higher than his previous exit point.

He expressed his feelings about this on X, tagging Tom Lee, the co-founder and head of research at FS Insight by Fundstrat, saying, “Had to buy all back, do you forgive me @fundstrat?” He further added, “I promise that I will never profit again.”

Last week, Hayes, who is the Chief Investment Officer of the Maelstrom Fund, warned that increasing macroeconomic pressures could drive Bitcoin back down to $100,000. After the weak July Non-Farm Payrolls report, which showed only 73,000 new US jobs, Hayes expressed renewed concerns about tariffs, suggesting that slow credit growth in major economies could negatively impact nominal GDP and push Bitcoin and Ether lower, potentially reaching $100,000 and $3,000, respectively.

 

According to EmberCN, a group of unidentified whales and institutions has accumulated over 1.035 million ETH, worth roughly $4.17 billion, through exchanges and institutional trading platforms since July 10.

BlackRock Holds Back on Solana and XRP ETF

Posted on by Olumide Adesina

BlackRock, a leading investment firm, has officially announced that it has no plans to file for exchange-traded funds related to Solana or XRP. This announcement follows widespread market speculation and legal developments connected to Ripple and the SEC. Without immediate plans for XRP or Solana ETFs, BlackRock reaffirms its focus on Bitcoin and Ethereum products.

 

Notably, BlackRock executives have not personally commented; however, their statement addresses persistent speculation in the cryptocurrency market. A BlackRock spokesperson remarked, “No plans to submit applications for either [XRP or Solana] product at this time.”

The news impacts Solana and XRP, removing potential catalysts from upcoming ETF announcements. BTC and ETH remain the only US-listed spot crypto ETF assets. As such, no new institutional funding impacts these altcoins at this time.

BlackRock’s focus on Bitcoin and Ethereum underscores its strategic direction amid U.S. regulatory clarity. Market observers anticipated potential altcoin ETF filings, but this announcement clarifies the current scope of BlackRock’s institutional interest.

The ongoing speculation influences market sentiment but does not affect institutional ETF strategies. BlackRock’s statement confirms that near-term institutional product launches for these cryptocurrencies remain unplanned. Historically, the launch of Bitcoin and Ethereum spot ETFs led to significant market inflows.

Expert analysts, such as Eric Balchunas, predict future altcoin ETF approvals; however, current market conditions prioritize established assets, highlighting ongoing transformations in the market. Balchunas noted,

Bloomberg analysts stated a 95% chance that the SEC will approve the pending XRP ETF applications this year.

Bank of America: 99% of Crypto Tokens Doomed to Vanish in a Decade

Posted on by Olumide Adesina

Bank of America made a bold prediction that within the next ten years, nearly 99 percent of over 26,000 cryptocurrency tokens currently in use will go extinct. Today’s financial systems mainly rely on outdated, centralized infrastructures that are inefficient and lack interoperability, according to the report shared by cryptocurrency researcher SMQKE.

It also emphasizes the long-term effects of the evolving financial infrastructure and the anticipated role of tokenization in transforming traditional finance and blockchain applications. Emerging technologies like tokenization pose a growing threat to these systems, many of which have been around for over 20 years.

 

BofA Global Research forecasts a shift over the next 15 years as tokenization becomes more embedded in both the financial and non-financial sectors.

The report clearly distinguishes between traditional crypto tokens and tokenized assets. Tokenized assets are digital representations of real value that can be securely exchanged within regulated, permissioned systems. Conversely, many current cryptocurrency tokens are considered unnecessary or redundant, mainly used for experimentation or speculation. The report suggests that most of these tokens are unlikely to survive as the market consolidates because they offer little long-term utility.

The analysis indicates that only a few crypto tokens will persist if they have institutional backing, practical use, and widespread adoption. Although the report doesn’t specify which tokens will survive, it implies that only a small number of projects with strong foundations will be relevant in the future.

This outlook aligns with the broader trend of financial institutions exploring blockchain’s potential while remaining cautious about its volatility and decentralization..

ETH Smashes $4.1K: Fueling the Next Ethereum Rally

Posted on by Olumide Adesina

Ethereum (ETH) is at a turning point in its price trend for this year. Technical indicators and institutional activity suggest a strong possibility of a sustained breakout above $4,000, particularly as the cryptocurrency approaches $4,200 on August 9, 2025. For traders with short to medium-term perspectives, this is a critical moment to evaluate strategic entry points and capitalize on the emerging bullish momentum.

The Relative Strength Index (RSI) currently stands at 69.15, placing it in a neutral-to-overbought zone, which suggests that upward momentum is strong without immediate signs of exhaustion. Additionally, the MACD line is at 185.53, positioned above the signal line at 183.83, and the positive histogram shows a value of 1.70, confirming a bullish MACD setup.

Binance maintains a strong bullish stance, as indicated by a long-to-short ratio of 3.03. Open interest has risen to $52.69 billion, a 12% GAIN. Moreover, options volume has surged by 131%, with traders anticipating a breakout at $4,200. These indicators suggest that the market is ready for a strategic shift.

 

However, traders should remain cautious despite the overwhelmingly bullish technical signals. A sharp correction toward $3,700 or even $3,650 might occur if prices do not stay above $3,800. Nevertheless, given the current level of institutional accumulation and high futures trading volume, such a decline seems unlikely unless there is a significant change in macroeconomic factors.

XRP ETF Hopes Fade to 65% with SEC Commissioner’s Pushback

Posted on by Olumide Adesina

The prospects for approval of a US XRP exchange-traded fund (ETF) have been significantly affected by ongoing opposition from Securities and Exchange Commission (SEC) Commissioner Caroline Crenshaw.

Recent developments showed that, after traders considered Crenshaw’s likely vote against the proposal, the probability of XRP ETF approval, as seen on prediction market platforms like Polymarket, dropped to 65 percent .

This was a sharp decline from earlier highs of up to 90%, marking a sudden shift in market sentiment. Crenshaw’s opinions on cryptocurrency ETFs have become a frequent source of controversy. All 13 crypto ETF proposals reviewed by the SEC this year—with cases involving Ethereum, Bitcoin, and related rule changes—have been rejected by her vote. She remains the only commissioner opposing these proposals, raising questions about the regulatory environment for digital assets. Her influence has partly contributed to a stall in the development of XRP ETFs.

Speculation has also increased due to reports that BlackRock, one of the largest U.S. asset managers, might enter the XRP ETF market. Maxwell Stein, the company’s director of digital assets, will speak at Ripple’s Swell 2025 event and could discuss a potential move into XRP-related products.

Crenshaw’s opposition remains a key obstacle despite growing institutional interest.  Her strict regulatory stance is further evidenced by her criticism of SEC guidance on stablecoins and staking procedures [XRP ETFs are still gaining popularity around the world despite these obstacles].

Japanese firm SBI Holdings has applied for an ETF that includes both Bitcoin and XRP, indicating that institutional adoption outside the U.S. is expanding. This global momentum could bolster XRP’s long-term viability as an ETF asset, potentially counteracting delays in the U.S..

Forex Signals Brief for Aug 8: DJT, CORZ, Wendy’s Q2 Earnings Close the Week

Posted on by Skerdian Meta

Today we have the Canadian employment data, but attentions will be on the Trump Media, Wendy’s and Core Scientific Q2 earnings reports. Continue reading “Forex Signals Brief for Aug 8: DJT, CORZ, Wendy’s Q2 Earnings Close the Week” →

Ethereum’s Vitalik Champions Treasury Firms, Urges Leverage Caution

Posted on by Olumide Adesina

Vitalik Buterin, a co-founder of Ethereum, endorsed Ether treasury companies but warned that if not managed carefully, the trend could turn into an “overleveraged game.’

Buterin said that the growing number of publicly traded companies buying and holding Ether is positive because it exposes the token to a broader range of investors, he stated in an interview with the Bankless podcast that was made public on Thursday.

Buterin said, “There are unquestionably worthwhile services being offered there.” He also mentioned that people have “more options,” especially those with “different financial circumstances,” when companies invest in ETH treasury firms instead of holding the token directly.

Bitcoin and Ether being the most popular, with billions of dollars raised, the so-called crypto treasury companies are a major trend on Wall Street. However, Buterin cautiously tempered his support, stressing that excessive leverage must not be the cost of ETH’s future.

Naturally, if you were to wake me up in three years and tell me that Treasury securities caused ETH’s downfall, I would assume they somehow turned it into an overly leveraged game. He described a worst-case scenario where a drop in Ethereum’s price led to forced liquidations, which then caused the token’s value to fall further and eroded trust

Buterin believes ETH investors are disciplined enough to avoid such a collapse. He mentioned the co-founder of the Terra blockchain, which crashed in 2022, and said, “These are not Do Kwon followers that we’re talking about.”

The market for publicly traded companies holding Ether has surged to $11.77 billion, with BitMine Immersion Technologies and SharpLink Gaming at the forefront. BitMine is the fourth-largest cryptocurrency holding among public companies, with 833,100 ETH valued at $3.02 billion..

Stephen Miran, Crypto Supporter, Chosen for Federal Reserve Role

Posted on by Olumide Adesina

Stephen Miran, a crypto-friendly, has been appointed by President Donald Trump to the Federal Reserve Board of Governors.

Trump expressed his approval in a post on Truth Social on Thursday, stating, “He has been with me since the start of my second term, and his knowledge of economics is unmatched — he will do an excellent job.”

The Federal Reserve decided not to issue an interest rate cut this week.

Miran is set to fill a recently vacated position on the central bank, which was previously held by Adriana Kugler, through January 2026. Kugler announced her resignation last week and indicated that she will be returning to Georgetown University as a professor in the fall.

Currently, Miran serves as the chair of the Council of Economic Advisers and has advocated for simplifying crypto regulations.

He commented in November 2023 on the impact of innovation on regulation, stating, “The percentage of ‘innovation’ in recent decades that can be attributed to merely evading regulations never ceases to amaze me. Uber, cryptocurrency, Airbnb…”

His remarks came in response to the announcement that Changpeng Zhao, the CEO of Binance, was stepping down after pleading guilty and agreeing to pay $4 billion to settle charges related to violations, including sanctions and anti-money laundering laws.

The Department of Justice claimed that Binance willfully ignored U.S. regulations. Miran noted, “Maybe we should streamline a lot of regulations, even though Binance did some evil stuff (helping finance Iran and Hamas).” 

Miran has experience as a senior strategist at Hudson Bay, an investment firm that has been trading claims in the FTX bankruptcy, which filed for bankruptcy in late 2022. In November 2023, Sam Bankman-Fried, the CEO of FTX, was convicted on seven criminal counts, including two counts of wire fraud and conspiracy to commit wire fraud, and he was sentenced to nearly 25 years in prison. Miran’s LinkedIn profile also lists previous roles at Fidelity Investments and the U.S. Department of the Treasury.

SEC Finally Settles with Ripple, XRP on Rampage

Posted on by Olumide Adesina

The SEC and Ripple have decided to withdraw their appeals in the Second Circuit case, bringing to a close one of the most prominent legal battles in the cryptocurrency industry. Due to the dismissal, each side will be responsible for its expenses and fees. XRP was up 14% after the deal was made public

Lawyers for the Securities and Exchange Commission and Ripple Labs have jointly decided to withdraw their appeals in the Second Circuit, seemingly ending one of the biggest legal battles in the cryptocurrency industry. The joint stipulation of dismissal, filed Thursday, stipulated that each party would pay its fees and costs.

“We’re closing this chapter once and for all, and focusing on what’s most important — building the Internet of Value,” stated Brad Garlinghouse, CEO of Ripple, in June, announcing the company’s plan to withdraw its cross-appeal.

Judge Analisa Torres’ mixed decision from 2023 will serve as the case’s final ruling, as both parties have now exhausted their appeals. Judge Torres sided with Ripple on “blind bid” sales to retail investors but declared that hundreds of millions of dollars’ worth of XRP sold to institutional investors were illegal securities sales.

Bill Morgan, an attorney, was thrilled, describing it as “the best news” in five years. “The SEC v. Finally, the Ripple case is over. Boom. He underlined, “Appeals dismissed.”.

According to the filing, which was made by Federal Rule of Appellate Procedure 42(b)(1), “each party shall bear its costs on appeal.”. About the SEC’s main appeal and Ripple’s accompanying counterappeal, it stated that the dismissal applies to the “above-mentioned appeals.”.