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In a dramatic rebound, XRP has seen a sharp influx of capital within 24 hours, adding nearly $30 billion to its market capitalization following one of the steepest single-day declines in its history. As of press time, XRP’s market cap stood at $143.3 billion, up from $114.8 billion a day earlier, an inflow of $28.5 billion.  XRP market cap chart. Source: CoinMarketCap The recovery comes just a day after the cryptocurrency suffered an unprecedented sell-off on October 10, when the broader market faced massive liquidations. During the flash crash, XRP’s market value plunged 50% in just 30 minutes, dropping from $161 billion at 4:50 PM ET to $80 billion by 5:20 PM ET. The collapse was part of a wider $19 billion liquidation wave across the crypto sector that sent major tokens tumbling. Crypto market crash  Notably, the sudden crash stemmed from the broader market sell-off sparked by President Trump’s announcement of 100% tariffs on Chinese goods and n...

As the cryptocurrency market came under heavy selling pressure, with Bitcoin (BTC) at risk of losing the $110,000 support level, BlackRock, the world’s largest asset manager, took a cautious step. Data shows that the company recorded no transactions for its Bitcoin exchange-traded fund (ETF).  Specifically, on September 22, BlackRock’s iShares Bitcoin Trust (IBIT) reported zero net inflows or outflows. On a day when most issuers faced significant redemptions, the absence of activity from such a major player stood out. Total Bitcoin spot ETF net inflow. Source: Coinglass While BlackRock stayed on the sidelines, the broader Bitcoin ETF market saw a wave of withdrawals. For instance, Fidelity’s FBTC led with $276.70 million in outflows, followed by ARK Invest’s ARKB at $52.30 million, Grayscale’s GBTC with $24.60 million, and VanEck’s HODL ETF with $9.50 million.  Other issuers, including Bitwise, Invesco, Franklin Templeton, and WisdomTree, reported no net mo...

Leaders of the crypto industry want to raise another $1 billion to sell even more solana (SOL) treasury stock, despite a terrible track record of delivering returns to shareholders. Jump Crypto, Galaxy Digital, Multicoin Capital, and Cantor Fitzgerald have secured an endorsement from the Solana Foundation to work on a share sale using the largest quantity of SOL on any public company’s balance sheet. If the deal finalizes, their new public company would outrank the largest publicly traded SOL treasury, Upexi. The arc of Upexi’s stock is similar to the stock of all other major SOL treasury companies: down. On April 21, in the midst of a springtime mania, investors valued Upexi at 10.4x more than the SOL on Upexi’s balance sheet. By July 24, that premium had declined 90%. As of publication time, Upexi remains 65% off its high for this year.  Nor has its pivot into SOL fixed any of its long-term struggles. Over the last five years, Upexi’s stock has declined 92%. ...

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