This little uptick suggests a veritable garden party of interest and activity on the XRP market. Traders, it seems, are donning their finest speculative attire, ready to waltz into position ahead of any potential XRP price pirouettes.
But wait, there’s more! The surge in Fartcoin has come hand in hand with the Solana meme coin revival. Bonk (yes, Bonk) is up 35% in the last week, and let’s not forget about Dogwifhat (we’re not making this up, folks) and Popcat, who’ve seen over 20% gains. All of this means the collective market cap of Solana’s meme coins has shot up from $7.5 billion to $8.6 billion. I don’t know about you, but that sounds like a party.
Now, the technical tea leaves are spelling out a tale of potential crypto gold. The RSI is chilling at 59, like it’s just hanging out in the neutral zone, not a care in the world. But the MACD is whispering sweet nothings about short-term momentum, and the ROC is up by 10% – it’s like XRP just got a confidence boost from its crypto stylist.
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But, hold your horses! 🐴 This party was short-lived, as on-chain data shows a steady decline in active wallet counts since then. Talk about a buzzkill!
🏆 Ethereum, not to be outdone, has also joined the rally, reclaiming its throne above $2,000 after a modest2% hike, now trading hands at $2,050. Ripple, Solana, Dogecoin, and a plethora of other altcoins have followed suit, painting the market green with envy and substantial gains.
In a plot twist to rival your favorite soap opera, software intelligence firm Microstrategy, now dramatically rebranded as “Strategy” (because branding is life, obviously) said on March 24, “Hold my spreadsheet” and bought up 6,911 BTC for—wait for it—$584.1 million. All this while the rest of us are trying to decide if we can afford guac on our burrito bowls. 🥑😩
Our friend James Butterfill, the Head of Research at CoinShares, has a theory about this sudden burst of enthusiasm. He claims it’s all thanks to a hefty dose of market confidence that’s been brewing in the digital asset pot. Why, just last week, crypto ETPs were rolling in the dough, breaking a 17-day streak of outflows like a kid breaking a piñata at a birthday party! 🎉
Oh joy, oh rapture! Bitcoin’s price has finally managed to tap $87,600, a feat it hadn’t achieved since March 7. I mean, it’s not like it’s a big deal or anything, but hey, a 17-day high is worth celebrating, right? 🎉
“There is no reason to build an L2.
L1s can be faster, cheaper, and more secure.
They aren’t slowed down by a glacially moving L1 data availability stack, or have to compromise security with complex fraud proofs and upgrade multisigs.”