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Donald Trump Campaign Confirms To Build Bitcoin and Crypto Army

Mark Brennan
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Donald Trump Campaign Confirms To Build Bitcoin and Crypto Army

Donald Trump Campaign vows to make the Bitcoin and Crypto army defeat Biden.

Biden supporter Elizabeth Warren criticized crypto by saying she was forming an ‘anti-crypto army’ to limit Americans’ ability to control their own money, as stated in a reelection ad she shared in March 2023.

In response, the Trump campaign announced that its supporters would rally behind a new crypto donation option and build a bitcoin and crypto army that would be aiming for victory on November 5th.

Trump Campaign Embraces Crypto Donations

On Tuesday, May 21, the Trump campaign revealed its plans to start accepting cryptocurrency contributions, portraying this decision as a stand against what they describe as “socialistic government control” over U.S. financial markets.

Supporters of former President Donald Trump now have the option to donate via “any cryptocurrency accepted through the Coinbase Commerce product,” according to the campaign’s press release.

The announcement connects President Joe Biden, who is seeking re-election, with Sen. Elizabeth Warren, D-Mass., a prominent critic of the cryptocurrency industry known for her regulatory push.

“Biden surrogate Elizabeth Warren said in an attack on cryptocurrency that she was building an ‘anti-crypto army’ to restrict Americans’ right to make their own financial choices,” the campaign mentioned, referencing a reelection ad Warren posted on X in March 2023.

With this new cryptocurrency option, the campaign claims, “MAGA supporters will build a crypto army moving the campaign to victory on November 5th!”

Although the Trump campaign has raised more funds than Biden in April, it still trails in overall cash on hand. The new crypto donations will be reported as in-kind contributions, similar to gifts of stock, allowing the campaign to either liquidate or hold onto the digital currency.

“Contribution limits and disclosure requirements for crypto donations will follow Federal Election Commission regulations,” the campaign stated.

This move is part of Trump’s ongoing efforts to engage the crypto community, which, according to April 2023 polling from Pew Research Center, tends to be younger and more male. For instance, in December, Trump sold NFT trading cards that were purchasable in cryptocurrency. Additionally, he hosted a dinner for NFT backers at Mar-a-Lago earlier this month, urging crypto supporters to vote for him due to the Biden administration’s anti-crypto stance, as reported by Politico.

Conversely, Biden’s campaign has remained skeptical about cryptocurrency. Just hours before Trump’s announcement, Biden’s team sent a text warning supporters that “cryptocurrency executives and oil barons are coming out of the woodwork for Trump.”

The Biden campaign did not respond immediately to CNBC’s inquiry regarding their stance on accepting crypto donations.

While Tuesday’s announcement branded Trump as the “first major party nominee” to embrace crypto donations, it should be noted that Trump is not the official nominee until July.

Moreover, other presidential candidates like Robert F. Kennedy Jr. and Sen. Rand Paul have previously accepted cryptocurrency donations. Kennedy announced in May 2023 that his campaign would accept Bitcoin, and Paul did the same during his 2015 presidential run.

PEPE Trader Turns $83 into $79.4M Making 958,580X Gains

Mark Brennan
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PEPE Trader Turns $83 into $79.4M Making 958,580X Gains

PEPE token records an all-time high as a savvy trader turns $83 into $79.4M with a 958,580x gain by holding 6.44 trillion tokens across 3 wallets.

The PEPE token has shattered expectations in recent times, achieving an all-time high and bringing incredible returns to investors. Through a series of strategic investments, a single trader transformed a modest $83 investment into a splendid $79.4 million. This equates to a massive 958,580 times return on the initial investment.

Strategic Acquisitions Fuel Massive Returns

This is according to a detailed analysis by blockchain analytics firm Lookonchain. The data points to a single trader managing three interconnected wallets, which initially purchased approximately 6.44 trillion PEPE tokens using only 0.041 ETH, equivalent to $83.

Pepe trader turns dollars into millions

Image Source: https://x.com/lookonchain/status/1792933803759137035

According to Lookonchain, the trader’s approach was characterized by calculated patience, opting to hold the entire balance without selling any as PEPE’s value skyrocketed. 

Transaction Insights and Token Appreciation

The transactions that fueled this monumental rise were carried out on April 15, 2023, across three separate wallets under the control of a single individual. The first wallet initiated a transaction on Uniswap V3, where 0.0143 ETH ($28.73) was exchanged for roughly 2.14 trillion PEPE tokens.

Simultaneously, the second and third wallets also engaged in significant trades on the same platform. The second wallet swapped 0.0135 ETH ($27.23) for approximately 2.1 trillion tokens, and the third exchanged 0.0133 ETH ($26.85) for about 2.2 trillion tokens. At that time, the PEPE token was trading at a mere $0.0000000658 per token.

However, within a year, the value of PEPE tokens surged by 21,564.48 times, as tracked by CoinMarketCap, with the token price at $0.00001232 at the time of writing.

PEPE Shows Bullish Signals

Technically, the MACD indicator on the daily chart for the PEPE token displays a compelling vertical movement, signaling a strong bullish trend. Positioned at 0.000001293, the MACD line lies above its signal line, suggesting that the bullish momentum has room to continue in the near future.

PEPE USD 1 Day Chart Source Tradingview
PEPE 1-Day Chart

Additionally, the MACD’s histogram chart shows large green bars that extend above the zero line at 0.0000003935, further reinforcing the strength of the current bullish trend. These positive technical signs indicate that the PEPE token is likely to see further price increases in the upcoming days.

Ethereum Price Forecast: Will ETH Reach $4k after ETF Approval?

Mark Brennan
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Ethereum Price Forecast: Will ETH Reach $4k after ETF Approval?

Ethereum price rose to a 40-day peak of $3,719 on Tuesday May 21, 2024, up 30% over the past week, bullish staking trends provide a glimpse into what to expect after the spot ETF approvals.

Ethereum Price Hits 65-day Peak, Overtakes BTC as ETF Approval Looms.

According to Bloomberg analysts, there’s now a 75% chance that the US Securities and Exchange Commission (SEC) will approve ETH spot ETF this week. Based on recent filings from digital asset management giants, including VanEck and BlackRock, the SEC is now in a race against time to deliver a verdict before the May 23/24 deadline.

Curiously, Ethereum price has been on a tear since Bloomberg Senior ETF analyst Eric Balchunas broke news of the impending ETF approval broke on Monday,  outperforming the Bitcoin in May 2024 by a considerable margin.

Ethereum (ETH) price vs. Bitcoin (BTC) price action, May 2024 | TradingView
Ethereum (ETH) price vs. Bitcoin (BTC) price action, May 2024 | TradingView

Ethereum price rose to a 65-day peak of $3,811 in the early hours of May 21, bringing it May 2024 gains to 36.54%. A closer look at the chart above shows how ETH performance in the last 48 hours has seen it overtake Bitcoin in terms of monthly timeframe growth.

While ETH price has surged 36.54% between May 1 and May 21, Bitcoin price has only increased by 25.1%. This underlines crypto investors’ current overwhelming preference to take Long positions on ETH against BTC ahead of the SEC’s impending approval verdict.

ETH Staking Surges $90 Million on 3 Days

More so, there are growing speculations that ETH ETFs will pull more demand than BTC ETFs due to added passive income that could be generated by Ethereum’s Proof-of-Stake protocol.

Recent trends observed on the beacon chain suggests that investors are already making strategic moves to front-run the possible upside from inflow of funds into ETH ETFs.

The chart below shows the real-time changes in the number of coins currently staked on the Ethereum 2.0 beacon chain smart contract.

Ethereum ETH 2.0 Staking trends May 18 - May 21 | Beaconcha.in
Ethereum ETH 2.0 Staking trends May 18 – May 21 | Beaconcha.in

Since the turn of the week, Ethereum investors have staked an additional 25,184 ETH, according to official data from the beacon chains. This brings the total  stake to 32,154,810 ETH.

Valued at the current price, the newly-staked ETH coins are worth approximately $95 million. This suggests that majority of holders are looking to hold out for more gains despite ETH prices currently trending at 65-day peaks.

More so, with the added passive income from staking, some analysts predict that BTC ETF holders may seek to switch to Ethereum ETFs upon approval.

If this scenario plays out, ETH staking contracts may witness a prolonged trend of rising deposits in the days ahead. Since staking reduces the amount of ETH available to be traded on exchanges, there’s a chance that bullish pressure on Ethereum’s price could intensify.

ETH price forecast: $4k Breakout Imminent?

Ethereum price is currently trending above, $3745 mark at the time of writing on Tuesday. And the $95 million surge in Ethereum 2.0 staking deposits this week suggests that bull are angling for another leg-up above $4,000.

IntoTheBlock’s global in and out of the money data shows that the next major resistance lies at the $3,900 level.

Ethereum ETH Price Forecast
Ethereum ETH Price Forecast

As seen above, 1.83 million investors had acquire 642,430 ETH at the average price of $3,905. Considering that they have been holding at a loss for over 2 months, there’s a chance that many of them could book some profit, and inadvertently slow down the rally.

But if ETH bulls can overturn that resistance sell-wall, a parabolic breakout above $4,000 could be on the cards when the SEC confirms the approval verdict on Ethereum ETFs.

XRP Struggles Near $0.53 On Daily Chart: Will Price Reverse From 0.38% Fib Retracement level

Mark Brennan
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XRP Struggles Near $0.53 On Daily Chart: Will Price Reverse From 0.38% Fib Retracement level

XRP is currently facing resistance around the 0.5350 mark on the daily chart, but there is a possibility of a potential reversal from the 0.38% Fibonacci retracement level.

XRP Price extended its decline on Wednesday and remains pressured below $0.5350 on the daily chart. The price met with resistance towards this level after witnessing the high of $0.5569 in the previous session.

XRP lost ground near the key trading zone that extends from August 2023. At this level, it is very crucial for the bulls to hold this zone, otherwise there is a higher chance of the price falling toward $0.4900 in the short term.

XRP Finds Upside Hurdle Near 0.382% Fibonacci Retracement Level

After witnessing a recovery from the low of $0.4228 reached on April 13, the price bounced back sharply only to enter into a sideways trend. On the daily chart, the price has been moving in a channel, oscillating between $0.4700 and $0.5500 with no directional bias for over a month.

XRP Finds Upside Hurdle Near 0382 Fibonacci Retracement Level
XRP Finds Upside Hurdle Near 0382 Fibonacci Retracement Level

At the current level, XRP price collides with the 0.382% Fibonacci retracement level, which now acts a resistance for the upside.  If XRP breaks below the low of Monday’s candlestick at $0.5066, the bears could strengthen their hold on the prices.

In that case, the downside could be seen at the 0.236% Fibonacci retracement level at $0.4900. At this price level more investors would be encouraged to initiate short positions in the token, which will further see price moving toward $0.4500 level in the short term.

On the flip side, if the bulls managed to cross above the daily high of $0.5264, the price could jump toward the 0.50% Fibonacci retracement level, which stands at $0.5769. However, as with the formation of the red candlestick, the upside scenario looks distant.

The Relative Strength Index (RSI) trades at 51, with no clear trading direction. As with the candlestick formation for the past two sessions, the bias remains bearish for XRP in the short term.

Uniswap Cites Ripple Victory in Response to SEC Wells Notice

Sam Wisdom Raphael
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Uniswap Cites Ripple Victory in Response to SEC Wells Notice

Decentralized exchange Uniswap references the victory secured by Ripple in the SEC case to challenge the agency’s litigation intent.

Uniswap has responded to the SEC’s Wells Notice with a firm stance, citing Ripple’s legal triumph. In July 2023, Ripple secured a partial victory when Judge Analisa Torres ruled that XRP is not a security on its own. This landmark decision has become a beacon for other crypto entities facing regulatory scrutiny.

Uniswap Challenges the SEC’s Oversight

Uniswap’s retort to the SEC’s allegations was that the decentralized finance (DeFi) sector should be nurtured, not stifled by litigation. In a blog post Tuesday, they argue that the Uniswap protocol, which facilitates peer-to-peer transactions without intermediaries, aligns with the SEC’s own mission to protect investors and ensure market integrity.

The crux of Uniswap’s argument is the nature of its protocol – a self-sustaining software that has processed over $2 trillion in trades without a single security breach. This, they claim, is a testament to the protocol’s robustness and its contribution to creating a more efficient and transparent market system.

Uniswap criticized the SEC’s expansive strategy for regulating cryptocurrencies, arguing that the agency’s legal interpretations are excessive and have been rejected by courts in the past. Additionally, they foresee backing from Congress through a proposed bill that would transfer the regulation of digital assets to the Commodity Futures Trading Commission (CFTC).

By month end, the U.S. House of Representatives is expected to vote on the FIT21 Act. This legislation aims to clarify the regulatory framework for crypto assets, designating oversight to either the CFTC or the SEC based on the assets’ decentralization, in an effort to address regulatory ambiguity.

SEC Allegedly Riding on Regulatory Uncertainty 

The SEC has asserted itself as the main regulator of the crypto industry, despite ongoing regulatory uncertainty. In its Wells Notice to Uniswap, the securities regulator classifies the exchange as an unregistered securities exchange and its UNI token as an unregistered security offering.

Uniswap counters this by likening their protocol to general-purpose technologies like TCP/IP and their token to a mere digital file format, not a security. In its reply, the exchange’s legal team cites rulings from the SEC and Ripple case to dismiss the SEC’s claims. 

Notably, while the SEC and Ripple have enjoyed split victories in the case, most of the rulings countered their claims against Ripple. Some firms have cited these rulings, with Terra founder Do Kwon leveraging them in his own battle with the SEC.

The Uniswap team is poised for battle also, bolstered by a track record of victories in high-profile cases against the SEC, with one involving Andrew Ceresney who represented Ripple in the SEC lawsuit. They noted readiness to defend the right to innovate and distribute technology that compels traditional systems to evolve.

This clash is part of the SEC’s broader enforcement efforts against crypto firms, including Binance and Coinbase. Robinhood also received a Wells Notice this month. The SEC is actively pursuing alleged securities law violations to regulate the growing crypto market.

Uniswap Retreats After Testing the High of $9.68; is $10.50 Still Possible?

Mark Brennan
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Uniswap Retreats After Testing the High of $9.68; is $10.50 Still Possible?

Uniswap lost traction and fell nearly 3% on Tuesday. The bearish trendline acts as a resistance hurdle near the high of $9.68. However, the momentum oscillator still holds the bullish bias for the token.

After starting the week on a high note, the Uniswap was not able to defend the gains on Tuesday. The price trades with a negative sentiment below $9.40. 

Generally, the crypto market is trading with a mixed mood. As of writing, Uniswap is exchanging hands at $9.37, down 3.78% for the day. The 24-hour trading volume fell to $295,461,965, per CoinMarketCap.

Uniswap Trades Near the Bearish Trendline

On the daily technical chart, the bulls find it difficult to cross over the bearish trend line that extends from the high of $17.33 made on March 6. After making a strong move on Monday, the prices took a breather, trading in a range bound manner for the past two sessions. However, the price still holds in the upper trajectory. 

Uniswap 1D Chart
Uniswap 1D Chart

Following the moving average crossover involving the 21-day EMA and 55-day EMA on April 12, the bears enjoyed a downturn rally and the price corrected 50% in a sharp movement. Afterward, UNI entered a short-term consolidation between $6.55 and $8.13. On Monday, the bulls harnessed the strength to burst above this level. 

Currently, the token trades near the critical level around $9.40 as this zone previously acted as support zone. Further, a breach of the bearish trend line would strengthen the probability of the upside breakout sustainability. If that happens, the first upside target could be found near the horizontal resistance zone at $11.43, followed by the high of March 31 at $13.33.

The bullish view is supported by the Moving Average Convergence Divergence (MACD) indicator, which trades above the central line with a bullish momentum. Additionally, Uniswap manages to uphold above the two moving averages.

Conversely, a change in the bearish sentiment could result in the more downside in the token. The first support emerges at the 55-day EMA at $8.54. If the selling intensifies in that case the low of the candlestick made on Monday could be tested at $$7.62.

Novogratz Suggests Democrats Could be Warming up to Crypto: Details

Albert Brown
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Novogratz Suggests Democrats Could be Warming up to Crypto: Details

Galaxy Digital founder and CEO Novogratz sees Democrats’ crypto acceptance rising, warning that politicizing crypto could be a major misstep.

Galaxy Digital CEO Mike Novogratz recently shared with CNBC that he believes Democrats are gradually leaning toward accepting crypto. He tells CNBC that he has been trying to make them see reason, expressing that making crypto a political issue could be the most significant error in the last six years.

Novogratz believes there is no reason to treat cryptocurrencies a political issue, seeing it as it is a mere technology. This change, he suggests, could have major implications for the market and its regulatory environment.

Novogratz highlighted a sudden and notable change in attitude among Democrats in Washington, which he believes has completely altered the landscape for Ethereum ETF approval.

According to him, it feels like someone at the Biden White House made a call and said they can’t be the party against crypto anymore. He emphasized the potential impact of this shift, stating that if the SEC’s apparent change of heart is politically motivated, it represents a “seismic shift” that could drive prices significantly higher.

Political Context and Crypto’s Growing Acceptance

Historically, prominent Democrats like Massachusetts Senator Elizabeth Warren have been critical of cryptocurrencies, while Republicans have been more supportive. This divide has become increasingly evident, especially with former President Donald Trump’s campaign recently announcing that it will accept donations in cryptos including Bitcoin (BTC), Shiba Inu (SHIB), and XRP.

In contrast, President Joe Biden has maintained a cautious approach, recently threatening to veto a motion to repeal SAB 121, a contentious crypto accounting rule, despite bipartisan support for its repeal. This stance has added to the perception of a political divide on the issue.

Novogratz noted that this divide had almost become a “purity test,” with Republicans seen as pro-crypto and Democrats as anti-crypto. However, he believes the recent changes indicate that the Democratic leadership is reconsidering its position. He suggested that Senate Majority Leader Chuck Schumer might have urged a more pragmatic approach, telling Warren that continuing to oppose crypto was “becoming dumb.”

Impact on the Ethereum ETF and Market Predictions

The political landscape is particularly relevant as the SEC appears closer to approving a spot Ethereum ETF. Market analysts, including Miles Deutscher, predict significant price surges if the ETF gets the green light. Deutscher anticipates Ethereum could reach $6,446 by July 23, drawing parallels with Bitcoin’s price increase following its ETF approval.

Bitcoin itself has seen a bullish trend, recently peaking at $71,954 on May 21, fueled by speculation about the SEC’s potential approval of an Ethereum ETF. Analysts from Standard Chartered also project that such an approval could result in substantial inflows into Ethereum, ranging from $15 billion to $45 billion in the first year, potentially driving ETH prices to $8,000 by the end of 2024.

Shiba Inu Breaks 11-Week Resistance, Targets $0.000081

Mark Brennan
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Shiba Inu Breaks 11-Week Resistance, Targets $0.000081

Shiba Inu surpasses 11-week resistance, climbing 10.52% as it aims for $0.000081 amid growing bullish momentum.

The SHIB/USD pair has shown a notable change in its trading pattern, breaking through a persistent resistance level that had capped its price growth for several weeks. This development marks a key momentum shift for the cryptocurrency, as it now sets sights on potentially higher targets.

SHIB Breakouts at $0.00002638

After a prolonged period of stagnant price movements, Shiba Inu has finally overcome an 11-week resistance level that was firmly established in early March. According to data highlighted by market researcher Jake Wujastyk on X, the SHIB/USD trading pair began to climb, peaking at $0.00004500 the same month.

Shiba Inu 1W Chart | Jake Wujastyk

Following this peak, there was a period of decline, with the cryptocurrency not showing significant upward movement until mid-May 2024. Subsequently, the recent breakout trend last week is particularly noteworthy, as the weekly chart shows a 10.52% increase from the previous week, indicating strong bullish sentiment in the market.

This rise followed a period during which Shiba Inu’s value was repeatedly suppressed by a resistance trendline. This trendline, which connected the peak prices over several months, had acted as a stubborn barrier preventing any crucial upward movement.

Shiba Inu to $0.000081

Looking ahead, financial analysts are optimistic about Shiba Inu’s potential for further gains. In a related report from The Crypto Basic, analyst Javon Marks projected that a breakout in SHIB could lead to a 210% increase.

This surge would push its value to $0.000081, just shy of its all-time high (ATH) of $0.00008845. Marks also suggested that if SHIB exceeds this level, it could potentially rise to $0.0001553, marking an over 500% increase from its current price.

As of press time, Shiba Inu is trading at $0.00002595. This represents a 2.17% increase from the day before, accompanied by a substantial 34.37% increase in trading volume, which now stands at $1,217,382,364.

Solana Consolidates Gains Near $180, Where a Sideways Move Is Expected to Break Out

Mark Brennan
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Solana Consolidates Gains Near $180, Where a Sideways Move Is Expected to Break Out

Solana (SOL) trades with modest gains on Tuesday while nursing the previous day’s loss. The prices lose momentum following the news Solana wallet Phantom acquires a 16z-backed Bitski wallet platform. The momentum oscillator trades above 60 indicate the continuation of the upside momentum after the pullback.

Solana trades in a range-bound manner on Tuesday with a mild bullish bias. However, the formation of a spinning candle suggests a lack of buying interest among traders. As a result is imperative to look for valid buying signals or opportunities before initiating a long position.

As of press time, the SOL/USD pair trades at $180.23 with 1.14% gains. According to data sourced by CoinMarketCap, Solana’s market cap dropped 1% to $80.54 billion following a dip in the price.

Solana’s Technical Insights Point to a Consolidation Ahead with a Bullish Bias.

Solana SOL 11111211111
Source: Tradingview

On the technical front, SOL is in a short-term upside trend after testing the swing low of $118.89 on May 1, 2024. Since then, the price rallied nearly 58% to date. The recent price action suggests a sideways momentum after hitting the high of $188.79 on Wednesday. The Bulls need a breather before they can continue the upside momentum.

The formation of the ascending triangle, which is a neutral pattern, suggests the tug-of-war between bulls and bears. Further, the formation of a small candle following a red candle the previous day pauses the fall in the price in today’s session.

Now, if the bulls can sustain above today’s low of $175.12, there is hope for the price to shoot up toward $180.00 or above. On the downside, Solana could fall toward the low of $167.81 made on the first day of the week.

After making a low of $78.87 in January 2024, the SOL price is in a bullish trend. The momentum intensified above the 21-day Exponential Moving Average (EMA). The rally halted, and the price corrected to $118.89 following a negative divergence in the relative strength index (RSI), which is a momentum oscillator. The price took support near the ascending triangle lower trend line and zoomed at $188.79.

The RSI still trades above 63, far from the overbought zone, suggesting the probability of an upside breakout in the triangle. In that case, the upside target could be the high of March 18 at $210.03. On the contrary, if the price drops, immediate support could be provided at the 21-day EMA.

Ripple Files Trademark for RLUSD Stablecoin Instead of “USDR” or “USDX”

Abdulkarim Abdulwahab
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Ripple Files Trademark for RLUSD Stablecoin Instead of “USDR” or “USDX”

Ripple has filed a new trademark for the phrase “RLUSD,” suggesting the likely listing symbol for its proposed dollar-based stablecoin.

The application for the RLUSD trademark was lodged with Justia, a U.S. legal database, on May 7. Although Ripple has not made a formal announcement, crypto community members speculate that this move is related to the stablecoin it intends to introduce in 2024.

Meanwhile, the trademark application confirms the speculation that RLUSD is likely the ticker symbol for Ripple’s forthcoming stablecoin. It outlines RLUSD’s use in electronic financial services, specifically for monetary transactions involving receiving and distributing payments in virtual currency.

This includes digital tokens pegged to a fiat currency, all conducted over a computer network—essentially stablecoin.

Ripple Stablecoin Trademark filing
Ripple RLUSD Stablecoin Trademark filing

Community Says “RLUSD” is a Terrible Choice

As of the latest update, Ripple has not yet been granted the RLUSD trademark. However, the selection of the term “RLUSD” has sparked diverse opinions among community members.

Some have criticized the choice as “terrible,” suggesting that alternatives like USDX or USDR would have been superior. Moreover, critics argued that USDX and USDR would potentially be more appealing to retail consumers than RLUSD.

Reasons Ripple Cannot Use USDX or USDR

Notably, the anticipation for the name “USDR” is traceable to the initial “R” from Ripple’s name. On the other hand, the expectation for “USDX” arises from Ripple’s plan to launch the stablecoin on the XRP Ledger.

However, the Flare Networks team has recently unveiled “USDX” as the inaugural native stablecoin on their blockchain, backed 1:1 with USD and secured by Hex Trust, a premier institutional custodian for digital assets. 

Emphatically, this development suggests that the USDX designation is not an option for Ripple’s stablecoin initiative.

Likewise, “USDR” is already in use by Real USD, making it unavailable for Ripple’s use. With both USDX and USDR taken, this situation likely influenced Ripple’s decision to settle on RLUSD for its stablecoin project.

Significantly, Ripple announced its pivot towards stablecoin early in April to capture a substantial portion of the market. Notably, the market is projected to reach a valuation close to $3 trillion in the coming years  — currently $161 billion. The trademark application corresponds with the behind-the-scenes endeavors to ensure the stablecoin’s successful debut later this year.

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