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Standard Chartered Still Keen on Bitcoin to $200K By Year End, Predicts $135k by End of Q3

Elendu Benedict
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Standard Chartered Still Keen on Bitcoin to $200K By Year End, Predicts $135k by End of Q3

Standard Chartered has reaffirmed its bullish price expectation for Bitcoin by the end of 2025, projecting a new target for the year’s third quarter.

The firm released a fresh outlook for Bitcoin for the second half of the year, following a lower-than-expected 14.67% uptick in the first six months of 2025. Geoffrey Kendrick, the $1.1 trillion bank’s head of digital asset research, projected a stellar end to the year and highlighted possible catalysts for this run.

Bitcoin Up for a Bullish H2

Bitcoin broke a new all-time high of $112,000 in May but missed Standard Chartered’s $120,000 target by the end of Q2. Nonetheless, it remains keen on a surge to new price discoveries for the premier asset.

Kendrick told clients on Wednesday that Bitcoin would hit $135,000 by the end of the year’s third quarter, a 25% uptick from its current price. He mentioned that the exchange-traded funds (ETFs) inflow and Bitcoin accumulation by corporate treasury firms would drive this rally.

Data shows that ETFs bought 118,424 BTC in H1, while public firms purchased over two times that number, amassing 245,510 BTC. Kendrick insisted that these numbers would continue to rise in Q3 and Q4, taking Bitcoin’s price with it.

Furthermore, the analysis suggested that policy shifts in the United States would also drive the expected uptrend. Rumors are circulating that Donald Trump wants to remove Federal Reserve Chair Jerome Powell, and Standard Chartered believes that his early retirement, along with the subsequent quantitative easing, would increase the appetite for risk assets, favoring Bitcoin.

Moreover, other policies, such as the House’s passage of the GENIUS stablecoin bill, are also a strong catalyst. The legislation has already received a nod from the US Senate and would become law pending approval from the House and the president.

Bitcoin’s Four-Year Cycle Defiance and $200k by Year End

For context, Bitcoin has had four years in a cycle, comprising a year of massive correction and three years of recovery and uptrend to new highs. Kendrick argued that BTC has outgrown this adolescent structure and would continue rising after the 18-month bullish phase expected to end between September and October.

He highlighted the end of this market dynamic amid near-mainstream adoption and expects the market to brush off these cycle concerns with a late-year price upsurge. Essentially, the analyst predicted a price rise to $200,000 before the end of the year.

Interestingly, this narrative is gaining momentum, with backing from industry leaders. Binance’s CZ and Michael Saylor expect the same, and the latter stated in clear words that the Bitcoin bear market is over.

Meanwhile, brokerage firm Bernstein and asset manager Bitwise also projected that Bitcoin would reach $200,000 before the end of 2025. At the time of writing, BTC trades at $107,835, about 85.4% away from reaching the $200,000 target.

Something Big Is Coming That XRP Holders Will Love, Top Investor Says

Abdulkarim Abdulwahab
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Something Big Is Coming That XRP Holders Will Love, Top Investor Says

Crypto investor and author Paul Barron recently sparked excitement within the XRP community by teasing upcoming developments that could be game-changing for XRP holders.

The post quickly gained traction, with many speculating about what it could mean. Some are even requesting a specific timeline for the reveal, whether it will be a matter of days or weeks.

While the XRP community is already anticipating several announcements in the coming days, the timing of Barron’s post adds fuel to the fire.

Path Opens Toward XRP ETF Green Light

Notably, this comes just as the U.S. SEC has endorsed the conversion of Grayscale’s Digital Large Cap Fund (GDLC), which holds XRP, into a spot ETF.

This development strengthens the case for standalone XRP spot ETFs in the U.S., as previous XRP-linked products were limited to futures. With XRP now in a spot ETF accessible to institutional investors, pressure is mounting on the SEC to approve dedicated XRP ETFs.

Currently, about ten applications are under review, including proposals from Grayscale and Franklin Templeton. Observers believe the approval of standalone XRP ETFs is becoming increasingly likely, perhaps even inevitable, by the October 2025 deadline.

Although this product still has up to a three-month timeline before launch, other XRP developments may emerge within just weeks.

Lawsuit Chapter Seals for Good

Late last month, Ripple announced its decision to discontinue its appeal in the long-standing SEC case, choosing instead to focus on “more important” initiatives. The announcement followed the company’s failure to modify Judge Torres’ final judgment, which was issued in August 2024. 

Ripple has now chosen to move forward and close the lawsuit chapter for good. In parallel, the XRP Army is eagerly awaiting Ripple’s formal withdrawal and the official closing of the case. 

Anticipation is high, as many believe that once the legal overhang is over, new partnerships and initiatives, previously delayed by the case, could soon be unveiled.

Will a BlackRock XRP ETF Follow?

Among the most anticipated developments is a possible XRP ETF from BlackRock. XRP proponents argue that the world’s leading asset manager may be holding off on launching such a product until regulatory uncertainty fully clears. 

Some analysts have even said a BlackRock XRP ETF application is inevitable, both from a competitive standpoint and due to the strong interest in XRP from Wall Street.

Big Companies Are Buying XRP

This interest is becoming increasingly visible, with a rising number of companies disclosing plans to hold XRP as part of their reserves. To date, nine firms across sectors such as tech, energy, pharma, and cannabis have announced dedicated XRP treasury programs.

Collectively, these companies are committing nearly $1 billion to acquire and utilize XRP as a corporate reserve asset and financial tool. Notable examples include:

  • Trident Digital Tech Holdings – $500 million
  • Webus – $300 million
  • VivoPower – $100 million
  • Wellgistics Health – $50 million

Another Leveraged XRP ETF Launching in Two Weeks

Another pro-XRP event on the horizon is the upcoming launch of leveraged crypto ETFs by Tuttle Capital Management, set for July 16. These ETFs will target assets like XRP, Solana, and BNB.

Under current SEC rules, the filing is automatically approved unless the agency raises objections. Firms such as Teucrium and Volatility Shares have previously taken similar routes to launch XRP futures ETFs.

Here’s How Shiba Inu Address Profitability Has Changed Over the Past Year as Price Holds Above $0.000011

Sam Wisdom Raphael
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Here’s How Shiba Inu Address Profitability Has Changed Over the Past Year as Price Holds Above $0.000011

Shiba Inu address profitability has dwindled over the past year as SHIB witnesses price struggles amid broader market uncertainty.

Notably, Shiba Inu has continued to observe losses over the past few months. Specifically, after SHIB soared to a local top of $0.00003343 last December on the back of the Trump-led upsurge, it faced a roadblock at this price peak and has since continued to face challenges.

Shiba Inu Faces Price Struggles

Despite these struggles, Shiba Inu has continued to hold above the pivotal $0.000010 psychological level, currently maintaining a position above $0.000011. However, this resilience has not been enough to keep investors in a profitable position.

In particular, data from IntoTheBlock shows that Shiba Inu’s address profitability has collapsed over the past year. For context, on July 2, 2024, exactly a year ago, Shiba Inu traded around the $0.000017 price level amid a consistent price crash from the $0.00004 highs in March 2024.

Nonetheless, despite this downturn, on that day, there were about 695,250 addresses seeing a profit on their Shiba Inu balance. This figure represented 51.87% of the total Shiba Inu addresses with a balance. Meanwhile, 631,990 addresses, representing 47.15%, were nursing losses; while 13,240 addresses, about 0.99% of the total, held at breakeven.

Over 966K Shiba Inu Addresses Now at Loss

This metric improved dramatically in December 2024 but has since regressed over the past few months. Currently, around 966,780 addresses are witnessing losses on their Shiba Inu investments. This number, which has increased by 26,000 in the last week, marks 66.66% of total non-zero addresses.

Shiba Inu Address Profitability IntoTheBlock
Shiba Inu Address Profitability | IntoTheBlock

However, addresses seeing gains have dropped to 435,980, representing just 30.06% of the total. Meanwhile, those at breakeven have increased to 47,640, a 3.28% share of the total addresses with balances.

Despite the drop in this metric, further data scrutiny shows that the Shiba Inu market has continued to welcome new investors within the period in question. Specifically, a year ago, SHIB had 1.34 million non-zero addresses. Now, this figure has increased to 1.45 million, indicating an increase of 110,000 addresses since July 2024.

This rise in non-zero addresses amid the price struggles indicates the growing confidence in Shiba Inu’s resurgence. Last month, NBA legend Scottie Pippen highlighted several crypto assets he believes will perform well in the ongoing bull run, with his list also featuring Shiba Inu. 

In addition, pseudonymous analyst “Pepe is Friend” claims investors who procure Shiba Inu at the current position will not regret their decision. At the current price of $0.000011388, Shiba Inu is trading at the higher end of a falling wedge. A rally above $0.000014 could trigger the necessary breakout, potentially leading to more upside.

Shiba Inu Falling Wedge Pattern
Shiba Inu Falling Wedge Pattern

Analyst Says Bitcoin Will Go to $250,000 Quickly and Violently, Here’s Why

Mark Brennan
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Analyst Says Bitcoin Will Go to $250,000 Quickly and Violently, Here’s Why

Greg O’Gallagher predicts Bitcoin will surge to higher levels quickly and violently, citing historical trends, institutional demand, and fiscal policies driving growth.

Bitcoin’s price is currently hovering around $107,654, reflecting a 0.62% increase in the past 24 hours and a 0.88% rise over the past week.

Amid the price stability, Greg O’Gallagher, a Canadian social media personality, has recently weighed in on Bitcoin’s potential trajectory, claiming that Bitcoin now heads toward $250,000. 

He emphasizes that this isn’t mere speculation but rather a continuation of historical trends, explaining why this cycle is different and happening faster than anyone anticipates. According to O’Gallagher, also known as Kinobody, those who remain on the sidelines could miss out on a once-in-a-lifetime opportunity.

Bitcoin’s Historical Price Surge After Halvings

O’Gallagher refers to Bitcoin’s previous halving events to support his claims. Historically, after each halving, Bitcoin has seen massive price increases over the next 1.5 years. 

For instance, after the 2012 halving, the price of Bitcoin increased by 93.1 times, moving from around $10 to over $1,000.

Image

Similarly, following the 2016 halving, Bitcoin surged by 30.1 times, reaching nearly $20,000 from the $600 level. The 2020 halving saw a 7.8x increase, pushing Bitcoin’s price from approximately $5,000 to a high of $67,000 in late 2021.

For this cycle, Bitcoin already surged 2.3x in just 477 days in its pre-halving cycle. From the April 2024 halving, O’Gallagher expects a 4.2x surge in approximately 480 days, which would raise the price by around $147,853, taking it well above $250,000. 

He notes that even a simple 2.5x to 3x increase could place Bitcoin in the $250,000 to $320,000 range. Notably, Bitcoin would need to increase by 132% to go from the current $107,654 to $250,000.

Why This Cycle Is Different

O’Gallagher points out several unique factors contributing to the rapid acceleration of Bitcoin’s price. One major difference is the increased accessibility and institutional involvement. ETFs are now live, allowing institutions to purchase Bitcoin effortlessly.

Already, more than $150 billion has flowed into Bitcoin ETFs, with buying pressure expected to continue ramping up. Additionally, massive treasuries are restructuring their balance sheets by raising billions through debt offerings and using the funds to buy more Bitcoin.

Another crucial factor is the significant rise in interest rates since 2020, which O’Gallagher describes as a 22x increase. He predicts that when rates eventually start to decline, the effect on Bitcoin could be immense. According to him, this could inject a massive boost into Bitcoin’s value.

Meanwhile, retail investors have yet to engage in the market at the same level as they did in 2021. Despite Bitcoin’s price of $106,000, Google search interest is still only at 33% of the levels seen in 2021. O’Gallagher believes that once Bitcoin surpasses the $140,000 mark, retail interest will intensify, sending the price skyrocketing.

Bitcoin Interest Google Trends
Bitcoin Interest | Google Trends

Fiscal Policy and Bitcoin’s Role

Finally, O’Gallagher addresses the ongoing fiscal situation. With trillions of dollars in new government spending and massive debt issuance, he believes Bitcoin’s role as a hedge against fiat currency dilution has never been more relevant. The continuous rise in government spending acts as a powerful advertisement for Bitcoin, especially as fiscal policies remain expansionary.

The key takeaway from O’Gallagher’s analysis is that Bitcoin’s demand is rapidly growing, while its supply is fixed at 21 million coins. As a result, O’Gallagher encourages people to take the time to educate themselves and research the situation. He argues that this could be one of the greatest financial opportunities to secure one’s future, urging people to act quickly before it’s too late.

O’Gallagher also shared that he began purchasing Bitcoin in the fall of 2023 when the price was between $25,000 and $30,000. He expressed that while he wished he had started earlier, he is committed to continuing to accumulate Bitcoin.

Public Companies Bought Over Two Times More Bitcoin Than ETFs in H1 2025

Elendu Benedict
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Public Companies Bought Over Two Times More Bitcoin Than ETFs in H1 2025

Public companies took the lead off Bitcoin spot ETF issuers, stacking more than twice as many BTC as the funds did in the first half of the year.

The Bitcoin spot exchange-traded funds had better inflows in the first half of the year, rebounding from the lackluster performance toward the close of 2024. Yet Bitcoin-buying corporate firms trounced their cumulative stash by over twofold.

Red-Hot Corporate Firms Scooping Bitcoin’s Supply

For context, public firms purchased 245,510 BTC in the first half of the year, representing a 375% increase from the 51,653 BTC they acquired in the same period year-over-year. Meanwhile, Bitcoin spot ETF issuers bought 118,424 BTC in H1, over two times less than the amount purchased by corporate firms.

While ETFs’ Bitcoin accrual in the first half of this year falls 56% below the 267,878 BTC the funds bought in H1 2024, it does not undermine the increased corporate interest in Bitcoin. The over twofold increase in purchases compared to issuers signals their willingness to compete for a considerable share of BTC’s limited supply.

Meanwhile, this upsurge is in tandem with the growing number of Bitcoin-holding corporate firms. Data from BitcoinTreasuries shows that there are currently 254 entities holding BTC, of which 141 are public companies.

Entities Holding Bitcoin
Entities Holding Bitcoin

Past data shows that there were only 67 firms with Bitcoin on their balance sheet at the start of the year and 79 companies by the end of the first quarter. This indicates a 141% and 78% increase in the past six and three months, respectively.

New Participants Trim Strategy’s Share

Previously, Strategy (formerly MicroStrategy) accounted for a large number of bitcoins acquired by public firms. The current data highlights a changing tide as new participants step up to compete for who holds more.

In the first half of 2024, Strategy’s 37,190 BTC acquisition accounted for a staggering 72% of all corporate firm purchases. However, while the Michael Saylor-chaired business intelligence company purchased 135,600 BTC in H1, its contribution has dropped to 55% despite increasing its purchase figures.

This share trim follows the entrance of new heavyweights like Metaplanet, GameStop, and ProCap, who have acquired billions worth of Bitcoin. Remarkably, Saylor does not view this emergence as a competition but rather as a complement to the greater good of the Bitcoin ecosystem.

Moreover, market observers believe that these increased purchases, alongside the resurgence of Bitcoin spot ETFs, could trigger a supply shock. Lightspark CEO David Marcus asserted that things are going to get wild for Bitcoin from here, citing increased institutional adoption, dwindling supply due to halving events, and the limited amount of BTC left to be mined.

Tom Lee Explains Why Bitcoin Price Is Not Moving Despite Institutional Demand

Elendu Benedict
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Tom Lee Explains Why Bitcoin Price Is Not Moving Despite Institutional Demand

Fundstrat’s CIO, Tom Lee, has given his expert opinion on the recent Bitcoin price stagnation despite growing institutional demand.

Lee, who was recently appointed the chairman of BitMine, shared his thoughts on CNBC’s ETF Edge on Tuesday after a slow start to the month for Bitcoin. The pioneering cryptocurrency dropped to $105,159 on Tuesday, sparking a broader market shake-off, but has reclaimed $107,000 at the time of writing.

Why Bitcoin Price Has Stagnated

The Fundstrat CIO highlighted that the US Bitcoin spot exchange-traded funds (ETFs) have been one of the most successful ETF launches in history. The investment vehicles have collectively attracted $48.6 billion since their launch, as demand for Bitcoin exposure reaches unprecedented levels.

Meanwhile, aside from the $342 million net outflow on July 1, the Bitcoin spot ETFs had been on a 15-day inflow streak, with their last outflow before yesterday occurring on June 6. These inflows have resulted in the products accumulating a net asset of $131 billion, which is approximately 6% of Bitcoin’s market capitalization.

Yet, Bitcoin has not mooned from the inflows as many expect. Lee noted that one of the reasons behind this price stagnation could be how these ETFs receive their inflows.

Specifically, he noted that some of them may have been receiving an in-kind exchange from customers who already own Bitcoin. This type of transaction involves moving Bitcoin from cold wallets to the asset manager’s wallet and does not require active purchasing.

Lee called such transactions a “wash,” insisting it would not move Bitcoin’s price. Notably, Bitcoin’s price follows a simple demand-supply mechanism, and such transfers do not bring new demand pressure. As a result, the price continues to range.

Selling Retailers Neutralizing Institutional Demand

Furthermore, the long-standing Bitcoin proponent blamed the price stagnation on Bitcoin OGs who are sitting on massive profits. He highlighted that early retailers who acquired the crypto leader at significantly lower prices than its current level could be taking profit.

“They don’t care if Bitcoin goes to a million; they are probably sellers at around a hundred thousand,” Lee said.

As a result, this selling pressure has countered the demands from institutions, slowing down Bitcoin’s price. Interestingly, Bitwise CEO Hunter Horsley shared a similar sentiment earlier, highlighting Bitcoin’s trend around $100,000 as a possible reason for this bearish sentiment.

Horsley noted that these profit-taking individuals would reconsider their selling disposition when Bitcoin rallies higher, probably to between $130,000 and $150,000. At that price, he suggested that no one would sell their Bitcoin.

Meanwhile, Bitcoin continues to hover around its current all-time high, specifically trading at $107,420. Earlier analysis suggests that this emerging mainstream demand for BTC could drive prices to $200,000 before the end of 2025 and $1 million by the end of this cycle.

Shiba Inu Team Fires Back at ‘Manipulative’ Exchanges for Delisting Tokens

Lele Jima
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Shiba Inu Team Fires Back at ‘Manipulative’ Exchanges for Delisting Tokens

Shiba Inu marketing specialist, Lucie, addresses the FUD surrounding the delisting of Bone ShibaSwap (BONE) from two centralized exchanges. 

The Shiba Inu community received disappointing news earlier this week after OKX and ONUS announced plans to delist BONE. While OKX suspended BONE deposits on June 30, ONUS halted BONE purchases and swaps on July 1.

As expected, the delisting of BONE from two centralized exchanges sparked concerns among holders, who saw the value of their BONE holdings plummet massively.

Allegations of Manipulative Delisting

Notably, Shiba Inu’s marketing lead took to X to address growing concerns about BONE’s delisting. She described the centralized exchanges as “manipulative.”

According to her, the delisting has nothing to do with BONE’s performance. She asserted that BONE isn’t even among the tokens with the lowest trading volumes on either platform. Lucie emphasized that she would not “chase” exchanges to support Shiba Inu ecosystem tokens.

Lucie Slams Centralized Exchanges

She also expressed her belief in decentralized finance (DeFi), noting that the Shiba Inu team has been focused on building within the DeFi space, one that doesn’t require invasive identity checks, including KYC or even, as she sarcastically remarked, “blood samples.”.

Despite the delisting, Lucie emphasized that the team is not backing down and will focus on building out the ecosystem. She further took a swipe at centralized exchanges, claiming they usually list tokens that offer ‘big money.”

According to her, this practice enables them to continue promoting low-effort projects that often disappear within a short time.

Lucie also pointed to the failures of once-prominent centralized exchanges like WazirX, FTX, and Hotbit. Although they appeared solid at first, they were eventually exposed or exploited, serving as cautionary examples against overreliance on centralized platforms.

A Familiar Pattern

Furthermore, Lucie noted that other major assets, including SHIB and XRP, have faced similar challenges. In particular, she recalled how several U.S.-based exchanges delisted XRP after the SEC filed a lawsuit against Ripple.

However, these exchanges have since relisted XRP after a federal court ruled that its secondary market sales do not violate federal securities laws.

Currently, BONE is down 18.95% over the past seven days, following its delisting from ONUS and OKX. However, it has recovered some of its losses in the past day, with its price soaring 9.5% to $0.1941.

Meanwhile, BONE remains available for trading on other centralized exchanges, such as Gate.io and HTX, which have seen over $2 million in volume in the past 24 hours.

Here Is the Timeline to Buy Bitcoin Below $120,000: Analyst

Mark Brennan
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Here Is the Timeline to Buy Bitcoin Below $120,000: Analyst

An analyst on X has identified the timeline to buy Bitcoin below a key level amid growth potential.

Bitcoin’s price has been fluctuating between $105,000 and $109,000 over the past week. Currently trading for $106,952, Bitcoin is showing signs of a bullish trend despite experiencing significant price swings. 

As the crypto market remains volatile, Leo Heart, author of Bitcoin Rainbow Wave, has presented new insights into Bitcoin’s potential price trajectory.

Logarithmic Regression and Bitcoin’s Growth

Heart’s analysis relies on a rainbow logarithmic regression model, which is designed to highlight Bitcoin’s exponential price movements over time. This model tracks Bitcoin’s price fluctuations following each halving event, which occurs approximately every four years. Historically, Bitcoin’s price has seen significant increases post halving. 

Image

For instance, after the 2012 halving, Bitcoin’s price jumped from around $14 to more than $1,000. Similarly, after the 2016 halving, it surged from $600 to nearly $20,000 by the end of 2017. The halving in 2020 saw Bitcoin reaching over $67,000 by late 2021.

Projected Bitcoin Price Ranges

Meanwhile, the current period following the 2024 halving (H4) shows that Bitcoin is moving toward higher price levels.

The chart also includes colored regression bands, which represent different price zones. These bands reflect Bitcoin’s price movement within certain ranges, with the lower bands typically representing undervalued periods and the upper bands representing overvalued periods.

Bitcoin has historically moved between these bands, often reverting to the mean, making these bands useful in predicting future price behavior. 

According to the projection, by 2029, Bitcoin’s price will likely range between $122,372 and $509,090, marking a significant increase from its current levels. Notably, Bitcoin would need to surge by approximately 14.4% from the current price of $106,952 to reach $122,372.

The analyst also notes that it will only be possible to buy Bitcoin below $120,000 until the end of 2028 and never after. This means before then, Bitcoin’s price is still likely to be within the lower part of the regression band, and could later surge to historical post-halving ranges. 

When asked about Bitcoin’s price until the end of 2027, Leo Heart stated that the current price levels could persist until the fall of 2028. Regarding the end of 2025, he predicts Bitcoin’s price to range between $137,000 and $165,000.

Analyst Expectations for Bitcoin’s Price in 2025

Alongside Heart’s long-term projections, crypto asset manager Bitwise remains optimistic about Bitcoin’s near-term prospects. On June 30, Bitwise executives Ryan Rasmussen and Matt Hougan and reaffirmed their projection that Bitcoin will reach $200,000 in the next six months. 

They attribute this optimism to rising institutional demand for Bitcoin, recent progress in U.S. crypto legislation, and growing interest in stablecoins. These factors are expected to drive significant price action, according to Bitwise’s analysts.

Shiba Inu Team Calls Out Vitalik Buterin for Ignoring Billions in SHIB Funding to Crypto Relief

Lele Jima
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Shiba Inu Team Calls Out Vitalik Buterin for Ignoring Billions in SHIB Funding to Crypto Relief

The Shiba Inu team recently reminded Ethereum co-founder Vitalik Buterin that SHIB funds were instrumental in supporting the Crypto Relief charitable organization.

This comes after Buterin thanked Binance co-founder Changpeng Zhao (CZ) for donating $10 million worth of BNB in support of his biotech project. In a tweet, the Ethereum founder noted that CZ’s financial donation will help protect humanity from airborne disease.

In a follow-up message, Buterin also expressed gratitude to Polygon’s CEO, Sandeep Nailwal, and the charitable organization Crypto Relief (now Blockchain for Impact). He thanked them for funding biomedical infrastructure in India and returning surplus funds to Balvi for global research and development.

However, Buterin’s appreciation post notably ignored the contributions of Shiba Inu to the charitable effort. In response, members of the SHIB community called out the omission.

Team Points Out SHIB Omission in Buterin’s Appreciation Post

Notably, Kaal Dhairya, a top developer of the Shiba Inu ecosystem, pointed out that Buterin failed to acknowledge the billions of SHIB tokens that were initially used to fund Crypto Relief in its early stages.

To recap, Nailwal launched the Crypto Relief Fund in April 2021 during the second wave of the COVID-19 pandemic in India. Shortly after its creation, Buterin donated 50.6 trillion SHIB, then valued at approximately $1.2 billion, to the nonprofit.

The Ethereum co-founder made the donation using a portion of the 500 trillion SHIB tokens he received from Shiba Inu’s pseudonymous founder Ryoshi.

Of the 500 trillion SHIB tokens, Buterin sent over 410 trillion of these tokens to a dead address, permanently removing them from circulation. He subsequently sent the remaining tokens to other nonprofits, with Crypto Relief receiving 50.6 trillion SHIB (worth about $1.2 billion at the time).

Shiba Inu Craving Buterin’s Recognition

Since Buterin’s initial SHIB donation contributed to Crypto Relief’s support for India’s biomedical infrastructure and Balvi’s global R&D efforts, Dhairya believes the Ethereum co-founder owes Shiba Inu a proper acknowledgment.

Additionally, Dhairya’s messages reminded the Shiba Inu community that SHIB played a part in Crypto Relief’s donations. It also positions Shiba Inu as a token that provides financial support for real-world causes, including charitable contributions.

Since last year, the Shiba Inu ecosystem team has been trying to gain Buterin’s attention following his statement that rival Dogecoin deserves to be the second-largest cryptocurrency by market cap.

This claim did not sit well with the Shiba Inu community. Many believe SHIB deserves recognition from Buterin, given its contributions to the Ethereum ecosystem. Notably, Kusama requested a 10-minute conversation with Buterin to discuss SHIB’s potential and why it should be recognized as a top digital asset.

Despite efforts by the SHIB community to draw Buterin’s attention to Kusama’s proposal, the Ethereum co-founder has yet to respond.

500M XRP Unlocked as Ripple Sends 400M XRP to Escrow

Elendu Benedict
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500M XRP Unlocked as Ripple Sends 400M XRP to Escrow

Ripple has carried out its monthly XRP escrow rebalancing, moving a substantial amount of XRP to escrow amid the July escrow unlock.

Ripple carried out the rebalancing over multiple transactions on July 1, transferring substantial amounts of XRP across several wallets before moving them to escrow. Before then, the escrow account had released 500M XRP ($1.08 million) to a Ripple account.

500M XRP Unlocked from Ripple Address

Whale Alert shared this transaction in a Tuesday tweet, which saw a Ripple account receive 500 million XRP from the escrow account. Specifically, the Ripple (27) wallet received the tokens.

Whale Alert on X
Whale Alert on X

Notably, the number falls short of the typical 1 billion XRP typically unlocked from the Ripple escrow account monthly. While there have not been any other escrow unlocks at the time of writing, there could still be further releases during the course of the month.

Meanwhile, the Ripple (27) address did not hold on to the released tokens, as it distributed them quickly to two separate Ripple accounts. First, it shifted 200 million XRP ($434 million) to “rN8pqR” at 23:58 (UTC) yesterday.

A few minutes later, the sending account moved another 300 million XRP ($651 million) to the receiving address “rKwJaG.” Meanwhile, the Ripple (27) address still held 500 million XRP after the transactions.

Ripple Relocks 400M XRP to Escrow

Shortly after the unlocks, Ripple resumed its monthly rebalancing. In particular, the firm locked 400 million XRP ($869 million) with its Ripple (15) address.

However, before locking the 400 million XRP, the address received the tokens from two different wallets. Specifically, wallet “rGKHDy” sent 200 million XRP by 23:55 UTC yesterday before “rHGfmg” sent another 200 million three minutes later to the Ripple (15) address.

XRP’s Price Inconsistency

Meanwhile, the transactions follow XRP’s price inconsistency, following a broader market trend. After breaking to a high of $2.32 on June 30, XRP slumped to $2.15 yesterday following Bitcoin’s retest of the $105,000.

At the time of writing, XRP has recovered slightly from yesterday’s lows, trading at $2.18 at the time of writing. Interestingly, a recent analysis has identified that XRP would reach a minimum price target of $6.5 this month and could potentially extend to $8.

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