Home Blog Page 720

Donald Trump Hosts 220 Top TRUMP Meme Holders but Not Without Controversy: Here’s What You Need to Know

0

The Trump member-only dinner and subsequent White House tour were action-packed, drawing intense scrutiny and a possible federal law violation.

The long-anticipated gala dinner between Donald Trump and about 220 top holders of the official Trump meme coin took place on Thursday at the Trump National Golf Club in Washington, D.C., and attracted some of the top dogs in the crypto space.

Some Big Names in Attendance

Attendees of the meet-and-greet dinner in the Virginia golf club spent a combined $148 million on acquiring the TRUMP token to qualify for the event. Meanwhile, the US president flew in from the White House on a military helicopter for the dinner and addressed the crowd briefly before exiting again.

Interestingly, the black-tie gala dinner attracted prominent figures, including industry CEOs, crypto influencers, and a former NBA star. They heard Trump discuss cryptocurrency and his administration’s plans to right the wrongs done by his predecessors in the sector.

Justin Sun, the founder of the Tron network and advisor to the World Liberty Financial, was in attendance. He ranked top of the list, with his over $18 million TRUMP bag proving insurmountable by others in attendance.

Further, Elliot Berke, a top Washington lawyer who won the Republican Lawyer of the Year in 2021, also attended the gala. Wintermute’s founder, Evgeny Gaevoy, and former NBA star Lamar Odom were also among the big names who participated in the gala event.

Protests and Criticism Trail Event

Meanwhile, protesters gathered in their numbers outside the Trump National Golf Club and vented their anger at Trump’s cryptocurrency meddling despite holding a sensitive political position. Senator Jeff Merkley from Oregon also joined the agitators with banners like “100% Pure Corruption,” “Crypto Corruption,” and “Trump is a traitor” flying around.

Trump’s move also drew widespread criticism on social and legal media. Even a Republican congressman, Rep. French Hill, expressed displeasure in the meeting, stressing that Trump’s dinner belittles efforts to galvanize bipartisan support for crypto bills like the GENIUS Act.

Nonetheless, the White House has denied speculations that the US president was using his position for personal interest. Press secretary Karoline Leavitt stressed that Trump attended the meeting unofficially and declined requests to release the 220 attendees’ list.

Possible Break of Federal Law

Meanwhile, a Forbes report suggested that Trump may have broken federal law during his dinner meeting with top TRUMP holders who registered for the event. It mentioned the pro-crypto president’s speech on a podium with a presidential seal as a possible transgression.

The legal concern, addressed in 18 US Code 713, stresses that Trump’s use of the presidential seal suggests federal endorsement or approval. If found guilty, the involved parties face a fine or up to six months in prison.

TRUMP Token Reacts

The TRUMP token has been at the center of this drama. The meme coin, launched in January, reacted adversely to the negative narrative surrounding the dinner and the subsequent Friday White House tour for 25 top holders in the contest.

While it received a significant boost when the project initially announced the event, it has relinquished some of its gains after the dinner. For perspective, TRUMP is down 7% in the last 24 hours, trading at $12.87. Nonetheless, it trades well above the levels before the April announcement, when its value stood at $9.

Millionaire Mentor Says Generational Wealth Journey for XRP Is About to End, $8 is Next Brand New Chapter

The Bearable Bull, a crypto influencer and self-proclaimed millionaire mentor, boldly argues that XRP is heading toward $8, marking the end of the generational wealth journey.

After years of remaining anonymous, he now says the time has come to step into the spotlight and amplify his message like never before.

Generational Wealth Journey at $8 XRP

In his tweet, The Bearable Bull identified $8 as the next price target for XRP. He followed this with a bold claim that the “generational wealth journey for XRP” is nearing its conclusion, signaling the beginning of a brand new chapter.

This sentiment implies that early investors or those buying at current prices may soon see their efforts rewarded. It aligns with the popular belief that holding XRP through its lows and regulatory battles could yield life-changing financial returns, enabling wealth that spans generations.

Notably, XRP is trading at $2.33 today, down 4% over the last 24 hours and more than 48% below its all-time high.

However, the crypto influencer signals that a long-awaited price breakout is near, and the days of discouraging prices may soon be over.

In his view, XRP is on track for a rise to $8, representing a 243% gain from current levels. To put that into perspective, a $60,000 investment in XRP today could grow to over $206,000. Likewise, those with larger holdings, say $300,000, could become XRP millionaires if the price hits $8.

Meanwhile, the $8 price point may not be as transformative for retail investors with much smaller exposure. Notably, over 5 million wallets hold XRP worth around $1,000. With $8 per XRP, these holders would see their investment rise to about $4,000. While notable, this may fall short of the life-changing sum many hope for from XRP.

Given this reality, some XRP holders are looking toward a more ambitious future, envisioning a scenario where the token’s price reaches $1,000. In that hypothetical case, a $1,000 investment in XRP today would be worth around half a million dollars.

According to Matthew Brienen, an executive at CryptoGuard, those who want something this ambitious may have to wait ten years.

Seven-Year Journey with XRP

After years of silence, The Bearable Bull reflected on his seven-year journey with XRP. He explained that he built his YouTube channel on the belief that XRP would become the foundation of the next financial system. 

He revisited the impact of the SEC’s lawsuit against Ripple, calling it a “scam” that tested the XRP community’s resilience. Despite years of criticism, emotional strain, and what he described as a dilution of purpose in XRP content, he claims he never lost conviction.

Moreover, after seven years of anonymity, The Bearable Bull is choosing to reveal more about his journey. He stated that maintaining privacy was crucial in allowing him to build multiple successful crypto businesses quietly, without the pressure of public scrutiny. According to him, staying in the shadows enabled him to fail, learn, and grow without external noise.

Now stepping into the public eye, he suggests he has reached the limits of what could be achieved in private. His next goal is to “make the deepest impact imaginable” and share his message on a broader scale.

Ripple and XRP Adoption Crucial to Meeting G20 Cross-Border Payment Goals: Report

0

A report suggests the adoption of XRP and Ripple blockchain-based payment innovation is crucial in meeting the G20’s cross-border transaction target.

Ripple’s cross-border business is gaining more traction in the global payment industry. Its blockchain-based, low-cost, and split-second transactional acumen has been touted as crucial to meeting the payment needs of the G20, a conglomerate of the top 19 economies in the world, including the European Union and the African Union.

The 2025 edition of the confidential report from the US Faster Payments Council (FPC), mentioned by SMQKE, identified the G20’s 2027 and 2030 cross-border payment targets and how the US domestic payments providers can support these initiatives.

G20 2027 and 2030 Cross-Border Payment Plans

Interestingly, solutions for a quicker, cheaper, and more transparent cross-border payment system, which has a total addressable market of $34 trillion, are in demand globally. The report highlighted that the G20 prioritizes improving the sector as it has a broader impact on economic growth, international trade, and global development.

The G20 mapped out focus areas to improve the payment sector, specifically split into cost, speed, transparency, and access. The organization further distributed the targets among wholesale and retail payments and remittances.

Meanwhile, sniper points from the 2027 and 2030 goals include reducing the average payment cost to or below 1%, crediting 75% of cross-border payments within one hour, and creating multiple options to facilitate outside-border wholesale, retail, and remittance payments.

Excerpt from FPC Confidentiasl Report
Excerpt from FPC Confidential Report

Ripple’s Role in a Better Cross-Border Payment System

Interestingly, the US FPC has highlighted some roles that US domestic payment providers could play in supporting the G20’s vision. It encouraged ISO 20022 compliance among American payment firms, interoperability, distributed ledger technology (DLT) adoption to improve cost, and inter-industry collaboration.

Specifically, the industry-led membership organization identified Ripple’s RippleNet and Stellar as prominent financial technology firms with which close collaboration could improve the global cross-border payment landscape.

RippleNet Mention as Key Cross Border Innovation
RippleNet Mentioned as Key Cross-Border Innovation

Ripple’s Vision to Revolutionize Payment

The US-based payment giant built its business on enabling large financial institutions to move funds efficiently. With its RippleNet and Ripple Payment technology, Ripple is transforming cross-border payment beyond past standards.

Furthermore, Ripple leverages DLT, with XRP at the heart of the business. The firm enables large-scale, over-the-border transactions in a swift, cost-effective, and transparent manner, using the XRP Ledger as a means and XRP as a tool for its remittance.

Meanwhile, Ripple’s ISO 20022 compliance, blockchain-based, and on-demand liquidity business model meet the G20’s criteria, placing it as a major contender to lead the cross-border payment sector in the future. With the payment and remittance industry slowly tilting towards Ripple, XRP will benefit extensively from the growing adoption.

Pundit Says These are the People Who Will Get Left Behind When XRP Hits $10 to $100

A notable XRP community commentator insists the skeptics will likely get left behind when XRP eventually claims his ambitious price targets.

This comment came from BarriC, a community pundit who has persistently suggested that XRP has the potential to claim lofty price targets. His predictions, which have ranged from ambitious to borderline audacious, come as XRP consolidates around the $2 mark.

For context, since hitting a roadblock at the $3.4 peak in mid-January, XRP has failed to record any decisive push. The asset has remained at the lower ends of the $2 psychological territory for four months, and despite the recent Bitcoin (BTC) rally to New ATHs, XRP has maintained this position. 

Analyst Suggests Skeptics Could Miss Out on XRP Run

However, market commentators like BarriC continue to express confidence in XRP’s potential. BarriC has particularly championed audacious price targets, citing timelines most would find unbelievable. This has triggered criticisms and skepticism among most market participants.

Now, in his most recent disclosure, the analyst has taken a subtle dig at these skeptics. He called attention to the fact that XRP previously recorded an over 500x increase from $0.006 to more than $3 in the 2017 bull run. 

Nonetheless, BarriC confirmed that some still believe a similar rally cannot materialize again anytime in the future. He also claimed that these are the skeptics who push the narrative that XRP could never see another positive price volatility in its entire future. 

BarriC suggested that the individuals who champion such commentaries, which he considers FUD, will be the ones left behind when XRP claims targets such as $10, $20, $50, $100, and even $1,000. Notably, to reach these targets from the current price of $2.34, XRP would need to rally from 327% to 42,635%.

Inspired by Bitcoin’s Historical Performance

Notably, BarriC’s latest commentary is largely inspired by Bitcoin’s historical performance, which has triggered regret among early critics. For context, when BTC traded below $1 in its early days, critics condemned it as dead on arrival. However, as it now trades above $110,000, most of these individuals continue to regret the lost opportunity.

BarriC expects a similar occurrence with XRP. However, most skeptics suggest XRP has had enough time like Bitcoin to reach greater heights but still stagnates below its 2018 all-time high. Others suggest its larger circulating supply could act as a constraint, possibly hindering a rally to audacious targets like $100 and $1,000.

Nonetheless, besides BarriC, others believe XRP could reach $100 and $1,000, but their projected timelines clash. For instance, analysts at Changelly Exchange believe XRP could hit $100 in August 2034 and $1,000 by June 2040. However, Telegaon sees XRP claiming $100 between 2035 and 2040, with no timeline for the $1,000 target.

XRP Price Prediction Telegaon
XRP Price Prediction | Telegaon

$10,000 in Shiba Inu or XRP for Five Years? ChatGPT and Google Gemini Share Their Picks

AI chatbots Gemini from Google and ChatGPT from OpenAI choose between investing in Shiba Inu and XRP for the next five years.

The crypto market always presents opportunities for substantial gains. However, for investors looking to put their money to work over the long term, picking the right asset can be difficult. 

Which is the Better Investment Choice Between Shiba Inu and XRP?

Meanwhile, among the most prominent assets, Shiba Inu and XRP boast very lively communities that have continued to make ambitious price predictions for their respective tokens. 

Taking these two assets into consideration, we questioned AI chatbots, OpenAI’s ChatGPT and Google’s Gemini, to get their thoughts on where a $10,000 investment might go furthest over the next five years.

For context, Shiba Inu is currently trading at $0.000015. It has made a solid 15% gain this May, but still down nearly 28% since the start of the year. SHIB boasts a market value of $9 billion and an enormous supply of 589 trillion tokens.

Meanwhile, XRP trades at $2.44. Notably, the asset is having a stronger year, up over 17% since January, with an 11% gain just this month. XRP holds a much higher market cap at $143 billion, and its circulating supply is far smaller at 58.62 billion tokens. 

ChatGPT Picks a 70/30 Split for XRP and Shiba Inu

According to ChatGPT, choosing between SHIB and XRP comes down to managing risk. It described SHIB as a high-risk, high-reward option, due to its low price and energetic community. 

Speaking further, it also noted that the Shiba Inu ecosystem team has been working on growing the ecosystem with projects like Shibarium and a metaverse project.

ChatGPT Vets Shiba Inu
ChatGPT Vets Shiba Inu

However, ChatGPT highlighted that there are concerns. According to the chatbot, these concerns are mainly the massive supply, its meme coin background, and the fact that its price is easily affected by large holders moving their tokens.

On the other hand, ChatGPT pointed to XRP as a more stable pick with real-world use. It highlighted XRP’s utility in cross-border payments, the support it has from banks and institutions, and its progress in clearing up regulatory uncertainty. 

ChatGPT Vets XRP
ChatGPT Vets XRP

While ChatGPT did mention some ongoing concerns, like centralization and legal risks in certain countries, it felt that XRP had a stronger foundation for long-term growth.

In the end, ChatGPT recommended a 70/30 split—$7,000 into XRP and $3,000 into SHIB. That way, investors could lean on XRP’s steady progress while still giving SHIB a chance to shine if it delivers on its big ideas.

ChatGPT Picks Between Shiba Inu and XRP
ChatGPT Picks Between Shiba Inu and XRP

Gemini Also Favors XRP

Interestingly, Google’s Gemini gave a similar recommendation. It also favored XRP, suggesting the same 70/30 investment split. 

Gemini explained that XRP’s strength is in its ability to solve real problems, like making cross-border payments faster and cheaper. It also mentioned XRP’s part in a future where more assets are tokenized and moved across borders.

Gemini Picks Between XRP and Shiba Inu
Gemini Picks Between XRP and Shiba Inu

As for SHIB, Gemini acknowledged its efforts to grow beyond its meme coin image. The AI pointed out that SHIB’s new features, like NFTs and DeFi tools, could bring more value if enough users get on board. However, it also cautioned that SHIB is still highly volatile, and its long-term success is not guaranteed.

For perspective, at the current prices, $10,000 would procure 4,098 XRP and 666 million SHIB. Analysts at Telegaon believe XRP could reach $48.03 by 2030, while SHIB could hit $0.000712. At these prices, XRP would yield $196,826 from the $10,000 investment, while Shiba Inu would yield $474,666.

Here’s the Predicted Timeline for XRP to Reach $27

Analyst EGRAG Crypto has predicted the timeline for XRP to claim his ultimate two-digit target, further highlighting the breakout catalyst.

The market watcher discussed this in a recent commentary, suggesting that XRP might still be following its 2017 trajectory, a sentiment held and shared by several other analysts. According to EGRAG, XRP is replicating the last section of the 2017 run and could hit a $27 target in the next 60 days.

XRP Repeats 2017’s Initial Run and Consolidation

He leveraged this position to suggest that a major breakout might be looming. For context, XRP underperformed at the start of the 2017 bull run. However, it eventually saw a meteoric surge from $0.0055 in March 2017 to a peak of $0.3988 in May 2017. After this, it witnessed a pullback and subsequent consolidation for six months.

Interestingly, this pattern also played out during this bull run. Notably, XRP also underperformed in 2023 and most of 2024, languishing at the $0.5 mark. However, following the U.S. elections, XRP outperformed the rest of the crypto market with a near 600% run from $0.5 in November 2024 to $3.4 in January 2025.

Nonetheless, much like the 2017 run, it also faced a pullback in January 2025 and is now observing a consolidation. With this eerie similarity, EGRAG insists XRP is following the 2017 fractal. 

XRP Looking to Replicate 2017’s Second Upswing

Notably, following the six-month consolidation in 2017, XRP saw another 1,772% increase to claim its all-time high of $3.8 by January 2018. This marked the second wave of the rally. EGRAG believes XRP is on track to witness this second wave once the current consolidation ends.

The chart shows that it took around 63 days for XRP to soar 1,772% following the 2017 consolidation. Leveraging this precedence, he expects the asset to take another 60 days for the 1,772% uptick this time, which would push its price to the ultimate $27 target, currently aligning with the Fibonacci 1.618 extension.

XRP Price Targets EGRAG Crypto
XRP Price Targets | EGRAG Crypto

Nonetheless, EGRAG advised market participants to ensure they secure profit along the way once XRP breaks out of the current consolidation phase. Notably, before the ultimate $27 target, the analyst already identified lower price goals of $8.49 (Fib. 1.272) and $13.79 (Fib. 1.414).

Support and Resistance Levels to Watch

Meanwhile, as the market waits for the consolidation to dissipate, EGRAG highlighted a level that XRP must maintain to remain bullish. According to him, the asset must hold above the 21-week EMA, currently at $2.3, to keep the bullish momentum. Currently, XRP trades at $2.34, slightly above this mark.

XRP 1W Chart EGRAG Crypto
XRP 1W Chart | EGRAG Crypto

The analyst also identified the resistance levels XRP needs to breach to confirm that the breakout is now in effect. He suggested a rally above Fibonacci 1.414 at $2.7 would strongly signal an upward push. However, a push above the $3 mark would confirm the breakout is now underway. EGRAG expects XRP to claim $27 in July 2025 if the 2017 run repeats.

Pundit Says XRP Today’s Prices Are a Generational Entry, Compares XRP to Bitcoin at $0.05

Crypto commentator Dustin Layton is urging XRP holders not to underestimate the potential of their holdings amid current price stagnation.

XRP is down 4% today, trading at $2.33, roughly the same level it held a month ago. This comes despite Bitcoin reaching a new all-time high near $112,000 on Thursday, with XRP failing to benefit meaningfully from the broader market momentum.

Amid the price lull, influential voices within the XRP community are calling for patience. Layton drew a comparison between XRP’s current position and Bitcoin’s early days.

In a tweet, Layton highlighted how a mere $0.01 investment in Bitcoin during its infancy could be worth over $22,000 today, suggesting XRP may currently represent a similar opportunity.

From a Penny to a Fortune

Layton pointed to Bitcoin’s historical low of $0.04865 in July 2010. He noted that a $0.01 investment at that time would have procured 0.2 BTC. Fast forward to today, 15 years later, Bitcoin is trading at $111,000. That small, seemingly insignificant investment would now be worth $22,200.

In perspective, this equates to a return on investment of over 2,281,602%, meaning just a $1 investment would now be worth over $2.28 million.

The crypto analyst used this transformation to illustrate the power of early positioning in digital assets, showing how patience and foresight can yield dramatic results over time.

XRP: Today’s Bitcoin?

As a result, Layton encouraged XRP holders to recognize the asset’s potential at current price levels. He suggested that buying XRP at under $5, or even $100, should be viewed in the same light as purchasing Bitcoin for less than a dollar.

Edoardo Farina, founder of Alpha Lions Academy, has also urged XRP investors to maintain a long-term perspective amid price dips. Farina compared today’s XRP volatility to Bitcoin’s early years, citing how BTC surged from under $100 to over $96,000, a 96,000% gain.

“Would it matter if you bought Bitcoin at $100 or $300?” he asked, implying that short-term XRP fluctuations are irrelevant if the asset follows a similar trajectory.

These bold assertions come as XRP continues to trade significantly below its all-time high, with widespread apprehension about how long it will remain under its eight-year peak.

Skeptics Remain

While pro-XRP commentators frequently push the narrative that XRP could be the next Bitcoin, critics argue that XRP has been in the crypto market nearly as long as Bitcoin. If its market performance still lags so significantly, they say, it may not fit the narrative of being “the next Bitcoin.”

Indeed, XRP launched in 2012, just three years after Bitcoin. Its lowest historical price was $0.002802 on July 7, 2014, four years after Bitcoin hit its bottom. Yet, relative to today’s price of $2.34, XRP has appreciated by 83,648%, a figure that pales in comparison to Bitcoin’s 2,281,602% rise.

The Long-Term Vision

Still, the prevailing narrative among XRP believers remains: “early entry, long-term hold.” For instance, XRP community commentator BarriC recently stated that he hopes to take profit when XRP reaches $1,000.

Moreover, some market watchers argue that XRP would have traded higher compared to Bitcoin if the SEC lawsuit had not happened. Now that the case is close to an end, they expect XRP to see an explosive run that could see it catch up.

Cardano Ends Q1 2025 with $1.1B Treasury, Rising Governance Participation, and Mixed On-Chain Metrics

Leading analytics platform Messari has released a new report on Cardano, highlighting key developments in the ecosystem in Q1 2025.

One of the main highlights was Cardano’s transition to decentralized governance, marked by the enactment of its on-chain Constitution on February 24, 2025.

This represents a significant milestone in the Voltaire era, with CIP-1694 now fully implemented. Governance has officially shifted to the community through a structure involving Stake Pool Operators (SPOs), a Constitutional Committee, and over 1,220 active Delegated Representatives (DReps).

ADA Sees Price Decline, Market Cap Shrinks

Despite the major governance transformation, ADA experienced a challenging quarter financially. Its price fell by 22% quarter-over-quarter (QoQ) to $0.66, in line with a broader 19% decline in the crypto market. ADA’s circulating market cap dropped by 21% to $23.8 billion, though it retained its 9th-place ranking among crypto assets.

Transaction activity also declined, with average daily transactions down 28% to 71,500, and network fees in USD falling 32% to $1.2 million. 

However, the average transaction fee in USD rose 27% to $0.29, while the average fee in ADA rose only 1% to 0.34 ADA. Notably, this highlights the impact of ADA price volatility on transaction costs.

Stablecoins Surge While DeFi TVL Contracts

Meanwhile, Cardano’s DeFi Total Value Locked (TVL) fell by 29% QoQ to $319.3 million, underperforming the broader DeFi market, which declined by 26%.

However, a contrasting trend emerged in the stablecoin sector. Cardano’s total stablecoin market cap grew by 30%, reaching $30.2 million.

This growth was led by the USD-backed stablecoin USDM, which increased by 40%, and the newly launched fiat-backed stablecoin USDA, which quickly reached a $7.2 million market cap.

These contrasting trends in declining DEX activity alongside growing stablecoin adoption suggest a risk-off environment, where users prefer storing value in stable assets over engaging in active trading.

Top DeFi Protocols Adjust to Market Conditions

While TVL declined across major protocols, Cardano’s DeFi diversity score rose to 9. Minswap reclaimed the top spot with $77.4 million in TVL, overtaking Liqwid, which fell 38% to $70.3 million. Indigo, WingRiders, and Splash also experienced TVL declines but sustained active development and user engagement.

DEX aggregator DexHunter maintained its lead in volume and introduced new features such as leveraged trading and a developer API to support further ecosystem expansion.

Treasury Grows in ADA Terms, Declines in USD

Cardano’s treasury balance increased by 5% QoQ to 1.7 billion ADA, though its value in USD declined 19% to $1.1 billion due to the drop in ADA’s price.

With governance now in the community’s hands, 20% of all network fees are allocated to the treasury. This serves as a key funding source for development initiatives voted on by DReps and other governance participants.

By the end of Q1, Cardano had completed a fundamental transition in its decision-making process, transferring governance keys from IOG, the Cardano Foundation, and EMURGO to the community. Eight specialized Intersect committees now support on-chain governance actions.

Essentially, Cardano is now one of the few blockchains operating with a live constitutional governance model, involving voters, SPOs, and elected representatives in ongoing decision-making.

Despite market headwinds that suppressed token prices and activity, Cardano’s Q1 achievements point to growing maturity, laying the groundwork for a more resilient decentralized future.

XRP Now One of the Top Holdings Among Singaporeans: Independent Reserve Report

0

Singaporeans are increasingly buying altcoins like XRP as the asset’s adoption spreads across the nation and other APAC countries.

This data came from a recent report from Independent Reserve, Australia’s oldest and largest cryptocurrency exchange. The 2025 edition of its annual crypto index (IRC) Singapore exposition shows that XRP’s dominance is on the rise.

The survey, conducted by Milieu Insight Market Research and mentioned in a tweet by SMQKE, drew data from 1,500 Singaporeans, attempting to aggregate the broader perception of the nation’s residents towards cryptocurrencies. This year’s report shows that XRP is becoming a household name among the nation’s growing crypto enthusiasts.

Crypto Aware Singapore Buying XRP

According to the report, everyday Singaporeans’ crypto awareness is at an all-time high of 94%, with almost all respondents acknowledging they are familiar with at least one digital asset.

Bitcoin, the largest cryptocurrency by market cap, was the most popular cryptocurrency in the APAC region, with 91% of respondents noting that they know the coin. The premier asset also makes up 68% of the portfolio of Singaporean crypto investors.

Nonetheless, susceptibility towards alternative asset allocation has also increased in the past year, with assets like XRP leading the charge. The token saw the second-highest percentage increase in portfolio ownership among altcoins, reflecting growing adoption.

For perspective, 17% of Singaporean crypto portfolios comprise XRP, up 3% from 14% last year. Only Ethereum’s allocation growth from 41% to 48% trumped XRP’s, with Solana (17% to 19%) and Dogecoin (18% to 19%) recording lower growth. Despite this slower growth, the portfolios of crypto-holding Singaporeans comprise more of the aforementioned coins than XRP.

Excerpt from IRCI Report
Excerpt from IRCI Singapore Report

Remarkably, a recent report identified a similar increased portfolio allocation to XRP. Research from Bitso shows that Latin American crypto investors bought more XRP than Ethereum and Solana in 2024.

Meanwhile, Singaporeans invest a considerable amount in crypto monthly. About 57% of the respondents invest below $500 per month, 29% invest above $500 but below $1,000, while just 10% DCA into choice cryptocurrencies with over $1,000 monthly.

RLUSD in View as Stablecoin Appetite Grows

About 46% of respondents disclosed they own or have previously owned stablecoins. Of this figure, 21% currently hold stablecoins, while 25% used to hold them. 

Furthermore, 83% of holders prefer USD-pegged stablecoins. This confirms the American dollar’s dominance, a stance that the White House AI and crypto czar, David Sacks, says the United States intends to sustain with the stablecoin regulatory framework push.

Meanwhile, Ripple’s APAC managing director, Fiona Murray, highlighted this preference in the report and how the Ripple USD (RLUSD) stablecoin is a game changer. She further emphasized the transitioning of stablecoin beyond a trading tool to an asset for complex blockchain utility, such as in cross-border payment and DeFi.

With this vision, Ripple ventured into launching and deploying the RLUSD stablecoin in its payment business. So far, the asset has surpassed a market cap of $310 million in a few months, a testament to its instant market adoption.

The Ripple manager emphasized that RLUSD will power more than payment; it will fuel the next generation of crypto adoption. With a projection that the sector will reach $1 trillion by the end of 2025, RLUSD has more market share to attract.

BlackRock’s iShares Bitcoin Trust ETF Dethrones VOO to Become Top ETF in Daily Flows for the First Time

0

On May 22, the BlackRock iShares Bitcoin Trust ETF (IBIT) topped all U.S.-listed exchange-traded funds in daily inflows for the first time, dethroning VOO.

Notably, it surpassed longstanding leaders such as Vanguard’s S&P 500 ETF (VOO) and iShares Core S&P 500 ETF (IVV). According to Bloomberg Senior ETF Analyst Eric Balchunas, this marked a significant milestone, fueled by what he described as a “feeding frenzy” in response to the new price highs.

Specifically, the IBIT ETF saw a single-day inflow of $877.18 million, contributing to approximately $8 billion in total inflows over the past five weeks.

According to Bitwise President Teddy Fusaro, the performance of Bitcoin ETFs suggests their market introduction has been among the most successful in ETF history based on asset accumulation and inflow metrics to date.

ETF Flow Rankings Shift Amid Bitcoin Rally

This record-setting day pushed IBIT to the top of the ETF inflow leaderboard. Over the last month alone, the fund accumulated more than $7.5 billion, reflecting strong market interest in digital asset-backed products. 

Balchunas added that May 21 marked IBIT’s second-highest trading volume ever, closely trailing activity from January 23—another date aligned with a Bitcoin all-time high. Additionally, lifetime net flows for all Bitcoin ETFs combined have now reached $44.5 billion, signaling their growing presence in traditional portfolios.

Meanwhile, Treasury bond ETFs also saw elevated demand. iShares’ TLT ETF, which targets long-duration U.S. government bonds, posted $851.83 million in daily inflows and more than $2.2 billion for the week. 

While not surpassing IBIT, this performance indicates growing investor interest in duration exposure, potentially due to evolving interest rate expectations or broader risk management strategies. Notably, VOO remained strong with $558.06 million in daily inflows and $14.66 billion over the last month.

Institutional Momentum

CoinShares data for the week ending May 19 further supports the bullish trend, showing iShares ETFs in the U.S. leading with $907.80 million in weekly inflows.

Month-to-date, iShares pulled in $2.98 billion, bringing the year-to-date total to $9.04 billion. The product now manages over $69 billion in total assets under management (AUM).

In contrast, Grayscale Investments LLC continued to experience net outflows. The Grayscale Bitcoin Trust (GBTC) recorded $42.46 million in outflows over the week, with monthly losses of $152.77 million and year-to-date net redemptions totaling $1.62 billion. Despite managing $29.67 billion in AUM, these figures suggest a notable rotation away from higher-cost legacy products toward newer, lower-fee alternatives.