Arizona’s second Bitcoin reserve bill, SB 1373, has cleared its final reading with Senate approval. The bill now moves to Governor Hobbs, who recently vetoed the first Bitcoin Reserve Bill, SB 1025. This represents a key step in the state’s ongoing efforts to establish a Bitcoin reserve, despite the previous rejection. The final decision now rests with the governor, and the outcome will determine Arizona’s next move in its Bitcoin reserve strategy.
According to the latest data, artificial intelligence (AI) agent tokens have outperformed other crypto sectors over the past 30 days, experiencing a remarkable double-digit price growth.
This surge comes amid a broader market recovery, with AI agents emerging as the dominant narrative.
Yet, the momentum has reversed. Over the past month, AI agents have seen a 39.4% price growth. The sector has outpaced other narratives like meme coins (+36.9%) and decentralized AI (+16.3%) over the past 30 days.
With the highest relative strength score of +7.7, the tokens have demonstrated exceptional momentum, highlighting their increasing appeal among investors.
CoinGecko data shows that this surge has propelled the total market capitalization of AI agent tokens to $6.4 billion. Among the top ten tokens, Virtuals Protocol (VIRTUAL) has seen an extraordinary 142.8% increase in value, hitting a two-month high. The token’s growth is underpinned by a notable uptick in active users, signaling strong community engagement and adoption.
Top 10 AI Agents Price Performance. Source: CoinGecko
“AI agents are the hot rotation right now — and Santiment backs it up with a clear surge in social dominance for “AI agents,” mirroring the sharp sector-wide price rebound,” a user noted on X.
The broader interest in the sector extends beyond the crypto market, as evidenced by Google Trends data. Last week, the search volume for the keyword “AI Agents” peaked at 100. At the time of writing, it stood at 94. This reflected growing public curiosity, both within and outside the blockchain space.
Is FOMO Fueling the Latest Surge in AI Agents?
Nonetheless, despite the bullish sentiment, some experts remain skeptical. Simon Dedic, CEO of Moonrock Capital, drew attention to AI and meme coins’ recent outperformance.
According to him, this trend reflects what he describes as the “ultimate mid-curve trade.” In other words, many investors who had previously remained on the sidelines are now rushing to invest in these sectors. Nevertheless, they are driven by the fear of missing out (FOMO) on potential gains as market conditions improve.
Thus, Dedic is highly critical of this behavior. He suggested that these investors focus more on chasing trends than making sound, long-term investment decisions.
“They deserve to lose it all – and most of them probably will. The real alpha will be in the fundamental catch-up trade and it will outperform everything else,” Dedic claimed.
As the market continues to evolve, only time will reveal whether these tokens can maintain their momentum or if the speculative hype will ultimately fade.
The recent developments keep the SEC vs Ripple case on track for possible appeals.
XRP price is well positioned to retest its all-time high in the near future catalyzed by rising demand from institutional investors.
Judge Analisa Torres of the Southern District of New York denied Ripple Labs and the United States Securities and Exchange Commission (SEC) motion for an indicative ruling. Both the SEC and Ripple had sought the court’s guidance on whether the July 2023 summary judgment ruling could be reconsidered.
The parties wanted the court to consider the recent Coinbase ruling, which clarified the application of the Howey test in regard to XRP sales. However, Judge Torres rejected the motion for an indicative ruling, stating that both parties failed to show how the Coinbase ruling would ultimately alter the case trajectory.
According to Fred Rispoli, a trial lawyer focused on the cryptocurrency market, both the SEC and Ripple ought to file a detailed motion to convince Judge Torres why the case should be ultimately dropped.
“By styling their motion as one for “settlement approval,” the parties fail to address the heavy burden they must overcome to vacate the injunction and substantially reduce the Civil Penalty.”
Translation: You F****** wasted 5 years of my time on this and that is ridiculous.… https://t.co/glES2xZm99
Impact of Judge Torres’s Decision on Ripple vs SEC on the XRP Market
As Coinpedia has regularly pointed out in the past few months, XRP price confirmed a macro bullish breakout and is en route to price discovery in the coming months. The large-cap altcoin, with a fully diluted valuation of about $242 billion and a 24-hour average traded volume of about $4.8 billion, recently rebounded from the support level of around $2 to trade about $2.43 on Thursday, May 15, during the late North American trading session.
In the four-hour timeframe, the XRP price has been trapped in a short-term correction mode, which was exacerbated by the Judge Torres ruling. As of this writing, XRP price had dropped about 5.1 percent in the past 24 hours, thus likely to drop further to retest the support level at about $2.35.
The post Judge Analisa Torres Denies Ripple and SEC’s Motion for an Indicative Ruling: What Next for XRP? appeared first on Coinpedia Fintech News
The recent developments keep the SEC vs Ripple case on track for possible appeals. XRP price is well positioned to retest its all-time high in the near future catalyzed by rising demand from institutional investors. Judge Analisa Torres of the Southern District of New York denied Ripple Labs and the United States Securities and Exchange …
The crypto world woke up to big news today as XRP officially became part of the SEC-approved Grayscale Digital Large Cap ETF. This move means, for the first time in nearly five years of legal battles between the SEC and Ripple, everyday investors in the U.S. can now gain exposure to XRP through a regulated investment product on the New York Stock Exchange.
The Grayscale ETF includes multiple major cryptocurrencies like Bitcoin, Ethereum, Solana, Cardano, and XRP, making it the biggest multi-token crypto ETF in the market. Many in the crypto space are calling this a massive moment for XRP, hinting it could soon clear the path for individual spot XRP ETFs to be approved next.
Biggest news from today IMO…
xrp will now be accessible to everyday investors via Grayscale Digital Large Cap ETF.
After nearly 5yrs of SEC vs Ripple litigation.
And now anyone will be able to easily access xrp in SEC-regulated investment vehicle.
Crypto analysts and XRP supporters are celebrating as this approval signals a shift in the SEC’s stance toward XRP. Around 17 more XRP ETFs are reportedly waiting for SEC approval. While the exact number isn’t officially confirmed, multiple applications are in line, and today’s development has significantly increased the hope that more approvals could start rolling in over the coming months.
Why does this matter?
Until now, U.S. investors faced hurdles buying XRP through exchanges due to regulatory uncertainty and the ongoing Ripple-SEC lawsuit. With this new ETF, investors can simply buy shares backed by XRP, just like any traditional stock, without dealing with crypto exchanges or wallets.
This move could bring massive inflows of capital into XRP, as institutional investors and traditional traders who previously avoided direct crypto exposure can now safely invest in it.
At the same time, XRP’s price chart is tightening, showing signs of a breakout setup. If Bitcoin rallies and market conditions remain strong, XRP could soon make a major move upward.
The post XRP Enters Grayscale’s NYSE-Listed Digital Asset ETF, Eyes on Pending 17 XRP ETF Filings appeared first on Coinpedia Fintech News
The crypto world woke up to big news today as XRP officially became part of the SEC-approved Grayscale Digital Large Cap ETF. This move means, for the first time in nearly five years of legal battles between the SEC and Ripple, everyday investors in the U.S. can now gain exposure to XRP through a regulated …
