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Brazil Fund manager Vert has issued a $130 million Receivables Certificate on the XRP Ledger (XRPL) following the launch of its tokenized private credit platform. This marks a significant development for the network, as these debt instruments finance the agricultural sector, which contributes more than 20% of Brazil’s GDP. Vert’s $130 Million Debt Instrument Goes
The post Brazil’s Vert Tokenizes $130M Debt Instrument on XRP Ledger appeared first on CoinGape.
Interest in XRP is cooling off, with key on-chain metrics signaling potential short-term weakness ahead.
With waning bullish sentiment across the broader market, these factors suggest a likely deeper price decline for XRP in the coming trading sessions.
XRP’s falling Estimated Leverage Ratio (ELR) on leading exchange Binance confirms falling investor confidence and a declining appetite for risk. According to CryptoQuant, the ELR currently sits at 0.36 — its lowest weekly close in the past month.
An asset’s ELR measures the average amount of leverage its traders use to execute trades on a cryptocurrency exchange. It is calculated by dividing the asset’s open interest by the exchange’s reserve for that currency.
XRP’s declining ELR indicates a reduced risk appetite among traders. It suggests that investors are growing cautious about the token’s short-term prospects and are avoiding high-leverage positions that could amplify potential losses.
The trend is no different among spot market participants. According to Coinglass data, XRP has recorded negative netflows exceeding $222 million since July 29, signaling persistent sell-side dominance and weak buy-side pressure.
When an asset records negative spot netflows, traders are selling their holdings and taking profits, while fewer buyers are stepping in to replace them.
This trend could worsen XRP’s current downtrend, as the demand for the asset decreases while its supply builds up.
As sell-side pressure gains, XRP risks plunging to $2.71. If this support floor fails to hold, the altcoin could witness a steeper fall to $2.50.
On the other hand, a breakout above the $3 price level remains possible if buying momentum strengthens. A successful move past this threshold could pave the way for a rally toward $3.39.
The post Two Reasons Why XRP Could See a Sharp Drop Soon appeared first on BeInCrypto.
Cronos rallied 10% after Crypto.com announced a partnership with Trump Media to create new altcoin ETFs. Today’s announcement is a binding agreement that builds on earlier relationships.
CRO is the native cryptocurrency of the Cronos blockchain, developed by Crypto.com. It serves as a utility token within the Crypto.com ecosystem, facilitating various functions such as staking, transaction fee payments, and accessing benefits across the exchange’s services.
Last month, Crypto.com announced a non-binding partnership with Trump Media. This saw increasing market interest in the token, but also attracted harsh criticism.
Specifically, the firm re-issued 70 billion CRO tokens that were “permanently burned” in 2021. The two companies just announced a binding agreement, but it caused smaller gains:
This new agreement between Crypto.com and Trump Media seems substantially similar to the last one. The two firms committed to launching new ETFs based on unspecified digital assets and “securities with a Made in America focus,” specifically mentioning energy firms.
Crypto.com has expressed interest in a CRO ETF, making it a likely target for this partnership.
“Crypto.com is the leading platform to bridge crypto and traditional finance, and this agreement is a testament to those capabilities. This partnership gives the Trump Media ETFs global distribution powered by the Crypto.com platform. It’s a win for Trump Media, Crypto.com, CRO, and Yorkville America Digital,” said Kris Marszalek, Co-Founder and CEO of Crypto.com.
On the surface level, it may look like SEC approval is the largest hurdle facing Trump Media and Crypto.com. The Commission has been flooded with applications since Trump took office, but no new altcoin ETFs have been approved yet.
As a report from yesterday alleged, various crypto firms have received tangible regulatory breakthroughs since donating to Trump’s Inauguration.
Several firms (including Crypto.com) had SEC investigations closed, while others, like Galaxy Digital, got the Commission’s approval for key business ventures.
Of course, Trump’s Presidency has promised a sweeping tide of pro-crypto regulations, so it could be unfair to single out specific firms as beneficiaries.
Further, an ETF approval is a big deal, and even a friendlier SEC might not give it easily. Whether or not the markets think the SEC would fast-track this product has no bearing on the actual outcome.
As ETF analysts have outlined, the entire market is saturated right now. There are 72 active proposals for new altcoin ETFs, but Bitcoin controls 90% of the crypto ETF market.
If a CRO ETF wins approval, it may be competing with a huge wave of newcomers over tiny chunks of BTC’s market share. Perhaps investors don’t see it as a likely option.
Overall, Trump and Crypto.com are doubling down on their partnership, and it could have big long-term implications. Any of the aforementioned factors (or a mix of several) might explain this outcome.
The post Cronos (CRO) Surges 10% As Trump Media Partners with Crypto.com for Altcoin ETFs appeared first on BeInCrypto.
Spot Ethereum ETFs have recorded ten consecutive days of inflows, showing growing institutional demand for the asset, while Bitcoin ETFs have seen a surge in outflows over the past two trading sessions. This shift in institutional capital rotation could be due to the recent push to introduce staking to Ether ETFs. Furthermore, with 40% gains on the monthly chart, ETH has outperformed BTC in recent times. Ethereum ETF Inflows On the Rise Over the past ten trading sessions, inflows into spot Ether ETFs have gathered pace, with BlackRock’s iShares Ethereum Trust (ETHA) dominating the flows. As per data from Farside Investors, ETHA inflows stood at $70.2 million on Friday, as per data from Farside Investors. As a result, its total inflows since inception have crossed more than $4.6 billion, while taking the net flows across all US ETF issuers to more than $3 billion, since inception. Similar to Ethereum price… Read More at Coingape.com
The post Why Ethereum ETFs Are Soaring While Bitcoin Sees Record Outflows appeared first on CoinGape.