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ENA, the native cryptocurrency of Ethereum-based synthetic dollar protocol Ethena, has surged by 15% in the last 24 hours, as its USDe stablecoin becomes the third-largest in the category after Tether’s USDT, and Circle’s USDC. On-chain data shows a massive 75% surge in USDe supply on Ethereum, over the past month, showing strong demand in
The post Ethena Price Shoots 14% Ahead of Massive $100M Token Unlock, Sell-Off Ahead? appeared first on CoinGape.
The Oregon Justice Department has recently filed a Coinbase lawsuit, sparking widespread attention and criticism. In a sharp rebuke, XRP lawyer Bill Morgan slammed Oregon’s XRP complaint on Coinbase as “dystopian nonsense,” highlighting the state’s apparent disregard for previous judicial decisions on token’s status.
This article studies the details of the department’s allegations against Coinbase and the XRP lawyer’s disagreement with the department’s claims.
In a recent X post, XRP attorney Bill Morgan drew attention to the inconsistencies in the latest Coinbase lawsuit filed by the Oregon Justice Department. The department, led by Attorney General Dan Rayfield, alleged that Coinbase, a top crypto exchange, breached its state financial rules by offering unregistered securities, including XRP.
Vehemently opposing Oregon’s arguments, Bill Morgan highlighted the XRP lawsuit updates since 2020. Emphasizing Judge Analisa Torres’ ruling that XRP is a non-security, the lawyer dismissed Oregon AG’s allegations as “dystopian nonsense.”
In the latest development, the Oregon department filed a lawsuit against Coinbase. According to Coinbase, Oregon AG Rayfield’s lawsuit is an act of ‘resurrecting the dead.’ The same allegation of offering unregistered securities that the US SEC previously dropped against Coinbase with prejudice is now being pursued by AG Rayfield in the suit.
Notably, XRP lawyer Bill Morgan highlights two reasons to conclude that the Coinbase lawsuit is illogical.
Firstly, Coinbase hadn’t sold XRP on its trading platform or Coinbase Prime for nearly three years since the US SEC filed a lawsuit. The exchange delisted the token in December and relisted it only after Judge Torres’ summary judgement decision. Thus, the current allegations of Oregon AG against the exchange could be deemed baseless.
Secondly, Judge Torres’s judgment explicitly stated that XRP itself is not a security. This contradicts the the justice department’s claim that XRP is a “crypto security”.
The post XRP Lawyer Labels Oregon AG’s Coinbase Lawsuit as ‘Dystopian Nonsense’; Here’s Why appeared first on CoinGape.
The XRP price continues to rise this week, aided by numerous bullish Ripple news items, including the growth of RLUSD stablecoin. It rallied by 7% in the last seven days, and has jumped by over 37% from its lowest level in April.
Ripple Labs and community members hope that RLUSD will gain market share from other stablecoins like Tether (USDT) and USD Coin (USDC). This article explores how high the value of XRP would get if RLUSD captured 80% of Tether’s market cap.
A potential bullish catalyst for the XRP price is the growth of Ripple USD into a bigger force in the stablecoin industry. Its stablecoin now has a market cap of $294 million, making it the 20th biggest player in the sector.
It is also a much smaller coin compared to Tether, which has over $146 billion in tokens in circulation. As such, unless something major happens, it is highly unlikely that RLUSD will dethrone USDT.
However, there is a likelihood that stablecoin will continue gaining market share over time. This will accelerate now that Ripple’s legal issues have been resolved, a move that will help it secure more deals with US banks and other financial services.
For RLUSD to gain a 80% market share of Tether, its market cap needs to rise from $293 million today to $116.8 billion. Such a move would make it the second-largest stablecoin, surpassing USD Coin, which is valued at $62 billion.
The XRP price would likely perform well if such a move were to happen, as it would make Ripple a highly profitable company. Tether generated over $13 billion in profits last year, meaning that RLUSD would have generated approximately $10 billion. Some of these funds would be used to burn the XRP token.
The most likely XRP forecast is where the coin surges if its stablecoin market cap soars. However, it is somewhat challenging to pinpoint the exact price target. That’s because the Ripple USD’s growth to $116 billion market cap will likely take some time.
The weekly chart presents a bullish outlook for the XRP price. It has surpassed the crucial resistance level at $1.9857, its highest point in 2021. This price was the upper side of the cup-and-handle-like pattern that formed between 2021 and late last year.
XRP price has also received important support at the 50-week moving average. Therefore, the initial target will be the year-to-date high of $3.4, which is about 55% higher than the current level.
The Fibonacci extension can help you identify the next key level. By joining last year’s low of $0.288 and the all-time high, the extension brings the Ripple price target to $4.7187, up by 115% from the current level. Such a move would push its market cap to over $400 billion. It is also possible that the coin would surge to $17, where its market cap would get to $1 trillion if the RLUSD stablecoin had such a growth.
The value of XRP will become invalid if the price drops below the psychological level at $1.5. Such a drop will increase the likelihood of it falling below $1.
The post How High Will XRP Price Go if RLUSD Captures 80% of Tether’s $146B Market Cap? appeared first on CoinGape.
The US crypto market just got its clearest green light yet. On July 18, the GENIUS Act, America’s first-ever stablecoin regulation, officially became law, signed by President Trump after passing both the House and Senate. Alongside it, the CLARITY Act, which aims to split crypto regulatory duties between the SEC and CFTC, cleared the House and now heads to the Senate.
These back-to-back legislative wins mark the most significant regulatory momentum in years. As markets responded, whale wallets rotated capital into tokens synced with hype cycles, infrastructure, and meme-driven narratives. On-chain data shows three altcoins gaining attention.
Lido DAO has seen a strong wave of accumulation this week, with whale holdings up 40.38%, increasing to 18.68 million LDO, worth approximately $23.17 million at the current price of $1.24. This uptick in large wallet activity comes alongside LDO attempting a breakout past recent resistance levels.
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Exchange balances dropped by 4.27% to 282.7 million LDO, suggesting continued outflows as tokens move into self-custody. Moreover, the top 100 holders now control 828.85 million tokens, up 0.53%, showing growing dominance and tighter supply concentration.
Also, Lido’s distribution score remains low at 8, reinforcing the insider-heavy nature of its supply base. At the same time, smart money dipped 6.64%, likely due to profit-taking on earlier entries. Not surprising as LDO has charted gains worth 41%+ week-on-week.
With the GENIUS Act passing in the US House, staking-focused assets like Lido may be gaining favor among whales anticipating regulatory green lights. As Ethereum staking grows more legitimized, protocols like Lido appear well-positioned for renewed institutional interest.
FLOKI has caught strong crypto whale attention this week, with large holders increasing their positions by 4.63%, pushing whale holdings to 27.24 billion FLOKI. At the current price of $0.00013974, that equals around $176,000 in fresh whale inflows over the past 7 days. The uptick aligns with Floki’s 100% month-on-month rally, hinting that whales may be front-running further upside.
The top 100 addresses now hold 8.95 trillion tokens, up 0.35%, suggesting steady accumulation at the top end. Despite the climb, the distribution score remains at 9, indicating a somewhat centralized but expanding holder base. Exchange balances have dropped 1.3% to 2.13 trillion, signaling mild outflows and a potential supply crunch forming on centralized platforms.
Backed by meme coin momentum and community-driven speculation, FLOKI is emerging as a standout in the post-GENIUS Act buzz, especially as US regulatory clarity injects confidence into risk-on tokens. This confidence stems from the fact that traders can rotate stablecoins into riskier plays without worrying about the ground shifting under them.
BOME, the Solana-based meme coin, is up 31% over the past 7 days and 70% month-on-month, riding the meme coin resurgence fueled by US retail optimism post-GENIUS Act. Crypto whale holdings have climbed to 1.46 billion BOME, marking a 2.71% increase. The combined whale holdings, at the current price of $0.0024, are equivalent to $3.53 million worth of tokens.
Additionally, the distribution score is 15, signaling centralization but improving participation. Plus, the top 100 addresses saw a slight dip of 0.01%, potentially reflecting internal reshuffling. Exchange reserves dipped 0.11% to 56.54 billion, supporting the thesis of decreasing sell-side pressure and reinforcing bullish leanings on-chain.
The meme tokens’ (FLOKI and BOME) sharp bounce appears more than just sentiment; it coincides with renewed appetite among large holders during a week where broader US legislative wins injected confidence in speculative altcoins. With public wallets flat and smart money unchanged, whales remain the key market movers here.
The post What Crypto Whales Are Buying After Successful US Crypto Week appeared first on BeInCrypto.