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Hyperscale Data (NYSEAMERICAN: GPUS) has announced plans to publish weekly updates on its multi-million-dollar XRP accumulation strategy as it kicks off the process. The company’s stock, listed under the ticker GPUS, responds positively to the announcement. Hyperscale Data Begins $10M XRP Treasury Plan Hyperscale Data (formerly known as Ault Alliance and BitNile Holdings, etc) has
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The post Big Breaking: Canada Approves First XRP Spot ETF, Set to Debut June 18 appeared first on Coinpedia Fintech News
A big moment for the crypto world has arrived! Purpose Investments Inc. has officially secured the final go-ahead for its Purpose XRP ETF, clearing the way for the fund to launch this week on the Toronto Stock Exchange (TSX). The ETF will start trading on Wednesday, June 18, 2025, under the ticker symbol XRPP.
This makes it the first spot XRP ETF in Canada, giving investors a simple, regulated way to gain direct exposure to XRP.
Vlad Tasevski, Chief Innovation Officer at Purpose Investments, called the approval a breakthrough for the country’s crypto market. “This signals Canada’s growing leadership in creating a secure, regulated environment for digital assets. We’re proud to lead the way by offering investors safe, reliable access to blockchain-powered technologies,” he said.
The new fund will be available in multiple formats to suit different investor needs:
Investors will also be able to hold the Purpose XRP ETF in tax-friendly accounts like TFSAs and RRSPs, making it even easier for Canadians to diversify into crypto through trusted, regulated options.
The timing couldn’t be more interesting — this development arrives as the Ripple vs. SEC case in the U.S. heads toward a critical deadline. With legal clarity potentially on the horizon, XRP’s growing global acceptance is reflected in moves like this.
The XRP market is already showing bullish signs. The price is up by more than 7% and has climbed above the important $2.30 level at the time of writing.
The post Big Breaking: Canada Approves First XRP Spot ETF, Set to Debut June 18 appeared first on Coinpedia Fintech News
A big moment for the crypto world has arrived! Purpose Investments Inc. has officially secured the final go-ahead for its Purpose XRP ETF, clearing the way for the fund to launch this week on the Toronto Stock Exchange (TSX). The ETF will start trading on Wednesday, June 18, 2025, under the ticker symbol XRPP. This …
Ethereum price tumbles below $1,600 facing pressure amid $86 million DeFi capital flight to faster, low-cost rivals like Solana.
Ethereum (ETH) is facing renewed competitive pressure after nearly $87 million in assets migrated from its ecosystem to rival blockchains in the week following former U.S. President Donald Trump’s repeal of a controversial decentralized finance (DeFi) regulation.
On April 10, Trump signed a bill overturning a Biden-era mandate requiring DeFi protocols to comply with Know Your Customer (KYC) and Anti-Money Laundering (AML) rules. The reversal was widely interpreted as a win for crypto-native projects, removing a major regulatory overhang that threatened the sector’s permissionless structure.
But for Ethereum — the current hub of DeFi liquidity — the impact has been less than favorable.
According to data from Wormhole, the largest cross-chain bridge on Ethereum, Solana captured the lion’s share of outflows with over $54 million redirected into its ecosystem. Base, Arbitrum, and Avalanche followed, attracting $9.6 million, $5.8 million, and $3.9 million, respectively.
Notably, the Solana-bound assets were funneled into DeFi protocols such as Jupiter, Kamino, and MarginFi.
Based on the latest data from DefiLlama, Solana TVL has been on a steady rise since Trump’s signing repealed the DeFI law last week.
As seen in the chart above, Solana TVL increased 12% from $6.1 billion on April 9, to hit the $6.9 million mark at press time on Wednesday, April 16. This shows that investors deposited over $800 million into various Solana native Defi protocols over the past week.
With Solana price currently trading at $135, up 21% on the weekly timeframe. Comparatively, Ethereum price is trading below $1,600 mark, with its 8% gain on the weekly candle, reflecting second lowest returns among the top 10 ranked crypto assets.
The DeFi fund flows observed on the Wormhole bridge further reinforce the narrative that Ethereum could be losing market dominance, as deepening regulatory clarity encourages investors to switch towards rival Layer-1 and Layer-2 protocols.
The ongoing migration trend from Ethereum to faster, lower-cost networks. Ethereum still leads in total value locked (TVL), but this week’s data is a clear signal of shifting momentum.
More so, major institutional players venturing into crypto on new themes like Real-world Asset and securities Tokenization are increasingly opting for alternative layer-1 protocols like Hedera, Avalanche, while Solana and Cardano maintain a strong hold on retail dominance.
Solana, which suffered from performance concerns in 2022, has staged a significant turnaround in both uptime and developer activity.
The network processed over 60 million daily transactions this week, far surpassing Ethereum’s 1.1 million, and maintained average fees below $0.01, according to data from Solana Explorer.
Ethereum price forecast charts show early signs of a potential rebound after closing at $1,592.60, gaining 0.24% on the day.
The Bollinger Bands are starting to compress, suggesting a volatility squeeze, with the mid-band resistance at $1,695.42 acting as the first upside target. ETH price is currently attempting to reclaim ground within the lower half of the bands, signaling the possibility of a bullish reversal.
The Parabolic SAR dots have flipped below the candlesticks, which is a classic buy signal in trend-following strategies.
This adds further weight to a bullish Ethereum price forecast, especially as the MACD histogram shifts into green territory for the first time in weeks. The MACD line is rising toward the signal line, suggesting bullish momentum may soon dominate.
If ETH clears $1,695, a push toward the upper Bollinger Band at $1,960 becomes plausible. However, failure to maintain current support near $1,430, ETH price risks a retest of $1,397.19, where the SAR last confirmed support.
The post Ethereum Price Analysis: What Next for ETH as Traders Swap $86M into Solana DeFi protocols ? appeared first on CoinGape.
Bitcoin (BTC) reclaimed the $93,000 threshold during the early hours of the Asian session on Wednesday. The show of strength came after President Trump articulated his position about Federal Reserve (Fed) chair Jerome Powell’s replacement talks.
Over the past several months, the pioneer crypto has demonstrated increased correlation with broader economic and political issues. This suggests that macroeconomics is growing in influence on Bitcoin.
Barely a week ago, BeInCrypto reported that a Fed chair change was imminent. This was amid the economic strain caused by Trump’s Tariffs.
The report followed Treasury Secretary Scott Bessent’s announcement that the Trump administration was planning to interview candidates to replace Jerome Powell.
Reports of opposing views between Trump and Powell concerning interest rate cuts exacerbated the idea. On the one hand, Trump wants the Fed to cut interest rates to cushion Americans from the effects of the trade wars.
“The Fed would be much better off cutting rates as US Tariffs start to transition (ease!) their way into the economy. Do the right thing,” Trump wrote on Truth Social.
On the other hand, Powell insists on a cautious approach to monetary policy decisions, rejecting further interest rate cuts. The Fed also made significant downward revisions to its 2025 economic projections.
These opposing views fanned speculation that Jerome Powell’s job as Fed chair was at risk. In a recent development, however, Trump stated that he has no plans to fire Powell.
“I have no intention of firing him…I would like to see him be a little more active in terms of his idea to lower interest rates,” Reuters reported, citing Trump telling reporters in the Oval Office on Tuesday.
In the immediate aftermath, Bitcoin shattered past the $93,000 threshold. As of this writing, BTC was trading for $93,136, representing a surge of almost 6% in the last 24 hours.
Notably, there are about 13 months left in Jerome Powell’s tenure as chair of the Federal Reserve.
BitMEX founder and former CEO Arthur Hayes commented on the swift reaction to this topic on the Bitcoin price chart.
“Trump says he wants to fire JAYPOW – dollar dips, BTC rips Trump says he has no intention of firing JAYPOW – dollar rips, BTC rips some more,” Hayes quipped.
This comment highlights market sensitivity to political uncertainty in 2025. In hindsight, the US Dollar Index (DXY) recently dropped to a 3-year low, fueled by President Trump’s push to oust the Fed chair.
In tandem, Bitcoin rallied as investors viewed it as a potential hedge against a weakening dollar and inflationary pressures.
As Trump’s stances cause market volatility, fluctuations in the dollar are bullish for Bitcoin, reflecting its appeal as a hedge against traditional financial (TradFi) instability.
BeInCrypto reported this status in a recent US Crypto News publication, citing Geoff Kendrick, the Head of Digital Asset Research at Standard Chartered.
According to Kendrick, Bitcoin is increasingly seen as a hedge against TradFi and US Treasuries risks.
“I think Bitcoin is a hedge against both TradFi and US Treasury risks. The threat to remove US Federal Reserve Chair Jerome Powell falls into Treasury risk—so the hedge is on,” Kendrick told BeInCrypto.
Meanwhile, Nate Geraci, the president of the ETF Store, says Bitcoin is benefiting from the erosion of trust in governments and politicians, which is pushing people towards alternatives.
“Bitcoin is one of the biggest winners from events over the past several weeks IMO, at least from a philosophical standpoint. Further erosion of trust in governments and politicians will push people towards alternatives. Not saying that is good or bad, but think logically,” Geraci remarked.
The post Bitcoin Reclaims $93,000 After Trump Quells Fed Chair Jerome Powell Firing Talks appeared first on BeInCrypto.