2024

Bitcoin

<p>The post <a href="https://coinpedia.org/news/crypto-news-today-institutional-investors-fuel-crypto-rally-bitcoin-and-xrp-pricesurge/">Crypto News Today: Institutional Investors Fuel Crypto Rally; Bitcoin and XRP PriceSurge</a> appeared first on <a href="https://coinpedia.org">Coinpedia Fintech News</a></p> 
<p>The total crypto market cap edged 2 percent higher towards $2.1 led by Bitcoin (<a href="https://markets.coinpedia.org/bitcoin/" target="_blank" rel="noreferrer noopener">BTC</a>) and Ripple Labs-backed XRP. Following the heightened crypto volatility, more than $215 million was liquidated from the crypto industry in the last 24 hours, mostly involving long trades.&nbsp;</p> 
<p>According to the latest crypto data, <a href="https://coinpedia.org/price-prediction/bitcoin-price-prediction/" target="_blank" rel="noreferrer noopener">Bitcoin price</a> rallied nearly 4 percent in the past 24 hours to trade at about $57.1k on Thursday during the early European session. On the other hand, <a href="https://coinpedia.org/price-prediction/xrp-ripple-price-prediction/" target="_blank" rel="noreferrer noopener">XRP price</a> pumped over 18 percent to trade around 61 cents at the time of this report.&nbsp;</p> 
<h2 class="wp-block-heading" id="h-top-reasons-crypto-rebounded-today">Top Reasons Crypto Rebounded Today</h2> 
<h3 class="wp-block-heading" id="h-rising-demand-from-institutional-investors-nbsp"><strong>Rising Demand from Institutional Investors&nbsp;</strong></h3> 
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   <p lang="en" dir="ltr">Institutions are buying the dip!<br><br>In less than 2 days, <a href="https://twitter.com/hashtag/Cumberland?src=hash&amp;ref_src=twsrc%5Etfw">#Cumberland</a> received 372M <a href="https://twitter.com/search?q=%24USDT&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$USDT</a> from <a href="https://twitter.com/hashtag/TetherTreasury?src=hash&amp;ref_src=twsrc%5Etfw">#TetherTreasury</a> and transferred it to <a href="https://twitter.com/hashtag/Coinbase?src=hash&amp;ref_src=twsrc%5Etfw">#Coinbase</a>, <a href="https://twitter.com/hashtag/Kraken?src=hash&amp;ref_src=twsrc%5Etfw">#Kraken</a>, <a href="https://twitter.com/hashtag/OKX?src=hash&amp;ref_src=twsrc%5Etfw">#OKX</a>, <a href="https://twitter.com/hashtag/Binance?src=hash&amp;ref_src=twsrc%5Etfw">#Binance</a> and <a href="https://twitter.com/hashtag/Forwarder?src=hash&amp;ref_src=twsrc%5Etfw">#Forwarder</a>.<a href="https://t.co/yYuVGPsQjX">https://t.co/yYuVGPsQjX</a><a href="https://t.co/1gyDg1hMJn">https://t.co/1gyDg1hMJn</a> <a href="https://t.co/mH55k0x6PG">pic.twitter.com/mH55k0x6PG</a></p>— Lookonchain (@lookonchain) <a href="https://twitter.com/lookonchain/status/1821362893717479871?ref_src=twsrc%5Etfw">August 8, 2024</a>
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<p>Amid the heightened fear of further crypto capitulation in the midterm, institutional investors have turned greedy and accelerated their accumulation rate in the recent past. According to the on-chain data analysis provided by Lookonchain, institutional investors have been increasing their purchasing power through depositing stablecoins in different centralized crypto exchanges.</p> 
<p>Specifically, Cumberland, a leading provider of liquidity for crypto assets to institutional investors, deposited $372 million, received from Tether’s treasury, to different CEXs led by Binance, Kraken, OKX, and Coinbase.</p> 
<p>The US spot Bitcoin ETFs <a href="https://x.com/spotonchain/status/1821400778248270210?s=46" target="_blank" rel="noreferrer noopener nofollow">registered</a> a net cash inflow of about $45 million while the spot ETH ETF recorded an outflow of about $24 million.</p> 
<p>Meanwhile, Metaplanet <a href="https://x.com/metaplanet_jp/status/1821339659638546531?s=46" target="_blank" rel="noreferrer noopener nofollow">announced</a> that it has secured ¥1 billion, for a 0.1 percent APR loan, to fund additional purchases of Bitcoin.</p> 
<h3 class="wp-block-heading" id="h-final-ruling-on-sec-vs-ripple-case"><strong>Final Ruling on SEC vs Ripple Case</strong></h3> 
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   <p lang="en" dir="ltr">The SEC asked for $2B, and the Court reduced their demand by ~94% recognizing that they had overplayed their hand. We respect the Court’s decision and have clarity to continue growing our company.<br><br>This is a victory for Ripple, the industry and the rule of law. The SEC’s…</p>— Brad Garlinghouse (@bgarlinghouse) <a href="https://twitter.com/bgarlinghouse/status/1821289051191963861?ref_src=twsrc%5Etfw">August 7, 2024</a>
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<p>The final ruling by US District Judge Analisa Torres on the <a href="https://coinpedia.org/news/ripple-vs-sec-lawsuit-ends-xrp-price-surges-17-following-favorable-court-ruling/" target="_blank" rel="noreferrer noopener">SEC vs Ripple case</a> has shed much-needed light on the entire crypto industry. Although the ruling much focused on XRP sales, Ripple’s CEO Brad Garlinghouse indicated that it was a major victory for the entire industry.</p> 
<p>Also Check Out: <a href="https://coinpedia.org/news/crypto-bull-run-in-september-u-s-50b-buyback-rate-cuts-could-ignite-the-market/" target="_blank" rel="noreferrer noopener">Crypto Bull Run in September? U.S. $50B Buyback &amp; Rate Cuts Could Ignite the Market!</a></p>

Crypto News Today: Institutional Investors Fuel Crypto Rally; Bitcoin and XRP PriceSurge

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