Ripple CEO flaunts new Gemini XRP card
Brad Garlinghouse has posted a photo of himself rocking the new XRP card.
- Ripple CEO joins in. Garlinghouse showcased his card on social media.
Brad Garlinghouse, the CEO of Ripple, recently took to the X social media to show off his new XRP card. Gemini released its XRP credit card on Monday. The card, which offers up to 4% cash back on various products and services, was released due to the price massive gains recorded by the XRP token, Gemini says.
- Community reaction. Despite the hype, reception among XRP holders was lukewarm.
However, the product received rather tepid reactions within the XRP community, with many claiming that it failed to live up to the hype that the exchange was trying to generate prior to the announcement. Gemini has had XRP awards with its ordinary rewards for months, meaning that the new product does not bring anything particularly novel to the table. Some XRP holders have also criticized the fact that the new card is available only in the U.S.
Gemini CEO Tyler Winklevoss has said that the exchange is going to give Ripple Garlinghouse “the whale limit” on his XRP card. “I’m told he’s good for it,” he quipped. David Schwartz, chief technology officer at Ripple, has also posted his XRP rewards card that he was holding while wearing an XRP shirt and belt as well as drinking at XRPresso.
BlackRock snaps up $314 million in Ethereum despite crypto market dip
Institutional interest in Ethereum remains strong despite market slump.
- Institutional move. BlackRock purchased $314 million worth of ETH on Aug. 26
Although the crypto market is down today, institutional interests in Ethereum appear unmoved. While Ethereum has seen its price trade in the red zone for the most part of the day, BlackRock has displayed resilience with another major ETH buy activity, according to data from Arkham Intelligence Firm.
In an attempt to stack up on the second-largest cryptocurrency by market capitalization for lesser costs, BlackRock has purchased large amounts of Ethereum worth $314 million on August 26th.
- Ethereum ETF rise. BlackRock’s iShares Ethereum ETF continues to lead institutional adoption.
While BlackRock’s iShares Ethereum ETF is renowned for leading the broad crypto ETF community in its steady accumulation of Bitcoin and Ethereum, the move comes as no surprise. However, the timing of the massive ETH buy from BlackRock has got the crypto community talking.
Whale sends $106M in DOGE to Binance
Dogecoin whale stacks up 800 million DOGE on Binance.
- Market concern. Large inflows to exchanges often spark speculation about a potential sell-off or liquidity shift
500,000,000 DOGE, the equivalent of over $106 million was sent straight into Binance's hot wallet from an unidentified wallet. When such a large amount of tokens enters an exchange wallet, especially the world's biggest one, questions pop up as to whether it is setting up for a sell-off, a liquidity move between entities or simply someone done holding all these coins and deciding to dump them.
- Binance mpact. With this transaction, Binance’s DOGE wallet now exceeds 820M DOGE.
The mysterious whale has overseen inflows of over 12 billion DOGE and outflows of nearly 10 billion DOGE, while still holding over 24 billion coins, even after today's transaction. Binance’s Dogecoin address, on the receiving end, is already one of the biggest in the DOGE world. The exchange's holdings put it above 820 million DOGE at last check, and this single transfer added more than 2% to its balance.
Dan Burgin
Vladislav Sopov
U.Today Editorial Team