XRP goes big in New York
The top U.S. exchange, Gemini, is making the most of its XRP product with a new billboard in the heart of the Big Apple.
- "Spend Dollars, Earn XRP." That is the message behind the exchange's massive new billboard in the USA's biggest city.
Founded by the Winklevoss brothers, the U.S. cryptocurrency exchange has really upped its advertising game for its new XRP card, launched earlier this week. As U.Today reported, this helped Gemini briefly overtake its biggest competitor, Coinbase, on Apple's App Store.
- Success is questionable. Gemini cards received a mixed response from the XRP community.
Some XRP enthusiasts criticized Gemini's solution for not really bringing anything new to the table. Despite the negativity, a bunch of Ripple executives and CEO Brad Garlinghouse in particular were not against showing off their XRP cards, which were launched in partnership with the enterprise blockchain company.
Ignoring the backlash from the community, the latest ad campaign shows that Gemini is serious about staying competitive in the U.S. crypto exchange market and sees XRP as a valuable asset in its efforts to compete with Coinbase, Kraken and Binance U.S.
Star investor Ray Dalio reveals why crypto is real alternative to dollar
The hedge fund veteran says the clock is running out on what he calls the "big debt cycle." Interestingly, cryptocurrencies — Bitcoin in particular — are at the center of attention, just as Satoshi Nakamoto designed it to be in 2008.
The end of the debt cycle. Dalio believes the long era of easy borrowing is nearly over and central banks must make difficult decisions.
The star investor points to crossroads. If banks step back, it will be the natural market forces that push interest rates higher. That could cool inflation. But it would push households and companies into default as debt would become harder to carry.
The flip side is printing more money through quantitative easing, which might keep the system alive but chips away at trust in fiat, and Dalio warns of a loop where rising debt forces even more money creation, eating into the dollar's credibility as a safe store of wealth.
Is Bitcoin the solution? Ray Dalio has an answer. It all started in 2021, when once a fierce cryptocurrency critic Dalio admitted that he had purchased some Bitcoin.
He still prefers gold but is also open to crypto, recently saying up to 15% of a portfolio could go into Bitcoin or gold for the best risk-return mix. Some may see it as a far cry from his earlier stance, but the sign that hard-capped assets like BTC are moving up the ladder in Dalio's playbook is evident.
Dogecoin rockets 617% in liquidation imbalance as DOGE bulls take $7 million hit
Dogecoin, the "meme coin king," has started September with $8.11 million in liquidations, hitting bulls the hardest as the DOGE price plunges back to 21 cents.
What happened? A whopping $8.11 million in liquidations were accounted for by Dogecoin in the last 24 hours, with $6.98 million coming from longs, while shorts lost just $1.13 million — a stunning 617% liquidation imbalance.
According to CoinGlass, this DOGE wipeout was part of a wider $371 million flush-out across the entire crypto market. It was the long positions that suffered the most, showing how fragile all the optimism was. In an evident display of how risky leverage can be in historically choppy September conditions, bulls took the biggest hit.
DOGE price levels to watch. Dogecoin has dropped almost 3% to around $0.21 from its Aug. 31 peak of $0.221, but what is actually next for the meme coin?
As market analysts point out, the $0.208 zone has been tested five times and is now seen as a critical support level for the coin. On the upside, $0.225 — a price that lines up with the 50-day moving average — stands as the first major resistance. If Dogecoin breaks above that, a stronger recovery might be in the cards. But there's a chance that if it keeps being rejected, there could be more selling pressure.
September promises to be busy. Usually, this month is one of the weakest for crypto, but will 2025 be any different for Dogecoin?
There are quite a few checkpoints that might have the answers you are looking for. The first thing to watch is the Federal Reserve's policy meeting on Sept. 16-17, which is likely to have a big impact on crypto prices.
With the big picture still looking totally uncertain, it seems like Dogecoin's next big move might have more to do with how global markets react to the Fed's message than how much retail investors are feeling it.
Dan Burgin
Vladislav Sopov
U.Today Editorial Team