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- Crypto Alpha - 30 November 2024
Crypto Alpha - 30 November 2024
Daily Alpha on All Things Crypto, Web3 and Blockchain
TL;DR
Bitcoin: The Sponge of Excess Cash
Ripple’s RLUSD: Stablecoin Star on the Horizon
Wall Street’s Blockchain Buzz
DOGE ETF: The Inevitable Meme
Tether Keeps the Presses Rolling
Stand With Crypto: Congress Gets the Message
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Alpha of the Day
Bitcoin: The Sponge of Excess Cash
In the past two years, the world economy flooded with an extra $11 trillion in money supply. While some of it got sucked into questionable ventures (looking at you, overpriced avocado toast businesses), Bitcoin and other crypto assets absorbed a solid 10% of this cash tide. That’s $1.1 trillion tucked away in digital ledgers, proving that even when the financial floodgates open, crypto stands ready with its sponge. It’s not just a store of value; it’s a money magnet for the modern age.
Ripple’s RLUSD: Stablecoin Star on the Horizon
Mark your calendars: Ripple might soon get the green light from the New York Department of Financial Services to launch its RLUSD stablecoin. If all goes as planned, this shiny new digital asset could make its debut on December 4. A stablecoin backed by Ripple on its own blockchain sounds like a match made in fintech heaven. Forget advent calendars—this is the countdown crypto enthusiasts are marking off for December.
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Wall Street’s Blockchain Buzz
The U.S. stock markets decided to flex today, with all three major indexes opening in the green. The MVPs of this rally? Blockchain stocks. These tech darlings carried the gains on their virtual backs, reminding everyone that even traditional finance loves a good blockchain comeback story. Who said decentralized tech and Wall Street couldn’t be besties?
DOGE ETF: The Inevitable Meme
The only thing more certain than death and taxes? A DOGE ETF application. Analysts say it’s not a matter of if, but when. The meme coin that once started as a joke has wiggled its way into serious investor talks, and Wall Street might just have to embrace its inner Shiba Inu. Move over, serious financial products; DOGE is here to bark up the ETF tree.
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Tether Keeps the Presses Rolling
Tether has been busy flexing its printing prowess, adding another 1 billion USDT to its total. Since November 8, the stablecoin giant has minted a jaw-dropping 14 billion USDT. It’s not just about keeping up with demand—it’s about making a statement: in Tether’s world, liquidity is king, and everyone else is just holding coins.
Stand With Crypto: Congress Gets the Message
The Stand With Crypto campaign has racked up an impressive 276 supporters in the U.S. House of Representatives. That’s more than half of Congress! While it’s rare for lawmakers to agree on anything, it seems crypto is bridging the political divide. Forget elephants and donkeys; this is about digital wallets and decentralized dreams.
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— WAGMI | Crypto, DeFi & Web3 News (@wagmiglobal_)
12:52 PM • Nov 30, 2024
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