XRP Crypto Market Turns Green - Daily Crypto News Digest
Crypto Market Turns Green, Glassnode Predicts Possible Consolidation, and Major Partnerships Unfold
Crypto Market Sees a Green Day
The crypto market is showing signs of recovery today, with a slight improvement from yesterday’s performance. Despite this, the total global cryptocurrency market cap has dipped 0.4% over the past 24 hours, currently sitting at $2.76 trillion. Meanwhile, the daily trading volume stands at $136 billion.
A majority of the top 100 cryptocurrencies by market capitalization are in the green. Leading the gains is Pi Network (PI), which surged 19.5% to $1.61. Celestia (TIA) followed closely with a 17% increase, reaching $3.37. Other notable performers include Story (IP) and Pepe (PEPE), both climbing around 15%.
However, not all tokens joined the rally. Aptos (APT) took the biggest hit, falling 5.1% to $5.08, while Maker (MKR) dropped 4.8%, now trading at $1,063.
Among the top 10 cryptocurrencies, only one saw red today - Tron (TRX), which slid 1.4% to $0.2205. On the other hand, Dogecoin (DOGE) led the gains with a 7.1% rise, trading at $0.1652, while Ethereum (ETH) saw the smallest uptick at 0.4%, reaching $1,862. Bitcoin (BTC) climbed 2.8%, now valued at $81,654.
Glassnode: Bitcoin May Face Prolonged Consolidation or Correction
According to on-chain analytics firm Glassnode, Bitcoin has entered a post-all-time-high distribution phase, characterized by weakened demand and selling pressure from recent buyers at the top.
Glassnode’s Cost Basis Distribution (CBD) heatmap, which tracks supply concentration at different price levels, indicates a lack of significant accumulation since late February. The report highlights that as macroeconomic uncertainties rise, investors appear hesitant to accumulate BTC, reinforcing the idea that confidence plays a crucial role in market behavior.
Adding to the cautious sentiment, the Short-Term Holder Spent Output Profit Ratio (STH-SOPR) suggests that most short-term investors are selling at a loss since BTC dropped below $95,000. The report states that the ongoing downward momentum has triggered panic selling, particularly among newer investors.
However, analysts also point out that such conditions often precede a phase of seller exhaustion, which long-term investors may see as an opportunity to re-enter the market.
Moca Network and Plume Partner to Unlock RWA Yield for 700M Users
A major collaboration is unfolding in the real-world asset (RWA) space. Moca Network, a flagship digital identity platform by Animoca Brands, has announced a partnership with Plume, a Layer 1 blockchain designed for RWA finance.
According to the press release, Moca Network will integrate its AIR Kit digital identity infrastructure into Plume. At the same time, Plume’s Nest staking protocol will provide Moca Network users with access to institutional-quality RWA yield and staking products.
This partnership could significantly expand access to RWA opportunities, with over 700 million addressable users from Moca Network’s ecosystem - including partners like SK Planet, OneFootball, and MyAnimeList - now able to leverage their AIR Kit identity to interact with Plume’s ecosystem.
Moca Network emphasized that its extensive reach, supported by Animoca Brands’ portfolio of over 540 companies, will enhance Plume’s efforts in merging digital identity with real-world asset finance.
The announcement concluded that this partnership aims to redefine the relationship between real-world assets and digital identity in the evolving Web3 landscape.
Ripples (RPLS) Expands to Solana
Ripples (RPLS), a community-driven token originally built on the XRP Ledger (XRPL), is making moves to expand its reach by launching on the Solana blockchain.
According to the project’s announcement, the goal is to introduce RPLS to a wider audience by leveraging Solana’s high-speed and low-cost infrastructure. The expansion aims to increase accessibility, broaden the scope of Ripples’ gaming and entertainment initiatives, and open up more trading opportunities for investors.
Notably, RPLS tokens on Solana and XRPL will function independently, each with its own liquidity pools and market dynamics. Additionally, a portion of the revenue generated from RPLS on Solana will be allocated toward initiatives that strengthen the overall Ripples ecosystem.
Looking ahead, the team is exploring cross-chain interoperability solutions to enhance usability. They are also developing blockchain-powered mobile games, such as Ripples Jump and Ripples Racing, further integrating Web3 mechanics into gaming.
The team stated that their focus remains on technological advancements, strategic partnerships, and community engagement to continue expanding the Ripples ecosystem.
