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So, guess what? Beast Holdings, the operation behind Jimmy “MrBeast” Donaldson (the man who gives away cars like it’s a weekend hobby), is now dabbling in crypto. He’s filed a trademark for “MrBeast Financial” – and the crypto world is losing its mind. Well, probably.
According to the ever-vigilant BeInCrypto data, XRP leapt more than 4% in the past 24 hours, settling at a regal $2.38, rising from a measly $2.25 low on October 17. And for those keeping track, that was its most pathetic price point since the summer, when the birds were chirping and prices were soaring-sort of.
According to the sharp-eyed folks over at XRPScan (they don’t miss a trick, those lot), XRP’s “burn rate”-that’s the amount of XRP getting torched as transaction fees-plummeted from a chubby 616 XRP on October 17th to a measly 178 XRP on October 18th. That’s a drop of a whopping 71.26%! Talk about going cold turkey on burning, eh?
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Last Friday, the market trembled like a leaf in a storm, and this Friday, it continues its dance with the abyss. Behold the chart, a grim mural of despair, where BTC’s price wavers like a drunkard’s step. 🌊
October started as a farce and turned into a tragedy. Bitcoin, that digital Prometheus, soared to $126,000, only to be cast down by the gods of liquidity and leverage. Glassnode, those modern-day soothsayers, noted that Bitcoin “broke through the $114k-$117k supply zone,” a triumph as fleeting as a Russian summer. ☀️❄️
The Bitcoin exodus amounted to a rather regrettable $366.59 million. BlackRock’s IBIT, predictably, bore the brunt of it at a dizzying $268.61 million. One wonders if their analysts are currently being subjected to a bracing lecture. Fidelity’s FBTC and Grayscale’s GBTC also contributed to the melancholy, shedding $67.37 million and $25.04 million respectively. Valkyrie BRRR, bless their modest hearts, managed only a paltry $5.57 million. Not a single ETF showed an inclination to gain anything. The trading volume, however, reached a somewhat frantic $8.20 billion, suggesting a considerable amount of panicked activity. Total assets are, at $143.93 billion, a perfectly respectable 6.75% of the Bitcoin market cap – though whether that’s cause for celebration or lament is a matter for philosophers. 🤔
Lordy, that 20% drop was a sight to behold! Plummeted like a rock, it did. But then ZEC found itself restin’ right on top of some fancy Fibonacci support at $201.68. The RSI, that fella, dipped all the way down to 37, which means it was cheaper’n a used mule. But wouldn’t you know it, folks started pickin’ it up ’round the 38.2% retracement (fancy talk for a good buyin’ opportunity), sendin’ ZEC climbin’ a respectable 7.16% in just one day! Now it’s holdin’ steady around $216.15, with a market cap of $3.52 billion. It’s like watchin’ a cat with nine lives, I tell ya. 😹
The whisper of another Fed rate cut floated across like a prevailing wind, painting broad strokes of opportunity on the canvas of market uncertainty. Three altcoins, quietly cradled in the arms of these giants, were seeing an influx-a sort of secret meeting, if rumors of whispers were to be believed.
Apparently, some very important people (we’re talking ‘large holders’, naturally) decided to offload $74 million worth of the stuff. Probably to fund their collection of vintage rubber ducks. A perfectly reasonable investment, one might argue. And all this happened while everyone was busy panicking about tariffs. Honestly, it’s like the world is actively trying to make less sense.
