A SPAC, in case you’ve been living under a rock, is essentially a shell company that’s already listed publicly. This magical creation allows companies to skip the usual IPO process and just slide into the stock market like a kid into a candy store. All while avoiding the pesky problem of SEC regulations and the dread of going through a drawn-out public offering. Gotta love it, right?
According to CoinMarketCap data, RLUSD now has a circulating supply of 501.24 million. Its market capitalization has also increased by 3.28% to $501.21 million. Not bad for a stablecoin that’s still relatively new to the game 🎉. It’s worth noting that the stablecoin market is dominated by industry giants like Tether (USDT) and Circle (USDC), but RLUSD seems to be holding its own.
According to a report by the market analytics platform CryptoQuant, the correlation between a weak DXY and a robust BTC has been a recurring theme, much like the punchline to a well-told joke.
Because life is chaos and so, naturally, is investing, BeInCrypto has decided to run the ruler over two more meme coins alongside BANANAS31—just in case Zumba with banana money isn’t enough for you.
According to a report that made its way to Bloomberg, BlackRock’s Investment Institute strategists have upgraded their view on European government bonds from slightly underweight to neutral. They’re practically giving US government debt the cold shoulder, comparing it to a less attractive cousin. 🤷♂️
Lubin, who is also the chairman of SharpLink Gaming, said that Ether treasuries are “a great business to run.” He also claimed that “it’s going to be critical to enable the supply-demand dynamics of Ether to right-size as we build more and more applications.”
SHIB, the world’s second-largest meme token by market value, traded above the 23.6% Fibonacci retracement of the May-June sell-off as of writing, up over 1% on a 24-hour basis, according to CoinDesk data.
Zebec Network (that’s ZBCN for folks who like their names short and their wallets fat) pumped 20% in just 24 hours – all on word their leadership’s been summoned across The Pond to drop wisdom on a crowd of lawmakers, rule-makers, and folks who’ve likely never sent a crypto transaction in their lives. COO Simon Babakhani and the man wrangling mergers, Neal Padhye, are set to holler about compliance, whistleblowing, and why blockchains are the moral backbone of civilization (or some such business).
The new decree proposes that crypto firms—previously cast into the wilderness with gamblers and night owls—should now be welcomed as “venture companies.” That’s right: paradise regained, or at the very least, an official badge, tax loopholes, government handouts, the occasional subsidy, and perhaps even a coffee with an approving bureaucrat. If this comes to pass, tomorrow’s crypto startup founder may not have to hide his ledger under the floorboards. He can now dare to innovate in broad daylight, cheered on by the watchful gaze of state inspectors. 📚
Addressing his followers, the analyst opened by noting that ADA’s weekly chart “looks so similar” to the multi-year pattern that preceded Ethereum Classic’s vertical move in early 2021. “They have the same market makers,” he asserted, pointing out that Cardano founder Charles Hoskinson had early involvement in both projects. “It’s almost like a cheat code for this thing.”
