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Large-scale financing, RLUSD surpassing 1 billion, and a partnership with Mastercard—these three developments have created a positive feedback loop and may signal Ripple's transformation from the concept of a “blockchain-based SWIFT” to a revenue-driven global settlement infrastructure.
Stream Finance Implosion and Systemic Crisis
The market may have entered a mild bear market.
Bitcoin has fallen below the short-term holders’ cost basis ($112,500) to around $100,000, indicating weakened demand and the end of the bull market. The market is now in a mild bear phase, with long-term holders continuing to reduce their positions, institutional capital outflows, deleveraging in the derivatives market, and a defensive stance prevailing in the options market. Summary generated by Mars AI. This summary is produced by the Mars AI model and its accuracy and completeness are still being iteratively improved.
- 06:12Bitget wins "Best Cryptocurrency Exchange" at the 11th Benzinga Fintech AwardsAccording to ChainCatcher, at the 11th Benzinga Fintech Awards held in New York, Bitget received the "Best Cryptocurrency Exchange" award. This award is one of the most influential annual recognitions in the fintech sector, aiming to honor platforms and innovative achievements that drive the future development of the industry. This year's list of winners also includes several traditional financial institutions and industry enterprises, such as Interactive Brokers, TradeStation, Ramp, WisdomTree, Best Egg, and Groundfloor. Bitget CEO Gracy Chen stated, "Receiving the 'Best Cryptocurrency Exchange' award from Benzinga is an important milestone for Bitget in advancing our Universal Exchange strategy. We aim to provide users with an efficient experience of connecting crypto assets, tokenized stocks, AI tools, and global derivatives within a single account. This recognition also reflects the industry's attention to and affirmation of the multi-asset trading direction."
- 05:57Vanguard: The Fed's rate cuts may be smaller than Wall Street expectsAccording to ChainCatcher, citing Jinse Finance, global asset management giant Vanguard stated that due to the surge in large-scale capital expenditures in the field of artificial intelligence driving sustained economic growth, the Federal Reserve's rate cuts are expected to be much lower than the current general expectations on Wall Street. Sara Devereux, head of fixed income, expects the Federal Reserve may cut rates once or twice more next year, a forecast that stands in stark contrast to the market's general bet of three to four rate cuts by the end of 2026.
- 05:57A whale goes 3x long on BTC and ETHChainCatcher news, according to on-chain analytics platform Lookonchain, the address "stayawayfromridiculouslyprettygirls.eth" opened a 3x long position with 120.93 BTC (10.4 million USD) and 988.23 ETH (2.78 million USD).