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Archax Launches State Street, Fidelity, LGIM Tokenized Funds

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XRP News: Ripple partner Archax on Wednesday said it has added State Street, Fidelity International and Legal & General Investment Management (LGIM) funds to its tokenized RWA offerings. The tokenized funds will initially be available on XRP Ledger (XRPL), Hedera and Arbitrum blockchains. Traders reacted immediately as XRP price saw a 4% jump within hours.

XRP News: Archax Announces State Street, Fidelity, LGIM RWA Funds

Archax expanded its tokenized RWAs with State Street, Fidelity International and Legal & General Investment Management (LGIM) funds, as per an Archax Ltd blog on November 20. The company, a Ripple partner, is the first regulated RWA exchange in the UK.

The first funds to be listed on the Archax platform in tokens are State Street USD/GBP/EUR Liquidity LVNAV Funds, the Fidelity ILF USD/Sterling/Euro Funds and the LGIM Sterling/USD/Euro Liquidity Funds. Initially, the beneficial ownership tokens will be launched on Hedera Hashgraph, XRPL and Arbitrum.

“Tokenised real-world assets, and in particular funds, are really gaining momentum,” said Archax CEO Graham Rodford. “The industry sees the path to additional distribution and liquidity that tokenisation brings, as well as the new innovative use cases like collateral transfer.”

Ripple partner added that these money-market funds (MMFs) tokens represents the holdings of clients in such funds. Here’s the list of top RWA crypto projects in 2024.

XRP Price Jumps 4%

In response to the major Archax news, XRP price jumped 4% in a few hours. The price is currently trading at $1.14, with a 24-hour low and high of $1.06 and $1.14, respectively.

In June, Ripple and Archax partnered to bring hundreds of millions of dollars of tokenized real world assets (RWAs) onto the XRP Ledger (XRPL). Ripple CEO Brad Garlinghouse said it will help establish the XRPL as one of the leading blockchains for RWA tokenization. “I only expect this to grow exponentially in the future,” he added as financial institutions are actively tokenizing their RWAs on XRPL and other Layer-1 blockchains.

Meanwhile, HBAR and ARB tokens did not witnessed significant price gains after the announcement. HBAR price fell 12% to $0.1264 today and ARB price dropped 2% to $0.693.

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Varinder Singh

Varinder has 10 years of experience in the Fintech sector, with over 5 years dedicated to blockchain, crypto, and Web3 developments. Being a technology enthusiast and analytical thinker, he has shared his knowledge of disruptive technologies in over 5000+ news, articles, and papers. With CoinGape Media, Varinder believes in the huge potential of these innovative future technologies. He is currently covering all the latest updates and developments in the crypto industry.

Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.





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Bitwise Submits Filing Joining VanEck, Canary Capital

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2 hours ago

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November 21, 2024

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Asset manager Bitwise Invest is the latest to submit its documents for filing spot Solana ETF. With this filing, Bitwise is now in a race with other market players like VanEck and Canary Capital to bring the SOL ETFs to the market. The filing comes at a time when the SOL price is just 10% away from hitting a fresh all-time high.

Bitwise Files for Spot Solana ETF

According to the State of Delaware’s Division of Corporations website, Bitwise has currently registered a statutory trust for its proposed Solana exchange-traded fund (ETF). Notably, this is just registration and the asset manager needs to do more groundwork filings with the U.S. Securities and Exchange Commission (SEC).

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To join VanEck and Canary Capital in Solana ETF race, Bitwise needs to submit the 19b-4 and S-1 forms to the US SEC. However, the asset manager has been steadfast in its approach to crypto ETFs, with Bitcoin ETF (BITB) and Ethereum ETF (ETHW) already trading on Wall Street. Last month, the asset manager filed for the spot XRP ETF.

With Donald Trump set to take charge of the White House in January 2025, the euphoria for spot Solana ETF has increased tremendously. Under the Trump administration, there’s renewed hope for a crypto regulatory framework and more clarity. The Trump-Vance transition team is holding discussions with crypto industry players to set up a White House post that will look into crypto policies.

Demand Grows for XRP, HBAR, DOGE ETF

Citing this wave of developments in the crypto ETF space, ETF Store President Nate Geraci said that there are ongoing spot ETF filings for several major cryptocurrencies, including Solana (SOL), Ripple’s XRP, and Hedera (HBAR). Last week, Canary Capital submitted the first filing for a spot HBAR ETF.

He also speculated that ETF issuers could expand their offerings further to other assets like Cardano (ADA) and Avalanche (AVAX). Commenting on this, Bloomberg’s senior ETF analyst Eric Balchunas stated that he expects a DOGE ETF filing to arrive by December 31, 2024. This comes amid the mega Dogecoin price rally so far in November.

The Solana price remained firm at its crucial resistance level of $240. Market analysts are predicting a new all-time high for SOL with a rally past $300 by the year-end. Currently, it’s a tough fight between the bulls and the bears, as the market awaits another catalyst for further rally amid anticipation for spot Solana ETF.

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Bhushan Akolkar

Bhushan is a FinTech enthusiast with a keen understanding of financial markets. His interest in economics and finance has led him to focus on emerging Blockchain technology and cryptocurrency markets. He is committed to continuous learning and stays motivated by sharing the knowledge he acquires. In his free time, Bhushan enjoys reading thriller fiction novels and occasionally explores his culinary skills.

Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.





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SHIB Burn Rate Surges 2200%, Shiba Inu Eyes Parabolic Rally Ahead?

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3 hours ago

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November 21, 2024

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The latest SHIB burn rate data has once again sparked noteworthy bullishness surrounding the renowned dog-themed meme token, Shiba Inu. The token’s burn rate witnessed a whopping 2200% uptick on Thursday, amid reports of a potential rally in the asset’s price ahead. For context, recent on-chain metrics sparks optimism with investors anticipating a parabolic rally ahead for the meme coin, primarily in light of the broader sector’s ongoing bull run.

SHIB Burn Rate Pumps 2200% Delivering Massive Blow To Supply

According to an X post from the official tracker Shibburn on November 21, the SHIB burn rate blew up 2225% intraday as 14.58 million coins were destroyed. This massive burn rate surge resulted in a massive hit to the meme token’s circulating supply.

Per the data, the total supply at the time of reporting was evaluated as 589.26 trillion tokens. Simultaneously, it’s noteworthy that the weekly burn data pointed out that 50.06 million coins were burnt in the past seven days.

SHIB Burn RateSHIB Burn Rate
Source: Shibburn, X

Overall, the massive burning chronicles have bolstered market sentiment for the leading dog-themed meme coin as the supply continued to shred. Notably, the SHIB burn mechanism aims to kill the token’s excessive market supply by sending tokens to a null address. In turn, the token eyes a bullish market sentiment on account of the law of supply and demand as these null-address tokens can never be used again.

Shiba Inu Parabolic Rally Ahead?

However, despite the abovementioned burn rate surge, Shiba Inu price fell 2% intraday and is currently sitting at $0.00002386. The token’s 24-hour low and peak were $0.00002311 and $0.00002478, respectively. Although this waning movement caused apprehension among investors, it’s worth mentioning that the monthly chart indicated gains worth 30%. This broader bullish trajectory further falls in line with the monthly SHIB burn rate data, as 192.78 trillion tokens were burnt this month.

Simultaneously, a recent SHIB price analysis by CoinGape Media has added to market optimism surrounding the token. A price forecast for the crypto spotlights key reasons why investors should not sell the coin, especially amid a broader meme coin bull market.

Moreover, it’s also worth mentioning that recent on-chain data indicates that the meme sector is poised to witness further rally ahead. This report has also sparked optimism over a continuing rally for top meme coins like SHIB, DOGE, PEPE, and others. Notably, meme coins like PEPE and DOGE have also been up by 90%-169% over the past month.

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CoinGape comprises an experienced team of native content writers and editors working round the clock to cover news globally and present news as a fact rather than an opinion. CoinGape writers and reporters contributed to this article.

Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.





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BTC Reaches $97K, Altcoins Gains

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4 hours ago

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November 21, 2024

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Cryptocurrency Prices Today: Bitcoin touched a new all-time high of $97K, while major altcoins saw slight increase from the last day. Meme coins showed mixed trends; however, FLOKI emerged as the top gainer with a 16% jump in the last 24 hours.

The global cryptocurrency market cap reached $3.16 trillion as prices surged today. Trading volume remained steady at $184 billion in the past 24 hours. Here’s an overview of the top crypto by market cap and their performance on November 21.

Cryptocurrency Prices Today: BTC Hits New ATH

Bitcoin soared to a new all-time high, reaching $96K. It maintained its recent strength, breaking the $87K-$93K range. Meanwhile, major altcoins like XRP, ETH, and SOL showed little movement in the last 24 hours, reflecting a mixed market sentiment.

FLOKI became the top performer among meme coins with a 16% surge. However, other meme coins showed declines, struggling to keep up in the past day.

Bitcoin Price Today

Bitcoin (BTC) is trading near $97,000 reflecting a 5% increase from the previous day. Its 24-hour low and high are $91,981 and $97,000, respectively. The market cap stands at $1.91 trillion, with a 24-hour trading volume of over $89 billion and a dominance of 60.63%.

According to Sosovalue data, BTC ETFs recorded an inflow of nearly $750 million on Wednesday. BlackRock (IBIT) saw $627.7 million in inflow.

Ethereum Price Today

Ethereum (ETH) is trading at $3,072, marking a 1% decline over the past 24 hours. Its 24-hour low and high are $3,032 and $3,159, respectively. ETH’s market cap stands at $370 billion, with a 24-hour trading volume of $30 billion and a dominance of 11.88%.

ETH ETFs saw an outflow of $47 million, with the market still awaiting updates from BlackRock and Grayscale. Despite the minor dip, ETH continues to hold a significant share of the market, maintaining its position as the second-largest cryptocurrency by market capitalization.

Solana Price Today

Solana (SOL) is currently trading at $233.90, reflecting a 1% increase in the last 24 hours. Its 24-hour low and high are $230.34 and $242.10, respectively. SOL has a market cap of $111.2 billion, making it the 4th largest cryptocurrency by market capitalization. The 24-hour trading volume stands at $6.41 billion, with a market dominance of 3.57%.

XRP Price Today

XRP price is currently trading at $1.09, reflecting a 2% increase from the last 24 hours. Its 24-hour low and high are $1.0637 and $1.146, respectively. The 24-hour trading volume stands at $6.54 billion. XRP is the 6th largest cryptocurrency by market cap, with a market dominance of 2%.

Ripple-partner Archax added State Street, Fidelity International and Legal & General Investment Management (LGIM) funds to tokenized offerings. The tokenized funds will initially be available on XRP Ledger (XRPL), Hedera and Arbitrum blockchains.

Meme Crypto Prices Today

Dogecoin (DOGE) is down by 1% and trading at $0.3768, with a 24-hour low and high of $0.3665 and $0.3995, respectively. It has a market cap of $55.47 billion and a 24-hour trading volume of $8.06 billion. Dogecoin has surged by 162% in the last week, making it the 7th largest cryptocurrency by market cap.

Similarly, Shiba Inu (SHIB) is down by 2% in the last 24 hours, currently trading at $0.00002372. Its 24-hour low and high are $0.0000231 and $0.00002477, respectively. SHIB has a market cap of $13.93 billion and a 24-hour trading volume of $1.14 billion. The coin’s performance remains stable despite the slight dip.

Top meme coins have also shown dips, with PEPE, BONK, and WIF down by 2% to 14%. However, FLOKI is one of the exceptions, up by 16%, continuing its strong performance in the market.

Top Cryptocurrency Gainers Prices Today

FLOKI Price Today

FLOKI has seen a 16% increase in the last 24 hours, currently trading at $0.0002775. Its 24-hour low and high are $0.0002268 and $0.0002879, respectively. The coin’s 24-hour trading volume stands at $1.21 billion, leading cryptocurrency prices today. FLOKI has surged by 19% over the past week, continuing its strong upward momentum in the market.

Raydium Price Today

Raydium (RAY) is up by 10% in the last 24 hours, currently trading at $5.70. Its 24-hour low and high are $5.202 and $5.827, respectively. RAY has a market cap of $1.66 billion and a 24-hour trading volume of $127 million, reflecting strong trading activity in the past day.

Bittensor Price Today

Bittensor (TAO) is currently trading at $489, up by 6% over the last 24 hours. Its 24-hour low and high are $451 and $503, respectively. TAO has a market cap of $3.6 billion, reflecting its strong performance in the market.

Top Cryptocurrency Losers Prices Today

Goatseus Maximus Price Today

Goatseus Maximus (GOAT) is down by 21% in the last 24 hours, currently trading at $0.9171. Its 24-hour low and high are $0.8605 and $1.174, respectively. The coin has a 24-hour trading volume of $367 million, reflecting the significant volatility in the past day.

Peanut the Squirrel Price Today

Peanut the Squirrel (PNUT) is down by 17% in the last 24 hours, currently trading at $1.133. Its 24-hour low and high are $1.276 and $1.647, respectively, showing a notable decline in its price during this period.

BONK Price Today

BONK is down by 13%, currently trading at $0.00004864. Its 24-hour low and high are $0.00004679 and $0.00005915, respectively. The coin has a market cap of $3.63 billion and a 24-hour trading volume of $2.26 billion.

Besides, BTC and ETH hourly time frame charts show bullish momentum, with both coins up by 2%, sparking further bullish movement in cryptocurrency prices today. The overall trend indicates a massive positive sentiment in the cryptocurrency market, driving optimism for a continued surge in prices today.

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Coingape Staff

CoinGape comprises an experienced team of native content writers and editors working round the clock to cover news globally and present news as a fact rather than an opinion. CoinGape writers and reporters contributed to this article.

Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.





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