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How Could a Ripple IPO Impact the Crypto Market?

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A Ripple IPO prospect has been the talk of the crypto market for several months. Such an IPO would add to Ripple’s legitimacy and provide a route for more mainstream investors to join in. An IPO could increase Ripple’s financial resources, but above all, the price of XRP may rise because increased visibility would engender investor confidence.

Amidst numerous speculations, a business consultant and Web3 expert, Jake Claver, commented that an IPO would significantly affect Ripple Labs. His statement explained that such an IPO for Ripple Labs may shake the world like Amazon’s IPO did in 1997.

On the other hand, the company’s CEO, Brad Garlinghouse, explained that while a public listing has been discussed, Ripple has little to no need to pursue such an IPO. He added that the company is strong in cash and is optimistic regarding its ongoing case with the United States SEC. 

Ripple IPO Could Transform Fintech, Just Like Amazon Did

There has been much speculation in the cryptocurrency community over a Ripple IPO, which business consultant Jake Claver claims would perhaps not have a different effect from that wrought by Amazon’s IPO in 1997.  

Going public in the wake of the Ripple case against the SEC could be even more significant validation for the company and a differentiation factor from other crypto companies. This is similar to how the Coinbase IPO drew attention to the industry in 2021. It may also incite other crypto companies to follow suit, which would signify greater maturity in the market.

First and foremost, Claver said this will position the company better in both the blockchain and fintech verticals. To this end, Ripple has been, in his words, “an award-winning company that provides cross-border payment solutions to over 300 financial institutions of all kinds all over the world”. Like Amazon, once Ripple IPO happens, the company can easily venture into other spaces.

He noted that when Amazon went public, it raised $54 million to expand its book offerings into electronic goods, clothing, and cloud computing services. Drawing from the example of Ripple, Claver cited that funds gathered from an IPO could achieve function expansion and entry into new markets for blockchain.

He also said that Ripple might use the proceeds from a potential IPO to make strategic acquisitions of companies, similar to Amazon’s acquisition of Whole Foods and Twitch. Claver pointed to Ripple’s acquisition of Metaco, which extends its institutional-grade digital asset custody services, as one that would put it on its way to making a more decisive play for significant market share.

Will Ripple IPO Drive Blockchain Adoption?

Money from a Ripple IPO might also further accelerate the company’s research and development, leading to advancements on the XRP Ledger recently mentioned even by Elon Musk. The IPO would also help new uses such as smart contracts, tokenized assets, and CBDCs—a strategic move that could place Ripple at the heart of considerable growth and innovation in the changing face of finance.

Claver underlined how such a direct listing or IPO would provide another strong foothold for Ripple in the blockchain and fintech sectors, alluding to Ripple’s “more than 300-strong network of financial institutions currently leveraging its cross-border payment solutions.”

He added that a Ripple IPO would finally give the company the war chest to scale business operations, expand into more markets, and execute strategic acquisitions, just as Amazon had done by buying Whole Foods and Twitch to diversify its portfolio further.

Garlinghouse: Ripple is Strong even without an IPO

Be that as it may, recently, CEO Brad Garlinghouse commented on the company’s future regarding the current regulatory landscape, crypto ETFs, and even a Ripple IPO. He firstly clarified that while a public listing has been discussed, Ripple has little to no need to pursue such an IPO given its strong cash positioning and ongoing case with the United States SEC.

He said that the challenges faced by the current SEC position on XRP downplayed the agency’s moves as overreaching despite the recent court ruling cemented that XRP itself was not a security. At the same time, he hinted that a change in leadership at the top of the SEC might lead to better regulations for the industry.

Garlinghouse was also very optimistic about the future of crypto-based ETFs He said such products, like the XRP ETF, would not be left in the backwater for long. Instead, they would come into the mainstream, much like Bitcoin ETFs have done. He cited rising interest in crypto-based ETFs as evidence of sector maturity and predicted further developments in this area.

Speaking about Ripple’s  stablecoin, he indicated that their frequent use of USDT and USDC influenced the launch of RLUSD. He also suggested that the SEC’s ongoing appeal against Ripple is a tactic to obstruct the approval of XRP ETFs.

While the company still relies on other stablecoins for on-demand liquidity services, it plans to transition towards using RLUSD. Part of the big vision is a deeper positioning of Ripple’s stablecoin within its chain of payments meant to further expand functionality and liquidity within the XRP ecosystem, including the Ripple IPO one day.

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Teuta

Teuta is a seasoned writer and editor with over 15 years of experience in macroeconomics, technology, and the cryptocurrency and blockchain industries. Starting her career in 2005 as a lifestyle writer for Cosmopolitan in Croatia, she expanded into covering business and economy for several esteemed publications like Forbes and Bloomberg. Influenced by figures like Don Tapscott and Bruce Dickinson, Teuta embraced the blockchain revolution, believing crypto to be one of humanity’s most crucial inventions. Her fintech involvement began in 2014, focusing on crypto, blockchain, NFTs, and Web3. Known for her excellent teamwork and communication skills, Teuta holds a double MA in Political Science and Law, enjoys punk rock, chablis, and has a passion for shoes.

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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Pi Network Faces Community Backlash, Is Pi Coin Price Heading to Zero?

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Pi Network seems to be losing ground as Pi Coin price continues to face strong selling pressure, dropping another 4% and slipping under $0.70. Furthermore, the PI trading activity in the ecosystem is also dropping, showing that the investors’ euphoria is fading away quickly. Also, the PI token unlocks happening over the past week and so have led to a negative sentiment.

Pi Network Faces Backlash Despite PiFest Announcement

Earlier today, the Pi Core team announced that the inaugural PiFest on the Open Network saw record participation, with over 125,000 registered sellers—including more than 58,000 active sellers—and 1.8 million Pioneers utilizing Map of Pi, while highlighting Pi’s real-world utility worldwide.

However, the community doesn’t seem to be pleased by this. Commenting on the reality of the PiFest, Dr. Altcoin noted: “Since the PiFest started, Pi trading activity in the Eco-system has been at its lowest. The only trade was selling Pi for Cash”. While slamming the core team further, Dr. Altcoin stated that the Pi co-founders “seem out of touch with the realities of the everyday Pi Community”.

Other community members have slammed Pi Core Team’s communication approach, stating that it has remained unchanged since the enclosed mainnet phase. Critics like Dao world argue that the monthly updates are too predictable and insufficient for sustaining a large and engaged community.

Community members are now advocating for a more transparent communication strategy, with calls for a new leadership figure who has a deep understanding of cryptocurrency.

Pi Network Reduces Base Mining Rate by 1.18% This Month

The Pi Network’s base mining rate has dropped by 1.18% this month, now standing at 0.0029030 π per hour. This adjustment continues the network’s trend of gradual mining rate reductions. Some community members speculate that the declining interest in mining may be linked to Pi’s current low trading value on exchanges.

Despite talks of the Pi Network listing on top crypto exchanges like Binance and Coinbase, it hasn’t fructified so far. However, the BTCC exchange stated that it has added the cryptocurrency for spot trading, but it failed to add any upward momentum to the Pi coin price.

Where’s Pi Coin Price Heading Next?

Over the past seven days, the Pi coin price has tanked by 20%, with the next crucial support levels at $0.60. Furthermore, the correction under $0.70 comes with heavy selling pressure as daily trading volumes tanked 52% to $148 million.

Pi Network is currently forming a classic falling wedge pattern, testing the lower boundary near $0.687. A confirmed breakout with volume above the $0.71–$0.72 range could signal a bullish move, potentially pushing the price toward $0.75–$0.78, where key resistance levels lie.

Source: Crypto Sat

Some market analysts still have the hope that PI cryptocurrency could reverse the trajectory to hitting highs of $3 and above.

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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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PENDLE Price Jumps 8% Today Amid Huge Whale Accumulation

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PENDLE price has led the broader market gains this Wednesday, pumping nearly 8% amid bullish developments. Recent whale metrics indicated that large-scale investors bought roughly $8 million of the token, whereas a crypto exchange behemoth also listed it previously. In an upshot, traders and investors are eyeing more gains in the asset’s price due to recent advancements that underscore rising demand for the crypto.

PENDLE Price Jumps 8% Amid Bullish Whale Transactions

As of press time, PENDLE price witnessed an 8% uptick in value and exchanged hands at $3.05. The crypto’s 24-hour low and high were registered as $2.84 and $3.07, respectively.

On a keynote, the rising price action aligns with the heightened buying pressure bought by whales in recent days. The latest data from tracker Lookonchain showed that whales bought roughly $8 million worth of coins in the past 5 days. Per the data, five newly created wallets collectively accumulated the aforementioned amount.

Here Are The PENDLE Whale Addresses Captured:

-0x21fBA58b20f62397c015b1f5a15f742ad430dFA
-0x2EB48c60F4ea75fa0a0Ff5BB017EBD9f5981b8F5
-0x11DFEDf01B3FA824BbCB138159B2e6AFE43692a3
-0x981D8856f572Fb076626265114EAD67697dA5501
-0x6478C8681ADC3E7a0C17Aa1E1F0Ff16d1A61a8f6

Why Are Whales Accumulating?

Meanwhile, the rising whale accumulations and PENDLE price upswing fall in line with another bullish development. Crypto exchange behemoth Coinbase unveiled a listing for the token at the end of March last month.

As a result, large-scale investors are hoarding massive amounts of the token, aiming to capitalize on emerging market opportunities.

Historically, listings on top crypto exchanges usually usher a bullish price action as they substantially increase an asset’s market exposure, thereby welcoming more funds from investors. CoinGape previously reported another similar chronicle, wherein cryptos BROCCOLI and TUT price rallied with their listings on Binance. Similarly, the Coinbase listing appears to be a vital catalyst for driving the whale frenzy and recent price upswing.

Can Bullish Developments Fuel Bull Run Ahead?

Usual market sentiments continue to tilt in favor of bulls, given the Coinbase listing and rising whale accumulations. Further, a renowned crypto market trader has poured additional optimism surrounding the coin’s future price action with his bullish prediction.

Analyst AMCrypto recently took to X, revealing that PENDLE price is forming an “inverse head and shoulder pattern.” This pattern formation suggests that a potential trend reversal from bearish to bullish is brewing amid bullish advancements.

PENDLE price chartPENDLE price chart
Source: AMCrypto, X

In light of this dynamic, the analyst predicts that a break above $3 paves the way for a massive rally ahead. As mentioned above, the coin is currently trading above this price level. As a result, market watchers continue to weigh further bullishness on the asset’s long-term price prospects.

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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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Will BNB Price Rally to ATH After VanEck BNB ETF Filing?

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Asset manager VanEck has registered for a proposed BNB exchange-traded fund (ETF), the latest among the list of its new crypto ETF filings. As a result, the trading volume for BNB Coin has shot up by 42% to more than $2.12 billion, as analysts are now closely watching for a BNB price rally to all-time highs.

In BNB Price Ready for A Mega Rally?

BNB Coin has performed relatively well over the past month compared to Bitcoin and other altcoins. While BTC and top altcoins like ETH, SOL, XRP saw double-digit losses in March, BNB Coin is down just 1% on the monthly chart. After a strong consolidation of around $610 levels, the BNB price could be eyeing a strong breakout to new all-time highs.

BNB Burn and Pascal Hardfork Offer Support

BNB Coin features a real-time burn mechanism that permanently removes a portion of gas fees from circulation. Over the past seven days, 951.85 BNB worth $571,747.74 was burned, contributing to a total burn value of nearly $160 million, as per data from BNBBurn.

BNB’s price recently gained momentum following the implementation of the Pascal hard fork, which enhanced its compatibility with Ethereum. The network is preparing for additional hard forks this month and in June, aimed at further improving transaction speeds.

Additionally, BNB Chain is gaining a lot of popularity among meme coins, adding support for Mubarak meme coin, CZ’s Dog BROCOLLI meme coin, and others.

Looking at the technical setup, the BNB price chart shows that the altcoin is forming a cup-and-handle pattern, along with an ascending channel pattern formation, as shown in the image below.

Source: TradingView

On the other hand, BNB price is trading above the 50-day moving average, which is a positive indicator. But for the altcoin to kickstart a rally to its all-time high of $790, it must first complete the handle formation at $662, and give a breakout above that level.

As of press time, BNB Coin is trading at $603 levels with its daily trading volume up by 42%, surging past $2.12 billion. Furthermore, the Coinglass data shows that the BNB options trading volume is also up by 46%.

VanEck Files for Spot BNB ETF

$115 billion asset manager VanEck filed for the spot BNB ETF in Delaware on Tuesday, April 1, which could serve as a major catalyst for the BNB Coin rally ahead. The proposed BNB ETF would follow the price of BNB, the fifth-largest cryptocurrency by market capitalization.

Apart from BNB, VanEck has already submitted crypto ETF applications for Bitcoin, Ether, Solana, and Avalanche. VanEck filed for SEC approval last month to launch the first AVAX ETF, building on its success with spot Bitcoin and Ethereum ETFs.

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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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