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Ripple Announces First Tokenized Money Market Fund on XRP Ledger

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5 months ago

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Crypto payments firm Ripple on Monday announced its first tokenized money market fund in partnership with FCA-regulated crypto exchange Archax and UK asset manager abrdn. The tokenized money market fund will be available on the XRP Ledger (XRPL) blockchain. Traders reacted immediately as XRP price saw a 6% jump today.

XRP News: Ripple, Archax Announces abrdn Fund Tokenization

Archax has expanded its tokenized funds offering with UK asset manager abrdn, as per a press release by Ripple on November 25. A money market fund from abrdn is introduced in tokenized form on the XRP Ledger (XRPL). The fund comprises part of abrdn’s £3.8 billion US dollar Liquidity Fund (Lux) fund.

Ripple said is the first tokenized money market fund on the XRPL. This will help establish the leading blockchain for real-world asset (RWA) tokenization and institutional decentralized finance (DeFi).

The company revealed that tokenized assets market is projected to reach $16 trillion by 2030. This milestone will unlock cost savings and settlement efficiencies by deploying capital markets infrastructure on the XRPL.

Crypto Payments Giant Deepens Partnership With Archax

Ripple disclosed allocating $5 million into tokens on abrdn’s Lux fund. This is part of a larger fund that the company will allocate to RWAs on the XRPL provided by a range of asset managers.

“The arrival of abrdn’s money market fund on XRPL demonstrates how real-world assets are being tokenized to enhance operational efficiencies, while further reinforcing the XRPL as one of the leading blockchains for real-world asset tokenization,” said Markus Infanger, Senior Vice President, RippleX.

In June, Archax and Ripple partnered to bring hundreds of millions of dollars of tokenized 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.

Last week, Archax added State Street, Fidelity International and Legal & General Investment Management (LGIM) funds to its tokenized RWA offerings. These tokenized funds will initially be available on XRP Ledger (XRPL), Hedera and Arbitrum blockchains.

XRP price jumped 6% in the past 24 hours, with the price currently trading at $1.49. The 24-hour low and high are $1.31 and $1.54, respectively. Furthermore, the trading volume has increased slightly, indicating a continued interest among traders. Total XRP futures open interest hit a new all-time high valued at $2.60 billion as whales purchased over 250 million coin during the weekend.

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Varinder Singh

Varinder has over 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 leading the news team to cover 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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Tron Founder Justin Sun Reveals Plan To HODL Ethereum Despite Price Drop

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2 hours ago

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April 18, 2025

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Tron founder Justin Sun is showing off diamond hands as the Ethereum price tries to stage a resurgence. Justin Sun has disclosed his intention not to sell off his ETH holdings while exploring new collaboration opportunities with Ethereum developers.

Tron Founder Is Not Selling ETH Holdings

Justin Sun has confirmed his resolve not to sell off any ETH despite falling prices for the largest altcoin. According to a post on X, the Tron founder disclosed plans to HODL the asset while unveiling plans to trigger a growth spurt.

“ETH is currently at a low price, but we have no intention of selling our ETH holdings,” said Justin Sun.

The Tron Foundation is yet to publicly reveal its ETH holdings, but speculation is rife that the organization holds a sizable amount. However, the Tron founder reportedly holds around 665,000 ETH valued at just under $1 billion at current prices.

Since Ethereum began its decline, the value of Justin Sun’s ETH holdings have plummeted from its highs of around $2.5 billion. Despite the price drop, the Tron founder is remaining firm in his resolve not to offload his ETH bags.

However, Ethereum whales are creating sell pressure for ETH by offloading their coins at a loss, sparking fears of a dip below $1,500.

Collaborating With Developers To Improve Ethereum Price

Alongside his declaration to HODL ETH, Sun revealed plans to double down on the Ethereum network. Going forward, Sun notes that Tron will explore increased collaboration with Ethereum via initiatives with developers and other critical stakeholders.

“Tron will continue to seek opportunities to collaborate with more Ethereum developers and build our industry together,” adds Justin Sun.

His comments come on the heels of a raft of community suggestions designed to improve Ethereum price performance. While the Tron founder did not give further details, the planned collaboration is expected to trigger a flurry of ecosystem activity.

This is not the first time Justin Sun is backing Ethereum with the Tron founder previously unveiling strategy to push ETH price to $10K. Sun’s plans revolved around stopping the Ethereum Foundation from making ETH sales for three years and taxing L2 protocols.

At press time, Ethereum price currently trades at $1,581 after falling by 46% over the last 12 months. There is chatter that Ethereum price has bottomed and bullish US unemployment data can trigger a rally to $2,000. Charts are indicating signals for an uptrend with ETH trading above a resistance trend line, sparking belief for push toward $4,800.

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Aliyu Pokima

Aliyu Pokima is a seasoned cryptocurrency and emerging technologies journalist with a knack for covering needle-moving stories in the space. Aliyu delivers breaking news stories, regulatory updates, and insightful analysis with depth and precision. When he’s not poring over charts or following leads, Aliyu enjoys playing the bass guitar, lifting weights and running marathons.

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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Dogecoin Price Breakout in view as Analyst Predicts $5.6 high

Published

3 hours ago

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April 18, 2025

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A Dogecoin (DOGE) price breakout past its previous All-Time High (ATH) price is gradually becoming possible amid the current market setup. While still tied in a long-drawn consolidation, a potential breakout is ahead for the memecoin, according to predictions from market analysts.

Dogecoin Price and Open Interest Outlook

As of this writing, DOGE’s price has changed hands for $0.1569, which has increased by 3.3% in the past 24 hours. This price trend is a testament to how resilient the DOGE price is, having traded at a low spot value of $0.1532. The memecoin has traded at a very close range during this period.

The current DOGE outlook shows a bullish trend in the futures market as showcased by Open Interest data. Data from Coinglass pegs the total Dogecoin committed to the futures market at 9.87 billion DOGE. This was valued at $1.54 billion and has skyrocketed by more than 5% in 24 hours.

Top crypto exchanges like Binance, OKX, and Bybit saw the highest DOGE open interest record. While the price traded at a relatively close range, the open interest commitment proves that traders with leverage are betting on the asset. 

DOGE Price to $5.6?

Optimism trails Dogecoin, despite its spot value now trading down 78.71% from its ATH of $0.7376. Market analyst Dogedog told his more than 58,600 followers on X that the price of DOGE is heading to $5.6.

While Dogegod did not provide a timeline or much context for his prediction, he highlighted how the memecoin breaks falling wedges. The analyst is not alone in his projection for the coin, as an earlier DOGE price analysis, Ali Martinez, predicted a $0.29 rally for the asset in the near term.

Although this price trend is not unrealistic, the broader market slowdown may serve as a bottleneck. Key performance metrics already tipped the Dogecoin price in line for a short-term breakout. With trading volume up 6% to more than $586 million as of writing, retail interest in the coin has further skyrocketed.

Dogecoin remains the lead among altcoins being considered for an exchange-traded fund (ETF) product. As reported earlier by CoinGape, 21Shares filed for a spot Dogecoin ETF, the latest asset manager to make the move. The belief is that an approval can usher in institutional funds, which can help fuel the coin’s price growth.

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Godfrey Benjamin

Benjamin Godfrey is a blockchain enthusiast and journalists who relish writing about the real life applications of blockchain technology and innovations to drive general acceptance and worldwide integration of the emerging technology. His desires to educate people about cryptocurrencies inspires his contributions to renowned blockchain based media and sites. Benjamin Godfrey is a lover of sports and agriculture.

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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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CZ Honors Nearly $1 Billion Token Burn Promise

Published

9 hours ago

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April 17, 2025

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Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure

The BNB Foundation has reached its 31st quarterly token burn, taking 1,579,207 tokens out of circulation. This colossal decrease, valued at about $916 million at today’s prices, reaffirms the project’s long-standing dedication to reduce its overall supply.

Burn Size Records Marginal Decline From All-Time High

The latest burn is reported as a dip from the previous quarter’s all-time record. The 30th quarterly burn destroyed 1.634 million tokens worth approximately $1.16 billion. The earlier burn destroyed 1.524 million tokens via the Auto-Burn system and approximately 110,000 units via the Pioneer Burn Program. The latest burn didn’t see any tokens from the Pioneer program.

Token Supply Close To Halfway Point To Achieve Target Goal

By means of this last cut, BNB has collectively burned around 40.89 million tokens now. At a price of $581 per token, this equates to the value of some $23.75 billion eradicated from supply forever.

The original plan in the ecosystem as described in its whitepaper has been to halve the entire supply from 200 million down to 100 million tokens. The supply that exists now amounts to about 139.311 million tokens, leaving the token almost halfway toward its final mark.

BNB is currently trading at $583. Chart: TradingView

Market Position Continues Strong Even Amid Community Worries

The circulating supply continues to be the fifth-largest in market capitalization, with its value at around $81 billion. It is the leading exchange token in the market.

Some of the community members have raised the issue of whether it is rational to burn amounts this big when the money can be used to fund marketing initiatives instead.

Asked how these issues can be addressed, Binance founder Changpeng Zhao replied that the burn mechanism is a promise set forth in the token’s whitepaper, remarking simply: “A promise is a promise.”

Multiple Burning Methods Drive Systematic Supply Reduction

According to data from the foundation, BNB has two mechanisms in place to control its token supply. The first is the quarterly Auto-Burn which varies according to price and network usage. The second occurs real-time via BEP95, burning tokens within gas fees network-wide. All tokens burned are directed into a provable “black hole” address where they are irretrievable from circulation.

The Binance coin token has various roles in its ecosystem, fueling transactions on BNB Smart Chain, opBNB, and Greenfield networks. In addition to paying for transaction fees, it is used as a governance token and reserve asset and also fuels ecosystem growth.

Featured image from Pexels, chart from TradingView

Editorial Process for bitcoinist is centered on delivering thoroughly researched, accurate, and unbiased content. We uphold strict sourcing standards, and each page undergoes diligent review by our team of top technology experts and seasoned editors. This process ensures the integrity, relevance, and value of our content for our readers.





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