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Solana's '589' post sparks XRP meme talk as Ripple CTO says XRP escrow is undervalued
On Tuesday, Solana's official account posted the number "589", reviving long-running XRP meme speculation. Ripple CTO David Schwartz said markets undervalue the company's XRP escrow in light of a $500 million secondary share sale at a $40 billion valuation, according to the article. Andrew Tate reiterated he is "huge on Bitcoin" and questioned why a 10,000 BTC purchase had little visible impact on price.
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XRP
XRP+1.98%
12h fa
1g fa
Ripple Raises $500 Million at $40 Billion Valuation as Wall Street Targets XRP Reserves
Ripple’s November share sale brought in $500 million from institutional investors at a $40 billion valuation, with terms including a 10% annual return and a buyback option after three or four years, according to Bloomberg. Some funds reportedly judge that up to 90% of Ripple’s net asset value is tied to its XRP holdings, which Bloomberg estimates at over $83 billion despite recent price declines.
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XRP
XRP+1.98%
1g fa
12-5
Bitcoin Derivatives Market Sees 11,588% Liquidation Imbalance Amid Growth Concerns
Bitcoin declined sharply after economic growth warnings triggered a wave of liquidations in derivatives markets, producing an 11,588% imbalance between long and short positions. Long positions accounted for over $115 liquidated for every $1 in shorts, data show. The selloff followed remarks suggesting first-half growth would miss expectations, prompting rapid exits from leveraged positions.
BTC
BTC+2.38%
12-5