Markets
Ripple Token Zooms 5% Higher as Bitcoin Grapples With $84K Level
Published
6 days agoon
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admin

Solana’s SOL and xrp (XRP) edged up 5% in the past 24 hours to lead gains among majors Saturday as bitcoin (BTC) saw resistance at the $84,000 price level.
SOL surged 7% as a contentious SIMD-0228 drew to a close late Thursday in favor of those against it, keeping its current inflation schedule intact. The proposal drew the highest voting turnout in Solana’s governance history, as reported, with those against saying a passage could disrupt parts of its flourishing DeFi ecosystem and dispel chances of further institutional interest.
XRP rose 5% following a strong week for closely-related Ripple Labs, which bagged a payments license in the UAE and, per sources, is said to be on track for a close of its long-running court case against the U.S. Securities and Exchange Commission.
Meanwhile, memecoins caught a bid on Friday as pepecoin (PEPE), toshi (TOSHI), dogecoin (DOGE) and other memes rose as much as 40%, providing volatility for traders amid a mostly flat market.
Base-based TOSHI jumped 38%, leading gains, with PEPE up as much as 12% before paring gains in European afternoon hours. Meanwhile, Base-based KEYCAT jumped more than 100% as developers announced a partnership with Acheron Trading as its official market maker — aiming to boost liquidity and expand the token’s presence on exchanges.
The broader memecoin rally reflects a shift in trader behavior as bitcoin (BTC) trades sideways, pushing speculators toward higher-risk, higher-reward assets.
BTC ended the week down 3%, faring slightly better than the past two weeks where extreme volatility saw it bounce between $75,000 and $95,000 — bringing it down as much as 20% from a Jan. peak above $108,000.
As such, traders continue to eye macroeconomic factors and rate cut decision for cues on further positioning.
“The recent cooling in inflation strengthens the case for potential rate cuts later this year,” Agne Linge, head of Growth at WeFi, told CoinDesk in a email. “However, escalating geopolitical and economic tensions particularly from the ongoing trade war add complexity to the Federal Reserve’s policy trajectory.”
Bitcoin has experienced intense whipsaw price action over the past two weeks, fluctuating between $79K and $85K amid heightened macroeconomic uncertainty. Its rapid on-off price dynamics reflect its increasing sensitivity to macroeconomic factors—suggesting that Bitcoin is behaving more like a risk-on asset than a traditional store of value. This volatility is likely to persist in the coming weeks as geopolitical tensions and macro-uncertainties continue to drive market sentiment,” Linge added.
Alex Kuptsikevich, FxPro chief market analyst, told CoinDesk in an email that a strong break above the $89,000 level should be watched by traders looking to turn bullish.“Only if the market breaks above its 200-day moving average will we be able to take it as a signal of a return to growth. For now, the market dynamics resemble no more than just a bumpy downtrend,” Kuptsikevich said. “Bears are regaining control of the market on bounces to the $83,500 area.”
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Markets
Polymarket is Over 90% Accurate in Predicting World Events: Research
Published
10 hours agoon
March 21, 2025By
admin
It turns out Polymarket is a crystal ball, which can predict certain events with nearly 90% accuracy, according to a Dune dashboard compiled by New York City-based data scientist Alex McCullough.

McCullough studied Polymarket’s historical data and removed markets with probabilities above 90% or below 10% after outcomes were already known but not yet settled, to keep the analysis accurate, according to a Dune dashboard summary.
Polymarket slightly but consistently overestimates event probabilities across most ranges, potentially due to biases like acquiescence bias, herd mentality, low liquidity, and participant preference for high-risk bets, McCullough’s research found.
Longer-term markets, ones that ask bettors to consider an event far-out, look more accurate because they include many outcomes that are clearly unlikely, making predictions easier, McCullough explained in an interview with Polymarket’s The Oracle blog.
McCullough gives the example of Gavin Newsom becoming president (a question with $54 million in volume) during the last election to show that longer-term Polymarket markets often include obviously predictable outcomes, like Newsom clearly not winning, which boosts the platform’s accuracy numbers for these long-term predictions.
In contrast, head-to-head sports markets, which have fewer extreme outcomes such as long-shot presidential candidates, and a more balanced distribution, present a clearer representation of predictive accuracy, McCullough found, showing notable improvements in accuracy as events unfold and revealing periodic accuracy spikes.
Sports is a growing sector for Polymarket, with nearly $4.5 billion in collective volume wagered on the outcomes of the NBA, MLB, Champions League, and Premier League finals, according to data portal Polymarket Analytics.
McCullough’s findings about the accuracy of Polymarket are likely to be of interest in Ottawa, where Polymarket shows that new Liberal Party of Canada leader Mark Carney now has a significant lead over his Conservative rival Pierre Poilievre, even more than what poll aggregators are showing.
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IPO
Ripple CEO Confident of XRP Being Included in U.S. Strategic Reserve, Says IPO is 'Possible'
Published
1 day agoon
March 20, 2025By
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Ripple CEO Brad Garlinghouse sees closely related XRP as part of the White House’s proposed digital asset stockpile and anticipates the launch of an XRP exchange-traded fund (ETF) before the end of 2025, per a Bloomberg Markets interview.
Garlinghouse’s optimism came after the resolution of Ripple’s long-standing legal battle with the U.S. Securities and Exchange Commission (SEC), which concluded with the agency dropping its case against the company on Wednesday.
“XRP was named by the President of Truth Social. (He said) there’s gonna be a bitcoin strategic reserve and a crypto stockpile that will include things like XRP,” Garlinghouse told Bloomberg’s Sonali Basak, referring to the initiative formalized by President Donald Trump’s executive order in early March.
The Ripple CEO also foresaw a “wave of XRP ETF approvals” in the second half of 2025, noting a growing list of over ten applications pending with the SEC from firms like Bitwise and Franklin Templeton.
“I have immense confidence in the ETFs,” he said, pointing to the success of XRP exchange-traded products (ETPs) outside the U.S. Meanwhile, a Ripple Labs IPO isn’t out of question either. “Something is possible; it isn’t a huge priority,” he said.
XRP has climbed 11% to over $2.51 in the past 24 hours, leading gains in the broader market. It has flipped USDT to become the third-largest token by market capitalization behind bitcoin (BTC) and ether (ETH) as of Asian morning hours Thursday.
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Bitcoin
Bitcoin Reclaims $85k and Stocks Head Higher Despite Analysts Warning of Pain Ahead
Published
2 days agoon
March 19, 2025By
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Crypto markets are experiencing a modest move to the upside following today’s Federal Open Market Committee (FOMC) meeting, in which the U.S. central bank left interest rates steady at 4.25%-4.50%
Bitcoin (BTC) has risen 4.5% in the last 24 hours and is now trading for $85,500, its highest point since March 9.
The CoinDesk 20 — an index of the top 20 cryptocurrencies by market capitalization except for stablecoins, memecoins and exchange coins — is up 6%. Ether (ETH) and solana (SOL) have both surged by 7%, while Ripple’s XRP token has risen 10% off the back of CEO Brad Garlinghouse’s announcement that the Securities and Exchange Commission (SEC) is planning to drop its case against the company.
Crypto stocks are also doing relatively well, especially bitcoin mining companies like Bitdeer (BTDR) and Core Scientific (CORZ), which are up 10% and 8% on the day, respectively. Bitdeer is likely buoyed from the technological progress it recently made in its ASIC manufacturing process, as well as from the news that stablecoin giant Tether was increasing its stake in the company to 21%.
Core Scientific, meanwhile, is potentially reaping the benefits of AI firm CoreWeave (Core Scientific’s main customer) filing for an initial public offering earlier in the month. Even so, both companies are down more than 61% and 53% since January and November respectively.
Federal Reserve Chair Jerome Powell said that tariff-related inflation was likely to be transitory and that recession risks remained low. And despite the market reacting positively to the meeting — Nasdaq, S&P 500 and Dow Jones all gained 1% or more — market commentators weren’t necessarily convinced.
“The word — ‘transitory’ — is back at the Federal Reserve as Chair Powell characterizes the price effects of tariffs as a one-off,” economist Mohamed A. El-Erian posted on X. “I would have thought that, particularly after the big policy mistake of earlier this decade and given all the current uncertainties, some Fed officials would show greater humility. It’s simply too early to say with any regress of confidence that the inflationary effects will be transitory.”
Gold continued to rise after surpassing the $3,000 mark on Tuesday and today hit a new record above $3,050. Callie Cox, chief market strategist at Ritholtz Wealth Management, said that the U.S. central bank was signaling that any additional rate cuts would likely happen at the cost of battering stocks. “The Fed is no longer comfortable gliding to neutral as we get closer to their inflation target. I think you can argue that the soft landing is over,” she posted.
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