Speaking at ETHCC, Polygon's Chief Product Officer John Egan argued that crypto's killer use case turned out to be moving money, specifically stablecoins as a payment rail, not NFTs, DeFi speculation, or trustless infrastructure as an end in itself. "The killer use case for crypto is money," he said.
Latest articles by Kosta Gushterov
The story in XRP is a split screen: the derivatives market just went through a violent, one-sided purge of leveraged bets, while network usage keeps climbing.
Public companies now hold more Bitcoin than at any point in history, and the more striking part is that some of them kept buying as the price fell.
Fundstrat's Tom Lee has a specific analogy for where crypto sits right now, and it's worth unpacking.
While most of the crypto market has been selling on macro fears, Solana has been doing something different: rising.
ETH is trading at $1,550, and its liquidation map tells a lopsided story. Across Binance, OKX, and Bybit over the past 180 days, the leverage is almost entirely stacked on the short side, above current price. Below it, there's very little left.
Cardano reached a price it hasn't seen since 24 December 2020, dipping to $0.1385 before steadying at $0.1448. Normally a six-year low means a market everyone has stopped paying attention to.
XRP has slipped to $1.04, down 3% on the day, after touching a low of $1.0116, its weakest print since the June 5 capitulation.
Two prominent voices, BitMEX co-founder Arthur Hayes and Strategy's Michael Saylor, argue the same thing from different angles: AI vacuumed up the money that could have driven Bitcoin higher, and the moment that reverses, crypto could be the destination.
The past three months have been rough for most of the crypto market, but the damage was far from even. Some majors gave back a fifth or more of their value, while a couple swam against the tide entirely.
Ripple's dollar-backed stablecoin, RLUSD, is now legally available in Japan, approved by the country's Financial Services Agency and distributed through SBI VC Trade's VCTRADE platform to both institutional and retail users.
Grayscale Research is making a contrarian argument: some of the most profitable on-chain protocols are now trading at valuations that would look cheap in any traditional equity market, and a regulatory catalyst may be weeks away.