Last week, Ripple CEO Brad Garlinghouse showcased his new XRP card from Gemini. This news garnered attention from not only his followers but also many participants in the cryptocurrency market.
Garlinghouse's XRP Card Showcase
Brad Garlinghouse took to social media to show off his new XRP credit card issued by Gemini. The new product offers up to 4% cashback on various goods and services. The card launch was made possible by the significant price growth of the XRP token, as noted by Gemini.
Community Reaction to the Release
Despite the active promotion of the card, the reaction from the XRP community has been cold. Many users expressed that the product did not offer anything new, as the XRP rewards program had been in existence on Gemini for several months. Additionally, some XRP holders criticized the card's availability only in the United States.
BlackRock's Investments in Ethereum
Meanwhile, institutional interest in Ethereum remains steady. BlackRock purchased $314 million worth of ETH on August 26, despite the overall slump in the cryptocurrency market. This acquisition is linked to the iShares Ethereum ETF, which continues to actively accumulate both Bitcoin and Ethereum.
The release of the new XRP card from Gemini and BlackRock's substantial investments in Ethereum highlight the ongoing interest and activity in the cryptocurrency market, despite price fluctuations.
