Recent activity in the crypto market reveals contrasting trends: XRP is attracting institutional support while Ethereum faces challenges in recovery.
XRP: Institutional Backing and New Offerings
XRP remains a focal point due to an increase in institutional interest. Coinbase has confirmed the launch of 24/7 XRP futures trading starting June 13. These contracts will be cash-settled in USD and based on 10,000 XRP. Additionally, Ault Capital Group is launching an XRP-based lending platform focused on publicly traded companies in the U.S. This indicates an expanding utility for XRP.
Ethereum: Current Struggles and Technical Signals
Despite a brief rise to $2,689, Ethereum has fallen back to around $2,500, showing bearish signs. On-chain metrics provide mixed signals: the MVRV Long/Short Difference has decreased from -43% to -20%. However, the lack of volume impacts the current setup, raising concerns for a potential drop towards the $2,000 mark.
Future of the Crypto Market and New Offering from Unstaked
Unstaked is actively raising funds in its presale, achieving $9.6 million with over 1.1 billion tokens sold. The project focuses on AI functionalities and transparent governance, aiming to shift the crypto discussion. A potential 27x return is projected at the launch, making Unstaked a notable player in the crypto space.
Against the backdrop of increasing institutional interest in XRP and Ethereum's struggles, the Unstaked project may present new opportunities in the cryptocurrency market.
