Coinbase announces acquisition of Solana meme coin app Vector

Glassnode co-founders Jan Happel and Yann Allemann assert that the current cryptocurrency crash is driven by a singular source of sell pressure, primarily affecting Bitcoin. They argue that this situation reflects a mechanical unwind rather than a narrative shift in the market. Their analysis indicates that the sell-off is not a natural market response but rather a forced exit by a participant, as evidenced by unusual momentum indicators.

Analysts have observed a 15% surge in XRP's price, attributed to the reappearance of a key metric that has historically indicated short-term rebounds. Crypto expert Dom noted that this pattern has consistently led to price recoveries of at least 10%. Despite recent volatility in the broader cryptocurrency market, XRP has shown resilience, maintaining trading levels above $2.

Cardone Capital has acquired 185 Bitcoin for approximately $15.3 million during a downturn in the cryptocurrency market. This acquisition reflects the company's strategy to invest in digital assets amid fluctuating market conditions.

Coinbase has acquired Vector, a decentralized trading platform built on the Solana blockchain, for an undisclosed amount. This acquisition marks Coinbase's continued investment in Solana, following previous purchases of Deribit and Echo. The move is part of Coinbase's strategy to enhance its offerings in the cryptocurrency market.

Rumble is testing a non-custodial wallet that enables Android users to send Bitcoin and stablecoin tips to creators. This integration aims to enhance user engagement and provide creators with new revenue streams.

The New York Stock Exchange (NYSE) has approved the listing of Grayscale's XRP and Dogecoin exchange-traded funds (ETFs), with trading set to commence on Monday. This development is anticipated to enhance mainstream adoption of cryptocurrencies and may influence future regulatory frameworks.

Bitcoin sentiment has reached its lowest point since December 2023, as panic and bearish views have surged on social media during a recent market decline. This negative sentiment reflects growing concerns among investors regarding the cryptocurrency's stability and future performance.

Bitcoin exchange-traded funds (ETFs) have experienced significant outflows, totaling $903 million, marking the second-largest withdrawal since their inception. This trend reflects growing investor caution amid fears of a potential bear market, as Bitcoin's price has been declining. The overall sentiment in the cryptocurrency market remains negative, with investors shifting their focus to other assets.