Bitcoin Plunges Below $104K Amid Trade Tensions, While Ripple Expands Corporate Reach with $1 Billion Acquisition
Bitcoin Plunges Below $104K Amid Trade Tensions, While Ripple Expands Corporate Reach with $1 Billion Acquisition
The crypto market presented a mixed landscape this week, with Bitcoin experiencing a significant downturn, plummeting below $104,000 to its lowest point since July. This decline is largely attributed to escalating US-China trade tensions and substantial fund outflows, leading to increased liquidations across the market. In contrast, Ripple made a strategic move, acquiring GTreasury for $1 billion. This acquisition is set to enhance Ripple's corporate expansion efforts and create a pathway for its RLUSD stablecoin into Fortune 500 treasuries, building on RLUSD's impressive growth since its December 2024 launch.
Bitcoin extended its week-long decline, sliding to its lowest level since July as renewed US–China trade tensions and heavy fund outflows forced another wave of liquidations across crypto markets. According to CryptoSlate data, Bitcoin fell over 5% in the past 24 hours to as low as $103,300 after trading near $112,000 earlier in the week. […]
Ripple’s $1 billion acquisition of GTreasury marks a new step in its corporate expansion and a direct challenge to the stablecoin distribution problem. While Ripple USD (RLUSD) has shown an impressive 987% growth since its December 2024 launch, reaching a supply of $839.9 million, it still captures only 0.27% of the $301.9 billion stablecoin market. […]