Here’s a key lesson for Financial Literacy month: Be real and study market history.
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Cryptocurrency exchange Coinbase says bitcoin dips are likely to be “more aggressively bought compared to previous cycles, even as volatility persists during price discovery.” The crypto firm noted that the impact of U.S. spot bitcoin exchange-traded funds (ETFs) and the larger inflow of institutional demand can be seen in the open interest of bitcoin futures. […]
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Crypto Expert BarriC has raised eyebrows with his recent analysis of the XRP price, in which he stated that the crypto token could rise to $1,000. As part of his analysis, he also elaborated on why this price level is attainable and not an “arbitrary number” he has pulled out for fun.
When Will The XRP Price Rise To $1,000?
BarriC suggested in an X (formerly Twitter) post that the XRP price will rise to $1,000 in the next five to ten years. He explained that this would happen due to the new money flowing into the crypto space during that period. Specifically, he alluded to the “400 trillion dollars of personal wealth” and also institutional money yet to come into crypto, which could help drive up XRP’s price.
To drive home his point, he drew his followers’ attention to the Spot Bitcoin ETFs and how they have so far contributed to Bitcoin’s bullish momentum and price surge. As such, he believes that XRP could also benefit from such institutional demand once institutions begin to show interest in other crypto ETFs like a potential XRP Spot ETF.
BarriC boldly claimed that to say that XRP will not hit $1,000 “is to say that the entire crypto market as a whole will never grow or evolve or that new money will not come in.” He also suggested that the only way the XRP price wouldn’t hit $1,000 was if Ripple somehow failed in everything they had set out to do.
However, he believes all that is unlikely and that the crypto space and Ripple will continue to grow the same way they have since 2016, even though he admitted that people “aren’t ready to fathom price action like a $1,000 $XRP.” He added that this is the same way no one in 2016 could have fathomed Bitcoin at $74,000, but it eventually happened.
XRP To $2,500 Is Also A Possibility
Crypto analyst Egrag Crypto once raised the possibility of the XRP price hitting $2,500 by 2029 while sharing his encounter with a top banker. Egrag mentioned that the banker told him XRP would hit this price level, and he agreed. Like BarriC, Egrag claimed that the banker spoke about how ETH hitting $2,500 seemed impossible then, but it happened.
However, XRP YouTuber Moon Lambo will have reservations about these price predictions. He once suggested that there isn’t enough money in the world to drive XRP’s price to four or five digits. He also noted that any new money that flows into crypto won’t only go into the XRP ecosystem. As such, one can’t base such an ambitious price prediction solely on money that has yet to come into crypto.
At the time of writing, the XRP price is trading at around $0.60, up in the last 24 hours according to data from CoinMarketCap.
XRP price sitting at $0.6 | Source: XRPUSD on Tradingview.com
Featured image from CryptoRank, chart from Tradingview.com
Disclaimer: The article is provided for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.
An eclipse like the one on April 8 won’t happen again until 2044, so millions of Americans are paying to get a glimpse of Monday’s total solar eclipse.
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Warren Buffett is one of the wealthiest people in the world, with a net worth estimated at over $133 billion.
Despite his wealth, the legendary investor and Berkshire Hathaway Inc. CEO lives a frugal lifestyle, preferring the simple pleasures of a McDonald’s hamburger over extravagant dining.
“I buy everything I want in life,” Buffett said at the 2017 New York City premiere of the documentary “Becoming Warren Buffett,” according to People.com. “Would 10 homes make me more happy? Possessions possess you at a point. I don’t like a $100 meal as well as a hamburger from McDonald’s. That’s the way I’m put together, I don’t equate the amount I spend with the enjoyment I’m going to get from something.”
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This humble approach extends to Buffett’s transportation and housing. In a 2013 CBS News interview, Buffett was spotted driving around his hometown of Omaha, Nebraska, in a 2006 Cadillac. While being interviewed by journalist Rebecca Jarvis, he showed off his favorite places in the city, including the local McDonald’s. When Jarvis asked what he typically ordered there, Buffett replied, “Three times out of four, I get the sausage McMuffin. Lunchtime I get the Quarter Pounder and fries.”
Despite now driving a more recent 2014 Cadillac model, Buffett has never been one to flaunt his wealth with lavish vehicles. According to his daughter, he looks for hail-damaged cars to get the best deal.
The same goes for his living situation. Buffett still resides in the home he purchased in 1958 for $31,500, the equivalent of around $338,000 today — less than the price of the average home in 2024.
“I am happy in a pair of khakis and a sweater so I don’t need fancy clothes. I don’t need fancy food,” Buffett said.
Buffett’s frugal philosophy extends beyond his personal life. He has pledged to give away 99% of his wealth to philanthropic causes, and he lives on a salary of $100,000 per year from Berkshire Hathaway.
For Buffett, his immense wealth is not a source of lavish spending but a responsibility to use it wisely and give back to others. By modeling a life of simplicity and moderation, the Oracle of Omaha shows that true happiness and fulfillment come not from material possessions, but from within.
Buffett’s lifestyle offers a valuable lesson: Happiness is not directly proportional to wealth, but securing sufficient funds for a comfortable retirement remains essential. As the bar for retirement savings continues to rise, seeking guidance from a financial adviser gains importance. Such professional advice can help people establish a robust financial strategy, ensuring a worry-free enjoyment of their retirement years.
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This article Warren Buffett Says He Prefers A McDonald’s Burger Over A $100 Meal — His Typical Lunch Is A ‘Quarter-Pounder With Fries’ originally appeared on Benzinga.com
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The latest data reveals that Blackrock’s spot bitcoin exchange-traded fund (ETF) has increased its bitcoin portfolio, now encompassing 263,937.48 bitcoins valued at $17.88 billion. Spot Bitcoin ETF Reserves Reach New Heights Several U.S. spot bitcoin ETFs have bolstered their bitcoin (BTC) holdings, bringing the total for ten ETFs, excluding Grayscale’s Bitcoin Trust (GBTC), to 519,440.22 […]
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A Nigerian High Court in Abuja ordered that the detained Binance executive Tigran Gambaryan be remanded in prison following the postponement of his bail hearing.
Gambaryan, a US citizen, pleaded not guilty to money laundering charges earlier today and will remain in custody until his bail hearing on April 18. The trial will commence on May 2, and in the interim, he will be held at Kuje Correctional Center, one of the largest prisons in the nation’s capital.
Today’s court appearance follows Gambaryan’s arrest over six weeks ago, along with another Binance executive, Nadeem Anjarwalla, regarding the exchange’s alleged involvement in worsening Nigeria’s foreign exchange woes. Anjarwalla escaped custody last month but is being tried in absentia.
Binance has yet to respond to CryptoSlate’s request for comment as of press time.
Why Gambaryan was remanded
Gambaryan faces multiple charges, including five counts of money laundering. His legal counsel contended that he shouldn’t bear responsibility for Binance’s actions, stressing his limited decision-making role within the exchange.
However, Judge Emeka Nwite dismissed this argument, citing Gambaryan’s prior representation of Binance in Nigeria. Notably, Binance said Gambaryan had previously facilitated a training session for Nigerian law enforcement agents on how to detect crypto frauds.
Furthermore, the judge highlighted Gambaryan and Anjarwalla’s affidavit affirming their presence in Nigeria since February, acting as representatives of the crypto exchange firm.
Consequently, the judge deemed Gambaryan’s refusal to acknowledge the charges on Binance’s behalf as unlawful.
The judge further rejected Gambaryan’s lawyer’s appeal to detain him under the prosecuting agency, the Economic and Financial Crimes Commission. The judge reportedly ruled that Gambaryan’ should be held at Kuje because there “have been Nigerians who had been convicted in the US and were detained in their prisons.”
The post Nigerian court orders Binance executive to remain in prison despite not guilty plea appeared first on CryptoSlate.
Bitcoin collateral for Ethena’s USDe synthetic dollar has exceeded $500 million less than a week after its introduction.
The platform’s website data showed approximately $537 million in Bitcoin reserves across various exchanges such as Binance, OKX, and Deribit. The amount represents roughly 26% of its total asset reserve.
The other reserve assets include $714 million in Ethereum, $353 million in liquid-staked Ethereum, and $365 million in Tether’s USDT.
Seraphim Czecker, Ethena’s head of growth, said the substantial Bitcoin reserve was evidence that the platform is ready for the impending halving event. The halving is expected on roughly April 20 and will reduce Bitcoin’s block reward by 50% to 3.125 BTC.
Last week, Ethena onboarded BTC as a backing asset for USDe as part of efforts to create a safer product for its users. However, several market experts warned that the plan could pose a contagion risk for the broader crypto industry.
USDe adoption continues
As the platform’s Bitcoin collateral grows, USDe adoption is also witnessing an astronomic rise.
Data from CryptoSlate shows that USDe’s market capitalization has soared to $2.14 billion, with its trading volume during the past day at $364 million.
Its adoption from major DeFi projects like MakerDAO and Frax Finance has facilitated these high numbers.
Earlier today, Ethena Labs revealed that Frax Finance approved a $250 million liquidity pool to facilitate automated market operations (AMO) for minting new FRAX tokens.
According to Ethena Labs:
“As of yesterday FRAX has begun adding USDe POL which will create one of the deepest pools of dollar liquidity onchain, and enable FRAX to diversify their source of backing yield.”
Besides that, lending protocol Morpho Labs stated that MakerDAO, the issuer of the DAI stablecoin, allocated an additional $100 million in DAI tokens to its USDe/DAI and sUSDe/DAI markets on Morpho Blue.
It added:
“This follows Maker’s successful proposal to increase Spark’s MetaMorpho Vault DDM Maximum Debt Ceiling from $100 million to $1 billion DAI. The deployment of new DAI debt will happen progressively based on Block Analitica’s risk assessment, starting with the additional $100 million allocated today.”
The post Ethena’s USDe Bitcoin collateral exceeds $500 million in a week appeared first on CryptoSlate.
Two of China’s largest fund management firms have recently been reported to be filing applications for spot bitcoin exchange-traded funds (ETFs), according to regional sources on Monday. Harvest Global Investments and Southern Fund are seeking approval from Hong Kong’s Securities and Futures Commission (SFC), aiming to obtain authorization to introduce spot bitcoin ETFs. China’s Investment […]
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Memecoins are a controversial topic that I usually go out of my way to avoid. While some view them as a lighthearted way to engage with the crypto community, others see them as nothing more than a speculative gamble with no real value. Further, my personal view is that much of the memecoin sector hurts blockchain more than it helps. I have nothing against people gambling with memecoins, but we should treat gambling as gambling and not hide behind the false narratives of ‘community.’
That said, and amid this debate, the Lens Protocol-based project Bonsai has emerged as an outlier.
Unlike many memecoins that rely solely on hype and speculation, Bonsai has taken a different approach. By integrating with the Lens Protocol, Bonsai has become a vital tool for content creators to monetize their work and engage with their communities.
Since its launch on March 4, Bonsai has gained significant traction within the Lens ecosystem. It has become the preferred currency for monetizable content, with a market share of around 77% of paid mints on Lens. Creators have earned over 3 million worth of $BONSAI (approximately $240,000 as of April 4). This demonstrates that memecoins can be more than just a fleeting trend – they can have real-world applications that benefit both creators and their audiences.
However, that has not stopped the price from rallying as any ‘good’ memecoin can. In the past month, it has surged by 2,000% since Lens users were first airdropped tokens.
What is Bonsai?
Bonsai is an innovative token launched on the Polygon blockchain, specifically designed for the Lens Protocol ecosystem. It combines the features of an ERC-20 token (BONSAI) and an ERC-721 non-fungible token (BONSAI NFT) in a unique implementation called DN-404.
One of the key features of DN-404 tokens is their fractionalization mechanism. Every 100,000 BONSAI tokens held in a wallet are equivalent to 1 BONSAI NFT. This means that users automatically own NFTs based on the number of BONSAI tokens they hold. If the token balance drops below 100,000, the corresponding NFT is lost. This unique interaction between the token and NFT contracts allows for seamless transfers and ownership tracking.
Bonsai has a total supply of 100 million tokens, with 60% allocated to the community through various airdrops and ecosystem support initiatives. The first airdrop was conducted at launch, distributing 10% of the total supply to active Lens users. Subsequent airdrops have rewarded community engagement and growth. A second airdrop occurred recently on Orb, and the Orb team celebrated adding minting functionality to its app with an additional BONSAI airdrop for early adopters. The remaining token allocation includes 15% for the team, 10% for investors, and 15% for liquidity.
Ultimately, the token serves as a community currency for builders, explorers, and early adopters of on-chain social platforms within the Lens ecosystem. It enables users to perform various on-chain actions directly from their Lens posts, such as collecting posts as NFTs, tipping, swapping tokens, and engaging in DeFi activities.
While other socialFi ecosystems such as Deso and Farcaster have utilized tokens to reward users, the nature of the Bonsai implementation feels unique due to the strength of the underlying protocol, Lens. Lens allows every post to be collected as an NFT. Further, additional functionality can be programmed into the mint at the click of a button. Creators can share royalties with collaborators, share income with fans who share content, and even assign commercial rights to those who collect posts. All of this is possible natively with Lens without any coding skills.
Bonsai’s success leads to a $100 million valuation.
Bonsai’s success has attracted significant investment from leading figures and organizations in the crypto and venture capital sectors. The recent $1 million angel funding round, which propelled the token’s market cap to nearly $100 million, is a testament to investors’ faith in Bonsai’s potential to revolutionize content monetization on blockchain networks. This support from industry leaders further validates Bonsai’s approach and highlights the growing recognition of memecoins as a legitimate avenue for driving community value.
Bonsai stands out as a beacon of hope in a space where many memecoins are criticized for their lack of substance and potentially harmful impacts. By aligning with the values of content ownership, social graph portability, and on-chain social actions, Bonsai is redefining what it means to be a memecoin. Rather than simply fueling speculation and hype, Bonsai fosters a community that rewards engagement, brings value to the ecosystem, and offers creators fair compensation for their work. As the crypto landscape continues to evolve, projects like Bonsai serve as an inspiration for how memecoins can be leveraged to drive real, meaningful change and create a more equitable and sustainable future for all.
Bonsai is supported by a wide range of applications within the Lens ecosystem, including Hey, Orb, Buttrfly, Kaira, Lenscan, Orna, Tape, Bloomers, Lenspeer, MadFi, wav3s, and Trustmebro. These applications leverage the $BONSAI token for various purposes, such as user acquisition, engagement, and monetization.
The team behind Bonsai, MadFi, states it is committed to building capabilities that support the creator economy. They believe that tokens can align platforms, creators, and users, providing effective monetization options for content creators, especially those in the long tail who might otherwise be marginalized.
Overall, Bonsai represents an exciting development in the Lens Protocol ecosystem, offering a unique and innovative approach to token economics, community engagement, and creator monetization. Its rapid adoption and growth demonstrate the potential for on-chain social platforms to revolutionize how creators and users interact and derive value from their content and engagement.
Bonsai, up to this point, has the potential to become a shining example of how memecoins can be redefined to drive genuine community value. Some will argue DEGEN was the first ‘community token’ but my view is that there is still huge speculation around interest in DEGEN.
Bonsai was not born off users hoping to get rich, it was born from a desire to trade memes, music, and art on social media using a fun digital currency. For me, this is the definition of a true memecoin and certainly that of a community token.
Disclaimer: I received an airdrop of Bonsai for my contributions to Lens Protocol, and I have earned Bonsai from users collecting my posts. I have also given away up to 90% of the Bonsai I have earned from specific posts through the mirror referral system on Lens.
My total Bonsai holdings are around 25,000 as of press time. I honestly do not care much about the value of the tokens; instead, I value what they facilitate on Lens. I spend my BONSAI freely collecting content from others, so if you make collectible content on Lens, feel free to tag me: akiba.lens.