Cryptocurrencies Price Prediction: Grayscale, XRP & Cryptos – American Wrap 07 August


Grayscale introduces decentralized AI token funds for TAO and SUI

Grayscale announced on Wednesday the establishment of two new crypto Trust funds for Bittensor (TAO) and Sui (SUI) tokens. The move adds to the firm's growing list of decentralized AI funds.

Ripple (XRP) made a comeback above key support at $0.50 after the recent correction in the crypto market. On-chain data shows traders losing interest in the altcoin after a massive sell-off event on August 5. 

Santiment data shows traders realized millions in losses, a likely sign of capitulation. 

Ripple

Crypto Today: Morgan Stanley to offer Bitcoin to clients, Ethereum gears for $3,000, XRP steady above $0.50

Bitcoin trades above $57,000 early on Wednesday, as Morgan Stanley advisors gear up to offer BTC Spot Exchange Traded Fund (ETF)to their clients. 

Dogecoin

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.

If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.

FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.

The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.

Recommended content


Recommended Content

Editors’ Picks

What to expect from Bitcoin in September, historically a red month for BTC

What to expect from Bitcoin in September, historically a red month for BTC

Bitcoin (BTC) on-chain metrics support gains in Bitcoin, however, historically the largest cryptocurrency has yielded negative returns for traders in the month of September. The ongoing cycle is considered different from previous ones with Bitcoin Spot ETFs approved this year and rising institutional demand for the asset. 

More Bitcoin News
Ripple update: 1 billion XRP transfer, SEC could payback $125 million to Ripple if appeal fails

Ripple update: 1 billion XRP transfer, SEC could payback $125 million to Ripple if appeal fails

Ripple unlocked a large volume of XRP tokens on September 1. The transfer was tracked by Whale Alerts and XRP traders pondered on the impact of the large volume unlock. XRP is currently faced with mounting selling pressure and slipped to $0.55 on Sunday. 

More Ripple News
Ethereum founder Vitalik Buterin says never sold Ether for profit, ETH slips under $2,400

Ethereum founder Vitalik Buterin says never sold Ether for profit, ETH slips under $2,400

Vitalik Buterin, Ethereum founder responded to criticism of Ether on-chain transfers. Buterin’s recent Ether transfers have raised concerns among ETH holders. Ether crumbled under selling pressure since ETF launch and consistent outflows have negatively influenced the altcoin’s price. 

More Ethereum News
Crypto millionaires double in 2024, cross 172,000 amidst meme coin and AI hype

Crypto millionaires double in 2024, cross 172,000 amidst meme coin and AI hype

Crypto Wealth Report 2024 shared insights into the number of crypto and Bitcoin millionaires and the increase since last year. Nate Geraci of the ETF Store commented on the statistics. Bitcoin trades at $59,062 at the time of writing. The number of Bitcoin millionaires has doubled in 2024, up to 85,400. 

More Cryptocurrencies News
Bitcoin: Will BTC continue its ongoing decline?

Bitcoin: Will BTC continue its ongoing decline?

Bitcoin (BTC) trades above $59,000 on Friday, but it has lost 7.5% this week so far after being rejected around the daily resistance of $65,000. The decline is supported by lower demand from the US spot Bitcoin ETFs, which registered a net outflow of $103.8 million, falling Bitcoin's Coinbase Premium Index, and a spike in Network Realized Profit/Loss. However, some investors seem to be taking the chance to buy BTC amid this price dip, as shown by the Exchange Netflow data.

Read full analysis
Moneta Markets review 2024: All you need to know

Moneta Markets review 2024: All you need to know

VERIFIED In this review, the FXStreet team provides an independent and thorough analysis based on direct testing and real experiences with Moneta Markets – an excellent broker for novice to intermediate forex traders who want to broaden their knowledge base.

Read More

BTC

ETH

XRP