🚨HUGE XRP & SOLANA NEWS!!🚀

the Thinking Crypto podcast. You're home for cryptocurrency news and interviews. I'm your host, Tony Edward. On your way in, please hit that subscribe button as well as the thumbs up button and leave a comment below. If you're listening on a podcast platform such as Spotify or Apple, please leave a five star rating and review. Well, folks. Over the past twenty four hours, there has been liquidations of over

three hundred and twelve million dollars. Stop using leverage, folks. Look, I don't use leverage, but this is what happens when the market swings upwards or downwards. Right shorts get liquidated on a move upwards, and when there's a move downwards like we're experiencing right now, longs get liquidated. I pretty much swing trade using Spot, but I don't use leverage. If you know what you're doing, you can, but it just be careful. It's very risky. But right now Bitcoin

pulling back currently just below sixty five thousand dollars. We're waiting for that bottom. We're waiting for the next move upwards. So we got to be patient here, guys. It's boring. It's annoying. This sideways chop is so boring, right, But usually this is how the markets behave in the summertime. There's usually not major moves in July and August, but come September and into Q four there usually is. So this is what we've been talking about with yesterday's news.

Whether FED may start to cut in September, maybe late August we start to see some movement upwards, and then September the fireworks really start. So be patient and use this as an accumulation opportunity. Obviously not financial investment advice. Do your own research, but you know some all coins may bleed a little bit and it could give you an opportunity to scoop up some dollar cost averaging in

of course, and even Bitcoin as well. I'm personally not buying bitcoin here because I loaded up in December twenty twenty two January twenty twenty three, but I am going to scoop up some all coins, you know, if they hit certain price points, So you can set limit orders on exchanges as well to buy at certain price points even you know, maybe it hits it, maybe it doesn't, But just keep that in mind. You can use this as a buying opportunity because we're still in a bull market.

We're still in an uptrend, folks. And what we saw is that black Rock and the other big whales have been buying, so that data doesn't lie. The wallet addresses are accumulating. So here Bitcoin Magazine reported, while bitcoin is dumping, black Rock continues to buy more bitcoin, and they show the screenshot of the wallet addresses accumulating. So smart money will buy in the dips, and retail and dumb money you're going to run scared and panic sell and so forth.

But that that's where financial education is important. Understanding the market cycle so that when these swings happen, you're not panicking because you know where we're at in the market. You know what your plan is, whether you're buying the

dips or you're holding steady, So just keep that in mind, folks. Now, speaking of smart money, Michael Sailor reported today that in July, micro Strategy acquired an additional one hundred and sixty nine bitcoin for eleven point four million dollars and now holds two hundred and twenty six thousand, five hundred bitcoin. That

is insane. You know, I was worried about Michael Sailor and micro Strategy during the bear market because they obviously raised a lot of debt and so forth to buy that bitcoin, and the bear market was pretty bloody, right, let's be honest. So they made it through. They came out on the other side, and I think this is going to pay off incredibly well for Salor and micro Strategy. It's already paying off with the arbitrage they're doing with

the stock, right. But you know, bigcoin as a treasury reserve asset is growing in adoption, and you got presidential candidates saying the United States should do this. So Sailor is ahead of the curve here. This is going to pay off really well for him. All Right, we got big all coin news. First up is XRP so ripple to allocate ten million dollars to tokenize US Treasury bills on the XRP Ledger. We're seeing tokenization increase guys the adoption.

Obviously the biggest is black Rock where they started the project Biddle where they tokenize on Etheroreum and that has reached over five hundred million dollars their fund that they tokenize so Payments Network Ripple will allocate ten million dollars to tokenize version of US Treasury bills t bills that will become available on the XRP ledger. For the first time, the short term US government debt is being issued as

T bill tokens by tokenization platform open Eating. According to a Thursday press release, assets backing the tokens will be invested in short dated US treasuries and reverse repurchase agreements, which is also known as repos collateralized by US Treasuries. Repos are securities sold with an agreement to repurchase them at a higher price at a specified feature date. The tokenization of real world assets and traditional financial securities is

a growing sector of the crypto industry. It allows traditional assets, especially private and alternative assets, to be issued, managed, and distributed in a way that is considered more efficient than their off chain counterparts. Ripple's allocation is part of a larger fund that the company will allocate to tokenize t bills provided by open Eden and other unspecified issuers. Neither open Eden nor Ripple Labs specified dates for the fund's allocation and the release. So this is great news for

the XRP leisure, but we want to see more. There's a lot more happening on ethereum and other blockchains. We know that Franklin Templeton is tokenizing on the Stellar blockchain and its native token is lumens, which is XLM, and we want to see more. But this is great news. And the future is tokenization folks, where different securities, commodities,

and assets will be on the blockchain. I've often stated twenty four to seven trading markets, no more opening and closing mail, secondary and tertiary markets created and accessibility to folks globally because right now not everyone can access to New York stocket change, but tokens on the blockchain can easily be accessed by anyone across the world. So I think that's what the future. That's where we're headed to the token economy as I've stated many times, so this

is really big news for XRP. And look XRP on the charts looking good from a macro perspective. I'm not talking about the micro of what's happening right now, but it looks like it's primed for a breakout upwards, and I'm hoping that dovetails with news that Ripple and sec have concluded the lawsuit the remainder of the lawsuit that is still on the table, and hopefully that will allow XRP to move pretty strong. But this is great news, all right, let's move ahead. Cipherpunk Holdings doubles down on

Solana again. So Toronto based investment firm Cipherpunk Holdings has once again increased its exposure to Solana. According to its latest public filing, since mid July, the firm has purchased about twenty three thousand additional Soul tokens, bringing its total to eighty six, two hundred and ninety four tokens, which

is twenty one point six million dollars. Wow, they're very bullish on sold and look I mentioned about a month ago, I think it was I put a lot more money into Solana because there's a lot of liquidity going into this token, so we're going to ride the liquidity wave and make some great returns. And part of the reason why he did that is the ETF filings, the ETF filings in Canada in the United States. Plus they I finally saw a real world adoption on Solana where Hamilton

laned tokenized on the Solana blockchain. They launched this cool new feature blinks, which would allow integration into social platforms. So those are real things outside of meme coins. I was not on the meme coin train at all. Okay, fine, you got a lot of meme coins and that's generating a lot of transactions, but that's not real rural application. But when I saw real products, real services, and real companies building on Solana, that got me to change my mind.

And then the institutional interest in as far as an eto, so this is pretty bullish. Last month, the block was the first to report that cipherpunk had ten x it's sold bag to sixty three thousand tokens worth fourteen million dollars at the time from its initial investment of six thousand, one hundred and thirty one tokens. As recently as the end of the first quarter of twenty twenty four, it held no soul, so they took a big bet recently, and I think they see why, right, they can make

a really great return. It's pretty easy because there's a lot of liquidity, plus the institutional demand for ETFs and much more. The move is part of a significant s in the focus for the company, which was one of the first publicly traded firms to buy bitcoin to act as a proxy for investing in crypto. Cipherpunk also reduced its own sizeable bitcoin holdings by about one hundred and ten bitcoin and currently holds just over fifty two bitcoin,

which is five point two million dollars. It used about forty five of those bitcoin to exercise a buy order of twenty thousand sol tokens options, while the rest were sold for a profit. According to its public filing, the firm purchased its first bitcoin in twenty eighteen, so I think they recognize they will get more gains by allocating

to Solana. They're not getting rid of all their bitcoin, but I think we've seen historically all coins perform bitcoin, right, Not that you can't make money off of bitcoin, but it's a matter of the percentage returns and your entry price, So Solana is already up significantly from its bear market bottom. So this is pretty cool. When Leah Wall took the Rains as CEO in early July, she told that bitcoin was far and away the firm's largest holding, a multimillion

dollar investment in metaverse company Animoga Brands was not far behind. It. Now appears, however, that the firm is taking a different track by reducing its exposure to bitcoin and selling off its five point six million dollar worth of Animoga shares. So this is very bolish. You behold Solana, and once again I've updated my portfolio where I've allocated a significant amount into Seoul. I'm not telling you to do that. Do your own research. I did that based on my

own research. So this is pretty bullish for Slana in my opinion, and I believe there's other firms doing the same now, guys quickly from our sponsor, and that is v Chain. Vchain is one of the top Layer one enterprise blockchains out there, where many enterprises are using them to build Web three technology and sustainability projects and much more. I'm a VET token holder in full of transparency. I have been for a long time. I'm very bullish on

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will be in the description. Now, guys, Coinbase reports one point four billion dollars in revenue, beating estimates and coinbases obviously, I believe the second largest exchange in the world behind Finance. They have the branding, they've been doing some great things, launching great products and services. And I do hold some coinbased stock, not financial advice, but I believe it will perform well because of crypto's rise. But also I've told

you guys, global liquidity is on the rise. Rate cuts are coming, so the stock market, real estate, crypto, everything will rise. We're in a macro bowl market, but I like to diversify holding some coin based stock as well. But this is pretty incredible, and look the number of transactions they're reporting here on Base their ethereum layer two. It grew by three hundred percent quarter re quarter and

it's a big revenue driver for them. So smart moving launching Base and they didn't issue a token and they're just collecting fees, so really really big move for them. And look, I think the other thing exchanges are going to have to do, guys and take into consideration is that Wall Street is here with et aps and they're going to pull away a lot of the retail who would have gone to exchanges to buy their crypt They're going to go through ETPs, so or not all of them,

but you know, a good amount. So exchanges have to diversify their revenue. And certainly derivatives trading and all these things are a big revenue driver, but the traditional spot buying and so forth, it's it's going to decrease. So these exchanges have to look at other ways to generate revenue. And I think Coinbase they saw the writing on the wall and they launch Base and they're doing other great things.

So these exchanges, if they don't up their game and launch new services and increase the value add mom and pop are going to go to Blackrock and buy their bitcoin and ether and eventually are their oh coins. So just keep that in mind. All right, we got some interesting updates here around cryptoregulations. So Senator Cynthia Lummis is the Bitcoin Act of twenty twenty four is officially live.

Cody Carbona of the Chamber tweeted it out. He says, thank you, Senator Lummis for your leadership the establishment of a strategic bitcoin reserve and bitcoin purchasing program positions in the US for global leadership in digital assets. The initiative is essential. So if you recall at the Bitcoin conference, she highlighted that this is something she's working on. So it's officially live, and it's pretty historic. It's pretty historic, guys.

I'm not expecting this to be signed into law, you know, by the end of the year. Maybe, but that would be incredibly bullish of what happens. But I think this is pretty much getting the ball rolling here. So pretty incredible stuff here, guys. I'm excited for the future adoption

of bitcoin and cryptocurrencies. Dennis Porter, who heads up the Satoshi Act Fund, which does a lot of crypto advocacy, he tweeted out today huge ending choke point two point zero and opposing CBDC Discuss impact panel at the Capitol the wins are shifting on bitcoin policy in Washington, d C.

The staff is paying close attention. This is great. Shout out to Dennis and even folks at the Digital Chamber and the Blockchain Association who are in DC every day on Capitol Hill talking to different folks to try to get them to change their policy. Crypto should not be a partisan issue. It should be bipartisan. It shouldn't be an election issue. Unfortunately, Elizabeth Warren and her cronies are the reason that happened. But it needs to get to a place where crypto is not even discussed as a

Republican or Democrat issue. Is US an American issue. We are embracing technology, creating jobs and so forth. So this is really great to hear. And I cover Operation Choke point two point zero and Gary Gins and Elizabeth Warren and the anti Crypto Army in my book, Rethinking Crypto, which is available on Amazon and paperback and digital. Grab a copy to support the podcast. Grab a couple of copies for your friends and family who want to learn about crypto. If you bought a copy already, be sure

to leave a rating and review. It will help my rankings. Thank you guys, so much, and don't forget to subscribe to my free email newsletter on substack and it's one hundred percent for you guys, so it's filled with crypto insights and knowledge. Thank you guys so much for watching and listening. I appreciate you all, and I'll talk to you all later. Two three two