XRP exchange-traded funds now hold a record 1.47% of the total XRP supply, driven by a recent rally and growing anticipation of a potential spot ETF approval. Meanwhile, Grayscale has rejected the four-year cycle theory for Bitcoin, suggesting the market may not follow historical halving patterns. And in a separate development, three decentralized finance protocols suffered exploits totaling $35.56 million in consecutive attacks.
XRP ETF Holdings Surge to Record
XRP ETFs now control 1.47% of the total XRP supply, a new high. The increase comes amid a rally in XRP's price and speculation that a spot XRP ETF could soon get the green light from regulators. The milestone underscores growing institutional interest in the token.
Grayscale Rejects Bitcoin's Four-Year Cycle
Grayscale has pushed back against the widely held belief that Bitcoin follows a four-year cycle tied to its halving events. The firm argues that the market may not repeat historical patterns, suggesting that the current cycle could behave differently. The statement challenges a core tenet of Bitcoin investment strategy.
DeFi Protocols Hit by $35.56M in Exploits
Three DeFi protocols were hit by consecutive exploits, resulting in combined losses of $35.56 million. The attacks highlight ongoing security vulnerabilities in the decentralized finance space. Details on the specific protocols and the nature of the exploits are still emerging.
The XRP ETF filing decisions are expected in the coming months, while the DeFi community awaits further details on the exploits and potential recovery efforts. Grayscale's stance on the Bitcoin cycle will likely fuel debate among traders and analysts.
