XRP & DOGECOIN ETFS SMASH RECORDS & FIRST XRP BACKED STABLECOIN!

Episode Transcript
Available transcripts are automatically generated. Complete accuracy is not guaranteed.
Speaker 1 (00:04):
Hey, everybody, Welcome into 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. Folks,
let's take a look at the charts here, because we're

(00:26):
not seeing much price action as yet. And you know,
some people were anticipating that once we heard the FED
make the announcement of a rate cut, that the markets
would officially rally. But as I've been telling you guys,
that's not a fundamental part of the market. That's not
what drives markets. It's more of a narrative and a
psychological thing for retail investors. But the factors of what

(00:47):
we've been following are global equidity and all the support
levels are there for the bullmarket to continue. So we're
still in the bullmarket. We continue to see global liquidity
making new highs, so we really have to be patient here.
I know some of you are getting impatient. You want
your coins to pump the market seems to be boring
you but that is usually a good sign. When the

(01:07):
market turns boring and people are losing hope, that's actually
a very good sign. It means the whales and the
market makers have done their job. They've either put you
in a boredom phase or fear, and the market always
does the opposite of what retail feels. If the herd
is getting bored, they're saying the top is in or
you know, this stuff really sucks and all that they're

(01:28):
losing confidence you know what's coming next. So this actually
makes me feel bullish, and I can only say that
having been through multiple bull and bear market cycles, understanding sentiment,
understanding what the market makers and the whales are doing.
So folks, everything is still on track. Bitcoin, you know,
it had pumped up to one hundred and seventeen thousand dollars.

(01:48):
But one of the things I've been saying over the
past couple of weeks, folks, is that I don't like
what I'm seeing on the weekly chart.

Speaker 2 (01:56):
Now.

Speaker 1 (01:56):
It doesn't mean once again the bull market's over. It's
just that we could still see some more volatility to
the downside, and don't be surprised if there's a quick
flush out before we find the bottom and start moving.
The reason I'm saying this is on the weekly chart,
the mac D shows the bears are in control. I've
often said, hey, look the bulls are in control. You

(02:17):
can see the Magde's in the green. Right now it's
in the red. So just be cautious, just anticipate the
potential for some quick flush out before we rally to
new highs. So we really really have to be patient here.
But things are moving along this SMP five hundred and
NASAC all making new highs. All of this following global liquidity.

(02:38):
We saw gold was ripping for a good amount of time.
Now it seems like it's the stock market's turn, and
then bitcoin and crypto will have their turn because we're
in a macro bowl market for all assets, of course,
so just be patient. USDC tether dominance continues to show
that we haven't broken down where that liquidity will start
to enter in and we see the next major rally.

(03:02):
In addition, bitcoin dominance, while it is in a downtrend,
it is currently moving sideways. So this is not unlike
anything we've seen before. We just got to be patient.
That is the thing that trips up a lot of people.
But institutional investors know the game. They know they're looking
at all these metrics, and they can play the waiting game, right,
while retail is mostly emotional. So this is why I

(03:23):
keep harping, don't be emotional, be educated, right. We want
to make sure we are looking at the right data
and signals and much more.

Speaker 2 (03:31):
Now, something that could.

Speaker 1 (03:32):
Drive some additional liquidity into the market is that FTX
Recovery Trust to unlock one point six billion dollars for
creditors in the September disbursement. So the FTX Recovery Trust,
the entity overseeing the distributions of funds from the bankrupt
crypto exchange, announce a third trunch of distributions to creditors
worth about one point six billion dollars. As I've said

(03:54):
in the past, you know, some folks who are getting
their money back may put it back in the market,
and some may not. Right, But once again, you know,
it's plausible to say that some of this liquidity will
come back and folks will try to catch the bull
market and make some returns, you know, after their funds
have been stuck for a long time. So let's keep
an eye on this and let's see how what impact

(04:15):
this has on the market in addition to global liquidity
and other things. Now, look at this news, folks. XRP
and Doge ETFs smash records with fifty four point seven
million dollars combined one day volume. So the rex Ospray
ETFs for XRP and dosee coin went live yesterday. And Folks,
as I've described in the previous podcast, this is a

(04:36):
very different model and a way of going about it
that rex Ospray took. It's not the traditional setup that
we've seen with the other filers under nineteen thirty three Act.
This is under the nineteen forty where you created a
c corp. They did this for Salona as well, rex
Ospray that is, so they did it for XRP and ETF.
And look, as I said, I think it was a

(04:57):
smart move on their part, and they can always convert
it back to let's say the nineteen thirty three set up.
So the rex Ospray XRP ETF recorded the highest debut
volume of any ETF this year, surpassing thirty seven million dollars.

Speaker 2 (05:11):
Wow.

Speaker 1 (05:12):
The Doze ETF registered a volume of seventeen million dollars. So, folks,
there's demand for XRP. Clearly, this market cycle is very
different for XRP. It has been one of the leaders
in the market as far as all coins, seeing a
lot of liquidity. I've been sharing the charts with you guys,
telling you the setup looks incredibly bullish. There's a ton

(05:32):
of filers for the XRP SPOTYTF. The SEC ripple case
has been completed. That's a huge narrative, so you have
a flip of the sentiment. And we've been seeing that
the futures have actually been performing really well on the CME.
But in fact, Coinbase today they said in just one month,
Solana and XRP perpetual style of futures have scaled exponentially.

(05:54):
They said one point nine billion dollars in notional volume,
one point six million plus contract traded. So again there's
demand for this asset. And in addition to the SEC
case being wrapped up, we talked about it yesterday's podcast,
a lot more tokenization and building is happening on the
XRP ledger. Now, some people are gonna get emotional and triggered,

(06:15):
but we're about the facts here, right, I'm sharing straight
up facts. Yesterday I broke down the data on RWA
dot xyz that we're seeing a lot of tokenization, the
news of DBS and Franklin Templeton building on the XRP
ledger that was announced yesterday.

Speaker 2 (06:30):
So those are the facts.

Speaker 1 (06:31):
So that's why I believe XRP will be one of
the top performing assets in this bullmarket cycle. And look,
I'm diverse, fite. I hope Bitcoin Salona etherorem so other
assets are going to do well. Also, I'm just highlighting
the reports and the facts here. So I'm not married
to any coin. I'm just here to make money. So
you know, you know, people get emotional Bitcoin maxis, they
get all emotional.

Speaker 2 (06:51):
I'm here to make money.

Speaker 1 (06:52):
Man. You guys can have your religion and all your nonsense.
I'm here to make money.

Speaker 2 (06:56):
Now. Look at this news.

Speaker 1 (06:57):
We got the first XRP back stable one here, so enosis,
they tweeted out, we are thrilled to announce the upcoming
launch of Innosis loans, a friendly fork of Liquidy version
two by Liquidy Protocol deployed on Flare networks.

Speaker 2 (07:13):
This marks a historic.

Speaker 1 (07:15):
Milestone in the defile landscape, as the first ever collateralized
debt position protocol to leverage XRP as collateral to mint
a stable coin. We are seeing adoption of XRP and
XRP ledger. This is huge, Flair co founder Hugo Phillion said,
the first XRP back stable coin, enosis friendly fork of

(07:37):
Liquiity version two will allow you to mint stable coins,
collateralize to your f XRP, and then put those stable
coins to work to earn yield, make payments, buy NFTs,
use collateral, lend out. The sky is the limit. XRP
back stables fully decentralized and on chain on Flair.

Speaker 2 (07:55):
Now.

Speaker 1 (07:55):
I don't know if many of you saw, but I
published my interview with Hugo phillyon earlier today and we
talked a lot about these things, with enabling staking for
XRP and a lot of defied components with f XRP
and the timeline for that launch on MAInet, as well
as other assets like XLM and like cooin and bitcoin
and dochcoin and much more so.

Speaker 2 (08:15):
Lots of building happening. These are the facts.

Speaker 1 (08:18):
So I know I'm repeating myself here because I know
there's going to be people in the comments.

Speaker 2 (08:22):
Xrps a scam. No one's using XORP. No one's building
on an XRP ledger yet.

Speaker 1 (08:28):
I'm giving you the facts, right, no emotions. Just hey,
here it is. I'm serving up to you. It's your
decision what you want to do with that information. But
I'm bullish and XRP and I see a lot of
demand from institutional investors via the ETF and the futures markets.
So I think when the spottytf is approved, we're going
to see some really nice fireworks.

Speaker 2 (08:48):
It's going to bring a lot of inflows.

Speaker 1 (08:50):
And remember the spottytfs, they have to hold the respective asset,
the underlying assets. So just as the ETF inflows or
Bitcoin and e theorem helped with the price appreciation of
those assets, it will do the same for XRP. And
look also Solana right because Solana spottytfs I believe will
be approved because there's futures already in the market. So, guys,

(09:11):
ballmark is not over. We're going to see these all
coins rally and hit new highs.

Speaker 2 (09:16):
Just got to be patient.

Speaker 1 (09:17):
Now, folks. Quick word from our sponsor, and that is
v chain. V chain is one of the top layer
one enterprise blockchains out there, folks, and they're getting a
lot of adoption from big brands and companies around the world.
I'm a VET token holder, I have been since twenty eighteen.
I'm bullish on this project. Some of the key features
of the v chain blockchain includes it's secure, affordable, scalable, fast,

(09:38):
and sustainable. Some of the brands and companies working with
v chain includes Jivon, Chi, Walmart China, BMW, Boston Consultant
Group PwC. They're also partner with Dana White in the UFC.
Most recently, Dana Whites that he bought a million dollars
in the VET token, so they're doing a lot of
great things. They even recently launch staking via stargate. So

(09:59):
once again, I'm a believer in this project. I am
a token holder, have been for years, and I see
a lot.

Speaker 2 (10:05):
Of potential here.

Speaker 1 (10:06):
So if you'd like to learn more about v chain,
go to vchain dot org.

Speaker 2 (10:09):
Link will be in the description.

Speaker 1 (10:11):
Now, the ETF news continues. Grayscale submits a revised s
one for Dochcoin ETF as the New York Stock Exchange
ARCAS seeks to modify the firm's ethereum trust. So a
lot of these filers are preparing for approvals from the
SEC and they're updating their s ones and much more.
This is a very good sign. Now, yesterday's news, I

(10:32):
told you guys about the SEC approving gray Scales Digital
Large Cap Fund, which includes the top five crypto assets
that is Bitcoin, Etherorem, Salona, XRP, and Cardano. I actually
interviewed gray Scales head of research today. That interview will
be published next week and we talk all about it.
And that approval is a big signal because once again

(10:53):
it includes a bunch of ball coins Cardano, Solana XRP,
and it bodes well for the individual atf of Filings approvals. Right, So, guys,
we're seeing the stage set here for liftoff. I'm excited.
It's it's going to be a fun Q four. One
of the things I've been telling you all about is,

(11:14):
you know, we'll have to see if Q four is
a local top or the blow off top will monitor
global liquidity and all the different metrics.

Speaker 2 (11:20):
But you know, global.

Speaker 1 (11:21):
Liquidity is continuing to hit new highs and we'll have
to validate it with other metrics. Of course, you know,
we could see a local top in Q four and
a blow off top in Q one, not guaranteed just
a scenario. So as educated investors, we want to be
prepared for different scenarios because no one has a crystal ball,
but we at least want to validate our thesis with

(11:42):
data and navigate the market with data versus feelings and emotions. Oh,
it's up to day, is not no? No from the macro?
What's happening right? The short term and micro can certainly
fool you, right, we've seen market fakeouts, but the macro
you can really see the bigger trend, right, and you
use different data points if you use different chart analysis,

(12:03):
Elliott wave, Fibonacci extensions, You look at sentiment, you look
at Google trends, searches, you look at what the whales
are doing on chain data.

Speaker 2 (12:12):
Are they dumping? Are they continuing to accumulate?

Speaker 1 (12:15):
So these are the different factors we're going to look
at as we get closer. So come along on the
ride with me, guys, and look, I'm not the only one.
I don't claim to know everything, right, you want to
make sure you subscribe and listening to other people as well.
But as you know, on this podcast, we're not dealing
with conspiracy theories, fairy.

Speaker 2 (12:31):
Tales and all kinds of emotional nonsense.

Speaker 1 (12:33):
We're looking at data, the charts, and much more to
make sure we walk away from this bull market with
money in our pockets.

Speaker 2 (12:40):
If you want.

Speaker 1 (12:41):
Fairy tales and fancy stories, go somewhere else and good
luck to you. But if you want to look to
make money and make sure we are approaching this from
a smart, educated standpoint, then stay stay with me. Folks
going along the journey with me.

Speaker 2 (12:55):
Now look at this.

Speaker 1 (12:55):
US Treasury opens second round of comments on Genius Act implaynation. Now,
yesterday I told you all that I've been talking to
people in DC and many are saying the banks are
trying to change the language in the Genius Act because
they're getting disrupted, right, And I told you all that
Gary Genser he went on TV all of a sudden,
because he's a puppet, and don't be surprised, Elizabeth Warren

(13:18):
is right behind him with her BS talking points. So
they're trying to fight back. And the US Department of
Treasury on Thursday opened up a second period of public
comment on the implementation of the Genius Act, legislation aimed
at regulating stable coin payments in the US that was
signed into law by President Trump. In a Thursday Notice,

(13:39):
the Treasury said that though the Advanced Notice of Proposed
rulemaking was not required to implement the Genius Act, it
invited the public to comment on the stable coin law,
saying it would build upon its work. The Treasury officially
opened up comment in August, giving the public until October
seventeenth to submit concerns or feedback related to illicit activity.

(14:00):
The Thursday Notice provides a thirty one day a window
for comments. So let's see what they come out with
here and how they decide to implement this. But we've
got to watch out for these banks because again I'm
hearing in DC, they're trying to fight change laws. They
don't want you to earn yield on uphold or coinbase

(14:21):
or anywhere else. They want you to go through them.
And that's because right now, you know, you can earn
more via stable coins and staking and on these platforms
than you can in your checking and savings. Right the
banks have not been giving us any type of proper
interest for a long time, so disruptions at their doorset.
They need to catch up. They need to launch their
own stable coin and start offering people a better product

(14:42):
and returns so then maybe people can go that way
versus trying to go to political route and roadblock crypto.
But they've already lost. They've already lost. Right, the legislation's here,
cryptos opened up, the presidents on board, congresses on board.
So let's see how this plays out. Now, this is interesting.
Look at this. CFTC adds crypto leaders to Digital Asset Group.

(15:03):
JP Morgan executive tapped for co chair. This is very,
very interesting. The Commodities and Futurist Trading Commission, or the CFDC,
has appointed new members to its Global Markets Advisory Committee
and subcommittees, adding several crypto industry leaders to the Digital
Asset Markets Subcommittee, a move that underscores the regulator's continued

(15:27):
engagement with the sector. CFDC Acting Chair Caroline fam named
four new dam's members. Katherine Meronik, chief legal officer at
uniswap Labs, Avery chain co founder and chief Technology Officer
of Aptos Labs. James Hill, Managing Director and head of
Structure Innovation at bny Mellon, Ben Sherwin, General counsel at

(15:52):
chain Link Labs. In addition, Scott Lucas, head of Digital
Assets at JP Morgan was appointed co chair of the
DAMS alongside Sandy Call executive vice president and Franklin Temple
Does and so many of you may recall I had
Sandy Call on the podcast many times over the year.
They succeed Caroline Butler, who previously served as coach.

Speaker 2 (16:13):
Here.

Speaker 1 (16:14):
It's interesting to see both bank representatives and crypto native
crypto industry representatives participating in this council. How times have changed, right,
that's because the banks they are going all in on
crypto and as I mentioned before, they would love to
shut some of these small crypto startups and get them
out of the way so the bank so they can control

(16:35):
the market. But I think it's too late for that.
So very bullish news here. Look at this IG Group
buys majority stake in Australian Crypto Exchange Independent Reserve for
seventy two million dollars. So the mergers and acquisitions, the
big investments, the expansions happening globally here folks, A lot

(16:57):
of TRADIFI institutions and TRADFI investors recognize this is the
next big macro trade, this is the next tech wave
and they are putting their money in the market. So
online trading platform IG Group has acquired a majority stake
in Australian crypto exchange Independent Reserve for one hundred and
nine point six million Australian dollars, which is equivalent to

(17:19):
seventy two point four million dollars. The deal, the company said,
aims to strengthens IG's position in Asia Pacific's fast growing
crypto markets and complements its recent crypto rollouts in the
UK and US. This is what you want to see, folks.
This is signs of a maturing, healthy acid class in

(17:40):
the industry where capital is coming in and big players
coming in, buying up and trying to launch a service
and expand their service. So it is amazing what's happening.
Very bullish stuff here, all right, folks, that's the news.
Let me know what you think. Leave your thoughts and
comments below hit the thumbs up button.

Speaker 2 (17:56):
Folks.

Speaker 1 (17:57):
You can support me by subscribing to my free email
now that it is one hundred percent free. Check out
the link in the description. Also check out my book
on Amazon it is available in paperback, in digital, and
my course at mycryptocurse dot com. This is a comprehensive
course that teaches you every aspect of crypto so if
you'd like to expand your knowledge, knowledge is powered. This

(18:18):
is the course for you. Go to mycrypto course dot com. Folks,
thank you so much for watching and listening. I appreciate
you all and I'll talk to you all later

All Episodes

Episode Transcript

Popular Podcasts

On Purpose with Jay Shetty

Stuff You Should Know

The Joe Rogan Experience

.css-15opob5{left:0;position:absolute;top:0.8rem;} All Episodes

.css-14f5ked{margin:0;word-break:break-word;display:-webkit-box;-webkit-box-orient:vertical;box-orient:vertical;-webkit-line-clamp:2;overflow:hidden;}XRP & DOGECOIN ETFS SMASH RECORDS & FIRST XRP BACKED STABLECOIN!

Episode Transcript

Popular Podcasts

.css-r6mb8g{margin:0;word-break:break-word;display:-webkit-box;-webkit-box-orient:vertical;box-orient:vertical;-webkit-line-clamp:1;overflow:hidden;}On Purpose with Jay Shetty

Stuff You Should Know

The Joe Rogan Experience

All Episodes

XRP & DOGECOIN ETFS SMASH RECORDS & FIRST XRP BACKED STABLECOIN!

On Purpose with Jay Shetty