Tether’s XAUt tokenized gold now accounts for more than half of the gold-backed stablecoin market as the US dollar weakens amid renewed safe-haven demand. The market for tokenized gold is expanding in step with rising demand for physical bullion, highlighting a broader shift toward traditional safe-haven assets as geopolitical tensions and trade uncertainty push investors away from the US dollar. On Monday, Tether said its Tether Gold (XAUt) now represents more than half of the entire gold-backed stablecoin market, with a total value exceeding $2.2 billion. Tether disclosed that 520,089 XAUt tokens were in circulation at the end of the fourth quarter, with each token backed one-for-one by physical gold held in reserve. Read more
Traders continue to defend the lowest support levels in Bitcoin and altcoins, but sellers at the range highs and declining sentiment across the market may complicate a quick recovery. Key points: Bitcoin is attempting a recovery, but higher levels are likely to attract solid selling by the bears. Several major altcoins are at risk of breaking below their support levels. Read more
XRP is holding the $1.80-$2 support, with multiple indicators suggesting an extended sideways price action before a “liftoff” toward double figures. XRP (XRP) may see another sharp rise to a double-digit price, but similar market setups in 2022 and 2017 pointed to an extended consolidation period before this happens. Key takeaways: XRP macro setup targets $10, but an extended consolidation is required before any sharp liftoff. Read more
Ripple’s agreement with Riyad Bank highlights growing institutional interest in blockchain for payments, custody and tokenization across global financial markets. Ripple has partnered with the innovation arm of Riyad Bank, a major Saudi financial institution, to explore the use of blockchain technology within the country’s financial system, signaling growing interest in blockchain-based infrastructure at the institutional level. The partnership was announced Monday by Reece Merrick, Ripple’s senior executive officer and managing director for the Middle East and Africa. Merrick said Ripple is working with Jeel, Riyad Bank’s innovation unit, as part of an agreement to study potential applications of blockchain technology. The arrangement will take the form of a memorandum of understanding that focuses on cross-border payments, digital asset custody and asset tokenization. These efforts are intended to support Vision 2030, Saudi Arabia’s long-term strategy to modernize its economy and financial infrastructure wh...