Ripple’s RLUSD: A Turning Point in DeFi

Also: Hex founder’s luxury collection seized

GM. Welcome to the Daily Squeeze, where we juggle crypto pineapples and hope we don’t get hit in the face.

🤝 Ripple partners with Chainlink.

🌎 The crypto movements of Bhutan and El Salvador.

🍋 News: Police confiscate Hex founder’s luxury watches, Coinbase gets mini-W in court, and more

🍍 Taste of the market today

Do you remember when everything seemed simple? Yes, neither do we. Welcome to another day where cryptocurrencies serve drama on a silver platter 🍽️

The Fear and Greed Index is still hovering around Greed at 70: optimism is alive, although it is slightly lower than before. Meanwhile, bitcoin couldn’t hold more than $100K.

CryptoQuant contributor Darkfost noticed an increase in BTC sell orders on Binance – and high selling pressure can drive prices down if buyers don’t participate.

On top of that, BTC has been moving in sync with stocks lately, which ran into trouble after new US data showed more vacancies than expected and stronger growth in the services sector.

This means the economy looks strong = The Federal Reserve may not cut interest rates as quickly. And when rates stay high, investors tend to avoid riskier assets like cryptocurrencies.

On the other hand, CryptoQuant CEO Ki Young Ju points out something called Apparent demand – basically the difference between new Bitcoin being mined and Bitcoin supply changes that have remained unchanged for over a year.

When more idle BTC starts moving than what is being created, it shows strong buyer interest absorbing the available offer.

According to Ki, that demand remains strong, which is generally a good sign.

Then there is a bullish whisper of Matt Hogan at Fidelity Digital Assets.

Hogan says BTC spot ETFs have generated increased institutional and retail interest, and he expects this trend to accelerate this year. he predicts more nation-states, central banks and sovereign wealth funds will start building positions in BTC.

So, keep your seat at the table. Because with cryptocurrencies, the menu always changes. What is drama today could be sweet tomorrow 😋

🥝 Harvest of memecoins

These memecoins are working overtime to prove that jokes can pay the bills.

	Name		24H change
	Crypto Broker Trading CATG		▲ 10.7K%
	Percy Verence PERCY		▲ 213%
	360noscope420blaze mlg		▲ 57%
	nubcat BOSS		▲ 45%

Data at 08:25 am EST.

Check out these memecoins and many more here.

Ripple has been working like a dog day and night do RLUSD he It is a stable currency.

Launched last month, this dollar-pegged champion already has a market capitalization of over $53 million and is strutting its stuff on platforms like DefendBitstamp, Bitso, lunar paymentand CoinMENA (with more to come).

Now, Ripple is trying to level up its DeFi game with a little help from Chainlink.

In DeFi, people use financial services – how to lend, borrow and trade – directly on the blockchain; No banks or intermediaries are needed. These services are based on smart contracts: and for them to do their thing correctly, they need reliable data.

Let’s say you’re borrowing crypto – the platform needs to know the exact value of your collateral. Because if you have bad prices, the game is over – You may be unfairly liquidated or allowed to borrow too much, which could ruin the system. Not cute.

That’s where Chainlink comes in: it’s a decentralized oracle network that connect blockchains with real world data.

For RLUSD, Chainlink’s Price Feeds provide DeFi applications with accurate real-time prices, so developers can use RLUSD in smart contracts for trading, lending or liquidity pools with confidence.

Best utility? Check. Wider adoption? Check again! That’s the “I came, I saw, I conquered” attitude we love to see 🥰

❤️ Every day with crypto is a great day

Come on Mr. 305 Mr. World mode for a second and take a look at some country updates that understand 🌏

1/ Bhutan

Bhutan’s Gelephu Special Administrative Region (SAR), also known as Gelephu Mindfulness City (GMC), plans includes Bitcoin, Etherand BNB in its strategic reserves.

They are planning to discuss this master plan with senior government officials and global industry leaders in March.

Oh, and the country already trampling $1.12 billion in BTC and $2.2 million in ETH. Iconic.

2/ El Salvador

El Salvador is once again in the spotlight Bitfinex derivatives arm obtained a Digital Asset Service Providers (DASP) license – so they are moving from Seychelles to El Salvador.

The country’s licensing regime allows companies to tokenize assets such as funds, debt, stocks and real estate, making it easier to raise capital and offer innovative financial products.

Bitfinex called this move a step forward in Transforming El Salvador into a financial center for Latin America..

So, Valley could also represent Decentralize and liberate economies – and WE ARE HERE FOR THAT 🗣

🍋 News falls

⌚️ Finnish police confiscated luxury watches worth $2.6 million from Richard Heart, the founder of Hex wanted for tax evasion and assault. They have their drip, but he doesn’t. – He is still on Europe’s most wanted list.

⚖️ Coinbase got a mini-W against the SEC. A judge agreed to allow them to appeal a decision on whether some crypto transactions count as securities.

🤖 Nvidia launched its smallest and most powerful artificial intelligence supercomputer yet. But it turns out that Not even the most advanced technology can save your stocks when the entire market is in a bad mood.

⛔️ Kazakhstan was not messing around in 2024. They shut down 36 illegal crypto exchanges as part of their war against money laundering.

🤫 Telegram spilled the tea on 900 information requests from US users – most of them after CEO Pavel Durov was arrested in France.

🔍 Your search for the best crypto exchange ends now – we’ve prepared a guide to help you find a CEX that could be the one.

🍌 Juicy memes