Bitcoin experienced significant volatility with a failed $126K breakout triggering $563M in liquidations, though its rally is still considered intact by some analysts. XRP faced substantial whale offloading, with 440 million tokens dumped and futures interest dropping, despite an unusual escrow lock. Solana's ecosystem showed strength with TVL hitting a record $42.4 billion and new treasury initiatives in Japan, even as network activity saw a 50% drop. Ethereum saw predictions of a potential bottom before a rally towards $5,500, while Phala announced a full migration to its L2.
Key Developments
- Bitcoin's failed $126K breakout led to $563M in liquidations, indicating high market volatility.
- XRP whales offloaded 440 million tokens, contributing to price struggles despite rising open interest.
- Solana's Total Value Locked (TVL) reached a record $42.4 billion, alongside new treasury initiatives in Japan.
- Phala Network is migrating fully to Ethereum L2, aiming to expand confidential AI and GPU compute services.
- C1 Fund acquired a stake in Ripple, signaling continued institutional interest in blockchain investments.
Next 6 Hour Outlook
The market is likely to see continued volatility in Bitcoin and XRP, while Solana's ecosystem growth may be tested by network activity concerns, and Ethereum could attempt a rally if it finds a bottom.