Bitcoin's sluggish trading near the $75,000 mark has shifted the focus to other notable crypto projects. XRP, a payments-focused token, has seen a surge in demand, with U.S.-listed spot XRP ETFs attracting over $17 million in inflows.
This resurgence is further bolstered by Ripple's partnership with Kyobo Life Insurance to launch a real-time tokenized government bond settlement system on blockchain. Additionally, XRP's derivatives market is exhibiting bullish signals, with rising open interest and positive funding rates. The total value locked in Plasma, a stablecoin-focused layer-1 blockchain, has increased by 27% over the past week and 80% over the past 30 days, making it the seventh-largest blockchain. This growth may be linked to the potential approval of the CLARITY Act, a U.S.
bill aiming to clarify digital asset regulations. Furthermore, Plasma has been selected to support Tether's new self-custody wallet.
Meanwhile, DOGE's Bollinger Bands are at their tightest since February 2024, indicating a period of low volatility that may soon lead to significant price swings. As for bitcoin, the combination of on-chain profit-taking, uneven spot demand, and cautious options suggests continued range-bound trading near $75,000.