| Reading time: 5 minutes | News | Crypto Converter | Crypto Calculators | Raydium unveils LaunchLab: Solana's new memecoin rivalry heats up | | Key points: | Raydium's RAY token surged over 15% following the announcement of LaunchLab, a token issuance platform set to rival Pump.fun. LaunchLab introduces advanced token pricing through three customizable bonding curves and integration capabilities for third-party interfaces.
| News - Solana-based decentralized exchange Raydium is entering the memecoin launchpad arena with the announcement of LaunchLab, a token issuance platform. The news spurred a significant rally, boosting the price of Raydium's native token, RAY, by over 13% within 24 hours, outperforming the broader crypto market. | LaunchLab will feature three distinct bonding curves—linear, exponential, and logarithmic—allowing dynamic price adjustments based on token demand. This innovative approach lets issuers set the trajectory of their token prices, a significant upgrade from competitors like Pump.fun. Moreover, LaunchLab enables third-party user interfaces to set their own fees, offering greater flexibility and encouraging widespread adoption across various platforms. | Strategic move amidst Pump.fun split - The timing of LaunchLab's rollout is particularly notable. Pump.fun recently signaled its intent to build an independent Automated Market Maker (AMM), a move perceived as distancing itself from Raydium, from which it previously drew substantial liquidity. Pump.fun tokens previously accounted for approximately 30% of Raydium's daily trading volume, highlighting the significant financial implications of the split. | However, Raydium's developer, @0xINFRA, clarified that LaunchLab isn't meant to directly replace or undermine Pump.fun. Instead, it serves as an enhancement aimed at enriching the broader Solana ecosystem. | Competition and user experience concerns - As the memecoin sector struggles—down around 65% from its December 2024 peak—launchpad competition intensifies. Platforms like Pump.fun have thrived largely due to strong community engagement, posing a challenge Raydium must overcome. Analysts have highlighted that user experience, community engagement, and product quality often dictate long-term success, areas where LaunchLab will need to prove itself. | What's next? - LaunchLab marks the first step in Raydium's broader vision to streamline token creation and liquidity management on Solana. Its reception in the crypto community could set the tone for Raydium's market position moving forward. | Ripple triumphs as SEC ends XRP lawsuit: XRP surges over 10% | | Key points: | Ripple CEO Brad Garlinghouse announced the SEC will drop its appeal, marking the end of a lengthy legal battle over XRP. XRP's price jumped more than 10% immediately following the announcement, signaling renewed market optimism.
| News - Ripple has secured a decisive victory as the U.S. Securities and Exchange Commission (SEC) decided to withdraw its appeal and drop the longstanding lawsuit against the company. CEO Brad Garlinghouse broke the news during the Digital Asset Summit, declaring, "This is it—the moment we've been waiting for. It's over." | The SEC initially filed the lawsuit in December 2020, alleging Ripple had raised $1.3 billion through unregistered securities sales of XRP tokens. In July 2023, U.S. District Judge Analisa Torres partially ruled in Ripple's favor, stating XRP sales to retail investors were not securities transactions. However, Ripple was fined $125 million for institutional sales violations. | Garlinghouse emphasized gratitude toward Ripple's legal team, supporters, partners, and the broader XRP community. He described the SEC's decision as a "resounding victory" for both Ripple and the wider crypto industry, setting a crucial precedent for cryptocurrency regulation in the U.S. | Market response and regulatory outlook - XRP's market reaction was immediate, surging over 10% to reach $2.55 shortly after the announcement. The broader crypto market also saw gains, reflecting investor relief and renewed confidence. | The SEC's withdrawal aligns with a recent trend under Acting Chair Mark Uyeda, who has pulled back several high-profile crypto enforcement actions. The decision significantly boosts prospects for an XRP-based ETF approval, with Bloomberg analysts previously estimating a 65-75% chance by year-end. | What's next? - With the Ripple lawsuit concluded, attention shifts to the SEC's evolving crypto regulatory strategy and the potential classification of XRP as a commodity, akin to Bitcoin and Ethereum. | Ethereum rallies 7%, yet market signals mixed ahead of FOMC | | Key points: | Ethereum surged by nearly 7% amid anticipation of the Federal Open Market Committee (FOMC) meeting outcome. Despite recent gains, Ethereum faces pressure from ETF outflows, potential technical weakness, and profit-taking by major players.
| News - Ethereum (ETH) experienced a notable 7% gain over the past 24 hours, leading major cryptocurrencies higher as traders await critical announcements from the Federal Open Market Committee (FOMC). Bitcoin, in contrast, remained relatively stable just below the $84,000 mark, with investors closely monitoring the pivotal support level of $80,000. | The ETH/BTC trading pair rose modestly from 0.23 to 0.24, reflecting increased investor appetite for Ethereum's higher risk-reward potential versus Bitcoin's perceived safety. | Ethereum's immediate price boost coincided with broader gains across altcoins, including Dogecoin (DOGE), Solana (SOL), and Cardano (ADA), all registering gains around 3-4%. Analysts attribute Ethereum's upward movement to technical optimism around the upcoming Pectra network upgrade, aimed at significantly enhancing scalability and user experience through features like smart account functionality and increased staking limits. | Underlying market concerns remain - Despite the short-term bullish momentum, Ethereum faces underlying challenges. Notably, the Ethereum spot ETF recorded significant outflows, with nearly 49,000 ETH withdrawn in the past 48 hours, highlighting declining institutional confidence. | Further complicating Ethereum's outlook, Standard Chartered recently lowered its 2025 ETH price target from $10,000 to $4,000, citing proactive selling by Coinbase. Coinbase reportedly sold approximately $37 million worth of ETH in Q4 2024, driven by profit-taking from its Layer-2 platform, Base, which indirectly pressured ETH's price. | Technical indicators also suggest volatility ahead, with Ethereum potentially at risk of testing lower support levels around $1,745 or below if bearish pressures persist. | What's next? - Ethereum's near-term price trajectory hinges heavily on macroeconomic signals from the upcoming FOMC meeting, ETF flows, and successful implementation of the Pectra upgrade. Investors will closely monitor these events to gauge Ethereum's resilience amid mixed market conditions. | North Dakota tightens grip on crypto ATMs: Imposes $2,000 daily transaction limit | | Key points: | North Dakota's Senate has approved a bill creating strict licensing and regulatory measures for crypto ATM operators. The new bill mandates blockchain analytics usage, transaction limits, and heightened compliance protocols to curb crypto-related fraud.
| News - North Dakota's Senate has passed House Bill 1447, establishing strict regulations for crypto ATM operators in the state. The bill requires operators to obtain money transmitter licenses, enforce daily transaction limits of $2,000 per user, issue fraud warnings, and use blockchain analytics tools to detect suspicious activities. | This regulatory move is aimed at combating rapidly growing crypto-related fraud and illicit activities. According to recent reports from TRM Labs, crypto ATMs have been implicated in facilitating at least $160 million in illicit transactions since 2019. Additionally, the Federal Trade Commission (FTC) highlighted a nearly tenfold increase in Bitcoin ATM-related scams since last year, totaling millions in consumer losses. | Initially, the North Dakota House proposed a looser daily transaction limit, but the Senate tightened it to $2,000 per day, emphasizing the importance of protecting consumers and limiting exposure to potential scams. Operators must now also appoint compliance officers and provide quarterly reports on their kiosk locations and transaction activities. | National and international context - The U.S. has nearly 30,000 crypto ATMs—representing approximately 78% of the global market. However, growing regulatory scrutiny and criminal activities have raised concerns. Recently, the UK prosecuted its first crypto ATM-related fraud case, sentencing the operator to four years in prison. | What's next? - North Dakota's rigorous approach to crypto ATM regulation may set a precedent for other states and influence potential federal legislation, as authorities seek greater oversight of the crypto industry to protect consumers and prevent fraud. | | More stories from the crypto ecosystem | | Did you know | North Korea has become the third-largest holder of Bitcoin globally, with its cyber-hacking group, Lazarus, possessing approximately 13,580 BTC, valued at around £886 million. These funds are believed to support the nation's nuclear and ballistic missile programs. Crypto exchange Kraken has received approval from the UK's Financial Conduct Authority (FCA) to offer electronic money services. This authorization allows Kraken to issue electronic money and facilitate client transactions, enhancing its ability to support customers facing banking restrictions. The move signifies a step toward integrating cryptocurrency services with traditional financial systems in the UK. Abu Dhabi's investment group, MGX, has invested $2 billion in cryptocurrency into Binance, marking the first institutional investment for the world's largest cryptocurrency exchange. This move aligns with the UAE's goal of becoming a global hub for digital assets and highlights Binance's strategic focus on the region.
| | Top 3 coins of the day | Raydium (RAY) | | Key points: | At press time, RAY was trading at $1.86, reflecting a 4.27% decline over the last 24 hours. Despite recent bullish momentum from the Launchpad announcement, resistance near $2.10 remains a crucial level to surpass.
| What you should know: | Raydium saw a price dip despite recent excitement around its LaunchLab platform, which aims to facilitate token issuance for new projects. This announcement initially triggered a strong rally, with RAY surging over 28% at one point. However, profit-taking and broader market conditions led to a cooldown. Technical indicators suggested mixed signals. The Parabolic SAR remained below the price candles, hinting at an ongoing recovery, while the MACD histogram showed reduced bearish momentum, indicating potential stabilization. Trading volume remained steady, implying continued interest but also caution among investors. If RAY can hold its ground above $1.80, a push toward the $2.10 resistance level could be expected. On the downside, a drop below $1.70 could invalidate the recovery trend and invite further selling pressure. Traders should monitor developments related to Raydium's ecosystem expansion for potential price catalysts. | XRP (XRP) | | Key points: | At press time, XRP was trading at $2.56, reflecting a 12.05% increase over the last 24 hours. The price surge followed reports that the SEC will drop its lawsuit against Ripple, boosting investor sentiment.
| What you should know: | XRP saw a strong upward movement as news emerged that the U.S. Securities and Exchange Commission (SEC) is set to drop its lawsuit against Ripple, as confirmed by CEO Brad Garlinghouse. This development significantly boosted investor confidence, leading to a double-digit price increase in a short period. The Bollinger Bands expanded, reflecting increased volatility, while XRP's price moved toward the upper band, suggesting strong bullish momentum. The MACD indicator showed a bullish crossover, signaling potential for continued upward movement. However, trading volume remained moderate, indicating some caution among investors. If XRP sustains its momentum, the next resistance level to watch would be near $2.75, while immediate support lies at $2.30. A break below support could see a retracement, but the ongoing legal clarity surrounding Ripple could continue to drive XRP's bullish outlook. | BNB (BNB) | | Key points: | At press time, BNB was trading at $609, reflecting a 2.89% decline over the last 24 hours. Despite the recent dip, BNB remained above the 9-day SMA, with the RSI at 50.90, indicating neutral momentum.
| What you should know: | BNB experienced a pullback after testing the $628 level, marking a 2.89% decline in the last 24 hours. However, it managed to stay above the 9-day Simple Moving Average (SMA), suggesting that the overall trend had not yet turned bearish. The Relative Strength Index (RSI) hovered around 50.90, reflecting a neutral stance where neither bulls nor bears had full control. Trading volume remained stable, indicating that investors were cautiously observing BNB's movement before making further moves. If bullish momentum resurfaces, the next resistance level to watch is near $640, whereas a drop below the $590 support level could lead to extended losses. Traders should monitor market developments for additional cues on BNB's direction. | How was today's newsletter? | |
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