🐾 DogeCoin is Coming on X!

Happy Monday dear subscribers! In today’s Newsletter, Dogecoin on X?

In today's bulletin, we are covering:

• Surfing the Market, with analysis about XRP and Big Caps Index

• Don't miss the News about Dogecoin on X and XRP

• BRIDGE is under the spotlight.

• A short article about The Purchasing Power of the Dollar

What if the $XRP ETF gets approved now that Gary Gensler is out of the SEC... 👀

Strong weekend with many coins pushing again. If we focus on the Big Caps Index we can see how the $140 range continues to be a really strong resistance, so it will probably need a bit more of consolidation before the next breakout attempt:

As mentioned previously, not necessarily a bad thing. Consolidating ranges on the way up is extremely important.

Dogecoin Surges Amid Speculation on Elon Musk's X Payments

Dogecoin (DOGE) jumped 5.4%, reaching multi-year highs, fueled by speculation about a possible payments feature on Elon Musk's X platform.

Musk’s history with DOGE and hints of digital asset integration into X Payments drive investor excitement.

• DOGE Price Surge: Gained 5.4% in 24 hours and is up 190% over the past month, hitting levels unseen since May 2021.

• Elon Musk's Role: Speculation arose after Musk posted a screenshot with a new dollar icon on X, sparking rumors about a payments feature.

• Potential for DOGE Integration:

  • Musk’s Tesla already accepts DOGE for merchandise.

  • X Payments LLC holds money-transmitting licenses in most U.S. states, excluding New York.

  • Crypto enthusiasts anticipate possible DOGE use in the payment system.

• Market Impact: DOGE outperformed flat Bitcoin (BTC) prices in the same period.

Elon Musk’s connection to DOGE and the potential for its integration into X Payments continue to fuel speculation and price momentum for the memecoin.

XRP Becomes Third-Largest Cryptocurrency Amid Market Surge

XRP surpassed Tether (USDT) to become the third-largest cryptocurrency by market capitalization, reaching $141.8 billion after a 30% price surge in 24 hours and 364.1% over the past month. The rally is fueled by regulatory developments, including Ripple's RLUSD stablecoin approval and SEC Chair Gary Gensler’s announced departure.

• Market Performance: XRP’s price hit $2.46, with its market cap exceeding USDT’s $134.5 billion.

• Regulatory Drivers:

  • Anticipation of the New York Department of Financial Services’ approval of Ripple's RLUSD stablecoin, potentially launching Dec. 4.

  • SEC Chair Gary Gensler’s resignation may ease Ripple’s ongoing legal battle with the SEC.

• Ecosystem Development:

  • Ripple could focus on expanding XRP Ledger’s ecosystem, leveraging RLUSD without SEC lawsuit distractions.

  • Spot XRP ETFs from firms like 21Shares, Canary Capital, and Bitwise remain under consideration.

XRP’s growth is tied to regulatory progress and potential ecosystem expansion, signalling stronger market positioning amidst evolving cryptocurrency dynamics.

BRIDGE

The Origins:

Bridge is a payments platform, supporting a variety of stablecoin use cases, particularly focused on global B2B (business-to-business) payments looking to simplify global money movement.

Is located in San Francisco (US) and was founded in 2022 by Zach Abrams and Sean Yu who previously founded Evenly, a peer-to-peer (P2P) payments company that was acquired by Square in 2013.

The project makes it possible to convert different fiat currencies into stablecoins and to facilitate global transactions instantly with integrated programmability and compliance features.

The Operative:

Stablecoins have emerged as one of the most important applications in the Web3 space with $8.5 trillion in transaction volume across 1.1 billion transactions in the second quarter of 2024. And Bridge enables on and off-ramping in numerous currencies around the world, which can be converted to stablecoins for cross border payments.

Developers can create new money movement experiences by converting between stablecoins across different networks using Bridge APIs. At the same time Web users interactions are much more convenient.

Bridge’s API also helps users to issue their stablecoins and offers an investment option in US Treasury bonds with a current yield of 5%.

• Stablecoin orchestration APIs enable:

  • AI agents that autonomously orchestrate stablecoin swaps for remittance payments.

  • Treasury solutions that optimize FX settlement using USDT & USDC for businesses.

  • Embedded finance tools that simplify payouts for global gig workers.

Bridge 's ultimate objective is to allow users to transfer funds globally in minutes, send stablecoin payments, convert local fiat currency to stablecoins, and provide USD, EUR, MXN, etc. accounts for consumers and businesses worldwide, allowing them to save and spend in these currencies.

Summary & Competitors:

Bridge is currently working with some companies like SpaceX that use it to receive payments in different currencies in various jurisdictions and transfer them to its global treasury using stablecoins.

Bridge recently raised a total funding of $58 million in various series led by Sequoia Capital, Ribbit Capital, Index Ventures, Haun Ventures and others. Bridge was acquired by Stripe on Oct 21, 2024 at an acquisition amount of $1.1 billion.

Top competitors of Bridge include:

• Ampleforth: Price stable cryptocurrency for transactions.

• GooGwai Global: Decentralized financial payment network

• Ample Coin: Provider of cryptocurrency platform offering stablecoin

• Vesta: Stable coin network

Stablecoins are the clearest example of a RWA utility use case with a year-over-year growth rate of over 50% and global transaction volumes that have already surpassed Visa by more than double. The potential for stablecoins to be used for remittances, cross-border payments, payroll, trading, and merchant settlements is huge. Stablecoins could represent one of the largest financial empowerment movements in history.

Purchasing Power of the Dollar

We can all agree that the dollar has been the world’s benchmark currency for decades and will likely remain so. However, that doesn’t mean it is a store of value. Let’s explore why and what this implies.

Why the Dollar?

The U.S. is the most important economy in the world, and its currency holds the same status. This dominance is based on the country’s size, efficiency, development, innovation, and military power 🪖 

The dollar is widely used as a reference in international trade (with some exceptions) and directly influences global markets with fluctuations in its value. However, what’s striking is that the dollar has consistently lost value over the years due to several factors:

• Money Printing 

• Deficit 

• Debt 

• COVID 

If we look at the numbers, the U.S. printed 80% of its dollars in the last three years alone 💸 a clear reflection of the impact of COVID. Similarly, U.S. debt reached $34 trillion for the first time in history in June, climbed to $35 trillion by July, and is projected to close 2024 at $36 trillion 👀 

Moreover, Trump’s proposed economic plan is expansionary and inflationary, suggesting that this trend will continue ♾️

The Impact on the Dollar

These numbers directly impact the dollar’s value. Over the past 30 years, the dollar’s purchasing power has dropped by 50% 🚨 Yes, you read that correctly: today, you can buy half the goods you could 30 years ago with the same amount of money 😭 

This clearly shows that holding dollars as a long-term store of value has not been a good strategy for years. Even in countries with weaker currencies, like Argentina 🇦🇷 people are increasingly aware of the dollar’s declining value and often seek investments to offset this loss through returns 🧐 

The Role of Markets and Investments

Over the past 30 years, the S&P 500, adjusted for inflation, has delivered a return of +972%, compared to the dollar’s -50% 🔥 

Similarly, Bitcoin plays a significant role in this conversation. Its value, hovering around $100K and potentially heading much higher, is partly explained by the dollar’s constant depreciation .

Additionally, Bitcoin’s limited supply creates a powerful and bullish combination for the long term 🚀 

Gold offers another example, currently trading at all-time highs of $2,600. This is a clear sign that investors are seeking a store of value.

This highlights why it’s always advisable to invest savings rather than leaving them idle in a safety deposit box or bank account. The gradual and silent erosion of the dollar’s value is relentless.

A great analogy is the boiling frog: if you place a live frog in a pot of cold water and gradually heat it, the frog won’t notice until it’s too late and gets cooked 🐸 

Despite all this, the dollar remains the world’s benchmark currency (even for the most fundamentalist crypto enthusiasts, as the goods they consume are often valued in dollars) and will likely maintain this status as long as the U.S. remains the world’s leading power 🫡 

As investors, the only way to counteract the dollar’s declining purchasing power is to invest, either in low-risk instruments like bonds that match inflation or in assets with higher returns that grow your capital 💰

Being in the market is not just advisable—it’s essential!

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