Crypto Outlook

-BTC: $26,019.48

-ETH: $1,650.14

-XRP: $0.5191

-LTC: $64.73

The global crypto market cap is $1.05T, a 0.12% increase over the last day. The total crypto market volume during the previous 24 hours is $16.87B, which makes a 12.04% increase.

BTC: BTC price increased by 0.15% and decreased by 0.44% over 24 hours and the past seven days. The asset reached a low and high of $25,965.10 and $26,165.37, respectively.

Charlie Munger, a close associate of Warren Buffett, shares his disapproval of cryptocurrency. He compared it to “rat poison” and wants cryptocurrencies to be banned, taking a cue from China’s approach.

He firmly believes that cryptocurrencies should not exist, stating that traditional currencies are essential for human progress. He opposes the idea of replacing real money with digital alternatives, comparing it to an absurd notion like replacing air.

Munger is a strong supporter of regular money and wants to stop cryptocurrencies completely. He strongly criticizes investing in cryptocurrencies, calling it unwise and dangerous. He wishes the US government would follow China’s lead and reject cryptocurrencies. He’s unhappy with the US decision to allow cryptocurrencies and has even compared them to diseases. Munger wants strict rules against cryptocurrencies to prevent fraud and protect people.

ETH: ETH price increased by 0.59% and decreased by 1.90% over 24 hours and the past seven days. The asset reached a low and high of $1,645.90 and $1,659.27, respectively.

Recent information from CREW (Citizens for Responsibility and Ethics in Washington) has revealed that former US President Donald Trump held an Ethereum wallet containing an estimated value of $250,000 to $500,000. However, the actual reported amount of cryptocurrency Donald Trump owns is approximately $2.8 million.

The disclosed figure surpasses the amount previously disclosed in an April 14 filing. The increased value stems from licensing fees associated with non-fungible token (NFT) collections featuring Trump NFTs. These ventures have collectively contributed to raising Trump’s net worth in the crypto realm to $7.6 million.

The ‘Trump Digital Trading Cards’ collection, established in December 2022, comprises 45,000 unique items that operate on the Polygon blockchain. This collection showcases various iterations of Donald Trump, including Astronaut Trump, Cowboy Trump, Superhero Trump, and Business Trump. Presently, the NFT collection consists of 14,302 ETH in total volume, with a base price of 0.1 ETH, and it boasts around 13,960 individual owners.

XRP: XRP price decreased by 0.65% and 3.02% over 24 hours and the past seven days. The asset reached a low and high of $0.5185 and $0.5296, respectively.

XRP is making remarkable strides, despite being classified as a security by the U.S. Securities and Exchange Commission (SEC). The recent favorable preliminary decision in the SEC and Ripple legal case has notably boosted XRP’s momentum, leading to noteworthy developments.

Signs suggest that South Korea could ramp up investments focusing on XRP and Ripple. A survey’s findings reveal an unprecedented surge in investment interest in XRP across all age groups, including individuals in their twenties.

Remarkably, even in the face of substantial regulatory pressures, XRP investors in South Korea appear undeterred. As a matter of fact, XRP currently stands out as one of the most preferred investment options among Korean investors.

LTC: LTC price decreased by 0.35% and 2.24% over 24 hours and the past seven days. The asset reached a low and high of $64.61 and $65.88, respectively.

In August, Litecoin underwent its anticipated halving event. Leading up to this, experts had been warning about potential risks associated with the cryptocurrency. About two months ago, these experts were cautioning that as the August halving date approached, there was a chance of the price dropping. This concern was based on observed price drops after the last two halvings.

Furthermore, for the past two months, experts have suggested that the price could remain around $40 for an extended period. It’s tough to predict accurately since only a month has passed since the halving. However, if Bitcoin doesn’t recover significantly, their predictions about this could prove correct.

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