Daily on-chain Briefing | August 5

Market Overview:

The "Crypto Fear and Greed Index" is currently at 60, in the "Greed" range. Although a "Greed" value above 50 indicates a bullish market, it also warns of potential over-optimism that may bring adjustment risks.

Today's News:

1. XRP is expected to experience explosive growth in August.

Analysts predict that with Ripple expected to reach a settlement with the U.S. Securities and Exchange Commission (SEC) on August 15, and the upgrade to XRPL v2.5.0 promoting enterprise adoption, the price of XRP is likely to break through $3.50 and even reach above $5.00. Technical indicators show a bullish signal with the 50-day moving average, the current price is $3.05, and the 24-hour increase is 2.28%.

Impact: Investors should be cautious of price fluctuations and regulatory uncertainties, as market opinions remain divided.

2. Blockchain lending platform Figure Technology submits IPO application

Figure Technology Solutions, co-founded by Mike Cagney, recently submitted a confidential draft registration statement to the U.S. Securities and Exchange Commission, planning to go public later in 2025. The company focuses on blockchain-driven lending services, such as home equity lines of credit (HELOC) and asset tokenization, with partners including Goldman Sachs and a valuation of $3 billion.

Impact: This IPO is expected to enhance the industry's recognition of blockchain financial services, but its success still depends on the market environment and regulatory attitude.

Choose the right track and run together for the long term.

No matter how the market fluctuates, remember to stay rational, manage risks well, and don't let emotions influence your investment decisions.

Wish you a smooth trading experience, and always remember to DYOR!