π’ The U.S. Strategic Petroleum Reserve declined by roughly 8.6 million barrels last week, marking the largest weekly drawdown on record and extending its streak to seven straight weeks of declines.
π’ According to Santiment, XRP whales are accumulating at their strongest pace since 2018, now holding 45.83B tokens valued at $68.5B as XRP targets the $1.50 level.
π’ According to Santiment, Bitcoin exchange supply remains at 5.6%, its lowest level since 2018, while Ethereum exchange supply has risen slightly to 4.6%.
π’ Grayscale Investments Research says persistent U.S. inflation and postponed Fed rate cuts could drive greater adoption of tokenized fixed-income products while increasing revenues for stablecoin issuers.