Funding rates at 3-year lows, $193M in long liquidations, and a confirmed XRP double top add to the bearish pressure as crypto markets brace for a historic convergence of geopolitical and derivatives catalysts.
The court said past cases like Tornado Cash and Samourai Wallet involved alleged money laundering, making them not directly comparable to Lewellen’s planned software.
The CLARITY Act draft would ban stablecoin yield and limit crypto rewards, drawing renewed opposition from Coinbase over its impact on users and revenue.
The token is especially notable due to its mammoth market capitalization, currently sitting at $1.53 billion as well as 24 hour trading volume of $64.75 million.