Ripple (XRP Coin) Exits Investments in Bitstamp and Tranglo Amid Strategic Shifts

• Cryptocurrency giant Ripple appears to have exited its investments in Bitstamp and Tranglo.
• Binance has announced its support for Sei Network’s upcoming network upgrade.
• UXLINK is set to be listed on eight major trading platforms, including OKX and Bybit.

Stay updated with the latest developments in the cryptocurrency world, including strategic moves by Ripple, network upgrades by Binance, and new market entries by UXLINK.

Ripple Withdraws Investments from Bitstamp and Tranglo

Ripple, a leading name in global payments and financial solutions, seems to have divested its stakes in cryptocurrency exchange Bitstamp and cross-border payment hub Tranglo. This move has been updated on Crunchbase, marking significant exits related to XRP and the XRP Ledger. The exact reasons behind Ripple’s departure from Bitstamp remain unclear, though Robinhood’s recent acquisition of Bitstamp for $200 million might be a contributing factor. Speculation is rife about whether this acquisition could lead to XRP being listed on Robinhood’s platform.

Ripple’s Strategic Shift

Last year, Ripple had acquired Bitstamp from Pantera Capital for an undisclosed amount. Ripple’s president, Monica Long, noted that acquiring a stake in Bitstamp was a major step towards expanding Ripple’s global footprint beyond payments. However, the recent withdrawal from Tranglo has raised eyebrows within the community. Prominent XRP community experts, like Crypto Eri and WrathofKahneman, have called for more details to verify the data presented.

Binance to Support Sei Network’s Upgrade

In a significant announcement, Binance has revealed its support for Sei Network’s upcoming network upgrade. To facilitate this process, Binance will temporarily suspend deposits and withdrawals for SEI tokens starting from 15th July 2024, 18:30 UTC. The upgrade is scheduled to take place at 19:30 UTC on the same day. Once the upgraded network is considered stable, Binance will resume SEI token deposits and withdrawals without further announcements.

UXLINK to be Listed on Eight Trading Platforms

Web3 social platform and infrastructure provider, UXLINK, has announced its listing on eight major trading platforms, including OKX, Bybit, Gate, Bitget, KuCoin, HTX, HashKey Global, and BFX. The listing will go live on 18th July. UXLINK, which boasts over 15 million registered users, including 8 million on-chain users, continues to invest its profits back into its community and ecosystem. The platform’s governance token, UXLINK, plays a vital role in both social growth and transaction fee payments within the ecosystem.

Solana Ecosystem Update: Jupiter Announces CLOUD Token Launch

Solana’s transaction aggregator, Jupiter, has announced the launch of the Sanctum token, CLOUD, scheduled for 18th July. Earlier, the project had detailed CLOUD’s tokenomics, designating 10% of the token supply for the initial airdrop. The launch event will include a “Liftoff Call,” featuring key figures discussing Sanctum’s vision and roadmap.

Grayscale Transfers Significant Amount of Crypto to Coinbase

According to data from Arkham, Grayscale recently transferred approximately 1,400 BTC worth $88.14 million to two unmarked addresses. In a separate, near-simultaneous transaction, Grayscale sent 399,539 ETH, valued around $1.34 million, to Coinbase Prime. These significant movements highlight ongoing strategic maneuvers by one of the largest cryptocurrency asset managers.

Conclusion

The latest actions by Ripple, Binance, and UXLINK indicate strategic shifts and initiatives that could shape the future of cryptocurrency markets. As Ripple recalibrates its investments, Binance supports network advancements, and UXLINK expands its market presence, staying informed on these developments is crucial for market participants and observers alike.