U.Today – U.Today presents the three most important news of the last day.
(DOGE) “very optimistic,” says recent report
In a recent post from Dogecoin and. As explained in the report, the lower a cryptocurrency's MVRV, the better its chances of enjoying a short-term price bounce in the future. The lowest MVRV was seen for Dogecoin, -16.7%, which basically means “very bullish”; The second cryptocurrency after DOGE in terms of “optimism” is ADA, with -12.6%. Readings for the remaining cryptocurrencies on this list (, and Toncoin) are “neutral” and “slightly bullish.”
XRP vs. Ethereum: SEC decision ignites fury in the XRP community
According to a recent announcement from Consensys, the SEC has concluded its investigation into Ethereum. Although this development is a huge victory for both the second-largest digital asset and the entire crypto industry, the XRP community is not celebrating it as vividly as others. The reason for this lies in the long-standing “dispute” between XRP and ETH, stemming from the so-called “ETHGate”, or the alleged preferential treatment that Ethereum received from the SEC at the expense of XRP and other cryptocurrencies. XRP enthusiast and advocate Bill Morgan expressed his disapproval of the SEC's prioritization of ETH in a recent X post, noting that this is Ethereum's second “free pass” by the regulator. “The different treatment of Ethereum and Ripple will forever show how arbitrary the SEC has been in the cryptocurrency space,” Morgan said.
Schiff mentions surprising reason why Nvidia's rise is bearish for Bitcoin
On Tuesday, June 18, it was reported that Nvidia (NASDAQ:), an American technology company known for its advanced GPU microchips, became the world's largest public company by market capitalization, surpassing Microsoft (NASDAQ:). Following the achievement, Peter Schiff, a prominent Bitcoin critic, took this breaking news as another opportunity to pour cold water on the flagship cryptocurrency. Schiff used his X to argue that Nvidia's rise is in fact bearish for Bitcoin, pointing out the lack of usefulness of the largest cryptocurrency. As proof, he wrote that Nvidia GPUs contain “0.1 to 0.3 grams of gold” but “zero sats.” Additionally, Schiff said that Bitcoin actually needs gold because of GPU mining: “Bitcoin needs gold. Gold doesn't need Bitcoin. Nothing needs Bitcoin,” he said.
This article was originally published on U.Today.
