Solana and Visa partner up!

GM blurtl gang! If you’re still here, good on you.

It’s been a rocky couple of months for investors, and there’s a good chance some of the people here this time last year haven’t made it through the storm.

We’re playing the long game, though. We’re not here for a quick buck — we’re here to build and provide value while our beloved Bitcoin is getting battered.

WHAT’S HAPPENING TODAY?

• Solana announces partnership with Visa

• Ripple’s XRP deemed “valueless” by the SEC

• Is the Bitcoin halving irrelevant?

Solana and Visa partner up

Solana led the pack yesterday, after the protocol announced its partnership with Visa. According to the announcement — Visa will be using the Solana blockchain as a settlement layer for its pilot program for enterprise-grade throughput at “virtually no cost” for Visa issuers and merchants.

This is obviously really bullish for the Solana ecosystem, and SOL saw a sudden price increase off the back of the announcement. Since the sharp increase, price has returned to pre-announcement levels of around $19.60.

News like this serves as a reminder for how cryptocurrency may be on its way towards mainstream adoption, however, time will tell if Solana can find its place in traditional financial systems.

SEC claims that XRP has “no intrinsic value”

Here's the deal: The SEC threw punches at Ripple Labs, alleging unregistered XRP sales. But Judge Torres shook things up by declaring XRP not a security.

Now, as we prep for the main event featuring Ripple's bigwigs Brad Garlinghouse and Chris Larsen, the SEC's playing mind games. They're pushing for an "interlocutory appeal" and calling XRP mere "computer code with no inherent value."

But wait, there's more! Legal eagle Bill Morgan says the SEC's trying to convince judges that cryptos aren't commodities. Remember the Gram token? The SEC's not thrilled it's labeled a commodity.

Morgan's point? If cryptos lack value, issuers must find utility. Without it, they're just digital dust.

XRP's value? It's tied to the XRP-Ledger (XRPL), like wheels on a car – not much alone, but together, they make magic.

So, why the SEC's antics? John E. Deaton thinks they're lost. They're clutching a 2018 memo that doesn't confirm XRP as a security, leaving Ripple in limbo.

Result? XRP's struggling at $0.5, and the legal drama ain't over.

Bitcoin halving — is it losing its shine?

The Bitcoin halving, a four-year event slashing its supply rate, has long been associated with price surges. However, the evolving crypto landscape prompts questions about its continued significance.

Liquidity emerges as a crucial factor. A lack of funds in the market might drive investors toward alternative assets or force them to sell Bitcoin. Hence, it's vital to examine money supply metrics.

Global M2 money supply charts reveal intriguing correlations with Bitcoin's halving cycles. The increase in money supply appears closely tied to Bitcoin's price, reinforcing its status as an inflation hedge.

Yet, a twist unfolds as M2 contracts rapidly due to central bank rate hikes, particularly by the Federal Reserve. M2 is shrinking at an unprecedented pace in six decades, posing a potential roadblock to the expected bull run unless the Fed changes course.

While the Bitcoin halving remains significant, broader factors like liquidity and central bank actions are now shaping its future. As the crypto market matures, it's crucial to consider these dynamics alongside the halving phenomenon.

Meme of the Day (MOTD)

– blurtl