XRP ETFs Absorb Record Amount as Bitcoin Breaks Halving Cycle

U.S. spot XRP ETFs have removed a record 1.47% of XRP's total supply from market circulation, worth $1.04 billion.

This comes as institutional accumulation accelerates ahead of the CLARITY Act deadline in the U.S. Senate, with law makers having two weeks left to reach a consensus on digital asset oversight rules before Congress leaves for its traditional August recess.

Grayscale Research head Zach Pandl believes that Bitcoin has outgrown its four-year halving cycle and now responds to macroeconomic events, citing the Federal Reserve's July 28-29 meeting as the market's next real catalyst.

In a separate incident, three DeFi protocols - AFX Trade, Verus Bridge, and B² Network - lost $35.56 million in back-to-back exploits, with hackers targeting cross-chain bridge vulnerabilities and compromised administrative keys.