XRP News Today: Bitcoin Adoption Surges Among US Firms, Altcoins Gain From Regulatory Shifts

Bitcoin adoption, initially pioneered by Michael Saylor’s strategy, has become a widespread practice among publicly listed companies in the US and globally. The US government's stance on cryptocurrency and Bitcoin has softened, benefiting top altcoins like Ethereum and XRP with positive regulatory changes.

While the altcoin season may be delayed in this cycle, top cryptocurrencies are gaining from exposure to treasury/balance sheets and the network effect. Bitcoin’s adoption as a balance sheet asset has significantly boosted its potential for accumulation by Wall Street giants and publicly listed firms in the US. Over 140 publicly listed companies now hold Bitcoin, with 29 new companies added in the past 30 days. Bitcoin’s acceptance has reached a level where government agencies overseeing mortgages in the US are considering accepting crypto holdings as collateral for mortgages from banks.

Among top cryptocurrencies, Ethereum, XRP, Solana, Cardano, and others have been allocated as treasury assets. Institutional capital flows to investment funds in these altcoins reiterate the demand for altcoins among Wall Street giants. The year-to-date flows for altcoins like Ethereum, Solana, XRP, Sui, and Litecoin are significant, as seen in the latest Digital Asset Fund Flows report.

Bitcoin’s volatility has not deterred investors. Despite geopolitical tensions and macroeconomic developments, Bitcoin has shown resilience, recovering swiftly from dips and trading above $107,000. The crypto has emerged as sensitive to fiat liquidity and macroeconomic developments in the US, topping $108,000 early in the day. Steady flows across US spot Bitcoin ETFs have reinstated institutional interest in BTC in the medium to long term.

CoinGecko data shows that when ranked by seven-day returns, Sei, Kaspa, Aptos, Bitcoin Cash, Stacks, Gate, Pi Network, Kaia, Bitget Token, and Algorand are among the top gainers. SEI gained over 40%, while the rest of the cryptos added between 3% and 8% in the same time frame. Bitcoin, Ethereum, and XRP are recovering from recent corrections, with BTC back above $107,000, while top cryptos make a slower comeback.

June 26 and 27 have several US macroeconomic events lined up, including the release of durable goods data, Q1 GDP data, and unemployment insurance data. Typically, US macro releases influence Bitcoin and altcoin prices as they affect the sentiment among traders. The Crypto Fear & Greed Index shows that traders are “greedy,” echoing the sentiment from yesterday, last week, and last month. Greed implies there is demand among traders for cryptocurrencies. While Bitcoin price could face volatility, traders could support demand for altcoins. A shake-up in altcoin prices could be followed by a recovery in the coming week.

Analysts from Bitunix told Crypto.news in a written note that the US is currently in trade negotiations with key partners, including the EU, Japan, South Korea, India, and Vietnam. If stagflation becomes a reality, it could negatively impact risk assets in the mid-term. The crypto market may face profit-taking pressure and capital outflows. Analysts advised a conservative approach, raising stop-loss awareness, avoiding trading during periods of high volatility, and monitoring trade negotiation developments closely.