XRP News Today: BlockDAG Raises $364.5M as XRP Faces Utility Criticism and SHIB Sees 200T Token Dump

This week’s cryptocurrency market highlighted stark differences in momentum and investor sentiment across major and emerging projects. BlockDAG has captured significant attention after raising over $364.5 million ahead of its scheduled GLOBAL LAUNCH Release on August 11 [1]. The presale is currently priced at $0.0016 per token, with a notable jump to $0.0276 expected post-launch, representing a 17x increase. The presale continues until the $600 million hard cap is reached, but the initial price discount ends with the official launch [1].

Meanwhile, XRP found itself in the spotlight for negative reasons. Criticism from former Wall Street executive Fred Krueger reignited debates about the token’s practical utility. Krueger, a Bitcoin advocate and ex-head of Salomon Brothers’ trading desk, argued that XRP lacks real-world usage beyond speculative trading [1]. This sentiment was reinforced by a 2020 report indicating that 96% of XRP transactions had no economic value. Although XRP supporters highlighted its cross-border payment functionality and NFT integrations, the skepticism has contributed to ongoing pressure on its price and adoption [1].

Shiba Inu (SHIB) also saw turbulence, with a massive token dump from whale accounts between July 24 and 26. During this period, nearly 200 trillion SHIB tokens were offloaded, leading to a 352% drop in netflows. However, the price remained relatively stable near $0.00001400, supported by retail demand and intact technical indicators such as EMAs and RSI [1]. This suggests SHIB has developed some level of market resilience despite its heavy volatility. Still, it continues to face challenges in demonstrating broader utility beyond its meme status.

In contrast, BlockDAG is already delivering tangible features and infrastructure. Its Dashboard V4 is live, providing real-time price tracking and simulated order execution. The X1 mobile mining app has surpassed 2 million users, and the Proof-of-Engagement model encourages consistent participation. Exchange listings on MEXC, BitMart, CoinStore, XT.com, and LBank are confirmed, ensuring early liquidity for presale participants [1]. Additionally, the 10 BTC Auction further incentivizes early buyers by offering a share of the prize pool based on purchase size.

The combination of live tools, infrastructure, and a transparent price model sets BlockDAG apart from XRP and SHIB, both of which are more reliant on sentiment and future utility. With the presale nearing its cap and the final $0.0016 entry price set to expire on August 11, the window for cost-effective participation is closing rapidly. The project’s current momentum and growing user base suggest it is well-positioned for a successful public launch.

Source: [1] BlockDAG Raises $364.5M Ahead of GLOBAL LAUNCH Release as XRP Faces Criticism & SHIB Sees 200T Token Dump (https://cryptonewsland.com/blockdag-raises-364-5m-ahead-of-global-launch-release-as-xrp-faces-criticism-shib-sees-200t-token-dump/)