XRP News Today: Wall Street's Profit Pursuit Drives XRP, ETH, SOL Adoption as Treasury Assets

John Deaton, a well-known crypto advocate and legal voice in the XRP community, has predicted that Wall Street’s greed could drive XRP, ETH, and SOL into treasuries, similar to how Bitcoin has been adopted by over 60 companies. Deaton’s theory suggests that Wall Street’s relentless pursuit of profit will not allow a few players to monopolize the benefits of crypto, leading to the adoption of other tokens like XRP, ETH, and SOL as treasury assets.

Deaton’s predictions are already coming to fruition, with several companies implementing XRP, ETH, and SOL into their treasury strategies. For XRP, companies like VivoPower International, Worksport Ltd., Hyperscale Data Inc., Webus International Limited, and Wellgistics Health, Inc. have already adopted XRP as a treasury asset. VivoPower International, for instance, has raised $121 million for a $100 million XRP treasury plan, while Worksport Ltd. has set aside $5 million for XRP and Bitcoin. Hyperscale Data Inc. plans to launch an XRP lending platform, and Webus International Limited has partnered with Samara Alpha Management to manage a $300 million XRP treasury for cross-border payments. Wellgistics Health, Inc. uses XRP in its treasury to speed up payments in healthcare and avoid banking delays.

For ETH, companies like Fundstrat and SharpLink Gaming have adopted ETH as a treasury strategy. SharpLink Gaming, in particular, has a $425 million ETH position supported by Consensys, Ethereum’s co-founder, Joseph Lubin’s company. For Solana, companies like Upexi, DeFi Development Corp, Sol Strategies, and an unnamed EdTech company have adopted SOL as a treasury asset. Upexi raised $100 million for a Solana treasury, while DeFi Development Corp saw its shares surge after announcing SOL purchases. Sol Strategies has launched as a Solana treasury company, getting support from major firms like Cantor Fitzgerald. An unnamed EdTech company also plans to raise $500 million to hold SOL.

Deaton’s analysis is not just about specific cryptocurrencies but about understanding human behavior and the hunger for returns. He argues that Wall Street’s pursuit of profits will drive the adoption of these cryptocurrencies as treasury assets, leading to a scenario where they are valued similarly to treasuries. This shift in perception could attract a broader range of investors, including those who are traditionally risk-averse. However, Deaton also warns that this scenario could lead to a bubble, where the prices of these cryptocurrencies become artificially inflated due to speculative trading.

Deaton’s comments highlight the complex interplay between market dynamics and investor behavior. While the pursuit of profits is a natural part of the market, it can also lead to irrational exuberance and speculative bubbles. As such, investors should be cautious and conduct thorough research before making any investment decisions. Deaton’s predictions are based on the current market dynamics and the behavior of Wall Street firms, suggesting that the aggressive pursuit of profits by these firms could lead to a situation where the prices of XRP, ETH, and SOL are driven up by speculative trading, rather than by their underlying fundamentals. This could create a bubble, where the prices of these cryptocurrencies become disconnected from their actual value.