Brad Garlinghouse, the CEO of Ripple, has drawn attention to two pivotal factors shaping crypto’s trajectory: The rising volumes of Bitcoin Exchange-Traded Funds (ETFs) and the impending halving event.
Garlinghouse’s insights shed light on these elements’ profound influence over the broader crypto sphere.
On the 11th of March, Garlinghouse took to X (formerly Twitter) to highlight the intricate relationship between traditional financial instruments and the digital asset sphere.
He noted,
“BTC ETF volumes have been soaring, we’re due for a halving and the broader crypto market is following BTC’s lead (as has historically been the case).”
The key to crypto sustainability
Garlinghouse further delved into the historical patterns that have seen the crypto market closely mirroring Bitcoin’s movements, a phenomenon spanning numerous market cycles.
However, amidst this discussion, he emphasized a critical distinction,
“While Bitcoin may command attention and speculative fervor, he contends that the sustainability of the crypto realm ultimately hinges on the integration of Real World Assets (RWA).”
Additionally, in navigating various crypto market cycles, Ripple’s CEO stressed the importance of coupling bullish sentiment with real-world utility. He emphasized,
“As someone who has experienced multiple cycles of “crypto is back” it’s imperative this bullishness go hand in hand with real-world utility.”
This highlighted that while optimism was positive, it must also align with practical applications for genuine progress. At press time, Bitcoin’s [BTC] price has surged above $72,000, driven by anticipation of halving events next month, propelling it into the top eight assets globally.
To this, Brad remarked,
“That’s the real (and inevitable) march of progress.”
This reflected a growing industry focus on real-world use cases and adoption to drive sustained growth and legitimacy within the cryptocurrency sector.
Ripple’s roadmap ahead
The Ripple CEO’s focus on real-world functionality aligns with the company’s mission to streamline cross-border payments through blockchain.
This commitment to practical applications provides cost-efficient solutions for financial institutions. Other assets like Ethereum [ETH] and Bitcoin [BTC] offer similar functionalities.
Just a few days ago, Ripple CTO Schwartz offered his insights on XRP’s gradual appreciation on the chart, stating that Bitcoin had a similar trajectory for the longest time too.