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Tag: Positive

  • Paxos Registered as Clearing Agency by SEC

    Paxos Registered as Clearing Agency by SEC

    Paxos Securities Settlement Company, a subsidiary of blockchain infrastructure firm Paxos, has been granted registration by the Securities and Exchange Commission (SEC) as a clearing agency under Section 17A of the Securities Exchange Act.

    Blockchain-Native Status

    According to a press release from the company, this registration makes Paxos the “only blockchain-native firm” approved by the SEC to operate as a central securities depository in the United States.

    Temporary Registration

    The SEC order designates the approval as a temporary registration, permitting the company to offer clearing and settlement services while adhering to ongoing regulatory requirements. “Most importantly, it allows us to offer the most complete infrastructure for our partners to continue evolving with the market and blockchain technology,” said Charles Cascarilla, Paxos CEO and Co-Founder, in a statement.

    Seven-Year Regulatory Journey

    Cascarilla noted that this milestone concludes a seven-year regulatory process, “beginning with our No-Action Letter in 2019 and the settlement pilot we operated with some of the world’s largest and most sophisticated financial institutions.”

    The pilot program, which commenced in February 2020, has been clearing and settling U.S. equities daily with participation from “top global financial institutions” under SEC no-action relief, the firm stated. In 2022, a blockchain-based pilot launched by Paxos in collaboration with State Street achieved same-day settlement times for stock trading, known as “T+0.”

    Industry Context

    The registration arrives as established infrastructure providers embrace tokenization. The Depository Trust & Clearing Corporation recently unveiled plans for its own tokenization service, supported by major Wall Street firms.

    Paxos issues several digital assets, including PayPal’s PYUSD stablecoin and Pax Gold (PAXG). In October 2025, an “internal technical error” led the firm to accidentally mint and subsequently burn 300 trillion PYUSD tokens. Months later, the company received conditional approval to convert to an OCC national trust bank, enabling it to operate under a unified federal regulatory framework instead of a collection of state regulations.

  • DTCC Collateral Lists Clarify XRP Status, Dispelling Delisting Rumors

    DTCC Collateral Lists Clarify XRP Status, Dispelling Delisting Rumors

    DTCC Update Sparks Crypto Panic, Misinterpreted by Retail Traders

    A recent update regarding collateral eligibility from the Depository Trust and Clearing Corporation (DTCC) circulated on Crypto Twitter, triggering a wave of panic among retail investors. This led to a sell-off of Ripple’s XRP and a shift into Stellar’s XLM, fueled by the belief that the DTCC had effectively blacklisted Ripple’s token from institutional infrastructure. However, this interpretation is inaccurate.

    The DTCC’s collateral eligibility lists serve as post-trade operational reference tools, not directives for exchanges. Analysts are characterizing the resulting price dip as a “Fear, Uncertainty, and Doubt” (FUD)-driven capitulation event, rather than a structural delisting.

    On-chain data revealed $900 million in weekly Ripple realized losses during the peak of the panic, marking the largest capitulation spike since 2022, when realized losses reached approximately $1.93 billion. Historically, such spikes have often signaled local bottoms.

    The retail rotation from XRP to XLM, following the DTCC–Stellar Development Foundation tokenization partnership announcement, was a misinterpretation of back-office infrastructure as a trading signal.

    Understanding the DTCC’s Role

    The DTCC is a critical component of U.S. capital markets. Its subsidiaries, the National Securities Clearing Corporation (NSCC) and the Depository Trust Company (DTC), handle clearing, settlement, and custody for trillions of dollars in securities transactions daily.

    Collateral eligibility lists published by these entities specify which assets are acceptable for use within the DTCC’s clearing and margin operations. These lists govern what banks and broker-dealers can pledge as collateral within that specific post-trade infrastructure.

    Misconceptions and Reality

    The focus on the DTCC’s partnership with Stellar overlooks the broader context. The DTCC launched a Tokenization Working Group in May, with Ripple’s involvement. Additionally, the DTCC adopted Chainlink (LINK) CRE standards in May. The partnership with XLM, announced later, was misinterpreted as a preference for XLM over XRP.

    The DTCC’s lists do not instruct exchanges to delist any assets. The assumed chain of events – collateral eligibility update, XRP absence from the list, institutional trading ban, and exchange delisting – is flawed at every step. Exchange listing decisions are based on each venue’s risk framework, regulatory standing, and commercial judgment, which are separate from DTCC’s back-office operations.

    The DTCC has also emphasized its chain-agnostic approach to digital assets. Its 2024 “Great Collateral Experiment” involved tokenized collateral across multiple networks with 10 major banks, demonstrating interoperability as a key design principle.

    The Ripple Effect

    The misinterpretation followed a familiar pattern. Screenshots of DTCC and NSCC eligibility files were shared on Crypto Twitter without proper context. XRP’s status on these lists was then interpreted as evidence of an impending delisting. This narrative was amplified by influencers, prompting an emotional reaction from retail traders, and causing XRP to fall below $1.30 as the rotation accelerated.

    The DTCC–Stellar announcement further fueled the confusion. The Stellar Development Foundation’s partnership with DTCC, with DTC-tokenized assets expected to launch on the Stellar network in the first half of 2027, was seen by some as a displacement of XRP from institutional pipelines. This interpretation disregards the DTCC’s multi-chain strategy and the fundamental nature of global financial infrastructure, which does not operate on a winner-take-all basis.

  • Bitcoin Strategy Shift? Standard Chartered Bullish on Ethereum’s Future.

    Bitcoin Strategy Shift? Standard Chartered Bullish on Ethereum’s Future.

    Crypto markets are ending the week on a surprisingly strong note, with Bitcoin holding steady despite significant options expiry pressure. The crypto community is currently navigating three key narratives: movements from Michael Saylor’s Bitcoin holdings, Standard Chartered’s comparison of Ethereum’s long-term potential to Amazon’s early growth, and Vitalik Buterin’s announcement that he is writing a sci-fi novel about decentralized governance.

    Geopolitical Developments

    Adding to the market’s dynamics, reports indicate that the U.S. and Iran have reached an agreement on a memorandum of understanding, including a 60-day ceasefire. This development, which is reportedly awaiting final approval from Donald Trump, could potentially boost the entire risk sector if confirmed.

    MicroStrategy’s Bitcoin Transfers

    A significant development involves MicroStrategy, with 411.48 Bitcoin transferred to Coinbase Prime. This move has drawn considerable scrutiny, and Polymarket odds that MicroStrategy will sell any Bitcoin before the end of the year have risen to 84 percent. However, this could be a routine treasury management or custody adjustment. While MicroStrategy’s Bitcoin holdings are currently in the red, the company remains a core holder, and there are no signs of panic. If Michael Saylor does sell some Bitcoin, it would likely be part of the company’s strategy to fund high dividends on preferred stock and optimize its balance sheet. These moves appear strategic rather than bearish.

    Standard Chartered’s Ethereum Outlook

    Standard Chartered has issued a bullish outlook on Ethereum, suggesting a potential 1,000x upside by comparing ETH’s growth potential to Amazon’s. In a recent client note, Geoffrey Kendrick, Standard Chartered’s Global Head of Digital Assets Research, compared Ethereum’s current price action to Amazon after the 2001 dot-com crash. Kendrick noted that Ethereum will eventually catch up to its internal metrics. Standard Chartered reaffirmed its bullish ETH price targets of $4,000 by the end of 2026 and $40,000 by the end of 2030.

    Vitalik Buterin’s Novel

    Adding an unexpected element, Vitalik Buterin, the face of Ethereum, announced that he is writing a sci-fi novel about decentralized governance. This news has become a community meme, but it could also indicate Buterin’s continued focus on visionary ideas beyond code.

    Sui Network Outage

    In other news, the Sui network experienced a two-hour stall before recovering. This brief outage had little impact on market sentiment and was quickly resolved.

    SEC Approvals

    The SEC has granted Paxos clearance, providing another regulatory green light for stablecoins and infrastructure players. This move alleviates compliance concerns and could encourage more institutional participation.

    Upcoming SEC Meeting

    Looking ahead to next week, the SEC Investor Advisory Committee meeting will be held on June 4. The agenda includes private market assets, passive index funds, shareholder proxy voting, and quarterly versus semi-annual reporting. This meeting could affect crypto, retail protection, and fund rules. Any constructive tone could spark fresh buying.

    Market Outlook

    Overall, despite early-week challenges, the crypto market appears poised for upside. Geopolitical stability, regulatory clarity, and the positive momentum surrounding Ethereum create a favorable environment. The situation with MicroStrategy’s Bitcoin holdings appears tactical, and Vitalik’s creative endeavors contribute to the culture. With potential headwinds seemingly behind us, there is reason to remain bullish.

  • Cardano Millionaire Wallets Hold Most ADA Since 2017

    Cardano Millionaire Wallets Hold Most ADA Since 2017

    Cardano Whales Accumulate, Holdings Reach Highest Point Since 2017

    On-chain data indicates that Cardano addresses holding at least one million ADA have reached their highest combined holdings since 2017. The trend suggests continued accumulation by large Cardano investors.

    In a recent post on X, the on-chain analytics firm Santiment discussed the latest developments in the supply distribution among significant Cardano investors. The “Supply Distribution” metric tracks the amount of ADA held by specific wallet groups. These groups are categorized based on the number of ADA tokens held in their balances. For this analysis, the focus is on wallets holding a minimum of one million ADA. At current exchange rates, this equates to approximately $230,000, representing a substantial investment.

    Santiment’s chart illustrates the supply distribution trend for these “Cardano millionaire” wallets over the past decade. The graph reveals an upward trend since 2024, indicating that large investors, often referred to as “sharks” and “whales,” have been increasing their ADA holdings.

    Santiment noted that accumulation by key stakeholders generally signals confidence from those with the most significant investments and potential gains or losses. Notably, this upward trend has persisted despite the overall bearish sentiment in the cryptocurrency market since the fourth quarter of 2025, suggesting that the price decline has not deterred large investors from accumulating the altcoin.

    Following the latest increase, the total holdings of these wallets have reached 25.11 billion ADA tokens, the highest level since December 2017. In terms of supply percentage, these key holders currently control 64.49% of all circulating ADA, the highest share since July 2020.

    “As a long-term indicator, this is a bullish signal for those who can be patient enough to hold,” stated Santiment.

    However, while accumulation by Cardano whales has been consistent, the indicator warrants continued monitoring. The chart reveals a similar trajectory during the 2022 bear market, followed by a selloff by large holders that drove the coin to its cycle lows.

    At the time of writing, Cardano is trading around $0.23, down nearly 6% over the past week.

  • Grayscale: Hyperliquid a Breakout Success, Report Says

    Grayscale: Hyperliquid a Breakout Success, Report Says

    Grayscale Report Highlights Hyperliquid’s Rise

    A new research report from Grayscale Investments is spotlighting Hyperliquid, characterizing it as a significant success story in the evolving cryptocurrency market. The report analyzes how the platform has rapidly gained momentum by combining high-performance trading infrastructure with a fully on-chain model, establishing itself as a major player in the derivatives space.

    Hyperliquid’s Integrated Ecosystem Gains Industry Recognition

    Grayscale Investments has significantly elevated Hyperliquid’s institutional profile with the release of its detailed research report, titled “Hyperliquid Breaks the Mold.” An analyst known as Crypto Banter on X revealed that Grayscale describes Hyperliquid as one of the breakout success stories in the modern digital asset industry.

    The report attributes Hyperliquid’s growth to several factors, including its projected $800 million in annualized revenue for 2025, which would position it among the largest crypto assets by market capitalization and a dominant force in the perpetuals trading market. Grayscale highlighted Hyperliquid’s open architecture, which supports spot trading, commodities, and outcome-based markets. This versatility is combined with self-custody principles and centralized exchange-level performance.

    In a notable development, Grayscale has filed and recently amended an S-1 registration for a proposed Hyperliquid ETF, although approval from the US Securities and Exchange Commission (SEC) is still pending. Crypto Banter noted that this represents meaningful institutional recognition for a project that has generated real revenue, demonstrated strong product-market fit, and delivered technical innovation.

    Despite its rapid growth, the report emphasizes that Hyperliquid’s revenue is small compared to the massive traditional global derivatives industry, suggesting significant potential for further growth if it continues to gain market share.

    Hyperliquid’s Unique Position

    Hyperliquid distinguishes itself from both traditional finance and existing crypto projects, offering a distinct and forward-looking model for blockchain-based financial systems. The platform is described as breaking the mold rather than fitting into established categories. An investor known as Gustavo Am on X explained that Hyperliquid is offering a compelling vision for the future of blockchain-based finance.

    At its core, Hyperliquid operates on an open architecture platform that encourages permissionless innovation, allowing it to adhere to foundational DeFi principles such as transparency and self-custody. Simultaneously, it is structured around a highly optimized core application that has already proven its ability to attract and retain users. This dual approach positions Hyperliquid as more than just another protocol. If it continues to execute effectively, retain and grow its dedicated community, and benefits from favorable regulatory developments, it could potentially achieve broader adoption and become a financial services leader.

  • Institutional Investors Increase Bets, Accumulating $170 Million.

    Institutional Investors Increase Bets, Accumulating $170 Million.

    HYPE has retreated below $60 as the broader market faces selling pressure, impacting even the strongest performers of recent weeks. While the price drop from all-time highs is evident, data from Arkham Intelligence reveals a transaction that provides context for the current price weakness.

    A16z Buys the Dip

    A wallet linked to Andreessen Horowitz, the Silicon Valley venture capital firm known as a16z, has purchased an additional 253,947 HYPE tokens, worth approximately $15.03 million, over the past several hours. a16z’s dedicated crypto fund has been a significant institutional force in digital assets since its launch, backing foundational projects including Coinbase, Uniswap, and Solana.

    The timing of the purchase is crucial. A16z is not buying HYPE at its all-time high during a period of market exuberance. Instead, it is buying HYPE as the price falls below $60 amid market-wide selling pressure, deploying $15 million precisely when most participants are reducing risk. This behavior is not reactive but rather an expression of a consistent investment thesis. For HYPE trading below $60, the a16z purchase signifies that the current price level is not a reason to pause, but rather a reason to increase holdings.

    A History of Strategic Accumulation

    The latest purchase completes the overall a16z HYPE strategy. Since April 14, the linked wallet has accumulated 3.55 million HYPE tokens at a total cost of approximately $170.7 million, with an average entry price of $48 per token. HYPE trading below $60 today means the position currently holds significant unrealized gains. However, the average entry price highlights the accumulation strategy, which began and continued through periods when the current price levels were not yet visible. This persistence through bearish price action is a key indicator. A16z did not build this position during a single euphoric session or chase HYPE after the all-time high breakout attracted mainstream attention. The accumulation occurred over multiple weeks, amidst market uncertainty, broader crypto selling pressure, and specific pullbacks that deterred less conviction-driven participants.

    This sustained buying through weakness, with $170 million deployed at an average of $48 while the broader market struggled, demonstrates an institutional thesis that has been tested repeatedly by adverse conditions and has remained consistent. Each purchase below the average strengthened the position, and each purchase above it confirmed the direction. For HYPE pulling back below $60 under current selling pressure, the a16z behavior provides a clear signal of how the most informed institutional participant views the current price level. The latest $15 million purchase is not a new thesis but a reiteration of the same, at a price the market is offering as a discount.

    Technical Outlook

    HYPE is experiencing its first significant pullback after a strong rally that pushed the asset above $60 to new all-time highs. Despite the recent decline, the daily chart still reflects a strong bullish structure among major altcoins, with the price trading well above all key moving averages.

    The rejection near the $63–$65 region appears driven more by short-term profit-taking than a structural trend reversal. After accelerating throughout May, HYPE became extended from its short-term moving averages, creating conditions for a cooling-off phase. The current retracement toward the $56–$57 area is now testing the first important support zone following the breakout.

    Technically, the broader trend remains bullish. The 50-day moving average continues to rise aggressively, while the 100-day and 200-day moving averages are also trending upward after the major recovery that began earlier this year. Volume expanded sharply during the breakout phase, confirming strong market participation. The current pullback is shallow relative to the rally’s magnitude. HYPE has corrected modestly despite broader market weakness affecting Bitcoin and Ethereum, suggesting buyers continue absorbing supply during dips. As long as HYPE holds above the $52–$54 region, the broader breakout structure remains intact, with bulls maintaining control of momentum despite the recent volatility.

  • Treasury Secretary Backs Clarity Act, Wants US to Lead in Crypto.

    Treasury Secretary Backs Clarity Act, Wants US to Lead in Crypto.

    Treasury Secretary Scott Bessent Urges Passage of CLARITY Act

    On Thursday, Treasury Secretary Scott Bessent urged Congress to pass the CLARITY Act, a bill designed to provide the cryptocurrency industry with a regulatory framework and clarity regarding the classification of digital assets.

    Bringing Digital Assets Onshore

    Speaking at the White House, Bessent emphasized that the CLARITY Act’s primary goal should be to encourage digital asset activity within the United States, rather than allowing it to remain largely offshore. “The most important thing we can do is to make digital assets come into the United States. Make the US the home. I would encourage the House and the Senate to get Clarity done,” he stated.

    Bessent also criticized the unregulated environment for digital assets outside the U.S., describing it as the “wild, wild west.” He argued that much of the confusion and controversy surrounding crypto stems from a lack of clear rules when activity occurs offshore. “When you look at digital assets, all the nonsense that happens, all the things you read about, that’s because it’s the wild, wild west offshore. So we got to bring it onshore,” he said, reiterating his call for lawmakers to pass the CLARITY Act.

    Progress in the Senate

    The push for the CLARITY Act follows its advancement in the Senate earlier this month. The Senate Banking Committee approved its portion of the legislation, building on progress from January when the Agriculture Committee successfully voted on its version.

    With committee steps completed, the CLARITY Act now requires a full Senate vote, completion of legislative reconciliation steps, and a final agreement between the House and the Senate before it can be sent to the President.

    CBDCs Off the Table

    Bessent also addressed the administration’s broader crypto policy, including central bank digital currencies (CBDCs). He confirmed that the U.S. would not adopt a Central Bank Digital Currency, stating, “There will be no Central Bank Digital Currency. That would be the first step toward tracking. We took that off the table.”

  • Ripple Banking License Fuels XRP Price Speculation

    Ripple Banking License Fuels XRP Price Speculation

    Ripple’s pursuit of full banking status is a major topic of discussion within the XRP community, with some analysts and enthusiasts speculating whether this regulatory milestone could propel XRP to unprecedented price levels. The company’s financial standing, its expanding institutional presence, and developments within the XRP Ledger (XRPL) infrastructure are fueling ambitious forecasts, including a target of $25 per coin.

    Ripple’s Banking Approval: A Key Factor

    In December 2025, Ripple received conditional approval from the Office of the Comptroller of the Currency (OCC) for a national bank charter, a first for a crypto-native company. This charter paves the way for the establishment of Ripple National Trust Bank, which will handle custody and manage reserves for Ripple’s RLUSD stablecoin.

    A viral post on X from the XRP enthusiast account KingXRP claimed that Ripple had “officially obtained a banking license,” with its valuation exceeding $120 billion. While this statement reflects the excitement surrounding the development, it lacks crucial context. The OCC conditionally approved Ripple’s application to establish Ripple National Trust Bank. However, Ripple has also applied for a Federal Reserve master account, which would allow the trust bank to directly access FedWire and FedNow systems and hold dollar reserves at the central bank. Gaining this access would integrate Ripple into the core infrastructure of the U.S. payments system.

    What XRP Needs to Reach $25

    Ripple’s most recent publicly reported private valuation was approximately $40 billion following a $500 million strategic investment round. However, Ripple holds an estimated 42 billion XRP on its balance sheet. Approximately 4.5 billion to 6.4 billion XRP are held directly in company wallets, while roughly 33 billion XRP are locked in cryptographic escrow accounts. If Ripple holds 40 billion XRP and the price returns to $3, those holdings alone would be worth about $120 billion on paper.

    A move to $25 would require XRP to become more than just an asset reacting to news headlines, and its banking approval would need to contribute to a wider adoption cycle. With a current circulating supply of about 61.9 billion XRP, a $25 price would place its market value above $1.5 trillion. According to KingXRP, if XRP surpasses $25, Ripple’s balance sheet alone could exceed $240 billion, potentially positioning the company among the top 10 banks globally.

    Supporting the idea of banking approval driving broader adoption, infrastructure is being built on the XRP Ledger. One notable development involves RealFi Payment Solutions, which recently announced a partnership with Shopify to develop the first XRP Ledger-powered payment rewards application for global e-commerce.

  • Clarity Act’s Global Implications

    Clarity Act’s Global Implications

    The Clarity Act, a cryptocurrency bill in the United States, faces a crucial final vote on the Senate floor after a year of setbacks and internal disputes. The outcome carries significant weight, not only for the U.S. but also for the global landscape of cryptocurrency regulation.

    Global Implications of the Clarity Act

    If passed, the legislation would formally legalize most crypto activities in the United States. Given America’s influence on the global financial system, the bill’s provisions are expected to influence crypto regulations worldwide, according to stakeholders.

    Kristin Smith, president of the Solana Policy Institute, told Decrypt that the rest of the world is closely watching Washington. She noted that when the GENIUS Act, focused on stablecoins, was signed into law last summer, other countries quickly began developing similar frameworks. The United Kingdom, South Korea, and Canada subsequently introduced comparable stablecoin policies, while Hong Kong and Japan adjusted their existing regimes.

    Stablecoins, cryptocurrencies pegged to fiat currencies like the U.S. dollar, enable traders to enter and exit positions and send remittances without directly accessing traditional currencies. The GENIUS Act provided a regulatory framework for stablecoins, which had previously operated in a legal gray area. The Clarity Act, however, has a broader scope, establishing regulations for various cryptocurrencies, including decentralized finance (DeFi) ecosystems, and outlining measures to prevent money laundering and sanctions evasion.

    The bill would revise existing securities laws to include exemptions for newly defined crypto assets. Under this framework, the Commodity Futures Trading Commission (CFTC) would regulate most crypto tokens and trading platforms, with certain decentralized projects potentially exempt from regulatory oversight.

    Potential Impact and Concerns

    The Clarity Act’s passage could have a significant impact on the global economy, potentially leading to increased institutional crypto adoption and demand for crypto assets. Cody Carbone, CEO of the Digital Chamber, expressed concern that failure to pass the bill could cause the U.S. to fall behind other jurisdictions with existing regulatory frameworks.

    However, opponents of the bill, such as Senator Elizabeth Warren (D-MA), have raised concerns about its potential to facilitate money laundering and sanctions evasion. Warren argues that the bill could weaken global illicit finance standards, potentially leading to increased cross-border sanctions evasion, money laundering, and terrorist financing.

    During a recent committee vote, Senate Banking chair Tim Scott (R-SC) prevented Warren from introducing an amendment to the bill that would have tightened its DeFi-related provisions.

    Some critics remain skeptical that changes to the Clarity Act would effectively address illicit finance on a global scale. Bartlett Naylor, a financial policy analyst at Public Citizen, noted that countries like El Salvador have attracted crypto companies due to their lax regulations, which are unlikely to change regardless of the Clarity Act’s outcome.

  • Prediction Market Launches $100,000 World Cup Contest

    Prediction Market Launches $100,000 World Cup Contest

    Myriad Launches World Cup Prediction Market with $100,000 Prize Pool

    As the FIFA World Cup approaches next month, prediction market Myriad is launching a trading competition in partnership with the Layer-1 blockchain D.Energy, with a prize pool of $100,000.

    “We’re thrilled to be running this contest during the World Cup,” said Farokh Sarmad, Myriad Co-Founder and President. “With billions of viewers tuning in to the tournament from around the world, this is a great opportunity to showcase how prediction markets work around sports tournaments on a global stage.”

    Competition Details

    The FIFA World Cup 2026 Prediction Contest allows Myriad users to make predictions on every match in the competition, with over 75 multi-binary markets available at launch. The top traders and market makers will compete for a $100,000 prize pool.

    The top three traders will receive $20,000, $10,000, and $5,000 respectively, with the remaining $10,000 distributed among the rest of the leaderboard, which will run until the end of the contest.

    Top market makers will draw on a weekly pool of $5,000 in maker volume rewards throughout the contest. The leaderboard will reset each week.

    Partnerships and Recent Developments

    The competition builds on Myriad’s recent collaborations with Chainlink, whose oracles provide market resolution, and 55 Tech, its new tech partner for real-time sports data.

    Earlier this year, Myriad closed a seed investment round, which CEO Loxley Fernandes said would allow the prediction market to “invest aggressively in product development, liquidity, and market expansion.”

    Tournament Preview

    The World Cup is considered the world’s largest sporting event, with approximately 1.5 billion global viewers tuning in to the last final in Qatar, according to FIFA. This year’s event begins on June 11 with South Africa facing hosts Mexico. Myriad users currently give South Africa a 13% chance of winning.