WhiteRock crypto soars over 110% amid rumoured partnership with Saudi Arabian oil giant

On May 30, the share price of WhiteRock seems to be experiencing a wonderful rally at an unbelievable 116% surge, allegedly because of some rumors telling of a super alliance with a Saudi crude giant.

If you see it on the crypto radar, WhiteRock (WHITE) is the one bombing it. According to crypto.news, WHITE soared at $0.00138 intraday before settling at $0.00104. But if you want to be told, it’s the 500% climb in volume: daily volume surged $10 million. With its market cap standing at around $780 million, WHITE doesn’t seem shy to ask, “Look at me.” So traders, get alerted.

Since its March low, WHITE has now rallied more than 280%.

What rocket propels this surge? An insane 240% leap in open interest shatters the highest mark and reaches an all-time record of $998.55k. Derivative traders have not just cheer-lead this rally; they are fully on-board, wildly enthusiastic in their fueling of this ascent.

In the white backdrop of the skies, whispers on X allege a seismic shift brewing in the oil industry. Some unconfirmed reports are implying a radical spirit of alliance being forged between WhiteRock and Ripple to tokenize the oil supply chain for Saudi Aramco. Could this then be digital oil rising?

While neither Ripple nor WhiteRock has confirmed the partnership, the rumour has fuelled significant market enthusiasm.

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May 29th gets a special date cloud in the blockchain domain, as marketplace insider Amonyx gives vent to his feelings, claiming, “The biggest deal in blockchain tokenization history.” Along with the statement came a document said to have been signed by a Saudi official, containing all the juicy details regarding this unthinkable alliance.

WhiteRock crypto soars over 110% amid rumoured partnership with Saudi Arabian oil giant - 1

Document announcing the rumoured partnership between WhiteRock and Aramco | Source: X/amonbuy

After detonating online, the post garnered so many views-259,000 more-than any post typically could in just one or two hours-which consequently ignited a Google wildfire for “WHITE,” thus being, in effect, the greatest ever testimony on the existence of a retail feeding frenzy.

As of press time, none of the involved parties, Ripple, WhiteRock, or Aramco, have confirmed any such deal.

The more you look into how the shared document works, it unravels faster than a cheap rug. Gone are the threads, and now gaping holes threaten the document. It carries the name “Sheikh Abdullah bin Khalid Al-Falih,” but the official Saudi records whisper not of such a man. But for me, the best part is the signature. A quick reverse image search shows a resemblance to … Iranian actress Mahtab Keramati. Authenticity? Poof, gone.

WhiteRock crypto soars over 110% amid rumoured partnership with Saudi Arabian oil giant

Source: Wikipedia

For all the murmurings within the crypto circle, there has been no official dip per se into oil tokenization by Saudi Aramco. The partnership between them and SBI Holdings of Ripple in 2023 was an experimentation into the wider realm of digital assets, but it was not about XRP nor was it concerned with the tokenization of the Kingdom’s black gold.

The collaboration between WhiteRock and the XRP Ledger, accepted by Ripple, brings institutional tokenized asset trading closer to the folds of Ripple. Curiously, despite this affiliation, no words are spoken about oil-backed products. No mention; nothing official.

WHITE’s meteoric ascent rests precariously upon a rumor. Until a fact replaces a rumor, this rally is nothing but a house of cards that will come crashing down the moment the hype train is derailed.

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An intricate process is investment. It should consider your compass, not a map. The insights shared here will teach and help you chart your financial course.

Sometimes one can make investing complex. Think of these activities- my compass to your map. This information is for learning and fodder for thought, to guide you in charting an individual financial course.

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