Large wallets and whales rotated capital out of high-risk altcoins into BTC and ETH, treating them as safe collateral during the altcoin leverage flush. The key caveat: Note that this is portfolio rotation rather than net new fiat buying; it indicates a risk-off rotation within the crypto asset class. For traders, the story matters because it affects how capital, liquidity or confidence is being priced across crypto right now. What Happened Whales Rotate Back To Bitcoin And Ethereum As Altcoin Risk Cools. The update comes from Tokenpost, with the core claim checked against Glassnode exchange flows / IntoTheBlock address statistics. That matters because this is the sort of story that can quickly become noisy if it is treated as a simple price headline rather than a market-structure development.
Large wallets and whales rotated capital out of high-risk altcoins into BTC and ETH, treating them as safe collateral during the altcoin leverage flush. The clean read is not that one data point should dominate the whole market, but that the latest signal gives traders a better sense of where risk appetite is shifting. In a market still being driven by ETF flows, leverage, treasury decisions and rotating altcoin liquidity, context is doing a lot of work.
Why It Matters For Crypto Traders Rotation back into BTC and ETH is a classic risk-off move inside crypto. It does not necessarily mean fresh money is flooding into the market. It can simply mean large wallets prefer the deepest collateral assets while smaller altcoins digest leverage and volatility.
The practical takeaway is that this is not just about the headline asset. These stories tend to spill across related trades: Bitcoin treasury names can affect altcoin sentiment, ETF flow data can shape institutional positioning, and token-specific network metrics can change how traders think about support, demand and supply. When liquidity is thin, those second-order effects can matter almost as much as the original news.
The Caveat To Keep In Mind Note that this is portfolio rotation rather than net new fiat buying; it indicates a risk-off rotation within the crypto asset class. That is the line readers should keep front and center. Crypto markets are very good at taking a narrow data point and turning it into a sweeping narrative within minutes. The better read is usually more measured: this is a signal, not a guarantee.
For example, an outflow does not automatically mean long-term holders have lost conviction. A governance warning does not mean a network is broken. A token unlock does not mean every released coin is being dumped at market. And a derivatives shift does not mean price must follow in a straight line. The useful part is understanding what the signal says about positioning, confidence and incentives.
What To Watch Next The next step is to watch whether the data keeps confirming the story. If the same pattern appears across follow-up flows, on-chain metrics, open interest, governance dashboards or official filings, it becomes a more durable market theme. If it fades quickly, it may end up looking like a short-term positioning scare rather than a structural shift.
That distinction is especially important in the current market. Traders are still trying to work out whether capital is truly leaving crypto, rotating into safer crypto assets, or simply sitting in stablecoins waiting for a cleaner entry. This story adds one more piece to that puzzle, but it should be read alongside broader liquidity, macro and derivatives conditions.
This report is based on information from Tokenpost and Glassnode exchange flows / IntoTheBlock address statistics.
This article was written by the News Desk and edited by Samuel Rae.
Ethereum has remained under pressure near $1,560 as Robert Kiyosaki’s long-term $95,000 price forecast has returned to focus while the cryptocurrency continues testing a key support zone.
Summary
Robert Kiyosaki’s $95,000 Ethereum forecast has resurfaced as ETH trades near key support around $1,560. Bitmine and SharpLink continued buying Ethereum despite the token remaining on track for a historic third straight quarterly loss. Technical indicators keep favoring sellers, with analysts watching the $1,500 level for the next major move. According to data from crypto.news, Ethereum (ETH) traded around $1,560 on June 30, down about 1% over the past day as selling returned across the crypto market. The total crypto market capitalization slipped 1% to $2.11 trillion, while Bitcoin fell 1.6% amid continued outflows from U.S. spot Bitcoin ETFs. XRP, Dogecoin, and Cardano also traded lower during the session.
🚨 BREAKING:
RICH DAD POOR DAD ROBERT KIYOSAKI JUST SAID LIVE:
"ONE YEAR AFTER “THE BIGGEST BUBBLE IN HISTORY” BURSTS, WE COULD SEE:
— Rekt Fencer (@rektfencer) June 30, 2026 The weakness comes despite renewed attention around comments made by Rich Dad Poor Dad author Robert Kiyosaki, whose March prediction that Ethereum could reach $95,000 by mid-2027 has resurfaced across crypto social media.
Kiyosaki argued that a major global financial crisis would trigger a sharp repricing of alternative assets, adding that Ethereum could climb to $95,000 within a year of such an event.
His outlook extended beyond Ethereum. Kiyosaki also projected Bitcoin could reach $750,000 after the same financial reset, while forecasting gold at $35,000 per ounce and silver at $200. Those projections have renewed debate over Ethereum’s long-term valuation even as its current market performance remains weak.
Institutional buying continues despite weak price action Corporate treasury activity has continued to favor Ethereum even as the token struggles to recover.
Bitmine disclosed that it purchased another 27,084 ETH during the past week, increasing its holdings to roughly 5.7 million ETH valued at nearly $9 billion. According to the company, that represents approximately 4.7% of Ethereum’s circulating supply, with most of those holdings remaining staked.
SharpLink also expanded its position by acquiring another 10,000 ETH at an average purchase price of about $1,611. The company said its total holdings have reached 886,725 ETH after the purchase. During the same period, SharpLink repurchased 2.13 million shares and raised $75 million.
Even with treasury firms continuing to accumulate Ethereum, the token has failed to build sustained upside momentum. At current prices, ETH is down roughly 25% for the quarter and remains on track to record its third consecutive quarterly decline, which would be the first such streak in the asset’s history if the quarter closes at current levels.
Technical levels leave Ethereum at a critical support zone Technical indicators continue to favor sellers despite Ethereum stabilizing around the $1,500-$1,560 range.
As crypto.news reported earlier, ETH remains below a descending trendline that has capped rallies since mid-May while also trading beneath the Supertrend indicator. Any recovery would first require a break above that trendline before buyers could challenge Supertrend resistance near $1,650, followed by Fibonacci resistance levels around $1,680 and $1,720. A move through those barriers would bring the $1,750 level into view.
Offering a shorter-term outlook, analysts at Unknown.Ai said Ethereum recently rebounded after sweeping liquidity around the $1,550 support zone before rallying into the $1,630-$1,640 resistance area.
According to the analyst, ETH has since pulled back toward support, and buyers now need to reclaim the $1,580-$1,590 region, where the 1-hour and 4-hour EMA20 indicators sit, to reopen the path toward $1,630-$1,640 and potentially $1,660.
Another absolute masterclass on $ETH.
Our last playbook went exactly as scripted. price rolled right back into our $1,550 – $1,570 support zone, swept the liquidity to a tee tapping $1,550, and fired off a massive pump straight into our first major resistance target at $1,630 -… https://t.co/nyiP2mArLg pic.twitter.com/obY3EAbVA5
— Unknown.Ai (@UnknowTraderAi) June 30, 2026 The analyst added that a four-hour close below $1,550 would invalidate that bullish setup and increase the probability of a decline toward $1,500. Separately, analyst Ted identified the $1,500 area as a key demand zone and said holding that level could support a relief rally next month.
Macro conditions continue to weigh on sentiment. Sticky U.S. inflation has reduced expectations for Federal Reserve rate cuts, keeping Treasury yields elevated and limiting liquidity flowing into risk assets. Bitcoin’s move below $60,000 has also drawn capital toward the largest cryptocurrency instead of major altcoins.
If Ethereum loses the $1,500 support that has held throughout the latest consolidation, then another wave of selling could follow as leveraged long positions unwind and bearish momentum accelerates.
Disclosure: This article does not represent investment advice. The content and materials featured on this page are for educational purposes only.
Bitcoin on Tuesday dropped below $59,000 amid sustained ETF selling and lingering extreme fear sentiment in the cryptocurrency market.
Notable Statistics:
Coinglass data shows 82,520 traders were liquidated in the past 24 hours for $269.92 million. SoSoValue data shows net outflows of $231.1 million from spot Bitcoin ETFs on Monday. Spot Ethereum ETFs saw net outflows of $30.04 million. In the past 24 hours, top gainers include MemeCore, Lighter and Pyth Network. Notable Developments:
Trader Notes:
Trader Rekt Capital highlighted that Bitcoin appears to be setting up for a mid-summer relief rally after plunging 21% this month. He added that sharp monthly selloffs have historically been followed by short-term rebounds.
However, the trader cautioned that any gains in July could be erased in August, mirroring Bitcoin’s price action during the 2022 bear market.
Political economist Seth said Bitcoin’s drop to around $58,000 has already triggered a wave of long liquidations, but leveraged traders are quickly re-entering, adding roughly $1.16 billion in long liquidation exposure near $57,800.
He argued that if those new bullish positions are flushed out, market makers could then target the much larger $4.14 billion cluster of short liquidations around the $62,000 level.
Industry expert Follis noted Bitcoin bulls have successfully defended the $59,000 support level 10 times during June despite repeated selling attempts, underscoring strong buying interest at that price.
However, he warned that if the support finally breaks and buyers step aside, Bitcoin could quickly fall another 3% to 4% as downside momentum accelerates.
Image: Shutterstock
Market News and Data brought to you by Benzinga APIs
Ethereum has ranked first for on-chain user retention among all major blockchains, according to a new cohort study published by CoinGecko. Across 11 major blockchains, Ethereum recorded the highest on-chain user retention rate of 26.2% in CoinGecko's Q1 2025 to Q1 2026 cohort study. That means roughly 1 in 4 Ethereum users who were active in Q1 2025 were still transacting on the network a year later in Q1 2026.
BNB Chain Leads on Absolute Numbers$BNB Chain followed in second place with a 20.5% retention rate, retaining over 1.49 million users in absolute terms, the highest absolute retained user count of any chain in the study. Despite Ethereum's superior retention rate, it does not top the leaderboard when measuring raw retained users. BNB Chain retained 1,494,233 users in absolute terms, followed by Solana at 1,394,873. Both blockchains are significantly ahead of Ethereum's 682,240 retained wallets.
Ronin (@Ronin_Network), the gaming-focused blockchain behind Axie Infinity and Pixels, placed third at 19.1%, a notable result for a chain with a narrower use case, likely reflecting the habitual daily activity that on-chain gaming creates.
Methodology and ContextCoinGecko's methodology tracked wallets that completed at least five successful transactions during Q1 2025, then checked whether those same wallets were still transacting in Q1 2026. That filter is designed to capture genuinely engaged users rather than one-off participants, making the retention figures a more meaningful measure of network stickiness.
Solana appears to have a low user retention rate at 7.9%, losing more than 16 million users in a year. However, this can be explained by the comparison period of Q1 2025, when memecoins were at their peak, making it an unfair comparison. Tron was excluded after data validation confirmed that top addresses exhibited automated transaction patterns inconsistent with human wallet activity, with individual addresses recording over 10 million transactions per quarter. Including Tron would measure infrastructure uptime rather than user retention.
The findings point to a clear split between retention rate and raw scale. Ethereum's long-established user base and deep DeFi ecosystem appear to keep a higher share of users engaged year over year, while @BNBCHAIN and Solana attract larger absolute audiences, even if those audiences churn at a faster rate.
Sources
CoinGecko: Blockchain User Retention Rate Analysis, Q1 2026
Crypto Briefing: Ethereum leads blockchain user retention at 26% in Q1 2026 study
The crypto market ahead of EU MiCA’s July 1 deadline remains under pressure, with total value down 0.69% to $2.05 trillion. Traders are watching BTC, ETH, XRP, and BNB Prices as Europe prepares for stricter crypto enforcement.
EU MiCA Deadline Raises Pressure on Crypto Firms The Markets in Crypto Assets (MCA) regulation is at the final stage of enforcement tomorrow. The rules stipulate that exchanges will be required to cease operations throughout the European Union if those exchanges are not approved.
MiCA provides a common ground for crypto trading, custody, and market behaviour. It’s also regarded as the initial wide crypto rulebook of the globe.
The deadline for crypto firms to be approved by MiCA has been reached and only 244 of them have obtained approval so far. Europe previously had more than 3,000 registered crypto companies.
🚨 #Crypto Firms Turn to Dubai as EU Grants Only 244 MiCA Licenses
With just 244 #MiCA licenses issued out of nearly 3,000 applicants, crypto firms are increasingly turning to Dubai as the UAE emerges as a key hub for digital asset businesses.
This will cause a disruption in service for many operators, and possibly even result in operators having to suspend or withdraw from the region. The change may impact user access and Europe’s liquidity in the future.
Binance founder Changpeng Zhao said the company’s Greece license application failed due to political interference. However, analysts say that euro trading only accounts for a small part of Binance’s spot volume.
The regulatory change is also driving some of the founders to the UAE. European crypto companies are increasingly interested in Dubai’s faster licensing procedures.
Bitcoin price Bitcoin price dropped 1.49% to $59,257 on Tuesday as traders awaited the due date for the EU MiCA. The pressure was largely attributed to the withdrawal of U.S. spot Bitcoin ETFs. June was the month for more than $4.1 billion in outflows for these funds, which dampened investor enthusiasm among institutional buyers.
Source: BTC/USDT chart Tradingview Bitcoin price now faces a decisive test around the $58,000 support zone. If bulls do a defence of that area, then the the Future Bitcoin outlook may trade sideways and regain strength. However, a break below $58,000 could open a move toward $56,000.
Ethereum (ETH) Ethereum price rebounded from $1,500 support level on Tuesday following its failure to hold above it yesterday. The token is recovering from the recent market correction in preparation for EU MiCA.
$ETH is back into its high demand zone.
As long as the $1,500 level holds, Ethereum could have a relief rally next month. pic.twitter.com/aZAB5kt6Ez
— Ted (@TedPillows) June 30, 2026
The initial major selling resistance is around $1,600, where they may test out short-term demand. If the bounce off is stronger, it could propel Ethereum back up to $2,000 and then $2,010. If selling resumes, traders will watch the $1,500 level closely. A further decline may penetrate $1,385 that is still a medium-term support level.
XRP Price XRP price dropped by 0.80% to $1.04 as sentiment in the crypto market softened. The decline came as the Fear and Greed Index stayed at 17, signaling extreme fear. However, fresh inflows into spot ETFs helped support XRP prior to the EU’s MiCA deadline.
Source: Sosovalue data XRP spot ETFs recorded $15.34 million in net inflows on June 29. Bitwise led the flow with $11.94-million, followed by Canary XRPC’s $3.40-million. Cumulative net inflows have now climbed to $1.485 billion. If the price of XRP continues to hold above $1.00, it might try to push towards $1.15. A close below $1.00 could raise the risk of further declines to $0.95.
Binance Coin (BNB) BNB Coin fell 0.92% to $549 amid broader market weakness. However, macro pressure brought by stronger U.S. dollar and geopolitical uncertainty, kept the buyers cautious. The $540-$550 range continues to be a crucial area of support in the lead up to EU MiCA enforcement.
BNB price As long as BNB remains in this range, the token could continue to hold its ground. A failure to break above the range will bring this price to the forefront of consideration at $520.
LINK’s price still hovers near local lows, but the network’s holder base is telling a different story. According to the Santiment update, the number of non-empty wallets holding Chainlink on Ethereum has jumped to 892.8K, adding more than 8,000 holders in just five days. That pace puts the network on track to cross 900,000 holders by the end of the week and potentially hit one million before the summer is out if the trend holds.
The acceleration itself is the signal. Holder count isn’t a direct gauge of demand strength—some wallets can belong to the same entity—but sustained growth in non-empty addresses during a period of price weakness often suggests accumulation that hasn’t yet been reflected in the charts. Traders tend to watch for these divergences when on-chain behavior runs ahead of price action. Right now, LINK’s price is still depressed, which means the new wallets are not being opened by euphoric retail chasing a rally. That gives the metric a different weight than if it were spiking alongside a sharp price move.
Holder Growth Runs Counter to Price Action Sharp jumps in holder counts can occasionally track airdrop farming or protocol migrations, but Chainlink’s staking mechanism and validator economics are still relatively contained compared to newer L1 ecosystems. The current bump doesn’t appear to be a one-off event either; the Santiment chart shows a steepening curve rather than an isolated step change. If the majority of these new wallets represent genuine new entrants, then quiet positioning is underway while speculative capital remains elsewhere.
What makes the timing curious is that Chainlink’s narrative around real-world assets and institutional finance has been building for months. Project Pangea, DTCC’s collateral work, tokenized asset feeds, and the rollout of 24/5 equity data streams have all pointed toward a utility layer being repriced slowly rather than suddenly repriced. The holder data doesn’t confirm institutional buying—that would show up differently via large-entity wallet clusters—but it does suggest that a broader base of market participants is starting to act on the same themes.
The Broader Tokenization Picture The quiet accumulation coincides with a week in which real-world asset tokenization hit a fresh milestone, crossing $20 billion on-chain, as covered in a recent tokenization roundup. That context isn’t incidental. Chainlink’s oracle infrastructure underpins a large share of the data feeds that make tokenized securities, private credit, and institutional settlement rails functional. When capital flows into tokenization, attention eventually turns back to the infrastructure that keeps those markets running, even if the repricing happens with a lag.
Still, holder count alone doesn’t tell you when or even if price will follow. A lot depends on whether the accumulation pattern converts into on-chain activity that generates fee revenue, staking demand, or more visible protocol usage. The number of non-empty wallets is a breadth signal, not a depth signal. It indicates participation is widening, but it says nothing about whether the average wallet size is increasing or whether large holders are distributing. That nuance is why traders will likely cross-reference this Santiment data with exchange flow metrics and whale transaction counts before drawing conclusions about a sustained trend.
For now, the takeaway is straightforward: Chainlink’s holder base is growing at a rate that doesn’t match the price tape. That gap is something market watchers will monitor as the summer progresses, especially if the tokenized asset narrative continues to attract institutional attention.
AUTHOR
Mushumir Butt is a seasoned crypto journalist with over three years of experience reporting on the world of blockchain and cryptocurrency. At Blockchain Reporter, he delivers insightful news, in‐depth project reviews, and precise price analysis and predictions. With a strong background in SEO and digital marketing, Mushumir excels at breaking down complex trends into clear, accessible content, ensuring readers stay ahead in the fast‐paced crypto space.
Survey: 88% of enterprises plan to adopt stablecoins within the next year, with cross-border payment costs reduced by an average of 35%.
Payment infrastructure company Cybrid has released a new survey report indicating stablecoins are rapidly gaining traction in enterprise payment scenarios. The survey found that 42% of participating enterprises already use stablecoins for cross-border payments, while 88% said they are likely or very likely to adopt stablecoins within the next 12 months—only 2% of firms stated they will continue to rely entirely on traditional payment systems. According to the report, enterprises using stablecoins save an average of 35% on cross-border payment costs, with firms processing over $100 million in monthly payments achieving an average cost reduction of 47%. Payroll and contractor payments represent the most prominent use case, followed by supplier payments, customer payments, investment and revenue management, and treasury management, among others. Additionally, 71% of respondents identified a clear regulatory framework as the primary factor driving further mainstream adoption of stablecoins, outranking considerations such as infrastructure provider credibility and system integration. The survey was conducted from April to May this year, covering 468 senior executives from tech, financial services, and e-commerce sectors in the United States, Canada, and the United Kingdom.
2 hours ago
FalconX secures EU MiCA license, allowing it to offer compliant crypto services to institutional clients in Europe.
Institutional digital asset broker FalconX announced it has obtained the EU’s Markets in Crypto-Assets (MiCA) license issued by the Malta Financial Services Authority (MFSA), enabling it to provide compliant digital asset trading, custody, liquidity and related institutional services across the European Union (EU) and European Economic Area (EEA). FalconX stated that this license allows it to operate across EU member states under a unified regulatory framework, eliminating the need for individual country-specific licenses. Currently, the firm serves over 2,000 institutional clients worldwide, including asset management firms, hedge funds, banks and family offices, with cumulative transaction volumes exceeding $2.5 trillion and over $8 billion in institutional financing disbursed. FalconX noted that as the MiCA regulatory framework is fully implemented, institutional clients’ demand for compliant trading, custody and liquidity services continues to grow, and regulatory credentials are becoming a key competitive advantage in Europe’s digital asset market.
2 hours ago
Guo Wengui sentenced to 30 years in prison in connection with a fraud case involving over $1 billion.
A US court has sentenced Miles Guo (also known as Ho Wan Kwok) to 30 years in prison. In 2024, a jury convicted Guo on multiple charges including racketeering, fraud, and money laundering, with his formal sentencing now issued. Prosecutors stated that Guo defrauded over $1 billion from global victims through a series of related scam schemes spanning five years. Notably, in 2021, he promoted the cryptocurrency project Himalaya Coin (H-Coin), claiming the tokens were backed by 20% gold reserves and promising to cover all investors’ losses, raising approximately $500 million in total. Additionally, the court previously ordered the forfeiture of nearly $900 million in Guo’s illegal proceeds, as well as his luxury mansion in New Jersey and multiple high-end vehicles. Guo had close ties to Steve Bannon, a former senior advisor to US President Donald Trump; Bannon was arrested in 2020 aboard Guo’s yacht.
2 hours ago
The first-half 2026 funding rankings have been released, with Kalshi and Polymarket raising a combined $1.8 billion.
According to statistics, the 14 largest global funding rounds in the first half of 2026 raised a total of $4.3 billion, with prediction markets, AI, and payment sectors drawing the most investor interest. Specifically, prediction market platform Kalshi topped the list with a $1.2 billion funding round, while Polymarket secured $600 million—together, the two raised $1.8 billion, accounting for over 40% of the total capital of the top 14 rounds. In the AI space, Replit, Exa AI, and OpenRouter closed funding rounds of $400 million, $250 million, and $113 million respectively. For blockchain projects, Canton Network, Arc, and Morpho raised $355 million, $222 million, and $175 million respectively. Meanwhile, payment, RWA, infrastructure, and compliance projects including Rain, Slash, Goldcom, Alpaca, and Elliptic also featured on the list.
2 hours ago
Open Standard launches stablecoin Open USD, with over 140 institutions including Visa, BlackRock, and Coinbase participating.
Open Standard has announced the launch of Open USD (OUSD), a new stablecoin for global fund flows, noting that over 140 enterprises have joined its ecosystem, including financial, payment, and crypto industry players such as Visa, Stripe, Mastercard, American Express, BlackRock, BNY, DBS, Coinbase, OKX, MetaMask, Aave, Ripple, Fireblocks, Solana, and Polygon. According to the introduction, Open USD follows three core design principles: supporting zero-cost, large-scale minting and redemption for enterprises; returning all reserve asset yields to partners after deducting a small management fee; and being governed by a board of directors composed of independent firm Open Standard and its partners, rather than controlled by a single issuer. Open Standard states that Open USD will officially launch later this year, with the goal of building an open, low-cost, high-throughput stablecoin infrastructure with a sharing economy mechanism to meet the needs of the internet economy and global enterprise-level payments.
2 hours ago
Pump.fun is discontinuing support for its tokenized agent issuance feature, stating it will focus on optimizing retail user trading experience.
Pump.fun announced it will immediately cease support for its Tokenized Agent token issuance feature. The feature will no longer be available for new token launches, though projects that have already activated it will remain unaffected. The platform noted that over recent months, consistent community feedback has pointed out that excessive issuance options have sparked unnecessary user vs. user (PVP) competition. Moving forward, Pump.fun will prioritize issuance models and product features that explicitly enhance retail trading experiences.
Crypto whales are repositioning for July, and on-chain flows tell the story. Even as several large tokens slipped over the past 24 hours, BeInCrypto analysts tracking big wallets found three altcoins for July drawing fresh accumulation.
The selection rests on whale balance shifts paired with hard protocol data, not price guesses.
Aave (AAVE)Aave anchors this list of altcoins for July because its on-chain base keeps expanding. The whale bid here comes from mid-sized holders, not one large address.
Want more token insights like this? Sign up for Editor Harsh Notariya’s Daily Crypto Newsletter here.
The 10,000 to 100,000 AAVE wallet cohort, the smaller whales, lifted holdings from 4.09 million to 4.27 million over the past 48 hours. That is roughly 180,000 AAVE added, worth about $16 million. The move reads as broad crypto whale accumulation rather than a single outlier trade.
AAVE Whale Cohort Accumulation: SantimentThis buying makes more sense alongside the protocol numbers. Aave TVL, or Total Value Locked, the value of assets deposited in a protocol, sits near $13.04 billion, with borrowers drawing about $10.25 billion in active loans, according to DeFiLlama. That activity throws off roughly $937 million in annualized fees. Set against AAVE’s market value near $1.4 billion, the protocol generates fees worth about two-thirds of the token’s entire market cap each year.
Aave Value Vs Market Cap: DeFiLlamaFor DeFi tokens, that cash base is what turns the smaller-whale bid into a fundamental call rather than a momentum guess.
AAVE eased about 1.6% over 24 hours to $90.49. Yet the soft session did not stop mid-tier whale wallets from adding. Their willingness to accumulate into weakness suggests they treated the dip as an entry rather than a warning, keeping AAVE among the firmer setups for July.
Uniswap (UNI)Uniswap earns a place among these altcoins for July, though the whale signal is steadier than aggressive. Large holders are adding, but only at the margin.
Supply held by whales, with exchanges excluded, edged up from 778.56 million to 778.94 million UNI just hours ago. The addition is modest, near 380,000 UNI, so this looks like careful on-chain whale activity rather than a rush to load up.
UNI Whale Supply: SantimentThe patient stance makes sense once the fee switch is followed through. Heavy Uniswap trading volume, near $2.2 billion a day on-chain in June, now feeds a mechanism that buys back and burns UNI.
Uniswap DEX Volume: DuneThat sink pulled roughly $22.5 million of UNI out of supply in H1 2026, according to DeFiLlama. So the float tightens as whales add. Their marginal buying lands on a shrinking supply, and that consequence gives the bid weight.
Uniswap Fee Switch UNI Burn: DeFiLlamaUNI slipped about 2.4% over 24 hours to $2.87 and has traded flat for weeks. With whales adding cautiously rather than chasing, the token sits among altcoins to watch where conviction is building slowly. For now the steady flows and heavy volume matter more than the quiet price, leaving UNI a slower-burn name for July.
Ethena (ENA)Ethena delivers the boldest whale move among these altcoins for July, and it arrives against a falling price. That tension makes it the most interesting setup in the group.
Over the past 24 hours, ENA whale balances jumped about 3,166%, climbing from near 0.63 million to 20.63 million ENA. That means whales scooped up roughly 20 million ENA in a single day, worth about $1.5 million. The one-day surge marks the most aggressive accumulation in this group, and it landed while broader sentiment stayed soft.
ENA Whale Accumulation: NansenThe timing tracks Ethena’s recovery. USDe supply on Ethereum, the protocol’s synthetic dollar in circulation, has climbed about 19% off its late-April deleveraging low and held near $4.5 billion for six weeks, according to Dune Analytics. Because USDe is Ethena’s fee base, a rebuilding supply points to returning yield demand and fees accruing to ENA. For whales, a stabilizing stablecoin signals the unwind has passed.
USDe Supply Recovery: DuneHere the signals clash. ENA fell about 4.4% over 24 hours, yet whales expanded holdings sharply. The split suggests large holders are buying the dip while price lags behind on-chain demand. When aggressive accumulation meets a soft tape, the gap usually resolves one way or the other, and for July the whale bid is the stronger signal on this token.
Survey: 88% of enterprises plan to adopt stablecoins within the next year, with cross-border payment costs reduced by an average of 35%.
Payment infrastructure company Cybrid has released a new survey report indicating stablecoins are rapidly gaining traction in enterprise payment scenarios. The survey found that 42% of participating enterprises already use stablecoins for cross-border payments, while 88% said they are likely or very likely to adopt stablecoins within the next 12 months—only 2% of firms stated they will continue to rely entirely on traditional payment systems. According to the report, enterprises using stablecoins save an average of 35% on cross-border payment costs, with firms processing over $100 million in monthly payments achieving an average cost reduction of 47%. Payroll and contractor payments represent the most prominent use case, followed by supplier payments, customer payments, investment and revenue management, and treasury management, among others. Additionally, 71% of respondents identified a clear regulatory framework as the primary factor driving further mainstream adoption of stablecoins, outranking considerations such as infrastructure provider credibility and system integration. The survey was conducted from April to May this year, covering 468 senior executives from tech, financial services, and e-commerce sectors in the United States, Canada, and the United Kingdom.
2 hours ago
FalconX secures EU MiCA license, allowing it to offer compliant crypto services to institutional clients in Europe.
Institutional digital asset broker FalconX announced it has obtained the EU’s Markets in Crypto-Assets (MiCA) license issued by the Malta Financial Services Authority (MFSA), enabling it to provide compliant digital asset trading, custody, liquidity and related institutional services across the European Union (EU) and European Economic Area (EEA). FalconX stated that this license allows it to operate across EU member states under a unified regulatory framework, eliminating the need for individual country-specific licenses. Currently, the firm serves over 2,000 institutional clients worldwide, including asset management firms, hedge funds, banks and family offices, with cumulative transaction volumes exceeding $2.5 trillion and over $8 billion in institutional financing disbursed. FalconX noted that as the MiCA regulatory framework is fully implemented, institutional clients’ demand for compliant trading, custody and liquidity services continues to grow, and regulatory credentials are becoming a key competitive advantage in Europe’s digital asset market.
2 hours ago
Guo Wengui sentenced to 30 years in prison in connection with a fraud case involving over $1 billion.
A US court has sentenced Miles Guo (also known as Ho Wan Kwok) to 30 years in prison. In 2024, a jury convicted Guo on multiple charges including racketeering, fraud, and money laundering, with his formal sentencing now issued. Prosecutors stated that Guo defrauded over $1 billion from global victims through a series of related scam schemes spanning five years. Notably, in 2021, he promoted the cryptocurrency project Himalaya Coin (H-Coin), claiming the tokens were backed by 20% gold reserves and promising to cover all investors’ losses, raising approximately $500 million in total. Additionally, the court previously ordered the forfeiture of nearly $900 million in Guo’s illegal proceeds, as well as his luxury mansion in New Jersey and multiple high-end vehicles. Guo had close ties to Steve Bannon, a former senior advisor to US President Donald Trump; Bannon was arrested in 2020 aboard Guo’s yacht.
2 hours ago
The first-half 2026 funding rankings have been released, with Kalshi and Polymarket raising a combined $1.8 billion.
According to statistics, the 14 largest global funding rounds in the first half of 2026 raised a total of $4.3 billion, with prediction markets, AI, and payment sectors drawing the most investor interest. Specifically, prediction market platform Kalshi topped the list with a $1.2 billion funding round, while Polymarket secured $600 million—together, the two raised $1.8 billion, accounting for over 40% of the total capital of the top 14 rounds. In the AI space, Replit, Exa AI, and OpenRouter closed funding rounds of $400 million, $250 million, and $113 million respectively. For blockchain projects, Canton Network, Arc, and Morpho raised $355 million, $222 million, and $175 million respectively. Meanwhile, payment, RWA, infrastructure, and compliance projects including Rain, Slash, Goldcom, Alpaca, and Elliptic also featured on the list.
2 hours ago
Open Standard launches stablecoin Open USD, with over 140 institutions including Visa, BlackRock, and Coinbase participating.
Open Standard has announced the launch of Open USD (OUSD), a new stablecoin for global fund flows, noting that over 140 enterprises have joined its ecosystem, including financial, payment, and crypto industry players such as Visa, Stripe, Mastercard, American Express, BlackRock, BNY, DBS, Coinbase, OKX, MetaMask, Aave, Ripple, Fireblocks, Solana, and Polygon. According to the introduction, Open USD follows three core design principles: supporting zero-cost, large-scale minting and redemption for enterprises; returning all reserve asset yields to partners after deducting a small management fee; and being governed by a board of directors composed of independent firm Open Standard and its partners, rather than controlled by a single issuer. Open Standard states that Open USD will officially launch later this year, with the goal of building an open, low-cost, high-throughput stablecoin infrastructure with a sharing economy mechanism to meet the needs of the internet economy and global enterprise-level payments.
2 hours ago
Pump.fun is discontinuing support for its tokenized agent issuance feature, stating it will focus on optimizing retail user trading experience.
Pump.fun announced it will immediately cease support for its Tokenized Agent token issuance feature. The feature will no longer be available for new token launches, though projects that have already activated it will remain unaffected. The platform noted that over recent months, consistent community feedback has pointed out that excessive issuance options have sparked unnecessary user vs. user (PVP) competition. Moving forward, Pump.fun will prioritize issuance models and product features that explicitly enhance retail trading experiences.
Ondo Finance Brings 430+ Tokenized Equities to Uniswap@OndoFinance has officially integrated more than 430 tokenized U.S. stocks and ETFs into the @Uniswap ecosystem, making the assets accessible directly through the Uniswap frontend on both @Ethereum and @BNBChain. The move connects two of DeFi's most prominent platforms and opens up round-the-clock on-chain access to some of the world's most traded equities for eligible non-U.S. participants.
Ondo Finance expanded its Global Markets offering by adding 173 tokenized stocks and ETFs earlier this month, bringing the platform's total catalog to more than 430 assets spanning Ethereum, Solana, and BNB Chain. The Uniswap integration now routes those assets through the broader decentralized liquidity network.
Uniswap has integrated tokenized securities from issuers including Ondo, xStocks, and Backed, allowing users to trade on-chain versions of assets like SpaceX, Apple, Tesla, and NVIDIA that track underlying stock prices through the Uniswap web app, wallet, and API. The integration uses Uniswap v4 hooks for compliance features such as KYC and allowlists.
UniswapX Routing and 24/7 On-Chain TradingThe assets are routable through the UniswapX API, enabling efficient order execution and deep liquidity for continuous on-chain equity trading. This is a meaningful step beyond traditional market hours: Ondo is live with 24/7 instant minting and redemption on tokenized U.S. stocks and ETFs, including on weekends, now across Ethereum and BNB Chain, with Solana coming soon.
Ondo Global Markets gives non-U.S. investors on-chain access to publicly traded U.S. stocks and ETFs, with each token backed 1:1 by the underlying security, purchased and held in custody by a U.S.-registered broker-dealer. The tokens provide holders with economic exposure to the value of the underlying publicly traded assets, including dividends, but are not themselves stocks or ETFs and do not provide rights to hold or receive the underlying assets.
Tokenized stocks have emerged as the fastest-growing asset class on Ethereum in 2026, with Ondo and xStocks leading the sector, according to Token Terminal data. Ondo Global Markets is also the primary issuer behind BNB Chain overtaking Solana in cumulative tokenized stock trading volume. The Uniswap integration adds another layer of distribution and liquidity to a product category that is growing rapidly across decentralized finance.
Sources:
Ondo Finance: Ondo Global Markets
The Defiant: Ondo Finance Adds 173 Tokenized Stocks and ETFs
BNB Chain Blog: Ondo Global Markets on BNB Chain
Survey: 88% of enterprises plan to adopt stablecoins within the next year, with cross-border payment costs reduced by an average of 35%.
Payment infrastructure company Cybrid has released a new survey report indicating stablecoins are rapidly gaining traction in enterprise payment scenarios. The survey found that 42% of participating enterprises already use stablecoins for cross-border payments, while 88% said they are likely or very likely to adopt stablecoins within the next 12 months—only 2% of firms stated they will continue to rely entirely on traditional payment systems. According to the report, enterprises using stablecoins save an average of 35% on cross-border payment costs, with firms processing over $100 million in monthly payments achieving an average cost reduction of 47%. Payroll and contractor payments represent the most prominent use case, followed by supplier payments, customer payments, investment and revenue management, and treasury management, among others. Additionally, 71% of respondents identified a clear regulatory framework as the primary factor driving further mainstream adoption of stablecoins, outranking considerations such as infrastructure provider credibility and system integration. The survey was conducted from April to May this year, covering 468 senior executives from tech, financial services, and e-commerce sectors in the United States, Canada, and the United Kingdom.
2 hours ago
FalconX secures EU MiCA license, allowing it to offer compliant crypto services to institutional clients in Europe.
Institutional digital asset broker FalconX announced it has obtained the EU’s Markets in Crypto-Assets (MiCA) license issued by the Malta Financial Services Authority (MFSA), enabling it to provide compliant digital asset trading, custody, liquidity and related institutional services across the European Union (EU) and European Economic Area (EEA). FalconX stated that this license allows it to operate across EU member states under a unified regulatory framework, eliminating the need for individual country-specific licenses. Currently, the firm serves over 2,000 institutional clients worldwide, including asset management firms, hedge funds, banks and family offices, with cumulative transaction volumes exceeding $2.5 trillion and over $8 billion in institutional financing disbursed. FalconX noted that as the MiCA regulatory framework is fully implemented, institutional clients’ demand for compliant trading, custody and liquidity services continues to grow, and regulatory credentials are becoming a key competitive advantage in Europe’s digital asset market.
2 hours ago
Guo Wengui sentenced to 30 years in prison in connection with a fraud case involving over $1 billion.
A US court has sentenced Miles Guo (also known as Ho Wan Kwok) to 30 years in prison. In 2024, a jury convicted Guo on multiple charges including racketeering, fraud, and money laundering, with his formal sentencing now issued. Prosecutors stated that Guo defrauded over $1 billion from global victims through a series of related scam schemes spanning five years. Notably, in 2021, he promoted the cryptocurrency project Himalaya Coin (H-Coin), claiming the tokens were backed by 20% gold reserves and promising to cover all investors’ losses, raising approximately $500 million in total. Additionally, the court previously ordered the forfeiture of nearly $900 million in Guo’s illegal proceeds, as well as his luxury mansion in New Jersey and multiple high-end vehicles. Guo had close ties to Steve Bannon, a former senior advisor to US President Donald Trump; Bannon was arrested in 2020 aboard Guo’s yacht.
2 hours ago
The first-half 2026 funding rankings have been released, with Kalshi and Polymarket raising a combined $1.8 billion.
According to statistics, the 14 largest global funding rounds in the first half of 2026 raised a total of $4.3 billion, with prediction markets, AI, and payment sectors drawing the most investor interest. Specifically, prediction market platform Kalshi topped the list with a $1.2 billion funding round, while Polymarket secured $600 million—together, the two raised $1.8 billion, accounting for over 40% of the total capital of the top 14 rounds. In the AI space, Replit, Exa AI, and OpenRouter closed funding rounds of $400 million, $250 million, and $113 million respectively. For blockchain projects, Canton Network, Arc, and Morpho raised $355 million, $222 million, and $175 million respectively. Meanwhile, payment, RWA, infrastructure, and compliance projects including Rain, Slash, Goldcom, Alpaca, and Elliptic also featured on the list.
2 hours ago
Open Standard launches stablecoin Open USD, with over 140 institutions including Visa, BlackRock, and Coinbase participating.
Open Standard has announced the launch of Open USD (OUSD), a new stablecoin for global fund flows, noting that over 140 enterprises have joined its ecosystem, including financial, payment, and crypto industry players such as Visa, Stripe, Mastercard, American Express, BlackRock, BNY, DBS, Coinbase, OKX, MetaMask, Aave, Ripple, Fireblocks, Solana, and Polygon. According to the introduction, Open USD follows three core design principles: supporting zero-cost, large-scale minting and redemption for enterprises; returning all reserve asset yields to partners after deducting a small management fee; and being governed by a board of directors composed of independent firm Open Standard and its partners, rather than controlled by a single issuer. Open Standard states that Open USD will officially launch later this year, with the goal of building an open, low-cost, high-throughput stablecoin infrastructure with a sharing economy mechanism to meet the needs of the internet economy and global enterprise-level payments.
2 hours ago
Pump.fun is discontinuing support for its tokenized agent issuance feature, stating it will focus on optimizing retail user trading experience.
Pump.fun announced it will immediately cease support for its Tokenized Agent token issuance feature. The feature will no longer be available for new token launches, though projects that have already activated it will remain unaffected. The platform noted that over recent months, consistent community feedback has pointed out that excessive issuance options have sparked unnecessary user vs. user (PVP) competition. Moving forward, Pump.fun will prioritize issuance models and product features that explicitly enhance retail trading experiences.
Ethlabs Releases First-Week FAQ, Outlines Three Strategic Directions
Nonprofit organization Ethlabs released an FAQ in its first week, stating its goal is to advance Ethereum as the core of global financial infrastructure. Its current work focuses on three major directions: chain-layer scaling (including L1 execution scaling, blob scaling and faster finality), platform building (cross-chain interoperability, block construction and EVM standardization), and ecosystem growth and marketing. The team consists of five former core researchers from the Ethereum Foundation, maintaining a complementary and collaborative relationship with the Ethereum Foundation while operating as an independent nonprofit to ensure neutrality and a long-term public-interest orientation. The organization believes that ETH is highly tied to Ethereum's success, and as DeFi, asset issuance and institutional adoption grow, ETH's value-capture capability will continue to strengthen. Ethlabs has not yet disclosed a specific funding amount, but said it has secured sufficient funds to support operations for the next 2–3 years, and its community funding round remains open.
Singapore Court Orders Terraform to Pay Over US$3 Million to 40 UST Investors
The Singapore International Commercial Court has awarded over US$3 million in total damages to 40 claimants related to the collapse of TerraUSD (UST) in a fraud case against Terraform Labs and its founder Do Kwon. The second phase of the case involved 275 investors, with compensation amounts calculated based on factors such as the quantity and duration of UST held by each claimant. The court found that the defendants made fraudulent representations. This judgment is the second batch ruling for this group of collective claims, with subsequent claims and enforcement progress still to be disclosed.
BlackRock Transfers Over 7,400 Bitcoin and 8,150 Ether to Coinbase
BlackRock transferred 7,432 BTC (approx. US$446 million) and 8,150 ETH (approx. US$12.89 million) to Coinbase addresses.
Strategy Launches Digital Credit Capital Framework, Board Authorizes US$2 Billion Securities Buyback and Approves Up to US$1.25 Billion BTC Liquidation Capacity
Strategy announced the launch of a Digital Credit Capital Framework to strengthen digital credit, improve liquidity and maintain long-term bitcoin exposure. The company increased its dollar reserves to US$2.55 billion, covering approximately 17.4 months of dividends, to be used solely for dividend and interest payments and maintained at a minimum of 12 months. The STRC dividend rate was raised by 50 basis points to 12%, with a target range of US$99 to US$100. Strategy's board also authorized up to US$1 billion in digital credit securities repurchases and up to US$1 billion in Class A common stock repurchases, bringing total buyback capacity to US$2 billion. The company also approved up to US$1.25 billion in BTC liquidation capacity to supplement reserves or support capital operations. Last week, Strategy made no bitcoin purchases, keeping its holdings unchanged at 847,363 bitcoins.
BitMine Adds 27,084 ETH Last Week, Total Holdings Rise to 5.7 Million
According to an announcement, BitMine increased its holdings by 27,084 ETH last week, bringing total holdings to 5,700,040 ETH as of June 28, accounting for approximately 4.7% of Ethereum's total supply and achieving 94% of its goal to “hold 5% of ETH supply.” BitMine disclosed that the total value of its crypto assets, cash and other investments is approximately US$9.8 billion, including US$555 million in cash and securities, 206 Bitcoin, US$180 million in Beast Industries equity and US$74 million in Eightco investment. Staked ETH has risen to 4.879 million, over 85% of total holdings, with an annualized staking yield of about US$211 million, further cementing its position as the world's largest ETH reserve institution.
BlackRock's Aladdin Platform Deepens Support for Ethena's Stablecoin Products
BlackRock and Ethena Labs announced a deepening of cooperation. BlackRock's enterprise investment and portfolio management platform Aladdin will add Ethena's stablecoin USDe to its list of supported crypto assets and provide a US$100 million liquidity facility through Securitize to service BlackRock's BUIDL fund. The new arrangement allows eligible BUIDL clients to redeem BUIDL for USDC, USDtb and other stablecoins outside of market hours and swap back to BUIDL, enhancing interoperability between on-chain Treasury funds and stablecoins. USDe is a synthetic dollar that can generate higher yields, unlike USDC and USDT, which are backed by fiat reserves. BUIDL currently has a locked volume of approximately US$3 billion.
Strategy's Unrealized Losses at About US$13.262 Billion, BitMine at About US$10.397 Billion
According to statistics from Ember, bitcoin treasury company Strategy (MSTR) did not continue purchasing BTC last week, with the market focusing more on its ability to use dollar reserves for interest payments. Strategy currently holds about 847,400 BTC at an average cost basis of approximately US$75,700, resulting in an unrealized loss of about US$13.262 billion, a drawdown of roughly 20.7%. Ethereum treasury company BitMine (BMNR) last week added 27,084 ETH at about US$1,648, bringing total holdings to roughly 5.7 million ETH at an average cost of around US$3,399, with an unrealized loss of approximately US$10.397 billion and a drawdown of about 53.6%.
U.S. Senator Mark Warner to Introduce AI Agent Draft Legislation, Regulatory Focus Shifts to Agent Systems
U.S. Senator Mark Warner plans to release a discussion draft related to AI on Monday, focusing on the fast-growing field of "AI agents." The U.S. Congress has already proposed dozens of AI-related bills covering deepfakes, model safety and other areas, and this draft extends regulatory focus further to the cutting-edge domain of AI agents. According to reports, compared with conversational applications like ChatGPT and Claude, AI agents are becoming a key form driving AI technology growth and capital investment, widely used in customer service systems, automated task processing and various online service scenarios, becoming an important development direction for the next phase of the AI industry.
U.S. Supreme Court Refuses to Allow Trump to Remove Fed Governor Lisa Cook
The U.S. Supreme Court ruled 5-4 to allow Federal Reserve Governor Lisa Cook to remain in her position for now, with the removal dispute between her and President Donald Trump to continue through the judicial process. Trump had previously sought to dismiss her based on unsubstantiated mortgage fraud allegations. The case is seen as a key legal test of whether a U.S. president can directly intervene in Fed personnel matters and influence the central bank's independence. The Supreme Court's decision provides legal protection for Cook to retain her position until the case is finally decided.
MiCA About to Take Effect: Millions of EU Users May Be Forced to Switch Trading Platforms
The EU's Markets in Crypto-Assets Regulation (MiCA) will fully take effect on July 1. The European Securities and Markets Authority (ESMA) requires crypto-asset service providers that have not obtained a MiCA license to cease or restrict services in the EU and assist users in transferring assets or self-custody. SwissBorg senior executive Alex Fazel said that this compliance deadline could force over 10 million European users to find new platforms. The CEO of OKX Europe estimates that up to 80% of the roughly 3,000 existing virtual asset service providers in Europe may be unable to continue operations after the new rules take effect. Meanwhile, platforms such as Coinbase and OKX that are compliant or applying for licenses are attracting affected users through deposit and transfer rewards.
Chainalysis Launches Draft Blockchain Tracing Standard
Blockchain analytics firm Chainalysis has released a blockchain tracking ontology proposal, aiming to establish an industry standard for on-chain address clustering and tracing. The document breaks down "cluster" into more granular structures such as "wallet fragments" and proposes a two-layer framework: the first layer constructs an address relationship graph, and the second layer annotates analysis confidence levels, helping law enforcement and prosecutors determine whether the data can be used in cases. Chainalysis bases its proposal on hands-on experience from the U.S. Department of Justice money-laundering case against Roman Sterlingov, co-founder of the mixing service Bitcoin Fog, where the judge deemed its Reactor tool "highly reliable" following a Daubert hearing. The company stressed that on-chain analysis alone cannot directly identify end-user identities and must be combined with offline information such as court subpoenas, and called on the industry to maintain independent review and feedback on its methodology.
UK FCA releases final crypto regulatory framework, mandatory licensing regime to take effect in October 2027
The UK Financial Conduct Authority (FCA) finalized a comprehensive crypto regulatory framework on Tuesday, with the mandatory authorisation regime taking effect on October 25, 2027. The framework covers prudential requirements, market abuse supervision and stablecoin standards, applying to crypto trading platforms, custodians, stablecoin issuers, lending and staking service providers, and certain DeFi firms with identifiable controlling entities. Firms may apply for authorisation between September 30, 2026 and February 28, 2027; existing anti-money laundering registrations will not automatically convert. On trading platform rules, the FCA requires UK qualifying crypto asset trading platforms to conduct due diligence, meet admission criteria and publish disclosure documents, while removing the previous exemption that allowed fungible crypto assets to be listed without a disclosure document. Market abuse rules cover insider trading and market manipulation. For stablecoins, the FCA removed the obligation to forecast redemptions of reserve assets, permitted limited intragroup custody arrangements, and lowered the K-SII capital factor for stablecoin issuance from 2% to 1%. Crypto assets on qualifying platforms will be subject to a uniform 40% net exposure requirement and a 40% counterparty default volatility adjustment. FCA Executive Director of Payments and Digital Finance David Geale called the framework a major milestone for UK crypto regulation, providing regulatory certainty while preserving room for innovation.
MSTR and STRC both close up over 12%, edge higher after hours
Market data shows Strategy Class A common stock MSTR closed at $92.68 on Monday, June 29, up 12.60% on the day; after-hours price $93.25, up 0.61%. Strategy perpetual preferred stock STRC closed at $83.67 on June 29, up 12.20%; after-hours price $83.76, up 0.11%. Earlier yesterday, Strategy launched a digital credit capital framework, with the board authorizing $2 billion in securities buybacks and approving a facility to monetize up to $1.25 billion in BTC.
BNY Mellon and Circle expand partnership, add USDC minting and redemption functionality
BNY Mellon (BNY) and Circle Internet Group have expanded their partnership, adding USDC minting and redemption capabilities to its digital asset custody platform. Institutional clients can now hold USDC in BNY digital wallets and direct the bank to execute two-way conversions between USD and USDC. USDC becomes the first stablecoin supported on the platform; BNY said it will gradually support additional stablecoin issuers, initially supporting USDC on Ethereum and Solana. BNY was already the primary custodian for USDC reserves, and the new service creates a seamless bridge between traditional fiat and digital assets.
JPMorgan warns yield-bearing stablecoins could morph into 'shadow banks,' calls for tougher regulation
JPMorgan Global Co-Head of Payments Umar Farooq and CEO of Digital Asset & Blockchain Solutions Peter Muriungi jointly published an article calling for a comprehensive U.S. regulatory framework for digital assets, though without directly mentioning the Clarity Act. The two noted that tokenization and programmable money bring innovation opportunities for global payments and 24/7 settlement, but warned that allowing stablecoins to pay yield could cause the innovation to slide into the "shadow banking" realm. The banking sector widely believes that yield-bearing stablecoins could squeeze bank deposits and threaten credit. Farooq and Muriungi stressed that offering "rewards" or "cashback" on balances without the regulatory standards of traditional deposit products would exacerbate consumer confusion and run risk, and that stablecoins should adhere to the same regulatory standards as deposit products while ensuring AML tools are not overlooked.
U.S. SEC issues final judgment in NanoBit crypto fraud case, fines exceed $5 million
The U.S. Securities and Exchange Commission (SEC) has issued a final judgment against crypto platform NanoBit, with the parties ordered to pay over $5 million in penalties. The case was originally filed in September 2024 under the Biden administration, with the SEC alleging that NanoBit and related individuals impersonated financial professionals in WhatsApp groups to gain investors' trust between September 2023 and June 2024, inducing them to invest in NanoBit and falsely claiming its affiliate was an SEC-registered broker. The SEC said the purported financial professionals promoted fake initial coin offerings, but no trades occurred on the NanoBit platform, and investor funds actually flowed to scam participants — over $2 million was wired to Hong Kong bank accounts, and hundreds of thousands of dollars in crypto assets were misappropriated. The SEC also issued an investor alert warning that fraudsters use social media and instant messaging apps to perpetrate investment scams.
Housing bill containing CBDC ban sent to Trump, 10 days to sign or veto
U.S. House Speaker Mike Johnson on Monday sent the housing bill containing a CBDC ban (through 2030) to President Trump, who has about 10 days to sign, veto or pocket the legislation.
FG Nexus sells another 3,375 ETH, cumulative losses exceed $86.8 million
FG Nexus sold another 3,375 ETH ($5.34 million), bringing cumulative losses to over $86.8 million. The firm bought 50,770 ETH for $196 million and has now sold 41,675 ETH ($94.51 million).
Tom Lee: Crypto market faces both headwinds and tailwinds, pessimism may have peaked
BitMine Chairman Tom Lee posted on X saying he believes cryptocurrencies are high-volatility assets, and that Bitcoin and Ethereum currently face multiple macro headwinds: market expectations of Fed rate hikes, the unresolved Clarity Act legislation, AI-investment-driven FOMO, and private credit diverting funds. But tailwinds also exist: tokenization is a super trend, crypto is positioned to benefit downstream from AI, money is being digitized into software form, and extreme market pessimism may have approached peak pain.
Securitize set to list on NYSE after investors approve SPAC merger
Tokenization infrastructure provider Securitize has received shareholder approval for its SPAC merger with Cantor Equity Partners II (CEPT), with the deal expected to close Wednesday. The merged company will list on the New York Stock Exchange on Thursday under the ticker SECZ. CEPT shares surged as much as 20% intraday Monday.
Crypto KOL Ansem airdrops 67.38 million ANSEM to over 700 wallets
Crypto KOL Ansem airdropped 67.38 million ANSEM ($9.43 million) to over 700 wallets. Of that, 49.89 million ANSEM ($6.98 million) went to seven wallets, which have sold 38.29 million ANSEM (current value $5.36 million) for $1.29 million, and still hold 11.6 million ANSEM ($1.62 million).
USD/JPY exchange rate breaks above 162, first time in nearly 40 years
The yen's depreciation pressure continues to intensify, with USD/JPY breaking above the 162 level, the first time since December 1986.
Stream Finance Initiates Creditor Registration, Advancing 'Global Settlement' Process
The collapsed DeFi yield protocol Stream Finance has begun collecting information from potential creditors through an online form, preparing for a "potential global solution." Stream first revealed intentions to wind down back in May. The debt structure is complex: direct holders of xUSD, xBTC, and xETH form one class of creditors, while institutional lenders that accepted Stream tokens as collateral (curators on Euler, Morpho, Silo, Gearbox) constitute another. Research firm Yields and More estimates direct debt exposure at approximately $285 million, with the largest curator TelosC at about $124 million and Elixir at about $68 million (representing 65% of its deUSD stablecoin reserves). Stream has collected claim information but has not committed to a specific payout plan, and creditor priority has not yet been determined. Stream is also involved in a legal dispute with former operator Caleb McMeans. Last November, Stream disclosed that an external fund manager lost roughly $93 million in assets, causing xUSD to depeg and freezing approximately $160 million in deposits. xUSD is currently quoted at around $0.08, down about 92% from its peg price.
US CFTC Launches Broad Investigation into Polymarket, Covering Social Media Activity and Fake Trades
The U.S. Commodity Futures Trading Commission (CFTC) is conducting a broad investigation into the prediction market platform Polymarket, covering aspects including its social media activity. This follows a Wall Street Journal report that Polymarket hired dozens of primarily college-age social media creators to film fake trading videos to attract users. The probe now covers other facets of the company's business. The CFTC and the Department of Justice last year concluded an investigation into whether Polymarket violated a ban on U.S. users, but some U.S. users still bypass the ban via VPNs and other means to access its main platform. Since reaching a settlement with the CFTC in 2022, Polymarket is technically barred from allowing U.S. users on its main platform, but the company is taking steps to reintroduce its main exchange to the U.S. and working with the CFTC to lift the ban. Senators Adam Schiff and John Curtis sent a letter to the CFTC last Thursday, asking the agency to confirm whether it is investigating Polymarket's advertising practices and how the agency has prevented Polymarket from attracting U.S. users since the 2022 action.
OpenClaw Native Mobile App Launches on Apple App Store and Google Play Store
OpenClaw announced the launch of its native OpenClaw mobile app on the Apple App Store and Google Play Store. Users can pair their phones with a private OpenClaw gateway to access localized AI assistant features, including chat, voice calls, approval management, and device-aware automation. The app adheres to a "local-first" principle, with all keys, configurations, and permissions under the user's full control, and device permissions enabled on-demand.
A Whale Opens a New 22,000 ETH Short Position at 25x Leverage, Worth $35 Million
The whale "0xa6e" opened a new short position of 22,000 ETH at 25x leverage, worth $35 million.
Moonshot AI: All Fundraising Activities Are Handled Solely by the Company; Some Institutions and Individuals Suspected of Fraud
On June 29, AI large model company Moonshot AI issued a statement saying that numerous instances of false fundraising and equity transaction information under the name "Moonshot AI" have recently appeared in the market, and the company has identified some institutions and individuals suspected of fraud. In response, Moonshot AI stated that all its fundraising activities are handled solely by the company. The company has not appointed or authorized any third-party institution to act as a financial advisor or fundraising advisor for any of Moonshot AI's financing transactions (including new share transactions and existing share transfers). Moonshot AI emphasized that transfers of the company's existing shares (including ordinary shares, incentive equity, etc.) must be approved internally by the company. Any existing share transaction conducted without company approval is invalid. The company will reject any form of ownership registration and reserves the right to pursue breach of contract liability against the transferor through all legal means. Additionally, the allocation of new share financing quotas is confirmed based on actual funds received; the company has not made any prior commitments or locked quotas with any institution or individual, nor will it proactively request or authorize any institution to issue asset proof documents. Any behavior claiming to have locked an investment quota in Moonshot AI, presenting documents purportedly "sealed by the company to guarantee quotas," or requesting asset proof documents in the company's name is false or fraudulent, and Moonshot AI assumes no responsibility whatsoever.
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Not financial or tax advice. PANews content is strictly educational and informational and is not investment advice, financial advice, tax advice, legal advice, or a solicitation to buy or sell any digital asset, security, or financial product. Do your own research and consult qualified advisers.
Disclosure. PANews may publish sponsored content, partner content, advertisements, affiliate links, event promotions, and market commentary involving Web3 projects, service providers, or financial products. PANews personnel, contributors, or affiliates may hold digital assets or other interests related to covered topics. See our Terms of Service.
Ethereum price today: $1,580BitMine acquired 27,084 ETH last week following its inclusion in the Russell 1000 index.ETH ETFs recorded a seventh straight week of outflows and their largest weekly negative flow since January.ETH briefly recovers to $1,600 but faces key descending trendline resistance.Ethereum (ETH) treasury firm BitMine Immersion slowed the pace of its accumulation of the top altcoin following increased weakness across the crypto market.
The Las Vegas-based firm purchased 27,084 ETH last week, increasing its total holdings to 5.7 million ETH worth $9.22 billion at the time of writing. Last week's purchase represents its fourth-lowest so far this year.
BitMine also increased its staked assets by 160,480 ETH during the period. Its total staked ETH is now at 4.879 million ETH, earning annualized staking revenue of $211 million.
The move comes as ETH continues to experience strong risk-off sentiment across the board. Last week, US spot Ethereum exchange-traded funds (ETFs) recorded a seventh consecutive week of net outflows and their largest negative flow since January worth $273.3 million, per SoSoValue data. The products are currently in their longest weekly outflow streak.
"This past week was a challenging one for crypto investors as ETH fell by 8%, even as Ethereum witnessed notable positive developments such as the creation of Ethlabs, and even the Bank of England softened its stance around stablecoins," said BitMine Chairman Thomas Lee in a Monday statement. "We are nearing quarter-end for June, and it is not surprising to see ‘window dressing’ leading to investors reducing their holdings in assets which have fallen in the past 3 months."
Meanwhile, BitMine was added to the Russell 1000 Large Cap index last week following the index's annual reconstitution. The company claims the Investment Company Institute (ICI) estimates that 20% of a company's shares are held in passive funds and ETFs.
“Being added to the Russell 1000 is expected to add hundreds and possibly thousands of additional institutional investors as equity owners of BitMine,” added Lee.
Last week, BitMine, together with ETH treasury SharpLink, also announced that it will fund the recently launched Ethereum research and development non-profit Ethlabs.
BitMine shares closed trading with a 1.77% gain on Monday, but remained below its net asset value.
Ethereum Price Forecast: ETH struggles at descending trendline resistanceOn the daily chart, ETH is extending its bearish bias, with price remaining well below the 20-, 50- and 100-day Exponential Moving Averages (EMAs), clustered between roughly $1,670 and $2,004.
The top altcoin remains trapped beneath the descending resistance trendline, with the break level near $1,626, while momentum indicators stay soft: the Relative Strength Index (RSI) at 35 and the Stochastic at 26 both hint at lingering downside pressure, with only modest signs of stabilization.
On the topside, initial resistance is seen at the trendline break area around $1,626, followed by the 20-day EMA at $1,670 and the horizontal barrier at $1,741. A sustained recovery above $1,806 and the 50-day EMA at $1,826 would be needed to ease the current bearish tone, with further hurdles at $1,909 and the 100-day EMA at $2,004.
ETH/USDT daily chartOn the downside, immediate support is near $1,524, ahead of a deeper floor at $1,404, while a break below $1,155 would expose a more pronounced medium-term bearish extension.
(The technical analysis of this story was written with the help of an AI tool.)
US spot Bitcoin ETFs hemorrhaged $231 million on June 29, extending a painful streak to eight consecutive days of net withdrawals. Spot Ethereum ETFs joined the exodus with $30 million leaving the same day, according to data from SoSoValue.
The June rout by the numbers The $231 million Bitcoin outflow on June 29 wasn’t even the worst single day this month. On June 10, Bitcoin ETFs saw $214 million in redemptions while Ethereum products lost $35.6 million.
June 2026 is on pace for over $4 billion in total outflows from US spot Bitcoin ETFs. That would make it the largest monthly decline since these products first hit the market in January 2024.
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BlackRock’s IBIT, the dominant fund in the space, has been a significant contributor to the recent redemptions.
On the Ethereum side, the $30.043 million net outflow on June 29 is smaller in absolute terms but still part of a broader negative trend. Ethereum ETFs have historically shown mixed flow patterns, oscillating between modest inflows and outflows. But June has tilted firmly negative.
What’s driving the pullback The short answer: macroeconomics. Rising interest rates make safe-haven assets like Treasury bonds more attractive relative to volatile ones like crypto. When a money market fund pays you a competitive yield for doing essentially nothing, the case for sitting in Bitcoin through a choppy stretch gets harder to make, especially for institutional allocators who answer to risk committees and compliance officers.
What’s changed is the duration and consistency of the selling. Previous outflow episodes tended to reverse within a few days as dip-buyers stepped in. Eight straight days without a positive session suggests something more structural is happening beneath the surface.
What this means for investors For traders watching this space, a few things are worth monitoring closely. First, whether the outflow streak breaks. Second, keep an eye on IBIT specifically. BlackRock’s fund is the bellwether for institutional sentiment in crypto ETFs.
Third, watch the macro calendar. Any shift in Fed rate expectations, whether from economic data surprises or central bank commentary, could rapidly change the calculus for institutional allocators. Crypto’s correlation with rate-sensitive assets means that a dovish surprise could reverse outflows just as quickly as hawkish expectations triggered them.
Disclosure: This article was edited by Editorial Team. For more information on how we create and review content, see our Editorial Policy.
Key Highlights Bitmine purchased 27,084 ETH in the previous week, deploying approximately $43 million at a mean cost of $1,569 per coin. The firm’s Ethereum reserves now total 5.7 million ETH, representing 4.7% of circulating supply, approaching its strategic 5% objective. On June 26, Bitmine secured membership in the Russell 1000 Index, positioning itself for increased institutional capital inflows. BMNR shares advanced 1.7% on Monday, settling at $13.80, despite experiencing a 9% decline across the preceding five trading days. Combined cryptocurrency reserves, liquid assets, and strategic investments total $9.8 billion. Shares of Bitmine Immersion Technologies (BMNR) climbed 1.7% during Monday’s session, finishing at $13.80. This uptick followed a challenging week where the equity declined 9% amid widespread weakness in Ethereum prices.
Bitmine Immersion Technologies, Inc., BMNR
The Ethereum-focused treasury firm expanded its holdings by acquiring over 27,000 ETH during the past week. This strategic accumulation required an investment of approximately $43 million, executing at a mean price of $1,569 per coin.
Current Ethereum reserves at Bitmine have surpassed 5.7 million ETH. This position represents 4.7% of the total 120.7 million token supply currently in circulation.
Bitmine Adds 27,084 ETH, Holdings Reach 5.70 Million ETH
Bitmine announced it acquired an additional 27,084 ETH over the past week, bringing its total holdings to 5.70 million ETH, equivalent to 4.7% of Ethereum’s total supply. The company also reported $555 million in cash… pic.twitter.com/spsaKyN9M8
— Wu Blockchain (@WuBlockchain) June 29, 2026
Company Chairman Tom Lee has publicly established an ambition to control 5% of all circulating Ether. The organization refers to this strategic objective as achieving the “alchemy of 5%.”
Major Index Addition Milestone Bitmine formally entered the Russell 1000 Index on June 26. This benchmark monitors the top 1,000 publicly traded American corporations by market capitalization.
According to Lee, this inclusion may attract hundreds or potentially thousands of institutional investment entities. Numerous mutual funds, exchange-traded products, and retirement portfolios benchmark against the Russell 1000 and face mandates to acquire constituent securities following index additions.
Additional cryptocurrency-related enterprises achieved index milestones during the same period. Sharplink, Forward Industries, Gemini, and Galaxy Digital secured Russell 3000 membership on Friday.
Lee referenced academic studies indicating passive investment vehicles may eventually hold as much as 25% of a security’s outstanding shares following major index incorporation. This phenomenon explains why corporations closely monitor annual reconstitution schedules.
Ethereum Market Volatility Market conditions presented challenges alongside positive developments. Ethereum declined 8% throughout the week, temporarily trading beneath the $1,600 threshold.
Lee attributed portions of the selling pressure to quarterly “window dressing” activity, where portfolio managers reduce exposure to recent underperformers. He acknowledged Ethereum’s negative performance across the past ninety days.
Nevertheless, Lee highlighted several encouraging indicators. He referenced the launch of Ethlabs and increasingly favorable stablecoin regulations from the Bank of England as constructive catalysts for network growth.
In addition to its Ethereum position, Bitmine maintains 206 Bitcoin, a $180 million equity stake in Beast Industries, and $74 million invested in Eightco Holdings. When combined with $555 million in cash and liquid securities, aggregate holdings total $9.8 billion.
The organization has staked approximately 4.9 million ETH via its MAVAN infrastructure. At prevailing market rates, this represents roughly $7.7 billion, with Bitmine forecasting annual staking income approaching $211 million from these assets.
Bitmine maintains its position as the world’s preeminent Ethereum treasury operation. Among all cryptocurrency treasuries globally, it ranks second, behind only Strategy Inc., which controls 847,363 Bitcoin valued near $50 billion.
Trading metrics underscore Bitmine’s market significance. Through June 26, the stock registered average daily trading volume of $643 million across the trailing five-day period, placing it 240th among all domestically listed securities.
On June 10, Bitmine successfully completed an offering of 9.50% Series A Preferred Stock, generating net capital of approximately $273.8 million. These preferred shares currently trade on the NYSE under ticker symbol BMNP, distributing weekly dividend payments.
Bitmine earned recognition on the Fortune 100 Crypto List announced June 11. The methodology combines quantitative analysis from Inca Digital with qualitative assessments from cryptocurrency sector specialists.
Altcoins remain one of the weakest parts of the crypto market, with most Binance-listed tokens still trading below a key long-term trend line.
Summary
Altcoins face broad technical weakness as 84% of Binance listings sit below 200-day averages. The eight-month slump ranks second-longest since 2020, behind the previous bear market drawdown cycle period. Current prices show limited rebounds, with Bitcoin near $59,464 and Ethereum near $1,588 today levels. CryptoQuant analyst Darkfost said about 84% of altcoins available for spot trading on Binance now trade below their 200-day moving averages.
The 200-day moving average tracks an asset’s average price over roughly the past 200 trading days. Traders often use it to measure whether a market has long-term strength or weakness. Darkfost described the current setup as “total underperformance” across most altcoins listed on the exchange.
Altcoin slump becomes second-longest since 2020 The weak trend has lasted nearly eight months, making it the second-longest altcoin underperformance streak since 2020. Darkfost said the only longer period came during the previous bear market, when the same condition lasted about 10 months.
Altcoins performance, source: CryptoQuant analyst Darkfost The analyst also said “every attempt at a momentum recovery has failed outright.” Total 3, a measure of the altcoin market excluding Ethereum, has also closed below its 200-day moving average on the weekly chart. That adds pressure because the weakness is not limited to small tokens.
Market prices show mixed moves Crypto.news market data showed Bitcoin trading at $59,464, down 1.06% over 24 hours and 6.08% over seven days. Ethereum traded at $1,587.79, up 0.4% in 24 hours but down 7.22% over the week.
Some large altcoins showed small daily rebounds. Solana traded at $73.91, up 1.62% over 24 hours and 4.18% over seven days. Hyperliquid traded at $65.39, up 3.74% on the day, while Zcash traded at $398.97, up 3.81% over 24 hours but down 9.09% over seven days.
Bitcoin link remains strong Darkfost said altcoins have stayed highly tied to Bitcoin’s price action during this cycle. That link matters because weak Bitcoin demand can limit altcoin rebounds, even when some tokens post short-term gains.
As previously reported by crypto.news, Darkfost recently flagged a rise in BTC flows into Binance after Bitcoin moved below $60,000. He said average monthly inflows into Binance doubled from 3,880 BTC to 7,600 BTC since April 13, creating possible sell-side pressure.
As reported by crypto.news, crypto search interest has also fallen to a one-year low. That report said retail attention is lower than during the 2022-2023 bear market, even though prices remain far above old cycle lows.
Selective buying becomes harder Darkfost said long weak periods have “historically also presented medium-term opportunities.” He added that finding them now requires more careful asset selection than in earlier cycles.
That view fits the current split in the market. As reported by crypto.news, Hyperliquid and Zcash recently led parts of the altcoin market, but analysts warned that crowded sentiment and stretched indicators could raise pullback risk.
Not financial or tax advice. PANews content is strictly educational and informational and is not investment advice, financial advice, tax advice, legal advice, or a solicitation to buy or sell any digital asset, security, or financial product. Do your own research and consult qualified advisers.
Disclosure. PANews may publish sponsored content, partner content, advertisements, affiliate links, event promotions, and market commentary involving Web3 projects, service providers, or financial products. PANews personnel, contributors, or affiliates may hold digital assets or other interests related to covered topics. See our Terms of Service.
Key Highlights BitMine acquired 27,084 ETH in the past week, marking its fourth-smallest weekly accumulation this year, pushing total reserves to 5.7 million ETH. US-based spot Ethereum ETFs experienced their seventh consecutive week of net redemptions, shedding $273.3 million in the steepest weekly decline since January. Sharplink re-entered the market after an eight-month hiatus, acquiring 39,196 ETH valued at $62.4 million across three consecutive days. Ethereum has declined approximately 50% year-to-date and approaches the possibility of recording three consecutive quarterly losses. Derivatives markets reveal $4.09 billion in short positions compared to $1.31 billion in long positions, highlighting prevailing bearish sentiment among traders. Ethereum’s market value hovers around $1,580 as the blockchain network contends with diminishing corporate accumulation and persistent outflows from investment vehicles. The cryptocurrency has found it difficult to maintain critical price thresholds throughout June.
Ethereum (ETH) Price BitMine Immersion, holding the distinction of being the largest institutional ETH holder, acquired 27,084 ETH during the previous week. This transaction elevated the company’s aggregate holdings to 5.7 million ETH, representing approximately $9.22 billion in value. The purchase volume represents one of the company’s most modest weekly acquisitions this year.
Simultaneously, BitMine allocated 160,480 ETH to its staking infrastructure. The firm’s staked portfolio now encompasses 4.879 million ETH, producing approximately $211 million in annual staking rewards.
BitMine Chairman Thomas Lee attributed the reduced acquisition pace to end-of-quarter “window dressing” activities. He observed that market participants frequently reduce exposure to underperforming assets during quarterly closings, regardless of positive fundamental developments.
Investment Fund Redemptions Accelerate US spot Ethereum exchange-traded funds registered their seventh straight week of negative net flows. These investment vehicles experienced redemptions totaling $273.3 million over the past week, representing the most substantial weekly decline since January, based on SoSoValue tracking data.
BTC spot ETFs bled $𝟮𝟯𝟭𝗠 in single-day outflows on June 29, while ETH ETFs lost $30M — a combined ~$261M institutional pullback in one session.
𝗛𝘂𝗽𝘇𝘆 𝘁𝗮𝗸𝗲: This is significant structural sell pressure, converging with the $100M+ whale BTC shorts on Hyperliquid… pic.twitter.com/0DwUMBIAuv
— Hupzy (Spot On Chain) (@hupzy_agent) June 30, 2026
BlackRock’s iShares Ethereum Trust experienced the largest redemptions among ETF providers. The trend demonstrates retail and institutional fund investors reducing allocations while certain corporate treasuries maintain their accumulation strategies.
This divergence has generated an atypical market dynamic. Corporate balance sheet strategies continued adding ETH exposure while traditional fund investors redirected capital to alternative investments.
Sharplink, another prominent institutional ETH holder, re-initiated purchases following an eight-month dormant period. Blockchain analytics from Lookonchain documented the company’s acquisition of 39,196 ETH valued at $62.4 million through three separate transactions during the previous week.
Arkham Intelligence data identified the initial purchase batch through FalconX on Thursday. Sharplink executed additional transactions on Friday, complemented by substantial over-the-counter trades throughout the weekend.
As of June 21, Sharplink maintained holdings of 876,285 ETH, establishing its position as the second-largest public corporate ETH holder after BitMine. The company has not publicly addressed the rationale behind resuming its accumulation strategy.
Quarter-End Performance and Derivatives Market Positioning Ethereum has experienced a decline approaching 50% since the beginning of January. This downturn temporarily allowed Tether’s USDt stablecoin to surpass ETH in overall market capitalization during the past week.
Cryptocurrency analyst Max Crypto highlighted in a social media post that ETH approaches the possibility of recording three consecutive quarterly losses for the first time in its history. He characterized this pattern as a structural concern extending beyond temporary price volatility, prompting market observers to monitor whether the asset can prevent a fourth consecutive negative quarter.
ETH IS ABOUT TO MAKE HISTORY.
But it's not something most of us wanted.
For the first time ever, $ETH is set to close 3 consecutive quarters in red.
Even during the brutal bear market of 2018 and 2022, this didn't happen.
What went wrong with Ethereum this cycle? pic.twitter.com/BA79N77KQM
— Max Crypto (@MaxCrypto) June 29, 2026
Derivatives market information from CW indicated that high-leverage short positions on ETH totaled $4.09 billion. Long positions registered $1.31 billion on the identical platform, suggesting that speculative traders anticipate continued downward price movement.
From a technical perspective, ETH trades beneath its 20-day, 50-day, and 100-day Exponential Moving Averages, which range between $1,670 and $2,004. The Relative Strength Index currently registers 35, while the Stochastic indicator stands at 26, both metrics indicating persistent downward momentum with minimal signals of reversal.
Market analyst Daan Crypto Trades remarked on social platform X that Ethereum has been unable to successfully recapture previous support zones. He indicated that a recovery above $1,750 would represent the initial indication of bullish strength on extended timeframes, whereas a breach below the current $1,500 support level, which has provided a floor on two prior occasions, could trigger a decline toward April 2025 price lows.
$ETH Has been failing pretty much every attempt at retaking a previous support or important level.
If we'd see a move back above $1750 at some point, that'd be the first sign of strength on the higher timeframes for me.
Right now sitting at that ~$1.5K support area that has… pic.twitter.com/7cfUEiCQyz
— Daan Crypto Trades (@DaanCrypto) June 29, 2026
Near-term resistance levels for ETH are positioned at $1,626, followed by additional barriers at $1,670 and $1,741. Support zones are established near $1,524, with a secondary support foundation at $1,404.
Ethereum has fallen another 7% this week, extending its monthly losses to nearly 22%, now trading at around $1587. But while the price continues to struggle, Bitmine Chairman Tom Lee believes the recent decline has nothing to do with the ETH Price drop. Here’s why!
Despite this, Bitmine has continued buying Ethereum, bringing its holdings close to controlling 5% of the entire ETH supply.
Tom Lee Blames Quarter-End Selling, Not Ethereum WeaknessIn a recent press release, Tom Lee said that the recent decline in Ethereum price is largely driven by “window dressing,” a quarter-end strategy where fund managers reduce exposure to assets that have performed poorly before the quarter ends.
“This past week was a challenging one for crypto investors as ETH fell by 7%,” explaining that such selling is common as institutional investors rebalance portfolios before quarterly reporting.
Ethereum has dropped nearly 22% over the past month, slightly worse than Bitcoin’s 19% decline.
Despite all, Lee believes the long-term outlook remains positive for the Ethereum price. According to him, Wall Street’s growing shift toward blockchain infrastructure, along with the rise of AI-powered payment systems, continues to strengthen Ethereum’s future.
Bitmine Keeps Buying Despite Ethereum’s FallWhile the Ethereum token price continues to fall, Bitmine is showing no signs of stopping, as they continue to buy more Ethereum.
Last week, the company purchased another 27,084 ETH, increasing its total holdings to 5,700,040 ETH, valued at nearly $9 billion. That now represents roughly 4.7% of Ethereum’s entire circulating supply, putting Bitmine just 0.3% away from its long-term goal of owning 5% of all ETH.
Lee remains confident that Ethereum’s long-term outlook is improving despite the current price weakness.
“We’re in a period where price is lagging fundamentals.” “Ethereum has gained additional assets.”
He pointed to growing real-world asset tokenization on Ethereum, increasing blockchain adoption, and the role Ethereum could play in powering both Wall Street’s digital infrastructure and future AI-based payment systems.
Whale Selling Keeps Pressure on ETHMeanwhile, Crypto analyst Ali Martinez reported that Ethereum whales sold nearly 550,000 ETH, worth around $880 million, over the past week. The heavy selling pushed ETH below the important $1,633 support level.
According to Martinez’s analysis, Ethereum is now testing support around $1,583.
If buyers fail to defend that level, Martinez sees the next major demand zones near $1,237 and $1,089.
Story Ends Here
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According to monitoring by Onchain Lens, the Ethereum Foundation has staked 4,938 ETH (valued at $7.86 million) via Lido, and may stake more.
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The analysis of weekly flows on spot crypto index funds reveals an unprecedented fracture within the sector, challenging the idea of a monolithic institutional block. This data is important, because it shows that professional investors no longer blindly put their money into the two dominant assets, but are beginning to choose growth alternatives.
In brief Bitcoin ETFs record one of the largest waves of capital outflows in their history, driven by massive withdrawals at BlackRock, Fidelity, and Grayscale. Ether funds extend their bad streak with a seventh consecutive week of outflows, revealing a sustained loss of confidence from institutional investors. HYPE and XRP ETFs attract new capital, illustrating a reorientation of flows towards assets considered more promising. This redistribution of investments reflects a sector rotation strategy rather than an institutional withdrawal from the crypto market, a sign of increasingly fine selection of opportunities. The great capital exodus outside Bitcoin funds The institutional financial vehicle segment of the market leader has just experienced a historic decline. For the week of June 22 to 26, 2026, spot Bitcoin ETFs experienced net outflows of 1.79 billion dollars. This massive disengagement represents the third highest week of net outflows in history. Such a liquidation movement shows that “the image of an inexhaustible institutional demand for bitcoin today faces continuous pressure”.
The financial purge peaked with BlackRock, whose IBIT fund lost 1.3 billion dollars. This movement extended systemically to all major facilitators in the U.S. market, with the sale of 314.9 million dollars from Fidelity’s FBTC fund and an outflow of 135.3 million dollars at Grayscale with GBTC.
The data consolidated by statistical tracking platforms confirm that selling pressure was widespread, leaving almost no respite for secondary traditional finance structures :
Managers on the front line : outflows hit Invesco’s BTCO fund for 53 million dollars, Ark & 21Shares’ ARKB for 37.8 million dollars, and Bitwise’s BITB for 34.6 million dollars ; Low-cost structures impacted : even competitive vehicles like VanEck’s HODL and Franklin’s EZBC recorded respective outflows of 6.4 million and 3.1 million dollars ; Derisory compensations : the rare inflows seen on Grayscale’s Bitcoin Mini Trust (+71.7 million $), Morgan Stanley’s MSBT (+26.2 million $), and WisdomTree’s BTCW (+3.4 million $) were not enough to reverse the negative trend set by BlackRock. Ether trapped in a systemic outflow spiral While the Bitcoin product sector plunged into the red, a distinct but equally concerning temporal and structural movement affected spot Ether ETFs. They experienced 273 million dollars of net outflows, extending a streak now lasting seven consecutive weeks of outflows for the category.
Day-to-day flow tracking reveals methodical erosion: Monday started with a decline of 66.38 million dollars on BlackRock’s ETHA, followed by Tuesday at minus 82.35 million dollars despite a rebound of 15.69 million dollars towards Fidelity’s FETH fund. On Wednesday, 30.24 million dollars evaporated with no recorded inflow, before Thursday and Friday sealed this weekly decline with respective outflows of 81.87 million and 12.85 million dollars, both driven by liquidations of the ETHA fund.
This prolonged distrust towards Ether is partly due to a technical repositioning of institutional portfolios that struggle to find a short-term growth catalyst on this asset. The daily arbitrages show mathematical regularity in selling, indicating investors are actively reducing their exposure to the historic smart contract network in favor of other opportunities. Unlike Bitcoin, which still benefits from some residual flows through private banks like Morgan Stanley, Ether suffers from an obvious lack of growth drivers among big brokers and undergoes pressure from continuous redemptions, with no other support than BlackRock’s product.
The unexpected surge of HYPE and XRP Conversely, this disaffection around these two major players did not cause a definitive rout outside the crypto ecosystem, but rather a redeployment of liquidity towards more attractive opportunities. Spot HYPE ETFs have established themselves as the indisputable stars of the market by capturing 111 million dollars of net inflows. Indeed, the scenario behind this performance is particular. After a flat week from Monday to Wednesday and modest gains of 1.46 million on Tuesday and 1.82 million on Friday, order books were flooded on Thursday with a large buying wave of 108.09 million dollars.
At the same time, XRP ETFs showed impressive consistency with 22.99 million dollars of net inflows, marked by an inflow of 5.31 million dollars on Monday via Bitwise, 2.05 million on Wednesday via Grayscale, and a final push on Friday of 15.63 million dollars. Solana, on the other hand, stayed out of this altcoins rally, with a net loss of 1.81 million dollars over the week.
Ultimately, the consolidated weekly balance closes with a decline of more than 2 billion USD for the dominant block. However, one cannot interpret these capital movements as a sign of a global disinterest from institutional investors in the Web3 universe. The market shows a new technical maturity: investors are not leaving crypto ETFs, but they are carrying out deep strategic and sectorial rotations.
This increased selectivity indicates that fund managers are now diversifying their backup portfolios by “rewarding products with clearer momentum and temporarily cutting their exposure where their conviction has weakened”. In the long run, this redistribution of financial flows could well mark the end of the systematic correlation between the bitcoin price and the performance of next-generation altcoins.
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Luc Jose A.
Diplômé de Sciences Po Toulouse et titulaire d'une certification consultant blockchain délivrée par Alyra, j'ai rejoint l'aventure Cointribune en 2019. Convaincu du potentiel de la blockchain pour transformer de nombreux secteurs de l'économie, j'ai pris l'engagement de sensibiliser et d'informer le grand public sur cet écosystème en constante évolution. Mon objectif est de permettre à chacun de mieux comprendre la blockchain et de saisir les opportunités qu'elle offre. Je m'efforce chaque jour de fournir une analyse objective de l'actualité, de décrypter les tendances du marché, de relayer les dernières innovations technologiques et de mettre en perspective les enjeux économiques et sociétaux de cette révolution en marche.
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Ethereum, the second-largest cryptocurrency, has underperformed so terribly that virtually all recent long-term holders are now in the red.
ETH prices have plunged to levels not seen since early 2021 (before the launch of spot ETFs in the US and major network upgrades).
Gains erased Trader and analyst Jesse Olson shed light on the staggering on the staggering data.
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Olson noted that the ETH monthly chart is about to print a lower low as the price firmly closes below key monthly support levels. The leading altcoin is an incredible "8 of the last 10 monthly candles have been red."
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ETH has also recorded several unprecedented bearish signals on top of that. The altcoin has recorded a downward-sloping 200-week SMA for the first time ever. Moreover, there is a double top with a lower high.
The price of the BTC rival has returned to the early 2021 levels despite the launch of exchange-traded funds, the Merge, and a huge bull cycle.
More pressureAccording to blockchain tracking account Onchain Lens, deep-pocketed traders are actively shorting the asset. "A gambler whale '0xa6e' has opened a new 22,000 $ETH short position with 25x leverage, valued at $35M," Onchain Lens reported today.
Ethereum's grim price action is heavily tied to a series of compounding issues.
The much-hyped spot ETFs have now turned into a persistent headwind. The ETFs have recently suffered severe and consistent net outflows. Institutional demand has cooled dramatically.
Ethereum is also suffering from the consequences of its own scaling roadmap. After the Dencun upgrade, Ethereum's base layer (Layer-1) revenue plummeted.
Moreover, the Ethereum Foundation is currently facing major financial issues as well as an ongoing exodus of developers.
However, as reported by U.Today, Fundstart's Tom Lee, who is also the chairman of top ETH Bitmine Technologies, remains optimistic in the long-term, recently warning panic-sellers not to make any hasty decisions.
Torsten Slok, Chief Economist at Apollo Global Management, sees the European Central Bank potentially raising rates again in September. The call comes after the ECB already hiked its deposit facility rate by 25 basis points to 2.25% on June 11, its first increase since September 2023.
Slok isn’t alone in this view. A Reuters poll conducted on June 3 found that 49 out of 80 economists expected an additional ECB rate hike at the September meeting. That’s over 60% of surveyed economists betting on more tightening before year-end.
The end of easy money in Europe The June hike marked a decisive shift toward a more hawkish stance, driven largely by inflationary pressures tied to the ongoing Iran conflict. Energy costs, supply chain disruptions, and geopolitical uncertainty have forced the ECB’s hand in ways that seemed unlikely just months ago.
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The ECB’s next scheduled meetings are July 23 and September 10. If Slok and the majority of polled economists are right, the September meeting could bring the deposit rate to 2.50%.
Slok’s credentials lend weight to the prediction. He’s served as Apollo’s Chief Economist since 2020, following 15 years at Deutsche Bank and earlier stints at the IMF and OECD.
What rising eurozone rates mean for crypto When central banks raise rates, the opportunity cost of holding non-yielding assets goes up. Research on the transmission channels between ECB policy and digital asset prices has identified what economists call portfolio rebalancing effects. Rising long-term rates in the eurozone put downward pressure on Bitcoin and Ethereum as institutional investors shift allocations toward newly attractive fixed-income instruments.
The market reaction to the June hike itself was relatively muted. Traders appeared more focused on US inflation data at the time, treating the ECB move as largely priced in.
Both Bitcoin and Ethereum have historically responded negatively to rising long-term interest rates.
What investors should be watching The July 23 ECB meeting will be the next inflection point. Even if the bank holds rates steady in July, the language in its policy statement and press conference will be dissected for clues about September. Forward guidance could move markets well before the actual September 10 decision.
With over 60% of economists now anticipating another eurozone rate increase, crypto traders should treat ECB meeting dates with the same seriousness they give to FOMC announcements. Traders positioned in Bitcoin and Ethereum should be modeling scenarios for both outcomes, because at 2.25% and potentially climbing, the ECB’s deposit rate is no longer something crypto markets can afford to ignore.
Disclosure: This article was edited by Editorial Team. For more information on how we create and review content, see our Editorial Policy.
Ethereum traded around $1,579.64 on June 30, holding near a support area that has become important for short-term traders.
Summary
Ethereum trades near $1,580 as eight of its last ten monthly candles remain red now. Falling open interest shows traders reduced leverage, but spot ETF outflows still pressure ETH demand. Technical indicators show early stabilization, yet ETH needs $1,700 to $1,800 to confirm strength again. Crypto.news data showed ETH up 0.49% over 24 hours, while the token remained down 6.22% over seven days. Its 24-hour range stood between $1,559.22 and $1,630.03, with trading volume near $11.49 billion.
The move keeps ETH close to the same $1,500 to $1,600 zone that has shaped recent price action. Ethereum recently traded around $1,580 after several days of sideways movement between roughly $1,550 and $1,600. ETF selling and weak market sentiment kept recovery attempts capped near the $1,600 area.
Ethereum remains the second-largest crypto by market value, but the current chart shows a weak long-term setup. Crypto.news data placed ETH’s market cap at about $190.62 billion, while the token remained 68.06% below its Aug. 24, 2025 all-time high of $4,946.05.
Ethereum monthly chart points to weak trend Trader Jesse Olson said Ethereum’s monthly chart was close to printing a lower low because price was closing below monthly support. He also said, “8 of the last 10 monthly candles have been red.” That reading adds to concern that ETH has not yet formed a clean long-term reversal.
$ETH monthly chart is about to print a lower low as price is closing below monthly support.
8 of the last 10 monthly candles have been red.
If you bought Ethereum anytime in the past 5+ years and did not sell to realize a gain, then your purchase is underwater. https://t.co/R0ia3GKnKh pic.twitter.com/1MNxhjAdRB
— Jesse Olson (@JesseOlson) June 30, 2026 Olson also argued that many long-term Ethereum buyers remain underwater unless they already sold to lock in gains. His view reflects the scale of ETH’s drop from its 2025 peak and the failure of several recovery attempts since then.
Daan Crypto Trades also focused on the same weak structure. He said ETH has failed several attempts to reclaim previous support levels and added that a move back above $1,750 would be the first sign of strength on higher time frames.
That level now sits above the current trading range. If ETH cannot hold the $1,500 area, traders are likely to watch the April 2025 lows as the next downside zone. If buyers reclaim $1,700 to $1,800, the market would have a stronger base for recovery.
Ethereum leverage reset lowers crowded risk CryptoQuant analyst Amr Taha said Ethereum derivatives positioning has reset across major exchanges. Binance ETH open interest dropped to about $1.95 billion on June 30, its lowest level since February, while Gate.io open interest fell to a chart low near $1.84 billion.
Ethereum multi exchange open interest, source: CryptoQuant analyst Amr Taha The Gate.io reading sits below the $2.67 billion level seen on April 11, 2025, when ETH traded near $1,570. That means Gate.io leverage is now roughly 31% lower than it was during that earlier market-bottom period, according to the analyst’s data.
Combined open interest on Binance and Gate.io has fallen to about $3.79 billion. Lower open interest means fewer leveraged positions are crowding the market. It can reduce forced selling risk, but it does not create demand by itself.
The reset gives ETH a cleaner derivatives setup than earlier in the year. Still, traders have not yet shown enough spot demand to push the token back above higher resistance. That leaves Ethereum in a fragile zone, with lower leverage but weak trend control.
Spot demand rises as ETF outflows continue CryptoQuant analyst Abdullah Zia said Ethereum spot activity is increasing relative to leveraged trading. He said this can show that whales and longer-term investors are buying ETH through spot markets rather than chasing short-term leverage.
That signal gives bulls one positive data point. It suggests some buyers may be accumulating while derivatives traders step back. A spot-led recovery usually has stronger footing than a leverage-led rally because it is less exposed to liquidation cascades.
At the same time, U.S. spot Ethereum ETFs remain a source of pressure. As reported by crypto.news, spot Ethereum ETFs recorded $273 million in net outflows during the week ending June 26, marking seven straight weeks of withdrawals. BlackRock’s ETHA accounted for $236 million of those outflows.
ETF outflows matter because fund redemptions can force issuers to sell underlying Ether. That selling has repeatedly limited recovery attempts near $1,600. Ethereum ETF outflows also weighed on ETH earlier in June while macro pressure and weak technicals kept the token close to support.
Technical indicators show early stabilization The RSI stood near 35.16, slightly below its moving average near 36.56. That shows weak momentum. The reading is not in deep oversold territory, but it remains well below the neutral 50 level.
MACD showed mild improvement. The histogram was positive near 2.52, while the MACD line near -74.94 sat above the signal line around -77.46. That means bearish momentum has eased, though both lines remain below zero.
Ethereum price chart, source crypto.news These indicators point to early stabilization, not a confirmed recovery. ETH still needs stronger buying volume, a move above $1,700 to $1,800, and RSI above 50 before the trend improves.
As reported by crypto.news, Ethereum’s weak price action contrasts with long-term fundamentals, including high staking participation, corporate treasury holdings and spot ETF assets. The same report noted that ETH remained below key moving averages while its ETH/BTC ratio sat near multi-year lows.
Disclosure: This article does not represent investment advice. The content and materials featured on this page are for educational purposes only.
TL;DR Bitcoin ETFs in the U.S. recorded a $231 million net outflow, extending withdrawals to eight consecutive trading days. Spot Ethereum ETFs also remained under pressure, posting $30.043 million in net outflows on June 29. ARKB and BlackRock’s ETHA led their respective markets in single-day inflows despite the broader selling trend. June is on course to become the worst month for U.S. spot Bitcoin ETFs since their launch, with nearly $4 billion in cumulative outflows. U.S. spot Bitcoin ETFs extended their losing streak on June 29 after recording a combined net outflow of $231 million, while spot Ethereum ETFs posted $30.043 million in net withdrawals, according to SoSoValue data. The latest figures mark the eighth consecutive trading day of net outflows for both crypto investment products.
Despite the broader wave of withdrawals, some funds still attracted fresh capital. Ark Invest and 21Shares’ ARKB registered the largest single-day inflow among Bitcoin ETFs at $49.969 million, while BlackRock’s ETHA led Ethereum ETF inflows with $5.869 million. However, those gains were insufficient to offset heavier redemptions across the broader market.
Bitcoin Spot ETFs See $231 Million Outflow as Ether ETFs Lose $30 Million
According to SoSoValue data, on June 29 (Eastern Time), Bitcoin spot ETFs recorded a total net outflow of USD 231 million, while Ark Invest and 21Shares’ ARKB saw the largest single-day net inflow at USD… pic.twitter.com/aTlpGB9mIM
— Wu Blockchain (@WuBlockchain) June 30, 2026
The latest decline comes as June shapes up to be the weakest month for U.S. spot Bitcoin ETFs since they began trading in January 2024, with cumulative outflows nearing $4 billion.
ARKB and ETHA Defy Broader Ethereum and Bitcoin ETFs Outflow Trend Although investor sentiment remained largely negative, ARKB and ETHA stood out by attracting fresh inflows while many competing funds continued to lose assets. Their positive performance suggests that some investors are still selectively allocating capital to crypto ETFs despite the broader market pullback.
However, the overall trend remains firmly negative. Bitcoin ETFs have now posted eight straight sessions of net redemptions, indicating a more prolonged period of selling than previous pullbacks as the Bitcoin price slips below $60,000. These are often followed by a quick rebound in demand. Ethereum ETFs have followed a similar path, with June largely characterized by persistent outflows after months of mixed fund flows.
According to on-chain data, from June 22 to June 26 (ET), spot Bitcoin ETFs recorded net outflows of $1.79 billion. Spot Ethereum ETFs saw net outflows of $273 million, marking seven consecutive weeks of outflows as institutional interest dwindles.
Spot Bitcoin ETFs Saw $1.79B in Net Outflows Last Week, Third-Highest Weekly Outflow on Record
From June 22 to June 26 (ET), spot Bitcoin ETFs recorded net outflows of $1.79 billion, marking the third-highest weekly net outflow on record. Spot Ethereum ETFs saw net outflows of… pic.twitter.com/6CDFFVY68L
— Wu Blockchain (@WuBlockchain) June 29, 2026
Spot XRP ETFs recorded net inflows of $22.99 million, while spot HYPE ETFs saw net inflows of $111 million.
Macro Uncertainty Continues to Pressure Crypto ETFs Market observers attribute the sustained withdrawals largely to the current macroeconomic environment. Elevated interest rates have boosted the appeal of lower-risk assets such as government bonds and money market funds, prompting some institutional investors to scale back exposure to more volatile assets like Bitcoin and Ethereum.
Investors are now closely watching upcoming economic data and any changes in U.S. Federal Reserve policy expectations, as shifts in the interest-rate outlook could influence capital flows into risk assets. Market participants will also be monitoring whether the current outflow streak finally comes to an end, as a return to sustained inflows could signal renewed confidence in the crypto ETF market.
According to SoSoValue data, total net assets held by U.S. spot Bitcoin ETFs stood at approximately $73.19 billion following the latest trading session, highlighting that despite recent selling pressure, the products remain a major channel for institutional cryptocurrency investment.
Leading cryptocurrencies pared losses Monday, while stocks closed higher as investors priced in a further easing of tensions between the U.S. and Iran following weekend hostilities.
Crypto Market Recoups LossesBitcoin rose in the early trading hours, but failed to cross the $61,000 barrier. Trading volume surged 82% over the last 24 hours. Ethereum rallied in the afternoon, hitting a high of $1,633 intraday before slipping back below $1,600.
Over $300 million was liquidated from the cryptocurrency market in the last 24 hours, with short traders facing the majority of the losses, according to Coinglass data
Bitcoin’s open interest increased modestly by 0.80% over the last 24 hours. Interestingly, retail and whale derivatives traders on Binance lowered their long positions in the leading cryptocurrency.
"Extreme Fear" sentiment prevailed in the market, according to the Crypto Fear & Greed Index.
Top Gainers (24 Hours)
The global cryptocurrency market capitalization stood at $2.2 trillion, following a dip of 0.79% over the last 24 hours.
Stocks Rally Ahead Of Doha MeetingStocks started the new trading week on a high. The Dow Jones Industrial Average rallied 306.63 points, or 0.59%, ending at 52,182.74. The S&P 500 lifted 1.18% to close at 7,440.43, while the tech-heavy Nasdaq Composite rose 2.07% to settle at 25,820.14.
President Donald Trump said that a meeting with Iran is scheduled for Tuesday in Doha, Qatar. The discussions are reportedly aimed at managing the Strait of Hormuz and reducing tensions after weekend exchanges of attacks between the two sides.
Where Is Bitcoin Headed?On-chain analytics firm CryptoQuant noted that Bitcoin’s Long Term Holder Spent Output Profit Ratio was approaching 1—a historically rare condition that has marked “generational buying opportunities.”
The metric is used to determine whether investors who have held their Bitcoin for more than 155 days are selling at an aggregate profit or loss. The current reading indicates long-term holders are moving coins at or near a loss.
Michaël van de Poppe, a widely followed cryptocurrency analyst and trader, said that Bitcoin has started the week well, forecasting a “very likely” breakout above $61,000.
“The bullish divergences are still applicable here, indicating that there’s the upside ready to come,” Van De Poppe said.
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Loopring, one of the earliest projects to bring zero-knowledge rollup technology to Ethereum, has announced the immediate closure of its decentralized exchange and automated market maker (AMM). The decision, shared publicly on June 28, 2026, ends all crypto trading activity on the platform and takes the supporting relayer offline without delay.
The project originated in 2017 from a vision focused on using zero-knowledge proofs to dramatically improve Ethereum’s scalability and reduce costs for trading and payments.
It became the first zkRollup deployed on Ethereum mainnet around 2019–2020 and once supported significant activity.
However, usage has declined sharply in recent years.
According to on-chain data trackers, Loopring’s total value locked fell to roughly $8 million, representing a drop of nearly 99% from its peak above $760 million in late 2021.
In their statement, the team explained that Loopring never achieved broad adoption.
The original design lacked a full virtual machine, which prevented easy composability with other Ethereum applications and limited real-world uses such as seamless payments.
https://t.co/beXdvEBGru
— Loopring💙 (@loopringorg) June 28, 2026
The core contributors described themselves primarily as engineers rather than business developers, noting they struggled to build the partnerships and marketing needed for wider growth.
Additional pressures, including the delisting of the project’s native LRC token from major centralized exchanges in 2026, hastened the outcome.
Newer zkEVM-based rollups, which offer full compatibility with Ethereum smart contracts, have also rendered Loopring’s specialized architecture increasingly outdated.
Rather than continue operating a service with minimal activity, the team chose to conclude operations in an orderly manner.
This marks the latest step in a gradual wind-down. Loopring had already discontinued its smart wallet services in mid-2025.
User funds held on the Loopring Layer 2 remain secure, the team confirmed.
To simplify the process, the project will handle asset distribution directly instead of requiring users to perform self-custody exits via Merkle proofs.
In the coming days, a complete list of final balances—including spot holdings in ETH and ERC-20 tokens plus liquidity positions that will be automatically converted—will be published and linked from the project’s X account.
Users will have a two-week review window to check their figures and report any discrepancies.
After the review period, the team will upgrade the relevant smart contract to enable batch withdrawals controlled by whitelisted addresses.
Funds valued at $10 or more will then be sent in batches directly to users’ Ethereum Layer 1 wallets.
The crypto focused project will cover all gas fees associated with these transfers. Balances below the $10 threshold will be excluded to keep the process manageable.
The entire distribution is expected to wrap up within a few weeks once it begins.
Support inquiries can be directed to [email protected] once the balance list appears.
The closure underscores the intense competition in Ethereum’s Layer 2 landscape, where projects offering greater flexibility and developer tooling have gained stronger traction. Loopring expressed gratitude to its users and hope that the zero-knowledge advancements it helped enable during the early days will now continue to benefit the crypto ecosystem through other initiatives.
Circle just pulled a quarter-billion dollars worth of USDC off Ethereum and stamped out $910 million in fresh tokens on Solana. Think of it as moving cash between registers at a store, except the registers are blockchains and the cash is the second-largest stablecoin in crypto.
The net effect: a $660 million liquidity swing toward Solana.
How the burn-and-mint machine works Circle manages USDC supply through what it calls the Cross-Chain Transfer Protocol, or CCTP. The mechanics are straightforward: burn tokens on one chain, mint an equivalent amount on another. Every USDC in circulation is supposed to be backed 1:1 by cash and cash equivalents, so these operations don’t change the total supply. They just change where the tokens live.
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The $250 million Ethereum burn and $910 million Solana issuance fit a pattern that’s been accelerating throughout 2026. Earlier in June, Circle minted $1 billion USDC on Solana in a single day. Days before that, there was a $500 million Solana mint. The cumulative gross issuance on Solana has been approaching $57 billion for the year.
USDC’s total circulation sits at approximately $73.6 billion as of late June 2026. The stablecoin is now native on over 30 networks.
Why the migration matters The institutional angle has gotten more concrete this month. Circle expanded its partnership with BNY Mellon in June 2026, enabling direct mint and burn capabilities through the bank’s custody services. That means institutional clients can now create and destroy USDC without going through Circle’s standard pipeline.
What this means for investors For Solana, more USDC on the network means deeper liquidity pools, tighter spreads on decentralized exchanges, and more attractive conditions for both traders and protocol developers.
The BNY Mellon partnership adds another layer to consider. Institutional access to direct minting and burning means that large players can respond to market conditions faster than ever.
Tether’s USDT still dominates overall stablecoin market share, but USDC’s multi-chain expansion and emphasis on full reserve transparency have carved out a distinct institutional niche. The $73.6 billion in circulation represents significant ground gained.
The risk worth flagging: concentrated minting on any single chain creates dependency. If Solana experienced a significant outage or security event, having tens of billions of USDC sitting on the network would create redemption pressure that could test Circle’s operational capacity.
Disclosure: This article was edited by Editorial Team. For more information on how we create and review content, see our Editorial Policy.
Key Takeaways Bitcoin’s limited supply of 21 million coins and expanding institutional adoption make it the most stable long-term cryptocurrency investment. Ethereum maintains dominance in smart contract platforms, hosting the largest DeFi ecosystem and billions in stablecoin volume. Solana’s high-speed transactions and minimal fees have driven significant growth in stablecoin usage and decentralized applications. Chainlink serves as critical blockchain infrastructure, enabling smart contracts to access external data through its oracle network. Sui represents a high-potential mid-cap opportunity with advanced technology and expanding ecosystem adoption. Investors seeking sustainable cryptocurrency positions are being advised to prioritize fundamental strength over market volatility. A comprehensive analysis identifies five digital assets demonstrating robust adoption metrics, active development communities, and significant institutional backing.
Bitcoin (BTC) Bitcoin secures the top position as the premier long-term cryptocurrency investment. As the pioneering digital asset, its supply is permanently limited to 21 million units.
Bitcoin (BTC) Price The introduction of spot Bitcoin exchange-traded funds alongside increasing corporate treasury allocations has accelerated institutional participation significantly. Analysts characterize Bitcoin as delivering the most favorable risk-adjusted returns within the digital asset sector.
Ethereum (ETH) Ethereum serves as the backbone infrastructure for a substantial portion of the cryptocurrency marketplace. The platform hosts thousands of decentralized applications and commands the industry’s most extensive decentralized finance infrastructure.
Ethereum (ETH) Price Multi-billion dollar stablecoin operations execute primarily on Ethereum’s network. The platform is increasingly central to the tokenization of traditional financial assets.
While facing competition from emerging blockchain platforms, Ethereum consistently attracts developer talent at an unmatched rate. This sustained development activity represents a primary factor supporting its position as a compelling long-term asset.
Solana (SOL) Solana distinguishes itself through exceptional processing speeds and minimal transaction costs. These technical advantages have enabled the network to capture market share across DeFi protocols, non-fungible tokens, payment systems, and consumer-facing applications.
The blockchain has recorded substantial increases in both stablecoin transaction volume and decentralized exchange activity. Institutional capital allocation toward Solana has similarly accelerated, according to market data.
Chainlink (LINK) Chainlink operates within a distinct category compared to traditional blockchain platforms. Rather than processing transactions directly, it delivers essential infrastructure enabling smart contracts to interact with external information sources.
Its decentralized oracle network is considered fundamental to DeFi operations. The Cross-Chain Interoperability Protocol has gained particular traction among institutions exploring tokenized asset applications.
Sui Sui emerges as a compelling growth-oriented selection within the mid-capitalization segment. Built using the Move programming language, the platform prioritizes transaction throughput and network scalability.
The ecosystem has demonstrated expansion across gaming platforms, DeFi protocols, and mainstream consumer applications. While analysts acknowledge higher volatility compared to established cryptocurrencies, Sui presents substantial upside potential contingent on continued adoption.
Constructing a Balanced Crypto Portfolio The analysis proposes a strategic allocation framework for investors pursuing long-term positioning. The suggested distribution designates 35 percent to Bitcoin, 25 percent to Ethereum, 20 percent to Solana, 10 percent to Chainlink, and 10 percent to Sui.
This allocation strategy seeks to balance the stability characteristics of established cryptocurrencies with the expansion potential of emerging platforms. The framework acknowledges that no individual asset guarantees positive returns.
Each selected cryptocurrency addresses a distinct market function. Bitcoin provides store-of-value stability, Ethereum delivers smart contract infrastructure dominance, and Solana offers exposure to high-performance blockchain technology.
Chainlink furnishes the data connectivity layer between blockchain networks and external information sources. Sui provides access to an emerging high-performance network with accelerating growth metrics.
The analysis concludes by emphasizing that cryptocurrency investments inherently involve substantial risk and price fluctuation. Concentrating on assets demonstrating strong fundamental characteristics and tangible real-world applications may enhance long-term portfolio performance.
Bitcoin, Ethereum, Solana, Chainlink, and Sui represent the core components of this fundamentals-focused investment strategy for July 2026.
Kiyosaki Says The Pin Is Near For The Biggest Bubble In HistoryKiyosaki posted his boldest price targets yet, predicting gold hits $35,000 an ounce and silver reaches $200 an ounce within a year of the bubble popping.
He paired those calls with $750,000 for Bitcoin and $95,000 for Ethereum, framing all four assets as the winners once the current financial system breaks.
“I do not know what pin, what event will pop the biggest bubbles in history,” Kiyosaki wrote. “It’s not IF. It’s WHEN.”
His targets mark a sharp jump from the $250,000 Bitcoin and $60,000 Ethereum figures he gave back in November, when the ETH number itself sparked confusion since the asset hadn’t traded anywhere near that level.
Cowen Says Bitcoin Closing Below The 200-Week Average Isn’t NewProminent analyst Benjamin Cowen pointed out that Bitcoin’s first weekly close below its 200-week moving average this cycle mirrors exactly what happened in June 2022, the last time Bitcoin broke that same level.
He noted Bitcoin tends to drop into June in multiple cycles, including 2018 and 2022, and that the pattern rarely needs to be more complicated than it looks.
Cowen’s base case calls for Bitcoin to form an early summer low, followed by a counter-trend rally into mid-to-late summer, before a final drop into the actual cycle bottom sometime in the third or fourth quarter.
He said this play would only change if a major blowup, similar to FTX or Luna in the last cycle, triggers a faster price-based capitulation instead of the slower time-based pattern.
Cowen’s preferred strategy is dollar-cost averaging into Bitcoin through the second half of midterm years, a method he said has worked across prior cycles even when short-term drawdowns got worse before recovering.
He’s watching for a volume spike similar to those seen at the end of the 2014, 2018, and 2022 bear markets as the real signal that capitulation has actually happened.
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TL;DR Institutional products tied to Bitcoin and Ethereum reportedly saw net outflows. XRP and HYPE wrappers attracted inflows during the same period. The divergence points to a more selective crypto market, where investors are not treating every asset the same way. Institutions Are Not Just Buying Or Selling Crypto As One Trade Institutional investors reportedly reduced exposure to Bitcoin and Ethereum ETF products while still adding to XRP and HYPE-linked wrappers.
That is a more interesting story than a simple “institutions dumped crypto” headline. The flow picture suggests that investors are becoming selective. They may be cutting broad exposure to the two largest crypto assets while still looking for targeted opportunities elsewhere.
For Bitcoin and Ethereum, outflows are never a great signal in the short term. These products are major access points for traditional capital, and sustained redemptions can weigh on sentiment. But the fact that XRP and HYPE products saw inflows at the same time shows that the entire sector is not being abandoned.
Why Selective Flows Matter Crypto traders often talk about risk-on and risk-off as if the whole market moves together. That is still true during major volatility events, but flow data can reveal a more detailed picture underneath.
If investors are selling BTC and ETH exposure but buying XRP and HYPE, they may be rotating away from broad market beta and toward specific narratives. XRP has its payments and legal-resolution storyline. HYPE has become tied to the Hyperliquid ecosystem and more specialized on-chain trading demand.
That kind of split matters because it changes how traders should think about the market. The question is not just “are institutions bullish on crypto?” It becomes “which crypto exposures are institutions willing to hold during stress?”
That is a much more useful question. It also means Bitcoin dominance, Ethereum sentiment, and altcoin flows may give different signals at the same time.
The Risk In Reading Too Much Into It There is a caveat. Smaller products can show impressive inflows without matching the absolute scale of Bitcoin or Ethereum ETF flows. A modest inflow into an altcoin wrapper does not cancel out much larger outflows from BTC or ETH products.
So the takeaway should be measured. This is not proof that institutions are rotating into altcoins en masse. It is evidence that some targeted altcoin demand has remained active while broad crypto exposure has weakened.
For Bitcoin and Ethereum, the next test is whether outflows slow. For XRP and HYPE, the test is whether inflows continue once the market stabilizes or if they were simply temporary pockets of interest.
The market message is still useful: institutional crypto demand is no longer one-dimensional. Investors are not just buying the whole sector or selling the whole sector. They are separating assets, narratives, and wrappers — and that makes flow data more important than ever.
For readers, the useful approach is to treat this as a signal to monitor rather than a standalone trading call, because confirmation still has to come from follow-through in price, flows, and broader market behavior.
—
This article was written by the News Desk and edited by Samuel Rae.
Making ETH inevitable and scaling Ethereum to the world. Ethlabs's co-founders sat down with Bankless to unpack the new org's mission.
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When I wrote about Ethlabs last week, my piece talked about the what. Namely the basics of the new organization, and how it's a new independent R&D lab co-founded by former Ethereum Foundation luminaries like Ansgar Dietrichs and Caspar Schwarz-Schilling.
That said, both Ansgar and Caspar just came on the podcast to cover the why of the org and their thinking around it. It's one of the best conversations about Ethereum's direction I've heard in a while.
— Bankless (@Bankless) June 29, 2026 The core thesis, as Ansgar laid it out early in the convo, is that Ethereum is at an evolutionary crossroads. The network's first 10 years were about infra, bringing assets onchain, figuring out how DeFi protocols should work, and etc. All of that is done, more or less, as we now have the fundamental rails.
Now the question is whether Ethereum will become a central node that the global economy routes through, or whether we end up in a fragmented multichain world. Ansgar said it will be one or the other, and it's not inevitable which way will win.
Tackling this crux head-on is the strategic case for Ethlabs's existence. The EF, per its new mandate, is doubling down on CROPS, i.e. censorship resistance, open source, privacy, and security, the foundational properties that give Ethereum credible neutrality. Ethlabs exists to complement that vision, not compete with it. In Caspar's framing the EF maintains what makes Ethereum Ethereum, and Ethlabs will work to scale that to the world.
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The work streamsIn the episode, Ansgar sketched out Ethlabs's focus areas across three buckets:
Chain — Anything core protocol, including a push for L1 scaling that Ansgar has been pushing on for a while now. The upcoming Amsterdam hardfork, per the convo, should deliver something like ~4x throughput gains, and Ansgar's broader north star is a permanent 3x-per-year scaling trajectory for Ethereum going forward.Platform — Here will come the work that stems from the intersection between the chain and apps. This is where interoperability lives, and both Ansgar and Caspar were emphatic that Ethereum cannot be the central settlement node of the global economy if the UX of moving assets across L2s remains as fragmented as it is today. The superpower of a "United Chains of Ethereum," as Ansgar put it, only materializes if being in that bundle is an obvious no-brainer for any chain launching today. Right now, it isn't.Growth — The newest and most explicitly market-facing area of Ethlabs, this area of effort will focus on understanding what DeFi builders, Wall Street, and other finance-adjacent builders actually need from Ethereum, and then propagating those needs back upstream into research and EIPs.On ETH the assetOne of the more interesting threads in the episode was the discussion around ETH specifically, an area where the EF has historically been reticent.
As Ansgar argued, Ethereum and ETH can only win together, which means every protocol development decision needs to account for its effect on ETH's role and value accrual. He draws the Bitcoin comparison deliberately: Bitcoin's success is partly a matter of inevitability, as there's an aura around it that it will simply be there. That's what Ethereum, and ETH, need to build.
On the funding and longevity side, Caspar was candid that the org's accountability structure is quite intentional. Ethlabs has solid two-to-three-year runway and a starting team of five, with ambitious but lean hiring plans. Their plan for continued funding is to deliver impactful work, then come back to the community in a year and ask if their track record justifies further support.
Ansgar noted this accountability loop was a deliberate hedge against the classic nonprofit failure mode of drifting toward irrelevance without any real-world forcing function.
Alas, can Ethlabs pull off their plans and make a difference? We'll see, though it does seem clear to me that this group of Ethereum diehards is uniquely suited for the work they've set out for themselves. They're poised to have a big impact, and that's something everyone in Ethereum can root for. For now, catch up on all their thinking in our latest episode, out now for everyone!
Ethlabs: The New Org to Make Ethereum Win | Ansgar & Caspar on Bankless
Ethereum has a new R&D lab, and its mission is blunt: make Ethereum and ETH win.
Bitcoin is caught between a resistance zone and building liquidity above, while Ethereum mirrors a familiar February structure and XRP shows early signs of seller exhaustion.
Bitcoin: $60.5K to $61K Is the Wall
On the three-day chart, Bitcoin is holding above $60,000 without a confirmed candle close below. If that level breaks with confirmation and fails to be reclaimed, the next meaningful support sits at $54,000 to $55,000.
A bullish divergence is visible across the 12-hour, eight-hour, and daily timeframes, with lower price lows and higher RSI lows. That signal helped produce a short-term relief from recent extreme selling pressure. However, that relief has stalled directly at the $60,500 to $61,000 resistance zone, where previous support has flipped into resistance.
The liquidation heatmap shows significant liquidity clustered above at $62,000 and between $63,200 and $63,500, making a push toward $62,000 plausible once resistance clears. A smaller but growing liquidity pocket is also building below at $58,000, which becomes a target if stocks open weakly on Monday.
The weekly timeframe shows a large bullish divergence forming but not yet confirmed. The super trend indicator remains red.
Ethereum: Repeating February’s Pattern
Ethereum is holding the $1,500 to $1,600 support zone on the three-day chart. The daily chart closely mirrors the February structure, with horizontal lows, an oversold first low, and a higher RSI low suggesting early momentum recovery.
If the pattern continues to echo February, choppy sideways action or a modest relief rally could follow over the coming days. However, if stocks drag Bitcoin back toward $58,000 on Monday, Ethereum is unlikely to sustain any recovery regardless of its own setup.
XRP: Sellers Losing Steam, Not the Battle
XRP’s weekly trend remains technically bearish with no confirmed bottom. Support sits between $0.90 and $1.00, with the recent bounce from almost exactly $1.00. Resistance sits at $1.13.
The past two days have produced extremely small candle bodies, a classic outcome of a bullish divergence. Sellers are losing momentum rather than buyers taking control. Flat price action is the most likely outcome ahead of Monday’s stock market open.
What to Watch
Monday’s US market open is the single most important near-term catalyst. A stable open gives Bitcoin room to target the $62,000 liquidity zone. A weak open risks a move back to $58,000 and invalidates the short-term recovery signals across all three assets.
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Ethereum has fallen harder than Bitcoin, down nearly 70% from its high while the ETH/BTC ratio sits near multi-year lows. Will Ether keep lagging the market leader through 2026, or is the underperformance setting up a reversal? Here is the case on both sides, and what would flip it.
Summary
Ethereum trades near $1,550 as of late June 2026, down roughly 68% from its August 2025 all-time high near $4,950 and below every major moving average, the weakest technical picture among the large-cap majors. The ETH/BTC ratio sits near multi-year lows because Ether has fallen harder than Bitcoin’s roughly 52% drawdown, extending a multi-year stretch of underperformance against the market leader. The case for continued underperformance rests on Bitcoin’s ETF and treasury-driven institutional dominance, competition from Solana for on-chain activity, and a muddier investment narrative for Ether. The case for a reversal rests on deep-value pricing, staking yield, the Layer-2 and tokenization ecosystem, potential rotation of ETF flows, and the tendency of Ether to outperform in late-cycle altcoin phases. Year-end forecasts span roughly $1,266 at the bearish end to $4,400 to $5,300 at the bullish end, a gap that turns on whether capital rotates back toward Ether or stays concentrated in Bitcoin. Ethereum (ETH) is trading near $1,550 as of late June 2026, and it has fallen harder than almost any other large-cap crypto asset, which raises the question this article addresses: will Ether keep underperforming Bitcoin through the rest of 2026, or is the very depth of its decline setting up a reversal?
The numbers frame the problem starkly. Ether is down roughly 68% from its August 2025 all-time high near $4,950, a far deeper drawdown than Bitcoin’s roughly 52% fall from its own peak, and it trades below every major moving average, from the 20-day exponential average on up through the 200-day near $2,317, with a completed death cross and a relative strength index near 30.
Ethereum daily price chart — June 29 | Source: crypto.news The Fear and Greed reading sits around 13, even deeper in extreme fear than Bitcoin’s, and the $1,500 to $1,600 zone has become the line in the sand that bulls are defending; a clean loss of it opens $1,450 and then $1,400. Most tellingly for this question, the ratio of Ether’s price to Bitcoin’s sits near multi-year lows, the clearest single expression of how badly Ether has lagged the asset the market treats as its anchor.
That ratio, ETH measured against BTC, is the real subject of this piece, because the question is not only where Ether’s dollar price goes but whether it keeps losing ground to Bitcoin specifically. This article works through it from both directions: where Ethereum stands technically, what the ETH/BTC ratio actually measures and why it matters, the structural reasons Ether has underperformed, the case that the underperformance continues, the case that it reverses, what the analysts forecast, the specific conditions that would flip the ratio one way or the other, and three scenarios for both the ratio and the absolute price into year-end. The aim is to give a fair hearing to both sides, because this is a genuinely contested question on which thoughtful people disagree.
The forecasts here are information, not advice. And the framing to carry throughout is that Ether’s 2026 outcome has 2 layers: its dollar price, which depends heavily on the broad market, and its performance relative to Bitcoin, which depends on whether capital rotates back toward Ether or stays concentrated in the market leader. Both layers point to the same underlying question of whether Ethereum can reclaim the narrative momentum it has lost.
Where Ethereum stands right now The technical condition of Ethereum is the weakest among the large-cap majors, and being honest about that is the starting point. Near $1,550, Ether trades below its 20-day, 50-day, 100-day, and 200-day exponential moving averages, the last of which sits up near $2,317, meaning price is far beneath even its slowest-moving trend line. A death cross, the bearish crossover of shorter and longer averages, has completed, confirming the downtrend on the technical framework many traders use.
The relative strength index near 30 indicates oversold conditions and weak buying momentum, and the broader structure since the spring has been one of lower highs and lower lows, with sellers in control through a steep decline from the $2,000-plus range earlier in the year down to the current zone. The $1,500 to $1,600 area is the critical support, having acted as the 2026 floor, and below it the next levels are $1,450 and $1,400.
Sentiment is correspondingly grim. The Fear and Greed reading around 13 is a deeper extreme fear than Bitcoin’s, reflecting how thoroughly the market has soured on Ether specifically. The drawdown of roughly 68% from the August 2025 high near $4,950 is severe even by crypto standards and significantly worse than Bitcoin’s contemporaneous decline, which is the heart of the underperformance story. To improve the picture,
Ether needs, at minimum, to reclaim short-term resistance near $1,700 to $1,750, and a genuine trend change would require recovering the higher averages up toward $2,000 and then $2,317. Until then, the structure is bearish, and the burden of proof sits with buyers.
This is the uncomfortable backdrop against which the underperformance question must be answered: Ether is not merely down; it is down harder than Bitcoin, deeper in fear, and weaker on the charts, which is exactly why some see capitulation and opportunity while others see a structurally lagging asset with further to fall.
What the ETH/BTC ratio is telling us To analyze underperformance properly, you have to understand the ETH/BTC ratio, because it strips out the broad market and isolates the question of Ether versus Bitcoin specifically. The ratio simply expresses Ether’s price in terms of Bitcoin rather than dollars, and it rises when Ether outperforms Bitcoin and falls when Ether lags. Right now it sits near multi-year lows, which is the precise, quantified statement of the problem: over an extended period, and especially through the 2025 to 2026 drawdown, Ether has lost value against Bitcoin, not just against the dollar. When both assets fall, but one falls more, the ratio captures the difference, and Ether’s roughly 68% drawdown against Bitcoin’s roughly 52% means Ether has shed a meaningful chunk of its value relative to the market leader.
Why does this matter beyond bookkeeping? The ETH/BTC ratio is one of the most-watched gauges in crypto because it functions as a barometer of risk appetite and capital rotation within the asset class. When the ratio rises, it typically signals that capital is rotating out of Bitcoin and into Ether and the broader altcoin complex, the classic risk-on, altcoin-season dynamic. When it falls, as now, it signals that capital is concentrating in Bitcoin, treating it as the safer, more institutionally endorsed crypto asset while shunning the higher-beta alternatives.
A ratio near multi-year lows therefore tells a story: the market, in its current risk-off and Bitcoin-dominated mood, has been choosing Bitcoin over Ether decisively. For the question of whether Ether underperforms again in 2026, the ratio is both the scoreboard and the leading indicator.
A continued decline or stagnation in the ratio means underperformance persists; a sustained turn upward would be the clearest sign that Ether is regaining ground. Everything that follows, the structural arguments and the catalysts, ultimately expresses itself through which way this ratio moves.
Why Ethereum has underperformed Understanding the causes of Ether’s underperformance is essential to judging whether it continues, and several structural forces have converged against it. The 1st and arguably most important is the institutional bid for Bitcoin that Ether has not matched in kind.
Spot Bitcoin ETFs and a wave of corporate Bitcoin treasuries have created sustained, price-insensitive demand that treats Bitcoin as digital gold and a primary reserve asset, a role with no clear Ether equivalent. While Ether has its own ETFs, the institutional narrative around Bitcoin as a macro reserve asset has been far more powerful, channeling the bulk of institutional crypto allocation toward Bitcoin and leaving Ether to compete for a smaller, more speculative pool of capital. In a risk-off market, that distinction is decisive: capital flows to the asset with the strongest institutional endorsement, which has been Bitcoin.
The 2nd force is competition for Ethereum’s core use case. Solana and other high-throughput chains have captured a large share of the on-chain activity, particularly the memecoin and high-frequency trading culture, that once would have flowed to Ethereum, challenging Ether’s status as the default smart-contract platform and muddying its growth narrative.
The 3rd is a narrative problem of Ether’s own. Following its technical upgrades, the relationship between network activity and value accrual to the token has become more complicated, with much activity migrating to Layer-2 networks whose fees do not always translate cleanly into demand for Ether, leaving the investment case harder to articulate than Bitcoin’s simple scarcity story.
Together, these forces- Bitcoin’s institutional dominance, Solana’s competitive pressure, and a muddier value-accrual narrative- explain why capital has favored Bitcoin and why the ETH/BTC ratio has fallen to multi-year lows. They are real and structural, not merely cyclical, which is what gives the continued-underperformance thesis its force.
The case that the underperformance continues The bearish-on-ratio case holds that the forces just described are durable and that Ether keeps lagging Bitcoin through 2026. Its strongest pillar is that the institutional preference for Bitcoin is structural rather than temporary. As long as the dominant institutional narrative casts Bitcoin as the crypto reserve asset and digital gold, with ETFs and treasuries channeling allocation toward it, Ether will struggle to attract a comparable bid, and in any risk-off phase capital will continue concentrating in Bitcoin.
This is not a sentiment that flips quickly; it reflects how large allocators have categorized the two assets, and that categorization has only deepened through the current drawdown. On this view, the ETH/BTC ratio at multi-year lows is not an anomaly poised to mean-revert but the accurate reflection of a lasting shift in how the market values the two.
The competitive and narrative pillars reinforce the case. If Solana and other chains continue to capture on-chain activity and developer attention, Ethereum’s growth story weakens further, and a weakening fundamental narrative makes it harder for Ether to outperform regardless of price level. The muddled value-accrual picture, with activity on Layer-2 networks not cleanly driving Ether demand, means that even genuine ecosystem growth may not translate into the token appreciation that would lift the ratio. Bears also note that Ether’s deeper drawdown is itself a warning: an asset that falls harder than the market leader in a downturn is displaying higher beta and weaker relative strength, traits that tend to persist until a clear catalyst changes them.
In this reading, the most likely path for 2026 is that Ether’s dollar price may rise or fall with the broad market, but it continues to underperform Bitcoin specifically, with the ratio grinding sideways to lower, because none of the structural forces working against it have meaningfully reversed. The underperformance, on this thesis, is a feature of the current market regime, not a temporary dislocation.
The case for a reversal The bullish-on-ratio case is equally serious and rests on the proposition that Ether’s underperformance has gone far enough to create the conditions for its own reversal. The 1st pillar is deep value. After a 68% drawdown that has driven Ether to multi-year lows against Bitcoin and into extreme fear, the bull argument is that the selling has been overdone, that much of the bad news, the competition, the narrative confusion, the risk-off flight to Bitcoin, is now priced in, and that assets this oversold relative to the leader have historically offered strong mean-reversion potential when sentiment turns.
The 2nd pillar is Ether’s genuine fundamental base, which remains the deepest in the smart-contract world: it anchors the largest decentralized finance ecosystem, hosts the bulk of tokenized real-world asset activity, supports a sprawling Layer-2 network of scaling solutions, and offers a staking yield that gives holders a return Bitcoin does not. These are real assets that a reversal thesis can build on.
The 3rd pillar is the potential for capital rotation, which is how ratio reversals historically happen. In past cycles, after Bitcoin leads a move and its dominance peaks, capital has frequently rotated into Ether and the broader altcoin complex in a late-cycle altcoin season that drives the ETH/BTC ratio sharply higher, and bulls argue the current extreme in Bitcoin dominance and Ether weakness is exactly the kind of setup that precedes such a rotation.
Specific catalysts could trigger it: ETF flows rotating from Bitcoin toward Ether, particularly if Ether ETF staking features attract yield-seeking institutional capital; a stumble in Solana’s momentum that returns activity and attention to Ethereum; a broad macro shift to risk-on that lifts the higher-beta assets most; and the growth of tokenization and institutional finance building on Ethereum translating into clearer token demand.
On this view, the very severity of Ether’s underperformance, the multi-year-low ratio and the extreme fear, is the contrarian signal, and 2026 could be the year the ratio turns as capital rotates back toward a deeply discounted asset with the strongest fundamental ecosystem in its category. The reversal is not guaranteed, but it is a coherent thesis grounded in real catalysts and historical precedent.
What the analysts forecast The analyst forecasts for Ether’s dollar price in 2026 span a wide range that maps onto the underperformance debate. On the bearish side, model-driven and cautious forecasters see continued weakness: Traders Union’s statistical model projects a year-end average near $1,266, and DigitalCoinPrice has pointed to a 4th-quarter low around $1,370, both implying Ether stays near or below current levels and, by extension, likely keeps underperforming a Bitcoin that most forecasters see holding higher absolute levels. These bearish targets are consistent with the thesis that the structural forces against Ether persist and that the ratio does not recover.
On the bullish side, forecasters such as BitScreener have projected Ether reaching toward $4,676 by year-end, and others, including Cryptopolitan and the optimistic scenarios at LiteFinance, point to ranges of roughly $4,400 to $5,300, which would imply a powerful recovery and, if Bitcoin does not rise proportionally, a sharp improvement in the ETH/BTC ratio.
The gap between roughly $1,266 and $5,300 for the same asset in the same year is enormous, and like Bitcoin and XRP, it reflects genuine uncertainty rather than careless modeling. The bearish numbers assume the structural underperformance continues and Ether stays pinned near its lows; the bullish numbers assume a reversal driven by rotation, deep-value mean reversion, and Ether’s fundamental strengths reasserting themselves.
What the forecasts collectively reveal is that Ether’s 2026 outcome is even more binary than Bitcoin’s, because it depends not only on the direction of the broad market but on whether capital rotates back toward Ether specifically. An investor who believes the rotation comes will lean toward the high forecasts; one who believes Bitcoin’s dominance is structural will lean toward the low ones.
The forecasts cannot settle the debate; they can only show how much rides on it. For the underperformance question specifically, the spread is a reminder that Ether is the higher-variance bet, capable of both deeper losses and sharper recoveries than the market leader, which is precisely the profile of an asset whose relative performance is genuinely up for grabs.
What would flip the ratio, and what would keep it down The underperformance question ultimately resolves into a set of watchable conditions, and naming them is more useful than guessing. The ratio would flip in Ether’s favor on several developments. The clearest would be a broad rotation into altcoins, the classic late-cycle dynamic in which Bitcoin dominance peaks and capital flows down the risk curve into Ether first; a sustained turn upward in the ETH/BTC ratio off its multi-year lows would be the signal that this is underway. ETF flows rotating toward Ether, especially if staking-enabled Ether products draw yield-seeking institutional capital, would provide a concrete demand catalyst.
A stumble in Solana’s momentum that returns on-chain activity and developer attention to Ethereum would repair the competitive narrative. A macro shift to risk-on, with the Federal Reserve easing and liquidity improving, would favor the higher-beta asset, which is Ether. And technically, reclaiming resistance near $1,700 to $1,750 and then the higher averages toward $2,000 and $2,317 would confirm a trend change. If these align, the reversal thesis gains the upper hand.
The conditions that keep Ether underperforming are the mirror image. Continued institutional concentration in Bitcoin, with ETFs and treasuries channeling allocation toward the market leader and away from Ether, would preserve the structural imbalance. Ongoing Solana strength and further erosion of Ethereum’s on-chain dominance would keep the fundamental narrative weak.
A persistent risk-off market would keep capital huddled in Bitcoin instead of rotating into higher-beta Ether. And technically, a loss of the $1,500 support that opens $1,450 and $1,400 would confirm that sellers remain in control and that the ratio is still falling. The practical discipline for anyone watching this question is to track the ETH/BTC ratio directly as the scoreboard, alongside Bitcoin dominance, ETF flow data, Solana’s activity trends, and the macro backdrop. Those signals will reveal whether 2026 is another year of Ether lagging the leader or the year the long underperformance finally reverses. The market will answer the question through the ratio; the job is to watch it instead of to assume.
Three scenarios for Ethereum in 2026 Translating the debate into scenarios captures both the dollar price and the relative-performance dimension. In the bull scenario, the underperformance reverses. Capital rotates into Ether in a late-cycle altcoin phase, ETF flows and staking demand pick up, Solana’s momentum cools, the macro turns risk-on, and Ether recovers toward the $4,400 to $5,300 range that the optimistic forecasts describe, with the ETH/BTC ratio turning sharply higher off its multi-year lows.
In this world, Ether not only rises in dollar terms but decisively outperforms Bitcoin, rewarding the deep-value and rotation thesis. It is a coherent path, grounded in historical precedent and real catalysts, but it requires the structural forces that have favored Bitcoin to loosen.
In the base scenario, Ether broadly tracks the market without a clean resolution of the underperformance question. It stabilizes around current levels, recovers modestly if the broad market does, but continues to lag Bitcoin or merely matches it, with the ETH/BTC ratio grinding sideways near its lows instead of reversing decisively. Ether’s dollar price spends 2026 in a wide, volatile band, and the relative-performance question stays unresolved into 2027. This middle path reflects how balanced the structural arguments are and is a reasonable central expectation. In the bear scenario, the underperformance deepens.
Bitcoin’s institutional dominance persists, Solana continues to pressure Ethereum, the market stays risk-off, Ether loses the $1,500 support and slides toward $1,400 and below, validating the bearish forecasts near $1,266, and the ETH/BTC ratio falls further as capital keeps choosing Bitcoin. Which scenario unfolds depends on capital rotation, ETF flows, the Solana competition, and the macro backdrop, all of which express themselves through the ETH/BTC ratio. All 3 are live, and the breadth between them is exactly why Ether is the higher-variance bet among the majors heading into the rest of 2026.
Frequently Asked Questions Will Ethereum underperform Bitcoin in 2026? It is truly contested. Ether has underperformed Bitcoin badly, down roughly 68% from its 2025 high versus Bitcoin’s roughly 52%, pushing the ETH/BTC ratio to multi-year lows. The case for continued underperformance rests on Bitcoin’s structural institutional dominance through ETFs and treasuries, competition from Solana for on-chain activity, and a muddier value-accrual narrative for Ether. The case for a reversal rests on deep-value pricing after the severe drawdown, Ether’s strong fundamental ecosystem and staking yield, and the potential for capital to rotate into Ether in a late-cycle altcoin phase. The deciding signal is the ETH/BTC ratio itself; a sustained turn higher would mark a reversal, while continued weakness would confirm more underperformance.
Why has Ethereum fallen harder than Bitcoin? Several structural forces have weighed on Ether more than Bitcoin. The biggest is the institutional bid for Bitcoin as digital gold and a reserve asset, channeled through ETFs and corporate treasuries, with no equally powerful equivalent for Ether. Competition from Solana and other high-throughput chains has captured on-chain activity that once flowed to Ethereum, weakening its growth narrative. And Ether’s value-accrual story has grown more complicated, with much activity migrating to Layer-2 networks whose fees do not cleanly translate into demand for the token. In a risk-off market, capital concentrates in the asset with the strongest institutional endorsement, which has been Bitcoin, leaving higher-beta Ether to fall harder.
What is the ETH/BTC ratio and why does it matter? The ETH/BTC ratio expresses Ether’s price in terms of Bitcoin instead of dollars; it rises when Ether outperforms Bitcoin and falls when Ether lags. It matters because it strips out the broad market and isolates the question of Ether versus Bitcoin specifically, and because it functions as a barometer of risk appetite and capital rotation within crypto. A rising ratio typically signals capital rotating out of Bitcoin into Ether and altcoins, the classic altcoin-season dynamic; a falling ratio, as now near multi-year lows, signals capital concentrating in Bitcoin. For the underperformance question, the ratio is both the scoreboard and the leading indicator, so watching it directly is the best way to judge whether Ether is regaining or losing ground.
What would make Ethereum outperform again? A reversal would likely require capital rotation into Ether, the late-cycle dynamic in which Bitcoin dominance peaks and money flows into Ether and altcoins, signaled by the ETH/BTC ratio turning up off its lows. Concrete catalysts include ETF flows rotating toward Ether, especially staking-enabled products attracting yield-seeking capital; a stumble in Solana’s momentum returning activity to Ethereum; a macro shift to risk-on that favors higher-beta assets; and Ether reclaiming technical resistance near $1,700 to $1,750 and then the higher averages toward $2,000 and $2,317. The bull thesis also leans on deep value after the 68% drawdown and Ether’s strong fundamentals in decentralized finance, tokenization, Layer-2s, and staking. If these align, the long underperformance could reverse in 2026.
What are analysts forecasting for Ethereum in 2026? The range is very wide. Bearish, model-driven forecasts see continued weakness, with Traders Union projecting a year-end average near $1,266 and DigitalCoinPrice pointing to a 4th-quarter low around $1,370, implying Ether stays near its lows. Bullish forecasts are far higher, with BitScreener toward $4,676 and others, including Cryptopolitan and optimistic scenarios at LiteFinance, in the $4,400 to $5,300 range, implying a strong recovery. The gap from roughly $1,266 to $5,300 reflects genuine uncertainty: the low end assumes structural underperformance continues, while the high end assumes a reversal driven by rotation and deep-value mean reversion. Ether’s outcome is more binary than Bitcoin’s because it depends on whether capital rotates back toward Ether specifically.
Is Ethereum a better buy than Bitcoin right now? This article does not give buy recommendations, and the honest answer is that it depends entirely on the question it examines. Ether offers higher potential reward if the underperformance reverses, because it is more deeply discounted and has more room to mean-revert, but it carries higher risk because the structural forces favoring Bitcoin- institutional dominance, Solana competition, and a muddier narrative- may persist. Bitcoin has been the safer, more institutionally endorsed asset that capital has favored in the risk-off market. Choosing between them is really a bet on whether capital rotates back toward Ether in 2026 or stays concentrated in Bitcoin, which is the unresolved question at the center of this analysis. Both are highly volatile and can lose value.
This article is information, not financial or investment advice. Ethereum and Bitcoin price levels, the ETH/BTC ratio, indicator readings, and analyst forecasts reflect data available as of June 28, 2026, are point-in-time, and can change rapidly. Cryptocurrency is highly volatile, and you can lose money. Price predictions are inherently uncertain, and the scenarios described are not guarantees. Do your own research and consult a qualified financial professional before making any investment decision.
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TL;DR Bitmine Immersion Technologies has expanded its Ethereum treasury to 5,700,040 ETH. The latest update places the company among the largest publicly disclosed corporate Ethereum holders. The move keeps the focus on whether ETH treasury strategies are becoming a more serious corporate playbook, not just a Bitcoin-only story. Bitmine Adds To Its Ethereum Stack Bitmine Immersion Technologies has added to its Ethereum holdings again, expanding its treasury to 5,700,040 ETH after its latest reported purchase.
For readers, the important point is not just that another public company bought more crypto. It is that the company is continuing to treat Ethereum as a treasury asset at a time when the market has been under pressure and sentiment around crypto risk has weakened.
That makes this a little different from the usual “company buys token, price may move” story. Bitmine is building a position that is now large enough to sit in the same conversation as the more familiar corporate Bitcoin treasury strategies. The asset is different, the market structure is different, and the risk profile is different, but the treasury logic is similar: hold a major crypto asset on the balance sheet and let investors decide whether that exposure is a feature or a risk.
Why This Matters For ETH Ethereum has spent years being viewed through several lenses at once. It is the base layer for DeFi, NFTs, stablecoins, tokenized assets, and much of the on-chain economy. But as a corporate treasury asset, it has not had the same simple public-market narrative as Bitcoin.
That is why Bitmine’s continued accumulation is worth watching. A company holding millions of ETH does not automatically create a new institutional trend, but it does add another example for investors trying to understand whether ETH can become a balance-sheet asset beyond crypto-native funds and staking-heavy vehicles.
It also raises a cleaner market question: if companies start holding ETH in size, are they buying it for price exposure, network utility, staking economics, or all three? Those distinctions matter. Bitcoin treasury companies are generally easy to explain: they hold BTC because they want Bitcoin exposure. Ethereum treasury strategies can become more complicated because ETH sits inside a broader network economy.
The Reader-Relevant Takeaway The latest purchase does not prove that corporate Ethereum accumulation is about to accelerate across the market. It does, however, show that Bitmine is still leaning into the strategy despite a weaker crypto tape.
That is the part traders will care about. In soft markets, treasury additions can be read as confidence, but they can also be read as concentration risk. If ETH strengthens from here, the move may look well-timed. If ETH weakens, the size of the position will invite tougher questions about volatility and treasury management.
For now, Bitmine has made the signal clear: it wants to be known as one of the biggest public Ethereum holders, and it is still adding to the stack.
—
This article was written by the News Desk and edited by Samuel Rae.
GameStop said it will continue to advance its $56 billion acquisition plan for eBay.
According to Reuters, GameStop says it will continue advancing its acquisition of eBay, even after the e-commerce giant rejected its roughly $56 billion all-cash and stock offer. GameStop CEO Ryan Cohen’s May proposal to acquire eBay took Wall Street by surprise. Cohen argued the combined entity would be a stronger competitor to Amazon, and stated he would oversee its operations. eBay rejected the offer that same month. GameStop noted it remains committed to the acquisition plan, but did not disclose the deal’s rationale or next steps. Separately, in a brief regulatory filing, GameStop projected its adjusted EBITDA for fiscal 2026 will exceed $600 million, up from the $345.4 million reported for fiscal 2025.
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SemiAnalysis: AI semiconductor manufacturing bottlenecks may extend to critical materials such as tungsten
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Not financial or tax advice. PANews content is strictly educational and informational and is not investment advice, financial advice, tax advice, legal advice, or a solicitation to buy or sell any digital asset, security, or financial product. Do your own research and consult qualified advisers.
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Bitcoin climbed back above $60,000 after Strategy Inc. (NASDAQ:MSTR) unveiled its BTC monetization and capital restructuring program, easing near-term concerns and supporting a rebound in crypto sentiment.
Notable Statistics:
Coinglass data shows 86,762 traders were liquidated in the past 24 hours for $355.22 million. SoSoValue data shows net outflows of $444.5 million from spot Bitcoin ETFs on Friday. Spot Ethereum ETFs saw net outflows of $12.9 million. In the past 24 hours, top losers include MemeCore, Velvet and Pi. Notable Developments:
Trader Notes:
Analyst Ted Pillows noted that Bitcoin recorded its first weekly close below $60,000 in nearly two years, signaling a significant technical breakdown.
He also pointed to continued spot Bitcoin ETF selling and the prospect of Strategy selling Bitcoin as additional headwinds, arguing BTC is likely to fall toward $50,000 before eventually rallying to $100,000.
Trader Justin Bennett said Bitcoin’s first weekly close of the year below $60,000 reflects persistent bearish market structure despite expected end-of-month and quarter-end institutional positioning.
A short-term relief rally or bullish reversal is possible.
Expert Benjamin Cowen pointed out that Bitcoin posted a weekly close below its 200-week moving average, calling it another example of the recurring four-year market cycle.
He also noted that the first weekly close below the 200-week moving average during the 2022 bear market likewise occurred in June, suggesting a historical parallel with the current price action.
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Chainlink holder count climbed to 892.8K Ethereum wallets after adding more than 8K holders in five days. Recent wallet growth accelerated sharply and pushed LINK closer to the 900K holder milestone. Santiment linked the increase to growing interest in tokenized assets and institutional blockchain projects. LINK holder growth continued even while the token traded near recent local price lows. Chainlink has surpassed another important adoption milestone amid the recent surge in wallet growth over the last few days. The network now has 892,800 non-empty Ethereum wallets, which have swelled by over 8,000 in the last five days, according to fresh on-chain data.
The boost is part of a growing spotlight on the crypto market on tokenized assets and institutional blockchain projects. Despite LINK trading near recent lows, the latest stats suggest more people are joining the network.
Chainlink Holder Count Rises as More Wallets Join the Network On-chain analytics platform Santiment reported that Chainlink’s holder count has entered a much steeper growth phase. The platform tracks non-empty Ethereum wallets holding LINK.
Its latest data shows the network added more than 8,000 holders over five days. That pushed the total number of wallets holding LINK to roughly 892,800.
The recent increase stands out from previous growth trends. According to Santiment, Chainlink could move beyond the 900,000-holder mark before the week ends if the current pace continues.
✍️ TL;DR: Chainlink’s holder count has gone parabolic
📊 Metrics used: Total Holders
🔗 Link to chart: https://t.co/dtIQSALghS
📈 Chainlink’s holder growth is suddenly accelerating in a big way. $LINK on Ethereum is now up to 892.8K non-empty wallets, adding more than 8K holders… pic.twitter.com/rr4POGHn9a
— Santiment Intelligence (@SantimentData) June 29, 2026
Holder growth remains one of the clearest ways to measure network adoption. A larger holder base often reflects increasing participation across an ecosystem, regardless of short-term market movements.
While price often attracts the headlines, wallet data can tell a different story. In Chainlink’s case, more users continue entering the network even as LINK remains close to recent local lows.
Institutional Blockchain Activity Keeps Chainlink in Focus Santiment linked the recent wallet expansion to several developments involving real-world assets and institutional finance.
These include Project Pangea, DTCC’s collateral initiatives, tokenized assets, and 24/5 equity data streams.
Chainlink has become part of a growing number of blockchain projects supporting tokenized financial infrastructure.
Its oracle network provides external data that decentralized applications and financial platforms rely on. The latest wallet figures arrived during a period when institutional blockchain projects continue expanding.
Real-world asset tokenization has also remained one of the industry’s most active development areas throughout the year.
Although LINK has yet to stage a major price recovery, wallet growth has continued moving higher.
Santiment noted that the increase in holders has taken place while the token trades near local lows, suggesting network participation continues to build despite subdued market conditions.
Chainlink’s expanding holder base adds another metric to watch as adoption develops across the ecosystem. The latest on-chain figures show users continue accumulating LINK while institutional blockchain and tokenized asset initiatives remain active across the broader crypto market.
Loopring, an Ethereum [ETH] layer-2 scaling protocol, has announced it will shut down its decentralized exchange, marking the end of one of Ethereum’s earliest layer-2 pioneers.
Declining user engagement over several years was a major factor in Loopring’s decline. However, it seems that this decline in engagement was largely due to the growing popularity of zkEVM technologies, which provide full support of the EVM.
Source: X Unlike Loopring’s (LRC) specialized zkRollup design, zkEVMs allow existing Solidity applications to deploy without extensive redevelopment, accelerating ecosystem growth. That transition steadily reduced daily active addresses, transaction volumes, DEX activity, and protocol fees before the shutdown on the 28th of June.
Therefore, it appears that innovative technology can establish a platform as a leader in terms of scalability. If such a platform does not also offer widespread composability, then ultimately it cannot maintain that position.
Yet, unless Loopring develops its zk-Rollup technology into either Layer-3 or modular solutions, the discontinuation of Loopring represents the beginning of Ethereum’s next step in scalability.
Can Loopring’s technology survive beyond its DEX? Loopring’s shutdown raises questions on how much Ethereum has lost one of its first layer-2 pioneers, with the innovation in layer-2. A decline in all key metrics such as TVL, transaction volume, daily users, and liquidity has made the Loopring independent DEX less relevant.
The Layer-2 protocol directly pointed out that the reason for this downward trend was low adoption, low composability, bad business practices, and 2026 delisting from exchanges using LRC. These trends point toward the possibility that the original protocol will be unable to reverse.
Source: Loopring on X However, the network’s technology tells a different story. Loopring’s current zkrollup architecture continues to provide a known secure and high-throughput design.
As long as these features can be used by other protocols in Layer-3 or modular infrastructure, then Loopring’s contributions to Ethereum history may continue. Alternatively, if they cannot, then this may signal the death of one of Ethereum’s first Layer-2 specific innovations.
Final Summary Loopring’s shutdown reflects years of weak adoption, falling activity, and pressure from zkEVM competitors. Loopring now depends on whether its zkRollup technology can survive through Layer-3 or modular infrastructure.
Crypto markets may be volatile, but the builders keep building. According to @SantimentData's latest 30-day GitHub development activity ranking, @MetaMask USD ($mUSD) sits at the top by a wide margin, ahead of some of the most established names in the industry.
The Top Five by Development Activity The current ranking, based on notable GitHub events over the past 30 days, is:
Santiment's ranking is based on daily notable development activity recorded on GitHub, tracking which projects within the ecosystem are experiencing the most intense technical progress. Importantly, Santiment tracks the number of GitHub events a project generates rather than simply counting commits, since pushing a commit is just one of many actions that produces an event. The methodology also filters out low-value noise such as automatic updates or superficial changes, making it a more reliable signal of genuine engineering momentum.
What Is Driving mUSD's Lead MetaMask USD ($mUSD) is the first native stablecoin launched by a self-custodial wallet, built with Bridge, a Stripe company, and M0, and supports on-ramps, swaps, bridging, and will soon be spendable via the MetaMask Card at millions of Mastercard merchants. Supported on Ethereum Mainnet and Linea, every mUSD in circulation is backed 1:1 by short-term US Treasury bills.
The development activity reflects ongoing technical work on the stablecoin's contracts, M0 protocol integrations, yield features, and wallet features such as swaps, bridging, and the MetaMask Card. MetaMask is building mUSD as a core financial layer inside the wallet, with a focus on frictionless on- and off-ramps, seamless cross-application payments, and native DeFi access, effectively evolving the wallet into a full financial operating system.
The gap between mUSD and the rest of the field is notable. According to Santiment, the list reflects only the technical development strength of projects and the activity of their teams, independent of price movements. That makes it a useful lens for gauging which teams are genuinely committed to shipping, regardless of where markets are trading.
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