Track market-moving stories before they get noisy

Ethereum is trading near $1,740 at the time of writing after stabilizing above a key support area, but the daily chart still shows a market trapped below its main moving averages. The current setup is not a clean bullish reversal yet; it is a consolidation phase where ETH has stopped falling, while on-chain activity has not shown enough strength to confirm a stronger recovery.

Summary ETH is holding above the $1,700–$1,750 support area. The 50-day SMA near $1,787 remains the first major recovery test. Binance’s Ethereum reserve is moving sideways near 3.86M ETH. Lower velocity and falling volatility point to a wait-and-see market. The Chart Shows Stabilization, Not Strength Yet Ethereum’s latest move on the TradingView daily chart looks like a pause after a steep decline, not a confirmed trend reversal. The price has stopped making aggressive lower lows and is holding above the lower part of its recent range, but it remains below the 50-day, 100-day, and 200-day simple moving averages.

That matters because the first real test is no longer the downside wick. It is whether ETH can reclaim the 50-day SMA near $1,790 and hold above it. Until that happens, the move looks more like a relief bounce inside a broader downtrend than the start of a sustained recovery.

The Support Zone Is Doing the Heavy Lifting For now, the support area around $1,700–$1,750 is the level keeping the chart constructive. As long as ETH holds that zone, the market can keep building a base and attempt another push toward the 50-day SMA.

A break below that area could change the setup. It might suggest that the consolidation failed and that sellers are still controlling the structure. In that case, the previous swing-low region around $1,505–$1,550 becomes the next important downside area to watch.

CryptoQuant Data Confirms the Waiting Game The on-chain picture supports the same conclusion. According to CryptoQuant analysis, Binance’s Ethereum exchange reserve stands near 3,857,896 ETH and has moved sideways over the past few weeks.

That is important because exchange reserve data often shows whether coins are being moved toward trading venues or withdrawn into longer-term storage. A sharp rise in reserves can suggest more ETH is available to sell. A clear decline might point to stronger accumulation or reduced exchange-side supply. The current sideways movement shows neither side has taken control.

Ethereum’s velocity is also weak, sitting near 9.85 after trending slightly lower in recent months. Lower velocity means ETH is circulating more slowly across the network, which points to weaker on-chain economic activity and a slower demand impulse.

The volatility signal points in the same direction. CryptoQuant’s chart shows ATR declining to around 15,362 on the tracked series, suggesting movement has narrowed rather than expanded. In practical terms, ETH is not showing the kind of volatility expansion that usually confirms a new directional phase.

Why the 50-Day SMA Matters The 50-day SMA is the nearest technical barrier because it sits just above current price and near the top of Ethereum’s recent consolidation zone. A daily close above that level may show that buyers are strong enough to push ETH out of the lower range and challenge the next resistance area.

The problem is that the larger trend is still heavy. The 100-day SMA is near $2,024, while the 200-day SMA is around $2,245. That means even if ETH breaks the 50-day average, it can still face a wider resistance band before the daily structure turns convincingly bullish.

What Might Change the Setup For the bullish case to strengthen, ETH needs more than another short bounce. Price needs to reclaim the 50-day SMA, exchange reserves would need to decline more clearly, and velocity would need to recover. That combination can suggest buyers are absorbing supply while network activity improves.

The bearish case may strengthen if ETH loses the $1,700–$1,750 support area while exchange reserves rise. That could point to more coins moving onto exchanges at the same time price support is weakening.

For now Ethereum is in a low-volatility range, not a confirmed recovery. The chart is holding support, but the on-chain data does not yet show strong accumulation or renewed network demand.

The clean bullish signal can be a daily close above the 50-day SMA, supported by falling exchange reserves and improving velocity. The bearish signal might be a rejection near $1,787 followed by a move back below the current support zone. Until one of those happens, ETH remains in consolidation rather than a confirmed trend reversal.

In brief Bitcoin fell 2.89% this week, closing at $61,749 after failing to break resistance in the $64–65K range—the key zone bulls needed to reclaim to change the short-term narrative. Ethereum confirmed a weekly death cross for the first time in years, with its 50-week EMA now below its 200-week EMA, and prediction market traders now pricing a 72.3% chance ETH hits $1,500 before it sees $3,000 again. The broader crypto Fear & Greed Index sits at 23 (extreme fear), spot Bitcoin ETFs just ended a 10-day, $2.7 billion outflow streak. The crypto market enters the second week of July in rough shape.

Bitcoin is holding on, but just barely, in the low $60,000s after briefly touching 21-month lows under $58,000 last week. Ethereum is below $1,750, down around 4% on the day, and more than 30% in the last year. The broader market is down, of course, and altcoins are down harder.

The total crypto market cap excluding BTC and ETH shed 30% since January. Crypto IPOs—Gemini, Bullish, BitGo—have imploded since their debut.

The mood is, understandably, grim.

But grim moods have a long history of being wrong at exactly the wrong time. Every major Bitcoin bear cycle since 2009 has ended with a flush, an extreme fear reading, and a moment where the obvious trade looked like going short.

Bitcoin has now been through four such cycles, and in nearly every case, a pre-halving compression phase—where price grinds lower and sentiment deteriorates before the next supply shock—preceded the next leg up. The next halving—when mining rewards, and therefore the supply of newly minted Bitcoin, are cut by 50%—is roughly 21 months away, which historically is when accumulation starts making uncomfortable sense.

The difference this cycle? Crypto is now mainstream.

Spot Bitcoin ETFs, institutional balance sheets, formal accounting standards changes, and a legislative framework for digital assets have all arrived since the last halving. Bitcoin now has a fundamentally different institutional status than it did when BTC was a niche hobby. That doesn't eliminate volatility—it just means the players in this bear market are wearing different suits than last time. Whether that speeds up or delays the bottom is an open question. The charts, for now, have their answer.

Bitcoin price: optimism with an asterisk

Bitcoin opened the week at $63,587, hit a high of $64,657, then closed lower, meaning that the bulls showed up, tried to push through, and failed. Bitcoin is trading hands at $61,749, down 2.89% in the week.

It’s important to note that BTC fell to $58,035 just days ago—a 21-month low—before bouncing.

The resistance zone that stopped the spike is exactly the one everyone was watching. The $64–65K area has been acting as a ceiling since early June, and this week's candle barely kissed it before retreating. On Myriad, a prediction market developed by Decrypt’s parent company Dastan, traders are placing nearly 73% odds that Bitcoin touches $55,000 before $84,000. The sentiment among predictors flipped on June 2—before that, the smart money was leaning bullish.

Zooming out on the weekly chart, the Fibonacci retracement (natural support and resistance zones that happen during a trend) of that entire downleg from $82,833 places the $73,245 and $70,284 zone as with the most activity.

The Average Directional Index, or ADX, is at 30.7. The ADX measures trend strength regardless of direction on scale from 0 to 100. When it’s above 25, this tells traders that an actual trend is in place, and 30.7 is solidly there. Based on directionality, bears are in control.

The Relative Strength Index, or RSI, sits at 36.8. RSI measures momentum, similarly on a 0–100 scale: Above 70 signals overbought conditions and usually triggers profit-taking; below 30 signals oversold conditions that typically attract buyers. At 36.8, Bitcoin is close to oversold but hasn't crossed the threshold yet. The technical setup suggests selling pressure may be approaching exhaustion—but "approaching" isn't "done." Right now markets appear to be panic selling.

One note of caution for the bears: The picture painted by the exponential moving averages remains bullish. Bitcoin's 50-week exponential moving average, or EMA, is still above its 200-week EMA. When this happens, it forms a pattern that traders refer to as a “golden cross,” which in this case is technically still intact. But it's narrowing fast. The inverse of a golden cross is a death cross, and if it forms on the weekly chart it would represent a structural shift that very few Bitcoin cycles have survived without a deeper flush first.

Thankfully for permabulls, this has not happened in a while.

Reasons for the bullish case are mostly fundamental:

Spot Bitcoin ETFs just snapped a 10-day, $2.7 billion outflow streak with a $221.7 million single-day inflow on July 2, and have since pulled in roughly $510 million. On-chain data from Glassnode shows long-term holders have returned to accumulation after an extended period of distribution, with buying activity broadening across wallet cohorts.

The Fear & Greed Index at 23, registering “extreme fear,” is historically a contrarian signal—not a guarantee, but a pattern. Some indicators approaching oversold from the weekly chart suggest the selling may be closer to exhausted than just starting.

$BTC has seen a series of bullish patterns broken, evidence of the power of the downtrend. Will this 'W' be the one that breaks the trend?

— John Bollinger (@bbands) July 2, 2026

For the bearish scenario, the technicals are more apparent for those focusing on shorter time frames:

Bitcoin failed to break the exact resistance everyone was watching. ADX at 30.7 with bearish directional index confirms an active downtrend with real momentum. Year-to-date ETF outflows are still negative. Citi downgraded its 12-month Bitcoin forecast to $82,000 with a bear case at $53,000. The Fibonacci target below current price at $57,735 is still the most visible technical magnet on the chart. Myriad's prediction market—where money, not opinions, speaks—says 72.3% chance of $55K first.

Ethereum price: The death cross nobody wanted

Ethereum is trading at $1,729.7, down 3.06% from its $1,784 weekly open. That number is painful enough. But the bigger story isn't the weekly candle—it's what just happened on the weekly chart under the hood.

Ethereum has just confirmed a weekly death cross. The 50-week exponential moving average has crossed below the 200-week EMA for the first time in years. The upcoming days/weeks will be key to define positions for long-term trades if the cross extends and is not invalidated.

On shorter timeframes, death crosses happen regularly and can reverse quickly. On the weekly chart, they represent months of structural deterioration, and they tend to define entire market phases rather than single moves.

Ethereum's daily chart has been in death cross since November 2025, when ETH peaked near $4,100 before beginning its extended decline. That daily bearish structure has now propagated to the weekly frame—a longer-timeframe confirmation that the bear trend isn't a blip.

Traders on Myriad appear as bearish on ETH as they do on BTC, likewise pricing in a 72% chance Ethereum hits $1,500 before $3,000. These odds flipped in May—before that, the market was closer to 50-50 between the two outcomes. The gap between options is now at its largest since June, suggesting conviction has moved firmly into the bearish camp among traders putting actual money on the line.

The Fibonacci retracement on ETH's downleg from $2,465.8 to $1,505.1 defines the zone between $2,098.9 and $1,985.5 as the ones with the most activity to watch for. Current price at $1,729.7 is pinned near the Fib level at $1,731.8. Below that, the next meaningful technical reference is the $1,500 price zone. That's exactly the doom scenario Myriad traders are betting on.

The ADX reads 26.5 with bearish directionality—same story as Bitcoin, just more pronounced. A trend is confirmed, the direction is down, and the bears have the momentum. RSI at 36.9 mirrors Bitcoin's reading almost exactly: bearish, approaching oversold but not there yet.

Some hopium for the bulls: Weekly death crosses on Ethereum have historically appeared around the final stages of bear market cycles—not the middle of them. In prior cycles, the three-day death cross frequently coincided with or immediately preceded significant bottoms. In other words, this is the panic zone in which many people wait to buy the asset for cheap.

If that pattern holds, the pain may be closer to ending than beginning. ETH spot ETFs turned positive on July 2 with $29.1 million in inflows. RSI is approaching oversold on the weekly—a zone that has historically been a strong accumulation signal for patient buyers.

Now for the bears: A weekly death cross is a new structural reality, not a temporary signal—it took months to form and typically takes months to reverse. US spot ETH ETFs logged a record 17 consecutive days of net outflows totaling $401 million in May, followed by another 10-day streak in June.

The Fibonacci target of $1,500 is technically the next major level, and it's the exact number Myriad's 72.3% majority is betting on. Citi's bear case for ETH is $1,094. The weekly structure doesn't give bulls much to work with until the price of Ethereum reclaims the $2,000 area—a 15.6% climb from current levels that would require a sustained trend reversal that no indicator yet confirms.

Disclaimer

The views and opinions expressed by the author are for informational purposes only and do not constitute financial, investment, or other advice.

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After its recent attempt to rally, Ethereum is once again flashing signs of technical weakness. While the ETH price remains above a critical support zone, trading indicators now suggest that buying power has lost momentum compared to previous periods, raising caution among market participants.

Pressure increases in the technical outlookOn July 8, 2026, the cryptocurrency analyst known as BATMAN reported that Ethereum had formed a hidden bearish divergence. This pattern is observed when the price fails to reach new highs while certain technical indicators test higher levels—a classic warning sign that, although the bullish trend may not be fully over, buyer strength is waning.

BATMAN noted that the hidden bearish divergence on Ethereum’s chart does not necessarily signal an imminent sharp decline, but emphasized that it creates a technical setup which could make further recovery attempts more challenging.

At the time of reporting, ETH changes hands at $1,714.17. Its 24-hour trading volume stands at $13.12 billion, while its market capitalization is $208.21 billion. Over the past 24 hours, the asset has lost 4.33% of its value.

According to Bollinger Band data, the upper band is at $1,839.76, the middle band at $1,677.38, and the lower band at $1,515.01. Ethereum recently approached the upper band before retracing, though it is still trading above the middle band, suggesting a key area for technical support.

MACD stays positive but momentum fadesThe MACD (Moving Average Convergence Divergence) indicator still remains in positive territory. The MACD line stands at -4.01, the signal line at -30.17, and the histogram at 26.16. While the green bars on the histogram reveal lingering bullish momentum, they have begun to narrow, highlighting a softening in market demand.

Ethereum holds its position as the world’s second-largest cryptocurrency by market value. It serves as the foundational infrastructure for decentralized finance applications, tokenization, NFT transactions, and a wide array of blockchain-based solutions. As a result, shifts in the ETH price are closely followed across the broader digital asset market.

Key support and resistance levels aheadWhile technical signals alone do not dictate price direction, they are crucial for identifying potential breakout zones. Should buying appetite recover, Ethereum could break above the $1,840 resistance, making the latest pullback a temporary pause.

If selling pressure continues and ETH falls below the middle Bollinger Band at $1,677, analysts warn that attention may turn quickly to the key support at $1,515.

In the near term, the trajectory of Ethereum’s price will depend on which side—buyers or sellers—gains the upper hand in the next several trading sessions. Although ETH continues to hold above a critical technical support, weakening indicators mean that market players are adopting a more cautious approach.

Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.

SharpLink (Nasdaq: SBET) pulled in 449 ETH in staking rewards for the week ending July 5, 2026. That brings the company’s total Ethereum stash to 887,174 ETH, a pile worth well over $2 billion at current prices and growing larger every single week.

Here’s the thing about SharpLink: it’s essentially turned itself into a publicly traded Ethereum staking machine. And unlike buying an ETH ETF, this one actually generates yield.

The numbers behind the staking engine Since launching its Ethereum-focused treasury strategy on June 2, 2025, SharpLink has accumulated 22,991 ETH purely from staking rewards. That’s ETH earned just by locking up existing holdings and validating transactions on the network.

The company stakes nearly 100% of its ETH through institutional partners Liquid Collective and Figment. A portion of the company’s assets has also been deployed to Linea, an Ethereum Layer 2 network, as part of a broader yield diversification strategy.

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The 449 ETH earned this week translates to roughly a 2.6% annualized yield on the total holdings, which tracks closely with typical Ethereum staking returns.

From gaming company to Ethereum treasury vehicle If you’re wondering how a company called “SharpLink Gaming” ended up holding nearly 900,000 ETH, the answer is a dramatic corporate pivot. The company rebranded in February 2026 to ditch the gaming association entirely and lean fully into its identity as an Ethereum treasury company.

The playbook should look familiar. It’s the same strategy MicroStrategy pioneered with Bitcoin, just applied to Ethereum with an added twist: staking yield. While MicroStrategy’s Bitcoin sits in cold storage generating zero passive income, SharpLink’s ETH actively earns rewards by participating in network validation.

That distinction matters. Traditional ETH exchange-traded products, including spot ETH ETFs, don’t offer staking rewards to holders due to regulatory constraints. SharpLink has positioned itself as the workaround: buy the stock, get exposure to ETH plus the yield that ETFs can’t touch.

The market has noticed. Institutional ownership climbed to 46% by late 2025. The Russell index inclusion in June 2026, when SharpLink was added to both the Russell 2000 and Russell 3000, likely accelerated that institutional buying as index funds were forced to pick up shares.

The discount problem investors should understand SharpLink shares have displayed significant volatility and frequently trade at a discount to the company’s net asset value calculated from its ETH holdings. In simple terms: if you add up all the ETH SharpLink owns and multiply by the current ETH price, the number you get is higher than what the stock market says the company is worth.

Because SharpLink’s value is almost entirely tied to ETH’s price, the stock amplifies Ethereum’s moves. When ETH drops 5%, SBET might drop 7% or 8% as the discount widens.

The 22,991 ETH in cumulative staking rewards since launch is real yield generated from a real on-chain activity. For investors weighing SBET against alternatives, the calculus comes down to whether the staking yield premium, roughly 2-3% annually, compensates for the risks of holding a small-cap equity instead of the underlying asset directly.

Disclosure: This article was edited by Editorial Team. For more information on how we create and review content, see our Editorial Policy.

Input Output Global (IOG) CEO Charles Hoskinson has criticized Ethereum’s staking mechanism, arguing that Cardano provides a better alternative.

In a recent commentary, Hoskinson took aim at several aspects of Ethereum’s proof-of-stake (PoS) architecture, particularly its staking design. According to him, Ethereum forces users to navigate unnecessary fund lockups, slashing risks, bonding periods, with liquid staking solutions built around derivative assets such as Lido.

“You have to lock your funds, and have slashing and bonding, and all this garbage, and create synthetic assets like Lido,” Hoskinson said.

He contrasted Ethereum’s approach with Cardano’s staking model, emphasizing that Cardano does not require users to lock their assets to earn staking rewards. 

“There’s no locking in Cardano,” Hoskinson said. 

Ethereum and Cardano Take Different Approaches to Staking Although Ethereum and Cardano both rely on the Proof-of-Stake (PoS) mechanism to secure their networks, they implement staking in fundamentally different ways.

Ethereum requires validators to stake 32 ETH to operate a validator node. The network also incorporates slashing penalties to discourage malicious behavior and uses withdrawal queues that can delay access to staked funds.

Since Ethereum staking traditionally involves locking assets while awaiting withdrawals, many investors have turned to liquid staking platforms such as Lido. These services issue derivative tokens that represent staked ETH, allowing users to trade or deploy those assets across decentralized finance (DeFi) applications while the underlying ETH remains staked.

Conversely, Cardano employs a native liquid staking model that allows ADA holders to delegate their tokens without locking their funds. Users retain full control of their ADA throughout the staking process and can spend or transfer their holdings at any time while continuing to earn rewards through Cardano’s Ouroboros consensus mechanism.

In Hoskinson’s view, this design eliminates unnecessary complexity while making staking more accessible to everyday users.

Ethereum EUTXO Dispute Hoskinson’s remarks come shortly after he accused Ethereum of borrowing key ideas from Cardano without acknowledging their origin.

As previously reported, he criticized an Ethereum Foundation proposal that seeks to introduce native UTXO-style payments through “one-shot” objects. The proposal aims to reduce Ethereum’s state bloat by up to 99.8%, while preserving the network’s existing account-based architecture.

According to Hoskinson, the proposal replicates Cardano’s Extended UTXO (EUTXO) model, which has been a core component of the blockchain since its launch. He argued that Ethereum adopted concepts pioneered by Cardano over 10 years ago without giving the project proper credit.

Hoskinson Expects More Cardano Innovations to Influence Ethereum Looking ahead, Hoskinson suggested that Ethereum could eventually adopt additional innovations pioneered by Cardano.

He predicted that the network may embrace Cardano’s on-chain governance framework, Ouroboros consensus protocol, and treasury system as it continues evolving its architecture.

His latest comments extend a long-running rivalry between the two leading Proof-of-Stake blockchains, with Hoskinson continuing to position Cardano’s staking design and broader architecture as more efficient, accessible, and sustainable than Ethereum’s current model. 

DisClamier: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basic opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.

Hoskinson argues Cardano's years of research deserve recognition as Ethereum explores similar technical approaches.

Charles Hoskinson has accused Ethereum of adopting ideas pioneered by Cardano without acknowledgment.

The Cardano co-founder made the claim following a proposal by Ethereum researcher Toni Wahrstätter to bring native UTXOs to the network as a way of cutting long-term state storage for payment transactions.

Ethereum Is Revisiting Cardano’s Work According to Hoskinson, Wahrstätter’s research closely mirrors concepts Cardano has been developing since its launch.

“It’s literally a crime in the Ethereum inner circle to mention Cardano,” he wrote on X. “EUTXO is the biggest innovation of the smart contract world and Ethereum cannot mention it as they literally try to copy it.”

Wahrstätter’s proposal describes a payment model that stores only a small “spent” marker in Ethereum’s state while keeping the rest of the payment data in blockchain history. According to the research, this approach could reduce the permanent state required for payment workloads by as much as 99.8% without abandoning Ethereum’s account-based architecture.

The proposal borrows the one-time payment structure used by Bitcoin’s UTXO model while allowing Ethereum accounts and smart contracts to keep on operating. It also relies on the proposed EIP-8141 transaction framework to let users spend UTXOs without first holding ETH for gas fees.

Hoskinson followed up his post on X with a livestream on the same platform, where he read a tweet by Wahrstätter announcing the proposal and pointed out that it made no reference to Cardano despite his network spending years solving many of the engineering problems that Ethereum is now exploring.

“For ten years, we’ve worked on extended UTXO, smart contracts on UTXO,” he said. “We wrote a paper called Chimeric Ledgers to show how to run these two systems in parallel.”

He argued that Ethereum developers had in the past dismissed UTXO-based smart contracts as impractical before now putting similar ideas on their long-term roadmap.

You may also like: Staking Surge Tightens Supply, But Negative Sentiment Still Dominates Ethereum Ethereum Execs Launch Non-Profit to Accelerate Institutional Adoption Bitmine Buys Another 27,000 ETH Despite Market Slump, Nears 5% of Ethereum Supply Long-Running Rivalry Returns to the Spotlight During the livestream, Hoskinson expanded his criticism beyond Wahrstätter’s proposal, claiming that Ethereum has been regularly adopting ideas after dismissing them when they first appeared on Cardano.

Some of the areas he claimed such behavior had happened in included Cardano’s governance system and treasury model, which he said the Ethereum Foundation had been forced to drift toward after losing staff and money.

He also suggested that Ethereum would look to revisit Cardano’s work on privacy and post-quantum cryptography through IOHK’s privacy-focused blockchain project, Midnight, as well as its early embrace of formal verification tools like Lean. According to him, Ethereum will eventually adopt both without acknowledgment as well.

This is not the first time Hoskinson has used a livestream to vent about how he or Cardano is being treated. In June, he announced plans to move the Cardano community away from X and onto Discord, saying the social platform had become dominated by hostility and personal attacks. However, he said that he would keep using X for livestream broadcasts, the exact same format he used today to make his case against Ethereum.

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16h05 ▪ 7 min read ▪ by Ariela R.

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The latest data published by Dune Analytics reveal an important fact: stablecoins are entering a new phase of their development. Indeed, USDT and USDC are no longer seeking to dominate the same markets. The former establishes itself as the reference for payments. The latter, on the other hand, consolidates its place at the heart of DeFi. Analysts therefore agree on one point: this evolution could permanently transform the crypto ecosystem. More details in the following paragraphs!

In Brief Stablecoins no longer engage in a direct war: their uses are specializing. USDT concentrates the bulk of crypto payments, with nearly 95 billion dollars in commercial transactions observed. USDC maintains its lead in DeFi, exchanges, and dApps. The Tron, Ethereum, and Base networks play a decisive role in this distribution. This evolution could redefine global stablecoin adoption and accelerate their integration into financial infrastructures. USDT Establishes Itself as the King of Stablecoin Payments The data compiled by Dune Analytics indicate that USDT issued by Tether reigns supreme in the commercial transactions segment. Just in the first half of 2026, it represents about 95 billion dollars in stablecoin payments (compared to only 14 billion dollars for USDC). This amounts to a ratio close to 7 to 1.

That’s not all! The Tether stablecoin also captures nearly 92% of the 48 billion dollars in inter-company payments (B2B) volume alone during the same period.

Crypto analysts agree on this: if USDT currently outperforms its competitors in the stablecoin payment market, it is mainly thanks to the success of the Tron crypto network. About 93% of Tether’s total circulating supply is indeed held in private wallets rather than on exchanges or within complex protocols.

Breakdown: USDT stablecoins primarily serve as an accessible store of value, cross-border fund transfer instrument, and direct payment method for international trade. This illustrates concrete adoption. More importantly, this performance shows that Tether is now establishing itself as the monetary infrastructure of emerging markets.

Good to know: in June, USDT briefly surpassed Ethereum in terms of market capitalization.

USDC Becomes the Preferred Stablecoin of DeFi According to the Dune analysis report, Circle’s USDC rises to the rank of reference asset for:

liquidity providers; lending platforms; algorithmic traders. Specifically, the data report a massive concentration of USDC stablecoins on the Ethereum networks as well as its main growth layer 2, Base. In June 2026, for example, the USDC transfer volume on the Base crypto network reached a historic peak of 2.6 trillion dollars. This is the highest figure of all token-blockchain pairs tracked by Dune.

Even more interesting! During the same period, this digital asset processed 1.6 trillion dollars in transactions on Ethereum.

But Dune’s analysis reveals another key indicator: financial velocity. On Base, USDC indeed records a daily velocity equivalent to about 20 times its circulating supply. This means that a single digital dollar unit from Circle is reused on average twenty times per day across various smart contracts, yield loops, and DEX.

Unlike USDT, USDC stablecoins circulate mainly within an ecosystem where capital is constantly reallocated between different protocols. Simply put, they primarily feed on on-chain liquidity.

Chart showing the velocity of stablecoins (Source: Dune) A Historic Concentration That Redefines the Crypto Market Structure The Dune analysis result confirms an important point: the stablecoin market is entering a maturity phase. The days when USDT and USDC fought a sterile duel are now over. Today, the two main stablecoin issuers no longer compete for the same market shares. They extend their respective monopolies over distinct territories. Thus, each asset gradually develops a specialization.

Note that together, Tether and Circle now control nearly 83% of a global sector market capitalization amounting to 315 billion dollars. This calculation is based on tracking more than 200 stable assets across multiple blockchain networks.

To summarize this reversal, Dune CEO Fredrik Haga declared at the ETHCC 2026 held in Cannes:

The train is now moving.

For investors, the evolution of the stablecoin market shows that several players coexist today by responding to distinct needs:

On one side, USDT establishes itself as the preferred asset for international payments, fund transfers, and daily settlements. On the other, USDC becomes an essential component of DeFi protocols, trading platforms, and new financial services built on the blockchain. The key indicators now include transaction volumes, token circulation speed, liquidity depth, as well as diversity of use cases. In other words, stablecoin adoption no longer depends solely on their size. It also (and especially!) depends on their capacity to respond effectively to specific needs within the crypto ecosystem.

This Segmentation of the Stablecoin Market Complicates the Task for US Regulators Signed in June 2025, the GENIUS Act creates the first federal framework for payment stablecoins. Thanks to this law, banks have the possibility to issue digital assets pegged to the dollar. The CLARITY Act, meanwhile, defines the intervention areas of the SEC and the CFTC. It was adopted by the Senate banking committee in May by a vote of 15 to 9. Since then, it has faced persistent resistance.

Three unresolved disagreements indeed prevented the vote before July 4:

ethical obligations; protection of DeFi developers; stablecoin yield rules. The Senate resumes activity on July 13, with about three useful weeks before the August recess. Without a clear framework distinguishing a payment stablecoin from a stablecoin massively used in DeFi, regulatory uncertainty could weigh on the entire sector.

What Future for Stablecoins Facing Growing Institutional Demand? According to the Dune analysis report, the evolution of the stablecoin market towards segmentation by use is probably just a stage. It could even intensify further in the coming years, propelled by:

the rise of digital payments; asset tokenization; the arrival of new institutional players. These are all factors that should reinforce differentiated uses of the main stablecoins.

That’s not all! The boundary between payment and DeFi could also be redrawn if new issuers target specific niches like inter-company payments or institutional liquidity.

For Tether, the challenge will be to consolidate its lead in payments while supporting the expansion of digital economies. For Circle, the priority will probably remain the integration of USDC into decentralized finance infrastructures and regulated financial services.

In any case, the split in the stablecoin market demonstrates the maturity of the crypto ecosystem. It remains to be seen whether the emergence of CBDCs will disrupt this perfectly orchestrated private equilibrium. Knowing that the latter are not unanimous either.

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Ariela R.

My name is Ariela, and I am 31 years old. I have been working in the field of web writing for 7 years now. I only discovered trading and cryptocurrency a few years ago, but it is a universe that greatly interests me. The topics covered on the platform allow me to learn more. A singer in my spare time, I also cultivate a great passion for music and reading (and animals!)

DISCLAIMER

The views, thoughts, and opinions expressed in this article belong solely to the author, and should not be taken as investment advice. Do your own research before taking any investment decisions.

Bitcoin and altcoins continue to experience volatile movements due to both geopolitical and macroeconomic factors.

While predicting both bullish and bearish trends for BTC and altcoins, the latest analysis comes from expert analyst Michaël van de Poppe.

Poppe, covering Bitcoin, Ethereum, and Solana, shared his analysis from his X account.

Ethereum is a Better Investment Option Than Bitcoin! First, he stated that Ethereum is a better investment option than Bitcoin in the future.

The analyst noted that Ethereum has been remarkably resilient despite recent declines, returning to an uptrend for the first time in a year.

In this context, Poppe added that Ethereum maintained its position without experiencing a significant drop during Bitcoin’s recent correction.

Secondly, the analyst who examined Bitcoin stated that there is still no problem with the outlook for BTC.

According to the analyst, the BTC price continues to trade above $60,000 despite the renewed outbreak of war in the Middle East.

At this point, the analyst stated that the critical level for BTC is $61,000.

The analyst also said that Bitcoin has either reached its bottom or is going through an accumulation phase.

Finally, the analyst stated that he expects a correction in Bitcoin and altcoins in September/October, followed by a new major uptrend across all markets in the fourth quarter.

What’s the Situation in Solana? Poppe recently reviewed Solana and stated that he maintains his positive outlook for SOL.

The analyst notes that Solana is still in an uptrend, stating that the year-long downtrend against Bitcoin has been broken.

In this context, the analyst stated that he does not expect this trend to stop, and believes it is only a matter of time before the SOL price trades above $100 again.

The analyst, who argued that SOL should be in everyone’s portfolio, said that the situation is actually simple:

“SOL is in an uptrend against the Dollar and BTC.
Buy the dip when it falls 10-30% against BTC.”

*This is not investment advice.

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ETH at $1,730: Down 65% With Its Biggest Upgrade Weeks Away

Synopsis

Crypto futures trading in India saw significant growth from smaller cities. Women traders showed lower leverage and preferred specific digital assets. Bitcoin and Ethereum comprised a smaller portion of futures volume. Tamil Nadu led regional participation in crypto futures trading. Traders demonstrated tactical approaches and risk awareness in leveraged products.

ET OnlineWomen investors accounted for over 13% of crypto futures traders and their average leverage remained lower than that of male traders, according to a release by Giottus analysing its 1.3-million-strong customer base during the September 2025-May 2026 period.

The release further said that women traders also showed a stronger preference for XRP, Bitcoin, and gold-linked assets.

Also Read |Quant Small Cap Fund exits RIL, 8 others; raises exposure to two Adani stocks. Check full list

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Nearly half of the country’s crypto futures participation now comes from tier-2 cities even as futures trading has overtaken spot volumes. Crypto Futures contributed 57.22% of total platform trading volume, ahead of spot at 42.78%. At the same time, 48% of futures participants came from tier-2 cities, compared with 31% from tier-1 locations, and 21% from other locations.

The figures point to a broader shift in Indian crypto trading behaviour. Leveraged products (like futures) are no longer driven mainly by metro traders. The smaller-city participation is now emerging as a major force in crypto derivatives activity.

The report also showed strong acceleration in user growth during 2026. Futures participation grew 42.5% in February. It rose another 28.5% in March. April recorded 35.3% growth. In May, it was 30.3%.

Futures users currently account for only 24% of Giottus’ active user base. The data suggests there is still considerable expansion headroom within existing platform users.

“India’s crypto participation story is becoming geographically broader. We are seeing increasing engagement from smaller cities in products that were once viewed as niche or high-complexity,” said Vikram Subburaj, CEO of Giottus.

The dataset further showed unusually high engagement intensity among active traders. Average trades per active user peaked at 330 trades in January 2026. Even after moderation in April, users still averaged more than 51 trades a month. The figure was 45 in May.

Another major behavioural trend emerged in trading preferences. Bitcoin and Ethereum together accounted for only 15.35% of total Futures volume during the review period.

Ethereum accounted for 7.07% of the traded Futures volume. Solana accounted for 5.76% and XRP contributed 5.24%.

The figures suggest Indian retail traders are increasingly moving beyond Bitcoin exposure into higher-volatility altcoin opportunities. Trading behaviour appears to be becoming more tactical and event-driven.

Also Read | Smallcap funds deliver 22% average return in 3 months. Is it time to invest, hold or rebalance?

Tamil Nadu emerged as the dominant regional market in the dataset. The state contributed 46.6% of all futures traders. It also accounted for 59.26% of the platform’s total Futures trading volume. Kerala contributed 10.23% of the total trading volume.

The report also showed relatively balanced market positioning among traders. Long positions accounted for 52.79% of trades and short positions accounted for 47.21%.

Average leverage among Giottus Futures traders stood at 10x. More than 30% of trades used leverage above 10x. Despite that, monthly liquidation ratios ranged between 0.55% and 2.52% during the review period.

“The liquidation trends are important because they suggest participation is not entirely speculative or reckless. Users are showing greater awareness around position sizing and risk management while using leveraged products,” Vikram said.

The report further showed that Indian retail traders were most active between 7 pm and 10 pm. The lowest trading activity was recorded between 3 am and 6 am. The pattern reflects post-work retail participation and overlap with US market hours.

(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)

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Bitcoin and Ethereum prices have again dropped more than 2% today after U.S. President Donald Trump declared the ceasefire with Iran was “over.” This came after the U.S. launched strikes in response to Iran’s attacks on three commercial vessels in the Strait of Hormuz.

Following this news, as oil jumped 6%, Bitcoin fell to $61,700, and Ethereum slipped below $1,740.

Speaking at the NATO summit, U.S. President Donald Trump said the ceasefire agreement with Iran was now finished.

“To me, I think it’s over. I don’t want to deal with them anymore. Dealing with Tehran is a waste of time.”

According to the U.S. military, more than 80 targets were hit after Iran attacked three commercial vessels passing through the Strait of Hormuz, including ships linked to Qatar and Saudi Arabia.

Iran quickly responded by accusing the U.S. of violating the agreement. Parliament Speaker Mohamad Bagher Ghalibaf said the U.S. had broken the ceasefire agreement by launching fresh attacks, bringing back oil sanctions, and continuing military action in the region.

Major MOU Violations by the US:

Violating Iranian adjustments in the Strait

Persistent threats of further strikes

Reinstating oil sanctions

Attacks on southern Iran

Continued Zionist aggression on🇱🇧

The era of bullying and extortion is over. It leads nowhere. We don’t fold.

— محمدباقر قالیباف | MB Ghalibaf (@mb_ghalibaf) July 8, 2026 Also Read : Bitcoin (BTC) Price Prediction 2026, 2027 – 2030

Stablecoin Supply Adds More PressureThe U.S.-Iran conflict is not the only reason behind the Bitcoin price drop. Stablecoins, which are often called the cash of the crypto market, have seen a shrink in the cash flow. 

Since 2020, Bitcoin has gained an average of 5.2% in 30 days and 18.9% in 90 days when the stablecoin supply was growing. But when the supply shrank, those gains dropped to 1.1% and 8.4%

Since its $321 billion peak, stablecoin supply has fallen about 4.4%. During the 2022-23 bear market, stablecoin supply dropped 34%, while Bitcoin lost 43%.

For now, the drop is much smaller than in 2022, and trading is slowly improving. But if stablecoin supply keeps falling, Bitcoin could see more selling and further price declines.

Bitcoin Will Drop To $56.5KAnalyzing the recent market conditions, well-known crypto analyst Ali Martinez said Bitcoin is still trading inside a descending channel on the four-hour chart after facing rejection near the upper resistance around $63,600.

He says that, if selling pressure continues, “Bitcoin could trigger a pullback toward $59,700, with $56,550 as the next downside target.”

Bitcoin $BTC is getting rejected at the top of its channel.

This could trigger a pullback toward $59,700, with $56,550 as the next downside target. pic.twitter.com/GvI9fMFQbD

— Ali Charts (@alicharts) July 8, 2026 However, if Bitcoin reclaims $63,600 with strong buying volume, it could invalidate the bearish setup and signal the start of a bullish move.

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Ethereum ETF Launch Talk Moves Into Final Stretch As Issuers Update Filings

Ethereum mainnet is rarely described as cheap, but 1 gwei gas changes the tone. For users who have spent years avoiding mainnet transactions because of cost, this kind of fee environment creates a very different experience.

The useful way to read this is not as a guaranteed price signal, but as a fresh piece of information in a market that is trying to sort real developments from noise. The trade-off is that low fees also reduce the amount of ETH burned through the fee mechanism. For investors who care about Ethereum’s monetary narrative, that matters. Cheap usage is positive for adoption, but it can soften the burn story if network demand remains low.

For more details, visit the official Etherscan platform.

TL;DR Ethereum gas fees have fallen toward 1 gwei.Lower fees make mainnet DeFi and wallet activity more accessible.The downside is that reduced base fees also mean less ETH is burned through transaction activity. Cheap fees cut both ways Lower gas fees are good for users. Swaps, transfers, NFT interactions, and DeFi management become easier to justify when the cost of pressing a button is no longer painful. That can bring some activity back to mainnet, especially for smaller wallets.

The trade-off is that low fees also reduce the amount of ETH burned through the fee mechanism. For investors who care about Ethereum’s monetary narrative, that matters. Cheap usage is positive for adoption, but it can soften the burn story if network demand remains low.

The Market Read Use Etherscan as the data anchor and explain the burn trade-off clearly.

That is the balance readers need to keep in mind. Crypto markets are quick to turn every update into a single-direction trade, but most durable stories are more layered than that. They matter because they change positioning, incentives, infrastructure, or regulation over time.

What Comes Into Focus Now From here, the important thing is follow-through. If the source data, company update, filing, or on-chain record continues to move in the same direction, this can become part of a larger trend. If it stalls, it is still useful as a snapshot of where attention is sitting today.

For traders and readers, the cleaner takeaway is to separate the confirmed development from the speculation around it. The confirmed part is what deserves coverage. The speculation is what needs caution.

For Ethereum readers specifically, the story is useful because it gives a clearer frame for the next few sessions. It tells them what to watch, which part of the market is reacting, and where the first obvious risk sits. That is more valuable than simply saying a token, company, or regulator has made a move. The useful work is in connecting the update to liquidity, positioning, adoption, enforcement, or user behaviour without pretending that any single headline controls the whole market.

The practical question now is whether this remains an isolated update or becomes part of a chain of follow-through. A second filing, another wallet move, fresh dashboard data, a new governance vote, or a stronger market reaction can all turn a clean single-day story into a broader narrative. Without that follow-through, it still matters, but more as a marker of where attention was concentrated on July 8 than as a complete trend on its own.

That distinction is especially important in a market where headlines can travel faster than context. A source-backed update gives readers something firmer to work with, but it does not remove liquidity risk, execution risk, or the chance that traders fade the initial reaction once the first wave of attention passes.

In that sense, the headline is only the starting point. The better read is to watch how builders, exchanges, funds, wallets, regulators, or large holders respond after the first announcement has moved through the feed.

This report is based on information from etherscan.io.

This article was written by the News Desk and edited by Samuel Rae.

Crypto Attacks Climbed 50% in 2026 While Stolen Sums Shrank

Aave’s GHO stablecoin has always needed distribution to matter. The DAO’s approval of a native Arbitrum deployment is a step in that direction, giving the asset a clearer path into one of Ethereum’s busiest scaling ecosystems.

The useful way to read this is not as a guaranteed price signal, but as a fresh piece of information in a market that is trying to sort real developments from noise. The proposal also shows how mature DeFi projects are thinking about expansion now. It is less about launching a token and more about placing that token into the right liquidity venues with the right technical rails.

For more details, visit the official Governance platform.

TL;DR Aave DAO approved a proposal to deploy GHO natively on Arbitrum.The plan expands GHO beyond its original environment and deepens Aave’s stablecoin strategy.The move shows DeFi protocols are still trying to solve cross-chain liquidity and distribution. Why Arbitrum matters for GHO Stablecoins live or die on usefulness. If GHO is going to compete for real DeFi activity, it needs to be available where borrowing, lending, and trading already happen. Arbitrum gives it access to a deeper layer-2 user base and more places where liquidity can circulate.

The proposal also shows how mature DeFi projects are thinking about expansion now. It is less about launching a token and more about placing that token into the right liquidity venues with the right technical rails.

The Market Read Explain the Chainlink CCIP role without making it too technical.

That is the balance readers need to keep in mind. Crypto markets are quick to turn every update into a single-direction trade, but most durable stories are more layered than that. They matter because they change positioning, incentives, infrastructure, or regulation over time.

What Comes Into Focus Now From here, the important thing is follow-through. If the source data, company update, filing, or on-chain record continues to move in the same direction, this can become part of a larger trend. If it stalls, it is still useful as a snapshot of where attention is sitting today.

For traders and readers, the cleaner takeaway is to separate the confirmed development from the speculation around it. The confirmed part is what deserves coverage. The speculation is what needs caution.

For DeFi readers specifically, the story is useful because it gives a clearer frame for the next few sessions. It tells them what to watch, which part of the market is reacting, and where the first obvious risk sits. That is more valuable than simply saying a token, company, or regulator has made a move. The useful work is in connecting the update to liquidity, positioning, adoption, enforcement, or user behaviour without pretending that any single headline controls the whole market.

The practical question now is whether this remains an isolated update or becomes part of a chain of follow-through. A second filing, another wallet move, fresh dashboard data, a new governance vote, or a stronger market reaction can all turn a clean single-day story into a broader narrative. Without that follow-through, it still matters, but more as a marker of where attention was concentrated on July 8 than as a complete trend on its own.

That distinction is especially important in a market where headlines can travel faster than context. A source-backed update gives readers something firmer to work with, but it does not remove liquidity risk, execution risk, or the chance that traders fade the initial reaction once the first wave of attention passes.

In that sense, the headline is only the starting point. The better read is to watch how builders, exchanges, funds, wallets, regulators, or large holders respond after the first announcement has moved through the feed.

This report is based on information from governance.aave.com.

This article was written by the News Desk and edited by Samuel Rae.

Bitmine acquired another 40,000 ETH worth approximately $71.6 million, according to blockchain analytics firm Lookonchain, bringing its total Ethereum treasury to nearly 5% of the token’s circulating supply. 

The transactions were traced through Arkham Intelligence to hot wallets operated by FalconX and Kraken. While the company has not publicly confirmed the July 8 purchase, it has continued releasing weekly updates on its accumulation strategy.

$11.1 Billion in Crypto Assets and Growing The latest on-chain activity follows Bitmine’s disclosure that it purchased 42,197 ETH between June 29 and July 3, raising its total treasury to 5,742,237 ETH. The company reported crypto assets and cash valued at $11.1 billion as of June 28 and stated those holdings account for about 4.8% of Ethereum’s circulating supply. 

That figure places the company within reach of its stated goal of controlling 5% of the network’s total available tokens. Its Ethereum reserves, approximately 4,879,157 ETH, or roughly 85%, have been delegated to staking through MAVAN, the company’s Made in America Validator Network. 

Earlier disclosures estimated the staked portion could generate about $235 million in annual rewards. That yield stream distinguishes Bitmine’s approach from a pure accumulation play and provides the company with a recurring on-chain income stream that Bitcoin’s proof-of-work architecture cannot replicate.

Tom Lee Points to Real-World Ethereum Adoption Bitmine Chairman Tom Lee has maintained a positive long-term outlook on Ethereum in recent public statements. Lee cited a Layer 2 network processing USDC payments for Shopify and Visa as evidence of growing real-world adoption of the Ethereum ecosystem. 

He also pointed to rising odds on prediction market Polymarket for the Clarity Act’s passage this year, suggesting that regulatory progress could provide additional tailwinds for the network. The accumulation strategy directly mirrors the playbook that MicroStrategy, now rebranded as Strategy, used to build a dominant corporate Bitcoin treasury. 

Bitmine is applying the same concentrated-bet logic to Ethereum, but the staking yield adds a dimension that Strategy’s Bitcoin position lacks. Whether public markets will assign a similar premium to a yield-bearing ETH treasury remains the central question for investors in BMNR stock.

Stock Drops 4.8% Despite Russell 1000 Entry Bitmine shares fell 4.8% to close at $14.80 on the same day the latest purchase surfaced. The decline came less than two weeks after the company joined the Russell 1000 Index on June 26, a milestone that Lee previously said could attract a larger base of institutional shareholders.

Ethereum itself traded around $1,752 at the time of the purchase, still well below its all-time high of $4,950 reached in August 2025.

Bitmine is scheduled to report financial results for the April through June 2026 quarter on July 29. Wall Street analysts expect quarterly revenue of about $45 million. The earnings report will offer the first detailed look at how the company’s rapidly expanding treasury and staking operations are translating into reported financial performance.

Hoskinson Accuses Ethereum of Lifting Cardano's ArchitectureCharles Hoskinson, founder of Cardano, has accused Ethereum of attempting to replicate Cardano's Extended UTXO (EUTXO) model while refusing to credit its origins. He described EUTXO as the biggest innovation in smart contracts and claimed it is "a crime in the Ethereum inner circles to mention Cardano." Hoskinson says he has spent more than a decade developing the model and argues it has already been proven at scale.

The comments came in response to a proposal published by Ethereum Foundation researcher Toni Wahrstätter that explores bringing native UTXOs to Ethereum. Under Ethereum's current account-based model, receiving a payment adds state permanently: the first time an address receives $ETH, it gets a permanent account leaf, and the first time it holds an ERC-20, a permanent storage slot. Wahrstätter's proposal looks to address that by introducing a Bitcoin-style approach to payments on Ethereum.

What Is EUTXO and Why Does It Matter?Cardano is a UTXO-based blockchain that implements an Extended Unspent Transaction Output (EUTXO) model, introduced by the Alonzo upgrade to support multi-assets and smart contracts. The model extends the base UTXO design so that addresses can contain arbitrary scripted logic, enabling full smart contract functionality. The success or failure of transaction validation depends only on the transaction itself and its inputs, and not on anything else on the blockchain. As a consequence, the validity of a transaction can be checked off-chain, before it is sent to the blockchain.

EUTXO potentially permits multiple transactions to process simultaneously, significantly boosting scalability, because transactions only depend on their inputs and can, in principle, validate in parallel without interfering with each other. These properties stand in contrast to Ethereum's account-based system, where assets reside in accounts and the state of the blockchain can change during transaction validation.

Hoskinson's claims arrive at a moment of significant architectural debate within Ethereum. Vitalik Buterin gave a fresh overview of Ethereum's long-term direction and highlighted a proposal to bring Bitcoin-style UTXOs to Ethereum. Whether Ethereum's renewed interest in UTXO-based design constitutes convergence, inspiration, or outright copying remains a matter of dispute, but the debate has reignited long-standing tensions between the two ecosystems.

Sources:
Native UTXOs on Ethereum, Ethereum Research
Extended UTXO Model, Cardano Docs
Cardano's EUTXO Model, Input Output (IOHK)

Cover image via U.Today Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.

Ethereum Foundation developers are looking for a way to save the network from the critical growth of its database and have turned to the architecture of its main competitor. Researcher Toni Wahrstätter proposed introducing elements of the UTXO model into Ethereum, a model that has been successfully used by Cardano for years.

Amid this, Cardano founder Charles Hoskinson — a former Ethereum co-founder who left the project in 2014 after a public split over deep disagreements with Vitalik Buterin about the network's commercial direction — accused his former colleagues of hypocrisy.

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Ethereum's problem lies in its account-based model, as the network is forced to permanently store active data on the balance of every wallet, even if the transfer was a one-time transaction. As part of the EIP-8141 standard, Frame Transactions, Wahrstätter proposed making simple payments "one-time use."

Information about them would be verified from the blockchain's history, while only a single spent bit would remain in active memory. According to the author's calculations, this would reduce unnecessary data growth by 99.8% for basic L1 transfers. 

The idea has already entered the Strawman discussion track, which Vitalik Buterin himself is following.

Why Cardano's founder is furiousFor Hoskinson, whose Cardano blockchain was originally built on a modified Extended UTXO model, or eUTXO, specifically to solve the scaling problem, this news became a trigger. He reacted emotionally to the initiative on X, stating that there is an unspoken taboo inside the Ethereum ecosystem against recognizing his contributions.

The main irony of this dispute is technical. The UTXO model itself belongs to Bitcoin, but its network has no smart contracts — it is simply a wallet system. Cardano, however, took this mechanism as its foundation from the beginning and expanded it into eUTXO in order to run complex applications.

It's not like I've been literally working on this topic for over 10 years of my life and launched a cryptocurrency that was number three on coinmarketcap with millions of users to deploy it. It's literally a crime in the Ethereum inner circles to mention Cardano. EUTXO is the… https://t.co/3F3l6cg0JE

— Charles Hoskinson (@IOHK_Charles) July 7, 2026 Ethereum has always operated on the opposite, account-oriented system. Now that its researchers are proposing to introduce UTXO elements to save memory, this looks like an acknowledgment of someone else's technological solutions. 

In practice, however, combining two different models is difficult, as it creates compatibility risks for already functioning DeFi applications.

As a result, Ethereum now faces a choice: continue tolerating the growth of its database or implement a hybrid workaround, effectively confirming the correctness of Hoskinson's approach.

Developers within the Ethereum Foundation are exploring a new approach to slow down the rapid growth of data on the network. Researcher Toni Wahrstatter has suggested integrating certain elements of the UTXO (Unspent Transaction Output) model into Ethereum. This concept mirrors aspects of the architecture that Cardano has successfully used for years.

Reducing data load is at the core of the proposalThe main challenge Ethereum faces stems from its account-based structure, which requires every wallet’s balance to be persistently stored as active data. Even when a transaction occurs only once, these records continue to occupy space on the blockchain’s memory. Through Ethereum Improvement Proposal (EIP) 8141, Wahrstatter has introduced the idea of ‘Frame Transactions’ that would make simple payments single-use.

Under this system, transaction details would be validated from historical blockchain records only when needed. In active memory, a single bit would indicate whether a transaction output has been spent. Wahrstatter estimates that this framework could reduce unnecessary data growth from basic transfers on Ethereum’s base layer by as much as 99.8%.

Mini glossary: UTXO stands for unspent transaction output, a model where each new payment consumes a previous unspent output. eUTXO is an extended version, adapted by Cardano to allow for more advanced features like smart contracts.

Wahrstatter’s proposal aims to make simple payments single-use, which he believes would cut data growth on the base layer by 99.8%.

The proposal has entered the initial “Strawman” discussion phase within the Ethereum community, with Vitalik Buterin among those following the developments. However, implementing such a change would require not only a technical assessment but also a thorough evaluation for compatibility with existing applications.

Hoskinson criticizes with accusations of hypocrisyCharles Hoskinson, founder of Cardano, responded sharply to these developments. Hoskinson parted ways with Ethereum in 2014 following disagreements with Vitalik Buterin, particularly regarding the network’s commercial direction and long-term architectural roadmap.

Hoskinson believes that within the Ethereum ecosystem, there remains an unspoken taboo against acknowledging his contributions.

For Hoskinson, this debate is not just technical but also symbolic. From day one, Cardano was designed around the Extended UTXO—eUTXO—model to address scaling challenges. Ethereum, on the other hand, has long championed the account-based system as the opposite approach.

Technical overlaps raise new risksThe UTXO model is historically associated with Bitcoin, which operates mainly as a value transfer system with limited capacity for smart contracts. Cardano extended the same logic to create a more flexible infrastructure for complex applications.

Ethereum researchers now considering features inspired by this model to tackle memory constraints is, in some quarters, seen as indirect validation of solutions pioneered elsewhere. Still, merging two disparate architectures is no small feat. Such a hybrid approach could create compatibility risks for the many DeFi applications currently operating on Ethereum.

This means Ethereum now faces two main options: either continue to manage its growing database as is, or pursue a hybrid solution involving a more radical architectural shift.

Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.

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Tether burned 2.5 billion USDT on the Ethereum network, marking one of the largest stablecoin supply reductions in recent months. According to CryptoQuant data, this was the largest single-day Ethereum-based USDT burn since the 3.5 billion USDT burn on February 10th.

Another notable development in the market was the sharp drop in USDT balances flowing in and out of Binance via the Tron network. According to the data, the USDT balance circulating through Binance’s Tron channel fell to approximately $860 million.

This level is the lowest recorded since the $391 million low seen on December 29, 2025. It also marks the first time in a long time that the balance has fallen below $1 billion.

Analysts note that Tether’s large-scale burn on Ethereum should not be interpreted as a direct signal regarding market direction.

Stablecoin issuers typically conduct such operations for purposes such as investor repayments, treasury management, reserve optimization, or cross-chain liquidity balancing. Therefore, the burning data alone may not necessarily indicate an expected rise or fall in the market.

However, it is noted that the decrease in the USDT supply on Ethereum and the simultaneous contraction of USDT liquidity in Binance’s Tron channel should be considered together. According to experts, the simultaneous occurrence of these two developments could send important signals, especially regarding exchange-based stablecoin flows and cross-chain liquidity distribution.

In the cryptocurrency market, stablecoin movements are closely watched as they offer important clues about investor behavior, exchange liquidity, and overall risk appetite. These recent developments involving Tether have also caught the attention of market participants.

*This is not investment advice.

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Ethereum is slipping by more than 2% as massive $2.5 billion USDT burn on Ethereum dragged its price prediction down. Although ETH barely flinched, as traders believe the burn looks more like Tether moving liquidity than an exit.

Large redemptions often reflect supply shifting between networks instead of cash leaving crypto altogether. Trading volume stayed around $10 billion, showing buyers and sellers kept business humming.

CryptoQuant: Tether Burns $2.5 Billion USDT on Ethereum, Largest Since February

According to CryptoQuant, Tether burned $2.5 billion worth of USDT on the Ethereum network on July 7, marking its largest single burn since February 2026. Meanwhile, Binance’s USDT balance on the… pic.twitter.com/ymtNXGqpjQ

— Wu Blockchain (@WuBlockchain) July 8, 2026 Even so, Ethereum has held onto much of its recent recovery. The token remains roughly 10% higher than a week ago despite today’s pullback. That suggests traders are taking profits without triggering the kind of panic that usually sends charts into freefall.

Attention now shifts to upcoming U.S. inflation and policy updates, which could spark the market’s next move. Until then, Ethereum may keep drifting inside its current range. Traders seem content to wait, even if the blockchain never really sleeps.

Discover: The Best Token Presales

Can Ethereum Price Hit $1,850 This Week?Ethereum is trading around $1,730 after losing momentum from its recent rebound. The latest pullback has pushed price below the previous support zone, putting sellers back in control. Bulls have some work to do before anyone starts talking about a comeback.

The first support now sits around $1,700. If that level fails, Ethereum could slide toward $1,620, with $1,530 as the next major downside target. Catching a falling knife sounds exciting until you remember who usually gets cut.

Meanwhile, resistance has shifted lower to the $1,750 to $1,770 area. Ethereum needs to reclaim that zone before traders can target $1,845 and $1,865 again. A stronger recovery could eventually bring $1,975 into view, but that remains a stretch for now.

The base case is continued choppy trading while investors wait for fresh macro catalysts. However, a sustained move back above $1,770 would improve the technical picture. Until then, the bears have the upper hand, even if they still can’t resist taking a victory lap too early.

Discover: The Best Crypto to Diversify Your Portfolio

LiquidChain Targets Early Mover Upside as Ethereum Tests Key LevelsETH at $1,750 is a recovery, not a breakout. Traders positioned since the $1,500 low are sitting on 10% gains, but the $1,865 resistance wall means meaningful additional upside requires a macro catalyst that isn’t confirmed yet. For capital looking for asymmetric exposure without waiting on the next Fed print, early-stage infrastructure plays carry a different risk-reward profile entirely.

LiquidChain ($LIQUID) is a Layer 3 infrastructure project positioning itself as a unified cross-chain execution environment, fusing Bitcoin, Ethereum, and Solana liquidity into a single layer.

The architecture (Unified Liquidity Layer, Single-Step Execution, Verifiable Settlement, Deploy-Once) targets the fragmentation problem that makes cross-chain development genuinely painful.

As of today, the presale is currently priced at $0.01477, with $890K raised. Recent coverage has tracked its trajectory toward the $900,000 milestone.

Research LiquidChain before making any allocation decision.

Don’t Miss Out on Our $1,000 USDT Airdrop on ByBit

The Bitcoin price keeps stalling, and one overlooked force helps explain it. The stablecoins that fund crypto buying are both shrinking and moving less, the same setup that preceded Bitcoin’s 2022 crash.

Data from DeFiLlama and Dune shows the market’s cash pile draining just when buyers are needed most. On its own, that is a headwind. Pushed far enough, it has been a trigger.

How a Thinner Cash Pile Slows BitcoinStablecoins are the cash of crypto. Traders park dollars in USDT and USDC, then use them to buy Bitcoin and other coins. When that pool grows, more money stands ready to buy. When it shrinks, buying power drains away.

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The record shows the drag. Since 2020, when the stablecoin supply was expanding, the Bitcoin price averaged a +5.2% gain over the next 30 days and +18.9% over 90 days. When supply was contracting, those gains shrank to +1.1% and +8.4%.

Bitcoin Returns by Stablecoin Regime: BeInCryptoBoth figures are still positive, so a shrinking pool does not spark an instant crash. It acts as a slow drag that takes weeks to bite, muting Bitcoin’s gains rather than erasing them. In short, Bitcoin still climbs when stablecoins shrink, just far weaker.

Those are averages, though, and averages hide the worst cases. When the drain runs deep and long, the drag turns into something far more dangerous.

When the Drain Ran Deep, BTC CrashedThat is what happened in one of the previous bear markets. Stablecoin supply fell 34% between April 2022 and August 2023, a slow, grinding drain, and the Bitcoin price collapsed 43% over the same stretch.

STABLECOIN MARKET POSTS BIGGEST DROP SINCE TERRA COLLAPSE

The stablecoin market shrank 2.4% ($7.7 billion) to $312 billion in June, marking its biggest monthly decline since the 2022 TerraUSD collapse.

The drop came alongside an 18% fall in Bitcoin and several stablecoin…

— *Walter Bloomberg (@DeItaone) July 7, 2026 A mild squeeze had become a full liquidity drought.

Stablecoin Supply vs Bitcoin Price: BeInCryptoToday the same pattern is forming, so far in milder form. Total stablecoin supply has slipped about 4.4% from its $321 billion peak in May, and Bitcoin has fallen roughly 19% alongside it. The scale is smaller than 2022, but the direction is identical.

Stablecoin Market Cap: DeFiLlamaThe real question is whether this drain deepens. To judge that, it helps to look past how many stablecoins exist and watch how fast they are actually moving.

Stablecoins Are Also Moving LessUsage is cooling too. On-chain data shows monthly USDT and USDC transfer volume on Ethereum peaked near $2.84 trillion in March, then fell about 47% to $1.5 trillion by May before a partial rebound in June.

The two do not track tick for tick. Bitcoin actually firmed in April and May before its June slide, so this is a backdrop, not a trigger. Still, fewer dollars changing hands means thinner demand, and the Bitcoin price now sits near $63,000, well below its January highs above $90,000.

On-Chain Stablecoin Volume vs Bitcoin Price: BeInCryptoFor now, the squeeze looks more like 2022’s opening act than its full drought. The supply dip is shallow, and volume is trying to recover.

The pattern cuts both ways, though. If stablecoin supply and volume keep sliding, Bitcoin’s headwind could harden into the kind of drain that turned 2022 ugly. A clear turn back up would be the first sign the cash, and the buyers, are coming back.

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Ethereum's grip on DeFi remains unmatched@ethereum continues to dominate decentralized finance in a way no rival chain has come close to replicating. According to @DefiLlama, Ethereum holds 53.1% of total DeFi TVL at roughly $38 to $40 billion, placing it ahead of every other chain combined. That lead has compressed over time, but the gap in absolute terms remains enormous.

Ethereum's DeFi TVL share fell from 63.5% to around 53% between January 2025 and mid-2026, as rival networks steadily captured more liquidity. Lower-cost networks continued drawing traders and developers seeking faster transaction speeds and cheaper execution. Even so, in absolute terms, Ethereum still commands the largest DeFi stack on any single chain, though competing blockchains have been absorbing capital at a faster rate, diversifying DeFi's liquidity footprint.

One important nuance worth noting: much of what is built for Ethereum, including Base, Arbitrum, and Optimism, settles to Ethereum but registers as a separate chain in DeFi analytics dashboards. If layer-2 TVL were consolidated under the Ethereum umbrella, the network's effective share would be substantially higher.

A four-way scrap for second placeBehind Ethereum, the competition for the runner-up spot is remarkably tight. According to DefiLlama's chain rankings, Solana holds around 6.76% of total DeFi TVL, followed closely by @BNBCHAIN at 6.55%, Bitcoin at 6.16%, @trondao at 6.01%, and @base at 5.31%. In dollar terms, that puts @solana, @BNBCHAIN, @trondao, and @base all packed between approximately $4.4 billion and $5.1 billion, effectively in a dead heat.

Each chain has carved out a distinct niche. BNB Chain dominates DEX flow, Tron leads stablecoin settlement, and purpose-built venues like Hyperliquid control perpetuals. Solana shows the strongest momentum through user numbers and activity, but Ethereum's network effects, security track record, and institutional liquidity create a high bar that no single competitor has cleared yet.

Bitcoin-native DeFi tells a more complicated story this week. Despite $BTC posting a 10% price gain over seven days, its DeFi TVL moved in the opposite direction, falling roughly 10%. That divergence highlights a persistent challenge for Bitcoin-native DeFi: capital flows to Bitcoin for yield, not active trading, and the BTCFi model centers on collateral use and lending protocols rather than exchange activity. A rising $BTC price can actually reduce dollar-denominated TVL if users withdraw collateral to take profits rather than redeploy it.

Current market trends suggest DeFi no longer revolves around a single blockchain. Competing ecosystems now focus on specialized sectors, including stablecoin transfers, perpetual trading, consumer applications, and Bitcoin-backed finance. Ethereum remains the anchor, but the multi-chain reality is becoming harder to ignore.

Sources:
DefiLlama Chain Rankings by TVL
CoinLaw: DeFi Market Statistics 2026
Bitcoin.com News: Ethereum DeFi TVL Dominance Drops to 53%