Arizona is breaking the mold again with an interesting approach, at least for XRP Ripple holders. While other states are tentatively exploring Bitcoin, a bold proposal in the Grand Canyon State aims to establish a digital asset reserve fund that specifically includes XRP and DigiByte.
Supported by several lawmakers, the proposal aims to broaden the state’s holdings beyond a single dominant asset. Rather than converting these assets into dollars right away, the state would retain them with the expectation that they may provide long-term value or practical use.
The move reflects a shift in how some state governments view digital assets, considering their potential functionality alongside their role as a store of value.
XRP Price Analysis Source: TradingView DISCOVER: Next 1000X Crypto: 10+ Crypto Tokens That Can Hit 1000x in 2026
Arizona Choses XRP and DigiByte As Approved Assets Most government crypto bills follow a simple script: buy Bitcoin, hold Bitcoin. The Arizona proposal takes a different approach by expanding the range of approved assets. The legislation allows the state to hold specific digital assets, explicitly naming assets like XRP and DigiByte, in a Strategic Digital Asset Reserve.
This builds on the momentum of Arizona’s push for a Bitcoin reserve, but adds a layer of complexity by validating altcoins. The focus is often on modernizing how the state handles unclaimed property and seized assets. Rather than converting everything to inflationary fiat currency, the state keeps the asset.
XRP added to Arizona digital reserve bill. After a 4–2 committee vote, the Arizona State Legislature advanced a bill that adds $XRP as an eligible asset in the proposed Digital Assets Strategic Reserve Fund 😁 pic.twitter.com/qcDUXPeyDP
— XRPcryptowolf (@XRPcryptowolf) February 22, 2026
Why these two? It likely comes down to utility. XRP’s strategy for institutional settlement makes it a logical fit for government finance, which relies heavily on cross-border efficiency. We are already seeing major financial players move in this direction, such as Société Générale launching stablecoins on the XRP Ledger.
And DigiByte? As a decentralized, secure blockchain known for speed, legislators are probably showing they aren’t just looking at market cap. They are looking at technical merit.
DISCOVER: 16+ New and Upcoming Binance Listings in 2026
How the Reserve Actually Works An interesting part of this legislation is the funding mechanism. The reserve is largely funded by assets the state already ends up with. This includes unclaimed digital property and potentially assets seized in criminal forfeitures. Under the proposal, the State Treasurer has the authority to hold these assets rather than liquidate them.
Is it risky? Sure. Crypto is volatile. But supporters argue that holding these assets is a fiduciary duty to protect against inflation. Essentially, diversifying the state’s portfolio so it isn’t 100% exposed to the declining dollar. With strict custody standards in place, it’s less like gambling and more like modernizing the state’s savings account.
We will be watching to see if Governor Hobbs signs off on expanding these definitions further in the coming session. If Arizona succeeds here, expect other states to start adding altcoins to their balance sheets soon.
DISCOVER: Best New Cryptocurrencies to Invest in 2026
Follow 99Bitcoins on X For the Latest Market Updates and Subscribe on YouTube For Daily Expert Market Analysis.
#Altcoin News Today
Why you can trust 99Bitcoins
10+ Years
Established in 2013, 99Bitcoin’s team members have been crypto experts since Bitcoin’s Early days.
90hr+
Weekly Research
100k+
Monthly readers
50+
Expert contributors
2000+
Crypto Projects Reviewed
Follow 99Bitcoins on your Google News Feed
Get the latest updates, trends, and insights delivered straight to your fingertips. Subscribe now!
Subscribe now
Akiyama Felix
Crypto Journalist
Felix Akiyama is a True Veteran, Originating From the Crypto Class of 2018. A former visual effect artist turned to onchain degen and Vitalik Loving ETH maxi. Felix is notable in the VFX world for being one of the few... Read More
Free Bitcoin Crash Course Enjoyed by over 100,000 students. One email a day, 7 days in a row. Short and educational, guaranteed!
TLDRBitcoin and the Arizona Crypto Reserve StrategyXRP and DigiByte Included in Eligible AssetsGet 3 Free Stock Ebooks Arizona lawmakers advanced Senate Bill 1649 to create a state-managed crypto reserve funded by seized digital assets. The Senate Finance Committee approved the bill in a 4 to 2 vote before sending it to the full Senate calendar. The proposed fund would hold Bitcoin, XRP, DigiByte stablecoins, and certain NFTs obtained through criminal proceedings. The Arizona State Treasurer could invest up to 10 percent of public funds in digital assets under the measure. Arizona lawmakers are advancing Senate Bill 1649 to create a state-managed digital asset reserve. The proposal would place seized cryptocurrencies under the control of the State Treasurer. The measure now awaits a full Senate vote after clearing two key committees.
The Senate Finance Committee approved SB 1649 in a 4–2 vote on February 16. Lawmakers then moved the bill through the Rules Committee and placed it on the full Senate calendar by February 24. The proposal authorizes the Arizona State Treasurer to establish a Digital Assets Strategic Reserve Fund.
The fund would hold digital assets that courts seize, confiscate, or receive through surrender in criminal cases. Lawmakers state that the fund would not rely on direct taxpayer appropriations. However, the Treasurer could invest up to 10% of public funds in digital assets under the bill.
Bitcoin and the Arizona Crypto Reserve Strategy The legislation lists Bitcoin as an eligible asset for the proposed reserve. Lawmakers cited Bitcoin’s fixed supply of 21 million coins in committee discussions. Supporters argue that this cap supports its use as a hedge against inflation.
NEW: 🇺🇸 Arizona advances legislation to create a state digital asset reserve fund from seized crypto.
📜 AZ SB1649 allows the state treasurer to hold, invest, or loan #Bitcoin, $XRP or "any other digital-only assets that confer economic, proprietary or access rights or powers." pic.twitter.com/J0eI7JPi4J
— Bitcoin.com News (@BitcoinNews) March 4, 2026
Senator Mark Finchem supports holding seized Bitcoin instead of auctioning it immediately. He said the state should benefit from potential appreciation rather than sell assets quickly. “The state should capture value for taxpayers,” Finchem said during hearings.
The bill permits the Treasurer to loan digital holdings to generate returns. However, the Treasurer must ensure that lending does not introduce added financial risk. Custody rules require multi-party governance and geographically distributed data centers.
Governor Katie Hobbs has vetoed similar digital asset proposals in the past. She cited volatility as a concern in prior veto letters. SB 1649 must pass the full Senate before it can reach her desk.
XRP and DigiByte Included in Eligible Assets The bill names XRP and DigiByte alongside Bitcoin as approved assets. Lawmakers also included stablecoins and non-fungible tokens within the eligible categories. The measure does not limit holdings to a single blockchain network.
Arizona has built legal frameworks for digital assets over the past year. In May 2025, HB 2749 allowed the state to retain unclaimed digital assets in native form. The law prevented automatic conversion of abandoned crypto into cash.
Separate legislation seeks to exempt cryptocurrency from state property taxes. Lawmakers have also addressed crypto ATM fraud through new compliance rules. Operators must provide full refunds to defrauded first-time customers.
The new ATM rules also cap daily transactions for new users at $2,000. Lawmakers said the cap aims to reduce fraud exposure. The provisions operate independently from SB 1649.
Law enforcement agencies often use forfeiture proceedings to seize digital assets. Victim restitution holds legal priority over agency claims in criminal cases. In crypto matters, victims may claim the actual digital assets taken.
Texas and Connecticut have enacted laws addressing criminal forfeiture of digital assets. South Dakota advanced SB 43 to define cryptocurrency as a seizable asset. New Hampshire remains among seven states pursuing strategic reserve legislation as of early 2026.
SB 1649 now stands on the Arizona Senate calendar for a full floor vote. Lawmakers have not scheduled a final vote date. The bill requires majority approval before it proceeds further in the legislative process.
Crypto markets reach 2019 high; Bitcoin still in charge, XRP and BNB pumping, LTC retreating slowly. Market Wrap Crypto markets have reached their highest level since July 2018 in terms of market capitalization. The momentum has come from Bitcoin hitting another 2019 top, and Ripple’s XRP pumping on a new partnership announcement.
Bitcoin has been grinding higher for the past 24 hours until it topped $9,400 briefly marking its highest price since early May 2018. There is heavy resistance above this and BTC quickly started to retreat back to the $9,200 area where it was trading this time yesterday. According to coinmarketcap.com daily volume dumped 25% in an unnatural looking spike so the figures could be spurious.
Ethereum has been static again and remains at $270 where it was this time yesterday. Without any solid fundamentals ETH remains sluggish and unable to push towards $300. It is still 80 percent down from its all-time high and ‘altseason’ has yet to materialize.
The top ten is a mixed affair during Asian trading today but the top performer is XRP. The Ripple token surged 9 percent after the announcement that the company was partnering with MoneyGram. The deal would involve the deployment of xRapid for cross border transfers using XRP. After topping $0.46 XRP corrected to $0.44 where it currently trades.
An industry defining milestone: together, @MoneyGram and @Ripple are solving the challenges with cross-border payments using the speed and efficiency of #XRP. https://t.co/xIfeJJgSy7
— Brad Garlinghouse (@bgarlinghouse) June 17, 2019
Binance Coin is also doing well today adding 5 percent as the exchange announced that it will issue a number of crypto-pegged tokens on Binance Chain in the coming days, starting with $BTCB, a BEP2 token pegged to $BTC. BSV is up marginally and Litecoin is starting its pullback, dropping 3 percent back towards $130.
The top twenty is also mixed but red is dominating over green as altcoins slide again. NEO and Tezos are dumping 5 percent a piece right now and IOTA and NEM are not far behind dropping 3 percent. Only Cosmos is making anything with 3 percent added on the day.
FOMO: Chainlink Churning Higher Today’s top one hundred top performer is LINK which has cranked 18 percent to hit $2. The fomo is still lingering from the Google Cloud tie up as this altcoin climbs the charts to 24th with a market cap of $700 million. Japan’s Monacoin is also on a roll today adding 15 percent, unsurprisingly most of it on Bitbank in JPY. Zcash is the third most popular altcoin today making 13 percent.
The two usual suspects are at the bottom end of the performance pile, Maximine Coin and Aurora.
Total market cap 24 hours. Coinmarketcap.com Total crypto market cap hit a new 2019 high of $290 billion a few hours ago. The move was driven by BTC and XRP which both pumped within a few hours of each other. Market cap is currently back at $286 billion where it was this time yesterday. BTC is still in the driving seat.
Market Wrap is a section that takes a daily look at the top cryptocurrencies during the current trading session and analyses the best-performing ones, looking for trends and possible fundamentals.
The cryptocurrency market doesn’t appear to be in the best of shape. Most cryptocurrencies are losing large chunks of value in the last 24 hours, and the total market capitalization has dropped with $6 billion in a few days to the current level of $187 B.
The second-largest cryptocurrency, Ethereum, is among the worst-performing altcoins. ETH lost over 7% during the last day, and it’s currently trading at $132. Its latest hard fork, called Istanbul, was released a week ago, but it doesn’t seem to have a positive effect on the price as of yet.
Ripple’s price has been struggling for months, and now it went as low as $0,19 on Bitfinex, before bouncing back to the current level of $0,196. It broke below the strong support level at $0,215 earlier this week, and if it closes below $0,20, the next one will be at $0,185. Last time XRP was under $0,20 was back in 2017 before it skyrocketed to its all-time high of $3,80.
The situation with other major altcoins is not any different. Litecoin is below $40, EOS has lost almost 8%, and it’s at $2,34, and Binance Coin has decreased to $13,08, which is a 10% decline since yesterday. Somewhat unsurprisingly, only one digital asset is green in the top 10, and that’s Tezos. XTZ continues its positive trend as of late surging with 4.5% against BTC and 2% against the dollar.
CryptoMarket. Source: Coin360 As far Bitcoin goes, it’s down with 2.7% to $6,870 on Bitstamp but also tested the $6,800 support level, which managed to keep its stance. If it keeps going down, $6,500 is the next level, and if it reverses, the first resistance is $7,000. With so much blood in the altcoin market, BTC’s dominance is actually increasing, and it has reached 67.2%, after being at 66.4% three days ago.
Total Market Capitalization: $187 B | Bitcoin Market Capitalization: $125 B | Bitcoin Dominance: 67.2%
Major Crypto Headlines The Next Crypto Trend for Exchanges? Coinbase Is Now The Largest Tezos Validator. Tezos is quickly rising as a favorite within the community, and the largest U.S.-based crypto exchange, Coinbase, has become the largest validator for XTZ. People began wondering if this could be the newest trend and if users will be able to choose a specific baker.
You may also like: Market Meltdown: MemeCore Crashes 76% as MIM Breaks Peg to $0.50 Bitcoin (BTC) Dips Below $62K, Ethereum (ETH) Plunges 6% Daily: Market Watch XRP’s Price Could Explode to $8, But This One Zone Is Holding It Back Ready To Explode: Bitcoin Longs Surge 12% To A New ATH, Squeeze Might Crash Bitcoin Price. The number of BTC long positions placed on Bitfinex has reached its all-time high, and it could be related to the following drop. Generally, too many open longs mean that the price of the asset is set to decrease.
Bitmain’s Miner Manufacturing Subsidiary Had $680K In Assets Frozen In a Contract Dispute. One of the largest mining companies, Bitmain, had assets worth $676,000 frozen as ordered by a district court in Shenzhen, China. The decision came after another company, Dongguan Yongjiang Electronics, filed an application for asset protection to dispute a contract with the defendant.
Significant Daily Gainers and Losers Waves (26%) WAVES rises above all other cryptocurrencies in the top 100 with its increase with 26% against the dollar, and it’s currently trading at $0.89. Moreover, it skyrockets with almost 30% against Bitcoin to 12840 SAT. The company recently published an updated explaining how Waves staking works, and it also conducted a Twitter giveaway.
Fetch.ai (12.9%) FET is next on the list, with almost 13% gain against USD. The rise to $0.05 also means that the market cap has reached $34,5 M, and with so many altcoins losing value, FET has broken into the top 100. It surges with 16% against Bitcoin to 765 SAT. The company is set to launch its mainnet today and apparently has attracted severe attention to itself.
Aurora (-27.40%) While red is the predominant color, AOA has taken the lead with its loss of over 27% in the last 24 hours. The current price is $0,0048, and the market cap has plunged to $31,7 M, which actually threatens Aurora’s place in the top 100. Oddly enough, the drop comes a day after the popular crypto exchange, Bithumb, announced a 40,000,000 AOA airdrop event to take place this week.
The crypto market is constantly in flux: brand-new cryptocurrencies regularly appear at the top of the charts, while older coins slowly fade away. While Bitcoin has been a consistent leader, the market is littered with former runners-up.
All it takes is a trip through the historical rankings to see just how transient cryptocurrencies can be. Here’s the top ten cryptocurrencies on August 25th, 2013: just about six years ago.
Via CoinMarketCap Some of these early cryptocurrencies are far more important than they seem, and today’s most popular coins owe a lot to their ancestors. Here’s a few old projects that pioneered some of today’s most popular crypto trends. We’ll start at the very beginning with the digital currencies (and proposed currencies) that preceded Bitcoin.
DigiCash And More: The BitGold To Bitcoin’s Gold Bitcoin was released in 2008, but it wasn’t the first digital currency. One of Bitcoin’s most notable precursors is David Chaum’s DigiCash, which was active from 1990 to 1998. DigiCash had cryptographic elements similar to those of Bitcoin, but it lacked Bitcoin’s defining features. Unlike Bitcoin, DigiCash didn’t use a blockchain, and it didn’t rely on mining (aka proof-of-work).
Proof-of-work grew fast, though: in the years leading up to Bitcoin’s 2008 launch, several mining-based digital currencies were suggested. Wei Dai proposed bMoney in 1998, and Nick Szabo proposed BitGold in 2005. Neither of these proposals came to fruition. However, Hashcash, a proof-of-work system dating back to 1997, was eventually used in Bitcoin’s mining scheme.
Advertisement
Bitcoin’s blockchain also has a number of important ancestors. In 1991, Stuart Haber and Scott Stornetta developed an early distributed ledger. It was intended as a timestamping tool, and it took the form of hashes printed in the New York Times. Prior to this, Ralph Merkle invented hash trees, a key part of every blockchain.
Peercoin: An Early Proof-of-Stake Coin In 2012, Sunny King and Scott Nadal created Peercoin, the first cryptocurrency with a proof-of-stake consensus mechanism. Peercoin partially relies on mining to create tokens, just like Bitcoin does, but it also distributes tokens to coinholders through its staking model. This provides extra security: Peercoin’s reliance on staking reduced the risk of mining centralization and 51% attacks.
Naturally, Peercoin’s early staking model was extremely basic, and it doesn’t solve the nothing-at-stake problem. In other words, validators have no reason not to behave maliciously.
Newer coins try to solve this problem: NEO and EOS allow stakeholders to vote for just a few trusted validators, for example. Ethereum, meanwhile, plans to keep validators in line with complex incentives and penalties as it transitions towards proof-of-stake.
Colored Coins: Tokenization Before Ethereum Long before Vitalik Buterin dreamed up the word “Ethereum,” simple tokens already existed on Bitcoin. The most elemental forms were “colored coins,” which allow users to represent assets as custom tokens.
Early implementations for Bitcoin-based colored coins began to appear in 2012. More popular implementations appeared later, including EPOBC, Open Assets and Coinprism. The Omni Layer also provides a basis for custom Bitcoin tokens, but it isn’t always considered a colored coin system.
In any case, Bitcoin’s colored coins were quickly overshadowed by Ethereum. Since 2015, over 200,000 tokens have been created on Ethereum’s ERC-20 standard. Ethereum also offers token standards for special assets, such as security tokens and cryptocollectibles. Countless other blockchains, such as Binance Chain, are also aiming to provide similar tokenization features.
Devcoin: Crypto Rewards Before BAT and Steemit Devcoin was created in 2011 as a reward token for developers, artists, and content creators. Although Devcoin is produced through mining, like Bitcoin, it also offers built-in features that facilitate payments to creators. In particular, Devcoin coordinates payments through “receiver files,” which are hosted by creators who release their work under free licenses.
Devcoin is no longer popular, but some of its features can be found in other crypto reward projects. Brave, for example, requires websites to host special files in order to receive Basic Attention Token payouts. Meanwhile, Coil, which relies on XRP and Interledger, requires content creators to edit their web page’s metadata. Steemit is also a popular crypto-based reward platform.
Are Classic Coins Still Relevant? Some of these projects are still active – but they’re not very prominent. In January 2014, there were just 67 cryptocurrencies listed on CoinMarketCap. Peercoin ranked #4, Omni was at #5, and Devcoin was at #19. But now, there are thousands of coins, and competition is brutal: Peercoin currently ranks at #245, Omni is at #750, and Devcoin doesn’t even get a number.
It’s possible that this pattern will repeat itself—perhaps in five years, people will forget about many of today’s most popular cryptocurrencies. But for all the talk about Bitcoin killers and Ethereum killers, today’s market leaders don’t seem to be under threat. Only time will tell whether the top coins can maintain their lead.
Disclosure: This article was edited by Mike Dalton. For more information on how we create and review content, see our Editorial Policy.
DA Davidson Raises Micron’s Price Target to $2,000, Retains Buy Rating
U.S. investment bank DA Davidson released a research note stating that Micron Technology has entered a new phase with one of the best performance visibility in the semiconductor industry, a stark contrast to its past standing in the sector. Driven by another quarter of results that handily exceeded expectations and positive forward guidance, Micron’s stock price surged sharply. These signals indicate that the current memory chip boom cycle is far from over. While the company is ramping up capacity investments (with capital expenditure (CAPEX) projected to hit $10 billion in the fourth quarter of fiscal 2026, which will bring additional supply), management expects the memory market to remain tight on supply and demand at least through 2027. Against this backdrop, DA Davidson reiterated its "Buy" rating on Micron and raised its price target from $1,500 to $2,000, equivalent to a 20x price-to-earnings (P/E) ratio based on the company’s 2026 calendar year expected earnings per share (EPS).
8 minutes ago
Morgan Stanley raises Micron's price target to $1,200, maintains 'Overweight' rating.
Morgan Stanley released a report raising Micron Technology (MU.O)’s price target from $1,050 to $1,200, while maintaining an "Overweight" rating. The investment bank lifted its fiscal 2027 earnings per share (EPS) forecast for the chipmaker by roughly 40% to $168, and upgraded its free cash flow (FCF) projection from $104 billion to $140 billion. Aligning with Micron’s management, the bank holds that AI will push DRAM demand to consistently outpace supply significantly after 2027. Micron’s last fiscal quarter results matched this trend, with both its quarterly performance and outlook showing notable upside potential.
8 minutes ago
US officials: Israel has withdrawn troops from parts of the buffer zone in southern Lebanon.
A U.S. State Department official said Israel has withdrawn from parts of the buffer zone in southern Lebanon, describing the move as a "goodwill gesture" toward the Lebanese government.
8 minutes ago
CBRS trades below IPO price post-earnings: Erases all gains six weeks after listing, two smart money firms net $5.8 million from first-day IPO shorts.
According to Hyperinsight monitoring, Cerebras (CBRS), the AI chip firm previously dubbed "Nvidia’s strongest challenger", saw its stock price fall in stages after reporting its first quarterly results since going public, as negative guidance overshadowed better-than-expected performance. The stock has dropped roughly 22% since the earnings release and officially broke below its IPO price today. On-chain whales are overall bearish. CBRS trades at $184 on the Hyperliquid platform, down 7.7% in 24 hours. Large-scale short positions (million-dollar level) total around $11.62 million, 2.39 times the long positions ($4.87 million). Two major short positions were placed precisely at high levels as early as the IPO day or even before the IPO: - Whale 0xe0ff: Shorted at $284.51 on May 14 with a 3x leveraged position of $6.13 million, generating an unrealized profit of $3.24 million (+104%); - Whale 0x9996: Shorted at $275.92 on May 11 with a 5x leveraged position of $5.48 million, generating an unrealized profit of $2.64 million (+162%). It is learned that both addresses currently hold short positions in both CBRS and SPCX, and have recorded substantial unrealized profits, preferring to place short positions at high levels before or on the day of major stock listings. With the realization of negative earnings news in this round, the combined unrealized profit of the two positions is around $5.88 million. Currently, the average entry price of CBRS short whales is around $275, and the current price is over 30% lower than that. The nearest short liquidation line is at $200.13, about 7% away from the current price.
8 minutes ago
Multiple high-performing domestic public mutual fund products have tightened their purchase restrictions.
E Fund Management announced in its latest filing that the E Fund Information Industry Select Fund, managed by Zheng Xi, has cut its purchase limit to 10,000 yuan. The same purchase limit reduction to 10,000 yuan applies to another fund under his management, E Fund Information Industry Fund, while E Fund Global Growth Select Hybrid Fund (QDII) has lowered its purchase limit to 10 yuan. In addition, Guolianan Preferred Industry Fund, Harvest Tech Innovation Fund, and Principal Performance-Driven Fund have also announced purchase limits or adjustments to their limits recently. Jin Zicai, a fund manager closely watched by the market, imposed additional purchase limits on multiple public offering funds under his management, with the four funds involved cutting their purchase limits to 500 yuan starting June 23. Purchase limits on high-performing funds likely stem from multiple considerations: they can avoid return dilution caused by short-term concentrated subscriptions, and proactive limits during overheated market conditions also send risk warning signals to the market. As the first half of the year draws to a close, such moves have become increasingly frequent. Overall, Wind data shows that since June alone, 19 funds with year-to-date net asset value returns exceeding 90% have suspended large subscriptions or adjusted their purchase caps. (Source: Cailian Press)
8 minutes ago
The US stock market's optical communication sector rises across the board in pre-market trading, with Corning up 9.28%.
According to Bitget market data, the U.S. stock market's optical communication sector saw broad pre-market gains, with MRVL rising 4.99%, LITE up 3.24%, Nokia up 3.11%, Corning up 9.28%, and AXTI up 6.69%.
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.
It is not hyperbole to say that Shiba Inu is experiencing one of the most stable periods in its recent history.
SHIB has entered an exceptionally tight consolidation range around the $0.0000060 level, with price action flattening and volatility significantly compressing following months of continuous downtrend and volatility spikes.
Technically speaking, this type of structure is uncommon for an asset that has historically been driven by cycles of speculation and hype. The chart clearly demonstrates the exhaustion of selling pressure: the price is hugging short-term moving averages rather than reacting violently to them, lower lows have stopped printing and candles are getting smaller.
HOT Stories
SHIB/USDT Chart by TradingViewEven the RSI, which indicates equilibrium rather than momentum dominance, is stabilizing close to the midrange. This degree of stability is occurring despite comparatively poor liquidity conditions throughout the larger cryptocurrency market.
This is important because volatility is typically increased in low-depth environments, particularly for meme assets. When SHIB compresses rather than expands, it indicates that buyers are not yet strong enough to start a breakout, and aggressive sellers have mostly retreated.
Issue with meme coins like SHIBParticularly for meme coins that mainly rely on narrative and quick price growth to draw attention, low volatility tends to decrease visibility and interest. SHIB does not currently have that speculative fuel.
You Might Also Like
The market is in balance: there is no clear catalyst, no strong trend and no breakout. The current configuration is noteworthy because the final move may become more explosive the longer SHIB stays steady at these levels.
During consolidation stages, liquidity grows quietly. The lack of overhead resistance in the immediate range allows the move to accelerate rapidly once a directional bias emerges, whether from a wider market recovery or a resurgence of meme coin rotation.
Hyperliquid: King of liquidityWith price action now firmly shifting into a sustained uptrend, Hyperliquid is getting close to a crucial technical and narrative turning point. HYPE, which is currently trading close to the mid-$40 range, has made a strong comeback from its early-year lows and is now pushing into a region that was once a significant distribution area.
HYPE/USDT Chart by TradingViewWith the 200-day serving as dynamic support rather than resistance, and the shorter-term averages curling upward, the price has broken above important moving averages. The ascending trendline is still respected, and higher lows and highs continue to form.
Although they are not yet in extreme territory, momentum indicators such as RSI are elevated, indicating strength without immediate exhaustion.
HYPE has been steadily increasing with comparatively controlled pullbacks, in contrast to many altcoins that spike and fade. This type of behavior usually indicates accumulation, as opposed to speculative spikes.
Center of altcoin rallyHyperliquid is becoming a central theme in contemporary altcoin narratives, rather than existing in a vacuum. Building or transferring liquidity into its ecosystem is a major component of high-volatility, high-interest projects.
More significantly, Hyperliquid now accounts for a sizable portion of decentralized trading infrastructure, which inevitably draws capital and users into the token's orbit. A feedback loop is produced as a result: increased activity increases liquidity, which draws in more traders and strengthens price stability and growth.
When you combine this with the fact that a number of well-known cryptocurrency personalities are actively promoting stories about Hyperliquid, you have a unique blend of social momentum and technical strength.
A continuation move driven by both breakout traders and narrative-driven inflows would probably occur if HYPE were able to surpass its prior highs.
Pressure on XRP increasingFollowing months of persistent bearish pressure, XRP is beginning to exhibit early indications of a structural recovery. The 50-day EMA, which has served as a dynamic ceiling since the start of the broader decline, was recently reclaimed by the asset after it broke through its first significant resistance level. This move indicates a change in short-term momentum rather than merely a random spike.
Source: XRPLedgerPrior to the breakout, price action has shifted from a pattern of lower highs into a more neutral structure, with consolidation tightening around the $1.35-$1.40 range. Buyers are starting to challenge overhead resistance rather than being rejected right away, as evidenced by the recent push toward $1.42-$1.43.
In theory, recovering the 50 EMA is frequently the initial stage of a potential trend reversal sequence. It indicates that early-stage accumulation is becoming more popular than persistent selling in the short term. The notion that bullish momentum is developing but has not yet reached an overheated state is supported by the RSI's upward movement into the upper midrange.
Context is important, though. The 100 and 200 EMAs, which continue to slope lower, are still below where XRP is trading. This indicates that the overall trend has not yet reversed. A local breakout is currently taking place within a broader bearish framework. Whether this action has the potential to continue is the crucial question.
The next resistance zone, which is currently where the 100 EMA is located at $1.50-$1.55, can be tested if XRP is able to stay above the recovered EMA and avoid a swift rejection back below $1.38-$1.40.
XRP continues to print bullish signals as momentum begins to shift in favor of the leading cryptocurrency, positioning its price for a big upsurge.
As the broad crypto market begins to show signs of a major recovery, XRP has gained the spotlight amid bullish predictions from market analysts.
XRP to hit $1.60?Popular crypto analyst Ali Martinez has just shared data, pointing to a tightening triangle pattern on the XRP hourly chart, which signals a further upside move for the asset.
HOT Stories
According to Martinez, the pattern printed on the chart could trigger a sharp 10% price move for XRP in the near future.
The analyst spotlighted XRP preparing for a decisive breakout as its price is seen hovering around the $1.42 and $1.43 mark, with immediate resistance levels seen near $1.44 and $1.45.
You Might Also Like
Nonetheless, the chart further showed that support is holding around $1.41, with a stronger base forming closer to $1.39.
With the projected pattern, the analyst believes that a move beyond either boundary could put XRP on the verge of a sharp 10% price swing.
As of the time of writing, XRP is trading around $1.43 with a brief surge of about 0.37%. This means that the potential 10% surge could propel the asset to trade near $1.60 soon.
XRP community not surprisedThe bullish price prediction for XRP did not come as a surprise to the XRP community as many claimed that the asset is obviously set for a big price move which could even see it surge beyond 10%.
Other XRP traders claimed that such a technical setup is merely a routine signal and it requires confirmation with strong trading volume rather than being reactive.
XRP is about to enter a phase known as extreme volatility compression, which traders frequently consider more hazardous than direct selling pressure.
The asset has stopped making significant directional movements and entered a tight consolidation range after losing the crucial $1.32 support level and collapsing toward the $1.10 region. On the surface, that might seem stable, but history indicates that these times are rarely long-lasting.
XRP/USDT Chart by TradingViewThe daily chart displays XRP trading close to $1.14 following a dramatic break from a months-long descending triangle pattern. The asset fell well below its major moving averages due to the breakdown, which also caused a spike in volume.
HOT Stories
However, volatility has quickly decreased since then. Volume has decreased in comparison to the capitulation spike, daily candles have shrunk significantly, and price action has narrowed into a small range. This combination usually indicates that buyers and sellers are temporarily worn out.
The issue is that volatility expansion typically comes after volatility compression. Put another way, the more stable XRP gets, the more probable it is that a significant move is in the works.
You Might Also Like
As of right now, XRP is still below the downward-sloping 50-, 100-, and 200-day moving averages. Therefore, bears are still favored by the technical framework. The 100-day moving average near $1.38 adds another barrier overhead, and the former support zone around $1.32 has now developed into a significant resistance level.
The current low of $1.08 is still the crucial level to keep an eye on on the downside. Another wave of liquidations might occur if sellers push XRP below that support and volatility resumes. On the other hand, after weeks of consistent weakness, a breakout above $1.22 would be the first sign that buyers are taking back control.
Due to the lack of conviction on both sides of the market, the RSI has recovered from oversold territory and is currently in neutral conditions. This neutrality strengthens the notion that XRP is awaiting a catalyst.
Extremely low volatility periods frequently give people a false sense of security. The present calm should not be interpreted as stability for XRP. The market is coiling following a significant breakdown, and the likelihood that the next move will be aggressive increases with the length of time volatility is suppressed.
Cardano pushed to the limitFollowing a violent selloff that drove the asset below a crucial support zone that had been in place since February, Cardano has entered one of its most oversold conditions in months.
Investors are wondering if the market has finally reached a bottom, as ADA is currently trading close to $0.17 after losing nearly 30% of its value in just a few days.
It's still a difficult technical picture. The long-standing support level at $0.24, which had repeatedly stopped deeper declines throughout the spring, was recently breached by ADA. Selling pressure quickly increased after that support failed, setting off a chain reaction of liquidations and panic exits.
ADA/USDT Chart by TradingViewAs a result, there was a sharp decline and a notable increase in trading volume, which is frequently an indication of capitulation.
It's interesting to note that the Relative Strength Index is now extremely oversold. In the past, Cardano seldom stays at such low momentum readings for long. Oversold conditions frequently precede at least a brief relief rally, as sellers start to exhaust themselves, even though they do not by themselves guarantee a reversal.
Stabilization above the recent low around $0.15 would be the first sign that ADA has found recovery ground. Thus far, there has been a slight recovery, as buyers have intervened in that area.
You Might Also Like
The question of whether that bounce can turn into a long-term recovery or just turn into another dead-cat bounce within a broader downtrend is now a crucial test for the market.
The first resistance is located around $0.20, close to the 50-day moving average, should buyers gain momentum. After that, ADA encounters a much bigger obstacle between $0.23 and $0.25, where the previous support area now becomes resistance.
Regaining that area would significantly improve the situation and imply that the recent breakdown was an overreaction rather than the beginning of yet another significant decline.
But bears are still in charge for the time being. The fact that ADA is still trading below its 50-, 100-, and 200-day moving averages indicates that the overall trend is still strongly negative.
XRP's fuel decreasesXRP is about to enter a phase of solid volatility compression, which traders frequently consider more hazardous than direct selling pressure.
The asset has stopped making significant directional movements and entered a tight consolidation range after losing the crucial $1.32 support level and collapsing toward the $1.10 region. On the surface, that might seem stable, but history indicates that these times are rarely long-lasting.
You Might Also Like
The daily chart displays XRP trading close to $1.14 following a dramatic break from a months-long descending triangle pattern. The asset fell well below its major moving averages due to the breakdown, which also caused a spike in volume.
However, volatility has quickly decreased since then. Volume has decreased in comparison to the capitulation spike, daily candles have shrunk significantly, and price action has narrowed into a small range. This combination usually indicates that buyers and sellers are temporarily worn out.
The issue is that volatility expansion typically comes after volatility compression. Put another way, the more stable XRP gets, the more probable it is that a significant move is in the works.
You Might Also Like
As of right now, XRP is still below the downward-sloping 50-, 100-, and 200-day moving averages. Therefore, bears are still favored by the technical framework. The 100-day moving average near $1.38 adds another barrier overhead, and the former support zone around $1.32 has now developed into a significant resistance level.
The current low of $1.08 is still the crucial level to keep an eye on on the downside. Another wave of liquidations might occur if sellers push XRP below that support and volatility resumes. On the other hand, after weeks of consistent weakness, a breakout above $1.22 would be the first sign that buyers are taking back control.
Due to the lack of conviction on both sides of the market, the RSI has recovered from oversold territory and is currently in neutral conditions. This neutrality strengthens the notion that XRP is awaiting a catalyst.
Extremely low volatility periods frequently give people a false sense of security. The calm should not be interpreted as stability for XRP. The market is coiling following a significant breakdown, and the likelihood that the next move will be aggressive increases with the length of time volatility is suppressed.
The crypto market is consolidating after months of bearish price action, with participants navigating an environment defined by geopolitical tension, macro uncertainty, and a price structure that has yet to confirm a clear direction. In this context, top analyst Darkfost has identified a behavioral shift that cuts across the usual boundaries between crypto and traditional finance — and what it reveals about where market participants are directing their attention is worth understanding.
Since Binance launched gold futures trading in January, the platform has recorded more than $100 billion in trading volume. That figure, accumulated in under four months, is not a product success story. It is a behavioral signal. The participants who typically live in Bitcoin, Ethereum, and altcoins have collectively directed nine figures into the world’s oldest safe-haven asset — and the environment driving that demand is the same one currently suppressing crypto prices.
Ongoing tensions between Iran and the United States continue to limit market visibility and sustain demand for assets that hold value through uncertainty. Gold has been the primary beneficiary of that dynamic, posting gains of approximately 210% since October 2023 before the correction that began in late January.
That correction has since brought gold 16.5% below its all-time high. The safe-haven trade has not reversed — it has pulled back. And in markets, 16.5% corrections after 210% rallies tend to attract a specific kind of attention.
$6.6 Billion in a Single Day — and the Demand Has Not Gone Away The volume evolution on Binance’s gold futures tells the story of a market that found its audience faster than almost anyone anticipated. Standard sessions now regularly record between $500 million and $1 billion in trading activity — a baseline that would have been considered extraordinary for a product that did not exist four months ago.
During the February correction and again in late March, that baseline was left behind entirely. Multiple sessions exceeded $3 billion, and on March 23 the platform recorded $6.6 billion in a single day — a figure that reflects institutional-scale participation, not retail curiosity.
Crypto Perp Volume XAU (Binance) | Source: CryptoQuant Darkfost frames the current consolidation in gold’s price as structurally natural rather than structurally concerning. After a 210% rally over two years, a 16.5% correction represents the kind of profit-taking that follows any sustained advance — and the persistence of Binance gold futures volume through that correction suggests the underlying demand has not reversed alongside the price.
The structural advantage Binance introduced is worth naming directly. Traditional gold markets close on weekends. Binance does not. For a market participant whose primary trading environment operates continuously — where geopolitical developments on a Saturday morning can move prices before any traditional venue opens — permanent access to gold exposure is not a convenience. It is a capability that did not previously exist for this audience.
Darkfost’s assessment is that Binance made the right call. The $100 billion in volume and the $6.6 billion single-day record suggest the market agrees.
BTC/XAU Ratio Tests Structural Support After Sharp Breakdown The BTC/XAU ratio is attempting to stabilize after a decisive breakdown that shifted the relative strength balance back in favor of gold. After topping near the 35–37 zone, the ratio entered a sustained downtrend. Losing both its short-term and medium-term moving averages in sequence — a clear signal that Bitcoin has been underperforming gold across this phase of the market.
Bitcoin Gold correlation showing relief | Source: BTC/XAU chart on TradingView The recent move lower into the 13–15 range marked a significant reset. That level aligns with prior consolidation zones from 2023, suggesting the market has returned to a historically relevant demand area. The reaction so far has been constructive but not yet convincing. Price has bounced modestly and is now attempting to reclaim the 17 level, but it remains below the declining 50-week and 100-week moving averages, which continue to act as dynamic resistance.
Volume expanded notably during the selloff, indicating that the move was driven by strong conviction rather than thin liquidity. The subsequent rebound, by contrast, has occurred on lighter participation — a detail that raises questions about its durability.
Structurally, the ratio remains in a corrective phase. A sustained reclaim of the 20–23 region would be required to suggest a shift back toward Bitcoin outperformance. Until then, the trend continues to favor gold.
Featured image from ChatGPT, chart from TradingView.com
During the peak of the 2017 crypto-mania, Litecoin founder Charlie Lee announced that he had sold all of his LTC holdings. Lee, who founded Litecoin in 2011, cited the conflict of interest as the main reason for that move. Despite this explanation, Lee’s decision to sell-off his LTC holdings still does not sit well with so many in the cryptocurrency community. Some still believe he dumped his LTC due to some knowledge that was not divulged to the wider community.
In mid-December 2019, Ethereum co-founder Vitalik Buterin revealed that, under his instruction, the Ethereum Foundation sold 70,000 ETH during the 2017 parabolic bull market. This sale resulted in $100 million liquidity which according to Vitalik, extended the runway for the Ethereum Foundation. Funnily enough, Vitalik admitted this two years later after ETH hit its $1,432 all-time high.
His admission was met with strong criticism with many claiming that it was no different from what Charlie Lee did. In a recent episode of the Magical Crypto Friends podcast, Charlie Lee explains why he thinks his LTC sell-off was different from Ethereum Foundation’s ETH sell-off.
Charlie Lee cited a couple of differences during his discussion with Riccardo Spagni. For starters, he noted that Vitalik only made that revelation two years later. Further quipping that Buterin transferred ETH to an exchange which does not necessarily mean he sold it and he could be trading it.
Secondly, ETH coins were pre-mined for Buterin and for the Ethereum Foundation, which is quite different from Charlie Lee. Another important difference that Lee noted is the Ethereum Foundation’s lack of transparency. He opined:
“The Ethereum Foundation, it’s not very transparent at all, right. As a Foundation kind of centralized, where they pre-mined coins, they should be very transparent about how many coins they’re selling. At least Ripple is pretty transparent about how many XRP they are dumping every month or every year.”
Riccardo Spagni chimed in on the topic of lack of transparency, saying that even ZCash’s reward model is more transparent compared to ethereum’s pre-mine model, adding:
“I mean, you know everything’s suboptimal but certainly like the ZCash crowd has at least tried to make some effort of transparency to their detriment in some instances.”
Charlie Lee also pointed out that the Ethereum Foundation lacks transparency to the extent that the wider community has no idea how it allocates its funds, how much funds it currently owns, its processes and all the people that are part of it.
Currently, Litecoin Foundation has officially started the development of the Mimblewimble privacy protocol. Litecoin Foundation has donated $18,500 worth of cryptocurrency to the dedicated development fund meant to sponsor Grin developer David Burkett. This fund is intended to expand to $72,000.
Although 2019 did not end well for LTC, this year has started on a brighter note. So far this year, LTC has gained over 35 percent over the last few days. It has, however, retraced to $56 at press time amidst a market-wide correction.
Bitcoin price is consolidating above $20,000.Ethereum is struggling near $1,600, XRP is well below $0.35.CEL surged nearly 20%, and RVN is again pumping.Bitcoin price found support near the $20,000 level after a strong decline. BTC is currently (11:10 UTC) consolidating above $20,000. It could start a fresh increase if there is a clear move above $20,800.
Similarly, most major altcoins are consolidating near support zones. ETH is struggling to stay above the $1,600. XRP might decline and test the $0.32 support. ADA is facing resistance near $0.48 and $0.482.
Bitcoin priceAfter a strong decline, bitcoin price found support near the $20,000 zone. BTC remained well bid above the $20,000 zone and recently started a consolidation phase. It managed to correct a few points above the $20,250 level. On the upside, the price is facing resistance near the $20,500 level. The next major resistance is now near the $20,800 level, above which the price could start a decent increase.
On the downside, an initial support is near the $20,050 level. The next major support is near the $20,000 zone, below which the price could start another strong decline.
Ethereum priceEthereum price managed to stay above the $1,550 support zone. ETH started an upside correction and traded above the $1,580 level. It even climbed above $1,600, but it is struggling to gain bullish momentum. The first major resistance is near $1,620. The next major resistance is near $1,650, above which the price may perhaps rise to $1,700.
If not, the price might start another decline towards the $1,550 level. The next major support is $1,500, below which price could gain bearish momentum.
ADA, BNB, SOL, DOGE, and XRP priceCardano (ADA) settled well below the $0.50 level. The price is now struggling to recover above the $0.48 level. If there is no upside break, the price may perhaps decline towards the $0.45 level.
BNB is slowly recovering losses and trading near the $280 level. An immediate resistance is near the $282 level. The first major resistance is near $288, above which the price could rise towards the $300 level.
Solana (SOL) declined over 12% and tested the $32.65 level. It is now trading near $33.50 level. The next major support sits near the $32.50 level. On the upside, the bears might remain active near the $35.00 level.
DOGE is consolidating above the $0.060 level. A downside break and close below the $0.060 level could spark a sharp decline. In the stated case, the price might slide towards the $0.0565 level.
XRP price is consolidating near the $0.335 level. If there are more downsides, the price could slide and test the $0.32 support. The next major support is $0.305.
Other altcoins market todayMany altcoins are down over 10%, including LUNA, USTC, LUNC, HNT, APE, AVAX, EOS, NEAR, FTT, GMT, and ATOM. Out of these, LUNA dived over 30% and traded below the $3.0 level.
To sum up, bitcoin price is consolidating above the $20,000 level. If BTC stays above $20,000, it could recover towards $21,200. If not, it might dive to $18,500.
Ravencoin (RVN) and Lagrange (LA) are the top trending tokens in the market today South Korean exchange, Upbit, listed RVN and announced market support for LA, driving their price growth While the crypto market continues its average performance, some altcoins are showing exceptional growth today. Bitcoin and Ether continue to surf at around $104K and $2.5K price levels, and major altcoins like XRP, Solana, Dogecoin, and BNB also record no significant price surges.
Meanwhile, two altcoins, Ravencoin (RVN) and Lagrange (LA), are shaking the market with their price rallies. They even made it to the popular top trending list on the CoinMarketCap live-price tracking platform. If a cryptocurrency is recording price growth, there could be multiple reasons. One of the main ones is a token listing announcement by a renowned crypto exchange platform!
Ravencoin (RVN) and Lagrange (LA) Prices Rally Following Upbit Listing Upbit is the largest crypto exchange platform in South Korea, and its token listing announcements often led to huge price spikes. On similar lines, its recent announcements about Ravencoin and Lagrange have resulted in their incredible price surges.
Upbit has announced that its users can now trade RVN tokens with local KRW currency on the platform. The token went live on the exchange today at 5 pm local time.
Ravencoin (RVN) witnessed a sharp price spike and went from a low of $0.01079 to a 24-hour high of $0.02267. The upbit listing is the major drive behind its 100% surge. The RVN token is currently trading at $0.01598 with only a 45% 24-hour surge. Its trading volume has increased by a whopping 6,074.18%, thanks to the Upbit listing announcement.
On the other hand, Lagrange (LA) is a relatively new token that made its entry to the market not more than a couple of days ago. Upbit has announced that it is going to offer trading support for Lagrange token in BTC and USDT markets. This is huge news from an exchange like Upbit for a relatively new token like LA.
The Lagrange (LA) token has witnessed considerable growth since its launch. And a market support announcement by Upbit has further boosted its market price. The LA token is currently trading at $1.32, with a 240% price surge in the last 24 hours. It is gaining huge traction from day 1, being developed by a zk-proof networks developer.
South Korea has a thriving community of crypto enthusiasts. Events like these further confirm its leading position in global crypto markets. The recent change of government in South Korea is optimistic for the crypto space.
Highlighted Crypto News Today:
Bitcoin Hovers Near $105K as Technical Indicators Show Mixed Signals
Manisha is a proficient content writer with a keen eye for blockchain, NFTs, and fintech trends. With a passion for breaking down complex topics, she delivers insightful and engaging content for the Web3 community. Her expertise spans emerging market trends, latest news, and industry developments.
In a pattern that has been rinsed and repeated countless times this year, crypto markets are crumbling as Bitcoin failed to hold support. The altcoins are still hopelessly tied to their big brother so any pain for it is magnified for them.
Over $20 Billion Exits Crypto Space Over the past 24 hours crypto markets have shrunk to their lowest levels for almost three months. As billions left the space total market capitalization plummeted to $245 billion. All gains since late May have now been wiped out and altcoins are in danger of returning to their crypto winter levels if the rout continues.
total market cap YTD – coinmarketcap.com According to Tradingview.com Bitcoin dominance is still at 71.5% despite a thousand dollar dump. This means that the altcoins have suffered greater losses today, many of them in double digit declines. Bitcoin’s intraday high to low marks a loss of around 9% however the pain is greater elsewhere on crypto markets.
Ethereum, which has seen prices eroding for the past two months, has capitulated below $170 in a 10 percent plunge overnight. A death cross on the four hour chart a few days ago is about to be repeated on the daily chart as the 50 day moving average drops closer to the 200 day MA. This is a major bearish indicator which signals continuation of the down trend.
Development work on the Ethereum network is still ongoing with six new upgrades planned in the Istanbul hard fork slated for mid-October. This has not prevented the bears dumping the asset in panic over big brother’s fall through support however.
There has been little love for XRP either as the Ripple token gets crushed back to a yearly low of $0.25. A lot of bad press and FUD has inspired little confidence in the world’s third largest crypto asset recently.
The rest are faring no better with double digit losses for Litecoin, Binance Coin, EOS, Monero, Cardano, Tron, Dash, Ethereum Classic, Tezos and Chainlink. There are only a handful of low cap altcoins surviving the purge today and they include Golem, SOLVE and HedgeTrade.
The mess has not been missed by industry observers with RT anchor, Max Keiser, commenting;
“#Bitcoin dominance climbs as alt-season fails to materialize and alts resume downward trek to oblivion. BCH and BSV have another 90% drop to go.”
#Bitcoin dominance climbs as alt-season fails to materialize and alts resume downward trek to oblivion. BCH and BSV have another 90% drop to go. pic.twitter.com/muSHYRh6H1
— Max Keiser (@maxkeiser) August 29, 2019
Time to Be Bullish on Altcoins? Some are clinging perilously onto hope however and see opportunity in the misfortune of many crypto assets. ‘WelsonTrader’ tweeted;
“Accumulating some alts within the next 24 hours, as I think we may see a bounce here! Bitcoin may also bounce at support around $9500-$9550! If we break below that, expect a blooody week!”
All eyes are on Bitcoin’s next move as the alts are bound to follow. At the moment it is also clinging perilously onto support around $9,450, but teetering on the edge of a deeper chasm.
The recent passage of the GENIUS Act introduced a new regulatory framework for stablecoins, such as Tether (USDT), drawing increasing attention from traditional and cryptocurrency firms.
Tether’s Regulatory Challenges And Rising Rivals With the stablecoin market growing from $120 billion in October 2023 to $288 billion as of August, Tether’s USDT continues to hold its position as the largest stablecoin.
However, the Motley Fool team has identified three emerging contenders that are poised to disrupt the company’s dominance and present significant competition.
Tether commands nearly 60% of the stablecoin market, but it has not been without controversy. In 2021, the Commodity Futures Trading Commission (CFTC) fined Tether $41 million for “misleading claims” regarding its reserves, which were allegedly not fully backed by US dollars.
Furthermore, Tether’s current reporting practices do not align with the requirements set forth by the recently passed GENIUS Act, which mandates stablecoin issuers to publish monthly disclosures about their reserves.
Notably, the stablecoin issuer only provides these reports on a quarterly basis, potentially opening the door for competitors to capture some of its market share, at least in the United States.
Among the most prominent challengers highlighted is USD Coin (USDC), which boasts a market capitalization of approximately $68 billion. Like Tether, USDC is a fiat-backed stablecoin; however, it has not faced any legal scrutiny regarding its reserves.
The issuer, Circle, has consistently published monthly attestations since USDC’s inception in 2018. The Motley Tool team asserts that this commitment positions USDC as Tether’s primary competitor, especially as regulatory compliance becomes increasingly crucial.
The competitive landscape is further complicated by regulatory developments in Europe. Under the European Union’s Market in Crypto-Assets Regulation (MiCA), stablecoin issuers must obtain regulatory approval and meet strict reserve requirements.
Circle has already achieved compliance with both USDC and its Euro stablecoin, EURC, while Tether has opted to withdraw from the European market entirely.
A New Contender With Ties To XRP Another contender is Dai, now rebranded as USDS, which differentiates itself by adhering to the principles of decentralization. Unlike Tether and USDC, Dai is managed by Sky, previously known as MakerDAO, a decentralized autonomous organization.
This structure allows anyone holding SKY governance tokens to participate in decision-making processes concerning Dai. Rather than being backed by fiat reserves, Dai is a crypto-backed stablecoin, relying on overcollateralized crypto loans.
Lastly, Ripple USD (RUSD) enters the fray as a smaller player with a market cap of around $667 million. Despite its size, the Motley Fool asserts that RUSD’s connection to XRP makes it a formidable competitor.
Ripple, the company behind XRP, has launched RUSD as part of its payment solutions for financial institutions, focusing on efficient cross-border transactions.
Additionally, RUSD has received regulatory approval from the New York State Department of Financial Services, which adds a layer of credibility and could help it gain traction in the market.
Despite the potential threat, Tether’s figures far surpass those of these three challengers. This suggests that the firm’s reign in the stablecoin market may continue for some time. One thing is certain, though: stablecoins are making a notable entrance into the broader financial landscape.
The daily chart shows the market’s total capitalization dropping toward $3.75 trillion. Source: TOTAL on TradingView.com Featured image from DALL-E, chart from TradingView.com
The Madras High Court has ruled against WazirX redistributing user’s XRP holdings following its 2024 hack, declaring that cryptocurrencies qualify as property under Indian constitutional law.
Summary
WazirX was barred from reallocating 3,532 XRP tokens belonging to an unaffected user under its “socialisation of losses” plan following a $234 million hack. The court rejected WazirX’s argument that its Singapore-based restructuring automatically applied to Indian users, asserting domestic jurisdiction over crypto holdings accessed in India. The court declared that cryptocurrencies qualify as property under Indian law and can be held in trust. WazirX barred from redistributing user’s XRP under its “socialisation of losses” plan The Madras High Court, one of the High Courts of India, has ruled that cryptocurrencies qualify as “property” under Indian constitutional law and are capable of being held in trust. The ruling came in a case involving user holdings on the Indian-operated platform of WazirX, following a major security breach in 2024.
The court heard the plea of an individual whose account held 3,532 XRP tokens that were unaffected by the hack but were set to be diluted under WazirX’s proposed “socialisation of losses” plan. The plan, approved in Singapore as part of a restructuring process, would have spread the losses from the July 2024 hack—reported at approximately $234 million —across all users, including those whose assets were unaffected.
WazirX argued that its Singapore-based restructuring governed its Indian users, but the court disagreed. Justice N. Anand Venkatesh held that the petitioner’s crypto holdings were held “by means of the WazirX platform” in India, and thus the court exercised domestic jurisdiction.
He directed the Indian operator, Zanmai Labs Pvt Ltd, to furnish a bank guarantee corresponding to the value of the frozen XRP while the matter is resolved. The court emphasised that the tokens must remain with the user and cannot be reallocated without proper legal basis.
The Madras High Court’s decision arrives amid India’s slow progress toward comprehensive crypto regulation. While the country enforces a 30% capital gains tax and 1% tax TDS on crypto trades, it still lacks legislation defining ownership rights, investor protections, or exchange accountability.
By treating crypto as property in this decision, the court has provided a crucial legal benchmark that strengthens investor protections and could guide the development of future regulatory frameworks.
The court affirmed that the users' XRP remains their property, reinforcing that cryptocurrency is legally recognized as a protected asset.
An Indian court has blocked crypto exchange WazirX from reallocating a user’s XRP to cover platform losses. The Madras High Court granted “interim protection,” affirming that the user’s digital assets remain their distinct property under Indian law. The ruling marks a key moment in the country’s evolving crypto jurisprudence.
The case stems from WazirX’s plan to apply a “socialization of losses” model after a $235 million exploit in July 2024. The exchange proposed spreading losses across all users, including those who held cryptocurrencies unrelated to the stolen ERC-20 tokens.
Court Upholds Crypto Ownership Rights Justice N. Anand Venkatesh ruled that the loss-sharing approach should not affect the XRP holder. The user’s 3,532 tokens, valued at around $9,400, were acquired long before the hack. The judge held that XRP and ERC-20 assets are separate in nature and cannot be grouped together for recovery purposes.
The court further clarified that the user’s XRP remains their property and cannot be diluted to offset the exchange’s operational failures. In doing so, it reaffirmed that cryptocurrency qualifies as a form of property capable of being owned and protected under existing law.
To enforce this ruling, the judgment also invoked the Arbitration and Conciliation Act, ensuring the user receives legal safeguards until arbitration proceedings are concluded. WazirX must either deposit 956,000 rupees (about $11,500) in escrow or provide a bank guarantee for the same amount as interim protection.
WazirX Resumes Amid Key Legal Shifts The Madras High Court decision comes as WazirX seeks to rebuild its operations following the prolonged suspension stemming from the 2024 breach. The platform resumed operations last week after the Singapore High Court approved its restructuring plan, with backing from nearly 95.7% of participating creditors.
WazirX previously attributed the exploit to North Korea’s Lazarus Group, which exploited a weakness in its multi-signature wallet setup. The hack forced the exchange offline for 16 months, prompting widespread debate about accountability and asset security in India’s crypto market.
You may also like: XRP’s Price Could Explode to $8, But This One Zone Is Holding It Back 5 Reasons Why Bitcoin Just Crashed Below $63K as Liquidations Top $500M XRP’s Biggest Warning Sign Is Still Flashing Despite Easing Whale Activity Against this backdrop, legal observers see the latest ruling as a signal that Indian courts are beginning to recognize digital assets as protected property. The case follows a Bombay High Court decision rejecting similar loss-sharing measures by Bitcipher Labs. Notably, these developments could shape future disputes as India moves toward clearer crypto regulations.
Somewhat unsurprisingly, a court in India recently ruled in favor of an XRP investor against crypto exchange WazirX and provider the trader with interim protection by preventing the digital assets platform from reallocating the customer’s XRP holdings. In an order issued this past Saturday (on October 25, 2025) by the Madras High Court, Justice N. Anand Venkatesh ruled that WazirX would not be able to redistribute a user’s XRP assets (valued at around $9,500 at current market prices) to absorb platform losses after a massive $230 million hack / security breach in July of last year.
As a key aspect of its ongoing restructuring process, digital assets exchange WazirX stated that it plans to move forward with a “socialization of losses” plan, asking clients, including customers that don’t have any ERC-20 tokens, to simply “absorb” a certain portion of losses in their portfolios.
The court judge in India said that the proposed plan must not apply to the user maintaining XRP tokens in their account, as the pilfered crypto-assets were ERC-20 tokens that are considered to be fundamentally different types of virtual currencies.
Unfortunately, this type of socializing of losses recovery strategy must not even be considered for any customer funds lost due to any hack or situation out of their control. This practice must not be encouraged or somehow become normalized or thought of as standard practice. Should these types of approaches persist, then customers will lose trust in crypto exchanges in general.
Notably, the Indian court’s recent ruling focused on basic property rights, noting that the said client’s XRP holdings, which were acquired well before the hacking incident, remain rightfully theirs and, therefore, must not get diluted just to make up for the exchange’s own shortcomings.
The court also stated that crypto holdings are considered property under the existing legal and regulatory framework, as they are capable of “being possessed” by an individual or organization.
The latest ruling determined that the customer is rightfully entitled to a temporary form of protection as per the nation’s current Arbitration and Conciliation Act. The court judge has now instructed the management at WazirX to provide a bank guarantee of around $11,500 in local currency. Alternatively, they can deposit the same funds in an escrow account as temporary protection for the client, while awaiting arbitration on the matter.
As reported this past week, WazirX resumed its crypto trading operations following Singapore’s High Court giving the green light to its restructuring phase, which is said to be supported by the vast majority of active creditors.
The damaging security breach this past year and hack resulted in a extended platform suspension. As widely reported, the exploit was carried out by North Korea’s Lazarus Group, which had targeted a certain vulnerability in the service provider’s multi-sig crypto wallet infrastructure.
Clearly, WazirX’s plans to “socialize” the losses is a sign of poor judgement and decision-making. But unlike more prominent and systemically significant exchanges like ByBit, which had also been hacked, WazirX simply does not have the resources or industry backing to do much better. However, the management at the exchange has also tried to avoid accountability as much as possible, as indicated in the general manner in which they have communicated since the incident.
India has taken a big step in crypto law. The Madras High Court has ruled that digital assets like XRP count as legal property. This means crypto is now treated like something you can own and protect under the law. The case began after a user on WazirX, a crypto exchange, filed a complaint. Her account held over 3,500 XRP, worth about $9,400. After a major hack at the exchange in 2024, WazirX froze many accounts and planned to spread the loss across users. She argued this was unfair and violated her rights as an owner.
“Madras High Court recognized cryptocurrencies as legally protectable property, upheld Indian jurisdiction over assets held by Indian investors”https://t.co/NUAqUeZI7w pic.twitter.com/behzyK1Hxc
— Vijay Shekhar Sharma (@vijayshekhar) October 25, 2025
Court Rules Crypto Is Property The court agreed that the user’s XRP was her property. It ordered WazirX to protect the funds and provide a bank guarantee while the case continues. The judge made it clear that crypto is something you can hold, control, and trust, even though it is digital.
This is a major first for India. The ruling gives crypto owners legal protection. In simple terms, if you own crypto on an exchange, the exchange cannot use your assets to cover its losses without legal grounds.
What It Means for Indian Investors This ruling brings clarity for crypto users in India. For the first time, a court recognized digital coins as personal property. It gives investors more confidence and may push lawmakers to build clearer rules for crypto trading and protection.
The decision also puts India in line with places like the United States and the United Kingdom, where crypto is also treated as property in certain cases.
🚨 Urgent: Indian Exchange Hacked 🚨@WazirXIndia India’s Safe Multisig wallet on the $ETH network has been compromised.
A total of $234.9M has been moved to a new address. Each transaction’s caller is funded by @TornadoCash. pic.twitter.com/13NrHkQTaZ
— Cointelegraph (@Cointelegraph) July 18, 2024
Impact on XRP and Crypto Market Legal certainty is good news for XRP in India. More trust may bring more users and trading activity. Exchanges may also update their rules to protect user assets better.
India is still shaping its crypto policy. But this court ruling is a key moment. It shows that digital assets like XRP are not just tokens online, they are real property with legal rights.
Disclaimer The information provided by Altcoin Buzz is not financial advice. It is intended solely for educational, entertainment, and informational purposes. Any opinions or strategies shared are those of the writer/reviewers, and their risk tolerance may differ from yours. We are not liable for any losses you may incur from investments related to the information given. Bitcoin and other cryptocurrencies are high-risk assets; therefore, conduct thorough due diligence. Copyright Altcoin Buzz Pte Ltd.
Solana-based Drift Protocol has suffered the largest exploit of 2026 to date, losing nearly $300 million in a “highly sophisticated operation” that has raised concerns about the growing threat of human-targeted attacks in the crypto space.
Solana DEX Loses $285M On April Fool’s Day On Wednesday, Solana-based decentralized exchange (DEX) Drift Protocol was the victim of an exploit that stole hundreds of millions of dollars from its vaults. After online reports flagged unusual on-chain activity yesterday afternoon, Drift’s official channels confirmed the attack, quickly suspending deposits and withdrawals.
Drift Protocol confirms the attack. Source: X According to reports, the attack lasted less than 20 minutes and stole around $285 million in multiple assets, including USDC, JPL, USDT, JUP, USDS, WBTC, and WETH, from nearly 20 vaults. This marks the largest crypto exploit of 2026 to date, and one of the largest hacks in the industry, just above WazirX’s $235 million hack.
The hack wiped out half of the Solana-based project’s total value locked (TVL), which fell from roughly $550 million to $252 million, per DeFiLlama data. Drift protocol’s token, DRIFT, also plunged, retracing nearly 40% over the past 24 hours.
Within hours, the exploiter had swapped $270.9 million into USDC, bridged them from Solana to Ethereum via the CCTP TokenMessengerMinterV2, and purchased 129,000 ETH, splitting them across multiple wallets.
In a Thursday post, Drift shared the details of the incident, affirming that “a malicious actor gained unauthorized access to Drift Protocol through a novel attack involving durable nonces, resulting in a rapid takeover of Drift’s Security Council administrative powers.”
Solana’s durable nonces are an advanced mechanism that allows transactions to bypass the typical short expiration date of regular transactions. This enables users to pre-sign transactions for future execution, offline signing, or complex multisig workflows.
“This was a highly sophisticated operation that appears to have involved multi-week preparation and staged execution, including the use of durable nonce accounts to pre-sign transactions that delayed execution,” the post continued.
Malicious Actors Targeting Humans, Not Smart Contracts The Solana-based DEX emphasized that the exploit was not the result of a bug in Drift’s programs or smart contracts, noting that they found no evidence of compromised see phrases either.
“The attack involved unauthorized or misrepresented transaction approvals obtained prior to execution, likely facilitated through durable nonce mechanisms and sophisticated social engineering,” the project underscored.
Lily Liu, President of the Solana Foundation, addressed the incident, asserting that it is a blow to the whole Solana ecosystem. Liu pointed out that “Smart contracts held up. The real targets now are humans: social engineering and opsec weaknesses more than code exploits.”
Ledger CTO Charles Guillemet linked Drift’s attack method to Bybit’s $1.4 billion hack, which was attributed to North Korean hacking groups. As he explained, the attackers likely compromised several machines belonging to multisig signers through long-term infiltration and misled operators into approving the malicious transactions.
This modus operandi is similar to the Bybit hack last year, widely attributed to DPRK-linked actors. The pattern is becoming familiar: patient, sophisticated supply-chain-level compromise targeting the human and operational layer, not the smart contracts themselves.
Guillemet affirmed that the incident is “yet another wake-up call for the industry” to raise the bar on security. “Ultimately, security is not just about code audits. It’s about giving operators and users the right information at the right time, so they can make informed decisions about what they sign,” he concluded.
Solana trades at $76 in the one-week chart. Source: SOLUSDT on TradingView Featured Image from Unsplash.com, Chart from TradingView.com
Months ago, Binance announced its Binance US and began to accept deposits from US citizens on September 18, starting with Bitcoin (BTC), Ethereum (ETH), Ripple (XRP), Bitcoin Cash (BCH), Litecoin (LTC) and USDT.
Binance US later grew this number to 19 and according to a recently published blog post written by Binance US CEO Catherine Coley, the company is now considering adding another 18 tokens to those already listed.
In the post, the exchange suggests that its decision to expand its list of supported tokens is borne out of the need to have “the most diverse selection of high-quality digital assets, without high fees.”
This expansion is bound to ensure that all of the exchange’s customers are not denied access to the bigger market with a lot more tokens and competition, ensuring that customers can trade assets with “true utility.”
The tokens currently been considered are Celer Network (CELR), Decreed (DCR), Enjin Coin (ENJ), Fantom (FTM), Icon (ICX), IOST (IOST), Komodo (KMD), OmiseGo (OMG), Harmony (ONE), Ontology (ONT), Ren (REN), Status (SNT), Theta (THETA), TomoChain (TOMO), Tron (TRX), NEM (XEM), Tezos (XTZ), and Hedera Hashgraph (HBAR).
The announcement also adds a reminder that all new users will get a $15 bonus when they sign up and will be able to trade free of charge for 30 days as it has been doing since the launch. Because Binance US is unavailable in some US states, the announcement also intimates that the platform is working on expanding access to the states that do not have Binance US access.
On the issuance of these tokens, Coley suggests that the company will take whatever measures it deems fit, to protect against fraud:
“Binance.US recognizes that the ease of issuing blockchain tokens and the perceived lack of regulation could make these tokens targets for abuse. Binanace.US has both legal obligations and moral duties to shield our users from fraudulent blockchain projects and combat financial crimes.”
Coley then concludes by asking the public to do “digital homework” before any decisions are made suggesting that customers are to not only learn about the prospective assets but also about methods being used by Binance.
Bitcoin is on the move again, heading north. The largest cryptocurrency is recording impressive gains over the last 24 hours, and it even touched $8,000 before retracing to the current level of $7,900.
Just yesterday, BTC was trading around $7,300, and, in a few positive candles, surged with almost 10%. However, as Cryptopotato reported, the $8,000 mark served as a significant resistance line, which also contains the 100-days moving average, and BTC couldn’t break it, yet.
BTCUSD 4h Bitstamp. Source: TradingView The recent price increase is spreading among most of the altcoins as well. This reduced Bitcoin’s market dominance slightly, and it now stands at 68.1%. Ethereum has been mostly in the green since the start of this year and is at $145 now.
Ripple, being listed on Binance Futures, is the biggest gainer within the top 10. Bitcoin Cash, Litecoin, EOS, and Monero record similar gains of around 2.5%, while TRON and Cardano are up by 5% and 6%, respectively. The recent move up brought the total market cap to be over $211 billion.
Total Market Capitalization: $211 B | Bitcoin Market Capitalization: $144 B | Bitcoin Dominance: 68.1%
Major Crypto Headlines Qatar Blocks Cryptocurrency Services Throughout The Gulf. Qatar’s Financial Center, serving as the country’s regulatory authority, has recently issued a blanket ban on cryptocurrency-related services within its borders. Additionally, it affects “anything of value” that could substitute fiat currencies.
South Korean Commission: Korean Firms Should Be Allowed To Launch Bitcoin Derivatives. A new document coming from South Korea says that the government is considering to list Bitcoin directly on the Korea Exchange (KRX), which could lead to Bitcoin derivatives in the near future.
You may also like: Brutal Bitcoin Liquidation Cascade Imminent Below $59K, Warns Analyst Bitcoin Price Crashes Below $60K as Strategy’s MSTR Plunges 10% Bitcoin’s Network Is Booming Even as Prices Remain Below Record Highs Ripple Surges 10% As Binance Futures Adds XRP/USDT Perpetual Contracts. As of yesterday, Binance Futures added the third-largest cryptocurrency in its portfolio of perpetual contract trading pairs. As a result, XRP has pumped with over 10% within the last 24 hours.
Significant Daily Gainers and Losers Centrality (26.56%) In a predominantly green market today, CENNZ rises above all coins in the top 100 at the moment. It surges with over 26% to just shy of $0.1 against the dollar and with 21% against BTC to 1251 SAT. In a series of videos, the company’s tech executives have recently been talking about Centrality’s developments.
DigixDAO (10.87%) DigixDAO is next as the second most impressive gainer in the last 24 hours, with almost 11% to $20.36 at the time of this writing. The price records a 6% incline against the largest cryptocurrency to 0.0026 SAT. The company recently published a new incentive, saying that if investors hold 10 DGX for ten days, they will receive 0.44 as a reward.
Synthetix Network Token (-16.75%) SNX stands today on the other way of the scale with a severe 17% drop against the dollar to $0.90. The decrease against Bitcoin is even more significant at over 20%, and SNX/BTC trades at 11468 SAT. Interestingly enough, the popular U.S.-based cryptocurrency exchange, Coinbase, recently published a report regarding DeFi that included Synthetix, as well.
Data suggests retail investors likely support 40-60% of the XRP price floor by holding onto their tokens and refusing to sell.
A well-known XRP community figure and music artist, MC Solar Wind (MCSW), recently assessed how much retail investors support XRP’s current price level. He estimated that individual holders likely account for about 40% to 60% of the asset’s price floor.
Key Points Retail investors likely support 40-60% of XRP’s effective price floor through holding behavior. Around 16 billion XRP sits on exchanges, representing 26% of the 61.68 billion circulating supply. Of 7.8 million activated wallets, 82% hold 500 XRP or less, confirming the dominance of retail investors. Community narrative and belief influence whether supply stays locked or returns to market, affecting XRP’s price floor. XRP On-chain Data Confirms Retail Influence MCSW noted that XRP is currently in a specific phase. As part of his assessment, he estimated that around 15% to 20% of the total supply sits on exchanges, mostly involving retail deposits.
He also pointed out that ETF exposure remains small, at roughly 1% of total supply, and noted that these products are still largely made up of non-institutional participants. In addition, he highlighted that the network has between 7 million and 8 million activated wallets, many of which belong to smaller holders.
Actual on-chain data confirms these claims. Specifically, exchange balances show that about 16 billion XRP is currently held on trading platforms. This represents nearly 26% of the circulating supply, which stands at 61.68 billion tokens.
Additionally, across six ETF products, total holdings amount to approximately $1.1 billion worth of XRP. This equals roughly 1.2% of the asset’s total market capitalization. This confirms that institutional exposure through ETFs remains relatively small compared to the broader market.
The XRP Ledger currently has about 7.8 million activated wallets. Out of these, roughly 6.4 million wallets, or 82%, hold 500 XRP or less. Meanwhile, there have been multiple transfers to self-custody and a growing number of long-term holders. While this does not directly push prices higher, it helps limit downside pressure.
Retail Supports 40-60% of XRP Price Floor Considering these estimates, MCSW concluded that retail investors likely support 40% to 60% of XRP’s price floor. He clarified that this support comes mainly from holding, not from continuous buying. When a large number of holders choose not to sell, it reduces available supply and strengthens price stability.
XRP Market Structure | MC Solar Wind He also noted that price still moves based on activity at the margins. Specifically, market makers, large investors, and ETF inflows have continued to influence short-term price changes.
However, when a large portion of the supply remains inactive, this changes the structure of the market. MCSW stressed that XRP currently represents a market where price movement at the edges is relatively thin, while a strong base supply remains locked, which shows retail influence.
How Community Narratives Influence Investor Sentiment MCSW also discussed how community narratives have determined price behavior over time. He called attention to “riddle” discussions from community figures. According to him, these ideas and interpretations have acted as a kind of cultural link within the XRP community.
He explained that not everyone takes these narratives literally, but they have helped maintain attention and belief. Over time, this has influenced whether people continue holding their XRP or decide to sell.
Speaking further, MCSW compared XRP with other major crypto assets. He said Bitcoin and Ethereum have mostly moved into a stage where institutions dominate. In those markets, ETFs, staking, and corporate investments now mostly influence price movement, even though retail investors built the early base.
On the other hand, assets like Solana and Binance Coin still rely on retail activity. However, the activity comes more from usage, such as DeFi, meme trends, and growing ecosystems, instead of simple long-term holding.
XRP In a Transition Phase MCSW said XRP sits between these two ends. Notably, retail holding still plays an important part, but the asset is moving toward a future where institutional use could take over.
The community figure said XRP currently lies within a bridge phase. Specifically, retail investors still hold a large share of the supply, while institutional involvement continues to grow but has not yet become dominant.
He added that if XRP reaches large-scale adoption, especially in areas like cross-border payments, liquidity demand, and financial integration, the price will eventually depend on real usage instead of belief. In this case, higher price levels, including $20 and beyond, would come from actual demand, not narrative.
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.
The prices of many altcoins dropped significantly post the market crash on 12 March. However, many are still optimistic that the coins will put up a good show through the course of 2020. Cardano’s Charles Hoskinson, for instance, is of the opinion that Cardano will outperform Bitcoin, Ethereum, XRP and every other blockchain in the industry by the end of 2020.
Cardano
There might be a lot of positive sentiment around Cardano, but one look at the coin’s price chart might suggest otherwise.
Cardano has been trending downwards since 13 February. The coin saw another major drop on 7 March [65% drop], a movement that continued following the market crash on 12 March. However, the coin rose up within 3 days by 64% and it has since, been maintaining the support at $0.02.
There is a symmetrical triangle pattern being formed in the above chart, a development that indicated that the price might break out in either an upward or downward direction. However, the Awesome Oscillator indicator resting above the zero line with green bars confirmed an upward breakout.
The 46th ranked coin on CoinMarketCap had a good start at the beginning of 2020. As seen in the chart above, there was an upward trend seen; however, following 12 March, the price has been on a downward run as it fell by 39% over a period of seven days. Furthermore, the Bollinger Bands appeared to be contracting, a sign that there might be lower volatility levels over the coming days.
Kyber Network’s[KNC] price has been on the rise since the end of December 2019. The network also experienced significant growth in transaction volume, and this might be the pre-effect of the major protocol upgrade scheduled for Q2 of 2020. Looking at the above price v/s volatility chart, it can be seen that the price has been rising upwards since Jan 1, although it experienced a slight glitch post the crash. The volatility levels are also low. Investors seem to be believing in the long-term potential of KNC.
Press time price:$0.434452
Market Cap: $78,163,694
24-hour Trading Volume: $28,299,657
MakerDAO, the “decentralized” bank, went through a mass liquidity crisis. But Maker’s problems extend beyond a single shock—centralization left them doomed from the start.
The 2008 DeFinancial Crisis Have you heard this story before:
Bank finances its investments with an asset, provided by customers. Bank uses those assets to back something else, based on people’s confidence in the collateral. Major turmoil grips the market and the underlying asset becomes unstable. Suddenly, people want their money back. Bank offers some other unbacked guarantee instead to fill the gap, allowing them to profit. Everyone loses, except the bank. The end. Does this sound like something from 2008?
Well, in fact, this story happened just last week. MakerDAO went through its own liquidity crisis. Simply swap ETH for mortgages, DAI for mortgage-backed securities, and USDC for credit default swaps.
Don’t believe me? Maker’s own advertising compares the platform to mortgage-backed loans:
Source: MakerDAO Financialization is a virulent mindset, and MakerDAO is sick with it. Take, for example, the growing evidence of the Maker Foundation’s participation in their own debt auctions. Even if they’re “priming the pump,” such behavior reeks of the same sort of share inflation seen on Wall Street.
The 1% Stands to Benefit from Maker It’s important to ask who benefits from Maker’s success to see where the incentives are. In reality, only a few lucky wallets will benefit from an increase in MKR’s value.
This is evident based on the major tokenholders. Between the MKR Development Fund and primary voting contracts, the top 25 wallet addresses own over 99% of all existing tokens. To make matters worse, the anonymous nature of blockchains makes it difficult to hold these parties accountable.
Though, it is possible to piece together who holds the bags: Dragonfly Capital Partners and Paradigm have acquired a total $27.5 million in MKR—5.5% of global supply. Polychain Capital, a16z and 1confirmation are a few of the other funds who funded MakerDAO.
Advertisement
These funds would like to say they’re helping to build the future of DeFi, but their presence makes the decentralization of the platform questionable. Most crypto enthusiasts don’t have millions to throw around. And, for context, Bitcoin didn’t need venture capital.
Major investors, of course, want their millions protected. So, to stabilize DAI, Maker opened their vaults to USDC. Why is this problematic? USD Coin is a permissioned and censurable asset, which puts the platform at the mercy of governments. May as well back DAI with fiat.
Dai Only works, Until It Matters Maker’s promises are meaningless when USDC can be frozen at the discretion of Circle’s global blacklist.
In the event that DeFi becomes a disruptive force, and financial statutes are enacted to outlaw it, would Maker—and anyone else relying on them—survive collapse? Or, maybe MakerDAO would get sucked into the vortex of traditional finance, making it no better than old institutions it originally sought to replace.
In short, MakerDAO’s “decentralized autonomous organization” is not decentralized, nor autonomous, nor organized. In their desperation to save their platform, its administrators have entirely abandoned the promises that originally drew crypto enthusiasts to their model.
The admins and their supporters would, of course, argue that what they’re doing works. Of course it does. Traditional finance is already proven, and it works—in the short term.
However, in the long run, it’s only a matter of time before abuse takes over the system and brings things crashing down, just like in 2008.
MakerDAO Is Centralized Finance If it isn’t stopped, the same collusion and rampant abuse on Wall Street will pervade DeFi.
By stabilizing their coin with fiat, MakerDAO has signified that they’ve given up. If people in DeFi wanted dollars they would have purchased Treasury Bonds.
Now, MakerDAO’s only innovation has been creating a “bank-on-the-blockchain.” And, as other traditional financial firms consider building their own networks, it stands to reason that Maker’s current path won’t lead to much success.
In the end, people shouldn’t waste their time bailing out MakerDAO when more promising paths to decentralization still exist.
There Is Another Way to DeFi There are several examples of projects doing it right. Kava is a DeFi platform with similar lending facilities to MakerDAO, but it offers loans on a wide range of collateral, including Bitcoin, Binance Coin, and XRP. Notably, the Kava platform is a purpose-built blockchain designed to handle hyper-volatility and intense liquidity events, the same issues that are currently causing problems for MakerDAO.
Other self-stabilizing tokens are being built without the obfuscated centralization of DAI. AMPL, for example, with its internal inflation protocol, allows for an internally regulated economy with less risk of meddling from executives.
This kind of creativity is exactly what DeFi needs. The field will live and die by its tools, and shoddy imitations of current finance won’t do.
Banking, by definition, requires a certain level of administration. Banking is flawed because human discretion is flawed. The boom and bust cycle won’t end until the human component is mitigated.
DeFi allows for this kind of future. More creative, self-governing code can change the face of finance. Players from Facebook to Goldman Sachs understand this. Unfortunately, they’re attempting to pollute the space with “x-on-the-blockchain” projects instead of tapping into the transformative promise of blockchain technology.
In all, MakerDAO’s thinly veiled attempt to make a “bank-on-the-blockchain” is just another vacuum of the imagination. There is another way. Instead of letting this define DeFi, people should make one simple demand: No banks and no gatekeepers.
This time, we don’t have to wait for another collapse and another bail out. It’s possible to use technology to create something entirely new, the world is simply waiting for the right people to make it happen.
This sponsored guest post was brought to you by Ampleforth, Crypto Briefing’s preferred DeFi partner. Recognition due to co-author Andrew Prensky, with contributions from Richy Qiao.
Disclosure: This is sponsored content. It does not represent Crypto Briefing's editorial views. For more information, see our Editorial Policy.
PANews reported on June 2nd that, according to Decrypt, following the CFTC's approval of Bitcoin perpetual contracts last Friday, prediction market maker Kalshi quickly submitted self-certification applications for perpetual contracts on 12 major altcoins, including Ethereum, XRP, Solana, Dogecoin, Stellar, Chainlink, Bitcoin Cash, Litecoin, Sui, Shiba Inu, Polkadot, and Hedera. The CFTC stated that while approving the Bitcoin perpetual contract, perpetual contracts for other assets will be reviewed on a case-by-case basis; therefore, Kalshi's applications have not yet been approved.
On June 14, U.S. Securities and Exchange Commission (SEC) filings show the regulator has formally approved a rule change proposed by NYSE Arca that enables the listing and trading of the T. Rowe Price Active Crypto ETF. An actively managed cryptocurrency ETF, the fund will invest in a basket of digital assets meeting SEC-defined "eligible asset" criteria. While it uses a cryptocurrency index as its benchmark, it will not track that index passively. The filing notes the fund is projected to hold roughly 5 to 15 distinct cryptocurrencies, including major tokens like Bitcoin (BTC), Ethereum (ETH), Solana (SOL), XRP, Cardano (ADA), Avalanche (AVAX), Litecoin (LTC), Polkadot (DOT), Dogecoin (DOGE), and Chainlink (LINK). The SEC filing also reveals the fund may hold stablecoins—primarily USDC—as "tokenized cash" during normal operations to cover expenses and rebalance assets, though these will not count toward its core investment portfolio. The approval notice stresses the product must adhere to NYSE Arca’s rules around anti-manipulation, disclosure, liquidity, and risk management. It also requires the fund to have information barriers (often called "firewalls") and position transparency mechanisms in place to uphold market fairness and prevent insider trading. Analysts say this ETF’s approval further expands cryptocurrency’s footprint within the traditional financial sector, marking the arrival of actively managed multi-crypto ETFs as tradable products under mainstream regulatory oversight.
Relevant content
The US stock market's optical communication sector rises across the board in pre-market trading, with Corning up 9.28%.
According to Bitget market data, the U.S. stock market's optical communication sector saw broad pre-market gains, with MRVL rising 4.99%, LITE up 3.24%, Nokia up 3.11%, Corning up 9.28%, and AXTI up 6.69%.
3 minutes ago
US-listed AI chip stocks saw mixed pre-market performance, with Qualcomm surging 13%.
According to Bitget market data, U.S. AI chip stocks posted mixed pre-market performance: Qualcomm (QCOM.O) surged 13%, Intel (INTC.O) rose nearly 6%, AMD (AMD.O) gained nearly 4%, and Google (GOOG.O) declined 1.4%.
3 minutes ago
Micron Technology surges 18% in pre-market trading on US stocks
According to Bitget market data, the US stock storage sector is seeing broad pre-market gains. Micron Technology (MU.O) jumps 18% in pre-market trading, as its strong earnings significantly exceeded expectations, with multiple major banks raising the stock’s target price. SanDisk (SNDK) rises 12.25%, Western Digital (WDC) gains 12.05%, and Seagate Technology (STX) climbs 8.63%.
3 minutes ago
SBI announced it will acquire cryptocurrency trading platform Bitbank for 46.7 billion yen.
According to Nikkei News, Japanese financial group SBI Holdings announced on the 25th that it will acquire cryptocurrency exchange platform bitbank for 46.7 billion yen (approximately $288 million). Upon completion of the transaction, SBI Group’s crypto asset custody scale is expected to exceed 1 trillion yen, making it one of the largest operators in Japan’s crypto industry. Per the plan, a subsidiary under SBI Holdings will acquire Bitbank shares from individual shareholders including its founders as early as August this year. Bitbank will then repurchase shares held by existing shareholders MIXI and Ceres by the end of October. If combining data from SBI’s own crypto exchange SBI VC Trade and Bitbank, as of April this year, the two firms had a total of around 2.92 million accounts and total custody assets of approximately 1.1 trillion yen. While different crypto exchanges disclose custody assets at varying time points, among Japan’s major industry competitors, bitFlyer held about 960 billion yen in custody assets as of the end of December 2025, and Coincheck had around 800 billion yen as of the end of March 2025.
3 minutes ago
US Secretary of State: Will not accept the claim that the Strait of Hormuz belongs to any country.
US Secretary of State Rubio stated, "We will not accept the assertion that the Strait of Hormuz belongs to any country." (Jinshi)
3 minutes ago
Iraqi government spokesperson: Efforts are underway to restore full oil export capacity.
A spokesperson for the Iraqi government stated that Iraq is working to restore its full oil export capacity and plans to increase its oil production to 7 million barrels per day in the coming years. (Jinshi)
XRP may be headed for another major correction phase in 2026 if historical price behavior repeats.
Crypto analyst ChartNerd called attention to this possibility in a post on X, pointing to XRP’s long-term Gaussian Channel structure.
He argued that XRP has historically revisited the middle regression band of the Gaussian Channel after extended rallies. According to him, a similar move could emerge again sometime next year.
Notably, this observation comes as XRP trades at $1.31, with growing risk of falling back into the $1.20 range.
Key Points Analyst ChartNerd says XRP could revisit key Gaussian Channel support levels sometime in 2026. XRP has historically pulled back to its middle trend band after major rallies, according to the analyst. XRP dropped 4% to $1.31 as broader crypto market weakness triggered fear-driven selling pressure. ChartNerd believes XRP could revisit $0.70 before potentially starting a move toward double-digit prices. Analyst Points to Historical Gaussian Channel Pattern ChartNerd shared a long-term XRP chart highlighting multiple instances where the asset eventually returned to the channel’s middle regression band following overheated price expansions.
The chart marks previous cycle tops with red circles, followed by pullbacks toward the green middle regression band, which the analyst described as XRP “coming home” to support levels after euphoric rallies.
According to the analyst:
“History tells us that at some point in 2026, XRP will more than likely come home to the middle regression band of the Gaussian Channel.”
The projected move would imply XRP eventually retracing from elevated levels back toward a historically significant trend support zone. Notably, XRP price has already dropped over 60% from its $3.65 peak.
XRP Drops Alongside Broader Crypto Market The bearish projection comes as XRP is already facing short-term pressure amid a wider crypto market decline. XRP has fallen 4% over the past 24 hours to trade around $1.31.
The decline closely tracked Bitcoin’s drop to $74,000, as macro-driven risk aversion triggered a broader sell-off across digital assets.
The total crypto market capitalization also slipped 2.37%, while the CoinMarketCap Fear & Greed Index dropped to 35, signaling “Fear” among investors.
Rather than being driven by an XRP-specific catalyst, the latest weakness appears tied to a broader market pullback affecting most major cryptocurrencies.
Breaking a 13-Year Structure ChartNerd added in a follow-up post that if this cycle is truly “different,” XRP would need to break the historical pattern that has shaped its market structure for more than 13 years.
He said the monthly Gaussian Channel should continue to be respected as long as the broader cyclical trend remains unchanged.
Long-Term Structure Still in Focus Ultimately, ChartNerd’s analysis focuses more on XRP’s broader long-term pattern than on short-term price swings.
Since XRP is still trading above the middle level, the analyst believes a similar pattern could emerge again as the current cycle develops into 2026.
Notably, ChartNerd expects XRP to revisit the $0.70 level during the next major downward move. According to his earlier analysis, this dip could mark the bottom before a potential rally toward double-digit price levels.
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.
