The start of the new week came as a sad one for traders as the bears take over the cryptocurrency market, correcting Bitcoin price to below the $9600 region. At the time of writing, the coin is trading at $9,627.
The current volatility in the market could be tied to the ongoing selling pressure and transfer of 600 BTC ($5,753,286) to BitMEX, which took place at block 617782. If the bearish movement continues, Bitcoin could dip further to $9170 and even $9000. At the time of this writing, however, BTC managed to recover and is pushing up to $9,700 once again.
Our bot just picked this up. Volatility incoming 📈📉
💵 A $5,753,286 (600.0000 BTC) deposit into #BitMEX has been confirmed at block 617782.
— TokenAnalyst (@thetokenanalyst) February 17, 2020
Altcoins, on the other hand, are facing significant price crashes and recorded significant losses. Although the market has started recovering from the sudden slump, Bitcoin Cash (BCH) and Ripple (XRP) are the biggest losers in the top 10. XRP retraced to $0.281 while BCH plunged to ($404). The crash in the altcoin markets briefly pushed Bitcoin dominance to over 63%. As the market started to recover, however, altcoins seem to reclaim grounds as the dominance is currently at 62.4%.
It’s interesting to see where the market goes from here. It appears that it may have been a healthy correction as over the past couple of weeks bulls were in complete control.
Total Market Cap: $276 B | Bitcoin Market Cap: $174 B | Bitcoin Dominance: 62.7%
Major Crypto Headlines Binance Applied For Operating License In Singapore, Confirms CEO Changpeng Zhao. Just a month after Singapore released its comprehensive regulation for crypto businesses, Binance has filed for operating license in the country, CZ revealed.
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IOTA Releases Safe Version of Trinity Desktop But Mainnet Remains Suspended. IOTA Foundation has launched a safe version of the Trinity wallet that will enable users to see their balances and transactions on Desktop. However, the Mainnet remains suspended until the project team finalizes their remedial plans.
Significant Daily Gainers and Losers Hedera Hashgraph (19.82%) HBAR, the native cryptocurrency of the Hedera Hashgraph, emerged as the most significant winner in the top 100 with 19.82% gains on the trading session. The coin’s performance today will definitely leave HBAR day traders basking in euphoria considering the current market situation. At the time of writing, the coin is trading at $0.051 with a market cap of $164,993,621. The Hedera Hashgraph network is growing rapidly, and research shows that the platform processed over 36 million transactions over the last six months.
Centrality (9.63%) With a 9.63% gain on the trading day, CENNZ wins the spot as a top performer over the last 24 hours. The increase in value today has pushed the coin’s price to $0.100654 and its market cap to $84,797,804. CENNZ is ranked as the 72nd largest cryptocurrency in the world according to market cap. The project has made a lot of progress since its launch. Centrality recently completed its Habanero stage on its roadmap and they are moving to the next phase known as Scotch Bonnet.
Bytecoin (-11.24%) On February 15, BCN made a significant price move and traded as high as $0.000690. However, following the bear market, the coin has slumped to a current price of $0.000456.
The last few days were quite turbulent for Bitcoin and the entire cryptocurrency market. BTC went to retest the support at $5,800, losing $800 of its dollar value in the process. However, it has since bounced, and it’s currently trading at another important support level at $6,300.
BTC/USD. Source: TradingView This weekend saw $5,850 as the current weekly low, and that’s far from being a coincidence. As Cryptopotato reported, the $5,900 area holds very strong support as it also represents the 38.2% Fibonacci retracement level from the massive drop on March 12.
Looking at the bigger picture, Bitcoin would still have to close affirmatively above $7,168 to overcome the slump from the night of March 12. Until this happens, the cryptocurrency is likely to be considered in a bearish trend.
The rest of the market is following in Bitcoin’s footsteps. Throughout the past seven days, most of the large-cap cryptocurrencies are also in the red. ETH is down about 2.8%, EOS is down 2.19%, and so forth. Ripple (XRP) is the recent winner, as it increased by 6.7% throughout the week despite the declining market.
Cryptocurrency Market Overview. Source: Coin360 Major Crypto Headlines Russia’s Legislative Ban On Cryptocurrency Delayed Because Of The Coronavirus. The unexpected outbreak of COVID-19 has an impact on legislative procedures in Russia. According to a government official, the law which would ban cryptocurrencies from being used as a means of payment will be delayed.
Bitcoin HODLers: BTC Daily Transfer Volume Hits 15-Months Low. March has clearly been a devastating month for Bitcoin as the cryptocurrency lost almost $3,000 of its value. Moreover, on-chain transactions on the Bitcoin network have also declined to their 15-months low, according to data from Bitinfocharts.
Analysis: Gold Price Should Be $8,900 (5x Higher) And Here Is Why. The global financial markets were seriously affected by the spread of COIVD-19. This also had an impact on the price of gold, which was also unusually turbulent. According to one model, however, its fair value right now should be around $8,900.
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ICON (14%) ICON (ICX) is another altcoin that marked serious gains throughout the past day. It’s up 14% against the USD and 15% against BTC. At $0.23 per coin, the cryptocurrency has a total market capitalization of $125.6 million and a daily traded volume of about $52 million. It’s the 38th largest cryptocurrency on the market.
Bytecoin (-14.4%) The past day hasn’t been particularly lucrative for Bytecoin as it becomes the worst-performing cryptocurrency over the last 24 hours. It lost about 14.4% against the USD and 13% against Bitcoin. BCN changes hands at $0.000196 and sits on a market cap of $36 million. Its daily traded volume is about $9,000, which is quite insignificant. BCN is the 85th biggest cryptocurrency on the market.
XRP price today sits near $1.34, barely changed over 30 days, down just 2.5%. Yet a shift in who holds XRP (XRP) supply suggests the freeze may not last much longer.
On-chain data reveals the token’s least convinced holders have exited while two whale cohorts added 130 million tokens. With price compressed inside a falling channel, XRP technical analysis points to a convergence that could finally force a direction.
A Falling Channel Keeps Price Frozen Below Key ResistanceXRP price has traded inside a falling channel on the 8-hour chart since its March 17 peak near $1.60. Every attempt to escape since then has failed at the same ceiling.
The most recent rejection came on April 7 and 8. XRP reclaimed the 20-period and 50-period Exponential Moving Averages (EMA), trend indicators that weight recent price moves more heavily. However, the 100-period EMA rejected the advance cleanly.
That level carries weight. Around March 15, XRP reclaimed the 100 EMA and it triggered another 11% rally to the $1.60 high. The same EMA now aligns with the channel’s upper trendline, creating a double XRP resistance wall.
Want more token insights like this? Sign up for Editor Harsh Notariya’s Daily Crypto Newsletter here.
XRP Falling Channel: TradingViewBeInCrypto recently covered a similar setup in Zcash. The token broke above its own falling channel and surged higher. XRP price prediction models suggest a comparable move is possible if this resistance falls.
Yet an EMA alone does not confirm buyer conviction. The answer lies in who is accumulating and who is walking away.
Weakest Holders Walk Out as XRP Whale Accumulation BuildsGlassnode data shows that speculative money is draining from XRP. The 1-day to 1-week HODL Waves cohort tracks the share of supply held by the newest holders. It peaked at 1.45% on April 4. That reading has since collapsed to 0.684%.
More than half of this short-term supply exited in under a week. In isolation, that looks bearish. Yet these are the holders who typically sell into every bounce and kill rallies before they start. Their exit may actually be clearing the noise.
HODL Waves Speculative Exit: GlassnodeMeanwhile, XRP whale accumulation has picked up from two separate cohorts. Santiment data shows the 1 billion-plus XRP cohort grew from 25.80 billion to 25.83 billion tokens since April 6. The 10 million to 100 million cohort followed a day later, rising from 11.31 billion to 11.41 billion. Together, both groups added roughly 130 million XRP, and only after the speculative traders started selling.
XRP Whale Accumulation: SantimentHowever, the buying remains gradual. A Glassnode cost basis heatmap reveals roughly 420 million XRP sitting in a supply cluster directly overhead, between $1.37 and $1.38.
XRP Supply Cluster Heatmap: GlassnodeIf that cluster’s holders begin selling into strength, whale buying alone may not crack through. The price chart reveals exactly where that wall sits.
XRP Price Levels That Decide Whether the Freeze BreaksThe 8-hour Fibonacci chart maps the convergence zone. The immediate levels are $1.35 ($1.349 to be precise) and $1.36. Reclaiming and holding both would be the first sign of life.
However, $1.38 is where the freeze lives or dies. The 100-period EMA, the channel’s upper trendline, and the 420 million XRP supply cluster all converge at that level. A clean close above $1.380 would confirm the XRP breakout. It would clear the channel, the EMA, and the supply wall simultaneously. Targets then open at $1.43, $1.51, and the March 17 high of $1.60.
Yet failure to reclaim $1.35 would keep XRP price frozen inside the channel. In that scenario, $1.32 becomes the next XRP support level at risk. A deeper breakdown exposes $1.28 ($1.279 to be exact), where buyer interest has previously held.
XRP Price Analysis: TradingViewThe 30-day freeze has compressed volatility to a breaking point. A close above $1.38 favors the whale thesis and opens a path toward $1.60. A rejection sends XRP back toward $1.28 and turns the freeze into a deeper slide.
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.
The bullish wave that began to form in late February appears to have stalled out, and XRP's recent attempt at recovery is losing structure.
The asset was able to create a series of higher lows and momentarily move closer to the $1.50 area, but there isn't any follow-through. The price is returning to hesitancy just below a significant resistance cluster rather than continuing. The rejection close to the short-term resistance trendline and the inability to maintain movement above it are the most telling indicators.
XRP/USDT Chart by TradingViewAlthough XRP broke out of a local ascending structure, it did not develop into a long-term trend. Instead of expansion, what you are currently witnessing is a flattening of momentum. Instead of committing, the market tested upside liquidity.
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Technically speaking, XRP is still below its main moving averages, such as the 100 and 200 EMA, both of which are still declining. It defines the larger trend, so it is not just a small detail. Any bullish move is, by definition, a counter-trend as long as the price remains below those levels, and they usually fail unless they are backed by significant volume and persistence.
Another flaw is the volume itself. The recent push higher did not result in any notable expansion, indicating that buyers were not sufficiently aggressive to flip market structure. Without that involvement, rallies are susceptible to swift reversals, which is precisely what appears to be occurring right now.
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The rounding bottom formation, which appeared promising, could now be invalidated. The entire recovery attempt will restart if XRP begins to lose the higher-low structure around $1.35-$1.38, and the market will probably return to consolidation or even continue the downtrend.
Although the likelihood is changing, there is still a small window of opportunity for XRP to stabilize and try another push. The bullish wave exhausted itself before regaining crucial resistance, so it did not enter a breakout phase.
Bitcoin is not yet readyWith the $80,000 mark getting farther and farther out of reach, Bitcoin's most recent price action is beginning to resemble a rejection phase rather than a recovery attempt.
Following a brief surge toward the mid-$70,000s, Bitcoin was unable to maintain its momentum and is currently stagnating just below a declining resistance trendline that has been capping the price for months.
The structure is obvious: Bitcoin is trading inside a tightening formation, but it keeps failing at lower highs rather than creating pressure for a breakout. The notion that sellers continue to control the larger trend is reinforced by the fact that every attempt to recover higher levels is sold into.
BTC/USDT Chart by TradingViewThe inability of Bitcoin to clearly break and hold above the 100 EMA is a serious warning sign for bulls, as it continues to be a significant barrier overhead.
As far as trends go, nothing has changed. Both the 100 and 200 EMAs, which slope downward, are still locked above the asset. Instead of a reversal, that alignment indicates a continuation bias.
The recent recovery from the $60,000-$65,000 range offered some short-term respite, but it has not resulted in a structural change. Nor does volume lend credence to a breakout story. Although there was some expansion during the initial rebound, there hasn't been consistent follow-through volume, indicating that the move does not have strong institutional support. In the short term, recovering $80,000 becomes increasingly implausible without that.
Expectations of a return to $80,000 should be lowered unless Bitcoin can confidently reclaim the 100 EMA and break above the declining resistance.
For the time being, BTC is essentially saying goodbye to that level. The likelihood that the market will turn its attention to consolidation or another downward leg increases with the length of time it remains below resistance.
Shiba Inu's worrisome signalAt a time when price action is still structurally weak, Shiba Inu is displaying a well-known but unsettling signal: increasing exchange netflows.
More than 10 billion SHIB are reportedly shifting toward centralized exchanges, according to the most recent data. This trend usually corresponds with rising sell-side pressure rather than accumulation.
In terms of price, SHIB remains trapped in a wider downward trend. The 100 and 200 EMAs serve as dynamic resistance overhead as the asset continues to trade below its major moving averages. The market has entered a low-volatility consolidation phase close to local lows after recent attempts to push higher were swiftly capped.
This type of compression frequently precedes a more significant move, but the likelihood of a downward continuation is skewed with increasing exchange inflows.
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Exchange netflows are important because they reveal intent. Tokens that leave exchanges typically indicate long-term holding behavior. Moving on to exchanges, particularly in large quantities, suggests getting ready to sell or reposition. Reaching the 10 billion mark is a significant liquidity event that expands the market's supply, not just noise.
The weak demand absorption is what makes this configuration more vulnerable. During recent bounces, volume has not significantly increased, indicating that buyers are not intervening forcefully enough to offset incoming supply. Even mild selling pressure can drive down the price in the absence of that demand.
This is not a time for investors to believe that the bottom is in. Although the sideways movement may appear stable, distribution rather than accumulation is more likely.
XRPL Commons, an organisation focused on nurturing a strong and vibrant XRPL ecosystem, has launched "Make Waves on XRPL," a 90-day competition offering 50,000 $XRP to developers who ship live applications on the XRP Ledger mainnet. The contest runs from June 22 to September 21, 2026.
How the Competition WorksThe format deliberately differs from a classic hackathon. Participants are expected to deploy real applications on the XRPL mainnet. No prototypes are accepted. Products must demonstrate real users and measurable on-chain volume. Weekly webinars and office hours run on Wednesdays and Fridays throughout the programme, while a weekly leaderboard evaluates user growth and blockchain activity on an ongoing basis. Target categories include payments, DeFi, developer tools, and consumer apps.
A Path Into the Aquarium IncubatorThe competition also serves as a pipeline into a longer-term programme. Teams with particularly strong projects may subsequently be admitted to the Aquarium, XRPL Commons' incubator. Since 2023, XRPL Commons has hosted the Aquarium, a unique incubator programme based in Paris, France, supporting startup projects building within the XRPL ecosystem. The organisation supports builders through training and active collaboration, with a focus on innovative XRPL projects.
The competition's emphasis on live, production-grade applications reflects a broader push across the XRPL ecosystem to move beyond theoretical development. Since 2021, ecosystem efforts have included hackathons, builder bounties, XRPL Grants, and the XRPL Accelerator, supporting nearly 200 projects worldwide across developer infrastructure, payments, DeFi, tokenization, AI, gaming, and enterprise financial applications.
Sources:
XRPL Commons – Official Website
The Aquarium Incubator – XRPL Commons
Supporting Innovation on the XRP Ledger – Ripple
Crypto markets hit another new 2019 high yesterday; Bitcoin holding gains, TRX moving up ETH, XRP, LTC, BCH and EOS falling back. Market Wrap It has been a wonderful weekend for crypto markets, the best so far this year. Bitcoin’s push through five figures has lifted total market capitalization to a one year high of over $325 billion. Monday morning markets remain buoyant as BTC has held on to most of its gains yet again.
The Bitcoin parabola has continued as it topped out at $11,250 during Sunday trading. It was the second time over the weekend that BTC broke above $11k but it could push no further and fell back twice. Bitcoin is currently starting to consolidate around the $10,750 level during Asian trading today. Daily volume peaked at $30 billion over the weekend which pushed market cap to $200 billion.
Ethereum also got a lift from its big brother as it finally broke above the $300 barrier. ETH hit a top of $320 yesterday before pulling back a couple of percent today to settle at around $305. Gains were solely on the back of Bitcoin as ETH remains slow to recover in comparison.
Altcoin Outlook The crypto top ten is starting to correct during Monday trading across Asia. Most altcoins are shedding their weekend gains with XRP, Litecoin, Bitcoin Cash, and EOS dropping 4 percent each. Only Tron has made a gain today with 4 percent added to reach $0.038. Justin Sun did not miss the opportunity to point out that TRX has flipped Stellar for a top ten slot as market cap topped $2.5 billion:
Back to Top 10 now. #TRON #TRX $TRX #BitTorrent #BTT $BTT pic.twitter.com/0OevisDE6M
— H.E. Justin Sun 👨🚀 🌞 (@justinsuntron) June 24, 2019
The top twenty is all red today as altcoins drop gains and remain weak. Cosmos and IOTA have dumped over 4 percent while Stellar and NEO are close behind. Monero and LEO have remained flat on the day.
FOMO: Lambda Launches Today’s crypto top one hundred pump is going to LAMB which has surged by 48 percent to reach an all-time high of $0.17. The Chinese decentralized data storage token has recently been listed on Bittrex and OKEx which is likely to be driving momentum.
Aeternity is also spiking at the moment with a 13 percent boost and Hedge Trade is the third altcoin with a double digit gain. Insight Chain is getting dumped hard as it falls to the bottom of the pile losing 30 percent. MaidSafeCoin and KuCoin Shares are also in pain with 10 percent dropped a piece.
Total market cap 24 hours. Coinmarketcap.com Total crypto market capitalization hit a one year high of $336 billion yesterday. Bitcoin’s push above $11k has contributed to most of it and altcoins dumping today has dropped total cap back to $324 billion. Daily volume peaked at almost $100 billion on Sunday but has since cooled off as markets correct slightly.
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.
Last week was quite impressive for Bitcoin as the cryptocurrency recorded a bullish reversal from a low of $6,750 to $7,800 in two days. The bulls were unable to defend the new region, swinging the price back to $7,230 during today’s early hours.
Bitcoin is currently down about 1.29% on the day as it trades at around $7,316 at the time of this writing.
BTC/USD. Source: TradingView The altcoin market, on the other hand, is in a mixed state as some cryptocurrencies are recording slight gains while others are on a disappointing trend. For example, Ether (ETH), is up by 0.20% and trading at $148 while XRP, despite its latest listing on Japan’s largest crypto exchange, is recording losses of 1.14%, trading at $0.218.
It’s also worth noting that Tether (USDT) – the most popular and widely used stablecoin, is currently the world’s fourth-largest cryptocurrency. This is a sign that altcoins are seemingly in a struggle as they lose their positions against a stablecoin, the market cap of which is only increased when Tether issues new USDT.
The total market cap is $198 billion | Bitcoin’s market cap is $132 billion | BTC dominance: 66.4%.
Major Crypto Headlines Huge Responsibility: Coinbase Holds Almost 1 Million Bitcoins. Considering that crypto exchanges are the major target of hackers, Coinbase seems to have a huge responsibility on its shoulder as new reports reveal that the US-based exchange has custody of 966k bitcoins in its wallets.
Japan’s Largest Crypto Exchange, BitFlyer, Adds Support For XRP. Good news for XRP fans and traders as Japanese exchange BitFlyer has officially announced that Ripple (XRP) will be available on its Altcoin Market for trading as of Monday, December 2. Yet, the price failed to react positively, and XRP is down during today’s trading session.
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Significant Daily Gainers and Losers Ebakus (+340.47%) Ebakus (EBK) is in the green zone today with a massive gain over the last 24 hours. Although the cryptocurrency started the trading session with a price around the $0.007200 region, it is now trading at $0.031521, giving traders a remarkable 340% profit on the day. EBK holds a market cap of $2,846,200, with a daily trade volume of $190,944.
Blockium (+84%) A massive 84% profit today has placed Blockium (BOK) as the second most significant gainer over the last 24 hours. BOK is the native token of Blockium, a project that describes itself as a unique P2P financial gamification platform that unites stock and crypto traders. The uptrend movement today shows a recovery from its last week low of $0.000537 to $0.001669. At the time of this writing, the token is exchanging hands at $0.001094 with its 24h trading volume at $203,931.
Fusion (FSN -51%) Today’s trading session is quite sad for FSN traders and holders as the cryptocurrency has lost over 50% of its value in the last 24 hours. FSN’s 7-day chart shows that the token has been on a downward decline falling from a price of $1.2 in the past week to a current price of $0.2.
The crypto market has just experienced one of the most violent shocks of the year, illustrating once again the fragility of positions heavily linked to leverage effects in the face of macroeconomic uncertainties and technological disruptions. In just a few hours, more than 100 billion dollars of global market capitalization disappeared. This massive purge occurs in a context of global technological rout and regulatory tightening and plunged the Crypto Market Fear & Greed index into an “extreme fear” zone, with a score of 23.
In brief The crypto market suffered a brutal correction, with more than 100 billion dollars wiped out in a few hours and a marked return of fear across the sector. A wave of liquidations exceeding 720 million dollars hit traders using leverage, causing the capitulation of thousands of investors and a widespread drop in major digital assets. Bitcoin, Ethereum and leading altcoins recorded sharp declines, while spot crypto ETFs suffered significant capital outflows, increasing selling pressure. New American initiatives in favor of quantum computing revive concerns about the future ‘Q-Day’, a scenario in which quantum computers could challenge the security of current cryptographic systems. The capitulation of crypto assets The first act of this crisis is characterized by liquidation metrics of a magnitude rarely seen in recent months, which explains the shift of the crypto market into extreme fear. According to market data, more than 720 million dollars of positions were wiped out in 24 hours across all main assets: bitcoin, Ethereum, XRP, Solana, Dogecoin… Nearly 145,000 traders fell victim to this wave of forced selling.
The losses mostly hit buyers using leverage: 610 million dollars of long positions liquidated, versus 110 million dollars for short positions. As proof of the violence of the bearish wick, 182 million dollars of buying positions were erased in just one hour. The Hyperliquid platform also recorded the biggest individual liquidation on the ETHUSD contract, valued at 15.34 million dollars. On the network, on-chain analyst Axel Adler Jr. has summarized the situation : “weak hands capitulate while strong hands did not even flinch”.
Here is the factual breakdown of losses recorded in the Spot market :
Bitcoin (BTC) : the price heavily stumbled to reach an intraday low of 61,893 dollars, breaking its critical 200-week moving average (200-WMA) at 62,000 dollars, generating 216 million dollars of liquidations alone ; Ethereum (ETH) : the market’s second crypto plunged below the 1,650 dollar mark to hit a floor at 1,639 dollars ; Major altcoins : XRP fell more than 3 % to 1.10 dollars, while other assets like BNB, Solana, Cardano or Dogecoin recorded corrections ranging from 3 to 7 % ; Institutional flows : Bitcoin and Ethereum spot ETFs experienced significant net capital outflows, with BlackRock’s IBIT ETF alone seeing 170 million dollars of redemptions. Faced with this massive unwind of positions, analyst Ted Pillows warned about the need to preserve the technical support zone between 61,000 and 62,000 dollars, predicting that a “cluster drop around the 61,200 dollar level” might occur before any hope of a rebound.
Macro-economic contagion and global monetary tightening Beyond the technical crisis, this collapse finds its deep causes in a combination of macroeconomic factors and major political decisions. Traditional financial markets have effected a strong contagion. The Korean KOSPI index experienced a historic collapse of nearly 10%, its third largest drop ever, while the Nasdaq 100 lost 2.60% in pre-opening.
This global risk aversion is explained by the rise to 4.5% of the 10-year US Treasury bond yield and the strength of the dollar index (DXY), which reached 101.17, its highest level since May last year. Investors, worried about peace talks between the United States and Iran and fearing future interest rate hikes by the Federal Reserve, eagerly await the PCE inflation figures. The diagnosis for the analysis entity Bit Official is clear: “the weakness of both markets can therefore be explained by the Fed being less accommodative since October 2025, with the AI narrative offering only a practical explanation for the correction”.
The specter of the “Q-Day” and the threat of quantum computing A fundamental event has shaken investors’ long-term confidence: US President Donald Trump signed executive orders aimed at massively boosting quantum computing to ensure national security. The White House officially announced its intention to “relaunch a national innovation effort in quantum technologies, to preserve national security and stimulate American growth in a key industry sector”. This direction places the crypto industry against a critical countdown: 2030, the date by which the US government has imposed the migration of its own critical systems to post-quantum standards.
Experts fear the advent of a “Q-Day” by 2030, the apocalyptic scenario in which quantum computers would be able to break current standard encryptions. This fear is all the stronger as Google has issued a major warning, highlighting that large-scale quantum machines would be able to break standard cryptography by 2029. Thus, some networks like Solana or XRP already plan to integrate quantum upgrades in their roadmaps for 2028, but a study indicates that nearly 7 million bitcoins could be threatened if the flagship crypto does not update its cryptographic signatures in time.
This triple constraint, monetary on one side, technological and political on the other, sketches a complex outlook and invites nuanced analysis. In the short term, the market’s ability to absorb liquidations will depend heavily on this week’s US economic indicators, which will guide Fed policy. Ultimately, the blockchain industry is forced to accelerate its transition to a post-quantum architecture to preserve its promise of inviolability. This crash, while temporarily eliminating excess speculation and the leverage of “weak hands”, forces developers and institutions to look beyond price charts to meet an inevitable industrial and security challenge.
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Luc Jose A.
Diplômé de Sciences Po Toulouse et titulaire d'une certification consultant blockchain délivrée par Alyra, j'ai rejoint l'aventure Cointribune en 2019. Convaincu du potentiel de la blockchain pour transformer de nombreux secteurs de l'économie, j'ai pris l'engagement de sensibiliser et d'informer le grand public sur cet écosystème en constante évolution. Mon objectif est de permettre à chacun de mieux comprendre la blockchain et de saisir les opportunités qu'elle offre. Je m'efforce chaque jour de fournir une analyse objective de l'actualité, de décrypter les tendances du marché, de relayer les dernières innovations technologiques et de mettre en perspective les enjeux économiques et sociétaux de cette révolution en marche.
DISCLAIMER
The views, thoughts, and opinions expressed in this article belong solely to the author, and should not be taken as investment advice. Do your own research before taking any investment decisions.
The crypto market is in cautious consolidation on June 24, 2026, with a clear split emerging between assets sensitive to the CLARITY Act and those driven by protocol-level catalysts. Bitcoin is holding at $62,491, up 0.49% — recovering from yesterday’s $62,000 intraday low after $700 million in liquidations. Ethereum is at $1,664, up 0.99%, staying green for the sixth consecutive day ahead of tomorrow’s BitMine Russell 1000 inclusion. XRP is the standout laggard — down 1.4% to $1.08 after a sharp afternoon selloff triggered by CLARITY Act passage odds collapsing to 48% on Polymarket. Solana holds $69.09 (+0.65%) and BNB recovers to $575 (+0.71%). The dominant theme today: the Russell 1000 catalyst lands tomorrow, the CLARITY Act is in crisis, and the market is pricing both simultaneously.
Key Takeaways Bitcoin at $62,491, up 0.49% — holding above $62,000 after yesterday’s liquidation dip Ethereum at $1,664, up 0.99% — sixth consecutive green day, BitMine Russell 1000 inclusion tomorrow XRP at $1.08, down 1.4% — sharp afternoon selloff as CLARITY Act odds drop to 48% on Polymarket Solana at $69.09, up 0.65% — pulling back from $74 highs but holding above $68 support BNB at $575.21, up 0.71% — steady recovery, cleanest chart in the top 5 BitMine Russell 1000 inclusion: tomorrow, June 26 — estimated $2.15B in forced passive fund buying CLARITY Act: Polymarket 48%, Galaxy Research “roughly even” — Senator Lummis warns: miss August = 2030 AssetPrice24hMarket CapVolume 24hBitcoin (BTC)$62,491+0.49%$1.25T$23.4BEthereum (ETH)$1,664+0.99%$200.84B$8.28BXRP$1.08-1.4%$67.36B$1.36BSolana (SOL)$69.09+0.65%$40.1B$1.87BBNB$575.21+0.71%$77.52B$920.38M Bitcoin: Defending $62,000 After Yesterday’s $700M Liquidation Shock Bitcoin is trading at $62,491 — a 0.49% gain — after the most violent session since the post-FOMC selloff. Yesterday’s intraday dip to ~$62,000 triggered more than $700 million in crypto liquidations across all assets. The 24-hour chart today shows the aftermath: BTC opened near $62,330, dipped twice toward $62,000 in the early hours, then recovered steadily to $62,500–$63,000, where it has consolidated through the afternoon.
The structure is defensive. Volume at $23.4 billion — down 25.62% — reflects reduced urgency after yesterday’s panic. Buyers absorbed the liquidation wave; the question now is whether they can push price back above the $63,500–$64,000 resistance zone that capped last week’s recovery.
The CLARITY Act deterioration is the primary headwind. With passage odds at 48%, the $15 billion ETF inflow scenario that underpinned Citi’s $143,000 year-end target is now a coin flip. Bitcoin’s price is not directly legislative — it has commodity classification regardless — but institutional sentiment is correlated with the broader regulatory environment that CLARITY Act passage would create.
Ethereum: Six Green Days, Russell 1000 Tomorrow Ethereum is the standout performer of the week. At $1,664, up 0.99%, ETH has now posted six consecutive green days — an outperformance streak that has no parallel among major assets this month. The 24-hour chart shows a constructive pattern: ETH opened near $1,649, dipped briefly to that level twice before recovering cleanly to $1,665–$1,675, consolidating near the top of the range through the afternoon.
The structural story is unchanged and intensifying. BitMine bought 52,203 ETH on June 22, bringing total holdings to 5.67 million ETH — 4.7% of all circulating supply, valued at $9.8 billion. Tomorrow’s Russell 1000 inclusion forces passive index funds tracking $4+ trillion in benchmarked assets to buy BMNR stock, with analysts estimating up to $2.15 billion in forced inflows.
Separately, the Ethereum Foundation confirmed a 40% spending cut — reducing the structural ETH sell pressure that has historically come from foundation treasury sales. Combined with the 32% staking ratio and BitMine’s accumulation, the liquid float in ETH is compressing.
Volume at $8.28 billion — down 33.38% — is lower than yesterday but the direction is clean. Low volume on a green day above key support ($1,649 held twice) is accumulation, not speculation.
XRP: CLARITY Act Odds Collapse Triggers Afternoon Selloff XRP is the worst performer in the top 5 today — down 1.4% to $1.08 — and the 24-hour chart explains exactly why. XRP held near $1.10–$1.11 for most of the session, then sold off sharply in the early afternoon to $1.08. The timing matches the CLARITY Act news flow: Galaxy Research moved passage odds to “roughly even” and Polymarket dropped to 48%, down from 74% a month ago.
XRP is the asset most directly exposed to CLARITY Act legislative risk. Passage permanently codifies XRP’s commodity classification into federal law — unlocking US bank custody and the pension fund/sovereign wealth fund capital that currently cannot hold XRP under agency-guidance-only classification. Standard Chartered and JPMorgan both project $4–8 billion in ETF inflows in a passage scenario. A slip to 2030 removes that catalyst entirely for this cycle.
The $1.08 level is now testing the lower bound of the June range. Critical support below is $1.05, then the psychological $1.00 floor. Exchange reserves remain at 7-year lows — 1.6 billion tokens, half the October 2025 peak — meaning the thin float amplifies any directional move in either direction.
Solana: Pulling Back from $74 Highs, Holding Key Support Solana is down from its $74 weekly high to $69.09, up 0.65% on the day. The 24-hour chart shows a choppy session: SOL opened near $68.92, tested $68.25 on two brief dips in early trading, then recovered steadily to $69.50–$70.00 before easing back to $69.09 into the afternoon.
The weekly picture remains the strongest of any top asset: SOL has gained approximately 8% over 7 days, outperforming BTC, ETH, XRP, and BNB. The pullback from $74 to $69 reflects normal profit-taking after a sharp weekly move rather than any structural reversal.
Key support is at $68 — the intraday floor that held today. The 50-day moving average at approximately $71.96 is the technical resistance that needs to be reclaimed for the weekly trend to extend further. Volume at $1.87 billion, down 26.36%, confirms the session is consolidative rather than directional.
BNB: Cleanest Chart in the Top 5 BNB is at $575.21, up 0.71% — the most consistent performer today on a risk-adjusted basis. The 24-hour chart shows BNB opened near $571.64, dipped briefly on the open, then trended steadily higher through $574, $576, $578, $580, before settling near $575–$576. No sharp dips, no liquidation spikes — just a clean grind higher throughout the session.
Market cap at $77.52 billion with volume of $920.38 million — the lowest Vol/Mkt Cap ratio (1.18%) in the snapshot, confirming this is low-volatility accumulation rather than speculative trading. Treasury holdings at 686,070 BNB. BNB’s stability today reflects Binance’s structural market share and BNB Chain’s continued fee and utility demand.
The Two Catalysts That Define This Week Russell 1000 inclusion — tomorrow, June 26. BitMine joins the Russell 1000 at market close. Passive index funds must buy BMNR proportionally. Analysts estimate $2.15 billion in forced buying. BitMine’s NAV is almost entirely ETH. Watch BMNR stock and ETH price correlation on inclusion day — a muted reaction suggests the market priced it in; a sharp move signals the $2.15B estimate was underweighted.
CLARITY Act — 48% odds, August deadline. The bill needs 60 Senate votes and a floor commitment before the August recess. Galaxy Research moved from 75% to roughly even. Polymarket at 48%. Senator Lummis: missing August = 2030. A Senate leadership statement committing to a floor vote would immediately reverse the odds. XRP is the asset most directly affected on both upside (passage) and downside (failure). BTC is indirectly affected through the institutional sentiment channel.
What to Watch This Week June 26: BitMine Russell 1000 inclusion — BMNR stock + ETH price on the day Senate calendar: Any floor vote commitment from leadership is the most important market event for XRP $62,000 BTC floor: Second consecutive day testing that level — a break below opens $61,620 and potentially $59,130 $1.00 XRP: The psychological floor that has held every 2026 pullback — now in range if CLARITY Act news deteriorates further
A longstanding parallel in the crypto payments arena has been disrupted as Stellar and XRP, once closely correlated, now move in opposite directions. Since late May 2026, Stellar has seen a robust upward trend, while XRP continues to slide. The divergence is tied to fresh, remarkable data from the asset tokenization sector and contrasting technical outlooks for both blockchains.
Tokenization data accelerates the splitAt the heart of this shift is a headline development: DTCC, a key post-trade infrastructure provider for US financial markets, announced plans to tokenize a wide range of assets—including equities, ETFs, and US Treasury bonds—on the Stellar blockchain in the first half of 2027. With its pivotal role in securities clearing and safekeeping, DTCC’s move is seen as a significant endorsement of Stellar’s technological edge.
Mini glossary: Asset tokenization refers to converting traditional financial products like stocks, bonds, or funds into digital representations on blockchain networks. RWA means “real-world assets”; in this sector, on-chain transaction volume and the investor base are key performance indicators.
According to RWA.xyz data, although the XRP Ledger (XRPL) hosts more projects, Stellar has pulled ahead in capital size and user activity. While XRPL counts 302 RWA projects compared to Stellar’s 68, asset value deployed on Stellar has swelled to $2.83 billion—a surge of 21.62 percent in the last month. For XRPL, the figure has fallen to $360.32 million, marking a 10.83 percent decline.
RWA data reveal that project count alone isn’t decisive. Stellar has seen stronger momentum lately when it comes to capital flows, transfer activity, and its investor base.
The 30-day RWA transfer volume reinforces this point. Stellar’s saw a remarkable 142.34 percent rise to $661.84 million, whereas XRPL lagged behind at $44.93 million. The gap is also widening among investors: Stellar’s number of RWA holders climbed by 44.75 percent to reach 17,803 addresses, in stark contrast to XRPL’s 122 addresses.
Notable performance gap in price actionMarket pricing has echoed on-chain developments. Since the end of May 2026, Stellar’s XLM token has rallied by roughly 49.44 percent, as XRP tumbled 15.78 percent over the same period. Still, XRPL is not entirely left behind: in overall stablecoin volume, it maintains a lead at $922.42 million versus Stellar’s $296.24 million. Over the last 30 days, XRPL also outpaced Stellar in stablecoin transfer volume, logging $5.11 billion to Stellar’s $4.27 billion.
What do technical charts suggest?On the daily chart, XLM displays a powerful surge in late May, with prices expanding past the upper Bollinger Band and hitting around $0.29. Its RSI cooled from overbought territory to 57.64, suggesting a period of consolidation following the steep rally.
XRP’s chart, on the other hand, reflects ongoing pressure. In early June, the price slipped below the middle Bollinger Band, confirming a tilt toward sellers. At the time of reporting, XRP trades near $1.13, squeezed between the $1.1739 middle line and the $1.0526 lower band. The RSI, now at 39.34, shows buyers are weak but the indicator is nearing oversold territory.
A narrowing Bollinger Band on XRP signals a buildup of momentum before a decisive price move. If the coin manages to hold above the psychological barrier at $1.10 and the lower band at $1.0526, a relief rally could be possible. Should these supports falter and capital continue shifting toward the Stellar ecosystem, XRP may first retest the $1.0526 level and then challenge its major support at $1.00.
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.
Franklin Templeton, one of the leading names in traditional finance, has unveiled a dedicated crypto assets division following the completion of its acquisition of 250 Digital. The New York-based investment giant announced that its new unit, named Franklin Crypto, will focus on serving sovereign wealth funds, pension funds, and other institutional investors seeking exposure to digital assets.
Integration of 250 Digital kickstarts new eraWith $1.78 trillion in assets under management, Franklin Templeton finalized the acquisition of 250 Digital after reaching an agreement in April. 250 Digital, originally spun off from CoinFund earlier this year, had established itself as a specialized crypto investment operation. This move signals Franklin Templeton’s commitment to formalizing its presence in the digital assets landscape and expanding its capabilities within the sector.
Rather than remaining on the sidelines with limited experimental initiatives, Franklin Templeton is now positioning itself as a full-fledged player in the crypto space. According to their statement, the firm is actively pursuing crypto strategies based on technologies such as XRP Ledger, Stellar, Polygon, and Aptos.
Glossary: XRP Ledger is known as a blockchain network primarily focused on payments and asset transfers. Stellar similarly centers on cross-border transactions, whereas Polygon and Aptos are widely used networks for broader application development.
Industry veterans lead the new unitThe newly formed Franklin Crypto division will be led by Christopher Perkins, a veteran with extensive experience in the crypto industry. On the investment side, Seth Ginns will take on the role of Chief Investment Officer. Both will work closely with Tony Pecore from the Franklin Templeton Digital Assets team to steer the new organization.
Franklin Templeton is allocating its own capital to the liquid cryptocurrency strategies previously managed by CoinFund, highlighting the firm’s increasingly institutional approach to digital assets.
An important detail in the company’s statement concerns the financing of the acquisition, with a portion carried out using BENJI tokens. BENJI represents the on-chain version of the Franklin OnChain U.S. Government Money Fund.
ETF activity remains strongFranklin Templeton has been especially active in the crypto field in recent years. Earlier this week, the firm filed applications for two new Bitcoin-linked exchange-traded funds. The planned products—Franklin US Equity Bitcoin DRIP Index ETF and Franklin US Innovation Bitcoin DRIP Index ETF—aim to offer investors a mix of 95% U.S. equities and 5% Bitcoin.
Franklin Templeton also drew attention last year with the launch of its XRP ETF. During the trading week from June 14 to June 18, the firm’s spot XRP ETF, XRPZ, recorded the largest net inflow in its category, attracting $6.7 million of net investments over five days.
Based in the United States, Franklin Templeton is recognized as a longstanding and reputable financial institution in asset management. Its recent steps underscore a strategy to broaden the visibility and reach of its digital asset products and investment solutions.
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.
Ripple (XRP) and Stellar (XLM) remain under selling pressure on Tuesday as cautious market sentiment continues to weigh on the broader crypto market. XRP struggles to reclaim the upper boundary of its falling channel, while XLM extends its decline for a fifth consecutive day. Weak on-chain activity and cautious derivatives metrics raise the risk of a deeper correction.
Derivatives metrics support a fading interest among tradersDerivatives metrics support a negative outlook for XRP and XLM. XLM’s futures Open Interest (OI) dropped to $2.70 billion on Tuesday after a mild rise in early June but has been continuously falling since October 2025. This drop in OI reflects waning investor participation and projects a bearish outlook.
Similarly, XLM futures OI dropped to $175 million on Tuesday after sharp rises at the end of May and in mid-June, and has since steadily declined, supporting a bearish outlook.
XRP open interest chart. Source: Coinglass
XLM open interest chart. Source: CoinglassIn addition, CoinGlass’ long-to-short ratio for XRP and XLM read 0.87 and 0.77, respectively, on Tuesday, nearing their lowest levels in over a month. This ratio, being below 1, reflects bearish sentiment in the market, as more traders are betting the asset’s price will fall.
XRP long-to-short ratio chart. Source: Coinglass
XLM long-to-short ratio chart. Source: CoinglassMixed data in on-chain caps upside moveCryptoQuant’s summary data shows mixed sentiment. XRP’s spot markets show large whales' orders with neutral conditions in other metrics, supporting a potential recovery.
However, XLM shows an overheating condition in the spot and futures markets, with rising retail activity and sell-side dominance, hinting at bearish sentiment among traders and capping any potential recovery.
XRP summary data. Source: CryptoQuant
XLM summary data. Source: CryptoQuantMeanwhile, SoSoValue data shows some signs of optimism. Spot Exchange Traded Funds (ETFs) recorded an inflow of $5.31 million on Monday, marking the second consecutive day of inflow since last week. If this inflow trend continues and intensifies, XRP could see a recovery ahead.
Total XRP spot ETF net inflow daily chart. Source: SoSoValueXRP technical outlook: Momentum indicators show early bearish signsXRP price trades at $1.128 on Tuesday after being rejected from the upper boundary of the falling channel in the previous week. XRP remains under clear bearish pressure, holding well below the 50-day, 100-day, and 200-day Exponential Moving Averages (EMAs) at $1.248, $1.345, and $1.552, respectively, reinforcing a downside bias. At the same time, the price stays capped beneath this bearish stack.
Momentum has stabilized, with the Relative Strength Index (RSI) hovering near 39 and Moving Average Convergence Divergence (MACD) in mildly positive territory but flattening, suggesting only tentative recovery attempts within a still-dominant downtrend channel.
On the topside, initial resistance aligns with the upper boundary of the downward parallel channel around $1.199, where sellers are likely to defend the recent breakdown. Above that, the 50-day EMA at $1.248 is the next hurdle before the horizontal barrier at $1.300, followed by the 100-day EMA at $1.345 and the 200-day EMA at $1.552, ahead of a more distant resistance level at $1.900. With no nearby technical floors visible below the current price, any renewed selling would leave XRP vulnerable to finding fresh support at uncharted lower levels unless it can quickly reclaim the $1.199 area.
XLM technical outlook: Technical indicators show bearish signsXLM trades at $0.1994 on Tuesday, holding below the 200-day EMA at $0.2028 and just under the 61.8% Fibonacci retracement at $0.2001, which together cap the upside and keep the near-term bias mildly bearish. XLM remains above the 50-day EMA at $0.1926 and the 100-day EMA at $0.1865, suggesting an ongoing consolidation inside a broader corrective phase. At the same time, the RSI at 48 is neutral, and the MACD has slipped slightly into negative territory, hinting that upside momentum is fading.
On the topside, initial resistance is aligned at the 61.8% Fibonacci retracement at $0.2001, followed closely by the 200-day EMA at $0.2028; a sustained break higher would expose the 50% retracement near $0.2188 and then $0.2376 and $0.2607, corresponding to the 38.2% and 23.6% Fibonacci retracements of the latest swing.
On the downside, immediate support emerges at the 50-day EMA at $0.1926, ahead of the 100-day EMA at $0.1865; a deeper pullback would turn focus toward the horizontal floor around $0.1774 and the 78.6% Fibonacci retracement at $0.1735, with more distant supports at $0.1421 and the cycle low area near $0.1395.
(The technical analysis of this story was written with the help of an AI tool.)
The headline reads like a fresh defection. The timeline tells a different story, and the real loss for XRP is smaller and stranger than the framing suggests.
Summary
MoneyGram’s Ripple partnership ended years before MGUSD launched on Stellar. XRP loses little mechanically because MoneyGram was no longer using its bridge flow. The symbolic damage matters because MoneyGram was once a flagship XRP use case. The bigger threat is stablecoins replacing the bridge-token role XRP was built to serve. MoneyGram launched its own dollar stablecoin, MGUSD, on the Stellar blockchain. The product is built into the MoneyGram app as a non-custodial wallet, issued through Stripe’s Bridge platform, with smart contracts handled by M0 and wallet security by Fireblocks.
The pilot opened in the United States, with a global rollout planned across MoneyGram’s network of roughly 500,000 cash-in and cash-out locations. The crypto press framed it the way it always does: MoneyGram picked Stellar, MoneyGram snubbed Ripple, XRP just lost a giant.
The framing is tidy and mostly wrong about the timing. To work out whether XRP actually loses anything, you have to separate three things that the headline blends together: what MoneyGram built, when MoneyGram and Ripple actually parted ways, and what XRP the token was ever getting from that relationship in the first place.
What MoneyGram actually launched MGUSD is a dollar-pegged stablecoin, one more entry in a crowded field, but the way it is wired tells you what MoneyGram is trying to do.
The token is issued through Stripe’s Bridge, the stablecoin infrastructure platform Stripe acquired to let companies mint and manage dollar-backed tokens without standing up the machinery themselves. The smart-contract layer comes from M0, a stablecoin platform that gives issuers a shared standard to build on.
Wallet security runs through Fireblocks, the custody and key-management provider that large institutions use to hold digital assets. The wallet itself lives inside the MoneyGram app and is non-custodial, which means the user holds the keys instead of MoneyGram holding the balance on their behalf.
The strategic piece sits underneath all of that. MoneyGram is one of the largest cash remittance networks on earth, with physical locations in almost every country that receives money from workers abroad.
By launching a stablecoin tied to that network, MoneyGram is trying to bridge digital dollars and physical cash, so a sender can move MGUSD across a chain in seconds and a recipient can collect local currency at a counter down the road. The stablecoin is the digital rail. The 500,000 locations are the off-ramp.
That combination, not the choice of chain, is the actual product.
There is a money motive underneath the strategy that deserves its own line, because it explains why so many firms suddenly want their own stablecoin. A stablecoin issuer holds reserves against the tokens in circulation, and those reserves, usually short-dated government debt and cash, earn yield.
The issuer keeps that yield. For a company that can put a stablecoin into the hands of millions of users, the float becomes a revenue stream that grows with adoption and costs little to run once the infrastructure exists.
MoneyGram moving customers onto MGUSD is not only about faster transfers. It is about capturing the interest on the dollars those customers hold, money that previously sat with someone else.
When you understand that issuing a stablecoin is a way to earn yield on your users’ balances, the rush of payment firms toward their own tokens stops looking like a crypto fad and starts looking like a straightforward grab for a new margin. That incentive is exactly what makes the disappearance of the bridge-token role so durable, since the firms have a direct financial reason to own the dollar instead of renting a bridge.
The history the headline skips Now the part the word “dumped” quietly assumes, which is that MoneyGram and Ripple were partners until this announcement. They were not.
MoneyGram and Ripple ran one of the most cited partnerships in crypto between 2019 and 2021. Ripple invested around $50 million in MoneyGram and the two firms integrated Ripple’s On-Demand Liquidity service, the product that used XRP as a bridge asset to move value across borders without pre-funded accounts in every destination currency.
For a stretch, MoneyGram was the marquee proof that XRP had a real cross-border use case with a household-name money-transfer firm. That arrangement ended in 2021.
As Ripple’s legal fight with the United States Securities and Exchange Commission heated up, MoneyGram stopped using the On-Demand Liquidity service and the commercial relationship wound down. Ripple later exited its equity stake.
By the time MGUSD arrived in 2026, MoneyGram had not been routing payments through XRP for years.
NEW: MoneyGram introduces MGUSD native USD stablecoin on Stellar. Built with Stablecoin, M0 and Fireblocks. Now live in the U.S pic.twitter.com/N4CeRg5sHz
— crypto.news (@cryptodotnews) June 3, 2026 It is worth understanding what that On-Demand Liquidity arrangement actually did, because the mechanics explain both why it looked promising and why it proved fragile. Cross-border money transfer traditionally requires a firm to hold pre-funded accounts in every destination currency, dead money parked around the world so a payout is always ready.
On-Demand Liquidity removed that requirement by converting the sending currency into XRP, moving the XRP across the corridor in seconds, and converting it into the receiving currency on arrival. The bridge token meant a firm did not have to lock up cash in dozens of countries.
For a treasury department, freeing that trapped capital was the entire pitch, and MoneyGram was the showcase for it.
The fragility came from two directions. First, regulatory risk attached itself to XRP during the SEC case, and a public company like MoneyGram could not lean operations on an asset whose legal status was being argued in a federal courtroom.
Second, the bridge involved a moment of price exposure, however brief, since value passed through a volatile token mid-transfer, and that exposure has to be hedged or absorbed. When the legal cloud arrived, the cost-benefit math tipped and MoneyGram walked.
Ripple had even covered some of MoneyGram’s costs through incentive payments during the partnership, which raised a quieter question at the time about how much of the usage was organic demand and how much was subsidized adoption.
So the accurate version of the story is not that MoneyGram left Ripple for Stellar this month. MoneyGram left the XRP-based product back in 2021.
What happened now is that MoneyGram chose a different chain for a new project, years after the original partnership had already closed. The defection the headline implies happened half a decade ago and was old news before MGUSD existed.
Why Stellar, and why it stings anyway If the breakup is old, why does the Stellar choice still land as a jab at Ripple? Because of who Stellar is.
Stellar was co-founded by Jed McCaleb, who had earlier co-founded Ripple before leaving after a falling-out. The two networks share genetic material.
Both are payment-focused ledgers built for fast, cheap value transfer, both use a native asset for bridging and fees, and both have spent a decade chasing the same cross-border-settlement prize. Stellar leaned hard into the remittance and financial-inclusion niche, and MoneyGram already had a separate, live relationship with the Stellar ecosystem through MoneyGram Access, a service that let users move between cash and the USDC stablecoin on Stellar.
Seen that way, MGUSD on Stellar is less a betrayal and more a continuation. MoneyGram was already building on Stellar rails for its cash-to-crypto bridge.
Putting its own stablecoin on the same chain follows the path it had been walking, not a path away from a current Ripple deal. The sting is symbolic.
A firm that XRP holders once held up as their flagship win shipped a major new product on the one chain that reads as Ripple’s mirror image and oldest rival. The wound is to the narrative, not to any active revenue line.
That is why Stellar and Ripple’s wider rivalry matters here. MGUSD is not only a stablecoin launch; it lands inside a long-running contest over which network becomes the default rail for compliant payments and tokenized assets.
What XRP the token actually loses Separate sentiment from substance and the ledger of real losses is short.
In direct, mechanical terms, XRP loses close to nothing here, because XRP was already getting nothing from MoneyGram. The On-Demand Liquidity flow that once pulled XRP into MoneyGram’s corridors ended in 2021.
There was no current stream of XRP demand from MoneyGram for MGUSD to replace. You cannot lose a customer you lost five years ago.
In narrative terms, the cost is real but soft. The XRP community has spent years pointing to the old MoneyGram partnership as evidence that the bridge-asset thesis works with serious money-transfer firms.
Watching MoneyGram build its future on Stellar takes that talking point and turns it into an awkward footnote. For a token whose price has often moved on story and sentiment as much as on usage, a dented story carries some weight, even when the cash-flow impact rounds to zero.
There is also a precedent cost, and it is the one worth taking seriously. MoneyGram did not pick a rival bridge token. It issued its own stablecoin.
That choice says the company would rather control its own dollar rail than route value through any third party’s native asset, XRP or otherwise. If the largest remittance networks decide that the future is proprietary stablecoins on cheap public chains, the entire premise that they will lean on a bridge token like XRP gets weaker.
That is a bigger and quieter problem than losing one logo, and it is not unique to MoneyGram.
Why narrative cost is not nothing for this token It would be easy to wave away the sentiment damage as irrelevant noise, but XRP is a special case where narrative has done real work on price, and dismissing it would miss how this token actually trades.
For long stretches of its history, XRP has moved on story more than on measurable usage. The token spent years priced largely on the hope of bank adoption, on the outcome of the SEC case, and on the recurring promise that institutional partners were about to route serious volume through it.
When those stories strengthened, the token ran. When they weakened, it sagged, often regardless of what on-chain data showed.
A community built around a thesis tends to trade the thesis, and the MoneyGram partnership was one of the load-bearing beams of that thesis for years. So losing MoneyGram to Stellar, even a MoneyGram that left long ago, chips at a story that part of the market still prices.
The damage is not a lost revenue line. The damage is one more crack in the bank-and-payments narrative that justified holding through years of flat performance.
For a token whose price has often run ahead of or behind its fundamentals based on belief, a dented belief carries weight that a pure cash-flow analysis would understate. This does not mean the news should move the price much, and on the day it did not move much.
It means a holder should be honest that part of what they own is a story, and stories take damage from announcements like this even when the spreadsheet does not.
A corridor, two ways Trace a single remittance to see what changes and what does not for the person actually sending money.
Picture a worker in the United States sending $200 to family in the Philippines. Under the old XRP-based On-Demand Liquidity model, MoneyGram would convert the dollars, route value across a corridor where XRP served as the bridge asset between currencies, and pay out pesos on the other end.
XRP sat in the middle of the hop, held for seconds, sold back out, pulling the token into the flow for the length of the transfer.
Under the MGUSD model, the sender’s dollars become MGUSD, the stablecoin moves across Stellar in seconds for a fraction of a cent, and the recipient either holds digital dollars in the app or collects pesos at one of MoneyGram’s local counters. The bridge in the middle is now a dollar stablecoin on Stellar, not a volatile bridge token.
The user experience is similar or better, since the value never has to pass through a swinging asset price during the hop. The corridor still works.
XRP is simply not in it, and neither is the price exposure that bothered some institutional users about bridging through a volatile token.
For the sender, almost nothing changes. For XRP, the lesson is that the bridge role it was built to play can be filled by a stablecoin that does the same job without the volatility, on a chain that costs about the same to use.
That substitution, repeated across enough corridors, is the actual competitive threat. MoneyGram is one instance of it.
The pattern bigger than one company MGUSD does not stand alone. It is a data point in a trend that touches XRP’s original reason for existing.
Look at who is issuing dollar stablecoins now. MoneyGram has MGUSD on Stellar. Ripple itself has RLUSD, settling on the XRP Ledger and expanding toward Ethereum layer-2 networks.
PayPal has PYUSD. Circle’s USDC remains the default dollar token across much of crypto, and Coinbase now lets any business mint a custom stablecoin backed one to one.
Banks and payment firms are minting tokenized deposits through providers like Bridge and M0, the same providers MoneyGram used. The common thread is that the firms moving the money increasingly want to issue and control the dollar token themselves, settling it on whatever fast public chain is cheapest, instead of routing value through anyone’s bridge asset.
The arrival of federal stablecoin rules in the United States pours fuel on this. With a clear legal framework for dollar-backed tokens now in place, issuing a compliant stablecoin shifted from a legal gamble to a product decision, and every payment firm with a balance sheet and a user base has a reason to consider it.
The infrastructure to mint one is now rentable from a handful of platforms, so a company no longer needs deep crypto engineering to launch its own dollar token. That combination, legal clarity plus turnkey issuance, means the trickle of proprietary stablecoins is likely to become a flood, and each one is a small vote against the idea that the world needs a neutral bridge asset.
For XRP, the cumulative weight of that trend matters far more than any single launch. One firm choosing Stellar is a headline.
Dozens of firms deciding they would rather hold and control dollars than bridge through a volatile token is a structural shift in the exact market XRP was built to serve. The MoneyGram news is worth reading not as a defeat but as a clear, named example of the pattern that actually threatens the original thesis.
XRP was designed for a world where institutions needed a neutral bridge token to hop between currencies without pre-funding. Stablecoins quietly ate much of that need.
If you can hold and move a digital dollar directly, you do not need to bridge from dollars to a volatile token to a destination currency. You move the dollar and convert once at the edge.
Ripple saw this coming, which is exactly why it built RLUSD and leaned into the XRP Ledger as a settlement venue rather than betting everything on XRP as the bridge. The company adapted.
RLUSD’s settlement role shows the same shift inside Ripple’s own strategy: the future is not only XRP as the bridge, but stablecoins and settlement rails working together.
The token’s original thesis is the thing under pressure, and MoneyGram’s choice is a clean illustration of why.
Why the chain barely matters, and why that is the point There is a detail in the MGUSD design that deserves more attention than the Stellar headline. MoneyGram did not pick Stellar because Stellar’s token does something special.
It picked Stellar because the chain is fast, cheap, and good enough to carry a dollar token, and because MoneyGram already had infrastructure there. The native asset of the chain was incidental to the decision.
That is the uncomfortable truth for any bridge-token thesis. Once a payment firm issues its own stablecoin, the underlying chain becomes a commodity, chosen on cost and reliability, with the value capture moving to the stablecoin issuer rather than to the chain’s token.
MGUSD could run on Stellar, on a layer-2 network, on Solana, or on several chains at once, and the user would not notice. What matters to MoneyGram is controlling the dollar token, the wallet, and the cash network at the edges.
The rail in the middle is just a rail.
This reframes what competition for XRP actually looks like. The threat is not that one rival chain wins the remittance business.
The threat is that the remittance business stops needing any chain’s token to be special, because the firms moving money would rather own the dollar than rent a bridge. A token whose value rests on being the indispensable middle of a transfer is vulnerable to exactly the move MoneyGram just made, which is to make the middle a generic, swappable piece of plumbing.
The firms that move money have learned that the valuable seat is the one closest to the customer and the dollar: the wallet and the issued token. The rail underneath can be rented from whoever is cheapest this quarter.
A bridge asset cannot easily climb into that valuable seat, because the whole reason it exists is to sit in the middle, and the middle is the part everyone is now trying to commoditize.
Where the cross-border case still stands None of this means XRP’s payment story is finished. It means the story has shifted, and the honest scoreboard looks different from both the bull and bear caricatures.
XRP still has live On-Demand Liquidity corridors with other partners in other regions, and Ripple continues to sign payment customers outside the MoneyGram relationship that ended years ago. The XRP Ledger now hosts RLUSD, which keeps Ripple in the dollar-stablecoin race even as the bridge-token role narrows, and XRP earns fees and bridge routing inside that ledger whether the headline asset is XRP or a stablecoin.
The institutional settlement work, including tokenized assets and the lending protocol, gives the ledger uses that have little to do with the old remittance pitch. Ripple’s value is increasingly the ledger and the stablecoin and the enterprise stack, with XRP as one component inside a larger system rather than the single hero asset.
That is why the XRP Ledger’s institutional settlement case matters more than one lost remittance headline. XRP’s future may depend less on reviving the old MoneyGram-style bridge thesis and more on whether high-value settlement volume actually runs through flows where XRP earns fees, reserves, or routing demand.
To keep the threat in proportion, it helps to name what an actual, serious loss for XRP would look like, because MoneyGram is not it. A real loss would be RLUSD failing to gain traction while rival stablecoins take the settlement business the XRP Ledger was meant to host.
A real loss would be Ripple’s live On-Demand Liquidity corridors shrinking as existing partners follow MoneyGram toward proprietary tokens. A real loss would be the institutional settlement work, the tokenized assets and the lending protocol, stalling at the pilot stage while competing chains win the production volume.
Those outcomes would strike at the parts of the business that actually carry XRP’s future. A remittance firm choosing Stellar for a new stablecoin, years after it stopped using XRP, does not reach any of them.
So does XRP lose anything from MoneyGram and MGUSD? Almost nothing it still had, since the active relationship ended in 2021.
It loses a favorite talking point, and it gets one more reminder that the bridge-asset thesis it was born from is being replaced by stablecoins, including Ripple’s own. The clear-eyed view is that MoneyGram is not the wound. MoneyGram is the symptom.
The thing worth watching is not whether one more firm picks Stellar, but whether the remittance world as a whole decides it would rather hold dollars than bridge through anyone’s token. On current evidence, it would.
The smart move for an XRP holder is to stop tracking which logo lands on which chain and start tracking the one number that matters, which is how much real value moves through XRP-touched flows on the ledger. That figure, not the next remittance headline, is the honest measure of whether the token is winning or quietly being routed around.
MoneyGram answered its own version of that question years ago. The market is still waiting to see how the rest of the industry answers theirs.
This article is information, not investment advice. Partnership timelines and product details reflect reporting available as of June 23, 2026, and corporate strategies and market conditions can change.
In This Article XRP News: What the Binance Withdrawal Data Actually SaysMoneyGram Chose Stellar, but the Ripple Breakup Happened in 2021The Bigger Threat Is the Stablecoin Model Itself In XRP news today, withdrawal transactions on Binance accounted for 53.8% of total XRP transaction activity over a seven-day rolling period ending June 23, 2026, the highest reading since June 2024, according to CryptoQuant, the on-chain analytics platform.
That streak of seven consecutive days where XRP withdrawals outpaced deposits landed against a backdrop of XRP trading near $1.10, close to recent lows, and a news cycle dominated by MoneyGram choosing Stellar for its new stablecoin.
The two storylines are colliding in the XRP community discussion, but they tell different stories. One is a behavioral signal in the exchange flow data. The other is a narrative wound with roots going back years, not days.
@MoneyGram has been quietly building on blockchain for over five years. Now, with its own stablecoin (MGUSD), a Kraken partnership, a validator seat on the Tempo network, and $2B+ in stablecoin settlements already running — the pace is accelerating.
CEO @anthonysoohoo joins… pic.twitter.com/DAlAFoClmP
— Converge (@ConvergeDefiant) June 23, 2026
XRP News: What the Binance Withdrawal Data Actually Says The CryptoQuant metric tracking exchange flows on Binance measures the frequency of withdrawals versus deposits, rather than the raw dollar value of XRP moved. A rise in withdrawal transactions indicates more individual withdrawals than deposits, often reflecting holders moving XRP to cold storage or ETF custody rather than a single outflow event.
Deposits on Binance dropped to 46.1% of total XRP activity, the lowest level since 2024, creating a 7.7-percentage-point divergence. Between June 3 and June 14, about 722 million XRP left exchanges, with approximately 425 million from Binance.
CryptoQuant data from early 2026 linked ongoing exchange outflows to XRP ETF net inflows, which had absorbed around $1.4Bn by March 2026, indicating institutional accumulation.
CryptoQuant analysts advised that the withdrawal dominance reading should not be seen as a direct buy-or-sell signal. The data suggests a gradual supply removal rather than panic selling, indicating a quiet supply squeeze rather than abrupt market moves. For detailed mechanics on ETF inflows and their impact on XRP’s market structure, additional analysis is available.
(SOURCE: CoinGlass)
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MoneyGram Chose Stellar, but the Ripple Breakup Happened in 2021 MoneyGram launched MGUSD, a dollar-pegged stablecoin, on the Stellar blockchain in June 2026. Utilizing Stripe’s Bridge platform for issuance, M0 smart contracts for the token layer, and Fireblocks for wallet management.
The non-custodial wallet is integrated into the MoneyGram app. This allows users to easily transfer dollars across Stellar and convert them to local currency at approximately 500,000 physical locations.
Contrary to reports, this move does not represent a shift from Ripple to Stellar. MoneyGram and Ripple partnered between 2019 and 2021, with Ripple investing around $50 million and using its On-Demand Liquidity service.
However, as Ripple’s legal issues escalated, MoneyGram ceased using this service, and by 2026, XRP had not been part of its transactions for years.
MoneyGram’s launch of MGUSD on Stellar builds on its existing service, MoneyGram Access, which facilitated cash-to-USDC transfers on Stellar. This is an extension of the company’s infrastructure, not a new direction.
The relationship is symbolic, considering Stellar’s co-founder, Jed McCaleb, previously co-founded Ripple, and both networks have long targeted the same cross-border settlement space. Ultimately, this impacts the narrative rather than any current revenue stream.
The top moments in modern money from the last two weeks covered on Stabledash Live in 5 mins:
> @SimkinStepan privacy is coming to @solana through @altitude
> @scottnbeck converted a 40-year-old bank to national OCC charter
> @MoneyGram built $MGUSD on @m0 for chain-agnostic… pic.twitter.com/5vzAIz5d91
— Stabledash (@stabledash) June 22, 2026
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The Bigger Threat Is the Stablecoin Model Itself XRP is unaffected by the launch of MGUSD on Stellar, as it already saw no flow from MoneyGram. The real threat to Ripple lies in MoneyGram issuing its own USD-backed stablecoin.
This enables it to capture reserves that earn yield, incentivizing payment firms to favor its dollar rail over bridge assets. Ripple is not idle, as it is developing its own dollar stablecoin, RLUSD, and forming partnerships, such as one with Flutterwave for Africa.
The U.S. regulatory framework has made launching compliant stablecoins a viable option for payment firms. While XLM benefits from MGUSD’s visibility, the true advantage lies in the stablecoin structure rather than any specific bridge token.
For XRP holders, the focus should be on accumulation trends, as the impact of proprietary stablecoins on the broader bridge-token narrative and new institutional partnerships remains to be seen.
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Alex Ioannou
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Alex is a seasoned cryptocurrency trader and market analyst with over seven years of active experience in the digital asset space. Since entering the markets in 2017, Alex has specialized in identifying emerging "meta" trends and high-volatility narratives. Notably, Alex... Read More
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PANews reported on June 10 that, according to PRNewswire, the Chicago Mercantile Exchange (CME Group) has launched Nasdaq CME Crypto Index futures. These contracts are settled in cash at expiration based on the value of the Nasdaq CME Crypto Settlement Price Index, which tracks the performance of the largest and most actively traded cryptocurrencies by market capitalization. As of June 9, the index included Bitcoin, Bitcoin Cash, Ethereum, Solana, XRP, Cardano, Chainlink, and Stellar.
Circle partners with Nomura Securities to enter the Japanese yen foreign exchange settlement service market.
Stablecoin issuer Circle plans to collaborate with Nomura Securities to launch instant foreign currency settlement for Japanese corporate clients as early as 2027. The initiative will enable large cross-border transactions to be completed immediately, aiming to boost cross-border investment and trade. This will mark the first entry of a major stablecoin issuer into Japan’s corporate transaction market, allowing companies to convert yen into US dollar-denominated stablecoins for investment and instant transfers.
8 minutes ago
Institutions' Preview: Overview of US May Core PCE Price Index Monthly Rate
The US May core Personal Consumption Expenditures (PCE) Price Index monthly rate will be released tonight at 20:30 (UTC+8). Below are the forecasts from multiple institutions: Sumitomo Mitsui Banking Corporation: 0.2%; Royal Bank of Canada: 0.2%; JPMorgan Chase: 0.3%; Goldman Sachs Group: 0.3%; Bank of Montreal: 0.3%; Moody's Corporation: 0.3%; Standard Chartered: 0.3%; UniCredit: 0.3%; ING Group: 0.3%; HSBC Holdings: 0.3%; BNP Paribas: 0.4%; Wells Fargo: 0.4%; Capital Economics: 0.4%; Citigroup: 0.4%; Deutsche Bank: 0.4%; Nomura Securities: 0.4%; Pantheon Macroeconomics: 0.4%; Société Générale: 0.4%; Scotiabank: 0.4%; Morgan Stanley: 0.4%
8 minutes ago
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.
Crypto analyst Scott Melker is bullish on Bitcoin, XRP and the crypto markets at large.
The founder of Texas West Capital is revealing his outlook on Bitcoin and a list of altcoins. In a new note on the state of crypto, Melker says BTC is looking bullish on the daily, weekly and monthly charts – with the monthly looking especially enticing.
“[Monthly chart is] incredibly bullish. Anything above the most recent support at $9,243.83 remains as such.
The last monthly candle engulfed the previous 2, with a hammer at the bottom – arguably a morning star reversal. There is quite literally nothing bearish about the chart on this time frame.”
Source: Scott Melker/TradingView Melker says he began buying BTC when it was in the $6,400 range, and he sees no evidence that BTC’s rally above $10,000 is finished.
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As for the altcoin market, Melker says he’s eyeing XRP, Stellar (XLM), NEO and Holo (HOT).
$XRP
I didn't need a chart to predict this, but it's nice to look at one for confirmation. Blast off. pic.twitter.com/Ow7uY995vE
— The Wolf Of All Streets (@scottmelker) February 13, 2020
$XMR / $BTC
Continuing to consolidate against major resistance. I am expecting a major pop if it breaks. pic.twitter.com/Nue2We0tHY
— The Wolf Of All Streets (@scottmelker) January 30, 2020
$NEO / $BTC
Holy mother. Confirmed breakout of an inverse head and shoulders that has existed for almost 10 months. This should pull a 50% move up just on that pattern. Expecting to see NEO take flight. pic.twitter.com/iGSsUt4I6R
— The Wolf Of All Streets (@scottmelker) February 13, 2020
$HOT / $USDT
This looks crazy bullish. Broke descending support and has now flipped horizontal resistance to support and moved away on strong volume. pic.twitter.com/nFsWTcrjqL
— The Wolf Of All Streets (@scottmelker) February 12, 2020
In the end, Melker says it’s easy to ride a wave in a bull market, but smart traders will take profits and incrementally sell their positions as the price of an asset rises.
“Everyone is a genius in a bull market. We will see how many people actually make it out with their profits…
– Scale out of your trades. This will help remove the pressure of deciding when to exit.
– Take profit often, there’s always another trade. Don’t worry about what happens after you exit.
– Use trailing stops to lock in gains and make sure you never turn a winner into a loser.”
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Although Melker joins a number of analysts who are bullish on the state of the market, veteran trader Josh Rager says the bullish sentiments may be too good to be true.
Rager confirms a sudden influx of messages from people asking him for trading advice. The last time this happened, he says, the market was hit with a major pullback.
As promised, the leading US crypto exchange Coinbase has dramatically increased the number of coins supported on its platform. The company just added Stellar (XLM), a few weeks after the long-rumored debut of XRP.
So which coins will land the coveted Coinbase listing next?
Back in December, Coinbase revealed it’s taking a hard look at 31 additional cryptocurrencies. The platform now supports Bitcoin, Ethereum, XRP, Litecoin, Bitcoin Cash, Stellar, Ethereum Classic, Zcash, 0x, Basic Attention Token and USD Coin.
That leaves 28 coins on Coinbase’s list of prospects.
Coinbase Pro, the company’s professional trading platform, already supports a handful of the coins on the list above: Civic, Dai, District0x, Golem, Loom, Decentraland and Zcash.
Rainberry Inc., the company behind BitTorrent, agreed to pay a $10 million settlement that ends a long-running case with the US Securities and Exchange Commission. The agreement lets the regulator dismiss its remaining civil claims against Justin Sun and affiliated foundations with prejudice, meaning the SEC cannot refile those specific charges.
Sun acquired BitTorrent and integrated it into his Tron blockchain ecosystem, linking Rainberry and the BitTorrent Token (BTT) to his crypto operations. Officials framed the settlement as closure rather than an admission of wrongdoing.
Settlement Reduces Regulatory Overhang For Crypto Projects Reports indicate the SEC’s case targeted allegations tied to token sales, trading practices, and unregistered offerings involving TRX and BTT. By resolving the matter through Rainberry’s payment, civil claims against Sun and the Tron Foundation were dismissed.
Analysts say the move clears a major legal hurdle and may reassure exchanges, investors, and partners that the immediate regulatory risk has been reduced.
The SEC letter to a Manhattan federal court on Thursday. Source: SEC Justin Sun’s Role And Statements On The Outcome Justin Sun and spokespeople emphasized that he did not admit wrongdoing. Sun framed the settlement as an opportunity to focus on product development, partnerships, and community engagement within the Tron ecosystem.
Public filings now reflect that Rainberry’s payment closes its portion of the case while reinforcing Sun’s ongoing leadership of the integrated BTT and TRX network.
The Chinese cryptocurrency entrepreneur Justin Sun reached a $10 million settlement to resolve a US Securities and Exchange Commission civil fraud case over his trading activity https://t.co/qJoSVO20WC
— Reuters (@Reuters) March 6, 2026
Traders Watch For TRX Price Breakout The market wasted no time reacting. Trading volume on TRX spiked on settlement news, though key resistance levels around $0.15 remained untested as of Thursday.
This caution is consistent with where TRX has been for the last 18 months. TRX, at the time of writing, was trading at $0.285, meaning that its value is not in line with the record number of transactions being made on chain.
TRX market cap currently at $27 billion. Chart: TradingView At this point, the market is still pricing in the potential risk of an SEC lawsuit and not valuing TRX for being the most used stablecoin network in the world.
Traders are viewing this settlement as lowering their legal exposure, and therefore will not consider this to be the “big” catalyst to move TRX up in price. Traders are chasing liquidity, depth of buy/sell orders, and the overall macro conditions of crypto when trading TRX.
From a legal perspective, it is important to note that although this particular case has now closed, public accusations of wrongdoing remain on record. As a result, both exchanges and custodians must continue to be vigilant in complying with regulations.
Foundations and Ecosystem Outlook The Tron Foundation has been focusing on developing technical solutions and providing support for projects within its ecosystem. The SEC settlement removes one of the obstacles to developing business and joint venture partnerships. However, restoring confidence in the ecosystem will take some time.
Featured image from Crosley Law, chart from TradingView
TLDR Arizona advanced Senate Bill 1649 to a full House floor vote after clearing the House Rules Committee. The bill would allow the state to create a Digital Assets Strategic Reserve Fund. The proposal permits Arizona to retain seized cryptocurrencies instead of auctioning them. The legislation names XRP, Bitcoin, Monero, NEAR Protocol, and Nano as eligible assets. Lawmakers set criteria to assess adoption levels and transaction activity for reserve assets. Arizona lawmakers advanced Senate Bill 1649 to a full House vote after clearing the House Rules Committee. The proposal would allow Arizona to retain seized digital assets in a state-managed fund. The measure names XRP, Bitcoin, and Monero as eligible assets under defined standards.
Arizona Crypto Reserve Plan Names XRP as Eligible Asset The House Rules Committee approved SB1649 with eight votes in favor. As a result, the bill now heads to the full House for consideration. Lawmakers introduced the measure to create a Digital Assets Strategic Reserve Fund. The proposal allows the state to keep digital assets obtained through forfeiture or surrender. Currently, agencies auction most seized cryptocurrencies.
State Senator Mark Finchem introduced SB1649 earlier this session. The Senate Finance Committee passed the bill with a 4–2–1 vote. Lawmakers set criteria to determine which assets qualify for the reserve. The criteria review adoption rates, annual transaction volume, and ecosystem development. The bill lists XRP, Bitcoin, Monero, NEAR Protocol, and Nano as eligible assets.
The proposal authorizes the State Treasurer to manage the reserve fund. The Treasurer may invest holdings to generate returns for the state. However, the bill requires that investment actions do not increase financial risk. Lawmakers included this provision to guide fund management practices.
If the House approves SB1649, the bill will move to the governor’s desk. The governor may sign the measure into law or veto it. Lawmakers placed the bill on the House calendar following the committee vote.
Bitcoin and Monero Included in Arizona Reserve Framework SB1649 identifies Bitcoin as a primary digital asset for the reserve. Lawmakers also included Monero under the eligibility framework. The bill groups these assets with XRP under a defined fair value threshold. This threshold evaluates economic strength and technical performance.
Under the measure, Arizona may retain cryptocurrencies received through legal processes. Agencies would transfer those assets to the reserve fund instead of auctioning them. The Treasurer would then oversee storage and management of the holdings. Lawmakers structured the bill to formalize how the state handles digital assets.
The legislation forms part of broader digital asset discussions in Arizona. Lawmakers are also considering Senate Bill 1042. That proposal would allow the state to invest up to 10% of public funds in cryptocurrencies. SB1042 remains under review in the state legislature.
At the federal level, digital asset reserves have also entered policy debates. President Donald Trump signed an executive order establishing a Strategic Bitcoin Reserve. The order also created a broader digital asset stockpile framework. Lawmakers referenced these developments during state discussions.
The House will now determine the fate of SB1649 in a floor vote. If members approve the measure, it will proceed to final executive consideration. The legislative process continues as scheduled in the current session.
In case you missed you can check out the first part of this series here.
Is Bitcoin Mining Legal in the United States?As implied by the FinCEN regulations, there’s no obligation on keeping virtual currencies. While spending, trading and exchanging crypto for fiat currency are considered money transmitters and should be reported.
In June 2019, Squire Mining (SQRMF), a Canadian mining mogul with the most hashpower, signed a letter of intent to host blockchain cloud computing units - over 41,000 Bitcoin - to the United States. As mining migrates from China to the US, the latter is changing priorities from application and protocol development to focusing on infrastructure.
How to Buy, Store and Spend Crypto in the USAIf you’re wondering how interested Americans really are in the cryptosphere, here’s a fun fact: Bitcoin has become so popular that as a term it has outrun Kim Kardashian and Donald Trump in search requests by three times.
Source: Consensys
Bitcoin is going mainstream in the States. It is already accepted as a payment by retailers and services like Overstock and NewsEgg and some major tech companies like Microsoft. The United States has over 3500 cryptocurrency ATMs and tellers – that’s 64% of all the crypto ATMs in the world. There is even a list of major cities in the US with ATM installations. Unsurprisingly, the top-5 cities are Los Angeles (372), Chicago (250), Miami (199), Atlanta (171) and Detroit (149). Despite the huge amount of tellers where you can buy BTC, XRP, ETH, etc. a majority of people prefer to buy crypto via the various exchanges and crypto services online.
Cryptocurrency has become an important aspect of local economies. California, New Jersey, Washington, New York, Colorado, Utah, Florida, Alaska, Nevada, and Massachusetts are the states with the largest amount of citizens who have cryptocurrency.
In 2018, Finder surveyed 2000 US citizens to get an approximate idea of what coins Americans prefer to store. It comes as no surprise that Bitcoin is the number one cryptocurrency in the US.
Source: finder.com
Is Trading Bitcoin legal in America?The question was raised on the federal level by the Securities and Exchange Commission, but the focus was on the use of blockchain assets as securities, such as whether or not certain Bitcoin investment funds should be sold to the public, and whether or not a certain offering is fraudulent. However, the SEC’s report focused entirely on Initial Coin Offerings, so the results don’t apply to BTC. To trade securities on the Blockchain, a company must register as an exchange, Alternative Trading System (ATS) or a broker/dealer.
Top cryptocurrency businesses in the USAIn addition to the wide user base of cryptocurrencies in the US, the country is also home to some of the most influential crypto projects in the industry. American crypto projects range from powerful exchanges to headline grabbing social media experiments. Here are some of the most notable.
LedgerX is a New-York based Bitcoin trading platform. As a start-up, LedgerX was actively lobbying for Bitcoin and cryptocurrencies and after a few years got a derivatives clearing organization license from the U.S. Commodity Futures Trading Commission. That opened the door for the platform to bring classical financial tools to the cryptosphere. In November 2017, LedgerX launched the first long-term BTC options.
Ripple constantly finds itself the subject of debate in the crypto community regarding its centralised nature. Despite the mixed feelings, Ripple is already working with hundreds of financial institutions to drive crypto adoption and has launched the University Blockchain Research Initiative to support the research and development of blockchain technology.
Gemini is a crypto exchange based in NYC that was created by the Winklevoss brothers. In 2016, Gemini became the world’s first licensed cryptocurrency exchange. Also, Gemini holds the distinction of being the first institution to launch Bitcoin futures contracts.
Stellar was co-founded by Jed McCaleb, who was also among Ripple’s founders. The company strives to provide banking services for unbanked people. Their team is working to improve cross-border transactions and reduce fees and transfer times.
Steem is the native cryptocurrency of the blockchain-based social platform Steemit where users are rewarded for writing posts, commenting, reading and curating content. The NY-based company was founded by Ned Scott and Dan Larimer, who is also known as the CTO of EOS and creator of BitShares.
Libra CoinLibra deserves its own section as it is one of the most controversial crypto projects that are sure to change the cryptocurrency market and the entire financial sector. The project initiated by Facebook, with Visa, Mastercard, and PayPal among its 27 charter members, is set to join the pantheon of premier US cryptocurrency projects. Facebook decided to launch the project to give financial freedom to 2,000,000,000 adults around the world who are outside the financial system. Of course, the guys from Facebook believe that people will trust decentralized management systems more now, when trade wars build barriers for money, when the trade is limited to the borders of the countries in dispute. Yet, the troubling issue is that Facebook management has been repeatedly accused of centralization and cooperating with authorities. On the other hand, the positive impact of mass adoption Libra can bring, will strengthen the cryptocurrency industry. However, much to my regret, Libra contradicts the basic ideas of blockchain - privacy and decentralization, the core values that Freewallet and many crypto companies fight for.
The third and final instalment of these articles will be released tomorrow at 12:30pm BST.
Prominent angel investor Armando Pantoja recently commented on the popular claim within the crypto community from critics labeling XRP as a “dead coin.”
The market commentator disagrees with this categorization. According to him, the claim is devoid of logic, as XRP remains the fourth-biggest crypto asset in the market. He stressed that a “dead coin” obviously cannot have a $112.8 billion market cap and rank just behind Ethereum and Bitcoin.
XRP Stands Strong Over Ten Years and Counting Drawing from his over a decade of experience in the crypto industry, Pantoja pointed out that the crypto assets making the top ranks today are entirely different from those of the past. In particular, some crypto assets that once ranked in the top 100 by market cap have now faded into oblivion.
Indeed, historical data from CoinMarketCap confirms that tokens like BitShares (BTS), Dash, NXT, Paycoin (XPY), and MAID were among the top ten precisely ten years ago, in March 2015.
However, these coins have now been completely relegated to the back seat. Meanwhile, during this time, XRP was even the second biggest crypto, behind Bitcoin only. Ten years later, XRP continues to defend its position among the most prominent crypto assets.
Top ten crypto ten years ago with XRP Pantoja cited this data to emphasize that the argument labeling XRP as “dead” is wholly misplaced and lacks sincerity. In his words:
“People don’t realize that all these other coins—hundreds, even thousands of coins—that were supposed to be great projects are gone now. XRP has held on, and that shows it’s not a dead coin. This is what we call success bias.”
He argued that supporters of such negative views are driven by a sense of rivalry. Pantoja stressed that commentators often fail to recognize all the failures and focus only on the successful projects. As a result, they’d look at XRP and assert, “Well, these other coins are more successful, so XRP is a failure.”
For Every Few Coins That Outperform XRP, 10,000 Others Failed In terms of price performance, Pantoja argued that out of the three or four coins that may have done better than XRP over the years, there are at least 10,000 coins that have failed completely.
He used this argument to dismiss the critical views concerning XRP’s failure to establish a new all-time high in seven years. At press time, XRP trades at $2.03, down 47.1% from its 2018 peak of $3.83.
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.
At this time in the cryptocurrency market, it’s all about making good on lost ground, and altcoins are certainly following that motto. Leading the way is the second-largest altcoin on the market, XRP, followed along by DigiByte and Maker.
XRP
Source: XRPUSD via Trading View
In the past week, XRP has mounted six green candles, a testament to its rising price which now stands at $0.18, a move up of 33 percent, since the coin fell to $0.135 post the plummet of Black Thursday, March 12.
The recovery has been locked in a rising wedge, as the price continues to mark higher highs and higher lows. In this wedge, the coin has broken two long-standing support levels at $0.168 and $0.176, respectively; but its first real test lies at $0.182, prior to which it has formed its first red candle at press time.
Bollinger Bands for the altcoin have, after converging on April 2, opened up, a sign of increasing volatility. Further, the average is moving up but is still below the coin’s price.
DigiByte
Source: DGBUSD via Trading View
DigiByte the 61st ranked cryptocurrency on the coin market is following in XRP’s lead, forming a rising wedge of steeper proportions. Since bouncing off the support at $0.00309, the price for the altcoin has increased by a whopping 70 percent and is now trading at $0.0055.
In trading within this rising wedge, the altcoin has consistently formed green candles since 22 March, allowing it to break the support turned resistance level at $0.00520. Given the pace of the recovery, even the long-term support at $0.0083 is achievable for DGB.
MACD indicator for the altcoin looks bullish as the MACD line has moved ahead and over the Signal line and is now above 0.
Maker
Source: MKRUSD via Trading View
Maker, the ERC-20 token, backed by Ethereum has a muted wedge, almost like an upward channel, hence preventing rapid price increase. However, the chances of a correction downwards for Maker is less so than the other altcoins.
Since bottoming out at $200, MKR has managed to increase by over 56 percent and is now steadily heading for the resistance level which lies at $412.
RSI for the altcoin has been consistently rising, like its price, since March 13, and is now at 46.78 from a low of 20, three weeks ago.
PANews reported on February 24 that, according to Decrypt, the Arizona Senate has advanced SB 1649, proposing to establish a "Digital Asset Strategic Reserve Fund" managed by the state treasury. This would authorize the state treasurer to hold, invest in, and lend seized, confiscated, or surrendered digital assets to the state through qualified custodians or regulated exchange-traded products. The bill passed the Senate Finance Committee on February 16 with 4 votes in favor and 2 against, and was approved by the Senate Rules Committee on February 23. It will now be submitted to the full Senate for a vote.
The bill explicitly classifies Bitcoin, XRP, DigiByte, stablecoins, and NFTs as eligible assets, and uses a "cryptocurrency fair value score" to screen other eligible digital assets, based on a 1% benchmark threshold set when Bitcoin reaches $100,000 per coin. The bill emphasizes that related operations must not increase the state's financial risk. SB 1649 must first pass the Senate before being sent to the House of Representatives, and finally to the governor for signature.
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.
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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.
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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.
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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.
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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.
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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.
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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.
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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.
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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.
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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.
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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.
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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.
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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.
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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.
