Track market-moving stories before they get noisy

Two of the big four artificial intelligence (AI) hyperscalers are Amazon (AMZN +2.97%) and Alphabet (GOOG +3.57%) (GOOGL +3.15%). These two are major players, yet they are deploying different strategies in the AI race.

Which one of these two is the better buy? Let's take a look, as they appear to be two entirely different companies on the surface.

Image source: Getty Images.

Cloud computing is a central focus for each Amazon is still mostly known as an e-commerce business, but I think investors should view it differently. It operates the largest cloud computing service in the world, Amazon Web Services (AWS), and it's a major part of the company. In fact, AWS generated 59% of Amazon's operating profit in Q1, despite accounting for only 21% of sales. That's because AWS' margins are far higher than the margins of Amazon's commerce segments. And with AWS growing at a 28% clip, the share of profits coming from it is likely to continue rising.

Alphabet is a large conglomerate, but the Google ecosystem still sits at the heart of the operation. The majority of its revenue comes from advertising, but it also has a cloud computing component.

Google Cloud is smaller than AWS, with revenue coming in at $20 billion during Q1 (versus AWS' $37.6 billion), but it's growing at a blazing fast 63% rate. However, Google Cloud doesn't give Alphabet quite the same profitability boost that AWS does for Amazon, as advertising is already a high-margin business. Still, it's a growing contributor to Alphabet's overall picture.

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Both companies are spending hundreds of billions of dollars a year on data center capital expenditures because they see a major opportunity in the cloud computing market, so they're investing heavily to build out computing capacity to capture a piece of it. This is a smart strategy, although it may take a handful of years for them to see the payoffs from it. Still, I think investors should give them some leeway, as they understand what customers demand in computing resources.

One difference between AWS and Google Cloud is that AWS doesn't have a native generative AI model, whereas Alphabet does. With Alphabet, users can deploy Google's Gemini family of AI models. With Amazon, investors can use a variety of AI models. While other AI models can be deployed on Google Cloud, it seems like the logical choice to go with its native model if you're using its ecosystem already. I don't think this is a huge difference maker, but it is something investors should be aware of.

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I don't see much separation between these two and how they run their businesses, so I'm scoring this category as a tie.

Winner: Tie

Solid top- and bottom-line growth From a revenue growth standpoint, Alphabet grew at a 22% pace during Q1, while Amazon grew at a 17% pace. Each of them also saw their earnings per share skyrocket, with Alphabet's growth once again outpacing Amazon's.

AMZN Revenue (Quarterly YoY Growth) data by YCharts.

There isn't a ton of debate about which is the faster-growing company, and forward projections point to the gap between them persisting. Wall Street expects 21% revenue growth for Alphabet for the remainder of 2026, and 19% growth next year. Analysts expect 15% growth for Amazon in 2026, and 13% next year. Clearly, Alphabet takes the prize here.

Winner: Alphabet

Both companies trade at a premium The market regards both Amazon and Alphabet highly, so it shouldn't come as a surprise that neither stock is cheap. However, I don't think either one is overvalued, either.

AMZN PE Ratio (Forward) data by YCharts.

Still, Amazon is the more expensive stock on a forward price-to-earnings basis, and the difference likely stems from each company's core business. Amazon's e-commerce business is far more stable over the long term than Alphabet's advertising business, which can face severe slowdowns when recessions strike (or even are just feared). However, with Alphabet's faster growth rate and cheaper stock price, I think it's the better buy now. That doesn't mean I think investors who own Amazon shares should sell them. I do still think Amazon is a worthy investment; it's just not as attractive to buy right now as Alphabet.

Winner: Alphabet

, /PRNewswire/ -- Rosen Law Firm, a global investor rights law firm, reminds purchasers of common stock of Microsoft Corporation (NASDAQ: MSFT) between May 1, 2025 and January 28, 2026, inclusive (the "Class Period"), of the important August 11, 2026 lead plaintiff deadline.

So What: If you purchased Microsoft common stock during the Class Period you may be entitled to compensation without payment of any out of pocket fees or costs through a contingency fee arrangement.

What to do next: To join the Microsoft class action, go to https://rosenlegal.com/cases/microsoft-corporation/join or call Phillip Kim, Esq. toll-free at 866-767-3653 or email [email protected] for information on the class action. A class action lawsuit has already been filed. If you wish to serve as lead plaintiff, you must move the Court no later than August 11, 2026. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation.

Why Rosen Law: We encourage investors to select qualified counsel with a track record of success in leadership roles. Often, firms issuing notices do not have comparable experience, resources, or any meaningful peer recognition. Many of these firms do not actually handle securities class actions, but are merely middlemen that refer clients or partner with law firms that actually litigate the cases. Be wise in selecting counsel. The Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation. Rosen Law Firm has achieved the largest ever securities class action settlement against a Chinese Company. Rosen Law Firm was Ranked No. 1 by ISS Securities Class Action Services for number of securities class action settlements in 2017. The firm has been ranked in the top 4 each year since 2013 and has recovered billions of dollars for investors. In 2019 alone the firm secured over $438 million for investors. In 2020, founding partner Laurence Rosen was named by law360 as a Titan of Plaintiffs' Bar. Many of the firm's attorneys have been recognized by Lawdragon and Super Lawyers.

Details of the case: According to the lawsuit, throughout the Class Period, defendants made false and/or misleading statements and/or failed to disclose that: (1) Microsoft's Copilot family of products had experienced significant brand positioning, user experience, usage, data siloing, computational capacity, organizational, and interoperability problems; (2) Microsoft's flagship proprietary AI model ranked well below competitors on a number of benchmark tests; (3) Microsoft needed to increase by billions of dollars its capital expenditures and divert graphics processing unit ("GPU") and central processing unit ("CPU") capacity away from fulfilling demand for its profitable Azure services in order to improve the competitive positioning of its critical Copilot family of products and increase its AI-related research and development ("R&D"); and (4) as a result, Microsoft had failed to convert a significant percentage of its commercial Microsoft 365 users to paid Copilot subscriptions and Microsoft's Copilot offerings had lost market share to rival products, a trend that was increasing. When the true details entered the market, the lawsuit claims that investors suffered damages. 

To join the Microsoft class action, go to https://rosenlegal.com/cases/microsoft-corporation/join or call Phillip Kim, Esq. toll-free at 866-767-3653 or email [email protected] for information on the class action.

No Class Has Been Certified. Until a class is certified, you are not represented by counsel unless you retain one. You may select counsel of your choice. You may also remain an absent class member and do nothing at this point. An investor's ability to share in any potential future recovery is not dependent upon serving as lead plaintiff.

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Decentralized perpetual contract trading platform Aster DEX has announced the launch of its "Hold & Share" reward program for SKHYB, the SK Hynix token under Binance’s tokenized US stock product line bStocks, with a total prize pool of SKHYB worth $15,000. The program’s core mechanism is "Hold & Trade": after users deposit SKHYB into their Aster perpetual contract accounts and enable multi-asset mode, SKHYB can be used as collateral, with a maximum collateral value of 90% of its market value. This allows users to trade any perpetual contract market without selling their SKHYB holdings. Aster also announced that SKHYB spot trading is now live, enabling users to "hold stocks while trading with stocks". The program runs from 10:00 UTC on July 15 to 10:00 UTC on July 22, spanning 7 days. To participate, users must meet three requirements simultaneously: enable multi-asset mode, hold at least $100 worth of SKHYB in their perpetual contract accounts, and execute at least $1,000 in trades across any perpetual contract market during the program period. Rewards are distributed proportionally based on individual scores, calculated as SKHYB balance multiplied by holding hours (full hours only). The maximum individual reward is capped at 3% of the total prize pool, and rewards below $1 will not be issued.

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Bitcoin (CRYPTO: BTC) tapped $65,000 on Wednesday as several on-chain indicators flash the strongest accumulation signal since the 2022 bear market.

Bitcoin Enters Historically Undervalued ZoneIn a Milk Road interview on July 14, Bitcoin Magazine Pro analyst Matt Crosby said Bitcoin may still revisit lower levels, but current valuations create an "asymmetric opportunity" as technical, fundamental and macro indicators converge near historically important support zones.

Bitcoin recently dropped to a range between $57,000 and $58,000, placing its valuation in the bottom 5% of historical readings.

The comparable readings appeared near the 2018 bear market bottom, March 2020 COVID-19 crash and 2022 bear market lows.

Crosby noted that investors waiting for a precise bottom, usually risk missing a sharp recovery. Bitcoin has historically moved quickly after completing its capitulation phase.

Several long-term indicators continue to point toward the $48,000 to $53,000 range as a potential downside support zone.

Bitcoin’s realized price sits near $53,000, while the long-term holder realized price is around $50,000.

The asset continues to trade near its 200-week moving average, which has served as a major bear market support level throughout most of its history.

Has Time-Based Capitulation Ended?Crosby described Bitcoin bear markets as having two stages: a sharp price-based capitulation followed by months of sideways trading that wears down investor sentiment.

During the 2022 bear market, Bitcoin spent roughly 156 days between its initial crash below $20,000 and its final low near $16,000.

Applying the same timeline to the current cycle pointed to around July 12 as a possible end to the time-based capitulation period.

Bitcoin historically rallied sharply within 100 days after completing similar phases, though Crosby said the current bottom can only be confirmed in hindsight.

Despite recent outflows, spot Bitcoin ETFs have reduced their total holdings by only around 18% from their peak, suggesting longer-term investors have maintained significant exposure through the downturn.

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Volume Has All But DisappearedCrypto's biggest assets are barely moving. According to Santiment, top-cap trading volumes have been sliding since July 2024 and are now sitting at their weakest average levels in roughly two years. This is not a crash. It is a slow drift, and it is broad-based. Santiment data shows the drop spans multiple top-cap coins simultaneously, with $BTC, $ETH, and other large-cap assets all showing the same pattern. The analytics firm describes the mood as one of exhaustion rather than aggression, with traders unwilling to commit in either direction.

The institutional side tells the same story. Glassnode's 30-day moving average of daily trading volume across US spot Bitcoin ETFs now sits at $1.25 billion, a 78% collapse from the $5.8 billion peak recorded in late 2025. Activity has also slipped below 2024 levels. Glassnode framed the slowdown as a loss of attention rather than a temporary lull, noting that a sustained recovery in $BTC price momentum would likely require participation to return from other asset classes.

Thin Books, Two EdgesLow volume markets are not neutral. Order books are shallow, which means price can move in either direction on relatively small flows. Rallies fade quickly when there is no depth behind them. But the same dynamic works in reverse: when sellers are done, it does not take much spot buying to shift the market.

Santiment has historically noted that crypto's strongest recoveries have emerged from periods when interest, volume, and participation were at their lowest. The current setup fits that profile. Sidelined capital sitting in stablecoins and money market funds means even a modest reallocation could produce an outsized move. The risk is timing. Low volume can persist for weeks or months without a change in direction, and capitulation is not a precise market timer. Until a catalyst appears, whether from macro clarity, a regulatory shift, or a concentrated inflow, the market risks grinding sideways on minimal flow.

Sources
BeInCrypto: What Washed-Out Crypto Sentiment Means for Bitcoin's Next Move
BeInCrypto: BlackRock Claim Fuels ETF Panic as Trading Hits Cycle Lows (Glassnode data)
Blockonomi: Crypto Trading Volumes Drop to Two-Year Lows

Bitcoin

15 July 2026 | 22:37 Bitcoin’s recovery to approximately $64,850 has increased the probability that the June low could develop into a broader market floor.

Price has moved above the 50-day moving average for the first time during the latest recovery attempt, although the available technical and onchain data does not yet confirm that a durable bottom is in place.

Glassnode data shows that long-term holder losses have started easing and buyers absorbed supply around the June lows. Bitcoin now faces a more demanding test between $66,000 and $68,400, where options positioning, profit-taking and the average cost basis of recent buyers converge.

Bitcoin’s bottom is still building, but its character is shifting.

That is Glassnode’s assessment, rather than confirmation that the cycle low is already established. The shift refers to cooling long-term holder capitulation, broad buying around the June lows and Bitcoin’s advance toward key cost-basis resistance, while the lack of sustained spot demand remains the missing confirmation.

Key Takeaways Long-term holder losses eased after exceeding $390 million daily. Bitcoin remains below $66,000 max pain and $68,400 break-even. June dip buyers are already realizing short-term profits. A sustained $68,400 reclaim could strengthen the bottoming case. Higher spot volume is needed for stronger confirmation. Bitcoin Reclaims the 50-Day Average Bitcoin was trading near $64,850 at the time of writing, slightly above its declining 50-day simple moving average at approximately $64,115. A daily close above that level would mark an early technical improvement because the average has acted as resistance during the recovery from June’s low.

The 50-day SMA is also watched by discretionary traders and rules-based strategies, so a sustained close above it can influence re-entry decisions and reinforce the signal through follow-on buying.

Bitcoin price action with technical indicators. The daily Relative Strength Index stood near 55.7, above both the neutral 50 level and its signal line around 50.7. Momentum has therefore shifted in buyers’ favor without reaching overbought conditions, leaving room for further upside if demand continues.

The current move does not yet establish a broader trend reversal. Bitcoin remains below the falling 100-day average near $70,600 and the 200-day average around $73,500, creating substantial overhead resistance even if price clears the immediate $66,000-$68,400 cost-basis zone.

The distinction is important: reclaiming the 50-day average would confirm that the short-term structure is improving, while holding above $68,400 would show that the average recent buyer has moved back into profit. Bitcoin would need both developments to materially strengthen the case that the June low could become a durable market floor.

Four Signals Make a Bitcoin Bottom More Plausible The first improvement came from Bitcoin’s response to the macro environment. Between July 9 and July 15, BTC gained approximately 5.1% according to the report, compared with roughly 1.3% for the S&P 500 and 0.4% for the Euro Stoxx 50. Crypto led the reaction rather than simply following equities.

Bitcoin outperforms equities following CPI release. The move accelerated after the U.S. Consumer Price Index declined 0.4% in June, while core prices were unchanged. The softer signal was reinforced by producer-price data released on July 15, which showed final-demand prices falling 0.3% after a 0.6% increase in May, while the annual rate slowed from 6.5% to 5.5%. Together, the reports reduced the immediate pressure for additional Federal Reserve tightening, although a 0.2% rise in service-sector producer prices showed that inflation had not weakened uniformly.

One inflation report cannot establish a lasting change in monetary conditions. Bitcoin’s stronger response nevertheless indicates that sellers had become less aggressive and that investors were prepared to add exposure when the macro backdrop improved.

The second signal comes from the Entity-Adjusted Long-Term Holder Realized Loss. The metric climbed above $390 million per day around its cycle peak before beginning to ease in the latest data.

BTC Long-term holder capitulation peaking and easing. A decline does not mean long-term holders have stopped selling. It means losses realized by that cohort are no longer accelerating at the same rate, reducing one of the main sources of supply that repeatedly interrupted Bitcoin’s earlier recovery attempts.

Bitcoin also remains above its realized price near $52,900. This metric estimates the market-wide cost basis by valuing each coin at the price when it last moved onchain. Trading above it suggests the aggregate supply remains in profit, separating the current structure from deeper capitulation phases in which BTC falls below the average cost basis of the entire network.

The realized price is a valuation reference rather than guaranteed support. Exchange activity, internal wallet transfers and Glassnode’s entity-clustering methodology mean it should not be treated as an exact record of what every investor paid.

The fourth signal is Bitcoin’s proximity to the aggregated options max-pain level at $66,000. BTC was trading approximately 2% below that threshold, placing price close to a level that Glassnode says has historically aligned with shifts toward a more constructive derivatives regime when sustainably reclaimed.

Bitcoin testing crucial $66K max-pain level. Max pain is not permanent resistance. It changes as options expire and traders adjust their positions, so its value lies in showing the current concentration of derivatives exposure rather than predicting where Bitcoin must settle.

June Buyers Are Supplying the Recovery The principal counter-signal comes from short-term holders. Their realized profit on a 24-hour average has risen toward $4.5 million per day, reaching volumes last seen around the May market high. Long-term investors are still realizing losses at the same time, leaving two different cohorts selling into the recovery for different reasons.

Short-term holder realized profit trends emerging. The short-term holder activity appears contradictory because the average recent buyer remains underwater. Bitcoin was trading near $65,000, while the short-term holder cost basis stood around $68,400.

The profitable sellers are therefore not representative of every coin acquired during the previous 155 days. They are more likely concentrated among investors who bought near the June lows around $60,000 and can now lock in gains of roughly 8% before BTC reaches the broader cohort’s break-even level.

This connects the bullish and bearish readings. Buyers who absorbed supply during the June decline helped stabilize the market, but part of that same group is now returning coins to circulation. Their earlier demand supported the rebound; their profit-taking becomes additional resistance before underwater buyers are made whole.

Early buyers realizing gains is normal during a recovery and does not invalidate the possibility of a durable low. The question is whether new demand can replace them quickly enough to prevent their selling from exhausting the advance.

Three Seller Groups Sit Above Bitcoin The resistance between current price and the upper cost-basis levels is distributed across three thresholds:

$66,000: The aggregated max-pain level, where current options positioning may affect short-term price behavior. $68,400: The short-term holder cost basis, where the average recent buyer returns to break-even. $76,400: The True Market Mean, which estimates the acquisition cost of economically active supply. Together, these levels define the supply overhang, the zones where more market participants may be incentivized to sell or hedge, increasing the demand required for Bitcoin to continue higher.

That does not mean there is no support between $65,000 and the realized price. Previous range levels, trading volume and fresh accumulation can create demand around $60,000 or elsewhere. It means the cost-basis models do not identify an equally important aggregate holder threshold immediately beneath the market.

What Could Strengthen the Bottoming Scenario Step 1: Daily Close >$66,000

Step 2: Reclaim $68,400

Step 3: Break Short-Term Cost Basis

Step 4: Weekly Close with Spot Volume

A sustained daily close above $66,000 would clear the immediate options threshold. The stronger confirmation would be a subsequent reclaim of $68,400, followed by price holding that level as support.

Moving above the short-term holder cost basis would shift the average recent buyer from an unrealized loss into profit. It would also demonstrate that the market can absorb both profit-taking from June dip buyers and loss realization from investors who entered near the cycle highs.

A weekly close above the zone, supported by stronger spot volume and sustained spot Bitcoin ETF inflows, might make the bottoming interpretation more credible. Glassnode’s data shows that derivatives traders are reducing bearish exposure, but closing shorts and allowing downside hedges to expire is not equivalent to new spot capital entering the market.

The scenario would weaken if short-term holder profit-taking remains near May-peak levels while Bitcoin is rejected again around $66,000. Renewed acceleration in long-term holder losses would add a second warning that the available demand cannot absorb both seller groups.

Under that outcome, the recovery could become another lower high rather than the start of a trend reversal. The $52,900 realized price would remain the principal market-wide valuation anchor below, although Bitcoin could encounter intermediate support before reaching it.

Taken together, the data makes the possibility of a Bitcoin bottom more credible than it appeared during the June selloff, but the evidence remains incomplete. Selling pressure is no longer intensifying, the market remains above its aggregate cost basis and favorable macro news is attracting demand. The decisive test could be whether BTC can reclaim the $66,000–$68,400 zone without the rally being exhausted by the investors who bought the June lows.

The information provided in this article is for educational purposes only and does not constitute financial, investment, or trading advice.

Author

Kosta has reported on cryptocurrency markets and blockchain infrastructure since 2020, bringing over six years of hands-on experience in the crypto industry built through daily tracking of markets, trends, and emerging blockchain developments. Specializing in Bitcoin on-chain analysis, institutional ETF flows, and digital asset price action, his work at Coindoo has been cited by other news agencies and consistently covers market developments with a focus on data-driven reporting across Bitcoin, Ethereum, Solana, and XRP. Over the years, Kosta has contributed to multiple crypto media outlets in different regions, authoring over 6,000 articles across the sector. His reporting spans cryptocurrency markets and the broader fintech industry, tracking not only price action but also the technological and regulatory forces shaping the ecosystem. To support his analysis, Kosta actively leverages on-chain data and metrics from leading platforms such as Santiment, Glassnode, and CryptoQuant, enabling deeper, evidence-based market insights. He believes in the power of transparency and the data that underpins the blockchain ecosystem. His academic background in Marketing Management from Denmark further complements his analytical approach, adding a strong understanding of communication strategy and content positioning to his work.

In brief BIP-110 would restrict several methods used to embed non-financial data in Bitcoin transactions. Supporters say the proposal would reduce blockchain spam, while critics argue it would invalidate legitimate transactions and risk a chain split. Despite attracting little miner support, BIP-110 has become one of Bitcoin's biggest governance debates in years. A proposal to change Bitcoin's consensus rules has divided developers, miners, companies, and users over how the network should evolve and who gets to decide.

The dispute centers around Bitcoin Improvement Proposal 110, or BIP-110. If implemented, BIP-110 would temporarily restrict several methods used to embed arbitrary data in Bitcoin transactions.

Supporters say the proposal would reduce blockchain spam and reinforce Bitcoin's role as money, while critics argue it would reject valid transactions and could split the network.

The debate has drawn reactions from Bitcoin developer Luke Dashjr, Blockstream CEO Adam Back, Strategy Executive Chairman Michael Saylor, Casa Chief Security Officer Jameson Lopp, and Bitcoin advocate Samson Mow.

“There are 110 things more dangerous to Bitcoin than spam. BIP 110 turns a spam dispute into a consensus change that would invalidate some currently valid, fee-paying transactions,” Saylor wrote on X. “That precedent is the danger. We should save our energy for threats that really matter.”

What would BIP-110 change?Bitcoin transactions can include more than payments. They can also carry text, images, token metadata, and other information through transaction scripts and witness data.

As a soft fork, BIP-110 would tighten Bitcoin's consensus rules by limiting several techniques used to embed that data. The proposal would limit most new transaction outputs to 34 bytes, restore an 83-byte limit for OP_RETURN outputs, cap certain witness elements at 256 bytes, and temporarily restrict several Taproot features commonly used for inscriptions. (Inscriptions are to Bitcoin what NFTs and other similar assets are to blockchain networks like Ethereum and Solana.)

Critics argue that BIP-110 would invalidate some transactions that are currently valid under Bitcoin's consensus rules and set a precedent for future protocol changes. In a February blog post, Jameson Lopp argued that BIP-110 would weaken two of Bitcoin's defining properties: censorship resistance and predictability.

“Bitcoin's strength lies in its censorship resistance and predictability,” Loop wrote. “BIP-110 signals that the protocol can be altered to censor subjectively ‘undesirable’ transactions, eroding its image as permissionless programmable money.”

BIP-110's mandatory signaling period begins in August, and so far, only 1% of miners have shown support for BIP-110, according to the proposal's monitoring dashboard.

Blockstream CEO Adam Back argued that Bitcoin's decentralized design prevents users from imposing their preferences on others and that its technical consensus process is intentionally resistant to change. While supporters are free to create their own fork, he wrote, "Bitcoin won't be joining it."

“Now the tough pill, which is unfortunately true,” Back wrote on X. “If you won't listen to reason, educate yourself, learn, the same radical freedom applies to you: your permissionless recourse is to club together and create a fork.”

The debate began with OrdinalsThe current dispute dates back to early 2023 with the launch of Ordinals, a protocol created by Bitcoin developer Casey Rodarmor that allows images, text, video, and other digital content to be inscribed directly onto individual satoshis, the smallest unit of Bitcoin. Ordinals use features introduced by Bitcoin's SegWit and Taproot upgrades to create NFT-like assets directly on the Bitcoin blockchain.

As Ordinals and BRC-20 tokens gained popularity, demand for Bitcoin block space increased, pushing transaction fees higher. Supporters say those fees generated additional revenue for miners and strengthened Bitcoin's long-term security.

However, critics, including Dashjr, have argued that inscriptions exploit the Bitcoin network, describing them as spam rather than legitimate financial transactions.

Mow urges consensusIn an essay posted to X on Tuesday titled The Bitcoin Alliance, Samson Mow argued that Bitcoin participants should think of themselves as an alliance rather than a community, with developers, miners, companies, educators, and users each contributing to the network in different ways.

“During the Blocksize War, there was never this ‘if you're not with us, you're against us’ mentality on our side,” he wrote. “The small block camp never had to coerce anyone to join. We just all "got it" and were confident in our position.”

For reference, the Blocksize Wars (2015–2017) centered on whether Bitcoin should increase its 1 MB block size limit to process more transactions in a single block on the network. In the end, the "small block" camp won out, with "big blockers" forking off to create Bitcoin Cash in 2017 and later Bitcoin SV in 2018.

Mow wrote that he shares concerns about blockchain spam but opposes BIP-110 because he believes protocol changes require broad consensus. Mow also criticized Bitcoin Core developers for their handling of recent OP_RETURN policy changes, arguing that both sides contributed to escalating the dispute.

“The way they handled the OP_RETURN change was full of stupid mistakes, from banning people on GitHub to the ninja ACKs,” he wrote. “Any normal person could have predicted the reaction from the plebs. People store their time and value in Bitcoin. Anything that appears to threaten that will get people up in arms.”

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Bitcoin rose above the $65,000 mark on Wednesday after the latest US wholesale inflation data came in cooler than expected.

The Producer Price Index (PPI) fell 0.3% in June from the previous month, marking its largest monthly decline since April 2025. On an annual basis, headline PPI dropped to 5.5%, below economists' expectations of 6.2%.

Core PPI, which excludes food and energy prices, also slowed to 4.7%, missing forecasts of 5.2%. The moderation reflected easing wholesale price pressure, particularly from lower energy and trade services costs.

The broader crypto market reacted positively to the inflation report, with Ethereum (ETH), XRP and Solana (SOL) rising 3%, 2% and 1.3%, respectively, following the release. The recovery in crypto also follows Tuesday's cooler-than-expected Consumer Price Index (CPI) report, giving investors two consecutive signs that inflationary pressure may be easing.

Bitcoin's sustained recovery hinges on Fed policy decision, easing global tensionsThe back-to-back releases have fueled expectations that the Federal Reserve (Fed) could maintain a less restrictive policy stance, according to Bitunix analyst Dean Chen.

"The latest US inflation data has changed the short-term market narrative, but it has not fully resolved the debate over monetary policy direction," Chen wrote in a Wednesday report.

The firm stated that much of June's inflation slowdown was driven by falling energy prices rather than broad-based disinflation. Energy prices declined 5.7% during the month, while gasoline prices fell 9.7%, providing relief to headline inflation.

However, prices of shelter, food and core services continued to rise, suggesting that underlying inflationary pressure remains.

Bitunix also highlighted a shift in the Fed's communication strategy, arguing that policymakers are placing greater emphasis on incoming economic data rather than providing explicit forward guidance.

"Individual economic releases are likely to carry greater market significance," the report stated, adding that inflation, employment and growth figures are expected to become increasingly important catalysts for financial markets.

Despite the improving inflation outlook, Bitunix cautioned that several macroeconomic risks could continue driving volatility across crypto markets. The firm noted that escalating geopolitical tensions in the Middle East could push energy prices higher and reignite inflation, while renewed concerns over Japan's Yen carry trade could tighten global liquidity and weigh on risk assets.

The report added that Bitcoin's longer-term direction will depend on whether inflation continues to moderate. It also hinges on whether the Fed maintains its data-dependent policy approach and if global liquidity conditions remain supportive.

"Bitcoin sentiment has improved after the CPI release, but future price action will depend on Fed policy signals, inflation trends, and broader risk appetite," Chen stated.

Trump to meet with senators to discuss Clarity ActAdditionally, a report of President Donald Trump meeting with senators in the White House to discuss the Clarity Act is also improving market sentiment.

According to Politico, Sen. Bernie Moreno said senators will update the President concerning the bill’s progress and its “path to success.”

While lawmakers are pushing to pass the bill before the August recess, a few Democratic senators want an ethics provision included in the landmark crypto bill, especially after Trump disclosed earnings of over a billion dollars from crypto-related affiliations. The move will prevent senior government officials from having business interests in crypto platforms.

Bitcoin is trading at $65,020, up 0.6% over the past 24 hours at the time of writing.

Bitcoin ATMs have become an increasingly visible target for regulators concerned about cryptocurrency-related fraud, with several states moving to restrict or ban the machines outright. But the companies operating those networks argue policymakers are focusing on the wrong part of the financial system.

For Paul Tarantino, CEO of Byte Federal, the debate extends far beyond cryptocurrency speculation. He sees Bitcoin ATMs as financial infrastructure serving millions of Americans who remain outside—or only partially connected to—the traditional banking system.

"Bitcoin ATMs are a physical cash on-ramp into the digital financial system," Tarantino said in an interview. "Infrastructure matters enormously when you're trying to serve the millions of Americans who are unbanked or underbanked."

Byte Federal operates one of the nation's largest Bitcoin ATM networks, with more than 1,400 locations across the U.S. and Australia. The kiosks allow consumers to convert cash into Bitcoin and other digital assets after completing identity verification and compliance screening.

A Different Customer Than Many AssumeWhile cryptocurrency often carries an image of sophisticated traders and speculative investors, Tarantino says Byte Federal's typical customer looks very different.

According to company transaction data, many users are working-class consumers, small-business owners and first-time cryptocurrency buyers who prefer using cash or have limited access to conventional banking services. Byte Federal says its median transaction is approximately $300 and that most purchases are relatively modest.

The company also reports that customer activity spikes on Fridays—when many workers receive paychecks—and that significant transaction volume occurs overnight and on weekends when banks are closed.

Those patterns, Tarantino argues, suggest Bitcoin ATMs serve a practical function rather than simply facilitating speculative trading.

"Our customers look a lot more like Main Street than Wall Street," he said.

The Inclusion DebateThe industry has long argued that cryptocurrency can improve financial inclusion by giving consumers without traditional banking relationships access to digital financial services.

Bitcoin ATM operators say physical kiosks remove several barriers associated with online exchanges, including linking bank accounts, navigating trading platforms or maintaining constant internet access.

Byte Federal says customers still undergo identity verification, sanctions screening, Know Your Customer (KYC) checks and anti-money laundering compliance before completing transactions.

Tarantino contends that the physical presence of a kiosk also creates trust among consumers unfamiliar with digital finance.

"People see the machine, receive a receipt and interact with a regulated company," he said. "That physicality matters for many first-time users."

Growing Regulatory ScrutinyDespite those arguments, Bitcoin ATMs have increasingly drawn attention from lawmakers and consumer advocates after numerous scams directed victims to deposit cash into cryptocurrency through kiosk networks.

Several states have enacted restrictions or outright bans, citing fraud concerns and the growing number of reported losses involving cryptocurrency payments.

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Tarantino argues regulators are incorrectly treating Bitcoin ATMs as the origin of fraud rather than the final step in much larger scams.

"The scam typically begins with a phone call," he said, pointing to telecom-based impersonation schemes that convince victims to move money before directing them to various payment methods, including cryptocurrency.

According to Tarantino, removing Bitcoin ATMs does little to eliminate fraud because criminals simply redirect victims toward alternative payment channels such as wire transfers, gift cards or cash-by-mail schemes.

"The scammer doesn't disappear," he said. "The payment method changes."

Compliance Becoming a Competitive AdvantageThe regulatory debate has also accelerated investment in compliance infrastructure among larger operators.

Byte Federal says every customer completes identity verification before using its machines. The company also employs transaction monitoring, blockchain analytics and additional protections for older users, including live phone calls with customers over age 60 before certain transactions are approved.

According to Byte Federal's chief compliance officer, those interventions prevent a substantial share of suspected elder fraud attempts before transactions are completed.

The company says it supports industry-wide standards including stronger KYC requirements, mandatory scam warnings and expanded cooperation with law enforcement.

From Tarantino's perspective, compliance is becoming one of the industry's primary competitive differentiators.

"As regulation matures, the companies that invested early in compliance will have a significant advantage," he said. "What some operators see as a cost, we see as a moat."

Beyond Bitcoin KiosksEven as mobile cryptocurrency apps and stablecoins become more common, Tarantino believes physical infrastructure will continue to play a role in digital finance.

Rather than viewing Bitcoin ATMs as standalone machines, he sees them evolving into broader financial service hubs capable of supporting remittances, bill payments, digital wallets and other blockchain-enabled services.

Byte Federal has already expanded beyond ATMs through products including ByteWallet, a self-custodied digital wallet, and ByteConnect, a merchant payments platform that enables businesses to accept Bitcoin.

"The ATM is not the destination," Tarantino said. "It's the entry point."

Whether regulators ultimately embrace that vision remains uncertain. What is clear is that the debate surrounding Bitcoin ATMs has become increasingly representative of the broader tension between expanding access to digital financial services and protecting consumers from rapidly evolving forms of fraud.

As lawmakers continue weighing restrictions, the industry's future may depend less on cryptocurrency itself than on whether operators can demonstrate that physical access, financial inclusion and rigorous compliance can successfully coexist.

Researchers at Stanford University and Singapore Management University found that Polymarket’s five-minute Bitcoin prediction markets create incentives for traders to manipulate spot prices around settlement, allowing sophisticated participants to profit at the expense of retail traders.

The study examined contracts in which traders bet on whether Bitcoin’s price would end above or below a predetermined level after five minutes. Because the contracts settle using Chainlink price feeds based on Bitcoin’s price at the end of each trading window, traders have an incentive to influence the spot market immediately before settlement.

Analyzing trading activity before and after Polymarket introduced the contracts in July 2024, the researchers found sharp increases in Bitcoin spot-market order flow just before settlement, followed by rapid price reversals, which were consistent with settlement-price manipulation.

The study estimated that the behavior transferred about $1.28 million from ordinary traders to manipulators during the sample period. The researchers said extending contract durations from five minutes to 15 minutes largely eliminated the effect.

The researchers said the results do not indicate prediction markets are inherently vulnerable to manipulation, arguing instead that settlement design can reduce the risk. They pointed to longer settlement windows and alternative pricing methods, such as time-weighted average prices, as potential solutions.

The findings could extend beyond crypto. The paper notes that traditional exchanges, including Nasdaq and Cboe, have proposed event contracts tied to asset prices, making contract design an increasingly important consideration as prediction markets expand into regulated financial markets. 

World Cup fuels prediction market growthPrediction markets posted record trading volumes in June as the expanded 2026 FIFA World Cup fueled activity across the sector. According to DefiLlama data, Kalshi processed about $9.4 billion in trading volume during the month, while Polymarket International handled roughly $4.3 billion.

The platforms’ World Cup winner markets have since generated more than $5.4 billion in combined trading volume, with Polymarket processing about $4.25 billion and Kalshi about $1.2 billion, according to data from the two platforms at the time of writing.

World Cup winner bets on Polymarket. Source: Polymarket

The sector’s growth has coincided with mounting legal scrutiny. Several US states have challenged companies, including Kalshi and Polymarket, this year, while the Commodity Futures Trading Commission has argued that federally regulated event contracts fall under its “exclusive jurisdiction” rather than state gambling laws.

The dispute is now moving through the federal courts, and legal observers have said conflicting appellate rulings could eventually prompt the US Supreme Court to decide whether states or the CFTC have primary authority over prediction markets.

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BlackRock CEO Larry Fink says he is no longer concerned about excessive leverage in the Bitcoin market. 

Earlier this Wednesday, he told CNBC that the cryptocurrency has become considerably more stable after speculative positions ended up being washed out. 

Fink stated that he "was always worried about the leverage in Bitcoin and crypto." 

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According to the BlackRock chief, that dynamic has largely changed. "That's why we had to wash out," he added. "And I think there's more stability at these levels here."

AI driving profitability Much of the interview focused on artificial intelligence rather than cryptocurrencies. Fink argued that demand for computing infrastructure continues to outpace supply and that the United States risks falling behind. 

Fink expressed strong optimism about financial markets over the coming year. He has argued that advances in artificial intelligence will continue driving corporate profitability. "I'm very bullish on the markets over the next 12 months," he said.

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Fink attributed that optimism to rapid technological innovation. "I think the technological revolution is going to power better margins for more companies."

He pointed to BlackRock itself as an example of how AI is already improving efficiency. "We've raised our margins... by 260 basis points over the last 12 months. A lot of it is using more and more technology."

Later in the interview, Fink explained how artificial intelligence is transforming the firm's internal operations. "We're able to use technology to process more trades, to process more activities," he said. 

Fink's Bitcoin transformationFor years, the BlackRock CEO was openly skeptical of cryptocurrencies. In 2017, he described Bitcoin as an "index of money laundering." He then changed his tune in 2023. Back then, BlackRock filed for what would become the industry's largest spot Bitcoin exchange-traded fund. Around that time, Fink described Bitcoin as an "international asset" that could serve as a hedge against currency debasement. He has then argued that Bitcoin is "digital gold" and a portfolio diversifier. 

Bitcoin has underperformed compared to other “risk-on” assets this year — and if history’s anything to go by, its price could dip as low as $38,000 by October. 

That’s according to a new report by NYDIG, which reveals that the asset’s current slump is down to supply mechanics rather than risk sentiment. 

Bitcoin’s price has in the past moved with tech stocks but 2026 has been different: AI-related equities have soared while crypto markets have slumped. Bitcoin was recently priced at $64,809, down nearly 30% year-to-date and close to 50% less than its October all-time high of $126,080. 

“Bitcoin’s 2025–2026 drawdown is bringing the 4-year cycle narrative back into focus, because the timing and structure increasingly resemble the prior reset years of 2014, 2018, and 2022 even though the path has not matched those drawdowns exactly,” the report read. 

NYDIG revealed that Bitcoin’s year-to-date performance makes it the worst-performing asset — losing out against US treasuries, silver, and currencies like the Swiss Franc. 

It added that if Bitcoin’s price action were to match other drawdowns — like the bear market of 2022 — a “potential cycle low near $38k-$39k” was possible. 

The good news: Bitcoin had its least volatile year ever in 2025, and some analysts opining that this year’s drawdown may be shallower than in previous bear markets. 

Is Bitcoin digital gold? NYDIG added that Bitcoin’s rolling correlation with gold increased during 2026’s second quarter, with both assets experiencing sell-offs. 

Bitcoin has been correlated to the precious metal in the past and Bitcoiners have described the top digital coin as “digital gold.” 

But the asset last year was more correlated with US equities — especially tech stocks. 

NYDIG added that other commodities experienced sell-offs in the second quarter of 2026, with the so-called debasement trade losing momentum. Traders in 2025 spoke of the “debasement trade” as a hot move to hedge against the dollar — and other fiat currencies — losing value. 

Bitwise said in a report last week that while Bitcoin closed Q2 2026 in its deepest and longest downturn since the last bear market, the fundamentals are in place for a quick recovery, with regulators passing crypto-friendly legislation. 

NYDIG added that the passing of the market-structure CLARITY Act “is the most important forward catalyst for the digital asset industry.”

“For Bitcoin, CLARITY’s direct price impact is less significant than for altcoins and crypto equities, but the investment implication remains material because a clearer U.S. market-structure regime would benefit the entire industry,” it noted. 

Mathew Di Salvo

Mathew is a reporter who's covered the space since 2019, reporting on everything from Salvadoran president Nayib Bukele's Bitcoin bet to crypto exchange FTX's bankruptcy.

Litecoin experienced a renewed price uptick following the announcement of a significant institutional custody development. The value of LTC climbed 2.39% over the last 24 hours, reaching $44.61 and maintaining its position above an important support level at $42.62, while approaching a resistance range between $44.61 and $46.00.

Technical rebound faces resistanceAfter recording a peak near $61 in May, Litecoin’s price fell sharply through June, briefly touching lows around $38. Recently, buyers have re-entered the market, pushing the price back to current levels.

The daily chart reflects a period of exhaustion and stabilization. Indicators such as the MACD show the main line at -0.15, the signal line at -0.35, and the histogram at 0.20. The shift from negative to mild positive histogram values hints at easing bearish conditions, yet the trend has not fully turned bullish.

A close above the $44.61–$46.00 resistance zone could reinforce the recovery trend. Conversely, any drop below $42.62 risks another test of June’s lows.

Momentum indicators demonstrate a cautiously optimistic tone, but the technical landscape is still searching for a convincing bullish signal, with continued recovery in progress according to MACD readings.

Clearstream integrates Litecoin custodyLite Strategy disclosed that Clearstream, one of two international central securities depositories and a subsidiary of Deutsche Börse, has incorporated Litecoin into its regulated custody service for institutional clients. Clearstream oversees more than €15 trillion in assets, providing post-trade settlement for global securities markets.

LTC is now settled through CryptoFinance AG, a MiCAR-licensed sub-custodian. This arrangement enables financial institutions to hold Litecoin with their current banking relationships, removing the need for a separate crypto-specific counterparty.

While the announcement quickly drew attention with over 1,900 views within a few hours, market participants view the custody upgrade as a medium-term catalyst rather than a reason for immediate price action.

This move expands institutional access to LTC, offering new infrastructure for regulated digital asset custody rather than serving as a trigger for a single-day rally.

Mini dictionary: Clearstream is one of two global central securities depositories, providing post-trade settlement services for institutional assets and part of the Deutsche Börse Group.

Clearstream’s integration of LTC into its custody platform is regarded as a structural improvement for institutional involvement, although it may not immediately reflect in the price.

Market positioning and network activityOpen interest in Litecoin futures dropped from about $320 million to $100 million in early June, mirroring the price decline. Since then, traders have gradually returned, with open interest now back in the $270 million to $300 million range.

DefiLlama reports that Litecoin’s total value locked (TVL) fell from $3 million to approximately $1.2–$1.5 million by July. Despite this, the number of active addresses has remained stable, fluctuating between 250,000 and 300,000 over the same period.

MetricMay PeakJune LowCurrentLitecoin Price$61$38$44.61Open Interest$320 million$100 million$270–$300 millionTVL$3 million$1.2 million$1.2–$1.5 millionActive Addresses~300,000~250,000250,000–300,000The technical and on-chain data show a market in the process of recovery, but without confirmation of a consistent trend reversal. The evolving custody framework and open interest figures provide reasons for cautious optimism, though market direction remains undecided pending further institutional activity or technical confirmation.

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.

XRP is approaching a significant technical juncture as a classic bullish pattern takes shape on its chart. Market watcher Crypto With Gopal reported that XRP currently displays a falling wedge formation, a setup known in financial analysis for predicting potential trend reversals or the continuation of a bullish momentum after prolonged corrections.

Technical trends hint at bullish reversalThe falling wedge pattern on XRP’s chart reveals a gradual narrowing between its highs and lows, suggesting that bearish momentum is tapering off. Each recent drop has lost intensity, with buyers stepping in to defend critical price levels. This activity suggests that bullish investors are increasingly influential, even as the price has recorded a series of lower highs and lower lows.

A decisive breakout above the upper boundary of the wedge, especially if supported by a surge in trading volume, could signal the beginning of a fresh upward move for XRP. Historically, confirmation of a falling wedge has often led to extended price rallies, making this a widely monitored scenario among traders and technical analysts.

At present, data from CoinCodex shows XRP trading at $1.12. This places the token at a critical level, where a clear breakout or rejection from the wedge could define its short-term direction.

XRP’s consolidation around the wedge’s boundary is backed by steady demand, with key support levels repeatedly holding as buyers increase positions.

On-chain signals support strengthening fundamentalsBeyond technical indicators, on-chain data appears to bolster the argument for renewed bullish momentum in XRP. There has been a clear shift of XRP tokens from exchanges to self-custody wallets, indicating that holders are less likely to sell in the near term. This move reduces the readily available supply on the market and may reflect a growing belief in XRP’s long-term prospects among its investor base.

Mini dictionary: Self-custody wallets, digital wallets controlled directly by the asset holder rather than an exchange, allowing users full ownership and responsibility for their cryptocurrency.

According to on-chain analytics provider XRP Update, XRP’s market dominance—a metric showing its share of total cryptocurrency market value—remains within a falling channel after advancing from multi-year lows. Should dominance regain upward traction and break above this channel, it would indicate a renewed flow of capital into XRP versus other assets. Prior occurrences of rising XRP dominance have historically corresponded with strong asset outperformance.

MetricCurrent StatusHistorical SignalFalling wedge patternActive, near resistance breakoutOften precedes upward ralliesExchange balancesDecreasingIndicates holder convictionMarket dominanceRising in falling channelCorrelates with past outperformanceInstitutional recognition and outlookInstitutional sentiment toward XRP is also showing signs of improvement. Forbes, a leading global business publication, recently included XRP in its list of top four cryptocurrencies to watch, alongside Bitcoin, Ethereum, and BNB. The ranking places particular emphasis on XRP’s increasing adoption, tokenization efforts, and advancements in real-world blockchain solutions.

With technical and on-chain indicators converging, and large holders opting for self-custody, XRP enters a crucial phase. Should buyers succeed in breaking through the wedge resistance with convincing volume, analysts see the potential for renewed expansion in the asset’s market value.

Several factors are now aligning for XRP: a bullish chart structure, declining exchange supply, rising dominance, and heightened institutional attention, all contributing to what could be a pivotal stretch for the asset.

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’s intellectual property and its impact on the development of cross-border payments have drawn renewed attention following recent documents shared by the crypto researcher SMQKE on X (formerly Twitter). According to SMQKE, these documents reinforce Ripple’s legal protections over its blockchain technology and its competitive position in international payments.

Patents and Technology in the SpotlightSMQKE’s post emphasized that Ripple’s patented innovations prevent direct replication of the XRP Ledger (XRPL) by other financial institutions. The researcher suggested that any organization with ambitions to match XRPL’s performance would need to rely on integration with Ripple’s technology instead of developing a parallel system.

Ripple’s technology is patented, so SWIFT cannot directly copy the XRP Ledger. Ripple’s patents prevent competitors from using similar blockchain networks without formal permission, making integration rather than imitation the practical option for institutions seeking comparable capabilities.

Ripple, a San Francisco-based fintech company, is known for its blockchain-based payment network designed to facilitate fast, low-cost, cross-border money transfers. The XRP Ledger (XRPL) serves as the company’s decentralized blockchain network, enabling transactions and supporting a native digital asset, XRP.

The researcher argued that the patented aspects of Ripple’s system leave SWIFT, the prominent financial messaging network, with limited alternatives in seeking efficient blockchain solutions for payment processing.

Mini dictionary: SWIFT — The Society for Worldwide Interbank Financial Telecommunication (SWIFT) is the leading global provider of secure messaging services and infrastructure that connects more than 11,000 financial institutions for cross-border payments and transaction communications.

FeatureRipple/XRP LedgerSWIFTPayment SpeedSeconds1–4 daysSystem TypeBlockchain-basedMessaging networkPatent ProtectionPatented technologyNo blockchain patentsIntegration PotentialOpen API, integration optionCan be integrated with blockchainsDocuments Presented to Support the ClaimTo substantiate his claims, SMQKE shared excerpts from what appears to be an academic analysis detailing the unique aspects of Ripple’s payment system patents. One section referred to RippleNet as a patented, blockchain-driven payments infrastructure that enables banks and financial institutions to process international transactions faster and at lower cost. The cited document asserted that these patents grant Ripple exclusive authority, restricting competitors from using similar technology without authorization.

Another segment referenced by SMQKE described the potential for messaging standards, including SWIFT, to be integrated with Ripple’s infrastructure, provided that appropriate legal and regulatory frameworks apply. This reinforced the suggestion that integration, not duplication, would be the feasible route for institutions aiming to access Ripple’s capabilities.

Academic references cited by SMQKE note that Ripple’s exclusive patent rights protect its blockchain payment technologies from unlicensed adoption, supporting the argument that industry participants must work with—rather than replicate—Ripple’s platforms to achieve similar outcomes.

Community Debates Patent Impact and Open Source ElementsSMQKE’s assertions prompted varying responses from X users, reflecting differing interpretations of Ripple’s intellectual property and the future role of the XRP Ledger in global payments. A commenter known as LORD argued that decisions about infrastructure adoption rest with individual banks, not SWIFT, and that the future financial landscape will emphasize interoperability, allowing multiple blockchains to connect via common standards.

Another contributor, Ledger Legend, pointed out that while Ripple has patents covering specific technologies, the XRP Ledger itself is open source. This means that developers and competing networks can build systems with similar features, though proprietary implementations developed by Ripple may remain protected under its patents. He noted that such open-source elements could limit the direct impact of certain exclusive patent claims.

SMQKE maintained his position that the collected documents and references to potential SWIFT integration demonstrate Ripple’s distinct advantage in the evolving market for cross-border payments.

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.

Key Highlights Table of Contents

Key HighlightsQualification Criteria Established for RLUSD ParticipantsBorrowed RLUSD Positions Face Modified CalculationsRLUSD Market Performance Declines Following Earlier Growth Phase Major exchange introduces $800,000 XRP incentive program targeting RLUSD holders Weekly XRP distributions available for users maintaining RLUSD balances and trading volume Four-week promotional initiative rewards RLUSD activity across multiple platform services Qualifying participants receive XRP tokens through weekly Friday distributions Exchange deploys significant reward pool to drive RLUSD stablecoin engagement The leading cryptocurrency exchange has rolled out a substantial XRP token distribution initiative worth $800,000 targeting qualified RLUSD holders using specific platform features. Running between July 17 and August 14, this promotional program allocates XRP rewards on a weekly basis every Friday. The exchange designed this campaign to stimulate RLUSD engagement while broadening user involvement across its Earn products, Margin trading, and Futures markets.

Qualification Criteria Established for RLUSD Participants Binance restricted eligibility to account holders maintaining RLUSD positions within approved Earn products, Margin accounts, or USDⓈ-M Futures portfolios. Participants need to preserve a minimum 0.01 RLUSD balance alongside achieving an average daily Margin or Futures transaction volume reaching $500. Trading activity across any available pair qualifies when RLUSD functions as account collateral.

The reward distribution mechanism evaluates each participant’s qualifying RLUSD holdings across every weekly period. The platform tracks the minimum hourly balance registered daily to establish each day’s qualifying amount. Weekly reward calculations then utilize a seven-day average balance combined with the current effective annual percentage rate.

All distributed rewards flow directly into eligible participants’ Spot wallets linked to their primary accounts. The exchange completes these transfers by 18:00 UTC each Friday throughout the campaign duration. Participants can monitor their received payments through the platform’s transaction history interface.

Borrowed RLUSD Positions Face Modified Calculations The exchange applies distinct calculation methods for RLUSD positions created by borrowing alternative stablecoins within Margin portfolios. Borrowed RLUSD amounts receive a 60% reduction after subtracting existing debt obligations. This methodology encompasses borrowing transactions involving USDT, USDC, U, USD1 and FDUSD.

Reward calculations distinguish between native RLUSD holdings and leveraged positions derived from borrowed stablecoin conversions. Participants holding exclusively borrowed RLUSD without baseline qualifying balances may become ineligible for distributions. However, users maintaining personal RLUSD combined with converted borrowed holdings remain eligible under modified calculations.

Binance verified that broker-linked accounts maintain reward eligibility without individual distribution caps. Nevertheless, the program excludes participants from certain jurisdictions due to applicable regulatory frameworks. Qualification ultimately depends on both account engagement patterns and geographic compliance standards.

RLUSD Market Performance Declines Following Earlier Growth Phase This reward program launches amid reduced RLUSD market momentum after experiencing robust expansion earlier this year. Ripple’s USD-pegged stablecoin maintained approximately $1.51 billion in market capitalization at press time following a decline exceeding 10% across recent weeks. Daily transaction volume similarly decreased by around 6% throughout this timeframe.

During June, RLUSD achieved market capitalization surpassing $1.81 billion while facilitating continuous settlement operations on the XRP Ledger through Mastercard integration. Market enthusiasm subsequently diminished following postponements affecting United States cryptocurrency regulatory proposals. Reduced optimism regarding the CLARITY Act further dampened overall market sentiment.

The exchange initiated this campaign as RLUSD progressively strengthens its position across trading operations and collateral applications. These weekly XRP allocations provide additional motivation for users sustaining qualifying RLUSD positions during the promotional timeframe. The program effectively merges stablecoin utilization with systematic digital asset incentives while adhering to established participation criteria.

Oliver Dale

Editor-in-Chief of Blockonomi and founder of Kooc Media, A UK-Based Online Media Company. Believer in Open-Source Software, Blockchain Technology & a Free and Fair Internet for all. His writing has been quoted by Nasdaq, Dow Jones, Investopedia, The New Yorker, Forbes, Techcrunch & More. Contact [email protected]

An analyst tracking XRP says the token could eventually push past $9, though he’s careful to frame that as a long-term possibility rather than a near-term prediction, pointing instead to a growing list of fundamental developments that he argues have yet to be reflected in price.

Price Action Right Now

XRP is trading just under $1.10, attempting a relief bounce off a June 6 low. The analyst is watching for a daily close above $1.16, and eventually $1.24, as signs the bounce has real strength behind it. 

He was clear that he isn’t expecting a rapid move to $2, describing the current setup as similar to previous short-lived relief rallies rather than a confirmed reversal.

The Main Argument: Price Lags News

The analyst’s central point is that positive fundamental developments tend to build for extended periods before price catches up, using 2022 to 2024 as a reference point when XRP saw a run of over 1,000% following a long stretch where fundamentals were improving while price stayed flat.

Recent Data Points Cited

Several data points were raised as evidence of ongoing adoption:

Forbes ranked XRP fourth among cryptocurrencies, placing it above Solana, Cardano, Chainlink, Dogecoin, Avalanche, and Hyperliquid, with only Bitcoin, Ethereum, and BNB ranked higher. Forbes attributed the ranking to XRP’s use in real-world payments, global finance, and institutional adoption rather than speculative trading alone.More than $1.3 billion has flowed into XRP ETFs since launch, according to figures cited in the video.BlackRock, Goldman Sachs, JPMorgan, and Morgan Stanley are among 54 firms, including Coinbase, Ripple, and Circle, that have joined a UK government tokenization task force focused on live use cases starting with tokenized repo transactions.XRP Ledger’s tokenized asset value has grown from roughly $150 million to more than $4 billion over the past year, with more than 500 tokenized products now live on the network.The XRP Ledger led all major blockchains in real-world asset inflows over the past 90 days, at $1.9 billion, ahead of Ethereum, Stellar, BNB Chain, and Solana over that same window.Stablecoin market cap on the XRP Ledger rose more than 13% over the past 30 days to roughly $1.02 billion.The Bigger Picture, According to the Analyst

He pointed to the total crypto market cap, currently around $2.21 trillion, as evidence of how far the industry has grown since 2020, when the market cap fell below $500 billion and sentiment was broadly negative. The argument is that adoption metrics, rather than short-term price action, are what typically signal where a market is heading over a longer time horizon.

Story Ends Here

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Ripple (XRP) holds above support reclaimed at $1.10 at the time of writing on Wednesday, extending its rally after the US Producer Price Index (PPI) data for June showed that price pressures in the world’s largest economy are cooling. The report reinforced the trend seen in Tuesday’s Consumer Price Index (CPI) figures, fueling optimism across crypto markets.

Softer US PPI, CPI boost short-term outlookThe Bureau of Labor Statistics (BLS) CPI reported that inflation fell by 0.4% in June on a seasonally-adjusted basis, marking the sharpest monthly decrease since April 2020.

This pullback brought the annual headline inflation rate down to 3.5% from 4.2% in May. Core inflation, which excludes the more volatile food and energy prices, remained flat MoM, while the annual rate fell to 2.6% from 2.9% in May.

On Wednesday, additional US data showed that the Producer Price Index (PPI), a key gauge of future inflation pressures, rose at a lower pace than expected, easing market concerns over a persistent inflation wave and supporting risk assets.

Market sentiment improved slightly, with investors currently pricing in an 90% probability that the Federal Reserve (US) will leave interest rates unchanged in the 3.50%-3.75% range at its next review cycle on July 29.

FedWatch tool | Source: CME GroupAppetite for crypto assets increased only marginally as reflected in the Fear & Greed Index. The index is embedded in the Extreme Fear territory at 25 on Wednesday, up from 22 the day before. If risk-on sentiment steadily increases, demand for risk assets, including XRP, would grow, intensifying the tailwind and supporting recovery in the short to medium term.

Crypto Fear & Greed Index | Source: AlternativeXRP absorbs supply as Binance reserves stabilizeThe number of tokens held in Binance wallets has remained relatively stable in July, averaging 2.61 billion XRP, valued at $2.9 billion on Wednesday. According to CryptoQuant data, the reserve’s stability indicates no major surge in immediate sell-side pressure.

If the price rises while exchange reserves fall or stay relatively flat, it often supports the notion that the market is absorbing supply. Hence, an increase in demand could boost XRP’s bullish outlook, paving the way for an extended rebound above $1.10.

XRP Binance Exchange Reserves | Source: Crypto QuantPrice analysis: XRP range-bound despite mild increaseXRP trades above $1.10, retaining a bearish near-term bias as it remains below the 50-day, 100-day and 200-day Moving Average Exponentials (EMAs), which fan out as layered resistance at $1.16, $1.26 and $1.46 respectively.

The Moving Average Convergence Divergence (MACD) indicator edges in positive territory on the daily chart and the Relative Strength Index (RSI) hovers near 49, suggesting only modest, indecisive momentum within a broader capped structure defined by the prevailing downward resistance trendline.

XRP/USDT daily chartInitial resistance lies at the 50-day EMA around $1.16, with the 100-day EMA at $1.26 and the 200-day EMA near $1.46 reinforcing a wider bearish ceiling aligned with the descending trendline resistance overhead. Looking down, the first notable support emerges at the Parabolic SAR level near $1.04, and a clear break beneath this area would reopen scope for a deeper slide. Still, a recovery above the clustered moving average barriers would be needed to weaken the broader bearish bias.

(The technical analysis of this story was written with the help of an AI tool. Know more.)

Bitcoin, altcoins, stablecoins FAQs Bitcoin is the largest cryptocurrency by market capitalization, a virtual currency designed to serve as money. This form of payment cannot be controlled by any one person, group, or entity, which eliminates the need for third-party participation during financial transactions.

Altcoins are any cryptocurrency apart from Bitcoin, but some also regard Ethereum as a non-altcoin because it is from these two cryptocurrencies that forking happens. If this is true, then Litecoin is the first altcoin, forked from the Bitcoin protocol and, therefore, an “improved” version of it.

Stablecoins are cryptocurrencies designed to have a stable price, with their value backed by a reserve of the asset it represents. To achieve this, the value of any one stablecoin is pegged to a commodity or financial instrument, such as the US Dollar (USD), with its supply regulated by an algorithm or demand. The main goal of stablecoins is to provide an on/off-ramp for investors willing to trade and invest in cryptocurrencies. Stablecoins also allow investors to store value since cryptocurrencies, in general, are subject to volatility.

Bitcoin dominance is the ratio of Bitcoin's market capitalization to the total market capitalization of all cryptocurrencies combined. It provides a clear picture of Bitcoin’s interest among investors. A high BTC dominance typically happens before and during a bull run, in which investors resort to investing in relatively stable and high market capitalization cryptocurrency like Bitcoin. A drop in BTC dominance usually means that investors are moving their capital and/or profits to altcoins in a quest for higher returns, which usually triggers an explosion of altcoin rallies.

Netflix is in regrouping mode heading into its second-quarter earnings reveal – a very familiar place for the company.

The streaming giant, which will report financials Thursday afternoon after the close of trading, has already signaled that the quarter is unlikely to be a barnburner. That was the takeaway of many Wall Streeters in April after the company declined to raise its full-year guidance.

Netflix have skidded to an 18-month low, down 40% over the past year and 21% in 2026 to date, as skepticism lingers about the company’s user engagement, competitive set and M&A aspirations.

“There’s a lot riding on Q2 as Netflix faces no shortage of near and longer-term questions – from Q2 engagement trends and potential revisions to 2026 margin guidance to the broader challenge of sustaining growth amid evolving consumer preferences and viewing behavior,” Bernstein analyst Laurent Yoon wrote in a note to clients.

Apart from Harlan Coben’s I Will Find You, there weren’t many no-doubt hits during the April-to-June quarter, and some viewership was also siphoned off in June by the World Cup. More disconcerting to investors was a report by Bloomberg that many series are experiencing increasingly steep dropoffs in viewership between their first and second seasons.

The company has taken steps already to shore up overall engagement, adding vertical video, podcasts and live sports to create a more comprehensive programming lineup. It is also reportedly considering more significant moves, like potentially expanding on the live broadcast partnership it formed in France with TF1 or possibly the addition of a free tier or even substantial M&A to bolster its IP library. Given lingering questions about the end of its merger agreement with Warner Bros., as well as recent reports the company is taking a look at acquiring Letterboxd, it is likely that execs will be asked yet again about potential deals.

John Blackledge of TD Cowen acknowledges the fretting over engagement trends as a major theme for investors, but he believes that angst ignores significant upside in the company’s growing ad business. “We expect the burgeoning ad tier to help drive member growth and support margin expansion over time as the biz scales,” he wrote in a note to clients, also pointing out that Netflix was the No. 1 choice of consumers Cowen’s surveyed about living room viewing.

Sean Diffley of Morgan Stanley, in a report headlined “We’ve Seen This Movie Before,” said the company has had a lot of experience with comebacks. “With many asking where shares could bottom, we would look to 2022 as the last major period of growing pains for Netflix that saw subs go negative for the first time in 10 years,” wrote. In the end, however, “We think it all comes back to pricing power, and our survey work suggests they still have the best perceived original content and the strongest breadth & depth, along with viewer intention.”

The rope-a-dope dynamics of past quarters, where the bar is set low and the company overdelivers and the stock jumps, could make a return on Thursday, according to BofA Securities analyst Jessica Reif Ehrlich. “Given the recent pullback in shares, we believe investor sentiment remains muted and a beat-and-raise quarter could go a long way in assuaging several of these investor concerns,” she wrote. “Conversely, should fundamentals indicate a further deceleration in trends, that would only amplify these bearish concerns and weigh on the multiple going forward.”

Consensus forecasts among Wall Street analysts are for revenue in the quarter of $12.58 billion and earnings per share of 79 cents. Both metrics are close to the company’s own internal projections.

Paradex integrates RFQ engine, executes $23M XRP options block

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NEW YORK--(BUSINESS WIRE)--JPMorgan Chase & Co. (NYSE: JPM) (“JPMorganChase” or the “Firm”) has declared dividends on the outstanding shares of the Firm’s Series DD, EE, GG, JJ, LL, MM and NN preferred stock. Information can be found on the Firm’s Investor Relations website at https://www.jpmorganchase.com/ir/news.

JPMorgan Chase & Co. (NYSE: JPM) is a leading financial services firm based in the United States of America (“U.S.”), with operations worldwide. JPMorganChase had $5.0 trillion in assets and $375 billion in stockholders’ equity as of June 30, 2026. The Firm is a leader in investment banking, financial services for consumers and small businesses, commercial banking, financial transaction processing and asset management. Under the J.P. Morgan and Chase brands, the Firm serves millions of customers in the U.S., and many of the world’s most prominent corporate, institutional and government clients globally. Information about JPMorgan Chase & Co. is available at www.jpmorganchase.com.

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Psychedelic drug developers including AtaiBeckley Inc. (NASDAQ:ATAI, XETRA:9VC), Compass Pathways (NASDAQ:CMPS) and Cybin Inc. (NYSE-A:CYBN, FRA:R7E) could see a positive read-through after Johnson & Johnson (NYSE:JNJ) reported stronger second-quarter sales for its Spravato depression treatment, with Jefferies writing that the drug's commercial performance supports the long-term market opportunity for the sector.

Johnson & Johnson (NYSE:JNJ) reported worldwide second-quarter Spravato (esketamine nasal spray) sales of $584 million, up 25% from the first quarter, including US sales of $514 million. Jefferies wrote that the figures imply an annualized revenue run rate of more than $2.3 billion and keep the product on track to reach the company's previously guided annual sales of $3 billion to $3.5 billion by 2027-2028.

The analysts wrote that Spravato's momentum in treatment-resistant depression and major depressive disorder with suicidal ideation "supports the notion psychedelics can be commercially viable in hard-to-treat mental health disorders," citing Johnson & Johnson's investment in treatment sites, physician education and reimbursement.

Jefferies noted that Johnson & Johnson has guided for Spravato peak annual sales of up to $5 billion and estimated that more than 250,000 patients worldwide may have been treated with the therapy cumulatively.

The firm also pointed to increasing investor interest in psychedelic medicines following positive mid- and late-stage clinical trial data across depression, anxiety and post-traumatic stress disorder, alongside what it described as an improving regulatory backdrop and growing interest from large pharmaceutical companies.

Jefferies highlighted several upcoming milestones across the sector, including Compass Pathways (NASDAQ:CMPS)' planned rolling New Drug Application completion for COMP360 in the fourth quarter of 2026, which could support a potential approval by year-end and a commercial launch in the first half of 2027.

The analysts also pointed to AtaiBeckley’s Phase III program for BPL-003 in treatment-resistant depression, expected to generate data in early 2029, and upcoming Phase II data for VLS-01 later this year..

Jefferies added that Johnson & Johnson's network of approximately 7,000 to 8,000 US treatment sites could help facilitate future adoption of psychedelic therapies, noting that Atai's intranasal BPL-003 could fit within the same two-hour treatment framework currently used for Spravato.

Johnson & Johnson (JNJ) Q2 2026 Earnings Call Transcript

A screenshot has fueled speculation that the Depository Trust & Clearing Corporation (DTCC) has actually classified or listed XRP on its platform. 

However, researcher and XRPL validator Vet has made it clear that the viral claim is based on an AI-generated search response (not an official DTCC policy or documentation).

The confusion stems from a search performed on the DTCC Learning Center website. Searching for "XRP" returns an AI-generated summary titled "XRP Haircut and Classification," which states that XRP is "classified as a cryptocurrency" and describes hypothetical margin haircuts based on trading conditions.

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However, the cited source does not actually mention XRP. "It does not mention XRP in that source, so the DTCC site, when you search in that category for XRP, it tries to map via AI," Vet added. 

The generated response includes a disclaimer stating that "Generated content may contain errors. Verify important information." 

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Vet attributed the behavior to the enterprise search software used by the DTCC website. "You know why the AI triggers to map it for XRP? Because they use an answer machine that is based on relevant searches," he said. 

According to his explanation, people in the XRP community all searched massively for XRP in the past weeks and days, prompting the AI to come up with an answer as many people searched for it.

The software generates AI responses when users repeatedly search for the same topic. "The more you search for something like XRP, the more it gets triggered to generate an answer with AI to not leave people hanging," Vet said. 

The shared screenshots show HTML elements referencing Coveo Generated Answer. This confirms DTCC's Coveo's AI-powered enterprise search technology is used for generating responses.

DTCC's real digital asset pushThe confusion comes after the market infrastructure giant announced it had successfully processed live production trades using DTC-tokenized securities earlier this Wednesday. 

More than 30 financial institutions and digital asset companies, including BlackRock, Goldman Sachs, J.P. Morgan, Nasdaq, Chainlink, Circle, Microsoft and the New York Stock Exchange, but Ripple is missing from the list.  

XRP has reached a notable step toward broader adoption in traditional finance after the Depository Trust & Clearing Corporation (DTCC) categorized it as a cryptocurrency within its Learning Center, drawing renewed institutional interest. DTCC, a critical clearinghouse that processes trillions of dollars in U.S. securities trades daily, discussed XRP’s potential role in collateral and clearing arrangements, increasing the asset’s profile in regulated financial circles.

XRP gains visibility in DTCC guidanceOn-chain analytics provider Archie observed that XRP now appears in DTCC’s educational materials, explaining specifically how it may be considered for collateral management and clearing procedures. While the Learning Center is an informational resource and not a regulatory mandate, XRP’s listing signals that DTCC clients and partners are actively reviewing how cryptocurrencies might be handled in real-world finance operations.

The inclusion is considered significant given DTCC’s central position within the U.S. securities infrastructure, influencing the processes by which institutions manage risk, optimize collateral, and meet regulatory requirements.

DTCC presents XRP alongside its guidance for cryptocurrencies, outlining scenarios in which the digital asset could be designated as collateral and specifying how market volatility may affect its eligibility and capital efficiency in institutional settings.

The development comes as more major financial bodies assess digital assets for integration into existing settlement and risk frameworks, a trend that could help bridge the gap between traditional and crypto markets.

Haircut methodology brings new standardsAs part of its updates, DTCC outlined haircut rules for cryptocurrencies, including XRP. Haircuts refer to the percentage by which the value of an asset is reduced when calculating its collateral value, typically as a buffer against volatility and risk.

Chad Steingraber, a market analyst, noted that DTCC’s educational framework proposes higher haircuts for XRP valued at $5 or below. If XRP’s price exceeds this threshold, it may be subject to a standard 35% haircut or a charge calculated using the Value-at-Risk (VaR) method, with final levels set according to market liquidity and other risk factors. The $5 mark is not presented as a target but rather as a notional reference point for illustrating the rules within the learning resource.

A higher haircut reduces the amount of capital an institution can borrow using the asset as collateral, while a lower haircut increases its capital efficiency and attractiveness for financial operations.

ScenarioXRP Price ($)Haircut AppliedBelow Benchmark$5 or lessHigher haircut (exact figure not specified)Above BenchmarkOver $535% haircut or VaR chargeSteingraber believes that inclusion in DTCC’s guidelines enhances XRP’s credibility as an asset considered for sophisticated institutional operations.

Mini dictionary: Depository Trust & Clearing Corporation (DTCC) is a major financial services company in the United States, responsible for clearing and settling almost all securities transactions in the country’s financial markets.

Institutional integration and future prospectsDTCC’s mention of XRP follows its broader move toward utilizing blockchain and digital asset solutions in live financial infrastructure. The corporation recently shifted from pilot blockchain projects to deploying tokenization infrastructure, enabling regulated digital assets and collateral to move seamlessly across its network.

Ripple, through its platform Ripple Prime, is already working with DTCC’s digital asset ecosystem, offering institutional-grade custody and trading services that support the integration of cryptocurrencies like XRP into major clearing and settlement workflows.

This collaboration brings the potential for digital assets to attain broader acceptance as credible collateral in mainstream finance, expanding their use beyond speculative trading to functions such as capital optimization and liquidity management.

These developments highlight how the evolving treatment of assets like $XRP in clearinghouse policies and integration initiatives can accelerate their adoption across institutional markets and shape the infrastructure governing digital finance’s next era.

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.