Track market-moving stories before they get noisy

Three major cryptocurrency investment firms have initiated the withdrawal of approximately $150 million in HYPE tokens from Hyperliquid, prompting an 8% decline in the token’s value and raising questions about market stability as institutional positions unwind.

Major holders move to withdrawHyperliquid, a decentralized exchange known for its derivatives marketplace, saw pronounced activity from key institutional stakeholders including Multicoin Capital, Selini Capital, and Galaxy Digital. Multicoin Capital, a prominent venture firm with significant influence in the digital asset sector, currently controls $138.78 million in staked HYPE tokens and has set in motion the withdrawal of about $116 million from the staking protocol.

Meanwhile, Selini Capital and Galaxy Digital have also joined the exodus, lining up withdrawals of $4.4 million and $29.4 million respectively. On-chain data showed a wallet linked to Multicoin sending around 167,000 HYPE (valued at approximately $11.2 million) to the Coinbase exchange, suggesting possible preparations for a major transaction.

As the news circulated, HYPE’s price tumbled briefly to $57.39 before recovering to $59.19. Over the past 24 hours, trading activity for HYPE surpassed $415 million. However, the amount of pending withdrawals nearly doubles the daily spot trading volume, which stood at $72.8 million within the latest 28-hour window.

FundPending HYPE WithdrawalMulticoin Capital$116 millionGalaxy Digital$29.4 millionSelini Capital$4.4 millionBlock Liquidity recorded 1,463 buyers against 982 sellers during this period, with market maker Wintermute accumulating more than $9 million in net buys. The top net seller offloaded tokens valued at $5.2 million.

Market reaction and trading metricsHYPE has lost roughly 11% over the preceding seven days, underperforming other top ten digital assets by market capitalization in the same period. Data from CoinGlass revealed no inflow into HYPE ETF instruments on Wednesday, following a modest outflow of $0.7 million on Tuesday. Futures Open Interest stands at $2.5 billion, registering a 0.5% decrease in 24 hours.

Technical analyst CryptosBatman identified a key technical shift as HYPE slipped below its 50-day moving average after maintaining strength above this level for six months. The analyst forecast a correction towards $55, which aligns with the 1.618 Fibonacci extension, suggesting a crucial support target as selling pressure mounts.

Markets have observed HYPE break down from its 50-day moving average, forming a bearish continuation pattern. Projections indicate that $55 is the next notable price level to watch, as it coincides with key technical support.

Institutional withdrawal motivationsSelini Capital’s move to withdraw tokens has been connected to the shutdown of DreamCash’s HIP-3 CASH perpetuals market. The protocol’s design mandates that market operators stake 500,000 HYPE tokens as collateral, which are reclaimed when the market closes. Observers believe Selini may offload these tokens using over-the-counter channels.

Multicoin Capital’s unstaking is somewhat less transparent. The firm recently led a $1.75 million seed round for Trasia, an infrastructure project aiming to introduce perpetual contracts for Asian equities on the Hyperliquid platform. Tushar Jain, Multicoin’s managing partner, clarified on X that the tokens being unstaked are not intended for immediate sale, and the withdrawal process will complete on July 28.

Although significant amounts are being withdrawn, these tokens are not planned for immediate sale on the open market, according to Multicoin Capital’s leadership.

The final disposition of these tokens will become clearer after the unlock date. Until then, the market faces continued speculation about potential selling pressure and sentiment shifts.

Technically, HYPE now trades below its 50-day exponential moving average at $62.52. For a bullish reversal, the token must regain levels above $60.72 and reclaim the 50-day EMA to reestablish upward momentum. The Relative Strength Index is hovering near 40, while the MACD indicator remains below zero—both factors indicate persistent bearish sentiment. The 200-day EMA, currently at $50.77, continues to serve as a crucial long-term support.

Mini dictionary: Hyperliquid, a decentralized derivatives exchange, allows users to trade perpetual contracts and offers staking mechanisms for native tokens such as HYPE. Institutional staking refers to large-scale holders securing blockchain networks or supporting market operations while earning rewards.

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.

COINTELEGRAPH: Bitcoin ETFs snap seven-day inflow streak with $225M in outflows

In This Article Bitcoin ETF News: Seven Days of Inflows Snapped by -$225M OutflowWhy IBIT Keeps Winning Despite Not Being the Cheapest OptionBitcoin ETF News: Grayscale GBTC, The Fund That Still Drags the Whole ComplexThe CLARITY Act Catalyst and What It Actually Moved In Bitcoin news today, US spot BTC ETF funds recorded nearly $1Bn in net inflows over seven consecutive sessions through July 22, 2026 – their longest positive run in 11 weeks, with BlackRock IBIT capturing $319.16M of the $499.05M added this week alone.

However, that streak has already come to an end, as yesterday’s session closed with -$225M in outflows, even as Bitcoin has held steady above $65,000 despite ETF sell pressure.

Bitcoin climbed above $66,000 during the streak’s strongest two sessions, July 20 and July 21, according to 247 Wall St. The catalyst was news that President Trump had agreed to the ethics rules holding up the CLARITY Act.

This bipartisan digital-asset legislation, which would establish clearer regulatory boundaries for crypto markets, appeared to unlock a wave of institutional demand.

Bitcoin ETF News: Seven Days of Inflows Snapped by -$225M Outflow

(SOURCE: CoinGlass)

The last outflow day was July 13, when investors pulled $424.66M, the heaviest single-day withdrawal of the month. Since then, money has come back in every session, but not uniformly.

Flows on July 14 reached $181.08M, then faded to $107.80M on July 15, $79.15M on July 16, and recovered to $132.30M on July 17, according to CoinGlass data.

The two dominant sessions arrived with the CLARITY Act headlines. July 20 logged $226.92M, and July 21 added $203.14M as Bitcoin price pushed through $66,000.

By July 22, daily inflows had retreated to $68.99M, the weakest session of the entire streak. That deceleration pattern was telling, as yesterday saw -$225M in outflows, snapping the seven-day streak as a result.

The last time institutional demand for Bitcoin through ETF vehicles sustained this kind of multi-day consistency was in early October 2025, when Bitcoin was trading near its all-time high of approximately $126,000.

Why IBIT Keeps Winning Despite Not Being the Cheapest Option BREAKING: Bitcoin ETFs attracted +$900 million in inflows last week, the largest weekly inflow since early May.

This marks a sharp acceleration from +$197 million in inflows in the prior week.

The largest Bitcoin ETF, $IBIT, led the surge, attracting +$193 million last week,… pic.twitter.com/tr8lo363oX

— The Kobeissi Letter (@KobeissiLetter) July 22, 2026

The fee structure alone doesn’t account for IBIT’s dominance. Despite Fidelity FBTC charging no management fees and holding $11.38Bn in AUM, IBIT leads with $48.86Bn in AUM. Over ten years, the 0.25% annual fee for IBIT compounds significantly for long-term investors.

247 Wall St. attributes IBIT’s success to its distribution advantages. BlackRock’s products are familiar to pension managers and registered advisers, making purchasing IBIT a seamless experience with minimal compliance hurdles, rendering the fee less important.

Trading volume also highlights this concentration: on July 22, IBIT accounted for nearly 79% of the $1.11Bn in total trading across all 13 spot Bitcoin ETFs. IBIT holds 3.70% of all Bitcoins, while the other twelve ETFs combined hold only 2.38%, indicating significant institutional activity in IBIT during this period.

DISCOVER: The Next 1000x Crypto Gem Before It Lists on Binance

Bitcoin ETF News: Grayscale GBTC, The Fund That Still Drags the Whole Complex In other Bitcoin ETF news, Grayscale GBTC, the Grayscale Bitcoin Trust that converted from a closed-end fund to a spot ETF, remains the single largest structural headwind to the ETF complex’s net position. Since converting to ETF format, GBTC has shed $27.42Bn in cumulative outflows. On July 22 alone, another $38.30M left the fund.

The fee differential is the root cause. Grayscale charges 1.50% annually. IBIT charges 0.25%. For an investor holding $100,000 for five years, that 1.25 percentage-point gap compounds to roughly $6,500 in additional fees, before considering any performance difference.

The cumulative effect is that GBTC’s outflows have overwhelmed the genuine demand visible in IBIT and, to a lesser extent, other competitors.

Total net inflows across all 13 Bitcoin ETF funds stand at $51.85Bn since launch, but that figure is what remains after subtracting $ 27.42Bn from GBTC. Without GBTC’s drag, the headline numbers for the ETF complex would look considerably stronger.

$BTC — If we somehow deviate back and reclaim 65.5K on 4HR TF, we'll quickly see 70Ks!

Else chop continues till 64K.

I'm optimistic about upside movement due to the relative strength our orange coin had despite SPY weakness yesterday.

70K+ $BTC is programmed in the next few… pic.twitter.com/Ug9eGaGPUX

— Friedrich 🧲 (@FriedrichBtc) July 24, 2026

Trade BTC on ByBit and Join 99Bitcoin’s Exclusive $1000 USDT Airdrop

The CLARITY Act Catalyst and What It Actually Moved The CLARITY Act, or Digital Asset Market Clarity Act, had been stalled due to ethics-related disputes. Reports on July 20 about President Trump’s agreement to the ethics rules spurred significant inflows into the market.

Regulatory clarity reduces compliance risks, potentially allowing institutional investors like pension funds and insurance companies to hold Bitcoin ETFs more freely.

The $226.92M and $203.14M inflow days on July 20 and 21 indicate that institutions were anticipating this change, although yesterday’s large outflow has capped any bullish momentum built on a seven-day inflow streak.

However, if procedural delays arise again, the momentum could continue to flip red, as seen in the reduced $68.99M inflow on July 22, followed by yesterday’s outflow, both lacking fresh regulatory support.

EXPLORE: Best Crypto Presales With Asymmetric Upside in the Current Market

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Key Takeaways Matt Hougan, Bitwise CIO, identifies Hyperliquid and Robinhood as primary catalysts for crypto’s upcoming bull market Hyperliquid has experienced a 146% surge in 2026 with projected annual revenue reaching $800 million Robinhood Chain debuted July 1, attracting $300 million in deposits in just 14 days Bitcoin has climbed 9% throughout July while the Nasdaq-100 declined 6% Demand indicators for Bitcoin are showing renewed positive momentum, according to Bitwise analysis The Chief Investment Officer at Bitwise, Matt Hougan, anticipates a fundamental shift in the next cryptocurrency bull market. Rather than speculative fervor powering price appreciation, he foresees revenue-producing platforms and traditional financial sector integration taking center stage.

Matt Hougan: hyperliquid:native could double and still be fairly valued.

crypto’s next bull market may not be about “crypto vs tradfi”

it may be about crypto becoming the rails for tradfi.

stablecoins, tokenized stocks, 24/7 markets, instant settlement, and DeFi are all… pic.twitter.com/Ee9HLZlgWC

— Hyperliquid Daily (@HYPERDailyTK) July 23, 2026

In a Wednesday market analysis, Hougan outlined his perspective, highlighting two particular drivers: Hyperliquid and Robinhood.

Hyperliquid’s Revenue Generation Captures Industry Attention Originally launching as a cryptocurrency derivatives exchange, Hyperliquid has evolved into a comprehensive Layer 1 blockchain platform. Approximately half of its current trading activity now involves traditional assets including oil futures, silver, and S&P 500 exposure.

In June, the platform achieved a milestone of $1 billion in cumulative revenue and projects roughly $800 million in earnings for the current year. The protocol allocates 99% of these revenues toward HYPE token buybacks, creating deflationary pressure and price support.

This approach has proven effective. HYPE has surged approximately 146% during 2026, substantially outperforming the wider cryptocurrency sector.

Hougan additionally highlighted Uniswap, Aave, and Morpho as protocols adopting comparable revenue-sharing token economics.

Robinhood Chain Brings Crypto Trading to Global Markets Robinhood unveiled its proprietary Layer 2 blockchain network, Robinhood Chain, on July 1. The infrastructure enables users across 120 nations to access tokenized equity trading around the clock.

In its first two weeks, the blockchain attracted more than $300 million in user deposits and facilitated 3.6 million transactions daily. The platform also provides access to decentralized finance protocols such as Uniswap and Morpho.

Hougan acknowledged that initial usage has centered on meme coins rather than tokenized securities, though he anticipates equity trading volume will expand progressively.

Looking beyond Robinhood, Hougan recognized Coinbase and BlackRock as entities with substantial blockchain engagement. He also mentioned Visa, Stripe, and JPMorgan as organizations worth monitoring.

Bitcoin has appreciated 9% since early July, contrasting with a 6% decline in the Nasdaq-100 during the identical timeframe. Hougan interprets this performance gap as an initial indicator of market stabilization.

Bitcoin’s apparent demand indicator, which calculates the differential between freshly mined coins and supply dormant for more than a year, is displaying signs of improvement. Andre Dragosch, Bitwise’s European research director, characterized the movement as “re-accelerating.”

Capital flows into Bitcoin exchange-traded funds have also reversed to positive territory following a stretch of withdrawals, suggesting renewed institutional participation.

Hougan maintained an optimistic outlook overall. “I suspect the coming bull market will be big enough to lift most of the sector,” he stated, expressing confidence in Bitcoin, Ethereum, and Solana.

He acknowledged, however, that increased traditional finance integration introduces additional vulnerabilities, including heightened exposure to macroeconomic disruptions and evolving regulatory frameworks.

Poolin has filed for Chapter 11 bankruptcy protection in the United States as it moves to sell its Texas bitcoin mining assets under a court-supervised process while carrying about $173 million in prepetition obligations.

Summary

Poolin has filed for Chapter 11 bankruptcy while seeking to sell its Texas bitcoin mining assets through a court supervised auction. About $163.7 million of Poolin’s $173.1 million in prepetition obligations relates to IOUs issued after wallet withdrawals were suspended in 2022. Interest from AI infrastructure operators has helped drive bidding for the company’s power assets as miners increasingly repurpose data centers beyond bitcoin mining. According to filings in the U.S. Bankruptcy Court for the District of New Jersey, Singapore-based Poolin and its U.S. subsidiaries, Lonestar Dream Inc. and Lonestar Taproot LLC, filed voluntary Chapter 11 petitions on July 22. The debtors said the proceedings are intended to facilitate an orderly sale of their remaining assets rather than revive the business as an operating mining company.

Court records show Poolin estimated it has between 10,001 and 25,000 creditors, assets worth between $1 million and $10 million, and liabilities ranging from $100 million to $500 million.

A declaration filed by Chief Restructuring Officer Michael DuFrayne states that the companies owed approximately $173.1 million before bankruptcy. About $163.7 million of that total relates to unsecured IOUs issued to Poolin Wallet customers after withdrawals were suspended during the cryptocurrency market downturn in 2022.

Mining and hosting operations at the company’s Pyote and Tarbush facilities in West Texas ended on July 10, with only a small workforce remaining to secure the sites and assist with the sale process, according to the declaration.

Texas assets head to auction Meanwhile, the debtors have already signed separate asset purchase agreements with Thor CALAP LLC, establishing a combined stalking-horse bid of $52 million for the Texas assets.

The agreements include a $15 million offer for the Pyote property together with its related power rights and equipment, while a separate $37 million bid covers the Tarbush site’s power rights and equipment. Court filings note that the Tarbush transaction does not include the property’s surface-use agreement.

Under Section 363 of the U.S. Bankruptcy Code, the stalking-horse agreements set the minimum price for the auction while allowing higher competing offers before any final sale receives court approval. Each mining site may also be sold independently if separate bids provide better value for creditors.

Before reaching the proposed transactions, the debtors spent roughly three months marketing the assets to more than 335 prospective buyers and investors. According to the court declaration, the outreach targeted cryptocurrency miners, artificial intelligence and high-performance computing operators, hyperscale data center companies, private equity firms and real estate investment trusts.

The marketing effort resulted in 28 signed nondisclosure agreements and seven letters of intent covering both individual facilities and the combined portfolio.

Court filings state that interest from AI infrastructure operators increased the potential value of the sites because of their existing electrical systems and power capacity, even though Poolin’s own mining and hosting business had become unprofitable. Since their formation, Lonestar Dream and Lonestar Taproot accumulated losses of approximately $45.9 million.

Wallet collapse left customers with IOUs Founded in China in 2017 by Zhibiao “Kevin” Pan, Fa Zhu and Tianzhao Li, Poolin grew into one of the world’s largest bitcoin mining pools and held the top position globally by September 2019.

Alongside mining, the company expanded into financial services through Poolin Wallet, which allowed customers to borrow USDT against cryptocurrency collateral before later introducing interest-bearing deposit products.

The business model came under increasing pressure after China prohibited bitcoin mining in 2021 and digital asset prices declined sharply the following year.

According to the Chapter 11 declaration, Poolin transferred customer collateral to Antalpha Technologies and borrowed roughly $213 million against cryptocurrency valued at approximately $355.8 million at the time.

The filing states that the borrowed funds supported construction of the Texas mining facilities, purchases of mining machines, customer withdrawals, interest payments and day-to-day operating expenses.

As cryptocurrency prices continued falling, Poolin Wallet suspended withdrawals in September 2022 and distributed IOU tokens representing customers’ frozen balances.

Around 11,700 wallet users held balances exceeding $100 when approximately $163.7 million worth of IOUs were issued, according to the declaration.

The court filing further states that Antalpha liquidated Poolin’s collateral in November 2022, when management estimated the company owed about $260 million against digital assets then valued at roughly $265 million.

Since then, Poolin has not resumed normal business operations. Its remaining assets now include approximately $1.2 million held in a New Jersey bank account, an office lease and an intercompany claim. Certain Poolin Wallet users have also filed legal claims against the debtors in both the United States and Singapore.

Mining infrastructure attracts AI interest While the bankruptcy centers on creditor recoveries, the sale process also shows how mining infrastructure has become valuable for buyers outside the cryptocurrency industry.

According to the Chapter 11 declaration, many parties approached during the marketing process were focused on artificial intelligence and high-performance computing rather than bitcoin mining alone, as existing power connections and electrical infrastructure have become increasingly attractive for AI data center projects.

Poolin’s bankruptcy also comes months after another major mining operator entered insolvency proceedings. Earlier this year, Russian miner BitRiver faced court-supervised bankruptcy over unpaid debts tied to power supply, data center operations and service contracts.

The interest follows a pattern already emerging across publicly listed mining companies. Earlier this week, Ionic Digital secured SEC approval for its planned Nasdaq listing after repositioning much of its business toward AI infrastructure. The company, created from Celsius Network’s bankruptcy restructuring, has converted part of its Texas campus from bitcoin mining to AI computing under a long-term agreement with AI cloud provider Nscale.

A similar strategy has been adopted by IREN, which acquired Spain’s Nostrum Group in June to add approximately 490 megawatts of grid-connected power for AI cloud expansion across Europe. The company has reported rising AI cloud revenue even as bitcoin mining income declined. HIVE Digital and Bitdeer have also announced projects converting mining facilities into high-performance computing infrastructure.

Poolin’s case differs from those companies because it is liquidating assets through Chapter 11 rather than expanding into AI operations itself. Still, the court filings indicate that demand from AI-focused buyers has strengthened interest in the Texas properties during the auction process.

The debtors said unsecured creditors, including Poolin Wallet customers, could receive distributions if the auction produces successful sales. According to the Chapter 11 filings, however, the final recovery will depend on competing bids, administrative expenses, sale costs and court approval of a liquidation plan.

Matt Hougan, Chief Investment Officer at Bitwise, expects the upcoming cryptocurrency bull market to be spearheaded by platforms generating real revenue and by deeper integration with traditional finance, rather than solely by speculation. Hougan outlined his views in a recent market analysis, drawing attention to two platforms he believes are pivotal: Hyperliquid and Robinhood.

Hyperliquid expands beyond crypto derivativesHyperliquid, which initially operated as a cryptocurrency derivatives exchange, has evolved into a multifunctional Layer 1 blockchain platform. According to recent data, roughly half of Hyperliquid’s current trading activity now includes exposure to traditional assets such as oil futures, silver, and the S&P 500, marking a significant expansion from digital assets to legacy markets.

In June, Hyperliquid surpassed $1 billion in cumulative revenue and is predicting annual earnings of $800 million for 2026. The platform’s protocol is structured to use 99% of these revenues for HYPE token buybacks, a strategy that has introduced deflationary pressures and strong support for the token’s price.

This mechanism appears to be effective: the value of HYPE has increased by about 146% in 2026, far outpacing many other digital assets during the same period.

Hougan also identified other protocols—namely Uniswap, Aave, and Morpho—as adopting similar models for sharing revenue with token holders.

Mini dictionary: Hyperliquid is a blockchain-based platform that started as a derivatives exchange and has transitioned to a Layer 1 blockchain supporting a range of asset classes, including both digital and traditional financial instruments.

PlatformRevenue Model2026 Revenue/ProjectionKey FeatureHyperliquidToken buybacks$800 million (projected)TradFi and crypto assetsUniswapFee distributionNot specifiedDecentralized exchangeAaveProtocol feesNot specifiedLending platformMorphoYield enhancementNot specifiedDeFi optimizationRobinhood Chain opens global access to tokenized tradingRobinhood, a commission-free trading platform known for popularizing equity trading among retail investors, launched its proprietary Layer 2 blockchain, Robinhood Chain, on July 1. The network supports 24/7 access to tokenized equities and is available to users in 120 countries, bringing traditional stocks to the blockchain sector.

In just 14 days, Robinhood Chain has attracted more than $300 million in user deposits and processed an average of 3.6 million transactions daily. The new blockchain integrates with decentralized finance applications including Uniswap and Morpho, broadening its utility for users.

Although early user activity has largely centered on meme coin trading rather than tokenized equities, Hougan suggested that trading in equities is likely to grow as adoption widens.

Mini dictionary: Robinhood is an American financial services company that provides commission-free trading of stocks, exchange-traded funds, and cryptocurrencies, now expanding into blockchain infrastructure with Robinhood Chain.

Bitcoin sees renewed demand amid institutional interestBeyond these two platforms, Hougan called attention to major institutions such as Coinbase and BlackRock, as well as financial giants including Visa, Stripe, and JPMorgan, who are also increasing their activity within blockchain and digital assets.

Bitcoin has recorded a 9% price rise through July, contrasting with a 6% fall in the Nasdaq-100 over the same period. Hougan interprets this outperformance as a sign of improving sentiment for digital assets.

A key demand indicator for Bitcoin—measuring the difference between newly mined coins and coins held dormant for over a year—is also improving. Andre Dragosch, Bitwise’s European research lead, described this trend as “re-accelerating.”

Recent data shows that fund inflows into Bitcoin exchange-traded funds have turned positive after a period of withdrawals, suggesting renewed interest from professional investors.

Hougan remains optimistic about the sector, projecting that the next bull market will be broad enough to benefit much of the industry, including Bitcoin, Ethereum, and Solana.

Still, he cautioned that closer integration with traditional finance brings additional risks—such as heightened exposure to overall economic trends and shifting regulatory requirements.

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.

Strategy (NASDAQ: MSTR) stock price dropped by 6.38% on July 24, to close trading at $93. The drop occurred as Strategy announced a change to how it measures Bitcoin exposure to common shareholders, saying that the exposure will be measured in terms of the net BTC reserve and not the gross holdings.

The change comes ahead of the company’s earnings for the period between April 2026 and June 2026 that are coming out on July 30.

Strategy Unveils New Bitcoin Valuation Framework In a recent explanatory video posted on X, Strategy said that it will be using the net Bitcoin per share to calculate the mNAV, and not the company’s gross holdings that it used before.

The Bitcoin treasury company will calculate this Net BTC per share after deducting the company’s net debt and preferred liabilities from the value of the Bitcoin that it holds.

Data from Strategy now shows that the company holds 554,569 in net Bitcoin, while its gross holdings stand at 843,775 BTC.

These changes come shortly after Strategy CEO Phong Le said that the company will not buy more Bitcoin until the STRC preferred stock reaches $100. He said the company was doing this at the behest of shareholders.

Strategy has also been selling MSTR stock and Bitcoin holdings to increase its USD reserve to help bring back the STRC price to the par price of $100.

Still, Strategy recently moved to establish a Bitcoin Security Consortium alongside Coinbase, BlackRock and ARK Invest to improve BTC security, suggesting that the company remains committed to its treasury plans.

MSTR Stock Price Crashes Below Key Support MSTR stock price closed below the support of $94 on July 23. The drop occurred due to selling pressure around US stocks caused by escalating geopolitical tensions that also pushed the S&P 500 index to 7,408 points.

If Strategy share price closes below this support of $94 for three straight days, it might drop to the June 26 low of $81.

The CMF reading of -0.11 suggests that this drop to $81 might occur because the selling pressure remains more than the buying pressure.

However, this CMF line is rising, suggesting that sellers are gradually losing momentum. This might create room for buyers to step in and defend the support of $94.

MSTR Price Chart (Source: TradingView) If MSTR stock closes above $94, the shares might move to the 20-day EMA of $99. But such gains would depend on a rise in buying pressure.

Cantor Fitzgerald Reiterates $212 Target for MSTR Stock Cantor Fitzgerald, an asset management firm with $13 billion in assets under management, has reiterated a $212 target for the MSTR stock.

The asset manager says that the recent changes that Strategy is making to increase its cash reserves could drive gains for STRC and MSTR stocks.

It also adds that there is no risk to Strategy selling Bitcoin because the market could easily absorb the sold coins.

Still, Cantor says that Strategy’s market share as a crypto treasury company could be eroded by other firms because of STRC’s de-peg from its par of $100. A decline in Bitcoin price could also pull MSTR stock down, per the asset manager.

Singapore-based Bitcoin mining pool Poolin and two of its US affiliates filed for Chapter 11 bankruptcy in a New Jersey court on Wednesday.

Poolin’s court filing shows that the mining pool operator has estimated liabilities of $100 million to $500 million, assets of $1 million to $10 million and 10,001 to 25,000 creditors.

Poolin and its affiliates are also seeking court approval to sell two West Texas mining sites to Thor CALAP LLC under a proposed $52 million stalking-horse bid. This includes $37 million for the Tarbush assets, including assumed liabilities, and $15 million for the Pyote site, including the power rights, equipment and all other assets tied to the mining facilities.

The proposed sale would be subject to a court-supervised auction, with a bid deadline of Sept. 8 under the proposed bidding procedures.

Poolin was once the world’s largest Bitcoin mining pool in 2019. It now ranks as the 17th largest mining pool operator by hashrate, with a 0.2% market share, according to Hashrate Index.

Bitcoin miners increasingly turn to restructuring and AIBitcoin mining operations are facing growing financial constraints due to rising electricity costs, forcing some operations to shut down while others are seeking new revenue sources.

In February, NFN8 Group and two of its affiliates filed for Chapter 11 bankruptcy in the Western District of Texas. 

Other miners have sought to diversify into AI infrastructure. In November 2025, Bitfarms initiated a complete wind-down of its Bitcoin mining operations to pivot to AI and high-performance computing data centers.

On Monday, Bitcoin mining companies Hut 8 and IREN announced major AI infrastructure deals. Hut 8 announced a 15-year, $9.8 billion lease for its AI data center campus and IREN disclosed $2.8 billion in cloud services contracts with AI developers. Earlier in July, MARA Holdings announced plans to acquire a Texas site with up to 2 gigawatts of capacity to expand its AI and digital infrastructure business.

Wealth management company Bernstein said that deals with third-party providers, such as Bitcoin miners, will be necessary for AI companies seeking to address the computing power limits of AI data centers.

Magazine: Bitcoin nearing late stages of bear market: Jamie Coutts, Real Vision

Cointelegraph is committed to independent, transparent journalism. This news article is produced in accordance with Cointelegraph’s Editorial Policy and aims to provide accurate and timely information. Readers are encouraged to verify information independently.

TL;DR Table of Contents

TL;DRPoolin Falls From Bitcoin Mining Leader to Bankruptcy ProtectionPoolin’s 2022 Liquidity Crisis Triggered Customer LossesWest Texas Mining Sites Put up For Sale Poolin filed Chapter 11 bankruptcy with approximately $173.1 million in debt. The amount includes $163.7 million owed through customer IOUs. The former top Bitcoin mining pool plans to sell two West Texas mining sites with a combined opening bid of $52 million. Poolin’s collapse follows its 2022 liquidity crisis when it suspended wallet withdrawals and issued IOUs to affected users. Poolin, once the world’s largest Bitcoin mining pool, has filed for Chapter 11 bankruptcy protection in the United States, marking another major collapse in the crypto mining sector following years of market pressure, liquidity challenges, and declining profitability.

The company, along with two U.S. affiliates, submitted bankruptcy filings in New Jersey and plans to auction two mining facilities in West Texas with a combined opening bid of approximately $52 million. Court documents show Poolin faces around $173.1 million in total liabilities, including roughly $163.7 million in IOUs issued to Poolin Wallet customers after withdrawals were suspended in 2022. 

Former No. 1 Bitcoin Mining Pool Poolin Files for Chapter 11

Poolin and two U.S. affiliates have filed for Chapter 11 bankruptcy protection in New Jersey and plan to sell two West Texas mining sites with a combined opening bid of USD 52 million. Court filings show approximately… pic.twitter.com/e1nP49dZuE

— Wu Blockchain (@WuBlockchain) July 24, 2026

The bankruptcy represents a dramatic reversal for a company that briefly controlled the largest share of Bitcoin mining pool activity in 2019 and became one of the most recognized names in the global mining industry.

Poolin Falls From Bitcoin Mining Leader to Bankruptcy Protection Founded in 2017, Poolin quickly became one of the most powerful Bitcoin mining pools by attracting miners with competitive payout structures and infrastructure designed for large-scale operations.

At its peak in 2019, Poolin ranked as the world’s largest Bitcoin mining pool, accounting for a significant portion of Bitcoin’s total network hashrate. Mining pools are essential in Bitcoin’s ecosystem because they allow individual miners to combine computing power and receive more consistent rewards compared with solo mining. 

However, the company’s position weakened as the mining industry entered a period of intense financial pressure. Rising electricity costs, declining Bitcoin prices during bear markets, increasing mining difficulty, and the 2022 crypto downturn placed significant stress on mining companies worldwide.

The bankruptcy filing now puts Poolin’s remaining assets under court supervision as creditors await the outcome of the planned asset sale.

Poolin’s 2022 Liquidity Crisis Triggered Customer Losses Poolin’s financial troubles became public in September 2022 when the company suspended withdrawals from its Poolin Wallet service, citing liquidity issues.

At the time, Poolin said it was working to preserve assets and stabilize operations while developing solutions for affected users. The company later introduced IOU tokens representing outstanding balances owed to customers.

The withdrawal freeze affected miners and customers who held Bitcoin and other digital assets through Poolin’s custodial wallet platform. The incident became another reminder of the risks associated with storing crypto assets with centralized service providers.

The outstanding IOU obligations now represent the largest portion of Poolin’s reported debt, accounting for more than $160 million of the company’s liabilities. 

West Texas Mining Sites Put up For Sale As part of the restructuring process, Poolin plans to sell two mining sites located in West Texas.

The facilities will be auctioned with a combined starting bid of $52 million, as the company attempts to generate funds for creditors and maximize recovery value through Chapter 11 proceedings. 

Texas became one of the world’s biggest Bitcoin mining hubs after China’s 2021 mining crackdown forced many operators to relocate. The state attracted miners due to its abundant energy resources, deregulated electricity market, and crypto-friendly policies.

However, the region has also faced challenges, including grid reliability concerns, competition for power resources, and periods of reduced profitability during Bitcoin market downturns.

Poolin’s asset sale highlights the broader consolidation taking place across the mining industry, where smaller and financially weaker operators have struggled to survive against larger firms with cheaper energy access and stronger balance sheets.

US-Iran War Update: Iran Rejects Ceasefire, Prepares for Trump’s ‘Massive Attack’

Key Takeaways XRP currently sits at $1.13, representing a 69% decline from the $3.65 record high reached in January 2026 Large holders controlling 100K–100M XRP accumulated 600 million tokens (approximately $678M) during a five-week period CLARITY Act approval probability ranges from 39–43%, with Senate Republicans unveiling revised legislation on July 22 XRP exchange-traded funds recorded no activity on July 22, though year-to-date 2026 inflows exceed $200 million Technical analysis reveals a bullish flag formation suggesting potential upside to $1.24 upon breaking $1.16 resistance As of July 23, 2026, XRP maintains a price level of $1.13. This represents a significant 69% retracement from the token’s peak valuation of $3.65 achieved earlier this year in January.

XRP Price While prices have retreated substantially, institutional-sized wallets continue accumulating. According to Santiment analytics, addresses containing between 100,000 and 100 million XRP tokens increased their positions by 600 million coins throughout the five-week window ending July 22. At prevailing market rates, this accumulation represents approximately $678 million in capital deployment—marking a 2.8% expansion in their aggregate holdings.

🐋 XRP’s move back above $1.16 Tuesday looks very much justified based on recent wallet behavior. Whales & sharks holding 100K to 100M XRP have added +2.8% more coins to their bags in five weeks, showing whales and sharks are leaning in while the chart finally starts rewarding… pic.twitter.com/aFmRll4HKJ

— Santiment Intelligence (@SantimentData) July 21, 2026

Daily trading activity registers at $980 million according to CoinMarketCap figures. Futures open interest has contracted to $2.50 billion from the June 1 level of $2.96 billion, based on Coinglass tracking. Derivatives market activity has likewise declined from February 2026’s $15 billion peak to the current $1.91 billion level.

The XRP Ledger achieved a milestone this month by processing over 1 million agentic transactions. Additionally, the XRPL Lending Protocol went live, introducing institutional-grade credit infrastructure to the ecosystem.

CLARITY Act Becomes Central Catalyst The most significant near-term catalyst affecting XRP remains the CLARITY Act legislation. Brad Garlinghouse, Ripple’s chief executive, has openly called on lawmakers to approve the measure prior to the August Congressional recess. On July 22, Senate Republicans published revised bill language incorporating an ethics clause that prohibits presidential issuance of digital assets.

This amendment has failed to secure Democratic support. Legislative debate centers on whether state attorneys general should oversee ethics enforcement. Polymarket prediction markets currently price passage probability between 39% and 43%.

Exchange-traded fund activity for XRP recorded zero net flows on July 22, seemingly correlated with legislative uncertainty. Despite ongoing price weakness, cumulative 2026 net inflows surpass $200 million.

Critical Technical Thresholds Chart analysis on the 4-hour timeframe shows XRP developing a bull flag configuration. This pattern measures 7.25% in height, projecting an upside objective of $1.24 contingent on a confirmed breakout above $1.16 resistance.

Source: TradingView The Relative Strength Index registers 55, suggesting moderately bullish momentum conditions. XRP is currently trading above both its 50-day exponential moving average at $1.11 and 200-day exponential moving average at $1.12.

Should the price breach support at $1.11, downside pressure could drive the token toward the July 20 trough of $1.08.

Standard Chartered analysts maintain their $8 price forecast for XRP in 2026, extending to $28 by 2030. Larry Fink, BlackRock’s chief executive, commented that recent market liquidations eliminated excessive leverage positioning, stating he has turned “very bullish” on cryptocurrency price recovery prospects.

XRP exchange-traded products have attracted more than $200 million in net capital inflows during 2026, persisting despite sustained price depreciation.

Jul 24, 2026, 6:33 a.m.

2 min read

Ripple Labs CEO Brad Garlinghouse (Jesse Hamilton/CoinDesk)Summary

Ripple launched Ripple Mint, an automated platform for institutions to create, redeem, bridge and track its dollar-backed RLUSD stablecoin, and expanded the token to additional networks including the XRPL EVM sidechain, Base, Optimism, Ink and Unichain.The company also made a strategic investment in compliance network Notabene, integrating RLUSD into its business-payments platform to encourage institutional use of the token for real transaction volume.RLUSD now has a market value of about $1.5 billion with supply split between the XRP Ledger and Ethereum, but despite rising holder counts and active addresses, its market cap and monthly transfer volume have declined, suggesting it is being held more than used.Fintech firm Ripple made two moves on Thursday aimed at growing its dollar-backed stablecoin, RLUSD, in a month when transfer volume across the token has dropped by 25%.

The first is Ripple Mint, a platform that lets institutional customers create, redeem, bridge and track RLUSD through a web dashboard or direct integration.

Until now, minting RLUSD — the process of issuing new tokens when a customer deposits dollars — generally meant arranging it directly with Ripple and waiting on a manual issuance process. The APIs let a firm trigger minting and redemption automatically from its own systems and track each transaction from dollar transfer to onchain settlement.

Ripple has also been extending RLUSD beyond the XRP Ledger and Ethereum onto the XRPL EVM sidechain, Base, Optimism, Ink and Unichain, widening the number of networks where the token can circulate.

Separately, Ripple announced late Thursday a strategic investment in Notabene. This compliance network places RLUSD inside its business-payments platform, putting the token in front of institutions positioned to send and receive it.

So, while Mint is designed to make RLUSD simple to create and manage, Notabene is built to get it moving through institutional payment rails.

That gap between issuance and actual usage is exactly the point, because of where RLUSD sits right now. The token has a market value of about $1.5 billion, according to data from RWA.xyz, making it one of the larger regulated stablecoins, though still a fraction of Tether and Circle's USDC.

Its supply is divided almost evenly between the XRP Ledger, which holds roughly $877 million, and Ethereum at about $643 million.

The trajectory is mixed. Data assessed by CoinDesk shows that RLUSD's holder count and active addresses have climbed sharply over the past month, up 6% and 70%, a sign the user base is broadening quickly.

But its market cap slipped almost 5% over the same 30 days, and monthly transfer volume fell about 25%, from roughly $14.6 billion to $11 billion. That shows more wallets are holding RLUSD while less money is moving across it. A stablecoin that is accumulating holders but not transactions is being treated more as something to own than something to use.

RLUSD is issued by Standard Custody & Trust, which holds a limited-purpose trust charter from New York's financial regulator, the compliance credential Ripple leans on to court banks in a market where regulatory clarity has become the main battleground.

Growing a stablecoin's supply is one challenge. Turning it into infrastructure that institutions run real volume through is the harder one, and Thursday's launches are Ripple's bet on the second.

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Crypto Flows, Share and the Selective Rotation

Crypto Flows, Share and the Selective Rotation

Markets repositioned since June, but Binance held share (~55% user funds, ~24% spot) and drew net inflows in early July while the tracked market saw outflows.

Jul 22, 2026

Markets repositioned since June, but Binance held share (~55% user funds, ~24% spot) and drew net inflows in early July while the tracked market saw outflows.

Why it matters:

Markets repositioned since June, but Binance held share (~55% user funds, ~24% spot) and drew net inflows in early July while the tracked market saw outflows.

XRPL Commons Launches Three-Track Grants ProgramXRPL Commons, a nonprofit organization that helps grow the XRP Ledger through developer education, startup support, and community programs, unveiled a new grants structure for teams building on the blockchain. The program is structured across three distinct tracks, each designed to serve a different type of builder.

Early Stage Grants provide milestone-based funding, meaning money is released when teams meet agreed development or growth targets. Applicants need a working product on either testnet or mainnet. A second track targets startups at a more advanced stage, while the third track targets established products already operating on the network. The program combines grants with technical guidance, mentorship, and help bringing products to market.

RippleX amplified the initiative as the ecosystem expands its developer resources. The launch also includes incubator access and migration support for projects moving onto the XRP Ledger from other chains.

$550 Million Invested Since 2017Since 2017, more than $550 million has been deployed directly into XRPL ecosystem initiatives, including non-equity grants, builder incentives, strategic partnerships, and growth programs. Since 2021, these 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, e-commerce, carbon markets, and enterprise financial applications.

As the ecosystem matures, the focus is shifting toward expanding access to funding through more distributed and independent pathways. Historically, much of the XRP Ledger ecosystem funding flowed through Ripple-supported initiatives such as XRPL Grants. While those programs remain important, 2026 marks a shift toward a more distributed model, where independent organizations, regional hubs, venture partners, and community-led initiatives play a larger role in supporting builders.

XRPL Commons will continue existing programs such as GLOW and The Aquarium, an incubator located in Paris. Partner organizations supporting ecosystem development include a100x Ventures, Superscrypt, Reforge, New Form Capital, Dragonfly, Pantera, Franklin Templeton, and Tenity.

Sources:
XRPL Commons Unveils New Grants Program to Accelerate XRP Ledger Builder Growth (Bitcoin.com)
Supporting Innovation on the XRP Ledger: What's Changing in 2026 (Ripple)

Bitcoin (BTC) stalls near the 50-day Exponential Moving Average (EMA) at $65,145 after a mild correction earlier this week. Meanwhile, Ethereum (ETH) and Ripple (XRP) face rejection at key resistance levels, keeping the short-term technical outlook bearish.

Bitcoin could recover if 50-day EMA holds as supportBitcoin price trades at $65,300 on Friday, with a neutral-to-slightly bullish near‑term tone as spot action holds just above the 50‑day Exponential Moving Average (EMA) at $65,145 while still trading beneath the 100‑day and 200‑day EMAs at $67,980 and $74,094, respectively. This configuration suggests the bounce from the recent base is gaining traction but remains a corrective move within a broader capped structure.

The Relative Strength Index (RSI) at around 54 points to steady, non‑overbought upside momentum, while the positive Moving Average Convergence Divergence (MACD) reading above the zero line suggests bullish pressure is improving but not yet strong enough to challenge the higher daily trend barriers.

On the downside, immediate support is located at the reclaimed 50‑day EMA near $65,145, with a stronger demand zone emerging at the prior horizontal floor around $64,004 if sellers regain control. 

On the topside, initial resistance is seen at the 100‑day EMA clustered near $67,980, ahead of the more decisive medium‑term hurdle at the 200‑day EMA around $74,094; a sustained break above these levels would be needed to reopen the path toward the distant horizontal resistance at $84,410.

Ethereum faces rejection from the 100-day EMAEthereum price trades at $1,875 on Friday and holds above the 50-day EMA at $1,831, hinting at a modestly constructive short-term tone, but remains capped beneath the 100-day EMA at $1,938 and the distant 200-day EMA at $2,187, which keep the broader recovery in check. 

The RSI at 56 sits in positive but non-extreme territory. At the same time, the MACD remains in positive territory, together suggesting steady but not explosive bullish momentum as long as price holds above the 50-day EMA.

On the topside, immediate resistance is at the 100-day EMA near $1,938, with a break there exposing the psychological horizontal barrier at $2,000, then the 200-day EMA at $2,188. 

On the downside, initial support is provided by the 50-day EMA around $1,831, ahead of a more distant structural floor at $1,385, where buyers would be expected to re-emerge on a deeper pullback.

XRP sits below key EMAsXRP price trades at $1.111 on Friday, holding a bearish near-term bias as it sits below the 50-, 100-, and 200-day EMAs clustered overhead. The 50-day EMA at $1.143 is the nearest dynamic cap, with the longer 100-day EMA at $1.232 and the 200-day EMA at $1.440 reinforcing a broader downside structure, even as the RSI hovers near a neutral 49, and the MACD remains marginally positive, hinting at only modest countertrend buying interest.

On the topside, initial resistance is at the 50-day EMA near $1.143, followed by the 100-day EMA near $1.232; a stronger recovery would face further hurdles at the $1.300 horizontal barrier, ahead of the 200-day EMA at $1.440 and the distant $1.900 resistance line. 

On the downside, the first significant support emerges at the $1.000 psychological and horizontal level, where bulls would be expected to defend the broader range if selling pressure resumes.

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

Cryptocurrency metrics FAQs The developer or creator of each cryptocurrency decides on the total number of tokens that can be minted or issued. Only a certain number of these assets can be minted by mining, staking or other mechanisms. This is defined by the algorithm of the underlying blockchain technology. On the other hand, circulating supply can also be decreased via actions such as burning tokens, or mistakenly sending assets to addresses of other incompatible blockchains.

Market capitalization is the result of multiplying the circulating supply of a certain asset by the asset’s current market value.

Trading volume refers to the total number of tokens for a specific asset that has been transacted or exchanged between buyers and sellers within set trading hours, for example, 24 hours. It is used to gauge market sentiment, this metric combines all volumes on centralized exchanges and decentralized exchanges. Increasing trading volume often denotes the demand for a certain asset as more people are buying and selling the cryptocurrency.

Funding rates are a concept designed to encourage traders to take positions and ensure perpetual contract prices match spot markets. It defines a mechanism by exchanges to ensure that future prices and index prices periodic payments regularly converge. When the funding rate is positive, the price of the perpetual contract is higher than the mark price. This means traders who are bullish and have opened long positions pay traders who are in short positions. On the other hand, a negative funding rate means perpetual prices are below the mark price, and hence traders with short positions pay traders who have opened long positions.

Ethereum [ETH] is currently seeing strong staking demand compared to the market distress in Q4 2025. 

According to analytics platform Arkham, the Ethereum validator exit queue has dropped to zero with no waiting time, signaling that stakers have ‘long-term conviction.’

For comparison, during the market crash late last year, ETH queued for exit peaked at 2.6M ETH, and the waiting time was about 44 days. Now, it takes 0 minutes to withdraw staked ETH. 

Source: Validator Queue  Will Ethereum staking demand boost ETH value? In contrast, the entry queue is taking nearly 44 days to get into the staking ecosystem. About 2.5 million ETH is currently waiting to be staked, underscoring a massive divergence between demand and exit. For Arkham, this was a bullish signal. 

This imbalance demonstrates robust demand to stake ETH. This development supports tighter ETH supply dynamics, as more capital flows into staking than leaves it.

Source: Validator Queue Worth noting that staked ETH has surged to 40.9 million ETH, marking a 14% year-on-year (YoY) increase. This translates to a record high of 33.97% in the staking ratio relative to the overall ETH supply. 

But staking is just one side of the demand line. In fact, part of the staking demand comes from the U.S. spot ETH ETF and treasury firms like Bitmine. 

Speaking of the U.S. Spot ETH ETF, the products have been positive in the past two weeks, lifting the price from below $1.8K to nearly $2K. 

Source: Glassnode If the flows remain green, perhaps the $2K psychological level could be decisively reclaimed as support. 

And institutional positioning in the Options market signaled a similar stance. In the past 24 hours, calls (bullish bets) were the most dominant trading volume for the September and early August option expiries, eyeing $2.4K and $2K targets, respectively. 

Source: Arkham As of writing, the altcoin was valued at $1.926K as the market focused on the CLARITY Act passage ahead of Congress’ August recess. If the bill stalls, ETH price will likely slip lower.

However, any resolutions on key issues like ethics and subsequent passage of the bill would eventually lift the entire market. In other words, regulatory developments could remain a key catalyst in Q3. 

Final Summary ETH validator exit queue has dropped to zero while the entry line hit 2.5M ETH with a 44-day waiting period.   Option traders were betting on an ETH rally to $2K-$2.4K despite uncertainty on CLARITY Act passage.

Key Takeaways Ethereum hovers around $1,927, unable to reclaim the critical $2,000 threshold despite climbing 27% from June’s bottom Surging crude oil costs are amplifying inflation concerns, driving September Federal Reserve rate hike probability to 79% Spot Ethereum ETFs in the United States registered $72.64 million in net inflows on July 22, with BlackRock contributing $53.47 million BitMEX’s September 23 closure introduces additional uncertainty regarding leverage trading and market liquidity for ETH Data from CryptoQuant indicates ETH is trading 17% under its realized price of approximately $2,300, a zone often associated with historical undervaluation Ethereum finds itself trapped in a consolidation zone beneath the psychologically important $2,000 mark. On July 23, the asset exchanged hands near $1,927 following an intraday peak of $1,941. While this represents a substantial 27% climb from the June nadir around $1,514, persistent rejections near $1,955 have blocked any meaningful push toward the $2,000 milestone.

Ethereum (ETH) Price The primary drag on price action stems from developments in energy markets. Escalating geopolitical tensions across the Middle East have propelled crude prices upward for five consecutive trading sessions. West Texas Intermediate crossed the $90 per barrel threshold after Houthi militants targeted Saudi oil infrastructure, sparking fresh supply disruption concerns. Elevated energy costs threaten to reignite inflationary pressures and constrain the Federal Reserve’s flexibility on monetary policy.

Market participants have already recalibrated their expectations. CME FedWatch data reveals the implied probability of a September interest rate increase has jumped from 68% to 79%. Such a tightening monetary backdrop typically creates headwinds for speculative assets including cryptocurrencies.

Institutional Flows Provide a Floor Even with challenging macroeconomic conditions, institutional capital continues entering the market. According to SoSoValue, U.S. spot Ethereum exchange-traded funds attracted $72.64 million in net inflows on July 22. BlackRock’s iShares Ethereum Trust dominated the flow, capturing $53.47 million of that figure.

According to SoSoValue, U.S. spot Bitcoin ETFs recorded total net inflows of USD 68.99 million on July 23, led by BlackRock’s IBIT with USD 38.78 million. Spot Ethereum ETFs drew USD 72.64 million, with BlackRock’s ETHA posting the largest single-day inflow at USD 53.47 million.… pic.twitter.com/wHHDMkqnLj

— Wu Blockchain (@WuBlockchain) July 23, 2026

Market analyst Ted Pillows highlighted the persistence of spot buying pressure. He stated: “Spot demand is strong and the key support zone hasn’t been lost. IMO, Ethereum could begin its next move up in a few days.” Pillows identified $2,030 as the initial upside objective, with more significant resistance concentrated around $2,400.

Independent trader Daan Crypto Trades observed that Ethereum has demonstrated relative strength versus Bitcoin. He suggested that ETH/BTC dominance could experience a rotation if Ethereum maintains its outperformance, although Bitcoin dominance has yet to exhibit signs of weakening.

Blockchain Metrics and Emerging Challenges A recent CryptoQuant analysis reveals ETH is trading approximately 17% beneath its realized price near $2,300. This valuation zone has historically aligned with long-term market bottoms. That said, only two out of CryptoQuant’s five bottom confirmation indicators have triggered thus far.

In separate developments, BitMEX declared it will cease operations on September 23. The platform has facilitated trading for more than 2 million users since its 2014 launch. Clients have been instructed to liquidate open positions and withdraw their assets before the shutdown date.

According to Staking Rewards, a record 34% of Ethereum’s circulating token supply is currently locked in staking contracts. Tom Lee’s Bitmine Immersion Technologies has accumulated 325,000 ETH within the past month and has stated its ambition to control 5% of total ETH supply.

For bullish momentum to resume, ETH requires a 4-hour candle close above $1,955, which would establish a pathway toward the $2,000–$2,030 range. A breakdown below $1,860 would compromise the current recovery pattern.

The 'Big Short' Michael Burry warns to watch long-term US Treasuries, which are facing multiple pressures including surging AI-related debt and oil prices approaching $100.

"The Big Short" prototype Michael Burry posted that people should closely monitor the trend of long-term U.S. Treasuries. Multiple factors are exerting pressure on the U.S. Treasury market, including the rapid expansion of AI-related debt, rising inflation volatility, unstable basis trading conditions, and oil prices rebounding back to nearly $100. He stated that it remains uncertain how long private equity and private credit markets can sustain themselves.

10 minutes ago

Smart money takes a triple long position on Micron, with the position valued at $25.2 million.

According to Lookonchain's monitoring, a crypto whale has just opened a 3x leveraged long position on 25,961 units of MU, valued at approximately $25.2 million. The whale had previously completed four MU long trades, all profitable, with a total profit of $2.28 million.

10 minutes ago

Semiconductor stocks were mixed in U.S. pre-market trading, with Intel rising nearly 5% while most storage and optical communication stocks declined.

According to BIT (bit.com) market data, ahead of Friday’s US pre-market trading, semiconductor stocks were mixed: Intel (INTC) rose 4.76%, Arm (ARM) gained 0.96%, and AMD (AMD) increased 0.41%; SK Hynix (SKHY) fell 2.93%, Micron Technology (MU) dropped 2.16%, Marvell Technology (MRVL) decreased 1.41%, and NVIDIA (NVDA) declined 0.72%. The storage sector saw broad declines: SK Hynix (SKHY) fell 2.93%, SanDisk (SNDK) dropped 2.19%, Micron Technology (MU) decreased 2.16%, Western Digital (WDC) declined 1.68%, and Seagate Technology (STX) fell 1.24%. Most optical communication concept stocks retreated: Nokia (NOK) dropped 2.15%, Astera Labs (ALAB) fell 1.99%, Credo (CRDO) decreased 1.86%, Ciena (CIEN) declined 1.14%, and Applied Optoelectronics (AAOI) fell 0.62%.

10 minutes ago

Suspected a16z address has staked 2.785 million HYPE tokens, worth approximately $164 million.

According to Mlm monitoring, a HYPE whale staked 2.785 million HYPE tokens via 20 wallets over the past 11 hours, worth roughly $164 million. The whale had previously accumulated 2.94 million HYPE tokens between September and October last year, currently valued at approximately $172 million, and ranks among HYPE’s largest holders. The whale may be linked to a16z, though this association has not been confirmed.

10 minutes ago

Intel's pre-market trading rose nearly 5% on the back of strong Q2 performance and Q3 guidance that exceeded expectations.

According to market data from BIT (bit.com), Intel (INTC) is up nearly 5% in pre-market trading, as its Q2 results were strong and Q3 guidance exceeded expectations.

10 minutes ago

Jiang Zhuoer: The CLARITY Act has only a 10% to 20% chance of passing, with major disagreements on ethical provisions persisting between the two parties.

Jiang Zhuoer, founder of BTC.TOP, stated in a post that the Clarity Act has only a 10% to 20% chance of passing, with major disagreements persisting solely on its ethics provisions. The proposal agreed by Trump only restricts the president and their spouse from engaging in crypto asset issuance, while Democrats demand including other family members and family entities in the restrictions. The two sides also failed to reach an agreement on law enforcement authority: Trump supports the U.S. Department of Justice (DOJ) being responsible for prosecuting violations, but Democrats argue the Attorney General is appointed by the president and demand granting state attorneys general the right to prosecute as well. Jiang believes that fully accepting the Democrats’ proposed restrictions would leave Trump with little incentive to sign the bill. Apart from the ethics provisions, multiple disagreements also exist in other parts of the legislation. The U.S. Congress will adjourn on August 7, with only around 10 working days remaining, leaving the procedural timeline extremely tight and making it difficult to bridge major divides before adjournment. He added that Congress’s session from September 14 to October 5 falls near the midterm elections, and lawmakers must also handle budget and appropriations agendas, with even a potential government shutdown risk. Democrats also lack the political incentive to push the bill through before the elections.

10 minutes ago

Hackers’ Day | July 23: $35.5M Lost. A Reminder That Security Is a Shared Responsibility

Ethereum Faces a Make-or-Break Test While Activity Hits Record

Ethereum is showing signs of recovery after enduring nearly six months of intense selling pressure, according to recent on-chain data. Despite significant losses for many holders, the current market situation could potentially set the stage for a new bullish phase.

Six months of capitulationSwissblock, a blockchain analytics provider, reported that Ethereum’s supply in loss has dominated since late January, with the majority of tokens held at a loss rather than at a profit. The “Supply in Profit/Loss” model shows that this drawn-out period of capitulation has resulted in about 45.7 million ETH being underwater compared to 31.6 million ETH held at a gain.

A brief recovery between April and May did shift some of the supply back toward breakeven, but sellers quickly took control again, sparking another wave of unrealized losses across the network. Analysts note that the extended pressure is reflected in the average breakeven price, which has increased to $1,880. Market observers point out that such periods, where most investors are at a loss, often precede major market bottoms.

During the recent recovery, Ethereum’s average breakeven price rose to $1,880, marking a key shift after months of losses and indicating growing buyer support at these levels.

Mini dictionary: Swissblock is an analytics firm specializing in providing blockchain and cryptocurrency market data, including on-chain indicators and supply analytics for major assets like Ethereum and Bitcoin.

Technical resistance levels in focusEthereum’s price staged a strong comeback from its June low, rebounding from near $1,500 and reclaiming both the 26-day and 50-day moving averages. As of the latest data, ETH is trading close to $1,890, supported by these shorter-term trend indicators. This suggests that buyers have regained some control over the market’s intermediate trend.

However, Ethereum faces a significant technical barrier near $1,935, where the declining 100-day exponential moving average (EMA) has blocked several prior rally attempts. A decisive close above this level could not only reinforce the bullish trend but also refocus market attention on the psychological $2,000 mark.

Moving AverageStatusPrice Level26-day MASupport$1,89050-day MASupport$1,890100-day EMAResistance$1,935Investor sentiment and accumulationPositive momentum remains despite recent price consolidation. The relative strength index (RSI) currently ranges between 58 and 60, signaling steady buying demand without entering overbought conditions. Market watchers suggest that this leaves room for continued gains if broader conditions remain supportive.

Historically, extended periods in which most Ethereum holders are at a loss tend to lead to increased accumulation, as longer-term investors acquire more ETH at reduced prices. Meanwhile, short-term or weaker holders often exit the market. Data indicates this accumulation phase may be resuming as the network recovers from its prolonged slump.

Long-term investors appear to be absorbing available supply, while those unable to withstand recent losses are leaving the market.

If Ethereum successfully breaks above the $1,935 resistance and more of the circulating supply returns to profit, the prolonged period of capitulation could ultimately mark the onset of a significant upward move. However, the process is ongoing, and the full effects of the prior downturn have yet to fully dissipate.

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.

Bitcoin maintained stability near $65,400 during Friday’s Asian trading, even as U.S. technology companies faced their steepest collective loss in months. Despite a sharp sell-off in the stock market, the largest cryptocurrency moved less than 1% lower, signaling a rare moment of divergence from the equity rout.

U.S. tech stocks see dramatic lossesThe Magnificent Seven, referring to the group of leading U.S. megacap technology stocks that have driven much of Wall Street’s performance since 2022, lost approximately $797 billion in market value on Thursday. This plunge, reported by Bloomberg, marked their worst single-day loss since April 2025. The S&P 500 fell 1.2%, while the Nasdaq 100 declined by 1.9%. The tech group now sits 11% below its peak from late May, erasing nearly $2 trillion in value.

The Magnificent Seven dropped 4.8% on Thursday, their most severe session since the tariff-driven selloff of April 2025, highlighting the market’s heightened sensitivity to aggressive spending in AI infrastructure.

AI spending triggers market fearsA major driver behind the tech-sector selloff has been concern over capital expenditures on artificial intelligence. Alphabet, the parent company of Google, raised its annual spending target to as much as $205 billion. Meanwhile, Elon Musk, chief executive of Tesla, described 2026 as “a massive capex year” after the company posted profits well below analysts’ expectations.

Investors have grown uneasy with the rapid pace at which technology companies are investing in AI infrastructure, fearing that profit growth may not keep up with such high outlays. This anxiety had been closely linked to performance in both technology stocks and Bitcoin over the past month: the cryptocurrency has tended to rise alongside chip stocks and fall when those shares weaken, moving as a proxy for the broader AI investment cycle.

Mini dictionary: The Magnificent Seven, a term widely used in financial media, refers to the group of the largest and most influential U.S. technology companies, typically including Apple, Microsoft, Alphabet, Amazon, Nvidia, Tesla, and Meta Platforms (formerly Facebook).

Cryptocurrencies remain steady amid equity sell-offWhile the equities market experienced sharp losses, Bitcoin limited its decline to less than 1% for the day, staying within the $65,000 range, and was up 3% across the week. Ether retreated 3% to $1,879. Other leading cryptocurrencies also recorded losses, but their moves were notably small compared with the tech sector’s decline.

Dogecoin registered the steepest drop among the major cryptocurrencies, down 5% to $0.069 for the day and 4% over the week. XRP slipped 2% to $1.11, Solana lost 3% to $76, and Hyperliquid‘s HYPE token dropped to $58, falling 4% across seven days. Despite red numbers, the cryptocurrency market’s losses were mild relative to the technology sector.

AssetDaily ChangeWeekly ChangeCurrent PriceBitcoin-1%+3%$65,400Ether-3%—$1,879Dogecoin-5%-4%$0.069XRP-2%—$1.11Solana-3%—$76HYPE—-4%$58Potential decoupling from AI tradeThe synchronized movement between cryptocurrency prices and technology equities has been one of the defining market features in recent months. Bitcoin, in particular, often responded to swings in semiconductor and AI-related stocks. Some analysts cautioned that the trend might be changing after Bitcoin showed notable independence during the most recent rout in U.S. tech shares.

Whether this signals a longer-term decoupling between Bitcoin and the AI-driven tech cycle remains uncertain, but the divergence seen in the latest session is an important indicator for market watchers.

Bitcoin miners have increasingly diversified into operating AI data centers. Should major technology companies begin to scale back AI spending, the effects would eventually be felt in the cryptocurrency mining sector, though the lag may be longer than during market rallies.

Recent crypto market developmentsMarket composition has shifted since June, with Binance, the world’s largest crypto exchange by trading volume, retaining around 55% of user funds and 24% of spot market activity. The exchange drew net inflows in early July, contrary to outflows seen elsewhere.

Among other recent developments: the Clarity Act, addressing crypto regulation, may miss legislative approval before Congress’ summer break; Robinhood CEO Vlad Tenev’s X account was compromised in a token promotion scheme; and BlackRock, Coinbase, and Strategy formed a group pledging $15 million for Bitcoin’s quantum security efforts.

Crypto markets have paused for breath, with industry observers watching for signs of further divergence from traditional tech stock trajectories as July progresses.

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.

Dogecoin Price fell to $0.0690 after losing 4.75% during the latest 24-hour trading period. The fall was due to more general market deleveraging and the U.S.-Iran war crisis. The total crypto market value declined by 0.96% to reach $2.22 trillion as liquidations compounded the broader macro-sell off. 

Bitcoin price hovered near mid $65,000 and Ethereum price fall to the 1,880 level after undoing previous weekly gains. XRP and Dogecoin also faltered, with the investors lessening their exposure to riskier digital assets. DOGE is currently in testing of support levels last observed in late 2024. 

The token also remains close to its lowest trading range of 2025. Traders are monitoring whether new spot ETF inflows can help in promoting a rebound. Nevertheless, poor sentiment, mixed expectations of the Federal Reserve, and poor technical conditions are still constraining the short-term recovery. Long-term purchasing is required before the momentum can be determined.

Dogecoin ETFs Record First Inflows Since June 17 as DOGE Funds Recover Spot Dogecoin ETFs reported net inflows of $345,130 on July 21, the first day of inflows since June 17.

The inflow followed more than one month of flat activity and one outflow session on July 2. However, SoSoValue data showed daily net inflows returned to zero by July 23.

Source: SoSoValue data The cumulative net inflows were 12.12 million and the cumulative net assets were 9.88 million. The assets constituted approximately 0.09% of the market capitalization of Dogecoin.

This was a cumulative trading worth of 265,040 in the last reported session. The GDOG of Grayscale was the leader with cumulative inflows of $11.30 million and assets of $6.78 million.

TDOG managed by 21Shares was introduced to inflows and asset respectively with 2.19 million and 2.65 million. BWOW of Bitwise noted a cumulative outflow of 1.38 million and assets of some 453,880. The three funds all closed negative and had a daily loss of between 4.61% and 4.92%.

Dogecoin Price Falls Below $0.070—Is a Rebound Coming Next? At the time of writing, the DOGE price traded at $0.0693 after losing 1% on the four-hour chart. Dogecoin price slipped below the $0.07 support after heavy selling volume pushed prices toward the lower range.

Short-term support is now right around 0.0680, with buyers possibly making another attempt at recovery. The RSI dropped to 34.51 and has weak momentum, and it is tending towards an oversold state. However, the CMF remains positive at $0.08, suggesting some capital continues entering the market. 

Source: Tradingview DOGE price must reclaim $0.070 to improve its short-term outlook and challenge resistance at $0.0720.

A confirmed move above $0.0720 could open targets near $0.0740 and $0.0760 as per the Future Dogecoin outlook. Loss of $0.0680 would undermine the framework and put DOGE at risk of falling to $0.0660.

Cardano (ADA) is trading near a critical support zone as the community spotlights the network’s reliability ahead of its ninth anniversary. The cryptocurrency changed hands at $0.1694 on Wednesday, reflecting a 2.92% loss over the previous 24 hours.

Price action stalls near key EMA levelsCardano’s price has found some stability within the $0.167 to $0.170 range, with buyers stepping in throughout July to prevent deeper declines. Despite the support, ADA remains under its 20, 50, 100, and 200-day exponential moving averages (EMAs), signaling continued pressure from sellers and an overall bearish trend in the near term.

The Relative Strength Index (RSI) stands at 50.73. This neutral reading comes after the indicator recovered from earlier oversold levels, indicating neither bullish nor bearish dominance at present. Cardano needs a close above the 50-day EMA, currently at $0.177, to indicate a potential shift to upward momentum. Conversely, a breakdown below $0.167 could accelerate further declines as sellers assert control.

IndicatorCurrent LevelBullish SignalBearish SignalPrice$0.1694Above $0.177Below $0.167RSI50.73Rises above 55-60Falls below 45Support zone$0.167–$0.170HoldsBreakdownOperating continuously for over eight years, Cardano has never experienced downtime, according to Cardanians (CRDN), a leading voice in the Cardano community. As the blockchain approaches its ninth year, CRDN emphasized the network’s long-standing stability and resilience, noting, “Reliability isn’t the most exciting metric, but it’s one of the most important. Reliability and security always come first.”

Reliability isn’t the most exciting metric, but it’s one of the most important. Strong foundations matter. Reliability and security always come first.

This uninterrupted uptime has reinforced trust among developers, institutional participants, and investors who place a premium on robust infrastructure. While the reliability milestone may not spark an immediate price rally for ADA, it serves to strengthen Cardano’s reputation for long-term operational stability within the competitive blockchain sector.

Mini dictionary: Cardanians (CRDN), an independent Cardano-focused community group known for sharing network developments and analytical insights about Cardano’s ecosystem.

Stable open interest and network activity signal cautious optimismMarket data from CoinGlass shows that open interest on Cardano has held steady in July, indicating traders are not significantly increasing leveraged bets but are instead maintaining existing positions. Meanwhile, DeFiLlama reports a recent uptick in active addresses, reflecting consistent network usage even as the token trades sideways.

If buyers can reclaim the $0.177 resistance area, short-term bullish sentiment could return and potentially push ADA higher. Until such a development materializes, analysts expect the price to remain stuck in its current range as participants await a technical breakout or major catalyst.

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.

Charles Hoskinson, the founder of Cardano, believes the network methodical development strategy (criticized by many for taking ages) is beginning to gain recognition as the industry battles ongoing attacks and exploits.

In a recent interview, Hoskinson compared Cardano’s development trajectory to Anthropic’s path in the evolution of the artificial intelligence industry. He outlined that the firm is currently the leader of the pack despite entering the market later than existing powerhouses like Google and OpenAI.

Instead of chasing speed, he said that Anthropic is successful because it adopted a disciplined philosophy regarding its development practices from the get-go. He believes Cardano is now experiencing a very similar shift in perception. This comes as developers and investors are increasingly prioritizing security and governance over “speed to market.”

“Google initially had the big lead and then OpenAI had the big lead and then somehow this Anthropic thing came out and they were able to leapfrog everybody. […] They hadn’t fundamentally changed, they just had the right mindset,” Hoskinson said in the interview with CoinDesk.

He also added that the same principle could eventually benefit Cardano:

“People are starting to wake up, especially in the age of AI hacking, where everything is getting broken, where speed to market is not the most desirable way.”

.@IOHK_Charles compares Cardano’s strategy to Anthropic’s rise.

Google had the lead. Then OpenAI. Then Anthropic leapfrogged both, not by moving faster, but by building differently.

Hoskinson says the same lesson could apply to crypto in the latest episode of Markets Outlook… pic.twitter.com/h36GiShZYV

— CoinDesk (@CoinDesk) July 23, 2026

You may also like: Cardano’s NIGHT Hits All-Time Low After 290M Token Dump Charles Hoskinson Says Ethereum Is Adopting Cardano Ideas Without Credit Charles Hoskinson Reveals What Happened to 1,096 BTC From Cardano’s Early Days Security Incidents Strengthen Cardano’s Case Hoskinson specifically referenced the most recent Kelp DAO exploit and the knock-on effects it had on Aave as examples of the risks, which are associated with prioritizing innovation over resilience.

In April, Kelp DAO suffered a massive exploit where $292 million was drained after attackers were able to forge cross-chain messages and withdraw unbacked rsETH through a misconfigured LayerZero bridge.

While Aave’s smart contracts were in no way compromised, the attacker deposited the fraudulent rsETH as collateral to borrow real assets. This essentially left the lending protocol with significant exposure to bad debt and triggered billions of dollars in TVL outflows before the team implemented recovery measures.

For Hoskinson, this particular episode demonstrated how vulnerabilities in one protocol can rapidly spread through the broader DeFi ecosystem and cause massive outflows and reputational damage:

“The recent AAVE thing and Kelp thing shows you how quickly you can lose your TVL (total value locked) and how uqickly you can lose your customer base. So, it works until it doesnt, and when it doesn’t, it’s catastrophic for the ecosystem.”

He argued that for stability to be lasting, this requires more than technically sound code:

“People want stability and it only comes from having a clear governance system, a clear software development system, and really goo dideas on how to develop a roadmap in a sustainable way.”

ADA’s Longstanding Underperformance Hoskinson’s comments also come after a long time of built-up criticism from parts of the crypto community about how Cardano has prioritized academic research (arguably one of the protocol’s standout differentiators) at the expense of ecosystem growth.

Cardano remains one of the largest protocols by market capitalization. At the time of this writing, it’s at $6.2 billion, ranking as the 20th largest project in the industry – but that’s a far cry from where it used to stand, let alone from where proponents were hoping it would be. ADA is one of the worst performers of the past year, down 80% in the past 365 days. Ethereum, the smart contract platform Hoskinson often compares Cardano to, including in this interview, is down 48% in contrast. Bitcoin, the industry’s benchmark, is down 44%.

Source: CoinGecko Hoskinson acknowledged that their decision-making hasn’t been flawless.

“It took us a long time to get here. A lot of mistakes were made, and I own the lion’s share of them as the leader.”

Nevertheless, he expressed confidence that the network is now positioned much better than in previous market cycles.

“Ultimately, I’m very happy with where wi sit, and I think we will grow very strongly over the next 12 to 24 months.”

Of course, it remains to be seen whether that prediction will come to fruition, but his broader argument also reflects an ongoing debate across industry proponents about whether the next phase of crypto adoption will come from protocols that come strong and move fast or those that prioritize security, governance, and long-term sustainability. Or perhaps both are not mutually exclusive?

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