Circle's euro stablecoin $EURC logged its highest daily active addresses and new wallet creation since its launch four years ago, according to Santiment data. On July 9, daily active wallets reached 1,760, a milestone that underscores accelerating demand for regulated euro-denominated digital assets.
MiCA Clears the Field for EURCThe timing of the spike is no coincidence. The EU's Markets in Crypto-Assets (MiCA) regulation transition period ended on July 1, 2026, requiring all crypto firms serving EU clients to be licensed. That deadline reshaped the competitive landscape sharply. Tether chose not to apply, with CEO Paolo Ardoino calling MiCA's reserve rules "dangerous," leading major exchanges including Coinbase, Binance, and Kraken to delist USDT for European users. With the market's dominant stablecoin removed from regulated European venues, liquidity has had to go somewhere.
EURC, issued by Circle, held the highest average market capitalisation among MiCA-compliant euro stablecoins at $430.4 million across the past year and led in average weekly trading volume at $34.0 million. Circle's EURC has emerged as the dominant euro stablecoin, holding approximately 41% of total euro stablecoin market capitalisation, up from 17% market share over the past 12 months.
Compliance as a Competitive AdvantageThe primary driver behind the surge in EURC activity is the enforcement of MiCA's stablecoin provisions, which require issuers to hold specific reserves and obtain licenses to operate within the EU. Circle was among the first global firms to secure an Electronic Money Institution (EMI) license, making EURC the first major MiCA-compliant stablecoin.
The leading euro stablecoin for crypto capital markets, EURC is MiCA-compliant, redeemable 1:1 for euro, and accessible globally on Avalanche, Base, Ethereum, Solana, and Stellar. That multi-chain presence matters: several high-profile centralised exchanges have started restricting non-compliant stablecoins for European users, naturally funnelling liquidity into EURC.
Total market capitalisation of MiCA-compliant euro stablecoins rose 128%, climbing from $295.6 million to $673.9 million across the 52 weeks to June 28, 2026. The broader trend points to Europe consolidating its stablecoin market around a small group of fully licensed tokens, with EURC currently leading that pack by a wide margin.
Sources:
Cryptonomist: MiCA Euro Stablecoins Surge Post Transitional Period
Circle: EURC Official Page
Utila: Euro Stablecoin Landscape Report 2026
Key Highlights On July 9, ARK Invest acquired 217,896 shares of Circle Internet Group valued at approximately $13.7M The firm simultaneously offloaded 85,319 Robinhood Markets shares valued at roughly $9.8M Total Circle investments by ARK have exceeded $37M within approximately two months of 2026 Circle stock has plummeted 68% year-over-year while Robinhood has climbed more than 21% Analyst consensus places Circle’s price target at $131.76, suggesting potential 109% gains Cathie Wood’s investment firm ARK Invest acquired 217,896 shares in Circle Internet Group during trading on July 9, allocating approximately $13.7 million to the purchase. During the same session, the investment manager divested 85,319 Robinhood Markets shares, generating around $9.8 million in proceeds.
Shares of Circle concluded the trading day at $63.01, representing a 1.65% decline. ARK’s decision to accumulate shares during weakness aligns with the firm’s established strategy of adding positions in companies it maintains long-term conviction in.
Circle Internet Group, CRCL
Robinhood finished the session at $115.11, posting a 1.39% gain. By divesting during an upswing, ARK captured profits and freed up capital for alternative investments.
Sustained Accumulation Strategy in Circle This transaction represents part of a broader pattern. Earlier in July, specifically on July 1, ARK allocated approximately $18 million to Circle shares. Previously in May, an additional $5.5 million acquisition followed the company’s quarterly earnings disclosure.
When aggregated with the most recent transaction, ARK has channeled more than $37 million into Circle within roughly eight weeks. This represents an unusually concentrated buying campaign, even considering ARK’s characteristically bold positioning.
Circle operates as the entity behind USDC, a prominent stablecoin with substantial adoption throughout cryptocurrency markets. The company completed its public listing in 2025, with shares initially soaring nearly 300% above their initial offering price before experiencing a significant correction.
Trading at $63.01, Circle remains considerably below its post-listing peaks. Such declines often create attractive entry opportunities for growth-oriented investment vehicles like those managed by ARK.
Circle’s income generation is substantially dependent on interest yields from USDC reserve holdings. Declining interest rate environments would compress this revenue source. Additionally, the company confronts competitive pressure from Tether, whose USDT commands a dominant position in the worldwide stablecoin marketplace.
Analyst Sentiment and Legislative Context Wood has maintained support for Circle since its market debut, and her enthusiasm for cryptocurrency-related equities corresponds with her advocacy for the CLARITY Act. This proposed legislation aims to establish clearer boundaries determining when digital assets qualify as commodities versus securities, while extending the Commodity Futures Trading Commission’s regulatory authority.
The bill failed to advance through the Senate by its July 4 deadline and currently faces an ambiguous legislative trajectory.
Nevertheless, Wall Street maintains predominantly optimistic views on Circle. Among the 25 analysts tracking the stock, 13 have assigned buy-equivalent or stronger ratings. The consensus 12-month price projection of $131.76 indicates potential appreciation exceeding 109% from present valuations.
Robinhood’s forecast appears comparatively restrained. The mean analyst target of $112.32 suggests approximately 2.4% downside from current trading levels, indicating many analysts believe the stock has fully absorbed its recent momentum.
Robinhood has appreciated more than 21% during the trailing twelve months. Circle has depreciated 68% across the identical timeframe.
Corporate insiders at both Circle and Robinhood have executed share sales in recent months, contrasting with ARK’s ongoing Circle accumulation campaign.
Circle (NYSE: CRCL) stock dropped by 1.65% on July 9, to close trading at $63. The drop mirrored the downturn seen with other crypto stocks like MSTR and COIN that also closed lower on July 9 after the broader crypto market dropped.
But that drop moved ARK Invest to buy the dip, with the fund manager arguing that Circle’s USDC stablecoin will retain its share in the stablecoin market despite the launch of the OUSD stablecoin on June 30.
ARK Invest Buys the CRCL Dip, Reiterates Bullish Outlook Data from the Ark Invest tracker shows that ARK Invest purchased $13.7 million worth of CRCL shares on July 9. The firm purchased 159,404 of these shares through its ARKK ETF, while 40,685 and 18,807 CRCL stock were purchased through the ARKW and ARKF ETFs, respectively.
This purchase comes barely two weeks after ARK Invest purchased another $17.8 million worth of CRCL shares on July 1.
The fund manager is making these buys despite a previous warning by Jefferies, saying that people might abandon Circle’s USDC for the OUSD stablecoin that claimed to have partnered with 140 institutions when it launched on June 30.
However, ARK Invest analyst Lorenzo Valente has dismissed this warning, saying that OUSD might not replace USDC because firms like Binance will not overhaul their entire operations and go for a new stablecoin.
“OUSD is not insignificant… But the market has overestimated the speed at which the shared profit model can break existing liquidity barriers,” the analyst said.
While CRCL stock did not rally after ARK Invest’s $13 million purchase or analyst Valente’s bullish thesis, technical analysis suggests that bulls still have a good grip.
CRCL Stock Price Defends Key Support Level as Bullish Momentum Fades CRCL stock price has touched the support of $61 three times since June 30. But each time the price dropped to this support, it bounced back up, suggesting that this is where buyers are entering the market.
If this crypto stock closes above this support of $61 for three straight days, the price could gain and reach the resistance of $84.
The AO bars that are negative but green suggest that bears are losing control. These AO bars support that the CRCL stock price could move from $61 to the June 22 high of $84.
However, the RSI reading of 34 suggests that the momentum is still bearish. This RSI reading needs to move above 50 to confirm that CRCL stock could move to $84.
CRCL Stock Price But if this bullish thesis fails and CRCL stock price closes below the support of $61, it might drop to the February low of $50.
CLARITY Act Nears Crucial Deadline A previous report by CoinGape stated that the final draft for the CLARITY Act could be released before August 7, when the US Congress breaks for the summer recess.
This final draft could remove regulations around stablecoin yield after banks fought back, saying that allowing Coinbase and Circle to pay out yields on stablecoins would reduce the deposits made with banks.
Besides CLARITY, financial regulators in the US will release GENIUS Act rules on July 18 that will guide stablecoin issuers like Circle on how they will issue and manage stablecoins.
Cathie Wood's ARK Invest executed a notable portfolio shift on July 9, acquiring 217,896 shares of Circle Internet Group ($CRCL) at a cost of roughly $13.7 million, while simultaneously offloading 85,319 shares of Robinhood Markets ($HOOD) worth approximately $9.8 million.
Circle's stock closed at $63.01 on the day of the trade, down 1.65%, while Robinhood finished the session at $115.11, up 1.39%. In effect, ARK was selling into $HOOD strength and buying $CRCL weakness, a move consistent with the firm's long-standing approach of accumulating positions in high-conviction names during periods of price softness.
A Sustained Bet on CircleThe July 9 purchase was not a one-off. When combined with the most recent acquisition, ARK has committed more than $37 million to Circle within roughly eight weeks. Wood has backed the stablecoin issuer since its debut, purchasing shares on its launch day.
Circle serves as the primary issuer of USDC, a leading stablecoin in the cryptocurrency ecosystem. Following its 2025 public market debut, the company's shares surged nearly 300% from their initial offering price before experiencing a significant correction, and the stock remains substantially below those peak valuations at $63.01.
The decision to sell $HOOD comes even as the brokerage has gained more than 21% in the past year, far outperforming $CRCL's 68% decline. Robinhood is on track for a fourth consecutive year of gains, even as Circle ended last year in the red and appears set to do the same this year. Despite that underperformance, ARK continues to add to its $CRCL position.
Why ARK Keeps Buying the DipARK's decision to purchase during the downturn aligns with the firm's established strategy of accumulating positions in companies it views as long-term opportunities during periods of weakness. The investment firm also actively adjusts its ETF holdings so that no single stock exceeds 10% of a fund's portfolio, meaning ARK rebalances weightings when the value of certain assets fluctuates significantly.
Circle's business model relies significantly on interest income generated from USDC reserve holdings, meaning declining interest rates would directly impact this revenue stream, a key risk to monitor as the Federal Reserve's rate path remains uncertain.
Sources:
MoneyCheck: ARK Invest Pours $13.7M Into Circle (CRCL) While Dumping Robinhood (HOOD) Stock
Stocktwits: Cathie Wood's ARK Is Buying CRCL Stock's Slump While Selling HOOD's Gains
The Block: Ark Invest buys more Coinbase, Circle, Bullish, Robinhood shares amid stock declines
TLDR On July 9, 2026, ARK Invest purchased 34,080 Meta Platforms shares valued at $20.55 million The strategic acquisition precedes Meta’s anticipated Q2 earnings announcement scheduled for July 29 ARK divested 10,774 AMD shares worth $5.57 million, marking another consecutive week of position reduction The firm added 217,896 Circle Internet Group shares spanning three ETFs, totaling $13.96 million Analysts maintain a Strong Buy consensus on Meta with an average target price of $817.15 Cathie Wood’s investment management firm, ARK Invest, executed several significant portfolio adjustments on Thursday, July 9, 2026. The most substantial transaction involved a $20.55 million stake increase in Meta Platforms through the ARK Innovation ETF.
Meta Platforms, Inc., META
The purchase encompassed 34,080 Meta shares, positioning ARK ahead of the social media giant’s upcoming second-quarter financial results disclosure on July 29.
Analyst projections suggest Meta will deliver earnings of $7.17 per share alongside revenue totaling $60.19 billion for the reporting period.
Meta’s Artificial Intelligence Initiatives Drive ARK’s Interest The investment decision follows a series of significant artificial intelligence developments from Meta. The tech giant introduced Muse Spark 1.1, marking its entry into paid AI model offerings, and rolled out innovative AI-powered business tools.
Meta has also announced that Iris, its proprietary AI semiconductor, will enter large-scale production this September. Additionally, the company revealed plans for a substantial capital commitment exceeding $13 billion toward constructing a cutting-edge data center facility in Alberta, Canada.
According to TipRanks, Meta receives a Strong Buy consensus recommendation derived from 34 Buy ratings alongside five Hold ratings. The consensus price target of $817.15 suggests potential upside of approximately 29.4% from present trading levels. Year-to-date, Meta shares have declined 4.2%.
ARK Reduces Semiconductor and Tech Exposure Concurrently, ARK liquidated 10,774 Advanced Micro Devices shares through its ARKK ETF, representing $5.57 million in value. This transaction extends a recent pattern of AMD position reduction spanning multiple trading sessions.
The investment firm also divested 85,319 Robinhood Markets shares valued at $9.69 million and offloaded 70,154 Roku shares worth $9.77 million.
ARK further reduced its Twist Bioscience holdings by selling 98,776 shares, generating proceeds of $8.83 million.
Beyond the Meta acquisition, ARK expanded its Circle Internet Group exposure by purchasing 217,896 shares distributed across its ARKK, ARKW, and ARKF ETFs, representing a combined investment of $13.96 million.
Additional accumulation included 105,364 Ionis Pharmaceuticals shares for $8.9 million and 544,385 Prime Medicine shares totaling $2.52 million.
Minor acquisitions encompassed 57,462 Generate Biomedicines shares valued at $911,921 and 46,302 Compass Pathways shares worth $646,838.
Following disclosure of ARK’s purchase activity, Meta stock advanced 6.58% on July 10.
The analysis found that between 2023 and 2026, Hyperliquid’s Bitcoin perpetuals produced an average annualized financing premium of 7.17% above Binance, while Ether perpetuals displayed a premium of 5.31%. The report looks at how funding rates, which maintain perpetual swaps in line with underlying spot prices, may differ dramatically amongst contracts that are otherwise comparable. In its Q2 2026 Derivatives Report, which was issued today, BitMEX identified three structural factors that contribute to financing rate discrepancies in perpetual futures markets and highlighted trading possibilities that result from variations in exchange demography, margin design, and oracle mechanisms.
The report looks at how funding rates, which maintain perpetual swaps in line with underlying spot prices, may differ dramatically amongst contracts that are otherwise comparable. These variations are often caused by market structure rather than short-term emotion, according to BitMEX’s report, giving traders repeated opportunities.
“Funding rates are often viewed as a simple indicator of market sentiment, but the reality is more nuanced,” said Peter Wilkinson, CEO at BitMEX. “Our research shows that structural factors such as collateral type, exchange participant profiles, and index construction can create persistent funding rate differences that traders may be able to identify and exploit strategically.”
BitMEX discovered that Bitcoin perpetual contracts with various forms of collateral may result in funding rate environments that range significantly, which is one of the report’s main conclusions. The financing gap between BitMEX’s bitcoin-margined XBTUSD contract and its USDT-margined XBTUSDT contract, according to historical data, averaged around 3.93% annualized over the previous three and a half years, remained negative in 94% of rolling 90-day periods.
The research also examined variations in financing rates across exchanges. The study found that between 2023 and 2026, Hyperliquid’s Bitcoin perpetuals produced an average annualized financing premium of 7.17% above Binance, while Ether perpetuals displayed a premium of 5.31%. The operational obstacles that restrict institutional arbitrage activity on decentralized venues and variations in trading demographics are mostly responsible for the discrepancy, according to BitMEX.
The expanding market for tokenized commodities perpetuals was a third area of interest. As futures-based indices rolled between contracts during times of market stress, financing rates on crude oil (WTI) perpetual contracts reached very high levels. According to the report, during a futures roll in April 2026, BitMEX’s WTIUSDT funding rate momentarily dropped to about -531% annualized. This shows how a venue’s index construction for more recent digital asset types, such as WTI, can affect funding rate behavior independently of overall market sentiment.
Cross-margin funding arbitrage, cross-exchange funding spreads, and possibilities related to futures-roll mechanics in commodities perpetuals are among the possible tactics identified by the research as a result of these structural insights. In order to differentiate between long-term structural possibilities and shorter-term event-driven dislocations, it suggests that traders should concentrate on determining the fundamental cause of funding rate disparities before trying to capitalize it.
You can see the whole BitMEX Q2 2026 Derivatives Report, “Three Sources of Funding-Rate Alpha,” at the BitMEX Blog.
The OG cryptocurrency derivatives exchange, BitMEX, offers experienced traders a platform that meets their demands with minimal latency, deep cryptocurrency native, particularly BTC liquidity, and unparalleled dependability.
A crypto enthusiast. Loves to write. Gives full dedication to every task assigned. Specializes in delivering on tight deadlines. An animal lover, especially dogs.
Key Highlights Bitcoin surged 3.5% to approach $64,000, closing the week with a 4.2% gain Major altcoins including Ether, XRP, Dogecoin, and Solana saw positive Friday sessions The Nasdaq outperformed with a 1.3% increase, while the S&P 500 advanced 0.8% Memory chip manufacturers like Micron and Sandisk dominated S&P 500 gains Dollar depreciation combined with robust AI semiconductor demand fuels coordinated crypto and stock market advances The leading cryptocurrency bounced back toward the $64,000 threshold on Friday, shaking off mid-week declines triggered by escalating geopolitical concerns. This resurgence coincided with substantial rallies across Asian trading floors and continued weakness in the U.S. dollar.
Bitcoin (BTC) Price Digital gold experienced a 3.5% upward movement after temporarily sliding to approximately $61,850 in response to President Trump’s statements regarding potential expanded military operations against Iran. Trading volume reached $28 billion over a 24-hour period. Bitcoin concluded the trading week with a cumulative 4.2% increase.
Ether advanced 2.6% to reach $1,760, recording a weekly gain of 4%. XRP climbed 2.2% while TRON emerged as the week’s strongest performer among major cryptocurrencies with a 4.7% seven-day increase. Dogecoin posted a 2.6% daily gain but remained marginally negative for the week. Solana stood as the lone major token unable to secure weekly profits, rising 2.6% on Friday while maintaining a 2.1% weekly deficit.
Market observers highlighted leveraged trading as a critical element behind the rapid price recovery. Traders liquidated positions following geopolitical headlines, then quickly re-entered the market within hours.
“When liquidation cascades begin influencing price movements, markets can accelerate beyond what fundamental demand would support,” explained Shawn Young, chief analyst at MEXC Research.
Semiconductor Sector Powers Wider Market Momentum The cryptocurrency rebound occurred in tandem with robust equity market performance. Across Asia, South Korea’s Kospi index soared 4%, partially fueled by memory chip producer SK Hynix, which successfully priced $26.5 billion in American depositary shares, marking one of this year’s most significant equity offerings.
MSCI’s Asia Pacific stock index advanced 1.4%, narrowing its weekly decline to below 1%. The Japanese yen appreciated 0.6% while Japanese government bond yields contracted following statements from Japan’s Finance Minister advocating for increased domestic asset allocations by pension funds.
American Markets Mirror Technology Sector Strength U.S. equity indexes concluded Thursday’s session in positive territory with technology stocks spearheading the advance. The Nasdaq climbed 1.3%, the S&P 500 rose 0.8%, and the Dow Jones Industrial Average added 129 points, representing a 0.3% gain.
E-Mini S&P 500 Sep 26 (ES=F) Approximately two-thirds of S&P 500 constituents finished higher. Memory chip producers Micron and Sandisk ranked among the session’s top gainers, accompanied by optical technology firms Lumentum and Corning.
The greenback declined for its second consecutive week. Bitcoin market watchers emphasize this development’s significance. Cryptocurrency appreciation this week occurred as dollar valuations decreased, indicating the movement represents partially a foreign exchange dynamic rather than exclusively a crypto phenomenon.
No cryptocurrency-specific catalysts propelled Bitcoin’s weekly performance. Major ETF flows remained absent, no protocol developments emerged, and exchange platforms operated without disruption. Bitcoin weathered oil price volatility, bond market turbulence, and two separate rounds of American military action against Iran, yet still secured weekly gains.
Should dollar weakness persist and artificial intelligence chip demand maintain current levels, market analysts anticipate cryptocurrency markets will continue correlating with semiconductor industry cycles.
Zcash price moved above $500 as buyers responded to confirmation of the Ironwood network upgrade. ZEC gained 7% to $502.30 within 24 hours and extended its weekly rise to 10%. Stronger derivatives activity supported the move. Meanwhile, a breakout above key moving averages reinforced bullish momentum.
Ironwood Upgrade Strengthens Zcash Network Ironwood upgrade will go live on 28 July 2026 with block 3,428,143. Zcash core developer, Sean Bowe, affirmed that the key players in the Zcash ecosystem supported it.
The upgrade is based on the identification of a severe vulnerability in the Orchard shielded pool in May. The vulnerability theoretically would enable counterfeit ZEC tokens to be introduced into the circulation undetected.
LATEST: ⚡ Zcash developers say they’re nearing a mathematical proof that the upcoming Ironwood shielded pool has no hidden counterfeiting bugs. pic.twitter.com/5AmpKYSOEz
— CoinMarketCap (@CoinMarketCap) July 8, 2026
Orchard will be permanently retired by developers, and no further transactions will be allowed to enter the affected pool. It will be substituted with a redesigned shielded pool that has stronger security provisions.
The new design will comprise of formal verification, external security measurements and quantum-resistant note designs. These actions are set to defend the integrity of supply and enhance trust in private dealings.
Crypto Market Recovery Supports ZEC Price The crypto market value soared by 2.25% within 24 hours to approximately 2.2 trillion.
Bitcoin price rose above $64,000 to extend its recovery, which boosted the mood in key digital assets. Ether price also trended towards its 50-day average around $1,800.
A confirmed Ethereum breakout at such a level may aid in futher gains throughout the market. XRP traded around $1.10, having held support at $1.09.
The broader recovery provided ZEC traders with more confidence ahead of the Ironwood activation. Nonetheless, above $500 is significant to sustain the existing bullish formation.
ZEC Open Interest Surges 27.32% to Reach $1.02 Billion Zcash derivatives trading activity increased as traders got more exposure before the Ironwood network upgrade.
The trading volume increased by 49% to $1.98 billion, indicating significant participation in the short-term market.
Open interest Open interest also rose 27% to $1.02 billion with additional positions outstanding in futures markets.
The cumulative rise indicates higher trader interest as the market players track the recent price surge of ZEC.
However, rising leveraged positions could increase volatility as Zcash approaches important resistance levels.
How High Can Zcash Price Go in July 2026? At the time of writing, the ZEC price surged to $509, gaining 7% on the four-hour chart.
Zcash price is also trading within an uptrending channel, which serves to sustain the prevailing bullish price setup.
The chart shows Zcash price reclaiming the $500 resistance zone after several failed attempts earlier this month. A four-hour close above the level of $510 may reinforce the breakout and invite additional buying.
Tradingview The Relative Strength Index is at 69, and ZEC is approaching overbought. Meanwhile, the MACD line remains above its signal line, while the histogram has turned positive.
The upper limit of the channel is close to the level of $525, forming the first short-term goal of the sellers. A decisive break beyond that point would reveal the more formidable area of resistance at $550.
With the momentum solid, the Zcash price would possibly test later against $600 as the next psychological target.
Analysts at Watcher Guru, a US-based cryptocurrency and whale tracking platform, say that due to changing market conditions, it seems unlikely that XRP will repeat its 500% surge.
As is known, XRP experienced one of the most remarkable price increases in the market in 2024. Trading at around $0.50 in July 2024, XRP rose to approximately $2.40 by the end of the year, gaining nearly 500% in value in six months.
This strong performance has generated significant profits for investors, making XRP one of the key altcoins in the market once again.
At that time, Bitcoin also surpassed $100,000 for the first time, boosting the cryptocurrency market in general, including XRP. Analysts at this point noted that this rise in XRP and the market was largely driven by expectations of US President Donald Trump’s re-election and moderate policies supporting cryptocurrencies.
However, analysts argue that current conditions are very different from those supporting the 2024 rally. Global economic uncertainties, geopolitical risks stemming from US-Iran tensions, and a more cautious approach from investors are among the factors limiting optimism in the crypto market.
It is also argued that global capital is now concentrated in the artificial intelligence (AI) sector, which is causing other asset classes, such as cryptocurrencies, to underperform.
In conclusion, analysts argue that while a 500% increase in XRP by the end of 2026 is theoretically possible, the 2024 surge may be behind us due to changing market conditions. They believe that the gloomy market sentiment makes a repeat of the 2024 surge in 2026 highly unlikely.
*This is not investment advice.
Follow our Telegram and Twitter account now for exclusive news, analytics and on-chain data!
Analysts at Watcher Guru, a US-based cryptocurrency and whale tracking platform, say that due to changing market conditions, it seems unlikely that XRP will repeat its 500% surge.
As is known, XRP experienced one of the most remarkable price increases in the market in 2024. Trading at around $0.50 in July 2024, XRP rose to approximately $2.40 by the end of the year, gaining nearly 500% in value in six months.
This strong performance has generated significant profits for investors, making XRP one of the key altcoins in the market once again.
At that time, Bitcoin also surpassed $100,000 for the first time, boosting the cryptocurrency market in general, including XRP. Analysts at this point noted that this rise in XRP and the market was largely driven by expectations of US President Donald Trump’s re-election and moderate policies supporting cryptocurrencies.
However, analysts argue that current conditions are very different from those supporting the 2024 rally. Global economic uncertainties, geopolitical risks stemming from US-Iran tensions, and a more cautious approach from investors are among the factors limiting optimism in the crypto market.
It is also argued that global capital is now concentrated in the artificial intelligence (AI) sector, which is causing other asset classes, such as cryptocurrencies, to underperform.
In conclusion, analysts argue that while a 500% increase in XRP by the end of 2026 is theoretically possible, the 2024 surge may be behind us due to changing market conditions. They believe that the gloomy market sentiment makes a repeat of the 2024 surge in 2026 highly unlikely.
*This is not investment advice.
Follow our Telegram and Twitter account now for exclusive news, analytics and on-chain data!
Key Highlights Meta is set to launch production of its proprietary AI chip, dubbed “Iris,” this September Semiconductor equipment manufacturers Applied Materials, Lam Research, and KLA each climbed more than 4% following the announcement Lumentum dominated S&P 500 gains with a 12% surge Wall Street analysts boosted price targets for Applied Materials and Lam Research in response Industry forecasts predict the wafer fabrication equipment sector will expand from $145 billion in 2025 to $250 billion by 2028 Meta Platforms revealed its intention to commence production of “Iris,” a custom-designed AI processor, beginning in September. The disclosure triggered a substantial rally in semiconductor equipment manufacturers on Thursday.
Applied Materials, Lam Research, and KLA—all major suppliers of wafer fabrication equipment used to transform silicon wafers into functional microchips—experienced gains exceeding 4% during the trading session.
Applied Materials, Inc., AMAT
Lumentum, which specializes in optical networking solutions, jumped 12%, ranking among the day’s top S&P 500 performers. Vertiv Holdings climbed 2.8%.
When contacted by Barron’s regarding the initial Reuters report, Meta representatives declined to provide commentary.
The Chip Equipment Industry’s Growth Opportunity Applied Materials, Lam Research, and KLA serve as critical suppliers to semiconductor manufacturing operations. When major technology firms like Meta opt to develop proprietary chip designs, it generates substantial demand for the specialized equipment these manufacturers provide.
Year-to-date performance for all three companies has been remarkable, with each stock appreciating more than 90%. Market participants have maintained optimistic forecasts regarding sustained demand for chip fabrication equipment.
Citi Research values the current wafer fab equipment market at approximately $145 billion for 2025. Their projections indicate expansion to $200 billion by 2027, ultimately reaching $250 billion in 2028.
According to Citi’s estimates, hyperscale cloud providers—including Meta, Amazon, Microsoft, Alphabet, and Oracle—will increase capital expenditures by 84% this year. This group’s combined spending is anticipated to exceed $1.1 trillion by 2027, representing a significant jump from this year’s $650 billion.
Stifel’s research team noted that “agentic AI has steepened the demand curve for memory and logic chips.” Their forecasts predict wafer fab equipment expenditures will reach $192 billion in 2027 and $225 billion by 2028.
Wall Street’s Take on the Developments Mizuho Securities increased its price target for Lam Research from $380 to $400 and elevated Applied Materials’ target from $540 to $650. Both companies retained their Outperform ratings.
TD Cowen significantly raised its Applied Materials price objective to $700, up from $525.
Morgan Stanley maintained its $404 price target for both Lam Research and KLA, preserving Overweight ratings on each stock.
Stifel boosted its price targets substantially: Applied Materials from $530 to $650, KLA from $191 to $270, and Lam Research from $325 to $425. All three maintain Buy ratings from Stifel.
Morgan Stanley’s Shane Brett indicated expectations for Lam Research to deliver fourth-quarter results that exceed consensus estimates when reported at the end of July, accompanied by upward guidance revisions.
Regarding KLA, Brett expressed optimism about long-term prospects while adopting a more measured stance on near-term performance. He observed that market expectations already incorporate potential earnings outperformance.
Stifel additionally increased price targets on smaller industry participants Ichor Holdings and Cohu, assigning Buy ratings to both.
The semiconductor equipment sector’s next significant event will be Lam Research’s fourth-quarter earnings announcement, scheduled for late July.
FunPlus Phoenix didn’t just win a Valorant match on July 10, 2026. They also moved over $1.5 million through prediction markets on Polymarket alone, turning a routine group stage opener into one of the most-traded esports events in crypto betting history.
The team swept Trace Esports 2-0 in the opening match of VCT 2026: China Stage 2, a result that surprised approximately nobody who’d been paying attention to the head-to-head record between these two squads.
The match and the money behind it FPX entered Group Alpha’s Best of 3 format with a commanding 6-3 historical advantage over Trace Esports. They proceeded to play exactly like a team with a 6-3 historical advantage, dropping zero maps in a clean sweep.
Advertisement
The roster got a notable upgrade heading into the tournament. Colin “coconut” Chung was signed as FPX’s new in-game leader on June 25, 2026, roughly two weeks before the opener.
Prediction markets across multiple platforms, including Polymarket, Coinbase Predictions, Limitless.exchange, and Bitget, facilitated active trading on the match outcome. The volume on Polymarket alone crossed $1.5 million.
Why crypto cares about Valorant matches Multiple major crypto-native platforms are competing to capture esports betting flow. Polymarket, which built its reputation on political prediction markets, has clearly expanded its ambitions. Coinbase Predictions entering the space signals that even the most compliance-forward US exchange sees opportunity here. Bitget’s involvement adds an international dimension, while Limitless.exchange represents the newer, DeFi-native approach.
The gap that still exists For all the activity happening around VCT China Stage 2, none of it is happening inside the event itself. No blockchain integration was identified within the broader tournament infrastructure. No NFT tickets, no on-chain tournament brackets, no token-gated fan experiences.
Riot Games, which operates Valorant and the VCT ecosystem, has shown no meaningful appetite for crypto integration in its tournament operations.
The VCT CN Stage 2 group stage runs through early August 2026, which means several more weeks of matches for prediction markets to trade on. If the $1.5 million figure from a single group stage match holds as a baseline, the cumulative volume across the full tournament could be substantial.
Disclosure: This article was edited by Editorial Team. For more information on how we create and review content, see our Editorial Policy.
TLDR BTC recovered above the $63,000 mark with approximately 1.5% gains following Trump’s statement about Iran seeking negotiations Market participants are closely monitoring $64,700 as a critical daily closing threshold that could trigger a substantial relief rally Short position liquidations in the cryptocurrency market reached approximately $100 million over a 24-hour period Blockchain analytics reveal short-term holder losses matching patterns typically observed near historical cycle bottoms Large-scale holders accumulated 10,000 BTC during the current month, suggesting an accumulation period may be underway Bitcoin pushed back above the $63,000 threshold this Thursday following remarks from US President Donald Trump indicating that Iran is seeking diplomatic engagement. The leading cryptocurrency posted gains of roughly 1.5% during the trading session.
Bitcoin (BTC) Price Equity markets in the United States also experienced an upward swing, providing support to digital asset prices following the previous day’s downturn. Trump had previously announced the termination of the Iran ceasefire on Wednesday, triggering concern among investors in risk-oriented assets.
According to data from CoinGlass, liquidations of cryptocurrency short positions approached $100 million within a 24-hour window. This development caught numerous market participants who had positioned themselves for declining prices off guard.
Market analyst Daan Crypto Trades identified $64,700 as the crucial threshold for observation at the daily market close. “A daily close above $64,700 flips the story and would make for a larger relief rally across the board,” he communicated via X.
$BTC is ranging $61.3K-$64.7K range and spent this morning climbing back up after yesterday's risk-off flush.
A daily close above $64.7K flips the story and would make for a larger relief rally across the board.
A close under $61.3K opens the road to the lows again and kills… pic.twitter.com/QbTVhEMVWa
— Daan Crypto Trades (@DaanCrypto) July 9, 2026
He additionally cautioned that closing beneath $61,300 “opens the road to the lows again and kills the momentum.” Bitcoin has been trading within this defined range.
Trader Killa expressed they are “not bearish at all” regarding the present market structure. They’re targeting $68,000 as a prospective short position entry point and anticipate several additional months of volatile price movement.
Trader Jelle highlighted the $65,000–$70,000 range as the subsequent objective should bullish forces recapture key thresholds. He noted that a rejection at these levels might drive BTC back under $60,000.
Market analyst Ted (@TedPillows) noted unexpected BTC purchasing activity on Binance and suggested that if Bitcoin successfully reclaims $65,000, a recovery rally targeting $72,000–$74,000 might materialize within a three to four-week timeframe.
Blockchain Metrics Indicate Potential Cycle Bottom Formation Analytics from Glassnode demonstrate that short-term holder (STH) realized losses have surged to levels documented only six times throughout Bitcoin’s trading history. In each of those six instances, BTC was positioned near or at a cyclical bottom.
Source: Glassnode The most recent occurrence of this pattern was in January of this year, when Bitcoin reached $60,000 before climbing to $82,000.
Large holder wallets have accumulated 10,000 BTC throughout the current month. The preceding two months similarly recorded positive net additions, which market analysts view as indicators of a probable accumulation phase.
BTC Must Surpass $66,000 to Validate Chart Formation A double-bottom or W-shaped configuration has emerged on the daily timeframe chart. This technical pattern frequently precedes substantial upward price movements.
Bitcoin must secure a close above $66,000 to validate this structure. The Relative Strength Index stays below the 50 level, indicating no bullish confirmation has materialized at this stage.
Market analysts suggest a decline toward $60,000 remains possible before any more significant upward movement develops. Should BTC fall below that threshold, $50,000 is referenced as the subsequent major support level.
If Bitcoin maintains levels above $60,000, a retest of the 200-day exponential moving average positioned near $74,000 represents the scenario analysts are forecasting.
Current price data reflects BTC trading between the $61,300 and $64,700 boundaries, with market participants closely observing the daily close for directional confirmation.
Not financial or tax advice. PANews content is strictly educational and informational and is not investment advice, financial advice, tax advice, legal advice, or a solicitation to buy or sell any digital asset, security, or financial product. Do your own research and consult qualified advisers.
Disclosure. PANews may publish sponsored content, partner content, advertisements, affiliate links, event promotions, and market commentary involving Web3 projects, service providers, or financial products. PANews personnel, contributors, or affiliates may hold digital assets or other interests related to covered topics. See our Terms of Service.
Oklo just went shopping again. The nuclear energy company completed its acquisition of Creative Engineers, Inc. (CEI) on June 30, bringing aboard roughly 20 engineers, fabricators, and welders who specialize in exactly the kind of sodium and alkali-metal systems that Oklo’s Aurora reactor technology depends on.
This is Oklo’s second acquisition in a matter of weeks. Stock reaction was mixed, with some price slips observed around the announcement.
Why sodium experts matter for a nuclear startup Oklo’s Aurora reactor is a compact, modular design that uses liquid sodium as a coolant instead of water. CEI has been doing alkali-metal work for nuclear-related projects for years, and the acquisition brings liquid-metal handling, safety training, and reactor component development capabilities in-house rather than relying on external contractors.
Advertisement
CEI has reportedly been generating positive free cash flow for over five years, which makes this more than a talent acquisition. It’s a profitable business being folded into Oklo’s operations, adding manufacturing capability and applied R&D capacity. The financial terms of the deal remain undisclosed.
The broader Aurora timeline is taking shape On June 18, Oklo announced a letter of intent with Centrus Energy to secure high-assay low-enriched uranium (HALEU) fuel supply for upcoming Aurora units. Initial fuel deliveries are projected for 2029, timed to support what Oklo has described as a 1.2 GW clean energy campus.
The company is targeting its first operational Aurora unit at Idaho National Laboratory by late 2027 or early 2028.
What this means for investors watching the nuclear-AI energy nexus Oklo’s chairman is Sam Altman, the CEO of OpenAI. The company has been positioned at the intersection of nuclear energy and AI infrastructure.
Oklo hasn’t generated meaningful revenue yet, and its first reactor is still at least 18 months from operation. Nuclear regulatory approval processes are famously unpredictable, and the HALEU fuel supply chain remains nascent. Investors should watch regulatory milestones over the next 12 months, the progression of the Centrus Energy fuel supply arrangement toward binding commitments, and whether Oklo announces additional acquisitions ahead of the 2027-2028 launch window.
Disclosure: This article was edited by Editorial Team. For more information on how we create and review content, see our Editorial Policy.
The Shiba Inu ecosystem could soon reach a new milestone after several months of discretion around some of its most anticipated projects. Recent exchanges within the community revive speculation about the return of Shiba Eternity and the metaverse associated with the SHIB universe. Without an official schedule, several clues nonetheless show that the teams continue their work behind the scenes. These statements come as developers reaffirm their desire to refocus their efforts on sustainable products for the coming years.
In brief Shiba Inu is preparing the return of Shiba Eternity and its metaverse after several months of pause. Mazrael states that the two projects are currently benefiting from numerous updates behind the scenes. The Web3 version of Shiba Eternity continues its development after a closed beta phase on Shibarium. The metaverse will be accessible via Shib.io, replacing the old now abandoned domains. Developers want to focus their efforts on sustainable projects to revive the ecosystem in 2026. The recent drop of SHIB continues to fuel the community’s questions about the ecosystem’s outlook. At the same time, discussions have resumed after an intervention by Mazrael, a long-standing member of the SHIB community, during an exchange on X. Asked about the current state of Shiba Eternity, he indicated that the game’s development was ongoing despite a temporary pause. As an advisor to the project, he also hinted that several major updates were already in preparation, suggesting that the teams are actively continuing their work before a future relaunch.
Meh, in an environment where lesser doggos would shutdown their L2, we temporary paused SE along with the metaverse can refer to blog.shib.io or magazine.shib.io lots in progress. Oh, and actually both MV and SE have much updates ready for their relaunch. There still a bunch you can do on SHIBarium and you can use Shib.io building blocks to make moar 2!
Mazrael, a veteran of the Shiba Inu community. Source: X / @Mazrael_shib Mazrael also mentioned the Shiba Inu metaverse, specifying that it too would benefit from many updates before its relaunch. He summarized the situation by saying that “many things are underway,” without revealing more details. However, no schedule accompanies this announcement. Despite this absence of date, the message shows that the two projects remain at the heart of the ecosystem’s roadmap.
Shiba Eternity was launched in October 2022 as a free collectible card game on mobile. After this first version, developers began designing a paid Web3 edition integrated into Shibarium. This evolution was intended to offer a Play-to-Earn model. A closed beta phase took place between the third and fourth quarters of 2024 to test this new version.
Technical Developments Set the Stage for the Return of Both Projects Even though teams remain discreet about their schedule, several elements show that preparations are progressing. Mazrael indicated that the metaverse would no longer go through an independent domain upon its return. Instead, users would access the experience directly via the Shib.io website. This change comes after the closure of the old domains previously used by the ecosystem.
This centralization could simplify access to the various services developed around Shiba Inu. It also reflects a desire to unify products under a single platform. The shared information remains limited, but it confirms that technical developments have not stopped. Upcoming announcements should thus specify the features planned for the new versions.
Meanwhile, Shiba Eternity also continues its evolution towards an environment more integrated with Shibarium. The trials carried out during the Web3 beta show that the project continues to develop despite the pause observed in recent months. Mazrael’s statements therefore reinforce the idea that the teams prefer comprehensive preparation before announcing an availability date.
A Roadmap Refocused on Sustainable Projects At the end of 2025, Kaal Dhairya, a Shiba Inu developer, had already presented the major orientations planned for 2026 in a letter addressed to the community. He explained that “some projects, systems, or processes could be suspended or abandoned when they did not generate revenue or reach their economic balance.” This approach aimed to focus resources on the most solid initiatives.
Despite this perspective, Kaal Dhairya wanted to reassure community members. According to him, the vision carried by Shiba Inu had not disappeared. He simply believed that “the ecosystem was going through a more difficult period before a new development phase.” The stated goal was now to repair existing foundations, strengthen team focus, and build solutions capable of lasting over time.
Mazrael’s latest statements fit into this same logic. They show that the flagship projects continue to move forward even if their communication remains limited. The coming months should reveal more about the relaunch schedule of Shiba Eternity and the metaverse. If this strategy is confirmed, Shibarium could gradually re-prioritize projects considered essential. Upcoming official communications will help measure the concrete progress of this new development phase.
Maximize your Cointribune experience with our "Read to Earn" program! For every article you read, earn points and access exclusive rewards. Sign up now and start earning benefits.
Join the program
A
A
Lien copié
Ghiles A.
Journaliste et rédacteur web passionné par l’univers des cryptomonnaies et des technologies Web3. J’y traite les dernières tendances et actualités afin de proposer un contenu de haute qualité à un large public du secteur.
DISCLAIMER
The views, thoughts, and opinions expressed in this article belong solely to the author, and should not be taken as investment advice. Do your own research before taking any investment decisions.
TLDR Midnight Foundation reopened the Glacier Drop redemption portal after completing a security review linked to the SecondFi incident. The Foundation confirmed its infrastructure remained secure and unaffected by the breach involving 16 million ADA. NIGHT token redemptions resumed on June 9, with all thawed tokens now available for eligible users. The Glacier Drop distribution schedule remains unchanged despite the temporary suspension of the portal. The program continues in its third phase, with the final redemption window set to end in December 2026. The Midnight Foundation has reopened its Glacier Drop redemption portal for Cardano users after completing a security review. The decision follows a temporary suspension linked to a security incident affecting certain wallets connected to SecondFi. Midnight Foundation confirmed that redemptions resumed without any impact on its infrastructure or user allocations.
Security Review Confirms Platform Integrity The Midnight Foundation halted NIGHT token redemptions after reports of a breach involving SecondFi-linked wallets. Hackers stole approximately 16 million ADA from hundreds of affected wallets during the incident. As a result, the Midnight Foundation temporarily closed the redemption portal to assess potential exposure.
The investigation focused on whether the exploit extended to Glacier Drop systems or participant accounts. However, the Midnight Foundation found no evidence that its infrastructure was compromised during the breach. The review confirmed that the redemption platform remained isolated from the affected systems.
Following these findings, the Midnight Foundation restored access to the portal and resumed all redemption operations. The organization stated that all eligible users can now claim tokens that completed thawing during the suspension period. This ensured continuity for participants without altering the program’s operational structure.
Glacier Drop Timeline Continues Without Changes The Midnight Foundation maintained the original Glacier Drop schedule despite the temporary pause in redemptions. The program distributes NIGHT tokens through a phased mechanism across four separate quarterly windows. Each phase unlocks 25% of allocated tokens as part of a structured release model.
The first redemption phase ran between December 10, 2025, and March 9, 2026, under the established framework. The second phase followed from March 10 through June 7, 2026, with participants accessing newly thawed tokens. The Midnight Foundation confirmed that these earlier phases proceeded without disruption before the incident.
The program has now entered its third phase, which started on June 8 and continues until September 5, 2026. A fourth and final redemption window will run from September 6 to December 4, 2026. The Midnight Foundation emphasized that all timelines remain unchanged despite the earlier suspension.
Guidance Issued for SecondFi-Affected Users The Midnight Foundation advised users connected to SecondFi wallets to follow official recovery guidance issued by that platform. This recommendation applies only to users potentially affected by the breach and not to Glacier Drop participants broadly. The Midnight Foundation clarified that its own systems did not require user-side remediation.
SecondFi introduced a phased response plan to address the security incident and support affected users. The process begins with a Quarantine Mode designed to secure compromised accounts and prevent further exposure. This step aims to stabilize impacted wallets before additional recovery actions proceed.
Your Options for Securing Assets, and What’s Next
We recognize that some users may not have completed all steps in the Hardware Wallet Guidance posted in our knowledge base. If you are not technically proficient, we recommend waiting for the secure wallet export functionality,…
— SecondFi (@secondfiapp) July 8, 2026
The response plan will include a secure wallet export process scheduled for the following week. A final recovery phase may follow, depending on investigation outcomes and asset retrieval efforts. Meanwhile, the Midnight Foundation confirmed that its portal remains fully operational for eligible users.
The reopening of the Glacier Drop portal marks the resumption of normal operations after the review. Midnight Foundation confirmed that its infrastructure remained secure and unaffected throughout the incident. Eligible users can now redeem thawed NIGHT tokens according to the established schedule.
Internet sensation Moo Deng is set to celebrate her second birthday this week, with her home zoo gearing up for a three-day festival.
The pygmy hippopotamus, whose chaotic antics and perpetually startled expression have propelled her to global superstardom, turns two on Friday.
To mark the milestone, the Khao Kheow Open Zoo in Thailand’s Chonburi province, east of Bangkok, announced the “Moo Deng Happy Deng Day” festival from 10 to 12 July.
On her birthday, the celebrity calf will see visitors join a mass sing-along around her enclosure and eat a specially crafted, hippo-friendly birthday cake made of her favourite vegetables.
Her first birthday was also celebrated with a days-long festival attended by throngs of adoring fans. The highlights included a birthday cake sponsored by a skincare entrepreneur at a cost of almost £2,100, mascot parades, and a photo exhibition, titled “Moo Deng in Every Moment”, chronicling her journey from a 5kg newborn to a 93kg toddler, according to The Nation.
Moo Deng eats a cake with her mother Jonah during her first birthday celebration at the Khao Kheow Open Zoo in 2025 (Getty)This year, organisers are preparing for thousands of fans to descend on the park. They are offering free admission throughout the three-day festival for children aged 12 and under as well as to senior citizens over 60.
The festival will feature daily wildlife mascot parades, game booths, and a dedicated station where fans can write birthday cards to the toddler hippo.
Visitors will also get a rare chance to meet Moo Deng’s keepers for behind-the-scenes insights into her daily routine.
For dedicated collectors, the zoo is releasing a highly exclusive "Moo Deng Tail Print" souvenir. Limited to just 999 pieces worldwide, the collectible is priced at around £43, with the proceeds going towards wildlife conservation. Local vendors will set up stalls showcasing regional Thai food and handicrafts.
Zoo director Narongwit Chodchoi said that the festival would also launch "Hippo Village", a major modernisation project for the habitat.
The initiative aims to significantly improve animal welfare and expand conservation education, ensuring the global spotlight on Moo Deng leaves a lasting legacy for her species.
Children pose for pictures with a giant Moo Deng during a celebration of her first birthday at the Khao Kheow Open Zoo (Getty)Moo Deng – meaning "bouncy pork" in Thai – was born on 10 July 2024 and quickly rose to stardom after her keeper, Atthapon Nundee, began sharing her antics online. The videos went viral, prompting the zoo to livestream her enclosure and capitalise on her fame with corporate sponsorship deals and merchandise.
In the final quarter of 2024 alone, Khao Kheow Open Zoo saw visitor numbers triple to 600,000.
Moo Deng appeared in a Saturday Night Live sketch and correctly predicted Donald Trump’s 2024 US presidential win by choosing between two vegetable cakes. Google honoured her with a doodle, and a Thai music label released a viral techno anthem bearing her name.
Her popularity has begun to dip in recent months, however, mirroring the short-lived fame of other internet-famous animals like China’s Hua Hua the panda and Australia’s Pesto the penguin. Still, Mr Nundee insists Moo Deng enjoys the attention.
The pygmy hippopotamus is an endangered species, native to West Africa, with fewer than 2,500 left in the wild according to the International Union for Conservation of Nature.
Hyperliquid Policy Center and Phantom have urged the U.S. Commodity Futures Trading Commission to update its rulebook for onchain trading, arguing that existing regulations built for traditional financial markets do not fit decentralized infrastructure.
Summary
Hyperliquid Policy Center and Phantom have asked the CFTC to create rules tailored for onchain trading instead of applying legacy market regulations. The groups said developers of decentralized trading software and non custodial wallet providers should not face the same registration requirements as traditional intermediaries. The proposal comes as U.S. regulators review derivatives rules and CME continues its legal challenge over the CFTC’s treatment of crypto perpetual futures. According to a joint comment letter submitted on Thursday by the Hyperliquid Policy Center (HPC) and Phantom, the current regulatory framework assumes a market structure where brokers, exchanges and clearinghouses control customer funds throughout the trading process. The organizations said onchain markets operate differently because users retain control of their own assets.
The submission responds to a joint Request for Information (RFI) issued last month by the CFTC and the Securities and Exchange Commission, which invited public feedback on regulations that may be slowing financial innovation and making it harder for new technologies to work with CFTC-regulated firms. As previously reported by crypto.news, the agencies are also reviewing whether existing definitions for swaps and related derivatives remain suitable for newer financial products.
HPC and Phantom seek tailored rules for decentralized markets In their filing, HPC and Phantom argued that developers of onchain trading software should not automatically be required to register as exchanges or clearinghouses simply because they build decentralized infrastructure. They also said non-custodial wallet interfaces such as Phantom should not be treated as introducing brokers.
The organizations argued that blockchain-based software cannot be regulated in the same way as centralized intermediaries because, unlike traditional market operators, code cannot enter contracts, respond to regulators or exercise legal responsibilities.
Alongside those proposals, the letter said companies already registered with the CFTC should be allowed to use blockchain technology for trading and clearing without facing unnecessary regulatory barriers.
The recommendations arrive as U.S. regulators continue examining how decentralized finance fits within existing derivatives rules. CFTC Chair Michael Selig previously said the agency’s joint review with the SEC could help resolve longstanding uncertainties under the Dodd-Frank Act, while SEC Chair Paul Atkins has called for clearer definitions covering newer financial products.
Filing comes as CME challenges crypto perpetual futures The proposal also lands while the CFTC faces legal action from CME Group over its approval of regulated crypto perpetual futures.
As previously reported by crypto.news, CME sued the regulator in June after it approved perpetual futures products from platforms including Kalshi and opened a regulated path for similar offerings. The exchange argues that perpetual contracts should be classified as swaps rather than futures under the Dodd-Frank framework and claims the regulator bypassed the legal process required for swap products.
The dispute gained additional attention after Kalshi expanded beyond Bitcoin perpetuals to list contracts linked to Ethereum, XRP and Hyperliquid, while Coinbase also secured a regulated route to offer certain crypto perpetual futures through infrastructure connected to Deribit.
HPC founder Jake Chervinsky has publicly opposed CME’s lawsuit, describing it as a serious mistake and accusing the exchange of trying to block new competitors. One day after CME filed its case, the CFTC and SEC published their joint request for public comment, which specifically asked whether the legal definition of swaps should be updated to account for emerging products such as crypto perpetual contracts.
A New Chain Moves FastRobinhood Chain (@RobinhoodCrypto) recorded $375.15 million in decentralized exchange volume over a single 24-hour window, outpacing Hyperliquid (@HyperliquidX), which posted $198.87 million over the same period, according to DeFiLlama data.
The milestone is notable given how recently the network came online. Robinhood launched the public mainnet for Robinhood Chain on July 1, 2026, positioning it as a Layer-2 blockchain built on Arbitrum and designed for tokenized real-world assets and decentralized finance. The chain went live with several established DeFi protocols already integrated, including Uniswap as its primary liquidity venue, Chainlink for price oracles, and Morpho for lending.
The volume surge follows an even larger spike on July 8, when the chain briefly recorded between $560 million and $570 million in daily DEX volume, driven largely by a memecoin called Cash Cat. That token alone accounted for roughly $98 million in trading activity on Uniswap pairs on the chain, according to Crypto Briefing. Daily active addresses approached 200,000 on that date, with more than 140,000 of those being first-time users of the network.
Context: What Robinhood Chain Is Up AgainstHyperliquid has been one of the dominant forces in on-chain trading, particularly in perpetual futures. The platform carries a total value locked of around $1.4 billion and a native token, $HYPE, with a market cap exceeding $15 billion, per DeFiLlama. Its 7-day DEX spot volume still stands at $1.6 billion, well ahead of Robinhood Chain's $512 million over the same window, suggesting the gap in sustained activity remains wide even as the 24-hour comparison favors the newer chain.
Robinhood Chain's infrastructure is built to support more than memecoin trading. The network integrates Stock Tokens, which are on-chain instruments providing economic exposure to publicly traded equities such as Apple, NVIDIA, and Google, available through Robinhood Wallet in more than 120 countries. The company has also launched Robinhood Earn, a decentralized lending product offering an estimated 7% annual yield on its USDG stablecoin through Morpho.
Whether the current volume levels reflect durable demand or early speculative enthusiasm remains an open question. The chain is still in its first two weeks of mainnet operation and is currently waiving gas fees on core activities including swaps, bridging, and perpetual futures trading for the first 90 days.
Robinhood Chain surpassed Hyperliquid in 24-hour decentralized exchange trading volume on July 8, a striking early milestone for the newly launched Ethereum Layer 2 as speculative activity rushed into one of the newest networks backed by a major U.S. brokerage.
According to DeFiLlama data cited by market reports, Robinhood Chain recorded roughly $560 million to $570 million in daily DEX volume on July 8, exceeding Hyperliquid’s 24-hour figure and briefly placing the chain among the most active DeFi trading venues by volume. DeFiLlama’s live dashboard later showed Robinhood Chain with more than $400 million in 24-hour DEX volume, reflecting the fast-moving nature of the metric.
The surge came about a week after Robinhood launched the public mainnet of Robinhood Chain, an Ethereum-compatible Layer 2 built using Arbitrum’s technology stack. Robinhood describes the network as a permissionless blockchain built for financial services and real-world assets, with tokenized stocks, 24/7 trading, self-custody and DeFi composability as central parts of its strategy.
The main driver of the volume spike was not tokenized equities, but memecoin speculation. Reports pointed to Cash Cat, a WETH-paired memecoin trading on Uniswap, as the largest catalyst. The token reportedly generated close to $100 million in 24-hour trading volume and briefly reached a market capitalization above $100 million, drawing liquidity and arbitrage activity to the new chain.
Memecoin Frenzy Drives Early Adoption Robinhood Chain’s rapid rise shows how quickly DeFi activity can migrate when a new network combines strong brand recognition, major infrastructure partners and speculative incentives. Uniswap is already live on the chain, giving traders a familiar venue for token swaps and creating an immediate liquidity layer for new assets.
The volume surge also highlights a recurring pattern in crypto market structure. New chains often gain early traction not through institutional use cases or carefully designed financial products, but through volatile retail assets that attract high turnover. Memecoins can generate large trading volume quickly because they are easy to launch, simple to understand and heavily driven by social momentum.
That dynamic creates both opportunity and risk for Robinhood. High DEX volume gives the chain visibility and can attract builders, liquidity providers and market makers. But if activity is dominated by thinly traded speculative tokens, it may not translate into durable adoption for Robinhood’s core thesis around tokenized real-world assets and onchain finance.
The comparison with Hyperliquid is also important. Hyperliquid has become one of DeFi’s most successful trading venues, particularly in perpetual futures, with deep liquidity, high-frequency trading activity and a dedicated user base. Robinhood Chain surpassing it on a 24-hour DEX volume metric is notable, but it does not yet mean Robinhood has matched Hyperliquid’s sustained liquidity, derivatives infrastructure or trader retention.
Robinhood Pushes Deeper Into Onchain Finance The milestone comes as Robinhood accelerates its broader crypto strategy. The company has been expanding tokenized stock access for international users, building onchain infrastructure and positioning crypto as a core part of its global financial-services roadmap. Its official launch announcement said Robinhood Chain is intended to provide a turnkey environment for builders and is natively connected to Robinhood’s onchain users.
For Robinhood, the strategic opportunity is to convert its mainstream brokerage brand into blockchain-native distribution. Unlike most new Layer 2 networks, Robinhood already has a large retail user base, regulated financial-services infrastructure and a recognized consumer brand. If it can connect those advantages with DeFi liquidity, tokenized assets and self-custody products, it could become a meaningful competitor in onchain markets.
Regulatory and reputational risks remain. Tokenized stocks, memecoin trading and open DeFi activity all sit in areas that can attract scrutiny, especially when linked to a brokerage known to retail investors. Robinhood will need to manage the gap between permissionless blockchain activity and the consumer-protection expectations attached to its brand.
For now, the July 8 volume spike is best viewed as an early market signal rather than proof of long-term dominance. Robinhood Chain has shown that it can attract significant trading activity almost immediately after launch. The harder test will be whether that activity persists once the memecoin cycle cools and whether the chain can shift volume toward tokenized assets, lending, stablecoins and other financial applications with more durable demand.
Robinhood Chain’s brief lead over Hyperliquid shows that the boundary between retail brokerage and decentralized trading is narrowing. The next phase will determine whether that convergence produces sustainable onchain finance or simply another short-lived liquidity boom.
In a joint comment letter, the wallet maker Phantom and the Hyperliquid Policy Center argue that writing onchain protocol software isn’t running a brokerage, and press the CFTC to keep developers and non-custodial wallets off its registration rolls.
Posted July 9, 2026 at 7:12 pm EST.
Two crypto firms have jointly asked the US Commodity Futures Trading Commission to declare that writing decentralized-finance software is not the same as running a brokerage, and to keep onchain protocol developers and non-custodial wallets — apps that never hold users’ funds or control their keys — off the agency’s registration rolls.
The wallet maker Phantom and the Hyperliquid Policy Center, an advocacy group tied to the Hyperliquid blockchain, set out the request in a joint comment letter dated July 9. It responds to a CFTC request for information on rules that may “unduly impede” fintech firms, which the agency issued under an executive order on financial-technology innovation.
The core of the argument is that software is not a market participant. The CFTC’s registration categories — for exchanges, clearinghouses, brokers and dealers — turn on functions performed by a person or entity, the letter notes, and “Software running on a public blockchain—even if it facilitates derivatives trading—is none of those things.” Such code, the firms wrote in the letter, has “no legal personality, no capacity to enter into contracts, and no ability to respond to regulatory inquiries.” Accordingly, the two argued, “onchain protocol software developers should not need to register as DCMs, SEFs, DCOs, FCMs, IBs, or SDs” — the CFTC’s acronyms for designated contract markets, swap execution facilities, derivatives clearing organizations, futures commission merchants, introducing brokers and swap dealers.
Instead, “registration requirements should apply to persons or entities actually handling customer orders or funds or entering into transactions with customers,” they wrote in the letter. The letter likens the point to traditional markets, where developers build matching engines and other trading infrastructure that registered firms deploy without the developers themselves being regulated as the exchange.
The firms asked the CFTC to take three steps: confirm that developing onchain protocol software alone triggers no registration; issue guidance letting the commission’s own registered markets use onchain infrastructure to run execution, clearing and settlement; and turn a March 2026 no-action letter granted to Phantom — which spared the non-custodial wallet from registering as an introducing broker — into a formal rule for similarly situated firms. The letter was signed by Phantom general counsel Kevin Jacobs and Hyperliquid Policy Center policy counsel Brad Bourque.
The stakes reach beyond the two firms. How the CFTC answers would help settle whether US-based DeFi protocols and wallets get treated as regulated intermediaries, and whether Americans can reach onchain derivatives markets onshore — Phantom notes its Hyperliquid integration is not available to US users today. The filing is a comment in a broader review, not a rule, and the agency has not said how it will respond.
Related Listen: DEX in the City: Why the Market Structure Bill May Not Be Good for DeFi
AI-assisted content: This article was produced with the assistance of AI tools and was reviewed, edited, and fact-checked by a member of the Unchained editorial team before publication.
Robinhood Chain overtook Hyperliquid in 24-hour decentralized exchange (DEX) volume, processing more than $560 million over the past 24 hours.
Robinhood Chain is a permissionless, AI-native Layer 2 blockchain built for financial services and real-world assets (RWA), but it’s in the buzz for meme coins, including Cash Cat. CASHCAT price has skyrocketed by almost 60%.
Robinhood Chain Overtakes Hyperliquid in 24-hour DEX Volume According to DefiLlama data, Robinhood Chain recorded almost $433 million in 24-hour DEX volume. The newly launched Ethereum Layer-2 blockchain has now flipped popular Hyperliquid.
Robinhood Chain has climbed to fifth place based on the DEX volume by Chain metric, with almost $900 million in 7-day DEX volume. Meanwhile, Hyperliquid saw $296 million in 24-hour DEX volume, with $656.28 in total DEX volume in the past 7 days.
Robinhood Chain 24-hour DEX Volume. Source: Defillama The milestone comes just one week after Robinhood Chain’s mainnet launch on the Arbitrum Orbit stack. In its debut week, the Layer-2 chain amassed nearly $1 billion in cumulative DEX volume, around $100 million in TVL, and more than 350,000 addresses.
Moreover, Token Terminal data also shows ETH bridged from Ethereum L1 to Robinhood Chain is up 70x in one week, passing $70 million. The chain uses ETH as gas.
Catalysts Behind the Massive Demand Santiment reported that Robinhood Chain is buzzing amid RWA tokenization, DeFi tools, and CASHCAT mania. “Bulls see a TradFi-to-DeFi bridge, while skeptics question stock-token rights and lasting demand,” it added.
Robinhood Social Volume. Source: Santiment The primary catalyst behind the surge is hype by CEO Vlad Tenev. He took to X, saying “While we’re building robinhood chain to be the best chain for RWA … it works great for memes too.”
He also declared “Robinhood Summer is here” as the chain acts as a bridge between retail brokerage and on-chain trading. Robinhood also covers gas fees for eligible users via its Wallet until September 29.
As traditional brokerages increasingly eye blockchain integration, investors interested in equity-backed tokens can review the best exchanges for tokenized stocks to trade fractionalized shares on-chain.
Cash Cat (CASHCAT) price rocketed more than 1000% in just the last 3 days amid the hype. The meme coin named after Robinhood’s early days mascot jumped nearly 60% in past 24 hours, currently trading at $0.1455.
Lookonchain reporting a wallet (0x6f5b) named “Ansem-2” spent $233K to buy 2.79 million CASHCAT was another catalyst. The wallet is linked to the Solana wallet CLM6E4, which held 10.5 million ANSEM, sparked speculation of ANSEM buying CASHCAT.
Hyperliquid and Solana-based wallet Phantom have urged the U.S derivatives market regulator, Commodity Futures Trading Commission [CFTC], to modernize its regulations.
Source: HPC In a letter sent to the CFTC, the DeFi players requested three things. First, the agency should not treat a non-custodial software developer (users control funds, not the platform) as a broker.
In other words, creating on-chain protocols should not automatically trigger CFTC registration as an exchange or clearinghouse. Put plainly, they want developer protections.
Second, the no-action relief granted to self-custodial wallets, as issued to Phantom in March 2026, should be made formal guidance.
An industry coalition made a similar argument and pushed in April. If adopted, non-custodial DeFi front-ends like Phantom would not need broker-dealer or exchange registration to handle even U.S tokenized stocks.
Finally, they want the CFTC to create a framework that allows regulated entities to use blockchain for trading and settlement.
Why are DeFi firms seeking exemptions? The letter was a response to the CFTC’s request for information regarding issues that are preventing fintechs from partnering with its regulated entities.
Some of the issues raised by Hyperliquid and Phantom are DeFi exemptions, some of which are being deliberated in the CLARITY Act. In fact, even the SEC is exploring a similar “innovation exemption” for tokenized assets trading.
The DeFi players cautioned that failure to explore these recommendations would reinforce the status quo, with dire consequences.
The alternative is the status quo: American users continue to be walled off from onchain derivatives markets, innovation continues to take place offshore, and U.S. registrants continue to be denied the ability to modernize their infrastructure.
Why DeFi exemptions request could be delayed But these requests, even if granted, could trigger legal challenges from traditional market participants. The Chicago Mercantile Exchange (CME) has already sued the CFTC over its approval of Kalshi’s crypto perpetuals (perps).
CME argued that perps are swaps rather than futures, meaning the contracts should fall under its regulatory framework. That stance prompted the CFTC to reconsider how it defines swaps.
Hyperliquid Policy Center founder Jake Chervinsky called the CME lawsuit anti-competitive and a “shocking misjudgement.”
Citadel Securities and the umbrella body representing traditional exchanges have also opposed DeFi exemptions, particularly for tokenized asset trading. They argue regulators should treat every platform as a broker based on its function, not its underlying technology.
In short, DeFi platforms handling U.S. tokenized stocks should meet the same disclosure requirements and legal obligations as traditional exchanges.
Like CME, other traditional market participants could sue the agency if it grants the requested DeFi exemptions, particularly because lawmakers have not codified them and the CLARITY Act’s future remains uncertain.
Final Summary Hyperliquid and Phantom have requested CFTC for formalized exemptions for DeFi front-ends But with the CLARITY Act still in limbo, CME and other traditional players will continue to legally challenge the regulator over such requests.
US-listed Bitcoin mining company TeraWulf is reportedly seeking to raise $3.5 billion in debt to expand its Justified Data campus in Kentucky, a facility leased by artificial intelligence company Anthropic under a long-term agreement.
The deal is expected to launch this year, with investment bank Morgan Stanley leading the financing effort, TeraWulf chief financial officer Patrick Fleury said, according to a Thursday Bloomberg report.
The deal could include leveraged loans and high-yield bonds, marking TeraWulf’s first entry into the leveraged loan market, the report stated.
The news comes days after TeraWulf signed a 20-year lease agreement with Anthropic for the Kentucky facility, showing how demand for AI computing capacity is creating new funding opportunities for data center operators.
TeraWulf’s previous financing activity includes multibillion-dollar offeringsThe Justified Data campus in Hawesville, Kentucky, is being developed as a large-scale data center project to support AI computing workloads, with initial operations expected in the second half of 2027 and full buildout targeted for early 2028.
The facility is expected to generate about $19 billion in contracted revenue over the initial lease term with Anthropic, according to TeraWulf.
Source: TeraWulf
The $3.5 billion debt raise follows the company’s previous financing offerings, where it raised $1.3 billion in December 2025 and $3.2 billion in October 2025.
Cointelegraph reached out to TeraWulf and Morgan Stanley for comment on the reported financing but had not received a response by publication time.
TeraWulf faces concerns over insider transactions and growth modelTeraWulf has recently drawn investor questions over insider stock sales, shareholder alignment and broader concerns over the company’s growth model.
On Thursday, Bitcoin mining advisory company Blocksbridge Consulting highlighted TeraWulf as an example of the investor scrutiny around insider stock sales at Bitcoin mining companies that have benefited from AI-related momentum.
TeraWulf has also faced questions over the economics of its AI data center model. In a McNallie Money podcast on Tuesday, Fleury pushed back against a short-seller’s model that estimated higher maintenance costs for TeraWulf’s data centers. He argued that the company’s role is to provide power and facility infrastructure, while customers are responsible for their computing equipment and technology upgrades.
Source: Matthew Sigel
Fleury said the company’s long-term lease structure limits the recurring upgrades and reconfiguration costs typically associated with data centers.
Magazine: Bitcoin’s quantum dilemma: Bigger blocks or STARK proofs?
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.
Meta gained over 4% in pre-market trading, extending its rally from the prior session.
According to market data from BIT (bit.com), Meta's pre-market stock gains have widened, with the stock now rising over 4% after closing up 4.7% in the previous trading session.
4 minutes ago
Founder of crypto trading platform RG Coins indicted again by the U.S. Department of Justice for transferring case-related crypto assets while in prison.
The U.S. Department of Justice announced that Rossen Iossifov, founder of Bulgarian crypto exchange RG Coins, has been indicted on additional charges for allegedly transferring approximately $290,000 in crypto assets that the court had ordered forfeited while he was in prison. Prosecutors alleged that in January 2024, while serving a sentence in a federal prison, Iossifov conspired to move the illicit assets through multiple crypto exchanges and mixing services to evade government seizure. Iossifov was previously sentenced to 111 months in prison in 2021 for his role in laundering nearly $5 million and assisting a Romanian cyber fraud ring in processing illicit funds; he was also ordered to pay over $2.6 million in restitution and forfeit related crypto assets. If the new charges are upheld, he faces up to an additional 25 years in prison.
4 minutes ago
Circle rises over 16% in pre-market trading after securing approval to establish a national trust bank.
According to market data from BIT (bit.com), Circle (CRCL)’s pre-market gain has widened to 16.63%, with its current price at $73.49. Earlier reports noted that Circle has obtained final approval from the U.S. Office of the Comptroller of the Currency (OCC) to establish a national trust bank.
4 minutes ago
Bitcoin mining company Cango will implement a 1-for-10 share consolidation.
Cango Inc. (NYSE: CANG), a Bitcoin mining company listed on the New York Stock Exchange, announced that its board of directors has approved a 1-for-10 share consolidation in accordance with authorization from its special general meeting of shareholders held on June 24. All issued and outstanding Class A and Class B common shares will be consolidated at a ratio of 10-for-1, with each share class remaining unchanged. The consolidation will take effect at 5:00 PM ET on July 20, 2026. Class A common shares are expected to begin trading on a post-consolidation basis starting from the opening of the New York Stock Exchange on July 21, with the stock code remaining “CANG” and the CUSIP number updated to G1820C 110. Following the consolidation, the total authorized share capital will remain at $100,000, consisting of 100 million common shares with a par value of $0.001 per share. No fractional shares will be issued; fractional portions will be canceled and revert to the company’s authorized unissued shares, with no consideration provided to holders.
4 minutes ago
Israel is willing to participate in strikes against Iran and is awaiting a statement from Trump.
Israel has informed the U.S. of its willingness to join further American military operations against Iran, and is currently awaiting a decision from U.S. President Donald Trump. Sources said Israel believes the new round of U.S.-Iran military conflict could last several more days. The Israeli Air Force, air defense, and intelligence units are on high alert, with the Israel Defense Forces (IDF) maintaining close coordination with the U.S. military. (CCTV)
4 minutes ago
BlackRock transfers approximately 8,700 ETH to Coinbase Prime, valued at around $15.81 million.
According to monitoring by Onchain Lens, BlackRock transferred approximately 8,700 ETH from its wallet linked to its Ethereum spot ETF to Coinbase Prime, valued at roughly $15.81 million based on current prices.
Not financial or tax advice. PANews content is strictly educational and informational and is not investment advice, financial advice, tax advice, legal advice, or a solicitation to buy or sell any digital asset, security, or financial product. Do your own research and consult qualified advisers.
Disclosure. PANews may publish sponsored content, partner content, advertisements, affiliate links, event promotions, and market commentary involving Web3 projects, service providers, or financial products. PANews personnel, contributors, or affiliates may hold digital assets or other interests related to covered topics. See our Terms of Service.
New Hampshire’s Executive Council voted 3-2 to reject a proposed $100 million Bitcoin-backed municipal bond, preventing what would have been the first state-authorized issuance of its kind.
The decision comes despite the bond receiving a provisional Ba2 credit rating from Moody’s earlier this year.
Advertisement
The decision came months after the state’s Business Finance Authority (BFA) approved the groundbreaking bond structure, which aimed to bring Bitcoin-backed financing to the municipal bond market.
The proposed financing, developed by Wave Digital Assets in partnership with Rosemawr Management and the BFA, would have seen the BFA issue taxable municipal bonds backed by $175 million in Bitcoin collateral provided by CleanSpark, with BitGo Trust acting as custodian.
If Bitcoin’s value dropped below $140 million, the collateral would have been liquidated to ensure bondholders were repaid in full, without exposing taxpayers to losses.
Council members said the proposal failed to demonstrate meaningful benefits for New Hampshire and raised concerns about lending state legitimacy to a transaction tied to a highly volatile asset class.
Meanwhile, backers argued that the decision was a missed opportunity and urged officials to revisit the proposal.
“It was an extremely short-sighted decision,” New Hampshire House Majority Floor Leader Keith Ammon, who has long championed crypto initiatives in the state, said in a post on X. “They should gather all relevant facts and information and reconsider their vote at a future meeting.”
Disclosure: This article was edited by Editorial Team. For more information on how we create and review content, see our Editorial Policy.
Bitcoin may be entering the later stages of the ongoing bear market and forming a long-term market bottom.
Specifically, the recent drop to around $57,000 this month could become this cycle’s equivalent of the $16,000–$18,000 low seen in late 2022. While on-chain data suggests the bottoming process is progressing, key confirmation signals have yet to appear.
Why $58K Could Mark This Cycle’s Bottom Market watcher Seth has said there are growing signs that Bitcoin’s high-timeframe (HTF) macro bottom is already in place. “There are signs that the HTF macro bottom is in. $58K is the new $18K,” he wrote on X.
Seth noted that he correctly identified Bitcoin’s $16,000 bottom during the 2022 bear market. He said he would not be surprised if Bitcoin had once again established its cycle low.
After bottoming in 2022, Bitcoin climbed steadily. It reached about $73,650 in March 2024 before rallying to an all-time high of $126,200 in October 2025.
Glassnode chart Bitcoin Rebounds From July Low Notably, Bitcoin fell to $57,747 on July 1, its lowest level yet in this cycle. It then rebounded to around $64,600 by July 5.
As of today, Bitcoin trades at $63,872, up about 4% over the past week. However, it remains down 27% year-to-date and is still about 49.4% below its October 2025 record high. That suggests the recovery is still incomplete.
Glassnode: Bottom Is Forming, but Confirmation Is Still Lacking In a recent study, Glassnode said Bitcoin is still in “deep value” territory after trading below both the True Market Mean and the Short-Term Holder Cost Basis for nearly five months.
The analytics firm said long-term holder (LTH) selling has intensified. Losses now account for 43% of total realized value, with realized losses reaching about $280 million per day, the highest level since December 2022.
Glassnode’s chart also shows that more than 5.5 million BTC held by long-term investors is currently at a loss. Similar levels were seen near major market bottoms in previous bear markets, before Bitcoin started recovering.
However, demand remains weak. Spot Bitcoin ETFs are still seeing net outflows, while daily trading volume of $650 million to $950 million is about 80% below the October 2025 peak.
At the same time, derivatives markets have become slightly more optimistic. The put/call ratio has fallen to its lowest level of 2026, although options traders are still pricing in downside risk.
In sum, Glassnode said Bitcoin may be in the final stages of forming a market bottom. However, it added that long-term holder selling needs to ease before a lasting recovery can be confirmed.
DisClamier: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basic opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.
Bitcoin (BTC) reclaims $64,000 on Friday, extending a modest recovery while holding firmly above the key technical support zone so far this week. Mixed spot Exchange Traded Funds (ETFs) flows through Thursday reflect cautious institutional positioning. Meanwhile, traders have digested headlines about Strategy’s recent Bitcoin sale, highlighting the Crypto King’s resilience and deep liquidity. Easing US-Iran tensions improved risk sentiment toward the end of the week, while the fragile situation continues to weigh on market sentiment, capping BTC’s upside potential.
Mixed geopolitical sentiment offers limited relief to risk assetsMarket sentiment remained mixed and cautious throughout the week as geopolitical developments in the Middle East continued to shape risk appetite. The week began on a negative note after Iran plans to introduce new service fees for ships passing through the strategically important waterway. Despite strong opposition from the US, Iran insisted that the fees are for security, vessel supervision, and environmental protection, rather than tolls.
Risk sentiment deteriorated further on Tuesday after an oil tanker was struck by an unidentified projectile, but later identified as Iranian, while passing through the Strait of Hormuz. US military unleashed a new wave of strikes against Iran in retaliation for Tehran’s attacks on commercial ships in the strategic waterway.
Iran retaliated by targeting US military installations and assets across Bahrain and Kuwait. Meanwhile, US President Donald Trump said on Wednesday that the ceasefire agreement with Iran was “over”, further fueling market uncertainty.
Market anxiety eased later in the week after Trump claimed on Thursday that Iran had called to make a deal with the US, raising hopes for a potential de-escalation in tensions. This modest improvement in sentiment erased BTC’s earlier-in-the-week losses as it extended its recovery toward $64,000 on Friday. However, traders should keep an eye on developments in the Middle East, as the fragile situation continues to pose a risk to market sentiment. Any renewed clashes between the US and Iran over the weekend could bring fresh selling pressure to risk-sensitive assets such as BTC.
Strategy’s sale tests Bitcoin market resilienceStrategy announced on Monday that it sold 3,588 BTC for $216 million to fund dividends on its Digital Credit. This news initially weighed on BTC, which corrected roughly 4%. However, the Crypto King recovered and closed Monday with mild gains, suggesting the selling pressure was largely absorbed.
Crypto Finance reported on Tuesday that transactions of this size are typically executed over-the-counter (OTC) and extensively hedged well before public disclosure. By the time the market receives the announcement, the underlying exposure has usually already been absorbed.
The report further noted that Bitcoin’s deep liquidity enables it to absorb sizeable transactions without causing significant market disruption, explaining the short-lived price correction.
In an exclusive interview, Dean Chen, Analyst at Bitunix Exchange, told FXStreet that “Strategy didn’t weaken the Bitcoin treasury model—it matured it. Selling a fraction of its holdings wasn’t a loss of conviction; it was proof that Bitcoin can function as a liquid corporate treasury asset.”
Chen, however, remains cautiously bearish on BTC in the short term, citing elevated US Treasury yields and stronger returns in equities; AI-related investments and IPOs still offer stronger return narratives and still-weak institutional inflows despite a modest improvement in spot Bitcoin ETF demand. He believes Bitcoin’s broader trend will depend on whether global investors increase allocations to risk assets rather than on Strategy’s sale alone.
In the long term, Chen expects Bitcoin to remain range-bound with a slight downside bias this week, as the market still lacks meaningful incremental capital and competition for global liquidity remains intense.
“I see $68,500 as the key near-term resistance level and $62,000 as the primary support. Unless macro conditions improve materially, I expect Bitcoin to finish the month modestly below current levels,” Chen concluded.
Indecision among institutional investorsInstitutional demand revived slightly over the first two days of this week, following several weeks of outflows. However, later in the week, SoSoValue data showed that spot BTC ETFs recorded two days of outflows, bringing net flows to a positive $106.96 million through Thursday, marking a slight improvement. If Friday’s flows remain positive, BTC would break the eighth week of steady withdrawals. This is an early sign of improving institutional demand, which could lift prices.
Total Bitcoin spot ETF net inflow daily chart. Source: SoSoValue
Total Bitcoin spot ETF net inflow weekly chart. Source: SoSoValueCautious Fed limits BTCOn the macroeconomic front, the Federal Open Market Committee (FOMC) Minutes from the June 16–17 meeting were released this week and revealed that policymakers were divided over the direction of interest rates. The minutes reflected growing concern among Federal Reserve (Fed) officials over inflation just as worries about the labor market slightly receded.
Following the release, swap traders are now pricing in roughly a 21.9% chance of a rate hike at the next Fed meeting in July, according to the CME FedWatch tool. The cautious policy outlook kept investors on the sidelines, limiting demand for risk assets, and Bitcoin has traded sideways so far this week.
Technical outlook: Still early to call a bottomBitcoin extends its slight recovery, reclaiming $64,000 on Friday after a 6.84% rebound in the previous week. BTC is finding support around the 200-week Simple Moving Average (SMA) at $62,874 after finding support around the ascending trendline (drawn by connecting multiple lows since January 2023) in the previous week.
If the 200-week SMA at $62,874 holds as support, BTC could extend gains toward the 78.60% Fibonacci retracement level at $65,520 (from the August 2024 low of $49,000 to the October 2025 record high of $126,199).
Momentum indicators on the weekly chart show signs of improvement: The Relative Strength Index (RSI) is hovering near 39, and a slightly negative but improving Moving Average Convergence Divergence (MACD) suggests downside momentum is losing intensity.
However, if BTC continues its correction and closes below the 200-Week SMA at $62,874, it could extend the decline toward the ascending trendline support at roughly $58,000.
BTC/USDT weekly chartOn the daily chart, the Crypto King is maintaining a capped tone, remaining below the 50-day, 100-day, and 200-day Exponential Moving Averages (EMAs), which all sit well overhead and continue to frame a still-dominant medium-term downtrend.
BTC is hovering just above horizontal support around $64,004. At the same time, a mildly positive RSI near 53 and a bullish MACD reading above zero suggest recovering momentum that has yet to overcome the prevailing overhead supply.
On the topside, initial resistance is seen at the 50-day EMA near $65,413, with further barriers at the 100-day EMA near $69,000 and the 200-day EMA near $75,029, ahead of a stronger horizontal cap at $84,410.
On the downside, immediate support comes at the horizontal level around $64,004; a sustained break below this floor would expose the $60,000 key psychological level on the chart as a potential demand zone.
BTC/USDT daily chart(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.
A 1-for-15 reverse split and a record-low share price cap a brutal stretch for the Trump-backed miner that bet on hoarding Bitcoin instead of pivoting to AI.
Posted July 10, 2026 at 6:44 am EST.
American Bitcoin, the mining venture co-founded by Eric Trump, has collapsed since going public last year, and the damage is now landing on the first family’s fortune. The company’s shares have fallen more than 95% from their September peak, wiping out over $600 million from Eric Trump’s stake in about 10 months, according to Bloomberg calculations.
The slide forced an emergency maneuver this week: a 1-for-15 reverse stock split to preserve the company’s Nasdaq listing.
This story is an excerpt from the Unchained Daily newsletter.
Subscribe here to get these updates in your email for free
Eric Trump owns roughly 6% of American Bitcoin, according to Bloomberg calculations, and serves as its chief strategy officer, while his brother and adviser Donald Trump Jr. holds an undisclosed stake. In the first quarter, the company posted a $118.2 million operating loss after marking down its Bitcoin treasury by $117.2 million.
As Bitcoin sank into a bear market and capital rushed toward artificial intelligence, investors rewarded miners that could repurpose their infrastructure for AI data centers. Rivals like Riot Platforms, MARA Holdings, and TeraWulf struck data-center deals and watched their shares climb an average of more than 60% this year. American Bitcoin made the opposite bet, doubling down on mining and accumulating the token, and its stock has plunged around 77% in 2026.
The company is not backing off. It added another 500 Bitcoin on Monday, and Eric Trump has said it would only sell for reasons that were “beyond catastrophic.”
American Bitcoin’s predecessor started in early 2025 pitching itself as an AI data-center venture before pivoting a month later to Bitcoin mining through a deal with Hut 8, which remains its majority owner and runs its day-to-day operations. The renamed company then reverse-merged with Gryphon Digital Mining to reach the Nasdaq. High-profile backers, including the Scaramucci family, had poured in hundreds of millions before the stock unraveled.
Related Listen: How Digital Credit Assets like STRC and SATA Differ from Bitcoin or DAT Stocks
AI-assisted content: This article was produced with the assistance of AI tools and was reviewed, edited, and fact-checked by a member of the Unchained editorial team before publication.
Bitcoin has seen a significant increase in the last 24 hours, climbing above $64,000. Despite this rise, investors remain cautious, although technical indicators are once again signaling an upward trend for BTC.
Accordingly, Bitcoin’s long-term Moving Average Convergence Divergence (MACD) indicator has turned positive. A positive MACD is considered a strong and reliable buy signal from a technical analysis perspective, as it indicates an increased likelihood of the uptrend continuing.
Technical analyst Omkar Godbole stated that the MACD turning positive indicates that the recent uptrend in Bitcoin may continue, but emphasized that breaking through critical resistance levels is necessary for a new bull market to be confirmed.
The analyst also noted that the long-term MACD indicator turning positive is a significant technical indicator for Bitcoin, historically demonstrating high reliability. Therefore, the analyst stated that the current signal strengthens expectations that the BTC price could continue its upward movement.
The analyst stated, “The MACD indicator gave a sell signal just before the market crash last October, and there was a significant recovery with buy signals in December of last year and February of this year,” suggesting that this indicator could be a reliable benchmark.
However, the analyst warned that investors should not rely on a single indicator to determine market trends.
However, the analyst notes that for the technical outlook to fully transform into a bull market, a sustained break above the strong resistance zone between $65,000 and $80,000 is crucial.
According to the analyst, the key resistance levels to watch closely in the $65,000-$80,000 range are as follows:
“50-day simple moving average: Approximately $65,434” Previous peak level: Approximately $67,292 200-day moving average: Approximately $71,147 The highest open position in the options market at the strike price is approximately $80,000. According to the analyst, a break above these levels could trigger a new bull market.
Bitcoin is Experiencing the Third Longest Consolidation Period in its History! The analyst noted that a reliable bullish signal has emerged for BTC, while Glassnode data indicates Bitcoin is experiencing the third longest consolidation period in history.
According to Glassnode analysts, Bitcoin has been trading in the $60,000-$70,000 price range for 307 days. Therefore, this period has been recorded as the third longest consolidation period in Bitcoin history.
According to Glassnode, the current period ranks third for BTC after longer consolidation periods in the 2018 bear market (between $10,000 and $20,000) and the 2022 bear market (between $20,000 and $30,000).
Analysts also note that $58,000 is an important support level for BTC on the downside.
Finally, analysts state that the direction in which Bitcoin exits this consolidation process, which has lasted for about 10 months, could determine the price trend. It is particularly believed that a new uptrend could gain strength if the upper resistance zones are breached.
*This is not investment advice.
Follow our Telegram and Twitter account now for exclusive news, analytics and on-chain data!
Meta gained over 4% in pre-market trading, extending its rally from the prior session.
According to market data from BIT (bit.com), Meta's pre-market stock gains have widened, with the stock now rising over 4% after closing up 4.7% in the previous trading session.
4 minutes ago
Founder of crypto trading platform RG Coins indicted again by the U.S. Department of Justice for transferring case-related crypto assets while in prison.
The U.S. Department of Justice announced that Rossen Iossifov, founder of Bulgarian crypto exchange RG Coins, has been indicted on additional charges for allegedly transferring approximately $290,000 in crypto assets that the court had ordered forfeited while he was in prison. Prosecutors alleged that in January 2024, while serving a sentence in a federal prison, Iossifov conspired to move the illicit assets through multiple crypto exchanges and mixing services to evade government seizure. Iossifov was previously sentenced to 111 months in prison in 2021 for his role in laundering nearly $5 million and assisting a Romanian cyber fraud ring in processing illicit funds; he was also ordered to pay over $2.6 million in restitution and forfeit related crypto assets. If the new charges are upheld, he faces up to an additional 25 years in prison.
4 minutes ago
Circle rises over 16% in pre-market trading after securing approval to establish a national trust bank.
According to market data from BIT (bit.com), Circle (CRCL)’s pre-market gain has widened to 16.63%, with its current price at $73.49. Earlier reports noted that Circle has obtained final approval from the U.S. Office of the Comptroller of the Currency (OCC) to establish a national trust bank.
4 minutes ago
Bitcoin mining company Cango will implement a 1-for-10 share consolidation.
Cango Inc. (NYSE: CANG), a Bitcoin mining company listed on the New York Stock Exchange, announced that its board of directors has approved a 1-for-10 share consolidation in accordance with authorization from its special general meeting of shareholders held on June 24. All issued and outstanding Class A and Class B common shares will be consolidated at a ratio of 10-for-1, with each share class remaining unchanged. The consolidation will take effect at 5:00 PM ET on July 20, 2026. Class A common shares are expected to begin trading on a post-consolidation basis starting from the opening of the New York Stock Exchange on July 21, with the stock code remaining “CANG” and the CUSIP number updated to G1820C 110. Following the consolidation, the total authorized share capital will remain at $100,000, consisting of 100 million common shares with a par value of $0.001 per share. No fractional shares will be issued; fractional portions will be canceled and revert to the company’s authorized unissued shares, with no consideration provided to holders.
4 minutes ago
Israel is willing to participate in strikes against Iran and is awaiting a statement from Trump.
Israel has informed the U.S. of its willingness to join further American military operations against Iran, and is currently awaiting a decision from U.S. President Donald Trump. Sources said Israel believes the new round of U.S.-Iran military conflict could last several more days. The Israeli Air Force, air defense, and intelligence units are on high alert, with the Israel Defense Forces (IDF) maintaining close coordination with the U.S. military. (CCTV)
4 minutes ago
BlackRock transfers approximately 8,700 ETH to Coinbase Prime, valued at around $15.81 million.
According to monitoring by Onchain Lens, BlackRock transferred approximately 8,700 ETH from its wallet linked to its Ethereum spot ETF to Coinbase Prime, valued at roughly $15.81 million based on current prices.
Metaplanet has started a joint study into Bitcoin-backed digital credit products with stablecoin issuer JPYC, tokenization company Progmat and its securities arm in Japan.
Summary
Metaplanet will study Bitcoin-backed credit using JPYC settlement and Progmat’s security token infrastructure in Japan. No product has launched, while issuance timing, yields, terms, and distribution methods remain undecided. Project Nova seeks to turn Metaplanet’s Bitcoin treasury into collateral for regulated digital credit products. The study will assess whether Bitcoin can support digital corporate bonds and other credit products as collateral or a credit-enhancement asset. However, the companies said they have not decided to issue any product.
Metaplanet studies Bitcoin-backed digital credit According to Metaplanet’s July 10 announcement, the four companies will study product design, regulation, investor protection, settlement and technical requirements. Their work will cover digital corporate bonds and other blockchain-based credit instruments.
Metaplanet and Metaplanet Securities will lead product design and distribution. JPYC will examine stablecoin issuance, redemption and payment functions. Meanwhile, Progmat will provide infrastructure for security token issuance, ownership records and transfer controls.
The proposed structure would use security tokens to record investor rights. JPYC or similar yen-based instruments could handle interest payments, distributions and redemptions. The participants will also assess round-the-clock trading and daily interest calculations.
However, Metaplanet warned that “nothing has been determined” regarding issuance timing, yields, terms or distribution. Any future product would require internal approvals, technical checks and talks with relevant authorities.
Project Nova expands Bitcoin’s balance-sheet role The study forms part of Project Nova, Metaplanet’s plan to build a Bitcoin-focused financial services business in Japan. The company said the project treats Bitcoin as “productive collateral on the balance sheet” rather than only a reserve asset.
Under the plan, Bitcoin could back credit instruments while stablecoins and security tokens connect traditional securities infrastructure with blockchain settlement. Metaplanet said it wants to offer yield products and wider capital-market access to retail and institutional investors.
As previously reported by crypto.news, Metaplanet agreed in June to acquire Siiibo Securities for JPY 2.1 billion. The licensed brokerage is scheduled to become Metaplanet Securities on July 13.
The acquisition gives Metaplanet access to an established corporate bond platform and a Type I Financial Instruments Business Operator. The company previously said it could use the platform to distribute Bitcoin-linked bonds and other income products in Japan.
Bitcoin treasury reaches 43,000 BTC Metaplanet’s credit study follows another expansion of its corporate Bitcoin holdings. The company bought 2,823 BTC during the second quarter, raising its holdings to 43,000 BTC.
The company acquired the latest batch at an average price of about JPY 12.7 million per Bitcoin. Its total average purchase price stood near JPY 15.3 million per coin after the transaction.
At the same time, revenue from Metaplanet’s Bitcoin income business fell about 41% from the previous quarter to JPY 1.747 billion. The company has continued adding Bitcoin while developing products that could generate income from its treasury.
Metaplanet has also set a long-term goal of holding 210,000 BTC by the end of 2027. However, the new study does not confirm that the company will pledge its existing holdings to any specific credit product.
Tokenized credit market continues expanding The proposed study comes as demand for blockchain-based financial assets continues to grow. RWA.xyz tracks tokenized government debt, private credit, corporate credit, commodities and other real-world assets across public and private networks.
Metaplanet said credit is suited to digitization because interest, repayment and collateral terms are fixed when an instrument is issued. Blockchain systems can then manage ownership records, payments and redemptions.
You can add another brick to the “wall of worry” facing the $2.27 trillion crypto market – and it has “Michael Saylor” written all over it.
Saylor runs a company called Strategy, formerly known as MicroStrategy. It was a software company that under Saylor’s leadership has been transformed into what crypto types call a major “hoarder” of Bitcoin.
His strategy goes something like this: He sells company stock and preferred shares while purchasing lots of Bitcoin. Strategy currently holds around 4% of all the available digital assets.
Michael Saylor runs a company called Strategy, formerly known as MicroStrategy. It was a software company that under Saylor’s leadership has been transformed into what crypto types call a major “hoarder” of Bitcoin. Jack Forbes / NY Post Design That’s a lot of Bitcoin, around 800,000 of them. With Bitcoin last year hitting all time highs of about $120,000, his investors have done well (60% plus return over the last five years). That is, until recently when shares of Strategy began reflecting the downdraft in digital coins.
The big question: Is Saylor going to turn the current Bitcoin winter into the storm of the century for crypto?
Along the way, there have been plenty of Saylor skeptics; the legendary short seller Jim Chanos is one. Chanos who began shorting Strategy stock last year in an arbitrage play he described on my “Risk and Return” podcast.
Another has been my podcast partner, Bob Sloan, a longtime capital markets professional who now runs S3 Partners, a well-regarded market data firm that is often referred to as the gold standard for investor and trader positioning. Bob has long warned of the dangers that Saylor posed for Bitcoin and crypto in general.
Any market that leans heavily on one investor buying and not selling is courting trouble when that buyer does become a seller, which given the volatility of Bitcoin was always inevitable, Sloan argued.
Is Saylor good or bad for crypto? He has many skeptics. Getty Images Or as he put it: “Funding was required to keep his buying going. No funding equals forced selling.”
Bob’s bunny has a good nose (he’s seen plenty of market ructions during his long career). I was reminded of this Monday when my old colleague at the Wall Street Journal, Jonathan Weil, did a deep dive into Saylor’s business model. Weil raised questions about the in-house metrics used by Saylor that, he reports, have overvalued the company’s stock that became his “currency to buy bitcoin.” With that overvaluation comes the likelihood of selling as opposed to buying Bitcoin.
Informed of these sentiments, a press rep for Saylor hasn’t provided any comments as this piece goes to press. But Weil makes a compelling case that Saylor’s strategy has some holes, as did sources including Sloan even before the WSJ piece was published. It’s why the crypto winter is now likely to stick around until next spring as Saylor, the market’s marginal buyer, could become a significant seller to support his stock price.
That’s something he has been loath to do until Monday when Strategy released a filing with the Securities and Exchange Commission that showed he recently sold 3,588 coins worth over $200 million. Ok it’s a sliver of his holdings, and many Bitcoin maxi’s tell me the market is more than Saylor. It includes big Wall Street firms and plenty of long-term investors.
Maybe. Or maybe Saylor’s selling is the start of something bigger and a crypto winter that lasts until next summer.
Metaplanet, Metaplanet Securities, JPYC, and Progmat have announced a collaborative initiative in Japan to examine how Bitcoin, stablecoins, and security tokens can be integrated into digital credit products. This partnership aims to cover a broad spectrum of credit tools, including digital corporate bonds, and marks a significant step towards financial innovation in Japan’s capital markets.
Focus areas of the collaborationThe participating companies are targeting the creation of a more efficient credit market. To achieve this, they will evaluate financial strategies that leverage Bitcoin as collateral, consider blockchain-based settlement systems, and integrate digital security infrastructure. The overarching goal is to make the issuance, distribution, and repayment processes of digital credit products more seamless and cohesive.
Metaplanet will contribute its expertise in Bitcoin treasury strategies and product design, while Metaplanet Securities will focus on the structuring and distribution of digital credit products. JPYC is set to assess the use of stablecoins for payments, interest distribution, and redemption processes. Progmat, meanwhile, will provide the core infrastructure for the issuance and management of security tokens.
Glossary: A security token refers to the digital representation of bonds or similar financial instruments on a blockchain. Progmat is a well-known Japanese platform developing infrastructure for digital securities and tokenized finance applications.
The companies indicated that no final decisions have yet been made regarding issuance dates, product terms, yield rates, or distribution methods.
Connection to Project NOVAThis joint action builds on Metaplanet’s previous Project NOVA strategy. Unlike a traditional approach that treats Bitcoin as merely a balance sheet reserve, Project NOVA investigates ways to utilize Bitcoin as a productive financial asset. Metaplanet is now exploring Bitcoin’s potential as collateral or a credit enhancement for digital finance offerings.
The envisioned framework aims to unite Bitcoin-linked products, digital securities, credit instruments, and stablecoin-based settlements in a single financial ecosystem. This structure is designed to appeal to both individual and institutional investors by providing a versatile platform for investments and borrowing.
Why the Japanese market stands outJapan has previously emerged as a market for tokenized corporate bond issuances. In recent years, financial institutions and blockchain companies have conducted various pilot projects involving security tokens, stablecoins, and blockchain-based settlement systems. Initiatives led by Progmat, the Japan Exchange Group, and major banks have already explored digital bonds, tokenized government debt, and stablecoin-backed on-chain settlements.
What makes Metaplanet’s latest initiative distinctive is its plan to combine Bitcoin, stablecoins, and security tokens within a unified credit market framework. The partners are looking beyond just tokenized securities issuance or payment infrastructure upgrades. Their research will evaluate whether Bitcoin-backed digital credit products can be issued, traded, and settled on blockchain networks in a way that fully complies with Japan’s financial regulations.
This project also targets funding alternatives for mid-sized and growth-oriented companies, which often face high costs in traditional bond markets. If the initiative moves past the research phase, it could become one of the first efforts in Japan to combine Bitcoin, yen-based stablecoins, and security tokens within a single regulated capital market structure.
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.
Meta gained over 4% in pre-market trading, extending its rally from the prior session.
According to market data from BIT (bit.com), Meta's pre-market stock gains have widened, with the stock now rising over 4% after closing up 4.7% in the previous trading session.
4 minutes ago
Founder of crypto trading platform RG Coins indicted again by the U.S. Department of Justice for transferring case-related crypto assets while in prison.
The U.S. Department of Justice announced that Rossen Iossifov, founder of Bulgarian crypto exchange RG Coins, has been indicted on additional charges for allegedly transferring approximately $290,000 in crypto assets that the court had ordered forfeited while he was in prison. Prosecutors alleged that in January 2024, while serving a sentence in a federal prison, Iossifov conspired to move the illicit assets through multiple crypto exchanges and mixing services to evade government seizure. Iossifov was previously sentenced to 111 months in prison in 2021 for his role in laundering nearly $5 million and assisting a Romanian cyber fraud ring in processing illicit funds; he was also ordered to pay over $2.6 million in restitution and forfeit related crypto assets. If the new charges are upheld, he faces up to an additional 25 years in prison.
4 minutes ago
Circle rises over 16% in pre-market trading after securing approval to establish a national trust bank.
According to market data from BIT (bit.com), Circle (CRCL)’s pre-market gain has widened to 16.63%, with its current price at $73.49. Earlier reports noted that Circle has obtained final approval from the U.S. Office of the Comptroller of the Currency (OCC) to establish a national trust bank.
4 minutes ago
Israel is willing to participate in strikes against Iran and is awaiting a statement from Trump.
Israel has informed the U.S. of its willingness to join further American military operations against Iran, and is currently awaiting a decision from U.S. President Donald Trump. Sources said Israel believes the new round of U.S.-Iran military conflict could last several more days. The Israeli Air Force, air defense, and intelligence units are on high alert, with the Israel Defense Forces (IDF) maintaining close coordination with the U.S. military. (CCTV)
4 minutes ago
BlackRock transfers approximately 8,700 ETH to Coinbase Prime, valued at around $15.81 million.
According to monitoring by Onchain Lens, BlackRock transferred approximately 8,700 ETH from its wallet linked to its Ethereum spot ETF to Coinbase Prime, valued at roughly $15.81 million based on current prices.
4 minutes ago
QCP: Japan's bond market stabilization drives Bitcoin rebound to near $64,000
QCP Capital has released a new report, noting that the decline in Japanese government bond yields has eased market concerns over the unwinding of yen carry trades and capital repatriation, driving Bitcoin to rebound to around $64,000. While Middle East geopolitical risks, a stronger U.S. dollar, and the Federal Reserve’s hawkish stance continue to weigh on risk assets, Bitcoin has demonstrated some resilience in the $60,000 range. The report adds that future trends will hinge primarily on the global liquidity environment, U.S. inflation data, and the outcome of the Bank of Japan’s month-end meeting.
Strategy, the company formerly known as MicroStrategy, sold 3,588 BTC for approximately $216 million between July 1 and July 5. That’s the largest single Bitcoin liquidation in the company’s history, and it came from the man who once made “never sell” sound like a blood oath.
Michael Saylor’s firm still holds 843,775 BTC after the sale.
From diamond hands to dynamic allocation Strategy didn’t sell Bitcoin because Saylor suddenly lost faith in his thesis. The company sold to replenish USD reserves earmarked for preferred-stock dividends on its Digital Credit securities.
The board authorized potential sales of up to $1.25 billion in Bitcoin on June 29, giving management room to sell significantly more if cash needs escalate. The goal, according to the company’s filings, is to avoid issuing additional equity, which would dilute existing shareholders.
Advertisement
Strategy had already broken the seal in late May 2026, selling 32 BTC for $2.5 million. Selling 3,588 coins at roughly $60,000 each is not a rounding error.
The average sale price of approximately $60,000 per Bitcoin is worth noting because Strategy’s overall cost basis sits above that level — they sold at a loss relative to what they paid for much of their stack. The company reported an $8.32 billion loss in Q2 2026 related to digital assets.
Strategy is now framing this shift as “dynamic capital allocation” designed to improve Bitcoin-per-share metrics.
Why the market cares more than the math suggests 3,588 BTC represents roughly 0.4% of Strategy’s total holdings.
MSTR shares declined several percent intraday on July 6, though they stabilized afterward. Bitcoin itself saw modest selling pressure.
The board authorized up to $1.25 billion in potential Bitcoin sales. That’s roughly 20,800 BTC at current prices, or about 2.5% of the company’s total stack.
The institutional contagion risk The $8.32 billion quarterly loss on digital assets underscores how painful this Bitcoin winter has been for corporate holders who bought aggressively during the bull market. Strategy accumulated the vast majority of its 843,775 BTC at prices that now look elevated compared to current trading levels.
The Bitcoin-per-share metric that Strategy is now optimizing for could actually benefit remaining shareholders if executed well, since selling Bitcoin to avoid equity dilution preserves each share’s claim on the remaining stack.
Disclosure: This article was edited by Editorial Team. For more information on how we create and review content, see our Editorial Policy.
TLDRBitcoin ETFs Lead Daily RedemptionsEther Funds Reverse Prior GainsWeekly Flow Trend Shows VolatilityGet 3 Free Stock Ebooks Crypto ETF outflows reached about $147 million on July 9, led by losses in Bitcoin and Ether funds. Bitcoin ETFs recorded $95.3 million in outflows, with FBTC and ARKB driving most redemptions. Ether ETFs saw $52.2 million in losses, reversing strong inflows recorded a day earlier. BlackRock’s IBIT remained flat, removing a key source of inflows that supported earlier sessions. Weekly ETF flows showed volatility, shifting from inflows to consecutive days of outflows. Crypto ETF outflows deepened on July 9 as U.S.-listed Bitcoin and Ether funds recorded combined losses of about $147 million. The session extended a weak trend following earlier signs of stabilization in institutional demand. The data confirmed that crypto ETF outflows continued despite recent price strength in major digital assets.
Bitcoin ETFs Lead Daily Redemptions Bitcoin funds recorded $95.3 million in net losses, reinforcing the latest wave of crypto ETF outflows across major issuers. Fidelity’s FBTC led the decline with $63.3 million in redemptions during the session. Ark and 21Shares’ ARKB followed with $39.9 million in outflows, increasing pressure on the category.
Smaller inflows partially offset losses but failed to reverse overall crypto ETF outflows for Bitcoin products. VanEck’s HODL added $5.4 million, while Morgan Stanley’s MSBT brought in $2.2 million. Bitwise’s BITB posted a marginal inflow of $0.3 million, limiting net declines.
BlackRock’s IBIT and Grayscale’s GBTC remained flat, removing a key source of demand seen earlier in the week. IBIT had previously driven inflows with over $200 million on July 6. Its neutral position allowed crypto ETF outflows to deepen without a strong counterbalance.
Ether Funds Reverse Prior Gains Ether ETFs recorded $52.2 million in net losses, adding to overall crypto ETF outflows across digital asset funds. Fidelity’s FETH accounted for $34.0 million of these redemptions. BlackRock’s ETHA also posted $12.7 million in outflows during the same session.
Grayscale’s ETHB and Bitwise’s ETHW contributed additional declines with losses of $2.7 million and $2.8 million, respectively. Other Ether funds remained flat, including VanEck’s ETHV and Invesco’s QETH. The absence of inflows across multiple issuers reinforced the scale of crypto ETF outflows.
The reversal followed a strong July 8 session when Ether ETFs attracted $70.5 million in inflows. FETH had led those gains before shifting to the largest source of redemptions. This rapid change highlighted how concentrated flows can drive short-term crypto ETF outflows.
Weekly Flow Trend Shows Volatility ETF flow data showed sharp swings throughout the week, reflecting inconsistent demand across issuers and products. Bitcoin ETFs gained $265.7 million on July 6 before slowing to $21.5 million on July 7. The trend reversed on July 8, when funds recorded $84.9 million in crypto ETF outflows.
The July 9 data confirmed a second consecutive day of losses, pushing total crypto ETF outflows deeper into negative territory. Ether funds followed a similar pattern, moving from strong inflows to notable redemptions within one day. This pattern indicated that flows remained uneven and highly sensitive to short-term conditions.
Solana ETFs provided limited support with $0.4 million in inflows, offering only a minor offset to broader crypto ETF outflows. VanEck’s VSOL and TSOL accounted for the small gains recorded in this category. Other Solana products remained flat, leaving overall flows dominated by Bitcoin and Ether declines.
Crypto ETF outflows on July 9 highlighted continued weakness in institutional allocations despite recent market stability. The absence of strong inflows across major issuers allowed redemptions to drive overall performance. The latest session confirmed that crypto ETF outflows remain a key indicator of shifting demand trends.
Japanese lender CRYL has launched Bitcoin-backed loans of up to 1 billion yen ($6.2 million), allowing individuals and businesses to raise fiat currency without selling their BTC.
On Thursday, the company announced that borrowers can access between 1 million yen ($6,200) and 1 billion yen ($6.2 million) at annual rates of 3.5% to 7%. The loans carry collateral ratios of 40% to 60%. They run for one year and can be used for expenses, including taxes, business funding and property purchases.
The launch expands Japan’s small market for regulated crypto-backed financing. In 2020, Fintertech, a Daiwa Securities Group and Credit Saison joint venture, launched a similar service and currently lends up to $3 million against Bitcoin or Ether. However, CRYL's service advertises a higher ceiling and a lower minimum, while limiting collateral to BTC.
CRYL framed the service as adding a third option beyond holding or selling their crypto. However, applicants must undergo screening, and most loans use a lump-sum repayment structure, with principal and interest due after one year.
Bitcoin-backed finance takes shape in JapanFintertech’s product shows that Bitcoin-backed lending has been available in Japan for several years. The company’s website currently lists loans for individuals and businesses with annual rates of 4% to 8%, a 50% collateral ratio and a minimum borrowing amount of 5 million yen ($31,000).
The service also gained a wider distribution channel in October 2025, when Daiwa Securities began introducing customers at its branches across Japan to Fintertech’s digital asset-backed loans. Fintertech is owned 80% by Daiwa Securities Group and 20% by Credit Saison.
Other Japanese companies are exploring how Bitcoin could support more complex credit products. On Friday, Metaplanet Securities, yen stablecoin issuer JPYC and tokenization infrastructure provider Progmat announced a study into using BTC as collateral or credit enhancement for digital corporate bonds and other blockchain-based credit instruments.
Unlike the loan products offered by CRYL and Fintertech, the Metaplanet initiative remains at the research phase, and the companies said no issuance has been decided.
Magazine: Bitcoin’s quantum dilemma: Bigger blocks or STARK proofs?
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.
Japanese lender CRYL has launched Bitcoin-backed loans of up to 1 billion yen ($6.2 million), allowing individuals and businesses to raise fiat currency without selling their BTC.
On Thursday, the company announced that borrowers can access between 1 million yen ($6,200) and 1 billion yen ($6.2 million) at annual rates of 3.5% to 7%. The loans carry collateral ratios of 40% to 60%. They run for one year and can be used for expenses, including taxes, business funding and property purchases.
The launch expands Japan’s small market for regulated crypto-backed financing. In 2020, Fintertech, a Daiwa Securities Group and Credit Saison joint venture, launched a similar service and currently lends up to $3 million against Bitcoin or Ether. However, CRYL's service advertises a higher ceiling and a lower minimum, while limiting collateral to BTC.
CRYL framed the service as adding a third option beyond holding or selling their crypto. However, applicants must undergo screening, and most loans use a lump-sum repayment structure, with principal and interest due after one year.
Bitcoin-backed finance takes shape in JapanFintertech’s product shows that Bitcoin-backed lending has been available in Japan for several years. The company’s website currently lists loans for individuals and businesses with annual rates of 4% to 8%, a 50% collateral ratio and a minimum borrowing amount of 5 million yen ($31,000).
The service also gained a wider distribution channel in October 2025, when Daiwa Securities began introducing customers at its branches across Japan to Fintertech’s digital asset-backed loans. Fintertech is owned 80% by Daiwa Securities Group and 20% by Credit Saison.
Other Japanese companies are exploring how Bitcoin could support more complex credit products. On Friday, Metaplanet Securities, yen stablecoin issuer JPYC and tokenization infrastructure provider Progmat announced a study into using BTC as collateral or credit enhancement for digital corporate bonds and other blockchain-based credit instruments.
Unlike the loan products offered by CRYL and Fintertech, the Metaplanet initiative remains at the research phase, and the companies said no issuance has been decided.
Magazine: Bitcoin’s quantum dilemma: Bigger blocks or STARK proofs?
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.
New Hampshire’s Executive Council has rejected a proposal to issue up to $100 million in Bitcoin-backed revenue bonds linked to Bitcoin miner CleanSpark.
Summary
New Hampshire’s Executive Council rejected the proposed $100 million Bitcoin-backed bond by a 3-2 vote. CleanSpark planned to post about $160 million in Bitcoin without exposing taxpayers to direct repayment risk. Moody’s assigned the proposed bonds a Ba2 speculative-grade rating before the final state approval failed. The five-member council voted 3-2 against the plan during its July 8 meeting. The decision blocked the final state approval required for the New Hampshire Business Finance Authority to proceed with the transaction.
Meanwhile, the proposal appeared on the state’s July 8 Executive Council agenda. It called for the Business Finance Authority to issue taxable revenue bonds for NH CleanSpark Borrower Trust 2026-1.
The borrower planned to use the proceeds to finance a Bitcoin purchase and cover costs tied to the bond issuance. However, the Executive Council rejected the request after a public hearing and final review.
According to a Wednesday post on X, New Hampshire journalist Kevin Landrigan, three council members voted against the proposal, while two supported it.
NH Executive Council votes, 3-2, against being the first state to issue conduit bond for investor, CleanSpark to buy $100 mil. of bitcoin. No NH taxpayer risk. @KellyAyotte backed it, but Councilors @NHkaren, Dave Wheeler, R-Milford, and Janet Stevens, R-Rye, did not. #nhpolitics
— Kevin Landrigan (@KlandriganUL) July 8, 2026 The vote ended what supporters had presented as the first rated Bitcoin-backed bond issued through a U.S. state authority. The Business Finance Authority had approved the structure in November 2025, but the deal still needed approval from the governor and council.
CleanSpark planned $160M Bitcoin collateral Under the proposed structure, a private borrower connected to CleanSpark would have posted about $160 million in Bitcoin as collateral for bonds worth up to $100 million.
The parties planned to hold the Bitcoin in segregated wallets managed by BitGo. If the collateral value fell below about $140 million, the structure would have triggered liquidation and bond redemption.
The bonds were designed as limited-recourse obligations. Bondholders could claim only the Bitcoin collateral and related proceeds if the borrower failed to repay them.
As previously reported by crypto.news, the state would not have pledged taxpayer funds, its general credit or other public assets to the deal.
Governor Kelly Ayotte supported the proposal. She said the structure could bring new investment opportunities to New Hampshire “without risking state funds or taxpayer dollars.”
However, council members who opposed the plan raised doubts about the use of a state-linked authority for a Bitcoin-backed financing structure.
Moody’s gave bonds a Ba2 rating Moody’s Ratings assigned the proposed bonds a provisional Ba2 rating in March. That rating sits below investment grade and falls within Moody’s speculative-grade category.
The rating agency reviewed two proposed taxable bond series with maturities in 2029. Bitcoin price volatility and the operation of the collateral liquidation process formed key parts of the credit review.
The collateral would have represented about 160% of the principal issued. That overcollateralization aimed to protect bondholders during market declines.
Still, a Ba2 rating shows that Moody’s viewed the bonds as carrying material credit risk. The rating did not provide a guarantee against losses or prevent the council from rejecting the transaction.
Supporters may seek another vote New Hampshire House Majority Floor Leader Keith Ammon criticized the council’s decision. He called it “an extremely short-sighted decision” and asked members to reconsider the proposal after reviewing more information.
Ammon said the rejection could reduce future fee revenue for the Business Finance Authority. However, the authority has not announced a new hearing or revised version of the bond plan.
The decision comes despite New Hampshire’s wider support for digital assets. As crypto.news previously reported, the state approved the initial bond framework in 2025.
New Hampshire also became the first U.S. state to authorize a strategic cryptocurrency reserve. Its law allows the state treasurer to invest a limited share of eligible public funds in qualifying digital assets.
The failed bond vote does not reverse that reserve law. It applies only to the CleanSpark-linked conduit bond proposal presented to the Executive Council.
Not financial or tax advice. PANews content is strictly educational and informational and is not investment advice, financial advice, tax advice, legal advice, or a solicitation to buy or sell any digital asset, security, or financial product. Do your own research and consult qualified advisers.
Disclosure. PANews may publish sponsored content, partner content, advertisements, affiliate links, event promotions, and market commentary involving Web3 projects, service providers, or financial products. PANews personnel, contributors, or affiliates may hold digital assets or other interests related to covered topics. See our Terms of Service.
The crypto market is going through a quiet phase, but many analysts believe this is when long-term opportunities are created. Crypto Coins continue to be an area of interest as institutional adoption is rising, governments are introducing clearer regulations, and blockchain networks are seeing record usage despite prices remaining below previous highs. Instead of chasing hype, one analyst says the market is focusing on projects with growing adoption, strong revenue, expanding ecosystems, and real-world utility.
Here are 10 cryptocurrencies that stand out in 2026.1. Bitcoin (BTC)Bitcoin remains the foundation of every crypto portfolio because its supply is permanently limited to 21 million coins.
The analyst says BTC is currently in an accumulation phase as institutions continue buying through spot ETFs and corporate treasury allocations. It remains the largest cryptocurrency and is widely seen as digital gold. Even though this list focuses on altcoins, most experts still recommend holding Bitcoin as the safest long-term crypto investment.2. Ethereum (ETH)Ethereum continues to dominate smart contracts and remains Wall Street’s preferred blockchain.
According to Galaxy Digital VP of Research Lucas Outumuro, Ethereum’s biggest strengths are its credibility, security, Layer-2 scaling, privacy upgrades, and future quantum-resistant roadmap.Why @Uptodatenow flipped from ETH skeptic to ETH bull:
"Credibly neutral settlement layer: the world needs that. Demand exists."
"I used to be very skeptical of… pic.twitter.com/WbwAmAcslv
— The Rollup (@therollupco) July 8, 2026 Ethereum is also benefiting from growing institutional adoption. Robinhood recently launched its own Layer-2 network using Ethereum technology, while tokenized real-world assets and stablecoins continue expanding on the network. 3. Solana (SOL)Solana is becoming one of the fastest-growing blockchain ecosystems.
Developers continue choosing Solana for payments, consumer apps, gaming, DeFi, and tokenized assets thanks to its high speed and low transaction costs.Helius CEO Mert Mumtaz recently described Solana as a “global Silicon Valley” for blockchain developers, where entrepreneurs can build products without worrying about scaling issues. The network also continues attracting major institutions through tokenized asset projects.4. Uniswap (UNI)Uniswap remains the largest decentralized exchange and continues benefiting from rising DeFi adoption.
One of its biggest catalysts this year is its partnership with Robinhood, bringing decentralized trading closer to mainstream investors.The protocol continues generating strong fee revenue while expanding its services across multiple Layer-2 networks, making UNI one of the strongest DeFi projects heading into the next market cycle.5. Cardano (ADA)Although Cardano has received criticism over the past few years, analysts believe the project remains undervalued.
Founder Charles Hoskinson recently argued that Cardano’s ecosystem continues growing steadily through research-driven development and new innovations instead of copying competing blockchains.The network is also expanding governance features, decentralized applications, and developer activity, keeping ADA among the largest blockchain ecosystems.6. Chainlink (LINK)Chainlink continues to strengthen its position as the leading blockchain oracle network.
Founder Sergey Nazarov said recent U.S. crypto legislation, including the GENIUS Act and the proposed CLARITY Act, will increase demand for Chainlink’s infrastructure.The network provides proof-of-reserves, cross-chain interoperability, and data services for stablecoins and tokenized assets. As banks and institutions tokenize more real-world assets, analysts expect Chainlink to play an increasingly important role.7. Bittensor (TAO)Artificial intelligence remains one of crypto’s fastest-growing sectors, and Bittensor (TAO) is widely viewed as its leading project.
According to Early crypto investor Michael Terpin, top AI tokens could outperform Bitcoin over the next few years as AI adoption continues accelerating.Bittensor allows developers to build decentralized AI networks while rewarding contributors through blockchain incentives. As AI investment grows globally, TAO is becoming one of the sector’s biggest beneficiaries.8. Hyperliquid (HYPE)Hyperliquid has become one of 2026’s biggest success stories.
The decentralized perpetual futures exchange processed over $1.34 trillion in trading volume during the first half of the year while generating more than $320 million in protocol revenue.Moreover, the project recently entered the Bitwise 10 Crypto Index ETF, replacing Avalanche, showing growing institutional interest. The analyst also sees future regulated trading products and institutional participation could drive further growth for Hyperliquid.9. Sui (SUI)Sui continues attracting developers through its high-performance blockchain architecture.
The network focuses on payments, gaming, AI applications, decentralized finance, and scalable infrastructure.Mysten Labs CEO Evan Cheng says Sui offers the technology needed to support large-scale on-chain financial applications while handling much higher throughput than many existing blockchains. Its rapidly growing ecosystem keeps it among the top Layer-1 projects to watch.10. XRPXRP remains one of the most hot cryptocurrencies as Ripple expands its global payments business.
The company continues growing its stablecoin ecosystem, tokenized asset services, and partnerships with financial institutions.With clearer U.S. regulations gradually taking shape and Ripple increasing its focus on cross-border payments and tokenization, the analyst thinks XRP could benefit from broader institutional adoption over the coming years. Story Ends Here
Trust with CoinPedia:CoinPedia has been delivering accurate and timely cryptocurrency and blockchain updates since 2017. All content is created by our expert panel of analysts and journalists, following strict Editorial Guidelines based on E-E-A-T (Experience, Expertise, Authoritativeness, Trustworthiness). Every article is fact-checked against reputable sources to ensure accuracy, transparency, and reliability. Our review policy guarantees unbiased evaluations when recommending exchanges, platforms, or tools. We strive to provide timely updates about everything crypto & blockchain, right from startups to industry majors.
Investment Disclaimer:All opinions and insights shared represent the author's own views on current market conditions. Please do your own research before making investment decisions. Neither the writer nor the publication assumes responsibility for your financial choices.
Sponsored and Advertisements:Sponsored content and affiliate links may appear on our site. Advertisements are marked clearly, and our editorial content remains entirely independent from our ad partners.
XRP broke out of its recent tight range to clear resistance around $1.10 on strong volume and then held near session highs instead of retracing.Traders now view $1.10 as key support, with $1.0880 as the next downside level and $1.1065 to $1.13 as the near-term resistance zone if momentum continues.Analysts remain divided on the broader outlook, with some eyeing upside targets near $1.19 to $1.23 and others warning that a drop below $1.09 could reopen a deeper pullback.XRP spent most of the session grinding inside a tight range before buyers finally forced the move above $1.10. The token pushed through resistance on a late volume spike, hit $1.1065 and then held near the highs rather than giving back the move. That turns $1.10 into the level traders now need to see defended.
News Background• XRP continued to attract attention from analysts tracking steady fund inflows even as bitcoin and ether products saw outflows in some markets.
• The token has spent recent sessions consolidating above $1.08, with traders watching whether that base can support a stronger move toward $1.13.
• Analysts remain split on the larger setup, with some pointing to Elliott Wave targets near $1.19-$1.23 and others warning that a failure to hold $1.09 could reopen downside toward lower support zones.
• Ripple’s expanding European regulatory footprint remains a longer-term support for institutional interest, though the session’s move was driven mainly by technical levels and volume.
Price Action Summary• XRP rose from $1.0827 to $1.1026 during the 24-hour session, gaining 1.8%.
• The token established higher lows through the session as buyers defended pullbacks near $1.0880.
• The main breakout came around 01:00 UTC, when volume jumped to 43.51 million XRP, about 88% above the 24-hour average.
• The move carried XRP to an intraday high of $1.1065 before price stabilized near $1.1020-$1.1040.
• A later 60-minute spike reached 14.17 million in volume, pushing XRP from $1.0958 to $1.1052 before profit-taking slowed the move.
Technical Analysis• The key development is that XRP cleared the $1.0950-$1.1000 area after several sessions of range-bound trading.
• The breakout was supported by volume, which gives the move more weight than the earlier low-volume attempts above resistance.
• Higher lows through the session show buyers are stepping in earlier, with $1.0880 acting as the main support level during pullbacks.
• The post-breakout hold near $1.1020-$1.1040 is constructive because XRP did not immediately lose the $1.10 area after the spike.
• The next test is whether buyers can keep XRP above $1.10 long enough to challenge $1.1065 and then $1.13.
What traders should watch• $1.10 is the immediate support level after the breakout.
• $1.0880 is the next level to watch if XRP slips back into its prior range.
• $1.1065 is the first resistance after marking the session high.
• $1.11 is the next psychological level, followed by $1.13 if momentum continues.
• A clean hold above $1.10 would keep the breakout structure intact, while a move back below $1.0880 would turn the session into another failed range breakout.
12345678910
Digital Assets: Quarterly Review and Outlook Q2
Digital Assets: Quarterly Review and Outlook Q2
Digital assets posted a third consecutive quarter of losses in Q2 2026, the longest losing streak since the 2022 bear market, as institutional capital rotated into AI equities and Bitcoin ETFs recorded their largest quarterly outflow since launch. Our report examines what drove the divergence, where structural adoption continued regardless, and what Q3 signals to watch.
3 hours ago
Digital assets posted a third consecutive quarter of losses in Q2 2026, the longest losing streak since the 2022 bear market, as institutional capital rotated into AI equities and Bitcoin ETFs recorded their largest quarterly outflow since launch. Our report examines what drove the divergence, where structural adoption continued regardless, and what Q3 signals to watch.
Why it matters:
Digital assets posted a third consecutive quarter of losses in Q2 2026, the longest losing streak since the 2022 bear market, as institutional capital rotated into AI equities and Bitcoin ETFs recorded their largest quarterly outflow since launch. Our report examines what drove the divergence, where structural adoption continued regardless, and what Q3 signals to watch.
Key Highlights XRP surged past $1.10 resistance during late trading hours, gaining 1.8% to reach $1.1065 Futures Open Interest remains stable at 2.14 billion XRP, increasing from Tuesday’s 2.09 billion The token continues trading beneath its 50, 100, and 200-day exponential moving averages, maintaining short-term bearish pressure Institutional investors show hesitation as XRP spot ETFs recorded approximately $7 billion in withdrawals on Wednesday Critical price zones: $1.10 acting as support, while $1.1065 and $1.13 present resistance barriers XRP posted a 1.8% gain on Thursday, escaping a narrow consolidation zone and pushing through the $1.10 threshold on elevated trading activity. The digital asset ranged from an intraday bottom of $1.0827 to a peak of $1.1065, subsequently settling within the $1.1020 to $1.1040 corridor.
[[IMG_2]]XRP Price The decisive upward movement occurred near 01:00 UTC, when trading volume spiked to 43.51 million XRP—approximately 88% higher than the 24-hour average. An additional surge during the following hour saw 14.17 million XRP change hands, propelling the price from $1.0958 to $1.1052 before sellers emerged to cap gains.
Market analyst Celal Kucuker offered perspective on XRP’s trajectory via X, stating: “Two years ago, XRP rallied over 500% in just one month. Now people say $7 by year-end is impossible… yet there are still 6 months left.” This commentary captures the renewed optimism circulating among retail market participants regarding XRP’s historical performance patterns.
Two years ago, $XRP rallied over 500% in just one month.
Now people say $7 by year-end is impossible…
yet there are still 6 months left.
Never underestimate what Ripple can do. pic.twitter.com/pB9a0BymSf
— Celal Kucuker (@CelalKucuker) July 9, 2026
Retail Participation Shows Gradual Increase Current perpetual futures Open Interest stands at 2.14 billion XRP, marking an uptick from Tuesday’s level of 2.09 billion, based on CoinGlass tracking. This incremental growth indicates retail traders are slowly re-entering the market.
Meanwhile, institutional appetite remains subdued. Spot XRP exchange-traded funds witnessed substantial withdrawals totaling roughly $7 billion on Wednesday, continuing a trend of modest flow activity throughout the week.
[[IMG_3]]Source: SoSoValue Broader market sentiment faced headwinds from escalating geopolitical tensions. US forces conducted strikes against 90 targets situated along Iran’s coastline on Wednesday. Iran’s Revolutionary Guard retaliated with counterattacks on American bases located in Kuwait and Bahrain. Qatar’s Prime Minister called for diplomatic resolution between the parties.
Technical Levels Under Scrutiny XRP continues positioning below critical exponential moving averages: the 50-day EMA at $1.17, the 100-day EMA at $1.28, and the 200-day EMA at $1.49. This cluster of moving averages represents significant overhead resistance.
[[IMG_4]]Source: TradingView Technical analysts remain divided on future direction. Several point to Elliott Wave projections placing targets between $1.19 and $1.23. Others warn that dropping below $1.09 could trigger tests of deeper support areas.
The Relative Strength Index hovers around 45, positioned beneath neutral territory. The MACD histogram displays a slight bullish divergence, hinting at a possible near-term recovery phase.
Throughout Thursday’s trading session, XRP maintained a pattern of ascending lows, with demand materializing around $1.0880 during retracements. The sustained price action above $1.10 following the breakout is viewed favorably by market observers.
Immediate resistance zones include $1.1065, followed by $1.11, and $1.13 should bullish momentum persist.
