Track market-moving stories before they get noisy

Strategy’s era as the dominant Bitcoin buyer may have come to an end following last week’s STRC turmoil, which cast doubt on the company’s Bitcoin-buying strategy and sent the cryptocurrency to a nearly two-year low, according to Bitwise chief investment officer Matt Hougan.

“For years, Strategy has been the most dominant Bitcoin buyer in the world and a one-way source of Bitcoin demand. Those days are likely over,” Hougan said Thursday. 

“I just expect it to be a less important figure in Bitcoin in the next cycle than it was in the last,” Hougan said, adding that investment banks, asset managers, pensions, endowments and sovereign wealth funds will likely replace Strategy as Bitcoin’s primary demand driver.

Confidence in Strategy’s Bitcoin-buying model weakened late last month when its main perpetual preferred stock offering — Stretch (STRC) — broke sharply from its $100 par value to below $75, raising fears that its dividend model was unsustainable. 

The STRC incident coincided with Bitcoin (BTC) falling to a 21-month low of $58,190 on June 25, further rattling confidence across the crypto market. 

Strategy responded by committing to sell Bitcoin where necessary to fund dividends and by expanding its US dollar reserve to $2.55 billion — easing immediate concerns but weakening its position as the industry’s most aggressive Bitcoin buyer, Hougan said.

Hougan said he still expects Strategy to be a “net buyer” in the next bull run, however.

Bitwise portfolio manager Gordon Grant (left) speaks with Hougan (right) about Strategy’s future outlook with STRC. Source: Bitwise

STRC example of “financial engineering” gone wrongHougan described the STRC incident as “classic end-of-cycle dynamics” and likened its collapse to a similar case of “financial engineering” in 2021, when Grayscale’s GBTC premium imploded.

“Money searching for high yields and low volatility was used to buy Bitcoin, which offers neither,” Hougan said. “This money never really fit Bitcoin. And so, it needs to be cleared out before we can find a bottom. That's what's happening today.”

Strategy’s issue with STRC overblown: Strive CEOStrive CEO Matt Cole, however, said Strategy’s incident with STRC has drawn too much media attention and pushed down Bitcoin’s price more than it should have.

Speaking with NovaDius Wealth Management president Nate Geraci on Thursday, Cole noted that Strategy's 847,363 Bitcoin represents just 4% of the total supply, and while Bitcoin isn’t a public company, by the US Securities and Exchange Commission’s standards, a 4% stake wouldn't be considered material. 

“If one person owned 4%, you don't even have to report that publicly to the SEC because the SEC deems 4% to be immaterial. They start to view a position to be material at 5%.”Strategy isn’t facing liquidity risk: HouganDespite concern over STRC, Hougan said Strategy has $52 billion worth of liquid assets marked against $7 billion of debt, and that Bitcoin would need to drop another 70% (about $18,500) for the company to be put at risk.

Hougan also noted that if Strategy were to start selling its Bitcoin today, it could cover dividends from STRC and its other perpetual preferred stock offerings for the next 28 years.

Magazine: Bitcoin decouples from tech stocks, Ether eyes ‘selling wave’: Market Moves

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.

Bitcoin (BTC) price holds above $61,000 on Friday, maintaining a steady stand during early Asian hours after a two-day recovery of nearly 5%. The risk-off market sentiment eases with the Fear and Greed Index rising to 23  on Friday, indicating a gradual increase in buying pressure. Worldcoin (WLD) and Uniswap (UNI) emerge as preferred tokens over the last 24 hours, outperforming other assets by a significant margin.

Bitcoin’s recovery lacks firm momentumBitcoin keeps steady above $61,000 at press time on Friday. BTC maintains a mild near-term recovery tone amid a broader bearish bias, with prices well below the 50-day Exponential Moving Average (EMA) at $66,015 and the 200-day EMA near $77,159.

The two-day rebound in BTC reflects renewed bullish support near the $60,000 support level, with investors likely buying the dip. Although institutional outflows continue, corporate demand holds with Metaplanet acquiring 2,823 Bitcoins for $225 million in the second quarter of 2026, expanding its holding to 43,000 BTC.

The Relative Strength Index (RSI) hovers just below the neutral 50 line, and the Moving Average Convergence Divergence (MACD) holds above its signal line, suggesting that any rebounds could still face strong overhead supply.

On the topside, initial resistance emerges at the 50-day EMA around $66,015, with a subsequent barrier at the 200-day EMA near $77,159; a break would be needed to ease broader bearish pressure.

BTC/USDT daily price chart.On the downside, the main support sits around the $60,000 zone, reinforced by both the prior horizontal floor and an upward-sloping trendline, and a clear drop below this area would expose the pair to deeper declines in the coming sessions.

Worldcoin and Uniswap rebound to the upsideWorldcoin is up 7% at press time on Friday, extending the 12% gains from the previous day. WLD tests the 50-day EMA at $0.4428, close to the 200-day EMA at $0.4755.

A decisive close above the moving averages could extend the recovery to the 78.6% Fibonacci retracement level at $0.5640, measured over the upswing from $0.2267 to $0.7299.

The MACD and signal line ease the downward trend as the negative histogram contracts, while the RSI reaches 45 with an uptick, suggesting downside momentum is losing its aggression.

WLD/USDT daily price chart.On the downside, immediate support is seen at the 50% retracement at $0.4048, with deeper demand zones emerging near the 23.6% Fibonacci retracement at $0.2980.

Uniswap rises above $3.00 at press time on Friday, following a 14% jump the previous day. The DeFi token maintains a near-term bullish bias, with price above the 50-day EMA at $3.02 but below the 200-day EMA at $4.09, which serves as the overhead target.

The MACD rises above its signal line into positive territory, and the RSI around 62 reinforces constructive momentum, suggesting buyers retain control in the short term despite a broader downtrend.

UNI/USDT daily price chart.On the downside, the 50-day EMA at $3.02 provides immediate support, and a break back below this level would signal fading bullish pressure and expose the recent lows for a deeper correction.

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

The cryptocurrency market saw sharp price movements over the past 24 hours, with XRP at center stage. A rapid upward breakout in XRP led to major liquidations among leveraged traders who had positioned for a decline. According to data from CoinGlass, forced closures of margin positions across the market exceeded $634 million within the same period.

Short positions faced heavy pressureRoughly 73% of total losses came from short positions, highlighting how many investors betting against the market were caught off guard by the sudden rally. For XRP, the imbalance was even greater: about 80.6% of all liquidations in the token were on short trades, reflecting the heightened vulnerability among those who predicted further downside.

The latest rally in XRP followed a relatively calm period between $1.02 and $1.06, placing significant stress on bearish leveraged trades.

After trading sideways in the $1.02 to $1.06 range, XRP broke through resistance at $1.0525 and surged to $1.0829. This sharp move triggered a series of stop-loss orders positioned at key intermediate levels, intensifying liquidations for those on the wrong side of the trade.

$1.30953 emerges as a critical thresholdDespite recent volatility, the area of greatest selling pressure for major XRP holders remains higher up. On-chain data reveals that $5.79 million in capital is concentrated around the $1.30953 mark. The current price still sits 20.93% below this pivotal resistance level, indicating substantial room for further upward tests if momentum persists.

CoinGlass has established itself as a key analytics platform for monitoring liquidations and open interest trends in cryptocurrency derivatives markets, making it a reliable reference for the latest market dynamics.

Short-term pullback and support test in focusFrom a technical perspective, XRP’s move above $1.0525 paved the way for the most recent upswing. However, overbought signals have started to emerge, suggesting that the pace of gains may be slowing in the near term. Analysts point out that this may temporarily cool further advances as the market digests the move.

Following the first wave of liquidations, the market is expected to seek short-term equilibrium, with XRP likely to retest its former resistance as new support.

Looking ahead, a moderate pullback towards the $1.065 level appears likely in the coming hours. Maintaining this support could provide buyers with a stronger foundation for potential medium-term moves toward the $1.30953 resistance zone.

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.

The launch of the Ripple-backed Open USD (OUSD) stablecoin has been overshadowed by a suspected fake issuer account that XRP Ledger validators have warned users not to trust.

Summary

XRP Ledger validators have warned users about a suspected fake OUSD issuer posing as the newly launched stablecoin. Validator Vet said the issuer lacks the official two-way verification needed to confirm its legitimacy. The warning follows Open USD’s launch by a consortium backed by Ripple, BlackRock, Visa, Coinbase, and more than 140 companies. Validators say the listed OUSD issuer cannot be verified According to XRP Ledger validator operator GrimmReaper, a transaction-monitoring tool connected to his validator recently detected a newly activated issuer using the “Open Standard” name on the XRP Ledger, prompting him to investigate whether it was linked to the newly launched OUSD stablecoin.

GrimmReaper shared a screenshot from Bithomp showing the account, which included the website joinopenstandard.netlify.app and a recently activated XRP Ledger address.

We might have our answer about OUSD being on the xrpl if this is legit. What do you guys think @krippenreiter and @Vet_X0 ? I have an app that watched my transactions coming into my validator and made it very able to watch for any issuer for a token name so this came up today. pic.twitter.com/tdxgl6KHsq

— GrimmReaper (@jgrimm5) July 2, 2026 Posting the image on X, he asked fellow XRPL validators Krippenreiter and Vet whether the issuer appeared legitimate. He later explained that his monitoring software tracks incoming validator transactions and automatically flags newly created token issuers using specific names.

The account also displayed advertisements such as “Earn 12% on XRP” and “Play Slots and win 70,000 XRP.” While those ads are not issued by the account itself, they appeared alongside the Bithomp page shown in GrimmReaper’s screenshot and were highlighted as common themes frequently associated with cryptocurrency scams.

Responding to the post, XRPL dUNL validator Vet urged users to assume the issuer was fraudulent until official confirmation was provided by the Open USD project.

According to Vet, a legitimate token issuer should provide what he described as a “2 way pointer,” where the issuer address links to the project’s official website and the project independently publishes the same issuer address. Vet said those verification steps were absent in this case, adding that users should not trust any issuer without confirmation from both sides.

The warning comes as the XRP Ledger community is already discussing issues reported after the rollout of the network’s v3.2.0 upgrade, with validators continuing to monitor suspicious activity across the ecosystem.

OUSD enters a competitive stablecoin market Open Standard officially launched the OUSD stablecoin on June 30, introducing a revenue-sharing model backed by more than 140 companies. The consortium includes Ripple, Visa, Mastercard, BNY, Standard Chartered, BlackRock, Google, Shopify, Coinbase and Solana.

According to the consortium, OUSD allows businesses to mint and redeem the stablecoin without fees or minimum volume requirements. It also plans to distribute reserve-generated income to participating partners after deducting a management fee, while governance responsibilities will be shared across consortium members.

Ripple’s participation as a founding member has drawn attention from the XRP community, making the project a high-profile target for impersonation attempts shortly after launch.

The stablecoin’s debut has also influenced financial markets. Circle Internet Group shares fell more than 17% on July 1 after investors reacted to the launch of OUSD and its revenue-sharing model, which introduces another institutional-focused competitor in the stablecoin sector.

Circle Chief Executive Officer Jeremy Allaire dismissed suggestions that OUSD poses a major threat to USDC, saying the stablecoin market is large enough to support multiple successful issuers. Still, the decline in Circle’s share price indicated that investors are closely watching how new distribution and revenue-sharing structures could affect competition as stablecoin adoption continues to expand.

Every crypto market cycle creates the same debate. Should investors continue buying established altcoins with proven track records, or look at earlier-stage projects that still have room to grow before reaching major exchanges? The answer often depends on investment goals rather than choosing one category over the other.

In 2026, that comparison has become even more relevant. Ethereum, Solana, XRP, and Cardano continue defending important support levels while waiting for stronger market momentum.

At the same time, AI-powered presales like MemeToro ($MT) are attracting investors looking for exposure to blockchain projects still in their early stages of development.

Established Altcoins Continue Facing Market Pressure Several of the market’s biggest cryptocurrencies remain under pressure despite continued ecosystem growth.

Ethereum entered July trading near $1,570, completing its first-ever stretch of three consecutive negative quarters. Although developers continue building across its ecosystem, price recovery has been slower than many investors expected.

Solana has experienced a similar story.

The network continues processing strong blockchain activity, but SOL remains approximately 54% below its January high of $150, trading around the $75 level while attempting to stabilize after months of correction.

Cardano also continues struggling to reverse its broader trend.

The token remains below both its 50-day and 200-day exponential moving averages, highlighting how difficult it has been for buyers to regain sustained momentum.

These projects remain among crypto’s most established ecosystems, but near-term price action has reflected the cautious mood affecting the wider market.

XRP Continues Waiting for Its Next Catalyst XRP remains one of the most closely watched large-cap cryptocurrencies.

The token is currently trading near $1.05, holding above an important support zone between $1.00 and $1.06. Analysts continue warning that losing this range could expose XRP to a deeper correction toward $0.80.

Regulatory uncertainty has also slowed momentum.

Expectations surrounding the CLARITY Act have been pushed further into the second half of the year, delaying one of the catalysts many investors had been anticipating.

Meanwhile, newly launched spot XRP ETFs recorded their first period of net outflows at the end of the second quarter, reflecting broader institutional caution across the digital asset market.

Despite these challenges, XRP continues maintaining one of the largest communities in crypto.

MemeToro Is Following a Different Path Unlike established cryptocurrencies already trading on major exchanges, MemeToro ($MT) remains focused on ecosystem development before public trading begins.

The platform combines artificial intelligence with several blockchain products rather than concentrating on one use case.

Its AI Agent continuously analyzes market narratives, social conversations, online trends, and cultural developments before autonomously supporting fair no-code memecoin launches.

The ecosystem extends beyond AI automation.

Users can participate in decentralized prediction markets covering cryptocurrencies, politics, sports, entertainment, and global events using $MT and BNB. SocialFi participation, behavioral finance tools, and staking rewards of up to 35% APR provide additional utility throughout the platform.

Instead of relying solely on market speculation, MemeToro is building multiple products before exchange listings arrive.

Different Risk Profiles Appeal to Different Investors Comparing established cryptocurrencies with early-stage presales is not simply a question of potential returns.

Ethereum, Solana, XRP, and Cardano already have mature ecosystems, large communities, and established trading markets. Their future growth depends largely on continued adoption, improving market sentiment, and broader macroeconomic conditions.

Crypto analyst Michaël van de Poppe recently suggested that bearish sentiment across major assets has reached levels often associated with long-term accumulation phases before stronger recoveries emerge.

Presales operate differently. Projects like MemeToro are still completing roadmap milestones, meaning investors evaluate development progress alongside future market potential rather than existing trading history.

For many portfolios, both approaches can complement one another.

MemeToro Presale Update: Stage 3 Presale Moving Steady The MemeToro Stage 3 presale has reached 35% of its target, having raised $46,284.54 of the allocation’s $80,644.11 goal. Upon completion of this round, the $MT token price will transition from the current rate of $0.00154 to the Stage 4 rate of $0.00171.

Operating on the BNB Chain, the MemeToro platform integrates four core functionalities under a single ecosystem:

An AI agent that creates memecoins based on live trending data. Prediction markets for wagering on real-world events. An online casino that utilizes $MT tokens natively. A staking system offering up to 35% APR. The $MT token has a fixed total supply of 1.2 billion, with 71% assigned to the presale with no vesting restrictions. The platform currently accepts payments via credit/debit card, ETH, BNB, USDT, and USDC at memetoro.com.

More Information on MemeToro ($MT) Presale Here:

Website: https://memetoro.com/

X: https://x.com/memetoro_mt

Telegram: https://t.me/memetoro_mt

Follow our Telegram and Twitter account now for exclusive news, analytics and on-chain data!

Chris Larsen, Ripple Labs’ co-founder and chairman, has been named among the investors backing a financial startup founded by the son of US Senator Kirsten Gillibrand. The disclosure comes at a pivotal moment, as the Senate continues its deliberations over the CLARITY Act, a bill that could significantly reshape the regulatory landscape for the entire US crypto sector.

Derivatives platform takes center stage in investmentAccording to a Thursday report from Politico, Larsen is one of a handful of investors who provided funding to American Perpetuals Exchange Corp. (APEC), a company founded by Theodore Gillibrand. While the report does not specify Larsen’s exact contribution, it notes that most investors in the derivatives platform committed between $5,000 and $10,000 each, with APEC raising a total of $30 million to date.

American Perpetuals Exchange Corp, or APEC, aims to establish itself as a player in the field of financial derivatives. Derivatives allow investors to take positions based on the projected price movements of an underlying asset, using contracts rather than actually holding the asset itself.

Mini glossary: Perpetuals are derivatives contracts that do not have a set expiration date. These instruments are especially popular among crypto traders looking to take short-term positions on price movements.

Ethics become main focus in CLARITY Act discussionsThe timing of Larsen’s investment has sparked additional interest because Senator Kirsten Gillibrand is directly involved in negotiating the ethical framework of the Digital Asset Market Structure and Investor Protection Act, widely known as the CLARITY Act. The outcome of these ethics debates is expected to have far-reaching consequences for US-based crypto firms, Ripple included.

In May, Senator Gillibrand stated that no senator would support the bill unless its ethical issues were fully addressed.

According to a spokesperson for Senator Gillibrand, referencing a statement dated June 18, the senator’s son is an independent adult who founded his own business and that Gillibrand herself has no involvement with APEC. Representatives for the company were not available for immediate comment on the matter.

Tight Senate calendar narrows legislative windowDemocratic senators are pushing for the inclusion of stronger ethical provisions in the CLARITY Act, and they want Republican lawmakers—who currently hold the majority in Congress—to support these additions. Among the reasons cited for these requests is former President Donald Trump’s known connections to the cryptocurrency sector. Meanwhile, Republicans anticipate that the bill could pass the Senate in July.

Senator Cynthia Lummis of Wyoming said in June that ongoing negotiations have focused on ethics rules, decentralized finance, and measures to combat illicit activity. However, with Republicans holding only a slim Senate majority, passing the bill will require support from Democrats to cross the critical 60-vote threshold.

The US Senate is currently in recess for Independence Day, with lawmakers set to reconvene on July 13. A further month-long break is planned for August, meaning there is only a narrow window to pass regulations impacting the crypto market structure before the legislative agenda is further delayed by the election season.

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.

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.

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Table of contents

Short-term traders and long-term holders of XRP are now deeper underwater than at any time in the token’s roughly 12-year trading history. According to the Santiment update, XRP’s 30-day Market Value to Realized Value (MVRV) has dropped to -45% and the 365-day MVRV stands at -47%. When both timeframes are combined, the average returns are the lowest XRP has ever recorded.

MVRV measures the unrealized profit or loss of holders by comparing the current market price to the average price at which coins last moved. Negative readings signal that a large portion of the market is in a loss position. At these levels, the data indicates capitulation-like conditions where fear and frustration dominate on-chain behavior. Santiment noted that such extreme distress has historically marked low-risk entry zones for contrarian positions, even if price can dip further in the short term.

Risk-Reward Flips as Maximum Pain Sets In The 30-day and 365-day MVRV metrics both deep in the red suggest that downside absorption has been extensive. Traders who bought in the last month are sitting on average losses of 45%, while those who entered over the past year are down 47%. The synchronized pain across cohorts often emerges near local bottoms. Santiment’s historical data suggests that the best risk-reward setups tend to appear when crowd sentiment and on-chain metrics signal maximum pain rather than confidence.

This does not guarantee an immediate bounce. The broader crypto market remains under pressure from regulatory headwinds, with banks pushing to derail a landmark crypto bill just days before a Senate vote. Such macro uncertainty can keep risk assets like XRP under water for longer. Still, from a statistical standpoint, the depth of unrealized losses makes further steep declines in XRP less probable without a final washout first.

What Remains Uncertain One risk is that MVRV can stay negative for extended periods if fresh selling emerges. The Santiment note acknowledges that price “can dip a bit more if crypto markets keep struggling.” Extreme negative MVRV is a necessary but not sufficient condition for a reversal. The timing of any relief rally depends on a shift in market structure—shorts getting squeezed, exchange outflows, or a spark from a catalyst that reverses sentiment.

For now, the data tells one clear story: the average XRP holder is nursing historic losses, and historically, that kind of pain has preceded sharp recoveries. The question is whether the macro picture will cooperate this time around.

AUTHOR

Max delves deep into the cryptocurrency realm, with a passion for altcoins and NFTs. Convinced of crypto's transformative potential, he envisions a decentralized financial future. Max's background in the financial sector grants him unique insights into global monetary systems. In his leisure, Max embraces the thrill of adventures and is an avid sports enthusiast, finding balance and rejuvenation away from work.

The crypto market has staged a tentative recovery, with the broader market climbing 2.2% to $2.12 trillion over the past 24 hours, and Ethereum [ETH] joining the move higher. Ethereum’s market capitalization rose 4% to $203.84 billion during the period, with its price hovering around $1,689. Yet while the tape looks like it has stabilized, the chart structure tells a different story, one that points to a fractal pattern placing the asset at real risk of another decline.

Key Takeaways Ethereum [ETH] climbed alongside a 2.2% broader market recovery to $2.12 trillion, with its own market cap up 4% to $203.84 billion and price near $1,689. A fractal pattern on the ETH chart mirrors two prior setups that both resolved as distribution, each ending in a double-digit percentage drop. Price is consolidating between support and resistance, and a decisive break in either direction will set the next trend. A fresh MACD golden cross points to building buying momentum, though the January 14 to 15 sequence shows momentum alone does not rule out a reversal. A rising Money Flow Index signals renewed capital inflows, leaving the outlook split between the bearish fractal and the bullish indicators. Ethereum’s Fractal Pattern Warns of Another Breakdown The Ethereum chart is printing a clear fractality. That fractal pattern stems from price oscillating between a defined support and resistance line, a hallmark of consolidation where investors are either distributing or accumulating the asset. In Ethereum’s case, the last two instances of this setup resolved as distribution. The asset broke down hard after an extended stretch of trading inside the consolidation range, deepening the losses already on the board.

Source: TradingView A similar outlook is forming now. At the time of writing, and as seen in the area marked with the orange circle, price is carving out the same consolidation pattern. There is no guarantee the phase has run its course, but it raises the question of whether another leg lower is coming. On the previous two occasions this pattern played out, it led to a double-digit percentage loss, with Ethereum first surrendering $3,400 before slipping well below $2,380 and now trading around $1,680.

At press time, candlestick momentum reads positive and price is pushing toward the channel’s resistance. A breakout above that resistance would tilt the outcome bullish, and any follow-through gains could confirm price has entered a bullish phase. A breakdown, by contrast, would raise the odds that the consolidation either extends or resolves lower.

Ethereum Indicators Hint This Rally Could Hold While the fractal pattern warns of a potential decline, Ethereum’s indicators suggest this rally may break the mold. The first clue comes from the Moving Average Convergence Divergence, which has just formed a golden cross. A golden cross prints when the blue MACD line crosses above the orange signal line, signaling that buying momentum is quietly building again. These crossovers often precede major rallies, and in this case one could help power an ETH advance.

Source: TradingView Weighed against prior instances, the January 14 move looks closest to the current formation. Back then the MACD was already bullish, stretching higher with a rising histogram, and price briefly breached the upper resistance. By January 15, though, the asset rolled over into a meltdown, a reminder that momentum alone does not rule out a breakdown. The Money Flow Index adds a more constructive read, pointing to high and rising capital inflows as investors rotate money back into the asset. The MFI is trending firmly upward, a sign of renewed capital and interest in Ethereum.

Conclusion Multiple factors will play a decisive role in swinging Ethereum’s price into its next phase, bullish or bearish, depending on how the current setup resolves. At the time of this analysis, sentiment remains mixed, and it is unclear whether an extended run follows. The fractal pattern’s warning still stands, yet the indicators and capital flows lean the other way, suggesting the market is still leaning bullish.

Frequently Asked Questions (FAQs) What is the fractal pattern warning on Ethereum’s chart?

It is price oscillating between fixed support and resistance, a consolidation phase that resolved as distribution on the last two occasions and preceded sharp declines.

What does the MACD golden cross mean for ETH?

It forms when the MACD line crosses above the signal line, signaling that buying momentum is building. The pattern often precedes a rally, though it can still fail.

Why does the Money Flow Index matter here?

A rising MFI shows capital flowing into the asset, indicating that investors are accumulating and adding weight to the bullish case.

What price levels should traders watch?

The channel’s resistance is the immediate level to watch. A breakout would favor more upside, while a breakdown risks a retest of the $1,700 area and below.

Is Ethereum bullish or bearish right now?

Sentiment is mixed. The fractal pattern warns of downside while indicators and capital flows lean bullish, so a confirmed break of the channel is needed for clarity.

Crypto markets have had plenty to digest today, and this development adds another layer to the picture. Ethereum Institutional Backers Launch Independent Non-Profit to Target Wall Street Wealth gives NewsBTC readers a clean angle on Ethereum at a point where the market is trying to separate durable signals from short-lived noise.

According to the source material reviewed for this report, the story turns on a few concrete details rather than vague sentiment. That matters because crypto headlines can move quickly, but the pieces that tend to last are the ones backed by filings, official releases, data dashboards, or protocol-level records.

TL;DR

Ethereum co-founder Joseph Lubin, alongside ETH treasury firms BitMine and SharpLink, backed the launch of 'Ethereum Institutional'. The new group is an independent non-profit designed to serve as a 'front door' for Wall Street banks and asset managers on tokenization and stablecoins. This organization aims to take over business development roles from the Ethereum Foundation, which is focusing more on core research. A Fresh Signal For The Market The immediate relevance is that this development fits into one of the market’s main themes for the day: institutional positioning, network usage, regulatory pressure, protocol development, or asset-specific rotation. In this case, the key topic is Ethereum, which is why it deserves a dedicated read rather than being buried inside a broader market recap.

For traders, the useful part is not simply that the headline exists. It is the way the facts line up with the current market backdrop. When official sources, market data, or protocol records show a fresh shift, readers get a better sense of whether the move is just a one-day reaction or part of something more structural.

The Numbers That Matter The core source for this story is prnewswire.com with supporting data from globenewswire.com. That source trail is important because the final article should not rely on discovery-only media links or second-hand summaries.

Ethereum co-founder Joseph Lubin, alongside ETH treasury firms BitMine and SharpLink, backed the launch of 'Ethereum Institutional'.

The new group is an independent non-profit designed to serve as a 'front door' for Wall Street banks and asset managers on tokenization and stablecoins.

This organization aims to take over business development roles from the Ethereum Foundation, which is focusing more on core research.

The numerical claims in the pack were tied back to specific source material before writing. 'July 1, 2026' sourced from Ethereum Institutional official launch release date

The Important Caveat The caution is just as important as the headline. Do not state this is an official Ethereum Foundation spin-off; it is a separate non-profit.

That means the cleaner read is to treat this as a confirmed development with a defined scope, not as proof of a guaranteed price move or a sweeping market shift. In crypto, the difference matters. A verified data point can strengthen a thesis, but it does not remove execution risk, liquidity risk, regulatory uncertainty, or the possibility that traders fade the initial reaction.

For now, the story gives the market another piece of evidence to weigh. If follow-up filings, dashboard updates, protocol records, or official statements confirm further momentum, the angle can develop into something larger. If not, it still stands as a useful snapshot of where activity is concentrating today.

This report is based on information from prnewswire.com and globenewswire.com.

This article was written by the News Desk and edited by Samuel Rae.

The Ethereum Foundation published a policy guide on July 1, positioning Ethereum as neutral public infrastructure for governments and institutions. The document, prepared by the foundation’s Global Policy Strategy Team, frames Ethereum as a decentralized alternative to the centralized digital systems that many governments currently rely on for payments, identity verification, and record-keeping.

$76 Billion in Staked ETH as a Security Argument The guide cites an OpenZeppelin analysis showing approximately $76 billion in staked ETH securing the Ethereum network as of March 2026. 

It would cost roughly $50.7 billion to finalize a fraudulent transaction on the network, excluding automatic slashing penalties, according to a Cryptopolitan report. The foundation contrasts Ethereum’s continuous uptime since its 2015 launch with that of other layer-1 blockchains reviewed in the OpenZeppelin analysis. 

Binance Smart Chain, XRP Ledger, Tron, Solana, and Canton each experienced between one and seven outages and had comparatively few economic deterrents to attack, the report found.  Ethereum’s validator set is globally distributed across nations and legal systems, with no single country controlling a majority share. 

“Ethereum is a decentralized ecosystem that functions through the activity of a large, diverse, and global group of stakeholders,” the guide stated. “That breadth of participation is one of the things that makes Ethereum so secure, which in turn is what makes it the top choice for institutions, enterprises, and the public sector.”

From Investment Asset to Digital Infrastructure Ethereum has historically been discussed as the second-largest cryptocurrency by market capitalization. The foundation is now framing it as foundational digital infrastructure comparable to the internet’s base protocols. 

That rebranding could influence how regulators worldwide classify public blockchains and the tokens that operate on them. The guide highlights sovereign governments already using Ethereum-based solutions. Argentina and Bhutan have built decentralized identity systems on the network.

 Indian authorities are testing Ethereum-based land registries to reduce property fraud in title transfers. The foundation encourages lawmakers to define a clear distinction between public blockchains open to anyone and those controlled by a single organization or foundation.

Timed With a Foundation Restructuring The policy guide arrives alongside a structural overhaul at the Ethereum Foundation. The organization cut roughly 20% of its workforce and created an “institutional layer” cluster focused specifically on government and enterprise engagement. A separate nonprofit, Ethereum Institutional, also launched this week with backing from key ecosystem participants.

If governments begin adopting Ethereum as public infrastructure, the regulatory clarity it would generate would extend well beyond Ethereum itself. The precedent would shape how all public blockchains are classified, potentially accelerating institutional investment across the broader digital asset market.

The guide cites independent security audits and uptime data while noting that one unnamed layer-1 blockchain had an organization controlling about 42% of the token supply, a trait that institutions would typically need to disclose and mitigate.

The foundation’s next test is whether this guide moves from policy paper to government procurement shortlist, a process that typically takes years rather than months.

SEC FILLINGS: 8-K - Grayscale Ethereum Staking ETF (0001725210) (Filer)

Why Does Ondo’s New Launch Matter? Ondo Finance expanded its U.S. tokenized securities business on Thursday with the launch of tokenized versions of BlackRock’s iShares Core S&P 500 ETF and Micron shares under a third-party custodial framework described by the Securities and Exchange Commission in January.

The launch gives Ondo a larger U.S. footprint in the market for tokenized real-world assets, a category that has grown as asset managers, brokers, and blockchain firms test ways to move conventional financial products onto public networks without moving outside existing securities rules.

According to Ondo, the products mark the first time a third party has tokenized U.S.-listed securities on a public blockchain while operating within the existing U.S. regulatory and market infrastructure. The company said earlier tokenized securities models were generally built offshore or relied on issuer-by-issuer sponsorship.

The distinction is important. Tokenized stocks and ETFs have often been treated as a regulatory gray area when they sit outside the U.S. framework or rely on synthetic structures. Ondo is trying to place the product inside the conventional custody and transfer-agent model while using blockchain rails for token issuance and ownership records.

How Does The Custodial Model Work? The SEC’s January guidance described a structure in which a third party holds the underlying securities and issues crypto assets representing an investor’s entitlement to those holdings. Ondo said its tokenized IVV and Micron products are built around that model.

Under the structure, the underlying shares remain inside the standard U.S. custody chain. Oasis Pro TA, Ondo’s SEC-registered transfer agent subsidiary, mints corresponding tokens backed 1:1 by the securities. The tokens are issued on Ethereum and held by regulated custodians, according to the company.

That design keeps the legal and custody layer close to existing market plumbing. Investors are not simply receiving an offshore token that tracks a stock price. They are receiving a blockchain-based representation tied to securities held through regulated infrastructure.

Ondo said token holders receive the same shareholder rights and protections available through traditional brokerage accounts, including issuer communications and onchain proxy voting through Broadridge’s ProxyVote.com platform. Transfer restrictions are handled by participating broker-dealers, transfer agents, and custodians in line with existing regulatory requirements.

Investor Takeaway Ondo’s launch is not only a product rollout. It is a test of whether tokenized equities can be structured inside U.S. custody, transfer-agent, and shareholder-rights systems instead of relying on offshore wrappers or looser synthetic exposure.

Why Are IVV and Micron Useful Test Assets? The choice of BlackRock’s IVV ETF and Micron shares gives Ondo 2 different use cases. IVV is a broad-market ETF tied to the S&P 500, making it a natural test for tokenized exposure to diversified U.S. equity markets. Micron offers a single-stock example in a sector closely watched by investors because of artificial intelligence, memory chips, and semiconductor cycle exposure.

By launching both an ETF and an individual stock, Ondo can show how the same infrastructure may apply across different types of listed securities. That matters for brokers and custodians because tokenized securities will need consistent controls around eligibility, settlement, shareholder communications, restrictions, and corporate actions.

The structure also gives institutional users a clearer framework for assessing risk. A 1:1 backing model tied to conventional custody may be easier to review than offshore tokenized stock products, especially for firms that need to document custody treatment, investor rights, and regulatory controls before offering access to clients.

“Today’s milestone shows we can tokenize securities in ways that meet both market and regulatory requirements, for U.S. and global investors and provides a strong foundation for our expanding access to onchain investments for more U.S. investors,” Ondo Finance CEO Ian De Bode said.

What Does This Mean For Tokenized Equities? Ondo’s launch comes as tokenized equities are becoming a larger part of the real-world asset market. The company’s Global Markets platform outside the U.S. supports more than $1 billion in tokenized securities across more than 430 stocks and ETFs, according to Ondo.

The firm has also expanded distribution. In June, Ondo partnered with Exodus to launch Exodus Markets, giving eligible users access to more than 200 tokenized stocks, ETFs, and real-world assets through the Exodus app on Solana.

The broader tokenized equities sector reached a market capitalization of $5.5 billion as of June 8, up roughly 147% from $2.23 billion at the start of the year. That makes tokenized equities the fourth-largest segment within the real-world asset market.

The next test is whether U.S.-compliant tokenized securities can move beyond pilot-style launches and attract meaningful usage from brokers, advisers, custodians, and institutional investors. The market already has demand for onchain exposure to traditional assets. The harder part is building products that regulators, transfer agents, and market intermediaries can support without weakening investor protections.

Ondo’s launch does not settle every question around tokenized equities. Liquidity, distribution, trading access, tax treatment, and platform eligibility still matter. But by using a third-party custodial model tied to U.S.-listed securities, the company is pushing tokenized equities closer to regulated market infrastructure rather than treating them as a separate offshore product category.

The firm used the SEC’s January custodial model to put a BlackRock S&P 500 ETF and Micron shares on Ethereum, though the tokens are not yet available to US investors.

Posted July 2, 2026 at 8:12 pm EST.

Ondo Finance on Thursday launched what it billed as the first live tokenized U.S. securities operating entirely within the country’s existing regulatory perimeter, putting BlackRock’s iShares Core S&P 500 ETF and Micron shares onchain on Ethereum.

Tokenized versions of American stocks have circulated for a while, but they have typically traded offshore or leaned on the security’s own issuer to sponsor the token, leaving compliant U.S. products thin on the ground. Ondo instead follows a custodial model the SEC laid out in a January statement: a regulated third party holds the underlying shares in the traditional U.S. custody chain, while a registered transfer agent issues blockchain tokens representing a holder’s entitlement to them.

Ondo mints those tokens through Oasis Pro TA, an SEC-registered transfer agent and Ondo subsidiary, backing each one-for-one with the custodied securities. Its partner Broadridge Financial Solutions supplies proxy voting, issuer communications, and regulatory disclosures, so holders get governance rights rather than bare price exposure.

Ian De Bode, CEO of Ondo Finance, said in the announcement: “Tokenized Securities in the U.S. are too often framed as a binary choice between competing models and tokenization providers. This is a false premise. Ondo has built the regulatory, product, and service infrastructure to support all major models within the United States.”

One notable limit sits under the milestone: the product is not yet available to U.S. investors, despite being built around the U.S. framework.

Ondo already runs one of the larger tokenization operations outside the country. Its Ondo Global Markets platform holds more than $1 billion in tokenized stocks and ETFs across 430-plus securities and recently expanded to BNB Chain for non-U.S. users. Separately, the SEC earlier dropped a Biden-era investigation into the firm.

Doug DeSchutter, president of Broadridge’s Investor Communication Solutions business, said in the announcement: “Tokenization will only scale when it delivers both innovation and investor confidence.”

Related Listen: Why Authorities Can’t Freeze Crypto Fast Enough: DEX in the City

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.

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.

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Since falling to $1,510, Ethereum has traded within a narrow range. Over the past week, the altcoin has hovered around $1,600.

At the time of writing, Ethereum [ETH] traded at $1,622, up 2.8% over the past 24 hours. The muted price action prompted some investors to reduce exposure, while others waited for a clearer trend.

Why did an Ethereum whale move $26 million? Ethereum has barely moved over the past week, leaving whales that accumulated in May and June sitting on unrealized losses.

As market weakness persisted, some investors became more cautious. One example was Satofashi [Chun Wang], who accumulated 91,945 ETH worth $159.9 million during late May and June.

Source: Arkham When Satofashi accumulated ETH, the asset traded around $2,100, with an average purchase price of $1,749.

According to Lookonchain, the whale later deposited 16,842 ETH worth $26.87 million.

A transfer to an exchange does not necessarily indicate an imminent sale. The funds could also be used for collateral or capital rotation.

If the holdings were sold, the whale would realize a loss of about $2.66 million. However, most of the wallet’s ETH remained untouched, suggesting repositioning rather than a full exit.

Source: CryptoQuant That move coincided with broader exchange inflows.

According to CryptoQuant, Exchange Netflow remained positive over the past two days. At press time, Exchange Netflow stood at 14,000, indicating more ETH moved onto exchanges than left them.

Is ETH finding stability, though? Despite persistent market weakness, Ethereum continued holding around the $1,600 level. Notably, the reported whale transfer had little immediate impact on price.

Meanwhile, the MACD remained below zero but formed a bullish crossover, rising to -64.

Source: TradingView The improving MACD suggested bearish momentum continued easing. The BvB indicator also turned positive for two consecutive days after remaining negative for seven straight sessions.

Together, those indicators pointed to gradually improving momentum rather than a confirmed bullish reversal.

If that trend continues, Ethereum could extend its recovery toward $1,777.

Even so, sustained exchange inflows, particularly from large holders, could increase selling pressure and expose the $1,500 support again.

Final Summary A $26.87 million whale transfer failed to trigger immediate weakness in Ethereum’s price. Improving momentum indicators contrasted with rising exchange inflows, leaving ETH at a key decision point.

SEC FILLINGS: 8-K - Grayscale Dogecoin Trust ETF (0002055510) (Filer)

SEC FILLINGS: 8-K - Grayscale Ethereum Classic Trust (ETC) (0001705181) (Filer)

In brief The Treasury Department sanctioned 134 crypto wallets tied to ISIS-K, including 131 on Tron. Chainalysis said the sanctioned Tron wallets received over $1.4 million since 2023. The sanctions come as Tron founder Justin Sun remains embroiled in a legal battle with the Trump family's World Liberty Financial. The U.S. Treasury Department sanctioned more than 130 cryptocurrency wallet addresses this week tied to ISIS, with the overwhelming majority operating on the Tron blockchain.

The Treasury Department's Office of Foreign Assets Control (OFAC) added 134 crypto wallets to existing sanctions on ISIS-K, the Islamic State's affiliate operating in Afghanistan, Pakistan, and Central Asia. Of those addresses, 131 were on Tron and three on Monero.

The sanctioned Tron addresses have received more than $1.4 million since 2023 and sent over $880,000 during that period, according to blockchain analytics firm Chainalysis. The firm noted that stablecoin issuer Tether has frozen balances affiliated with all 131 sanctioned Tron wallets.

ISIS-K's media arm, the al-Azaim Media Foundation, has historically solicited cryptocurrency donations through websites and messaging platforms. Several of the newly sanctioned wallets sent crypto to Syria-based exchanges, Chainalysis said.

Tron, founded by crypto entrepreneur Justin Sun, has a long history of usage by entities sanctioned or otherwise targeted by the U.S. government. Earlier this year, Tether froze $344 million worth of USDT in Tron wallets flagged by federal authorities as having connections to illicit activity.  

This week’s new ISIS-related Tron sanctions come as Sun's relationship with President Donald Trump’s family—once rosy—has sharply deteriorated. Once among the largest financial backers of the Trump family's crypto ambitions, Sun sued the family’s crypto platform World Liberty Financial in April, alleging the company unlawfully froze his tokens and stripped him of governance rights.

World Liberty has since countersued for defamation, accusing Sun of orchestrating a campaign to suppress the token's price and then defaming the company after his assets were frozen.

In a separate action Wednesday, OFAC also sanctioned two Brazilian nationals and four companies tied to the criminal organization Primeiro Comando da Capital (PCC), alleging they used crypto to move more than $30 million in drug trafficking proceeds, generated in the United States, back to Brazil.

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Source: Binance EN

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Eligible Altcoin Trading Pair(s) Trading pair(s): XLM/USDT, XLM/USDC How to Participate: Click the [Join Now] button on the landing page to register.Total Trading Volume reaches at least 500 USD equivalent in any of the aforementioned eligible pair(s) on Binance Spot during the Promotion Period. Users who do not meet this threshold will not qualify for any reward under this Trading Volume Tournament. Main Reward Structure: Statistical Period: 2026-07-02 10:00 (UTC) to 2026-07-09 10:00 (UTC)Rankings Based on the Cumulative Trading VolumeReward per Eligible Participant (in BNB Token Vouchers)1st Place15 BNB2nd Place12.5 BNB3rd Place10 BNB4th Place7.5 BNB5th Place5 BNB6th - 20th PlacesAn equal split of 50 BNB21st - 50th PlacesAn equal split of 50 BNB51st - 200th PlacesAn equal split of 80 BNB201st - 1,000th PlacesAn equal split of 70 BNBAll Remaining Eligible ParticipantsAn equal split of 100 BNB, capped at 0.01 BNB per user Sprint Reward Structure: Binance is introducing a “Sprint Reward”. For a limited period, users will receive extra rewards based on their ranking by cumulative trading volume. The more one trades during the respective Statistical Periods, the higher the extra rewards can be. Please note that users can earn from both the "Sprint Reward" and the "Main Reward" pools at the same time. Rankings Based on the Cumulative Trading VolumeRound 1 Statistical Period: 2026-07-02 10:00 (UTC) to 2026-07-04 10:00 (UTC)Round 2 Statistical Period: 2026-07-04 10:01 (UTC) to 2026-07-06 10:00 (UTC)Reward per Eligible Participant (in BNB Token Vouchers)1st Place15 BNB15 BNB2nd Place12.5 BNB12.5 BNB3rd Place10 BNB10 BNB4th Place7.5 BNB7.5 BNB5th Place5 BNB5 BNB Promotion Rules: Trading volume of any zero-fee trading pairs is excluded from the final trading volume calculation.Transaction or gas fees will be excluded from the final trading volume calculation for the tournament.All eligible buy and sell orders will be counted towards the cumulative total trading volume.Token vouchers will be distributed to winners by 2026-07-23, and will expire within 21 days after distribution. Users will be able to login and redeem their token voucher rewards via Profile > Rewards Hub.The Spot Trading Volume leaderboard is updated at least once every 24 hours. The Main Reward leaderboard and Sprint Reward leaderboard will be displayed on the separate Sub-Spot landing page respectively. Data sync times vary daily but will always be completed by the end of the day.Only users who have met the minimum qualifying trading volume threshold will be displayed on the leaderboard along with their trading volume. Don’t miss out on this opportunity and share in the rewards now! To view more promotions for new listings on Binance, stay tuned to this page for the latest updates and exclusive opportunities. Guides & Related Materials: How to Spot Trade (App / Web) Terms & Conditions: These terms and conditions (“Activity Terms”) govern users’ participation in the activity above (“Activity”). 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In the case of any inconsistency or conflict between these Activity Terms, and any other incorporated terms, the provisions of these Activity Terms shall prevail, followed by the following in this order of precedence, and to the extent of such conflict: (a) Binance Terms and Conditions for Prize Promotions; (b) Binance Terms of Use; and (c) Binance Privacy Notice.Only verified users who complete the aforementioned criteria for the tournament by the end of the Promotion Period may receive rewards.This Trading Volume Tournament is available to verified new, regular and VIP users enabled for Binance Spot Trading, subject to product (and where relevant, deposit methods’) availability in users’ regions, and may be restricted in certain jurisdictions or regions, or to certain users, due to legal and regulatory requirements.Reward Distribution:All token voucher rewards will be distributed to eligible, winning users by 2026-07-23.Users will be able to login and redeem their token voucher rewards via Profile > Rewards Hub. All token voucher rewards will expire within 21 days after distribution. Winning users should claim their vouchers before the expiration date, and no replacement reward will be provided. Learn how to redeem a Binance voucher.Please note that the actual value of rewards received by a user is subject to change due to market fluctuation.Token voucher rewards are subject to additional terms and conditions.Rewards are not negotiable nor transferable.Once the available rewards have been allocated to users, no further rewards will be provided notwithstanding that an eligible user may have completed the missions.A user’s trading volume in this Trading Volume Tournament will be calculated after the user has opted-in and will be based on the trading volume (i) in their master and sub-accounts, and (ii) on all Spot products, including Spot Trading, Spot Copy Trading and Trading Bots. API trades are allowed. Binance’s calculation of a user’s trading volume is final.Binance reserves the right to disqualify a user’s reward eligibility if the account is involved in any dishonest behavior (e.g., wash trading, illegally bulk account registrations/logins, self dealing, or market manipulation). Binance further reserves the right to disqualify any participants who tamper with Binance program code, or interfere with the operation of Binance program code with other software. 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MemeCore (M) rebounds nearly 150% this week and trades at $1.66 after its treasury announced a buyback worth more than $10 million.

The token collapsed 76% on June 25 and briefly traded near $0.50. Weekly and daily charts now show the recovery pressing into resistance zones that could decide the next major move.

MemeCore Weekly Price Chart. Source: CoinGeckoA $10 Million Buyback Answers the 76% CrashMemeCore’s M token fell from $2.66 to an intraday low of $0.50 on June 25, a crash that pushed its market cap from around $3.5 billion to $903 million. The selloff arrived without any confirmed catalyst.

Onchain investigator ZachXBT connected the collapse to structural weaknesses he had flagged months earlier. He cited less than $100,000 in onchain liquidity on BNB Chain against a market cap still near $900 million.

“Myself, Mlm, & Wazz previously highlighted a number of red flags on X about MemeCore with inorganic supply concentration and deceptive practices by its team to boost user numbers,” he said on Telegram.

Meanwhile, trader Ash Crypto estimated that the selloff liquidated around $8 million in long positions. MemeCore responded days later with a treasury buyback worth more than $10 million, as trader rapperr111 noted on X.

The team stated that an internal investigation found no protocol or infrastructure issues. It also denied any selling by the team or foundation and attributed the crash to a single large market sell order. This explanation has not been independently verified.

The announcement coincided with the start of the recovery. M has since climbed back to rank 40 by market cap after falling to 72 during the crash.

Another day, Another scam.

MemeCore $M crashed -85% in the last 24 hours, wiping out $2.7 billion in market cap and liquidating $8 million in longs.

Reasons:

– According to reports, an estimated 99% of the supply is held by insiders, making the float smaller.

– This makes it… pic.twitter.com/Zky9i92UWv

— Ash Crypto (@AshCrypto) June 25, 2026 MemeCore Rebound Holds the Key Weekly Support ZoneThe weekly chart shows the crash candle wicking down to $0.53 before buyers stepped in. Notably, the selloff stopped almost exactly at the support zone between roughly $0.60 and $0.85.

This area acted as resistance from July to August 2025, before the token began its long rally toward the all-time high. Historically, such flipped zones often generate strong demand, and the current bounce fits that pattern.

M weekly chart / Source: TradingviewHowever, the breakdown also destroyed the long-term ascending trendline that had guided M since mid-2025. That trendline now converges with the horizontal supply zone near $1.80, directly above the current price.

The weekly RSI stands at 45, reset from readings above 80 near the April peak. Therefore, a reclaim of $1.80 could open the path toward the next supply zone between $2.80 and $3.00. In contrast, rejection at $1.80 would signal downtrend continuation toward the $0.60 to $0.85 area.

M Price Prediction as the $2.10 Fib Caps the BounceThe daily chart confirms the June 25 breakdown, which cut through the 0.5 Fibonacci retracement at $2.63 on record volume. The decline extended for several sessions and bottomed near $0.41.

Since then, buyers have reclaimed the 0.236 Fib at $1.46. M trades at $1.66 at press time, up 54% in 24 hours, according to BeInCrypto Markets data.

The next target is the 0.382 Fib level at $2.10, which is around 27% above the current price. A breakout there would expose the 0.5 Fib at $2.63, which coincides with the descending trendline drawn from the April 24 all-time high of $4.85. This confluence makes $2.63 the decisive barrier for the entire recovery.

M daily chart. Source: TradingviewMomentum supports the bulls for now. The daily RSI has recovered to 43 after printing oversold readings near 20 during the crash. A previous analysis showed M respecting the same Fibonacci structure in May, before the trend reversed.

On the downside, a break of the 0.236 Fib at $1.46 would invalidate the bullish setup and expose the $0.85 to $0.60 support again. Whether the buyback marks a durable bottom or only a pause in the downtrend now depends on the $2.10 test.

SEC FILLINGS: 8-K - Grayscale Bitcoin Cash Trust (BCH) (0001732409) (Filer)

The working group's final term committed $450,000 in USDC and 72.5 ETH to Ethereum infrastructure projects including Vyper, Argot Collective and Remix Labs before it was wound down.

The ENS DAO Public Goods Working Group has been sunset after four and a half years of funding Ethereum infrastructure, working group lead Simona Pop said on X Thursday morning.

The group's final term committed $450,000 in USDC and 72.5 ETH, worth roughly $123,000 at current prices, across Builder Grants, Strategic Grants and advocacy work, according to Pop and the working group's term 6 report posted to the ENS governance forum. Strategic Grants alone totaled $375,000 USDC in the term, co-funded with the Ethereum Foundation at roughly a 1-to-1.2 ratio.

Recipients included Vyper, the alternate smart-contract language whose deployments secure $2.3 billion in TVL across 23 chains, Argot Collective, the group of 25 former Ethereum Foundation employees now independently maintaining Solidity and Sourcify, and Remix Labs, the team behind the Remix IDE used to deploy more than 12 million contracts.

Pop credited BuidlGuidl founder Austin Griffith with building the rolling, milestone-based platform that let Builder Grants run continuously rather than in seasonal rounds. She framed the closure against ENS's own origin: ENS founder Nick Johnson secured a $1 million grant from the Ethereum Foundation in 2018 to build what became ENS, work that spun out into True Names Ltd.

Pop argued the DAO is walking away from a larger opportunity. ENS holds one of the largest treasuries in crypto and was positioned to become one of the ecosystem's "other heroes," a term Ethereum co-founder Vitalik Buterin has used, she wrote.

The sunset lands amid a broader restructuring of ENS DAO's governance and treasury. The DAO recently opened a temp-check vote on handing treasury and day-to-day authority to the ENS Foundation, following delegate disputes over a separate foundation proposal and a push to dissolve the DAO after Johnson blocked a security council renewal.

No new funding round has been announced to replace the working group's grants pipeline.

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.

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SEC FILLINGS: 8-K - Grayscale Zcash Trust (ZEC) (0001720265) (Filer)