TLDRXRP Ledger Community Flags Fake JPYSC ClaimsJPYSC Remains Limited to SBI VC TradeGet 3 Free Stock Ebooks XRP Ledger validators warned users about fake JPYSC tokens using the stablecoin’s ticker. SBI launched JPYSC on June 24 through SBI VC Trade for account holders only. SBI has not confirmed any JPYSC issuance on the XRP Ledger or other public chains. JPYSC currently cannot move to external wallets or public blockchain networks. SBI said public-chain circulation is ready but still awaits tax and regulatory approval. XRP Ledger (XRPL) validators warned users against fake JPYSC tokens after SBI launched its yen stablecoin. The alert followed claims about a possible XRPL issue. SBI has not confirmed any release.
XRP Ledger Community Flags Fake JPYSC Claims XRPL validator Vet, Hussein Zangana, said SBI has made no public JPYSC issue on XRPL. Therefore, any current JPYSC ticker remains suspicious.
The warning followed the June 24 launch of JPYSC by SBI Holdings through SBI VC Trade. The launch drew attention because SBI has links with Ripple.
Another XRP community member said monitoring tools now track trustlines linked to known SBI addresses. Those systems could help detect official activity later.
Community checks focus on issuer addresses, trustlines, and token metadata on the XRP Ledger. However, validators said users need SBI confirmation before treating any asset as valid.
The alerts target scam tokens that may copy the JPYSC name or ticker. Such tokens can appear quickly on public ledgers because anyone can create assets.
Vet said JPYSC has received no public XRPL announcement from SBI. As a result, he urged users to verify sources before any interaction.
JPYSC Remains Limited to SBI VC Trade SBI launched JPYSC as a yen stablecoin for SBI VC Trade account holders. SBI Shinsei Trust Bank issues the token, while SBI VC Trade distributes it.
The stablecoin came from a joint effort between SBI and Startale Group. It operates as a trust-type electronic payment instrument under Japan’s framework.
SBI said this structure removes the ¥1 million transaction cap applied to some payment products. The company presented JPYSC as a regulated yen stablecoin.
For now, SBI keeps JPYSC inside SBI VC Trade accounts. Users cannot withdraw the token to external wallets or blockchains.
SBI said it has completed technical and operational work for public blockchain circulation. Yet the company still awaits regulatory and tax treatment before transfers.
The company has not named any public chain for JPYSC deployment. Therefore, XRP Ledger links remain unconfirmed despite community speculation.
SBI Chairman and CEO Yoshitaka Kitao called blockchain migration in finance “irreversible.” He described JPYSC as part of Japan’s blockchain finance infrastructure.
Startale founder Sota Watanabe said external wallet transfers are technically ready. He said remaining issues relate mainly to regulation and tax rules.
No SBI statement has connected JPYSC to the XRP Ledger. Community members continue tracking issuer activity while warning users against fake tokens.
XRP is trading just above $1, leaving the token at its weakest price level of the year, but onchain data paints a different picture.
The exchange-held XRP supply continues to fall, Binance withdrawals have exceeded deposits for seven straight days, whale flows are holding positive and spot XRP exchange-traded funds (ETFs) have attracted $243 million in inflows since April.
The improving onchain data points to healthy network positioning, even as XRP continues to search for a price bottom.
XRP supply on exchanges continues to shrinkCrypto analyst Amr Taha noted that Binance's XRP reserve has fallen to its lowest level since March after roughly 100 million XRP left the exchange over the past month. Binance's balance stood at about 2.68 billion XRP on June 25, down from 2.78 billion XRP on May 12, accounting for the largest outflow among major trading platforms.
Other exchanges also posted smaller declines. Upbit's reserve fell to 2.48 billion XRP on June 25 from 2.51 billion XRP on May 31, while Bybit's holdings declined to 82 million XRP from 92 million XRP on June 2. Binance led in absolute outflows, while Bybit recorded the steepest percentage decline.
Taha also highlighted a significant shift in Binance transaction activity. XRP withdrawal transactions have exceeded deposits for seven consecutive days since June 17. The seven-day withdrawal share climbed to 53.8% on June 23, its highest reading since June 2024, while deposits fell to 46.1%, the weakest level since 2024.
XRP daily deposit/withdrawal transactions (%) on Binance. Source: CryptoQuant
The metric tracks transaction count rather than XRP volume. This indicates users are moving coins off Binance more frequently than sending them to the exchange, marking the longest withdrawal-led stretch in roughly a year.
Large XRP holders supported the trend. XRP whale flow on the 90-day moving average has stayed positive throughout the quarter at 5.143 million XRP per day, showing consistent net accumulation by large wallets instead of distribution.
XRP whale flows. Source: CryptoQuant
Institutional demand has also added support. Spot XRP ETFs recorded $2 million in net inflows on June 24, lifting June's total netflows to $31 million. Since April, the total cumulative inflows have reached $243 million.
XRP price approaches a major demand zoneFrom a technical standpoint, the higher-time-frame market structure remains bearish for the altcoin. XRP touched $1.01 on Thursday, its lowest price of 2026, leaving the token close to its first move below $1 since November 2024. The decline has pushed XRP down 43% year-to-date.
The next key area for XRP sits within the fair value gap between $1 and $0.63, an unfilled price gap created during the sharp rally in late 2024 that could attract buying interest if the decline extends in the coming weeks.
Black Swan Capitalist founder Versan Aljarrah continues to focus on the longer-term chart. The analyst said XRP has spent years building a large accumulation range with higher lows on both weekly and monthly timeframes.
XRP/USD, one-month chart analysis by Versan Aljarrah. Source: X
Aljarrah argued that extended consolidations often produce stronger breakout moves once the price eventually breaks out of the range, with the analyst targeting $10, i.e., a 900% increase from the current price.
This article is produced in accordance with Cointelegraph's Editorial Policy and is intended for informational purposes only. It does not constitute investment advice or recommendations. All investments and trades carry risk; readers are encouraged to conduct independent research.
XRP is trading just above $1, leaving the token at its weakest price level of the year, but onchain data paints a different picture.
The exchange-held XRP supply continues to fall, Binance withdrawals have exceeded deposits for seven straight days, whale flows are holding positive and spot XRP exchange-traded funds (ETFs) have attracted $243 million in inflows since April.
The improving onchain data points to healthy network positioning, even as XRP continues to search for a price bottom.
XRP supply on exchanges continues to shrinkCrypto analyst Amr Taha noted that Binance's XRP reserve has fallen to its lowest level since March after roughly 100 million XRP left the exchange over the past month. Binance's balance stood at about 2.68 billion XRP on June 25, down from 2.78 billion XRP on May 12, accounting for the largest outflow among major trading platforms.
Other exchanges also posted smaller declines. Upbit's reserve fell to 2.48 billion XRP on June 25 from 2.51 billion XRP on May 31, while Bybit's holdings declined to 82 million XRP from 92 million XRP on June 2. Binance led in absolute outflows, while Bybit recorded the steepest percentage decline.
Taha also highlighted a significant shift in Binance transaction activity. XRP withdrawal transactions have exceeded deposits for seven consecutive days since June 17. The seven-day withdrawal share climbed to 53.8% on June 23, its highest reading since June 2024, while deposits fell to 46.1%, the weakest level since 2024.
XRP daily deposit/withdrawal transactions (%) on Binance. Source: CryptoQuant
The metric tracks transaction count rather than XRP volume. This indicates users are moving coins off Binance more frequently than sending them to the exchange, marking the longest withdrawal-led stretch in roughly a year.
Large XRP holders supported the trend. XRP whale flow on the 90-day moving average has stayed positive throughout the quarter at 5.143 million XRP per day, showing consistent net accumulation by large wallets instead of distribution.
XRP whale flows. Source: CryptoQuant
Institutional demand has also added support. Spot XRP ETFs recorded $2 million in net inflows on June 24, lifting June's total netflows to $31 million. Since April, the total cumulative inflows have reached $243 million.
XRP price approaches a major demand zoneFrom a technical standpoint, the higher-time-frame market structure remains bearish for the altcoin. XRP touched $1.01 on Thursday, its lowest price of 2026, leaving the token close to its first move below $1 since November 2024. The decline has pushed XRP down 43% year-to-date.
The next key area for XRP sits within the fair value gap between $1 and $0.63, an unfilled price gap created during the sharp rally in late 2024 that could attract buying interest if the decline extends in the coming weeks.
Black Swan Capitalist founder Versan Aljarrah continues to focus on the longer-term chart. The analyst said XRP has spent years building a large accumulation range with higher lows on both weekly and monthly timeframes.
XRP/USD, one-month chart analysis by Versan Aljarrah. Source: X
Aljarrah argued that extended consolidations often produce stronger breakout moves once the price eventually breaks out of the range, with the analyst targeting $10, i.e., a 900% increase from the current price.
This article is produced in accordance with Cointelegraph's Editorial Policy and is intended for informational purposes only. It does not constitute investment advice or recommendations. All investments and trades carry risk; readers are encouraged to conduct independent research.
XRP (CRYPTO: XRP) is approaching the psychologically important $1 support as pro-XRP lawyer Bill Morgan argues Ripple is releasing tokens from escrow too slowly.
Why Morgan Wants Ripple To Speed Up Escrow ReleasesRipple locked 55 billion XRP into escrow back in 2017 to give the market predictable visibility into future supply.
One billion XRP unlocks on the first of every month, and Ripple decides how much to deploy versus re-lock into new escrow contracts at the back of the queue.
After the June 1 unlock, roughly 61.85 billion XRP sits in circulation against 38.15 billion still locked, a pace some estimates suggest could take nearly nine years to fully distribute.
“Ripple should release more of the 1 billion each month and not lock so much back in escrow,” Morgan wrote on X.
“The sooner it is all released from escrow and the circulating supply is 100%, the quicker XRP will become the best hard money.”
His argument centers on supply transparency, not burning tokens, which Ripple has explicitly rejected. He believes a fully circulating supply removes the pricing uncertainty that scheduled future releases create.
Ripple’s own position has historically favored the opposite approach, framing escrow predictability as a feature that institutional partners specifically value since it lets counterparties model future supply without surprises.
XRP Failed The Same Support Zone TwiceXRP on Thursday wicked below $1.01 before bouncing slightly, breaking decisively through the demand zone between $1.08 and $1.11 that had capped both the June 5 lows and a mid-June test.
Failing that zone for a second time marks a serious structural breakdown rather than a routine dip.
Price is trading well outside the lower Bollinger Band at $1.0487, confirming an extreme, stretched move, while the SAR remains deep overhead at $1.2790.
The descending trendline from May’s $1.55 peak continues to reject every recovery attempt.
XRP sits down 52.64% over the past 12 months, with the November 2025 death cross still fully intact across the 20-day, 50-day, and 200-day moving averages.
Reclaiming the $1.08 to $1.11 zone restarts a recovery attempt toward $1.1398. Losing the $1.00 psychological level opens air toward $0.90, then $0.80.
Image: Shutterstock
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Japanese financial giant SBI Group has announced a significant expansion in its digital asset operations, revealing plans to acquire Bitbank, the country’s third-largest cryptocurrency exchange, for approximately $289 million. The transaction will unfold in multiple stages, culminating with Bitbank merging into SBI’s key crypto platform, SBI VC Trade.
Acquisition to proceed in phasesAccording to the plan released by SBI, an affiliate under the umbrella of SBI Holdings will first buy back Bitbank shares from individual stakeholders, including the exchange’s founder. Following this, Bitbank is set to acquire shares from institutional partners MIXI and Ceres by the end of October.
Bitbank has established itself as one of the leading crypto exchanges in Japan’s digital asset landscape. Meanwhile, SBI Group acts as a major financial institution in the country, with a broad portfolio spanning banking, securities, insurance, and digital assets.
Industry leadership targeted post-mergerOnce the acquisition and merger are completed, SBI Group intends to combine Bitbank with SBI VC Trade. This integration is expected to bring the combined number of customer accounts to over 2.9 million, with total assets under custody projected to reach approximately 1.1 trillion yen.
After the merger between Bitbank and SBI VC Trade, the customer base is anticipated to surpass 2.9 million and assets under management are forecast to climb to nearly 1.1 trillion yen.
If achieved, these figures would make the new entity the largest player in Japan’s crypto market. For context, bitFlyer currently oversees assets worth around 960 billion yen, while Coincheck manages about 800 billion yen. Reports also indicate that other major players like Binance Japan and Rakuten Wallet may fall behind at this scale, despite their robust institutional networks.
Key links to XRP and RLUSDThe deal is drawing particular attention within the XRP community. SBI is known to hold one of the largest XRP reserves outside the United States, making this acquisition and subsequent merger noteworthy in the context of its longstanding ties with Ripple.
Previously, Ripple and SBI Group jointly announced the official launch of RLUSD, a stablecoin subject to stringent regulatory standards. This milestone followed authorization by Japan’s Financial Services Agency. RLUSD is designed for both institutional and retail users, serving as a bridge for payments, tokenization, and collateral management.
Mini glossary: RLUSD is a stablecoin developed by Ripple that aims to preserve a one-to-one value with fiat currency. Tokenization refers to the process of converting real-world assets or financial rights into digital representations on a blockchain.
The collaboration between Ripple and SBI Group dates back to 2016. As such, this latest integration and acquisition move is seen as the continuation of a long-standing partnership between the two companies.
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.
As selling pressure continues across the cryptocurrency market, XRP is struggling to stabilize just above the critical 1 dollar threshold—a level closely monitored by investors. In an environment where the total global market cap has slipped below 2 trillion dollars due to a widespread downturn, XRP has fallen roughly 4 percent over the past 24 hours, currently trading near 1.03 dollars.
Key support emerges on the monthly chartA look at longer timeframes tells a different story than the short-term focus on 1 dollar. According to TradingView data, the Bollinger Bands now suggest the main support zone for XRP has shifted down to 0.91 dollars. This scenario indicates the psychological power around the 1 dollar mark has weakened, putting more emphasis on the technical levels that have formed over the monthly chart.
Mini glossary: Bollinger Bands are a technical indicator used to trace price volatility and identify potential support and resistance areas. The lower band often acts as the boundary prices may touch during sharp selloffs.
XRP—featured in this news—is the digital asset used for cross-border payments within the Ripple ecosystem. The key takeaway from the analysis is that technical boundaries on monthly timeframes may ultimately prove more influential than short-term psychological levels.
The true battleground for XRP appears to be not at 1 dollar, but at the 0.91 dollar level highlighted by the Bollinger Bands on the monthly chart.
Liquidations amplify downward pressureOne of the main forces behind the sharp market movement has been a major wave of liquidations in the derivatives segment. According to CoinGlass data, a total of 1.48 billion dollars’ worth of positions were wiped out during the last daily move. This liquidation wave hit 217,000 traders, with 1.21 billion dollars of those positions coming from the long side.
XRP investors were hit particularly hard. Of the total 39 million dollars in XRP liquidations, a staggering 38.8 million came from bullish positions—making evident just how much buying power weakened during the latest selloff.
IndicatorDataXRP price1.03 dollars24 hour change4 percent dropMonthly chart support0.91 dollarsTotal daily liquidations1.48 billion dollarsXRP liquidations39 million dollarsAnother clear sign of selling pressure came from the actions of a large investor operating with the 0xf79C wallet on Hyperliquid. This trader was forced to close long positions worth 47.7 million dollars in BTC and 28.5 million dollars in XRP, suffering overall losses totaling 8.42 million dollars.
CoinGlass data reveals that nearly all of the 39 million dollars liquidated in XRP came from long positions, highlighting the sharp loss of confidence among buyers.
A move below 1 dollar is on the tableAccording to the analysis, once XRP dropped beneath the mid-range level of 2.05 dollars—previously seen as a key median—the price has geared towards the lower band set at 0.91 dollars, a historically significant volatility boundary. In this context, the current price levels may represent only a temporary support rather than a lasting floor.
If selling continues, falling below the 1 dollar level should not come as a technical surprise. Analysts say such a move would reflect a correction down to the real support area highlighted on the monthly chart, potentially resetting market dynamics for XRP going forward.
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.
Ripple has appeared on the doorsteps of American lawmakers as part of its effort to push the passage of the Clarity Act.
San Francisco-headquartered company, which is known for its association with the XRP cryptocurrency, has launched a mobile campaign in the capital with a branded "Clarity truck" to lobby Congress (as shown in the X post below).
On the road to clarity - literally!
Ripple's Clarity truck is out in D.C. as Congress works on the Clarity Act, which creates clear rules for digital assets and crypto.
Clear rules help protect consumers, support responsible innovation, and keep the U.S. competitive pic.twitter.com/FGdTHVguPl
— Lauren Belive (@BeliveLauren) June 25, 2026 The timing is crucial, given that legislators keep mulling over the major regulatory framework for cryptocurrency.
Lauren Belive, the head of the U.S. Public Policy at Ripple, has quipped that the company is "on the road to clarity—literally!" The exec has stressed that clear crypto rules will be beneficial for consumers and American competitiveness.
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The massive Senate hurdle The passage of the Clarity Act, which aspires to resolve years of regulatory uncertainty, appears to be less likely with each passing day. As of today, Polymarket bettors see only a 43% chance of the bill being signed into law this year.
The Clarity Act cleared the House with strong bipartisan support back in July, but it has struggled to pass the upper chamber.
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Negotiations stalled over unresolved ethics and conflict-of-interest provisions. Senate Democrats were reportedly left frustrated by the lack of cooperation.
Moreover, there are disagreements over DeFi platforms as well as stablecoin yield and rewards (the most contentious issue).
So far, no Senate floor vote has been scheduled. The Republicans have to secure at least seven Democratic votes to overcome a filibuster.
The Senate is scheduled to head to its July 4 recess on June 27.
Analysts view early to mid-August as the practical deadline for the bill to pass the Senate.
Ripple previously supported the imperfect legislative effort despite some opposition from the broader industry, stating that clarity is better than chaos.
June 25, 2026 15:00 ET | Source: Canadian National Railway Company
CALGARY, Alberta, June 25, 2026 (GLOBE NEWSWIRE) -- PlasCred Circular Innovations Inc. (CSE: PLAS) (FSE: XV2) today announced it has entered into a conditional long-term lease agreement with Canadian National Railway Company (CN) for the site of the proposed Plascred Neos project, an advanced recycling facility at CN’s Scotford Yard in Fort Saskatchewan, Alberta.
The term of the lease agreement is subject to certain conditions being met before the current effective date of August 1, 2026. Once in effect, the agreement will provide PlasCred with an initial 15-year lease term, with options for renewal securing up to 30 years of site control within Alberta’s Industrial Heartland.
The leased property comprises approximately 7.34 acres and includes a 35,000-square-foot industrial building and an existing 200-car rail siding. The site will support receipt and storage of mixed plastic waste bales, advanced recycling operations, condensate storage, and direct rail access for shipment of finished products.
Once operational, PlasCred Neos will be able to process up to 100 tonnes of mixed hard-to-recycle plastics per day and convert that material into approximately 500 barrels per day of refined hydrocarbon condensate used in the manufacture of new plastics as well as other industrial applications.
The facility is being developed within Alberta’s Industrial Heartland, one of North America’s largest hydrocarbon processing regions. PlasCred Neos will have direct access to CN’s rail network allowing for great transportation efficiency for both inbound plastic bales and outbound products while reducing new infrastructure requirements.
“Securing the Scotford Yard site is a foundational milestone for Neos,” said Troy Lupul, President and CEO of PlasCred. “This agreement gives us long-term access to strategically located industrial infrastructure and strengthens the logistics platform required to support future growth.”
"CN worked closely with PlasCred to develop the right supply chain and rail logistics strategy for the Neos project," said Buck Rogers, Vice-President, Petroleum and Chemicals at CN. "Our team helped evaluate infrastructure requirements, rail capacity, and market access considerations to create a solution that supports both current operations and future expansion. The initial Scotford Yard site provides PlasCred with access to CN's North American network allowing for a strong foundation ensuring the project's long-term success."
The lease supports PlasCred’s broader commercialization strategy and future expansion plans. The company is currently advancing detailed engineering activities and regulatory processes required to support a final investment decision and construction readiness.
About PlasCred Circular Innovations Inc.
PlasCred is an Alberta-based company developing an advanced plastic recycling facility. The Company’s engineered, modular platform converts mixed plastic waste into refined hydrocarbon condensate for use in virgin plastic production, petrochemical feedstock, and upstream energy applications. For further information on PlasCred, visit our website at www.PlasCred.com.
Forward-looking statements in this release include but are not limited to: the commencement and timing of the lease; satisfaction of the lease conditions; the timing, scope, and cost of constructing the Neos facility; offtake performance; the availability and timing of financing; regulatory approvals; and the Company's phased expansion plans, including the proposed Maximus facility. Forward-looking statements are based on management’s current assumptions and expectations, which are subject to known and unknown risks, uncertainties, and other factors that may cause actual results, performance, or achievements to differ materially from those expressed or implied. Such risks and uncertainties include, without limitation: construction, commissioning, and start-up risks; cost overruns; delays or disruptions in the supply chain; ability to achieve and maintain nameplate capacity at scale; changes in feedstock availability, composition, or pricing; fluctuations in commodity prices and foreign exchange rates; failure of counterparties to perform under offtake, financing, or strategic agreements; changes in applicable laws, regulations, or EPR requirements; inability to secure or maintain permits; adverse changes in market demand for advanced recycling products; evolving ESG reporting standards; technology performance or reliability issues; and general economic, political, and capital market conditions. A discussion of these and other factors that may affect future results is contained in the Company’s continuous disclosure filings available under its profile on SEDAR+ at www.sedarplus.ca. Forward-looking statements are not guarantees of future performance, and readers should not place undue reliance on them. Except as required by applicable securities laws, the Company undertakes no obligation to revise or update any forward-looking statements to reflect new events, circumstances, or otherwise.
The Canadian Securities Exchange (operated by CNSX Markets Inc.) has neither approved nor disapproved of the contents of this press release.
According to the latest market outlook shared by analyst Diana, the key driver for a potential rise in XRP toward the $50 mark is not regulatory developments, but rather whether demand will consistently surpass supply. Diana notes that the longstanding theme of legal uncertainty in the market has lost much of its influence, and that from now on, it is critical to see if new buyers can absorb the amount of XRP entering circulation.
Regulatory concerns take a back seatFor a long time, regulatory uncertainty was seen as the main obstacle facing XRP. The general expectation in the market was that greater legal clarity would boost institutional adoption and deliver a powerful upward effect on the price. However, Diana argues that this period is largely over, and that the primary challenge ahead now relates to how quickly the supply entering the market—driven by investor selling, releases from escrow, and profit-taking—can be matched or exceeded by new demand.
XRP’s future centers on a single question: Can new market demand permanently match or exceed existing supply?
In Diana’s model, the growth process unfolds in three phases: Permission, Propulsion, and Premium. The first phase, Permission, focuses on institutional access. Key elements here include regulatory recognition, custody infrastructure, banking integration, compliance frameworks, and exchange-traded products.
According to Diana, XRP has already cleared several vital hurdles on this front. The analysis highlights recognition as a commodity by the CFTC, assets under management in spot XRP ETFs surpassing $1 billion, and preliminary greenlights from the OCC as notable milestones. Still, outstanding issues remain, including the lack of clarity on the CLARITY Act and the Federal Reserve master account.
Demand and utility take center stage for price trajectoryThe second phase, Propulsion, hinges on direct capital inflows. Growth in ETFs, institutional accumulation, and capital rotation from other assets like Bitcoin play decisive roles in this stage. Diana suggests that, if a substantial portion of the circulating supply is withdrawn from the market and persistent demand on this scale emerges, it could support an XRP price range of $5 to $10.
According to the framework, the next major price cycle in XRP will hinge more on ongoing demand consistently exceeding supply than on regulatory milestones.
Beyond investment-driven inflows, utility-driven demand is expected to come to the fore. Factors such as wider RLUSD adoption, increased activity on the XRP Ledger, corporate balance sheet demand, and rising transaction volumes could create the economic foundation for XRP to fluctuate in the $10 to $15 range.
Glossary: The XRP Ledger refers to the distributed ledger infrastructure underlying XRP’s operations. RLUSD is Ripple’s US dollar-pegged stablecoin initiative and is mentioned as one of the elements driving utility-driven demand in this report.
The most ambitious scenario: a jump to $15–$50The final phase, Premium, presents the most ambitious outlook. In this scenario, for XRP to reach the $15 to $50 range, it would need to acquire a monetary premium similar to gold or Bitcoin, be recognized as a strategic reserve asset, firmly establish itself as a global liquidity solution, and become an integral component of international financial infrastructure.
According to CoinCodex data, XRP was trading at $1.07 when the report was released. Diana’s framework underscores that the future trajectory largely hinges on a single economic equilibrium: if market demand consistently and substantially exceeds the available supply, moving from the Permission to the Propulsion phase could mark the beginning of a new growth cycle for XRP.
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.
XRP briefly touched $1.00 on Thursday before bouncing back, and the crypto community is as divided as it has ever been. One camp says this is the beginning of the end. The other says a historic repricing event is just weeks away. The truth, as it often is in crypto, sits somewhere in the middle and the CLARITY Act may be the moment that starts to clarify which side is closer to right.
The Repricing Argument
Grayscale’s head of research recently outlined a scenario that has been circulating widely among XRP investors. If the CLARITY Act passes and regulatory certainty arrives for digital assets, Grayscale sees a genuine case for XRP to be repriced across the market.
“I think we would see a repricing across a range of assets, certainly including XRP,” the Grayscale executive said, pointing to strong demand for Grayscale’s own XRP product as evidence that institutional interest has not disappeared despite the price weakness.
He added that clarifying questions around XRP’s long-term token supply outlook could unlock additional value, and that reducing future token inflation would have a meaningfully positive effect on price.
The CLARITY Act passed the Senate Banking Committee in May with a bipartisan 15 to 9 vote and is now on the Senate Legislative Calendar awaiting a full floor vote. The White House has been pushing hard for passage before the August recess, which leaves a narrow window of legislative days remaining.
Where XRP Actually Stands
XRP has fallen from $1.70 to $1.00 over recent weeks, a correction that fits the historical pattern of bear market lows in previous cycles. The token has dropped approximately 70% from its all-time high of $3.65, consistent with the 75% drawdowns seen in the 2018 and 2022 bear markets before major recoveries followed.
The current price action reflects a broader market under extreme stress. The Fear and Greed Index sits at 16. Bitcoin is testing multi-month lows below $60,000. Total crypto market cap is approaching the $2 trillion level that many view as critical support. In this environment, XRP holding $1.00 as a psychological floor matters more than it might in calmer conditions.
The Cycle Argument
Veteran crypto analysts who called the October 2025 market top based on four-year cycle timing are now pointing to the same framework to argue that a bottom is forming. Every bull market in Bitcoin’s history has been followed by a 50% to 77% drawdown before the next cycle began. The current drawdown at approximately 51% from the Bitcoin peak sits well within the historical range for a cycle low.
The pattern that preceded previous XRP recoveries is also forming. The 90% of retail investors who bought near the top and are now sitting on losses represent the capitulation phase that historically marks the most attractive entry points. The 10% who accumulate during maximum fear are the ones positioned to benefit when the cycle turns.
What the CLARITY Act Could Mean
The CLARITY Act would establish clear legal boundaries between the SEC and CFTC over digital asset jurisdiction for the first time in American history. For XRP specifically, which spent four years fighting the SEC before winning a landmark ruling that it is not a security, regulatory clarity at the legislative level removes the last remaining legal overhang and opens the door to institutional capital that has been sitting on the sidelines waiting for exactly this kind of certainty.
Whether that translates into an immediate repricing depends entirely on whether Congress delivers before the August recess. The window is narrow. The stakes for XRP and the broader crypto market are significant.
Story Ends Here
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The XRP Ledger ($XRPL) has flipped Ethereum as the primary host for $RLUSD supply for the first time since the stablecoin launched. On-chain data cited by @BSCNews shows $801M in $RLUSD sitting on the XRP Ledger, compared to $795M on Ethereum, marking a narrow but historically significant shift in how Ripple's flagship regulated stablecoin is distributed across networks.
A Long Road to the Top The turnaround has been dramatic. By October 2025, approximately 88% of all RLUSD supply sat on Ethereum, with just $91 million on the XRP Ledger. The gap closed steadily from there. Q1 2026 was the first quarter in which RLUSD grew by more on the XRPL (plus $105.4 million) than on Ethereum (plus $15.2 million), signalling that the momentum had genuinely shifted. By June 2026, XRPL stablecoin supply reached $762M, largely driven by RLUSD, before the latest on-chain figures pushed it past the Ethereum figure for the first time.
The initial Ethereum dominance was driven largely by that network's deeper DeFi ecosystem. Ripple added RLUSD to Aave in 2025, helping boost adoption among Ethereum users, while platforms such as Curve and Morpho also supported RLUSD, giving the stablecoin more visibility and utility. Those integrations kept a large portion of supply anchored on Ethereum for most of the stablecoin's early life.
What Is Driving XRPL's Gain RLUSD's strategic advantage on the XRPL is its integration across Ripple's financial products, which provide immediate access for regulated institutional enterprise use in payments, treasury management, prime brokerage, and custody. This allows RLUSD supply to grow from real institutional demand rather than just exchange liquidity. The majority of RLUSD holders are also on the XRPL, with 46,209 on the network compared to 7,821 on Ethereum at Q1 2026 close.
The broader XRPL ecosystem has also been expanding rapidly. The XRPL closed Q1 2026 with an all-time high real-world asset (RWA) market cap of $2.25 billion, up 124% quarter-over-quarter, making it the seventh largest network by RWA market cap. A key institutional proof point came in May 2026 with a tokenized US Treasury redemption pilot involving Ondo Finance, JPMorgan Kinexys, Mastercard, and Ripple, completing a cross-border transaction in 4.2 seconds.
RLUSD is natively issued on both the XRP Ledger and Ethereum blockchains and is fully backed by a segregated reserve of cash and cash equivalents, redeemable 1:1 for US dollars. The stablecoin is regulated under a New York Department of Financial Services trust charter, a compliance posture that has helped attract institutional counterparties to both chains. Whether XRPL can hold and extend this lead over Ethereum's entrenched DeFi liquidity base remains to be seen, but the milestone itself marks a meaningful shift in how Ripple's native infrastructure is being used.
Sources:
Messari: State of XRP Q1 2026
Ripple: RLUSD Stablecoin Official Page
Yahoo Finance: XRPL Ripple Stablecoin Supply Surges to $762M
So far, 2026 has been an interesting year for crypto VC funding. After dropping significantly in Q1, funding has recovered strongly. In May alone, crypto projects raised over $3.52 billion. Unsurprisingly, the majority of these fundings are being directed to AI-based ventures.
Canopy Network is one such project that successfully attracted investors with its AI pivot. The project has raised $8.5 million in seed funding for its AI-native blockchain development.
The Panama City-based project is developing a framework built to help founders, developers, and coding assistants create onchain applications with far less engineering overhead. The funds will support the mainnet launch, engineering hires, and continued work on developer experience and AI-native tooling.
The company also acquired Tanssi technology, a decentralized protocol for deploying customized apps on blockchains in minutes. Arrington Capital, Fenbushi Capital, Borderless Capital, and SNZ Capital joined Canopy as key stakeholders through the acquisition, bringing more investor backing around the project’s next phase.
AI-Native Development Brings Builders Closer to Launch Canopy is designed to help people build blockchain apps with less technical work.
A founder could describe an app idea, such as a loyalty program, rewards platform, or onchain marketplace, then use Canopy to turn it into working code with help from AI coding tools. The code remains readable, so developers can review, edit, and improve it as the product grows.
Because the output is code, teams can extend or upgrade their applications over time. The same code can be read by human developers, giving founders a faster path from idea to deployed application.
Liposky said Canopy is “opening blockchain development to an entirely new audience of builders.”
Keli Callaghan, Partner at Arrington Capital, said Canopy’s combination of templates, security, interoperability, and a complete development framework gives builders a faster route from idea to launch.
“Builders can move from idea to launch in a fraction of the time,” Callaghan said.
Tanssi Technology The Tanssi acquisition gives Canopy some of the blockchain infrastructure it needs before mainnet.
In simple terms, Tanssi was built to help teams launch their own app-specific blockchains without starting from zero. It gave builders a dashboard to set up a chain, manage tokens, fund block production, and bring the network online from one place.
This was important for Canopy as its pitch depends on speed. AI tools can help generate an app, but the app still needs blockchain infrastructure to run. Tanssi gives Canopy parts of that back-end system, including tools for appchain deployment, block production, and links to Ethereum.
The deal, announced on June 3, 2026, includes Tanssi’s core technology. That covers its appchain control panel, its sequencer system for producing blocks, and its Snowbridge-based Ethereum bridge for cross-chain communication.
Canopy plans to fold this technology into its own development framework. The standalone Tanssi network was expected to wind down over 30 days after the announcement.
Testnet Activity Canopy’s public testnet has produced strong early activity. Builders launched nearly 27,000 projects during the first 12 days, and total launches have since surpassed 331,000.
The numbers point to demand from founders and developers seeking faster ways to create onchain products through AI-assisted tools.
Canopy’s near-term focus is mainnet, while its long-term roadmap centers on an integrated environment where non-technical founders can create, deploy, and upgrade applications from one place.
BlackRock remains affected by the consistent outflows witnessed across both the Bitcoin and Ethereum ETF markets, and has continued to offload large amounts of its holdings.
In a familiar move showcased by blockchain monitoring platform Lookonchain, BlackRock has deposited another 3,410 BTC and 5,132 ETH to Coinbase Prime in multiple transfers spotted on Thursday, June 25.
BlackRock dumps crypto non-stopThe data further revealed that the Bitcoin and Ethereum transfers were worth $209.64 million and $8.43 million, respectively, per the assets' prices at the time of the transactions.
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The total deposits happened in a series of about seven separate transfers, with nearly all of them carrying 300 BTC each, while only one separate transfer moved Ethereum to the Coinbase wallet.
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While this transfer happened at a time when the broader crypto market is facing downside pressure, market watchers fear that the move from BlackRock could further fuel the ongoing volatility.
Did BlackRock actually sell?Although BlackRock did not clarify the reason it has continued to offload large stashes of its Bitcoin and Ethereum holdings on Coinbase, the transfers have triggered speculation across the market, with traders interpreting them as potential attempts to sell.
It is important to note that deposits to Coinbase Prime or other crypto exchanges do not necessarily confirm an immediate sale. However, investors have become suspicious of BlackRock's frequent deposits, as the timing of the transfers has intensified concerns and signals that BlackRock might actually be selling.
This is more apparent, as the company has been found to sell only when its ETF products record withdrawals during their daily trading sessions.
Many altcoins have collapsed by up to 5% in the past hour alone.
It’s another painful day in the cryptocurrency markets, especially for the altcoins. Ethereum, which traded at roughly $1,800 just over a week ago, tumbled toward $1,500, but it’s yet to break its negative June record, at least for now.
In contrast, Ripple’s XRP has been at the forefront of the latest declines. The token plunged to just over $1.00 minutes ago, which became its lowest price tag since late 2024.
Analysts, even those who have been predominantly bullish on XRP’s future price trajectory, have warned that the asset could unravel if it decisively loses the psychologically important $1.00 level.
CasiTrades, for example, warned that the token could drop to a low of $0.87 before it rebounds. Ali Martinez was even more bearish, outlining targets of below $0.70 and all the way down to $0.15 in a very extreme scenario.
Many other altcoins have posted similar losses in the past hour alone. SOL is down by over 3.5%, ZEC has plunged by 4%, while ADA is close to breaking below $0.14 after a 3.7% drop.
Naturally, the liquidations have skyrocketed given this enhanced volatility, especially since BTC broke below $59,000 and plummeted to $58,000.
Expectedly, BTC is responsible for the lion’s share. Over $320 million worth of longs have been wiped out in the past hour alone. ETH follows suit with nearly $140 million, while XRP is third with just over $40 million – all from longs.
You may also like: Déjà Vu: Bitcoin Tumbles Below $59K as Strategy’s MSTR Crumbles Again Prediction: Bitcoin Could Bottom Between $42K and $44K This Year Brutal Bitcoin Liquidation Cascade Imminent Below $59K, Warns Analyst In total, the liquidations are up to $630 million in the past hour, and $600 million is from longs. The total value for the past day is $1.5 billion, with $1.22 billion from longs.
Binance will delist the IPUSDT and IPUSDC USDT-margined perpetual contracts due to the rebranding of the Story brand.
Per an official announcement, following the rebranding of the Story (IP) brand to Data Network, Binance will automatically liquidate IPUSDT and IPUSDC U-margined perpetual contracts at 17:00 CST (UTC+8) on June 28, 2026, and remove these perpetual contract trading pairs after liquidation concludes. Users are advised to close their positions voluntarily before trading is suspended to avoid automatic settlement of their positions. Starting from 16:30 CST (UTC+8) on June 28, 2026, users will no longer be able to submit new non-reduce-only orders for the aforementioned perpetual contracts. A separate announcement will be released when the new contract goes live.
2 hours ago
Sources: Israeli military withdrawal from Lebanon is an important "red line" for Iran.
Local time on June 25, a source close to the negotiation team said that Israel's withdrawal from Lebanese territory is one of the conditions for a final Iran-US agreement, and is regarded as an important "red line" by Iran's negotiation team. The source further stated that the final memorandum of understanding will guarantee Lebanon's sovereignty and territorial integrity. The agreement text previously reached in Switzerland already emphasized a "conflict resolution mechanism" that is participated in and uniformly implemented by Iran. Iran is currently following up on the specific implementation timeline. (CCTV)
2 hours ago
Apple's stock price fell by 6%, marking its largest decline since April 2025.
According to Bitget's market data, Apple's stock price fell by 6%, marking its largest decline since April 2025.
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Analyst: Bitcoin falls below $60,000, but institutions and whales are not continuing to bet on further declines.
Greeks.live macro researcher Adam posted on X: "Tomorrow is the quarterly expiry, and Bitcoin has dipped below $60,000. As seen in the GEX chart, $60,000 is clearly the highest open interest price point. Meanwhile, large positions are also starting to accumulate at $58,000 and $59,000, signaling rising market risk. Institutional investors and major holders have not continued to bet on a downward move; they are just waiting for the expiry."
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TD Cowen Analyst: SpaceX May Acquire T-Mobile
TD Cowen analysts said SpaceX could acquire T-Mobile to accelerate its wireless communication ambitions if a network sharing agreement cannot be reached. The report points to Starlink’s existing partnership with T-Mobile US as a strategic fit. This idea is purely speculative, but it underscores the growing competitive pressure the space exploration firm faces in the telecom industry.
Ethereum bearish structure extended. The altcoin breached the $1.7k support and fell below $1.6k, to a low of $1.5k before rebounding.
ETH last dropped to such levels two weeks ago, erasing even the slightest gains made in June. As of this writing, Ethereum traded at $1651, down 1.68%, adding to its 4% weekly decline.
With Ethereum experiencing a strong downtrend, it seems some whales have not only panicked but also capitulated.
Ethereum whales dump 19,441 ETH for $31 million As Ethereum dropped to $1.5k, whales reduced their exposure to manage their losses. According to Arkham data, a whale deposited 6,855.13 ETH into Binance worth $11.02 million.
These tokens were accumulated in February and March this year at an average price of $1,991. At press time, ETH traded significantly below its purchasing price.
Therefore, exiting at the current levels, the whale will take a $2.62 million loss. The whale selling at a loss signals a lack of market confidence and fears of more losses.
Source: Arkham Additionally, another whale returned after six years of dormancy and began selling his ETH holdings.
An Ethereum ICO participant returned after six years and began selling. Arkham data showed that the whale has sold 12,586 ETH for $20.59 million at an average price of $1,636.
The address still holds 15,000 ETH worth $24.29 million and is likely to continue selling. Combined, these two whales dumped 19,441 ETH worth approximately $31.6 million.
Market under intense pressure With Ethereum whales aggressively dumping, their sell-side activity is heavily felt in the market. On the 24th of June, for example, Exchange Netflow skyrocketed to 90.3k then dropped to -20k at press time.
Source: CryptoQuant The jump in Netflow suggested that a significant number of traders deposited their assets to sell. As a result, the supply available for immediate selling ballooned.
According to Cryptoquant data, Ethereum’s Exchange Supply Ratio climbed to a three-week high of 0.124. A rising ESR implies reduced scarcity, a clear sign of increased selling activity.
Source: CryptoQuant Historically, such market behavior has preceded a market downturn, leading to further losses. In fact, the altcoin’s Relative Strength Index [RSI] dropped deeper to 33 before rising to 37 at press time.
Source: TradingView With the RSI making a bearish crossover, it confirmed intense selling pressure, with bears strongly dominating the market. Such market power dynamics usually result in more losses on price charts.
Therefore, if prevailing market conditions persist, ETH is likely to drop below $1.6k, with $ 1,500 as critical support.
However, if overall crypto market sentiment improves, the rebound from the $1.5k slip will hold, and $1740 will be reclaimed.
Ethereum whales panicked and dumped 19,441 ETH worth approximately $31.6 million. ETH dropped to a low of $1.5k before slightly rebounding amid strong downside momentum.
In brief Prediction market traders think Bitcoin and Ethereum are headed even lower as markets sell off. Traders now strongly favor dumps to $55,000 for BTC and $1,500 for ETH before any rebounds. The market's near-term fate may hinge on the performance of STRC, the preferred equity offering from Bitcoin behemoth, Strategy, according to one analyst. Prediction market traders are becoming increasingly bearish on near-term price action for Bitcoin and Ethereum, expecting downwards momentum to carry them further downwards towards $55,000 and $1,500, respectively.
Traders on Myriad—a prediction market platform operated by Decrypt’s parent company, Dastan—place odds of a Bitcoin dump to $55,000 before a rise to $80,000 at 77%, and odds of an Ethereum drop to $1,500 before a jump to $3,000 at 88% as markets sell off on Thursday.
The bearishness has been accelerating over the course of the last month, with odds of Bitcoin’s dump to $55,000 jumping 44% on Myriad in that time. As it stands, Bitcoin has fallen to $59,511, around a 1% drop in the last 24 hours and now 23% in the last month of trading. Bitcoin dipped to nearly $58,000 earlier Thursday, its lowest price since 2024.
The plunge is being amplified in traditional markets as well, as shares in Strategy (MSTR), Bitcoin’s leading treasury firm, have fallen even further, dropping nearly 7% since trading opened on Thursday to change hands around $88.
Shares in the firm have now fallen nearly 45% in the last month, while STRC—its preferred equity offering that is designed to trade around a par value at $100—is now down 22% in the last month, recently trading around $77. STRC touched an all-time low of $73.62 soon after the opening bell on Thursday.
“On a short-term basis, STRC is the tail wagging the Bitcoin dog,” Bitwise CIO Matt Hougan told Decrypt.
“While there are also macro factors at work—rising concerns about inflation, worries about rate hikes, etc.—the market can't keep its eyes off STRC trading in the $70s,” he added. “It's worried Strategy will enter some kind of death spiral and be forced to sell Bitcoin. This pressure will likely continue until Strategy clarifies how it plans to deal with the issue.”
As the market projects its fears into prices, analysts have noted that the firm’s best path forward may be shoring up its cash position, providing it more runway to pay dividend obligations, ultimately easing shaky investors.
The second-largest crypto asset has not been spared, with Ethereum sinking to $1,576—a drop of 2.6% in the last 24 hours, fueling a more than 25% plunge in the last 30 days. At its current mark, ETH sits just 5.2% above its resolution point of $1,500 on Myriad. According to Hougan, ETH is “mostly caught in the crossfire” as “collateral damage” amid the STRC concerns.
Traders on other prediction market platforms are similarly pointing to more long-term bearishness on top crypto assets, as well. Kalshi markets that ask how low Bitcoin and Ethereum will go during 2026 give BTC a 36% chance of falling below $40,000, plus a 34% chance of ETH falling below $1,000.
Bitcoin is currently nearly 53% off its all-time high of $126,080 set last October. Meanwhile, ETH is more than 68% off its all-time high of $4,946 from last August.
Daily Debrief NewsletterStart every day with the top news stories right now, plus original features, a podcast, videos and more.
In brief Prediction market traders think Bitcoin and Ethereum are headed even lower as markets sell off. Traders now strongly favor dumps to $55,000 for BTC and $1,500 for ETH before any rebounds. The market's near-term fate may hinge on the performance of STRC, the preferred equity offering from Bitcoin behemoth, Strategy, according to one analyst. Prediction market traders are becoming increasingly bearish on near-term price action for Bitcoin and Ethereum, expecting downwards momentum to carry them further downwards towards $55,000 and $1,500, respectively.
Traders on Myriad—a prediction market platform operated by Decrypt’s parent company, Dastan—place odds of a Bitcoin dump to $55,000 before a rise to $80,000 at 77%, and odds of an Ethereum drop to $1,500 before a jump to $3,000 at 88% as markets sell off on Thursday.
The bearishness has been accelerating over the course of the last month, with odds of Bitcoin’s dump to $55,000 jumping 44% on Myriad in that time. As it stands, Bitcoin has fallen to $59,511, around a 1% drop in the last 24 hours and now 23% in the last month of trading. Bitcoin dipped to nearly $58,000 earlier Thursday, its lowest price since 2024.
The plunge is being amplified in traditional markets as well, as shares in Strategy (MSTR), Bitcoin’s leading treasury firm, have fallen even further, dropping nearly 7% since trading opened on Thursday to change hands around $88.
Shares in the firm have now fallen nearly 45% in the last month, while STRC—its preferred equity offering that is designed to trade around a par value at $100—is now down 22% in the last month, recently trading around $77. STRC touched an all-time low of $73.62 soon after the opening bell on Thursday.
“On a short-term basis, STRC is the tail wagging the Bitcoin dog,” Bitwise CIO Matt Hougan told Decrypt.
“While there are also macro factors at work—rising concerns about inflation, worries about rate hikes, etc.—the market can't keep its eyes off STRC trading in the $70s,” he added. “It's worried Strategy will enter some kind of death spiral and be forced to sell Bitcoin. This pressure will likely continue until Strategy clarifies how it plans to deal with the issue.”
As the market projects its fears into prices, analysts have noted that the firm’s best path forward may be shoring up its cash position, providing it more runway to pay dividend obligations, ultimately easing shaky investors.
The second-largest crypto asset has not been spared, with Ethereum sinking to $1,576—a drop of 2.6% in the last 24 hours, fueling a more than 25% plunge in the last 30 days. At its current mark, ETH sits just 5.2% above its resolution point of $1,500 on Myriad. According to Hougan, ETH is “mostly caught in the crossfire” as “collateral damage” amid the STRC concerns.
Traders on other prediction market platforms are similarly pointing to more long-term bearishness on top crypto assets, as well. Kalshi markets that ask how low Bitcoin and Ethereum will go during 2026 give BTC a 36% chance of falling below $40,000, plus a 34% chance of ETH falling below $1,000.
Bitcoin is currently nearly 53% off its all-time high of $126,080 set last October. Meanwhile, ETH is more than 68% off its all-time high of $4,946 from last August.
Daily Debrief NewsletterStart every day with the top news stories right now, plus original features, a podcast, videos and more.
With over four years of experience in covering and tracking the financial markets, Sneha Agrawal is a dedicated Crypto Journalist and Editor with passion for researching and writing the crypto pieces. She is currently leading the Block of Fame, here at CoinGape. She likes to keep track of political, legal and financial happenings all around the world - without which she deems her day incomplete. Apart from her Journalistic endeavours, she is a solo traveler, museum goer, and a keen reader of books.
TLDR BlackRock transferred 3,410 BTC and 5,132 ETH to Coinbase Prime. The combined value of the transfers reached approximately $217 million. Bitcoin transfers accounted for about $209.64 million of the total value. Ethereum transfers were valued at approximately $8.43 million. Lookonchain tracked the transactions across multiple blockchain transfers. BlackRock transferred another $217 million worth of Bitcoin and Ethereum to Coinbase Prime on June 25. The transactions followed continued ETF outflows across both products and renewed attention on the asset manager’s blockchain activity. Lookonchain tracked the transfers, while BlackRock did not disclose the purpose behind the deposits.
Lookonchain reported that BlackRock deposited 3,410 BTC and 5,132 ETH to Coinbase Prime through several transactions. The transfers carried an estimated value of $209.64 million in Bitcoin and $8.43 million in Ethereum. The movement occurred on Thursday, June 25.
Blockchain data showed about seven transfers during the operation. Nearly every Bitcoin transaction moved 300 BTC to Coinbase Prime. One separate transaction carried the Ethereum holdings to the same platform.
Market participants linked the transfers with recent ETF withdrawals because similar activity appeared during previous outflow sessions. However, BlackRock did not issue a statement explaining the latest deposits. The company also provided no public update regarding the destination of the transferred assets.
Exchange deposits often attract attention because they can precede trading activity. However, blockchain transfers alone do not confirm that an asset manager has sold any holdings. The available on-chain data only confirms the movement between wallets.
Bitcoin and Ethereum Transfers Follow ETF Withdrawals The latest deposits arrived while both Bitcoin and Ethereum exchange-traded funds continued recording withdrawals. BlackRock has transferred digital assets to Coinbase Prime during earlier outflow periods. Those previous transactions also prompted market discussion about possible sales.
Some traders interpreted the latest deposits as preparation for another disposal of holdings. Others pointed out that Coinbase Prime supports institutional custody and settlement services. Therefore, wallet transfers alone cannot establish whether any sale occurred.
BlackRock has not confirmed any direct sale connected to the June 25 transfers. The company also has not addressed market speculation surrounding the transactions. As a result, only the blockchain records remain publicly available.
Lookonchain’s published wallet activity showed that the combined transfers reached about $217 million. Bitcoin represented most of the transferred value, while Ethereum accounted for a smaller portion. The deposits reached Coinbase Prime through multiple wallet movements.
Previous blockchain records showed similar transfer patterns during sessions with ETF redemptions. Those observations have contributed to continued discussion whenever BlackRock moves assets to Coinbase Prime. Still, no public filing connected the latest transfers to completed market sales.
The recorded transfers included 3,410 BTC and 5,132 ETH. Based on prices during execution, the combined value reached approximately $217 million. BlackRock has not released any further information regarding the June 25 wallet activity.
Coinbase-backed Ethereum layer-2 network Base resumed operations after a roughly two-hour outage that halted block production and transaction processing. The team said an invalid block triggered an issue, and it continues to investigate the root cause while advising node operators to restart their nodes.The incident marks another disruption for Base following a previous outage in August 2025. Coinbase-backed Ethereum layer-2 network Base resumed block production Thursday after a disruption of roughly two hours that halted the blockchain.
In an update, the Base team said the chain has resumed working and internal nodes were syncing correctly, though it continues to investigate the root cause of the incident. The team also advised ecosystem node operators to restart their Base nodes to restore synchronization.
The first public indication of problems came at 16:03 UTC, when Base reported that mainnet block production was "unhealthy." By 16:52 UTC, the team said it had identified a problem and was pursuing multiple remediation efforts.
The incident temporarily halted transaction processing on one of Ethereum's largest layer-2 networks. Base has not yet disclosed what caused the invalid block or whether the issue stemmed from a software bug or another consensus-related fault.
The network also previously suffered an outage in August 2025.
The team said it will continue to monitor network stability and provide further updates as its investigation continues.
Read more: Base Network Suffers 1st Downtime Since 2023, Halts Operations for 29 Minutes
DOGE Needs To Go UprightDogecoin posted an image of a Shiba Inu dog stretched in what looked like a classic yoga pose, with a caption, “Somebody needs to tell the charts to stop doing the downward dog.”
The responses reflected a mix of hope and playfulness, with one user editing the image to show a Shiba Inu standing upright, smiling, and sticking out its tongue, hinting at a possible market turnaround or correction.
Dogecoin Faces Tough TestDogecoin’s been struggling lately, just like the rest of the cryptocurrency market. The dog-themed memecoin had dived 9% in a week, and nearly 24% in a month, as selling pressure continued to mount.
The cryptocurrency recorded over a billion in trading volumes in just the last 24 hours, marking a 105% increase.
Cryptocurrency analyst Ali Martinez had flagged $0.087 as a crucial support for Dogecoin earlier in the month. However, a fresh wave of selling drove the price below that level, accelerating the downturn.
The Relative Strength Index, meanwhile, flipped into the oversold territory, according to data from TradingView, suggesting it may be a good time to enter the trade.
The Moving Average Convergence Divergence indicator, which compares two exponential moving averages of an asset’s price, typically the 12-period and the 26-period, flashed a “Sell.”
Price Action: At the time of writing, DOGE was exchanging hands at $0.07686, down 2.51% over the last 24 hours, according to data from Benzinga Pro.
Photo courtesy: Shutterstock
Market News and Data brought to you by Benzinga APIs
Cover image via depositphotos.com Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.
Traders are paying close attention to Dogecoin once more, but this time it's not because of a significant price increase. Rather, investors are witnessing a remarkable increase in trading activity. Even though the asset was still trading close to local lows, recent market data shows that DOGE trading volume on major exchanges increased by more than 116% over the previous day.
Dogecoin clearly going downRising volume in a down market may initially seem pessimistic. DOGE is still trading far below its major moving averages and is clearly in a downward trend. The asset has had difficulty establishing a significant recovery since it broke below a crucial support structure. Sellers are still favored by price action alone. Volume, however, frequently conveys a more complex message.
DOGE/USDT Chart by TradingViewSignificant increases in activity usually indicate that market players are getting more involved. In some cases, this may indicate capitulation and panic selling. In others, it signals the start of accumulation as buyers step in to replenish depleted sellers' inventory. The way the market is currently positioned adds another level of complexity. Across major exchanges, long-to-short ratios continue to be significantly biased toward bullish wagers.
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While OKX participants are even more aggressively positioned on the long side, Binance traders keep their long-to-short ratio above 2. This implies that a sizable section of the market is still wagering on a recovery rather than a more severe collapse, in spite of the recent weakness.
Dogecoin's first main obstacleNaturally, there is a chance that crowded long positioning will serve as fuel for further liquidations in the event that support fails. However, if DOGE is able to stabilize and recover close to resistance levels, it also sets the stage for a strong upside move. Technically, the $0.085 area, where short-term resistance and moving averages converge, continues to be the first obstacle for bulls.
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A successful breakout above that level would boost sentiment considerably and might draw in new speculative demand. For the time being, the increase in trading volume seems to be more indicative of growing anticipation than of pure panic. Despite the uncertainty surrounding the direction, investors appear to be preparing for a significant move.
Whether the 116% volume explosion is the last phase of capitulation or the first indication that Dogecoin is getting ready for another recovery attempt should be revealed in the upcoming sessions. In any case, it is evident that DOGE is seeing a return to market participation.
Cover image via U.Today Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.
Dogecoin's official X handle shared a post that has caught the attention of the crypto community, even as the market faces a selloff with $1 billion wiped out in liquidations.
The Dogecoin official X account tweeted, "somebody needs to tell the charts to stop doing the downward dog."
The timing of the post coincided with a downward trend seen on price charts across multiple timeframes, even as the crypto bear market drags on.
Digital assets saw a significant drop in the last 24 hours: $1 billion in positions were liquidated across the crypto market, according to CoinGlass data.
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The decline triggered about $778 million in long liquidations, or bets on higher prices that were automatically closed as the price fell, while short liquidations totaled $222 million.
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Dogecoin fell to a low of $0.072 in the Wednesday session in a two-day drop before slightly recovering. At the time of writing, Dogecoin was still in the red, down 3.14% in the last 24 hours to $0.076 and down 10% weekly.
Dogecoin has steadily declined since mid-June, marking seven out of ten days in losses since June 14.
What comes next?The cryptocurrency market is experiencing a bear market that has lasted over eight months, fueled by both macroeconomic and industry-specific headwinds. Capital has been moving into AI stocks, hot IPOs, and prediction markets.
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In the meantime, the primary upside catalyst for the broader crypto industry is the market structure bill, known as the CLARITY Act, which has about five weeks to clear a key legislative hurdle before Congress's summer recess.
In the very near term, Thursday's PCE inflation print, the Fed's preferred price gauge, will be the next data point that could move the market in either direction.
The Personal Consumption Expenditures (PCE) data release is expected on Thursday at 8:30 ET. A hotter-than-expected core PCE could reinforce expectations for Fed rate hikes and potentially weigh on stocks and cryptocurrencies.
Volatility is strongly returning to cryptocurrencies as a wave of selling hits digital assets. In this tense context, the official Dogecoin account chose humor to comment on the situation. The post shared on X follows a significant series of liquidations that affected the crypto market. This light message contrasts with the current pressure on investors, facing an extended period of decline and uncertainties about the future evolution of the sector.
In brief The official Dogecoin account commented on the crypto market correction with a humorous post on X. A wave of selling caused nearly 1 billion dollars in liquidations on cryptocurrencies. Dogecoin fell by 3.14% in 24 hours and 10% over one week. The crypto market remains under pressure after more than eight months of downward trend. Investors are watching the CLARITY Act and upcoming inflation indicators. Dogecoin Reacts With Humor During a Strong Wave of Selling While charts show a downward trend, the official account of the memecoin published a humorous remark intended for its community. The message states: “Someone needs to tell the charts to stop doing the downward dog pose.” This sentence refers to the movements visible on price curves, which show a negative orientation over several periods.
The official Dogecoin account’s post comes as liquidations reach a significant level. According to data reported by U.TODAY, a large quantity of positions was erased following the recent wave of sales in the cryptocurrency market. This situation reflects the pressure applied to traders, especially those who had anticipated a price increase.
Here are the key figures summarizing the extent of this crypto market correction:
1 billion dollars: total amount of positions liquidated after the recent wave of sales in the cryptocurrency market. 778 million dollars: value of liquidations related to long positions, approximately 78% of total liquidations. 222 million dollars: amount of short positions liquidated, representing about 22% of total liquidations. 0.072 dollar: the level reached by Dogecoin at its low point recorded on Wednesday. -3.14%: decrease in Doge price over the last 24 hours at the time of the latest available data. -10%: weekly decline recorded by Dogecoin during this correction period. Among the liquidated operations, long positions represented the majority of forced closures. These contracts correspond to bets placed on asset price increases and automatically close when prices move in the opposite direction. Short positions also faced liquidations, but to a more limited extent.
Dogecoin followed the general market trend with several difficult sessions. The asset hit a low on Wednesday before attempting a slight recovery. Despite this temporary rebound, selling pressure remains in an environment marked by strong volatility and increased investor caution.
The Crypto Market Remains Under Pressure After Massive Liquidations The crypto market correction continues to influence investor behavior. Since mid-June, the asset has experienced a difficult trend with several negative days. Dogecoin has recorded seven losing sessions out of ten since June 14, in a generally unfavorable environment for cryptocurrencies.
This downward phase has lasted more than eight months and combines several factors related to economic conditions and the sector. The crypto market is also witnessing a redistribution of capital towards other domains. Stocks related to artificial intelligence, certain IPOs, and prediction markets are currently drawing more attention.
In this context, the crypto market also awaits factors capable of influencing the next direction of digital assets. The U.S. market structure bill, the CLARITY Act, is an element closely followed by the industry. The bill still needs to pass a legislative stage before the congressional summer recess.
In the short term, inflation data represent another important point for financial markets. The PCE index, considered a reference by the Fed, must provide new indications. A result above expectations could strengthen rate hike expectations and weigh on risky assets.
The Outlook Remains Linked to Upcoming Economic Indicators After this period of decline, sector players are watching the next market movements. Dogecoin still operates in an environment characterized by caution. Investors now analyze upcoming economic signals and decisions likely to impact cryptocurrencies.
The humorous reaction from Dogecoin also illustrates how some digital communities comment on phases of strong volatility. Despite this offbeat communication, price data remains at the heart of discussions. The asset thus continues to follow general trends observed on digital assets.
The next sessions could bring new elements about the current dynamics. Markets remain attentive to economic data, regulatory decisions, and capital movements between sectors. Investors also observe the reactions of key digital assets in this period of uncertainty.
The crypto market could experience new fluctuations according to upcoming economic and regulatory information. The next weeks will allow observation of the effect of inflation data and progress around the CLARITY Act. For now, the crypto market remains attentive to factors likely to alter the balance between buyers and sellers.
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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.
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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.
Dogecoin has posted a negative return in June every year since 2017, with CryptoRank data showing an average monthly loss of 7.29% and a median decline of 9.94% over that nine-year streak. DOGE traded near $0.087 in mid-June 2026, down approximately 82% from its late-2024 peak near $0.47 and roughly 88% below its May 2021 all-time high of $0.7376, according to historical records. The crypto Fear and Greed Index dropped to 14 in early June, indicating extreme fear territory, while Dogecoin’s Relative Strength Index sat at 40.78, signaling neutral but weak momentum conditions. Changelly’s forecast projects an average DOGE price of $0.109 for 2026 with a June floor near $0.095, while CoinCodex’s algorithm generates a bearish near-term outlook with 19 bearish technical signals. X Money entered closed beta testing in early March 2026 with a public launch announced for April, but Dogecoin integration as a native payment option remains unconfirmed by the platform as of June. Dogecoin enters its historically worst calendar month at a price near $0.087, with no confirmed catalyst to break a nine-year streak of June losses. The meme coin sits 82% below its late-2024 peak, when the DOGE government-agency acronym drove a 300% annual gain that was reversed entirely in 2025.
CoinCodex’s technical analysis currently flags 19 bearish indicators against 11 bullish ones, and the broader crypto market’s Fear and Greed Index has plunged into extreme fear territory.
This article examines DOGE’s seasonal pattern, the technical levels that will determine whether support holds, and the unresolved X Money catalyst that remains the largest variable in Dogecoin’s 2026 outlook.
Nine Years of Negative June Returns Dogecoin has not posted a positive June since 2016. CryptoRank data cited by TechBullion shows an average June return of -7.29%, with a median loss of 9.94% across the nine consecutive years of declines. Applying the average loss to the current price of $0.087 would put DOGE near $0.081 by month’s end.
Long Forecast’s June 2026 prediction projects an opening price of $0.093, a high of $0.096, a low of $0.084, and a month-end close of $0.090, representing a 3.2% decline. The model projects a steeper 15.6% drop in July, with DOGE potentially reaching $0.076 before any seasonal recovery.
Analysis: Seasonal patterns are not deterministic. The streak could break in any given year. But nine consecutive red Junes establish a statistical tendency that quantitative trading models and algorithmic strategies actively trade against. The pattern creates a self-reinforcing dynamic: sellers anticipate the decline, and their positioning contributes to it.
Technical Support Levels and On-Chain Signals Coinpedia’s June analysis identified the $0.082-$0.085 zone as a critical short-term support band. A sustained hold above this range could allow a recovery toward $0.10 to $0.12, though the $0.095 to $0.10 region continues acting as a firm supply zone that has repeatedly rejected upside attempts.
The crypto Fear and Greed Index sat at 14 in early June, deep in extreme fear territory, Coin Gabbar reported. DOGE’s RSI at 40.78 indicates neutral momentum rather than oversold conditions, meaning a further decline would not yet trigger standard mean-reversion signals. Volume dropped 7.09% alongside the price decline, suggesting quiet capitulation rather than panic selling.
Whale accumulation data tells a slightly different story. Large wallet activity has gradually increased around the $0.09-$0.10 zone, indicating accumulation rather than distribution, Coinpedia noted. If larger holders are building positions near current levels, the sell pressure may eventually exhaust itself as available supply tightens.
The X Money Catalyst Remains Unresolved The single most consequential unresolved catalyst in Dogecoin’s history is whether Elon Musk’s X platform will integrate DOGE as a native payment option. X Money entered closed beta testing in early March 2026 with a public launch announced for April, Changelly’s analysis noted. DOGE integration has not been confirmed.
If Musk adds DOGE as a payment option for X’s 600 million-plus users, it would represent the largest real-world utility unlock in the token’s history. If it never materializes, the primary bull case collapses. The binary nature of this catalyst explains much of the divergence in analyst forecasts.
Alex Carchidi of The Motley Fool predicted DOGE will fall to $0.10 by the end of 2026, arguing the token lacks real utility. With DOGE trading near that level, the bearish case has largely played out on schedule.
Dogecoin’s structural inflation compounds the challenge. The network adds approximately 5 billion new DOGE annually with no maximum supply cap. The current inflation rate is around 3.5% and is gradually declining as total supply expands. For DOGE to appreciate, demand must outpace new issuance every year indefinitely.
What’s Next? The remainder of June will test the $0.082-$0.085 support band. A breakdown below that zone could expose DOGE to a move toward $0.07, extending the broader corrective trend. A breakout above $0.12 would be required before sentiment shifts decisively toward bulls.
The Dogecoin Foundation‘s plans for Dogebox infrastructure upgrades and merchant integration remain ongoing, with a stated target of 1 million merchants, though progress has not been publicly benchmarked.
FAQs Why does Dogecoin typically decline in June?
CryptoRank data show that Dogecoin has posted negative returns in June for nine consecutive years since 2017, with an average monthly loss of 7.29%, driven by seasonal selling patterns and reduced retail sentiment.
What is Dogecoin’s price in June 2026?
DOGE traded near $0.087 in mid-June 2026, approximately 82% below its late-2024 peak of $0.47 and roughly 88% below its all-time high of $0.7376 set in May 2021.
What is the key support level for DOGE in June 2026?
Coinpedia identified the $0.082 to $0.085 zone as a critical short-term support band, noting that a breakdown below this range could expose Dogecoin to further declines toward the $0.07 region.
Will X Money integrate Dogecoin?
X Money entered closed beta testing in March 2026, but as of June 2026, integration of Dogecoin as a native payment option has not been confirmed by the platform or X leadership.
Does Dogecoin have a maximum supply cap?
No, Dogecoin has no maximum supply cap and adds approximately 5 billion new DOGE annually, creating a structural inflation rate currently near 3.5% that requires sustained demand growth to support higher prices.
What is the Fear and Greed Index for crypto in June 2026?
The crypto Fear and Greed Index dropped to 14 in early June 2026, indicating extreme fear territory, while Dogecoin’s Relative Strength Index stood at 40.78, reflecting neutral but weak momentum.
What do analysts predict for Dogecoin in 2026?
Forecasts range widely: Changelly projects an average of $0.109, CoinCodex flags bearish technical signals, Long Forecast predicts $0.087 by December, and Coinpedia sees a potential range up to $1.25 in bullish scenarios.
Charles Hoskinson reassures the ADA community following the security incident involving SecondFi, emphasizing that the breach did not compromise the Cardano blockchain itself.
His comments came as concerns spread throughout the Cardano ecosystem after reports revealed that attackers exploited vulnerabilities connected to SecondFi wallets, resulting in significant losses for affected users.
Hoskinson: Cardano Core Infrastructure Remains Secure According to Hoskinson, there is no evidence that the incident affected any component of Cardano’s underlying technology stack. He stressed that the network’s protocol, cryptographic foundations, node infrastructure, and open-source wallet implementations continue to function as intended.
Consequently, he classified the incident as an application-level security failure rather than a failure of the blockchain itself. His commentary sought to calm fears that the breach could threaten ordinary ADA holders who do not use SecondFi.
Update https://t.co/23F2M0YrUp
— Charles Hoskinson (@IOHK_Charles) June 24, 2026
“Cardano Was Not Hacked” Further, he rejected claims that the blockchain itself was compromised, stressing that “Cardano was not hacked.” According to him, describing the incident as a “Cardano hack” creates the false impression that the blockchain’s core infrastructure failed.
Interestingly, he compared the situation to a vulnerable third-party application running on an operating system. Using an analogy involving Microsoft and its Windows platform, Hoskinson argued that users do not blame Windows whenever an external application contains bugs or security flaws.
Similarly, he maintained that vulnerabilities in an individual wallet or financial application should not be interpreted as weaknesses in Cardano’s protocol. He also reiterated that users’ funds across the broader Cardano ecosystem remain secure.
SecondFi Confirms Attack Originated at Address and Signing Layer Hoskinson’s reassurance followed reports of a large-scale exploit suffered by SecondFi (formerly Yoroi Wallet), a neo-finance application owned by EMURGO, one of Cardano’s founding entities.
Following the incident, SecondFi disclosed that the breach occurred at the address and transaction-signing level, allowing malicious actors to initiate unauthorized transactions.
According to the company, four separate wallet-draining incidents occurred earlier this week. Three of those attacks were linked to external threat actors and resulted in the theft of approximately 16 million ADA from 374 wallets.
Meanwhile, the company revealed that it secured an additional 129 million ADA by transferring the assets to a third-party custodian as an emergency precaution.
SecondFi Deploys Patch and Begins Recovery Process In response to the incident, SecondFi announced that it has already deployed a security patch and engaged an external auditor to verify customer holdings. The company also confirmed that it is developing a claims process for affected users to facilitate compensation and recovery efforts.
Notably, SecondFi warned users not to restore their recovery phrases into other wallets. It added that doing so could disrupt or complicate the claims process for affected funds.
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.
Cardano founder Charles Hoskinson expressed sympathy for affected users and acknowledged the emotional toll of the losses.
Speaking during a livestream yesterday, Hoskinson apologized to both the victims and the broader Cardano community over the unfortunate breach at SecondFi (formerly Yoroi Wallet), which resulted in the theft of 16 million ADA.
According to him, many victims may have lost most or all of their ADA holdings, making the financial and emotional consequences severe regardless of the overall value involved.
Hoskinson Reflects on Previous Crypto Hacks Hoskinson described the incident as an unfortunate reality of the cryptocurrency industry, noting that security breaches have occurred throughout the sector’s history.
Drawing on more than 15 years of experience in crypto, he said he has witnessed numerous hacks and exploits across multiple blockchain ecosystems.
The Cardano founder also revealed that he personally suffered losses during the August 2022 Nomad Bridge exploit, an incident that caused an estimated $20 million to $30 million in losses for Cardano users.
Although attackers never breached Cardano’s base blockchain during the Nomad Bridge exploit, the incident still affected the ecosystem by disrupting bridge-wrapped assets on Ethereum.
Hoskinson noted that a large portion of the stolen funds was recovered. However, he emphasized that the attack highlighted the persistent risks associated with digital assets.
SecondFi Contains Damage Meanwhile, the SecondFi breach marks another painful chapter for the Cardano ecosystem.
The team behind the non-custodial neo-finance platform disclosed that attackers stole 16 million ADA from 374 wallets during the incident. In response, the company moved swiftly to prevent additional losses by transferring 129 million ADA to an independent third-party custodian.
SecondFi has since launched a special audit and deployed a security patch to address the vulnerability. The company has also begun a compensation process for affected users while warning customers not to enter their recovery phrases into any other Cardano-related wallets.
As per our previous post:https://t.co/rZanyrVGWN
We have identified the root cause and have since rolled out a patch for all unaffected wallets. This will allow us to resume normal operations soon.
Hoskinson Insists Cardano Remains Secure Despite the scale of the incident, Hoskinson reassured ADA holders that the breach affects only SecondFi and not the broader Cardano network.
He emphasized that attackers did not hack Cardano itself and reiterated that the incident was an application-specific issue involving SecondFi rather than a failure of the Cardano protocol.
The development comes amid rising concerns within the Cardano ecosystem, fueled by governance disputes, the shutdown of TapTools, and the departure of key contributors. Adding to the pressure, ADA has remained in bearish territory, with the token currently trading at $0.1493, down 95.18% from its previous all-time high of $3.10.
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.
PANews June 25 news, Cardano wallet service provider SecondFi released an update on the latest theft incident, stating that addresses linked to two attackers have been identified. SecondFi said that between June 21 and 23, a sophisticated automated attack stole funds from hundreds of Cardano wallets in three waves: Attacker A drained 171 wallets in two batch operations, and Attacker B drained 203 wallets in the third wave. SecondFi published multiple sets of collection addresses and the stake keys of the two attackers, and noted that approximately 4.02 million ADA remains in Attacker B's designated address, currently flagged and under on-chain monitoring. The project team stated it is continuing to track the flow of related assets with law enforcement agencies and Cardano ecosystem partners.
SecondFi has identified the root cause of the recent exploit that targeted hundreds of Cardano wallets. It warned affected users not to restore their recovery phrases into another wallet, as the compromise occurs at the private key level rather than the wallet application itself.
In an investigation update published on June 25, the Cardano wallet provider said the attack stemmed from a deterministic nonce derivation flaw in its software signer. This allowed attackers to mathematically reconstruct private keys from publicly available blockchain data after affected addresses signed transactions.
The findings come days after the exploit drained approximately 16 million ADA, worth about $2.4 million. It affected 374 wallets across four separate wallet-draining events.
SecondFi says signing flaw exposed private keys According to SecondFi, the vulnerability existed at the address level. This means compromised keys remain exposed even if users import the same recovery phrase into another Cardano wallet.
The company said every transaction signed by an affected address leaked sufficient information for attackers to derive that address’s private key from on-chain data.
As a result, SecondFi urged affected users not to migrate their recovery phrases to another wallet or attempt to move funds independently. It warned that compromised addresses could be drained again.
It also cautioned against withdrawing staking rewards, as such transactions could expose funds to attackers monitoring the mempool.
Instead, the wallet provider advised affected users to wait for its official recovery process while submitting claims through its support portal.
Recovery effort enters next phase SecondFi said it has completed mapping all wallets affected during the initial exploit and has begun the next stage of its recovery program.
The company confirmed that 374 wallet addresses were impacted, with approximately 16 million ADA compromised. It added that emergency containment efforts have already secured around 129 million ADA, which is being held pending recovery operations.
SecondFi has also established a dedicated restoration fund to reimburse affected users and engaged multiple external security firms to audit its systems before resuming normal operations.
The platform remains in maintenance mode while independent security reviews continue.
Investigators identify two attacker groups As part of its latest update, SecondFi said it had identified and isolated the blockchain addresses associated with two attackers responsible for the automated wallet-draining campaigns between June 21 and 23.
According to the investigation, one attacker drained 171 wallets across two waves. At the same time, a second actor compromised 203 wallets during a separate sweep.
The company also disclosed that approximately 4.02 million ADA linked to the exploit remains in one identified collection wallet. The wallet has been flagged and remains under active monitoring.
Final Summary SecondFi traced the Cardano wallet exploit to a deterministic nonce-derivation flaw that enabled attackers to reconstruct private keys from public blockchain data. The company has launched a recovery program, identified two attacker groups, and warned affected users not to restore compromised recovery phrases into other wallets.
Key Takeaways Affirm adds Backcountry, expanding its footprint in the outdoor recreation market.More merchant partnerships can boost GMV, transactions and user engagement.Flexible payment options may increase conversion rates and average order values. Affirm Holdings, Inc. (AFRM - Free Report) recently announced a partnership with outdoor gear retailer Backcountry, giving shoppers a new way to pay for purchases over time at checkout. Customers buying outdoor equipment, apparel, footwear and adventure gear can select Affirm and split purchases into multiple installments, depending on eligibility.
The offering includes transparent payment schedules, with no late fees or hidden charges. The move expands Affirm’s presence in the outdoor recreation category and adds another merchant to its growing network. AFRM’s active merchant count jumped 44% year over year in the third quarter of fiscal 2026 to 515,000. For Backcountry, the partnership provides customers with added payment flexibility, especially for higher-ticket purchases that can make outdoor activities more accessible.
Outdoor gear purchases can be expensive, particularly for premium equipment and seasonal adventures. By adding Affirm, Backcountry lowers the upfront cost barrier for customers while maintaining pricing transparency. The partnership can improve conversion rates, encourage larger purchases and attract shoppers who want flexibility without relying on traditional credit cards.
The partnership could support higher gross merchandise volume (GMV) for Affirm by generating additional transaction activity. The company’s GMV rose 35% year over year to $11.6 billion in the third quarter of fiscal 2026. It expects to generate GMV of $49.265-$49.565 billion for fiscal 2026.
More merchant integrations also strengthen Affirm’s network effect, helping the company acquire users and increase engagement across categories. For Backcountry, offering AFRM’s BNPL options may lift average order values.
AFRM’s YTD Price PerformanceOver the year-to-date period, shares of Affirm have gained 5.2% against the 16.7% fall of the industry it belongs to.
Image Source: Zacks Investment Research
Zacks Rank & Key PicksAffirm currently has a Zacks Rank #3 (Hold).
Some better-ranked stocks from the broader payments space are Klarna Group plc (KLAR - Free Report) , Paymentus Holdings, Inc. (PAY - Free Report) and Remitly Global, Inc. (RELY - Free Report) , each carrying a Zacks Rank #2 (Buy) at present. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
The Zacks Consensus Estimate for Klarna’s current-year earnings indicates a 105.1% year-over-year improvement. KLAR has witnessed four upward estimate revisions over the past 60 days against no movement in the opposite direction. The consensus estimate for current-year revenues is pegged at $4.44 billion, indicating 26.5% year-over-year growth.
The Zacks Consensus Estimate for Paymentus’ current-year earnings indicates a 19.7% year-over-year jump. PAY beat earnings estimates in each of the trailing four quarters, with the average surprise being 12%. The consensus estimate for current-year revenues implies 19.9% year-over-year growth.
The consensus estimate for Remitly Global’s current-year earnings indicates a 331.3% year-over-year surge to $1.38 per share. It has witnessed one upward estimate revision and no downward movement over the past 60 days. The consensus estimate for RELY’s current-year revenues is pegged at $1.97 billion, implying 20.4% year-over-year growth.
Key Takeaways BF.B is benefiting from strong growth in emerging markets and Travel Retail, led by Jack Daniel's and New Mix.BF.B's innovation pipeline, including Tennessee Blackberry and New Mix, continues to support portfolio.BF.B expects flat organic sales and a 3%-5% decline in organic operating income in fiscal 2027. Brown-Forman Corporation (BF.B - Free Report) enters fiscal 2027 with a cautious setup. Premium spirits, emerging-market demand and innovation continue to support the portfolio, while weak developed-market consumption limits the recovery.
Brown-Forman’s fiscal 2026 net sales declined 1% on a reported basis to $3.9 billion and were flat organically. Fourth-quarter net sales rose 2% to $912 million and increased 2% organically, but earnings per share fell 62% year over year to 12 cents.
The geographic split explains the flat outlook. Emerging markets increased 14% on a reported basis and 12% organically in fiscal 2026, driven by the Jack Daniel’s family of brands in Türkiye, the United Arab Emirates and Brazil, along with double-digit growth for New Mix in Mexico. Travel Retail net sales rose 6% on a reported basis and 5% organically, helped by higher volumes of Jack Daniel’s Tennessee Whiskey. These gains show demand resilience. New Mix is benefiting from consumer interest in flavor, convenience and value in Mexico, while Brazil is supporting the Jack Daniel’s portfolio through broader distribution and revenue-growth management.
Image Source: Zacks Investment Research
Developed markets remain weak. In the United States, reported net sales declined 7% in fiscal 2026 and were flat organically. The decline reflected the end of the Korbel relationship, the absence of the Sonoma-Cutrer prior-year transition services agreement, lower volumes of Jack Daniel’s Tennessee Whiskey and unfavorable portfolio mix.
Developed International net sales were flat on a reported basis but declined 3% organically. The shortfall was tied to the absence of American-made beverage alcohol from retail shelves in most Canadian provinces, plus declines in Germany and the United Kingdom. Canada declined nearly 60% in fiscal 2026, and management continues to assume American spirits will remain off shelves across most of Canada in fiscal 2027.
Innovation is helping, but it does not remove earnings risk. Jack Daniel’s Tennessee Blackberry reached almost 300,000 nine-liter depletions in the United States by fiscal year-end and almost 150,000 nine-liter depletions across six European launch markets. New Mix net sales increased 41% on a reported basis and 33% organically, reflecting share gains in Mexico and its launch in the United States.
The premiumization strategy also remains relevant. Whiskey products’ net sales increased 3% on a reported basis and 1% organically in fiscal 2026, supported by Jack Daniel’s Tennessee Blackberry, favorable foreign exchange and Woodford Reserve growth in the United States. Diageo plc (DEO - Free Report) is a relevant peer for investors watching premium spirits demand, as global beverage-alcohol portfolios face similar shifts in consumer spending. Constellation Brands, Inc. (STZ - Free Report) , a beer, wine and spirits company, offers another comparison point for investors assessing category balance.
Still, fiscal 2027 points to limited near-term upside. Brown-Forman expects organic net sales to be approximately flat and organic operating income to decline 3-5%. The operating-income outlook reflects higher input costs, product-mix pressure from faster ready-to-drink growth and the cost cycle tied to barreled whiskey inventory. Used-barrel sales also remain a drag after non-branded and bulk net sales declined 68% in fiscal 2026.
Financial flexibility provides a counterweight. Brown-Forman generated $1 billion in cash flows from operations in fiscal 2026, up from $598 million in the prior year. Free cash flow increased $462 million to $893 million, and the company returned $827 million to stockholders through regular dividends and share repurchases.
The bottom line is that BF.B’s flat sales outlook looks defensible, but not especially dynamic. Emerging markets, Travel Retail, innovation and premium brands are helping stabilize the business, while developed-market demand, Canada disruption, used-barrel weakness and cost inflation keep earnings visibility constrained.
The stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
It has a VGM Score of C, Value Score of C, Growth Score of C and Momentum Score of B. The Rank points to a neutral near-term earnings-revision profile, while the Style Scores suggest mixed factor support, with momentum stronger than value or growth.
For investors, that combination supports a watchful stance rather than a forceful bullish view. BF.B has durable brand equity and stronger cash flow, but fiscal 2027 still depends on whether emerging-market momentum and innovation can offset macro strain in developed markets.
Analyst’s Disclosure: I/we have no stock, option or similar derivative position in any of the companies mentioned, and no plans to initiate any such positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.
Seeking Alpha's Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.
New York, New York--(Newsfile Corp. - June 25, 2026) - Bronstein, Gewirtz & Grossman, LLC, a nationally recognized investor-rights law firm, announces that a class action lawsuit has been filed against Lucid Group, Inc. (NASDAQ: LCID) and certain of its officers.
This lawsuit seeks to recover damages against Defendants for alleged violations of the federal securities laws on behalf of all persons and entities that purchased or otherwise acquired Lucid securities between February 25, 2026 and April 13, 2026, both dates inclusive (the "Class Period"). Such investors are encouraged to join this case by visiting the firm's site: bgandg.com/LCID.
Lucid Case Details
The Complaint alleges that throughout the Class Period, Defendants failed to disclose that:
a supplier quality issue had significantly disrupted deliveries of the Lucid Gravity; the foregoing was likely to, and did, have a material negative impact on the Company's business and financial results; accordingly, the defendants had overstated the purported enhancements to Lucid's manufacturing and delivery capabilities and overall operations; and as a result, defendants' public statements were materially false and misleading at all relevant times.What's Next for Lucid Investors?
A class action lawsuit has already been filed. If you wish to review a copy of the Complaint, you can visit the firm's site: bgandg.com/LCID, or you may contact Peretz Bronstein, Esq. or his Client Relations Manager, Nathan Miller, of Bronstein, Gewirtz & Grossman, LLC at 917-590-0911. If you suffered a loss in Lucid you have until July 28, 2026, to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn't require that you serve as lead plaintiff.
No Cost to Lucid Investors
We, Bronstein, Gewirtz & Grossman LLC, represent investors in class actions on a contingency fee basis. That means we will ask the court to reimburse us for out-of-pocket expenses and attorneys' fees, usually a percentage of the total recovery, only if we are successful.
Why Bronstein, Gewirtz & Grossman, LLC for Lucid Securities Class Action?
Bronstein, Gewirtz & Grossman, LLC is a nationally recognized firm that represents investors in securities fraud class actions and shareholder derivative suits. Our firm has recovered hundreds of millions of dollars for investors nationwide. More at www.bgandg.com
"Our practice centers on restoring investor capital and ensuring corporate accountability, which serves to uphold the essential integrity of the marketplace," said Peretz Bronstein, Founding Partner of Bronstein, Gewirtz & Grossman, LLC.
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To view the source version of this press release, please visit https://www.newsfilecorp.com/release/299664
Source: Bronstein, Gewirtz & Grossman, LLC
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Should you invest in a legacy powerhouse or a high-tech newcomer? Comparing General Motors (GM 0.48%) and Lucid Group (LCID 0.68%) reveals two very different strategies for navigating the future of transportation.
General Motors focuses on mass-market scale and expanding into software services to complement its traditional manufacturing. In contrast, Lucid targets the luxury electric vehicle segment with proprietary technology and a direct-to-consumer sales model. These companies represent opposing ends of the broad vehicle market, offering investors a choice between established stability and speculative growth potential.
The case for General MotorsGeneral Motors designs, builds, and sells a wide range of trucks, crossovers, and cars while expanding its software-enabled services and subscriptions. Its business relies heavily on a global network of about 11,000 independent dealers and significant fleet sales to commercial entities. A recent lawsuit from a New York GMC dealer regarding unfair allocation practices highlights the potential for friction within this dealer-dependent model. The company also maintains a large presence in China through joint ventures, which remains a key part of its international strategy.
In FY 2025, revenue reached approximately $185.0 billion, representing a 1.3% decrease from the nearly $187.4 billion generated in 2024. The company reported a net income of close to $2.7 billion for the year, which is a decline from the $6.0 billion earned in the prior fiscal period. This performance resulted in a net margin of about 1.5%, which represents the portion of total revenue that remains as profit after all costs are paid.
As of its December 2025 balance sheet, the debt-to-equity ratio stands at roughly 2.1x, indicating that total debt is about twice the value of shareholder equity. The current ratio, which compares short-term assets to short-term liabilities, is approximately 1.2x. Free cash flow, calculated as cash from operations minus capital expenditures, was nearly $11.1 billion for the fiscal year. This cash generation provides the company with significant capital to fund its operations and future development.
The case for LucidLucid Group operates among consumer discretionary stocks as a luxury electric vehicle manufacturer, selling the Lucid Air and the new Lucid Gravity SUV. Its business model avoids traditional dealerships in favor of a direct-to-consumer approach. The company's growth strategy includes a massive commitment from the Government of Saudi Arabia to purchase up to 100,000 vehicles over a ten-year period. It is also expanding into the autonomous vehicle space by partnering with Uber Technologies (UBER 1.57%) and autonomous vehicle and robotics company Nuro to deploy vehicles for robotaxi programs.
During FY 2025, revenue climbed to nearly $1.4 billion, which is a significant 67.6% increase over the approximately $807.8 million reported in 2024. However, the business is still scaling and reported a net loss of roughly $2.7 billion for the fiscal year. This resulted in a net margin of about -199.3%, indicating that the company is currently spending significantly more than it earns in revenue to grow its production.
The December 2025 balance sheet shows a debt-to-equity ratio of approximately 1.2x, meaning total debt is 1.2 times the size of shareholder equity. The current ratio is roughly 1.3x, which suggests the company maintains a reasonable level of liquidity to meet its short-term obligations. Free cash flow remained negative at close to $3.8 billion for the year, as the company continues to spend heavily on production facilities and new vehicle development.
Risk profile comparisonGeneral Motors faces significant data privacy risks, particularly following a $12.75 million settlement over the unauthorized sale of driver data. The company is also facing multiple class-action lawsuits over issues with the Cadillac Lyriq and alleged defects in certain V8 engines. Furthermore, the company is restructuring its IT workforce with a 10% reduction to focus on artificial intelligence, which introduces execution risks. Competition from legacy rivals like Ford Motor Company (F +1.88%) adds further pressure to its market share.
Lucid is currently facing shareholder lawsuits alleging that the company hid delivery problems and supplier quality issues. The organization is also undergoing a major transition, including an 18% workforce reduction and a change in leadership to a new CEO, Silvio Napoli. Financially, the company remains dependent on external capital to fund its operations since it continues to post substantial net losses. It also faces stiff competition in the luxury electric vehicle space from established players such as Tesla (TSLA 0.67%) and Rivian Automotive (RIVN 0.96%).
Valuation comparisonGeneral Motors appears to be the more conservative choice based on its low Forward P/E, while Lucid's valuation depends more on its P/S ratio given its lack of positive future earnings estimates.
MetricGeneral MotorsLucidSector BenchmarkForward P/E6.2xn/a28.6xP/S ratio0.4x1.2xSector benchmark uses the SPDR XLY sector ETF.
Valuation metrics sourced from Financial Modeling Prep (FMP) and may differ from other data providers.
Many investors would quickly put each of these stocks into very different baskets. General Motors (GM) could be the stodgy old industrial name that has significant cash flow to help it continue to compete and return to shareholders. Lucid could be cast as a speculative bet that might either go to zero or to the moon.
While that is a pretty accurate approach to Lucid, the truth is that GM isn’t just the stodgy old industrial stock. Shares have soared by 60% year to date. And its p/e remains low relative to the market. GM has also doubled its dividend over the past three years.
While I personally hold a small allocation as a bet on Lucid shares, I know there’s a real chance the company might not survive. It has relied heavily on Saudi government funding, and needs its world-class EV technology to be licensed by others for the company to thrive in the long run.
GM is a safer pick yet still has capital appreciation upside. That would be the pick to make between these two very different automakers.
Lucid (NASDAQ:LCID | LCID Price Prediction) at $5.19 faces a deteriorating risk/reward setup. The stock sits within striking distance of its 52-week low of $4.47, and the latest filings show a capital structure deteriorating faster than deliveries can compensate.
Lucid builds the luxury Air sedan and Gravity SUV from its Arizona plant, with a Saudi Arabia facility scheduled to add midsize production in 2027. Full-year 2025 revenue reached $1.35B on 17,840 vehicles produced, while the net loss came in at $2.70B and free cash flow at negative $3.83B. Shares are down 75.97% over one year and 97.91% over five.
Why The Bull Case Still Exists At $5 Bulls point to operational acceleration. Q4 2025 revenue jumped 122.9% year over year to $522.73M, beating consensus, and deliveries grew 72%. Management guides 25,000 to 27,000 vehicles in 2026, with Gravity ramping and a midsize platform on deck.
The partnership stack is real. Uber (NYSE:UBER) expanded its robotaxi commitment to a minimum of 35,000 vehicles and raised its equity stake to $500 million. NVIDIA (NASDAQ:NVDA) powers the Level 4 autonomy stack, Aston Martin licenses Lucid technology, and PIF continues to backstop the balance sheet. Pro forma liquidity stands at $4.7 billion, with runway into the second half of 2027.
The Balance Sheet Metric Bulls Cannot Explain Away Shareholders’ equity collapsed from $3.87B at year-end 2024 to $717M at year-end 2025, an erosion of more than 81% in twelve months. Retained earnings now sit at negative $16.64B. Q1 2026 was worse, with gross margin clocking negative 110.4% and the net loss rising to $1.0 billion versus $366 million a year earlier.
On a single day in early June, the interim CEO, CFO, and SVP of Finance disposed of shares at $5.68. Share count has roughly doubled since 2021, and every capital raise extends that dilution.
The Patience Argument A Hold case rests on the incoming CEO. Silvio Napoli took the role with the stated goal of building “a more self-sufficient company, one that progresses towards funding its own growth.” Guidance has been suspended pending his review. If unit costs compress as promised and Gravity deliveries convert the 2,407-vehicle inventory buildup into revenue, the burn rate could moderate. The cost of waiting, however, is more dilution.
What The Numbers Say Lucid currently trades at $5.19 with a market cap of roughly $2.09 billion. The consensus analyst target sits at $8.40, implying meaningful upside. The ratings split across 12 covering analysts tilts cautious:
Buy: 1 Hold: 8 Sell: 1 Strong Sell: 2 Year to date, LCID has fallen 50.9% against an S&P 500 that is roughly flat to modestly positive. Trailing EPS sits at -$13.14, book value per share is negative $1.064, and Polymarket traders price the odds of a 2026 bankruptcy announcement at 4.05%.
Why The Sell Call Wins At This Price At $5.19, Lucid is a Sell. Q1 2026 free cash flow was negative $1.44 billion. Cash on hand fell to $700 million before the latest raise. The $4.7 billion pro forma cushion only exists because PIF added $550 million in convertible preferred, Uber added $200 million in common, and Lucid sold another $300 million through a registered offering. Every quarter that gross margin stays at negative 110.4% consumes that cushion.
Watch three triggers in 2026: another capital raise that prints more shares, M2 construction delays in Saudi Arabia, and any miss on the 25,000 to 27,000 vehicle production target. The thesis flips only if gross margin turns convincingly positive and the company demonstrates a quarter of materially reduced burn without fresh equity issuance.
At current levels, Lucid’s survival plan and its dilution plan are effectively the same plan, which is a structural challenge for equity holders.
Draftkings Inc (NASDAQ:DKNG) shares have been volatile over the past month as investors continue to weigh the potential impact of prediction markets on the company’s growth outlook, according to Bank of America.
The analysts wrote that DraftKings shares have swung between an intraday low of $23.50 and a high of $30 since May, before easing back to around $25, or roughly 17% below recent highs. Shares were down another 4% at about $23.50 on Thursday.
They wrote that the move reflects a growing debate among investors around prediction market volumes, core sports betting trends, and valuation, particularly ahead of major sporting events.
The bank wrote that it has broken down the current “bull-bear” debate across prediction markets, DraftKings’ core business, and earnings outlook, while also raising its long-term prediction market total addressable market (TAM) estimate to $1.9 trillion in annual volume, up from a prior $1.3 trillion. Despite the higher TAM assumption, the firm made no changes to its earnings estimates and maintained a Neutral rating on the stock.
On prediction markets, Bank of America wrote that volumes have been accelerating, with DraftKings reporting annualized activity of about $3 billion in May, and projections suggesting that could rise to roughly $9 billion in June.
The analysts wrote that DraftKings’ market share has increased from around 1.3% in April to over 2% on certain days in June, and could potentially reach 5% to 10% by 2027 if product and marketing initiatives continue to scale. Under that scenario, the firm wrote that prediction markets could generate $500 million to $1 billion in revenue by 2027, with high incremental margins, though market-making activity could introduce additional upside volatility.
However, Bank of America also wrote that higher volumes may come with increased customer acquisition and promotional costs. The analysts estimate potential losses of $300 million to $550 million this year, above DraftKings’ current guidance of $200 million to $300 million.
They wrote that aggressive promotional activity, including offers such as “trade $5 get $200,” alongside lower fee economics and evolving market structure, could pressure near-term profitability until market-making scales further.
On the core business, Bank of America wrote that DraftKings continues to gain share in sports betting, supported by ongoing product improvements and marketing efficiency, with sports net gaming revenue now approaching parity with FanDuel.
At the same time, the analysts wrote that concerns remain around potential cannibalization from prediction markets, structural hold volatility following recent unfavorable sports outcomes, and softness in iGaming trends. They noted that iGaming has seen roughly 400 basis points of market share loss over the past 18 months, while gross gaming revenue growth slowed to low-single digits in the second quarter.
Snail Inc (NASDAQ:SNAL) on Thursday announced a slate of portfolio updates, including the debut of its first paid PixARK expansion, participation in the 2026 Steam Summer Sale, and continued traction for Bellwright following its console launch.
The company unveiled PixARK: Terracrypt, the first paid DLC for its sandbox survival title PixARK, which has surpassed one million downloads.
The expansion is planned to introduce more than 200 hours of gameplay, 80 new creatures, and a new open environment aimed at extending player progression. The PixARK base game is currently discounted 57% on Steam ahead of the DLC's release.
Snail also highlighted its participation in the 2026 Steam Summer Sale, noting that seasonal promotions have historically driven player acquisition, unit sales, and revenue across its catalog. ARK: Survival Ascended is available at 75% off during the event, ahead of the July 2 launch of Genesis Ascended Part I and Tides of Fortune content.
Bellwright, available at 34% off during the sale, is maintaining a Mostly Positive rating on Steam and has earned 3.7 and 3.8 stars on PlayStation and Xbox, respectively. The title reached the Top 5 Paid Games list on Xbox following its console launch.
Snail said it plans to continue supporting its portfolio through content updates, platform expansions, and new releases for the remainder of the year.
Draftkings Inc (NASDAQ:DKNG) shares have been volatile over the past month as investors continue to weigh the potential impact of prediction markets on the company’s growth outlook, according to Bank of America.
The analysts wrote that DraftKings shares have swung between an intraday low of $23.50 and a high of $30 since May, before easing back to around $25, or roughly 17% below recent highs. Shares were down another 4% at about $23.50 on Thursday.
They wrote that the move reflects a growing debate among investors around prediction market volumes, core sports betting trends, and valuation, particularly ahead of major sporting events.
The bank wrote that it has broken down the current “bull-bear” debate across prediction markets, DraftKings’ core business, and earnings outlook, while also raising its long-term prediction market total addressable market (TAM) estimate to $1.9 trillion in annual volume, up from a prior $1.3 trillion. Despite the higher TAM assumption, the firm made no changes to its earnings estimates and maintained a Neutral rating on the stock.
On prediction markets, Bank of America wrote that volumes have been accelerating, with DraftKings reporting annualized activity of about $3 billion in May, and projections suggesting that could rise to roughly $9 billion in June.
The analysts wrote that DraftKings’ market share has increased from around 1.3% in April to over 2% on certain days in June, and could potentially reach 5% to 10% by 2027 if product and marketing initiatives continue to scale. Under that scenario, the firm wrote that prediction markets could generate $500 million to $1 billion in revenue by 2027, with high incremental margins, though market-making activity could introduce additional upside volatility.
However, Bank of America also wrote that higher volumes may come with increased customer acquisition and promotional costs. The analysts estimate potential losses of $300 million to $550 million this year, above DraftKings’ current guidance of $200 million to $300 million.
They wrote that aggressive promotional activity, including offers such as “trade $5 get $200,” alongside lower fee economics and evolving market structure, could pressure near-term profitability until market-making scales further.
On the core business, Bank of America wrote that DraftKings continues to gain share in sports betting, supported by ongoing product improvements and marketing efficiency, with sports net gaming revenue now approaching parity with FanDuel.
At the same time, the analysts wrote that concerns remain around potential cannibalization from prediction markets, structural hold volatility following recent unfavorable sports outcomes, and softness in iGaming trends. They noted that iGaming has seen roughly 400 basis points of market share loss over the past 18 months, while gross gaming revenue growth slowed to low-single digits in the second quarter.
• DraftKings stock is taking a hit today. What’s behind DKNG decline?
Analyst Price Forecast UpgradesMeta Explores “Arena” Prediction AppHawkish Federal Reserve Shift Pressures Growth ValuationSector Volume Records and Market PositionDespite the equity price pressure, the prediction and gaming sector continues to experience expansion, booking $28.4 billion in May volume to mark a fourth consecutive monthly high. Bernstein estimates the market could reach $1 trillion in annual volume by the end of the decade.
DraftKings, which launched its predictive market product in 2025, maintains the number-two or -three revenue share position across its operational states, with 2025 sports revenue accounting for 63% of total sales.
DKNG Stock Price Activity: DraftKings shares were down 4.40% at $23.45 at the time of publication on Thursday, according to Benzinga Pro data.
Photo: Wirestock Creators / Shutterstock
This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Market News and Data brought to you by Benzinga APIs
Omnichain Tether (USDT) solution USDT0 has crossed the $100 billion transaction volume milestone on Wednesday, according to the team's blockchain data portal.
Lorenzo Romagnoli, co-founder of the project, told The Block he believes USDT0 is the fastest-growing stablecoin to date, having crossed this volume milestone in under 530 days since launching in January 2025.
USDT0 is a stablecoin backed 1:1 by USDT, the largest stablecoin by market capitalization. The asset was designed for easy deployment on a variety of blockchain frameworks and is currently live via native integrations on 23 chains, according to its documentation, and is accessible on six other legacy deployments via its Legacy Mesh.
The documentation notes that USDT0 support for Bitcoin scaling layer Corn is winding down on Thursday, as the Corn team shifts focus to a card product. Holders are directed to withdraw funds from Corn via Plasma. "You have until June 25, 2026, to do this at no cost," the documentation said. "After that window closes, a 10% reclaim fee applies and processing may take additional time — so the sooner the better."
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"$100 billion is evidence that the next financial system is not arriving on one chain, app, or closed network," Romagnoli said. "It is arriving through exchanges, payment companies, treasuries, fintechs, institutions, and now AI systems, all building onchain for different reasons and in different places."
There is about $4.1 billion USDT0 in circulation, according to The Block's data. USDT0's largest deployments include Ethereum scaling layer Arbitrum, Polygon and the Tether-backed Plasma blockchain. The Ethereum base layer represents its most active deployment by inbound and outbound bridge volume.
Everdawn Labs, the makers of USDT0, has also released an omnichain version of Tether’s gold-pegged stablecoin XAUt0.
Tethered The startup maintains a close relationship with Tether and Tether CEO Paolo Ardoino, as well as LayerZero Labs, which supports its underlying cross-chain technology called the Omnichain Fungible Token standard.
"Tether built the most widely used digital dollar in the world by serving the people and places traditional finance ignored," Ardoino said in a statement. "The next chapter requires that dollar to reach everywhere demand is forming, across every network, without fragmenting into wrapped versions that erode trust."
Everdawn has not raised venture funding. It lists a British Virgin Islands address on its relatively barebones corporate website, while USDT0’s terms of service document points to the British Virgin Islands Arbitration Act 2013.
Romagnoli said Everdawn has been profitable since its first quarter, though declined to offer specific "commercial figures."
"What we can say is that profitability has allowed us to operate USDT0 with a long-term security mindset rather than a short-term growth-at-all-costs model," he said. "The goal of the business is not to extract as much as possible from the network. The goal is to make Tether’s dollar and gold work across every network where demand forms, safely and sustainably."
Tether itself is among the most profitable crypto companies in operation, having recorded over $1 billion alone in first-quarter profits this year.
USDT0 is the third-largest holder of Tether, after Binance and OKX. "Tether assets already had global demand. Our job was to build the infrastructure that lets that demand move more freely," Romagnoli said.
According to a recent report, USDT0 is largely held in small amounts. As of April, 99.2% of all wallets holding USDT0 held balances of less than $1,000 worth of the stablecoin. About 1,200 have wallets held between $100,000 and $1 million, and just 35 wallets exceed $10 million. USDT0's portal notes that the average transaction size across the token's lifetime is over $110,000.
Both Ardoino and Romagnoli noted that stablecoins will have increasing application in the emergent AI-powered agentic economy. In the announcement, USDT0 co-founder Kevin Mueller noted the "high ownership team that is encouraged to safely extend their capabilities with AI."
"Institutions and autonomous agents now need a trusted dollar that behaves the same on every network they touch, settling in seconds at any hour," Ardoino, an avid supporter of decentralized AI solutions, said.
Disclaimer: The Block is an independent media outlet that delivers news, research, and data. As of November 2023, Foresight Ventures is a majority investor of The Block. Foresight Ventures invests in other companies in the crypto space. Crypto exchange Bitget is an anchor LP for Foresight Ventures. The Block continues to operate independently to deliver objective, impactful, and timely information about the crypto industry. Here are our current financial disclosures.
PANews June 26 news – Aster has officially launched AOS-1, the first module of Aster Open Standards (AOS), enabling permissionless spot token listings and allowing new tokens to access the Aster Spot market more conveniently. To enhance trading depth and liquidity, Aster simultaneously reduced the maker fee for AOS-1 trading pairs to -0.25 bps, meaning market makers receive a fee rebate upon maker order execution, forming a negative-fee incentive mechanism.
Aster CEO Leonard stated that AOS is designed to deeply integrate self-custody and permissionless deployment at the protocol level, while AOS-1 establishes a standardized framework for open spot listings and attracts more liquidity providers to participate in on-chain market making through the rebate mechanism.
Did you buy ZTS securities between January 14, 2025, and May 6, 2026?
Affected ZTS Investor Summary
Who: Zoetis Inc. (NYSE: ZTS) What: Securities fraud class action lawsuit filed Class Period: January 14, 2025 through May 6, 2026 Deadline to Seek Lead Plaintiff Status: Juy 27, 2026 Key Lawsuit Allegations: Material misstatements and/or omissions concerning the company's product adoption. Investor Action: Contact Kessler Topaz Meltzer & Check, LLP (www.ktmc.com) for recovery options , /PRNewswire/ -- Kessler Topaz Meltzer & Check, LLP (www.ktmc.com), a nationally recognized securities litigation law firm, informs investors that a securities fraud class action lawsuit has been filed against Zoetis Inc. (Zoetis) (NYSE: ZTS) on behalf of those who purchased or otherwise acquired Zoetis securities between January 14, 2025 and May 6, 2026, inclusive (the "Class Period"). The lawsuit is filed in the United States District Court for the Southern District of New York and is captioned City of Ann Arbor Retiree Health Care Benefit Plan & Trust v. Zoetis Inc., No. 26-cv-04401 (S.D.N.Y.). Investors have until July 27, 2026, to file for lead plaintiff status.
CONTACT KTMC TO DISCUSS YOUR LEGAL RIGHTS:
If you purchased or acquired Zoetis securities and have lost money on your investment, please provide your information here:
You can also contact attorney Jonathan Naji, Esq. by calling (484) 270-1453 or by email at [email protected]. There is no cost or obligation to speak with an attorney.
ZOETIS INC. CLASS ACTION LAWSUIT - COMPLAINT ALLEGATION SUMMARY:
Zoetis is an animal health company that develops, manufactures, and sells vaccines, medications, diagnostics, and more for companion and livestock animals.
The complaint alleges that, throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose material facts about the company's business, operations, and prospects. Specifically, Defendants misrepresented and/or failed to disclose that: (1) prescription growth and use of Librela, a pain treatment for dogs, was weakening following FDA safety warnings of serious neurological complications; (2) Simparica Trio, a preventative for fleas, ticks, and heartworm, was losing significant market share to a lower priced competitor; (3) the company's dermatological products, specifically Apoquel and Cytopoint, were also losing market share to competition; and (4) as a result of the foregoing, Defendants' statements about the company's business, operations, and prospects were materially false and misleading and/or lacked a reasonable basis at all relevant times.
Why did Zoetis's Stock Drop?
On May 7, 2026, Zoetis reported its 2026 first quarter financial results which showed significant decline across its Companion Animal business. On this news, Zoetis's stock price fell 21.5%.
WHAT ZTS INVESTORS CAN DO NOW:
File to be lead plaintiff by July 27, 2026. Contact KTMC for a free case evaluation. All representation is on a contingency fee basis, there is no cost to you. Retain counsel of choice or take no action. THE LEAD PLAINTIFF PROCESS FOR ZOETIS INC. INVESTORS:
Zoetis investors may, no later than July 27, 2026, seek to be appointed as a lead plaintiff representative of the class through Kessler Topaz Meltzer & Check, LLP or other counsel, or may choose to do nothing and remain an absent class member. A lead plaintiff is a representative party who acts on behalf of all class members in directing the litigation. The lead plaintiff is usually the investor or small group of investors who have the largest financial interest and who are also adequate and typical of the proposed class of investors. The lead plaintiff selects counsel to represent the lead plaintiff and the class and these attorneys, if approved by the court, are lead or class counsel. Your ability to share in any recovery is not affected by the decision of whether or not to serve as a lead plaintiff.
Kessler Topaz Meltzer & Check, LLP encourages Zoetis investors to contact the firm for more information.
ABOUT KESSLER TOPAZ MELTZER & CHECK, LLP (KTMC):
Kessler Topaz Meltzer & Check, LLP (KTMC) is a leading U.S. plaintiff-side law firm focused on securities-fraud class actions and global investor protection. The firm represents individual investors as well as institutions, such as major pension funds, asset managers, and international investors. KTMC has led some of the largest recoveries in securities litigation and has been recognized by peers and the legal media with numerous accolades, including The National Law Journal's Plaintiff's Hot List and Trailblazers in Plaintiffs' Law, BTI Consulting Group's Honor Roll of Most Feared Law Firms, The Legal Intelligencer's Class Action Firm of the Year, Lawdragon's Leading Plaintiff Financial Lawyers, and Law360's Titans of the Plaintiffs Bar. The firm operates globally with offices in Pennsylvania and California. KTMC has recovered over $25 billion for our clients and the classes they represent. For more information about Kessler Topaz Meltzer & Check, LLP, please visit www.ktmc.com. The complaint in this matter was not filed by KTMC.
CONTACT:
Jonathan Naji, Esq.
(484) 270-1453
280 King of Prussia Road
Radnor, PA 19087
[email protected]
May be considered attorney advertising in certain jurisdictions. Past results do not guarantee future outcomes.
Shares of Dell Technologies (NYSE:DELL | DELL Price Prediction) are down 6% in midday trading Thursday, last changing hands near $407 after closing at $434.06 on Wednesday. The slide stands out because it’s happening on a day when memory and storage names are ripping higher.
At the same time, Western Digital (NASDAQ:WDC) stock is up 5%, trading near $678. The split between a server and PC builder falling while a storage maker rallies tells the story of today’s market action in AI hardware stocks.
Both names have been monster performers in 2026. Dell stock is up 224% year to date through Wednesday’s close, while Western Digital stock has climbed 296% year to date. Today’s divergence isn’t subtle.
Two Sides of the Memory Boom The catalyst behind Western Digital’s move is straightforward. Memory and storage stocks rallied after Micron Technology‘s (NASDAQ:MU) blowout quarterly results “justify elevated valuations” and reinforced the view that AI capital spending keeps accelerating. Memory has been a bottleneck in the AI buildout, and that scarcity is now showing up as pricing power for the suppliers.
Western Digital is a pure-play HDD beneficiary of that dynamic. The company’s most recent quarter showed non-GAAP gross margin of 51% and revenue of $3.34 billion, up 46% year over year. CEO Irving Tan summed up the demand backdrop, stating, “Virtually every AI workload, from training, inference, agentic AI to physical AI, creates data that is stored persistently and cost-efficiently on HDDs.”
Dell’s drop today doesn’t have a single confirmed catalyst, but it likely reflects the flip side of that same memory squeeze. Dell builds servers and PCs that buy memory, so the rising prices lifting Western Digital and peers translate into input-cost pressure for Dell’s box-maker business. It’s the same dynamic behind hardware-cost worries hitting other consumer device names this week.
Margin Pressure Was Already Visible Dell’s most recent earnings made the margin issue concrete. In Q1 FY2027, the company posted revenue of $43.84 billion, up 88% year over year, alongside AI-optimized server revenue of $16.13 billion, up 757% year over year. The top-line growth here is undeniable.
Yet, the same report showed gross margin compressed to 18% from 21% year over year, with management attributing the pressure to a mix shift toward lower-margin AI servers. With memory costs climbing on top of that mix shift, the bear read on Dell today is that the margin math gets harder before it gets easier.
There’s also a simpler explanation worth flagging. After a 224% run this year, some profit-taking in Dell stock is hardly surprising. One red day after that kind of rally isn’t a thesis change.
Peers Follow the Split The divergence is showing up across the complex. SanDisk (NASDAQ:SNDK) and Micron are riding the memory bid alongside Western Digital, while assemblers and hardware makers that purchase those components are mixed at best. Capital appears to be rotating, at least for the session, toward the picks-and-shovels suppliers feeding the AI buildout rather than the box makers stitching the systems together.
Western Digital isn’t a cheap stock here. Sentiment in the WallStreetBets community spiked to a very bullish reading of 82 last week before cooling. That mix of retail enthusiasm and the scale of this year’s run means expectations are elevated.
What to Watch Western Digital reports its Q4 FY2026 results in late July, with the company guiding to revenue of $3.65 billion plus or minus $100 million and non-GAAP EPS of $3.25 plus or minus $0.15. Dell follows with Q2 FY2027 numbers in late August, with management guiding to revenue of $44 billion to $45 billion.
Investors can watch whether today’s split widens into a broader rotation between memory suppliers and hardware assemblers, or fades as the market digests Micron’s results. The next earnings cycle should clarify how much of the memory boom flows to margins, and how much gets absorbed by buyers like Dell.
