Bitcoin Cash [BCH] has been trading within a range for just over two years. Since April 2024, the once-prominent altcoin has been constrained to within the $272-$684 range.
This range is massive in both time and size, giving swing traders many more opportunities to enter the market with conviction than lower timeframe ranges might.
A month ago, AMBCrypto reported that BCH was likely to continue its downtrend after revisiting the $480-$500 magnetic zone of short liquidations.
This expectation has come to pass. The $460 short-term support zone, once ceded to the sellers, quickly gave way to a 25.16% Bitcoin Cash drop from $465 (bearish retest) to $348.3.
Has the bearish impulse move ended, or should traders expect further losses?
Technical indicators suggest an overextended market Source: BCH/USDT on TradingView The biggest sign that the impulse move downward might be over was the high-volume slide to $348, followed by a lower-timeframe bounce.
The large downward candlewick on Monday, the 18th of May, told a story of an overextended price move.
The RSI was at 26, within the oversold territory, while the Stochastic RSI appeared to form a bullish crossover. Together, they signaled a potential short-term bounce.
The Fibonacci retracement levels (cyan) were plotted using this impulse bearish move. A bounce to $418 is likely, though it can extend as high as $459 and the $489 swing high.
Therefore, traders can look to utilize a bounce to these levels to look for shorting opportunities. It must be noted that a retest of the key Fibonacci levels is not an automatic sell signal.
An internal structural shift on the lower timeframe price chart, such as the 1-hour, can be used to increase the odds of a successful trade.
It is also possible that BCH bears will not allow a sizeable bounce. Depending on the wider market sentiment in the coming days, a bounce might struggle to clear the $400 area before falling to make new lows.
Traders should avoid FOMO and have clear rules to follow before entering. Rather than buying the bounce, swing traders might find a more feasible opportunity in selling the bounce.
Final Summary The Bitcoin Cash rejection at $465 resulted in a 25% price slide that reached a swing low of $348. The current bounce is just a relief rally, and the trend continues to favor the sellers.
Australia’s corporate watchdog has warned that fake crypto platforms pushed through WhatsApp-style “trading groups” are targeting young investors with fabricated profits, fake order books and invented withdrawal fees.
Summary
ASIC says scammers are posing as “star traders” in messaging groups and steering users to fake crypto sites where deposits go straight to criminals. The regulator says young Australians are especially exposed, with 23% of people aged 18 to 28 already holding crypto and 41% reporting direct online crypto pitches. ASIC is also warning about “recovery” scams that hit victims a second time, while urging users to verify firms through AUSTRAC before sending funds. The Australian Securities and Investments Commission has issued a fresh scam alert over fraudulent crypto trading platforms promoted through WhatsApp and other messaging apps, saying the sites display fake trades and fake profits while sending victims’ money directly to scammers. In the warning published May 24, ASIC said the platforms “show profits and trades, but in fact, there is no real trading, and the site contains fake data,” adding that “any money deposited into these platforms goes straight to the scammers.”
The hook is simple and ugly. Fraudsters join or create “share trading” and “stock tips” groups, impersonate successful traders or recognizable market personalities, then funnel users to sham crypto venues that look legitimate until investors try to withdraw, at which point they are told to pay fabricated “fees to release assets or proceeds.” ASIC said those fees also “go straight to the scammers and no assets are released.”
Young Australians appear to be the preferred prey. ASIC said survey data tied to the alert shows 23% of Australians aged 18 to 28 already own crypto, 72% of Gen Z have seen crypto advertising on social media, and 41% say they have been directly pitched crypto investments online, a combination that makes them unusually reachable through the same channels scammers use to manufacture trust and urgency.
ICYMI: Australia’s ASIC has warned about a rise in crypto scams targeting young investors through social media and WhatsApp groups.
• Scammers are using fake trading apps and fake profit screenshots.
• Victims are added to “investment” group chats with fake experts.
• Users… pic.twitter.com/TrXlF2atUg
— The Crypto Times (@CryptoTimes_io) May 26, 2026 Scam mechanics are getting smarter ASIC’s warning matters because this is not a crude email fraud from 2012; it is a polished social-engineering pipeline built around app-based intimacy, fake dashboards and psychological pressure. The regulator told users to “STOP” before acting on investment advice seen on social media or in messaging groups, to “CHECK” whether a firm is licensed and whether a crypto business appears on AUSTRAC’s virtual asset service provider register, and to “PROTECT” themselves by contacting their bank immediately if money or personal data has already been sent.
That advice follows a broader pattern in Australia’s crypto scam crackdown. In a previous crypto.news report, the Australian Federal Police said Australians lost more than $122 million to crypto investment scams in the prior 12 months, with people under 50 accounting for 60% of cases. The same article noted that ASIC had coordinated the takedown of more than 7,300 phishing and scam sites since July 2023, including 615 crypto investment scams and 5,530 fake investment platforms.
The secondary fraud is even more cynical. ASIC warned that so-called fund recovery services are targeting people who were already scammed once, effectively selling false hope to victims who are desperate to retrieve lost money. European regulators have described the same tactic as “recovery room” fraud, where scammers contact prior victims and offer bogus recovery help for another fee.
Crypto still has a trust problem The uncomfortable point for the industry is that scams like this keep flourishing because crypto remains an ideal wrapper for fraud: fast settlement, global reach, weak user due diligence and a retail audience trained to chase asymmetric upside. In another crypto.news story, Coinbase warned that Gen Z users are increasingly exposed to fake websites, social media scams and recovery schemes, underlining how age and digital fluency do not automatically protect people from sophisticated fraud.
There is also nothing uniquely Australian about the playbook. A previous crypto.news article described Indian police shutting down a fake platform promoted on WhatsApp and Telegram that allegedly stole more than $90,000, while New Zealand’s FMA has issued similar warnings about fake crypto investment platforms spread through social media.
ASIC’s most useful instruction is the least glamorous one: verify before sending money. AUSTRAC says any business providing virtual asset services in Australia must be registered, and that operating such services without registration is illegal, which means the register is not a magic shield but it is still a basic filter for obvious fraud. For a sector that keeps promising mass adoption, that is the embarrassing reality: too many new users still meet crypto first through a scam.
The crypto market extended its decline as BCH, SHIB, and PEPE traded among the biggest monthly discounts. Total market value fell 1.24% to $2.46 trillion, while Bitcoin dropped 1.41% to $72k. The persistent outflow of U.S. spot Bitcoin ETFs pressed several Crypto Market Coins.
BCH Price Extends Losses After Breaking $300 Bitcoin Cash traded lower after heavy selling pushed the token below the key $300 support level. The coin fell 5.78% in 24 hours to $288.27, extending its monthly decline to 35%. BCH is now displaying one of the highest monthly discounts in crypto Market Coins.
The trading volume increased by 83.67 to a high of 220.48 million, indicating more market activity in the breakdown. In case BCH town has more than $285, short term consolidation can subsequently be effected.
Source: Tradingview Nonetheless, a decisive failure below that may reveal $275 as the second support level. Any recovery above 300 can be an early relief among the traders noting the momentum.
SHIB Price Drops 15% Monthly as Market Weakens Shiba Inu price dropped by 1.06% in 24 hours to $0.00000543, after the presentation was weak in the broader crypto market. The token is also 15% down over the last month, a following of pressure on meme coins.
The most recent action seems to be a part of a bigger risk-off action as Bitcoin and major altcoins were lower. SHIB has burned 787,927 tokens in the past 24 and total burned supply is 41.08%.
Source: SHIB burn data SHIB might stabilize at roughly 0.0000054 in case Bitcoin is at about $72,000 or higher. Nevertheless, a more significant weakness can drive the price to the $0.000005 support.
PEPE Price Faces Pressure After 15% Monthly Loss Pepe price fell 1.98% in 24 hours to $0.00000336, extending its monthly decline to 15%. The fall put PEPE in the list of the top 4 crypto market coins with the highest monthly discounts. The most recent downside was the result of a wider crypto market crash, which strained meme coins and other risky assets.
The trading volume increased by a factor of 58.63 with increased selling being experienced in the fall. In case of pressure PEPE can revisit the $0.00000328 support. But at the level of more than $0.00000334, it may indicate short-term stabilization as per the full PEPE forecast report.
In general, BCH, SHIB, and PEPE are experiencing some pressure with a weak market mood. These crypto market coins are currently trading at significant monthly discounts, and Bitcoin ETF outflows are still influencing short-term risk appetite in the altcoins and meme coins.
Bitcoin Cash cryptocurrency can be expected to fall to the next support level 200.00 (which started the sharp uptrend at the start of 2024).
Bitcoin Cash falls sharply Likely to fall to support level 200.00 Bitcoin Cash cryptocurrency recently broke sharply through the major support zone between the key support level 270.00 (which has been reversing the price from the middle of 2024, as can be seen from the weekly Bitcoin Cash chart below), support trendline of the weekly down channel from Janaury and the round support level 250.00 (former yearly low from the start of 2025). The breakout of this support zone accelerated active short-term impulse wave 3 – which belongs to the sharp downward impulse wave (3) from the start of this year – which started near the major resistance level 625.00.
Given the strength of the active impulse wave 3 and the bearish sentiment affecting crypto market at the moment, Bitcoin Cash cryptocurrency can be expected to fall to the next support level 200.00 (which started the sharp uptrend at the start of 2024).
The subject matter and the content of this article are solely the views of the author. FinanceFeeds does not bear any legal responsibility for the content of this article and they do not reflect the viewpoint of FinanceFeeds or its editorial staff.
The information does not constitute advice or a recommendation on any course of action and does not take into account your personal circumstances, financial situation, or individual needs. We strongly recommend you seek independent professional advice or conduct your own independent research before acting upon any information contained in this article.
About the Author: Karthik Subramanian
Karthik Subramanian is a founder, writer, and technology consultant with nine years in the crypto ecosystem. He covers token economics, L1/L2 infrastructure, DeFi protocols, wallets/custody, and the bridge between crypto and forex—broker technology, liquidity, and macro drivers. Karthik’s writing focuses on clear, practical frameworks that help professionals evaluate new products and on-chain innovation alongside FX market realities.
The broader crypto market has been in a downtrend since the fourth quarter of 2025, one that has extended into the present, with Bitcoin [BTC] trading around $67,000, below its yearly open.
Bitcoin Cash [BCH] follows a similar but harsher narrative. The asset has not only printed a new low; it has retraced all the way to its 2025 low as the bears take full control. At press time, BCH was closer to its all-time low than any possible path back to its all-time high.
The bears tightened their grip as BCH broke below the $271 multi-year support that had held the asset intact and forced rebounds on several earlier occasions.
Price has since slipped past its 2025 low of $249.4 as sell pressure engulfs the market. Data at press time shows volume up 114% to $513 million, with the volume profile pointing to sellers dominating for a three-day stretch.
Source: TradingView A candle close below the 2025 low would weaken BCH structurally and raise the likelihood of a deeper slide. The nearest target sits at the 2024 low of $209.9, and heavier selling could carry price further toward the $139.3 support zone.
A rebound at the 2025 low it just tagged is plausible on historical form, whether as the start of a reversal or a lower high before a fresh leg down.
Is BCH selling pressure increasing? The momentum indicators tracking this move back the bearish read, among them the Aroon Indicator.
The tool uses two lines to gauge an asset’s trend, the Aroon Up (orange) and the Aroon Down (blue). The Aroon Up above the Aroon Down points to a bullish trend; the reverse points to a bearish one, with the gap between them measuring the strength of each.
At the time of writing, the chart displayed a textbook bearish setup, with the Aroon Down at 100.00%, and the Aroon Up at 0%.
Source: TradingView The accumulation/distribution trend completed the picture by tracking volume distributed to the market over time. Notably, the data estimated the total distribution volume at 8.76 million BCH.
Distribution, though, has not fallen as steeply as price over the same stretch. That divergence, if it holds, raises the probability of a rebound at the current level.
Large holders are leading the BCH sell-off The whale-retail exchange delta, which tracks whether large holders or smaller retail traders are more active, shows whales leading the move.
Whale activity peaked on the 2nd of June, outpacing retail through the period. As long as the delta holds in the whale zone, large holders remain the dominant force behind the selling.
A cross to the red side of the chart would signal that retail has taken over the selling outright.
Source: CoinGlass Final Summary Bitcoin Cash has broken below its $271 multi-year support and slipped past its 2025 low of $249.4, opening the door to the 2024 low at $209.9 as bears take full control. The Aroon Indicator shows a textbook bearish setup with a full 100% gap, while the whale-retail delta points to large holders driving the sell-off.
Circle partners with Nomura Securities to enter the Japanese yen foreign exchange settlement service market.
Stablecoin issuer Circle plans to collaborate with Nomura Securities to launch instant foreign currency settlement for Japanese corporate clients as early as 2027. The initiative will enable large cross-border transactions to be completed immediately, aiming to boost cross-border investment and trade. This will mark the first entry of a major stablecoin issuer into Japan’s corporate transaction market, allowing companies to convert yen into US dollar-denominated stablecoins for investment and instant transfers.
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According to Hyperinsight monitoring, Cerebras (CBRS), the AI chip firm previously dubbed "Nvidia’s strongest challenger", saw its stock price fall in stages after reporting its first quarterly results since going public, as negative guidance overshadowed better-than-expected performance. The stock has dropped roughly 22% since the earnings release and officially broke below its IPO price today. On-chain whales are overall bearish. CBRS trades at $184 on the Hyperliquid platform, down 7.7% in 24 hours. Large-scale short positions (million-dollar level) total around $11.62 million, 2.39 times the long positions ($4.87 million). Two major short positions were placed precisely at high levels as early as the IPO day or even before the IPO: - Whale 0xe0ff: Shorted at $284.51 on May 14 with a 3x leveraged position of $6.13 million, generating an unrealized profit of $3.24 million (+104%); - Whale 0x9996: Shorted at $275.92 on May 11 with a 5x leveraged position of $5.48 million, generating an unrealized profit of $2.64 million (+162%). It is learned that both addresses currently hold short positions in both CBRS and SPCX, and have recorded substantial unrealized profits, preferring to place short positions at high levels before or on the day of major stock listings. With the realization of negative earnings news in this round, the combined unrealized profit of the two positions is around $5.88 million. Currently, the average entry price of CBRS short whales is around $275, and the current price is over 30% lower than that. The nearest short liquidation line is at $200.13, about 7% away from the current price.
PANews reported on June 10 that, according to PRNewswire, the Chicago Mercantile Exchange (CME Group) has launched Nasdaq CME Crypto Index futures. These contracts are settled in cash at expiration based on the value of the Nasdaq CME Crypto Settlement Price Index, which tracks the performance of the largest and most actively traded cryptocurrencies by market capitalization. As of June 9, the index included Bitcoin, Bitcoin Cash, Ethereum, Solana, XRP, Cardano, Chainlink, and Stellar.
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According to Hyperinsight monitoring, Cerebras (CBRS), the AI chip firm previously dubbed "Nvidia’s strongest challenger", saw its stock price fall in stages after reporting its first quarterly results since going public, as negative guidance overshadowed better-than-expected performance. The stock has dropped roughly 22% since the earnings release and officially broke below its IPO price today. On-chain whales are overall bearish. CBRS trades at $184 on the Hyperliquid platform, down 7.7% in 24 hours. Large-scale short positions (million-dollar level) total around $11.62 million, 2.39 times the long positions ($4.87 million). Two major short positions were placed precisely at high levels as early as the IPO day or even before the IPO: - Whale 0xe0ff: Shorted at $284.51 on May 14 with a 3x leveraged position of $6.13 million, generating an unrealized profit of $3.24 million (+104%); - Whale 0x9996: Shorted at $275.92 on May 11 with a 5x leveraged position of $5.48 million, generating an unrealized profit of $2.64 million (+162%). It is learned that both addresses currently hold short positions in both CBRS and SPCX, and have recorded substantial unrealized profits, preferring to place short positions at high levels before or on the day of major stock listings. With the realization of negative earnings news in this round, the combined unrealized profit of the two positions is around $5.88 million. Currently, the average entry price of CBRS short whales is around $275, and the current price is over 30% lower than that. The nearest short liquidation line is at $200.13, about 7% away from the current price.
Disclosure: This article does not represent investment advice. The content and materials featured on this page are for educational purposes only.
Bitcoin Cash, Litecoin, and DOGEBALL enter focus as investors seek utility, transparency, and resilience amid market uncertainty.
Summary
A recent report highlighting investor losses after a crypto-related collapse has renewed focus on risk management and the importance of evaluating projects beyond market hype. DOGEBALL is being promoted as a Layer-2 blockchain ecosystem combining payments and gaming, with features such as crypto-to-fiat transfers, play-to-earn gaming, and a token-based transaction model. The project markets its presale using projected returns based on future listing prices. The crypto market is moving very fast. A recent NDTV report shared a big warning for everyone. It showed how President Donald Trump and his family made $500 million from a crypto deal right before AI Financial Corp crashed.
That sudden crash left normal investors with massive losses. This news teaches us a major lesson for those who are looking for the top crypto to buy now. Hype can disappear in one night. Because of this, smart buyers are moving away from risky coins. They are choosing tokens with real daily use, clear math, and true safety. This easy guide looks at the data behind Bitcoin Cash, Litecoin, and a new asset called DOGEBALL to help make a smart choice.
What is DOGEBALL? DOGEBALL is a highly useful crypto network. It is built on its own fast blockchain called DOGECHAIN, which is an Ethereum Layer 2 system. It mixes online gaming with global payments. These fields are known as GameFi and PayFi. Unlike tokens that rely only on hype, this project fixes real daily problems.
Its main service is called DOGEPAY. It lets users send crypto anywhere in the world, and the person getting it receives local cash straight into their bank account. It works with over 30 global currencies. The transactions take under a second, there are zero foreign exchange fees, and do not need slow banks or payment apps.
People are joining this project because it offers safety and high demand. The DOGEBALL token is the main fuel used to pay all network transaction fees. This setup creates constant buying pressure. The token also runs a play-to-earn gaming world with a $1,000,000 total prize pool. The top player can win up to $500,000 and cash out instantly into real money. The smart contract has a perfect 100% security audit score. This makes it a very stable and safe digital asset for your portfolio.
High yield math: Analyzing the DOGEBALL presale growth potential The DOGEBALL crypto presale 2026 is built to reward people who get in early. The project has already raised more than $302,000 from over 1,050 buyers. On Monday, May 11, 2026, the team permanently burned 4,000,000,000 tokens. That removed 20% of the presale supply to make the remaining tokens scarcer. The crypto presale has 22 stages in total. Each stage lasts a maximum of 7 days and ends every Monday at 21:00 UTC. When the stage ends, unsold tokens are burned and the price goes up.
Buying at the current Stage 7 price of $0.000845 gives investors a huge mathematical advantage. The token will launch on big crypto exchanges at $0.015.
Let us look at the basic return on investment (ROI) calculation:
Current Stage Price: $0.000845 Planned Launch Price: $0.015 Expected Launch Gain: 1,675.14% These gains can be grown even more by using the special bonus code DB30. This code gives a 30% bonus on tokens. For example, putting $1,000 into the project today gets around 1,183,431 tokens. By typing the code DB30, the total amount jumps to 1,538,460 tokens. When the token hits the exchange at the $0.015 launch price, the investment becomes worth $23,076. That is a total profit of 2,207.6%. Prices go up every single Monday at 21:00 UTC. This means today is the best chance to buy at this low price before the next weekly increase.
How to join the DOGEBALL presale right now Joining the presale is easy and takes less than five minutes. Follow these quick steps to get tokens before the price steps up:
Step 1: Get a Crypto Wallet
Download a free digital wallet like MetaMask or Trust Wallet on a phone or computer.
Step 2: Add funds to the Wallet
Buy or transfer Ethereum (ETH), USDT, or BNB into the new digital wallet.
Step 3: Link to the Website
Go to the official DOGEBALL website and link the wallet using the live presale widget.
Step 4: Use the Code and Buy
Type in how much to buy. Enter the code DB30 to get 30% extra tokens, and click confirm.
Bitcoin Cash: Stable performance with limited growth Bitcoin Cash is a well-known coin used for daily payments, but its fast growth has slowed down. According to the latest price prediction data from CoinCodex, Bitcoin Cash is in a flat trend. Its long-term moving average has been pointing downward since late May 2026. This shows that the market is hitting a wall.
The coin faces tough resistance around the $540 to $550 price levels. CoinCodex charts show that the token is expected to trade between $439.79 and $642.10 over the coming months. It is still a safe network for sending decentralized payments. However, its chance for massive short-term gains is very small. It cannot scale microtransactions as fast as newer Layer 2 systems.
Litecoin: Slow recovery in a quiet market Litecoin is often called the silver to Bitcoin’s gold, but it is dealing with short-term price drops. CoinCodex market data shows that Litecoin recently fell from 14,408.40 PKR down to 11,819.97 PKR. That is a quick 17.96% drop in value in early June 2026. The network is now working to find a steady price floor.
Market experts state that Litecoin’s relative strength index is sitting in a completely neutral zone. This means that while the coin is safe from huge crashes, it does not have the momentum to spike upward quickly. It lacks built-in features like automatic crypto-to-bank cash-outs. This makes it less exciting for buyers who want large returns.
Conclusion: Finding the top crypto to buy now For those who want the top crypto to buy now, they should avoid overhyped projects that can crash. Legacy networks like Bitcoin Cash and Litecoin are safe, but they offer small, slow returns. The DOGEBALL presale gives a clear and transparent entry point at just $0.000845 today. Because the exchange launch price is locked at $0.015, early buyers can lock in large predictable gains before public trading opens. Do not wait and miss out on this rate. Use the code DB30 right now to claim a 30% token bonus before the price jumps this Monday at 21:00 UTC.
For more information, visit the official website, Telegram, and X.
FAQs for top crypto to buy now What is the best crypto to invest in right now? DOGEBALL is an excellent choice because it pairs a low-priced crypto presale with massive real utility. Its Layer 2 system runs an app that sends crypto straight to global bank accounts as fiat cash, creating constant market demand.
Which crypto has 1000x potential? Early presale coins with real utility have the best upside. Buying DOGEBALL at $0.000845 before its $0.015 exchange debut gives a strong head start. Regular weekly supply burns keep cutting down the total token numbers to drive value.
Which crypto has the most potential? Tokens that fix real financial problems hold the most potential. DOGEBALL removes expensive middlemen and cuts global wire fees to zero. This operational use attracts real businesses and users, giving it an advantage over hype coins.
What is the best way to double $1000? Putting money into the DOGEBALL presale is a highly efficient move. Entering the presale at today’s low price and applying the bonus code DB30 instantly increases the token count by 30% for a much higher launch value.
Which coin has the best future? Coins built on specialized, high-speed blockchains have the strongest future. DOGEBALL runs on a custom Ethereum Layer 2 called DOGECHAIN. This setup means near-zero gas fees and instant speeds, making it perfect for long-term global growth.
Disclosure: This content is provided by a third party. Neither crypto.news nor the author of this article endorses any product mentioned on this page. Users should conduct their own research before taking any action related to the company.
The crypto market is facing a difficult period. Bitcoin Cash price has fallen by more than 25% over the past week, while Ethereum price today continues holding near a critical support area that could trigger deeper losses if it fails.
Heavy selling activity is weighing on both assets, and neither currently offers strong confidence to market participants. As uncertainty grows, many are increasingly asking the same question: what crypto to buy now?
BlockDAG (BDAG) presents a different approach. Through its active Legacy Sale, BDAG is available for only $0.00000044 per coin and is supported by a buyback program offering $0.03 per coin. Alongside this, the ecosystem continues expanding through its casino platform, growing miner deployment, and additional utility developments. During a volatile market, this structured setup is gaining significant attention.
Bitcoin Cash Price Continues to Raise Concerns Recent performance in the Bitcoin Cash price has been among its weakest in a long time. BCH lost approximately $82 during the past week and now trades near $223. This places it well below its major weekly moving averages, including the MA-20 at $447, MA-50 at $515, and even the MA-200 at $338.
Most major technical indicators continue showing weakness. RSI, Stochastic RSI, CCI, MACD, and the Awesome Oscillator all point toward downward momentum. While BCH currently sits in oversold territory, that alone does not guarantee an immediate recovery.
For the coming week, analysts expect Bitcoin Cash price to remain within a range of roughly $220 to $230. Even if prices move toward the upper end of that range, upside remains limited. Anyone asking what crypto to buy now may struggle to find a strong short-term argument for BCH. Large buyers have not yet returned, overhead resistance remains strong, and the broader structure still favors sellers.
Ethereum Price Today Faces a Critical Test Pressure continues building around Ethereum price today after the asset dropped 6.67% in the last 24 hours to approximately $1,654. Two major factors are driving the decline.
Institutional demand has weakened considerably. U.S. spot Ethereum ETFs have now recorded outflows for 17 consecutive sessions, with the latest withdrawal reaching $53 million. This marks the longest outflow streak since these products launched. At the same time, long-term buyers reduced accumulation activity by nearly 80% within just two days.
Another major factor came from liquidations. Nearly $400 million worth of leveraged ETH long positions were wiped out over a 24-hour period, creating additional selling pressure and accelerating the decline.
The RSI currently sits near 12.17, showing deeply oversold conditions. If ETH successfully holds above $1,714, a recovery toward $1,893 remains possible. However, a breakdown could push the asset toward $1,550. For those wondering what crypto to buy now, Ethereum may require patience before stronger signals emerge.
BlockDAG’s Buyback Structure Creates a Different Opportunity While much of the crypto market continues struggling, the question of what crypto to buy now becomes less about avoiding losses and more about finding a clearly defined opportunity. This is where BlockDAG is drawing significant attention. Its Legacy Sale and buyback structure are creating a setup that differs greatly from many other projects currently available.
The Legacy Sale is now active with BDAG priced at only $0.00000044 per coin. Eligible participants can register their holdings through the dashboard and access the buyback program, which offers $0.03 per BDAG.
Current participants can register directly through the dashboard for the buyback program. Legacy Sale users benefit from uncapped daily sell limits, while existing holders also have access through BDAG Swap at 30% below market value. Those existing holders can submit up to 250 million BDAG per wallet each day at $0.00025 per coin through the dedicated buyback route.
Beyond the buyback model, the ecosystem continues expanding. The casino platform is growing, mining activity continues increasing, and new integrations remain under development. For anyone seriously evaluating what crypto to buy now, many see this as a limited window before participation levels increase further.
Final Thoughts Both Bitcoin Cash price and Ethereum price today continue reflecting a market facing heavy pressure. Selling activity remains strong, recovery attempts remain uncertain, and confidence across major assets continues to be tested.
This environment explains why many people searching for what crypto to buy now are paying closer attention to BlockDAG. While BCH and ETH may require extended patience and could face additional downside, BlockDAG offers a structured model through its buyback program and Legacy Sale.
The ecosystem continues expanding through casino growth, miner deployment, and increasing participation. With the Legacy Sale available at $0.00000044, a buyback value of $0.03, and a separate $0.00025 route for existing holders, the opportunity is attracting significant attention. For those seeking clarity during uncertain market conditions, what crypto to buy now is increasingly becoming a question that leads many directly toward BlockDAG.
Presale: https://purchase.blockdag.network Website: https://blockdag.network Telegram: https://t.me/blockDAGnetworkOfficial Discord: https://discord.gg/Q7BxghMVyu Disclaimer: TheNewsCrypto does not endorse any content on this page. The content depicted in this Press Release does not represent any investment advice. TheNewsCrypto recommends our readers to make decisions based on their own research. TheNewsCrypto is not accountable for any damage or loss related to content, products, or services stated in this Press Release.
PANews reported on June 16th that, according to SoSoValue data, most sectors in the crypto market rose, with the PayFi sector performing particularly well, up 4.03% in the last 24 hours. Specifically, Stellar (XLM) rose 13.54%, and Bitcoin Cash (BCH) rose 6.45%. Meanwhile, Bitcoin (BTC) rose 1.16%, breaking through $66,000; Ethereum (ETH) rose 4.48%, breaking through $1,700.
In other sectors, the DeFi sector rose 2.48% in the last 24 hours, with Uniswap (UNI) up 10.72%; the Layer 1 sector rose 1.26%, with Zcash (ZEC) up 8.46%; the Layer 2 sector rose 0.80%, with Celestia (TIA) up 6.91%; and the CeFi sector rose 0.45%, with MX (MX) up 3.12%.
In addition, the Meme sector fell 0.44%, but SPX6900 (SPX) rose 7.57%; the AI sector fell 0.52%, while Worldcoin (WLD) remained relatively strong, rising 6.13%; the NFT sector fell again by 13.12%, and within the sector, Audiera (BEAT) fell 24.25%.
Bitcoin Cash [BCH], despite a strong run this year, could face another major decline that drives the asset toward $100, according to new on-chain insight.
Data across the spot and perpetual markets point to building selling pressure, with key indicators flashing the risk of a deeper move lower.
Bitcoin Cash faces a possible 50% decline The Aloha on-chain signal, an indicator that has marked the tops and bottoms of asset prices on multiple occasions, shows that neither target has been met for BCH so far.
At press time, data from Alphractal places BCH in the middle of that range, between its top and bottom. Joao Wedson, senior analyst and founder of Alphractal, said he would not be surprised by a further BCH drop despite the asset’s record.
“Even with this impressive track record, I would not be surprised if BCH still falls further.”
Source: Alphractal If a drop materializes, the signal indicates the price would likely find a floor near $100—the level that typically marks its bottom—roughly 50% below where it trades now.
Wedson added that nothing guarantees the decline, noting that “no market ever gives certainty.” However, AMBCrypto reviewed the wider spot and derivatives data to gauge how that move could play out.
BCH whales place large orders but lean short CryptoQuant data shows near-neutral sentiment across BCH’s spot and perpetual markets, though two indicators stand out and point to a rising risk of a bearish move. The average whale order size shows large holders firmly in control, averaging 229.96 BCH, about $44,688 at press time.
That control raises concern because the market’s funding rate has flipped to a negative 0.0028%, suggesting most perpetual-market capital sits in short positions.
Source: CryptoQuant The spot cumulative volume delta tells a similar story, with selling volume outpacing buying. The spot CVD shows taker sellers dominating the market, a trend that has held for weeks alongside BCH’s decline.
If the metric stays in that bearish direction, it would weigh on price and could extend BCH’s losses well below current levels, though it does not confirm a fall to $100.
BCH decouples from Bitcoin BCH has broken away from Bitcoin, with the 20-day correlation coefficient sliding to 0.24 after holding near 1.0 through much of May and early June.
That reading marks a weak positive link rather than the near-lockstep movement of prior weeks; the two assets have largely stopped trading in tandem, though they are not yet moving inversely.
Source: TradingView The breakdown matters because BCH has fallen hard, dropping from above $600 late last year to around $200. If the de-correlation holds while Bitcoin trades sideways or rallies, BCH could extend its slide on its own, or the relationship could snap back.
For now, the prospect of a short-term BCH decline remains in place, leaving the asset exposed to further downside.
Final Summary Analysts say Bitcoin Cash could lose roughly half its value, sliding from around $200 toward the $100 mark, though no one is calling that drop a certainty. BCH has started moving on its own rather than shadowing Bitcoin, which means its next move may not follow the broader market in either direction.
The migration comes just months after Cosmos announced it’s stepping back from efforts to turn the Cosmos Hub into a smart contract platform as TVL declines.
NilChain, a privacy-focused blockchain built with the Cosmos SDK by Nillion, is winding down operations on Cosmos as part of broader shifts across the interoperability-focused ecosystem.
In an X announcement on Feb. 17, the team said the network will halt operations on March 23, urging holders of the NIL token to migrate their assets to Ethereum before the shutdown.
NilChain was designed as a network for secure computation. But the chain has seemingly not been able to reach broad usage inside the Cosmos ecosystem.
Leaving Cosmos, however, doesn’t mark an end to Nillion itself, as the company plans to continue operating on Ethereum. Amid the news, nilChain’s native token NIL briefly jumped over 10% on the day to $0.06 and is currently trading around $0.053, per data from CoinGecko.
It remains unclear why the team decided to migrate away from Cosmos. The Nillion team declined to comment on the record by press time.
NilChain may not be widely known compared with larger Layer 1 or Layer 2 networks, but Nillion has raised sizable funding. In December 2022, the company closed a roughly $20 million seed round led by Distributed Global, with participation from GSR Markets and HashKey.
It raised another $25 million in October 2024 in a round led by Hack VC, with backing from the Arbitrum Foundation, Worldcoin, Sei, HashKey Capital, and Animoca Brands.
Exodus from CosmosThe move comes as Cosmos itself reassesses its direction. In July 2025, the Cosmos Hub scrapped plans to add native smart contract support, citing high costs and weak developer demand. Teams that had planned to deploy applications on the Hub were encouraged to build on other Cosmos-based chains instead.
That shift forced a reset for many teams and coincided with a wave of departures. Since mid-2025, several projects have announced exits or wind-downs across the Cosmos ecosystem.
The stablecoin-focused project Noble said earlier in January of this year it would leave Cosmos to launch its own EVM-compatible L1, saying the team wants to “meet users and developers where they already are.” Others have taken different paths with chains like Pryzm and Quasar announcing shutdowns or significant changes.
Some have publicly said they are leaving Cosmos after years of struggling with liquidity, user distribution, and developer traction following the collapse of Terra in 2022. Others, including infrastructure providers, argue the ecosystem still makes sense for teams focused on interoperability rather than consumer DeFi.
TVL, app revenue and fees on Cosmos Hub. Source: DefiLlamaThe Cosmos Hub itself has also seen declining activity. Data from DefiLlama shows total value locked on the network falling from about $2.65 million to roughly $131,000 earlier this month, the lowest level on record.
Network fees have also dropped sharply. By January, fees reached an all-time low of around $218,000, with only four of the 11 protocols deployed on the Cosmos Hub generating any revenue.
ATOM, the native token of Cosmos Hub, is down about 4% over the past 24 hours, though it rallied over 18% in the past week, per CoinGecko.
Cosmos Hub (ATOM) price rebounds, trading above $2.05 at the time of writing on Wednesday, after undergoing a sharp correction since last week. Weakening on-chain and derivatives data support a bearish outlook, while technical analysis remains unfavorable.
ATOM selling pressure persistsSantiment’s Social Dominance metric for Cosmos Hub supports a bearish outlook. The index measures the share of ATOM-related discussions across the cryptocurrency media. It has been in a downward trend since mid-January, falling again in February to 0.416% on Wednesday. This fall indicates fading market interest and weakening sentiment among ATOM investors.
ATOM Social Dominance chart. Source: SantimentOn the derivatives side, ATOM’s negative funding rates further project bearish sentiment. The metric turns negative on Wednesday and stands at -0.0147%, nearing levels seen on Sunday, when ATOM prices dropped sharply the next day. The negative ratio suggests that shorts are paying longs, suggesting bearish sentiment toward Cosmos Hub.
Cosmos Hub funding rates chart. Source: CoinglassIn addition, ATOM’s long-to-short ratio stood at 0.92 on Wednesday and has been above 1 only once this month, signaling that traders are reluctant to add long positions. This ratio below 1 indicates bearish sentiment as traders are betting on the Cosmos Hub price to fall.
ATOM long-to-short ratio chart. Source: CoinglassCosmos Hub Price Forecast: ATOM bears cap recoveryATOM is trading at $2.05 as of writing on Wednesday. The near-term tone turns cautiously bullish after the rebound from sub-$2.00 levels, though price still trades well below the 50- and 100-day Exponential Moving Averages (EMAs), which are clustered above $2.19 and $2.39 and cap the broader trend.
The Relative Strength Index (RSI) at 44 recovers from oversold territory and points higher, hinting at improving but not yet dominant buying pressure. The Moving Average Convergence Divergence (MACD) line has slipped marginally below the signal line and back toward the zero mark, while the histogram has contracted, tempering upside conviction and suggesting an emerging consolidation phase after the recent bounce.
Immediate support aligns at the 38.2% Fibonacci retracement of the $1.65–$2.70 advance at $2.05, where the current price is attempting to stabilize, followed by stronger support at the prior horizontal floor around $1.83.
A sustained hold above $2.05 would keep the corrective recovery in play and open the way toward initial resistance at the 50% retracement at $2.17, with the 61.8% retracement at $2.29 next and the horizontal resistance at $2.57 guarding the upper boundary of the range.
On the downside, a daily close below $2.05 would expose the 23.6% retracement at $1.90 and shift the focus back to the lower support band near $1.83.
(The technical analysis of this story was written with the help of an AI tool.)
Cosmos Hub (ATOM) steadies near $1.82 at the time of writing on Monday, following a 20% decline the previous week. Weakening on-chain and derivatives data support a bearish outlook, while technical analysis remains unfavorable. In addition, risk-off sentiment persists, as the escalating military aggression in the Middle East over the weekend continues to weigh on the crypto market.
On-chain and derivatives data show bearish biasDefiLlama data shows that Cosmos Hub’s Total Value Locked (TVL) drops to $138,370 on Monday, and has been steadily declining since mid-January. Falling TVL signals weakening activity and waning user engagement in ATOM’s ecosystem, implying that fewer participants are depositing or interacting with ATOM-based protocols, which doesn’t bode well for its price.
ATOM TVL chart. Source: DefiLlamaDerivatives data for Cosmos Hub also support a bearish outlook. Coinglass’s OI-Weighted Funding Rate data shows that the number of traders betting that the price of ATOM will slide further is higher than those anticipating a price increase. The metric flipped to a negative rate on Thursday and stands at -0.127% on Monday, indicating shorts are paying longs and suggesting bearish sentiment toward ATOM.
Cosmos Hub funding rates chart. Source: CoinglassCosmos Hub Price Forecast: Bears in control of the momentumCosmos Hub is trading at $1.82 as of Monday. The near-term bias stays mildly bearish, as price holds below the 50- and 100-day Exponential Moving Averages (EMAs), which continue to trend lower and cap recovery attempts. ATOM also trades under the 23.6% Fibonacci retracement at $1.90, measured from $2.69 (January 14 high) to $1.65 (February 6 low), underscoring a failed attempt to sustain above this initial corrective resistance on Sunday.
Momentum remains weak, with the Relative Strength Index (RSI) on the daily chart at 36, indicating subdued buying interest, and the Moving Average Convergence Divergence (MACD) declining below its signal line and the zero mark, signaling persistent downside pressure.
Immediate resistance at $1.83 is reinforced by the abovementioned 23.6% Fibonacci retracement at $1.90, and a daily close above this band would be needed to ease selling pressure and open the way toward the 38.2% Fibonacci retracement at $2.05 and the 50-day EMA near $2.12.
On the downside, the $1.80 area acts as the first line of support ahead of the recent $1.65 swing low, where previous demand emerged.
A break below $1.65 would extend the dominant downtrend and expose lower levels, while only a sustained move back above $2.05 would start to neutralize the current bearish tone.
(The technical analysis of this story was written with the help of an AI tool.)
PANews reported on April 3 that the NFT project Intergaze announced on the X platform that it is gradually shutting down, and all users must withdraw their assets within 14 days. NFT holders' NFTs will be migrated to StargazeZone on Cosmos Hub in late May. Users need to register a Cosmos wallet before May 1 to be included in the migration.
Author: PA一线
This content is for market information only and is not investment advice.
Circle partners with Nomura Securities to enter the Japanese yen foreign exchange settlement service market.
Stablecoin issuer Circle plans to collaborate with Nomura Securities to launch instant foreign currency settlement for Japanese corporate clients as early as 2027. The initiative will enable large cross-border transactions to be completed immediately, aiming to boost cross-border investment and trade. This will mark the first entry of a major stablecoin issuer into Japan’s corporate transaction market, allowing companies to convert yen into US dollar-denominated stablecoins for investment and instant transfers.
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Institutions' Preview: Overview of US May Core PCE Price Index Monthly Rate
The US May core Personal Consumption Expenditures (PCE) Price Index monthly rate will be released tonight at 20:30 (UTC+8). Below are the forecasts from multiple institutions: Sumitomo Mitsui Banking Corporation: 0.2%; Royal Bank of Canada: 0.2%; JPMorgan Chase: 0.3%; Goldman Sachs Group: 0.3%; Bank of Montreal: 0.3%; Moody's Corporation: 0.3%; Standard Chartered: 0.3%; UniCredit: 0.3%; ING Group: 0.3%; HSBC Holdings: 0.3%; BNP Paribas: 0.4%; Wells Fargo: 0.4%; Capital Economics: 0.4%; Citigroup: 0.4%; Deutsche Bank: 0.4%; Nomura Securities: 0.4%; Pantheon Macroeconomics: 0.4%; Société Générale: 0.4%; Scotiabank: 0.4%; Morgan Stanley: 0.4%
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DA Davidson Raises Micron’s Price Target to $2,000, Retains Buy Rating
U.S. investment bank DA Davidson released a research note stating that Micron Technology has entered a new phase with one of the best performance visibility in the semiconductor industry, a stark contrast to its past standing in the sector. Driven by another quarter of results that handily exceeded expectations and positive forward guidance, Micron’s stock price surged sharply. These signals indicate that the current memory chip boom cycle is far from over. While the company is ramping up capacity investments (with capital expenditure (CAPEX) projected to hit $10 billion in the fourth quarter of fiscal 2026, which will bring additional supply), management expects the memory market to remain tight on supply and demand at least through 2027. Against this backdrop, DA Davidson reiterated its "Buy" rating on Micron and raised its price target from $1,500 to $2,000, equivalent to a 20x price-to-earnings (P/E) ratio based on the company’s 2026 calendar year expected earnings per share (EPS).
8 minutes ago
Morgan Stanley raises Micron's price target to $1,200, maintains 'Overweight' rating.
Morgan Stanley released a report raising Micron Technology (MU.O)’s price target from $1,050 to $1,200, while maintaining an "Overweight" rating. The investment bank lifted its fiscal 2027 earnings per share (EPS) forecast for the chipmaker by roughly 40% to $168, and upgraded its free cash flow (FCF) projection from $104 billion to $140 billion. Aligning with Micron’s management, the bank holds that AI will push DRAM demand to consistently outpace supply significantly after 2027. Micron’s last fiscal quarter results matched this trend, with both its quarterly performance and outlook showing notable upside potential.
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US officials: Israel has withdrawn troops from parts of the buffer zone in southern Lebanon.
A U.S. State Department official said Israel has withdrawn from parts of the buffer zone in southern Lebanon, describing the move as a "goodwill gesture" toward the Lebanese government.
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CBRS trades below IPO price post-earnings: Erases all gains six weeks after listing, two smart money firms net $5.8 million from first-day IPO shorts.
According to Hyperinsight monitoring, Cerebras (CBRS), the AI chip firm previously dubbed "Nvidia’s strongest challenger", saw its stock price fall in stages after reporting its first quarterly results since going public, as negative guidance overshadowed better-than-expected performance. The stock has dropped roughly 22% since the earnings release and officially broke below its IPO price today. On-chain whales are overall bearish. CBRS trades at $184 on the Hyperliquid platform, down 7.7% in 24 hours. Large-scale short positions (million-dollar level) total around $11.62 million, 2.39 times the long positions ($4.87 million). Two major short positions were placed precisely at high levels as early as the IPO day or even before the IPO: - Whale 0xe0ff: Shorted at $284.51 on May 14 with a 3x leveraged position of $6.13 million, generating an unrealized profit of $3.24 million (+104%); - Whale 0x9996: Shorted at $275.92 on May 11 with a 5x leveraged position of $5.48 million, generating an unrealized profit of $2.64 million (+162%). It is learned that both addresses currently hold short positions in both CBRS and SPCX, and have recorded substantial unrealized profits, preferring to place short positions at high levels before or on the day of major stock listings. With the realization of negative earnings news in this round, the combined unrealized profit of the two positions is around $5.88 million. Currently, the average entry price of CBRS short whales is around $275, and the current price is over 30% lower than that. The nearest short liquidation line is at $200.13, about 7% away from the current price.
PANews reported on April 3rd that, according to an official announcement, the Cosmos ecosystem wallet Leap Wallet and its associated products, including Compass Wallet, Leap WebApp, and Swapfast, will be officially shut down on May 28, 2026. Users must complete asset migration before this date. Leap Wallet is a non-custodial wallet; user assets are stored on the blockchain and can be accessed again by restoring the mnemonic phrase and importing into other compatible wallets such as Keplr, MetaMask, Phantom, or Rabby. If users have delegated ATOM to Leap's Cosmos Hub validators, they should re-delegate to other validators to continue earning staking rewards.
TLDR: Leap Wallet will sunset all products, including extensions and mobile apps, on May 28, 2026, across iOS and Android. Users can migrate safely using their recovery phrase, as Leap is non-custodial and assets remain on the blockchain at all times. ATOM delegators staking with Leap’s Cosmos Hub validator must redelegate early due to network unbonding period delays. After the May 28 deadline, all installed Leap apps will stop functioning, though fund recovery via recovery phrase remains fully possible. Leap Wallet has officially announced that it will discontinue all its products on May 28, 2026. The crypto wallet provider has been active since 2022, serving users across more than 100 blockchain networks.
The shutdown covers extensions, mobile apps, and several associated services. Users are advised to begin migrating their assets to other supported wallets ahead of the deadline.
All core wallet functions will remain available until that date to allow a smooth transition.
Products Scheduled for Discontinuation After the May Deadline The shutdown affects a broad range of products tied to the Leap ecosystem. These include Leap Wallet browser extensions and mobile versions on iOS and Android.
Compass Wallet, the Leap WebApp, and the Swapfast service are also on the list. Leap Cosmos Hub Validator and Leap Cosmos Snaps will be discontinued as well.
The team behind Leap shared the news through an official tweet. They noted the wallet was launched to change what crypto wallet experiences could offer users.
Since launch, it expanded to support over 100 chains across multiple ecosystems. The post also reflected the care and responsibility the team felt toward its user base.
In the announcement tweet, the team wrote that the decision to shut down was not made lightly. They added that they continue to believe in the long-term future of the crypto space.
Leap Wallet: Sunset Notice
After careful consideration, we've made the decision to sunset Leap Wallet and its associated products.
The products will be sunset on 28th May, 2026, and all users should complete their migration before then.
We started Leap in 2022 to redefine what…
— Leap Wallet | Sunset on 28th May (@leap_wallet) April 2, 2026
They also extended appreciation to partners and users who supported the product over the years. The message was direct, measured, and absent of any bitterness or blame.
Until May 28, 2026, all listed products will retain their existing core functionality. Users can still view balances, send tokens, and manage their staking positions.
Exporting recovery phrases and private keys will also remain available throughout this period. No core feature will be removed before the official sunset date arrives.
What Users Must Do Before the Shutdown Date Users holding assets in Leap Wallet are encouraged to move to another wallet provider. The team recommended Keplr, MetaMask, Phantom, and Rabby as compatible alternatives.
Since Leap is a non-custodial wallet, assets are held on the blockchain and not within the app. This means migration does not require any complex transfer of funds between addresses.
Any user with a recovery phrase can import it directly into another supported wallet. That process will restore all addresses and balances automatically across compatible chains.
No manual transfers are necessary for this to work correctly. Starting early reduces the risk of delays or missed steps before the deadline.
Those who delegated ATOM to Leap’s Cosmos Hub validator must also take a separate action. They need to redelegate to another validator to keep earning staking rewards.
Network unbonding periods can stretch over several days, so acting promptly matters. A detailed migration guide with full instructions is available at leapwallet.io.
After May 28, 2026, all Leap products will stop functioning, including already-installed apps. Users who miss the deadline can still recover their funds using their recovery phrase.
Importing it into any compatible wallet will restore full access to holdings. Migration support remains available at [email protected] until the shutdown date.
Cosmos Hub (ATOM) price extends its rally, trading above $2.10 at the time of writing on Wednesday, up over 8% so far this week. On-chain data shows a bullish bias, with ATOM’s trading volume surging to a three-month high. In addition, constructive technical analysis and growing optimism about Injective (INJ) and Cosmos Hub partnerships are boosting ATOM’s upside momentum.
Trading volume hits multi-month highsThe Cosmos Hub ecosystem’s trading volume (the aggregate trading volume generated by all exchange applications on the chain) reached $120.74 million on Wednesday, the highest level not seen since early February. This volume rise indicates a surge in traders’ interest and liquidity in ATOM, boosting its bullish outlook.
ATOM trading volume chart. Source: SantimentIn addition, CryptoQuant summary data suggests a neutral to slightly bullish outlook for ATOM. Spot markets show buy-side dominance, with mostly neutral conditions across other metrics, suggesting a potential upside move.
Cosmos Hub partners with InjectiveOn Monday, Cosmos Hub announced on its official X account that USDC, a stablecoin from Injective, will be available across its ecosystem soon.
“This integration solidifies long-term USDC support in the ecosystem via Injective for at least 4 years. The integration will be rolled out over the coming months,” said the Cosmos Hub X post.
Additionally, migration support will begin with the dYdX rollout, while Cross-Chain Transfer Protocol (CCTP) integration will enable one-signature transfers. The protocol fees generated from these transactions will also be used to buy back ATOM tokens programmatically.
This announcement is bullish for Cosmos Hub and its native token ATOM in the long term, as it strengthens liquidity, improves cross-chain interoperability, and introduces a potential long-term demand driver through the token buyback mechanism. In the short term, ATOM’s price has been rallying, gaining over 8% so far this week.
Cosmos Hub Price Forecast: ATOM bull aiming for the $2.34 markATOM price trades at $2.15 on Wednesday, up over 8% so far this week. ATOM holds above the 50-day and 100-day Exponential Moving Averages (EMAs) at $1.903 and $1.97, keeping the near-term structure tilted higher as it pushes further away from the broken descending trend line, whose break price is near $1.74.
The Relative Strength Index (RSI) on the daily chart has surged into overbought territory around 75, and the Moving Average Convergence Divergence (MACD) line remains above zero with a positive spread versus its signal line, suggesting strong but potentially stretched bullish momentum as price approaches higher structural caps.
On the topside, initial resistance emerges at the 200-day EMA around $2.34, followed by the 38.2% Fibonacci retracement at roughly $2.39; a sustained break above this cluster would expose the 50% retracement near $2.63 and the 61.8% Fibonacci retracement level around $2.88.
On the downside, the 23.6% Fibonacci retracement at $2.09 acts as immediate support ahead of the 100-day EMA at $1.97 and the 50-day EMA near $1.90, with a more solid horizontal floor seen around $1.84; losing these layers would risk a deeper pullback toward the former trendline break area at $1.75 and the lower horizontal support near $1.65.
(The technical analysis of this story was written with the help of an AI tool.)
PANews reported on June 4th that, according to The Block, Cosmos Labs has acquired Mintscan, the blockchain explorer within the Cosmos ecosystem, and established a new subsidiary, Cosmos Labs Korea, in Seoul. This subsidiary will be responsible for the unified development of key infrastructure such as Mintscan, Skip:Go, IBC Eureka, and Cosmos Hub. Some Mintscan employees will join Cosmos Labs, while other businesses of the original parent company, Stamper, will remain unaffected.
Circle partners with Nomura Securities to enter the Japanese yen foreign exchange settlement service market.
Stablecoin issuer Circle plans to collaborate with Nomura Securities to launch instant foreign currency settlement for Japanese corporate clients as early as 2027. The initiative will enable large cross-border transactions to be completed immediately, aiming to boost cross-border investment and trade. This will mark the first entry of a major stablecoin issuer into Japan’s corporate transaction market, allowing companies to convert yen into US dollar-denominated stablecoins for investment and instant transfers.
8 minutes ago
Institutions' Preview: Overview of US May Core PCE Price Index Monthly Rate
The US May core Personal Consumption Expenditures (PCE) Price Index monthly rate will be released tonight at 20:30 (UTC+8). Below are the forecasts from multiple institutions: Sumitomo Mitsui Banking Corporation: 0.2%; Royal Bank of Canada: 0.2%; JPMorgan Chase: 0.3%; Goldman Sachs Group: 0.3%; Bank of Montreal: 0.3%; Moody's Corporation: 0.3%; Standard Chartered: 0.3%; UniCredit: 0.3%; ING Group: 0.3%; HSBC Holdings: 0.3%; BNP Paribas: 0.4%; Wells Fargo: 0.4%; Capital Economics: 0.4%; Citigroup: 0.4%; Deutsche Bank: 0.4%; Nomura Securities: 0.4%; Pantheon Macroeconomics: 0.4%; Société Générale: 0.4%; Scotiabank: 0.4%; Morgan Stanley: 0.4%
8 minutes ago
DA Davidson Raises Micron’s Price Target to $2,000, Retains Buy Rating
U.S. investment bank DA Davidson released a research note stating that Micron Technology has entered a new phase with one of the best performance visibility in the semiconductor industry, a stark contrast to its past standing in the sector. Driven by another quarter of results that handily exceeded expectations and positive forward guidance, Micron’s stock price surged sharply. These signals indicate that the current memory chip boom cycle is far from over. While the company is ramping up capacity investments (with capital expenditure (CAPEX) projected to hit $10 billion in the fourth quarter of fiscal 2026, which will bring additional supply), management expects the memory market to remain tight on supply and demand at least through 2027. Against this backdrop, DA Davidson reiterated its "Buy" rating on Micron and raised its price target from $1,500 to $2,000, equivalent to a 20x price-to-earnings (P/E) ratio based on the company’s 2026 calendar year expected earnings per share (EPS).
8 minutes ago
Morgan Stanley raises Micron's price target to $1,200, maintains 'Overweight' rating.
Morgan Stanley released a report raising Micron Technology (MU.O)’s price target from $1,050 to $1,200, while maintaining an "Overweight" rating. The investment bank lifted its fiscal 2027 earnings per share (EPS) forecast for the chipmaker by roughly 40% to $168, and upgraded its free cash flow (FCF) projection from $104 billion to $140 billion. Aligning with Micron’s management, the bank holds that AI will push DRAM demand to consistently outpace supply significantly after 2027. Micron’s last fiscal quarter results matched this trend, with both its quarterly performance and outlook showing notable upside potential.
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US officials: Israel has withdrawn troops from parts of the buffer zone in southern Lebanon.
A U.S. State Department official said Israel has withdrawn from parts of the buffer zone in southern Lebanon, describing the move as a "goodwill gesture" toward the Lebanese government.
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CBRS trades below IPO price post-earnings: Erases all gains six weeks after listing, two smart money firms net $5.8 million from first-day IPO shorts.
According to Hyperinsight monitoring, Cerebras (CBRS), the AI chip firm previously dubbed "Nvidia’s strongest challenger", saw its stock price fall in stages after reporting its first quarterly results since going public, as negative guidance overshadowed better-than-expected performance. The stock has dropped roughly 22% since the earnings release and officially broke below its IPO price today. On-chain whales are overall bearish. CBRS trades at $184 on the Hyperliquid platform, down 7.7% in 24 hours. Large-scale short positions (million-dollar level) total around $11.62 million, 2.39 times the long positions ($4.87 million). Two major short positions were placed precisely at high levels as early as the IPO day or even before the IPO: - Whale 0xe0ff: Shorted at $284.51 on May 14 with a 3x leveraged position of $6.13 million, generating an unrealized profit of $3.24 million (+104%); - Whale 0x9996: Shorted at $275.92 on May 11 with a 5x leveraged position of $5.48 million, generating an unrealized profit of $2.64 million (+162%). It is learned that both addresses currently hold short positions in both CBRS and SPCX, and have recorded substantial unrealized profits, preferring to place short positions at high levels before or on the day of major stock listings. With the realization of negative earnings news in this round, the combined unrealized profit of the two positions is around $5.88 million. Currently, the average entry price of CBRS short whales is around $275, and the current price is over 30% lower than that. The nearest short liquidation line is at $200.13, about 7% away from the current price.
PANews, June 20 – The privacy-focused public chain project Namada has officially issued a statement confirming that a vulnerability exploit incident occurred. The project team has launched a comprehensive investigation and is coordinating with multiple security agencies to handle the situation.
The official statement indicated that if the operator behind this incident is a white-hat hacker, they are welcome to proactively contact the project team, cooperate in disclosing the vulnerability details, and work together on vulnerability remediation and risk mitigation.
On-chain monitoring data shows that ATOM assets related to this attack were transferred via an IBC cross-chain channel to an address on Cosmos Hub. The address received 228,517 ATOM on June 18, and the funds were fully transferred out within a few hours through multiple IBC transfer operations, leaving only a small balance in the wallet.
As of now, Namada has not yet publicly disclosed the cause of the vulnerability, the attack execution path, or the specific amount of asset losses caused by this attack. All related investigation efforts are still ongoing, and the complete investigation conclusions will be disclosed subsequently.
Circle partners with Nomura Securities to enter the Japanese yen foreign exchange settlement service market.
Stablecoin issuer Circle plans to collaborate with Nomura Securities to launch instant foreign currency settlement for Japanese corporate clients as early as 2027. The initiative will enable large cross-border transactions to be completed immediately, aiming to boost cross-border investment and trade. This will mark the first entry of a major stablecoin issuer into Japan’s corporate transaction market, allowing companies to convert yen into US dollar-denominated stablecoins for investment and instant transfers.
8 minutes ago
Institutions' Preview: Overview of US May Core PCE Price Index Monthly Rate
The US May core Personal Consumption Expenditures (PCE) Price Index monthly rate will be released tonight at 20:30 (UTC+8). Below are the forecasts from multiple institutions: Sumitomo Mitsui Banking Corporation: 0.2%; Royal Bank of Canada: 0.2%; JPMorgan Chase: 0.3%; Goldman Sachs Group: 0.3%; Bank of Montreal: 0.3%; Moody's Corporation: 0.3%; Standard Chartered: 0.3%; UniCredit: 0.3%; ING Group: 0.3%; HSBC Holdings: 0.3%; BNP Paribas: 0.4%; Wells Fargo: 0.4%; Capital Economics: 0.4%; Citigroup: 0.4%; Deutsche Bank: 0.4%; Nomura Securities: 0.4%; Pantheon Macroeconomics: 0.4%; Société Générale: 0.4%; Scotiabank: 0.4%; Morgan Stanley: 0.4%
8 minutes ago
DA Davidson Raises Micron’s Price Target to $2,000, Retains Buy Rating
U.S. investment bank DA Davidson released a research note stating that Micron Technology has entered a new phase with one of the best performance visibility in the semiconductor industry, a stark contrast to its past standing in the sector. Driven by another quarter of results that handily exceeded expectations and positive forward guidance, Micron’s stock price surged sharply. These signals indicate that the current memory chip boom cycle is far from over. While the company is ramping up capacity investments (with capital expenditure (CAPEX) projected to hit $10 billion in the fourth quarter of fiscal 2026, which will bring additional supply), management expects the memory market to remain tight on supply and demand at least through 2027. Against this backdrop, DA Davidson reiterated its "Buy" rating on Micron and raised its price target from $1,500 to $2,000, equivalent to a 20x price-to-earnings (P/E) ratio based on the company’s 2026 calendar year expected earnings per share (EPS).
8 minutes ago
Morgan Stanley raises Micron's price target to $1,200, maintains 'Overweight' rating.
Morgan Stanley released a report raising Micron Technology (MU.O)’s price target from $1,050 to $1,200, while maintaining an "Overweight" rating. The investment bank lifted its fiscal 2027 earnings per share (EPS) forecast for the chipmaker by roughly 40% to $168, and upgraded its free cash flow (FCF) projection from $104 billion to $140 billion. Aligning with Micron’s management, the bank holds that AI will push DRAM demand to consistently outpace supply significantly after 2027. Micron’s last fiscal quarter results matched this trend, with both its quarterly performance and outlook showing notable upside potential.
8 minutes ago
US officials: Israel has withdrawn troops from parts of the buffer zone in southern Lebanon.
A U.S. State Department official said Israel has withdrawn from parts of the buffer zone in southern Lebanon, describing the move as a "goodwill gesture" toward the Lebanese government.
8 minutes ago
CBRS trades below IPO price post-earnings: Erases all gains six weeks after listing, two smart money firms net $5.8 million from first-day IPO shorts.
According to Hyperinsight monitoring, Cerebras (CBRS), the AI chip firm previously dubbed "Nvidia’s strongest challenger", saw its stock price fall in stages after reporting its first quarterly results since going public, as negative guidance overshadowed better-than-expected performance. The stock has dropped roughly 22% since the earnings release and officially broke below its IPO price today. On-chain whales are overall bearish. CBRS trades at $184 on the Hyperliquid platform, down 7.7% in 24 hours. Large-scale short positions (million-dollar level) total around $11.62 million, 2.39 times the long positions ($4.87 million). Two major short positions were placed precisely at high levels as early as the IPO day or even before the IPO: - Whale 0xe0ff: Shorted at $284.51 on May 14 with a 3x leveraged position of $6.13 million, generating an unrealized profit of $3.24 million (+104%); - Whale 0x9996: Shorted at $275.92 on May 11 with a 5x leveraged position of $5.48 million, generating an unrealized profit of $2.64 million (+162%). It is learned that both addresses currently hold short positions in both CBRS and SPCX, and have recorded substantial unrealized profits, preferring to place short positions at high levels before or on the day of major stock listings. With the realization of negative earnings news in this round, the combined unrealized profit of the two positions is around $5.88 million. Currently, the average entry price of CBRS short whales is around $275, and the current price is over 30% lower than that. The nearest short liquidation line is at $200.13, about 7% away from the current price.
Circle partners with Nomura Securities to enter the Japanese yen foreign exchange settlement service market.
Stablecoin issuer Circle plans to collaborate with Nomura Securities to launch instant foreign currency settlement for Japanese corporate clients as early as 2027. The initiative will enable large cross-border transactions to be completed immediately, aiming to boost cross-border investment and trade. This will mark the first entry of a major stablecoin issuer into Japan’s corporate transaction market, allowing companies to convert yen into US dollar-denominated stablecoins for investment and instant transfers.
8 minutes ago
Institutions' Preview: Overview of US May Core PCE Price Index Monthly Rate
The US May core Personal Consumption Expenditures (PCE) Price Index monthly rate will be released tonight at 20:30 (UTC+8). Below are the forecasts from multiple institutions: Sumitomo Mitsui Banking Corporation: 0.2%; Royal Bank of Canada: 0.2%; JPMorgan Chase: 0.3%; Goldman Sachs Group: 0.3%; Bank of Montreal: 0.3%; Moody's Corporation: 0.3%; Standard Chartered: 0.3%; UniCredit: 0.3%; ING Group: 0.3%; HSBC Holdings: 0.3%; BNP Paribas: 0.4%; Wells Fargo: 0.4%; Capital Economics: 0.4%; Citigroup: 0.4%; Deutsche Bank: 0.4%; Nomura Securities: 0.4%; Pantheon Macroeconomics: 0.4%; Société Générale: 0.4%; Scotiabank: 0.4%; Morgan Stanley: 0.4%
8 minutes ago
DA Davidson Raises Micron’s Price Target to $2,000, Retains Buy Rating
U.S. investment bank DA Davidson released a research note stating that Micron Technology has entered a new phase with one of the best performance visibility in the semiconductor industry, a stark contrast to its past standing in the sector. Driven by another quarter of results that handily exceeded expectations and positive forward guidance, Micron’s stock price surged sharply. These signals indicate that the current memory chip boom cycle is far from over. While the company is ramping up capacity investments (with capital expenditure (CAPEX) projected to hit $10 billion in the fourth quarter of fiscal 2026, which will bring additional supply), management expects the memory market to remain tight on supply and demand at least through 2027. Against this backdrop, DA Davidson reiterated its "Buy" rating on Micron and raised its price target from $1,500 to $2,000, equivalent to a 20x price-to-earnings (P/E) ratio based on the company’s 2026 calendar year expected earnings per share (EPS).
8 minutes ago
Morgan Stanley raises Micron's price target to $1,200, maintains 'Overweight' rating.
Morgan Stanley released a report raising Micron Technology (MU.O)’s price target from $1,050 to $1,200, while maintaining an "Overweight" rating. The investment bank lifted its fiscal 2027 earnings per share (EPS) forecast for the chipmaker by roughly 40% to $168, and upgraded its free cash flow (FCF) projection from $104 billion to $140 billion. Aligning with Micron’s management, the bank holds that AI will push DRAM demand to consistently outpace supply significantly after 2027. Micron’s last fiscal quarter results matched this trend, with both its quarterly performance and outlook showing notable upside potential.
8 minutes ago
US officials: Israel has withdrawn troops from parts of the buffer zone in southern Lebanon.
A U.S. State Department official said Israel has withdrawn from parts of the buffer zone in southern Lebanon, describing the move as a "goodwill gesture" toward the Lebanese government.
8 minutes ago
CBRS trades below IPO price post-earnings: Erases all gains six weeks after listing, two smart money firms net $5.8 million from first-day IPO shorts.
According to Hyperinsight monitoring, Cerebras (CBRS), the AI chip firm previously dubbed "Nvidia’s strongest challenger", saw its stock price fall in stages after reporting its first quarterly results since going public, as negative guidance overshadowed better-than-expected performance. The stock has dropped roughly 22% since the earnings release and officially broke below its IPO price today. On-chain whales are overall bearish. CBRS trades at $184 on the Hyperliquid platform, down 7.7% in 24 hours. Large-scale short positions (million-dollar level) total around $11.62 million, 2.39 times the long positions ($4.87 million). Two major short positions were placed precisely at high levels as early as the IPO day or even before the IPO: - Whale 0xe0ff: Shorted at $284.51 on May 14 with a 3x leveraged position of $6.13 million, generating an unrealized profit of $3.24 million (+104%); - Whale 0x9996: Shorted at $275.92 on May 11 with a 5x leveraged position of $5.48 million, generating an unrealized profit of $2.64 million (+162%). It is learned that both addresses currently hold short positions in both CBRS and SPCX, and have recorded substantial unrealized profits, preferring to place short positions at high levels before or on the day of major stock listings. With the realization of negative earnings news in this round, the combined unrealized profit of the two positions is around $5.88 million. Currently, the average entry price of CBRS short whales is around $275, and the current price is over 30% lower than that. The nearest short liquidation line is at $200.13, about 7% away from the current price.
@chainlink has unveiled Project Pangea, a cross-border foreign exchange initiative that draws together more than 50 financial institutions across Europe and South Korea in a bid to replace the traditional two-day currency settlement cycle with near-instant, blockchain-based transactions.
Who Is Involved and What They Are Building The coalition brings together Chainlink, FairSquareLab, UniKA (Unified Korea Alliance), whose steering committee includes Shinhan Bank, JB Bank, Kbank, FairSquareLab and OBDIA along with more than 10 participating Korean commercial banks, and Qivalis, a euro stablecoin consortium powered by 37 leading European banks. The banks collectively represent over $10 trillion in assets under management.
The initiative is designed to unlock the direct, atomic swap of regulated, fiat-referenced digital assets, including euro and Korean won stablecoins, by leveraging Chainlink's data, interoperability and orchestration standards alongside FairSquareLab's onchain FX settlement technology.
The project aims to move foreign exchange settlement from a traditional 48-hour (T+2) timeline toward near-instant (T+0) settlement using regulated euro- and South Korean won-pegged stablecoins. The initiative will evaluate whether the stablecoins can be exchanged through atomic payment-versus-payment (PvP) settlement, in which both sides of a currency trade settle simultaneously or not at all, thereby reducing counterparty and settlement risk.
How the Technology Works, and Why the Corridor Matters Rather than forcing legacy financial institutions to overhaul their systems, Project Pangea intends to act as a middleware translator. Banks will trigger transactions using Swift, and Chainlink's infrastructure will translate those commands into instant atomic swaps on a neutral, independent ledger called the Pangea L1 Network. This enables existing financial systems to connect to public and private blockchain networks using the same ISO 20022 messaging standards and infrastructure they have used for decades.
The initiative is focusing on the trade corridor between Europe and South Korea, an economic artery that processes over $150 billion in goods and services annually, making it one of the world's 15 largest trade routes. Chainlink's vice president for Asia-Pacific, Niki Ariyasinghe, said the goal is not a proof of concept. The target is live transactions within a legal, regulatory compliance framework within the next 12 months.
Qivalis, the Amsterdam-based euro stablecoin consortium, is led by former Coinbase Germany executive Jan-Oliver Sell and is anticipated to launch in the second half of 2026 as Europe's answer to dominant US dollar stablecoins. The global FX market processes over $9.6 trillion in daily trading volume, and yet the traditional banking system faces major bottlenecks due to existing market infrastructure and fragmented market structure. Project Pangea is positioned as a direct response to those inefficiencies.
Sources
Chainlink and Multinational Banking Consortia Launch Project Pangea (PR Newswire)
Chainlink Teams Up With 47 South Korean, European Banks (CoinDesk)
Chainlink, Korean and European Banks Launch Project Pangea (Crypto Briefing)
Chainlink has joined forces with banking organizations in Europe and South Korea to launch a new working group focused on investigating the use of stablecoins in foreign exchange (FX) settlement. This initiative underscores an increasing trend of testing blockchain-based infrastructures aimed at modernizing traditional financial systems.
Project Pangea brings together banks and blockchainAnnounced on Tuesday, Project Pangea unites Chainlink and South Korea-based digital asset infrastructure firm FairSquareLab with the Unified Korea Alliance (UniKA)—a consortium of more than a dozen South Korean commercial banks—and the Qivalis euro stablecoin consortium, which is backed by 37 European banks. The collaboration signals an expanding cross-border approach to blockchain adoption in institutional finance.
Under the project’s framework, the direct and atomic swap of euro- and won-denominated stablecoins will be explored. The partners plan to leverage Chainlink’s data infrastructure alongside FairSquareLab’s on-chain FX settlement technology to facilitate these seamless transactions.
Mini glossary: An atomic swap enables two digital assets to be exchanged simultaneously within a single transaction flow. The process settles only if both parties meet their conditions; otherwise, the transaction is void.
Project Pangea aims to bring together financial institutions from Europe and South Korea to assess how euro- and won-based stablecoins can be settled directly using atomic swaps.
Evaluation phase, not a live payment networkAt this stage, the initiative is established as a working group rather than an active payment network, with no official timeline for moving toward production. Still, Project Pangea stands out as the latest example of banks exploring how tokenized deposits and regulated stablecoin models could enhance cross-border payments and settlements.
According to the Bank for International Settlements, global FX markets see a daily trading volume of approximately $9.6 trillion. This scale highlights why financial institutions are prioritizing institutional-level settlement infrastructures for efficiency and security.
Similar moves and growth projectionsComparable initiatives are emerging in other regions as well. The fintech startup OpenFX recently secured $94 million in funding to expand its stablecoin-based payment network, initially targeting Southeast Asia and Latin America as key markets.
Global financial institutions are paying closer attention to stablecoin integration in response to clearer regulatory frameworks in the United States and Europe. Notably, the focus is on wholesale infrastructure and institutional payments rather than retail or consumer transactions, reflecting an evolution in stablecoin use cases.
Citigroup forecasts rapid expansionRipple CEO Brad Garlinghouse recently described a pivotal moment for stablecoins, noting that financial entities are actively exploring how to integrate this technology into their operations.
Brad Garlinghouse observed that the industry has entered a critical phase as more financial institutions evaluate strategies for adopting stablecoins within their operational models.
Citigroup projects that the global stablecoin market could rise from its current level of around $315 billion to $1.9 trillion by 2030. The bank suggests that this projected growth could be driven by continued adoption in crypto markets, a gradual shift from physical US dollar banknotes to digital dollars, and the increasing use of stablecoins as short-term liquidity instruments—for both US dollar and local currency holdings. In Citigroup’s most optimistic scenario, the market could reach $4 trillion by 2030.
The expansion of initiatives like Project Pangea illustrates how collaboration between blockchain firms and major banking groups might transform the landscape of global payments and settlement. Banks’ focus on regulated, tokenized solutions marks a significant shift in how institutions address cross-border transaction challenges.
As global transaction volumes continue to rise, industry stakeholders are closely monitoring pilot projects and working groups that could set the stage for next-generation financial settlement infrastructure. The push toward blockchain-powered stablecoin settlement is expected to reshape the operational models of banks worldwide in the years ahead.
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.
Key HighlightsBanking Consortium Tests Direct EUR-KRW Digital Asset ExchangeChainlink Infrastructure Bridges Legacy Banking and Blockchain TechnologyFairSquareLab Develops Specialized Currency Exchange ProtocolFinancial Institutions Pursue Enhanced International Settlement Systems Chainlink collaborates with banking institutions to pilot stablecoin foreign exchange infrastructure.
Project Pangea focuses on direct euro and Korean won stablecoin exchanges.
Financial institutions test immediate T+0 settlement for international currency transfers.
FairSquareLab develops specialized blockchain-based FX settlement technology.
Chainlink bridges traditional Swift infrastructure with distributed ledger settlement networks.
A consortium of leading financial institutions has partnered with Chainlink to introduce Project Pangea, an innovative stablecoin foreign exchange settlement system connecting European and South Korean markets. The experimental platform will facilitate direct transactions between regulated digital versions of the euro and Korean won. This initiative seeks to accelerate international payment processing while reducing reliance on traditional intermediary currency channels.
Banking Consortium Tests Direct EUR-KRW Digital Asset Exchange Project Pangea unites banking organizations from Europe and South Korea through a cooperative task force framework. The technical and institutional partnership includes FairSquareLab, UniKA, Qivalis, and Chainlink as primary contributors. Qivalis operates a euro stablecoin alliance backed by 37 financial institutions across Europe.
UniKA coordinates South Korean participation and brings together more than ten commercial banking entities. The steering body features representation from Shinhan Bank, JB Bank, Kbank, FairSquareLab and OBDIA. These participants will evaluate enterprise-grade settlement mechanisms for digital euro and won assets.
The platform will enable synchronized Payment-versus-Payment exchanges between regulated digital currencies. This approach ensures simultaneous settlement of both transaction sides, eliminating sequential payment processing. The framework is designed to minimize counterparty exposure and enable real-time T+0 execution.
Chainlink Infrastructure Bridges Legacy Banking and Blockchain Technology Chainlink will deliver data feeds, cross-network compatibility, and transaction coordination for the settlement infrastructure. The technology stack will integrate established banking platforms with both public and permissioned blockchain architectures. Financial institutions can maintain ISO 20022 messaging protocols and current Swift connectivity.
Chainlink CCIP will facilitate euro stablecoin movement between originating networks and the Korean won settlement blockchain. This capability addresses liquidity fragmentation challenges across multiple distributed ledger environments. Chainlink Data Streams will provide real-time foreign exchange rate information to power the settlement mechanism.
The Chainlink Runtime Environment will convert traditional banking commands into executable blockchain operations. It will also synchronize activities between Swift messaging infrastructure and connected blockchain platforms. This architecture enables financial institutions to leverage onchain settlement while preserving established communication frameworks.
FairSquareLab Develops Specialized Currency Exchange Protocol FairSquareLab will contribute its blockchain-based foreign exchange settlement platform alongside the Pangea Layer 1 network. The liquidity mechanism relies on validated exchange rate data rather than algorithmic bonding curves. The system incorporates volume restrictions to prevent liquidity pool depletion.
The Pangea network will house the core foreign exchange settlement smart contract on independent infrastructure. The protocol prioritizes oracle price feed processing ahead of other transactions in each block cycle. This sequencing ensures swap operations utilize current market rates during execution.
The comprehensive framework encompasses banking integration, connectivity middleware, and settlement execution layers. Chainlink handles the connectivity components, while Pangea smart contracts manage settlement across supported blockchains. Compatible networks may encompass Ethereum, Polygon, and the purpose-built Pangea blockchain.
Financial Institutions Pursue Enhanced International Settlement Systems The worldwide foreign exchange marketplace handles approximately $9.6 trillion in daily transaction volume. Current infrastructure frequently requires financial institutions to route through bridge currencies and execute multiple settlement stages. These procedures can extend processing timelines and increase working capital requirements.
Project Pangea currently functions as an experimental collaboration rather than an operational payment system. The participating organizations have not disclosed a commercial launch timeline or complete rollout plan. The initiative represents another institutional exploration of stablecoins within professional financial infrastructure.
Banking and corporate sectors have intensified stablecoin research as regulatory structures mature across key financial jurisdictions. Additional initiatives similarly address commercial payments, tokenized bank deposits, and multinational currency settlement. Chainlink seeks to facilitate this transition through standardized data delivery and cross-blockchain connectivity solutions.
Oliver Dale
Editor-in-Chief of Blockonomi and founder of Kooc Media, A UK-Based Online Media Company. Believer in Open-Source Software, Blockchain Technology & a Free and Fair Internet for all. His writing has been quoted by Nasdaq, Dow Jones, Investopedia, The New Yorker, Forbes, Techcrunch & More. Contact [email protected]
Chainlink’s native token LINK has returned to the forefront of the crypto market, driven by technical indicators, heightened institutional interest, and real-world applications of its network. Some market observers now believe that, after a lengthy period of weakness, LINK may be setting the stage for a broader recovery.
Technical setup signals accumulation phaseAccording to Gann Wyck, the GannWyck Model 1 accumulation structure is evident for LINK on higher timeframes. This suggests that, following a prolonged multi-year downtrend after its previous cycle peaks, LINK may be approaching the final phase of its accumulation cycle.
Chainlink is recognized as one of the largest oracle networks supplying data to decentralized finance applications. Analysts point out that this accumulation pattern extends beyond just price charts, reflecting broader network growth and strengthening fundamentals.
Mini glossary: An oracle network provides infrastructure for bringing off-chain data to smart contracts. Chainlink leads this sector, delivering price feeds and various external data flows to on-chain applications.
Key factors supporting this view include increased attention to Grayscale’s ETF application, purchases from Caliber Investments, and Chainlink’s expanding role in data infrastructure. Additionally, BNB Chain’s adoption of Chainlink’s data standards in the context of US public data initiatives has also been highlighted.
According to analysts, LINK is nearing the end of its accumulation period at a key support zone following an extended decline, with both price structure and the expanding network utility seen as intertwined factors.
Main support zone and critical price rangesAfter peaking near $30 at the end of 2024, LINK has spent the past two years in a prolonged downtrend, characterized by a series of lower highs and lower lows. Continuous selling pressure has pushed the price into the $7 to $8 range, now seen as a stable support zone in the current landscape.
In particular, the $6.50 to $7.50 region is seen as crucial for accumulation, with multiple defense layers identified there. Conversely, a decisive move back above $10 could signal that the downtrend has weakened and renewed buying appetite is emerging.
In a potential stepwise recovery scenario, analysts identify target ranges at $13–15, then $18–20, and later $25–27. Looking further ahead, the $28–30 band is also mentioned as a long-term goal.
Broader upside prospects in weekly chartCrypto Patel provides another perspective, noting that LINK has been confined to a downward channel since its 2021 peak near $50. Recent weekly action shows the price moving back into a strong accumulation zone over the past three weeks.
This analysis highlights the $4.75 to $7.85 range as a strong accumulation band. After falling roughly 86%–87% from its previous highs, LINK has returned to this range, which some analysts believe could serve as a base for a new upward trend.
If LINK breaks above the upper boundary of this channel, the first target is around $21.35, with the previous cycle high near $52.22 as the next key level. More optimistic, long-term projections even mention the $100 area for the 2028–2029 period. However, these figures are based on technical analysis and price predictions, not guarantees.
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.
Chainlink is embedding itself into the plumbing of international banking. The oracle network announced its participation in Project Pangea, a cross-border settlement initiative involving 47 banks across Europe and South Korea that collectively manage over $10 trillion in assets.
The goal is straightforward but ambitious: replace the current two-day settlement window for EUR-KRW foreign exchange transactions with near real-time, same-day finality.
How Project Pangea actually works The initiative, built in collaboration with Qivalis and UniKA, brings together 37 European banks and over 10 South Korean banks on a dedicated Pangea Layer 1 blockchain network. The mechanism at the core is something called atomic payment-versus-payment, or PvP, which ensures both sides of a currency exchange settle simultaneously or not at all.
The currencies themselves are represented as euro-pegged and Korean won-pegged stablecoins, regulated digital versions of the fiat currencies that can move on blockchain rails. This matters because the Europe-South Korea trade corridor processes over $150 billion in annual volume.
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Project Pangea integrates with Swift messaging and complies with ISO 20022 standards, the global standard for electronic data interchange between financial institutions. Banks can plug in without a painful migration.
The project’s partners are targeting compliant live transactions within 12 months.
Why this corridor, why now Asia as a whole accounts for 60% of global stablecoin payments, making the region the natural proving ground for regulated digital currency infrastructure.
The current T+2 settlement cycle creates counterparty risk, ties up capital, and introduces the possibility that one side of a trade defaults before settlement completes. Moving to T+0 eliminates most of that risk. Capital that was previously locked up as collateral during the settlement window gets freed immediately.
Chainlink’s institutional footprint includes prior work with Swift on cross-chain interoperability and various tokenization pilots with major banks. In January 2026, Chainlink also partnered with the Global Alliance for KRW Stablecoins in South Korea. Qivalis itself expanded from an original group of 12 European banks to 37 by May 2026, all working toward the creation of regulated euro-pegged stablecoins.
What this means for investors Project Pangea is designed around compliance from day one, using regulated stablecoins and existing banking standards. The involvement of 47 banks managing over $10 trillion in assets gives the project a scale targeting a real trade corridor of over $150 billion in annual volume with a 12-month timeline for live transactions.
The risk is execution. A 12-month timeline is aggressive given the regulatory complexity of operating across European and South Korean jurisdictions simultaneously. The difference here may be the economic incentive: $150 billion in annual trade volume creates significant motivation to ship.
Investors should watch for two signals over the coming year. First, whether any of the participating banks publicly confirm their involvement and commit resources beyond the initial announcement. Second, whether regulators in both jurisdictions provide the clarity needed for euro and KRW stablecoins to function within existing compliance frameworks.
Disclosure: This article was edited by Editorial Team. For more information on how we create and review content, see our Editorial Policy.
TLDR: Project Pangea unites 47+ European and Korean banks to pursue atomic T+0 FX settlement via stablecoins. Chainlink CCIP, Data Streams, and the Runtime Environment form the project’s core connectivity layer. FairSquareLab’s Pangea L1 enforces oracle-first transaction ordering for real-time interbank FX swaps. Qivalis and its 37-bank euro stablecoin consortium serve as the EUR anchor for Project Pangea flows. Chainlink has joined forces with European and South Korean banking consortia to launch Project Pangea, a working group targeting real-time T+0 foreign exchange settlement through stablecoin infrastructure.
A Multi-Trillion Dollar Push for Atomic FX Settlement Project Pangea brings together Chainlink, FairSquareLab, UniKA, and Qivalis under one strategic task force. The coalition collectively represents over $10 trillion in assets under management.
UniKA’s steering committee includes Shinhan Bank, JB Bank, Kbank, FairSquareLab, and OBDIA. More than ten additional Korean commercial banks are participating in the initiative alongside them.
The global FX market processes over $9.6 trillion in daily trading volume. Despite this scale, the traditional infrastructure remains fragmented and slow.
Cross-border transactions often require institutions to convert capital through intermediary currencies, causing delays.
Project Pangea targets this bottleneck directly through atomic Payment-versus-Payment swaps of regulated EUR and KRW stablecoins.
Chainlink Labs President of Capital Markets Fernando Vazquez described the launch as a structural shift rather than an incremental upgrade, saying the project “upgrades the fragmented foreign exchange model of today with direct, atomic currency swaps using stablecoins.”
The initiative uses ISO 20022 messaging standards and existing Swift infrastructure to bridge legacy systems with blockchain rails.
This means participating banks do not need to overhaul internal payment operations to connect. Vazquez added that Project Pangea represents “a clear signal that global finance is increasingly moving onchain.”
FairSquareLab CEO Joonhong Kim pointed to a broader strategic outcome for South Korea, stating that “for Korea, Project Pangea is more than an efficiency gain — it opens a path for the Korean won to connect more directly with global currency markets.”
The initiative also aims to reduce the won’s dependence on intermediary currencies in cross-border flows. Kim noted that FairSquareLab, leading the UniKA alliance alongside Qivalis and Chainlink, is “building a network that brings the Korean banking sector into a new era of real-time, cross-border settlement.“ That alone marks a structural change for Korean institutions operating across international corridors.
Three-Layer Architecture Powers the Settlement Network The technical design of Project Pangea is built across three distinct layers. The banking layer handles Swift and ISO 20022 payment messaging.
The connectivity layer runs through Chainlink’s CCIP and Data Streams infrastructure. Settlement occurs at the third layer through Pangea AMM smart contracts deployed on Ethereum, Polygon, and the Pangea L1 network.
FairSquareLab’s Pangea L1 is a settlement-dedicated blockchain operating from neutral ground, independent of any single country or participating bank.
At the protocol level, oracle data updates execute ahead of every other transaction in each block. This design ensures all FX swaps settle against the current market price without manipulation risk.
Banks continue using familiar payment messaging, with instructions translated into onchain settlement actions through Chainlink CCIP.
Chainlink’s Cross-Chain Interoperability Protocol handles secure EUR stablecoin transfers between native networks and the KRW settlement chain. Data Streams feed real-time FX market data into the Proactive Market Maker engine.
The Chainlink Runtime Environment serves as the orchestration layer between Swift and the blockchain settlement stack.
Together, these components allow institutions to plug into onchain finance through their existing messaging systems.
Qivalis Head of Partnerships APAC Jean-Luc Gustave outlined the capital efficiency case for global institutions, saying that “migrating to a friction-free cross-border model could unlock significant capital efficiency by eliminating traditional settlement risk and reducing intraday liquidity costs.”
He framed the project as proof that next-generation infrastructure can “optimize international trade corridors” beyond theoretical use cases.
Qivalis’s euro stablecoin consortium, backed by 37 European banks, stands to become a core currency layer within the network.
The initiative positions regulated stablecoins as institutional-grade instruments for high-volume FX flows between Europe and Asia.
FairSquareLab’s onchain FX engine anchors price discovery to trusted oracle quotes rather than bonding curves, while per-asset depletion barriers protect pool liquidity from exhaustion during large interbank conversions.
The result is a predictable settlement structure built to handle institutional scale. Enterprise fees within the Chainlink ecosystem are programmatically converted to LINK tokens and stored in the Chainlink Reserve to support long-term network sustainability.
Project Pangea is designed to scale into a multi-currency settlement network as additional corridors and institutions join the working group.
Chainlink has partnered with banking consortiums in Europe and South Korea to launch Project Pangea, a working group dedicated to enabling same-day, real-time settlement of cross-border FX transactions. The initiative aims to allow instant currency swaps between regulated euro and Korean won stablecoins, leveraging advanced blockchain and messaging technologies to transform the way international payments are processed.
A new settlement model bridging Europe and AsiaProject Pangea brings together Chainlink, FairSquareLab, UniKA, and Qivalis under a unified structure. The consortium reportedly represents over $10 trillion in aggregated assets. UniKA’s steering committee is comprised of Shinhan Bank, JB Bank, Kbank, FairSquareLab, and OBDIA, with participation from more than 10 additional South Korean commercial banks, signaling broad institutional support from both regions.
Global foreign exchange markets currently see daily transaction volumes around $9.6 trillion. Yet, the fragmented infrastructure and lengthy processing times create extra costs and delays, particularly in cross-border transfers. Project Pangea seeks to minimize reliance on intermediary currencies and offers an atomic swap model based on payment-versus-payment principles, addressing a longstanding industry bottleneck.
Fernando Vazquez, Head of Capital Markets at Chainlink Labs, highlighted that the initiative is designed to revamp today’s fragmented FX environment by enabling direct and atomic swaps of currencies through stablecoins.
The report notes that Project Pangea integrates the ISO 20022 messaging standard with the existing Swift network. This allows participating banks to connect to the platform without overhauling their internal payment systems. Chainlink, known for its cross-blockchain data and messaging services, provides the crucial connectivity layer powering this system.
Three-layer technical architecture stands outThe technical stack behind Project Pangea is built on three main layers. The first is anchored in bank messaging using Swift and ISO 20022 standards. The second relies on Chainlink’s CCIP (Cross-Chain Interoperability Protocol), Data Streams, and Runtime Environment solutions. Settlement occurs on the third layer through smart contracts deployed across Ethereum, Polygon, and the custom Pangea L1 blockchain.
Quick glossary: CCIP is an interoperability protocol developed for secure messaging and asset transfers between different blockchains. ISO 20022 serves as a global financial messaging standard, providing uniform data formats for banks and payment systems.
Developed by FairSquareLab, the Pangea L1 chain is described as a consensus-focused blockchain untied to any single country or bank. At a protocol level, it ensures that oracle data feeds are processed with each block before any other transactions, allowing FX swaps to settle at current market prices and mitigating the risk of price manipulation.
Joonhong Kim, CEO of FairSquareLab, noted that the project enables the Korean won to connect directly with global currency markets—a change that goes beyond efficiency to represent a fundamental shift for the nation’s financial system.
Qivalis and the euro stablecoin take center stageQivalis, a euro stablecoin consortium backed by 37 European banks, forms a foundational currency layer within the network. By using Chainlink’s CCIP, euro stablecoin transfers can occur securely across multiple blockchains and link seamlessly with the settlement chain for Korean won. Real-time FX rates are integrated through Chainlink’s Data Streams, providing up-to-the-second pricing for all transactions.
Jean-Luc Gustave, Head of APAC Partnerships at Qivalis, emphasized that moving to a lower-friction model for cross-border payments could reduce traditional settlement risk and significantly boost intraday liquidity efficiency. The program is positioned to expand regulated stablecoin use among institutions for high-volume currency flows between Europe and Asia.
The report also revealed that Project Pangea is designed to evolve into a multi-currency settlement platform that will add new institutions and currency corridors as the network expands.
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.
Chainlink has become a participant in Project Pangea, a cross-border settlement initiative that brings together banks from Europe and South Korea. The combined assets managed by these institutions exceed $10 trillion. Despite the announcement, LINK’s price moved lower in the short term. At the time of reporting, the token was trading near $7.57, having dropped about 5% over the past 24 hours.
Project Pangea’s objectivesProject Pangea is a collaboration between Chainlink, FairSquareLab, UniKA, and Qivalis, aiming to test the use of regulated stablecoins denominated in euros and South Korean won for cross-border transactions between Europe and South Korea. The main goal is to speed up the traditional euro-won settlement process—typically completed on a T+2 basis—toward a T+0 model, which would mean near-instant settlement.
Qivalis is a consortium backed by 37 European banks and focuses on euro stablecoins, while UniKA is a South Korea-based banking alliance representing more than 10 commercial banks. The initiative seeks to enable foreign exchange transactions to be completed in near real-time, a significant leap from existing wait times.
Mini glossary: Payment versus payment is a settlement method designed to ensure payments in two different currencies occur simultaneously. In an atomic swap setup, both legs of a transaction must be completed, otherwise the entire transaction is canceled.
Within the project, Chainlink will provide crucial infrastructure to connect traditional banking systems with blockchain-based settlement networks. Its middleware solution is designed to translate Swift and ISO 20022 payment instructions into on-chain settlement commands, allowing banks to operate with blockchain networks without needing to overhaul their existing payment systems.
Technology stack and trade corridorThe project will employ Chainlink’s Cross-Chain Interoperability Protocol, Data Streams, and Chainlink Runtime Environment. These tools are expected to support cross-chain transfers, deliver real-time exchange rate data, and coordinate settlements between Swift messages and blockchain settlement layers.
Meanwhile, FairSquareLab will provide on-chain foreign exchange settlement technology through the Pangea L1 Network, which will serve as the backbone for atomic FX swaps. This system ensures both sides of a currency exchange are completed simultaneously, and if either party fails to fulfill their obligations, the transaction is canceled to minimize risk.
The initiative focuses specifically on the Europe–South Korea trade corridor, where more than $150 billion in goods and services flow annually. While global foreign exchange markets see over $9.6 trillion in daily volume, a significant portion of cross-border settlements still rely on intermediaries and delayed payment mechanisms.
Chainlink’s statement and LINK price dynamicsAccording to Niki Ariyasinghe, a Chainlink executive, the project’s aim goes beyond a proof of concept; the goal is to complete live, regulation-compliant transactions within the next 12 months.
Chainlink has made it clear that this effort is not intended as direct competition to existing payment networks. Instead, the company aims to offer a bridge that links banks’ current systems to on-chain financial infrastructure. Regulated stablecoins will serve as the digital cash leg for settlement.
Despite the strategic developments, LINK’s short-term outlook remained weak. The token retreated from the $7.85–$7.90 range, moving toward the $7.50–$7.55 support zone. The first resistance barrier is positioned between $7.60 and $7.65. A stronger recovery would require LINK to regain the $7.80–$7.90 range.
ETF flow data also influenced the selling pressure. According to Arca, Chainlink’s spot ETF saw a net outflow of $490,920 on June 22. This ended a 203-day streak with no negative daily data. Total cumulative inflows slipped from $123.82 million to $123.33 million. On the technical side, the Relative Strength Index stood at 34.94 while MACD remained below zero. While this suggests a possible slowdown in the downward momentum, analysts point out that a definitive trend change would require stronger buying activity.
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.
Circle partners with Nomura Securities to enter the Japanese yen foreign exchange settlement service market.
Stablecoin issuer Circle plans to collaborate with Nomura Securities to launch instant foreign currency settlement for Japanese corporate clients as early as 2027. The initiative will enable large cross-border transactions to be completed immediately, aiming to boost cross-border investment and trade. This will mark the first entry of a major stablecoin issuer into Japan’s corporate transaction market, allowing companies to convert yen into US dollar-denominated stablecoins for investment and instant transfers.
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Chainlink has joined Project Pangea, a bank-backed effort that aims to speed up foreign exchange settlement between Europe and South Korea.
Summary
Project Pangea links Chainlink with European and Korean banks to test faster stablecoin FX settlement. The group wants to replace T+2 currency settlement with atomic payment-versus-payment trades using bank standards. LINK traded near $7.59 as Chainlink’s cross-border bank settlement plan drew fresh market attention. The group plans to test stablecoin-based settlement for currency trades that often still take two business days to clear.
The project brings together Chainlink, FairSquareLab, UniKA and Qivalis. Chainlink’s announcement described the group as more than 50 banks with over $10 trillion in assets under management. Qivalis is backed by 37 European banks, while UniKA represents more than 10 Korean commercial banks.
NEW: Chainlink & multinational banking consortia launch Project Pangea to develop a novel solution redefining international FX markets.
Pangea brings together 50+ banks, representing $10+ trillion AUM, to unlock T+0 cross-border settlement via Chainlink & ISO 20022 standards 🧵 pic.twitter.com/hcEjxKthd6
— Chainlink (@chainlink) June 23, 2026 Stablecoins sit at the center of the plan Project Pangea will study direct payment-versus-payment swaps using compliant euro and South Korean won stablecoins. Under that model, both sides of an FX trade settle at the same time or do not settle at all. The design seeks to reduce settlement risk for banks and businesses.
The group plans to use ISO 20022 messaging and existing Swift infrastructure, rather than ask banks to replace their core systems. Chainlink would provide data, interoperability and orchestration tools, while FairSquareLab would provide onchain FX settlement technology and the Pangea L1 Network.
“This is not just a POC,” said Niki Ariyasinghe, Chainlink’s vice president of Asia-Pacific and the Middle East. “Everyone’s coming in with their eyes wide open.”
Existing bank rails remain part of the design The project does not ask banks to buy crypto or move away from familiar payment messaging systems. Instead, banks would send instructions through Swift, and Chainlink infrastructure would translate those instructions into onchain settlement actions.
Chainlink said Project Pangea will support atomic FX transactions, instant T+0 settlement and access to onchain liquidity. The settlement layer would use Pangea AMM smart contracts on chains such as Ethereum, Polygon and Pangea L1.
As previously reported by crypto.news, SWIFT has also explored blockchain-based systems for global payments as stablecoins grow in scale. In another recent update, crypto.news covered BIS tokenization trials that showed atomic settlement across seven central banks and more than 40 financial institutions.
LINK price and market context Chainlink’s LINK token traded at $7.59, down 3.2% over 24 hours, according to crypto.news market data. The same data showed a 24-hour trading volume of about $246 million and a market cap near $5.68 billion.
Chainlink (LINK) price chart, source: crypto.news The bank settlement plan adds to Chainlink’s broader push into institutional infrastructure. Previously, crypto.news explored Chainlink’s CCIP stack after it passed $110 billion in total value secured across cross-chain tokens and DeFi data feeds.
Project Pangea also fits a broader shift toward stablecoin settlement in corporate payments. Stablecoins have gained attention because they can move value outside normal banking hours. For banks, the key test will be whether the model can meet compliance, risk and liquidity standards at scale.
“If I’m sending money to you and it’s lost in transit for quite some time, you don’t receive it, and that money isn’t able to be used,” said Ariyasinghe. “To reduce that time as much as possible, for customers to access that money absolutely as fast as possible, has to be a good thing.”
Key Takeaways Project Pangea unites 47 financial institutions from Europe and South Korea, controlling more than $10 trillion in combined assets, with Chainlink providing the underlying technology. The initiative seeks to compress foreign exchange settlement cycles from the traditional 48-hour window to instantaneous processing through stablecoin infrastructure. Annual trade volume between Europe and South Korea exceeds $150 billion in combined goods and services transactions. LINK tokens are presently valued between $7 and $8, positioned within what technical analysts identify as a critical accumulation territory. Price forecasts from market analysts span from $21 on the conservative end to $100 at the upper bound, with the century mark potentially materializing between 2028 and 2029. Chainlink has become a cornerstone participant in an ambitious banking consortium engineered to accelerate international payment processing through stablecoin-based settlement mechanisms. Concurrently, cryptocurrency market technicians are highlighting the LINK token’s position at what may represent a strategic long-term entry point.
Chainlink (LINK) Price Dubbed Project Pangea, this collaborative initiative unites Chainlink with Qivalis—a euro-denominated stablecoin consortium supported by 37 European banking institutions—and UniKA, representing a South Korean banking alliance comprising over 10 commercial financial entities. The combined participant institutions oversee assets exceeding $10 trillion.
Chainlink Joins 47 European and South Korean Banks Managing Over $10 Trillion to Enable Near Real-Time (T+0) Cross-Border Settlement
Chainlink has joined 47 European and South Korean banks with more than $10 trillion in combined assets under management as part of Project Pangea,… pic.twitter.com/S1evBZdGTV
— Wu Blockchain (@WuBlockchain) June 23, 2026
The primary objective centers on compressing foreign exchange settlement timeframes from today’s industry-standard 48-hour cycle (T+2) to virtually instantaneous execution (T+0). Implementation will leverage euro-backed and Korean won-backed stablecoins to facilitate this transformation.
Project Pangea will pilot atomic payment-versus-payment (PvP) settlement protocols. This mechanism ensures simultaneous execution of both currency trade components or complete transaction cancellation, thereby eliminating counterparty exposure.
Niki Ariyasinghe, Chainlink’s Vice President overseeing Asia-Pacific and Middle East operations, provided specific deployment expectations. “The target is live transactions within a legal, regulatory compliance framework within the next 12 months,” he stated plainly.
Europe-Korea: A $150 Billion Annual Trade Gateway Project Pangea specifically targets the Europe-South Korea commercial corridor, which facilitates more than $150 billion in annual goods and services exchanges, positioning it among the planet’s 15 most significant trade relationships.
Participating financial institutions will maintain their existing Swift infrastructure for transaction initiation. Chainlink’s technology layer will subsequently convert these instructions into immediate atomic swaps executed on the dedicated Pangea L1 Network—a neutral distributed ledger. This architectural design eliminates the need for banks to overhaul their legacy payment systems.
Ariyasinghe highlighted that approximately 60% of worldwide stablecoin payment activity currently originates from Asian markets, underscoring substantial regional appetite for these solutions.
Technical Analysis Points to LINK Accumulation Bottom From a valuation perspective, cryptocurrency analyst Crypto Patel published weekly chart analysis on X demonstrating LINK’s extended consolidation within a descending channel pattern since reaching approximately $50 during the 2021 market peak. Patel’s technical assessment indicates LINK has re-entered a robust demand zone spanning $4.75 to $7.85 following an 86–87% drawdown from recent peak levels. His charting work establishes an initial price objective at $21.35, followed by the previous cycle summit of $52.22 as the subsequent resistance threshold. The most bullish long-term projection places LINK at $100 during the 2028–2029 timeframe.
Did You Know: $LINK Already Got Classified As A Commodity And It's Still -87% From ATH 😏
That's Like Buying Bitcoin When Everyone Called It A Scam… Except This Time The Government Already Said It's Legit 😂
$100+ LINK Is Not A Question… It's Just A Matter Of Time. pic.twitter.com/gQHLxNNArF
— Crypto Patel (@CryptoPatel) June 19, 2026
In parallel analysis, technician Gann Wyck identified a GannWyck Model 1 Accumulation pattern emerging across extended timeframes, suggesting LINK may be approaching the terminal phase of a multi-year corrective trend.
LINK presently trades within the $7–$8 valuation band. Technical analysts emphasize the $6.50–$7.50 range as critical support infrastructure. A decisive breach above $10 would constitute preliminary confirmation that the prevailing downtrend structure is reversing.
Chainlink’s expanding footprint in decentralized finance data infrastructure, combined with Grayscale’s exchange-traded fund application and strategic acquisitions by Caliber Investments, represent additional institutional catalysts being evaluated alongside the Project Pangea development.
Chainlink (LINK) trades near $7.68 at the time of writing on Wednesday, falling nearly 2% so far this week. LINK remains under pressure despite announcing a strategic working group with several multinational organizations across Europe and South Korea to modernize foreign exchange infrastructure. Meanwhile, modest inflows into Exchange Traded Funds (ETFs) suggest some institutional interest, but derivatives metrics continue to limit the token's prospects for recovery.
Chainlink announces global FX infrastructure initiativeChainlink announced on Tuesday that it has formed a working group with several multinational groups across Europe and South Korea, collectively representing over $10 trillion in assets under management.
This collaborative initiative aims to modernize foreign exchange (FX) infrastructure, with a specific focus on evaluating the transition from traditional T+2 settlement cycles toward real-time T+0 settlement models.
“The initiative is designed to bring together dozens of global financial institutions from across Europe and South Korea to unlock the direct, atomic swap of regulated, fiat-referenced digital assets (including EUR and KRW stablecoins) by leveraging Chainlink's data, interoperability, and orchestration standards, along with FairSquareLab's onchain FX settlement technology,” said Chainlink in its press release.
This partnership is positive for Chainlink's native token, LINK, as it increases adoption and strengthens utility in the long term. However, in the short term, this news failed to lift traders' sentiment, with the LINK price remaining under pressure, trading below $8 as of Wednesday.
Mixed sentiment caps recoverySoSoValue data shows some signs of optimism. Spot Exchange Traded Funds (ETFs) recorded a mild inflow of $137,710 on Tuesday after an outflow of $490,920 the previous day. If this inflow trend continues and intensifies, LINK could see a recovery ahead.
Total LINK spot ETF net inflow daily chart. Source:SoSoValueDerivatives metrics support a negative outlook for Chainlink. CoinGlass’ long-to-short ratio for LINK read 0.90 on Wednesday, nearing the lowest level over a month. The ratio being below one indicates bearish sentiment, as traders are betting that the assets’ prices will fall.
Chainlink long-to-short ratio chart. Source: SoSoValueIn addition, the funding rate turns negative on Wednesday, reading -0.0012%, indicating that shorts are paying longs and suggesting bearish sentiment.
LINK funding rate chart. Source: CoinglassChainlink Price Forecast: Where is LINK heading?Chainlink trades at $7.64 on Wednesday, maintaining a bearish near-term bias as it holds well below the 50-day, 100-day, and 200-day Exponential Moving Averages (EMAs), clustered between about $8.54 and $10.49.
The recent recovery has stalled, with price still capped by this overhead band, while the Relative Strength Index (RSI) at around 36 remains in weak territory even as the Moving Average Convergence Divergence (MACD) inches slightly above the zero line, hinting at only modest countertrend interest so far.
On the topside, initial resistance is located at the 50-day EMA near $8.54, followed by the 23.6% Fibonacci retracement of the latest downswing at roughly $8.74 and the 100-day EMA near $9.08. Above these, a more significant supply zone aligns around the 38.2% Fibonacci retracement at $9.82 and the horizontal resistance at $9.93, ahead of the 200-day EMA near $10.49 and the 50% retracement at $10.70.
On the downside, immediate support emerges at the prior horizontal floor around $7.15, with the cycle low area near the Fibonacci anchor at $7.00 seen as the last notable defense before bears could attempt to extend the broader decline.
(The technical analysis of this story was written with the help of an AI tool.)
Chainlink has joined a multinational banking initiative involving 47 European and South Korean banks to develop near real-time cross-border foreign exchange settlement, marking one of the largest institutional experiments yet in stablecoin-based payment infrastructure.
The initiative, called Project Pangea, brings together Chainlink, Qivalis and UniKA to test atomic payment-versus-payment settlement between euro- and Korean won-denominated stablecoins. Qivalis is a euro stablecoin consortium backed by 37 European banks, while UniKA represents more than 10 South Korean commercial banks. Together, the participating institutions represent more than $10 trillion in assets.
The project is focused on replacing the traditional T+2 settlement cycle for foreign exchange transactions with near real-time, or T+0, settlement. In the existing system, cross-border currency trades can take up to two business days to settle, creating counterparty risk, liquidity costs and operational friction. Project Pangea aims to use regulated stablecoins and blockchain-based rails so both sides of a currency transaction settle simultaneously or not at all.
The initial focus is the Europe-South Korea corridor, which processes more than $150 billion in goods and services annually. The corridor gives banks a defined commercial use case for testing stablecoin settlement while avoiding the broader complexity of launching a fully global payments network from the start.
Banks Test Stablecoins Inside Existing Systems Project Pangea is designed to work with existing banking infrastructure rather than replace it outright. Chainlink’s technology is expected to connect traditional messaging standards, including Swift and ISO 20022, with blockchain-based settlement rails. That design would allow banks to trigger transactions through familiar systems while using distributed ledger technology for settlement finality.
The use of atomic payment-versus-payment is central to the model. Under that structure, the euro and won legs of a transaction are exchanged at the same time, reducing the risk that one party delivers funds while the other fails to complete settlement. For banks, that could reduce trapped capital, lower reconciliation costs and improve liquidity management in cross-border transactions.
Chainlink has positioned the project as more than a proof of concept. Niki Ariyasinghe, Chainlink’s vice president for Asia-Pacific and the Middle East, said participants are targeting compliant live transactions within a legal and regulatory framework within the next 12 months. That timeline suggests the consortium is moving toward practical deployment goals rather than a purely research-driven pilot.
Regulatory Standards Will Decide Adoption The project comes as stablecoins move deeper into institutional finance, particularly for settlement, collateral and tokenized cash use cases. While retail stablecoin adoption has been strongest in crypto markets and emerging payment corridors, banks are increasingly examining regulated stablecoins as tools for wholesale settlement and foreign exchange.
The regulatory implications are significant. Any live system would need to satisfy banking, payments, anti-money-laundering, sanctions, capital and settlement-finality requirements across multiple jurisdictions. The involvement of established banks may help address institutional compliance concerns, but it also raises the standard for legal enforceability, reserve quality and operational resilience.
For Chainlink, Project Pangea strengthens its role as middleware for institutional tokenization and cross-border settlement rather than only a decentralized oracle network for crypto applications. For banks, the initiative offers a way to test stablecoin infrastructure without abandoning existing messaging systems or internal compliance controls.
The broader market impact will depend on whether Project Pangea can move from controlled testing to live transactions at meaningful volume. If successful, it could provide a template for tokenized cash settlement across other trade corridors, accelerating the shift from delayed correspondent banking flows toward programmable, near real-time financial infrastructure.
Chainlink has emerged as a leading technology provider for Project Pangea—a cross-border payments initiative bringing together 47 financial institutions from Europe and South Korea. With participating organizations overseeing more than $10 trillion in total assets, the project’s main goal is to reduce current foreign exchange settlement times from two days down to near-instant transactions.
Project Pangea’s aims and participating organizationsProject Pangea features the euro-based stablecoin consortium Qivalis, backed by 37 European banks, alongside UniKA, which represents over 10 commercial financial firms in South Korea. Chainlink delivers the technical infrastructure underpinning the system. The initiative is designed to speed up cross-border payments using stablecoins pegged to the euro and Korean won.
Glossary: PvP, or payment versus payment, is a settlement method that ensures transfers between two different currencies are completed simultaneously. If either side fails, the transfer is canceled entirely, effectively reducing counterparty risk.
The system will implement an atomic PvP settlement model, where both sides of a currency transaction are finalized at the same time, or not at all. This approach is expected to significantly reduce the risk that one party fulfills its obligation while the other does not.
Niki Ariyasinghe, Vice President of Chainlink Asia Pacific and Middle East, outlined the plan to commence live, regulatory-compliant transactions within the next 12 months.
Europe–South Korea trade corridor and market impactProject Pangea focuses on the trade corridor between Europe and South Korea, where annual trade in goods and services surpasses $150 billion. This makes the corridor one of the world’s most significant commercial relationships.
Participating banks will initially continue using their current Swift infrastructure to trigger transactions. After initiation, Chainlink’s technology converts those instructions into instant atomic swaps on the Pangea L1 Network. This architecture aims to provide a seamless transition, allowing institutions to adopt the new model without fully replacing their legacy payment systems.
Ariyasinghe also highlighted that nearly 60% of global stablecoin payment activity originates from Asia, underscoring strong demand for such solutions in the region.
Critical levels for LINK price and analyst forecastsOn the market front, analysts report LINK is currently trading in the $7 to $8 range. Technical evaluations point to the $6.50–$7.50 band as a significant support level. Should LINK break above $10, it could signal the end of its recent declining pattern.
According to analyst Crypto Patel’s weekly chart, LINK has been in a prolonged descending channel since reaching its peak of around $50 in 2021. Patel identifies $4.75–$7.85 as a strong demand zone, with short-term targets at $21.35 and, eventually, the previous cycle high of $52.22. For long-term optimistic scenarios, price projections of $100 in 2028–2029 have also been suggested.
Some market watchers are also factoring in Chainlink’s expanding impact within decentralized finance infrastructure, Grayscale’s recent ETF filing, and renewed institutional purchases as part of the wider narrative surrounding Project Pangea.
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.
Chainlink has joined forces with banking consortia from Europe and South Korea to launch Project Pangea. The initiative seeks to enable near-instantaneous settlement of euro-to-South Korean won foreign exchange transactions using regulated stablecoins, replacing the traditional multi-day delays that currently characterize much of the global FX market.
Traditional FX settlements often operate on a T+2 cycle, meaning trades can take up to two business days to finalize. This delay creates counterparty and settlement risks for banks and their clients, particularly in high-volume corridors such as the Europe-South Korea trade route.
Project Pangea aims to compress this timeline to T+0 — essentially real-time or same-day atomic settlement — by facilitating direct swaps between compliant EUR-pegged and KRW-pegged stablecoins.
The project brings together more than 50 financial institutions collectively managing over $10 trillion in assets under management.
On the European side, Qivalis, a euro stablecoin consortium backed by 37 leading banks, participates.
In South Korea, UniKA (Unified Korea Alliance) coordinates the effort, with a steering committee that includes Shinhan Bank, JB Bank, Kbank, FairSquareLab, and OBDIA, plus more than 10 additional commercial banks.
FairSquareLab, a Korean digital asset infrastructure provider, contributes its onchain FX settlement technology.
At the core of the solution is Chainlink’s decentralized oracle network, which supplies reliable off-chain data, cross-chain interoperability, and smart contract orchestration.
These capabilities integrate with ISO 20022 messaging standards and existing Swift infrastructure.
The result is a Payment-versus-Payment (PvP) mechanism that allows banks to exchange the two stablecoins atomically — ensuring one leg of the trade settles only if the other does — without relying on intermediary bridge currencies.
By enabling direct, bilateral stablecoin swaps, Project Pangea reduces operational friction, lowers costs associated with prolonged settlement periods, and minimizes exposure to market volatility during the settlement window.
Participants expect the framework to enhance efficiency and transparency across international FX flows while leveraging regulated digital assets that maintain full fiat backing and compliance.
The announcement was made in Zurich, highlighting growing institutional interest in bringing traditional capital markets onchain.
Industry professionals now generally view the collaboration as part of a broader trend where established banks explore tokenized assets and blockchain infrastructure to streamline global payments and foreign exchange.
If successful, the project could serve as a blueprint for other currency pairs and corridors, accelerating the adoption of stablecoin-based settlement models in regulated finance. While still in the development and testing phase, Project Pangea appears to demonstrate how decentralized technology can complement, rather than replace, legacy banking rails to deliver improved cross-border transactions.
After stablecoins and tokenization, crypto seems ready to upgrade the $10T traditional foreign exchange (FX) market.
Chainlink recently announced a move in this direction. The blockchain oracle provider, alongside over 50 European and South Korean banks, formed a Project Pangea.
The project brings together firms handling over $10T in assets and aims to make FX settlement near-instant. Chainlink added,
Existing FX market systems face severe bottlenecks due to delayed T+2 settlement cycles and fragmented market structures.
The program will use regulated Euro-based stablecoins and South Korean won (KRW). The overall system will be a three-tiered network. SWIFT will handle the banking layer for financial messaging between partner banks.
For the blockchain connectivity, Chainlink comes in to securely transfer Euro stablecoins to Korean won settlement chains. At the same time, it will provide real-time data feeds on global FX rates for the on-chain systems.
Finally, the Pangea L1 blockchain, built by FairSquareLab, will handle the settlement layer. The developer is part of the UniKA (Unified Korea Alliance), which includes Korea’s banking giants like JB Bank and Kbank.
On the other hand, Qivalis, a coalition of Euro stablecoin players backed by European banks, is also part of the project.
Will traditional FX benefit from crypto rails? Commenting on the move, Fernando Vazquez, president of capital markets, Chainlink Labs, said,
This is a major milestone toward rebuilding how global value moves. Project Pangea upgrades the fragmented foreign exchange model of today with direct, atomic currency swaps using stablecoins.
For his part, Joonhong Kim, CEO of FairSquareLab, said the project was purely a push for more efficiency on the Europe-Asia FX corridor.
For Korea, Project Pangea is more than an efficiency gain — it opens a path for the Korean won to connect more directly with global currency markets, reducing reliance on intermediary currencies.
Worth noting that currently, one may need to change their Euros to the global reserve currency (the US dollar) before finally getting their Won (KRW).
But on-chain FX eliminates these hidden costs and middlemen. Interestingly, crypto research firm Delphi Digital had anticipated on-chain FX to find a product market fit this year.
Traditional FX is a multi-trillion dollar market riddled with intermediaries, fragmented settlement rails, and expensive fees. Onchain FX collapses this stack by enabling all currencies to exist as tokenized assets on a shared execution layer, eliminating multiple intermediary hops.
Brazil already classifies stablecoins as foreign exchange. However, USD-based stablecoins are the most dominant. and the IMF has flagged this as a risk for FX exchange rates and demand for local currencies in emerging markets like Nigeria.
It remains to be seen how the niche segment will mature.
Final Summary Chainlink and 50 European and South Korean banks are betting on making FX more efficient using stablecoins. Delphi Digital had projected on-chain FX as the next product market fit for crypto disruption.
A First for Tokenized Private CreditT-RIZE Group (@trize_io) has integrated Chainlink's ($LINK) oracle infrastructure to deliver onchain proof of insurance for its Kairos Digital Loan Notes (KDLN) programme, a tokenized private credit product running on Canton Network (@CantonNetwork). It is the first time verifiable insurance coverage data has been embedded within a tokenized financial product on the Canton Network.
The KDLN programme is backed by a diversified portfolio of UK litigation-finance receivables. Private credit has grown into a $3.5 trillion global asset class, according to the Alternative Credit Council and AIMA, and T-RIZE is positioning the KDLN as a governed, institutional-grade entry point into that market. The programme opens with an initial $50 million tranche available to eligible institutional and qualified investors, with the broader framework designed to scale to $500 million.
How the Verification Architecture WorksInsurance coverage data from Talisman Insurance is converted into a Merkle tree, anchored on Canton Network, then published as verifiable Data Streams by Chainlink's decentralised oracle network. Authorised participants can independently verify coverage using cryptographic validation data, Merkle proofs, and a published verification methodology, without relying on paper-based processes or counterparties.
The move addresses a structural problem that has long frustrated institutional investors. One of the most persistent friction points in institutional finance has been the inability to verify coverage documentation without relying on counterparties, intermediaries, and paperwork. By anchoring insurance data directly onchain, T-RIZE Group and Chainlink remove that dependency entirely.
T-RIZE uses Chainlink's oracle infrastructure to power secure, verifiable data for tokenized assets, covering Proof of Reserve, Proof of Origin, and Proof of Process to ensure traceability and auditability for real-world assets. Chainlink was also deployed live on Canton Network in February 2026, bringing Data Streams, Proof of Reserve, and the Cross-Chain Interoperability Protocol (CCIP) to the institutional blockchain.
Beyond the KDLN programme, the architecture T-RIZE Group and Chainlink have built is designed to scale, with coverage information now positioned as an integrated component of tokenized financial products rather than a peripheral documentation requirement. Whether that model spreads to other asset classes such as real estate, infrastructure debt, or trade finance could be one of the more consequential questions the private credit tokenization market answers over the next few years.
Sources:
The Cryptonomist: Institutional Tokenization Insurance Enhances Onchain Verification
TechBullion: UK Litigation Finance Enters Tokenized Markets on Canton Network
PR Newswire: Chainlink Now Live on Canton Network
Altcoins are back in style. As the price for one bitcoin has increased to trade around the $8,450 level, several top altcoins are posting double-digit gains against a generally-green backdrop, while Ethereum is on a roll – gaining almost 6% over the last 24 hours.
BNB, Maker, Holo and Chainlink are benefiting the most, posting gains of 8%, 9%, 11% and 14% respectively. But privacy and not-so-much privacy coins are seeing moderate losses, with Monero, Dash and Zcash performing at -0.6%, -1.8% and -1.1%.
While today’s woes may derive from coincidental market fluctuations, pressure from the FATF Travel Rule may cause investors to hold off from privacy coins for now.
What’s behind these impressive gains? BNB
… the sudden surge appears to be caused by a rumor that was later confirmed by CZ: Binance will start offering a fiat-to-crypto on-ramp in China through an integration with Alipay and WeChat. The news was falsely reported by numerous media outlets this morning as being a direct partnership.
Together these are the largest digital wallet providers in China, with adoption comparable to that of credit cards in the U.S. The news will have a profound effect on markets, in light of the ban of all native Chinese cryptocurrency exchanges in 2017, which left mainland traders scrambling to find ways of buying crypto.
Maker
…rise can be attributed to the announcement of a release date for Multi Collateral DAI. Due to Maker’s governance structure, the community will still need to vote for the proposal on November 15, with the CEO of Maker Foundation Rune Christensen urging all participants to do so. The first tokens to be evaluated for additional collateral will be ETH and BAT, with a full risk assessment provided to the Maker community for consideration.
Chainlink
…shows no signs of slowing down. After a variety of announcements that fueled its growth recently, the project delivered the final stroke: the Trusted Computation Framework, a collaboration with Intel, Hyperledger and Ethereum Enterprise Alliance.
The framework is designed to solve scalability issues affecting blockchains by moving computational and private data processing off-chain. Chainlink’s oracles will be providing the bridge between the two worlds, allowing the offloading of very resource-intensive operations without compromising on security. While the news was released two days ago, the daily sentiment for LINK remains ‘very high’ at 83%, according to data from thetie.io
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Holochain
… the rise may be due to a preview of HoloPort, although it is largely an interface update. Sentiment is also neutral.
VanEck publishes investment case for Bitcoin VanEck, one of the two companies that submitted an ETF proposal due for deliberation this month, before subsequently withdrawing it from consideration, has published a comprehensive investment case for Bitcoin.
The report is prefaced with a definition of Bitcoin’s value. The company distinguishes between two different types of value for traded assets, categorizing stocks, real estate and commodities as ‘Intrinsic Value’ assets.
On the other hand gold, art, precious stones and bitcoin are categorized as having ‘Monetary Value,’ which arises from “Behavioral economics, heard behavior, etc.”
Based on these descriptions and other aspects of monetary theory, the report goes on to make a case that Bitcoin is a store of value and can be considered as digital gold.
Curiously, the report highlights some of the same concerns that the SEC has about Bitcoin ETFs; namely the lack of custodians, prime brokers, settlement entities and others, which are preventing significant institutional exposure.
Nevertheless, VanEck argues that increasing adoption figures, the upcoming halving, and increasing development momentum all make for a convincing reason to allocate a part of investor portfolios to Bitcoin.
Nathan Batchelor On Bitcoin Bitcoin has consolidated in a narrow range over the last twenty-four hours, with bulls maintaining the BTC/USD pair above the $8,000 support level. It is worth reiterating that the SEC is deciding on the Bitwise Bitcoin ETF this week, so trading volumes could remain light up until the decision.
TradingView.com In the near-term, the Choppiness Indicator and the Balance of Power Indicator show that short-term BTC/USD buyers are still in control of the cryptocurrency.
The four-hour time frame shows that Choppiness Index is still pointing to further upside. Interestingly, the Choppiness Index has also reached its most overbought reading since October 2018 on the daily time frame.
A higher reading indicates that the medium-term bearish trend is very weak, and suggests that the next directional move in the BTC/USD pair could be explosive.
In my opinion, I believe that the current bearish trend is weakening, and the chances of a rebound back towards the $9,000 level are very strong if the $8,500 level is broken.
The Balance of Power Indicator is also showing that BTC/USD buyers are gaining back control over the short-term. The Balance of Power Indicator is a simple indicator to use, as it shows the strength of buyers against sellers.
A reading higher than zero shows that buyers are in control, while a reading below zero shows that sellers are in control. The four-hour and daily time frames are currently providing positive Balance of Power readings.
* ‘The bullish short-term case is strengthening while the BTC/USD pair holds steady above the $8,100 support level’. *
SENTIMENT
Intraday bullish sentiment for Bitcoin has remained steady, at 65.50%, according to the latest data from TheTIE.io. Long-term sentiment for the cryptocurrency has stabilized, at 61.50%.
UPSIDE POTENTIAL
The early week advance has helped to form a potential double-bottom formation across the lower time frames. According to the upside projection of the double-bottom pattern, the BTC/USD pair could rise towards the $9,200 level if the $8,500 level is breached.
Bitcoin’s 200-day moving average is rising, which should be taken as a positive sign as it indicates growing upside momentum. The BTC/USD pair’s 200-day moving average is currently located around the $8,580 level.
DOWNSIDE POTENTIAL
The BTC/USD pair’s weekly pivot point is the strongest form of near-term technical support, around the $8,100 level. If sellers breach the $8,100 level we should expect a drop towards at least the $8,000 level.
Bitcoin will have to recover fast if price dips under the $8,000 level or the cryptocurrency will likely face a raft of short-term technical selling back towards the September monthly trading low.
Disclosure: This article was edited by Andrey Shevchenko. For more information on how we create and review content, see our Editorial Policy.
Holochain is a project that many say is set to change the way we think about Distributed Ledger Technology. As a result, interest in HOT is at a fever pitch.
Indeed, Holochain is offering an alternative to the current landscape of bloated blockchains and imperfect solutions. However, the project is facing questions of its own including why development is progressing so slowly, months after a highly successful ICO.
So, is it still a project worth considering?
In this Holochain review I will attempt to answer that. I will also take an in-depth look at the use cases of the HOT token and it's long term adoption potential.
What is Holochain?Holochain is being positioned as an alternative to the blockchain, giving developers a framework for creating decentralized applications (dApps).
One huge change to enable this is a switch from the data dependent blockchain to an agent-centric system. Holochain's method avoids keeping a global consensus, using an agent system in which each agent keeping a private fork, and that is stored and managed in a limited manner on the blockchain with a distributed hash table.
Holochain Benefits. Source: Holochain Website
This avoids scalability problems that have plagued blockchain solutions. It also allows any dApps hosted on Holochain to do far more with less resource than required for blockchains. In this Holochain review, we will take an in-depth look at the project, technology and token prospects.
Holochain vs. BlockchainThe traditional blockchain works by storing data via cryptographic hashes on a distributed network. Each node on that network maintains a full copy of the blockchain and the global consensus to verify the network and keep its integrity intact. It's one feature of blockchain technology that has been a strength of the emerging technology.
There are weaknesses that come with the blockchain methodology. One that has been plaguing blockchain developers is scalability issues that are created by requiring each node in the network to verify the entire network.
As the amount of data increases on the blockchain, it becomes increasingly restrictive for transaction throughput on the blockchain. This is why some cryptocurrencies have experienced such long transaction times, and such high network fees.
The name came about because the system used by Holochain resembles the construction of a hologram. In a hologram a coherent 3-D pattern is created by a specific interaction of light beams, and in the Holochain the system creates a coherent whole in a similar manner, putting individual components together to form a whole.
In addition, the technology uses holistic patterns as part of its functionality.
The Public Portion BlockchainThe Holochain system does away with scalability issues by not requiring each node or agent on the network to keep a continually updated record of the entire public blockchain.
Instead, each node keeps its own blockchain which interacts with the node's unique cryptographic key. Imagine the entire public blockchain as a river, and each node is similar to a smaller stream that feeds into the river.
If a node goes offline it creates a fork of the public chain, but the public chain continues forward, without being impacted by the loss of one of its nodes.
Holochain is a Green SolutionBy now everyone knows how much energy is required by Proof of Work blockchains such as Bitcoin. Holochain claims to be a green solution to environmentally destructive blockchains.
Because nodes on Holochain don’t store and validate the entire blockchain there is only a small percentage of bandwidth used in comparison with traditional blockchains.
Moreover, there’s no mining component to Holochain, so the electricity used is minimal, really no more than would be used by the node computers in their normal operations. With the electricity requirements of PoW blockchains constantly on the rise, this environmentally friendly approach seems far better.
Node Data Accessed by the Public SpaceInstead of making each node keeps its own copy of all the data in the entire blockchain, the Holochain central chain maintains a series of rules to verify the data on each node's blockchain. That verification occurs occurs on a distributed hash table.
This means that when a node goes offline its data is not lost to the public blockchain. Instead a limited copy is maintained and verified according to the set of rules.
Node Architecture at Holochain
As you can read in the FAQ section of the Holochain website, the developers compare the system to the way that a living organism stores information in DNA or the way that languages are stored by populations of people.
“Where is the English language stored?” the Holochain developers ask in the FAQ. “Every speaker carries it. People have different areas of expertise or exposure to different slang or specialized vocabularies. Nobody has a complete copy, nor is anyone’s version exactly the same as anyone else, If you disappeared half of the English speakers, it would not degrade the language much.”
How Scalable is Holochain?The question of how many transactions per second Holochain can handle needs to be looked at differently than the way we look at scalability on traditional blockchains.
The quick answer to the question is that scalability is unlimited on Holochain. That's somewhat simplistic, and honestly the idea of transactions per second doesn't apply to Holochain due to its inherent nature.
Rather than keeping a global consensus of data on the blockchain, Holochain uses a distributed hash table to keep a record of the essential type and validity of data that each individual node contributes.
Network topology of five agents running three different apps. Every app is it’s own p2p network. Source
The developers have used an analogy of a dance floor to better explain. You can look at a dance floor and immediately know who is dancing ballet and who is dancing hip-hop.
How many dancers can be dancing at the same time?
As many as will fit on the dance floor. It's apparent that there's no need to use a trusted centralized third-party to keep track of the dancers and what style of dance they are performing.
“So, Holochain as an app framework does not pose any limit of transactions per second because there is no place where all transactions have to go through,” the developers wrote. He went on to say
It is like asking, ‘How many words can humanity speak per second?’ It's an irrelevant question. With every human being born, that number increases. Same for Holochain.
What Dapp's Work With Holochain?Holochain would be a very good fit for any dApps that require a large number of individual inputs where each individual has access to a limited copy of all the inputs.
The immediate use case put forth by Holochain is social media platforms, but they’ve also suggested that Holochain will work well in peer-to-peer platforms, supply chain management, reputational cryptocurrencies or loyalty programs, collective intelligence projects and more.
These projects make a good fit for Holochain because of its agent-centric nature. You can also view a comprehensive overview of the types of apps you can develop on the holohackers map.
Some Apps on Holochain Github Already
Holochain would not work well with any type of private or anonymous datasets however, since each individual node publishes a shared distributed hash table. Holochain is also not suited for any application that hosts large files, or for running data positivist-oriented dApps, like most cryptocurrencies.
The vision adopted by Holograph postulates that there are no absolute truths on the public blockchain, only the individual perspective held by each node that can be brought together to form a larger picture. This has been compared to a blockchain vision of the theory of relativity.
Language SupportHolochain was written in Go, and that particular programming language was chosen for its similarity to C and its ease of use. The code base is fully open source and can be examined at the Holochain GitHub.
When developing dApps for Holochain developers are free to use both Lisp and JavaScript and there is also support for front-end languages such as CSS, HTML and JavaScript.
The Holochain developers have stated that Holochain is flexible in regards to handling new languages, so there is a good possibility that support for additional languages will be added in the future.
The Holochain TeamThe developers behind Holochain have a vast amount of experience. The co-founders both have 34 years of programming experience. Arthur Brock, who is the Chief Architect behind Holochain has been a contract coder since 1984, working with AI systems and as an online alternative currency system designer since 2001.
Holochain Team
Eric Harris-Braun is the Executive Engineer behind Holochain. He has also been a contract coder since 1984, a full time programmer since 1988, a designer of peer-to-peer communication applications (glassbead.com) for many years, a full-stack web developer, as well as having experience in system design, framework design, etc.
Rounding out the team are 12 additional developers, UX/UI experts, and software engineers. The core developers are David Meister, an Australian software architect with over a decade of experience, and Nicolas Luck, a German software architect who also has over a decade of experience developing elegant software solutions.
Adoption and CommunityPossibly because the community is still waiting for the release of the Holochain mainnet, the adoption and community activity isn’t quite what you see from some other projects.
The sub-Reddit for Holochain has just under 7,000 subscribers, but posts are only made every few days on average, and many of the recent posts have no responses or comments.
The development team remains active on Reddit though, with AMA’s and explorations of various team members, community leaders, and features of the platform.
Twitter is another popular social platform in the crypto-world, and Holochain is active there, with almost 30,000 followers. They tweet regularly, and most tweets get about 100 likes, and 20-30 retweets.
The Telegram channel of Holochain is fairly large, with just over 12,500 members, and the Holochain Facebook page has over 5,000 likes. There’s also a Holochain Forum, but it doesn’t appear to be exceptionally busy, with only 1-2 posts a day.
Holochain Token (HOT)Holochain completed a month long ICO on April 28, 2018 during which they raised a bit over 30,000 ETH worth roughly $20 million at the time. There were 133,214,575,156 HOT tokens minted for the ICO. As of October 21, 2019 the HOT token is trading for 0.000950, and has a market capitalization of over $150 million, making it the 37th largest cryptocurrency by market cap.
Immediately following the ICO the token had traded as high as $0.002 for a more than 1,000% gain in a week. The price quickly deflated over the following two months, and by July 2018 was trading below $0.0005.
HOT Price Performance. Image via CMC
Like all the coins in the cryptocurrency markets, HOT has had its ups and downs over the years, trading as low as $0.000341 on June 29, 2018 and as high as $0.002538 on May 29, 2019.
The HOT token is an ERC-20 token that can be stored in any ERC-20 compatible wallet, such as MetaMask, MyEtherWallet, or one of the hardware wallets. Eventually, the ERC-20 tokens will be able to be swapped for Holofuel. That swapping will become available once the Holo mainnet launches.
Rather than burning the HOT tokens after swapping they will be held in a reserve account to help maintain stability in the network. There are no plans yet for when HOT will be completely removed. There are also no set plans for listing Holofuel on exchanges, although the team understands this conversation will need to happen.
HOT TradingWhen it comes to the markets for HOT, it is listed on a number of exchanges. These include the likes of CoinEx, Binance, MXC etc. The volume is seems to be pretty well distributed although CoinEx has over 30% of it.
When it comes to the liquidity on the individual exchanges, it appears to be pretty strong. For example, if we were to take a look into Binance's USDT / HOT order book it appears to be quite deep. There is also pretty reasonable daily turnover.
Register at Binance and Buy HOT Tokens
In addition to this, the Binance Exchange also makes a market in BTC & ETH crosses of HOT. So, this means that you will be able to place large block orders without too much slippage.
What is Holofuel?Holofuel is the planned native cryptocurrency of Holochain, which will be a mutual-credit currency, and will be backed by actual assets.
The Holochain team calls it a “contractual service obligation” because it can be earned and redeemed for hosting on the Holochain platform. Its primary use is for Holochain application (hApp) providers to pay Holo hosts for their services.
The Holochain team believes Holofuel is different from many of the existing cryptocurrencies for three primary reasons:
Mutual Credit: Unlike other cryptocurrencies which are primarily used for speculation, HoloFuel is not tokens created from nothing. It is a double-entry crypto-accounting framework that provides scalability, transparency, and accountability.Asset-Backed: HoloFuel is backed by the computing power of hosts across the globe.Value-Stable: The value of HoloFuel is connected to the computing capacity of the network of hosts. This capacity evolves and changes slowly and isn't subject to huge spikes and crashes the way other speculative tokens are.Ultimately this makes Holofuel a hosting utility token, and there are already several competitors who are much further along in development. Projects like Sia, Storj and Filecoin all reward users for sharing their computing power, harddrive space or bandwidth capacity.
DevelopmentI will also mention here that there have been some criticisms of Holochain, most notably that the project is making little to no progress.
And it’s true the project has been progressing quite slowly. It is still waiting for the alpha testnet to launch 18 months after the ICO was completed.
That’s a long time, and there’s no indication when the mainnet might launch. Of course, the team says they’re taking a long view towards their project, and that they don’t want to rush anything.
Of course, there is a simple way to assess the monthly development output and that would be to take a look into their code public code repositories. By observing the code commits we can get a good idea of how much work is actually being done.
Hence, I decided to dive into the HoloChain GitHub and check out their repositories. Below you have the total code commits for the top 3 most active repos over the past 12 months.
Total Code commits to Select Repos over past year
As you can see, the developers have indeed been quite active. There have been regular commits to all of these select repos over the past year. The project also has over 100 further repositories with varying levels of activity - quite impressive.
If we were to compare this to other projects it's quite clear that Holochain is amoung the most active of all. In fact, on this site they are ranked number 2 when it comes to commits to their core repo.
So, although there have been delays in getting the testnet up and running, one can't complain that the team is not working towards it. If you want to keep up to date with this development you can follow their official blog.
ConclusionWe’ve been told that Bitcoin and blockchain are the future technology, but this might not be entirely true. Blockchain technology is actually nearly 10 years old already, and top cryptocurrencies do little more than mimic our existing corrupt financial system in a quasi-decentralized fashion.
Bitcoin is meant for storing value, and has also become something of a casino for traders. Holochain will be a system of value creation and community engagement that is designed to help us get to a post-monetary society based on community, personal contributions, merit, and service to others. It was designed to grant both data and personal integrity.
It’s not certain if Holochain will be successful, but it is ready to be used, and developers can already begin building the applications they feel can help change our society and our world. Some examples of Holochain dApps can be found here and if you’re interested in developing your own dApp with Holochain you can get started here.
Investors have done very well already with the token seeing a 500% increase from its ICO, and that was during a bear market in crpytocurrencies. Once Bitcoin and other cryptocurrencies begin rising again the HOT token could see significant upside.
Disclaimer: These are the writer's opinions and should not be considered investment advice. Readers should do their own research.
