The Trump administration announced new global tariffs of up to 12.5% which will go into effect just after midnight ET on Friday. The new responsibilities will supplant temporary 10% tariffs for all countries and are aimed at dozens of countries concerning forced labor allegations.
Bitcoin Slips As Trump Moves To Impose New Global Tariff Rates The tariff rates will be 10%-12.5% and will be imposed on 60 countries representing more than 99% of U.S. trade, according to senior administration officials. The Office of the U.S. Trade Representative did not go so far as to attempt to calculate the revenue that the new tariffs would generate, per CNBC report.
It’s the “the most sweeping international labor rights action the United States has ever taken — that any country has ever taken,” said a senior Trump administration official. The official also noted the new taxes on steel and aluminum will not “stack” on top of the existing Section 232 tariffs imposed on steel and aluminum for national security reasons.
It happened at the time of ongoing bearish sentiment on the crypto market. Bitcoin fell to $64,985.16, down 1.37% at the time of writing on Thursday, July 23. BTC had already trampled the $65,000 mark earlier today as the US-Iran war tensions grew. Moreover, the lower-than-expected U.S. initial jobless claims data also weighed on the market.
Thereafter, it recovered above the crucial $65,000 zone but the rebound was shortlived as the Trump tariffs news rattled the market. The 15-minute timeframe chart shows formation of red candles for Bitcoin. Also, the crypto market saw notable long liquidations amid bearish macro developments.
U.S. President’s Trade Policy Continues Facing Backlash The new steps come as a further step up in President Donald Trump’s trade policy. However, some of his tariff measures were struck down owing to legal challenges earlier this year.
One of the arguments pushed by the administration has been that tariffs are meant to correct unfair trade practices. Furthermore, the Trump administration believes that such a move will give U.S. a leverage in negotiations with trading partners.
More recently, there have been tariff increases on most imports from Brazil. These charges went into effect on Wednesday at the rate of 25%. In addition, Trump levied 50% tariffs on the wide variety of Canadian imports that will take effect next month.
Previously, the administration had revealed the new tariff policy in early June. This move the White House’s findings that the affected nations had not adequately banned forced labor in U.S. trade. The latest guidelines will replace the temporary global tariff system as soon as it expires early Friday.
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With a court set to consider a reversal of a $5 million settlement from the US Commodity Futures Trading Commission’s (CFTC’s) case with cryptocurrency exchange Gemini, the company has sent $10 million in Bitcoin (BTC) to a super political action committee (PAC) supporting President Donald Trump.
According to the MAGA Inc. Super PAC’s July report to the Federal Election Commission (FEC) filed on Monday, the Gemini Trust Company run by co-founders Cameron and Tyler Winklevoss sent two separate contributions of more than $5 million in Bitcoin on June 19.
The donation, which the PAC may use for independent expenditures to support Trump, was recorded about three weeks after the CFTC filed a joint motion with Gemini in federal court in an attempt to reverse a January 2025 settlement over the company allegedly making false or misleading statements. CFTC Chair Michael Selig claimed at the time that the agency under former US President Joe Biden “politically targeted” the Winklevosses through enforcement actions.
In addition to the recent MAGA Inc. contributions, the Winklevoss brothers each donated $1 million to Trump’s 2024 election campaign and supported the then-candidate through social media posts. Following Trump taking office in January 2025, the twins attended the signing ceremony for a stablecoin payments bill, the GENIUS Act, backed his sons’ crypto mining venture American Bitcoin and contributed $21 million in Bitcoin to the Digital Freedom Fund PAC in an effort to “support President Trump and his administration’s efforts” related to crypto policy.
Since attorneys filed the joint CFTC-Gemini motion with the US District Court for the Southern District of New York in May, there has been no decision posted to the public docket. Cointelegraph reached out to the CFTC and Gemini’s counsel, Avi Perry, for comment on the $10 million contribution but did not receive an immediate response. A CFTC spokesperson told Cointelegraph in June that both sides “agreed that the $5 million penalty will not be returned to Gemini” if granted by the court.
In a June letter to Selig, Senator Elizabeth Warren called the joint motion for reversal and other factors as “concerning signs of a CFTC beholden to political pressures and interests of the wealthy insiders, unbound by the rule of law and failing to protect investors and market integrity.”
As of June 30, MAGA Inc. reported receiving more than $397 million.
Selig remains sole CFTC commissioner with no nominations announcedThe CFTC chair, a Republican who was confirmed by the US Senate in December 2025, remains the only member in what is usually a bipartisan group of five commissioners heading the agency.
Many lawmakers have been pressing Trump to announce additional nominations for the financial regulator as Congress considers comprehensive crypto market structure legislation, the Digital Asset Market Clarity (CLARITY) Act. The bill is expected to give the CFTC significant authority in regulating and overseeing digital assets.
As of Thursday, the White House had not announced any nominations for CFTC commissioners, leaving Selig to largely direct the agency’s agenda.
Magazine: Here’s why the CLARITY Act’s ethics deal may be so hard to reach
Cointelegraph is committed to independent, transparent journalism. This news article is produced in accordance with Cointelegraph’s Editorial Policy and aims to provide accurate and timely information. Readers are encouraged to verify information independently.
With a court set to consider a reversal of a $5 million settlement from the US Commodity Futures Trading Commission’s (CFTC’s) case with cryptocurrency exchange Gemini, the company has sent $10 million in Bitcoin (BTC) to a super political action committee (PAC) supporting President Donald Trump.
According to the MAGA Inc. Super PAC’s July report to the Federal Election Commission (FEC) filed on Monday, the Gemini Trust Company run by co-founders Cameron and Tyler Winklevoss sent two separate contributions of more than $5 million in Bitcoin on June 19.
The donation, which the PAC may use for independent expenditures to support Trump, was recorded about three weeks after the CFTC filed a joint motion with Gemini in federal court in an attempt to reverse a January 2025 settlement over the company allegedly making false or misleading statements. CFTC Chair Michael Selig claimed at the time that the agency under former US President Joe Biden “politically targeted” the Winklevosses through enforcement actions.
In addition to the recent MAGA Inc. contributions, the Winklevoss brothers each donated $1 million to Trump’s 2024 election campaign and supported the then-candidate through social media posts. Following Trump taking office in January 2025, the twins attended the signing ceremony for a stablecoin payments bill, the GENIUS Act, backed his sons’ crypto mining venture American Bitcoin and contributed $21 million in Bitcoin to the Digital Freedom Fund PAC in an effort to “support President Trump and his administration’s efforts” related to crypto policy.
Since attorneys filed the joint CFTC-Gemini motion with the US District Court for the Southern District of New York in May, there has been no decision posted to the public docket. Cointelegraph reached out to the CFTC and Gemini’s counsel, Avi Perry, for comment on the $10 million contribution but did not receive an immediate response. A CFTC spokesperson told Cointelegraph in June that both sides “agreed that the $5 million penalty will not be returned to Gemini” if granted by the court.
In a June letter to Selig, Senator Elizabeth Warren called the joint motion for reversal and other factors as “concerning signs of a CFTC beholden to political pressures and interests of the wealthy insiders, unbound by the rule of law and failing to protect investors and market integrity.”
As of June 30, MAGA Inc. reported receiving more than $397 million.
Selig remains sole CFTC commissioner with no nominations announcedThe CFTC chair, a Republican who was confirmed by the US Senate in December 2025, remains the only member in what is usually a bipartisan group of five commissioners heading the agency.
Many lawmakers have been pressing Trump to announce additional nominations for the financial regulator as Congress considers comprehensive crypto market structure legislation, the Digital Asset Market Clarity (CLARITY) Act. The bill is expected to give the CFTC significant authority in regulating and overseeing digital assets.
As of Thursday, the White House had not announced any nominations for CFTC commissioners, leaving Selig to largely direct the agency’s agenda.
Magazine: Here’s why the CLARITY Act’s ethics deal may be so hard to reach
Cointelegraph is committed to independent, transparent journalism. This news article is produced in accordance with Cointelegraph’s Editorial Policy and aims to provide accurate and timely information. Readers are encouraged to verify information independently.
Bitcoin may have already reached its low as analysts increasingly question whether the four-year cycle still applies today.
The debate over when Bitcoin’s bear market will end is largely split between two views. One camp still holds on to the traditional four-year cycle, while the other believes that the bottom may already be in.
Grayscale, for one, favors the latter.
Macro Over Market Cycles The supporters of the four-year cycle theory see Bitcoin halving events as the main driver of price movements and expect the current downturn to follow the same pattern as previous bear markets. Historically, the crypto asset has reached its bottom around one year after a cyclical peak and roughly two and a half years after a halving event, with cumulative declines averaging about 80%.
Based on that framework, Bitcoin’s price could still fall further and reach a bottom in September or October. Grayscale, however, said it subscribes to an alternative view that BTC has matured as an asset and is now increasingly driven by broader macroeconomic forces, similar to other major asset classes.
The firm noted that previous bear markets have coincided with periods of slowing economic growth and rising real interest rates, and added that this year’s downturn has unfolded alongside shifting expectations for US Federal Reserve policy and higher real interest rates.
Under this macro-driven framework, Grayscale said the asset’s price could find its bottom when those broader economic conditions begin to improve. The firm even added that if the Federal Reserve refrains from further rate hikes and economic growth remains resilient, BTC’s price may have already reached its low, making a further decline unnecessary despite expectations under the four-year cycle model.
Grayscale is not the only one arguing that the cryptocurrency could be approaching a turning point.
You may also like: Analyst: Bitcoin Stuck Near $65K Because Capital Is Flowing to AI Bitcoin Could Rally to $173K if This Pattern Plays Out: Analyst China Pumps Billions in Tech ETFs: What Does It Mean for Bitcoin Miners? More Analysts Back Early Bottom Thesis Crypto trader Killa also said Bitcoin’s market structure suggests the bottom may already be in, although he remains “50/50” because of the cycle’s timing. The trader explained that BTC has now “swept the dead cat base low” and completed the same five-wave corrective structure seen throughout previous bear markets. However, earlier bear markets took roughly 365 days to reach their final trough, whereas the current cycle would have bottomed in around 260 days.
Despite this, Killa said the “mistake is assuming” cycle lengths never change and believes Bitcoin is more likely to form higher lows than make significant new lows.
Earlier this week, crypto analyst Ali Martinez said the monthly chart is displaying the same combination of technical signals seen near the end of the 2015, 2019, and 2022 bear markets. While Martinez acknowledged that on-chain metrics such as MVRV and CVDD still leave room for a decline toward the $40,000-$50,000 range, he observed the current technical setup has historically identified a dominant accumulation zone with a favorable risk-to-reward profile for spot BTC buyers.
A similar argument was made by crypto analyst Doctor Profit, who warned that investors waiting for a traditional four-year cycle bottom in September or October could end up missing the market’s next move. While Bitcoin could still revisit the $54,000 area, the analyst said he does not expect a drop below $50,000 and believes gradual accumulation already offers an attractive risk-reward profile.
Bitcoin has fallen below $65,000 after the Trump administration announced tariffs of 10% to 12.5% on imports from 60 trading partners covering more than 99% of U.S. trade.
Summary
Bitcoin fell below $65,000 after Trump announced new tariffs covering 60 major trading partners. Strong U.S. jobless claims data and rising Treasury yields added pressure on risk assets. Crypto liquidations reached about $162 million as leveraged long traders absorbed most of the losses. CNBC reported that the duties will take effect at 12:01 a.m. ET on Friday, replacing the temporary 10% global tariff scheduled to expire the same day. The Office of the U.S. Trade Representative has linked the measures to what it described as inadequate enforcement against goods made with forced labor.
Bitcoin traded as low as $64,985 on Thursday, July 23, before briefly recovering above $65,000. crypto.news data showed the asset down about 1.5% over 24 hours, with its market capitalization standing near $1.3 trillion.
Selling resumed after details of the tariff plan emerged, leaving the rebound above $65,000 short-lived. Short-interval charts showed consecutive bearish candles during the decline, while CoinGlass recorded rising liquidations of leveraged long positions as traders faced another risk-off development.
The tariff announcement arrived during a difficult session for risk assets. The Nasdaq Composite fell about 2.2% to a four-week low, while the S&P 500 lost 1.2% and the Dow Jones Industrial Average dropped about 507 points.
Escalating tensions between the United States and Iran had already pressured Bitcoin earlier in the day. Al Jazeera reported that President Donald Trump had threatened an unprecedented “massive attack” on Iran as military exchanges continued across the region.
Strong labor data has added pressure on Bitcoin Fresh U.S. employment data gave traders another reason to reassess interest-rate expectations. The Labor Department reported that initial jobless claims fell by 22,000 to 187,000 in the week ending July 18, the lowest total since September 1969.
Economists surveyed by Reuters had expected claims to rise to 212,000. Continuing claims also fell by 2,000 to 1.796 million, according to the department, showing that layoffs remained limited despite slower hiring and uncertainty surrounding trade policy.
Stronger labor figures can reduce the urgency for the Federal Reserve to ease monetary policy because they suggest that the economy can withstand restrictive borrowing costs. Interest-rate futures indicated that traders were considering the possibility of a Fed rate increase by September, Reuters reported, as higher oil prices added to inflation concerns.
Treasury yields climbed alongside those expectations, with the 10-year yield reaching about 4.70%, according to Investors Business Daily. Higher bond yields can weigh on cryptocurrencies because they raise the return available from traditional assets that carry less risk than Bitcoin.
Leveraged traders took most of the immediate damage from the decline. CoinGlass data showed that 62,869 crypto traders were liquidated over 24 hours, with total liquidations reaching about $162 million. Separate Coinalyze figures placed Bitcoin liquidations near $28.7 million, including roughly $26.2 million in long positions.
Bitcoin’s fall followed a brief advance toward $67,000 earlier in the week. BTC was approaching a seven-week high on July 21 despite the conflict with Iran and the pending tariff decision, but buyers failed to maintain that move as macroeconomic pressure intensified.
New tariffs have rebuilt Trump’s trade barrier The administration has imposed the tariffs under Section 301 of the Trade Act of 1974, which allows Washington to respond to trade practices it considers unfair. The legal route differs from the emergency powers used for an earlier set of tariffs that the Supreme Court struck down in February.
A senior administration official described the measures as the most extensive international labor-rights trade action ever taken by any country. According to the administration, the rates depend on how much progress each trading partner has made in restricting imports produced with forced labor.
Countries and territories that have introduced partial restrictions or made related commitments will face a 10% rate. USTR documents show that the group includes Canada, Mexico, the European Union, the United Kingdom, Taiwan, Argentina and several Southeast Asian and Latin American economies.
A 12.5% tariff will apply to partners that the USTR determined had made less progress, including China, India, Japan, South Korea, Vietnam, Australia and New Zealand. U.S. Trade Representative Jamieson Greer has argued that weak enforcement abroad forces American workers to compete against goods linked to abusive labor practices.
Several major product groups will remain outside the new duties. Reuters reported that the exemptions include crude oil, petroleum products, pharmaceuticals, rare-earth materials, aircraft parts and some foods, while goods already covered by Section 232 tariffs will not face an additional charge.
Canadian and Mexican products that comply with the U.S.-Mexico-Canada Agreement will also be exempt. Administration officials said the new steel and aluminum duties would not stack on top of existing national-security tariffs.
The USTR has not published an estimate of how much revenue the tariff package will produce, according to CNBC. Trading partners can potentially secure lower rates by strengthening their forced-labor import rules, although officials said no country currently enforces a complete prohibition.
For Bitcoin, the announcement has added trade uncertainty to a session already shaped by geopolitical tension, rising oil prices, stronger labor data and higher Treasury yields. CoinGecko data placed BTC close to $65,000 at the time of reporting, leaving the level as the immediate test for buyers after the latest decline.
Gemini Trust Company, a prominent cryptocurrency exchange co-founded by Cameron and Tyler Winklevoss, has contributed $10 million in Bitcoin to a super PAC backing US President Donald Trump, according to financial filings released this week.
Major Bitcoin donation tied to CFTC case developmentsThe contribution was disclosed in MAGA Inc. Super PAC’s July report to the Federal Election Commission. The filing reveals that Gemini sent two separate Bitcoin donations, each exceeding $5 million, on June 19. MAGA Inc., a political action committee supporting Trump, can use the funds for independent expenditures during the 2024 presidential campaign.
This significant donation was recorded just weeks after the Commodity Futures Trading Commission (CFTC) and Gemini jointly requested a federal court to consider reversing a $5 million settlement reached in January 2025. The case centers on allegations that Gemini provided false or misleading statements.
Michael Selig, CFTC Chair and the agency’s only current commissioner, has asserted that previous enforcement actions against Gemini were politically motivated under former President Joe Biden’s administration, targeting the Winklevoss brothers.
The CFTC, led by Selig, claimed that the Biden administration “politically targeted” the Winklevosses through enforcement, highlighting tensions surrounding regulatory action in the crypto sector.
Beyond the $10 million donation, the Winklevoss twins previously contributed $1 million each to Trump’s 2024 campaign and have shown vocal support for his presidency on social media. After Trump’s return to office in January 2025, the brothers appeared at the signing ceremony for the GENIUS Act, a stablecoin payments bill, and backed his sons’ crypto mining venture, American Bitcoin. They have also contributed $21 million in Bitcoin to the Digital Freedom Fund PAC, aimed at advancing crypto-friendly policies.
Ongoing court proceedings and political reactionsNo final decision has been made public regarding the joint CFTC-Gemini request, which was filed with the US District Court for the Southern District of New York in May. The CFTC stated in June that if the court grants reversal, the $5 million penalty will not be returned to Gemini.
Senator Elizabeth Warren sent a letter to CFTC Chair Selig in June, raising concerns that the joint motion and recent actions suggest the agency may be influenced by political pressures and wealthy insiders, warning of risks to market integrity and investor protection.
As of June 30, MAGA Inc. reported total receipts exceeding $397 million.
RecipientAmountAssetDateMAGA Inc. Super PAC$10 millionBitcoin (BTC)June 19, 2025Trump 2024 Campaign$2 millionUSDPrior to June 2025Digital Freedom Fund PAC$21 millionBitcoin (BTC)Prior to June 2025Selig’s unique position and crypto regulationMichael Selig, a Republican who was confirmed as CFTC Chair in December 2025, is currently serving as the sole commissioner on the panel, which is traditionally composed of five bipartisan members. The Commodity Futures Trading Commission is responsible for regulating US derivatives markets, including those related to digital assets.
Lawmakers from both parties have urged President Trump to nominate additional commissioners to restore the commission’s normal composition, especially as Congress debates the Digital Asset Market Clarity (CLARITY) Act. The pending bill would expand the CFTC’s authority over digital asset markets, establishing clearer rules and oversight mechanisms.
As of the latest updates, the White House had not put forward new nominations for the CFTC, meaning Selig continues to manage the agency’s regulatory agenda.
Mini dictionary: Commodity Futures Trading Commission (CFTC), an independent US government agency that regulates derivatives markets, including futures, options, and swaps, and increasingly digital assets. It plays a key role in establishing legal frameworks for crypto-related trading.
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.
A recent report by Forbes details how a $30,000 bill has marked the end of an era for crypto influencers, who were once pivotal in promoting digital assets. This development comes amid increasing regulatory scrutiny globally, with Indonesia leading the charge through new regulations requiring influencers to hold certifications or licenses to promote crypto assets. The shift reflects a broader move away from the loosely regulated environment that previously allowed influencers to engage in undisclosed paid promotions. Market observers suggest this regulatory landscape change could dampen enthusiasm and reduce promotional activity within the crypto sector.
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Key Takeaways Pricing suggests participants view the end of crypto influencer promotions as potentially impactful on market enthusiasm, which may indicate a decline in Bitcoin’s price momentum. The introduction of strict regulations in Indonesia and elsewhere appears consistent with a reduction in undisclosed crypto promotions, a shift that markets may interpret as limiting speculative activity. The current market pricing for Bitcoin reaching $72,000 by July 26 is notably low, with activity suggesting skepticism about achieving this target in the current environment. What to Watch Observers will be monitoring further regulatory developments in key markets such as the U.S. and EU, where similar restrictions could emerge. The reaction of key industry figures, such as MicroStrategy’s Michael Saylor and Ark Invest’s Cathie Wood, will be crucial in assessing the market’s resilience. Additionally, any significant moves in Bitcoin’s price may be influenced by macroeconomic indicators or regulatory actions, suggesting that market participants are cautious about the near-term prospects for significant price gains.
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Term Structure
Contract Odds Δ since publish Volume 24h July 27 2026 0.5% — — View market → July 27 2026 0.2% — — View market → July 27 2026 11.5% — — View market → July 27 2026 10.5% — — View market → July 27 2026 2.4% — — View market → July 27 2026 0.2% — — View market → July 27 2026 2.8% — — View market → July 27 2026 0.8% — — View market →
Bitcoin [BTC], the largest cryptocurrency by market capitalization at $1.35 trillion, has moved through one of the most unprofitable stretches in its history. Notably, BTC’s slump has now extended across three separate quarters and two calendar years.
That performance has broken away from the equities market over the same window, leaving a wide band of investors holding positions below their entry price. One relationship has held through the divergence, that of the $4.8 trillion technology giant Apple [AAPL].
Bitcoin-AAPL ratio could frame the next cycle A chart from Alphractal plotting Bitcoin against AAPL shares has surfaced a correlation that traders can use to map where both assets sit in their respective cycles. The ratio has traded inside an ascending channel that stretches back to 2017, giving the structure close to a decade of price history to lean on.
Parallel ascending support and resistance lines define that channel, with the lower boundary historically marking undervaluation for Bitcoin and the upper boundary marking overvalued territory.
Source: Alphractal Every long-term Bitcoin cycle over that period has respected those boundaries, and the Alphractal data places the ratio close to the support line once again, with the remaining gap now narrow.
A move into that region, should it play out as it has in previous instances, would put Bitcoin back in the accumulation zone that preceded each of its earlier expansion phases.
Bitcoin-S&P correlation breaks! Bitcoin and the equities market, represented here by the S&P 500, have tracked each other on an annual basis since 2017, with 2025 standing as the single break in an otherwise consistent pattern.
The relationship shows up most clearly in annual returns, where a positive year for Bitcoin has coincided with a positive year for the S&P 500, and the reverse has held as well, with Bitcoin delivering the larger move in either direction.
However, that pattern broke in 2025, when Bitcoin closed the year down 6% against an 18% gain for the S&P 500. Roughly $1 trillion left Bitcoin’s market capitalization between October and December of that year alone.
Source: Curvo The Nasdaq 100 returns the same result, placing the break across the broader equities complex.
Bitcoin’s sharper reaction to a sequence of macro shocks accounts for the gap, including the October 10 liquidation event, the tariff dispute with China, and the U.S.-Israel-Iran conflict. This pushes investors out of risk assets and into safer alternatives.
Those events sit outside the eight years of alignment that came before them, which leaves the longer structure and the channel the Bitcoin-AAPL ratio still trades within intact.
On-chain signal to watch The Bitcoin-AAPL relationship gives traders a way to anticipate a rally, while on-chain data offers the confirmation needed to time one.
Dry powder in the form of stablecoins ranks among the more reliable indicators here, since stablecoin flows onto exchanges signal capital rotating back into the crypto market ahead of an expansion. Moreover, Bitcoin has captured the largest share of those inflows in past cycles.
Notably, DeFiLlama data shows $1.42 billion in stablecoins moving into the market over the last seven days, a figure that sits well below the level associated with previous rallies. It falls short against the more than $10 billion withdrawn across the past thirty days.
Final Summary The Bitcoin-AAPL ratio has traded inside an ascending channel since 2017. Stablecoin inflows of $1.42 billion over seven days sit well under the $10 billion pulled from the market across 30 days.
A recent video shared by Thomas Laresca, known as a crypto coach on X, has sparked considerable discussion within the XRP investor community. The video features a man who tells his wife he owns 10 million XRP. When asked if that amount is enough, he responds emphatically, “Fuck No.”
The push to accumulate more XRPThis short exchange has drawn attention not just for its humor, but for capturing a belief widely held among serious XRP investors: relentless accumulation is key, regardless of current holdings.
Notable figures in the XRP ecosystem continue to encourage investors to increase their exposure. Edoardo Farina, CEO of Alpha Lions Academy, has stated that holding less than 1,000 XRP represents “insanity” and advises aiming for 10,000 XRP as a threshold for those seeking significant profit opportunities. Financial analyst Brewer has echoed this sentiment, recommending every XRP holder keep at least 10,000 XRP in cold storage. Brewer maintains that XRP’s primary value may be as collateral to access liquidity, rather than a token to be sold swiftly for short-term profit.
Brewer has maintained that “10,000 XRP” should be considered a baseline for every serious investor’s cold storage, positioning XRP as collateral rather than a quick trade.
Within this framework, the notion of amassing 10 million XRP, as in the viral video, vastly exceeds even the most ambitious benchmarks commonly discussed by experts.
Where 10 million XRP ranks among global holdersRecent data compiled by XRP community member BagMan (@XRPBags) sheds light on how rare such a holding is. According to the most current XRP rich list, a wallet holding 2,155.87 XRP already ranks in the top 10% of all accounts. Climbing higher, 45,000 XRP places an investor in the top 1%, while a holding of 277,098.12 XRP is required to enter the top 0.1%, with just 7,999 accounts reaching this level.
Only those with over 3,714,074.61 XRP rank among the top 0.01%, a category with fewer than 800 wallets worldwide. Therefore, an account containing 10 million XRP is firmly positioned within this exclusive segment.
Investor percentileMinimum XRP heldApproximate number of walletsTop 10%2,155.87N/ATop 1%45,000N/ATop 0.1%277,098.127,999Top 0.01%3,714,074.61<800Mini dictionary: XRP rich list, a resource that provides distribution data by wallet balances to analyze asset concentration and investor tiers within the XRP network.
Long-term outlook and price aspirationsBased on current prices of $1.09 per token, a 10 million XRP holding equates to $10.9 million. Some analysts have predicted ambitious targets such as $27 per XRP, and a handful have suggested figures as high as $589. These projections, if realized, would turn such a holding into an asset worth hundreds of millions or even billions of dollars.
Regardless of price targets, the underlying message from most experts remains focused on long-term accumulation. The prevailing advice is to store assets in self-custody and prepare for potential future appreciation. The man featured in Laresca’s video, despite holding well above elite thresholds, appears to embody this prevailing mentality: no amount is ever truly enough for dedicated XRP adherents.
The consensus across much of the XRP community is to keep accumulating and focus on long-term strategies rather than short-term trades, a view echoed by several market specialists.
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.
Cover image via youtu.be Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.
While crypto enthusiasts debate XRP's potential return to its historic highs, Barstool Sports founder Dave Portnoy has set a specific exit target for the asset: $1.40.
The businessman is thinking in purely practical terms as he urgently needs available cash to participate in the Saratoga Sales and Cleveland thoroughbred horse auctions in August. He simply does not have time to wait for a hypothetical move to $2 per XRP.
Horse money versus Murphy's lawPortnoy is counting on a quick market impulse to finally offset his previous multimillion-dollar losses. According to him, at the lowest point, his crypto portfolio was down between $3 million and $5 million. Shifting his focus from long-term holding to taking profits quickly, he explained that the decision was driven by a practical need:
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"I need this rocket. XRP just went to $1.11 as I said it, but I need XRP at $1.40. All right, I need 30 more cents in XRP. I need Bitcoin at $80,000. I need these things if I'm going to get more horses. I need them; Saratoga Sales are coming up, and Cleveland after that. I'm going to need Bitcoin, crypto, and XRP to do their part," Portnoy said on social media.
The investor also commented ironically on his own timing. According to him, cryptocurrencies regularly surge immediately after he sells at a loss. Portnoy even joked that the community should start paying him to exit his positions in order to stimulate market growth.
Portnoy's XRP target runs into the 200-day moving averageThe technical picture shows that Portnoy's emotional target surprisingly coincides with the market's main obstacle. On the XRP/USD chart, the prolonged downtrend that began after last year's highs remains intact.
Daily XRP price chart with 200 MA attached (red), Source: TradingViewWhere the price stands now: XRP is trading near $1.10, attempting to stabilize after the recent sell-off.The wall at $1.40: The 200-day moving average, shown by the red line, is located directly at Portnoy's target. Throughout the year, the price has repeatedly tested it from below and consistently bounced back down.Ultimately, Portnoy's strategy looks quite logical. Instead of waiting for a reversal of the broader trend, he plans to take the cash at the first major barrier, where medium-term traders typically begin closing their positions.
Ripple revealed that its University Blockchain Research Initiative (UBRI) has expanded to over 60 leading universities worldwide, underlining academia’s growing role in shaping blockchain innovation. This development was detailed in Ripple’s 2025–2026 Advancing Blockchain Research with Real-World Impact report, which underscored the influence of university-led projects in moving blockchain technology forward.
University-driven research shifts blockchain progressUBRI, launched in 2018 by Ripple, functions as a global research network connecting academic research to real-world blockchain applications. The initiative provides funding, technical support, educational resources, and fosters open-source collaboration, supporting both researchers and students focused on emerging blockchain technologies.
Ripple’s latest report identified three key areas where UBRI-supported researchers are making significant progress. The first area involves developing AI-powered financial infrastructure. Teams are exploring ways artificial intelligence can work with blockchain to automate payments, streamline financial decisions, and create autonomous agents—potentially transforming the way transactions take place.
AI integration in blockchain enables programmable, secure financial systems designed to simplify transactions and automate complex processes for future economic models.
This research positions blockchain as the core foundation behind intelligent, programmable, and secure financial platforms, especially as artificial intelligence takes on more sophisticated roles in finance.
From tokenization to quantum-secure blockchainsThe second major focus is on tokenized assets and digital markets. UBRI-sponsored university teams are developing mechanisms to represent and trade real-world assets—such as securities, real estate, and commodities—directly on blockchain platforms. This work aims to improve efficiency, increase market liquidity, reduce settlement times, and open up access to new investment opportunities across global markets.
Mini dictionary: Tokenization refers to the process of converting ownership of physical or digital assets—such as stocks, real estate, or artwork—into tradable digital tokens on a blockchain, enabling easier transfer, fractional ownership, and improved liquidity.
Asset TypeTraditional TransferTokenized TransferSecuritiesSeveral daysNear-instantReal EstateWeeks/monthsMinutes/hoursCommoditiesIntermediaries requiredPeer-to-peerThe third area involves post-quantum cryptography, as advancements in quantum computing could eventually compromise current encryption standards. UBRI-affiliated researchers are working on new cryptographic techniques designed to safeguard blockchain networks and digital assets against potential quantum threats in the future.
Mini dictionary: Post-quantum cryptography involves developing cryptographic algorithms capable of resisting decryption by quantum computers, which could eventually break many existing encryption methods.
Ripple strengthens industry-academic collaborationRipple highlighted that the ongoing expansion of UBRI demonstrates a shift in blockchain research from purely theoretical studies to practical, actionable solutions. By growing its university network, Ripple aims to support the next generation of blockchain developers, economists, policymakers, and business founders.
Ripple, whose flagship digital asset is XRP, has also bolstered its reputation in the fintech sector. CEO Brad Garlinghouse recently stated that XRP’s settlement speed reduces transaction risks for financial institutions when compared to conventional SWIFT-based transfers. Ripple was recognized again in 2024 on the list of the World’s Top Fintech Companies by CNBC and Statista, marking the fourth year it has received this distinction.
Ripple’s strategy emphasizes fusing academic research with enterprise adoption, seeking to make blockchain a foundational element of global finance in the years ahead.
With UBRI’s ongoing expansion and continued academic partnerships, Ripple continues to position itself at the intersection of research, education, and industry application, supporting wider adoption of blockchain technology across global financial markets.
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.
XRP price action on Thursday, July 23, 2026, focuses on the token’s attempt to sustain a breakout from a multi-year technical pattern. This move has drawn attention from traders and analysts as XRP tests critical support and resistance levels while market activity shifts.
Spot Price and Volume MovementsXRP is currently priced at $1.13, marking a daily decline of 0.13%. Trading volume has fallen sharply by 31.53% in the last 24 hours and now stands at $960.43 million. Despite the daily decrease, the token has climbed 2.54% over the past seven days, based on CoinMarketCap data.
Technical analyst Egrag Crypto, a figure widely followed for his insights on digital asset chart patterns, observed that XRP has confirmed a breakout from a symmetrical triangle that has shaped its price for years. As the asset moves to retest this breakout, the $0.85–$0.88 range has been identified as a significant support zone. Egrag views this action as a broader macro-level test.
XRP’s retest of the $0.85–$0.88 range reflects the lower boundary of its triangle structure. Sustained monthly closes below this level would challenge the bullish case, but occasional dips under the range would not be immediately bearish.
The support range represents the intersection of the triangle’s base and an area identified as the White Bridge pattern. Analysts consider a monthly close below this range to reduce bullish momentum, emphasizing the need for price stability above it.
Price Targets and Technical OutlookEgrag has outlined a step-by-step price roadmap for XRP. The sequence starts with the current support range between $0.85 and $0.88. Above, potential resistance emerges at $1.23 and $1.65. If these levels are surpassed, price targets in the $3.00 to $3.50 zone become relevant, potentially paving the way for further gains.
Egrag’s longer-term measured move points to $6.40 as the initial major upside target, with a stretch forecast of $30 as the macro projection. However, these figures are not set as imminent targets and would require XRP to hold above prior resistance levels.
From a moving average perspective, the 20-day exponential moving average (EMA) is at $1.11130, placing the spot price slightly above short-term support. The 50-day EMA is higher at $1.14479, acting as immediate resistance. The 100-day EMA is at $1.23336, while the 200-day EMA sits at $1.43438, with XRP trading below both longer-term averages.
IndicatorValuePrice Position20-day EMA$1.11130XRP slightly above50-day EMA$1.14479XRP just below100-day EMA$1.23336XRP below200-day EMA$1.43438XRP belowBollinger Bands, a tool for assessing market volatility, set the middle band at $1.11091, with the upper band at $1.16209 and lower band at $1.05974. With XRP positioned between the middle and upper bands, resistance could emerge near $1.16209 if volatility rises.
Derivatives market data from CoinGlass shows that futures volume dropped 25.51% to $1.74 billion, alongside a 1.42% decrease in open interest, which currently stands at $2.50 billion.
The funding rate for open interest-weighted positions is at 0.0041%. This positive number suggests that long traders are making payments to those with short positions, reflecting a leaning toward bullish bets among derivatives participants.
Liquidations over the past 24 hours reached $1.13 million, divided nearly evenly between long positions ($570,500) and short positions ($557,610), showing limited directional conviction. The total difference came to just $12,890.
Mini dictionary: Bollinger Bands are a technical analysis indicator that plots volatility bands above and below a moving average, helping traders identify potential overbought or oversold conditions.
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.
Ripple made a strategic investment in Notabene Wednesday to expand compliant stablecoin payments, even as XRP (CRYPTO: XRP) dropped 3% after a cup and handle breakout failed on the daily chart.
What Is Notabene And Why Did Ripple Invest?According to a press release, Notabene runs the world’s largest open network for regulated on-chain transactions, connecting more than 2,300 institutions across 100-plus jurisdictions and processing over $2 trillion in annualized transaction volume.
The network handles Travel Rule compliance alongside broader transaction verification and authorization, which is exactly the infrastructure banks need before moving value on-chain.
Ripple invested because institutional stablecoin adoption has hit a specific wall: firms know they want to use stablecoins but cannot do it safely at scale within their existing compliance frameworks. Notabene’s network solves that problem.
“Stablecoins are quickly becoming part of mainstream financial infrastructure, but institutional adoption depends on more than efficient settlement rails alone,” said Jack McDonald, SVP of Stablecoin at Ripple.
“It requires trusted identity, compliance, and transaction authorization before value moves,” he added.
How Does This Expand RLUSD’s Reach?The partnership integrates RLUSD into Notabene Flow, the company’s B2B stablecoin payments platform that enables payment coordination, pull payments, recurring payments, and automated invoicing for institutions.
Ripple Payments and Notabene’s authorization capabilities will also explore deeper integration.
Notabene CEO Pelle Braendgaard said the combination of Notabene’s compliance network with RLUSD and Ripple’s global payments reach turns stablecoin adoption from a pilot program into a real growth engine that reaches more counterparties and moves more volume faster.
Why Is XRP Down 3% Despite The News?XRP dropped 3% as the cup and handle breakout that traders were watching has failed.
Price sliced back below the 50-day EMA at $1.14 and is now sitting on the 20-day EMA at $1.11, the last line before the setup is fully invalidated.
The pattern is a classic failed breakout. Price pushed above the handle, trapped late buyers at higher levels, then reversed sharply with those trapped buyers now driving the selling.
A daily close below the 20-day EMA at $1.11 fully confirms the failure and puts $1.05 back in play quickly.
Bulls need to reclaim $1.14 to even begin rebuilding the case. The daily candle is still open, and a recovery close above $1.12 keeps the setup alive.
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Ripple Chief Legal Officer Stuart Alderoty has renewed calls for lawmakers to advance the Clarity Act, legislation designed to regulate the cryptocurrency and digital asset industries in the United States. The bill, formally known as H.R. 3633, cleared the House of Representatives in July 2025 with a 294-134 vote and now awaits action in the Senate Banking Committee following its executive session in May 2026.
Ripple CLO highlights need for stronger consumer protectionsAlderoty described the Clarity Act as a vital step for consumer protection, specifically noting its anti-money laundering and know-your-customer requirements. He argued these provisions, alongside new enforcement tools for federal authorities and state attorneys general, would provide more robust safeguards for both consumers and legitimate businesses in the digital asset sector.
Stuart Alderoty, the top legal executive at Ripple—a blockchain payments company known for its XRP cryptocurrency—has played a prominent role in shaping internal legal policy amid ongoing regulatory scrutiny from U.S. agencies.
The Clarity Act is a consumer protection bill. It addresses the need for “strong AML/KYC requirements” and “real tools for law enforcement and state AGs,” Alderoty stated, pressing lawmakers not to let perfection delay meaningful reform: “Perfect can’t be the enemy of good. Let’s get this done.”
He warned that continued ambiguity around digital asset standards would leave consumers vulnerable to a lack of clear protections, with regulatory gaps that bad actors could once again exploit.
Industry observers scrutinize self-custody provisionsDespite the consumer focus, some in the crypto community see significant unanswered questions in the current draft of the Clarity Act. XRP enthusiast and XRPL validator Justin Nevins examined Senate revisions, suggesting the bill’s self-custody protections, while expanded from earlier versions, mainly apply to those holding digital assets for buying goods or services, not necessarily investors or savers.
Nevins pointed out that the “Keep Your Coins Act” section would prohibit federal agencies from restricting lawful self-custody of digital assets in self-hosted wallets, but the scope of “covered user” remains ambiguous. This uncertainty could affect those who prefer to hold cryptocurrencies as investments or for savings rather than for direct transactions.
The protections for self-custody would not override financial crime or sanctions laws, so authorities could still bar or restrict certain activities even if asset control stays with the user.
Mini dictionary: Senate Banking Committee, the U.S. Senate panel responsible for reviewing and making recommendations on banking, financial, and monetary policy, including legislation related to securities and digital assets.
Self-custody rights are recognized but must still comply with anti-money laundering and sanctions enforcement, so these provisions do not grant unrestricted crypto use.
Developer and DeFi protections under reviewAnother focus of the bill involves protections for blockchain developers. The Senate draft outlines safeguards for software developers, node operators, transaction validators, and others performing technical functions, ensuring these parties are not automatically classified as money transmitters under federal law.
However, these protections seem to depend on whether someone maintains operational control over a protocol. The question of who holds administrative privileges or upgrade keys is particularly relevant to decentralized finance (DeFi) projects, which often aim to limit centralized oversight.
Protocols that allow administrators to alter operations, censor access, or change functions midstream could lose some of these legal protections, highlighting the importance of true decentralization to qualify under the proposed law.
ProvisionImpacted PartiesConditionsSelf-custody protectionDigital asset usersLawful purposes only; subject to AML/Sanctions lawsDeveloper exemptionSoftware developers, validatorsNo protocol control or administrative privilegesThere are also questions about the legal treatment of front-end interfaces, governance activity, and liquidity pool operations, which may require further regulatory guidance in future rulemaking.
SEC and CFTC roles clarified, but debate continuesA central aim of the Clarity Act is to set statutory definitions that delineate which digital assets fall under the Securities and Exchange Commission (SEC) or Commodity Futures Trading Commission (CFTC) oversight. By clarifying the regulatory divide, the bill seeks to reduce market uncertainty for exchanges, brokers, and innovators.
Supporters argue this approach is preferable to regulation by enforcement, while critics question whether all loopholes and potential conflicts have been resolved in the draft language.
Ripple and XRP community closely monitor developmentsThe debate carries particular weight for Ripple and the wider XRP network, given Ripple’s long-standing regulatory disputes in the United States. The company has highlighted the need for clearer laws rather than piecemeal enforcement, which can deter innovation and market participation.
A federal framework could affect how exchanges, financial firms, and developers interact with the XRP Ledger, though the ultimate impact depends on the final legislative text and subsequent implementation by regulators.
With the bill still under review and subject to amendments, it is uncertain what effect the final law might have on the regulatory status of $XRP or similar digital assets.
Next steps and unresolved issuesThe Clarity Act’s specifics on self-custody and developer protections remain important for various sectors of the digital asset market. The bill’s definition of control, as well as exceptions tied to financial crime enforcement, could significantly influence its reach.
Whether these features ultimately address industry concerns or require further revisions will depend on congressional negotiations and future regulatory interpretation.
For now, the ongoing legislative process will determine if the Clarity Act brings a lasting solution to the call for regulatory certainty in the U.S. crypto sector.
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.
Rising Futures OI raises both breakout hopes and liquidation risks.
Ripple’s XRP is back in the spotlight! The token has gained attention from both Futures traders and ETF investors, even though its price has yet to show strength.
Is there a rally underway, or are traders taking on excessive risk too early?
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Home Ripple XRP Futures heat up but price stalls below $1.15 – Here’s why
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Small holders abandon XRP, whales buy without hesitation. This unprecedented divide within the Ripple ecosystem reveals a massive token transfer between investors with opposite strategies. On-chain data shows that modest wallets capitulate under the effect of volatility, while the largest fortunes methodically strengthen their positions. This shift occurs as XRP has rebounded over 8% in five weeks and regained the $1.16 level. Such a signal could say much more about the market dynamics than just the price evolution.
In Brief XRP climbs over 8% in five weeks and surpasses the $1.16 mark. Small wallets reduce their holdings by 5.2%, succumbing to selling pressure. Large holders (100k to 100M XRP) increase their positions by 2.8% over the same period. This transfer from “weak hands” to “strong hands” historically anticipates a price recovery. A Massive Purge of Small Holders The behavior of individual investors on the XRP network shows marked fatigue in the face of recent market uncertainties. The data published by the on-chain analytics platform Santiment highlights several important factual elements regarding this capitulation :
Abandonment by small holders : the smallest wallets have reduced their overall positions by 5.2% over five weeks ; Liquidation under pressure : this massive disengagement marks a classic phase of retail investor capitulation, characterized by asset sales by actors discouraged by volatility ; Loss of conviction : the selling pressure orchestrated by retail investors shows a willingness to exit the market to limit losses or move to assets perceived as less risky. Analysis of this desertion among small holders reveals the fragility of retail investors facing uncertainty and consolidation movements. By giving up 5.2% of their total holdings in just over a month, they have released a significant volume of tokens on the secondary market. This net purge cleans the records by eliminating short-term speculators and less resilient investors. This capitulation dynamic among the smallest wallets is a major behavioral indicator. It reflects the realization of generalized pessimism among individual investors, a mindset that historically precedes token redistributions toward better-funded financial actors.
The Whales’ Counteroffensive: A Strategic Accumulation of XRP Unlike small holders, institutional investors and large token holders have intensified their purchases. Santiment data reveal that wallets holding between 100,000 and 100 million XRP have increased their balances by 2.8% over the last five weeks. This sustained accumulation phase by these whales has directly influenced the price rebound, allowing XRP to rise from $1 at the end of June to over $1.16. This aggressive buying behavior by the most capitalized wallets shows that major market players take advantage of liquidity offered by retail capitulation to strategically strengthen their positions at these price levels.
Structurally, this absorption of selling supply by large holders validates the existence of a bullish bias supported by on-chain analysis experts. As noted by the Santiment team in a post on X: “historically, XRP price has tended to evolve more in correlation with key stakeholders and inversely to smaller wallets, so this wide gap supports the bullish thesis behind the rebound.” Furthermore, this transfer of ownership from weak hands to strong hands changes the circulating supply distribution, consolidating the price above previous support levels thanks to increased institutional presence.
A Favorable Fundamental Alignment This behavioral divergence does not occur in a speculative vacuum but is supported by a fundamentally changing context for Ripple’s ecosystem. Santiment furthermore specifies that the timing of this accumulation coincides with several favorable developments, including “improved institutional access through potential ETF products and continued use of the XRP Ledger for payments, tokenization, and the RLUSD stablecoin.”
The integration of these financial infrastructures strengthens the thesis of a long-term positioning by whales, who anticipate growing structural demand for the native token of the network.
While the capitulation of small holders may have colored the market with short-term pessimism, the takeover by major players offers a promising maturity signal for XRP. The upcoming implications will depend, however, on the network’s ability to fulfill these fundamental promises, whether it is the final approval of ETFs or the effective adoption of the RLUSD stablecoin in international trade. In a constantly evolving crypto landscape, monitoring this wide gap between retail and institutional investors will remain one of the best barometers to anticipate the next market cycles.
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Luc Jose A.
Diplômé de Sciences Po Toulouse et titulaire d'une certification consultant blockchain délivrée par Alyra, j'ai rejoint l'aventure Cointribune en 2019. Convaincu du potentiel de la blockchain pour transformer de nombreux secteurs de l'économie, j'ai pris l'engagement de sensibiliser et d'informer le grand public sur cet écosystème en constante évolution. Mon objectif est de permettre à chacun de mieux comprendre la blockchain et de saisir les opportunités qu'elle offre. Je m'efforce chaque jour de fournir une analyse objective de l'actualité, de décrypter les tendances du marché, de relayer les dernières innovations technologiques et de mettre en perspective les enjeux économiques et sociétaux de cette révolution en marche.
DISCLAIMER
The views, thoughts, and opinions expressed in this article belong solely to the author, and should not be taken as investment advice. Do your own research before taking any investment decisions.
Crypto commentator Michelle Kirby has spotlighted a recent video by Austin Hilton, a well-known YouTuber and crypto analyst, where he draws a direct parallel between the development of the internet two decades ago and the current evolution of the cryptocurrency sector, specifically XRP.
The early internet storyIn the video, Hilton describes his personal experience from the late 1990s and early 2000s, recounting how his father’s truck accessory company in Charlotte, North Carolina, took an early leap into e-commerce. After investing roughly $30,000 into creating hitchfinder.com, the business initially aimed to sell just a handful of hitches each day.
Hilton said he left a lucrative corporate sales career in Dallas to join the family project. By focusing on the potential of online sales, he helped grow the business to over 1,000 hitch and trailer accessory sales per day before selling the company in 2008.
Hilton reflected that in the early days of the internet, many people did not understand the technology and hesitated to get involved, missing significant opportunities.
Connecting the past with XRP’s presentHilton argues that attitudes towards crypto, and in particular XRP, mirror the fear and skepticism people once held toward the internet. He emphasized that widespread uncertainty, critical media coverage, and resistance from the general public were all hallmarks of the internet’s initial growth phase.
Hilton shares his belief that the prevailing caution and doubt surrounding XRP is not a sign of weakness but rather an indication that the technology remains in its formative stage. He attributes early resistance to a lack of understanding, just as the public misunderstood the internet before its mainstream adoption.
“There is a lot of fear around crypto, just like there was around the internet in its early days. People are fighting crypto, but those who recognize the opportunity now could see significant results in the future,” Hilton remarked.
Mini dictionary: XRP, the native digital asset of the XRP Ledger, is often used for fast and low-cost cross-border payments. Ripple, a fintech company, utilizes XRP in its global payments network.
Hilton stated that feedback from members of his private community encouraged him to revisit and share the story publicly. He believes the message resonates with both newcomers to XRP and those who have held the asset long-term, offering perspective on cyclical resistance to innovation.
For less experienced investors, Hilton’s perspective provides historical context to navigate today’s volatile market. For veteran holders, it serves as a reminder that enduring skepticism and external doubt has been a consistent feature of major technological breakthroughs.
Hilton and other industry voices maintain that XRP’s current environment, marked by unease and pushback, reflects an early-stage opportunity for those willing to hold through uncertainty. They suggest investors who maintain their positions could later view this period as being at the forefront of a significant shift.
Austin Hilton, active as a crypto commentator and content creator, continues to share his analytical views with a wide online audience, often focusing on the relationship between market psychology and technological adoption.
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.
XRP is at a pivotal technical level, according to prominent market analyst EGRAG CRYPTO, who identified the asset’s recent move out of a multi-year symmetrical triangle as a key step in its bullish cycle. At $1.10, XRP faces an important macro breakout retest that could set the stage for significant price appreciation if critical support and resistance levels are maintained.
Key technical zones and price targetsEGRAG CRYPTO, known for his technical analysis of cryptocurrencies, underscored the importance of the $0.85–$0.88 support area for XRP. He described this region as a high-confluence technical zone, aligning with the lower boundary of the former symmetrical triangle chart pattern, the so-called White Bridge support, the monthly 111 Exponential Moving Average (EMA), and the projected retest level.
The analyst advised that a brief move below this support would not necessarily disrupt the long-term bullish scenario, but sustained monthly closes under this range could undermine XRP’s outlook. EGRAG also pointed to the monthly 21 EMA and the $1.23 to $1.65 resistance range as pivotal levels for confirming the end of the market’s correction phase.
Defending the $0.85–$0.88 support, reclaiming $1.23, breaking above $1.65, and reaching the $3.00–$3.50 resistance area are crucial milestones for XRP’s path toward a $6.40 rally.
If these milestones are achieved and XRP regains acceptance above its previous all-time highs, EGRAG believes the path could open toward a long-term price target of $30, provided the technical structure remains intact. These projections, however, rely on XRP’s ability to validate each step along the technical roadmap.
LevelSignificance$0.85–$0.88Primary support zone$1.23–$1.65Key resistance band$3.00–$3.50Major resistance area$6.40Initial upward target$30Long-term measured targetMarket fundamentals and growing demandBeyond technical indicators, the macro environment for XRP is also becoming more constructive. Whale selling has decreased significantly, removing a major source of selling pressure in recent months. At the same time, the XRP Ledger (XRPL) has surpassed 1.4 million AI agent transactions, indicating rising adoption of automated payments and integration with machine-driven finance applications.
Mini dictionary: XRP Ledger (XRPL), an open-source blockchain designed for fast and low-cost cross-border payments, powers the XRP cryptocurrency and supports functions tailored for financial institutions, such as decentralized asset issuance and settlement.
Institutional interest is also showing signs of strength. A recent report noted that clients of Franklin Templeton—an established global asset management firm—purchased approximately $5.66 million in XRP through their exchange-traded fund (ETF) products. This accumulation by major investors indicates continued confidence in XRP despite broader market volatility.
With dwindling whale selling and institutional accumulation on the rise, along with increased usage of XRPL for AI-powered transactions, several supportive trends are converging to bolster XRP’s technical setup.
Outlook for XRP’s next moveEGRAG emphasizes that the $0.85–$0.88 support and the $1.23–$1.65 resistance will act as immediate indicators for any renewed bullish momentum. If XRP sustains these levels and reclaims higher ground, the probability of reaching the $6.40 target may increase.
The broader uptrend will depend on the asset’s reaction to these technical markers, particularly as external market conditions and investor sentiment continue to influence cryptocurrency prices.
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.
Bitcoin fell to $64,000 as a broader risk-off move swept through crypto markets after disappointing technology earnings weighed on equities. The pullback pushed crypto market sentiment back into the Fear zone.
Notable Statistics Coinglass data shows 74,657 traders were liquidated in the past 24 hours for $240.79 million. SoSoValue data shows net inflows of $68.99 million from spot Bitcoin ETFs on Wednesday. Spot Ethereum ETFs saw net inflows of $72.6 million. In the past 24 hours, top gainers include Audiera, Midnight and World Liberty Financial. Latest DevelopmentsTrader NotesTed Pillows noted Bitcoin trading below its 200-week EMA has historically marked a long-term accumulation zone. If the traditional four-year cycle holds, the market bottom could form in Q4.
However, the analyst notes that major catalysts, such as a potential CLARITY Act approval, could alter the cycle, much like spot Bitcoin ETF approval led to a pre-halving all-time high for the first time.
Analyst and trader Kevin sees Bitcoin’s key support in the $56,000–$44,000 range but questions whether the market will first sweep a major liquidity pocket built over the past two years.
He cautions that seemingly “untouchable” support zones have often been broken before reversals, raising the possibility of one final sharp selloff before Bitcoin’s next major move.
Trader KillaXBT expects Bitcoin to trade in a range for the next one to one-and-a-half months, maintaining that the cycle’s key bottom has already formed around $57,000.
He believes any brief move below that level would likely be bought aggressively. After this consolidation, the outlook calls for a rally toward $80,000, followed by another extended period of sideways trading before the next leg higher.
Image: Shutterstock
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The National Cryptocurrency Association (NCA), a nonprofit backed by Ripple Labs and focused on expanding crypto education, published research estimating the economic impact of the cryptocurrency industry in the United States for 2026. Working with analytic firm Pragmatic Policy Group, the NCA calculated that salaries, worker spending, and overall output from the sector are set to inject $55 billion into the US economy this year.
Data on crypto employment and economic impactThe Pragmatic Policy Group’s report measured the crypto sector’s role across direct, indirect, and induced employment, highlighting its growing relevance. The analysis found that about 34,000 people are directly employed by crypto companies in the US. Factoring in supply chain jobs and spending by workers, the total number of jobs supported rises to 232,000 across the economy.
Compared to other industries, direct employment in US crypto companies now surpasses the number of jobs in sectors like coffee and tea manufacturing and aerospace, as shown by US Bureau of Labor Statistics data.
The NCA emphasized that “investments in securities and commodity contracts” generated $9.7 billion, making it the largest single sector by economic contribution, followed by “housing and real estate,” which accounted for $4.8 billion in combined value.
Several states stand out for crypto-related employment. Texas, Washington, North Carolina, California, and New York support the most industry jobs. Colorado is described as a “growing blockchain hub” due to supportive regulation, while North Dakota is emerging as an “energy-integrated digital infrastructure hub” based on its favorable tax environment for crypto mining and progressive flare gas policies.
The NCA was founded in March 2025, aiming to promote consumer awareness and understanding of digital assets. With $50 million in funding from Ripple, the group is headed by Ripple’s chief legal officer, Stuart Alderoty.
Mini dictionary: Flare gas policies are regulations governing the capture or use of natural gas produced as a byproduct during oil extraction, which is often flared (burned off). Policies allowing for crypto mining operations to use this otherwise wasted energy have attracted mining ventures to some states.
CategoryEconomic ContributionInvestments in securities and commodity contracts$9.7 billionHousing and real estate (combined)$4.8 billionThe industry experienced multiple shutdowns in 2026Despite its strong economic contribution, the crypto industry has also faced headwinds in 2026, with several digital asset projects ceasing operations. Companies cited market volatility, scaling difficulties, and operational costs as reasons for closing.
In January, New York-based crypto start-up Entropy ended operations after four years. Singapore’s decentralized email platform Dmail began shutting down in May, mentioning the unsustainable costs of bandwidth, storage, and computing resources. Other closures included decentralized governance platform Tally and Balancer Labs, both of which closed in March.
Numerous crypto companies have ended operations in 2026 due to financial difficulties and a challenging market environment, according to industry statements.
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.
XRP, the digital asset associated with Ripple Labs, appeared to briefly trade at $43,032.32 according to a screenshot shared by crypto analyst Steph Is Crypto on social media. At the time, a standard currency converter on the same screen listed XRP’s actual market value at $0.5721, highlighting a dramatic discrepancy.
Widespread price glitches in cryptoPrice anomalies are not uncommon in the cryptocurrency space, often resulting from system errors, third-party feed disruptions, or situations where trading volumes are unusually low. Cryptocurrency exchanges generally aggregate data from multiple external sources to determine asset prices in real-time.
If an external data provider delivers incorrect or delayed price information, the displayed value on a trading platform can diverge significantly from the actual market price. Such errors are typically brief and do not allow real trades to be executed at those extreme values.
Mini dictionary: Price glitch, a temporary and inaccurate price display on an exchange caused by a data feed error or technical issue, not reflecting actual trading activity.
Steph Is Crypto posted a screenshot showing XRP at $43,032.32 while a currency converter indicated its real-time rate was only $0.5721, underlining just how extreme these pricing errors can appear.
XRP’s loyal following, often referred to as the “XRP Army,” is known for its dedication and enthusiasm regarding the asset’s potential. Glitches displaying astronomical prices regularly fuel community speculation.
Some within the XRP community maintain that technical errors are signs of possible future values. In the aftermath of the $43,032 screenshot, online debates emerged, with some users ridiculing the glitch and others embracing it as a sign that XRP could achieve exceptional valuations.
A number of community figures shared even higher pricing anomalies from past incidents, reinforcing the belief among some supporters that large price moves are inevitable.
Historical XRP price glitchesThis is not the first incident involving unusual XRP price figures displayed by platforms. In March 2026, archived data from Kraken briefly listed XRP at $91.62 during a spike in November 2025. That event revived conversations on social platforms about what such dramatic readings could mean.
In April 2026, XRP was shown at $21,354 during a segment on Real America’s Voice, once again drawing intense reaction from its followers. Each time these events occur, discussion reignites among those who consider these readings to be more than just mistakes.
DateReported Glitch PriceSourceNovember 2025$91.62KrakenApril 2026$21,354Real America’s VoiceJuly 2026$43,032.32Currency converter screenshotLatest glitch draws new attentionThe $43,032 figure displayed this week surpasses all previous XRP price glitches, more than doubling the record set during the April 2026 live TV flash. The screenshot in question also displays the actual price of XRP at $0.5721, which suggests the image may not be entirely current. XRP has not traded near that level since late 2024, before a significant rally took the price over $3.
These recurring pricing irregularities often attract widespread attention but do not reflect genuine market activity. For now, XRP continues to trade around $1 according to the latest market data.
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.
Ripple has announced the launch of Ripple Mint, a new platform designed to help expand institutional access to its RLUSD stablecoin. The launch empowers customers with additional options for minting, redeeming and managing RLUSD both manually and via automated integrations.
Ripple Launches New Platform To Promote RLUSD’s Institutional Use According to the launch, “Ripple Mint is here – a unified way for institutions to access, mint, redeem, and manage Ripple USD (RLUSD).” The company notes that stablecoins are becoming an increasingly important asset class for trading, payments and treasury management, and consequently demand for flexible access to these assets is growing.
For context, RLUSD stablecoin is issued under Standard Custody & Trust Company LLC, a trust company chartered by the New York Department of Financial Services (NYDFS). The structure is “regulated” and offers the transparency and oversight that institutional customers need, Ripple said.
Meet Ripple Mint.
A unified platform for institutions to access, mint, redeem, and manage $RLUSD.
Built for scale with both UI and API access, Ripple Mint gives institutions the flexibility to automate stablecoin operations, integrate RLUSD into existing systems, and manage…
— Ripple (@Ripple) July 23, 2026
Ripple Mint offers two options for institutions: Web-Based or Direct Connect via API. This is a way of working that helps businesses that require automation with traditional operational controls, the company said.
Using the platform, institutions can mint and redeem RLUSD. They can also transfer the stablecoin from one supported blockchain to another. In addition, it will allow institutions to track the transactions from their creation to maturity, and incorporate RLUSD activities into current systems.
Meanwhile, Ripple also invested in Notabene to further boost RLUSD’s institutional access.
A Look At Other Latest Features Ripple also unveiled new APIs and webhook notifications. These features enable users to check the status of their transactions, check account balance programatically, and get real-time updates at various stages of minting and redemption. Each workflow employs uniform reference IDs to enhance visibility in fiat and blockchain transactions, the firm said.
The company said, “Through new APIs and webhook notifications, customers can now integrate RLUSD workflows directly into their own systems, enabling automation, operational visibility, and easier reconciliation.”
The implementation also aligns with RLUSD’s growing multichain initiative. The stablecoin is now expanding beyond the XRP Ledger and Ethereum to the XRPL EVM Sidechain, Base, Optimism, Ink and Unichain, Ripple said.
The XRPL EVM Sidechain was highlighted as a crucial component of the company’s strategy. For context, the sidechain will give developers the ability to support EVMs while maintaining a strong connection with the XRP Ledger ecosystem.
The expansion will expand the availability of RLUSD on crypto exchanges, decentralized finance protocols, payment applications, and new on-chain financial infrastructure, Ripple said. The company states that XRP and RLUSD would be used synergically in Liquidity, Settlement, Collateral, Swaps and Payments.
They also said that the platform is already available for existing users. It added, “Ripple Mint is available to existing RLUSD customers today.”
Ripple has made an investment in Notabene, a regulated on-chain transaction network, as the two companies move to expand the use of RLUSD in institutional stablecoin payments.
Under the partnership, RLUSD will be integrated into Notabene Flow, Notabene’s B2B stablecoin payments platform.
The companies will also explore how Notabene’s transaction authorization and compliance infrastructure can complement Ripple Payments.
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Notabene operates a network focused on regulated digital asset transactions, connecting more than 2,300 institutions across over 100 jurisdictions. The company said its platform supports more than $2 trillion in annualized transaction volume and provides tools for compliance, counterparty verification, and transaction authorization.
Part of mainstream financeThe collaboration comes as financial institutions increasingly explore stablecoins for payments but face challenges around regulatory requirements, risk management, and verifying transaction counterparties. Notabene’s infrastructure is designed to address these requirements before funds are transferred.
Jack McDonald, SVP of Stablecoin at Ripple, has made it clear that the efficiency of settlement rails is not sufficient enough to make sure that stablecoins become fully mainstream. He added that compliance, identity verification, and transaction authorization remain key factors for broader institutional adoption.
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RLUSD, Ripple’s dollar-backed stablecoin, has been expanding across financial and digital asset platforms as the company targets enterprise payment use cases. The partnership with Notabene adds another compliance-focused integration for the stablecoin.
Notabene CEO Pelle Braendgaard said institutions have largely moved beyond evaluating whether to use stablecoins and are now focused on implementing them within existing financial operations while meeting regulatory requirements.
The investment follows broader growth in regulated stablecoin infrastructure, supported by new regulatory frameworks such as the GENIUS Act in the United States and the European Union’s MiCA rules. Ripple and Notabene said they plan to continue expanding Notabene Flow’s availability to financial institutions globally.
Ripple has launched Ripple Mint, an institutional-grade platform that consolidates institutional management of the company’s official stablecoin, Ripple USD (RLUSD).
Previously, corporate entities had to conduct their RLUSD-related transactions manually on fragmented platforms. This increased difficulty in organizing and coordinating their crypto activities. Ripple Mint solves all this by presenting itself as a unified central management hub from which users can access, mint, and redeem RLUSD into fiat currency.
Ripple Mint unifies corporate RLUSD transactionsThe software enables users to transact the stablecoin across multiple chains, including the XRP Ledger (XRPL), Ethereum, and prominent Layer-2 scaling networks such as Base and Optimism. It features programmatic webhook notifications and unified reference IDs to track transactions at its various stages: fiat receipt, token minting, on-chain settlement, and payment completion.
Institutions can access Ripple Mint via its official dashboard or connect it to their software using application programming interfaces (APIs). The console will serve a wide array of organizations, including crypto exchanges, market makers, payment providers, and fintech companies.
As Ripple notes, RLUSD operations on Ripple Mint are backed by standard compliance. The stablecoin is issued by the Standard Custody & Trust Company, a heavily regulated, institutional-grade financial services company. Additionally, RLUSD is regulated under the New York State Department of Financial Services (NYDFS).
Additional achievementsLaunched nearly two years ago, the RLUSD stablecoin has grown to be one of the top 10 stablecoins by market cap ($1.59 billion). It has recorded a trading volume of $123.38 million in the past 24 hours and is listed on several high-profile exchanges, including Kraken, Bitstamp and Bullish.
The introduction of Ripple Mint will now streamline corporate access and management of the stablecoin, likely increasing its international footprint and use in high-demand corridors.
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XRP wallet activity has shifted decisively toward withdrawals, suggesting investors increasingly prefer self-custody over centralized exchanges.
Over the past week, withdrawals have been greater than deposits across major platforms. As a result, the total number of wallets declined by roughly -13,026. Coinbase accounted for the largest shift with -8,900, while Binance followed at -2,626 and Crypto.com reached -1,500.
Source: CryptoQuant Prior to the current withdrawal trend, large increases in deposits were seen in July and again in October 2025. Both times these trends led to declines of more than 65% for Ripple’s [XRP] price. At press time, XRP traded at $1.14, indicating easing seller pressure on the asset.
Therefore, exchange reserves, netflows, derivatives positioning, and broader market liquidity remain essential for confirming whether shrinking exchange supply can support sustained price strength.
Still, they may merely reflect temporary positioning before sentiment, demand, and capital flows improve across spot and derivatives markets simultaneously.
Can shrinking exchange supply push XRP higher? Despite withdrawals continuing to reduce the supply of XRP, broader markets lack convincing evidence of sustained spot accumulation. At press time, Binance’s balance stood at 2.6 billion XRP and has been declining steadily from above 3.1 billion.
Source: CryptoQuant This trend reduces the immediate supply of sellers. Meanwhile, inflows from whales have remained subdued. Still, transfers bound for exchanges have dropped to roughly 140 XRP after major spikes earlier this year.
Large deposit bands have also muted, suggesting easing distribution pressure. However, the 90-day Spot Taker CVD has returned to neutral after briefly being buyer dominant in May. As a result, aggressive buyers in the spot haven’t regained control yet.
Source: CryptoQuant Until buying pressure strengthens, shrinking exchange supply alone is unlikely to sustain XRP’s recovery.
While spot demand remains subdued, broader market positioning offers additional insight into XRP’s recovery. Recently, AMBCrypto reported that large holders have continued accumulating during recent exchange outflows, while long-term holders remain profitable without accelerating distribution.
In this context, concentrated holdings among top wallets still warrant close monitoring. Derivatives positioning also remains constructive. Open Interest stays steady at $2.5 billion, while funding rates fluctuate between neutral and mildly positive levels.
Together, these data signals suggest a cautious conviction, rather than speculative excess. Therefore, XRP’s recovery depends upon sustained accumulation and healthy participation in futures contracts.
Final Summary XRP withdrawals continue tightening exchange supply, but spot demand remains too weak to confirm a sustained recovery. Whale accumulation supports a constructive outlook, though stronger spot buying is still needed for further upside.
Boardwalk, a protocol built around fee protection and transparent token economies, has flipped the switch on its BMX-to-BWLK migration module. The tool, now live on the project’s website, lets eligible holders of BMX tokens on Base convert them into staked BWLK tokens on Ethereum at a clean 1:1 ratio.
How the migration works BMX holders connect to the migration module, submit their tokens, and receive staked BWLK in return. The 1:1 exchange rate removes guesswork.
Boardwalk first announced the migration on July 15, followed by a timeline confirmation on July 20. The module itself went live on July 23, sticking to the announced schedule.
The migration window will remain open for approximately six months.
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BWLK is being deployed across multiple platforms, including Ethereum, Base, Robinhood, and Arbitrum. Native liquidity incentives are part of the rollout, designed to bootstrap trading activity across these venues.
The supply math behind BWLK BWLK was originally launched through a Uniswap Continuous Clearing Auction, or CCA. The initial planned supply was 3,150,000 tokens.
Boardwalk burned 160,222 tokens, bringing the current total supply down to 2,989,778 BWLK — about 5% of the planned supply permanently removed before the migration module went live.
The burn aligns with Boardwalk’s stated focus on maintaining a “balanced supply” while keeping its community actively involved in governance decisions. The project has implemented public snapshot reviews and staked token distributions as part of this framework.
Why cross-chain migrations matter The inclusion of Robinhood in the deployment list is particularly notable. Robinhood’s crypto platform caters to retail users who may never interact with a DEX or bridge, opening BWLK to an audience outside traditional DeFi.
Boardwalk has been sharing official links through its Discord and other community channels specifically to help users avoid scam contracts that impersonate migration tools.
The staked nature of the received BWLK tokens means migrated tokens are immediately put to work within the protocol’s staking mechanism. Holders should understand any lock-up periods or unstaking delays before committing.
What this means for investors For existing BMX holders, the migration offers six months to convert at a guaranteed 1:1 rate into a token with a current supply of 2,989,778 — live on Ethereum, Base, Arbitrum, and Robinhood.
A supply of just under 3 million tokens is already quite small by crypto standards. Thin order books on a low-supply token can lead to violent price swings in either direction.
Disclosure: This article was edited by Editorial Team. For more information on how we create and review content, see our Editorial Policy.
Brian Armstrong, Coinbase CEO, said the SEC settlement agreement is a huge win for crypto. (Jesse Hamilton/CoinDesk)Summary
The Securities and Exchange Commission agreed to pay $150,000 and produce remaining records to settle a FOIA lawsuit over its investigations into Ethereum.History Associates Inc., working on behalf of Coinbase, had sued in June 2024 after the SEC failed to fully respond to records requests about Ethereum’s shift to proof-of-stake and earlier crypto enforcement actions.The case, which forced the SEC to turn over thousands of documents and revealed the deletion of texts and data from phones of top officials including Gary Gensler, will be dismissed once final production is complete.The U.S. Securities and Exchange Commission (SEC) agreed to pay $150,000 to settle a federal Freedom of Information Act (FOIA) lawsuit over its investigations into Ethereum, according to a joint status report filed July 22.
History Associates Inc. and the SEC asked the U.S. District Court for the District of Columbia to dismiss the case after reaching a settlement deal. Under the agreement, the agency will produce the remaining responsive documents and pay the flat fee to cover the plaintiff's legal fees.
History Associates, which provides professional historical research, writing and archival services to government agencies, filed the lawsuit in June 2024. Working on behalf of Coinbase, the firm had submitted three public records requests the year before. Those filings sought documents on SEC investigations into Zachary Coburn and Enigma MPC, along with records on how Ethereum shifted to a proof-of-stake system.
The lawsuit compelled the SEC to hand over thousands of documents, with the court explicitly ordering the agency to prioritize all records and communications sent, received or evaluated by then SEC Chair Gary Gensler concerning Ethereum's migration from a proof-of-work blockchain to a proof-of-stake network.
The document fight stalled in September 2025 as the SEC’s Inspector General reported that the agency accidentally deleted Gary Gensler’s text messages from October 2022 to September 2023. Later court updates showed the agency wiped 21 phones belonging to top officials, of which five belonged to the same staff members targeted in the Coinbase case. The SEC told the National Archives about the deleted phones in July 2025.
Brian Armstrong, Coinbase CEO tied the ruling it to an FDIC case around buried evidence during the 2023 banking crisis.
“The Gensler SEC deleted texts at the height of the anti-crypto campaign, FDIC buried evidence - it was all uncovered after we fought to expose the truth,” he wrote in a post on X. “This is not only for us, but for every American and every American company expecting transparency and accountability from the government.”
The dismissal brings to a close more than two years of litigation over the document requests. Once the SEC completes production of the remaining records, the case will be formally dismissed.
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Crypto Flows, Share and the Selective Rotation
Crypto Flows, Share and the Selective Rotation
Markets repositioned since June, but Binance held share (~55% user funds, ~24% spot) and drew net inflows in early July while the tracked market saw outflows.
Jul 22, 2026
Markets repositioned since June, but Binance held share (~55% user funds, ~24% spot) and drew net inflows in early July while the tracked market saw outflows.
Why it matters:
Markets repositioned since June, but Binance held share (~55% user funds, ~24% spot) and drew net inflows in early July while the tracked market saw outflows.
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BitMine Immersion Technologies has gone from staking 0.41 million ETH to over 4.9 million, catapulting its annualized revenue from roughly $34 million to an estimated $244 million. For a company that used to be known primarily as a Bitcoin miner, that’s quite the career change.
The NYSE-listed firm (ticker: BMNR), co-founded by Fundstrat’s Tom Lee, now holds approximately 5.77 million ETH tokens. That’s about 4.8% of Ethereum’s entire circulating supply, making BitMine the largest corporate Ethereum treasury on the planet, valued at roughly $11.1 billion at recent prices.
From pickaxes to proof-of-stake BitMine’s pivot began around June 30, 2025, when the company restructured its operations to focus almost entirely on ETH accumulation and staking.
The vehicle for this transformation is MAVAN, BitMine’s proprietary validator network built to handle large-scale staking operations. Over 85% of the company’s ETH holdings, more than 4.9 million tokens, are now actively staked through this infrastructure.
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In the fiscal quarter ended May 31, 2026, BitMine reported total revenues of $46.5 million, a 22x increase year-over-year. Ethereum staking contributed $45.7 million of that total, representing 98% of all revenue.
Annualized projections for staking revenue land somewhere between $235 million and $284 million, depending on yield assumptions.
The Alchemy of 5% BitMine has branded its accumulation strategy the “Alchemy of 5%,” targeting ownership of 5% of Ethereum’s total supply. At 4.8%, they’re essentially there already.
The institutional backing behind this bet is notable. ARK Invest, Founders Fund, and Pantera are all counted among BitMine’s investors.
BitMine’s approach mirrors what MicroStrategy (now Strategy) did with Bitcoin, but with a critical difference. Staked ETH generates yield. Bitcoin sitting in a corporate treasury does not.
The risks no one wants to talk about Accumulating nearly 5% of any asset’s supply creates concentration risk that cuts both ways. BitMine’s position is large enough to influence staking yields across the Ethereum network, and any forced selling, whether due to regulatory pressure, operational issues, or liquidity needs, could move the market in ways that would hurt the company itself.
One specific concern worth flagging: BitMine has entered a decade-long partnership agreement with Ethereum Tower. The details of that arrangement raise questions about how easily BitMine could exit its staking positions if circumstances required it.
There’s also the yield compression issue. As more capital flows into Ethereum staking, rewards per validator trend downward. The difference between the low and high end of their annualized revenue estimate, $235 million versus $284 million, essentially reflects this uncertainty.
Slashing risk, while statistically rare for well-run validators, also scales with the size of the operation. Running thousands of validators through MAVAN means thousands of opportunities for something to go wrong, and at BitMine’s scale, penalties would translate into millions of dollars in losses.
Disclosure: This article was edited by Editorial Team. For more information on how we create and review content, see our Editorial Policy.
Ether is becoming increasingly attractive from a valuation standpoint, particularly relative to Bitcoin, but onchain data suggests the market has yet to reach a definitive cycle bottom, according to CryptoQuant.
In its latest weekly report, the analytics company said Ether (ETH) is trading roughly 17% below its realized price, or the average onchain acquisition cost of all ETH in circulation, of about $2,300. Historically, ETH trading below its realized price has coincided with periods of market undervaluation and long-term bottoms.
Ether is also showing signs of improving relative to Bitcoin (BTC). CryptoQuant said that ETH’s market value-to-realized value (MVRV) ratio has retreated from extreme overvaluation, exchange inflows have declined, exchange-traded fund (ETF) holdings have begun to recover after months of weakness, and ETH/BTC spot trading volumes have fallen into a range historically associated with market bottoms.
CryptoQuant says two of five key ETH bottoming indicators have been confirmed. Source: CryptoQuant
Even so, only two of CryptoQuant’s five bottoming indicators have reached historical reversal levels. The remaining metrics are improving but have yet to reach the extremes that have marked previous cycle lows, suggesting Ethereum’s bottom may still be forming.
The report comes as Ether briefly climbed above $1,950 this week and Bitcoin topped $67,000, buoyed by optimism surrounding the US CLARITY Act. At the same time, some market analysts have pointed to the potential for capital to rotate out of richly valued AI stocks and back into crypto, a shift that could further support Ether if risk appetite broadens.
The ETH/BTC MVRV ratio has fallen from nearly 0.95 in August 2025 to around 0.65, signaling that Ethereum has become significantly cheaper relative to Bitcoin. Source: CryptoQuant
Ethereum supply tightens as exchange outflows and staking climbEthereum has shown several constructive onchain signals over the past month. During the week beginning June 29, withdrawal activity on Binance, the world’s largest crypto exchange by trading volume, climbed to its highest level in more than three years.
Analysts generally interpret sustained exchange outflows as a sign that investors are moving assets into self-custody or staking rather than keeping them on exchanges for potential sale, although such flows do not guarantee accumulation.
Meanwhile, a record 34% of Ethereum’s circulating supply is now staked, according to Staking Rewards. As Cointelegraph previously reported, higher staking participation reduces the amount of ETH readily available for trading, potentially easing short-term selling pressure if demand remains resilient.
Tom Lee’s Bitmine Immersion Technologies, the biggest corporate ETH holder, continues to accumulate Ether, boosting its holdings by 325,000 ETH over a one-month period, despite sitting on large unrealized losses. It has set a target to hold 5% of the second-biggest crypto.
Cointelegraph is committed to independent, transparent journalism. This news article is produced in accordance with Cointelegraph’s Editorial Policy and aims to provide accurate and timely information. Readers are encouraged to verify information independently.
Ether is becoming increasingly attractive from a valuation standpoint, particularly relative to Bitcoin, but onchain data suggests the market has yet to reach a definitive cycle bottom, according to CryptoQuant.
In its latest weekly report, the analytics company said Ether (ETH) is trading roughly 17% below its realized price, or the average onchain acquisition cost of all ETH in circulation, of about $2,300. Historically, ETH trading below its realized price has coincided with periods of market undervaluation and long-term bottoms.
Ether is also showing signs of improving relative to Bitcoin (BTC). CryptoQuant said that ETH’s market value-to-realized value (MVRV) ratio has retreated from extreme overvaluation, exchange inflows have declined, exchange-traded fund (ETF) holdings have begun to recover after months of weakness, and ETH/BTC spot trading volumes have fallen into a range historically associated with market bottoms.
CryptoQuant says two of five key ETH bottoming indicators have been confirmed. Source: CryptoQuant
Even so, only two of CryptoQuant’s five bottoming indicators have reached historical reversal levels. The remaining metrics are improving but have yet to reach the extremes that have marked previous cycle lows, suggesting Ethereum’s bottom may still be forming.
The report comes as Ether briefly climbed above $1,950 this week and Bitcoin topped $67,000, buoyed by optimism surrounding the US CLARITY Act. At the same time, some market analysts have pointed to the potential for capital to rotate out of richly valued AI stocks and back into crypto, a shift that could further support Ether if risk appetite broadens.
The ETH/BTC MVRV ratio has fallen from nearly 0.95 in August 2025 to around 0.65, signaling that Ethereum has become significantly cheaper relative to Bitcoin. Source: CryptoQuant
Ethereum supply tightens as exchange outflows and staking climbEthereum has shown several constructive onchain signals over the past month. During the week beginning June 29, withdrawal activity on Binance, the world’s largest crypto exchange by trading volume, climbed to its highest level in more than three years.
Analysts generally interpret sustained exchange outflows as a sign that investors are moving assets into self-custody or staking rather than keeping them on exchanges for potential sale, although such flows do not guarantee accumulation.
Meanwhile, a record 34% of Ethereum’s circulating supply is now staked, according to Staking Rewards. As Cointelegraph previously reported, higher staking participation reduces the amount of ETH readily available for trading, potentially easing short-term selling pressure if demand remains resilient.
Tom Lee’s Bitmine Immersion Technologies, the biggest corporate ETH holder, continues to accumulate Ether, boosting its holdings by 325,000 ETH over a one-month period, despite sitting on large unrealized losses. It has set a target to hold 5% of the second-biggest crypto.
Cointelegraph is committed to independent, transparent journalism. This news article is produced in accordance with Cointelegraph’s Editorial Policy and aims to provide accurate and timely information. Readers are encouraged to verify information independently.
Ethereum's latest technical setup has historically marked distribution endings as whales continue accumulating millions of dollars worth of ETH.
Ethereum has climbed by 16% over the past month and is now showing a technical setup that has historically been followed by strong price recoveries, according to crypto analyst Ali Martinez.
He found that ETH’s MVRV ratio is nearing a bullish crossover above its 160-day simple moving average (SMA).
Recovery Hints The MVRV Momentum measures the relationship between aggregate holder profitability and its medium-term trend line. Martinez explained that when the daily MVRV ratio moves back above the 160-day SMA, it indicates a shift out of capitulation and the beginning of a fresh accumulation phase. Interestingly, this is the first time the setup has emerged in 2026.
Over the past three years, crossovers above this level have consistently marked the end of distribution periods and preceded major rebounds in ETH’s price.
At the same time, large investors continue adding to their holdings. According to Lookonchain, an anonymous whale purchased 27,000 ETH worth $52.03 million through Galaxy Digital’s over-the-counter (OTC) desk after remaining inactive for three months.
Additionally, BSCN reported that BitMEX co-founder Arthur Hayes acquired another 644.34 ETH worth roughly $1.25 million, increasing his total purchases over the past eight days to 3,270 ETH. This follows his earlier $2.53 million ETH buy and comes alongside several other multi-million-dollar Ethereum purchases and staking activity reported earlier this week.
Prediction markets are also leaning bullish. In fact, Whale Insiders said Kalshi traders are forecasting ETH could climb as high as $3,210 this year.
You may also like: Franklin Templeton Exec Calls Agentic AI Crypto’s ‘Killer Use Case’ as ETH Nears $2K Ethereum Reclaims 10% Market Dominance as ETH Outperforms Top Cryptocurrencies Wrapped Ethereum Just Logged a Five-Year Whale Record: Here’s Why It Matters for ETH Separate data also showed that investors withdrew around 1 million ETH, worth nearly $2 billion, from centralized exchanges over the past 30 days, which pushed exchange balances to their lowest level in a decade. Declining exchange reserves typically reduce selling pressure and support a bullish outlook.
On the institutional front, spot Ethereum ETFs have recorded consistent net inflows this month, raking in over $380 million during this period.
Alternative Outlook Not all analysts share the same near-term outlook. Crypto analyst Nonzee, for one, argued that the crypto asset could still see one more rally before a deeper correction. He expects it to test $2,000, with a possible move to $2,200 if Bitcoin climbs to $70,000. However, he believes those levels would mark a bull trap rather than the start of a meaningful breakout.
According to the roadmap, Ethereum could spend seven to ten days in a distribution phase before falling into a final bottom zone between $1,300 and $900, which he considers the ideal accumulation range. Despite his bearish short-term outlook, Nonzee maintained a long-term price target of $7,000 for ETH.
Ether has drawn renewed interest among market observers as valuation metrics suggest it appears increasingly attractive compared with Bitcoin, according to the blockchain analytics firm CryptoQuant.
ETH lags realized price, key metrics signal possible undervaluationCryptoQuant reported that Ether (ETH) is currently trading approximately 17% below its realized price, which stands at around $2,300. The realized price reflects the average onchain acquisition cost for all ETH in circulation. Periods when Ether trades below this price have historically aligned with undervalued markets and long-term cycle lows.
The analytics company noted that key valuation indicators have shifted: ETH’s market value-to-realized value (MVRV) ratio has retreated from overvalued extremes, exchange inflows have declined, holdings by exchange-traded funds (ETFs) are recovering after months of sluggishness, and spot trading volumes for the ETH/BTC pair have settled into a range previously associated with prior market bottoms. These dynamics suggest a market that may be transitioning toward deeper value territory.
ETH’s market value-to-realized value ratio has pulled back from extreme highs, and trading volumes for the ETH/BTC pair have fallen into ranges that have historically marked long-term market bottoms, according to CryptoQuant’s report.
Despite improving fundamentals, only two out of the five ETH bottoming indicators tracked by CryptoQuant have confirmed historical reversal levels. The remaining three indicators, while trending positively, have not yet reached values that have marked previous cycle lows. This leaves open the possibility that Ethereum’s price bottom has not yet been set, according to the firm.
Over the past week, Ether briefly traded above $1,950 while Bitcoin surged to $67,000, fueled in part by market optimism regarding the US CLARITY Act. Market analysts have also speculated that capital could rotate from high-priced artificial intelligence stocks back into crypto assets, potentially favoring Ether if risk-taking increases in coming weeks.
The ETH/BTC MVRV ratio, which measures the relative value between Ethereum and Bitcoin, has declined from a high of nearly 0.95 in August 2025 to about 0.65. This move indicates that Ether has become considerably cheaper compared to Bitcoin in recent months.
Mini dictionary: MVRV ratio — The Market Value to Realized Value ratio is a key blockchain metric that compares the total market capitalization of a cryptocurrency with the value at which coins last moved onchain. It helps identify periods of overvaluation or undervaluation relative to historical trends.
DateETH/BTC MVRV RatioAugust 20250.95Current0.65Ethereum supply tightens as exchange outflows and staking climbOnchain data over the past month has revealed several positive signals for Ethereum, suggesting increasing investor confidence. During the week starting June 29, withdrawals from Binance, the largest global cryptocurrency exchange by trading volume, reached their highest point in over three years.
Market analysts interpret sustained outflows from exchanges as an indication that investors are transferring assets into self-custody or staking solutions rather than keeping them ready for sale. However, such trends do not guarantee accumulation but do reduce readily available supply on exchanges.
Staking Rewards, a crypto analytics platform, noted that a record 34% of Ethereum’s circulating supply is now locked in staking. Industry experts have pointed out that higher staking participation means less ETH is available for open market trading, which could limit short-term selling pressure if overall demand for the asset remains strong.
A record 34% of Ethereum’s circulating supply is being staked, limiting the amount available for trading and potentially easing near-term selling pressure if demand persists.
Bitmine Immersion Technologies, the top corporate ETH holder led by Tom Lee, has continued to expand its Ether holdings, despite facing significant unrealized losses. Over the past month, Bitmine increased its reserves by 325,000 ETH and has set a target to eventually hold 5% of the total circulating supply of the world’s second-largest cryptocurrency by market capitalization.
Mini dictionary: Bitmine Immersion Technologies — A company specializing in cryptocurrency mining and digital asset management, known for holding one of the largest corporate ETH portfolios in the sector.
HolderRecent AccumulationTotal TargetBitmine Immersion Technologies+325,000 ETH (Last Month)5% of ETH SupplyDisclaimer: 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.
A large Ethereum short on Hyperliquid is giving the market another glimpse of how serious capital is starting to use decentralized derivatives venues, not just centralized exchanges and OTC desks.
The position, tracked through the Hyperliquid explorer at wallet address `0x7fdafde5cfb5465924316eced2d3715494c517d1`, is sized at roughly $67 million against ETH. The wallet is labelled on-chain as “BobbyBigSize” and has been linked to quantitative institutional asset manager Fasanara Capital.
That sounds dramatic, and in some ways it is, but the important point is not simply that a large trader is short ETH. Large funds short assets all the time, and a short position does not automatically mean a trader is bearish in a simple, headline-friendly way.
The more interesting part is where the trade is happening.
Hyperliquid has become one of the most closely watched decentralized perpetuals exchanges in the market, and a position of this scale shows that on-chain derivatives venues are no longer only playgrounds for retail traders chasing leverage. They are becoming deep enough, and visible enough, for institutional-style positioning to show up in public.
TL;DR A Hyperliquid wallet linked to institutional trading activity is carrying a roughly $67 million ETH short. The position is visible through Hyperliquid’s on-chain explorer. The trade should not be read as simple ETH doom, because institutional shorts can be part of hedged or market-neutral strategies. A Big ETH Short Does Not Always Mean A Bearish Bet The instinctive read is obvious: large ETH short equals bearish Ethereum signal.
But that is too simple.
An institutional trader can short ETH for many reasons. It may be a directional bet, but it may also be a hedge against spot holdings, an offset against options exposure, part of a basis trade, or one leg of a broader market-neutral strategy. Funds that run quantitative books often care less about “ETH up or down” and more about relative pricing, funding rates, liquidity, volatility, and the relationship between spot and perpetual markets.
That is why this position needs to be handled carefully.
A $67 million short is large enough to watch, but it does not tell us the full book. We do not know, just from the short alone, whether the trader has long ETH somewhere else, whether they are hedging collateral, or whether they are running a spread trade across venues.
That is the difference between on-chain transparency and complete transparency. The position is visible, but the entire strategy is not.
Hyperliquid Is Becoming Harder To Ignore The venue is almost as important as the trade.
Hyperliquid has grown quickly because it offers a trading experience that feels closer to a high-performance centralized exchange than many earlier DeFi derivatives platforms. Fast execution, deepening liquidity, and a familiar perpetuals interface have helped it attract traders who may not normally spend much time on-chain.
That creates a different kind of market.
In earlier DeFi cycles, large traders often used decentralized venues for yield, liquidity mining, or niche token access, while serious derivatives flow remained mostly centralized. Hyperliquid has challenged that split. If large, professional traders can execute meaningful size on-chain, decentralized exchanges start to compete for a more valuable part of the market.
And because positions are visible, the market gets a new kind of signal.
Centralized exchange positioning is often inferred through funding rates, open interest, liquidation data, and exchange-reported metrics. On-chain perpetuals can expose wallet-level behavior more directly, although attribution still needs caution.
That visibility can make big trades feel more dramatic, but it also gives analysts more to work with.
ETH Traders Will Watch Funding And Liquidation Levels The short itself may become a reference point for ETH traders.
When a large position is visible, market participants often begin watching potential liquidation levels, funding changes, and whether the trader adds or reduces exposure. That can create its own feedback loop, especially if the position becomes part of the social trading conversation.
Still, it would be a mistake to assume the market can simply “hunt” a large institutional short.
Professional traders usually manage collateral, hedges, and risk carefully. If this position is part of a broader strategy, the visible short may only be one side of the trade. Trying to read it as a single vulnerable bet could lead to bad conclusions.
What matters more is that Ethereum derivatives activity is increasingly moving into venues where the market can observe it in real time.
That is a structural shift.
On-Chain Derivatives Are Growing Up Crypto has spent years arguing that finance will move on-chain, but derivatives have always been one of the hardest areas to migrate.
They require deep liquidity, strong risk engines, fast matching, reliable oracles, collateral management, and trader confidence. A venue can be decentralized in branding, but if it cannot handle size, serious traders will not use it.
Hyperliquid’s growth suggests that gap is narrowing.
The $67 million ETH short does not prove decentralized perpetuals have won, and it certainly does not prove Ethereum is about to fall. But it does show that institutional-style trades can now appear on-chain in a way that would have looked unlikely a few years ago.
That is the larger story.
The market is not just watching ETH price. It is watching where ETH risk is being traded.
If more large funds become comfortable using on-chain derivatives venues, the structure of crypto trading could keep shifting away from centralized exchanges alone and toward a more open, visible, and wallet-level market.
That may be uncomfortable at times, especially when large positions become public. But it is also exactly what on-chain finance was supposed to make possible.
This article is based on Hyperliquid explorer data for the relevant Ethereum short position.
This article was written by the News Desk and edited by Samuel Rae.
Robinhood CEO Vlad Tenev’s X account was hacked by people promoting a memecoin they claimed was the chain’s official mascot. This comes as the new Ethereum layer-2 network continues to generate a lot of buzz among traders, with the chain currently among the top networks in terms of revenue.
Hackers Hack Robinhood CEO’s X Account To Promote Memecoin In a now-deleted X post, the hackers promoted the Vladhood memecoin, which they said was the official Robinhood chain mascot. The hackers also stated that the meme coin would be listed on the Robinhood app.
Source: X “More importantly, we believe this is another step toward bringing more attention to Robinhood Chain, which remains our primary focus for Q3 and Q4,” the post read. It is worth noting that the memecoin was created just minutes before the post.
The Vladhood meme coin surged to a high of around a $10 million market cap. Onchain data shows that insiders have cashed over $1 million in profits. Meanwhile, the token is currently trading above a $4 million market cap even though the post has been deleted.
The Robinhood chain launched earlier this month and instantly generated a lot of buzz with the Cashcat meme coin. The chain has also seen a lot of activity, partly thanks to meme coin trading on the network. As CoinGape reported, Bernstein also raised their price target for the HOOD stock, citing potential revenue from the chain.
Exchange Confirms Hack Robinhood also confirmed the hack in an X post, stating that Vlad Tenev’s X account was compromised. “We’re working with X to restore access, and the post has been removed,” the exchange added.
🚨Heads up: Our CEO Vlad Tenev’s X account was compromised and posted a fake promotion for a meme coin.
We’re working with X to restore access and the post has been removed.
— Robinhood Comms (@RobinhoodComms) July 23, 2026
DeFiLlama data shows that the Robinhood chain currently ranks third in terms of revenue. The network has earned $1.1 million over the last seven days and $2.11 million since it launched earlier this month.
Meanwhile, the network’s total value locked (TVL) currently stands at $309 million, up over 3% in the last 24 hours.
For more information on trading stocks, please check out our page on Best Platforms to Trade Tokenized Stocks
Ethereum held above $1,900 for four consecutive daily closes, a streak last recorded more than one month ago.
At press time, Ethereum [ETH] traded around $1,914 after declining 0.79% over 24 hours. As ETH defended this level, two large buyers added over 30,000 tokens through separate transactions.
Why are Ethereum whales buying? According to Lookonchain, a whale bought 27,000 ETH worth $52.03 million through Galaxy Digital OTC. The transaction followed three months of wallet inactivity, marking a notable return to the market.
However, one purchase cannot confirm that the whale expects Ethereum’s broader downturn to be over.
Lookonchain also reported that Arthur Hayes bought another 644.34 ETH worth $1.25 million. The purchase lifted his eight-day accumulation to 3,270 ETH, acquired for approximately $6.27 million.
Together, both transactions reflected renewed demand from large buyers as Ethereum held above $1,900.
Source: CoinGlass Ethereum’s Spot Netflow turned negative after remaining positive for five consecutive days. At press time, Spot Netflow stood near -$16 million, indicating that more ETH left exchanges than entered.
Exchange withdrawals may reduce immediately available selling supply, although they do not guarantee continued price gains.
Are institutions buying Ethereum too? U.S. Spot Ethereum ETFs also recorded improving demand during the week.
Verified data for the 21st of July showed $37.47 million in Net Inflows, extending the streak to three sessions. BlackRock’s ETHA attracted $52.79 million, while Fidelity’s FETH recorded $15.32 million in Net Outflows.
Source: SoSoValue These flows showed renewed institutional interest, although three positive sessions cannot establish long-term positioning.
Ethereum’s Bulls versus Bears indicator reportedly remained positive for three weeks and reached 62. However, this reading requires the original TradingView chart before publication.
Source: TradingView The Moving Average Convergence Divergence [MACD] reportedly continued rising, suggesting that bullish momentum had improved. This signal also requires chart verification because its timeframe and settings were not provided.
If whale demand and ETF inflows continue, ETH could retest the psychological resistance around $2,000. A sustained move above that level would offer stronger confirmation than wallet activity alone.
Final Summary A whale bought 27,000 ETH, while Arthur Hayes lifted his eight-day accumulation to 3,270 ETH. Ethereum could retest $2,000 if whale demand, ETF inflows, and negative Spot Netflow continue.
Ethereum price today: $1,880Ethereum shaved 3% off its market cap on Thursday following an increase in open interest and brief negative funding rate flip.Four consecutive days of inflows into US spot ETH ETFs indicate continued recovery in institutional demand, but spot sentiment in the region has yet to flip positive.ETH fails to clear the 100-day EMA overhead.Ethereum (ETH) is hovering slightly below the $1,900 level, down 3% on Thursday following a slight expansion in derivatives interest.
The top altcoin's open interest has increased to 14.60 million ETH, marking a 600K ETH increase over the past two days and its highest level since June 7.
Open interest is the total worth of outstanding contracts in a derivatives market. Earlier in July, when ETH began its recovery, OI remained flat before the slight rise this week.
ETH Open Interest. Source: CoinglassA similar trend is noticed in the Estimated Leverage Ratio (ELR), which has largely remained flat before a slight rise over the past week.
The ELR measures an asset's open interest compared to its exchange reserves to give a view of the amount of leverage traders are using relative to spot pressure.
ETH Estimated Leverage Ratio. Source: CryptoQuantFunding rates have also been largely positive throughout the month but have begun to ease this week and briefly flipped negative on Thursday, the first time since June 29. Funding rates are periodic payments between long and short traders in perpetual futures markets to keep a contract's price aligned with its underlying spot counterpart.
Funding Rates. Source: CoinglassThe returning leverage could help expand ETH's recent rise, but emerging signals of a negative flip in funding rates also bring a price squeeze into the picture.
Meanwhile, on the institutional side, US spot ETH exchange-traded funds (ETFs) continued their positive streak, recording $72.64 million in net inflows on Thursday, according to SoSoValue data. The move marks a fourth consecutive day of net inflows for the products.
While US institutional interest is recovering, spot traders' sentiment in the region has yet to flip positive. The Coinbase Premium Index, which tracks sentiment among traders in the region, has remained in negative territory for nearly three months. A sustained move into positive territory could spread bullish sentiment into other regions.
ETH Coinbase Premium Index. Source: CryptoQuantEthereum Price Forecast: ETH falters before 100-day EMA againEthereum recorded $41.55 million in liquidations over the past 24 hours, led by $34.40 million in long liquidations, per Coinglass data.
On the daily chart, ETH is holding a constructive short-term tone as it remains above both the 20- and 50-day Exponential Moving Averages (EMAs) at $1,837 and $1,829. However, the upside remains challenged by a broader downtrend, with the 100-day EMA at $1,937 acting as a key overhead barrier, while momentum gauges remain supportive.
The Relative Strength Index (RSI) and Stochastic have eased toward 57 and 66, respectively, both hinting at steady but not extreme buying pressure.
On the topside, initial resistance emerges at the horizontal level of $1,909, ahead of the 100-day EMA at $1,937, with further bullish extension targeting $2,018 and then $2,107, where a denser supply zone begins toward $2,211 and $2,388.
ETH/USDT daily chartOn the downside, immediate support comes from the 20- and 50-day EMAs, followed by a more established floor at $1,806. A deeper pullback would expose $1,741, while only a break below $1,524 would seriously undermine the current constructive bias toward higher levels.
(The technical analysis of this story was written with the help of an AI tool. Know more.)
Santiment's Warning Plays OutOn-chain analytics firm Santiment flagged $DOGE in its weekly anomaly report, labelling it "hype without news." Social sentiment had climbed to +12.09 while price coiled in a tight range between $0.071 and $0.073, a pattern the firm described as a warning sign rather than a setup for a breakout. The key level to watch was clear: a daily close below $0.071 would hand momentum to sellers.
That line broke on July 23. Emotionally-traded assets like Dogecoin can flip direction fast , and this session was a reminder of exactly that. $DOGE slid to around $0.069, down nearly 5% on the day and the worst performer among the top 10 cryptocurrencies by market cap.
Oil Above $100 Did the DamageThe trigger was macro, not crypto-specific. Oil prices climbed back above $100 a barrel after Houthi militants claimed attacks on two Saudi tankers in the Red Sea, sending Brent crude futures up 7%. The shock rippled across risk assets broadly. The Nasdaq dropped 2.6% as rising oil prices and ballooning AI capital expenditure weighed on market sentiment.
Crypto was not spared. Bitcoin fell below $66,000 after reaching its highest level in over a month, as surging oil prices reignited inflation concerns. The risk-off rotation played out inside crypto too, with Bitcoin's dominance climbing to 59% as capital retreated from altcoins. $DOGE, which Santiment had described as amplified Bitcoin beta, fell harder than most, validating that read precisely.
When oil pushes above $100, crypto tends to struggle. The mechanism is spiking energy costs feeding inflation expectations, pushing rate-cut timelines further out, and draining the liquidity that risk assets depend on.
The setup is not necessarily broken beyond repair. A swift reclaim of the $0.071 level would put bulls back in contention. Until that happens, Santiment's framework holds: sellers are in control, and $DOGE remains the most vulnerable name in any broad market downturn. Not financial advice.
Sources:
MarketScreener: Oil Prices Hit $100 a Barrel While Tech Selloff Deepens
CoinDesk: Bitcoin Retreats as Oil Tops $85, Inflation Concerns Resurface
Motley Fool: Market Indexes Sink as Oil Tops $100 Amid Rising AI Costs
Whales keep increasing their exposure to the cryptocurrency.
Cardano’s native token is among the best-performing cryptocurrencies (from the top 100 club) over the past week, with its price rising by 8% to around $0.17.
Two key developments suggest the uptrend might be just at its starting point, while another factor hints that an upcoming correction is just as likely.
Bulls vs. Bears Earlier this month, the large ADA investors, known across the crypto space as whales, increased their total holdings to 25.6 billion coins. This represents almost 70% of the token’s circulating supply and is the highest level since February 2023. At the same time, retail investors have reduced their exposure to ADA, with Santiment explaining that this combination could create a healthy setup for the asset.
Just recently, the renowned analyst Ali Martinez revealed that whales have purchased 30 million units (worth over $5 million at current rates) over the last month. The obvious revival of this cohort of investors signals that they are positioning for the next potential price upswing.
There is a common theory in the crypto world that whales have access to inside information about events or news that could impact the valuation of a certain asset and that they rarely jump on the bandwagon out of pure intuition. That said, their efforts may encourage smaller players to join the ecosystem and distribute fresh capital.
The second bullish element is ADA’s Relative Strength Index (RSI). The technical analysis tool measures the latest speed and magnitude of price changes to evaluate whether the token is poised for a trend reversal. Readings below 30 put ADA in oversold territory and due for a possible rally, while anything above 70 serves as a warning for an impending correction. Currently, the RSI stands at around 28.
ADA RSI, Source: RSI Hunter However, there is also a bearish factor to be considered. Lately, exchange inflows have surpassed outflows, meaning that investors have abandoned self-custody and flocked toward centralized platforms: a development that increases immediate selling pressure.
You may also like: Whales Keep Loading Up on Cardano While Retail Dumps ADA Bitcoin (BTC) Starts July Under $60K, Cardano (ADA) Finally Rebounds: Market Watch ADA Faces Heavy Pressure, But Cardano’s On-Chain Data Tells Another Story ADA Exchange Netflow, Source: CoinGlass Recent Predictions Several analysts on X have noted ADA’s rebound, expecting a much more substantial push north in the short term. Master of Crypto claimed that if the positive trend continues, the price could surge to $0.219.
Others like JAVON MARKS are even more bullish, envisioning hard-to-believe explosions (at least from the current perspective). The analyst opined that ADA moves towards “a key convering/breaking point” which could open the door to an increase to as high as $2.90. Celal Kucuker also chipped in lately, predicting a major ascent to $5.
Swan Bitcoin CEO Cory Klippsten sharply criticized stablecoin giant Tether and Jack Mallers, who recently stepped down as CEO of Twenty One Capital.
Although Klippsten said Tether had "obfuscated it to some degree," he argued that the company effectively controls Twenty One, a publicly traded U.S.-based bitcoin treasury company.
Klippsten also alleged that Twenty One is being used as a vehicle to advance Tether’s interests in the U.S. "It's kind of their U.S. entity for them to do U.S. things and, you know, line pockets where needed for political reasons," he said during an interview on The Starting Block podcast on Thursday.
The Swan Bitcoin CEO didn't offer any evidence to support his claim about Tether using Twenty One for political reasons. Tether didn't immediately respond to a request for comment.
USDT, the world’s largest stablecoin, is primarily oriented toward markets outside the United States. Tether restricts most U.S. persons from directly using its platform, although USDT can still circulate through secondary markets. The company has nevertheless been working to expand its American footprint.
Besides launching USAT, a stablecoin designed specifically for the U.S. market, Tether backed the creation of Twenty One, which trades on the New York Stock Exchange under the ticker XXI.
Twenty One Capital (XXI) stock price chart. Source: The Block/TradingView Last year, Twenty One was created through a SPAC merger with Cantor Equity Partners. It launched with $3.6 billion in bitcoin on its balance sheet, at the time making it the third-largest holder of bitcoin among publicly traded companies. Strike founder Jack Mallers was named CEO of Twenty One.
Mallers exited Twenty One this week as his company Strike also dropped out of a potential merger. Tether Investments, Twenty One's majority shareholder, proposed in April a two-stage merger that would have folded Strike into Twenty One, which would then merge with bitcoin miner Elektron Energy.
"I've decided to step down as CEO of Twenty One," Mallers posted to social media amid his departure. "My life's work remains Bitcoin. My Bitcoin company is Strike. The work continues."
Klippsten characterized Mallers' position at the company as "ceremonial," saying the Strike founder's role was primarily to promote Twenty One's shares.
"He did his job, which was to shill the stock last April, which he did very aggressively," added Klippsten, who also said he doesn't believe it was Mallers' decision to leave Twenty One.
Mallers didn't immediately respond to a request for comment.
Disclaimer: The Block is an independent media outlet that delivers news, research, and data. As of November 2023, Foresight Ventures is a majority investor of The Block. Foresight Ventures invests in other companies in the crypto space. Crypto exchange Bitget is an anchor LP for Foresight Ventures. The Block continues to operate independently to deliver objective, impactful, and timely information about the crypto industry. Here are our current financial disclosures.
From a pronunciation joke to a live memecoinIt began with a lighthearted video from Tether Wallet asking whether the stablecoin giant's name is pronounced "Teh-ther" or "Tee-ther." Tether CEO @paoloardoino quote-posted it with a single word: "Fefer" alongside a blue dinosaur meme. Traders took the cue and ran with it, minting $FEFER on @Stable within hours and turning a throwaway gag into the chain's first memecoin moment.
The token's rise was quick. It surpassed an $8.8 million market cap within a day of launch, peaking near $11 million before pulling back. On-chain data from StableScan showed 5,814 holders and more than 54,000 transfers, with the largest single wallet controlling just 3.66% of supply, suggesting a relatively distributed holder base for a token that young.
What the moment reveals about Stable's early tractionThe @Stable network itself is a USDT-gas Layer 1 blockchain backed by Bitfinex and affiliated with Tether. The project is described as a dedicated stablecoin and payments Layer 1 blockchain backed by Bitfinex and powered by USDT. Tether CEO Paolo Ardoino serves as an advisor to Stable, reflecting the close relationship between the companies, which share common ownership through parent company iFinex. The chain is designed primarily for institutional payments and settlement, not retail speculation.
That makes the $FEFER episode a notable data point. A meme that spread from a CEO's social media post generated tens of thousands of on-chain transactions and drew thousands of new wallets to a network that had not yet seen meaningful retail activity. Stable's own account noted over 167,000 transactions in a 24-hour period as Fefer activity grew on the chain.
The pattern is not new to crypto. Culture and community tend to arrive on a chain before the payment infrastructure it was built for catches up. For Stable, a network with serious institutional ambitions, the irony is that its first viral moment came not from a PayPal integration or an Anchorage partnership, but from a CEO's dinosaur meme.
Sources
The Block: Stable launches mainnet and native token
CoinGecko: What Is Stable, Tether's Stablechain
Stellar (XLM), a decentralized digital asset and payment protocol developed by the Stellar Development Foundation, is currently priced at $0.184 after losing 2.32% over the previous 24 hours. Built to enable fast, cost-effective international transactions, Stellar utilizes the Stellar Consensus Protocol for efficient and secure validation of payments.
Market fundamentals and recent price trendsThe Stellar blockchain distinguishes itself by allowing straightforward currency exchanges, supporting both fiat and digital assets, and maintaining extremely low network fees of just 0.00001 XLM per transaction. Its mission includes promoting financial inclusion for unbanked populations, particularly in emerging markets. Strategic alliances with major financial firms have further encouraged the adoption of its protocol.
XLM, the native asset of the network, serves as both a transaction fee token and a bridge currency for asset transfers. The original supply of 100 billion coins was reduced in 2019 when the Stellar Development Foundation implemented a major burn. At present, approximately 30.6 billion XLM are in circulation, with the protocol finding increasingly practical use cases in remittances and asset movement.
Technical indicators show XLM experiencing high volatility, evident from the wide Bollinger Bands in recent sessions. Resistance has formed at $0.202, while support lies at $0.175, reinforcing the current bearish sentiment. The Relative Strength Index stands at 45 on the daily chart, reflecting selling pressure as transaction volumes tilt toward sellers.
Integrating professional-grade crypto management tools is more crucial than ever as the market fluctuates. Platforms such as CryptoAppsy, which requires no account creation hassle, combine investments with live prices, advanced charts, and portfolio tracking across currencies. This unified dashboard also provides smart price alerts, targeted news, updates about altcoin listings, and macroeconomic indicators including Federal Reserve interest rates, helping users respond instantly to market developments and mitigate risks.
Short-term and long-term price outlookSimple and exponential moving averages lean toward “sell” signals on daily timeframes, with the 50-day SMA at $0.1947 and the 200-day SMA near $0.1801. The Fear and Greed Index reflects a moderate fear level at 31, while the 14-day RSI hovers at 47.68, close to neutral but bearish overall. According to multiple forecasts, XLM could range from $0.148 to $0.236 in July 2026 and might reach a high of $0.268176 over the entire calendar year.
Broader projections suggest a gradual price climb for XLM, with 2028 estimates ranging between $0.477102 and $0.566291 and a possible jump to $1.16 in 2032. The token’s long-term trajectory remains tied to its adoption for payments, network upgrades such as the anticipated Soroban smart contracts, and ongoing partnerships within the financial sector.
Stellar maintains its appeal as a blockchain for cross-border payments thanks to near-zero fees, real-time settlement, and a growing network of institutional participants. The network’s capability to offer simple exchanges between fiat and digital currencies and its recent onboarding of firms like MoneyGram as validators reflect its institutional progress, despite lingering market volatility.
Investment sentiment and analysts’ projectionsStellar’s focus on affordable, fast payments continues to serve as a core value proposition. Industry forecasts by firms such as CoinCodex and DigitalCoinPrice see the token trading between $0.23 and $0.28 in 2026, with room for upside if broader market conditions remain positive. Analysts note that XLM’s future performance will likely depend on increased demand, network upgrades, and its role in the tokenization of real world assets.
Nevertheless, competition from other blockchains and the high circulating supply present ongoing challenges for price appreciation. XLM’s history of major supply reductions and periodic volatility also factors into its current valuation.
Recent network updates, including MoneyGram and Figure Markets running Tier 1 validators, underscore the protocol’s continuing commitment to infrastructure reliability and institutional engagement.
Predictions indicate a steady price increase may be ahead, with XLM targets for 2031 and 2032 set at $1.01 and $1.16 as adoption grows and project developments continue to add utility to the Stellar blockchain.
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.
The Depository Trust & Clearing Corporation (DTCC), a key infrastructure provider for the US capital markets, has started adopting the Stellar blockchain network for on-chain settlement of financial transactions. DTCC handles post-trade processing and settlements for equities, bonds, and funds, and is a central player in ensuring the smooth functioning of financial markets.
Regulatory clarity attracts institutionsDTCC’s selection of Stellar represents a major step toward institutional adoption of public blockchain technology. The organization’s decision demonstrates that regulatory compliance does not necessarily prevent large financial institutions from integrating public blockchain networks into their operations.
Market analyst Rajachak75 pointed out that DTCC’s move marks the first instance of a major regulatory body utilizing a public chain while maintaining strict compliance standards. As a result, compliance concerns are increasingly being seen as surmountable obstacles rather than prohibitive barriers in blockchain adoption by regulated firms.
Mini dictionary: DTCC (Depository Trust & Clearing Corporation) – The main centralized clearinghouse for securities settlement and depository functions in the US. It plays a foundational role in both post-trade operations and safeguarding the integrity of American capital markets.
Opportunities for broader tokenizationDTCC’s initiative signals to asset managers, fund administrators, and custodians that tokenization within a regulated system is increasingly feasible. This development paves the way for financial instruments such as Treasuries, money market funds, and private credit products to shift onto blockchain platforms, while still ensuring that settlements are completed in accordance with regulatory requirements.
DTCC’s adoption of the Stellar network creates a template for institutional tokenization in the capital markets, with regulatory clarity guiding the process and opening the door for broader industrial adoption.
Furthermore, developers and exchanges are now presented with new opportunities to build tools that will align blockchain platforms with existing financial data standards. Bringing compliance and traceability onto the chain supports innovation while upholding necessary oversight.
Tokenized RWA market growsThe market for tokenized real world assets (RWAs) is expanding rapidly. Data from Token Terminal reports that the total value locked in tokenized RWAs exceeded $8 billion in 2025, underlining growing investor demand for blockchain-based financial products.
MetricValueYearTokenized RWA TVL$8 billion2025Industry observers believe that widespread adoption of cross-chain standards and full interoperability with existing DTCC systems will be crucial for blockchain technology’s deeper integration into regulated financial markets. If successful, DTCC’s use of the Stellar network may offer valuable insights into how regulated markets can further embrace blockchain solutions in the coming years.
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.
TLDRCircle Forges Strategic Alliances with Kakao and Toss BankCircle Leverages Previous Korean Collaborations for Stablecoin GrowthSouth Korea Presents Prime Opportunities for Circle’s Payment Expansion Circle partners with Kakao Group to develop blockchain-based payment systems in South Korea. Toss Bank collaboration focuses on exploring stablecoin integration for payment services. New partnerships build upon existing relationships with Upbit, Bithumb, and Hana Bank. Kakao alliance extends Circle’s influence throughout Korea’s expansive digital ecosystem. Circle pursues compliant USDC payment expansion within South Korea’s regulatory framework. The stablecoin issuer Circle has strengthened its South Korean operations by establishing strategic partnerships with Kakao Group and Toss Bank. These collaborations emphasize developing blockchain-enabled payment systems and exploring stablecoin integration opportunities. Circle continues reinforcing its regional position by securing partnerships with prominent technology and financial sector players.
Circle Forges Strategic Alliances with Kakao and Toss Bank Circle formalized a memorandum of understanding (MOU) with Kakao Group to investigate blockchain-powered payment solutions throughout South Korea. This collaboration centers on digital transaction systems and wider blockchain technology implementations. Neither organization has disclosed specific product launches or deployment schedules.
Kakao commands one of South Korea’s most extensive digital platforms, encompassing messaging applications, payment processing, banking operations, and financial technology services. This alliance provides Circle with potential access to an ecosystem reaching millions of active users. The partners intend to evaluate blockchain innovations that could enhance future payment offerings.
Circle simultaneously initiated cooperation with Toss Bank to explore stablecoin-based payment solutions. The digital-only banking institution has recently intensified its blockchain engagement. Toss Bank previously established a partnership with the Solana Foundation to advance blockchain-powered financial infrastructure for international users.
Circle maintains its focus on cultivating partnerships with licensed financial entities throughout South Korea. The company prioritizes expanding real-world payment applications rather than developing a Korean won-denominated stablecoin. These recent agreements reinforce its broader regional expansion blueprint.
Circle Leverages Previous Korean Collaborations for Stablecoin Growth Circle established its South Korean presence through multiple strategic partnerships preceding these latest announcements. During April, the firm secured collaborative agreements with cryptocurrency exchanges Upbit and Bithumb. These platforms collectively dominate the nation’s cryptocurrency trading volume.
Subsequently, Circle finalized another memorandum of understanding with Hana Bank in May 2025. This relationship later broadened to encompass Hana Card. The collaborating entities focused on international remittance services and corporate treasury solutions utilizing USDC.
Circle has consistently stated it has no plans to introduce a Korean won-backed stablecoin. The company instead advocates for USDC as a dollar-denominated payment instrument. This approach contrasts with domestic stablecoin development initiatives.
KakaoBank progressed its won-backed stablecoin development efforts throughout late 2025. The two organizations may pursue independent stablecoin initiatives within the Korean market. Their partnership emphasizes payment infrastructure development rather than collaborative digital currency issuance.
South Korea Presents Prime Opportunities for Circle’s Payment Expansion South Korea represents a critical marketplace for blockchain payment innovation and regulated digital asset infrastructure. The nation features sophisticated digital banking systems alongside widespread mobile payment utilization. These factors position Circle to capitalize on stablecoin-powered financial service opportunities.
Kakao launched its blockchain initiatives with Klaytn in 2019. The platform subsequently integrated into the Kaia blockchain throughout 2024. This evolution produced a high-throughput Layer-1 blockchain capable of supporting diverse blockchain applications.
Circle garnered significant interest from South Korean retail investors following its public market debut in 2025. The organization simultaneously advanced partnership development across financial institutions and technology enterprises. Its territorial strategy emphasizes compliant payment infrastructure and streamlined cross-border transaction capabilities.
South Korea enforces rigorous digital asset regulations while simultaneously promoting blockchain technological advancement. The government prohibited initial coin offerings in 2017 and established mandatory exchange registration protocols. Circle nevertheless continues forging partnerships aligned with the nation’s regulated financial ecosystem.
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]
AMD officially launches rack-mounted AI system Helios, set to begin shipping soon.
The AMD Advancing AI Conference was held in San Francisco from July 22 to 23. At the event, AMD CEO Lisa Su announced that Helios has entered full production and will begin shipping soon. OpenAI’s Head of Infrastructure stated that the company plans to deploy AMD Helios at scale, and OpenAI will collaborate with AMD to develop the MI500 series AI chips and their subsequent products. Additionally, Su said AMD is partnering with chip design firm Cerebras to deliver high-speed inference capabilities via Cerebras’ cloud services. The joint product of AMD and Cerebras will hit the market later this year. The AMD-Cerebras system will launch an AI inference solution combining AMD Helios GPU server racks and Cerebras’ wafer-scale chips. CNBC analysis points out that a year ago, Su projected the 2028 AI accelerator market would reach $500 billion. The latest forecast puts the market size at the end of this decade roughly equivalent to the current entire semiconductor market. Su noted that GPUs will account for the majority of this share.
14 minutes ago
Trump: To use Iranian funds to compensate for ship and cargo losses
US President Trump stated, "Until further notice, effective immediately, all and any damages caused to vessels, cargo, or any related items shall be compensated using Iranian funds currently held and controlled by the United States. Although such compensation amounts may be substantial, this remains a fair and reasonable approach."
14 minutes ago
The United States has imposed additional tariffs ranging from 10% to 12.5% on 60 economies, with the measures taking effect today.
The Office of the United States Trade Representative (USTR) issued a notice on local time the 23rd, announcing that under Section 301 of the Trade Act of 1974, it would impose additional tariffs of 10% to 12.5% on dozens of countries and regions under the pretext of so-called "forced labor" to replace the expiring global import tariffs. The new tariffs will take effect at 12:00 noon ET on the 24th (12:00 noon Beijing time on the same day). The USTR stated that as the 10% global tariff is set to expire, this round of tariffs will be levied on 60 economies, covering more than 99% of U.S. trade volume. Senior U.S. officials added that tariff measures for goods in transit will take effect at 12:01 a.m. ET on July 28 (12:01 noon Beijing time on the same day). Imported goods including fuel, food, and fertilizers will be exempt from the new tariffs; products subject to specific industry-specific tariffs (such as automobiles, metals, and pharmaceuticals) are also excluded from the levy. Additionally, goods covered by the United States-Mexico-Canada Agreement (USMCA) will also be granted exemptions. U.S. officials noted that the new tariffs will not be imposed in tandem with existing steel and aluminum import taxes, namely the "Section 232" tariffs implemented by the Trump administration last year on national security grounds.
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Intel's revenue and outlook beat expectations, with its stock rising 13% in after-hours trading.
Intel (INTC.O) released an unexpectedly strong revenue forecast, indicating that surging data center spending is helping the chipmaker achieve its long-awaited recovery. The company said it expects third-quarter sales to reach $15.8 billion to $16.8 billion. Even the lower end of this range easily exceeds analysts’ average forecast of $15.1 billion. This forecast highlights Intel’s growth momentum among data center customers, who are urgently needing chips to meet AI computing demands. Last quarter, sales in this segment surged 59%, more than twice Intel’s overall revenue growth. After the earnings release, Intel’s stock rose 13% in after-hours trading. Additionally, Intel’s second-quarter revenue of $16.13 billion also exceeded the market expectation of $14.43 billion.
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Iraqi Prime Minister: Iraq will not allow actions threatening Iran to be launched from its territory.
According to a statement released by Iraq's Prime Minister's Press Office on the 23rd, Iraqi Prime Minister al-Zaidi visited Iran that day and held talks with Iranian President Pezeshkian in Tehran, the capital of Iran. Al-Zaidi stated that Iraq and Iran's security are closely linked, and Iraq will never allow any actions threatening Iran to be launched from its territory. Pezeshkian noted that security and stability are of great significance to the development of bilateral relations.
