Stablecoins are, undoubtedly, the main operating assets in digital finance. Visa’s stablecoin analytics dashboard showed more than $51 trillion in total transaction volume over the past 12 months.
Meanwhile, TRM Labs estimated stablecoins at 30% of all on-chain crypto transaction volume in 2025. This one asset category carried almost one-third of tracked crypto value movement, while Bitcoin and all other altcoins together accounted for the remaining share.
Almost every blockchain activity today runs through these dollar-pegged assets, whether it’s trading, treasury movement, or cross-border settlement.
So, stablecoins are arguably the most explosive asset class in terms of growth. What’s the next phase? As with any financial product, its adoption. And that can only happen through local-currency settlement, regulated access, and payment use cases tied to national economies.
In the UAE, this is already happening.
Not enough people are paying attention to what just happened in the UAE.$DDSC – a regulated, dirham-backed stablecoin – is now live on ADI Chain, approved by the Central Bank of the UAE.
Every transaction on ADI Chain needs $ADI for gas.
Now think about the UAE processing… https://t.co/OOtC1sS7vJ
— Sjuul | AltCryptoGems (@AltCryptoGems) February 12, 2026 UAE’s Financial Future is Running on Stablecoins Chainalysis estimated more than $56 billion in crypto value received by the country during its 2024 to 2025 reporting window, up 33% year over year, with institutional transfers driving a large share of activity and merchant services expanding across smaller retail transaction sizes.
On July 3, 2026, DDSC, the UAE dirham-backed stablecoin developed by International Holding Company, First Abu Dhabi Bank, and Sirius International Holding, received approval from the Central Bank of the UAE to partner with selected exchange platforms regulated by Dubai’s Virtual Assets Regulatory Authority.
The approval gives DDSC a regulated route from institutional settlement into wider market access, allowing users to access, buy, and redeem a dirham-backed stablecoin through compliant exchange channels.
UAE Stablecoin Adoption Stats A Dirham Stablecoin for a Dollar-Dominated Market Most stablecoin liquidity today remains tied to the US dollar. This gives global crypto markets deep liquidity and a familiar settlement currency, while domestic payment use cases still depend on conversion, exchange access, and banking relationships.
DDSC brings a local-currency option into the UAE’s own monetary environment. Pegged 1:1 to the UAE dirham and settled on ADI Chain, the token gives users a digital asset denominated in AED instead of forcing local commerce into dollar units.
This distinction is important for payment adoption because UAE shoppers, merchants, suppliers, and treasury teams all price everyday obligations in dirhams.
A stable asset in AED can keep pricing and settlement aligned while adding blockchain settlement speed, programmable payments, and 24/7 availability.
The UAE has already built much of the regulatory base around this category:
The Central Bank’s Payment Token Services Regulation created a framework for stablecoin-related services, including issuance, conversion, custody and transfer. VARA maintains a public register of licensed Virtual Asset Service Providers in Dubai, including platforms authorized for exchange services. DDSC connects these two regulatory channels. Central Bank approval covers the payment-token side, while access through selected VARA-regulated platforms gives users a familiar exchange route into the asset.
From Treasury Flows to Everyday Payments DDSC entered the market with an institutional focus. Since launch, IHC says it has processed more than AED 150 million in transactions. In May 2026, IHC executed an AED 110 million DDSC transaction on ADI Chain, presented as one of the region’s largest disclosed stablecoin transactions.
DDSC is more than able to support high-value settlement. The new approval, therefore, adds distribution, giving individuals, merchants, and businesses a route to acquire and redeem the asset through regulated exchange platforms.
DDSC is left with a more complete adoption path. Large transactions can prove settlement capacity, while exchange availability can bring the asset into daily commercial use. The first phase demonstrated settlement readiness, and the next phase focuses on availability through licensed venues.
VARA-Regulated Platforms and Compliance Control The approval applies to selected exchange platforms regulated by VARA, giving DDSC a controlled rollout through licensed channels and keeping access aligned with the UAE’s compliance framework.
For context, VARA oversees virtual asset activity in and from Dubai, excluding the Dubai International Financial Centre. Its public register lists licensed Virtual Asset Service Providers and the activities each provider is authorized to offer, including exchange services, broker-dealer services, custody, lending and investment management.
Indeed, stablecoin payments touch redemption confidence, merchant settlement, AML controls, custody, user access, and financial institution requirements. Exchange access through regulated platforms helps combine these requirements within a market structure users already understand.
DDSC’s rollout also shows how the UAE is separating regulated payment tokens from general crypto assets. Bitcoin, Ethereum, and volatile tokens continue to serve trading and investment use cases, while stablecoins such as DDSC are designed around payment value, redemption, and settlement.
This gives businesses a more suitable instrument for pricing, invoices, supplier transfers and customer payments.
A View Toward Merchant and Business Payments IHC said the stablecoin can support everyday payments once available through selected regulated platforms, including shoppers paying merchants, businesses settling with suppliers and transfers between people.
Retail customers want fast payments, merchants want predictable settlement, and businesses want lower operational friction across invoices, treasury, and cross-border counterparties. There is no doubt that stablecoins can support these flows when they combine price stability, reliable redemption, and regulatory acceptance.
DDSC’s AED designation gives it a local advantage. A UAE merchant accepting a dollar stablecoin still faces accounting and FX conversion work. A dirham-backed token fits local pricing more naturally, while on-chain settlement can reduce delays linked to banking hours and intermediary processing.
A Local Currency Asset for the UAE Digital Economy The UAE has spent years building a regulated digital asset environment across Abu Dhabi, Dubai and federal authorities. DDSC adds a local-currency payment asset to this environment, backed by major UAE institutions and aligned with the Central Bank’s payment-token framework.
DDSC’s growth ultimately depends on platform availability, merchant acceptance, redemption experience and business integration.
Even so, its Central Bank approval to partner with selected VARA-regulated exchange platforms brings the UAE dirham further into on-chain finance and gives the country’s digital asset market a regulated payment token built for domestic use and future regional settlement.
TLDR: Ethereum price forecast remains focused on the $1,800 zone, where about 4.30 million ETH previously changed hands. ETH could target $1,980 and $2,079 if buyers reclaim the high-volume resistance area with stronger spot demand. Binance ETH reserves have increased since late June, raising concerns about more available supply on the exchange. Derivatives data has improved, but flat open interest shows the latest ETH rebound is not mainly leverage-driven. Ethereum price forecast remains locked around the $1,800 level as buyers attempt to reclaim a major resistance zone. ETH recently traded near $1,780 after a sharp rebound from late-June lows. The move has improved short-term sentiment, but the structure still lacks broad confirmation.
Roughly 4.30 million ETH changed hands near $1,800, based on the UTXO Realized Price Distribution data. That makes the level a major supply area. A clean reclaim could open a move toward $1,980 and $2,079. A rejection may expose thinner volume below, with the next support baseline near $1,237.
Ethereum Is Entering a Distribution Phase
“Recent rebound lacks structural confirmation from largest participants. For a healthier setup, we would need to see reserves stabilize or decline, alongside a return of whale-sized orders.” – By @MorenoDV_ pic.twitter.com/lw4o21VjgK
— CryptoQuant.com (@cryptoquant_com) July 7, 2026
Ethereum Price Prediction Faces the $1,800 Supply Wall Ethereum price prediction now depends on how ETH reacts near the $1,800 resistance band. The zone has become important as both volume profile data and moving averages align near the same area.
ETH also faces pressure from the 50-day exponential moving average near $1,806. The 100-day EMA sits higher near $1,970, close to the next major upside target. This keeps the recovery below the medium-term structure for now.
Source: TradingView The daily chart shows a constructive but incomplete recovery. The RSI near 57 points to improving momentum, but it does not confirm a full bullish shift. The stochastic reading near 86 also shows that short-term upside could be stretched.
Immediate support sits near $1,741, followed by the 20-day EMA around $1,713. Deeper support levels stand near $1,524 and $1,405 if sellers regain control. A larger breakdown would bring the $1,156 area back into focus.
Ethereum price prediction would turn stronger if ETH closes above $1,806 with rising demand. The next upside levels would then sit around $1,909, $2,018, $2,108, and $2,211.
ETH Price Signals Show Demand Is Still Selective Binance ETH reserves have increased from 3.64 million to 3.87 million since late June. That marks an increase of about 221,000 ETH, or 6.1%. Rising exchange reserves can point to higher potential sell-side liquidity.
The order-size data adds a cautious signal. ETH Average Order Size has moved into “Whale Left” territory, according to CryptoQuant analysis. That suggests larger participants are reducing their market footprint.
ETH Average Order Size . Source: CryptoQuant This creates a weaker setup beneath the recent rebound. More ETH is available on Binance, while whale-sized demand has not returned strongly. Ethereum Price Forecast therefore remains sensitive to any failed breakout near $1,800.
Derivatives data looks more positive, but it does not show excessive leverage. Ethereum has gained about 14% since Net Taker Volume turned positive on June 28. Positive Net Taker Volume signals stronger buying pressure in perpetual markets.
Open interest has stayed mostly flat across the rebound. The estimated leverage ratio has also failed to rise sharply after its June decline. That suggests the move is not driven by aggressive leveraged longs.
This lowers the risk of a major long squeeze, but it also shows caution among traders. ETH needs stronger spot demand and whale participation to confirm a healthier trend. Meanwhile, US spot ETH ETFs have recorded three straight days of net inflows, adding some support to sentiment.
Ethereum recovery is entering its first meaningful test as buyers face a concentration of both technical resistance and on-chain supply.
The altcoin rebounded from $1500 and is moving back towards the highlighted supply zone, where sellers who were earlier defending higher prices are still holding ground.
Source: ETH/USD on TradingView Sellers hesitate not just because of technical resistance.
According to CryptoQuant data, reserves at Binance have climbed to 3.893 million ETH.
More to that, OKX continues receiving fresh inflows, so there is more ETH immediately available for sale.
Moreover, Bitfinex reserves have fallen from 2.7 million to 2.2 million ETH. This shows that accumulation exists while remaining concentrated. The $1800 level overlaps one of Ethereum’s largest cost basis clusters.
As a result, many holders are near breakeven, and they sell into strength as investors want to exit positions.
Unless fresh demand absorbs this overhead supply and recaptures $2000, recovery risks slowing before profitability returns broadly.
Assessing Ethereum’s demand base Ethereum’s recovery increasingly depends on who is absorbing the growing supply returning to the market. Exchange inflows continue adding sell-side liquidity, yet institutional demand is preventing that pressure from fully dominating price action.
Meanwhile, according to Coinglass data, recent liquidations exceeding $130 million highlight how sensitive market positioning remains as buyers and sellers continue competing around key resistance levels.
Spot ETH ETFs have attracted just under $11 billion in net new capital.
Additionally, whales and corporations are buying in larger numbers. However, staking now locks up over 30% of all ETH currently in existence. This thereby eases the initial supply shock associated with distributing some of this newly unlocked ETH.
Source: Farside Nevertheless, the fact that both Coinbase Premium and Spot CVD remain muted suggests a lack of broad-based spot engagement.
Investor sentiment toward exiting has also been reinforced by recent SOPR readings, which have indicated that investors generally still exit at or slightly above break-even.
Therefore, for Ethereum to absorb additional overhead supply and support further gains, stronger, more coordinated investor demand must materialize.
Final Summary Ethereum [ETH] must overcome heavy overhead supply to confirm a sustained recovery above key resistance. Ethereum needs stronger spot demand to absorb exchange supply and support a breakout above $2,000.
Ethereum is showing signs of recovery after rebounding from its late-June lows, currently seeking direction around the $1,800 zone. At the latest trading sessions, ETH has hovered near $1,780 as buyers attempt to reclaim a significant high-volume resistance area. Although short-term sentiment has improved compared to previous days, analysts say a broader bullish confirmation has yet to emerge.
The $1,800 zone comes into focusOn-chain price distribution data reveals that approximately 4.3 million ETH changed hands around the $1,800 level. This heavy trading history establishes this zone as a significant supply barrier. If Ethereum sustains gains above this threshold, targets of $1,980 and $2,079 could come into play. On the flip side, a rejection at this level could leave Ethereum exposed to further downside, with the $1,237 region standing out as the next major support.
According to CryptoQuant analyst Moreno, the latest rebound has not received structural support from large investors. Moreno points out that for a healthier outlook, exchange reserves should flatten or decline, and whale-sized orders need to resurface.
Technically, the 50-day exponential moving average is currently positioned near $1,806, representing a key short-term resistance level. The 100-day exponential moving average sits around $1,970, suggesting that the medium-term recovery lacks firm momentum so far.
Mini glossary: UTXO Realized Price Distribution is an on-chain metric that shows how much of an asset was transacted at different price levels. It helps identify zones where cost accumulation is significant and pinpoints potential support or resistance areas.
On the daily chart, the Relative Strength Index (RSI) stands at 57. While this indicates some momentum improvement, it stops short of providing a strong confirmation for a sustained upward trend. Meanwhile, the stochastic indicator has climbed to 86, suggesting that Ethereum may be temporarily overextended in the short term.
Support and upside targetsInitial support is seen at $1,741, with the 20-day exponential moving average nearby at $1,713. Should selling pressure increase, traders are watching $1,524 and $1,405 as deeper support levels. In a steeper decline, the $1,156 zone may become relevant again.
Level typeZoneMain resistance$1,800Short-term barrier$1,806Upside targets$1,980 and $2,079Initial supports$1,741 and $1,713If demand strengthens and ETH closes consistently above $1,806, further resistance levels at $1,909, $2,018, $2,108, and $2,211 will be under watch for additional upward movement.
Binance reserves rise as demand remains selectiveSince the end of June, Ethereum reserves on Binance have increased, causing caution about potential added supply in the market. The exchange’s ETH holdings grew from 3.64 million to 3.87 million, marking a rise of roughly 221,000 ETH or 6.1%. Binance is among the largest cryptocurrency exchanges worldwide by trading volume.
CryptoQuant data indicates that the average order size has shifted toward regions where whale participation is weaker. This trend shows that large investors played a limited role in the latest rebound. While more ETH is present on exchanges, robust high-volume buying has not returned, making breakouts around $1,800 more delicate.
Despite improvements in the derivatives market, open interest remaining flat suggests that Ethereum’s latest rise is not primarily driven by leveraged positions.
Since net long volumes turned positive after June 28, ETH has gained about 14%. However, open interest stayed mostly flat during the recovery, and there was no sharp uptick in estimated leverage ratios after the June drop. This setup indicates that the upside move is not fueled by excessive leveraged long positions.
While this reduces the risk of a major long squeeze, it also signals that investors are remaining cautious. For a more sustainable rally, stronger spot demand and renewed participation from major investors are considered necessary. The fact that US spot ETH ETFs recorded three consecutive days of net inflows has only provided limited improvement in overall market sentiment.
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.
According to OnchainLens monitoring, Cumberland transferred $4 million in USDC to Hyperliquid early this morning. The account currently holds total long and short positions worth $70.38 million: 86.37% of the position is allocated to shorting major cryptocurrencies including Ethereum, Bitcoin, and SOL, as well as key US equities, while 13.63% is used for long positions in indices such as the S&P 500. The account has accumulated a profit of $33.27 million.
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Tom Lee’s Ethereum conviction heading into Q3 is starting to look like a well-timed move.
For context, BitMine Immersion recently added another 42,197 ETH, taking its holdings to more than 5.74 million ETH.
On the other hand, Michael Saylor’s Strategy sold 3,588 BTC, setting up an interesting ETH vs. BTC treasury debate as Q3 gets underway.
Notably, this debate isn’t just playing out on social media.
As the chart below shows, the ETH/BTC ratio has opened Q3 with a nearly 5% rally after three straight losing quarters. That suggests ETH is beginning to regain relative strength against BTC, supporting Tom Lee’s decision to keep accumulating Ethereum.
Source: TradingView (ETH/BTC) However, Tom Lee’s conviction isn’t based on hope alone.
In a recent post on X, BitMine said the improving odds of the CLARITY Act are the main reason behind its growing ETH position.
According to the company, prediction markets now put the odds of the CLARITY Act passing at around 50%, the highest level in two weeks. BitMine argues that regulatory clarity would be a major catalyst for Ethereum, as smart contract platforms become more integrated into everyday finance.
So, from BitMine’s perspective, the recent rise in the ETH/BTC ratio simply reflects the market assigning a higher probability to the CLARITY Act becoming law.
Naturally, the bigger question now is whether that repricing has further to run. Can ETH continue outperforming BTC through the rest of Q3, or is BMNR’s bullish Ethereum [ETH] thesis getting ahead of the fundamentals?
Can Ethereum stay ahead as Bitcoin regains momentum? BitMine’s ETH accumulation is built around Ethereum’s long-term DeFi story.
But the on-chain data suggests that the narrative hasn’t fully played out yet.
According to DeFiLlama, Ethereum’s DeFi activity remains well below previous highs. Total value locked (TVL) is still under $40 billion, compared with around $89-90 billion before the October correction.
At the same time, Ethereum has started Q3 with its stablecoin supply down by more than $5 billion from roughly $160 billion at the end of June.
In other words, the market is pricing in the CLARITY Act before Ethereum’s on-chain fundamentals have caught up.
Adding to the challenge, BlackRock has resumed buying Bitcoin, recording more than $209 million in net inflows after 11 straight days of selling. The move signals renewed confidence in BTC at a time when ETH’s on-chain fundamentals are still lagging.
Source: SoSoValue Against this backdrop, Tom Lee’s ETH thesis looks increasingly ambitious.
Despite Strategy selling BTC, Bitcoin has continued to hold around $64k, suggesting BlackRock’s buying was enough to absorb the supply. That leaves the ETH vs. BTC treasury debate finely balanced, with Ethereum backed by policy optimism while Bitcoin continues to benefit from strong institutional demand.
As a result, the edge still leans toward Bitcoin.
ETH/BTC has rallied on CLARITY “expectation”, but Ethereum’s on-chain activity hasn’t followed through. Bitcoin, meanwhile, is seeing fresh institutional inflows. Unless Ethereum’s DeFi metrics begin to recover, sustaining ETH/BTC’s early Q3 momentum could prove difficult.
Final Summary ETH/BTC is rallying on CLARITY Act optimism, but Ethereum’s DeFi activity hasn’t caught up yet. BlackRock is buying BTC again, giving Bitcoin stronger support and making it harder for ETH/BTC to keep outperforming in Q3.
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CryptoQuant cited on-chain data, reporting that on July 7, Tether Treasury burned $2.5 billion worth of USDT on the Ethereum network. This marks the largest single burn on the network since February this year, exceeding the $2 billion burn on May 8, and second only to the all-time high of $3.5 billion recorded on February 10. Meanwhile, the USDT balance flowing into and out of Binance via the Tron network dropped to roughly $806 million, its lowest level since December 29, 2025 (when it hit $391 million), falling below the $1 billion threshold and signaling a significant contraction in USDT liquidity on Binance’s Tron channel. The large-scale burn by Tether Treasury primarily reflects redemption, fund management, or cross-chain rebalancing operations rather than a direct market signal. However, the synchronized contraction of Ethereum’s USDT supply and Binance’s Tron liquidity is worth ongoing monitoring, as market participants will watch whether the liquidity of dual-chain stablecoins continues this concurrent tightening trend.
3 minutes ago
CASHCAT's market cap briefly topped $98 million, surging over 11-fold in 24 hours.
According to GMGN market data, the market capitalization of CASHCAT, a meme coin on Robinhood’s chain, has continued its rally, briefly crossing $98 million before pulling back to $92.47 million, surging over 11 times in 24 hours. CASHCAT was originally the mascot of Robinhood’s U.S. stock app before being rebranded as Robinhood. On July 1 this year, Robinhood launched its own Layer 2 (L2) public chain, Robinhood Chain, focusing on on-chain finance and real-world assets (RWA). Vlad Tenev, co-founder and CEO of Robinhood, posted on X today that while the company is building Robinhood Chain into the best public chain for real-world assets (RWA), it is also “very suitable for trading meme coins.” BlockBeats reminds users that most meme coins have no intrinsic value and are highly volatile, so trading them requires caution.
3 minutes ago
Iran announces its initial response to the US: Strikes 85 key US military facilities
The Islamic Revolutionary Guard Corps (IRGC) of Iran issued a statement accusing the U.S. of repeating its treacherous habitual practices, claiming U.S. forces launched airstrikes on multiple coastal bases and civilian facilities in Hormozgan Province and the Mahshahr coastal region in the early hours of today, blatantly violating the ceasefire agreement and trampling on the Islamabad Memorandum of Understanding. In an initial response to the aggression, the IRGC Navy and Aerospace Force conducted a joint missile and drone operation, destroying 85 key U.S. military facilities located at Salman Port, the U.S. 5th Fleet base in Bahrain, and Kuwait’s Ali Al Salem Air Base. An enemy MQ-9 drone that attempted to interfere in the operation was also shot down. Separately, U.S. President Donald Trump posted a video titled "U.S. Strikes Iran" on social media, which showed ground targets being hit, with flames and smoke rising against the night sky. Trump provided no text commentary for the video, but later reposted it with a netizen’s post attached. The post read: "Breaking News: Massive Strikes on Iran." Earlier U.S. sources reported that Trump, who was attending the NATO summit in Turkey, had approved the plan to strike Iran and issued the strike order.
3 minutes ago
US CFTC sues crypto commodity pool operator Trevor Vernon, alleging $14.8 million in investment fraud.
On Tuesday, the U.S. Commodity Futures Trading Commission (CFTC) sued Trevor Vernon and his company Argent Capital Management, accusing them of operating a commodity pool involving stock index futures, options, and crypto assets from March 2022 to February 2026. They raised approximately $14.8 million from at least 60 investors while falsely advertising investment performance, allegedly committing investment fraud. The CFTC stated that the related trades caused investors to lose over $8.6 million. Vernon not only concealed the losses but is also suspected of misappropriating around $3 million to pay returns to investors, with the operation being "similar to a Ponzi scheme", and embezzled $136,000 for private air travel. The regulator also noted that the trades involved commodities such as Bitcoin and Ethereum, and requested the court to order them to cease relevant trading and registration activities, as well as recover illegal proceeds, impose civil penalties, and compensate investors.
3 minutes ago
Despite the plunge in chip stocks, global institutions are snapping up SK Hynix ahead of its blockbuster Nasdaq listing.
SK Hynix’s roughly $28 billion American Depositary Receipt (ADR) offering was oversubscribed several times ahead of pricing, with around 1,000 institutional investors taking part in roadshows, drawing strong subscriptions from global long-term funds and tech investors. If completed smoothly, the offering will rank among the largest U.S. listings by a foreign company, with the chipmaker set to debut on the Nasdaq Global Select Market this Friday. Despite recent sharp volatility in the global semiconductor sector, SK Hynix’s stock has declined around 17% this month, yet institutional subscription enthusiasm has not been materially impacted. Market observers note that U.S. investors have relatively limited investment access to the South Korean memory chip leader, and the scarcity premium plus long-term growth prospects tied to AI remain key supports for the offering. Jung In-yoon, CEO of Fibonacci Asset Management Global, said market volatility “may affect short-term investor sentiment or execution timelines, but I would be surprised if it materially disrupts the transaction itself. Unless market conditions deteriorate significantly from here, the pricing impact should be manageable.”
Not financial or tax advice. PANews content is strictly educational and informational and is not investment advice, financial advice, tax advice, legal advice, or a solicitation to buy or sell any digital asset, security, or financial product. Do your own research and consult qualified advisers.
Disclosure. PANews may publish sponsored content, partner content, advertisements, affiliate links, event promotions, and market commentary involving Web3 projects, service providers, or financial products. PANews personnel, contributors, or affiliates may hold digital assets or other interests related to covered topics. See our Terms of Service.
Not financial or tax advice. PANews content is strictly educational and informational and is not investment advice, financial advice, tax advice, legal advice, or a solicitation to buy or sell any digital asset, security, or financial product. Do your own research and consult qualified advisers.
Disclosure. PANews may publish sponsored content, partner content, advertisements, affiliate links, event promotions, and market commentary involving Web3 projects, service providers, or financial products. PANews personnel, contributors, or affiliates may hold digital assets or other interests related to covered topics. See our Terms of Service.
Leading cryptocurrencies and stocks fell on Tuesday after U.S. strikes on Iran and the revocation of the oil sanctions waiver rattled investors.
Crypto Rally StallsBitcoin briefly topped $64,000 in the afternoon before surrendering its gains, as trading volume dropped sharply over the past 24 hours
Ethereum followed a similar trajectory, spiking to $1,800 before facing a sharp rejection back to the mid-$1,770 region. XRP and Dogecoin also traded in the red.
Nearly $300 million was liquidated from the cryptocurrency market in the last 24 hours, predominantly in bullish long positions, according to Coinglass data
Bitcoin’s open interest fell 2.90% over the last 24 hours. Binance derivatives traders, including both retail and whale investors, bought the dip, increasing their long exposure to the apex cryptocurrency.
The market slipped back into “Extreme Fear,” according to the Crypto Fear & Greed Index.
Top Gainers (24 Hours)
The global cryptocurrency market capitalization stood at $2.2 trillion, with a slight 0.24% increase over the last 24 hours.
Stocks Retrace On Geopolitical TensionsStocks pulled back on Tuesday. The Dow Jones Industrial Average fell 130.76 points, or 0.25%, to close at 52,925.15. The S&P 500 slid 0.45% to end at 7,503.85, while the tech-heavy Nasdaq Composite declined 1.16% to settle at 25,818.69.
The slide followed the U.S. military launching a wave of strikes against Iran following attacks on commercial shipping in the Strait of Hormuz. The Treasury Department also revoked the sanctions waiver on Iranian oil exports, deeming Iran’s action “wholly unacceptable.”
On-Chain ‘Pain’ Pointing To Accumulation OpportunityOn-chain analytics firm CryptoQuant highlighted Bitcoin’s on-chain indicators at mid-year, noting that supply in loss exceeded 10 million, long-term holders were selling BTC at a loss and realized capitalization stood at $1.06 trillion.
“This level of on-chain pain is rarely observed and could suggest a potential medium- to long-term DCA [dollar-cost averaging] accumulation opportunity,” the research firm added.
Leading cryptocurrency analyst Ali Martinez said that Ethereum reclaiming $1,800 as an important support could clear the path for a move toward the next resistances at $1,980 and $2,079.
“Be aware that if sellers can protect this wall and force a rejection, the volume profile will thin significantly, leaving the next support baseline for ETH at $1,237,” the analyst cautioned.
Photo: KateStock / Shutterstock
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Bitmine Immersion Technologies just scooped up another 40,000 ETH for approximately $71.6 million, sourcing the tokens from FalconX and Kraken. The purchase is the latest in a series of massive over-the-counter acquisitions by the firm, which trades under the ticker BMNR and is directed by investor Tom Lee. The company has been on an Ethereum shopping spree throughout 2026, executing individual transactions ranging from $35 million to $123 million as it methodically works toward a staggering goal: controlling 5% of all Ethereum in existence.
The Alchemy of 5% Lee has named his strategy the “Alchemy of 5%.” As of early July 2026, Bitmine reported holdings exceeding 5.74 million ETH, representing approximately 4.8% of Ethereum’s total supply. In dollar terms, the company’s ETH treasury carries a valuation of around $10 billion.
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This latest batch of roughly 40,000 ETH follows a separate purchase of approximately 42,197 ETH for around $74 million in late June 2026.
Staking as the revenue engine About 85% of the company’s Ethereum holdings are staked through what it calls the Made-in-America Validator Network, or MAVAN. Rather than letting millions of ETH sit idle in a wallet, Bitmine locks it up to help validate transactions on the Ethereum network and earns rewards for doing so. The firm is projecting hundreds of millions in annual staking revenue from its holdings.
How Bitmine compares to the Bitcoin playbook While Bitmine has been aggressively accumulating ETH, Strategy has reportedly opted to liquidate some of its Bitcoin holdings. Lee’s thesis rests on what he sees as Ethereum being fundamentally undervalued, pointing to long-term catalysts like tokenization and increasing demand from artificial intelligence applications. Lee has publicly characterized current market conditions as an early phase of growth, expressing confidence in ETH’s fundamental values despite short-term price fluctuations.
What this means for Ethereum investors With 85% of Bitmine’s holdings locked in validators, the effective circulating supply of ETH is reduced further, meaning Bitmine is earning a disproportionate share of network rewards. BMNR stock performance has already benefited from the strategy amid broader market volatility.
Disclosure: This article was edited by Editorial Team. For more information on how we create and review content, see our Editorial Policy.
Bitcoin (BTC), Ethereum (ETH) and Ripple (XRP) face renewed selling on Wednesday, extending their corrective move so far this week. BTC faced rejection at $64,000, and ETH failed to break above the 50-day Exponential Moving Average (EMA). Meanwhile, XRP is extending its pullback for a fourth consecutive day. The top three cryptocurrencies signal risk of extending their ongoing corrections if critical support levels fail to hold.
Bitcoin extends correction after rejection at $64,000Bitcoin price trades at $62,898 on Wednesday, maintaining a bearish near-term bias as it holds below the 50-day, 100-day and 200-day Exponential Moving Averages (EMAs) at $65,578, $69,226 and $75,229, respectively.
The dense overhead EMA stack suggests rallies remain capped for now, even as the Relative Strength Index (RSI) hovers near a neutral 48 and the Moving Average Convergence Divergence (MACD) stays positive with the line above zero, and recent gains hint at improving but constrained upside momentum.
On the topside, initial resistance appears at the horizontal barrier around $64,004, followed by the 50-day EMA at $65,578, which reinforces a nearby supply zone. Higher up, the 100-day EMA at $69,226 and the 200-day EMA at $75,229 mark successive caps ahead of the more distant structural ceiling at $84,410, leaving the pair vulnerable to renewed selling while price trades beneath this layered resistance structure.
Ethereum faces rejection from the 50-day EMA at $1,803Ethereum price trades at $1,753 on Wednesday, maintaining a bearish near-term bias as it remains below the 50-day, 100-day, and 200-day EMAs at $1,803, $1,964, and $2,234, respectively.
Despite price being capped by this stacked EMA cluster, momentum has improved, with the RSI hovering near a neutral 52 and the MACD remaining in positive territory, with a firm reading around 27.75, hinting at ongoing recovery attempts within a broader downtrend.
On the topside, immediate resistance is located at the 50-day EMA near $1,803, followed by the 100-day EMA at $1,964 and the psychological barrier at $2,000, while the longer-term 200-day EMA at $2,234 marks a stronger cap on any extended rally.
On the downside, the next notable support sits much lower at the horizontal level around $1,385, where buyers are likely to defend the prior structural floor if the current rebound fails.
XRP shows signs of weaknessXRP price trades at $1.097 on Wednesday, holding below the 50-day, 100-day, and 200-day EMAs at $1.177, $1.279, and $1.493, respectively, which keeps the broader bias bearish. Price is also tracking within a downward parallel channel, with the upper boundary around $1.098 just above the market, while momentum looks mixed: the RSI at 44 remains below the midline, and the MACD prints modest positive readings, hinting at only a mild recovery attempt within a capped structure.
On the topside, initial resistance is located at the channel boundary near $1.098, followed by the 50-day EMA at $1.177 and the 100-day EMA at $1.279. Higher up, the horizontal level at $1.300 acts as a more significant barrier ahead of the long-term 200-day EMA at $1.493 and the major resistance zone around $1.900.
With no clear underlying support levels immediately below the current price in this dataset, any decisive rejection at the nearby $1.098 area would likely expose XRP to further downside within the prevailing bearish channel until new demand emerges.
(The technical analysis of this story was written with the help of an AI tool. Know more.)
Cryptocurrency prices FAQs Token launches influence demand and adoption among market participants. Listings on crypto exchanges deepen the liquidity for an asset and add new participants to an asset’s network. This is typically bullish for a digital asset.
A hack is an event in which an attacker captures a large volume of the asset from a DeFi bridge or hot wallet of an exchange or any other crypto platform via exploits, bugs or other methods. The exploiter then transfers these tokens out of the exchange platforms to ultimately sell or swap the assets for other cryptocurrencies or stablecoins. Such events often involve an en masse panic triggering a sell-off in the affected assets.
Macroeconomic events like the US Federal Reserve’s decision on interest rates influence crypto assets mainly through the direct impact they have on the US Dollar. An increase in interest rate typically negatively influences Bitcoin and altcoin prices, and vice versa. If the US Dollar index declines, risk assets and associated leverage for trading gets cheaper, in turn driving crypto prices higher.
Halvings are typically considered bullish events as they slash the block reward in half for miners, constricting the supply of the asset. At consistent demand if the supply reduces, the asset’s price climbs.
$111 Million in ETH Lands on CoinbaseA wallet believed to be connected to CoinShares, the European digital asset investment firm, has deposited 63,000 $ETH valued at approximately $111 million to Coinbase, according to on-chain analytics platform Lookonchain. The transfer was flagged on July 8, 2026, and quickly drew attention from market watchers tracking large institutional flows.
Deposits of this size to a major exchange typically raise questions about intent. Lookonchain, which monitors on-chain wallet activity in real time, identified the sending address as one possibly associated with CoinShares, though the firm has not publicly confirmed the transfer or its purpose.
Sale Speculation, But No ConfirmationThe movement has fueled speculation that a significant sell order could follow. However, no sale has been confirmed. Large transfers to exchanges do not always precede disposals. As industry observers note, institutional players often route assets to exchange wallets for settlement, rebalancing, or custody management rather than outright liquidation.
CoinShares is one of Europe's largest regulated digital asset managers, offering a range of crypto exchange-traded products. Transfers of this scale from asset managers can reflect routine operational activity, such as meeting redemptions from an investment product, rather than a directional market call.
For now, the transfer remains unconfirmed in terms of its purpose, and the broader market context will determine whether any follow-on selling pressure materialises. Traders and analysts will be watching Coinbase order flow closely in the hours ahead for any sign of a large $ETH sale.
Sources:
Lookonchain: On-chain analytics and whale tracking
CoinShares: Official website
On Tuesday, the U.S. Commodity Futures Trading Commission (CFTC) sued Trevor Vernon and his company Argent Capital Management, accusing them of operating a commodity pool involving stock index futures, options, and crypto assets from March 2022 to February 2026. They raised approximately $14.8 million from at least 60 investors while falsely advertising investment performance, allegedly committing investment fraud. The CFTC stated that the related trades caused investors to lose over $8.6 million. Vernon not only concealed the losses but is also suspected of misappropriating around $3 million to pay returns to investors, with the operation being "similar to a Ponzi scheme", and embezzled $136,000 for private air travel. The regulator also noted that the trades involved commodities such as Bitcoin and Ethereum, and requested the court to order them to cease relevant trading and registration activities, as well as recover illegal proceeds, impose civil penalties, and compensate investors.
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Billionaire Grantham is bearish on SpaceX: 90% probability of eventual collapse, casts doubt on the AI and Mars narratives.
Billionaire investor Jeremy Grantham, long renowned for warning of asset bubbles, has publicly cast doubt on SpaceX’s current roughly $2 trillion valuation, claiming the company’s AI business, Mars program, and long-term growth thesis all carry major flaws. He stated his "90% bet" is that SpaceX will eventually face a historic collapse. Grantham called it "incredible" that SpaceX attributed around 90% of its addressable market to AI in its IPO prospectus, adding that its AI products lack competitiveness compared to those of OpenAI and Anthropic. Still, mainstream Wall Street institutions remain broadly optimistic about SpaceX. With the company officially added to the NASDAQ-100 Index, it is expected to draw more passive capital inflows. Several investment banks including Goldman Sachs, JPMorgan Chase, and Morgan Stanley have issued positive ratings, noting that Starship, Starlink, and its AI business will serve as core drivers of future growth.
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Tether burned 2.5 billion USDT on Ethereum in a single day, marking the largest single-day burn since February.
CryptoQuant cited on-chain data, reporting that on July 7, Tether Treasury burned $2.5 billion worth of USDT on the Ethereum network. This marks the largest single burn on the network since February this year, exceeding the $2 billion burn on May 8, and second only to the all-time high of $3.5 billion recorded on February 10. Meanwhile, the USDT balance flowing into and out of Binance via the Tron network dropped to roughly $806 million, its lowest level since December 29, 2025 (when it hit $391 million), falling below the $1 billion threshold and signaling a significant contraction in USDT liquidity on Binance’s Tron channel. The large-scale burn by Tether Treasury primarily reflects redemption, fund management, or cross-chain rebalancing operations rather than a direct market signal. However, the synchronized contraction of Ethereum’s USDT supply and Binance’s Tron liquidity is worth ongoing monitoring, as market participants will watch whether the liquidity of dual-chain stablecoins continues this concurrent tightening trend.
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CASHCAT's market cap briefly topped $98 million, surging over 11-fold in 24 hours.
According to GMGN market data, the market capitalization of CASHCAT, a meme coin on Robinhood’s chain, has continued its rally, briefly crossing $98 million before pulling back to $92.47 million, surging over 11 times in 24 hours. CASHCAT was originally the mascot of Robinhood’s U.S. stock app before being rebranded as Robinhood. On July 1 this year, Robinhood launched its own Layer 2 (L2) public chain, Robinhood Chain, focusing on on-chain finance and real-world assets (RWA). Vlad Tenev, co-founder and CEO of Robinhood, posted on X today that while the company is building Robinhood Chain into the best public chain for real-world assets (RWA), it is also “very suitable for trading meme coins.” BlockBeats reminds users that most meme coins have no intrinsic value and are highly volatile, so trading them requires caution.
3 minutes ago
Iran announces its initial response to the US: Strikes 85 key US military facilities
The Islamic Revolutionary Guard Corps (IRGC) of Iran issued a statement accusing the U.S. of repeating its treacherous habitual practices, claiming U.S. forces launched airstrikes on multiple coastal bases and civilian facilities in Hormozgan Province and the Mahshahr coastal region in the early hours of today, blatantly violating the ceasefire agreement and trampling on the Islamabad Memorandum of Understanding. In an initial response to the aggression, the IRGC Navy and Aerospace Force conducted a joint missile and drone operation, destroying 85 key U.S. military facilities located at Salman Port, the U.S. 5th Fleet base in Bahrain, and Kuwait’s Ali Al Salem Air Base. An enemy MQ-9 drone that attempted to interfere in the operation was also shot down. Separately, U.S. President Donald Trump posted a video titled "U.S. Strikes Iran" on social media, which showed ground targets being hit, with flames and smoke rising against the night sky. Trump provided no text commentary for the video, but later reposted it with a netizen’s post attached. The post read: "Breaking News: Massive Strikes on Iran." Earlier U.S. sources reported that Trump, who was attending the NATO summit in Turkey, had approved the plan to strike Iran and issued the strike order.
3 minutes ago
Despite the plunge in chip stocks, global institutions are snapping up SK Hynix ahead of its blockbuster Nasdaq listing.
SK Hynix’s roughly $28 billion American Depositary Receipt (ADR) offering was oversubscribed several times ahead of pricing, with around 1,000 institutional investors taking part in roadshows, drawing strong subscriptions from global long-term funds and tech investors. If completed smoothly, the offering will rank among the largest U.S. listings by a foreign company, with the chipmaker set to debut on the Nasdaq Global Select Market this Friday. Despite recent sharp volatility in the global semiconductor sector, SK Hynix’s stock has declined around 17% this month, yet institutional subscription enthusiasm has not been materially impacted. Market observers note that U.S. investors have relatively limited investment access to the South Korean memory chip leader, and the scarcity premium plus long-term growth prospects tied to AI remain key supports for the offering. Jung In-yoon, CEO of Fibonacci Asset Management Global, said market volatility “may affect short-term investor sentiment or execution timelines, but I would be surprised if it materially disrupts the transaction itself. Unless market conditions deteriorate significantly from here, the pricing impact should be manageable.”
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A crypto whale opened a 40x short position worth $31 million in Bitcoin, and is now sitting on an unrealized profit of $112,400.
According to Onchain Lens monitoring, whale address 0x77ee recently opened a 40x leveraged short position on Hyperliquid for 493 BTC (valued at approximately $31.08 million), with an entry price of $63,240.9 and a liquidation price of $73,962.2. The position currently has an unrealized profit of around $112,400, delivering a return on equity (ROE) of 14.47%. Data shows the address holds a total of 15 positions, with a total position size of roughly $79.79 million, 92% of which are short positions. That said, the address’s cumulative historical trading losses still amount to $5.66 million.
Not financial or tax advice. PANews content is strictly educational and informational and is not investment advice, financial advice, tax advice, legal advice, or a solicitation to buy or sell any digital asset, security, or financial product. Do your own research and consult qualified advisers.
Disclosure. PANews may publish sponsored content, partner content, advertisements, affiliate links, event promotions, and market commentary involving Web3 projects, service providers, or financial products. PANews personnel, contributors, or affiliates may hold digital assets or other interests related to covered topics. See our Terms of Service.
The stablecoin market has quietly crossed $320 billion in total capitalization, but the real story isn’t the size. It’s the fracture. Dune Analytics data reveals that USDT and USDC, the two heavyweights of the dollar-pegged world, have evolved into fundamentally different products serving fundamentally different users.
Tether’s USDT commands over 59% market share with a supply between $184 billion and $197 billion. Circle’s USDC sits at roughly $73 billion to $75 billion. On raw supply alone, this looks like a blowout. But flip to transaction volumes and the picture inverts dramatically.
The volume paradox In January 2026, USDC processed $8.3 trillion in transfers. USDT handled $1.7 trillion. That’s nearly a five-to-one ratio, despite USDC having less than half the circulating supply.
The explanation lies in where each stablecoin lives. According to Dune’s data, 56% of all stablecoin transfer volume originates from DeFi liquidity pools. USDC has become the preferred settlement layer for decentralized exchanges, lending protocols, and automated market makers, particularly on faster networks like Layer-2 chains and Solana.
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Base chain, Coinbase’s Layer-2 network, led transfer volumes despite holding a relatively modest share of overall stablecoin supply. The chains optimized for speed and low fees are pulling USDC volume at disproportionate rates, suggesting that DeFi power users have made their preference clear.
USDT, meanwhile, has cemented itself as the payments rail of choice in emerging markets. Tron remains the primary hub for USDT activity, and the reason is straightforward: transaction fees on Tron are negligible.
Two stablecoins, two economies USDC has positioned itself as the institutional-grade stablecoin. Circle’s emphasis on transparency, regular attestations, and regulatory engagement has made it the default for firms that need to explain their treasury operations to compliance officers. Visa’s on-chain data for the first half of 2026 corroborates the growing volume trend, reinforcing that USDC’s velocity isn’t a fluke.
Ethereum still holds the largest stablecoin supply at approximately $176 billion. Stablecoin transfers exceeded $10 trillion in January 2026 alone. To put that in context, Visa’s entire global network processed roughly $14 trillion in the full year of 2023.
What this means for investors The US GENIUS Act and Europe’s MiCA framework are both designed to impose reserve requirements, disclosure standards, and licensing regimes on stablecoin issuers. Circle has spent years preparing for exactly this kind of regulatory future. Tether has spent years arguing it shouldn’t have to.
The 56% figure for DeFi-originated transfer volume is worth watching closely. If that number climbs, it suggests stablecoins are becoming even more deeply embedded in on-chain financial infrastructure rather than just serving as fiat on-ramps.
Traders should pay attention to which chains are gaining USDC supply share, as that metric increasingly functions as a proxy for institutional interest and DeFi activity migration.
Disclosure: This article was edited by Editorial Team. For more information on how we create and review content, see our Editorial Policy.
Why Is Tether Investing in Mercado Bitcoin? Tether is investing $20 million in Brazilian crypto platform Mercado Bitcoin as part of a strategic financing round aimed at expanding onchain financial infrastructure across Latin America.
The investment will support Mercado Bitcoin’s growth in tokenization, payments, lending, credit, and capital markets. The company, founded in 2013 as a crypto exchange, has expanded into a broader digital financial services platform that offers tokenized investment products, stablecoin payments, cross-border banking infrastructure, and regulated financial services.
The deal gives Tether a deeper position in Brazil, one of Latin America’s largest and most active digital asset markets. It also fits the stablecoin issuer’s wider strategy of using profits to back companies building blockchain-based financial infrastructure across payments, remittances, tokenization, and settlement.
Mercado Bitcoin said it serves more than 4.5 million users, has issued more than 2 billion Brazilian reais, or about $370 million, in tokenized assets, and holds nearly a dozen regulatory licenses across Brazil and Europe. Those licenses include a payment institution license from Brazil’s central bank.
What Does Mercado Bitcoin Bring to Tether? Mercado Bitcoin gives Tether exposure to a regulated platform with an existing user base, tokenized asset issuance, payment infrastructure, and financial services operations. That matters because stablecoin adoption in Brazil is increasingly tied to practical use cases rather than only crypto trading.
The company’s expansion beyond exchange activity reflects a wider shift in Latin America’s crypto market. Platforms that began with spot trading are now moving into credit, tokenized private assets, payment rails, and cross-border settlement. That creates more room for stablecoins to function as infrastructure for financial activity rather than only as trading pairs on exchanges.
Mercado Bitcoin said it will use the new capital to expand payments infrastructure, add more tokenized offerings, develop lending and credit products, and support its onchain capital markets strategy. In February, the company said it had deployed more than $20 million in tokenized private credit on Rootstock, a Bitcoin sidechain.
Tether CEO Paolo Ardoino said Mercado Bitcoin has built one of Latin America’s most comprehensive regulated onchain financial platforms, citing its licenses, tokenization infrastructure, and integrated financial services.
Investor Takeaway Tether’s investment is not only a bet on a Brazilian crypto exchange. It is a bet on regulated onchain finance in Latin America, where tokenized assets, stablecoin payments, and cross-border settlement are becoming part of the same market structure.
Why Brazil Matters for Stablecoin Infrastructure Brazil has become a key market for stablecoin adoption because of its large retail user base, active digital payments system, and growing regulatory framework for crypto and tokenized finance. Stablecoins already play an important role in the country’s digital asset flows, especially for users seeking dollar exposure, payments access, and faster settlement.
Tether has been increasing its activity in Brazil. Last month, Tether-backed payments app Oobit integrated Brazil’s PIX instant payment network, allowing users to deposit reais, hold funds in USDT, and spend through PIX. The payment system serves roughly 170 million users, making it one of the most important financial rails in the country.
That integration shows why Brazil is strategically important. A stablecoin issuer does not need to replace domestic payment systems to grow. It can connect stablecoin balances to existing payment rails and make crypto-based settlement easier for users who already rely on instant payments in everyday transactions.
For Mercado Bitcoin, the investment may help strengthen its role as a bridge between regulated finance and onchain products. For Tether, it expands the company’s footprint in a market where stablecoins are already being used for payments, trading, savings, and cross-border transfers.
How Does This Fit Tether’s Wider Investment Strategy? Tether issues USDT, the world’s largest stablecoin, with about $184 billion in circulation. The company reported approximately $1.04 billion in net profit in the first quarter of 2026 and has been using part of those profits for strategic investments.
In April, Tether participated in a $134 million funding round for Stablecoin Development Corporation, a NYSE American-traded company focused on expanding stablecoin access and digital asset infrastructure. A month later, it invested in remittance platform LemFi to support USDT integration as a settlement layer for cross-border payments across Africa and Asia.
Tether has also announced plans with the Government of Georgia to launch a stablecoin pegged to the Georgian lari under the country’s digital asset framework. Beyond stablecoin-related initiatives, the company has invested in artificial intelligence, energy, biotechnology, and digital media through its investment arm.
The Mercado Bitcoin deal extends that pattern. Tether is using its balance sheet to back companies that can increase stablecoin usage in payments, capital markets, and tokenized finance. The approach gives the company exposure to growth markets without relying only on USDT issuance.
Investor Takeaway The deal strengthens Tether’s position in Latin America at a time when stablecoins are moving from exchange liquidity into payments, credit, and tokenized assets. For investors, the key question is whether regulated platforms such as Mercado Bitcoin can turn that infrastructure into durable transaction volume.
What Are the Market Implications? The investment points to a more competitive phase for crypto infrastructure in Latin America. Exchanges, payment apps, tokenization platforms, and stablecoin issuers are increasingly competing to control the rails that connect users, fiat systems, and blockchain-based products.
For Mercado Bitcoin, the capital may accelerate product expansion and strengthen its position against regional and global competitors. For Tether, the deal offers another route into a market where stablecoin adoption is already high and where regulated financial platforms may become more important as oversight increases.
The broader implication is that stablecoin growth is becoming more institutional and infrastructure-driven. Rather than depending only on trading volumes, companies are building products around payments, credit, private markets, and cross-border settlement. Brazil’s combination of scale, digital payment adoption, and regulatory development makes it a natural testing ground for that shift.
Tether’s $20 million investment does not change the stablecoin market by itself. It does, however, show how the largest stablecoin issuer is using strategic capital to shape the financial platforms that could drive the next stage of stablecoin usage across emerging markets.
In brief Tether will invest $20 million in a strategic financing round for Mercado Bitcoin, a Brazilian crypto platform, to expand blockchain-based financial services in Latin America. Mercado Brazil said it now serves 4.5 million users, has issued more than R$2 billion in tokenized assets, and holds over 10 licenses across Brazil and Europe. Funds will go toward expanding payments infrastructure, scaling tokenized investment products, growing lending capabilities, advancing on-chain capital markets, and pursuing international expansion. Prominent stablecoin issuer Tether said Tuesday it will invest $20 million in a strategic financing round for Mercado Bitcoin, a Brazilian cryptocurrency exchange, as the two companies push to expand blockchain-based financial services across Latin America.
Mercado Bitcoin, founded in 2013, has grown from a digital asset exchange into a broader financial platform offering trading, tokenized investment products, credit and lending, stablecoin-powered payments, banking infrastructure, and cross-border services.
The company said it serves 4.5 million users, has issued more than 2 billion reais (about $387 million) in tokenized assets, and holds more than 10 licenses across Brazil and Europe, including a payment institution license from Brazil's central bank.
“Tether’s mission is to build open, accessible, and efficient financial infrastructure for the world,” said Tether CEO Paolo Ardoino, in a statement. “Mercado Bitcoin has built exactly that, a regulated, full-stack on-chain financial platform serving millions of users across one of the world’s most dynamic financial markets.”
“Its depth of regulatory licensing, tokenization infrastructure, and integrated financial services is unmatched in Latin America,” he added. “We look forward to supporting Mercado Bitcoin’s next phase of growth as a strategic partner and investor.”
According to the announcement, the new capital will go toward expanding payments infrastructure, scaling tokenized investment products for retail and institutional investors, growing lending capabilities, advancing on-chain capital markets, and pursuing international expansion.
“The discussion is no longer whether finance will move on-chain. That transition is already underway,” said Mercado Bitcoin Chairman and CEO Roberto Dagnoni, in a statement. “The focus now is on building the infrastructure that will support tokenization, stablecoins, payments, and capital markets at scale, reshaping how money moves, investments are accessed, and capital is deployed.”
“Mercado Bitcoin has spent more than a decade building the regulated foundation for this future, and this investment strengthens our ability to accelerate the next generation of on-chain financial services in Brazil and across global markets,” he continued.
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Tether’s USDT settled roughly $95 billion in identified commerce payments during the first half of 2026, nearly seven times the $14 billion processed by Circle’s USDC, according to Dune’s Digital Asset Brief. The data reveals that the two largest stablecoins are no longer direct competitors but chain-specific financial products serving distinct roles across the $315 billion sector.
USDT Anchors B2B Payments While USDC Fuels DeFi USDT accounted for approximately 92% of the $48 billion in business-to-business stablecoin volume during the first half of 2026, according to the Dune report. On Tron, the token’s largest network, roughly 93% of the USDT supply sits in ordinary wallets rather than on exchanges.
That distribution pattern points to USDT’s entrenched role as a remittance and payment rail, particularly in emerging markets where low transaction fees on Tron have made it the default transfer layer for cross-border commerce.
USDC occupies the opposite end of the spectrum. On Coinbase’s Base network, the token processed about $2.6 trillion in transfer volume in June alone, the highest of any token-chain pair tracked by Dune.
On Ethereum, USDC handled another $1.6 trillion during the same period. Daily velocity on Base reached approximately 20 times USDC’s circulating supply, a metric that reflects intensive use in liquidity provision, decentralized lending, and automated trading strategies.
Together, USDT and USDC account for roughly 83% of the stablecoin market’s approximately $315 billion capitalization, based on Dune’s tracking of more than 200 tokens across multiple blockchains.
Dune CEO Says Stablecoins Are Now Blockchain’s Largest Sector Dune co-founder and CEO Fredrik Haga said at ETHCC 2026 in Cannes that stablecoin usage in payments, treasury management, and B2B transactions has made the sector the most significant part of the onchain economy.
“That train has really left the station,” Haga said. “The numbers are simply much bigger, and this will continue to be the largest segment of the market.”
Haga added that recent US regulatory clarity is enabling a wider range of assets to move onchain but cautioned that over-regulating onchain activity risks breaking the programmability and composability that make these systems useful. He described stablecoins as the clearest and most scalable application of blockchain technology to date.
A Split That Complicates US Regulation The functional divide between USDT and USDC surfaces a question that US lawmakers have not yet resolved: whether a stablecoin used primarily for commerce payments should face the same regulatory treatment as one that underpins trillions of dollars in DeFi activity.
The GENIUS Act, signed into law in 2025, created the first federal framework for payment stablecoins. The CLARITY Act, which would define broader digital asset jurisdiction between the SEC and the CFTC, cleared the Senate Banking Committee on a 15-9 vote in May but has since stalled.
Three unresolved disputes, centered on ethics disclosures, DeFi developer protections, and stablecoin yield rules, blocked a floor vote before the administration’s July 4 target.
The Senate returns from recess on July 13 with roughly three usable weeks before the August break. Brian Gardner, chief Washington policy strategist at Stifel, wrote that the bill “probably needs to get through the Senate by the end of July” and that missing that window would cause its prospects to deteriorate significantly.
Tether just wrote a $20 million check to Mercado Bitcoin, Brazil’s largest regulated crypto exchange. The investment signals a deliberate push by the world’s dominant stablecoin issuer into Latin America’s fastest-growing digital asset market.
The funding will go toward expanding Mercado Bitcoin’s capabilities in tokenization, stablecoin-powered payments, credit and lending products, and on-chain capital markets. It also earmarks capital for international growth across the broader Latin American region.
Why Brazil, why now Mercado Bitcoin, founded in 2013, has grown into a full-stack financial platform with over 4.5 million users. The exchange has issued more than R$2 billion (roughly $360 million at current rates) in tokenized assets, making it a meaningful player not just in crypto trading but in bridging real-world assets onto blockchain rails.
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The platform holds more than 10 regulatory licenses spanning Brazil and Europe. Among them is a Payment Institution license from Brazil’s central bank.
Tether CEO Paolo Ardoino described Mercado Bitcoin as a “robust full-stack on-chain financial platform,” signaling that Tether views this less as a traditional venture bet and more as infrastructure backing.
Tether’s Latin American strategy takes shape Mercado Bitcoin’s leadership has indicated the capital will “significantly expedite” the platform’s transition toward fully on-chain services.
For context, Mercado Bitcoin raised $200 million in a Series B round back in 2021, led by SoftBank. That round valued the company at over $2 billion at the time.
What this means for investors The focus on tokenized assets and on-chain capital markets is notable. Mercado Bitcoin has already tokenized over R$2 billion in assets, and additional capital could accelerate the tokenization of credit instruments, real estate, and other traditional financial products.
There’s also the question of whether stablecoin-powered payments can genuinely compete with existing fintech solutions in Brazil, where companies like Nubank and PIX (Brazil’s instant payment system) have already captured enormous market share.
Disclosure: This article was edited by Editorial Team. For more information on how we create and review content, see our Editorial Policy.
Tether is no longer content just issuing the world’s largest stablecoin. The company is now buying into the platforms where that liquidity moves. On Tuesday, the issuer announced a $20 million strategic investment in Mercado Bitcoin, a regulated Brazilian on-chain financial services platform, as first noted in the original report. The deal puts Tether directly inside one of Latin America’s most licensed crypto operations, with 4.5 million users, over R$2 billion in tokenized assets issued, and more than 10 regulatory licenses spanning Brazil and Europe.
The capital will fuel Mercado Bitcoin’s push into payments, tokenized investment products, lending, on-chain capital markets, and international expansion. For a platform already operating under a layered regulatory framework, the funding isn’t about survival—it’s about scaling a model that merges traditional financial rails with blockchain-native infrastructure. Mercado Bitcoin’s existing tokenization efforts already give it a head start on competitors still stuck in spot trading.
Tether moves into infrastructure ownership The investment signals a strategic shift. Tether’s massive USDT reserves have historically sat in short-term U.S. Treasuries and similar instruments, generating yields that now flow back into building the plumbing of crypto itself. Placing a direct bet on a regulated exchange and tokenization hub in Brazil is a tighter integration than a passive treasury holding. It suggests Tether wants USDT to be more than a trading pair; it wants to own a piece of the venues where real-world assets get minted on-chain.
This fits neatly into the broader real-world asset trend that is reshaping how institutions view blockchain. Tokenized Treasuries, private credit, and commodities have crossed the $20 billion threshold on-chain, with major deals like Bullish’s $4.2 billion Equiniti acquisition reshaping the landscape, as covered in our recent weekly tokenization roundup. Tether’s move into Mercado Bitcoin lands squarely in that current.
Brazilian regulation meets stablecoin muscle Brazil has been quietly building one of the most coherent crypto regulatory frameworks among major economies. Mercado Bitcoin’s license roster reflects that. The country’s central bank and securities regulator have taken a posture that is less adversarial than the U.S. approach, where banks are still pushing back hard against legislative compromises just days before key Senate votes, a dynamic we analyzed in the story on the biggest U.S. crypto bill. While American lenders demand last-minute changes, Tether is embedding itself into a jurisdiction where the rulebook is clearer.
That regulatory gap matters. Stablecoin issuers face immense pressure from U.S. lawmakers and agencies. Diversifying operational depth into Latin America not only opens new revenue lines but also creates a hedge against an uncertain domestic regulatory outcome. Mercado Bitcoin’s licensed status across multiple jurisdictions gives Tether exposure to a compliant onshore platform without needing to build one from scratch.
What the market will watch next Several uncertainties surround the deal’s long-term impact. First, the exact mechanics of how Tether’s USDT will integrate with Mercado Bitcoin’s tokenized products remain unclear. It could mean USDT becomes the settlement layer for newly issued tokenized Brazilian real assets, or it could simply remain a capital injection with no direct stablecoin mandate. The former would be more consequential for market structure.
Second, competition among Latin American platforms is intensifying. Other exchanges are expanding their tokenization units, and global players like Circle have made their own pushes into the region. Whether Tether’s investment creates a moat for Mercado Bitcoin or simply raises the stakes will depend on execution speed and the platform’s ability to attract institutional issuers. Finally, the move raises the question of whether Tether will replicate this model in other emerging markets, building a network of vertically integrated regional hubs.
The funding round is modest by Tether’s balance sheet standards, but the strategic logic carries weight. When an issuer of a $110-billion-plus stablecoin starts buying equity in the venues that will tokenize real-world assets, the boundaries between infrastructure layers start to blur. For market participants watching the evolution of on-chain capital markets, Brazil just became a more interesting test case.
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Strike’s new volatility-proof Bitcoin loans shift price risk from borrowers onto the lender’s capital providers. Tether supplies the $2.1 billion credit facility behind the program and co-designed the loan structure itself. A proposed merger would fold Strike, Twenty One Capital, and miner Elektron Energy into one Tether-linked platform. The combined stack covers every core banking function except the safety net regulated banks carry. The headline this week belongs to Strike. On July 7 the company launched Bitcoin-backed loans with no margin calls and no price liquidations, promising that collateral stays untouched no matter how far Bitcoin falls, as long as borrowers keep paying. Most coverage stopped there. The more consequential story sits one layer down, with the entity actually carrying the risk. A loan that never liquidates on price means somebody holds undercollateralized debt through every drawdown, and that somebody, directly and indirectly, is Tether. The merger proposal from April read as corporate maneuvering at the time. Yesterday’s launch is what it looks like in production: a stablecoin issuer assembling deposits, credit, energy, mining, and capital markets into a working bank for the Bitcoin economy. No banking license. No central bank behind it. No deposit insurance in front of it.
The loan Strike sells, the risk Tether keeps Strike’s volatility-proof structure only works with deep pockets behind it. A borrower posts $100,000 in BTC at the product’s 45% loan-to-value cap and takes $45,000 in cash. If Bitcoin then falls 60% and stays there, the collateral covers about $40,000 against a $45,000 debt. A conventional crypto lender would have sold at 85% LTV. This one waits, holding the shortfall until repayment or maturity.
That patience is a balance-sheet luxury, and the balance sheet providing it is not Strike’s. Jack Mallers announced a $2.1 billion credit facility that he said gives the company capacity to meet demand at any order size, and Tether co-developed the volatility-proof loan structure itself. Even Strike’s proof-of-reserves system, which lets borrowers verify their collateral at a segregated on-chain address, was built with Tether’s help. Strike originates and services. Tether underwrites the tail risk. Traditional finance has a name for this division of labor: the originator model, the same architecture mortgage banks run with their warehouse lenders.
Six of seven banking functions, already in place Take the classic functions of a commercial bank and check them against what Tether now touches. The gaps are few.
Banking function Tether’s version Scale Deposits USDT in circulation Largest stablecoin by supply Lending Own CeFi loan book + Strike credit facility $2.1B facility; top-3 CeFi lender Payments & custody Strike (proposed merger) 95+ countries Reserves / treasury Twenty One Capital BTC treasury Top-tier corporate BTC holder Physical infrastructure Elektron Energy mining (proposed merger) ~50 EH/s, ~5% of network hashrate Capital markets Planned securitization arm Loan-book and mining revenue debt Lender of last resort None – Tether Investments published a proposal to merge Twenty One Capital with Strike and Elektron Energy, a mining operator managing roughly 50 EH/s, about 5% of Bitcoin’s network hashrate, into a single listed platform integrating treasury holdings, mining, financial services, lending, and capital markets. Mallers endorsed it from the stage at Bitcoin 2026. “Simply put, I think it’s a great idea,” he said, adding that his founding goal was always a Bitcoin company rather than a payments app.
Terms and timelines remain undisclosed, but the machinery is moving: in June, Tether designated an additional independent director to XXI’s board to restore the audit committee to SEC and NYSE independence standards, the kind of housekeeping that precedes a transaction, not one that follows a dead deal.
Mallers described an operation built around loan-book securitization, mining revenue securitization, Bitcoin-backed debt, and structured products. Packaging loans into securities and selling them onward is how banks recycle capital and lend beyond their own balance sheets. Nobody in crypto has run that machine at size. A merged Tether-Strike entity would be the first with both the origination volume and the distribution to try.
Three lenders now hold 89% of a market that used to have ten The crypto credit market recovered from 2022 with far fewer players. According to Galaxy Research data, the three largest centralized lenders, Tether among them alongside Galaxy and Ledn, hold combined loan books of $9.9 billion, close to 89% of the CeFi lending market. Tether sits at the top of that group with its own book, and now also funds the most aggressive product structure in the industry through Strike.
The pre-collapse era looked different. Celsius, BlockFi, Voyager, and Genesis competed for the same borrowers, and when they fell, the survivors absorbed the clients and the market kept functioning. The 2026 market has no such redundancy. One dominant creditor now stands behind deposits (USDT), wholesale credit (the Strike facility), and soon, if the merger completes, a meaningful slice of the mining hardware securing the network itself. Bank supervisors have a term for an institution whose failure would cascade through every layer of its system. Crypto has quietly grown one without anyone signing off on the designation.
To be fair to the other side of the ledger: Tether reports billions in annual profit from reserve yields, which gives it more loss-absorbing capacity than any pre-2022 crypto lender ever had. The company can genuinely afford to sit on underwater loans through a bear market. That is exactly what makes the no-liquidation promise credible today. It is also what makes the arrangement fragile in the one scenario that counts. A shock hitting Tether itself, whether from reserves, regulation, or redemption pressure, would now propagate simultaneously into stablecoin markets, the CeFi loan book, Strike’s borrowers, and a mining fleet. Banks carry deposit insurance and central bank liquidity lines for precisely this correlation problem. This structure carries neither.
Ledn and Unchained now need a $2 billion backstop of their own For borrowers, none of this is visible. Loans get approved, Bitcoin stays put, and the plumbing behind the $2.1 billion never surfaces in the app. The market feels it differently. Competing lenders like Ledn and Unchained still run LTV-triggered liquidation models, and matching Strike’s no-liquidation terms would require a capital partner willing to eat drawdowns measured in years, not hours. Few candidates exist. The likely outcome is consolidation around whoever has the largest balance sheet, which is the opposite of what a market still scarred by 2022 says it wants.
Bitcoin’s spot price mechanics change too. Forced liquidations have amplified every major sell-off since 2018 by dumping collateral onto exchanges at the worst possible moment. Loans that never sell on price remove one of those feedback loops. The selling pressure does not vanish; it converts into credit exposure sitting on Tether-linked balance sheets, waiting.
The open question lands on regulators’ desks, not traders’ screens. U.S. stablecoin legislation focused on reserve quality and redemption rights, not on what an issuer’s investment arm does with its profits. Lending billions against volatile collateral through affiliated platforms sits outside that perimeter entirely, and European supervisors under MiCA face the same gap. The proposed merger, which would put Elektron founder Raphael Zagury in the president’s seat of a listed entity combining all these pieces, will eventually force a decision: at what point does the Bitcoin economy’s largest private creditor become subject to something resembling bank supervision, and who moves first, Washington or Brussels?
CryptoQuant cited on-chain data, reporting that on July 7, Tether Treasury burned $2.5 billion worth of USDT on the Ethereum network. This marks the largest single burn on the network since February this year, exceeding the $2 billion burn on May 8, and second only to the all-time high of $3.5 billion recorded on February 10. Meanwhile, the USDT balance flowing into and out of Binance via the Tron network dropped to roughly $806 million, its lowest level since December 29, 2025 (when it hit $391 million), falling below the $1 billion threshold and signaling a significant contraction in USDT liquidity on Binance’s Tron channel. The large-scale burn by Tether Treasury primarily reflects redemption, fund management, or cross-chain rebalancing operations rather than a direct market signal. However, the synchronized contraction of Ethereum’s USDT supply and Binance’s Tron liquidity is worth ongoing monitoring, as market participants will watch whether the liquidity of dual-chain stablecoins continues this concurrent tightening trend.
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Binance has introduced BNB Agent Studio, a new platform that allows AI agents to access CoinMarketCap data directly via the Binance Pay infrastructure. This move is seen as a step that could expand the role of the BNB Chain ecosystem for developers, and market watchers are now focused on whether the announcement will drive significant short-term price action.
The structure behind the new platformCurrently, BNB is trading near $580, having rebounded from a low of $565 and even testing the $590 level. Market participants are closely monitoring whether the launch of this new feature will positively impact the technical backdrop for BNB’s price.
BNB Agent Studio enables developers to create AI agents without needing to set up an API key or a separate payment system. Binance has stated that every request is processed automatically via the B402 protocol. As one of the world’s largest cryptocurrency exchanges, Binance operates an extensive suite of products, including spot, derivatives, and payment infrastructure.
Glossary: B402 is a payment standard designed to automate pay-per-request flows for digital services, enabling software agents to make direct payments from their wallets when accessing data or services.
Binance has announced that developers can create AI agents with one-click access to CoinMarketCap data, with payment flows handled automatically through the agent’s wallet.
This development not only marks a product update, but also aims to make BNB Chain more attractive to teams building autonomous AI services. If adoption increases, it’s expected that transaction volumes on the network could grow over the long run.
The $590 threshold on the technical chartOn the daily chart, BNB found support at $565 and is now making an attempt to overcome the $590 resistance. The MACD indicator is signaling weakened selling pressure, suggesting potential for further upward momentum.
According to CoinGlass data, the size of open positions remains between $850 million and $900 million. This indicates that market participants are not entering with heavy leverage, but are instead approaching the market with greater caution.
IndicatorLevelInterpretationSupport$565A loss of this level could intensify downside pressureResistance$590A breakout could open up further upsidePotential target$620Next area to watch if momentum continuesOpen positions$850 million to $900 millionIndicates cautious participationIf BNB can break above $590 with strong volume, attention could turn to the $620 level; however, losing support at $565 could weaken the outlook again.
The strength of technical indicators and the level of developer interest in BNB Agent Studio are likely to shape BNB’s next move. If open positions grow alongside price increases, it could signal new capital entering the market.
On the other hand, failure to surpass $590 or a drop in open positions may sap the current recovery momentum. For now, the $590 barrier stands out as the most closely watched level in the short term.
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 XRP Ledger has seen a dramatic rise in the value of tokenized assets, reaching over $4 billion from $150 million within a year, according to a report by @coinbureau. This surge positions XRP among the top four global tokenization networks, alongside Ethereum and BNB Chain. The increase appears to be driven by institutional adoption and amendments like MPTokensV1, with inflows from spot XRP ETFs and stablecoin liquidity totaling over $1.2 billion. Notably, the JMWH energy-backed token contributes significantly to this figure, indicating a shift in the real-world asset (RWA) landscape.
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Key Takeaways The increase in tokenized assets on the XRP Ledger appears consistent with growing confidence in the platform’s utility. Market activity suggests potential for further XRP price increases, supported by the asset’s expanded role in tokenization. The development could indicate a competitive stance against Ethereum’s dominance in the RWA sector. What to Watch Observers should monitor the impact of ongoing institutional adoption and any regulatory developments, such as the CLARITY Act, which could further influence XRP’s market position. Key indicators include how XRP’s price reacts to these asset tokenization trends and whether it can sustain its growth trajectory. Additionally, any announcements regarding new XRP ETFs or amendments to the network could further shift market dynamics.
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Contract Odds Δ since publish Volume 24h August 1 2026 0.4% — — View market → August 1 2026 2.8% — — View market → August 1 2026 1.1% — — View market → August 1 2026 0.2% — — View market → August 1 2026 0.4% — — View market → August 1 2026 10% — — View market →
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Not financial or tax advice. PANews content is strictly educational and informational and is not investment advice, financial advice, tax advice, legal advice, or a solicitation to buy or sell any digital asset, security, or financial product. Do your own research and consult qualified advisers.
Disclosure. PANews may publish sponsored content, partner content, advertisements, affiliate links, event promotions, and market commentary involving Web3 projects, service providers, or financial products. PANews personnel, contributors, or affiliates may hold digital assets or other interests related to covered topics. See our Terms of Service.
Bitcoin (BTC) trades below $63,000 at press time on Wednesday, risking a steeper correction amid resurfacing tensions between the US and Iran. Zcash (ZEC) and Polygon (POL) have maintained a steady recovery over the last 24 hours, hinting at an extended breakout rally.
Bitcoin under pressure with US retaliatory strikes against IranUS military executed strikes against Iran on Wednesday in retaliation for three ships shot down by Tehran in the Strait of Hormuz. This renewed tension threatens to violate the Islamabad Accord and weighs on global markets. Brent crude oil price reached $75 on Wednesday, following a 5% jump the previous day, while Bitcoin was losing ground.
Bitcoin trades below $63,000 at press time on Wednesday, reflecting capped recovery below its 50-day Exponential Moving Average (EMA) at $65,581. The 200-day EMA at $75,459 sits well above the 50-day EMA, retaining a broader bearish bias.
From a technical perspective, a reversal in BTC threatens to retest the $60,000 psychological threshold, which could nullify the previous double-bottom reversal thesis.
That said, the momentum signals remain mixed on the daily chart, with the Relative Strength Index (RSI) at 48 moves flat near the midline while the Moving Average Convergence Divergence (MACD) holds above the signal line as the histograms contract, hinting at only residual buying interest.
BTC/USDT daily price chart.Bitcoin should clear the 50-day EMA at $65,581 to reinstate a steady bullish recovery that could target the $70,000 threshold, followed by the 200-day EMA at $75,459, which reinforces a broader cap on recovery attempts.
Zcash and Polygon flash early signs of recoveryZcash holds above its 50-day EMA at $455 after gaining roughly 7% the previous day. The privacy coin shows a constructive bullish bias in the near term as Tuesday's rebound marks the breakout of a local resistance trendline.
From a technical perspective, the 78.6% Fibonacci retracement, measured over the upswing from $184 to $690, at $520 serves as immediate resistance, capping the upside to the Fibonacci anchor at $690.
Momentum on the daily chart suggests the medium-term uptrend remains supported, with the MACD rising above the zero line and the RSI at 55 showing a steady recovery above the midline, indicating bullish-but-not-overbought momentum.
ZEC/USDT daily price chart.On the flip side, the 200-day EMA at $379, near a local support trendline, guards the downside toward the 50% retracement at $356.
POL edges lower on Wednesday after a steady recovery trend over the last week as it approaches a key resistance zone. The overhead barriers include the 50-day EMA at $0.07949, close to a descending trendline, maintaining a capped near-term tone. A decisive close above the moving average could confirm a bullish trend reversal in POL, with potential targets including the June 3 high at $0.09587.
The RSI near 52 shows a significant ease in selling pressure, while the MACD and signal line rise toward zero, hinting at improving but still-constrained upside momentum beneath these overhead levels.
POL/USDT daily price chart.On the downside, the previous swing low from July 1 at $0.06746 serves as the last line of defense.
(The technical analysis of this story was written with the help of an AI tool. Know more.)
Not financial or tax advice. PANews content is strictly educational and informational and is not investment advice, financial advice, tax advice, legal advice, or a solicitation to buy or sell any digital asset, security, or financial product. Do your own research and consult qualified advisers.
Disclosure. PANews may publish sponsored content, partner content, advertisements, affiliate links, event promotions, and market commentary involving Web3 projects, service providers, or financial products. PANews personnel, contributors, or affiliates may hold digital assets or other interests related to covered topics. See our Terms of Service.
This is a general announcement. Products and services referred to here may not be available in your region. Fellow Binancians, Starting at approximately 2026-07-08 15:00 (UTC), Binance will suspend the deposits and withdrawals of token(s) on the Metal DAO (MTL) network to support its network upgrade and hard fork to ensure the best user experience. The network upgrade and hard fork will take place at approximately 2026-07-08 16:00 (UTC). Please note: The trading of token(s) on the aforementioned network will not be impacted.Binance will handle all technical requirements involved for all users.Deposits and withdrawals for token(s) on the aforementioned network will be reopened once the upgraded network is deemed to be stable. No further announcement will be posted.There may be discrepancies between this original content in English and any translated versions. Please refer to the original English version for the most accurate information, in case any discrepancies arise. For more information, please refer to the announcement from the project team. Thank you for your support! Binance Team 2026-07-08
Binance will suspend MTL network deposits and withdrawals at 15:00 UTC on July 8. The network upgrade and hard fork are scheduled to occur at 16:00 UTC. MTL spot trading will remain unaffected during the upgrade; deposits and withdrawals will resume once the upgrade is completed and the network stabilizes, with no further announcement to be issued on this matter.
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A crypto whale opened a 40x short position worth $31 million in Bitcoin, and is now sitting on an unrealized profit of $112,400.
According to Onchain Lens monitoring, whale address 0x77ee recently opened a 40x leveraged short position on Hyperliquid for 493 BTC (valued at approximately $31.08 million), with an entry price of $63,240.9 and a liquidation price of $73,962.2. The position currently has an unrealized profit of around $112,400, delivering a return on equity (ROE) of 14.47%. Data shows the address holds a total of 15 positions, with a total position size of roughly $79.79 million, 92% of which are short positions. That said, the address’s cumulative historical trading losses still amount to $5.66 million.
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South Korean government warns of over-concentration in the semiconductor sector, and will closely monitor risks of stock market volatility.
South Korea’s Ministry of Finance stated that its finance minister held an emergency meeting with officials from the Bank of Korea and financial regulatory bodies, vowing to closely monitor stock market volatility risks, and warned that the semiconductor sector’s excessive weighting has become a core factor amplifying market fluctuations. Recently, driven by factors including cooling expectations for the AI sector, profit-taking, and portfolio rebalancing, the KOSPI has seen sharp swings, triggering its sixth circuit breaker this year, with a cumulative decline of 15.6% from its June peak. Meanwhile, South Korea’s Financial Supervisory Service (FSS) said it will focus on single-stock leveraged ETFs linked to chip stocks such as Samsung Electronics and SK Hynix, noting that these products could amplify market volatility and liquidity risks. While South Korean chip stocks rebounded on Wednesday, regulators cautioned that the market must remain vigilant against risks related to AI industry chain valuations and the semiconductor sector’s concentration.
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Paradigm led M1X Global's seed round to advance sovereign debt tokenization infrastructure.
Crypto venture capital firm Paradigm has led the seed round financing of sovereign debt tokenization platform M1X Global, supporting its expansion of on-chain sovereign debt issuance and management capabilities. M1X Global’s core product, USDM1, is launched in partnership with the government of the Marshall Islands. It is a U.S. dollar-denominated sovereign debt instrument issued directly on public blockchains, backed by U.S. short-term Treasury securities at a 1:1 ratio, and governed by New York State’s legal framework to protect investors. The proceeds from this round will primarily be used to drive institutional adoption of USDM1, including its use as compliant collateral in scenarios such as repo, margin, and collateralized financing, as well as to deepen integrations with banks, custodians, and trading platforms. Earlier, M1X Global closed an oversubscribed $3 million angel round in March 2026, with investors including Balaji Srinivasan and others.
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Trump pressures retailers to cut prices to fight inflation, demanding supermarkets lower beef prices.
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Prediction market platform Polymarket has announced support for instant, self-custodial deposits via the Bitcoin Lightning Network, with the new feature backed by the Spark Protocol. Compared to prior on-chain deposit methods that required waiting for 3 to 6 block confirmations and took 10 to 60 minutes, the new solution delivers near-instant settlement while lowering deposit barriers and transaction costs. According to details, Spark can conduct checks for double-spend risks, transaction fees, and Replace-by-Fee (RBF) at the time of transaction broadcast, enabling "zero-confirmation" posting. It also supports on-chain, Lightning Network, and stablecoin payment rails, removing the need for the platform to operate its own Lightning Network nodes. Polymarket noted that this step will further boost Bitcoin users' capital efficiency and strengthen its competitiveness against rival Kalshi.
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Not financial or tax advice. PANews content is strictly educational and informational and is not investment advice, financial advice, tax advice, legal advice, or a solicitation to buy or sell any digital asset, security, or financial product. Do your own research and consult qualified advisers.
Disclosure. PANews may publish sponsored content, partner content, advertisements, affiliate links, event promotions, and market commentary involving Web3 projects, service providers, or financial products. PANews personnel, contributors, or affiliates may hold digital assets or other interests related to covered topics. See our Terms of Service.
@Uniswap processed more than $250 million in trading volume on @RobinhoodApp's new blockchain in under a week, a figure that underlines the immediate demand for decentralized liquidity on a chain purpose-built for tokenized equities.
A new Ethereum L2 for tokenized finance Robinhood launched the public mainnet of Robinhood Chain on July 1, 2026, an Arbitrum-based Ethereum Layer 2 with 24/7 tokenized stocks that plug into DeFi as collateral. The chain is specifically designed to facilitate trading of tokenized real-world assets, including stock tokens and ETFs, with 100ms block times. The launch places Robinhood in a growing category of consumer-finance companies building their own blockchain infrastructure. Coinbase's Base and Stripe's Tempo are among the most visible examples, shifting attention and value away from the more neutral, developer-led ecosystems that originally defined the industry.
Robinhood is rolling out a new version of its tokenized-equity product, called Stock Tokens, inside the Robinhood Wallet in more than 120 countries, though availability depends on jurisdiction. Under the new structure, eligible users can trade around the clock on Robinhood Chain and use the tokens as collateral or deposit them into lending pools across DeFi. Stock Tokens are tokenized debt securities issued by Robinhood Assets (Jersey) Limited that track the price of the underlying stock but do not confer any legal or beneficial ownership in the security itself.
Uniswap takes the primary AMM role, $UNI surges Uniswap v2, v3, v4, and UniswapX are live on Robinhood Chain, a Layer 2 built by Robinhood Crypto. Uniswap serves as the primary public AMM on Robinhood Chain, with support on the Uniswap Web App, Wallet, and API available from day one. From day one, Uniswap supports Robinhood Stock Tokens on the Web App, Wallet, and API via UniswapX, Uniswap's intent-based trading infrastructure, and the AMM.
The $UNI token surged 11 to 14% following the chain's launch. More chains deploying Uniswap means more volume, which means more fees flowing through the protocol. The broader ecosystem also launched with significant infrastructure backing. Integrations with Alchemy, BitGo, and Chainlink give the chain rapid block times alongside ready-made DeFi capabilities including lending and borrowing, and the network is designed to be AI-native and tailored to real-world assets.
The tokenized equities market had a total market capitalization of $5.5 billion as of June 8, 2026, up roughly 147% from $2.23 billion at the start of the year, according to data from The Block. Robinhood's chain launch drops it into that market at a moment of rapid growth, with Uniswap's early volume numbers suggesting the infrastructure is already attracting real activity.
Sources
Uniswap Labs: Uniswap is Live on Robinhood Chain
Crypto Briefing: Uniswap protocol surpasses $250M in volume on Robinhood Chain in under a week
Fintech Global: Robinhood launches Robinhood Chain mainnet and DeFi suite
Uniswap Labs has called on UNI token holders to approve the next phase of its “UNIfication” burn initiative by voting on incorporating protocol fees across a segment of Uniswap v4 liquidity pools. The voting process began on July 7 and is set to run until July 12. Currently active on 11 blockchains, the program seeks to broaden its scope with these planned updates.
Voting process and program expansionThe process begins with a five-day Snapshot vote, after which an on-chain binding vote is expected to occur during the week of July 13. The proposal seeks to integrate the existing fee and burn mechanism with v4 pools on Ethereum, Arbitrum, Base, Celo, OP Mainnet, Soneium, X Layer, Worldchain, Zora, BNB Chain, and Polygon.
Mini glossary: A Snapshot is an off-chain voting system used by decentralized communities. Although results are not written directly to the blockchain, they serve as an important reference for subsequent binding governance votes.
Uniswap is recognized as one of the world’s largest decentralized finance (DeFi) protocols, providing critical infrastructure for decentralized exchanges. If the proposal passes, UNI tokens equivalent in value to the protocol fee collected from transactions will be burned. These tokens will be moved to an irretrievable address on the Ethereum network, permanently removing them from circulation.
Uniswap Labs launched Snapshot voting on July 7 to include v4 pools in the current fee and burn program, with an on-chain vote expected during the week of July 13.
What sets v4 apart?Unlike the more fixed fee structures of Uniswap v2 and v3 pools, fees in v4 pools can vary from block to block due to its unique “hook” system. This added complexity means v4 integration requires a more advanced architecture. The proposal outlines a dual-contract system to address this challenge.
The first contract establishes the pool’s applicable fee rate, while a secondary contract ensures the enforcement of these policies and transfers the collected fees to the designated address. This modular approach allows governance to adapt policies in the future simply by updating the policy contract, without having to overhaul the entire system.
Three types of v4 pools are covered in the proposal: pools without hooks, pools created through auctions, and pools that leverage aggregator hooks to import external liquidity. For the Base network, the fee is set at 3 basis points, while it’s planned at 10 basis points on other networks. Aggregator hook pools may set fees above the standard cap.
Network or pool typePlanned feeBase3 basis pointsOther networks10 basis pointsAggregator hook poolsAbove standard capImplications for liquidity providersWith protocol fees in place, a share of user transaction fees would be allocated to Uniswap itself, effectively reducing the returns for liquidity providers. This potential shift has ignited debate over balancing the interests of UNI holders and liquidity providers, who supply capital to the pools.
Guillaume Lambert, head of Panoptic, argued that a tax-like protocol fee structure in v4 could drive away liquidity providers, potentially harming the platform by repeating similar reductions seen in v2 and v3.
Burn metrics and recent ecosystem growthLast month, Uniswap posted a new daily record by burning 186,000 UNI tokens in a single day, surpassing the previous high of 134,000. As of July 7, UNI trades at $3.23 with a market capitalization of around $2 billion, far below its peak of $44.97 reached in May 2021.
Despite this price gap, Uniswap’s ecosystem continues to expand. At the start of July, the protocol debuted on Robinhood Chain, activating v2, v3, v4, and UniswapX products from day one. In less than a week, Uniswap processed over $250 million in trading volume on the new network.
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.
Not financial or tax advice. PANews content is strictly educational and informational and is not investment advice, financial advice, tax advice, legal advice, or a solicitation to buy or sell any digital asset, security, or financial product. Do your own research and consult qualified advisers.
Disclosure. PANews may publish sponsored content, partner content, advertisements, affiliate links, event promotions, and market commentary involving Web3 projects, service providers, or financial products. PANews personnel, contributors, or affiliates may hold digital assets or other interests related to covered topics. See our Terms of Service.
Not financial or tax advice. PANews content is strictly educational and informational and is not investment advice, financial advice, tax advice, legal advice, or a solicitation to buy or sell any digital asset, security, or financial product. Do your own research and consult qualified advisers.
Disclosure. PANews may publish sponsored content, partner content, advertisements, affiliate links, event promotions, and market commentary involving Web3 projects, service providers, or financial products. PANews personnel, contributors, or affiliates may hold digital assets or other interests related to covered topics. See our Terms of Service.
Solana has completed its first positive monthly close in nine months, marking a shift in momentum after a prolonged correction period. This comeback, which many in the crypto market interpret as a potential change in sentiment, follows a notable surge in SOL’s price and market capitalization. According to crypto analyst Ash Crypto, Solana has rallied 38% from its low of $60, adding roughly $14 billion to its market value in the process.
Nine month downtrend comes to an endAfter enduring persistent selling pressure in recent months, SOL broke its nine-month streak of consecutive negative candles with its latest monthly close. Investor interest rebounded as the price approached the $60 mark. While this reversal alone does not guarantee a new upward cycle, it does signal short-term recovery and renewed optimism among market participants.
Ash Crypto highlights that for the first time in nine months, Solana closed a month in the green, rebounding 38% from the $60 bottom and gaining about $14 billion in market cap.
Solana is widely recognized for its high throughput and low transaction fees among blockchain networks. The platform stands out particularly for its use cases in decentralized finance and token-based applications. The recent price recovery is seen not only as a technical blessing but also as a reflection of renewed network activity and user engagement.
Network data supports the reboundSOL’s price surge coincided with ongoing on-chain growth across the Solana ecosystem. Recent blockchain data points to rising transaction volumes, greater participation in decentralized finance, and increased stablecoin transfers. These trends indicate that network activity remained resilient, even during phases of weak price performance.
Mini glossary: On-chain data refers to direct measurements from a blockchain, including transactions, user activity, and asset flows. These metrics track actual network use independently of price movement.
In crypto markets, price movements and network fundamentals do not always align. Token prices can be influenced by broader macroeconomic factors, while consistent user activity tends to support long-term confidence. As a result, investors closely monitor not only price trends but also network vitality and engagement metrics.
Ongoing institutional interest in SolanaThroughout 2026, Solana has remained on the radar for institutional players. Asset management firms in the United States have submitted applications for spot Solana ETFs, while payment providers, tokenization initiatives, and decentralized finance platforms have expanded their support for the network. These developments reflect continued professional interest in the Solana ecosystem.
While no spot Solana ETF has yet been approved in the U.S., the ongoing filings keep institutional investors focused on the network. Analysts say that regulatory clarity will be a key factor shaping the flow of institutional capital into the ecosystem in the coming periods.
A single green monthly candle does not confirm a lasting bullish trend. Market participants are watching to see if SOL will form higher monthly lows and whether the recent recovery levels can hold as new support.
Looking forward, investors are expected to keep a close eye on on-chain metrics, developer activity, ETF application progress, and broader crypto market conditions. If ecosystem growth continues alongside improved market sentiment, Solana could further strengthen its position as a leading smart contract platform.
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.
According to monitoring by OnchainLens, Circle has issued an additional 250 million USDC on the Solana blockchain. So far in 2026, Circle’s total USDC issuance on the Solana chain stands at $65.03 billion.
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Prediction market platform Polymarket has announced support for instant, self-custodial deposits via the Bitcoin Lightning Network, with the new feature backed by the Spark Protocol. Compared to prior on-chain deposit methods that required waiting for 3 to 6 block confirmations and took 10 to 60 minutes, the new solution delivers near-instant settlement while lowering deposit barriers and transaction costs. According to details, Spark can conduct checks for double-spend risks, transaction fees, and Replace-by-Fee (RBF) at the time of transaction broadcast, enabling "zero-confirmation" posting. It also supports on-chain, Lightning Network, and stablecoin payment rails, removing the need for the platform to operate its own Lightning Network nodes. Polymarket noted that this step will further boost Bitcoin users' capital efficiency and strengthen its competitiveness against rival Kalshi.
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The FIFA World Cup 2026 has become an unlikely catalyst for crypto markets, and today’s Round of 16 clash between Colombia and Switzerland is the latest proof point. The match kicks off at 4:00 p.m. ET at BC Place in Vancouver, but the real action for crypto traders started days ago.
Chiliz, the native token of the fan engagement ecosystem built around Socios.com, has surged 28% following Colombia’s group-stage victory. That’s a remarkable move for a token that doesn’t even have a direct connection to either team playing today.
The fan token gap nobody expected Here’s the thing. Neither Colombia nor Switzerland has an official fan token available on leading platforms like Socios.com for this tournament. In a World Cup designed to be the most digitally integrated ever, two Round of 16 participants showed up without the crypto equivalent of team merchandise.
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That gap has turned CHZ into something of a proxy trade. Think of it like buying shares in a stadium company when you can’t buy shares in the teams playing inside it. Traders looking for World Cup exposure in the crypto space have gravitated toward the Chiliz ecosystem as the closest available bet on fan engagement sentiment.
Kraken enters the pitch The crypto-sports marriage got its most official blessing yet on June 9, 2026, when FIFA announced Kraken as the Official Crypto Exchange Supporter for the tournament. That’s not a banner ad on the sideline. It’s a strategic partnership focused on integrating blockchain technology and digital asset education across North America and Europe.
Prediction markets heat up While CHZ captures the fan engagement angle, prediction markets like Polymarket have been capturing something else entirely: real-time speculative interest in match outcomes. Today’s Colombia-Switzerland fixture has drawn increased activity on these platforms, with participants wagering on results using BTC and ETH.
What this means for investors If CHZ has become a barometer for World Cup sentiment, today’s match could trigger another leg of volatility. Colombia’s tournament run has been the primary catalyst for the token’s 28% move, and a knockout-stage win would likely amplify that trend. A loss could reverse it just as quickly.
The risk, as always, is that event-driven momentum fades fast. A 28% surge built on group-stage excitement can evaporate in a single match. Investors treating CHZ or any tournament-linked asset as a long-term hold based on World Cup performance alone are confusing a catalyst with a thesis.
Disclosure: This article was edited by Editorial Team. For more information on how we create and review content, see our Editorial Policy.
Switzerland just did something it hasn’t done in 72 years. On July 7, the Swiss national team defeated Colombia 4-3 on penalties after 120 minutes of scoreless, nail-biting football to reach the World Cup quarterfinals for the first time since 1954.
Fan tokens and Chiliz ride the World Cup wave The Chiliz (CHZ) token, which powers the fan token ecosystem on the Socios platform, surged 28% in the wake of the match. Chiliz has positioned itself as the infrastructure layer for sports fan tokens, partnering with major football clubs and leagues to create tradeable digital assets that let fans participate in club decisions and access exclusive rewards.
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The 28% spike was driven by a combination of increased trading volume and a broader uptick in fan engagement tied to the knockout rounds.
Prediction markets had a field day Prediction markets, including platforms like Polymarket, facilitated active betting on the Switzerland-Colombia match outcome. These decentralized platforms allow users to wager on binary outcomes using crypto, essentially turning every World Cup match into a real-time trading event.
The 0-0 draw through 120 minutes made this particular market especially volatile. As the match dragged on without a goal, the implied probabilities on both sides shifted dramatically, with prediction market participants repricing in real time as each kick landed or missed.
What this means for crypto investors watching the tournament Switzerland now faces Argentina in the quarterfinals. Fan token pumps tied to sporting events tend to be ephemeral, with surges in trading volume often driven by momentum traders and speculators rather than fundamental demand for the underlying token utility.
Major sporting events also serve as onboarding funnels for crypto. Someone who creates a wallet to bet on a World Cup match or buy a fan token is now a crypto user with a wallet address, bridged funds, and an understanding of the basic mechanics.
Disclosure: This article was edited by Editorial Team. For more information on how we create and review content, see our Editorial Policy.
Shiba Inu is still under a lot of pressure even though it appears to be stabilizing close to local lows. The meme coin is currently trading at about $0.0000044 after going through a protracted bearish trend for a few weeks, which has largely eliminated the recovery momentum that was observed earlier this year.
For SHIB bulls, the daily chart presents a challenging picture. After supporting price action in March, April, and May, the asset recently broke out of a rising channel. Sellers swiftly regained control after that structure failed, pushing SHIB in the direction of its current range. Even though the token saw a slight increase in value in June, there wasn't enough volume in the recovery to overcome significant resistance levels.
SHIB/USDT Chart by TradingViewFrom a technical standpoint, SHIB is still below the 50-, 100-, and 200-day moving averages. This alignment suggests that buyers still have a lot of work ahead of them and is usually linked to a significant downtrend. Stronger barriers still exist close to the 100-day EMA and the declining 200-day trend line, while the closest resistance zone is located around the 50-day EMA. The RSI, which is still close to oversold territory, is one positive indicator.
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In the past, when momentum indicators hit such low levels, SHIB has frequently generated relief rallies. Oversold conditions by themselves, however, do not ensure a reversal, particularly when overall market sentiment is still unstable. Instead of initiating a full recovery, SHIB seems to be establishing a temporary base for the time being.
A more significant rebound may occur if buyers are able to sustain support around present levels and progressively raise the price above short-term moving averages. However, the asset would be vulnerable to another downward leg if the recent lows were not held. Whether SHIB is forming a bottom or just pausing before continuing its wider decline will probably be determined over the coming weeks.
Bitcoin's shallow recovery effort Following a significant sell-off that pushed the price below a number of crucial support levels, Bitcoin is making an effort to rebound. Although the recent surge has helped Bitcoin return to the $63,000 area, it now faces one of its most significant technical challenges in months. According to the chart, after losing support from a rising trendline that had dominated price action for the majority of the spring, Bitcoin experienced a significant breakdown in June.
Before buyers intervened, the collapse set off a wave of selling pressure that drove Bitcoin down to the low $60,000 region. Bitcoin has since recovered its short-term 50-day moving average, a sign that the bearish momentum is starting to subside. The recovery is still not complete, though. BTC is still below the 100-day and 200-day moving averages, which are located close to $66,000 and $75,000, respectively.
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Major resistance zones that might draw sellers are represented by these levels. Additionally, during the recovery, volume has stayed comparatively low, suggesting that institutional conviction has not completely returned.
Growing participation is a prerequisite for strong recovery rallies, which is still lacking in the current movement. The RSI is getting close to neutral territory and has greatly recovered from oversold conditions. This change does not yet prove a trend reversal, but it does imply that the worst of the panic selling may be behind us.
The area between $65,000 and $66,000 is the most crucial level to monitor. The bullish case would be strengthened and a wider recovery toward higher resistance levels would be possible with a successful break above that zone. But if Bitcoin doesn't succeed there, the current trend might just be a relief rally within a bigger bearish structure. For the time being, Bitcoin's comeback is still viable, but before bulls can declare victory, significant technical challenges must be overcome.
XRP stays cautious After weeks of intense selling pressure, XRP is making an effort to recover, but the asset has reached a technical crossroads that could dictate its course for the rest of the month. Bulls won their first significant victory since the June breakdown when XRP surged back above the 50-day EMA. In the vicinity of $1.18, the price momentarily rose toward the 100-day moving average, but sellers soon emerged and rejected the move.
Because of this, XRP is still caught between a general bearish trend and rebounding momentum. Technically speaking, the chart still recommends caution. The 200-day moving average is still well above current prices, at about $1.50, while the 100-day EMA continues to serve as immediate resistance. Therefore, despite the recent uptick, the long-term structure is still bearish.
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An encouraging indication is that momentum has improved. Panic selling has mostly stopped, as evidenced by XRP's RSI rising from oversold territory and getting closer to the neutral zone. Additionally, volume has increased during the recovery attempt, indicating that buyers are at least prepared to defend recent lows. Whether XRP can turn this bounce into a real trend reversal is the crucial question.
The bullish case would be greatly strengthened by a daily close above the 100-day EMA, which would also pave the way for the $1.28 area, where the 200-day trend resistance starts to become apparent. However, another decline toward the $1.05–$1.08 support zone could occur if the current resistance is not overcome.
For the time being, XRP is more resilient than it was for the majority of June, but before a more significant recovery can be verified, bulls still need a clear breakout.
Solana expresses strengthAfter regaining several significant technical levels during its recent recovery, Solana is one of the few major cryptocurrencies exhibiting observable signs of strength. SOL has recovered above its 50-day and 100-day moving averages after a protracted decline. Right now, the asset is trading close to $81 and is consolidating just below a sizable resistance area between $82 and $85. This region served as support prior to the market-wide sell-off in June, but it now poses the biggest obstacle for buyers.
SOL/USDT Chart by TradingViewSince the June bottom, Solana has established a series of higher lows, in contrast to many altcoins that are still stuck below short-term resistance. This suggests that buyers are progressively taking back control of the market structure. Additionally, momentum indicators confirm the improving outlook.
The RSI has risen above 60, indicating increasing buying pressure that has not yet reached overbought levels. In the past, readings within this range have frequently coincided with the initial phases of more robust recovery rallies. The breakout above the moving averages has more credibility because volume has increased during the rise.
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Thin liquidity was not the cause of the recent spike; rather, a discernible rise in market participation was. A clear move above the $85-$90 range is the next goal for bulls. The 200-day moving average around $96 would come into focus with a successful breakout there, and it might also mark the start of a more significant trend reversal.
Nonetheless, traders shouldn't disregard the potential for a brief decline. Solana has recovered significantly from its June lows, and it would be typical to take profits close to resistance. The recovery structure is unaffected as long as SOL stays above its recovered moving averages.
Solana currently has one of the best technical setups of any major altcoin, but before the bear trend can be deemed completely broken, it still needs to get past long-term resistance.
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