Key Takeaways Himax Technologies currently trades at $13.16, approximately 45% under the analyst consensus price target of $23.70 Shares plummeted more than 45% over the last month following a nearly 66% surge in the preceding 90-day period Company forecasts “substantial” revenue expansion from AI and augmented reality glasses in coming years A major brand partner has integrated Himax’s WiseEye technology into smart glasses, with volume manufacturing slated for late 2026 Industry research points to Apple and Nvidia as potential unnamed anchor clients Himax Technologies ($HIMX) currently sits at $13.16 per share, representing a decline exceeding 45% throughout the previous month. This retreat follows an impressive rally that pushed shares up nearly 66% during the prior three-month window.
Himax Technologies, Inc., HIMX
The recent selloff hasn’t deterred Wall Street analysts, whose consensus fair value estimate stands at $23.70 — implying roughly 45% upside from current levels. However, a contrasting discounted cash flow analysis from Simply Wall St suggests intrinsic value could be as low as $2.32 per share.
This dramatic valuation discrepancy keeps the investment debate very much in play.
Bullish investors focus primarily on one catalyst: AI-powered smart glasses. Himax produces ultra-low-power artificial intelligence chips and micro display technology — specialized components that remain difficult to source and essential for battery-efficient smart eyewear functionality.
During the company’s Q1 2025 earnings discussion, CEO Jordan Wu revealed that “a leading brand has adopted our WiseEye for its smart glasses,” noting that high-volume production should commence later this year. Wu added that additional major brands are anticipated to join the ecosystem.
Research analysis from Hunterbrook Media and Citrini Research, examining patent filings, supply chain patterns, and capital allocation trends, indicates these undisclosed partners may include Apple and Nvidia. Neither technology giant has publicly acknowledged such arrangements.
Current Financial Performance Revenue has contracted on a year-over-year basis for multiple consecutive quarters, while net profit margins hover around 4%. These metrics don’t paint the picture of a traditional growth story.
Yet management has provided guidance calling for 10% to 13% sequential revenue expansion in Q2, which would simultaneously represent a return to positive year-over-year comparisons. The company also anticipates improved gross margin performance, potentially flowing through to enhanced bottom-line profitability.
Himax recently introduced its HE Series indirect Time-of-Flight depth decoder integrated circuits — a novel 3D sensing solution that OFILM has already incorporated into robotics applications.
The firm’s co-package optics (CPO) development represents another strategic initiative, focused on enabling ultra-fast data transmission for AI-driven data centers and advanced computing environments.
Industry Competition and Positioning Meta Platforms currently dominates the commercial smart glasses market. The social media giant unveiled a fresh product range in June with entry-level pricing at $224. Meanwhile, Apple, Alphabet, and Amazon are each developing proprietary versions incorporating augmented reality capabilities.
The investment case for Himax rests on its position as a cross-platform component provider, supplying multiple competitors rather than depending on a single platform winner.
The company’s market capitalization currently registers at $2.3 billion. Its 52-week trading range spans from $6.85 to $25.09, underscoring significant price volatility.
Himax confronts genuine operational risks. Geopolitical trade friction, tariff implementation, and inconsistent customer ordering patterns could pressure profit margins and earnings projections. The substantial gap between cash flow-based valuations and earnings-based models creates analytical uncertainty — both frameworks cannot simultaneously prove accurate.
According to its latest quarterly disclosure, Himax anticipates revenues from AI and AR glasses applications will expand substantially throughout the coming years, with mass manufacturing from at least one significant brand partner launching in late 2026.
Not financial or tax advice. PANews content is strictly educational and informational and is not investment advice, financial advice, tax advice, legal advice, or a solicitation to buy or sell any digital asset, security, or financial product. Do your own research and consult qualified advisers.
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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.
Moonbeam Network, one of the earliest and most prominent parachains on Polkadot, announced on July 3 that it will fully migrate its GLMR token to Base, Coinbase’s Ethereum Layer 2. The move effectively ends Moonbeam’s four-year relationship with Polkadot and repositions the project within the Ethereum ecosystem.
Holders have until July 31 to bridge their GLMR tokens 1:1 to a new ERC-20 version on Base through a dedicated migration portal. Centralized exchanges are expected to handle the swap automatically for tokens held in custody.
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What’s actually happening here Moonbeam launched in January 2022 as the first parachain on Polkadot. Its entire selling point was giving Ethereum Virtual Machine developers a home inside the Polkadot ecosystem, complete with staking, cross-chain compatibility, and familiar tooling.
Now it’s leaving. The project is rebranding around something called the Moonbeam Protocol, described as a decentralized network focused on AI agent communication and settlement for on-chain economies.
Users currently participating in DeFi protocols on Moonbeam’s parachain need to withdraw their assets before the migration completes. Tokens stuck in liquidity pools, staking contracts, or lending protocols need to be manually unwound before the chain winds down.
What investors should be watching The 1:1 token migration means GLMR holders aren’t being diluted. The more nuanced question is whether the move to Base and the pivot to AI agent infrastructure actually improves the token’s long-term value proposition.
The migration deadline of July 31 creates a compressed timeline that could lead to confusion, lost tokens, or liquidity disruption. Users who don’t actively manage the transition risk complications. The automatic migration through centralized exchanges should catch a large portion of passive holders, but on-chain users need to be proactive.
Disclosure: This article was edited by Editorial Team. For more information on how we create and review content, see our Editorial Policy.
Moonbeam Network has officially announced that it will completely cease its operations as a parachain on the Polkadot ecosystem, relocating the entirety of its GLMR token supply to Coinbase’s Base layer 2 network at a 1:1 ratio. According to the development team, Moonbeam will shift its focus to becoming a decentralized protocol that enables communication and on-chain consensus between AI agents, marking a major strategic overhaul for the project.
Moonbeam exits Polkadot ecosystemThis decision adds to the growing list of prominent departures from the Polkadot ecosystem. Once recognized as a leading EVM-compatible chain on Polkadot, Moonbeam now plans to terminate all parachain activity by the end of July. The team stated that the reborn Moonbeam Protocol will serve as a decentralized network for AI agent communication and consensus, reflecting a significant pivot in vision.
The Moonbeam team emphasized that this new structure is designed as a decentralized messaging and consensus layer for the on-chain economy of the future, positioning itself at the heart of AI agent infrastructure.
After years of development on Polkadot, the Moonbeam team confirmed that all GLMR tokens will be transferred entirely to the Base network, paving the way for the new Moonbeam Protocol.
Data from DefiLlama shows that Moonbeam’s total value locked on parachains stood at $275.73 million as of January 27, 2022. By July 1, 2026, this figure had dropped sharply to $1.34 million. Among Moonbeam’s largest DeFi protocols, Moonwell had previously migrated its governance structure to Ethereum’s mainnet, signaling changes even before Moonbeam’s official announcement.
Pioneering the AI agent economyMoonbeam’s future protocol is designed to let independent software agents find each other, negotiate tasks, exchange messages, and produce verifiable proofs for completed work. All settlement is planned to occur directly on Base, without the need for intermediaries, ensuring fast and decentralized coordination for on-chain AI agent activity.
Mini glossary: A “parachain” refers to an independent blockchain connected to Polkadot. “Layer 2” solutions aim to reduce processing costs and increase speed by handling transactions outside the main chain.
Rather than building its own AI models, Moonbeam aims to act as an economic infrastructure layer for coordinating machine-to-machine payments and verification of task completion. However, the project has not yet published a detailed technical roadmap, SDK documentation, protocol design, or a finalized launch date for its new direction.
GLMR migration timeline and price impactUsers holding GLMR in self-custody wallets must bridge their assets from Moonbeam’s parachain to Base at a 1:1 ratio by July 31. Once on Base, GLMR will adopt the ERC-20 token standard. The Moonbeam team recommends users withdraw GLMR from DeFi protocols prior to bridging.
Developers have warned that after the parachain shuts down, any GLMR remaining in DeFi applications may become irretrievable. For users keeping GLMR on centralized exchanges, no extra action is required—as exchanges are expected to manage the migration automatically. Moonbeam has also launched a portal to facilitate eligible users’ migration process.
On the market side, GLMR surged about 17% to $0.0104 on July 4, with 24-hour trading volume climbing 141% to approximately $6.46 million. Despite this jump, the token still trades roughly 99.95% below its all-time high of $29.84 recorded in January 2022. Circulating supply stands at around 1.19 billion, with a total supply of 1.24 billion GLMR.
Competition set to intensifyThe sector Moonbeam is entering—AI agent-based crypto infrastructure—is currently one of the fastest-evolving areas in the blockchain space. Moonbeam will not face just one competitor, but a variety of ecosystems focused on AI agents and automation. On Base, Virtuals Protocol is among the early projects working on autonomous applications and tokenized agents. Wayfinder specializes in cross-chain agent routing, while Spectral and Oraichain focus more on verifiable AI execution and oracle infrastructure.
Rather than directly engaging in the race to build AI agents or models, Moonbeam appears determined to carve out a niche as a payment and settlement layer. The success of this repositioning will depend largely on forthcoming technical details and the project’s execution timeline as more information becomes available.
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.
Moonbeam is fully migrating its GLMR token from the Polkadot parachain to Base, and relaunching as an AI-agent focused network, the project said in a strategic update posted to its official site. The bridge from Moonbeam to Base is open now, with a deadline of July 31, 2026. GLMR converts 1:1 into…
Moonbeam is fully migrating its GLMR token from the Polkadot parachain to Base, and relaunching as an AI-agent focused network, the project said in a strategic update posted to its official site. The bridge from Moonbeam to Base is open now, with a deadline of July 31, 2026.
GLMR converts 1:1 into a native ERC-20 on Base, Moonbeam said, preserving holders' stake "the moment you bridge." Users with positions in Moonbeam DeFi protocols, including liquidity pools, lending markets and staking contracts, must withdraw before bridging because funds left onchain "may become inaccessible" once the parachain winds down. Centralized-exchange holders will be migrated automatically by their exchange, per the update.
AI Agent PivotAlongside the token move, Moonbeam is launching the Moonbeam Protocol, which it describes as a decentralized network for AI agents to "find each other, negotiate work, and pay each other entirely on-chain, without a middleman." The team called it a pivot rather than a rebrand, betting on AI-native onchain coordination as its next growth vector after years operating as an Ethereum-compatible parachain within the Polkadot ecosystem.
Moonbeam said it will keep operating through the transition period and is not abandoning its existing builders or infrastructure providers, directing further updates to its governance forum. Bridging instructions point holders to the project's migration portal, with exchanges expected to coordinate separately.
The move marks one of the more significant exits from the Polkadot ecosystem by an established parachain project, shifting GLMR's settlement layer to Coinbase-incubated Base and reorienting the network's roadmap toward AI-agent infrastructure rather than general-purpose smart contracts.
What Comes NextMoonbeam gave no firm date for the Moonbeam Protocol's public launch beyond the July 31 bridge deadline. Further specifics on infrastructure changes and ecosystem support are expected via the project's forum and official channels on X, Discord and Telegram, according to the announcement.
Wallets belonging to the Royal Government of Bhutan sent 700 BTC valued at about $43.75 million to the crypto exchange Binance. This move comes as Bitcoin pushed past $62,000 on Saturday.
Bhutan Govt. Offloads $43 Million In Bitcoin The largest single transaction, according to Arkham Intelligence data, was 634 BTC worth approximately $39.6 million was transferred from a wallet associated with the government to a Binance deposit address. Another 66 BTC valued approximately $4.12 million were also sent to the same exchange deposit wallet in a separate transaction.
Moreover, the combined amount of the two transfers amounted to 700 BTC. It is worth approximately $43.75 million based on the current BTC price.
Even with the whiff of a large sell-off, a move to a central exchange does not necessarily indicate a real sale. Exchange wallets can be used by governments and institutional investors for various purposes. These include over-the-counter (OTC) trades, collateral management, intra-fund consolidations, or liquidity operations. It remains unclear what prompted the transfers.
The Royal Government of Bhutan deposited 700 $BTC ($43.75M) into #Binance.https://t.co/TEKoW47knShttps://t.co/f2cL5LdzN2 pic.twitter.com/1WAWC0VN1a
— Onchain Lens (@OnchainLens) July 4, 2026
According to the blockchain records, around 1,750 BTC is still in Bhutan’s hands. This stash is valued at around $109.27 million after the most recent transfers.
The recent activity comes after a couple of past Bitcoin transactions by Bhutan-related wallets back in the previous month. Some of the earlier transfers that have been traced to Arkham involved 364.984 BTC worth some $22.26 million and 188.558 BTC valued near $11.47 million.
It also included movement of 150.458 BTC valued at approximately $9.14 million. Overall, it sent 1,095 BTC, totaling over $67 million at the time.
Bitcoin Climbs Above $62,000 Meanwhile, Bitcoin’s resurgence above $62,000 coincided with the most recent U.S. labor market data. The U.S. economy created 57,000 jobs in June, far short of the 115,000 expected and a downward revision of 43,000 jobs in May, according to the Bureau of Labor Statistics.
The U.S. jobless rate was 4.2%, just below the 4.3% forecasts. It suggests that the markets’ fears that employment data may have been weaker than anticipated were unwarranted. This narrative is supporting hopes that the Federal Reserve will keep cutting rates to combat inflation.
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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.
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TLDR; US Stock market rally became Trump’s main economic message as he linked gains in the S&P 500, Nasdaq and Dow to tax cuts and investment. Bitcoin’s move near $62,000 showed how weaker jobs data and lower rate fears can quickly support risk assets after heavy volatility. The Trump economy narrative now connects traditional markets with crypto market sentiment, especially as traders watch Fed policy signals. Policy risk still matters as the CLARITY Act, tariff talks and AI-linked earnings could shape market direction through the second half of 2026. Donald Trump framed the US Stock market rally as evidence that his economic agenda is gaining traction. He said stronger markets, tax cuts, exports and private investment showed the economy had entered a new growth phase. The comments landed as risk assets also improved.
Bitcoin traded near $62,444, while Ethereum was around $1,624.95 and XRP traded close to $1.059 at last check. The move followed a volatile second quarter, with traders now linking equities, crypto market sentiment and Federal Reserve expectations more closely. It also put Trump’s economic message back at the center of market debate.
US Stock Market Rally Gives Trump A Golden Age Message Trump said the US Stock market rally had delivered the strongest quarter for major indexes since his previous presidency. He pointed to gains in the S&P 500, Nasdaq Composite and Dow Jones Industrial Average. He also said stronger 401(k) balances were helping households feel the impact of the market rebound.
"We are the strongest and most powerful country on Earth. And by the grace of God, the United States of America is the most successful, most accomplished, most exceptional nation ever to exist in human history." – President DONALD J. TRUMP 🇺🇸 pic.twitter.com/bGVSS80bJu
— The White House (@WhiteHouse) July 4, 2026
Market data gives that claim a strong backdrop. According to market data, the S&P 500 gained 14.9% in the second quarter, while the Nasdaq climbed 21.4%. The Dow rose about 13%, marking its biggest quarterly jump since 2022. MarketWatch data shows Dow ended the first half with its strongest performance since 2021.
Trump tied the Trump economy message to tax cuts for working families, rising exports and a smaller trade gap. He also said trillions of dollars in announced investment were supporting factories, jobs and domestic production. His “Golden Age” framing came as the U.S. prepared to mark its 250th Independence Day.
The US Stock market rally also reflected optimism around earnings and economic growth. Technology and semiconductor shares helped drive the second-quarter advance. Still, the rally has carried valuation concerns, especially as artificial intelligence spending shapes investor expectations across Wall Street.
US Stock Market Rally Links Rates, Crypto and Policy Risk The US Stock market rally received another lift after softer jobs data reduced near-term rate fears. According to reports, the U.S. economy added 57,000 jobs in June, below the 110,000 estimate. Rate-hike expectations for September then fell to 55% from 64.1%, according to CME FedWatch.
That shift also supported the crypto market. Lower borrowing costs usually help risk assets, as traders seek higher-return areas when liquidity expectations improve. Bitcoin’s rebound near $62,000 showed how quickly macro signals can spill into digital assets after a sharp selloff.
A reported 76% correlation between Bitcoin and gold has also kept the hedge debate active. Some investors view both assets as protection against policy uncertainty and inflation risk. Yet Bitcoin still trades with higher volatility than gold, making the comparison useful but limited.
Policy is another driver. Congress is still debating digital asset rules through the CLARITY Act, while institutional crypto adoption expands. The Trump administration has also signaled a friendlier regulatory stance toward the sector. For traders, the next tests include Fed decisions, tariff talks and earnings from AI-linked companies.
The income generated by cryptocurrencies continues to fuel political debates in the United States. After the publication of information reporting gains exceeding $1.4 billion from activities related to digital assets, Trump finds himself once again at the center of discussions. This time, Democratic Senator Kirsten Gillibrand proposes to ban politicians and their spouses from issuing or promoting memecoins. This initiative revives the debate on conflicts of interest, digital asset regulation, and the ethical rules applicable to American elected officials.
In brief Kirsten Gillibrand proposes to ban elected officials and their spouses from issuing or promoting memecoins. Donald Trump reportedly earned over $1.2 billion through his cryptocurrency activities last year. The senator believes this reform is necessary to limit conflicts of interest and strengthen ethical rules. The debate could influence discussions around the Clarity Act and future cryptocurrency regulations in the United States. Trump at the Heart of a New Bill Proposal New financial disclosures have prompted New York Senator Kirsten Gillibrand to renew her call for stricter oversight. According to information published this week, Trump reportedly generated over $1.4 billion from his cryptocurrency activities in the past year. This situation, according to the elected official, reinforces the need to review the rules governing politicians.
This is a common-sense requirement that should garner broad bipartisan support: elected officials and their spouses should not issue memecoins. We cannot allow conflicts of interest to compromise efforts to strengthen consumer protection, combat illicit finance, and expand economic opportunities for the millions of Americans left behind by our financial system.
Kirsten Gillibrand, Democratic Senator. Source: Senator’s press release. The proposal aims to prohibit elected officials and their spouses from issuing or promoting digital assets, including memecoins. In this context, Trump and First Lady Melania Trump are directly concerned. The president is said to have earned more than $635 million through his memecoin developed on the Solana blockchain. For Kirsten Gillibrand, this measure is a matter of common sense likely to receive bipartisan support.
Kirsten Gillibrand Highlights Ethical Issues Beyond Trump’s case, the senator asserts her aim to strengthen the ethical rules applicable to public officials. She believes conflicts of interest risk undermining efforts to protect consumers, combat illicit finance, and promote better access to financial services. Her goal is therefore to prevent elected officials from profiting financially from their positions.
Kirsten Gillibrand occupies a particular place in the cryptocurrency debate. Although she is among the most pro-sector Democratic senators, she also supports a stricter ethical framework.
Earlier this year, she participated in a bipartisan initiative aimed at preventing Congress members from betting on prediction markets. She also advocated for a ban on stock trading for officials during their term. According to her, Trump, Congress members, and their spouses should not be able to financially benefit from their positions.
Memecoins Also Fuel the Crypto Regulation Debate Ethical issues have also influenced discussions around the Clarity Act, the bill dedicated to the cryptocurrency market structure. In May, a senator indicated that “the bill could not move forward without adding provisions concerning President Trump’s activities.” This request aimed to include specific rules governing public officials’ financial interests.
Ultimately, when the bill passed a key stage in the Senate, no compromise had been reached on these ethical provisions. Despite this lack of agreement, discussions about Trump and memecoins continue to play an important role in the negotiations.
Meanwhile, Galaxy researchers now estimate that the chances of the Clarity Act being adopted this year are close to 50%. According to their analysis, the main obstacle remains the legislative timetable rather than a lack of political will. Debates around Trump may thus continue to accompany the evolution of cryptocurrency regulatory frameworks in the coming months.
The upcoming discussions in Congress will measure whether Kirsten Gillibrand’s proposals will find sufficient support. Meanwhile, the debate around Trump, memecoins, and ethical rules could continue to influence the development of crypto regulation in the United States, as several legislative texts are still under discussion.
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Ghiles A.
Journaliste et rédacteur web passionné par l’univers des cryptomonnaies et des technologies Web3. J’y traite les dernières tendances et actualités afin de proposer un contenu de haute qualité à un large public du secteur.
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The views, thoughts, and opinions expressed in this article belong solely to the author, and should not be taken as investment advice. Do your own research before taking any investment decisions.
ONDO remained in the market spotlight on Friday, July 3, as its price hovered near a crucial breakout level, trading at $0.3334. The token saw a modest 0.49 percent increase over the last 24 hours, while its daily trading volume plunged by 35.5 percent to $55.02 million. Over the past week, ONDO’s price has gained a total of 4.72 percent, maintaining a steady upward momentum that continues to draw attention from both analysts and investors.
Breakout zone drives short term sentimentAccording to analyst Cryptorphic, ONDO recently overcame a major resistance area and has been trying to maintain its position above this level. The analyst notes that the sideways movement following a sharp rally is typical in the short term, prompting market participants to closely watch whether buyers can successfully defend the former resistance zone.
Cryptorphic expects the $0.321 to $0.323 range—the previous breakout area—to be retested. If buyers manage to hold this zone, it could serve as a short term entry point for active traders. The current price movement near the recent support band reinforces the relevance of this scenario.
Cryptorphic highlights that ONDO has left behind a key resistance level, and the price is now entering a healthy consolidation phase above this area.
Potential upside targets have been set at $0.340, $0.350, and $0.363 in the near term. The short term risk threshold is identified as any move below $0.316, underlining the continuing importance of the breakout zone in ONDO’s current trading setup.
Support and resistance levels draw focusData from CoinLore indicates that the primary short term support lies at $0.3104. Meanwhile, the nearest resistance is found at $0.3764. If the breakout area fails to hold, $0.3104 is expected to act as the first line of defense on the downside.
Should ONDO break above $0.3764, the next resistance barriers sit much higher at $0.4620 and $0.5829. Conversely, losing support at $0.3104 could send the price towards $0.2089, a more substantial downside cushion. Together, these markers outline clear boundaries that traders are watching closely on ONDO’s chart.
Divergence emerges in derivatives dataAccording to CoinGlass, ONDO’s futures volume dropped by 31.65 percent to $138.14 million. In contrast, open interest—reflecting the total value of outstanding contracts—increased by 7.50 percent, reaching $151.28 million. The open interest weighted funding rate stands at 0.0044 percent.
For context, open interest refers to the aggregate number of active but unsettled derivatives contracts. The funding rate measures the periodic payments exchanged between long and short futures positions to maintain price stability in perpetual contracts.
This mixed picture suggests that, while trading volume is declining, market positioning is actually rising. Although the immediate direction remains uncertain, ONDO’s price movements appear to be converging toward key inflection points.
Technical indicators signal a tight trading rangeTradingView data shows ONDO trading close to its short term moving average cluster. As of this update, the 20 day exponential moving average is at $0.3317, the 50 day at $0.3404, the 100 day at $0.3382, and the 200 day at $0.3833. The fact that the price remains under its 200 day moving average points to a cautious outlook in the longer term.
Bollinger Bands analysis puts the midline at $0.3346, the upper band at $0.3791, and the lower band at $0.2900. Trading near the midline indicates ONDO is stuck within its recent daily range, making the $0.321 to $0.323 zone the most closely watched area for short term moves.
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.
Hyperliquid (HYPE) price is hovering near $69. The bullish crossover reflects increasing buying pressure. Zooming in on the altcoin market, Hyperliquid (HYPE) attempts to trade on the upside, breaking bearish chains. If the bulls turned stronger, they would dictate their further trajectory. The charts exhibit the short-term fading of bearish momentum.
Also, the technical setup is flipping positive, as the asset hovers within the green zone. The bullish price structure confirms that buyers are dominating the broader market trend of HYPE.
Moreover, Hyperliquid is currently trading near the $69.25, with a 6.34% gain in value over the last 24 hours, according to CoinMarketCap data. The price is holding above the daily low noted at $65.00, and below the daily high of $69.30.
The trading pattern of the asset shows that the short-term momentum would find significant resistance at $69.57, followed by a range above $69.90. The bulls would hit a higher level, which decides HYPE’s trajectory. On the other hand, the first support level of Hyperliquid is likely found below $68. A weaker move toward the $68.50 range confirms the bearish dominance, and more downside could trigger losses.
What Does HYPE’s Technical Chart Setup Point To? The four-hour chart shows that the Moving Average Convergence Divergence (MACD) line is above the signal line and both are above the zero line. It indicates that bullish momentum is gaining strength within a positive trend. The bullish crossover reflects increasing buying pressure.
This setup supports continued upward price movement, provided buying interest remains strong and momentum is sustained.
In addition, the daily Relative Strength Index is resting at around 67.92, which hints at strong bullish momentum. The value is approaching the 70 range, the overbought zone, showing that buyers are firmly in control.
While the trend still favours further gains, the market is beginning to near an area where buying momentum could slow and profit-taking may emerge. This reading supports continued bullish price action, but traders should also watch for signs of momentum cooling if the RSI moves above 70.
Crypto Market Highlights
Bearish Clouds Gather as $2.13B in Bitcoin and Ethereum Options Expire
Content Writer | Crypto Enthusiast | Bridging Literature and Blockchain
Since October 2025, Bitcoin [BTC] and most of the altcoins have been trending downward. Many alts, even prominent ones, never really got a long-term uptrend going. The price gains in the past couple of days for BTC and other tokens were only a bounce within a downtrend.
Hyperliquid [HYPE] was one of the large-cap tokens whose long-term trend was firmly bullish.
Source: HYPE/USDT on TradingView As the 1-week chart above highlights, the swing structure has been bullish for more than a year. It was trading at $70.11, and was up 7.51% in the past week and over 74% up in a year.
This cemented the long-term bullish trend, but the RSI was forming lower highs in recent weeks while HYPE bulls tried to push prices to new highs. Hence, a weekly session move beyond $72.1 would present a bearish divergence, though it doesn’t guarantee an immediate correction.
Here’s what traders and investors can expect from Hyperliquid token’s price action.
HYPE price prediction for July Source: HYPE/USDT on TradingView Over the past month of trading, the DEX token has formed a range [purple] between $53.35 and $74.78. At the time of writing, the price was above the mid-range resistance at $64.1 and also the short-term resistance zone at $67.2.
This upward push came despite some profit-taking by whales. The selling was being absorbed by the demand in the market.
Combined with the recent bullish momentum for Bitcoin, it appeared likely that HYPE can continue higher toward $75.
The OBV was climbing steadily, and the RSI remained above neutral 50. Together, they signaled steady buying pressure and intact bullish momentum.
Traders’ call to action- Wait Source: HYPE/USDT on TradingView The range formation needs to be cleared for the next decisive higher timeframe move. Within this range, a test of either extreme can offer swing traders an opportunity to enter.
Right now, this opportunity was not at hand. The risk-to-reward was not ideal for swing traders at the time of writing.
The technical indicators favored short-term upside. Therefore, a move toward the $75 supply zone and a bearish reaction from there can be used to sell the token, targeting the mid-range and range-low support levels.
Final Summary Hyperliquid was one of the only large-cap crypto assets that maintained a long-term bullish trend. The $75 supply zone was vital for swing traders. A breakout past, or a rejection from, this area would be a signal for traders to place directional bets.
Why Are Bitcoin Exchange Deposits Raising Concern? Bitcoin deposits to exchanges have surged to levels seen only a handful of times this year, a pattern that has historically preceded sharper volatility and larger directional moves across the crypto market, according to CryptoQuant.
Daily bitcoin deposits climbed to nearly 49,000 BTC on June 30, close to the 50,000 BTC threshold that has appeared only 4 other times this year. Julio Moreno, head of research at CryptoQuant, described the move as a “rare extreme” and said similar spikes have previously been followed by stronger price swings.
“At these inflow levels, the market is absorbing a large volume of bitcoin being repositioned to exchanges, a pattern that has historically preceded significant directional moves,” Moreno wrote.
The concern is not only the size of the inflow. Exchange deposits often rise when holders are preparing to sell, adjust collateral, rebalance positions, or move assets into more liquid trading venues. When the increase is large and sudden, it can change market depth and make price action more sensitive to order flow.
Are Whales Driving the Latest Move? The latest increase appears to be driven mainly by large holders rather than retail investors. Moreno said the average bitcoin deposit to exchanges doubled from about 1 BTC to 2 BTC, pointing to larger transfers by whales and institutional investors.
That detail matters because average deposit size can carry a different market message than total deposits alone. High deposit volumes may reflect broad activity across many participants. A jump in average deposit size suggests larger holders are moving more bitcoin at once, which can create heavier selling pressure if those coins are placed into active exchange liquidity.
Moreno said spikes in average deposit size have historically been a more bearish signal than deposit volume alone because they reflect “deliberate repositioning” by larger market participants. He added that such moves have been a reliable leading indicator of downward price pressure.
The spike also comes as bitcoin tests the $60,000 support area. Moreno said a break below that level could put bitcoin on course toward its realized price near $53,000. Bitcoin was recently trading around $62,180, while U.S. spot bitcoin ETFs recorded $221.7 million in net inflows on Thursday, ending a 10-day outflow streak, according to SoSoValue data.
Investor Takeaway The exchange inflow data does not confirm that a sell-off has started, but it shows that larger holders are moving bitcoin into venues where selling, hedging, or repositioning becomes easier. That raises the risk of wider price swings while bitcoin remains close to key support.
Why Are Ether And Altcoin Deposits Also Important? The pattern is not limited to bitcoin. Ether deposits to exchanges climbed above 1.25 million ETH in late June, a level Moreno said is consistent with elevated selling pressure.
Simultaneous increases in bitcoin and ether deposits are more important than isolated weakness in one asset. When both major crypto assets see exchange inflows rise at the same time, the signal points to a broader risk-off move rather than a single-asset adjustment.
Altcoin deposits have also increased sharply. The number of altcoin deposit transactions reached nearly 45,000 earlier this week, the highest level in almost 2 months. Moreno described the move as “a historical inflection-point signal for prices.”
For altcoins, exchange deposit spikes can be especially sensitive because liquidity is often thinner than in bitcoin or ether markets. A rise in deposits can quickly translate into sharper price moves if holders decide to sell into weaker order books.
What Does This Mean For Market Direction? The current setup resembles an earlier pattern that preceded a broad crypto decline. Moreno said a similar spike in altcoin deposits occurred before bitcoin fell from about $82,000 in early May to below $58,000 in late June.
“With the threshold being breached again while bitcoin tests $60,000 support, the current configuration closely mirrors the pattern that preceded the prior leg down, warranting heightened caution from market participants,” Moreno said.
The immediate market risk is a volatility break rather than a guaranteed move lower. Exchange inflows show that assets are being moved into tradable venues, but they do not reveal whether holders will sell immediately, hedge exposure, provide liquidity, or prepare for other transactions.
Still, the mix of higher bitcoin deposits, larger average transfer sizes, rising ether inflows, and stronger altcoin exchange activity creates a more fragile market structure. If bitcoin fails to hold the $60,000 area, the same inflow pressure could deepen momentum toward lower realized-price levels.
Investor Takeaway CryptoQuant’s data points to a market entering a higher-risk phase. The clearest issue is not just that more coins are moving to exchanges, but that larger holders appear to be behind the move while bitcoin trades near a major support level.
Bitcoin’s realized profit and loss ratio has fallen to a 43-month low of -0.35, a figure that signals extreme market-wide loss conditions but has historically coincided with market bottoms, blockchain analytics platform CryptoQuant said.
The Bitcoin realized P&L ratio — which measures the net percentage of Bitcoin (BTC) in profit or loss relative to total supply — hasn’t fallen this low since December 2022, shortly after FTX shockingly collapsed and sent Bitcoin below $16,000.
“Historically the indicator has marked BTC bottoms with extreme precision,” CryptoQuant said on Thursday. In 2015 and 2019, the Bitcoin realized P&L ratio also fell below -0.35 before price rallies followed.
Change in Bitcoin’s P/L ratio since 2012. The data was taken when Bitcoin was trading at $59,000. Source: CryptoQuant
The data could lift market sentiment, which has repeatedly fallen to near-record lows during the course of Bitcoin’s latest 50% drawdown from $126,080, set in October. Market sentiment has risen cautiously over the last 10 days, with Bitcoin up more than 7% since tanking to a near two-year low of $58,190 on June 25.
Many analysts blamed that drop on Strategy — the largest corporate Bitcoin holder — after its top perpetual preferred stock offering, Stretch (STRC), broke from its $100 par value to below $75, raising fears that its dividend model was unsustainable.
On Thursday, Bitwise chief investment officer Matt Hougan said the STRC incident squeezed out excess leverage and likely moved the market one step closer to a bottom.
“As the market continues to sort things out, I’m convinced the bottom is closer than ever — and that we will enter a new bull market in the fall.”Don’t wait for the bottom, analyst saysSwan Bitcoin analyst Adam Livingston noted that Bitcoin is currently trading only 16% above the realized price — the network's aggregate on-chain cost basis — a level that has historically coincided with strong forward returns of 41% at six months and 81% at 12 months.
Livingston acknowledged that buying Bitcoin right now “feels awful,” but that’s precisely why it’s trading at a discount, he argued.
“Waiting for ‘the bottom’ is a wonderful plan with one flaw. The bottom never announces itself,” Livingston said, recommending investors buy now rather than overpay at the top.
Magazine: Bitcoin slides to $58K, XRP hits $1 but onchain data promising: Market Moves
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Bitcoin’s realized profit and loss ratio among short-term holders has cratered to its lowest level in 43 months, a reading that historically precedes major recoveries. With BTC trading between $57,000 and $62,000, more than 50% below its October 2025 peak above $126,000, the pain is real.
Bitwise chief investment officer Matt Hougan said on July 2 that the bottom is “closer than ever,” while Swan Bitcoin analysts pointed to on-chain data showing roughly 47% of Bitcoin’s supply is currently in profit. That figure matches readings observed at prior cycle bottoms, the kind of capitulation moments that, in hindsight, look like gift-wrapped entry points.
The numbers behind the capitulation The Spent Output Profit Ratio, or SOPR, tells a similar story. When SOPR drops below 1.0, it signals that the average coin being spent is being sold at a loss. Historically, sustained sub-1.0 readings have coincided with market floors in Bitcoin’s major cycles.
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Only 47% of Bitcoin’s total supply sitting in profit is a stark number. The current reading puts the market in the same neighborhood as the bottoms of 2012, 2014, 2019, and 2022. Every single one of those periods was followed by substantial rallies.
Record ETF outflows add fuel to the fear June 2026 was a brutal month for Bitcoin ETFs. Approximately $4.5 billion flowed out of spot Bitcoin ETF products, marking the worst monthly outflow on record. The outflows were driven by hawkish interest rate signals from central banks, substantial liquidation pressures cascading through leveraged positions, and the broader macro backdrop giving institutional allocators reasons to de-risk.
Strategy, the corporate Bitcoin holder formerly known as MicroStrategy, added its own layer of volatility. Matt Hougan specifically pointed to turbulence around STRC shares as a contributing factor, framing it as a “natural deleveraging” process rather than a structural breakdown. In his view, that deleveraging is a necessary cleansing that could set the stage for a new bull market by fall 2026.
Why analysts are calling this a buy Swan Bitcoin’s analysis centers on a pattern that has repeated across Bitcoin’s history. When the percentage of supply in profit drops to the mid-to-low 40s, the market has historically been within striking distance of a bottom.
Hougan’s prediction of a new bull market beginning in fall 2026 is specific enough to be testable. If he’s right, investors buying at current levels between $57,000 and $62,000 could be entering at a significant discount to where Bitcoin trades six to twelve months from now. Swan Bitcoin’s message was even more direct: buy now at a discount rather than overpay later.
What investors should watch from here ETF flow data will be a leading indicator. A reversal from outflows to inflows would signal that institutional sentiment is shifting.
On-chain metrics like SOPR and the percentage of supply in profit should be monitored for stabilization. If these readings hold at current levels without further deterioration, it strengthens the case that capitulation is complete. If they continue declining, it suggests more pain ahead.
Disclosure: This article was edited by Editorial Team. For more information on how we create and review content, see our Editorial Policy.
Bitcoin (BTC) rallied, $50 short of $63,000, on July 3, and Ether (ETH) outperformed the wider market, pushing to $1,775. The end-of-week rally comes a few days after BTC fell to a 21-month low and ETH sank to fresh year-to-date lows. Highlighting the negative sentiment, the Crypto Fear & Greed index registered “Extreme Fear” at 11 out of 100.
Crypto Fear & Greed Index. Source: Alternative.me
That gap between the “Extreme Fear” reading and Friday’s bullish market activity is worth noting. On July 2, US spot Bitcoin exchange-traded funds (ETFs) took in a net $221.7 million, their largest single-day inflow since early May and a break from 10 consecutive days of outflows.
Spot Bitcoin ETF netflows. Source: SoSoValue.com
Futures markets fuel Bitcoin and Ether gainsThe leverage side of the crypto market looks more one-sided than the spot buying data alone would suggest. “Funding,” the periodic payment traders holding bets on higher prices make to traders betting on lower prices when the market leans bullish, has stayed positive for the past eight days and has been climbing throughout this period.
Bitcoin open interest, funding rate. Source: Hyblock
The total amount of outstanding leveraged Bitcoin positions is also near its highest level in the past several days, even though the price has mostly moved sideways. Leverage building up without price making much progress is generally viewed as a caution sign rather than confirmation that a rally is underway.
Can bulls keep their pace? Looking at the next few trading sessions, a few reference points stand out. On the cautious side, whether Bitcoin holds above roughly $61,000, where a large cluster of leveraged buy positions sits, matters, and so does whether Wednesday’s ETF inflow turns out to be a one-day event or the start of a new trend.
On the more encouraging side, a move back above $62,500 would put Bitcoin within reach of price levels where leveraged short positions become more exposed, and continued positive buying activity alongside a still-growing pool of leveraged positions would extend the pattern seen over the past few days.
The overall market read is mixed rather than clearly bullish or bearish. Spot buying and a rebound in ETF flows suggest sentiment may be improving faster than the fear-and-greed number implies, but a market this deeply fearful and this leveraged toward higher prices tends to be more fragile. The upcoming US holiday-weekend stretch of typically thinner trading adds another layer of uncertainty to the current setup.
This article is produced in accordance with Cointelegraph's Editorial Policy and is intended for informational purposes only. It does not constitute investment advice or recommendations. All investments and trades carry risk; readers are encouraged to conduct independent research.
Bitcoin has edged slightly higher after touching lows near $58,500, but one of the most accurate forecasters of this cycle is not convinced the worst is over. Markus Thielen, Founder and CEO of 10x Research, said this week that the modest recovery is unlikely to hold and that Bitcoin could fall as low as $46,000 to $47,000 before finding its genuine cycle low.
The rest of the article remains unchanged from the previous version, with Thielen’s analysis of ETF outflows, the absence of meaningful buyers, the Elliott Wave targets, the Fed outlook and his comparisons to the 2022 to 2023 cycle all standing as written.
No Real Buyer Anywhere in Sight
Thielen’s bearish near-term view centres on a simple observation: the market has lost its primary source of demand. Strategy, formerly MicroStrategy, was the single largest buyer of Bitcoin year to date, deploying approximately $13 billion in acquisitions. That buying has slowed significantly. Meanwhile, U.S. spot Bitcoin ETFs have bled approximately $7 billion in net outflows since mid-May, when the first hot inflation report shifted the macro environment against risk assets.
“There’s no real buyer in the market right now,” Thielen said. “That’s why we’re still in this liquidation period from the ETFs.”
He also noted that the average ETF buyer is now significantly underwater, with many of those holders beginning to cut losses around the $60,000 level, adding further selling pressure precisely where the market needs support.
The Path to $46,000 and Back
Thielen’s Elliott Wave analysis maps out a clear structure. Bitcoin completed a five-wave advance from late 2022 into the 2025 high, and the current decline represents the corrective phase. Wave A brought Bitcoin down to approximately $63,000 in February. Wave B produced the counter-trend rally to $82,000 to $83,000. Wave C, the current decline, targets the $46,000 to $47,000 range.
Once that level is reached, Thielen expects a recovery rally of approximately 30% back toward $60,000 to $65,000 by year-end, driven by a shift in Federal Reserve posture as inflation cools and oil prices retreat following the resolution of geopolitical tensions.
The Fed Is the Key Variable
The macro vice gripping Bitcoin tightened significantly when Kevin Warsh was nominated as Fed Chair in late January. Every inflation reading since has reinforced the hawkish case, and markets are now pricing a 70% probability of at least one rate hike before year-end. Until that expectation reverses, Thielen argues, Bitcoin lacks the macro catalyst needed for a sustained move higher.
He draws a direct parallel to 2022 and 2023, where Bitcoin spent months trading sideways between $16,000 and $30,000 before the Grayscale SEC victory in August 2023 finally shifted sentiment. The lesson from that cycle is that bottoms form slowly and sentiment does not turn bullish until well after the low is already in.
When Does the Bottom Form
Thielen’s base case points to a low forming sometime in Q4 2026, possibly around October, consistent with historical bear market timing patterns that suggest cycles typically bottom approximately 360 to 380 days from their peak. He plans to be a buyer below $50,000 and expects Bitcoin to be materially higher by 2027.
Story Ends Here
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Bitcoin’s realized profit and loss ratio has fallen to a 43-month low of -0.35, a figure that signals extreme market-wide loss conditions but has historically coincided with market bottoms, blockchain analytics platform CryptoQuant said.
The Bitcoin realized P&L ratio — which measures the net percentage of Bitcoin (BTC) in profit or loss relative to total supply — hasn’t fallen this low since December 2022, shortly after FTX shockingly collapsed and sent Bitcoin below $16,000.
“Historically the indicator has marked BTC bottoms with extreme precision,” CryptoQuant said on Thursday. In 2015 and 2019, the Bitcoin realized P&L ratio also fell below -0.35 before price rallies followed.
Change in Bitcoin’s P/L ratio since 2012. The data was taken when Bitcoin was trading at $59,000. Source: CryptoQuant
The data could lift market sentiment, which has repeatedly fallen to near-record lows during the course of Bitcoin’s latest 50% drawdown from $126,080, set in October. Market sentiment has risen cautiously over the last 10 days, with Bitcoin up more than 7% since tanking to a near two-year low of $58,190 on June 25.
Many analysts blamed that drop on Strategy — the largest corporate Bitcoin holder — after its top perpetual preferred stock offering, Stretch (STRC), broke from its $100 par value to below $75, raising fears that its dividend model was unsustainable.
On Thursday, Bitwise chief investment officer Matt Hougan said the STRC incident squeezed out excess leverage and likely moved the market one step closer to a bottom.
“As the market continues to sort things out, I’m convinced the bottom is closer than ever — and that we will enter a new bull market in the fall.”Don’t wait for the bottom, analyst saysSwan Bitcoin analyst Adam Livingston noted that Bitcoin is currently trading only 16% above the realized price — the network's aggregate on-chain cost basis — a level that has historically coincided with strong forward returns of 41% at six months and 81% at 12 months.
Livingston acknowledged that buying Bitcoin right now “feels awful,” but that’s precisely why it’s trading at a discount, he argued.
“Waiting for ‘the bottom’ is a wonderful plan with one flaw. The bottom never announces itself,” Livingston said, recommending investors buy now rather than overpay at the top.
Magazine: Bitcoin slides to $58K, XRP hits $1 but onchain data promising: Market Moves
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Bitcoin (BTC) rebounded after weaker-than-expected US labor market data eased expectations for tighter monetary policy.
In a report on Friday, crypto asset manager CoinShares stated that the recovery does not yet signal the start of a sustained uptrend, as restrictive Federal Reserve (Fed) policy and lingering market headwinds weigh on sentiment.
Weaker jobs data eases pressure as Bitcoin climbs over $62KCoinShares shared that the June nonfarm payrolls rose by 57,000, well below the consensus forecast of 115,000. The data pushed the two-year US Treasury yield lower and prompted markets to scale back expectations of a near-term rate hike, helping Bitcoin rebound from its recent cycle low near $57,000.
“Today's print helps at the margin; it does not amount to a policy pivot,” the report stated.
CoinShares noted that the market's reaction underscored Bitcoin's sensitivity to changes in interest-rate expectations. However, the firm argued that while macroeconomic conditions remain challenging, unwinding among larger investors has calmed.
“Beneath the surface, the picture looks better than sentiment suggests. Whale distribution appears to have run its course,” CoinShares added.
The report highlighted that wallets holding more than 100,000 BTC distributed approximately $39 billion worth of Bitcoin following the October 2025 market peak, but that selling pressure has now largely subsided.
“That selling has since slowed to a stop, removing the dominant overhang that defined 2025,” CoinShares wrote.
The firm further noted that Bitcoin ETPs have recorded roughly $2.7 billion in net outflows this year. On the other hand, artificial intelligence-focused exchange-traded funds (ETFs) attracted about $5.5 billion over the same period.
The divergence suggests that investors shifted capital toward one of the market's strongest-performing themes instead of abandoning Bitcoin altogether.
CoinShares also cautioned that several risks continue to cloud the outlook, including the absence of easier monetary policy, continued supply overhang linked to Strategy, geopolitical uncertainty surrounding Iran and slowing momentum for US crypto legislation.
Options positioning points to continued uncertaintyGlassnode analysts echoed the cautious tone, highlighting consistent defensive positioning in the options market even as Bitcoin rebounds from around $58,000.
“Options markets are repricing risk, volatility and the probabilities investors assign to the next major move,” Glassnode wrote in an X post.
The firm stated that implied volatility, as measured by the DVOL index, has been trending higher, reflecting growing uncertainty as Bitcoin's recent sell-off unfolded. However, volatility remains well below levels seen during previous major market disruptions, indicating that traders are repricing risk.
Glassnode added that options markets continue to favor downside protection, with one-week 25 Delta Skew remaining positive as put options trade at a premium to calls. Bitcoin has also remained in negative gamma territory, meaning dealer hedging activity could amplify price swings in either direction.
The current options market suggests investors remain vigilant and expect uncertainty to persist despite Bitcoin's recent rebound, Glassnode analysts noted.
BTC is trading at $62,450, up 1.5% over the past 24 hours at the time of writing.
For a while now, Michael Saylor’s Strategy has been on a wild ride of criticism. Now, major players like JPMorgan are beginning to issue some warnings. In fact, the banking giant recently called out Strategy’s Bitcoin sales policy.
For context, Strategy has long relied on a straightforward business model: Raise capital through debt and equity offerings, then use that money to purchase additional Bitcoin [BTC].
As a result, a sizeable amount of the circulating supply was essentially locked away rather than actively traded due to its enormous treasury of 847,363 BTC. However, the company’s most recent capital structure is now altering that dynamic.
Strategy’s new game plan raises red flags To pay dividends on its preferred stock or other financial commitments, Strategy has now formally permitted itself to sell a limited quantity of Bitcoin. At the same time, it authorized preferred stock repurchases and launched a $1 billion common stock buyback program.
Even though the company’s cash reserves of about $2.55 billion cover about 17 months’ worth of preferred dividends and interest costs, JPMorgan thinks this buffer is still insufficient to completely rule out the possibility of future Bitcoin sales.
The team led by Nikolaos Panigirtzoglou argued,
A higher coverage of 24-36 months would be needed (by issuing common equity to further increase dollar reserves even if this leads to the common equity trading at a discount to NAV) to make investors more comfortable with the idea that Strategy would not need to sell bitcoins in the foreseeable future.
What is the underlying issue? The primary issue is the rise of what JPMorgan refers to as “two-way risk.”
In the past, Strategy operated virtually solely as a Bitcoin buyer, continuously consuming supply whenever it raised new funds. However, under the new framework, the business can switch between buying and selling based on how much cash it needs.
The fact that Strategy is no longer assured of removing Bitcoin from the market—it might even turn into a source of supply when money is needed—introduces uncertainty.
What’s ahead? In fact, in one of the few times the company has sold Bitcoin for operational rather than portfolio adjustments. Even though the $1.25 billion authorized sale capacity only makes up a small portion of its total holdings, the psychological impact could be far greater than the volume of sales.
Unfortunately, these shifts occur at a time when the U.S. Spot Bitcoin ETFs are facing net withdrawals, and the price of Bitcoin is also struggling.
Henceforth, the only hope at this point is the approval of the CLARITY Act. It has the potential to restore market integrity and the price of Bitcoin, in turn improving the air surrounding Strategy.
Final Summary Instead of an actual warning, JP Morgan has suggested a higher coverage of 24-36 months for Strategy. Though the recent sell-off by Strategy was minimal, it has still induced fear and uncertainty in the market.
Bitcoin ETF outflows are worse than many investors realise, and the selling pressure shows no sign of slowing down, according to Bloomberg Intelligence ETF analyst James Seyffart.
The Outflow Picture Is Deteriorating
Speaking on the Milk Road Show, Seyffart said net inflows into Bitcoin ETFs have now fallen to just over $51 billion from a peak of $63 billion, meaning more than $11 billion has left these products from their high point. The selloff has pushed flows below February lows, making this the worst sustained outflow period since the ETFs launched.
The pace is accelerating rather than easing. On 25 June alone, $700 million exited in a single day, followed by $445 million the next day, then $232 million, and $223 million the day after. “It’s not slowing down,” Seyffart said. “If anything it’s kind of accelerating.”
Why the Selling Is Happening
Seyffart said there is no single explanation. The basis trade, which once supported institutional inflows, has largely unwound. Concerns about Strategy and whether Michael Saylor might be forced to unwind Bitcoin positions are weighing on sentiment. And perhaps most significantly, capital and attention are rotating toward other areas.
“There are way more interesting things happening in the market right now,” Seyffart said, pointing to AI and the space sector as competing draws on both capital and investor attention.
Covered Call ETFs and the Spaghetti Cannon
Despite the outflows, new Bitcoin ETP products keep launching. Goldman Sachs and BlackRock have both introduced covered call Bitcoin income ETFs, designed to give investors toned-down, yield-generating exposure to the asset. Seyffart said client demand for lower-volatility Bitcoin access is real, though he personally sees the trade-off of capping upside on a high-volatility asset as questionable.
He described the broader ETP product wave as a “spaghetti cannon,” with one new issuer launching 50 ETFs in a single week. The bright spots, he said, are newer and smaller products including Solana, XRP, and Hyperliquid ETFs, which launched during the bear market and have held up better than the established Bitcoin and Ethereum funds.
Story Ends Here
Trust with CoinPedia:CoinPedia has been delivering accurate and timely cryptocurrency and blockchain updates since 2017. All content is created by our expert panel of analysts and journalists, following strict Editorial Guidelines based on E-E-A-T (Experience, Expertise, Authoritativeness, Trustworthiness). Every article is fact-checked against reputable sources to ensure accuracy, transparency, and reliability. Our review policy guarantees unbiased evaluations when recommending exchanges, platforms, or tools. We strive to provide timely updates about everything crypto & blockchain, right from startups to industry majors.
Investment Disclaimer:All opinions and insights shared represent the author's own views on current market conditions. Please do your own research before making investment decisions. Neither the writer nor the publication assumes responsibility for your financial choices.
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Here's what needs to unfold for BTC to break above $65,000.
After several weeks of lackluster performance and a slide to its lowest level since 2024, Bitcoin (BTC) has finally staged a decisive comeback.
The popular analyst Ali Martinez highlighted the resurgence and spotted three bullish factors that could push the price beyond $65,000 in the short term.
The Winning Formula The primary cryptocurrency recently surged past $62,500, fueled by geopolitical de-escalation in the Middle East and a long-awaited return of ETF inflows after several weeks dominated by outflows.
The analyst noted that BTC’s 12-hour chart has flashed a cluster of bullish technical cues across several key metrics, suggesting additional upside may be on the horizon. He first pointed out the Tom DeMark Sequential indicator, which has printed a buy signal.
Earlier this week, the analyst emphasized that this metric (when viewed on the monthly timeframe) triggered a synchronized bullish call across BTC, ETH, XRP, and SOL.
“Historically, when multiple assets lock in concurrent monthly buy signals, it indicates seller fatigue and a high probability of a long-term market bottom,” he explained.
The second positive sign Martinez touched on is BTC’s Relative Strength Index (RSI), which has printed a bullish divergence against the underlying price action, while the third is the SuperTrend indicator, which signaled a trend shift.
“If these combined indicators receive validation through sustained spot volume, the immediate target for BTC sits at $65,400 – aligning with the TD setup resistance trendline,” he concluded.
Other Optimistic Voices Numerous market observers share Martinez’s bullish outlook, noting that the cryptocurrency has performed quite well in the current month. X user cyclop, for instance, noted that BTC has historically posted double-digit gains in July during bear markets.
You may also like: Bitcoin Reclaims $60K as SOL, BCH Lead Alts Higher (Market Watch) Why Bitwise’s Matt Hougan Thinks Strategy’s Bitcoin Era Is Fading Bitcoin (BTC) Starts July Under $60K, Cardano (ADA) Finally Rebounds: Market Watch The recent whale behavior also reinforces the positive scenario. X user Max Crypto revealed the case of a big investor who opened a $66 million long on BTC that will be liquidated if the price dips to $59.395.
Whales are known as experienced investors who rarely jump on the bandwagon, relying purely on their instincts, and their actions could infuse enthusiasm among smaller players, prompting them to allocate fresh capital to the ecosystem.
Of course, one must tread carefully and keep in mind that the crypto market remains shaky, meaning a renewed pullback in the short term is just as plausible.
Bitcoin’s capital efficiency has fallen sharply over successive bull cycles, with each new rally requiring far more inflows to produce smaller percentage gains.This cycle, about $697 billion in new money has generated a roughly 689% gain, compared with earlier cycles where far less capital drove returns of 2,000 percent to more than 50,000 percent.Analysts say another parabolic run would likely require more than $1 trillion in fresh institutional capital, but recent ETF outflows and bitcoin’s larger market size underscore the risk that such flows may never materialize.Bitcoin returns far less for every dollar of new money entering it than it did in its early years, a decline in capital efficiency that has grown sharper as the asset has scaled.
Analytics firm CryptoQuant measured how much fresh capital each bitcoin bull cycle took in against the price gain it produced. In the 2011 cycle, about $2.8 billion in net inflows drove a rally of roughly 55,000%.
The 2015 cycle took about $69 billion for a gain near 10,000%. The 2018 cycle needed about $365 billion for roughly 2,000%. This cycle, running since 2022, has taken in about $697 billion and returned 689%. The figures track realized capitalization, a measure that values each coin at the price it last moved rather than its current price, a rough gauge of how much money has actually gone into the asset.
The trend holds at every scale. In 2011, roughly $5 million in new money was enough to double bitcoin's price. This cycle, doing the same took around $101 billion. Each run has demanded exponentially more capital for a smaller percentage move, the arithmetic of an asset that now carries a market value near $1.2 trillion, per CoinDesk data, rather than the few billion it held a decade ago.
CryptoQuant founder Ki Young Ju, who published the data, called it as a case for patience rather than a top. "Bitcoin needs to be a core macro asset, not just a retail-driven ETF trade," he wrote, arguing that another parabolic run is possible only if bitcoin can absorb more than $1 trillion in fresh capital, which would take institutional adoption well beyond where it sits today.
That view lands at an awkward moment. U.S. spot bitcoin exchange-traded funds have seen record outflows over the past month, and bitcoin closed a losing first half, so the retail flows the thesis wants to move past are running in reverse rather than building the institutional depth it calls for.
The skeptical read is simpler, however. Falling returns per dollar are what happen to any asset as it grows, since a larger base moves less in percentage terms no matter who is buying, and nothing guarantees institutional money arrives at the scale the bullish case needs.
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Building the Zcash Machine: Tachyon and Quantum Readiness
Building the Zcash Machine: Tachyon and Quantum Readiness
Zcash’s Tachyon upgrade aims to scale shielded payments, improve quantum readiness, and test whether its funding, security, and governance can hold.
Jun 30, 2026
Zcash’s Tachyon upgrade aims to scale shielded payments, improve quantum readiness, and test whether its funding, security, and governance can hold.
Why it matters:
Zcash’s Tachyon upgrade aims to scale shielded payments, improve quantum readiness, and test whether its funding, security, and governance can hold.
Barstool Sports founder Dave Portnoy has vowed to hold his Bitcoin investment even if it falls to zero after revealing he is down millions on a position bought near $100,000.
Summary
Dave Portnoy says he will hold Bitcoin even if it falls to zero after losing millions on his investment. Portnoy admits years of mistimed Bitcoin trades convinced him not to sell during the current downturn. Robert Kiyosaki and Bitwise CIO Matt Hougan continue to offer contrasting long-term outlooks for Bitcoin. According to an interview with Fox Business host Stuart Varney, Portnoy admitted that his history with Bitcoin has been defined by buying at the wrong time and selling before major rallies.
Speaking about his latest position, he said he purchased Bitcoin at around $100,000 and acknowledged that the investment is now deeply underwater after the asset lost more than half its value from its October peak of $126,080 to about $62,162.
Bitcoin and crypto are making me sad.
— Dave Portnoy (@stoolpresidente) June 4, 2026 Instead of exiting the position, Portnoy said he plans to continue holding. He told Varney that previous attempts to sell Bitcoin had repeatedly backfired because the cryptocurrency rallied soon afterward. Having experienced that pattern multiple times, he said he would rather keep the asset regardless of how far the price falls.
Portnoy also described himself as someone who has been consistently wrong on Bitcoin trades. Looking back on earlier market cycles, he recalled panic-selling the cryptocurrency during a price decline in 2021 before it recovered sharply, adding that those experiences shaped his decision not to sell this time.
Bitcoin outlook remains divided Even as Portnoy remains committed to holding Bitcoin, market participants continue to disagree over where prices could move next.
Earlier this week, as reported by crypto.news, Rich Dad Poor Dad author Robert Kiyosaki’s prediction that Ethereum could reach $95,000 by mid-2027 resurfaced across crypto social media. Kiyosaki argued that a severe global financial crisis could trigger a major repricing of alternative assets.
Under that scenario, he said Ethereum could climb to $95,000 within a year of such an event, while Bitcoin could rise to $750,000 alongside gold reaching $35,000 per ounce and silver advancing to $200.
A day later, Bitwise Chief Investment Officer Matt Hougan wrote that Bitcoin appeared to be entering the final stage of its correction after the STRC-related unwind reduced excess leverage. At the time, he said he expected a new Bitcoin bull market to begin in the fall.
Although he cautioned that identifying the exact bottom is impossible in real time, he said the latest developments suggest the market could be entering the final stage of the current cycle.
Hougan also argued that the next Bitcoin rally is likely to rely less on retail traders and more on institutional investors, including banks, pension funds, sovereign wealth funds, asset managers, financial advisers, and endowments. Based on that view, he said he expects a new Bitcoin bull market to begin in the fall.
Portnoy’s crypto record extends beyond Bitcoin Beyond Bitcoin, Portnoy has been involved with several high-profile crypto projects over the years. He previously promoted the SafeMoon meme coin and publicly identified himself with the Chainlink community, often referred to as the Link Marines.
His trading activity later expanded into Solana-based meme coins. After revealing his wallet address and facing criticism from some traders who accused him of pumping and dumping tokens, Portnoy publicly embraced JAILSTOOL, a meme coin built around imagery of him behind bars. The token later climbed above a $210 million market capitalization and secured a listing on crypto exchange Kraken. Since then, however, it has lost more than 99.5% of its value and now trades at a market capitalization of just over $1 million.
Gold and Bitcoin are continuing to see investor exits as the ‘debasement trade’ unwinds following slow progress as far as U.S-Iran talks are concerned. In fact, Bloomberg ETF analyst Eric Balchunas noted that the macro hedges are close to ‘becoming roomies’ in terms of capital outflows.
After the gold rush: GLD and GDX hangover getting worse, rough year, and now short interest has spiked 80% and 50% respectively via S3 data. Fast on the way to becoming roomies with bitcoin in the proverbial doghouse.
Source: X GLD tracks long commodity investors (gold) while GDX tracks long equity positions. For gold, the 80% short interest also mirrored Bitcoin [BTC]’s weakness.
Bitcoin follows gold in capital outflows The altcoin extended its decline in 2026 after failing to advance beyond $83K during the Q2 relief bounce. It printed a new yearly low of $57.7K this week before fronting a brief recovery to $62K following a weaker U.S jobs report.
However, for the first time since their debut in 2024, U.S Spot ETFs saw a net outflow of $5.4B in H1 2026, according to DWF Labs.
Source: DWF Labs The CME positioning also painted a similar picture, as shown by the weekly commitments of traders (COT). COT tracks large institutional positions on the CME. In 2026, the COTs metric has been negative, with brief positive values in late March and April.
In other words, institutional players were, on average, shorting BTC in H1 2026 as ETF flows also turned negative.
Source: CryptoQuant Although whales have accelerated BTC accumulation as institutional demand tanked, the bids were still relatively small to offset the pressure.
In fact, the weakness can be expected to persist in Q3 with a final potential BTC market cycle bottom in Q4 2026.
Is macro risk still on the table? In the short term, however, the CME net positioning briefly turned positive. Similarly, U.S Spot ETFs saw net inflows of $221M on Thursday, breaking 10 consecutive days of net outflows. The shift followed the weaker U.S. Jobs report, which eased Fed rate hike fears.
According to QCP Capital analysts, this meant that “spot demand was beginning to firm,” but confirmation will depend on key inflation data scheduled for mid-July.
Broader confirmation of a front-end dovish repricing likely still needs the 14 Jul CPI and 15 Jul PPI prints ahead of the month-end FOMC, but the flip in flows suggests spot demand is beginning to firm.
That said, the short-term upside resistance levels were at $62.3K, the $65K-$67K zone, and $75K (200-day SMA) at press time.
Source: BTC/USDT, TradingView Final Summary BTC and gold have seen record capital outflows and rising short interest in H1 2026. QCP Capital analysts noted that Spot BTC demand had begun to firm up, but confirmation was still needed.
There was a time when a single tweet could move Bitcoin by 10%. When a celebrity endorsement sent token prices through the roof overnight. When "to the moon" counted as an investment thesis for millions of retail crypto investors around the world.
Today, that market has been replaced by more serious, more structural, and more interesting market participants. The next Bitcoin rally will not be driven by narrative. It will be driven by liquidity. And if you don't understand how liquidity moves, you will keep misreading every crypto cycle that follows.
What the Numbers Are Telling UsOver the past eight months, more than $10 billion has moved out of Bitcoin spot ETFs, and that exodus has been a major driver of the downturn we're witnessing. In 2024, inflows into those same ETFs powered Bitcoin to new all-time highs. Institutional capital pulled back, the pillar supporting the rally faded, and retail investors simply did not have the conviction to hold the market up on their own.
Spot ETFs now hold 6-7% of circulating supply, which means every billion dollars of net flow ripples directly into spot prices and through the rest of the crypto market.
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How the Market Grew UpThe 2021 bull run was the last great hype-driven market. Retail FOMO, social media momentum, and speculative excess pushed Bitcoin to its then all-time high. Then came the unravelling of Luna, Celsius, and FTX. Each collapse eroded the casual investor's willingness to act on hype without scrutiny.
At the same time, the market's composition changed underneath it. The SEC's approval of spot Bitcoin ETFs in January 2024 brought institutional capital into the space through regulated vehicles. BlackRock's iShares Bitcoin Trust alone commands approximately $43 billion in assets under management as of June 2026.
These are investors who allocate based on macro conditions, rate environments, and portfolio construction frameworks with a long-term view, the same forces that move equity and bond markets.
Liquidity Is the Variable That Matters NowEmpirical research shows a significant strengthening in the relationship between global M2 money supply growth and Bitcoin price appreciation, with roughly a 90-day lag and correlation coefficients reaching 0.78 during the 2020-2023 period.
Put simply, when global liquidity expands, Bitcoin goes up. When it contracts, Bitcoin comes under pressure. That three-month lag means the direction of global money supply today is a leading indicator of where Bitcoin is headed next quarter, whether you're watching for it or not.
Stronger-than-expected inflation readings and elevated bond yields have complicated the picture for Federal Reserve policy. Persistent energy price pressures and geopolitical instability now have investors worried that rate cuts could be delayed, and that makes for a less supportive environment for risk assets like Bitcoin.
What the On-Chain Data Is Actually SayingHere is where it gets interesting. Beneath the price weakness, the network is telling us a different story altogether. CryptoQuant's Bitcoin Network Activity Index has climbed steadily since January and recently hit its highest level since late 2024. Daily Bitcoin transactions have crossed 800,000, nearing the highs of the previous bull cycle.
Even the selling pressure from ETF redemptions has not triggered a rush of coins onto exchanges for liquidation, which tells you that some of these outflows are internal portfolio rebalancing, not investors walking away from Bitcoin.
What the Next Rally NeedsAny rotation back into growth positioning would likely pull Bitcoin along with it, re-anchoring the asset to the liquidity backdrop. An ETF flow reversal would provide direct support to prices.
Watch for a softening in Fed language, easing inflation data, and a resolution to the geopolitical tensions that have kept oil prices elevated and rate-cut expectations suppressed. Any one of these could meaningfully improve liquidity conditions, and when liquidity returns, Bitcoin has consistently been among the first assets to reflect it.
The next leg of this cycle will not announce itself through celebrity endorsements or viral posts. It will show up quietly, in ETF flow data, in M2 expansion numbers, and in what the bond market is telling us about where rates are headed.
The investors who stand to benefit most from the next Bitcoin rally are the ones watching the Fed, tracking ETF flows, and understanding that Bitcoin's price today is largely a function of how much capital the global financial system is willing to allocate to risk assets.
(The author Prateek Gupta is Head of Business, Mudrex)
(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)
(Disclaimer: The opinions expressed in this column are that of the writer. The facts and opinions expressed here do not reflect the views of www.economictimes.com.)
Ripple [XRP] has caught strong bidding from derivatives traders, CryptoQuant data showed. The aggressive taker buying volume, relative to the aggressive selling, was at the highest level in 2026.
Source: CryptoQuant The taker buy-sell ratio tracks the aggressive (or taker) buying to selling volume in perpetual swap markets. A rising metric denotes increased taker buying activity, which tends to push prices higher.
This influx of demand has contributed to the modest price bounce of 5.35% in the past 24 hours. Dominant buying has even pushed the 7-day moving average of the ratio back above 1.
Source: Glassnode Yet, at the same time, the Coin Days Destroyed metric saw a sizeable spike, the biggest since April. The CDD tracks the volume-weighted age of coins spent in a day. Higher values of CDD imply a high volume of previously-dormant coins were moved, likely for selling.
It can also capture a wave of capitulation in the market. In this context, a spike in CDD alongside a price bounce suggested holders used the XRP price bounce above $1.10 to take profits.
XRP net wallet flows turn negative, hinting at accumulation Source: CryptoQuant Against the backdrop of a short-term price hike and potential selling pressure from a wave of tokens being moved onchain came evidence of accumulation.
Crypto analyst Amr Taha pointed out that the 7-day net depositing/withdrawing wallet count fell to -6,210 on June 30. This negative number indicated a shift from an XRP net depositing environment to a net withdrawal environment.
Wallet activity flip towards withdrawals does not necessarily confirm smart money accumulation. AMBCrypto used the percent of supply held by the top 1% to understand if large holders were accumulating in significant numbers.
Source: Glassnode The data showed that the top holders had been distributing their holdings throughout June, as the percent supply in their control fell from 87.98% to 87.87%. For context, since January, the metric has risen from 87.57% to nearly 88% at its zenith in 2026.
The 1 billion XRP unlock recently reported on raised the question of whether the market can absorb the supply. So far, despite the selling pressure, the $1 psychological support level has not been ceded to the bears.
The onchain data slightly favored the accumulation angle, but market-wide sentiment and Bitcoin price action will also have an impact on XRP trends.
Final Thoughts The XRP price spike recently came alongside a rise in aggressive buying, but also a spike in CDD that warned of sell pressure. The shift from net depositing to net withdrawals from Binance, for the first time since July 2025, was an encouraging sight for investors.
The number of transactions carried out solely by autonomous artificial intelligence agents on the XRP Ledger network is approaching 1 million. This increase, highlighted by t54 data, coincides with a broader market recovery observed in July. The timing of this surge has reinforced expectations about whether XRP’s recent price climb will prove technically sustainable.
AI-driven activity boosts network momentumXRP has gained nearly 3% over the past 24 hours, reaching $1.1194. With this uptick, the price has moved above the midline Bollinger Band at $1.1112 on the daily chart. In the short term, the next key technical level to watch is the upper band at $1.2320.
The recent rebound in XRP’s price has unfolded during a sharp increase in transaction volumes executed by AI agents on the XRP Ledger.
At the core of this technological momentum is the XRPL x402 payment facilitator developed by the t54 team with support from Ripple. Ripple, a US-based fintech company specializing in cross-border payment technologies, plays a central role here. The solution leverages the internet’s native 402 Payment Required code, enabling AI bots to pay one another directly for computing power or data.
Mini glossary: The 402 Payment Required code is a status defined in HTTP standards, historically seldom used. It signals that payment is needed to access digital content or services; XRPL x402 adapts this logic for machine-to-machine payments.
This model eliminates the need for manual wallet management or purchasing complex API keys, automating payment flows. The rise in machine-to-machine payments using native tokens and stablecoins on the XRP Ledger has become a compelling narrative for XRP, especially amid the market’s upward momentum.
Technical outlook focuses on $1.3147 levelThe increase in automated payments is also being watched for its implications on long-term supply dynamics, as a portion of the fee from every on-chain transaction is burned. This mechanism can gradually limit the total amount of circulating assets as network usage intensifies.
On the weekly chart, the midline Bollinger Band at $1.3147 emerges as the main threshold for determining whether the multi-month downtrend has been broken.
Should the recent momentum continue, attention will shift to the $1.3147 middle Bollinger Band on the weekly timeframe for XRP. Surpassing this level would provide a stronger technical indicator that the multi-month decline has ended. In that event, the $1.30 zone could once again become the focal point for buyers.
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.
Noted a $2.13B worth of Bitcoin and Ethereum options expiry. The prices have recovered from the red zone. The cryptocurrency market entered a pivotal session on July 3 as a combined $2.13 billion worth of Bitcoin and Ethereum options reached expiry, offering fresh insight into investor positioning amid a challenging market environment.
Around 31,000 Bitcoin options expired with a notional value of approximately $1.9 billion. The contracts carried a put-call ratio of 0.70 and a maximum pain point of $61,000. Meanwhile, 135,000 Ethereum options, valued at roughly $230 million, expired with a put-call ratio of 1.29 and a maximum pain level of $1,650.
Options Expiry Positioning Reflects Defensive Market Sentiment One of the standout signals from this week’s data is Ethereum’s elevated put-call ratio of 1.29. A ratio above 1 indicates that put options outnumber call options, suggesting that many traders are either hedging against further downside or maintaining a cautious outlook.
At the same time, options expiry positioning remains concentrated near key Gamma Exposure (GEX) levels, with Bitcoin clustered around $60,000 and Ethereum near $1,700.
Although Bitcoin managed to reclaim the psychologically important $60,000 mark during the week, market sentiment remains mixed. Technical analysts continue to debate whether the recent recovery marks the beginning of a sustained rebound within a broader downtrend.
Macro Trends Continue to Shape the Market Beyond options activity, investor attention has increasingly shifted toward traditional financial markets, particularly developments surrounding artificial intelligence and semiconductor stocks.
Within the digital asset industry, tokenised U.S. stocks have also emerged as a major talking point, attracting interest from both crypto-native platforms and institutional participants.
Options expiry data suggest that traders remain cautious heading into the third quarter. While Bitcoin has regained an important support level, Ethereum’s defensive positioning and the concentration of hedging activity indicate that many market participants are still preparing for elevated volatility rather than pricing in a decisive bullish breakout.
Currently, BTC has managed to trade at a high of $61,932, with its daily trading volume lost over 24.43%, reaching $33.3 billion. Moreover, the Bitcoin market has seen a liquidation of over $94.84 million in the last 24 hours. Notably, ETH has jumped to a trading range at around $1,738. Also, the trading activity has fallen to $12.47 billion, with its liquidation of $171.46 million.
Crypto Market Highlights
XRP Flashes Its First SuperTrend Buy Signal Since June: Is a Strong Rebound Brewing?
Content Writer | Crypto Enthusiast | Bridging Literature and Blockchain
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Ethereum price today: $1,750Retail investors distributed 510K ETH in June, extending a risk-off sentiment that began since the October 10 crash.The supply of staked ETH climbed to a record high of 40.5 million ETH after investors staked 763K ETH in June.The Coinbase Premium Index fell to its lowest since February amid four straight weeks of outflows in US spot ETH ETFs last month.ETH has broken the $1,741 resistance and is eyeing the 50-day EMA.Ethereum (ETH) declined by 21.6% in June, its largest monthly drop since November, amid intense risk-off sentiment and heightened volatility, spearheaded by retail investors and US market participants.
Wallets with a collective balance of 100-1K & 1K-10K ETH offloaded a combined 510K ETH over the past month. This cohort has been instrumental in the top altcoin's steady decline since the October 10 crash, depleting their holdings by 3.91 million ETH.
On the other hand, whales holding 10K-100K ETH pounced on the dip, accumulating 600K ETH in June. Zooming out, these investors have largely maintained a buying sentiment since the October 10 price crash, increasing their balance by 2.48 million ETH.
ETH Balance by Holder Value. Source: CryptoQuantA majority of these whale holdings are likely flowing toward staking. Over the past month, the supply of staked ETH expanded by roughly 763K ETH to a record high of 40.5 million ETH.
Since the beginning of the year, investors have staked 4.5 million ETH. The move indicates that long-term holders are turning to ETH staking to earn yield while waiting for a recovery, rather than exiting the market.
ETH Total Supply Staked. Source: CryptoQuantJune also marked a month of intense risk-off sentiment among US market participants. The Coinbase Premium Index, an indicator of US sentiment, plunged to -0.169, its lowest level since February. The metric has edged slightly higher following the modest price gains over the past few days, but it remains in negative territory.
US institutional interest also remains weak, with US spot ETH exchange-traded funds (ETFs) recording net outflows of roughly $529 million in June, after four straight negative weeks, according to SoSoValue data. On the derivatives side, open interest in ETH futures declined by 1.46 million ETH, while funding rates were volatile with positive and negative flashes in June. Over the past few days, funding rates have remained largely positive, indicating that long traders may be gearing up for a comeback in July.
ETH Open Interest. Source: CoinglassEthereum Price Forecast: ETH breaks $1,741 resistance, eyes 50-day EMAOn the daily chart, ETH is maintaining a capped tone as it holds above the 20-day Exponential Moving Average (EMA) near $1,676 but remains below the 50-day EMA around $1,810 and the 100-day EMA just under $1,984. The Relative Strength Index (RSI) hovers in the mid-50s while the Stochastic Oscillator (Stoch) pushes into overbought territory, suggesting that the latest rebound is gaining momentum but is already running into a dense band of overhead supply.
On the topside, immediate resistance is seen at the convergence of the horizontal barrier at $1,806 and the 50-day EMA. A daily close above these would open the way toward the 100-day EMA near $1,984 and the subsequent caps at $2,019 and $2,108. Higher hurdles are at $2,211 and $2,389.
ETH/USDT daily chartOn the downside, initial support emerges at the 20-day EMA clustered around $1,676 if ETH fails to hold above $1,741. A break below would expose deeper floors at $1,524 and $1,405, before the longer-term base near $1,156.
(The technical analysis of this story was written with the help of an AI tool.)
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.
Ethereum’s monthly TD Sequential indicator reignited optimism after printing its first bullish trigger since March 2025.
Previous monthly buy signals had preceded rallies of 235% in 2022 and 182% in 2025, making the latest signal difficult to ignore.
However, the indicator only suggested that Ethereum could have approached another macro turning point rather than confirming a new bull market.
Historical performance alone does not guarantee a similar outcome because broader market conditions differ across cycles.
Leverage returned as bullish conviction increased Derivatives activity reflected renewed confidence as traders increased their exposure to Ethereum.
At the time of writing, Open Interest had climbed to 11.16B, recording a 13.15% daily increase, while Funding Rates surged 113.86% to 0.0129.
Those figures showed that leveraged long positions expanded during the latest recovery instead of remaining on the sidelines.
However, rising leverage also increased liquidation risk if Ethereum failed to maintain its recent gains.
Positive funding indicated that long traders paid a premium to hold their positions, reinforcing the bullish bias across perpetual futures markets.
However, derivatives data alone did not validate the monthly TD Sequential signal.
Rather, it showed that speculative demand had returned, leaving price action responsible for confirming whether buyers could sustain the growing optimism.
Source: CryptoQuant Ethereum double-bottom recovery faces major resistance Ethereum [ETH] rebounded from a well-defined double-bottom near $1,565 after buyers repeatedly defended that support level.
The recovery pushed the price above $1,700, placing the next technical barrier around $1,800, while $2,000 remained the next major resistance if buying pressure persisted.
RSI also climbed to 51.65, recovering above the neutral level after rebounding from deeply oversold conditions.
That shift reflected improving buying strength rather than weakening demand.
Even so, Ethereum continued trading below its major resistance zones despite reclaiming short-term support.
The current structure suggested buyers had regained control following the correction.
Still, only a decisive break above $1,800 would strengthen the case that the monthly TD Sequential signal aligned with a broader trend reversal instead of another short-lived recovery.
Source: TradingView Liquidity map points toward the next target The 24-hour Liquidation Heatmap showed the largest concentration of leveraged positions around $1,740-$1,750.
This placed a significant liquidity cluster directly above Ethereum’s current price.
Markets often gravitate toward heavily leveraged zones because liquidations create additional trading activity.
As a result, Ethereum retained room for another short-term advance before confronting stronger resistance near $1,800.
Meanwhile, another notable liquidity pocket remained around $1,680-$1,650, leaving downside volatility possible if buyers surrendered control.
The current distribution favored an attempt to sweep overhead liquidity first.
However, the heatmap highlighted areas of interest rather than guaranteeing direction, meaning Ethereum still needed a confirmed breakout to reinforce the broader bullish thesis.
Source: CoinGlass Conclusively, the monthly TD Sequential buy signal revived the long-term bullish outlook, but it did not confirm that Ethereum had entered a new macro uptrend.
The double-bottom recovery, RSI improvement, and rising derivatives activity supported the bullish proposition.
However, Ethereum would likely need to reclaim $1,800 before the technical structure fully aligned with the indicator.
Until then, the recovery remained constructive, but confirmation would depend on buyers overcoming nearby resistance rather than relying on the historical success of the monthly signal alone.
Final Summary Ethereum recovered from a double bottom while bulls targeted the $1,800 resistance level. Rising leverage supported bullish sentiment, though resistance still required decisive confirmation.
Donald Trump struck an optimistic tone on the U.S. economy, arguing that stronger economic growth could support both traditional financial markets like US Stock and risk assets such as cryptocurrencies.
His comments came as Bitcoin rose 1.99% to trade around $62,583, while Ethereum hovered near $1,751 and XRP traded close to $1.13 following a volatile second quarter.
The latest rally was largely driven by a macro-fueled short squeeze after weaker-than-expected U.S. jobs data eased investor concerns over additional interest rate hikes by the Federal Reserve.
Bitcoin is also reportedly showing a 76% correlation with gold, indicating that some investors increasingly view both assets as potential hedges against inflation amid shifting economic expectations.
Trump Says U.S. Economy Is StrengtheningTrump stated that the U.S. stock market had just completed its strongest quarter since his previous administration, pointing to gains in the S&P 500, Nasdaq, and Dow Jones Industrial Average.
"We are the strongest and most powerful country on Earth. And by the grace of God, the United States of America is the most successful, most accomplished, most exceptional nation ever to exist in human history." – President DONALD J. TRUMP 🇺🇸 pic.twitter.com/bGVSS80bJu
— The White House (@WhiteHouse) July 4, 2026 He argued that rising markets were helping boost Americans’ retirement savings through stronger 401(k) balances while his economic policies continued to support growth.
Trump credited several factors for the economic momentum, including:
Tax cuts aimed at increasing disposable income for working families.A narrowing U.S. trade deficit supported by rising exports.Trillions of dollars in announced investments contributing to factory construction, job creation, and manufacturing expansion.Calling it only the beginning, Trump said:
“The Trump economy is soaring. The Stock Market just completed its BEST QUARTER since the last time he was President. Stocks are surging, exports are rising, the trade deficit is shrinking, and trillions in investment are creating jobs. The Golden Age of America is just getting started.”
Stronger Growth and Lower Rates Could Benefit CryptoTrump also criticized the tendency of markets to react negatively to strong economic data due to inflation concerns.
He argued that stronger economic growth should be welcomed rather than feared and suggested that the Federal Reserve may have room to lower interest rates. Trump also praised former Federal Reserve Governor Kevin Warsh while indicating that some policymakers could make future rate cuts more difficult.
Historically, lower borrowing costs have been supportive of risk assets, including cryptocurrencies, making Trump’s comments particularly relevant for Bitcoin and the broader digital asset market.
Investors Continue Watching Policy DevelopmentsBeyond traditional markets, the Trump administration has become increasingly associated with a more crypto-friendly regulatory approach. Meanwhile, Congress continues to work on major digital asset legislation, including the CLARITY Act, as institutional adoption of cryptocurrencies expands.
The outlook for the second half of 2026 remains constructive for crypto markets if economic growth continues and investor confidence remains strong.
🚨 PRESIDENT TRUMP JUST DROPPED: "THE TRUMP ECONOMY IS SOARING! The Stock Market just completed its BEST QUARTER since the last time I was President."
"The S&P 500, Nasdaq, and Dow are all SURGING, sending Americans’ 401(k)s higher and higher. My Working Families Tax Cuts mean… pic.twitter.com/GvklqaQs7Y
— Eric Daugherty (@EricLDaugh) July 4, 2026 However, analysts caution that volatility could increase depending on future Federal Reserve decisions, tariff negotiations, and corporate earnings results, particularly from the artificial intelligence sector, which continues to influence broader market sentiment.
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After weeks of relentless selling, the crypto market is finally showing signs of stabilizing. While prices have bounced from recent lows, Santiment analyst Brian Quinlivan said investors shouldn’t focus on price alone. Instead, he said on-chain data may reveal where the strongest long-term opportunities are emerging.
One metric drawing attention is Market Value to Realized Value (MVRV), which compares an asset’s market value with the average acquisition cost of holders and is commonly used to assess whether a cryptocurrency appears overvalued or undervalued.
Here’s what Santiment’s latest metrics reveal for Bitcoin, Ethereum, and XRP.
Bitcoin: Sentiment Improves, But Whales Are Still SellingBitcoin price has recovered from around $58,100 to nearly $62,432, helping lift overall market sentiment. According to Quinlivan, Bitcoin’s social sentiment has climbed to its highest level in more than two weeks, showing traders are becoming more optimistic again.
However, he warns that the biggest players are telling a different story.
Wallets holding between 10 and 10,000 BTC have collectively sold around 54,700 BTC since mid-June. Historically, whale accumulation has often preceded more sustainable rallies, making the current selling trend something investors should continue watching.
Despite the selling, Quinlivan said Bitcoin’s long-term on-chain data remains encouraging. Its 365-day MVRV stands at roughly -30%, meaning the average long-term holder remains underwater. He said these deeply negative readings have historically marked attractive long-term accumulation zones rather than periods of excessive risk.
Ethereum: Whale Accumulation Is Slowly ReturningEthereum Price is beginning to show more constructive on-chain signals.
According to Santiment, wallets holding between 100 and 100,000 ETH have resumed accumulation after several months of selling. While Ethereum’s 30-day MVRV has moved slightly back into positive territory following its rebound toward $1,700, its longer-term outlook remains more attractive.
The 365-day MVRV remains close to -41%, a level Quinlivan compared to April 2025, when Ethereum was facing widespread bearish sentiment before eventually staging a major recovery toward its previous highs.
Although he expects Ethereum to remain largely dependent on Bitcoin’s direction, Quinlivan said long-term downside risk appears relatively limited compared to previous market cycles.
XRP: On-Chain Data Shows Extreme Oversold ConditionsAmong the three cryptocurrencies analyzed, Quinlivan believes XRP Price currently offers the strongest contrarian setup.
XRP recently defended the key $1.00 support, bouncing from roughly $1.01 while avoiding a decisive break below the psychological support level.
More importantly, both XRP’s 30-day and 365-day MVRV have dropped to around -45%, among the weakest readings recorded in recent years.
According to Quinlivan, these deeply negative readings have historically appeared after periods of retail capitulation following heavy losses. Similar conditions have often preceded meaningful recoveries once selling pressure begins to fade.
While he isn’t calling an exact market bottom, Quinlivan said XRP is currently sitting in one of its lowest historical risk zones, making it one of the most attractive long-term setups based solely on on-chain metrics.
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Nine Quiet Days, Then a Sharp ExitSpot Dogecoin ETFs broke a long stretch of inactivity on July 2, 2026, but not in a positive way. After nine consecutive trading days with no recorded flows, the sector logged approximately $871,000 in net outflows, according to data shared by @BSCNews.
The selling came entirely from @Grayscale's offering, the Grayscale Dogecoin Trust ETF (GDOG), which trades on NYSE Arca under that ticker. The shares trade on NYSE Arca under the symbol GDOG. Despite the capital exit, the fund retains its position as the largest spot $DOGE ETF by assets, with an AUM of approximately $6.92 million at the time of writing.
The trust was formed in January 2021 and commenced operations on January 30, 2025. Its registration statement was declared effective by the SEC on November 21, 2025, and shares began trading on NYSE Arca shortly after.
A Small but Growing Market Under PressureThe broader spot $DOGE ETF market remains modest compared to other crypto ETF categories. The structural shift began with the November 2025 launches of the Grayscale and Bitwise Dogecoin spot products, which slipped through during the US government shutdown via an automatic effectiveness process rather than a formal SEC sign-off, and was confirmed in January 2026 when 21Shares received the first direct SEC approval for a Dogecoin spot product (TDOG, listed on Nasdaq).
Three spot products collectively holding around $14.7 million in AUM is the institutional market voting with its wallet. That figure contrasts sharply with the multi-billion-dollar inflows that greeted spot Bitcoin and Ether ETFs in their early months. DOGE is now a listable, custodiable, regulated-wrapper asset, meaning compliance friction for offering it has collapsed. But the demand signal remains weak enough that desks should size DOGE exposure as a retail-engagement product rather than an institutional-flow story, at least until ETF AUM shows a sustained inflection.
For memecoins like Dogecoin, the road to sustained institutional adoption is still far from certain. For memecoins such as Dogecoin, episodic rallies may continue to be driven by retail enthusiasm and leveraged vehicles , rather than steady ETF-driven demand. Whether the second half of 2026 brings a reversal in flows, or a continued drift, will likely depend on broader altcoin sentiment and any renewed retail appetite for memecoin exposure.
Sources:
The Block: Grayscale Dogecoin ETF (GDOG) Status and Key Details
FinanceFeeds: Dogecoin ETF AUM and Utility Case, May 2026
StockTitan: Grayscale Dogecoin Trust ETF Q1 2026 10-Q Filing
Last month, Cardano’s ADA collapsed below $0.14, the lowest level since the end of 2020. Meanwhile, its market capitalization briefly plummeted to roughly $5 billion, leaving the asset temporarily out of crypto’s top 20 club.
The bulls, though, managed to halt the free fall and even stage an impressive comeback. Here’s what happened and the possible catalysts behind the resurgence.
Green Week for ADA As of press time, the token is worth almost $0.17, representing a 17% increase over the past 7 days. Perhaps the most evident reason pushing ADA higher is the broader market rebound following de-escalation news out of the Middle East.
Bitcoin (BTC) soared to $62,000, while Ethereum (ETH) surged past $1,700 amid reports that Iran and the USA are set to hold the next round of direct talks in the third week of July after the funeral of the supreme leader Ali Khamenei.
Another catalyst could be the excitement surrounding a Cardano upgrade scheduled to go live on July 6. Namely, this is the RealFi Phase 1 Testnet, described as “the first public step toward next-generation stablecoin infrastructure” on the project.
“Crypto’s clearest success story has scaled as money. But not as capital. Hundreds of billions of dollars sit idle in stablecoins: No utility. No impact on the real economy. We think that’s a problem worth solving – and the Testnet is where we start. During Phase 1, participants can explore the platform, use its core features, and share feedback that will directly shape the protocol. This is collaborative infrastructure-building in public, and we want you involved,” the announcement reads.
Speaking about the upcoming effort was Cardano’s founder, Charles Hoskinson, who called it “the largest upgrade” in the project’s history.
Numerous analysts noted ADA’s revival, arguing it has more fuel left to post further gains. X user Sssebi claimed the token “is on fire” and envisioned a short-term pump to $0.20, while Nehal predicted a jump to $0.23, provided the price holds above $0.16.
You may also like: Bitcoin (BTC) Starts July Under $60K, Cardano (ADA) Finally Rebounds: Market Watch ADA Faces Heavy Pressure, But Cardano’s On-Chain Data Tells Another Story BTC, ETH, and XRP Flash Buy Signals After Market Sell-Off: Santiment Not so Fast ADA’s recovery shouldn’t be seen as a guaranteed start of a new bull run, as the crypto market remains quite unstable and vulnerable to another severe pullback.
The asset’s Relative Strength Index (RSI) reinforces the bearish outlook. The technical analysis tool, which ranges from 0 to 100, has risen above 70, indicating that ADA is in overbought territory and due for a possible correction. Conversely, ratios below 30 are considered buying opportunities.
Cardano [ADA] has rallied 13.22% in the past 24 hours of trading, and its daily trading volume has exploded by nearly 60%. This price move came alongside the expected van Rossem hard fork.
This is an intra-era upgrade and not a major hard fork. It focuses on performance and governance, and introduces new Plutus built-in functions.
Combined with the broader market rebound and Bitcoin climbing back above $62,000, the upgrade gave Cardano another short-term catalyst.
What to expect next for Cardano Source: ADA/USDT on TradingView In April and May, the ADA bulls stubbornly clung to the $0.235 support level. Though the altcoin had been in a downtrend from September 2025, the price drop below $0.235 was a severe blow to bullish hopes.
The $0.32 support was another level of importance in the higher timeframe, which was broken in January 2026. This shifted the swing structure bearishly, and the structure remained in control of the sellers since then.
At the time of writing, too, the Cardano price action was bearish on the 1-day timeframe. The move from $0.19 to $0.138 in June was used to plot a set of Fibonacci retracement levels.
The 78.6% retracement level at $0.1789 has been breached to the upside, but the swing structure remained bearish. A daily session close above $0.19 is needed to flip the structure bullishly.
The technical indicators did not offer much hope to the bulls.
The MFI recovered above 50 to indicate upward momentum and increased buying pressure. Yet, the CMF was only at +0.03, despite the swift uptick in trading volume in recent days.
The CMF has been below 0 for the most part since March, signaling a lack of sustained buying pressure.
Traders’ call to action- Sell Source: ADA/USDT on TradingView The current Cardano bounce has reached overextended territory, according to the MFI indicator, whose readings were above the 80 threshold.
Swing traders have a good risk-to-reward opportunity to go short, with invalidation of the bearish idea being an H4 trading session close above $0.19. To the south, the $0.138 and $0.126 levels would be the next price targets.
Final Summary The van Rossem hard fork, an intra-era upgrade, has helped bolster the short-term Cardano market sentiment. The price structure was bearish across timeframes, and a rejection from the $0.178-$0.190 area appeared likely.
Cardano (ADA) founder Charles Hoskinson made noteworthy statements regarding Ripple and the XRP ecosystem. Hoskinson stated that Ripple has been actively working in the sector for a long time and that the company is taking concrete steps every day.
Hoskinson stated that Ripple has launched its RLUSD stablecoin, completed a $1.3 billion Prime Broker deal, and brought hundreds of banks into its ecosystem. Noting that Ripple has been in the industry for 12 years, Hoskinson said, “You have to keep developing.”
Hoskinson also touched upon Cardano’s technical development, stating that the Leios upgrade would provide approximately a 60x increase in in-system processing capacity. Arguing that this development would make Cardano as performant as XRP, Hoskinson added, “We haven’t compromised on our principles.”
Hoskinson also mentioned plans to accelerate ADA’s growth, stating that LayerZero, Circle, and other key companies have been included in the ecosystem as part of the Pentad initiative. He added that growth-oriented teams like AlphaGrowth are also involved, and that commercial products will be developed to increase Cardano’s total locked asset value and trading volume.
Hoskinson stated that the Cardano ecosystem is also focused on increasing scalability on the technology side, saying, “Everyone is moving forward, we’re working 24/7. We all work very hard here and we don’t stop. The market isn’t where it should be, but it’s in a much better state compared to 2018.”
Hoskinson also made statements regarding the Midnight project. He said that Midnight initially focuses on the “big 7” ecosystem, including Bitcoin, Ethereum, Cardano, Avalanche, Solana, BNB, and XRP, and that users from these networks can join Midnight.
*This is not investment advice.
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Open Standard’s announcement of its Open USD stablecoin initiative has sparked debate in South Korea, with several major companies raising objections. Despite being listed as consortium members, some firms have stated they never officially joined the project and only saw their names mentioned after the news spread in local media.
Back-to-back statements from listed companiesOn June 30, Open Standard declared that Open USD, a stablecoin pegged to the US dollar, is set for launch in the coming months. The company revealed that over 140 organizations—including financial institutions, payment service providers, tech leaders, and crypto firms—would participate in the venture.
The announcement named international powerhouses such as Visa, Mastercard, BlackRock, and Google, alongside Korean heavyweights like Samsung Electronics, Dunamu, Shinhan Financial Group, KakaoBank, K Bank, Hyundai Card, KB Kookmin Card, BC Card, Hana Card, Samsung Card, Woori Card, NH Nonghyup Card, and Hanwha. However, numerous Korean companies on the list have emphasized that their participation is not finalized.
Samsung Electronics clarified there have been no official talks with Open Standard and that it has no information about any prospective role within the consortium. Dunamu, Shinhan Financial Group, and K Bank issued similar statements distancing themselves from the project.
According to company representatives, they were merely approached to gauge interest in the initiative. While these firms confirmed they might consider the offer, they made it clear that this does not constitute official approval or partnership. The situation has heightened questions about the actual status of several names highlighted in the Open USD announcement.
The structure behind Open USDOpen Standard stated that Open USD is being developed as a utility-focused stablecoin, with management shared by participating companies during the development phase. Importantly, the company stressed that the project would not function as a decentralized autonomous organization (DAO) or use a profit-sharing partnership model.
In the proposed system, participants can mint Open USD tokens by depositing US dollars into a reserve account. Conversely, they can return tokens to the issuing institution to redeem their cash. Open Standard assured that there will be no fees for these transactions and no restrictions on the number of operations that can be performed.
Mini glossary: A stablecoin is a type of digital token typically pegged to an asset like the US dollar. In reserve-backed models, the issuer aims to hold cash or similar assets that match the value of tokens in circulation.
Revenue sharing model stands outOpen Standard explained that its revenue model will be built around profits generated from reserve assets. After deducting operational expenses, earnings from the reserves will be distributed among participating members. This diverges from the Tether and Circle models, where issuers keep reserve-generated income internally.
Industry circles in South Korea see this project as a potential competitor to USDT and USDC. Nonetheless, companies named in the initial announcement stress that the nature of Open USD’s partnerships remains unclear and is yet to be finalized.
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.
Shielded Labs has raised the possibility of delaying Zcash’s Ironwood network upgrade, citing readiness concerns among exchanges, mining pools and wallet providers ahead of the planned late July activation.
Summary
Shielded Labs says Zcash’s Ironwood upgrade may be delayed as ecosystem participants need more preparation time. Exchanges, wallets and mining pools are simultaneously migrating from zcashd to the new Z3 software stack. Ironwood is designed to secure Zcash’s shielded supply after the Orchard “infinity” bug was disclosed. According to a July 3 X post on the Zcash community forum by Shielded Labs executive director Jason McGee, the network is attempting to complete two major changes at the same time. Alongside Ironwood, infrastructure providers are also expected to replace Zcash’s long-running node and wallet software, zcashd, with a new software suite known as the Z3 stack.
McGee said feedback from ecosystem participants showed mixed levels of preparedness. While some operators believe they can complete the migration before the planned activation window, others have indicated they will require additional time to deploy and test the new software. He added that no decision has been made to postpone Ironwood.
Infrastructure migration remains the biggest hurdle As part of the transition, Zcash is retiring zcashd, which has long been used by exchanges, wallets and other network operators to connect to the blockchain and process transactions. Its replacement consists of Zebra for running network nodes, Zaino for blockchain data services and Zallet for wallet functionality.
According to Zcash’s official migration guidance, some features available in zcashd will not have direct replacements, meaning operators may need to modify their own infrastructure before switching to the new stack. McGee also said both Zallet and Zaino remain under development and are not yet considered production-ready, making deployment timelines uncertain for some ecosystem participants.
The overlap between the software migration and Ironwood activation has created a practical challenge. Delaying Ironwood could extend uncertainty around Zcash’s shielded supply, while proceeding without sufficient preparation could leave exchanges, mining pools, and wallet providers struggling to complete the migration safely.
Ironwood is designed to secure Zcash’s shielded supply Ironwood was proposed after researchers identified an “infinity” bug in Orchard, Zcash’s primary shielded transaction pool. According to the development team, the vulnerability could theoretically have allowed an attacker to create an unlimited amount of counterfeit ZEC inside Orchard without immediate detection. Developers also said they found no evidence that the flaw had ever been exploited.
Because Orchard’s privacy protections prevent anyone from proving that no counterfeit coins were created, Ironwood introduces a replacement shielded pool and closes Orchard to new activity. Funds leaving Orchard would pass through an accounting checkpoint that prevents more ZEC from exiting than originally entered, allowing users to verify that the circulating supply stays within the protocol’s intended limits.
Earlier this year, developers temporarily disabled Orchard transactions through an emergency network update after disclosing the vulnerability while work on Ironwood continued. The upcoming upgrade forms the permanent solution intended to restore confidence in the network’s shielded supply.
Meanwhile, Zcash founder Zooko Wilcox said recent security reviews have not uncovered any additional serious vulnerabilities in the new implementation. He added that developers are continuing to verify the upgraded system before Ironwood is activated, while discussions remain ongoing over whether additional preparation time is needed for ecosystem participants before the network upgrade proceeds.
KuCoin’s cloud mining subsidiary KuMining has rolled out Zcash mining contracts, marking an expansion beyond Bitcoin into one of the few proof-of-work altcoins still drawing sustained market attention. The timing is sharp. ZEC has quietly become a top performer in the altcoin space, according to recent market data included in a weekly gainers roundup that placed it among the biggest risers with a 58.24% weekly jump.
The launch was detailed in the original report, where KuMining framed the move as bringing institutional-grade mining infrastructure to a broader user base. That phrase matters because cloud mining has a checkered reputation in crypto. Many retail miners have been burned by opaque providers, hidden fees, and exaggerated returns. KuMining, backed by a regulated exchange, is trying to differentiate itself by offering transparent contract terms and infrastructure that large-scale miners would use.
Why Zcash Cloud Mining Now The altcoin mining landscape shifted dramatically after Ethereum’s transition to proof-of-stake. Many GPU miners moved on, but Zcash, with its ASIC-dominated Equihash algorithm, remained a bastion for professional mining operations. KuMining’s entry into ZEC cloud mining signals that the platform sees enough demand to make new contract types viable. The 58% weekly surge in ZEC’s price makes the economics more attractive for potential buyers, but the real question is durability. Proof-of-work altcoins that survive multiple cycles tend to do so because of entrenched mining communities and consistent exchange support rather than hype.
By offering Zcash contracts, KuMining is effectively betting that retail miners want exposure to something beyond Bitcoin without navigating hardware purchases, electricity costs, and pool configurations. That convenience always comes at a premium, and contract profitability math doesn’t always favor the buyer when network difficulty climbs.
The Credibility Problem in Cloud Mining Cloud mining has long been a magnet for fraud. Countless platforms launched during the 2017 and 2021 bull markets, only to vanish when mining yields dried up. KuMining’s survival since 2021 and its connection to a major exchange—KuCoin handles billions in daily volume—set it apart from purely anonymous operations. Still, no exchange affiliation automatically guarantees profitability. Users buying ZEC mining contracts are still betting on network difficulty staying manageable and Zcash’s price holding its recent levels.
The platform says it uses institutional-grade infrastructure, but that claim is difficult for retail buyers to verify. What matters more is the contract structure: fees, duration, and the point at which the contract becomes unprofitable. If difficulty spikes and ZEC gives back some of its recent gains, even a well-structured contract can turn negative fast. KuMining’s reputation will depend on how it communicates those risks, not just on the brand name behind it.
What Retail Miners Should Watch Zcash’s supply dynamics matter here. The network has no imminent halving—its emission schedule follows a steady decay curve similar to Bitcoin’s later stages. That means block rewards won’t drop sharply overnight, but profitability is sensitive to the ZEC/USD rate. Regulatory pressure on privacy coins also lurks as a constant risk. Exchanges have delisted privacy-focused tokens in the past under regulatory heat, though Zcash has so far managed to stay listed on major platforms including KuCoin. For cloud mining contract buyers, any change in exchange support could quickly erode the value of mined coins.
KuMining’s ZEC rollout is a bet that retail miners are still hungry for easy exposure to proof-of-work assets beyond Bitcoin—but the bet works only if Zcash’s market momentum holds. The contracts may attract buyers in the short term, but the real test is whether they can deliver positive returns over the duration of a typical mining plan, especially if the broader altcoin market enters another cooling phase.
AUTHOR
Brenda is a writer with three years of experience specializing in cryptocurrency, artificial intelligence and emerging technologies. She graduated from the University of Mombasa with a degree in Psychology. She has worked at Cryptopolitan and Blockchain Reporter.
Cover image via depositphotos.com Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.
The XRP Ledger blockchain has moved close to a historic milestone of 1 million transactions conducted exclusively by autonomous AI agents, according to data from the t.54 service. This large-scale operational surge inside the ecosystem coincided with a powerful wave of broader July market revival.
Against this backdrop, investors are facing the main question: is the resulting impulse enough to push the XRP cryptocurrency through key barriers toward the $1.30 target?
XRP price on a weekly timeframe within Bollinger Bands, Source: TradingViewThe technical answer to this question is being formed right now on the daily chart. While market sentiment is pushing quotes higher, XRP has settled at $1.1194, showing growth of almost 3% over the past 24 hours, and this move allowed the price to break through the middle Bollinger Band on the daily timeframe at $1.1112.
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The local movement is now directed toward the upper boundary of the envelope at $1.2320.
How 1 million AI transactions are complementing the bull case for XRPThe current market dynamics are being further supported by a fresh technological narrative in the form of the XRPL x402 payment facilitator from the t54 team, created with Ripple's support. The protocol uses the native internet code 402 Payment Required, allowing AI bots to directly pay each other for computing power or data, fully removing manual wallet management and the purchase of complex API keys from the chain.
The surge in activity from machines using XRP Ledger's native token and stablecoins for settlements has given the asset a strong informational backdrop exactly at the moment of the market reversal.
Recently, nearly a million agent transactions have settled through our XRPL x402 facilitator.
More agents, more merchants, and more volume are coming to the XRP Ledger. pic.twitter.com/xqwt8MAPUF
— t54.ai (@t54ai) July 3, 2026 The automation of payments between robots launches a long-term deflationary mechanism, since every on-chain operation burns part of the network fee, reducing the available supply of coins.
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The current practice clearly illustrates the well-known 10-year forecast from Ripple's leadership. According to it, over the next decade, autonomous artificial intelligence will become one of the main consumers of network liquidity, turning blockchain into the base settlement infrastructure for robots.
Now, as broader July trends have given XRP its initial push, consolidation above the daily indicators is preparing the ground for a test of the main barrier, which is the weekly middle Bollinger Band at $1.3147.
A breakout of this zone against the backdrop of record AI-agent activity will become the final confirmation that the multi-month downtrend has been definitively broken, while the $1.30 target is fully open for buyers.
The Canary Capital Hedera ETF (Nasdaq: HBR) recorded its largest single-day inflows in nearly seven weeks on July 2, pulling in $989,000 in net new capital. The figure marks the first inflows the product has seen since June 12 and comes close to matching the fund's previous high-water mark of $1.01 million, set on May 15.
The timing is notable. The U.S. spot ETF for $HBAR, launched by Canary Capital, had recorded zero investor inflows for multiple consecutive weeks as of late June 2026, with another week of no capital flows noted as recently as June 27. The July 2 reading breaks that run of silence and puts the fund back in positive territory, at least for now.
A Brief History of HBRCanary Capital launched the Canary HBAR ETF (Nasdaq: HBR), a U.S. exchange-traded fund providing spot exposure to $HBAR, the native token of the Hedera network, with the fund declared effective by the SEC and beginning trading on October 28, 2025. Unlike futures-based funds, HBR holds actual HBAR tokens in custody, making it the first-ever spot ETF offering direct exposure to HBAR.
The ETF currently holds 1.56% of $HBAR's circulating supply, according to data cited by @BSCNews. That figure has grown steadily since launch. As of late March 2026, the fund had accumulated 549 million HBAR, representing 1.3% of circulating supply and $93 million in total inflows.
Context and What to WatchThe brief return of inflows comes against a backdrop of mixed signals for the product. The prior stretch of stagnation contrasted with active flows into other altcoin ETFs, indicating a lack of fresh institutional capital specifically for HBAR.
On the regulatory front, the picture is more constructive. Hedera's regulatory position strengthened on March 17, 2026, when the SEC and CFTC jointly classified HBAR as a "digital commodity," removing major legal uncertainty. That foundation supports the 15 active spot ETF filings, including those from Grayscale and Bitwise, alongside the existing Canary product.
Whether July 2's inflows represent a turning point or a one-off remains to be seen. For now, the fund's holders will be watching closely to see if institutional interest can sustain itself through the summer.
Solana's RWA ecosystem has reached another major milestone after climbing to a new all-time high of $3.62 billion in total value.
The network added more than $540 million in RWA value over the past 7 days alone, extending a growth trend that has accelerated throughout 2026. At the start of the year, Solana's RWA ecosystem stood at approximately $1.4 billion. In just 6 months, the network has added more than $2 billion in tokenized assets.
The latest milestone places Solana behind only Ethereum, which holds approximately $15.9 billion in RWAs, and BNB Chain, at roughly $3.9 billion.
Growth Continues Across Over the past 30 days, Solana's RWA market has grown by more than 33%, but the expansion extends well beyond asset value. The ecosystem now hosts 2,119 distinct RWAs and 292,818 RWA holders, reflecting continued growth in both the number of available products and user participation.
Tokenized financial products continue to attract new users, while existing issuers expand their offerings on the network.
Solana Leads 30D Capital Flows According to RWA.xyz data, Solana recorded approximately $967 million in net inflows over the past 30 days, the highest among all blockchain networks by a wide margin.
Ethereum moved in the opposite direction, recording approximately $202 million in net outflows during the same period.
The flow data indicates that new capital has increasingly favored Solana as institutions and issuers expand their onchain products.
Spiko Brings Native Tokenized Fund to Solana Part of that momentum comes from the continued arrival of institutional issuers. On July 2, Spiko officially launched on Solana, becoming the first European issuer to deploy natively on the network.
Spiko is one of the world's largest real-world asset issuers and one of the fastest-growing tokenized fund platforms in history. Its flagship product, the Spiko Amundi Overnight Swap Fund (SAFO), is managed by Amundi, Europe's largest asset manager with €2.4 trillion in assets under management.
Investors can mint, transfer, and redeem fund shares directly onchain, with subscriptions and redemptions settled in Circle's stablecoins.
SAFO is a UCITS-compliant money market fund that offers overnight liquidity while targeting yields above risk-free benchmarks. The launch expands the availability of institutional-grade investment products on Solana and demonstrates growing confidence in blockchain-based financial infrastructure.
With more than $2 billion added in just 6 months, record capital inflows, and increasing participation from major financial institutions, Solana continues to establish itself as one of the leading blockchain networks for real-world asset tokenization. The latest all-time high of $3.62 billion highlights the pace at which traditional finance and blockchain infrastructure continue to converge.
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