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Pump.fun (PUMP) edges higher on Thursday, building on support around $0.0014. The token trades above $0.0015, up by more than 13% on the day, backed by robust momentum indicators and a broadly recovering crypto market following weeks of heavy selling pressure.
PUMP derivatives activity climbs as risk appetite improvesRetail participation in the derivatives market remains relatively elevated, given that futures Open Interest (OI) averages 86.54 billion PUMP on Thursday, up from 84.68 billion PUMP the previous day. A broader scope suggests a stronger derivatives market at current levels than on June 24, when OI averaged 68.28 billion PUMP. If the growth is sustained, the increase in demand would support a short to medium-term recovery.
PUMP Futures OI | Source: CoinGlassPrice analysis: PUMP bulls test rebound strength PUMP holds elevated above $0.0015 after breaking a two-day bearish streak, with support around $0.0014 encouraging buyers to reengage and increase risk exposure. Despite the price increase, the token retains a mildly bearish near-term bias, with upside capped by descending trendline resistance around $0.0017, which converges with the 100-day Exponential Moving Average (EMA).
The Relative Strength Index (RSI) at about 55 on the daily chart hints at improving but still moderate bullish momentum. Moreover, the Moving Average Convergence Divergence (MACD) histogram retains a bullish outlook on the same chart, suggesting recovery attempts are supported by PUMP's technical structure.
PUMP/USDT daily chartOn the topside, initial resistance is clustered near $0.0017, where the descending trendline and the 100-day EMA converge, before a stronger barrier emerges at the 200-day EMA around $0.0020. Looking down, the Parabolic SAR at $0.0012 offers the next meaningful support level, with a daily close below that signal likely opening the door to a deeper pullback in the short term.
(The technical analysis of this story was written with the help of an AI tool.)
Open Interest, funding rate FAQs Higher Open Interest is associated with higher liquidity and new capital inflow to the market. This is considered the equivalent of increase in efficiency and the ongoing trend continues. When Open Interest decreases, it is considered a sign of liquidation in the market, investors are leaving and the overall demand for an asset is on a decline, fueling a bearish sentiment among investors.
Funding fees bridge the difference between spot prices and prices of futures contracts of an asset by increasing liquidation risks faced by traders. A consistently high and positive funding rate implies there is a bullish sentiment among market participants and there is an expectation of a price hike. A consistently negative funding rate for an asset implies a bearish sentiment, indicating that traders expect the cryptocurrency’s price to fall and a bearish trend reversal is likely to occur.
DeFiLlama has cut all ties with DL News after unidentified buyers acquired the outlet’s website and X (Twitter) account. The analytics platform says no future posts from the brand carry its endorsement.
Core developer 0xngmi went further, warning users not to trust anything the brand publishes. DL News ended editorial operations in May 2026 before its assets changed hands.
From DeFiLlama News Arm to Sold AssetDL News launched in 2022 as the news arm of DeFiLlama, the open-source analytics platform tracking DeFi deposits. Unlike the platform, however, the outlet was built to turn a profit.
DeFiLlama announced the break in a July 1 statement on X.
“New owners have taken over the @dlnews website and assets. We expect them to resume posting soon. They’re no longer affiliated with DefiLlama in any way. We can’t corroborate any information about outreach and no posts should be considered to be endorsed by us.”
Follow us on X to get the latest news as it happens
The relationship fractured in March 2023, when 0xngmi publicly threatened a fork over a LLAMA token plan the team opposed. The sides reconciled within days, but the newsroom operated separately for the next two years.
1/3 The DeFiLlama team would like to apologize for the events that unfolded yesterday, as a result of poor communication and a misunderstanding within the team.
— DefiLlama.com (@DefiLlama) March 20, 2023 Director Paige Aarhus announced the closure on May 7, citing shrinking readership and AI’s damage to search traffic.
DL Research, its 2024 commercial arm, grew revenue by 270% in 2025 and crossed the seven-figure mark. The growth still failed to offset the audience collapse.
DeFiLlama, meanwhile, continues to operate as normal. It recently drew scrutiny for relisting Aster perpetual data, a sign of how closely users watch its neutrality.
Why DeFiLlama’s DL News Buyback Failed0xngmi told users not to trust anything published under the DL News name, likely indicating the open-source analytics platform no longer endorses the publication.
Further, the core developer explained that DeFiLlama attempted to buy the assets after the shutdown but failed.
Obviously I wouldn't have sold it but it was not owned by me
After dlnews shut down we even tried to purchase it as defillama just to fully close it, but it wasnt possible
— 0xngmi (@0xngmi) July 2, 2026 The purchase failed because the brand belonged to Llama Corp, a Dubai-based entity, not the analytics team.
“Why does being sold mean it can’t be trusted? Doesn’t automatically follow, new ownership doesn’t guarantee bad journalism,” one user challenged.
The core developer did not immediately respond to BeInCrypto’s request for comment.
The site still lists Llama Corp in its footer and displays the closure notice.
DeFiLlama Cuts Ties With DL News After Surprise Ownership SaleThe buyers remain unidentified. But market data suggests why the brand still found one.
An April 2026 analysis of 107 crypto news sites found more than 40 with zero organic traffic. Five outlets captured 78% of search visits.
That concentration gives dormant brands residual value. AI tools also drive over 25% of referrals to US crypto media, rewarding domains with citation history.
Trust remains the open question. Research shows crypto press releases can move risky asset prices, and an inherited newsroom brand could carry similar influence.
Whether the new owners identify themselves once publishing resumes may decide how much credibility survives the transfer.
Bitwise said STRC’s collapse is a classic late-cycle deleveraging event, not a sign of impending liquidation at Strategy.Strategy’s new framework shifts MSTR from a one-way bitcoin buyer to a more flexible capital allocator.The asset manager expects institutional investors, not Strategy, to become bitcoin’s dominant source of demand in the next cycle.Asset manager Bitwise said the sharp decline in Strategy’s (MSTR) perpetual preferred stock, STRC, is a hallmark of a maturing crypto cycle rather than evidence of a looming crisis at the company.
Bitcoin’s recent pullback below $60,000 coincided with STRC breaking from its intended $100 par value, as investors questioned Strategy’s willingness to maintain preferred dividend payments.
While the selloff rattled markets, Bitwise argued Strategy remains fundamentally well-capitalized, with roughly $52 billion in liquid assets against about $7 billion of debt.
"The volatility in STRC is a natural and important part of the crypto cycle. I think we’re nearing the bottom," Bitwise CIO Matt Hougan said in a Wednesday blog post.
Bitcoin was trading around $61,400 at publication time, STRC at $88.
According to Hougan, Strategy’s decision to stop defending STRC’s $100 price through automatic rate hikes, and instead allow the security to trade freely while retaining the option to sell bitcoin or repurchase STRC, was a pragmatic response to deteriorating market conditions.
Earlier this week, Strategy unveiled a capital framework allowing selective bitcoin sales to fund preferred dividends, while authorizing preferred share repurchases and stock buybacks. It also set a minimum cash reserve covering 12 months of preferred dividend and interest payments. Its $2.55 billion cash balance currently covers about 17 months.
Hougan said the episode marks a broader shift in Strategy’s role within bitcoin markets. Rather than serving as crypto’s dominant, one-way buyer, the firm is likely to become a more flexible participant whose bitcoin purchases or sales depend on market conditions.
Looking ahead, Bitwise believes institutional investors, including asset managers, banks, pensions, endowments and sovereign funds, are positioned to replace Strategy as bitcoin’s primary source of demand.
More broadly, STRC volatility is seen as part of the leverage unwind that typically marks the late stages of every crypto cycle. As speculative excess is flushed from the system, the market moves closer to establishing a durable bottom, though the exact timing remains impossible to predict, the report added.
Wall Street bank JPMorgan said Strategy's new policy allowing selective bitcoin sales to fund preferred dividends creates avoidable two-way risk, increasing uncertainty and market volatility.
AI Disclaimer: Parts of this article were generated with the assistance from AI tools and reviewed by our editorial team to ensure accuracy and adherence to our standards. For more information, see CoinDesk's full AI Policy.
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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.
Somewhere in Nairobi, someone just paid for a cab ride with Bitcoin. Not in the “sold BTC on an exchange, withdrew to a bank account, then transferred funds” kind of way. The actual, tap-your-phone-and-go kind of way. And the driver received Kenyan shillings instantly without ever touching a crypto wallet.
That’s the promise of Tando, a Kenyan payments app founded by Jason and Sabina Waithira that has quietly built a bridge between Bitcoin’s Lightning Network and M-Pesa, Kenya’s dominant mobile money system.
How Tando actually works A customer pays in Bitcoin over the Lightning Network. Tando converts it to Kenyan shillings instantly. The merchant receives KES directly into their M-Pesa account. No crypto wallet required on the merchant’s end, no volatility risk, no waiting around for block confirmations.
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The app launched in July 2024 and was already processing over 100 transactions daily by mid-2025. Users pay no additional transaction fees, which removes one of the biggest friction points that has historically plagued crypto payments.
In May 2026, Tando hit a milestone that explains why this story matters beyond Kenya’s borders. The app enabled approximately 40 million Kenyans to receive Bitcoin payments by converting their M-Pesa phone numbers directly into Lightning addresses. Forty million people, roughly the entire adult population of Kenya, can now be on the receiving end of a Lightning payment without downloading anything new or understanding what a satoshi is.
Why Kenya is the perfect testing ground To understand why this works in Kenya specifically, you need to understand M-Pesa. Launched in 2007 by Safaricom, M-Pesa essentially turned every phone number into a bank account long before the rest of the world started talking about “financial inclusion.”
Real-world use cases have already been demonstrated publicly. During the 2024 African Bitcoin Conference, attendees used Tando to pay for transportation fares and restaurant bills. By the time the Bitcoin Nairobi Conference rolled around in June 2026, the app’s new capability of converting M-Pesa numbers into Lightning addresses was a major talking point.
The founders champion a “spend, not sell” approach to Bitcoin. Rather than treating BTC as a speculative asset you eventually cash out, the idea is to use it as actual money.
What this means for investors and the broader market Tando has demonstrated that you can plug Bitcoin into an existing, trusted, widely adopted financial system without asking merchants to change anything about how they operate. The merchant doesn’t need a wallet. They don’t need to understand Lightning channels. They just get shillings.
The risk, of course, is regulatory. Kenya’s approach to crypto regulation has been evolving, and any sudden policy shift could disrupt Tando’s operations. There’s also the question of sustainability: processing payments with zero fees is a great user acquisition strategy, but it’s not an obvious business model.
Disclosure: This article was edited by Editorial Team. For more information on how we create and review content, see our Editorial Policy.
The headline number is useful, but the real story is what it says about positioning. Bitcoin Reclaims $61,000 as Dovish Inflation Outlook Softens Market Fear gives NewsBTC readers a clean angle on Bitcoin Price at a point where the market is trying to separate durable signals from short-lived noise.
According to the source material reviewed for this report, the story turns on a few concrete details rather than vague sentiment. That matters because crypto headlines can move quickly, but the pieces that tend to last are the ones backed by filings, official releases, data dashboards, or protocol-level records.
TL;DR
Bitcoin reclaimed the $61,000 level after a sharp recovery from support at $58,000. The move was triggered by public comments from Fed Chair Kevin Warsh suggesting that inflation risks have eased. Traditional equity chip selloffs did not halt the digital asset recovery. For more details, visit the official Federalreserve platform.
A Fresh Signal For The Market The immediate relevance is that this development fits into one of the market’s main themes for the day: institutional positioning, network usage, regulatory pressure, protocol development, or asset-specific rotation. In this case, the key topic is Bitcoin Price, which is why it deserves a dedicated read rather than being buried inside a broader market recap.
For traders, the useful part is not simply that the headline exists. It is the way the facts line up with the current market backdrop. When official sources, market data, or protocol records show a fresh shift, readers get a better sense of whether the move is just a one-day reaction or part of something more structural.
The Numbers That Matter The core source for this story is federalreserve.gov with supporting data from federalreserve.gov. That source trail is important because the final article should not rely on discovery-only media links or second-hand summaries.
Bitcoin reclaimed the $61,000 level after a sharp recovery from support at $58,000.
The move was triggered by public comments from Fed Chair Kevin Warsh suggesting that inflation risks have eased.
Traditional equity chip selloffs did not halt the digital asset recovery.
The numerical claims in the pack were tied back to specific source material before writing. '$61,000' sourced from TradingView BTC/USD spot market exchange feeds; 'July 1, 2026' sourced from ECB annual forum Sintra presentation date
The Important Caveat The caution is just as important as the headline. Do not present Warsh's comments as an official FOMC policy shift; he is commenting on macroeconomic trends at the ECB forum.
That means the cleaner read is to treat this as a confirmed development with a defined scope, not as proof of a guaranteed price move or a sweeping market shift. In crypto, the difference matters. A verified data point can strengthen a thesis, but it does not remove execution risk, liquidity risk, regulatory uncertainty, or the possibility that traders fade the initial reaction.
For now, the story gives the market another piece of evidence to weigh. If follow-up filings, dashboard updates, protocol records, or official statements confirm further momentum, the angle can develop into something larger. If not, it still stands as a useful snapshot of where activity is concentrating today.
This report is based on information from federalreserve.gov and federalreserve.gov.
This article was written by the News Desk and edited by Samuel Rae.
Bitwise Chief Investment Officer Matt Hougan said Bitcoin may be approaching a market bottom as turmoil surrounding Strategy’s STRC preferred stock forces excess leverage out of the crypto market.
In his latest weekly memo, Hougan described the recent volatility in STRC and the decline in Strategy shares as classic end of cycle dynamics. He said the correction reflects the unwinding of financial engineering that brought yield seeking capital into Bitcoin during the bull market.
“The volatility in STRC is a natural and important part of the crypto cycle,” Hougan wrote. “I think we’re nearing the bottom.”
STRC is a perpetual preferred stock launched by Strategy to provide investors with a high yield while targeting a trading price near its $100 par value. Strategy used proceeds from the instrument to finance additional Bitcoin purchases.
Demand initially remained strong as Strategy gradually increased STRC’s dividend rate to 11.5%. The company raised about $10.5 billion through the product, according to Hougan.
However, STRC recently fell as low as roughly $75 as declining Bitcoin and MSTR prices raised concerns over Strategy’s ability and willingness to continue funding preferred dividends.
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Strategy responded this week by introducing a new capital management framework that allows it to sell Bitcoin to strengthen its dollar reserve, meet dividend and debt obligations, and fund share repurchases.
The company also raised STRC’s annual dividend rate to 12% and authorized as much as $2 billion in common and preferred stock buybacks.
The framework permits Strategy to generate up to $1.25 billion through Bitcoin sales while maintaining a cash reserve intended to cover at least 12 months of dividend and interest payments.
Hougan said the changes suggest Strategy’s role in the Bitcoin market has shifted. After spending years as one of the asset’s most consistent buyers, the company may now buy or sell Bitcoin depending on market conditions.
“For years, Strategy has been the most dominant Bitcoin buyer in the world and a one way source of Bitcoin demand,” Hougan wrote. “Those days are likely over.”
He does not expect Strategy to become a major seller, noting that the company has enough assets to cover its debt and preferred obligations. He also dismissed fears that Strategy faces imminent liquidation, arguing Bitcoin would need to suffer a much deeper and sustained decline before the company faced serious balance sheet pressure.
Instead, Hougan expects institutional investors to become the leading source of Bitcoin demand during the next market cycle, including banks, asset managers, pension funds, endowments, sovereign wealth funds, and financial advisers.
Hougan compared the STRC unwind with the collapse of the Grayscale Bitcoin Trust premium following the 2019 to 2021 bull market. In both cases, financial structures attracted capital that depended on unusually favorable market conditions and later had to be unwound before the market could establish a durable bottom.
He said investors should watch for signs including MSTR trading below the value of its Bitcoin holdings, extreme readings in the Crypto Fear and Greed Index, and persistently negative funding rates.
Market bottoms remain impossible to identify in real time, Hougan said, but the unwinding of STRC related leverage suggests the market is progressing through the final stages of the cycle.
“I’m convinced the bottom is closer than ever,” he wrote, adding that he expects a new Bitcoin bull market to begin in the fall.
Disclosure: This article was edited by Estefano Gomez. For more information on how we create and review content, see our Editorial Policy.
The National Bank of Kazakhstan has issued the country’s first official crypto exchange operating license, granting authorization to Pax Finance. This milestone gives the company the ability to offer services beyond the previously limited Astana International Financial Centre (AIFC), marking the start of a broader era for digital assets and crypto regulation in Kazakhstan.
Expanded authority under the new licenseWith the central bank’s approval, Pax Finance is now permitted to facilitate crypto trading, provide digital asset custody solutions, and enable conversions between cryptocurrencies and traditional fiat currencies. The new license also allows the company to open branches nationwide and deploy Bitcoin ATMs across Kazakhstan, extending its reach well beyond the capital.
Founded on May 20, Pax Finance was established by prominent figures in Kazakhstan’s financial and fintech sectors. Among the founders are Arman Batayev, who previously worked at EY and within the AIFC, and Azat Bekmagambetov, recognized as an early leader in Kazakhstan’s crypto industry and a co-founder of one of Central Asia’s first Web3 accelerator programs.
Glossary: The Astana International Financial Centre (AIFC) is a regional hub in Kazakhstan’s capital, operating under its own distinctive regulatory framework for financial services. Web3 accelerator programs provide blockchain-focused startups with mentorship, investor connections, and product development support.
The National Bank reminded market participants that the license regime for crypto sector companies officially took effect on May 1, 2026. It emphasized the requirement for all entities wishing to operate legally in the country to register with Kazakhstan’s financial regulator.
The National Bank of Kazakhstan reiterated that, as of May 1, 2026, all crypto industry participants must comply with the newly established licensing framework and fulfill ongoing registration requirements in order to operate legally.
New phase in crypto regulationKazakhstan gained prominence in the crypto mining industry a few years ago, following restrictive measures introduced in China. Initially, authorities limited permitted crypto activities to platforms overseen by residents of the Astana International Financial Centre, aiming to provide legal avenues for miners to convert their earnings.
The Digital Assets Law, introduced in 2023, granted cryptocurrencies official legal recognition; however, their use cases remained restricted for some time. Despite these limitations, the majority of digital asset activity persisted on peer-to-peer networks, unregistered exchanges, or platforms based outside of Kazakhstan.
Crackdown on illegal operations intensifiesEarlier this year, a series of legislative amendments were put in place to expand crypto oversight beyond Astana and establish a more comprehensive regulatory regime. In early May, changes to the Digital Assets Law were enacted, quickly followed by further measures to legalize crypto-related monetary flows.
This new license makes Pax Finance the first platform to be admitted into Kazakhstan’s expanded, regulated digital asset market. It also comes as authorities increase enforcement against unlicensed activity. According to local officials, nearly 130 illegal trading points were shuttered at the start of 2026, with these sites accounting for a combined $127 million in digital asset transactions. Investigations resulted in asset seizures valued at more than $5 million.
New momentum for crypto paymentsKazakhstan’s government has expressed concerns over significant capital outflows facilitated through cross-border crypto transfers. President Kassym-Jomart Tokayev has publicly urged regulators to curtail these outflows and strengthen oversight.
Meanwhile, authorities are also taking steps to further legitimize crypto payments within Kazakhstan’s borders. While the tenge will remain the exclusive legal tender for direct transactions, crypto holders will be able to use so-called crypto cards, which instantly convert digital assets into fiat currency for goods and services.
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.
Crypto exchange Bitget has launched US stock options, allowing users to trade options on US-listed companies.
The company described itself in a note to Bitcoin Magazine as the world’s largest Universal Exchange and states that it is the only major crypto exchange offering US stock options alongside crypto and contract-for-difference markets in gold, forex, commodities and indices.
The initial release includes long call and long put strategies for eligible users. A call option lets a trader take a bullish position on a stock, while a put option allows a trader to express a bearish view or manage downside exposure.
Risk for buyers is limited to the premium paid, and an option can expire without value if the expected price movement does not occur.
The launch expands Bitget’s stock product line.
The company’s earlier products include tokenized stocks and pre-IPO access to private market opportunities. Stock options join the Stock+ offering, which the company positions as a direct-access venue for US equities built for traders familiar with established stock market products and regulated market infrastructure.
Bitget stated that the addition supports its goal of combining crypto, stocks, commodities and other assets in one trading environment.
Bitget: The U.S. options market is booming Demand for listed options has reached record levels. The US options market processed more than 15.2 billion contracts in 2025, an average of about 60 million contracts per trading day. The figures reflect wider use of options among retail and institutional participants for directional trading, hedging and capital management.
“We have moved first to connect stock opportunities with our users,” said Gracy Chen, CEO of Bitget. “From tokenized stocks to now options, we are executing on convergence. Our products provide advanced trading access to stocks, gold, crypto and worldwide assets.”
The first release focuses on single-leg options buying to provide an entry point for users. The company plans additional functionality, including multi-leg strategies, as the Stock+ options product develops.
For the launch, eligible users who complete a first US stock options trade may receive $15 in NVIDIA stock, subject to campaign terms and regional availability.
Bitget said they have more than 125 million users and access to over two million crypto tokens, along with 500-plus tokenized stocks, ETFs, commodities, foreign exchange and precious metals such as gold.
The company holds partnerships with MotoGP and UNICEF, the latter to support blockchain education for 1.1 million people by 2027. Bitget states that it leads the tokenized traditional-finance market across 150 regions.
Micah Zimmerman
Micah first discovered Bitcoin in 2018 but remained a skeptic on the sidelines for too long. Since 2021, he has covered crypto and business and now works as a news reporter for Bitcoin Magazine, based in North Carolina.
JPMorgan Chase & Co. warns that Michael Saylor’s financing overhaul at Strategy Inc. has shaken up the dynamics of the Bitcoin market by introducing the risk that one of the cryptocurrency’s biggest buyers could also become a seller, adding a new source of uncertainty for investors.
Strategy’s new policy of selectively selling Bitcoin to fund preferred-stock dividends and manage its balance sheet had created an “avoidable” two-way flow risk for the market, the bank wrote in a report late Wednesday. While maintaining larger cash reserves would reduce the likelihood of future sales, JPMorgan argued the company would need enough liquidity to cover two to three years of dividend payments before investors are confident that it won’t need to monetize its Bitcoin holdings.
Michael Saylor has highlighted that Strategy’s open interest-to-market-cap ratio has climbed to nearly 72%, far exceeding the levels seen across the largest U.S. technology stocks as MSTR rebounds above $100 alongside Bitcoin’s recovery.
Summary
Michael Saylor says MSTR’s open interest-to-market-cap ratio has reached nearly 72%, far ahead of major U.S. tech stocks. MSTR rebounded above $100 as Bitcoin climbed past $62,000, lifting other crypto-related stocks. Bitwise and Wall Street remain positive on Bitcoin despite recent Strategy price target cuts from Canaccord and TD Cowen. According to a July 2 X post by Strategy co-founder Michael Saylor, MSTR currently carries an open interest-to-market-cap ratio of almost 72%, making it the highest among the companies he compared.
Tesla ranked a distant second at 16%, followed by Meta at 11%, Microsoft at 6.1%, Nvidia at 5.8%, Amazon at 4.4%, Alphabet at 4.2%, and Apple at 3.2%. The comparison comes as investors increase activity around the Bitcoin-focused stock after its recent rebound.
Heavy derivatives positioning has outpaced Big Tech peers Open interest measures the total number of outstanding derivatives contracts tied to a stock. A high open interest-to-market-cap ratio points to unusually large positioning relative to the company’s size, although the metric alone does not indicate whether traders are betting on gains or losses because it includes both long and short positions.
Recent price action has coincided with the elevated derivatives activity. Yahoo Finance data showed MSTR rising to an intraday high of about $104 after reclaiming the psychologically important $100 level. The stock gained more than 10% during the session and has climbed over 23% from its recent low near $82 over the past five trading days. Even after the rebound, however, MSTR remains down more than 37% over the last six months.
Source: Yahoo Finance The recovery in Strategy shares came as Bitcoin briefly traded above $62,000 after weaker-than-expected U.S. jobs data improved sentiment across risk assets. Other crypto-linked equities, including Coinbase, Robinhood, Marathon Digital, the iShares Bitcoin Trust, and Hut 8, also recorded notable gains during the session.
Wall Street still sees Bitcoin strength despite lower Strategy targets Bitwise Chief Investment Officer Matt Hougan pointed to Strategy’s valuation as one of the indicators worth monitoring as investors search for signs that Bitcoin may be approaching a market bottom.
In his latest memo, Hougan wrote that MSTR trading at a discount to its net asset value would be one of the few signals to watch while also discussing Strategy’s recently introduced digital credit framework, under which the company could sell up to $1.25 billion worth of Bitcoin.
Hougan argued that institutional investors are likely to overtake Strategy as the largest buyers of Bitcoin over time. At the same time, he maintained that the company is unlikely to become a forced seller because, in his view, no mechanism currently exists that would require it to liquidate large portions of its Bitcoin holdings.
Commenting on the current weakness in Strategy’s securities, Hougan described the decline in MSTR and STRC as part of Bitcoin’s cyclical process rather than an isolated event.
“This is a painful but necessary part of the current crypto market cycle, as it is with all cycles.”
Wall Street analysts have nevertheless become more cautious on Strategy’s stock valuation. As previously reported by crypto.news, Canaccord lowered its price target on the company to $130 from $163, attributing the revision to Strategy’s prolonged share price decline rather than any change in its long-term Bitcoin outlook. The brokerage said its investment thesis for Bitcoin remains intact despite the lower target.
The Canaccord revision followed another recent adjustment by TD Cowen, which cut its Strategy price target to $260 from $400 while maintaining its Buy rating, indicating that although valuation expectations have been reduced, some analysts continue to back the company’s long-term exposure to Bitcoin.
Bitcoin (BTC) passed $62,000 at Thursday’s Wall Street open as crypto reacted to weak US employment figures.
Key points:
US nonfarm payrolls data delivers a crypto market boost as job additions for June fall short.Investors eye an easing in the inflation outlook as optimism over BTC prices increases.Crypto begins its forecast "green July" by liquidating nearly $500 milllion of short positions.Bitcoin gains amid "volatile situation" for US labor marketData from TradingView showed new July highs of $62,137 on Bitstamp, with BTC/USD up nearly 4% on the day.
The latest nonfarm payrolls data from the Bureau of Labor Statistics (BLS) showed that the US added far fewer jobs than expected in June, at 57,000 versus the anticipated 114,000.
“Both the unemployment rate, at 4.2 percent, and the number of unemployed people, at 7.1 million, changed little in June,” an official news release stated.
US unemployment data. Source: BLS
The jobs numbers painted a weak picture of the labor market — a potential tailwind for risk assets should the Federal Reserve loosen financial policy as a result.
“May's jobs number was also revised down by -43,000 jobs,” trading resource The Kobeissi Letter noted in a reaction on X.
“The labor market remains in a volatile situation.”As Bitcoin and altcoins headed higher, crypto trader and analyst Michaël van de Poppe was among those shifting toward a more optimistic mid-term market view.
“Inflation expectations have come down. Now, unemployment drops too. It's at its lowest level in close to a year. Those are strong, public signals about the direction of the markets,” he told X followers.
“I don't think we'll see another drop on Bitcoin if Bitcoin can clearly break through $65,000 from here.”Bitcoin "buyers are back and strong"Other market participants also drew attention to Bitcoin bulls’ newfound strength.
“Price drilling through large asks on Binance perps orderbook is actually sign of strength. Plus, we have chasing bids supporting aggressive buyers,” commentator Exitpump reported about exchange order-book data.
“Buyers are back and strong.”BTC/USDT chart with order-book liquidity data. Source: Exitpump/X
Data from CoinGlass put 24-hour crypto short liquidations at nearly $450 million at the time of writing.
BTC/USD vs. cryptocurrency liquidations (screenshot). Source: CoinGlass
“Welcome to green July,” trader and analyst Rekt Capital continued.
As Cointelegraph reported, Rekt Capital expects a July relief rally for Bitcoin before bear-market momentum resumes in August.
An accompanying chart, which featured the 21-month and 50-month exponential moving averages (EMAs), drew comparisons to the 2022 bear market, with the implication that the cycle lows were still to come.
“And once Bitcoin turns the 50 EMA into new resistance on this relief rally, it will likely enter additional Bearish Acceleration over time,” Rekt Capital added in a separate X post.
BTC/USD one-month chart with 21, 50EMA. Source: Rekt Capital/X
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.
For years, Michael Saylor’s company was the one thing Bitcoin bulls could always count on. No matter how ugly the price action got, Strategy Inc. (formerly MicroStrategy) would be there, hoovering up Bitcoin like a vacuum cleaner with a corporate credit card. That reputation just took a serious hit.
JPMorgan analysts are now warning that Strategy’s recent financing restructuring could flip the company’s role in the market from relentless accumulator to net seller. The company has authorized potential Bitcoin sales of up to $1.25 billion to shore up liquidity and fund share repurchase programs.
The numbers behind the pivot Strategy faces approximately $1.7 billion in annual preferred dividend obligations, a figure that dwarfs the cash cushion it’s been sitting on.
As of June 28, Strategy’s dollar reserves stood at roughly $2.55 billion. That covers about 6.3 months of those dividend responsibilities, according to JPMorgan’s June 2026 report.
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The company first established a $1.44 billion dollar reserve back in December 2025 specifically to service preferred stock dividends and debt.
Between May 26 and May 31, 2026, Strategy offloaded 32 BTC for approximately $2.5 million at an average price of roughly $77,135 per coin. It marked Strategy’s first Bitcoin sale since 2022.
From MicroStrategy to macro uncertainty The company rebranded from MicroStrategy to Strategy Inc. in August 2025, a name change intended to reflect its evolved focus on Bitcoin treasury management. The playbook was straightforward: issue equity, issue convertible notes, buy Bitcoin, repeat.
Strategy’s new framework tries to address liquidity concerns by creating flexibility. The company authorized up to $1 billion in share repurchases for both common and preferred stock, alongside the $1.25 billion Bitcoin sale authorization.
What this means for investors JPMorgan’s concern isn’t just about Strategy. If the most prominent corporate buyer starts becoming a seller, that creates structural implications for the institutional demand floor that retail investors and traders have leaned on.
The $1.25 billion authorization doesn’t mean Strategy will sell that much Bitcoin. Authorizations are ceilings, not commitments. But the mere existence of that ceiling changes how the market has to price risk.
The 6.3-month coverage window flagged by JPMorgan is particularly worth watching. If Bitcoin prices decline or if Strategy fails to raise additional capital through other channels, that window shrinks.
The $2.55 billion in current reserves does provide some breathing room. The restructuring looks more like a company trying to get ahead of potential problems rather than one scrambling to survive.
For Bitcoin investors specifically, the key metric to track is whether that 32 BTC sale in May was a one-time event or the beginning of a pattern. One small sale is noise. A series of sales totaling hundreds of millions would fundamentally alter the supply-demand dynamics that the market has been pricing in since Strategy began its accumulation campaign.
Disclosure: This article was edited by Editorial Team. For more information on how we create and review content, see our Editorial Policy.
US-based artificial intelligence data center company Hyperscale Data has announced the addition of 67 more Bitcoin to its reserves. With this latest purchase—which took place between June 30 and July 1—the company’s total Bitcoin holdings have now increased to 849 BTC. That makes Hyperscale Data the second most prominent public company acquiring Bitcoin in July, coming just behind Metaplanet.
Headquartered in Las Vegas, Hyperscale Data has moved up to 49th place among publicly traded companies holding Bitcoin, following its most recent acquisition. With this latest purchase, the company has surpassed Ming Shing Group, Yueda Digital Holdings, and SOS Limited in listed Bitcoin reserves.
The company’s management has positioned Bitcoin as a core asset on its balance sheet. Milton Todd Ault III, Executive Chairman of the Board, stated that Hyperscale Data plans to continue steadily accumulating Bitcoin via a disciplined dollar-cost averaging approach in order to maximize long-term returns for the company.
Milton Todd Ault III emphasized that the company aims to maintain its disciplined dollar-cost averaging strategy for Bitcoin acquisitions, as this approach is expected to strengthen Hyperscale Data’s long-term potential.
As an enterprise investing in AI-focused data center infrastructure, Hyperscale Data’s latest Bitcoin purchase comes right after a separate, recently announced addition of 53.54 BTC made just two days earlier. At the time of that statement, the company’s total reserves had climbed to 780.48 BTC.
Stock performance and asset valuation debateIn its announcement dated June 30, the company revealed that the combined value of its Bitcoin, cash, restricted cash, and silver assets was approximately $106.7 million. On that date, this figure amounted to roughly 117% of Hyperscale Data’s common stock market capitalization.
Milton Todd Ault III pointed to these figures as evidence that investors currently undervalue Hyperscale Data. He argued that the market cap of the company’s common shares does not fully reflect the value of its declared assets, operations, or the significant opportunity created by a major service contract at its Michigan-based AI data center.
Milton Todd Ault III stated that the company’s market capitalization does not accurately represent its reported assets, operations, or the scale of opportunities arising from the Michigan AI data center agreement.
According to Yahoo Finance, GPUS shares are trading at $0.1529, giving Hyperscale Data a market capitalization of $53.212 million. The company recently signed a computing power agreement with a California-based neocloud provider. Management projects this contract could generate up to $1.2 billion in revenue.
On the same day, Metaplanet also announced it had acquired 2,823 BTC as of July 1. This brought Metaplanet’s total Bitcoin holdings to 43,000 BTC, propelling the company to third place among public firms with the largest Bitcoin reserves—surpassing MARA Holdings.
Data from Bitcoin Treasuries shows that total Bitcoin held by public companies now stands at 1.268 million BTC, representing a 0.6% increase over the last 30 days. Despite this rise in holdings, the price of Bitcoin fell more than 10% in the same period. At a price of $61,809, the total value of public companies’ Bitcoin reserves stands at approximately $78.4 billion.
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.
Bitwise CIO Matt Hougan has said Bitcoin may be moving closer to a market bottom as Strategy’s STRC stress drains excess leverage from the market.
Summary
Bitwise CIO Matt Hougan says the STRC unwind could signal Bitcoin is nearing a market bottom. Hougan expects institutional investors to replace Strategy as the primary driver of Bitcoin demand. He believes the current deleveraging phase could pave the way for a new Bitcoin bull market this fall. Bitwise Chief Investment Officer Matt Hougan wrote in his latest weekly memo that the recent volatility in Strategy’s STRC preferred stock looks like a late-cycle unwind rather than a sign of more serious structural damage.
“The volatility in STRC is a natural and important part of the crypto cycle. I think we’re nearing the bottom.”
STRC stress has forced leverage out of Bitcoin STRC is a perpetual preferred stock created by Strategy to offer investors a high yield while keeping the instrument close to its $100 par value. Hougan said Strategy used the product to raise about $10.5 billion, with proceeds helping finance more Bitcoin purchases.
The trade weakened last week after Bitcoin and MSTR declined, sending STRC to roughly $75 and raising concerns over Strategy’s ability to keep funding preferred dividends. The company responded this week by increasing STRC’s annual dividend to 12%, authorizing up to $2 billion in common and preferred stock buybacks, and introducing a capital management framework that allows Bitcoin sales to strengthen reserves, meet dividend and debt obligations, and fund share repurchases.
According to Barron’s, STRC recently fell to a record low of $73.62 before Strategy increased the dividend and moved toward what it called active capital management. The report also said Strategy authorized up to $1.25 billion in Bitcoin sales to help strengthen reserves.
Hougan said the move means Strategy may no longer act as a one-way source of Bitcoin demand. “For years, Strategy has been the most dominant Bitcoin buyer in the world and a one way source of Bitcoin demand,” he wrote. “Those days are likely over.”
Institutions could lead the next Bitcoin rally Hougan does not expect Strategy to become a forced seller, saying the company still has enough assets to cover debt and preferred obligations. He argued Bitcoin would need to fall much further and stay depressed before Strategy faced serious balance sheet pressure.
Instead, Hougan expects the next cycle to depend more on institutions, including banks, asset managers, pension funds, endowments, sovereign wealth funds, and financial advisers.
The Bitwise CIO compared the STRC unwind with the collapse of the Grayscale Bitcoin Trust premium after the 2019 to 2021 bull market. In his view, both structures pulled capital into Bitcoin during strong markets before losing support and forcing a painful reset.
Meanwhile, Bitcoin briefly climbed above $62,000 after softer U.S. jobs data improved risk appetite. Reuters reported that the U.S. added 57,000 jobs in June, below expectations, while stocks rose and the dollar weakened as traders reduced expectations for Fed tightening.
Hougan said investors should watch for MSTR trading below the value of its Bitcoin holdings, extreme Crypto Fear and Greed Index readings, and negative funding rates. While he warned that bottoms are impossible to call in real time, he wrote that the STRC unwind suggests the market is entering the final stage of the cycle.
“I’m convinced the bottom is closer than ever,” Hougan wrote, adding that he expects a new Bitcoin bull market to begin in the fall.
Circle just published the official USDC method specification for the Machine Payments Protocol, and Stacks’ USDCx is the first stablecoin built under that framework. The move positions Bitcoin’s leading layer 2 as a hub for standardized machine-to-machine payments, the kind of infrastructure that makes AI agents capable of settling transactions on their own.
What USDCx actually is and how it works USDCx is a stablecoin pegged 1:1 to USDC, fully backed by reserves held in Circle’s xReserve infrastructure. It launched on Stacks mainnet on December 17-18, 2025, with a specific contract ID (SP120SBRBQJ00MCWS7TM5R8WJNTTKD5K0HFRC2CNE.usdcx) that anyone can verify on-chain.
USDCx doesn’t rely on third-party bridges to function. It connects directly with Circle Gateway and CCTP (Cross-Chain Transfer Protocol), which means moving value between chains doesn’t require trusting some random bridge operator with your funds.
The stablecoin maintains its peg near $1 and is actively traded on platforms tracked by CoinGecko. Ethereum bridging was already supported at launch, with plans to expand CCTP network support that kicked off in Q1 2026.
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The machine payments angle The MPP spec is where things get genuinely interesting. The Machine Payments Protocol establishes a standardized way for machines, think AI agents, automated services, and IoT devices, to send and receive payments without human intervention. The MPP spec was published by Circle on June 23, 2026.
USDCx being the first USDC-backed stablecoin under this spec means Stacks is effectively positioning itself as the settlement layer for AI commerce on Bitcoin. Cross-chain machine-to-machine payments on Bitcoin through Stacks are now technically possible.
Ecosystem adoption and DeFi implications Major wallets including Asigna, Fordefi, Leather, and Xverse all adopted USDCx shortly after launch. On the DeFi side, protocols like Zest and Granite integrated the stablecoin, enabling lending, borrowing, and trading with dollar liquidity on Stacks.
For Bitcoin holders specifically, USDCx creates an option that didn’t cleanly exist before: accessing stablecoin functionality without leaving the Bitcoin economy entirely. You can collateralize Bitcoin-backed assets, borrow against them in a dollar-denominated stablecoin, and do it all within an ecosystem that settles on Bitcoin through Stacks’ Proof of Transfer consensus mechanism.
Stacks uses PoX to anchor its security to Bitcoin’s blockchain, and runs Clarity smart contracts, a language designed to be decidable, meaning you can mathematically verify what a contract will do before executing it.
What this means for investors Institutional players care about two things above all else: compliance and security in cross-chain interactions. Circle’s direct involvement through xReserve and CCTP addresses both concerns in ways that third-party wrapped tokens simply cannot. The 1:1 USDC backing, verified through Circle’s own infrastructure rather than an independent bridge, reduces counterparty risk substantially.
Trading volumes and user growth across Stacks DeFi protocols will be the metrics to watch. If USDCx drives meaningful increases in total value locked and daily active users on platforms like Zest and Granite, it validates the thesis that Bitcoin users want native stablecoin liquidity.
The risk worth monitoring is concentration. USDCx’s entire value proposition depends on Circle’s continued support and the stability of the xReserve infrastructure. Any disruption to Circle’s operations, whether regulatory or technical, would cascade directly into USDCx’s functionality.
Disclosure: This article was edited by Editorial Team. For more information on how we create and review content, see our Editorial Policy.
Binance has announced that the number of blocks remaining until the next Bitcoin halving has dropped below 100,000, signaling a new milestone in the currency’s supply schedule. According to data from OKLink, there are currently 93,638 blocks left until the upcoming event on the Bitcoin network.
Halving timeline becomes clearerA Bitcoin halving takes place every 210,000 blocks, each time cutting the block reward miners receive by 50 percent. Current projections point to the next halving occurring around April 12, 2028. This marks an important transition in the network’s ongoing supply management, as the pace of new BTC creation continues to slow with each halving event.
The network’s latest milestone shows significant progress in Bitcoin’s cycle since the last halving. With issuance rates gradually decreasing as part of Bitcoin’s supply program, the amount of new BTC to be generated continues to shrink.
In a statement posted on its official X account, Binance confirmed that the number of blocks remaining until the next Bitcoin halving has now fallen below 100,000.
Majority of total supply in circulationCurrently, there are approximately 20.05 million Bitcoins in circulation, making up 95.47% of the maximum capped supply of 21 million BTC. As a result, only about 950,000 Bitcoin are expected to be mined over the next century as issuance slows further due to the protocol’s limitations.
Analysts estimate that the very last Bitcoin will not be mined until around the year 2140. Due to its code-driven fixed supply model, the Bitcoin network stands out as a unique system for predictable and deflationary currency issuance.
Price performance lags previous cyclesSince the last halving in April 2024, Bitcoin has lost roughly 3.1% in value, slipping from around $64,000 to below $62,000. After reaching an all-time high of approximately $126,000 in October 2025, the cryptocurrency has plunged more than 51% amid persistent selling pressure over the past several months.
Market observers note that, compared to earlier cycles, Bitcoin’s post-halving performance has been notably weak. Institutional outflows and waning risk appetite have pushed the price down as low as $57,717 on July 1.
Analysts highlight that Bitcoin has displayed a lower return trend after the halving compared to previous cycles.
Bounce follows macro data releaseIn the latest 24-hour period, Bitcoin rebounded by 5.22% to reach $61,715, with renewed buying momentum evident across the broader cryptocurrency market.
The rally was sparked by below-expectation labor data released from the United States. June’s nonfarm payrolls, seasonally adjusted, rose by 57,000 — far short of May’s 129,000 increase and well below the Dow Jones estimate of 115,000. These figures have fueled expectations that the US Federal Reserve may remain cautious about further interest rate hikes in the near term.
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.
XRP continues to consolidate in a narrow range on both USDT and Bitcoin-paired charts, with the broader trend still favoring the sellers.
However, the latest technical signals suggest downside momentum may be fading as the market defends key support while early signs of bullish divergence begin to emerge.
Ripple Price Analysis: The USDT Pair Against USDT, XRP remains confined within a well-defined descending channel, with the price trading below the 100-day and 200-day moving averages. This keeps the higher time frame structure bearish despite the recent stabilization.
The asset is currently holding around the $1.08 support area, which also coincides with a major horizontal demand zone. After the sharp sell-off in June, sellers have so far failed to extend the decline, allowing XRP to build a short-term base above support.
The RSI has formed a clear bullish divergence, printing higher lows while the price registered lower lows. This typically signals weakening bearish momentum and raises the probability of a relief rally if buyers manage to reclaim higher levels.
The first resistance lies around the $1.15 supply zone, while stronger resistance remains near the 100-day moving average around the $1.25 region. A recovery above these levels would improve the broader outlook, whereas losing the $1 support could expose the lower boundary of the channel near $0.80.
Source: TradingView The BTC Pair Against Bitcoin, XRP is also trading inside a long-term descending channel, reflecting persistent relative weakness. The pair remains below the major moving averages, indicating that the broader trend has yet to shift in favor of XRP.
Recently, XRP briefly broke below the key 1,700 sats low before quickly reclaiming it, creating what appears to be a fake breakdown. This rejection below support suggests sellers failed to maintain control and may have triggered a liquidity sweep before the price recovered back into the previous range.
Despite the recovery, the pair still faces immediate resistance around 1,850 sats, with a stronger supply zone located near 2,000 sats, where horizontal resistance converges with the declining 200-day moving average. A decisive move above these levels would strengthen the case for a broader recovery toward the upper boundary of the channel.
As long as XRP holds above 1,700 sats, the fake breakout scenario remains valid and could support additional upside. However, a confirmed daily close below this level would invalidate the bullish setup and likely open the door for another leg lower toward the critical 1,500 sats support area.
XRP price rebounded near $1.10 on Thursday, rising 5% in 24 hours as crypto markets recovered. Market value across digital assets increased 4.72% to $2.14 trillion. Meanwhile, oil fell below $68 after Qatar reported positive progress in indirect US-Iran talks in Doha. Bitcoin also reclaimed $61,000 after testing $58,000 earlier this week.
XRP Price Recovery Tracks Wider Crypto Rebound The XRP price remained at a point of over $1.10 as buyers came back to the broader crypto market. The relocation came after a challenging week, where traders had been keeping a close eye on macro headlines.
Bitcoin price climbed back above $60,000 a fueling the recovery trend. Ether price also surged past $1,600, further bolstering the broader recovery of significant tokens.
Concurrently, the market sentiment was slightly improved. The CMC Fear and Greed Index was going up to Extreme Fear of 16 to Fear 21.
In the case of XRP price, the momentum indicators also went up with price supported above the $1.06 area. Further gains can be favored by a stronger movement beyond the level of $1.10 provided that buyers are active.
US and Iran Conclude Positive Talks in Doha Indirect talks between the United States and Iran concluded Wednesday in Doha through Qatari mediation. Qatar said both sides made positive progress on issues linked to a memorandum of understanding.
The negotiations were also marked by technical discussions, and both parties were willing to engage further. That update alleviated part of the market anxieties related to tension in the region and risks associated with energy supply.
During the Doha update, oil prices fell to below $68, indicating reduced worry about potential supply disruption. This assisted in backing a wider relief initiative within risk assets, such as cryptocurrencies.
BREAKING: Oil has crashed below $68 after Qatar said Iran and the US made “positive progress” in indirect technical talks in Doha.
Oil is now down -43% from its US-IRAN war peak. pic.twitter.com/ArWurpyVjk
— Bull Theory (@BullTheoryio) July 2, 2026
Nevertheless, the negotiations failed to provide a conclusive deal and there was still some ambiguity. Iran kept threatening new attacks and Washington remained preoccupied with future nuclear talks.
Can XRP Price Buyers Trigger a Move Toward the $1.30 Target? The latest XRP price surged to $1.105, strengthening its four-hour recovery setup. The chart reveals that the buyers pushed the price higher above $1.10 after the broader $1.00 defense.
This recovery has now positioned XRP price at a significant test with the next major resistance of $1.15.
The MACD line has crossed the signal line, indicating a stronger short-term outlook. Meanwhile, the histogram is now positive, indicating an increased buying pressure. In the meantime, the RSI has already reached 65, which is close to a robust momentum area.
Source: XRP/USDT 4-hour chart: Tradingview XRP price is currently moving within an escalating short-term channel, which demonstrates better buyer control. The structure started around the $1.00 area, where traders were unable to stretch the fall.
Nonetheless, the recovery is yet to have a clean breakout beyond the level of $1.15 to affirm stronger momentum. Any successful move above that might shift the focus to the area of $1.20.
XRP is trading around $1.09 and sitting roughly 70% below its all-time high, but the math behind a potential $100 XRP price target is more straightforward than most people realise, and it has already been demonstrated by assets with remarkably similar properties. That is the main argument Zach Rector, an XRP analyst, laid out in a detailed breakdown.
The Comparable Assets
The starting point is simple. Critics who call $100 XRP impossible are asked one question: based on what? NVIDIA has already reached a $5 trillion market cap. Gold has reached $28 trillion. The U.S. dollar M2 money supply sits at $23 trillion. The precedent for assets reaching those valuations exists. The question is whether XRP has the properties to get there.
Rector argues it does. XRP shares the key characteristics of gold, including scarcity, fungibility, divisibility, durability and global accessibility, but adds something gold cannot offer: a functioning payment network.
You cannot build a tokenisation platform on gold. You cannot do decentralised lending and borrowing with gold. You cannot settle trillions of dollars in cross-border transactions daily using gold. XRP can do all of those things, which in Rector’s view gives it a utility ceiling that gold cannot match.
The Price Targets by Comparison
At a conservative 100 billion XRP circulating supply, reaching NVIDIA’s market cap produces a $50 XRP price. Matching the Japanese yen’s $8 trillion equivalent produces $80. Reaching the U.S. dollar M2 supply of $23 trillion produces $231. And matching gold’s current $28 trillion market cap produces $281 per XRP token.
Using the current circulating supply of approximately 62 billion coins rather than the conservative 100 billion figure, those numbers rise significantly, with the gold comparison pushing toward $452 per token.
The Market Cap Multiplier
The most compelling part of Rector’s analysis is not the price targets but the mechanism that makes them achievable without requiring trillions of dollars to flow directly into XRP.
The market cap multiplier measures how much the total market cap changes relative to the actual net inflow of capital. In November 2025, XRP lost $41 billion in market cap from only $808 million in net outflows, a 50x multiplier. During an eight-hour period in April 2025, XRP’s market cap grew by $7.74 billion from just $12.87 million in net inflows, a 601x multiplier.
What this means in practical terms is that XRP does not need $28 trillion in new money to reach gold’s market cap. At a conservative 50x multiplier, it would need approximately $198 billion in net inflows to reach a $10 trillion market cap and a $100 price. At a 100x multiplier, that drops to $99 billion. At 200x, less than $50 billion.
For context, Bitcoin ETFs alone attracted billions in inflows during their launch period. The numbers required are significant but not extraordinary by the standards of how global capital moves.
Story Ends Here
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XRP (CRYPTO: XRP) is up 5% in 24 hours, its strongest bounce since the June 15 short squeeze. The token is now challenging the year-long descending trendline dating back to the July 2025 $3.40 peak.
XRP ETFs Just Logged Their First Back-To-Back Outflows Since MarchU.S. spot XRP ETFs recorded $1.86 million in outflows on July 1, following a $2.83 million outflow on June 30, the first consecutive outflow days since March 9-10.
Despite those two days, the ninth straight week of XRP ETF flows remains net positive at roughly $10 million, extending what had been eight consecutive weeks of inflows. The outflows look like a blip rather than a trend reversal so far.
Derivatives Are Backing The Move With Real Money, Not Just Short CoveringOpen interest jumped 6.85% to $2.44 billion alongside a 29% volume spike, pointing to new longs entering rather than shorts closing.
Options volume exploded 81%, with traders actively buying calls on the bounce. Top traders on Binance sit long at a 2.94 ratio while the overall crowd remains nearly neutral at 1.07, leaving a large retail short base that could get squeezed if price holds above $1.10.
Meanwhile, spot netflow adds the most convincing signal. $9.06 million worth of XRP flowed off exchanges today, meaning holders are withdrawing rather than selling into the bounce, a sign of accumulation rather than distribution.
XRP Is Now Testing The Most Important Level Of The Entire DowntrendPrice has broken above the 20 EMA at $1.1044 for the first time in weeks and now tests the BB mid at $1.1137 at exactly the same level as the year-long descending trendline from July 2025’s $3.40 peak.
That trendline has rejected every meaningful rally attempt for eleven months.
A daily close above $1.1137 and the trendline targets $1.1895 then $1.2349. Rejection at the BB mid fades price back toward the $1 demand zone floor.
Image: Shutterstock
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Ripple President Monica Long has announced that the company’s long-term vision for the XRP Ledger (XRPL) extends beyond just cross-border payments, aiming for a broader role within the global financial infrastructure. Long stated that Ripple’s main priority is to establish XRPL as one of the foremost blockchains for enterprise payments and to expand the worldwide utility of both XRP and RLUSD.
Emphasis on Multi-Network Solutions in Enterprise PaymentsLong made these comments after Ripple joined over 140 other financial and technology companies in backing the OpenUSD initiative. According to Long, the future of global payments will be defined not by fragmented networks but by multi-chain, interoperable, enterprise-grade blockchain infrastructures that work seamlessly together.
Monica Long emphasized that Ripple’s focus is to position XRPL as the primary blockchain for enterprise payments, while also serving as a foundation for the next generation of regulated stablecoins.
She asserted that interoperability is essential for the institutional adoption of blockchain. With interoperable systems, banks, payment providers, and fintech firms can transfer value across different blockchain networks without compromising security, compliance, or efficiency.
Mini glossary: Interoperability refers to different blockchain networks conducting data and asset transfers through common standards. For enterprise use, this enables uninterrupted transaction flows between various systems.
Ripple’s Role in the OpenUSD InitiativeRipple has emerged as one of the prominent participants in the OpenUSD project. Led by a consortium, this stablecoin initiative brings together over 140 players from the industry with the shared goal of creating a more connected and efficient global payments ecosystem.
Ripple’s designation as an integration partner from the very start highlights its commitment to developing infrastructure that supports institutional adoption. This decision further solidifies the company’s position within the stablecoin environment.
Ripple highlights that stablecoins are transforming the way value is transferred and underlines that the key to institutional-scale growth is interoperability.
Complementary Roles for XRP and RLUSDRipple’s strategy aligns with its expanding ambitions in the stablecoin sector. RLUSD is designed not to replace XRP, but to serve as a complementary asset.
Accordingly, RLUSD will operate as a stable settlement asset in payment flows, while XRP will continue its role as bridge liquidity within the network. This dual approach aims to allow faster and lower-cost transfers within the XRPL ecosystem.
AssetAnticipated roleRLUSDStable settlement asset for paymentsXRPBridge liquidity asset within the networkNetwork Utilization and Future ProspectsRipple believes both RLUSD and XRP could benefit from increased network activity and transaction volumes if regulated stablecoins achieve wider adoption and if more institutions begin using tokenized assets on XRPL. The company sees this dual-asset approach as a way to further establish the XRP Ledger as a scalable platform for institutional finance, tokenization, and cross-border settlements.
Based in San Francisco, Ripple has long been recognized as a fintech firm developing digital asset-based payment infrastructures. The company’s latest messaging underscores a vision for global finance where regulated stablecoins, tokenized assets, and digital currencies move more smoothly across interconnected blockchain networks.
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.
If you spend any time in XRP circles on X or YouTube, you have seen the name Blockchain Backer. He is one of the most followed chart analysts in the XRP community, known for calm, cycle-based technical analysis in a corner of crypto famous for anything but calm. He is also anonymous, which raises fair questions. This guide covers who Blockchain Backer is, what he is known for, how his analysis works, and how to use it sensibly.
Blockchain Backer is an anonymous cryptocurrency analyst and content creator best known for technical chart analysis of XRP, Bitcoin, and the altcoin market. He publishes daily video analysis on his YouTube channel and shorter chart-based commentary on X under the handle @BCBacker, where he has grown to roughly 348,000 followers since joining in November 2019.
His public identity has never been revealed. What is known from his own profiles: he is based in the United States, describes himself as a “chart educator” and “XRP enthusiast,” and is open about personal details like being ten years sober. He explicitly states that he is not a financial advisor and that his content is educational, a framing he repeats across his channels.
That anonymity matters, and we will come back to it. But first, what made him prominent.
How Blockchain Backer became known Blockchain Backer built his reputation during the 2020 to 2021 bull run, when his chart-focused XRP videos found a large audience. The moment most often cited is an April 2021 call: he published analysis arguing XRP was on the verge of breaking out of a consolidation, backed by Fibonacci extension charts. XRP then rallied strongly within days, and the call spread widely across Reddit, Telegram, and crypto X, cementing his reputation among XRP holders.
Since then he has remained one of the most consistently followed voices in the XRP community, marking milestones like XRP’s return to all-time highs in 2025 and continuing daily coverage through the current cycle.
What his analysis actually looks like Blockchain Backer’s method is technical and cycle-based rather than news-driven. The recurring elements across his content are XRP price structures and historical cycle comparisons, Bitcoin market cycles and dominance trends, Fibonacci retracements and extensions, and identifying accumulation and capitulation phases. His argument style is to compare the current market to prior cycles, on the logic that history may not repeat but often rhymes.
Two things distinguish him from much of crypto content. First, the tone: measured and educational rather than hype-driven, which is part of his appeal in the famously noisy XRP space. Second, the balance: he mixes long-term bullish interest in XRP with explicit warnings about downside structures, rather than publishing only optimistic targets. For followers, that willingness to outline bearish scenarios is a meaningful credibility signal.
His content system spans free and paid tiers: public posts on X carry the headline idea, YouTube videos walk through the full charts, and he sells an educational course covering market cycles, TradingView tools, and exit-plan strategies for assets like Bitcoin, XRP, and Ethereum, along with premium written research on X.
The anonymity question Here is the honest part every reader should weigh. Blockchain Backer has never disclosed his identity, professional background, or credentials. That does not make him a scammer, and his long track record of published, timestamped analysis lets anyone verify how his calls aged. But it does mean you cannot evaluate his expertise the way you could a named analyst with a verifiable career.
The sensible framing, echoed by reviewers of crypto YouTube: treat analysis from anonymous creators with an extra layer of caution, judge the reasoning on its merits, and never outsource decisions to any single voice. Blockchain Backer himself reinforces this, repeatedly labeling his content “not financial advice” and encouraging viewers to do their own research.
How to use his analysis sensibly A few practical points for anyone following him. His analysis is cycle-based and often plays out over weeks or months, so a weekly bottoming structure can coexist with an ugly daily selloff; confusing timeframes is the most common way followers misread him. A post about accumulation is an educational thesis, not a buy signal, and your entries, position sizes, and exits remain your own responsibility. And as with any analyst, his calls are probabilistic: the famous 2021 breakout call worked, others have not, which is the nature of technical analysis.
Used that way, as one measured, chart-literate perspective among several, his content is genuinely educational, particularly for understanding how cycle analysis and Fibonacci tools are applied to XRP and Bitcoin.
Where to find Blockchain Backer His main platforms are X (@BCBacker) for daily chart commentary, his YouTube channel for full video analysis, and his website BCBacker.com for courses and educational material. Be aware that imitation accounts with near-identical handles exist on social platforms, a common problem for popular crypto analysts, so verify the handle before trusting any account claiming to be him, and be deeply skeptical of any account soliciting funds, which the real analyst does not do.
Bottom line Blockchain Backer is an anonymous, US-based crypto analyst who became one of the XRP community’s most followed voices through calm, cycle-based chart analysis, a famous 2021 breakout call, and a consistent educational tone across YouTube and X. His method centers on market cycles, Fibonacci tools, and historical comparisons, delivered with more balance than most of crypto social media.
He is worth following for chart education and a measured XRP perspective, with the standing caveats: he is anonymous, he is not a financial advisor by his own statement, and no single analyst, named or not, should drive your decisions. Watch the analysis, learn the method, and keep your own counsel.
FAQ Who is Blockchain Backer? Blockchain Backer is an anonymous US-based cryptocurrency analyst known for technical chart analysis of XRP, Bitcoin, and altcoins. He publishes daily videos on YouTube and chart commentary on X (@BCBacker), where he has about 348,000 followers, and describes his content as educational.
What is Blockchain Backer known for? He is best known for XRP market-cycle analysis using Fibonacci tools and historical comparisons, and for an April 2021 call that anticipated a major XRP breakout days before it happened. His measured, education-first tone in the volatile XRP space built his following.
Is Blockchain Backer a financial advisor? No. He explicitly states he is not a financial advisor and labels his content “not financial advice.” His material is educational chart analysis, and he encourages viewers to do their own research.
What is Blockchain Backer’s real name? His identity has never been publicly revealed. He is anonymous, which is common among crypto analysts but means his professional background cannot be verified. Followers should weigh his analysis on its published track record and reasoning.
Where can I follow Blockchain Backer? On X at @BCBacker, on his YouTube channel for daily video analysis, and at BCBacker.com for his educational courses. Watch out for imitation accounts with similar handles, and be skeptical of any account asking for funds.
Is Blockchain Backer reliable? He has a long, timestamped public track record, a balanced style that includes bearish warnings, and a widely cited successful 2021 call, but like all technical analysts, his calls are probabilistic and some have not worked. Treat his analysis as one educational perspective, not a signal service.
This article is for informational purposes only and does not constitute financial advice. Always do your own research before making investment decisions.
Ripple spent $1.25 billion to buy a prime broker that clears trillions of dollars a year, then wired it into the XRP Ledger and RLUSD. Here is what a prime broker actually does, what Ripple Prime offers, and whether any of it reaches XRP.
Summary
Ripple Prime is Ripple’s institutional prime brokerage arm, built from its $1.25 billion acquisition of Hidden Road, offering clearing, financing, and trading across digital assets, foreign exchange, derivatives, swaps, and fixed income. A prime broker is the plumbing behind professional trading: it gives hedge funds and trading firms one account for execution, clearing, settlement, financing, and custody, with cross-margining that improves capital efficiency. The acquisition made Ripple the first crypto company to own and operate a global, multi-asset prime broker, and the business has grown roughly threefold since the deal was announced. Ripple has wired its own products into the platform: RLUSD is used as collateral, some derivatives clients hold balances in it, and Ripple plans to move post-trade activity onto the XRP Ledger. For XRP the token, the benefit is indirect and unproven, because Ripple Prime is institutional infrastructure, not a retail venue, and the token has not tracked the platform’s growth. Table of Contents
First, what is a prime broker?From Hidden Road to Ripple Prime: the $1.25 billion dealWhat Ripple Prime actually doesRLUSD as collateral: the cross-margining hookThe XRP Ledger connectionWhy Ripple Prime matters for cryptoDoes Ripple Prime actually help XRP?The risks and open questions for Ripple PrimeFrequently Asked Questions Ripple Prime is Ripple’s institutional prime brokerage platform, a one-stop service that lets large trading firms clear, finance, and trade across both traditional and digital assets through a single account. It exists because in 2025 Ripple paid $1.25 billion to acquire Hidden Road, one of the largest non-bank prime brokers in the world, and rebranded it. That deal turned Ripple from a payments and stablecoin company into an operator of the kind of core market infrastructure that hedge funds and banks have relied on for decades. This explainer covers what a prime broker is, how Ripple Prime works, how Ripple has connected it to RLUSD and the XRP Ledger, and the honest answer to the question every XRP holder asks: does it help the token?
First, what is a prime broker? Before Ripple Prime makes sense, the underlying concept has to. A prime broker is a firm that sits behind professional trading operations and bundles together the services those operations need to function. In traditional finance, a hedge fund does not open a separate relationship with every exchange, lender, and custodian it uses. Instead it routes much of that activity through a prime broker, which provides trade execution and access to markets, clearing and settlement of those trades, financing and securities lending so the fund can use leverage, and custody of the assets. The prime broker becomes the single hub through which capital and positions flow.
The reason this matters is capital efficiency. A prime broker can look at all of a client’s positions together and net them, so the client posts collateral against the combined risk of the book instead of against each trade in isolation. This is called cross-margining, and it frees up capital that would otherwise sit idle backing individual positions. A fund running many strategies at once can therefore do more with the same balance sheet. Prime brokers also extend credit, letting clients borrow to amplify positions, and manage the risk of that credit in real time.
In short, prime brokers are the professional-grade infrastructure that makes large-scale, multi-strategy trading possible. They bring credibility, credit, and operational scale, the things institutions expect from legacy finance. For years, crypto largely lacked a prime broker of this caliber, which was one reason big institutions hesitated to trade digital assets at scale. Filling that gap is exactly what Ripple set out to do.
Ripple did not build a prime broker from scratch. It bought one. In April 2025, at Paris Blockchain Week, Ripple announced an agreement to acquire Hidden Road for $1.25 billion, one of the largest deals the digital-asset industry had seen. Hidden Road was a fast-growing non-bank prime broker that cleared roughly $3 trillion a year across markets and served more than 300 institutional clients, including hedge funds, proprietary trading firms, and major liquidity providers. Ripple had been an investor in Hidden Road and a customer of its platform, so it knew the business from the inside before buying it.
The acquisition closed in October 2025, and Hidden Road was immediately rebranded as Ripple Prime. The move made Ripple the first crypto company to own and operate a global, multi-asset prime broker, giving it a financing and clearing engine of a type that had previously belonged only to traditional financial firms. Ripple committed to inject significant capital into the business to expand its capacity, and by its own account the platform grew roughly threefold in activity between the announcement and the close. Hidden Road founder Marc Asch stayed on to work alongside Ripple leadership through the integration.
The strategic logic was that core infrastructure is what unlocks the next phase of institutional crypto adoption. Payments and custody move value and store it, but a prime broker is where institutions actually trade and finance positions at scale. By owning one, Ripple positioned itself to sit at the center of institutional digital-asset activity instead of at the edges, and to bring its own assets, XRP and the RLUSD stablecoin, into that flow.
What Ripple Prime actually does Ripple Prime offers the full prime-brokerage stack across an unusually broad range of markets. Its services span clearing, prime brokerage, and financing across foreign exchange, digital assets, precious metals, exchange-traded derivatives, over-the-counter swaps, and fixed income repo. Clients can access markets through over-the-counter desks, sponsored access, and direct market access, with real-time risk management, cross-margining across their positions, and risk-based margin financing. That breadth is the point: an institution can manage exposures across traditional and digital assets from one platform instead of stitching together many providers.
In November 2025, shortly after the deal closed, Ripple launched digital-asset spot prime brokerage for the United States market under the Ripple Prime brand. This let US-based institutional clients execute over-the-counter spot transactions across dozens of major digital assets, including XRP and RLUSD, and cross-margin those spot positions alongside swaps and exchange-listed futures and options. It combined Ripple’s regulatory licenses with Hidden Road’s prime-brokerage infrastructure into a single US offering, complementing the derivatives services the platform already ran.
The platform has kept adding connectivity. Ripple Prime enabled support for Hyperliquid, a high-performance decentralized derivatives protocol, letting institutional clients reach on-chain derivatives liquidity while cross-margining their decentralized-finance exposure against all other asset classes on the platform. That combination, a regulated institutional prime broker reaching directly into on-chain markets, is a concrete example of the bridge between traditional finance and decentralized finance that Ripple describes as its goal.
RLUSD as collateral: the cross-margining hook One of the most important features of Ripple Prime is how it uses RLUSD, Ripple’s dollar-backed stablecoin. RLUSD is being used as collateral across a range of prime-brokerage products, and Ripple has positioned it as the first stablecoin to enable efficient cross-margining between digital assets and traditional markets. In practice, an institution can post RLUSD as margin and have it recognized across both its crypto and its traditional exposures, which is exactly the kind of capital efficiency prime brokers exist to provide.
Adoption of this feature has been concrete instead of theoretical. Some derivatives customers have chosen to hold their balances in RLUSD, and Ripple expects that to grow. RLUSD has been approved as margin collateral on the OKX exchange across more than 280 trading pairs, and Ripple Prime clients can trade Bitcoin options on the Bullish exchange using RLUSD as collateral. To support the stablecoin’s institutional credibility, Bank of New York Mellon serves as the primary reserve custodian of RLUSD, a signal aimed squarely at the compliance expectations of large institutions.
The reason this matters is that it gives RLUSD a real institutional job to do. Many stablecoins circulate mostly among crypto traders; RLUSD, through Ripple Prime, is being embedded into the margin and settlement plumbing that professional firms use. That is a more durable form of demand than speculative trading, because it ties the stablecoin to the operational needs of institutions rather than to market sentiment. It is also the clearest way that Ripple Prime strengthens one of Ripple’s own products, as distinct from the broader industry.
The XRP Ledger connection Ripple has also linked Ripple Prime to the XRP Ledger, the blockchain whose native asset is XRP. The plan Ripple has described is to migrate parts of Hidden Road’s post-trade activity, the clearing and settlement that happens after a trade is agreed, onto the XRP Ledger. The goal is to streamline settlement and lower operational costs, while showcasing the ledger as institutional-grade infrastructure for decentralized finance. If that migration proceeds at scale, real institutional settlement volume would run across the XRP Ledger.
That connection took a further step through traditional clearing infrastructure. Ripple Prime, still listed under the Hidden Road name in the relevant notice, was integrated into the participant directory of the Depository Trust and Clearing Corporation’s National Securities Clearing Corporation, the backbone of US securities clearing. Ripple’s chief technology officer at the time flagged the development as significant, because it connects a crypto-owned prime broker to the same clearing rails that settle Wall Street’s equity trades. Ripple Prime also received an investment-grade rating from Kroll in April 2026, a distinction Ripple says no other crypto-affiliated prime broker holds, which opens the door to conservative institutions such as pension funds, banks, and insurers.
Taken together, these moves position the XRP Ledger and RLUSD as pieces of institutional market infrastructure instead of purely retail crypto assets. The migration of post-trade activity, the DTCC connection, and the investment-grade rating are all steps toward embedding Ripple’s technology into the machinery of regulated finance. Whether that machinery ends up generating meaningful demand for XRP the token is a separate question, and an important one.
Why Ripple Prime matters for crypto Zooming out, Ripple Prime matters because it imports a missing layer of financial infrastructure into digital assets. Crypto has never lacked exchanges or wallets, but it has lacked a large, credible, multi-asset prime broker of the kind institutions take for granted in traditional markets. By acquiring one that already cleared trillions of dollars a year and serving 300-plus institutional clients, Ripple gave the industry a bridge between the way hedge funds and banks already operate and the way digital assets trade and settle.
For Ripple itself, the deal marked a transformation. The company had been known primarily for cross-border payments and, more recently, for its RLUSD stablecoin and custody services. Ripple Prime added institutional trading and financing to that stack, so Ripple now spans payments, custody, a stablecoin, and a prime broker. That makes it one of the more vertically integrated firms in crypto, able to offer institutions a connected suite instead of a single product. It also gives Ripple multiple ways to weave XRP and RLUSD into institutional workflows.
The broader significance is about legitimacy. Institutional adoption of digital assets has been held back partly by the absence of familiar, trusted infrastructure. A prime broker with an investment-grade rating, a connection to DTCC clearing, and bank-grade custody speaks the language institutions understand. If Ripple Prime succeeds, it lowers a real barrier to large-scale institutional participation in crypto, which is a meaningful development regardless of what happens to any single token’s price.
Does Ripple Prime actually help XRP? Here is the question that matters most to XRP holders, and it deserves a straight answer instead of a hopeful one. The connection between Ripple Prime and XRP is infrastructure-driven, not retail-facing. Ripple Prime is a service for institutions; it does not change how ordinary users buy or trade XRP, which still happens on exchanges. The potential benefit to XRP is indirect: if institutional settlement volume grows on the XRP Ledger through Ripple Prime, that could raise network usage, and XRP, as the ledger’s native asset used for transaction fees and liquidity, might see more demand over time.
The trouble is that this benefit has not shown up in the token’s price. Over the year following the acquisition, Ripple Prime delivered on its roadmap, earning an investment-grade rating, launching US spot prime brokerage, and integrating RLUSD as collateral, while XRP fell rather than rose. The token dropped sharply even as the platform executed, which underlines a recurring pattern with Ripple news: the company’s commercial progress and the token’s price are only loosely connected. Much of the value Ripple Prime creates accrues to Ripple the company, to RLUSD, and to the institutions using the platform, not automatically to XRP.
That does not mean Ripple Prime is irrelevant to XRP. The post-trade migration to the XRP Ledger, if it reaches scale, is a genuine potential channel of demand, and a maturing institutional ecosystem around the ledger could matter over a long horizon. But the honest framing is that Ripple Prime is a strong development for Ripple and its institutional ambitions, an indirect and unproven one for XRP, and no substitute for the broad demand that actually moves the token. As with most Ripple news, the wise approach is to separate the company’s execution from the token’s price and to watch for real ledger usage rather than announcements.
The risks and open questions for Ripple Prime For all its promise, Ripple Prime is not a finished story, and a balanced view has to weigh what could go wrong or fail to materialize. The first question is integration. Merging a large prime broker into a crypto company is complex, and the value of the deal depends on combining Hidden Road’s infrastructure and client relationships with Ripple’s licenses, custody, and stablecoin without friction. Integrations of this size take time, and the benefits Ripple describes assume the two businesses knit together smoothly.
Prime brokerage itself carries inherent risks that Ripple now owns. A prime broker extends credit and holds client assets, which means it takes on counterparty and credit risk: if a large client fails or a market move is violent enough, the broker can be exposed. Managing that risk in real time is the core discipline of the business, and it is why prime brokers live or die on their risk engines and capital buffers. The business is also cyclical, tied to trading volumes and market conditions that rise and fall, so revenue is not guaranteed to grow in a straight line.
Competition is intensifying as well. Other crypto-native firms and incumbent traditional players are building or expanding their own institutional prime services, so Ripple Prime has to win and keep clients in a crowded field. Its differentiators, an investment-grade rating, a connection to traditional clearing, and the integration of RLUSD, are meaningful, but competitors will not stand still, and institutions can multi-home across several prime brokers.
The largest open question for XRP holders specifically is execution on the XRP Ledger. Ripple has said it plans to migrate post-trade activity onto the ledger, but plans and delivery are different things. The scale, timing, and real economic impact of that migration remain to be seen, and much of the token-level thesis rests on it actually happening at volume. Until the ledger is carrying meaningful institutional settlement, the connection between Ripple Prime’s growth and XRP demand stays more potential than proven. None of this makes Ripple Prime a weak business; it makes it a young one whose full impact, on Ripple and on XRP, will be judged over years, not announcements.
Frequently Asked Questions What is Ripple Prime in simple terms? Ripple Prime is Ripple’s institutional prime brokerage platform. It gives large trading firms and institutions a single service for clearing, financing, and trading across digital assets, foreign exchange, derivatives, swaps, and fixed income. It was created when Ripple acquired the prime broker Hidden Road for $1.25 billion in 2025 and rebranded it. It is built for professional institutions, not retail traders.
What is a prime broker? A prime broker is a firm that bundles the services professional traders need into one relationship: trade execution and market access, clearing and settlement, financing and lending for leverage, and custody. Its key advantage is cross-margining, which lets a client post collateral against the combined risk of all their positions instead of each trade separately, freeing up capital and improving efficiency.
How much did Ripple pay for Hidden Road? Ripple agreed to acquire Hidden Road for $1.25 billion, announced in April 2025 and closed in October 2025. Hidden Road was a non-bank prime broker that cleared roughly $3 trillion a year across markets and served more than 300 institutional clients. After closing, Ripple rebranded it as Ripple Prime, becoming the first crypto company to own and operate a global, multi-asset prime broker.
How does Ripple Prime use RLUSD? RLUSD, Ripple’s dollar-backed stablecoin, is used as collateral across Ripple Prime’s products, positioned as the first stablecoin to enable cross-margining between digital assets and traditional markets. Some derivatives clients hold balances in RLUSD, it is approved as margin collateral on OKX across 280-plus pairs, and Ripple Prime clients can trade Bitcoin options on Bullish using RLUSD. Bank of New York Mellon is its primary reserve custodian.
Does Ripple Prime run on the XRP Ledger? Not entirely, but Ripple plans to migrate parts of the platform’s post-trade activity, its clearing and settlement, onto the XRP Ledger to lower costs and showcase the ledger for institutional use. Ripple Prime has also been integrated into the DTCC’s securities clearing directory and received an investment-grade rating from Kroll, steps that position the ledger and RLUSD within regulated financial infrastructure.
Is Ripple Prime good for the XRP price? The benefit to XRP is indirect and, so far, unproven. Ripple Prime is institutional infrastructure, not a retail venue, so it does not change how people trade XRP. If settlement volume grows on the XRP Ledger through the platform, XRP demand could rise over time. But XRP fell during the year Ripple Prime executed its roadmap, showing how loosely Ripple’s progress and the token’s price are connected.
How is Ripple Prime different from a crypto exchange? An exchange is a venue where users, including retail traders, buy and sell assets directly. A prime broker sits behind professional institutions, providing credit, clearing, settlement, custody, and cross-margining across many venues and asset classes. Ripple Prime serves hedge funds, trading firms, and other institutions with portfolio-level financing and risk management, not everyday retail trading. The two operate at different layers of the market.
Why does Ripple Prime matter for crypto? It imports a missing layer of financial infrastructure into digital assets. Institutions rely on prime brokers in traditional markets, and crypto had lacked a large, credible one. By acquiring Hidden Road, Ripple gave the industry an investment-grade prime broker connected to traditional clearing rails and bank-grade custody, lowering a real barrier to institutional participation and transforming Ripple into a firm spanning payments, custody, a stablecoin, and prime brokerage.
Disclaimer: This article is for information and educational purposes only and does not constitute financial, investment, or trading advice. Details of Ripple Prime’s services and integrations may change over time. Nothing here is a recommendation to buy or sell any asset. Always do your own research and consult a qualified professional before making financial decisions. Information is accurate as of July 2, 2026, and may change.
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.
A mass liquidation of short positions has taken place on the cryptocurrency market. XRP’s long lull in the $1.02 to $1.06 range pushed bears to open large leveraged trades, but a sharp upward price impulse completely destroyed their plans.
The surge in activity amid the broader market rally led to the forced closure of margin positions worth more than $634 million across the entire crypto market over the past 24 hours. Against this backdrop, a strong imbalance emerged, as the lion’s share of total market losses — around 73% — fell specifically on short sellers, according to CoinGlass.
Liquidation heatmap over the 24 hours, Source: CoinGlassWithin the XRP ecosystem, the situation was even more one-sided: bears accounted for almost 80.6% of all local losses on the coin. Despite the liquidation wave that has already passed, the main point of maximum pain for large XRP sellers still remains above current values — at $1.30953, where $5.79 million in capital is concentrated.
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The path to $1.30: XRP key levels to watch nowNevertheless, the current price surge to $1.0829 has already reduced the distance to this critical mark to 20.93%, directly matching the breakout momentum and putting short sellers within the critical 20% threshold of their ultimate max pain zone. This rapid shift was enough to trigger the first protective stop orders at intermediate levels.
Technically, the breakout of the key resistance level at $1.0525 pushed XRP asset to its current values, but overbought indicators are already signaling local overheating. This suggests that the upward impulse has temporarily exhausted itself at this point, and buyers need a pause.
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Since the first wave of liquidations has been completed, the market needs short-term consolidation. The most likely scenario for the coming hours is a slight pullback toward the previous resistance level near $1.065 for XRP, with the aim of testing it as reliable support.
If this level holds, the asset will gain a strong foothold for a further medium-term move toward its main target at $1.30953.
Ripple (XRP) grinds higher on Thursday, trading above $1.07. This comes after the remittance token tested support at $1.03 amid heavy selling pressure that has dominated the crypto market in recent weeks.
Investors are showing fresh interest in risk assets amid reports that the just-concluded talks between the United States (US) and Iran yielded “positive progress” in Doha. According to Qatari mediators, progress was made on issues related to the Memorandum of Understanding (MoU), and both parties agreed to continue discussions.
XRP sustains capital outflowsInstitutional interest in XRP remains on the back foot, as evidenced by a two-day bearish streak. SoSoValue data show nearly $2 million in mild outflows on Wednesday, following roughly $3 million on Tuesday. Sustained outflow suggests that risk-averse sentiment is dominant, which may cap XRP’s ongoing rebound in the short term.
XRP ETF flows | Source: SoSoValueRetail demand continues to diminish, with futures Open Interest (OI) falling to $2.29 billion on Thursday, from $2.31 billion the day before. A broader scope cements a lack of investor confidence in XRP’s short to medium-term outlook. In other words, bears are willing to pay a premium to keep shorting XRP while bulls shun opening new long positions.
XRP Futures OI | Source: CoinGlassPrice analysis: XRP builds momentum for short-term breakoutXRP trades at $1.07, extending its recovery from support testes at $1.03. Despite the upswing, the token appears to maintain a bearish near-term bias as the price remains below the key Exponential Moving Averages (EMAs). The 50-day EMA at $1.19, the 100-period EMA at $1.30 and the 200-day EMA at $1.52 all sit overhead as dynamic resistance, reinforcing the broader downside structure.
XRP also hovers beneath the Bollinger Bands' middle boundary at $1.11, while the potential trendline break area around $1.22 adds another cap on recovery attempts.
Momentum is mixed, with the Relative Strength Index (RSI) above 40 on the daily chart still below the neutral 50 line even as the Moving Average Convergence Divergence (MACD) histogram turns marginally positive, hinting at a modest improvement in short-term pressure.
XRP/USDT daily chartInitial resistance lies at the Bollinger middle band at $1.11, followed by the 50-day EMA near $1.19 and the downward trendline region around $1.22. A stronger bullish extension would need a daily close above the Bollinger upper band at $1.24 to target the 100-day EMA at $1.30, with the 200-day EMA at $1.52 acting as a more distant structural ceiling.
On the flip side, the Bollinger lower band at $0.99 stands as the next notable support likely to attract fresh interest from buyers.
(The technical analysis of this story was written with the help of an AI tool.)
Open Interest, funding rate FAQs Higher Open Interest is associated with higher liquidity and new capital inflow to the market. This is considered the equivalent of increase in efficiency and the ongoing trend continues. When Open Interest decreases, it is considered a sign of liquidation in the market, investors are leaving and the overall demand for an asset is on a decline, fueling a bearish sentiment among investors.
Funding fees bridge the difference between spot prices and prices of futures contracts of an asset by increasing liquidation risks faced by traders. A consistently high and positive funding rate implies there is a bullish sentiment among market participants and there is an expectation of a price hike. A consistently negative funding rate for an asset implies a bearish sentiment, indicating that traders expect the cryptocurrency’s price to fall and a bearish trend reversal is likely to occur.
Ripple’s dollar-pegged stablecoin, RLUSD, is migrating to the XRP Ledger (XRPL) at a remarkable pace, with on-chain volume surging 40-fold over the last six months alone.
Cover image via www.freepik.com
Ripple's dollar-pegged stablecoin, RLUSD, keeps migrating to the native chain of the XRP cryptocurrency (at a rather remarkable pace).
According to recent on-chain data, the volume of RLUSD circulating on the XRP Ledger has surged 40-fold over the last six months alone.
A significant majority of Ripple's stablecoin used to reside on the Ethereum blockchain, and this fact would be constantly brought up by XRP detractors to showcase the alleged lack of utility of the cryptocurrency's native chain. This trend was rather lasting, given that only 17% of all RLUSD in circulation was sitting on the XRP Ledger as recently as April.
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However, the XRPL's share of the total supply has grown dramatically over the past few months. Now, the figure has skyrocketed to as much as 52%, which gives the XRPL a majority share of the total supply for the first time.
More competition As reported by U.Today, Ripple recently joined an unprecedented coalition of more than 140 financial and technological heavyweights, of the likes of Mastercard and BlackRock, to back "Open USD," which is a new US dollar-pegged stablecoin.
The consortium positions Open USD as a shared, highly efficient utility for global payments.
However, Ripple's participation has raised some eyebrows, given that it has its own heavily regulated stablecoin.
For Ripple, participating in the highly ambitious Open USD initiative ensures the company remains at the center of global liquidity flows, but it remains to be seen how RLUSD will be able to compete with this new upstart.
According to CoinGecko data, Tether (USDT) remains the biggest stablecoin with a market cap of $184 billion.
Bitcoin (CRYPTO: BTC) could be approaching the final phase of its current bear market, with historical cycle analysis suggesting a bottom within the next few months.
Late October Bear Market LowIn a Cantor Fitzgerald report on June 30, analysts led by Gareth Gacetta highlighted that Bitcoin was 252 days past from its late-2025 peak and had declined about 51% as of June 10.
Across the previous three market cycles, Bitcoin bottomed an average of 384 days after reaching its cycle high.
If the historical pattern repeats, Cantor estimates the current bear market could reach its low around late October.
The analysts cautioned that the framework should not be viewed as a precise market-timing tool. Regulatory developments, macroeconomic conditions and geopolitical events could alter the trajectory, reported CoinDesk
However, they argued crypto markets often become self-reinforcing as investors anchor expectations around historical cycles.
Bitcoin, Ethereum Lead Preferred NetworksCantor identified Hyperliquid (CRYPTO: HYPE) as one of the strongest examples of fee-driven token economics through its buyback-and-burn model.
The bank continues to view Bitcoin as the benchmark monetary asset within digital assets, while Ethereum (CRYPTO: ETH) remains the dominant collateral layer supporting decentralized finance.
Image: Shutterstock
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As RLUSD continues to see growing adoption, its supply across the crypto ecosystem has also continued to expand, especially on the XRP Ledger.
Recent data shared by an XRP-focused treasury firm shows that RLUSD has crossed a major milestone on the XRP Ledger as the Ripple-issued stablecoin continues to gain traction.
RLUSD shifts to XRP LedgerNotably, the on-chain data showcased by the firm shows that more than half of RLUSD's total circulating supply is now on the network, suggesting the stablecoin is increasingly being used on the XRP Ledger.
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It revealed that about 52% of all RLUSD in circulation is now on the network, marking a substantial increase from the 17% recorded as recently as April 2025.
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While the surge suggests that RLUSD is increasingly becoming more available on the XRP Ledger, the network has become its major hub for liquidity management and trading.
Meanwhile, the case has been the opposite for Ethereum, as the data further showed that the supply of RLUSD on Ethereum has declined from its February high of around $1.24 billion to about $700 million.
While Ethereum holds the remaining 48% of the total RLUSD in circulation, it appears that XRP Ledger is rapidly outperforming Ethereum as the dominant network for RLUSD issuance.
RLUSD trading volume on XRPL soarsThe firm confirmed that the surge in RLUSD trading activity has largely contributed to XRP's network growth, rather than replacing the altcoin.
It noted that every RLUSD transaction on XRPL ultimately becomes an XRP activity, as they typically generate network fees in XRP.
This is more evident in the RLUSD/XRP trading pair, as this alone has processed about $900 million in volume over the last six months, accounting for nearly 90% of all RLUSD trading activity on the network.
Following this surge in activity, RLUSD has emerged as one of the most actively traded assets on the XRP Ledger.
Recent momentum in the XRP price has prompted a wave of optimistic technical signals, suggesting a possible shift in the market. Market commentator Crypto With Gopal has pointed to the emergence of a classic falling wedge pattern on the four-hour chart, a formation that typically raises the probability of an upward reversal.
Key short-term resistance zoneDespite a recent sequence of lower highs and lower lows, there are early signs that selling pressure within the narrowing price range is beginning to lose steam. Buyers have consistently defended the lower trendline of the wedge, signaling that accumulating interest is providing gradual support at lower levels.
At this stage, the most critical level being monitored is the upper resistance line of the falling wedge. A decisive breakout above this line, backed by robust trading volumes, could confirm the bullish reversal and pave the way for a new upward move. Conversely, if the price loses the lower trendline, it would invalidate the current technical setup.
Crypto With Gopal notes that a breakout of the falling wedge on the XRP four-hour chart, especially with significant volume, could accelerate upward momentum.
Market data also supports the potential for a short-term recovery. According to CoinCodex figures, XRP has once again moved above the closely watched psychological threshold of $1.10. Maintaining this level may help sustain buying interest and reinforce the positive price outlook, provided demand holds up. CoinCodex is a market analytics platform known for its digital asset pricing and forecasting data.
Monthly RSI indicator draws attentionFrom a longer-term perspective, the Relative Strength Index (RSI) indicator highlighted by analyst EGRAG CRYPTO has become a focal point. EGRAG CRYPTO observes that XRP’s monthly RSI has dropped into the deepest oversold territory in its history, falling below the 42, 41, and 40 marks.
Glossary: The RSI is a technical indicator that measures the speed and strength of a price move. While low values often signal weak momentum, a bottoming RSI that starts to recover can increase expectations for a trend reversal.
Although such low RSI readings are typically seen during periods of heavy selling, historical data shows that these levels often precede major price reversals once momentum turns. EGRAG CRYPTO believes the RSI is starting to flatten at these low levels, which could indicate fading bearish pressure.
EGRAG CRYPTO argues that if the monthly RSI gradually recovers to retake the 40, 42, 46.5, and 47.8 bands—and later rises above 50—it would provide strong confirmation of renewed bullish momentum.
Ripple’s long-term plans add supportThe analyst also notes that while XRP’s price could create another lower low, a contrasting higher low on the RSI would produce classic bullish divergence. This long-term signal is often associated with major market bottoms.
Beyond the charts, Ripple’s institutional ambitions continue to bolster the longer-term picture. Ripple President Monica Long reaffirmed the company’s goal to make the XRP Ledger a leading blockchain infrastructure for enterprise payments. She also emphasized the focus on accelerating global adoption of both XRP and RLUSD. Ripple operates as a US-based financial technology firm specializing in cross-border payment solutions.
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.
The XRP community has been warned of a fake OUSD stablecoin scam on the XRP Ledger. This comes as on the XRPL, a suspicious wallet claiming to be the new stablecoin Open USD (OUSD) has emerged. It is a cause for concern among validators, who suspect it is a scam.
XRP Ledger Validators Flag OUSD Scam On The Network GrimmReaper, who is a validator operator on the XRP Ledger, posted a screenshot of his transaction-monitoring tool on Bithomp. The snapshot shows a page name that he detected was a new issuer using the “Open Standard” name and this triggered the alert.
Moreover, they have a website linked to their account: joinopenstandard.netlify.app. They also have an XRP Ledger address that has been recently activated.
There are also several red flags on the Bithomp screenshot that typically accompany crypto scams. The ads above the account promote “Earn 12% on XRP” and “Play Slots and win 70,000 XRP” and are typical of those that attract unwary players to bogus schemes.
Sharing the image on X, GrimmReaper wrote, “We might have our answer about OUSD being on the xrpl if this is legit. What do you guys think, Krippenreiter and Vet?” He added that he runs a tool monitoring transactions received by his validator.
He explained, “I have an app that [watches] my transactions coming into my validator and [makes] it very able to watch for any issuer for a token name so this came up today.”
We might have our answer about OUSD being on the xrpl if this is legit. What do you guys think @krippenreiter and @Vet_X0 ? I have an app that watched my transactions coming into my validator and made it very able to watch for any issuer for a token name so this came up today. pic.twitter.com/tdxgl6KHsq
— GrimmReaper (@jgrimm5) July 2, 2026
However, XRPL dUNL validator Vet responded by urging the community not to trust the issuer.
“[It’s] a scam and always is a scam by default until you get people to confirm from Open USD that this is their issuer,” Vet responded. The XRP Ledger validator also said that he is a valid issuer and they should have verifiable confirmation from both parties, but here they don’t. Vet added, “We always need a 2 way pointer. Issuer address points to Project and Project points to Issuer address. This is not the case here.”
Already, the XRPL v3.2.0 upgrade is registering complaints of several bugs. Hence, such potential scams seem to be exacerbating the situation.
About The OUSD Stablecoin Launch The XRP Ledger validators’ warning comes on the heels of OUSD Stablecoin launch on June 30 by the Open Standard consortium. It boasts backing from over 140 companies, including Ripple, Visa, Mastercard, BNY, Standard Chartered, BlackRock, Google, Shopify, Coinbase and Solana.
The consortium claims that OUSD will allow businesses to mint and redeem the stablecoin without any fees or set volume limits. It also will return money generated from reserves to partners participating in the consortium with a small management fee. Moreover, it will have governance shared by each partner in the consortium.
The announcement has garnered attention in the XRP ecosystem, as Ripple is among the founding participants. This could have made OUSD a potential target for bad actors to take advantage of by using fake issuer accounts on the XRP Ledger.
Ethereum is having a tough time at the moment, with sentiment at rock bottom, but underlying supply dynamics paint a different picture.
Ethereum has a “wall of worry” where negative sentiment is meeting staking absorption, reported CryptoQuant on Tuesday.
The Coinbase Premium, a measure of institutional interest, is 230% below its three-month average, while Binance funding rates are deeply negative, signaling caution from US institutions and leveraged traders, it added.
Despite this wall of negativity, ETH’s price has stayed stable over the past week rather than breaking down.
ETH Staking Hits Record 40M Meanwhile, the Ether supply is tightening as stablecoin balances on Binance are draining while staking inflows have surged 65%, “suggesting long-term holders are locking up supply even as short-term traders de-risk,” it stated.
“While traders are shorting or de-risking on Binance, long-term holders are actively locking supply into the staking contract.”
This combination of deep pessimism and a shrinking liquid/exchange supply is a classic pattern, which historically creates fragile conditions for short traders if selling pressure exhausts.
The analysts concluded that monitoring the reversal of the Coinbase Premium will be the primary signal for a shift in this regime.
Ethereum’s Wall of Worry: Negative Sentiment Meets Staking Absorption
“Historically, when speculative sentiment is this depressed while organic supply is being absorbed by staking, it creates a fragile environment for short-sellers.” – By @CryptoOnchain pic.twitter.com/C8XO4Omlmp
— CryptoQuant.com (@cryptoquant_com) June 30, 2026
You may also like: Ethereum Execs Launch Non-Profit to Accelerate Institutional Adoption Bitmine Buys Another 27,000 ETH Despite Market Slump, Nears 5% of Ethereum Supply ‘Engineers, Not Business Operators’: Why Loopring Is Shutting Down Its DEX The staking figures speak for themselves, with a record amount of ETH off the table and locked up.
ETH staking has hit an all-time high of 40 million, which equates to 33% of the entire supply, according to Ultrasound.Money.
Additionally, the validator exit queue is just 9,248 ETH, while more than 2.9 million ETH are in the entry queue.
Bitmine chair Tom Lee said that crypto is a hyper-volatile asset, and some macro headwinds are weighing on ETH, such as markets seeing a Fed hike, Clarity Act purgatory, AI FOMO, and private credit hurting flows.
However, there are also some tailwinds, including the tokenization megatrend, crypto downstream of AI, money becoming digital/software, and peak pain, he said in a recent interview.
ETH Price Outlook Despite these tailwinds, ETH prices remain depressed, with the asset dipping to an intraday low of $1,550 on Tuesday.
There was little momentum during Wednesday morning Asian trading, with ETH lifting to $1,585. The longer it stays at current levels, the greater the chances of another leg down, especially if Bitcoin loses support at $58,000.
A new nonprofit backed by Ethereum co-founder Joseph Lubin and top ETH treasury firms aims to give Wall Street a dedicated point of contact as the Ethereum Foundation narrows its role.
Posted July 2, 2026 at 6:54 am EST.
A new independent nonprofit called Ethereum Institutional launched Wednesday with the goal of accelerating institutional adoption of Ethereum, its layer-2 networks, and the broader ecosystem. The organization aims to give banks, asset managers, and other enterprises a “credible, independent front door” as they evaluate Ethereum for tokenization, stablecoins, and other onchain financial infrastructure.
The group is led by David Walsh, Marius Smith, and Matthew Dawson, with Walsh having previously headed the Ethereum Foundation’s enterprise efforts. It launched with backing from BitMine Immersion Technologies and Nasdaq-listed SharpLink Gaming, Ethereum’s two largest publicly traded treasury firms, along with Ethereum co-founder Joseph Lubin, who anchored funding alongside dozens of other individual and institutional contributors.
This story is an excerpt from the Unchained Daily newsletter.
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The launch reflects a broader restructuring of who speaks for Ethereum. The Ethereum Foundation has narrowed its focus toward stewarding the core protocol after a turbulent stretch that included nine senior staff departures this year and a sweeping restructuring that eliminated 54 positions and cut its budget by 40%. Ethereum Institutional is now the second independent nonprofit to launch in as many weeks, following EthLabs, a research and development organization backed by many of the same donors.
The response from the ecosystem was largely positive. Standard Chartered told CoinDesk the initiative addresses a “longstanding communications gap” between Ethereum and major financial institutions. Bitwise CIO Matt Hougan on X called it an example of “a decentralized system [healing] itself.”
Related Listen: How the New Ethlabs Plans to Make Ethereum More Intentional in Designing ETH
AI-assisted content: This article was produced with the assistance of AI tools and was reviewed, edited, and fact-checked by a member of the Unchained editorial team before publication.
Ethereum Price Prediction: Lubin, Bitmine, and Sharplink Launch Independent Non-Profit Institution to Bring Institutional Wealth Onchain Ethereum (ETH)
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Ethereum price is trading near $1,650, remaining below its major moving averages and preserving a bearish prediction. However, the biggest story this week is not the chart. Instead, Bitmine and SharpLink are betting that institutional Ethereum adoption could accelerate well before the price reflects it.
Ethereum Institutional has launched as an independent non-profit focused on institutional engagement. Backed by Bitmine, SharpLink, and Ethereum co-founder Joe Lubin, it formalizes outreach previously handled within the Ethereum Foundation. The organization will focus on institutional education, market intelligence, ETH marketing, standards, and global events.
1/ Announcing Ethereum Institutional
An independent non-profit dedicated to accelerating the institutional adoption of Ethereum, its L2s, applications and overall ecosystem. pic.twitter.com/XUeViH6rrq
— Ethereum Institutional (@ethereuminsti) July 1, 2026 Its leadership includes Thomas Lee as chairman, Joseph Chalom, and Executive Director David Walsh, and the operations have already spanned to New York, London, Hong Kong, Singapore, Zurich, Frankfurt, Tokyo, and Abu Dhabi, giving the organization an international presence from launch.
The timing reflects Ethereum’s growing role in institutional finance. The network secures roughly 60% of the stablecoin supply and about two-thirds of tokenized real-world assets. Ethereum Institutional aims to strengthen relationships with financial firms before competing blockchain networks gain market share.
Discover: The Best Crypto to Diversify Your Portfolio
Ethereum Price Prediction: $1,750 or $2,000ETH is recovering at $1,650, trading below its 20-, 50-, and 100-day EMAs. That setup keeps the near-term trend bearish. Meanwhile, the RSI sits around 43, while the Stochastic oscillator remains neutral, suggesting selling pressure has eased without confirming a reversal.
At the same time, spot Ether ETFs have recorded persistent outflows since mid-June, limiting buying momentum. As a result, recent rallies have faded near resistance. Institutional interest remains intact, but it has yet to translate into sustained price strength.
Don’t Miss Out on Our $1,000 USDT Airdrop on ByBit
The first resistance sits near the 20-day EMA around $1,670, followed by the $1,750 level that traders continue to monitor. Above that, the 50-day EMA near $1,870 becomes the next key hurdle. On the downside, support rests around $1,520, followed by $1,400 and $1,150 if selling pressure intensifies.
A bullish scenario requires ETH to reclaim the 20-day EMA and break above $1,750 with strong volume. Otherwise, the base case remains range-bound trading between $1,520 and $1,670. If support near $1,500 fails, ETH could revisit lower levels before establishing a stronger recovery.
Discover: The Best Token Presales
LiquidChain Targets Early-Mover Upside as Ethereum Tests Key LevelsETH at $1,650 with stacked resistance overhead and ETF outflows still unresolved means the upside for spot holders is capped in the near term, even with the institutional narrative firmly in place. Traders looking for asymmetric exposure to the same Ethereum-adjacent infrastructure thesis are eyeing early-stage infrastructure plays where the entry math still works.
LiquidChain ($LIQUID) is a Layer 3 infrastructure project positioning itself as the cross-chain liquidity layer, fusing Bitcoin, Ethereum, and Solana liquidity into a single execution environment.
The architecture centers on a Unified Liquidity Layer, Single-Step Execution, Verifiable Settlement, and a Deploy-Once structure that lets developers build once and access all three ecosystems simultaneously. The project has already drawn attention as a direct infrastructure beneficiary of the multi-chain institutional expansion that entities like Ethereum Institutional are accelerating.
As of now, its presale is currently priced at $0.01475, with $880K raised to date.
Research LiquidChain here.
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The cryptocurrency market broadly rises on Thursday, reflecting improvement in risk sentiment following an extended period of selling pressure. Bitcoin (BTC) is back above $60,000 after testing support at $58,000 earlier in the week. Ethereum (ETH) aligns with BTC’s positive short-term outlook, rising above $1,600. Similarly, Ripple (XRP) has steadied its rebound, trading above $1.06 amid strengthening momentum indicators.
Qatar reports positive progress in indirect US-Iran talksIndirect peace talks between the United States (US) and Iran concluded on Wednesday. According to CNN, the Qatari mediators said that the negotiations made “positive progress” with issues related to the Memorandum of Understanding (MoU) and that both sides agreed to continue discussions.
At the same time, low-level technical talks between US and Iran officials are underway indirectly through Qatar and Pakistan mediators. US Vice President J.D. Vance said that discussions on the nuclear issue are expected to start soon, CNN reported.
Meanwhile, Iran has warned of an “immediate powerful response” to attacks by Israeli Forces, calling on the US to restrain its ally. This development comes in the wake of remarks from Israel’s defense minister, who declared that Iranian Supreme Leader Mojtaba Khamenei is now a direct target.
The crypto market has sprung up as risk-off sentiment marginally eases, with Bitcoin, Ethereum and XRP logging in the second straight day of gains. The crypto Fear & Greed Index continues to signal Extreme Fear, but a rise from 11 to 19 suggests an incremental shift in market sentiment. While the uptick is modest, it indicates that investors may be regaining a cautious appetite for risk, improving the outlook for a sustained crypto market rebound.
Crypto Fear & Greed Index | Source: Alternative“What we are witnessing is not the end of Bitcoin's long-term bull cycle but rather a necessary repricing phase that mirrors the evolving global macroeconomic landscape, where cryptocurrencies have become far more sensitive to economic fundamentals than they were just a few years ago,” Simon-Peter Massabni, XS.com Head of Business Development, said in a comment.
Price analysis: Bitcoin tests its recovery potentialBitcoin is edging higher above $60,000 after respecting support around $58,000, which prompted bulls to reengage. Although the overall technical structure is bearish, indicators signal a potential positive turnaround. The Moving Average Convergence Divergence (MACD) histogram has turned positive on the daily chart, hinting at a tentative recovery attempt, while the Relative Strength Index (RSI) near 39 still reflects subdued momentum rather than a decisive bullish shift.
BTC/USDT daily chartOverhead, the latest Parabolic SAR reading at $62,523 reinforces the notion that the rebound is unfolding within a broader downside context. Above this barrier, the 50-day Exponential Moving Average (EMA) near $66,157, caps the short-term trend. Higher up, the 100-day EMA at roughly $69,963 precedes a more significant hurdle at the downtrend resistance trendline around $75,208, with the 200-day EMA near $75,923 forming a dense structural zone that would need to be reclaimed to neutralize the prevailing bearish bias.
Altcoins technical outlook: Ethereum and XRP gain momentumEthereum trades at $1,623 following a brief rebound from the demand range between $1,500 and $1,600. Despite the upswing, ETH maintains a bearish near-term bias as the price holds well below the 50-day, 100-day and 200-day EMAs at $1,808, $1,987 and $2,256 respectively.
Meanwhile, the MACD histogram has turned positive on the daily chart, hinting at an attempt to stabilize losses rather than a decisive bullish reversal. The RSI around 41 on the same chart, reflects subdued demand despite recovering from near oversold conditions.
ETH/USDT daily chartInitial resistance emerges at the 50-day EMA near $1,808, ahead of the break level of the descending trendline at about $1,936, where sellers could reassert control. Further up, the 100-day EMA at roughly $1,987 and the 200-day EMA near $2,256 form a broader supply zone that would need to be reclaimed to negate the current bearish setup and open the way for a more sustained recovery.
As for XRP, the price holds above $1.06, marking a mild increase from the immediate psychological support at $1.03. Despite the uptick in the price, the remittance token sustains a bearish near-term bias as it holds well below the key moving averages.
Momentum is mixed, with the MACD just above zero and slightly positive on the daily chart, hinting at modest stabilisation, while the RSI near 38 still reflects subdued buying interest rather than a decisive recovery.
XRP/USDT daily chartOn the topside, immediate resistance lies at the 50-day EMA ($1.19), followed by the 100-day EMA at $1.30, where any advance would likely face renewed selling pressure. A sustained break above these barriers would be needed to challenge the higher structural cap at the 200-day EMA around $1.52 and to ease the prevailing bearish tone.
(The technical analysis of this story was written with the help of an AI tool.)
Bitcoin, altcoins, stablecoins FAQs Bitcoin is the largest cryptocurrency by market capitalization, a virtual currency designed to serve as money. This form of payment cannot be controlled by any one person, group, or entity, which eliminates the need for third-party participation during financial transactions.
Altcoins are any cryptocurrency apart from Bitcoin, but some also regard Ethereum as a non-altcoin because it is from these two cryptocurrencies that forking happens. If this is true, then Litecoin is the first altcoin, forked from the Bitcoin protocol and, therefore, an “improved” version of it.
Stablecoins are cryptocurrencies designed to have a stable price, with their value backed by a reserve of the asset it represents. To achieve this, the value of any one stablecoin is pegged to a commodity or financial instrument, such as the US Dollar (USD), with its supply regulated by an algorithm or demand. The main goal of stablecoins is to provide an on/off-ramp for investors willing to trade and invest in cryptocurrencies. Stablecoins also allow investors to store value since cryptocurrencies, in general, are subject to volatility.
Bitcoin dominance is the ratio of Bitcoin's market capitalization to the total market capitalization of all cryptocurrencies combined. It provides a clear picture of Bitcoin’s interest among investors. A high BTC dominance typically happens before and during a bull run, in which investors resort to investing in relatively stable and high market capitalization cryptocurrency like Bitcoin. A drop in BTC dominance usually means that investors are moving their capital and/or profits to altcoins in a quest for higher returns, which usually triggers an explosion of altcoin rallies.
Ethereum is currently trading in a critical area, as technical indicators present two interconnected yet divergent scenarios. On the one hand, the weekly chart identifies $1,100 as a principal support level. On the other hand, another technical perspective suggests the latest pullback could be the final correction before a powerful upward surge.
Key support level on the weekly chartWith ETH fluctuating around $1,570, the weekly technical outlook highlights $1,100 as the primary support zone for buyers to monitor. The inability of the price to hold above $2,900 in early 2026, followed by a continued downward move, points to weak short-term momentum.
Since 2021, the $1,100 level has served as a notable long-term support for Ethereum. Should prices return to this area and establish a base, it may offer a particularly attractive entry point for long-term spot investors.
If the $1,100 level is preserved, the first recovery target is $2,000. Should this region be surpassed, attention would then turn to $2,900 as the next significant resistance.
However, ETH has not yet tested the $1,100 threshold. Entering positions at the current $1,570 level exposes traders to uncertainty about whether lower support will hold. For a more robust technical setup, analysts seek a confirmed bounce near $1,100, a strong weekly close, or the formation of a higher low.
Unless such confirmation materializes, the risk of further downside is seen to persist. If $1,100 holds as support, $2,000 and subsequently $2,900 could come back into focus. Should momentum strengthen further, even $3,900 and $4,800 may once again become relevant targets.
Potential third wave in Elliott Wave analysisIn an alternative technical scenario, Ethereum, positioned near $1,623, is assessed by one analyst as undergoing a correction that forms part of a larger Elliott Wave structure. By this account, ETH completed a five-wave advance from the 2022 lows to the 2025 highs, finishing a primary first wave, and then entered an A-B-C corrective phase.
Glossary: Elliott Wave is a technical analysis method that interprets price actions as waves influenced by investor psychology. In this model, the third wave is usually the strongest segment of a bullish trend.
Current chart readings place ETH close to the bottom of the C wave. According to Elliott Wave principles, the completion of the second corrective wave could pave the way for a third, typically marked by robust upward momentum.
However, this bullish scenario has not yet been confirmed. The price remains near structural support after a sharp decline from $2,300. Signs of strength would involve a recovery above $1,700, followed by sustained moves targeting $1,900 and $2,300.
If ETH holds its current floor and weekly candles begin to close higher, confidence in the end of the second wave correction may grow. Conversely, if support fails and the price falls below the recent C wave bottom, this would weaken the bullish outlook, suggesting the correction is not yet over.
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.
Ethereum, the largest altcoin, surpassed its previous all-time high (ATH) in August 2025, reaching a new all-time high of over $4,900. However, this rise from its previous ATH of $4,891 to its new ATH pales in comparison to Bitcoin’s break above its previous ATH of $69,000 and its new ATH of $126,000.
Although Ethereum hit a new price record at this point, its rise was very limited, and it failed to break through the psychological barrier of $5,000.
This situation has made investors more cautious about ETH, with a former Ethereum Foundation researcher stating that ETH lacks a clear value narrative.
Ansgar Dietrichs, a former Ethereum Foundation researcher and current director of Ethlabs, who appeared on journalist Laura Shin’s Unchained podcast, stated that Ethereum has been unable to surpass the $5,000 mark for five years.
He stated that the main reason it couldn’t surpass $5,000 was the lack of a clear value narrative for ETH.
Dietrichs also noted that he found it difficult to clearly articulate the true role ETH plays as an entity today.
He also added that one of the core goals of Ethlabs, which he founded along with five other former researchers at the Ethereum Foundation, is to provide clear direction on what ETH’s purpose is and what it should be.
Podcast host Laura Shin noted that the most surprising part of her conversation with Dietrichs was his statement that ETH, despite failing to surpass $5,000 in five years, still lacks a clear value narrative.
*This is not investment advice.
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While Ethereum’s overall market structure is still dominated by the sellers, recent price action suggests sellers may be losing momentum after the market was held by the $1.5K support region twice. The emergence of a potential double bottom and improving short-term momentum could pave the way for a relief rally if buyers reclaim the next resistance cluster.
Ethereum Price Analysis: The Daily Chart On the daily timeframe, ETH is still trading within the same long-term descending channel that has remained intact for months, with both the long-term moving averages sloping lower just above the channel’s higher boundary. The price remains well below the 100-day and 200-day moving averages, which are currently positioned around the $2K to $2.2K region, confirming that the macro trend is still bearish.
After the sharp sell-off a few weeks ago, the cryptocurrency found strong demand inside the $1.5K support zone. The price has now tested this area twice, raising the possibility of a double-bottom formation. Although the pattern is not confirmed yet, the repeated defense of this support suggests that bearish momentum is fading.
The RSI has also recovered from near-oversold conditions and is gradually pushing higher toward the midline, indicating improving momentum without reaching overbought territory.
For the bullish scenario to gain credibility, ETH needs to reclaim the $1.8K resistance zone to validate the double bottom setup. A successful move above that level would also expose the next major supply area around $2K to $2.2K, where the 100-day and 200-day moving averages converge.
Conversely, losing the $1.5K support zone could likely prove catastrophic, as it would invalidate the potential reversal structure and likely trigger a deeper leg lower within the broader downtrend.
Source: TradingView ETH/USDT 4-Hour Chart The 4-hour chart presents a clearer short-term picture. The price has built liquidity beneath the $1.5K lows, as buyers stepped back into the market, preventing a lower low. This demand is gradually pushing ETH toward the first area of overhead supply.
The price is currently approaching a key fair value gap at approximately $1.7k. This imbalance coincides with the latest bearish impulse and is likely to attract selling interest. A decisive breakout above this zone would signal improving short-term strength and could open the path toward the $1.85K resistance.
Momentum has also noticeably improved on the lower timeframe, with the RSI climbing toward bullish territory while printing higher lows alongside price. This suggests buyers have regained some control after the recent rebound.
However, unless ETH successfully clears the fair value gap and establishes higher highs, the current advance could still develop into nothing more than a corrective rally within the larger bearish trend.
Source: TradingView Sentiment Analysis The distribution of open interest in options contracts shows that the largest concentration is positioned around the late December 2026 expiry, where call open interest significantly outweighs put open interest. Several other major expiries, including late September and late July, also display a clear dominance of call positioning.
This skew toward call options suggests that derivatives participants continue positioning for higher prices over the medium to long term despite Ethereum’s recent weakness. At the same time, the substantial notional value concentrated around the larger expiries indicates that these dates could become important volatility catalysts as expiration approaches.
While options positioning alone does not guarantee a bullish outcome, the current distribution reflects a market that still maintains longer-term upside expectations even as spot price remains trapped below major technical resistance. If ETH confirms the developing double-bottom structure and breaks above the nearby resistance cluster, the optimistic options positioning could provide additional tailwinds through improved market sentiment.
A Regulated First for On-Chain U.S. Equities@OndoFinance and @Broadridge (NYSE: BR) have taken a significant step in bringing U.S. equity markets on-chain, launching what they describe as the first regulated solution for third-party tokenized U.S. securities. The collaboration places shares of Micron ($MU) and BlackRock's iShares Core S&P 500 ETF on the @Ethereum blockchain, while keeping the underlying assets firmly within the existing domestic regulated custody chain.
The key distinction here is compliance. Previous tokenized equity products have largely sidestepped U.S. regulation by targeting offshore investors. This structure is different. For the first time, holders of third-party tokenized stocks and ETFs are able to participate in proxy voting , with token holders receiving the same legal protections and governance rights as conventional brokerage clients.
Proxy Voting, Oasis Pro, and the Regulatory Architecture The feature, built with Broadridge Financial Solutions, allows holders of more than 250 tokenized securities on Ondo's platform to review company filings and submit voting preferences through Broadridge's ProxyVote system. Token holders can log in with their crypto wallets to access voting materials, receive prospectuses and regulatory filings when a company calls a shareholder meeting, and submit votes directly through wallet signatures.
The regulatory backbone for the U.S. issuance side comes from Oasis Pro. Oasis Pro operates as a FINRA-member broker-dealer and SEC-registered transfer agent, and was among the first firms authorized to support digital securities settlement in both fiat and stablecoins such as USDC and DAI. The deal gives Ondo Finance SEC-registered broker-dealer, ATS, and transfer agent licenses to operate regulated tokenized securities markets. By routing token issuance through Oasis Pro as the registered transfer agent, the system achieves 1:1-backed token issuance that operates entirely within the existing U.S. regulatory perimeter.
Ondo Finance now operates the largest tokenized stocks platform in the market, holding roughly 70% of total market share in the tokenized equities sector, with over $700 million in total value locked across 250+ tokenized stocks and ETFs. The Broadridge integration extends that lead by adding institutional-grade governance infrastructure. As Doug DeSchutter, President of Investor Communication Solutions at Broadridge, said in the official announcement: "Broadridge is proud to expand its voting infrastructure to connect our new Web3-enabled platform with the governance, disclosure, and investor participation standards that underpin modern capital markets."
Together, the two partnerships, Broadridge for governance and Oasis Pro for regulated issuance, give Ondo a full-stack compliance architecture that could serve as a template for how tokenized U.S. equities are structured going forward.
Sources
Broadridge Official Press Release: Ondo Finance Brings Shareholder Voting Capabilities to Tokenized Securities
CoinDesk: Ondo Finance Adds Proxy Voting for Holders of Its $700 Million Tokenized Equities
Blockworks: Ondo Finance Finalizes Oasis Pro Acquisition
Ethereum (ETH) has rebounded from its recent lows, but the recovery may not be enough to reverse a prolonged exodus from spot Ethereum ETFs, highlighting a growing disconnect between the cryptocurrency’s price action and institutional investor sentiment.
ETH has climbed back above the psychologically important $1,500 level and was recently trading in the $1,600-$1,620 range after briefly dipping to around $1,500. However, Simon-Peter Massabni, Head of Business Development at global multi-asset broker XS.com, cautioned that the move appears to be more of a technical rebound than the beginning of a sustained rally.
“The current rebound is still not enough to confirm a clear reversal,” Massabni said. “Instead, it mainly appears to be a corrective move after selling pressure had persisted for several sessions.”
ETF Flows Remain the Biggest HeadwindWhile Ethereum’s price has stabilized, spot Ethereum ETFs continue to paint a less encouraging picture.
According to Massabni, the funds have logged seven consecutive weeks of net outflows totaling roughly $1.18 billion, underscoring continued institutional caution toward the second-largest cryptocurrency. If withdrawals continue this week, Ethereum ETFs would extend their losing streak to eight straight weeks.
“Spot Ethereum ETFs have faced seven consecutive weeks of net outflows, with the total value reaching around $1.18 billion, clearly reflecting institutional investors’ cautious stance toward ETH,” he said.
The persistent outflows stand in sharp contrast to the optimism surrounding the launch of spot Ethereum ETFs, which many market participants expected would unlock a fresh wave of institutional demand, similar to the record inflows seen in spot Bitcoin ETFs.
Instead, Ethereum funds have struggled to establish sustained momentum as investors remain selective amid elevated interest rates, macroeconomic uncertainty and mixed sentiment across digital assets.
Macro Environment Still Weighs on CryptoMassabni believes the broader macro backdrop continues to limit risk appetite.
“The macro backdrop is still not truly supportive of risk assets,” he said, pointing to uncertainty surrounding the Federal Reserve’s interest-rate path. “In an environment where interest rates may stay higher for longer, capital tends to be more cautious toward highly volatile assets such as cryptocurrencies.”
He added that weak ETF demand has become a key signal of institutional positioning.
“The lack of positive ETF flows reflects cautious sentiment among large investors and reduces ETH’s short-term appeal compared with initial expectations,” Massabni said.
Ethereum also remains closely tied to broader crypto market sentiment, with Bitcoin yet to establish a decisive upward trend. As a result, ETH could struggle to outperform independently unless market conditions improve.
What Could Turn the Tide?Massabni said ETF flows may ultimately determine whether Ethereum’s rebound develops into a sustained recovery.
“If ETH manages to stay above the $1,500 area and ETF flows show signs of stabilizing, price could continue to recover toward higher zones around $1,700-$1,800,” he said.
However, he warned that renewed macro pressure or continued investor withdrawals from spot Ethereum ETFs could send the cryptocurrency back toward the $1,500 support level. A decisive break below that threshold, he added, could extend the broader downtrend before the market finds a new equilibrium.
Image: Shutterstock
This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
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Ethereum Layer 2 network Taiko has resumed its bridge service following a recent security breach. The project team announced that asset transfers between the Ethereum and Taiko networks are once again operational, marking the completion of their post-attack recovery process.
Bridge operations back onlineTaiko reported that all users impacted by the attack have been fully compensated. The team emphasized that the bridge is now functioning with a complete 1:1 asset backing, ensuring every token on the Taiko network is matched by an equivalent locked asset on Ethereum.
The Taiko team stated that all affected users have been made whole and that the bridge is once again operating with full 1:1 asset backing on the Ethereum side.
As a Layer 2 scaling network on Ethereum, Taiko aims to provide faster and cheaper transactions. With the reopening of the bridge, the project confirmed that the network is fully operational once again.
Mini Glossary: 1:1 asset backing means that every token on a network is supported by an equivalent asset locked on another chain. This balance is fundamental for the security of cross-chain bridges, allowing users to transfer assets safely.
Details of the June attackThe security incident took place on June 21, when the attacker compromised the mechanism that verifies the chain’s state, managing to inject fraudulent proofs into the system. As the protocol accepted these false proofs as valid, unauthorized withdrawals were made from Ethereum’s bridge vault.
Blockchain security firms estimated that up to $1.7 million worth of crypto assets were stolen in the attack. Following the breach, the Taiko team halted bridge operations and redirected efforts toward restoring network security.
The project team highlighted that the finalized chain state was thoroughly reviewed, ensuring that no fake checkpoints or unprocessed malicious claims remained in the system.
Recovery plan executed in four phasesEarlier, Taiko had published a four-phase recovery strategy to bring the network back online safely. The team confirmed that every stage of the plan has now been completed. Security patches have been implemented, the chain’s final state has been examined, and the upgrades have been reviewed first by the Security Council, then by independent security experts.
Although the bridge has been reopened, temporary withdrawal limits will remain in place as an additional precaution. Taiko stated these limits have been set conservatively and are not expected to disrupt normal usage. However, specific thresholds have not yet been disclosed.
EventDetailsAttack dateJune 21Time to reopen11 daysEstimated loss$1.7 millionCollateral status1:1 asset backing restoredMarket reaction and industry impactFollowing the announcement that the bridge was operational again, Taiko’s native token TAIKO briefly surged to $0.35 before retreating to around $0.14. The project team also revealed plans to publish a detailed technical review in the coming days, covering the attack, the recovery process, and additional safeguards introduced to prevent future incidents.
Separately, blockchain security firm PeckShield reported that crypto projects collectively lost $75.87 million to major security breaches in June, with 40 significant incidents identified over the month.
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.
Major cryptocurrencies are broadly in the green Thursday with Bitcoin, Ethereum, XRP, and other top coins showing gains as crypto liquidations climb—with short positions making up the majority of the carnage.
Bitcoin topped the $62,000 mark Thursday morning for the first time in more than a week, rebounding to $62,078 after falling to a 21-month low under $58,000 earlier in the week. At a recent price of $61,808, Bitcoin is up about 3% on the day and 4% in the last week.
Other major cryptocurrencies are showing similar gains, with Ethereum and Solana both up nearly 5% on the day, hitting recent prices of $1,701 and $81 respectively. Solana is the biggest gainer among the top 10 cryptocurrencies in the last week, rising more than 22% during that span. XRP is up more than 3% on the day at a recent price of $1.09.
Crypto liquidations have surged to $602 million over the last 24 hours, per data from CoinGlass, with Ethereum flipping Bitcoin to become the biggest contributor with $187 million in liquidations compared to $184 million for BTC. Overall, short liquidations make up $400 million of the pile.
The bullish rebound comes following comments Wednesday from Federal Reserve Chair Kevin Warsh, who declined to say whether the agency planned rate hikes later this year. As of this writing, interest rate traders foresee roughly even odds of the Fed either holding rates steady or raising them at its September meeting, though they project a 64% chance of some kind of rate hike by the FOMC's October meeting, per CME's FedWatch.
On Thursday, the U.S. Bureau of Labor Statistics reported that employers reported adding significantly fewer jobs in June than expected—57,000 vs. a target of 115,000, down from a revised figure of 129,000 jobs added in May.
Stocks are mixed following the news, with the S&P 500 and Nasdaq both down for the day, but the Dow still green, per Yahoo Finance.
Major crypto stocks are showing gains on the day, with Strategy (MSTR) up nearly 7% to $100 per share—after falling to nearly $80 last week—while Coinbase (COIN) is up 3.35% to $165 and USDC stablecoin issuer Circle (CRCL) has gained almost 5% to $65.
Daily Debrief NewsletterStart every day with the top news stories right now, plus original features, a podcast, videos and more.
Major cryptocurrencies are broadly in the green Thursday with Bitcoin, Ethereum, XRP, and other top coins showing gains as crypto liquidations climb—with short positions making up the majority of the carnage.
Bitcoin topped the $62,000 mark Thursday morning for the first time in more than a week, rebounding to $62,078 after falling to a 21-month low under $58,000 earlier in the week. At a recent price of $61,808, Bitcoin is up about 3% on the day and 4% in the last week.
Other major cryptocurrencies are showing similar gains, with Ethereum and Solana both up nearly 5% on the day, hitting recent prices of $1,701 and $81 respectively. Solana is the biggest gainer among the top 10 cryptocurrencies in the last week, rising more than 22% during that span. XRP is up more than 3% on the day at a recent price of $1.09.
Crypto liquidations have surged to $602 million over the last 24 hours, per data from CoinGlass, with Ethereum flipping Bitcoin to become the biggest contributor with $187 million in liquidations compared to $184 million for BTC. Overall, short liquidations make up $400 million of the pile.
The bullish rebound comes following comments Wednesday from Federal Reserve Chair Kevin Warsh, who declined to say whether the agency planned rate hikes later this year. As of this writing, interest rate traders foresee roughly even odds of the Fed either holding rates steady or raising them at its September meeting, though they project a 64% chance of some kind of rate hike by the FOMC's October meeting, per CME's FedWatch.
On Thursday, the U.S. Bureau of Labor Statistics reported that employers reported adding significantly fewer jobs in June than expected—57,000 vs. a target of 115,000, down from a revised figure of 129,000 jobs added in May.
Stocks are mixed following the news, with the S&P 500 and Nasdaq both down for the day, but the Dow still green, per Yahoo Finance.
Major crypto stocks are showing gains on the day, with Strategy (MSTR) up nearly 7% to $100 per share—after falling to nearly $80 last week—while Coinbase (COIN) is up 3.35% to $165 and USDC stablecoin issuer Circle (CRCL) has gained almost 5% to $65.
Daily Debrief NewsletterStart every day with the top news stories right now, plus original features, a podcast, videos and more.
TLDROndo Finance Uses SEC Custodial FrameworkBlackRock IVV ETF Enters Ondo Tokenized OfferingMicron Stock Gets Tokenized Under Same ModelOndo Finance Expands Tokenized Securities MarketGet 3 Free Stock Ebooks Ondo Finance launched tokenized versions of BlackRock’s IVV ETF and Micron stock in the U.S. The products use a third-party custodial model outlined by the SEC in January. Oasis Pro TA mints the tokens with 1:1 backing from the underlying securities. The tokenized IVV and Micron products are issued on Ethereum and held by regulated custodians. Token holders receive shareholder rights, issuer communications, and onchain proxy voting access. Ondo Finance launched tokenized versions of BlackRock’s IVV ETF and Micron stock in the U.S. on Thursday. The products use a custodial model outlined by the SEC in January. The launch expands Ondo Finance’s regulated tokenized securities push.
Ondo Finance Uses SEC Custodial Framework Ondo Finance said the products mark a new step for tokenized U.S.-listed securities. The firm tokenized BlackRock’s iShares Core S&P 500 ETF and Micron shares. Both products trade as blockchain-based representations of traditional securities.
The SEC described this structure in January guidance on tokenized securities. Under that model, a third party holds the underlying securities. It then issues crypto assets that represent investor entitlement to those holdings.
Ondo Finance said its IVV and MU tokens follow that structure. The underlying shares remain inside the normal U.S. custody chain. Oasis Pro TA mints tokens backed 1:1 by those securities.
BlackRock IVV ETF Enters Ondo Tokenized Offering Ondo Finance issued the tokenized IVV product on Ethereum. Regulated custodians hold the related tokens for eligible users. The company said this structure keeps the product inside existing market systems.
The IVV ETF tracks the S&P 500 and remains a major U.S. equity fund. Ondo Finance now offers blockchain access to that exposure through tokenized ownership. However, the product still depends on traditional custody links.
Ondo Finance CEO Ian De Bode called the launch a regulatory and market milestone. “Today’s milestone shows we can tokenize securities in ways that meet both market and regulatory requirements,” he said.
He added that it supports broader onchain investment access.
Micron Stock Gets Tokenized Under Same Model Ondo Finance also tokenized Micron shares under the same U.S. custodial setup. The MU-backed token gives eligible holders exposure to the chipmaker’s stock. The token uses the same 1:1 backing process.
Token holders receive shareholder rights linked to traditional brokerage accounts. These rights include issuer communications and proxy voting. Ondo Finance said Broadridge’s ProxyVote.com supports onchain proxy voting for the products.
Transfer limits also apply through broker-dealers, transfer agents, and custodians. These controls align the tokens with current regulatory requirements. Ondo Finance said the framework supports U.S. and global access.
Ondo Finance Expands Tokenized Securities Market Ondo Finance focuses on tokenized real-world assets and institutional financial products. Its Global Markets platform outside the U.S. supports more than $1 billion in tokenized securities. The platform covers more than 430 stocks and ETFs.
The firm also expanded through a June partnership with Exodus. That deal launched Exodus Markets for eligible users through the Exodus app. The platform offers more than 200 tokenized stocks, ETFs, and real-world assets.
The tokenized equities sector reached a $5.5 billion market cap on June 8. That marked a 147% rise from $2.23 billion at year-start. Ondo Finance now adds U.S.-structured IVV and MU products to that market.
The IOTA Foundation has published its report for the second quarter of 2026, reporting significant progress in the expansion of TWIN.
The main focus was on the activation of the Starfish consensus protocol, trade projects in Africa and the United Kingdom, and a stronger organizational alignment toward institutional use cases.
The IOTA Foundation is a non-profit organization that developed IOTA, a distributed ledger network. It was originally built for machine-to-machine transactions and IoT data integrity, with its native token IOTA trading on major crypto exchanges.
IOTA focuses on TWINAccording to the foundation, its development, research, design, and product teams have been brought closer together. As recently announced by co-founder Dominik Schiener, the IOTA Foundation intends to focus more strongly on TWIN following an organizational restructuring and layoffs, rather than continuing to pursue several separate initiatives. The quarterly report states,
“The Foundation is fully focused on supporting and scaling TWIN...By moving past isolated, general-purpose blockchain lines, we’re concentrating our talent on building a resilient, compliant, and production-grade network for the global economy."
The most important technical milestone was the activation of the Starfish consensus protocol on April 23. The upgrade is designed to improve the stability of the IOTA mainnet under real-world network conditions and ensure continuous operation even with limited connectivity.
At the same time, the team completed Protocol Version 29. This version includes additional security mechanisms for smart contracts. The core development of Starfish-Speed was also completed, with the aim of reducing latency.
IOTA also reported progress on the P-COOL transaction flow. The approach is intended to deliver higher performance while requiring roughly half the resources previously needed. The report states:
“Q2 was a success in making IOTA more capable for the people building on it and cheaper for the people running it...Core storage optimizations have successfully reduced the active node data footprint by approximately one-third in testing environments, significantly lowering long-term infrastructure and maintenance costs for operators."
TWIN expands in Africa and the United KingdomAt the application level, the Foundation primarily focused on trade infrastructure. Together with TradeMark Africa, the team worked on a business and fee model for deployment in Kenya.
Implementation of the ADAPT initiative also began in the second quarter. Developed together with the AfCFTA Secretariat, the Tony Blair Institute for Global Change, and the World Economic Forum, the project aims to enable digital identities, data exchange, and digital payments initially in Kenya, Nigeria, and Morocco.
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“Kenya, Nigeria, and Morocco have been selected as the first countries to implement ADAPT - the Africa Digital Access and Public Infrastructure for Trade initiative," the company wrote.
For the Trade Logistics Information Pipeline (TLIP), version 1.3.9 achieved a 95% success rate across all active test profiles, according to the report. Document channels between authorities in Kenya were also successfully tested from node to node.
In the United Kingdom, TWIN secured five key supporters for a letter of intent regarding the International Supply Network. Further integrations with port authorities, freight forwarders, and trade organizations are currently being prepared.
The TWIN Foundation recently announced that more than 30 countries are expected to go live by 2030. In Argentina, IOTA technology has also been implemented in a government project for transplant processes.
Trending on TheStreet RoundtableXRP eys bigger move as Binance open interest hits 2026 highMark Cuban has a blunt response to Coinbase CEORipple wants AI agents to pay with XRP and RLUSDNpm downloads point to growing developer activity around TWINBeyond the official country projects, there are also signs that TWIN is attracting more attention. On the Node Package Manager (npm) package platform, key components of the framework have recently been downloaded significantly more often.
The core package currently reaches 18,222 installations within seven days. The IOTA-specific module, which connects the framework to IOTA technology, records 3,711 weekly installations.
The statistics show the latest npm download figures for the IOTA package used for TWIN integration.
These figures are not direct proof of active users or companies operating in production. However, they show how often TWIN’s technical components are being installed in development, testing, or build environments.
For a specialized framework in the field of digital trade infrastructure, the current level is nevertheless notable. It suggests that TWIN is not only being expanded strategically, but is also gaining increasing attention in technical practice.
Hollywood director Carl Rinsch, best known for the 2013 film "47 Ronin," has been sentenced to 30 months in federal prison after a Manhattan court found he diverted $11 million in Netflix production funds into $DOGE trades, speculative stock bets, and personal luxury purchases.
From Production Budget to Personal Bets In 2018, Netflix commissioned Rinsch to produce a science-fiction series originally titled "White Horse," later renamed "Conquest." Over 2018 and 2019, the streaming company invested $44 million in his production company to support the project. Between late 2019 and early 2020, Rinsch sought an additional $11 million, claiming the funds were needed to finish production. The streaming company approved the request and transferred the money to a company under his control on March 6, 2020. Within days, prosecutors say the money began moving through multiple bank accounts before landing in a personal brokerage account.
Rinsch moved the funds to personal brokerage accounts and lost most of it betting on COVID-related market trades. He was eventually left with $4 million and decided to spend it all on Dogecoin. The move paid off, and he managed to make $27 million from the investment. Despite that windfall, federal prosecutors maintained that the cryptocurrency windfall was irrelevant to the underlying criminal conduct. The money had been secured through fraudulent representations and deployed for unauthorized purposes.
The trading profits were spent on luxury goods including five Rolls-Royces, a Ferrari, antique furniture, mattresses, bedding, watches, clothing, and stays at Four Seasons hotels and other rental properties.
Sentence and Court Reaction Rinsch, known for directing the 2013 film "47 Ronin," was convicted in December 2025 after a one-week trial. He was convicted of one count of wire fraud, one count of money laundering, and five counts of engaging in monetary transactions in property derived from unlawful activity. Wire fraud and money laundering each carried a maximum sentence of 20 years in prison, while the five other counts each carried a maximum of 10 years.
According to the U.S. Attorney's Office for the Southern District of New York, Rinsch was sentenced to three years of supervised release, $11 million in forfeiture, and $700 in mandatory special assessments. Judge Jed Rakoff settled on 30 months, half what prosecutors wanted, after hearing testimony about Rinsch's mental health. Keanu Reeves, who starred in Rinsch's only major feature film, submitted a letter to the court urging leniency.
U.S. Attorney Jay Clayton said: "Carl Erik Rinsch promised to make a television show. Instead, he used $11 million meant for production as his personal casino and luxury fund." The judge reportedly added his own note on crypto, joking that he did not recommend Rinsch keep investing in cryptocurrency, calling it "just a market for gambling."
Sources:
Carl Rinsch sentenced over Netflix funds used on Dogecoin (Crypto.news)
Netflix director sentenced for blowing sci-fi series funds on Dogecoin (Protos)
Carl Rinsch (Wikipedia)
Charles Hoskinson has pushed back against criticism surrounding Cardano’s absence from the Open USD (OUSD) stablecoin consortium.
During a recent exchange on X, Hoskinson argued that ecosystem participants cannot criticize Cardano’s lack of involvement in major commercial initiatives while simultaneously voting against proposals specifically designed to create those opportunities.
Hoskinson’s remarks came in response to criticism from prominent Cardano DRep YODA. The DRep questioned why major Cardano-related organizations, including EMURGO, Cardano Foundation, and Input Output Global (IOG), were absent from the newly formed Open USD Consortium.
Notably, the consortium includes more than 140 institutional partners, among them Ripple, Mastercard, OKX, MoonPay, and Visa.
Hoskinson Calls for Governance Accountability In response, Hoskinson stressed that governance participants must accept responsibility for the consequences of their voting decisions. According to him, the development teams invested hundreds of hours designing proposals intended to accelerate Cardano’s commercialization efforts. However, once those proposals entered the governance process, DReps voted them down.
“We put hundreds of hours, carefully proposing direct routes to commercialize Cardano. We brought it to a vote. You voted against it,” the Carano founder noted.
Hoskinson added that he does not care about the reasons behind those decisions because DReps ultimately own the outcome of their votes.
“I don’t care about your reasons. You own the vote,” he remarked.
Commercial Partnerships Require More Than Membership: Hoskinson Meanwhile, Hoskinson argued that joining initiatives such as the Open USD Consortium is relatively straightforward. The more difficult challenge, he said, involves deploying capital and building the financial infrastructure necessary to support those partnerships.
As part of that effort, he pointed to his proposal for a managed sovereign wealth fund capable of providing liquidity, minting stablecoins, and financing ecosystem growth initiatives. Hoskinson also highlighted several projects that he believes form the commercial backbone of the Cardano ecosystem, including RealFi, Midnight, Blockfrost, and Pogan.
According to him, these initiatives provide the infrastructure upon which larger commercial integrations can be built.
Governance Tensions Continue Across the Ecosystem The latest dispute further highlights the governance tensions that have dominated much of the year within the Cardano ecosystem.
The disagreements contributed to the cancellation of several IOG funding proposals, including research and development funding for Blockfrost and the Cardano Summit 2026.
Amid the ongoing debate, Hoskinson recently advocated for governance reforms. His proposals include moving Cardano governance discussions to a moderated Discord server, becoming a DRep himself to participate directly in voting and improve accountability, and revising the ecosystem’s constitution.
DisClamier: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basic opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.
