Marc Andreessen: Zhipu AI’s GLM-5.2 Rivals Top U.S. Open Models, Large Language Model Capabilities Gradually Move Toward a Multipolar Competitive Landscape
According to monitoring by Beating, a16z co-founder Marc Andreessen noted that many AI practitioners and industry insiders consider Zhipu GLM-5.2 to be the first Chinese AI model that can match or even outperform open models from leading U.S. labs on most tasks, while also being balanced across multiple capability dimensions. This development carries "extremely critical timing significance" amid accelerating global AI competition, as large model capabilities are gradually shifting from being dominated by a small number of U.S. labs to a multipolar competitive landscape. Click the original link below to join Beating’s Feishu AI News Channel, which provides 24/7 uninterrupted monitoring of global AI hotspots and news.
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Michael Saylor has once again released updates for his Bitcoin Tracker, potentially signaling another round of BTC accumulation.
Michael Saylor, founder of MicroStrategy, has once again shared updates on Bitcoin Tracker, remarking, “We are gonna need more charts.” Per historical trends, MicroStrategy typically announces increases to its Bitcoin holdings the day after such statements.
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Bank of America: Three key thresholds for US stocks to trigger a "full risk-off" this summer, with signals for these conditions already building up.
BofA Securities chief strategist Michael Hartnett outlined three thresholds for a "full risk-off" trigger this summer in his latest Fund Flow Report: the Mag7 ETF falling below $60, USD/JPY dropping below 110, and the yield curve inverting again. None of these conditions have been met yet, but related signals are building. U.S. stock funds posted a net outflow of $8.5 billion, the first such outflow since March, following a historic $119.2 billion net inflow. The divergence where hyperscale cloud providers continue to underperform chip stocks has pushed the sustainability of AI capital spending to the core of market debate: Apple’s MacBook price hikes and Microsoft’s Xbox price increases are both directly tied to rising memory costs. Rack memory prices at Vera Rubin have surged by 435% cumulatively, and Goldman Sachs forecasts AI capital spending could reach as high as $1.4 trillion by 2027. Hartnett’s core ongoing question is: How much further do cloud providers need to fall before the market starts pricing in capital spending cuts? U.S. equity funds have shifted ahead of the curve, with liquidity flowing out of tech giants and into cyclical assets including semiconductors, small-caps, housing, and REITs — a move the market interprets as a front-run bet on a policy shift toward "affordability". For asset classes, Hartnett believes gold remains highly valuable for allocation below $4,000, and going long on long-dated U.S. Treasuries is currently the most contrarian long-term trade. The U.S. dollar is only suitable for short-term holding rather than long-term allocation, while going long on emerging markets over the long term is his strategic stance. Since Fed Chair Waller took office on May 22, U.S. Treasuries have risen by 3.2% cumulatively, while stocks have fallen by 1.6%, with bonds outperforming significantly.
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Bank of America: There are three key thresholds for US stocks to trigger a full-scale risk-off move this summer; none of the conditions have been triggered yet, but relevant signals are accumulating.
Bank of America Securities chief strategist Hartnett outlined three triggers for a "full risk-off" environment this summer in his latest Fund Flow Report: Mag7 ETF falling below $60, USD/JPY dropping below 110, and the yield curve inverting again. None of these conditions have been met yet, but signals are building. U.S. equity funds have posted a net outflow of $8.5 billion, the first such outflow since March, following a historic $119.2 billion net inflow. The divergence where hyperscale cloud providers continue to underperform chip stocks has put the sustainability of AI capital expenditure at the center of market debate: Apple’s MacBook price hikes and Microsoft’s Xbox price increases are both directly tied to rising memory costs. Vera Rubin rack memory prices have surged 435% cumulatively, and Goldman Sachs projects AI capital expenditure could reach as high as $1.4 trillion by 2027. Hartnett’s core ongoing question is: How much further do cloud providers need to fall before the market begins pricing in capital expenditure cuts? U.S. equity funds have already shifted ahead of time; liquidity flowing out of tech giants is pouring into cyclical assets like semiconductors, small-caps, housing, and REITs, a move the market interprets as a front-run bet on policy shifting toward "affordability." At the asset class level, Hartnett believes gold still holds strong allocation value below $4,000, and going long on long-dated U.S. Treasuries is the most contrarian long-term trade right now. The U.S. dollar is only suitable for short-term holding rather than long-term allocation, and his strategic view is to go long on emerging markets over the long term. Since Fed Chair Waller took office on May 22, U.S. Treasuries have risen 3.2% cumulatively, while stocks have fallen 1.6%, with bonds significantly outperforming.
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Samsung Electro-Mechanics plans to sign a 500 billion won large order for AI server MLCCs, and will partner with Sumitomo Chemical to develop glass substrate business.
Samsung Electro-Mechanics is in final negotiations with a major U.S. tech firm over a supply contract for MLCCs (multi-layer ceramic capacitors) for AI servers. Worth around 500 billion won, the deal equals 10% of its component division’s annual revenue last year, making it an extremely large-scale order. Industry sources speculate the client is a leading player with significant clout in the data center sector. Each AI server requires 15,000 to 25,000 MLCCs—over 10 times the number used in a smartphone—with a unit price more than triple that of smartphone-grade MLCCs, earning the component the nickname "golden rice of the AI industry". Samsung Electro-Mechanics currently holds the No.2 position in the global MLCC market with a 20%+ share. The contract is expected to significantly boost its standing in the AI server MLCC market. Industry observers note the deal essentially secures quality validation from a global "big buyer", which will prompt other major tech firms to follow suit. Turning to its glass substrate business, Samsung Electro-Mechanics will formally sign a joint venture agreement with Japan’s Sumitomo Chemical this week. The two firms will invest a combined 500 billion won to set up a glass substrate JV, with Samsung holding a majority stake and contributing around 300 billion won. The JV will be based at the Pyeongtaek plant of Sumitomo Chemical’s South Korean subsidiary Dongwoo Fine-Chem, with production scheduled to launch in early next year. Glass substrates, which offer superior heat resistance to traditional plastic substrates and can accommodate more HBM (high-bandwidth memory) and GPUs, are hailed as "rule changers" for AI semiconductor packaging. Samsung Electro-Mechanics aims to lock in a high-quality supply chain in advance for mass production, while Sumitomo Chemical is using this partnership to enter the next-generation packaging materials market.
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Crypto KOL Ansem has continued pumping his eponymous meme coin, with ANSEM’s market cap briefly surging past $78 million.
According to GMGN data, Solana ecosystem meme coin ANSEM briefly hit a market cap of over $78 million before pulling back to $74 million. It has seen a 356x price surge in 24 hours, with 24-hour trading volume reaching $49.4 million. Today, crypto KOL Ansem announced on social media that, due to Pump.fun’s refusal to distribute airdrops, he is issuing a “stimmy” (stimulus fund) to “the trenches” — a term referring to on-chain meme coin traders. As of press time, Ansem has been posting buy calls continuously to stoke community sentiment. BlockBeats reminds users: Most meme coins lack real-world use cases and are highly volatile; please protect your assets and avoid FOMO.
Thursday was particularly positive days for the spot ETFs tracking Hyperliquid's token.
The evident divergence in how ETF investors behave toward the largest cryptocurrencies by market cap continues. The past week saw some record-setting withdrawals from the BTC funds, but those following HYPE and XRP have maintained their green dominance.
At the same time, the SOL funds have turned red after the previous week’s positive performance.
XRP and HYPE Still Dominate CryptoPotato reported last week that the spot ETFs tracking HYPE, XRP, and SOL defied the trend set by the two largest digital assets and attracted notable capital. The trend extended in the past week for two of those assets, and one day was particularly positive for the HYPE funds.
Data from SoSoValue reveals that Thursday stands out with just over $108 million in net inflows, making it by far the best single-day performance from the funds. With a lot more modest $1.46 million on Tuesday and $1.82 million on Friday, the week ended with $111.36 million in net inflows. It also set the record for the most significant weekly inflows, surpassing the previous of $72.38 million marked during the funds’ second week of existence.
The spot XRP ETFs also ended the week strongly, albeit nowhere near HYPE’s Thursday inflows. They attracted $15.63 million on Friday, building on the $5.31 million on Monday and $2.05 million on Wednesday. With Tuesday and Thursday being $0.00 days, the week ended with $23 million in net inflows, the best in a month and a half.
The cumulative total net flows have risen to another all-time high of $1.47 billion. Moreover, both XRP and HYPE ETFs have been on a green-only weekly streak for 8 and 7 consecutive weeks now, respectively.
SOL Joins BTC and ETH While the HYPE and XRP products have continued their impressive streak, SOL has fallen behind with a $3.8 million net outflow. Thus, the Solana ETFs have joined the two market leaders.
You may also like: Hyperliquid Responds After Appearing on Singapore’s Investor Alert List Bitcoin Didn’t Lose to Gold, the Rotation Story Is Wrong: Analyst Bitcoin Holds Key Price Floor Despite Weak Bullish Signals: Bitfinex Alpha The spot Bitcoin ETFs registered another massive withdrawal in the past week, with nearly $1.8 billion leaving the funds. This was their second-worst weekly performance in their 2.5-year history. The Ethereum funds were also in the red, with more than $273 million withdrawn.
Taiko says it is ready to bring its Ethereum layer-2 network back online after a June 21 security breach.
Summary
Taiko says the attack path is closed after outside experts reviewed its latest security fixes. The restart plan will restore chain activity before reopening the bridge under withdrawal quotas. Recent bridge attacks show why projects now face close scrutiny over proof validation controls. The project says the attack path is now closed, outside security experts have reviewed the fixes, and users will not lose funds.
The update marks a shift from emergency response to staged recovery. Taiko plans to restore the chain, back the bridge assets, reopen network activity and then unpause bridge operations under limits.
Taiko says attack path is closed Taiko said the June 21 attack path has been closed after a review by independent security experts. The team said it now has a staged plan to restore the chain while protecting user funds and network stability.
Taiko is ready to come back online.
The June 21 attack path is closed, the fixes have been reviewed by independent security experts, and we have a clear, staged plan to restore the chain. We're doing it in four careful steps, to ensure user’s security and stability before it…
— Taiko.eth 🥁 (@taikoxyz) June 28, 2026 The project said the first step will deploy the fixes and confirm the chain’s finalized state. Taiko also said the review must confirm there are no forged checkpoints or attacker claims still reachable.
The update follows an earlier warning after Taiko confirmed a compromise of its chain-state verification mechanism. As previously reported, the project had urged users to withdraw bridge funds and asked exchanges to pause TAIKO deposits while the team contained the issue.
Blockaid had linked the attack to flawed source-signal proof checks. The security firm said crafted message proofs were accepted on Ethereum without matching valid events on Taiko, allowing unauthorized releases from the ERC20 Vault.
Bridge backing comes before full access Taiko said the second step will replenish the bridge so every L2 asset is backed 1:1. The team said users will be able to verify the backing on-chain.
This step matters because bridge users rely on the claim that assets on the L2 match assets held or locked elsewhere. If backing becomes weak after an exploit, users may lose trust in wrapped or bridged balances.
Taiko said the Security Council will handle key restart actions. The council will also submit the proposal that unpauses the bridge once the chain finalizes properly and the network remains stable.
The team said it will reopen the bridge with conservative withdrawal quotas. Taiko said it does not expect the limits to stop users from moving assets, but it will use them as an extra safety guard.
Network activity returns in stages After the fixes and bridge backing steps, Taiko plans to bring network functions back online. Transfers, swaps and trading on L2 will return before the bridge fully opens.
That order gives the team time to watch the chain under normal activity before allowing free movement to and from the bridge. It also lowers the risk of a rushed restart after a security breach.
Taiko said, “No user will lose funds.” The team also warned users that there is no claim site and that the project will never contact users first through direct messages.
That warning targets phishing risks that often follow crypto exploits. Fake recovery links, support accounts and claim pages can lead users into signing harmful transactions or exposing wallet details.
Bridge security remains under pressure The Taiko breach adds to a series of recent bridge security failures. A Verus Protocol bridge exploit drained more than $11.5 million after attackers used forged cross-chain transfer messages.
Axelar also disabled Secret Network bridge routes after a $4.7 million exploit. Aztec Connect later lost about $2.1 million after an old contract suffered a verification mismatch.
A separate report said cross-chain bridge exploits caused $28.6 million in May losses, or about 42% of the monthly total. That figure shows why bridge proof checks and recovery plans now face close review.
Taiko’s next test is execution. The project must restore activity, prove 1:1 backing, reopen withdrawals safely and keep users away from scam recovery channels.
Sharplink, the second-largest Ethereum [ETH] treasury company, purchased an additional 29,196 ETH for $46.7 million on the 27th of June. In fact, Lookonchain reported that the Ethereum DATs amassed 39,196 ETH, worth $62.4 million, over the last three days.
Source: Lookonchain/X This marks Sharplink’s second purchase after an eight‑month pause. The first occurred when the firm added 5,000 ETH through FalconX, worth about $7.88 million at an average price of $1,576. With these acquisitions, Sharplink now holds 868,699 ETH in total, including 22,102 staked tokens. Meanwhile, its stock closed at $4.81, up 5.48% from the prior trading day.
Sharplink vs. Bitmine Meanwhile, on the 22nd of June, Bitmine, the biggest Ethereum DAT, paid $92 million to acquire an additional 52,203 Ethereum. As of right now, Bitmine has 5,672,956 ETH worth $8.92 billion.
Bitmine’s Tom Lee also stressed that his firm plans to continue growing steadily through 2026 and ultimately accomplish the “alchemy of 5%.” Although Sharplink has not yet disclosed such plans, the ETH accumulation strategy has been relatively comparable.
Ethereum’s market dynamics paint a concerning picture All this happened as ETH was trading at $1,568.75, the lowest level since April 2025. Meanwhile, Ethereum’s Spot Taker CVD has lost some of its aggressive buying momentum, which is a major shift compared to June 2025.
Although buyers are still present in the market, their influence has waned. Unlike the strong accumulation phase seen a year ago, the current demand indicates buyer exhaustion.
Source: CryptoQuant Final Summary Sharplink added more ETH in the past three days, pushing its total ETH holding to 868,699 ETH in total. Sharplink’s stock price also jumped after the ETH accumulation, but ETH’s price was changing hands around the $1500 price level.
In a move that continues to garner interest in both traditional and cryptocurrency markets, SharpLink Gaming has once again increased the size of its Ethereum treasury by acquiring roughly $46.7 million worth of ETH.
Becoming a top-tier investorRecent on-chain data indicates that the company received 29,195.83 ETH at an average acquisition price of $1,599.50 per coin from Galaxy Digital approximately ten hours ago.
After the most recent acquisition, SharpLink's on-chain holdings now total more than 202,000 ETH, or roughly $342 million at current market prices.
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ETH/USDT Chart by TradingViewThe approach clearly resembles Michael Saylor's Bitcoin-focused strategy at Strategy. Businesses using this model treat cryptocurrencies as core treasury reserves rather than as speculative side investments.
Ethereum has emerged as SharpLink's preferred asset. This strategy has more justification than just price appreciation. Ethereum provides more opportunities through staking, in contrast to Bitcoin. Companies may be able to generate yield while maintaining exposure to the asset's long-term value by holding substantial amounts of ETH. This results in a treasury model that combines recurring blockchain-generated rewards with the potential for capital growth.
SharpLink's strategyAdditionally, SharpLink's expanding market share represents a direct wager on Ethereum's potential future in digital finance. Ethereum is still one of the main networks anticipated to benefit from the continued growth of decentralized finance, tokenized assets, stablecoin infrastructure, and blockchain settlement systems. Establishing a sizable treasury position now enables the business to gain exposure prior to a possible acceleration of wider institutional adoption.
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Nevertheless, there are risks associated with the strategy. SharpLink's balance sheet is becoming more susceptible to changes in the price of Ethereum, which remains a highly volatile asset. The business is essentially tying the performance of a single cryptocurrency to a sizable portion of its corporate value.
The purchase is noteworthy from a market standpoint since it took place while Ethereum was still in a more general downward trend. Despite a recent stabilization around $1,600, the asset is still below its major moving averages. Such circumstances might present an opportunity for treasury-focused buyers to make purchases before sentiment improves.
It is unclear whether SharpLink will eventually surpass Strategy in Ethereum holdings. Nonetheless, it is evident that the business is gradually becoming one of the biggest publicly visible corporate ETH holders, and its most recent $46.7 million acquisition reinforces this commitment.
Ethereum is trading at $1,583 on June 28, 2026 — up 0.06% — consolidating above MA(7) at $1,575 and MA(25) at $1,582 for the first time since the June selloff began. The 1H chart shows ETH has reclaimed both short-term moving averages and is approaching MA(99) at $1,591 — the last resistance before the $1,600–$1,611 zone. The $1,512 cycle low established on June 26 has now held across three consecutive sessions, and volume has dropped 85% from the June 26 capitulation peak — a classic post-capitulation base-building signature.
Key Takeaways ETH is at $1,583 on June 28, up 0.06%; 24H high $1,611, 24H low $1,562 Price is above MA(7) at $1,575 and MA(25) at $1,582 — first bullish MA alignment since June correction began MA(99) at $1,591 is the next resistance; a close above it opens $1,600–$1,611 Cycle low $1,512 (June 26) has held across three sessions — base formation in progress Fear & Greed Index at 18 (Extreme Fear) — cycle low; yesterday was 15, last week was 23 BitMine now embedded in Russell 1000 with 5.67M ETH (4.7% supply); 86% staked — $233M projected annual revenue Glamsterdam upgrade targeting Q3 2026 mainnet: 78.6% gas fee reduction, 10,000 TPS Ethereum Foundation 40% spending cut confirmed — treasury sell pressure structurally reduced Ethereum Price Metrics — June 28, 2026 MetricValueETH Price (current)$1,58324h Change+0.06%24h High$1,61124h Low$1,562Cycle Low (June 26)$1,512MA(7)$1,575MA(25)$1,582MA(99)$1,591Key Resistance$1,591 (MA(99)) → $1,600–$1,611Key Support$1,562 (24H low) → $1,512 (cycle low)Market Cap~$191BCirculating Supply120.68M ETHATH (Aug 24, 2025)$4,951.66ATH Drawdown~68% ETH Reclaims MA(7) and MA(25) — First Bullish Signal Since June Selloff The June 28 1H chart is the most constructive ETH technical setup since the correction began. Price at $1,583 sits above MA(7) at $1,575 and MA(25) at $1,582 — the first time ETH has held above both short-term moving averages simultaneously since the June 22–24 recovery attempt failed at $1,693. The MA structure is flattening: MA(7) is rising, MA(25) is rising, and MA(99) at $1,591 is the only remaining resistance within the $1,580–$1,600 range.
A sustained close above MA(99) at $1,591 would be the first confirmed bullish signal on the 1H chart in two weeks, opening the $1,600–$1,611 resistance zone. The 24H high of $1,611 is the immediate ceiling; a break above it would be the first higher high since the correction began and would shift the daily structure from bearish to neutral.
The volume picture confirms base-building rather than distribution: the June 26 capitulation session generated the highest volume of the correction, and each subsequent session has seen sharply declining volume — exactly the pattern seen at major cycle lows where sellers exhaust themselves on the capitulation day and subsequent sessions see decreasing participation.
Support and Resistance — June 28 LevelType$1,611Resistance — 24H high / key breakout level$1,600Resistance — psychological level$1,591Resistance — MA(99)$1,583Current price$1,582Support — MA(25)$1,575Support — MA(7)$1,562Support — 24H low$1,512Support — June 26 cycle low (structural floor)$1,480–$1,500Support — next major demand zone Fear & Greed at 18: Sentiment vs Price Divergence The Fear & Greed Index printed 18 on June 28 — down from 23 last week, 15 yesterday, 18 today. All four readings are in Extreme Fear, meaning crypto sentiment has been maximally compressed for at least 30 days. For Ethereum specifically, the divergence between sentiment (at cycle lows) and price (holding above the June 26 low for three sessions) is the most important signal to track.
When the Fear & Greed makes new lows while price holds above prior lows, that divergence historically resolves to the upside. ETH at $1,583 — above MA(7) and MA(25), three sessions above the $1,512 cycle low — while the index reads 18 is the clearest version of this divergence seen in the current cycle.
BitMine Russell 1000: Permanent Structural Demand Embedded BitMine officially joined the Russell 1000 at market close on June 26 with 5.67 million ETH — 4.7% of all circulating supply. Of that, 4.88 million ETH (86%) is actively staked, generating a projected $233 million in annual staking revenue. Every passive index fund benchmarked against the $4+ trillion Russell 1000 now holds BMNR proportionally — embedding indirect ETH exposure across the broadest institutional equity benchmark in the world.
The structural significance is long-term and compounding: as BitMine’s staking revenue accumulates, the company has a financial incentive to continue holding and staking rather than selling. The 86% staking ratio means the effective liquid supply of ETH controlled by BitMine is less than 800,000 ETH — the rest is validator-locked and cannot be sold without an unstaking queue that takes days to weeks.
Glamsterdam Q3 2026: The Upgrade That Changes the Competitive Landscape Ethereum’s Glamsterdam upgrade — targeting Q3 2026 mainnet — aims to cut gas fees by 78.6% and push throughput to 10,000 transactions per second. If delivered on schedule, Glamsterdam would be the single most significant technical development for Ethereum since The Merge in September 2022 and would meaningfully shift the competitive calculus between Ethereum, Solana, and BNB Chain for DeFi and stablecoin settlement activity.
The Q3 2026 timeline means testnet milestones should begin appearing in July and August — providing incremental positive catalysts for ETH price independent of macro conditions or CLARITY Act timing.
Ethereum Foundation Spending Cut: Sell Pressure Structurally Reduced The Ethereum Foundation’s confirmed 40% spending cut removes a persistent source of structured selling pressure from the ETH market. Foundation treasury sales — historically a reliable overhead supply — have been a known headwind for ETH price through 2024–2026. The 40% reduction does not eliminate foundation selling, but it meaningfully reduces the predictable supply overhang that institutional traders model into their ETH positioning.
Combined with the EIP-1559 fee burn mechanism — which continues to remove ETH from circulation with every transaction — the spending cut tightens the net supply dynamic from both the issuance and the distribution sides simultaneously. For real-time ETH burn data, see Ultrasound.money.
Ethereum Price Comparison AssetPrice (June 28)24hBitcoin (BTC)~$60,2510.00%Ethereum (ETH)$1,583+0.06%XRP~$1.05–0.22%Solana (SOL)~$71.66–0.01%BNB~$556–1.32%TRON (TRX)~$0.3215+0.27% Where to Buy Ethereum Binance — deepest ETH/USDT liquidity globally. Bybit — spot and perpetual ETH pairs. Coinbase — US-regulated, ETH staking available on platform. Kraken — strong compliance record, ETH staking with competitive APY. KuCoin — broad ETH pair selection. Gate.io — wide token range. OKX — spot and futures ETH trading. Uniswap — leading decentralized exchange for ETH and ERC-20 tokens directly from self-custody.
FAQ What is Ethereum’s price today, June 28, 2026?
Ethereum is trading at $1,583 on June 28, 2026, up 0.06% over 24 hours. The 24H range is $1,562–$1,611. Price has reclaimed MA(7) at $1,575 and MA(25) at $1,582 — the first bullish MA alignment on the 1H chart since the June correction began. MA(99) at $1,591 is the next resistance. The $1,512 cycle low from June 26 has held across three consecutive sessions, forming a potential technical base. A close above $1,591 opens $1,600–$1,611.
Why is the Fear & Greed Index at 18 and what does it mean for Ethereum?
The Fear & Greed Index at 18 (Extreme Fear) is the deepest reading of the current 2026 correction cycle — down from 23 last week and 15 yesterday. For Ethereum, the critical observation is the divergence between sentiment (at cycle lows) and price (holding above the $1,512 June 26 low for three sessions). When the Fear & Greed makes new lows while price holds, the divergence historically resolves to the upside. ETH’s reclaim of MA(7) and MA(25) on June 28 adds technical confirmation to this sentiment-vs-price divergence signal.
What is the BitMine Russell 1000 inclusion and why does it matter for ETH?
BitMine joined the Russell 1000 at market close on June 26 with 5.67 million ETH — 4.7% of all circulating supply. Every passive index fund tracking this $4+ trillion benchmark now holds BMNR proportionally. BitMine has staked 86% of its ETH (4.88 million ETH), generating a projected $233 million in annual staking revenue. The structural significance: 86% of BitMine’s ETH is validator-locked and cannot be sold quickly, permanently removing that supply from short-term market pressure while embedding indirect ETH demand into the world’s broadest passive equity benchmark.
What is the Glamsterdam upgrade?
Glamsterdam is Ethereum’s next major protocol upgrade, targeting Q3 2026 mainnet. It aims to cut gas fees by 78.6% and push throughput to 10,000 transactions per second — the most significant execution-layer improvement since The Merge. Testnet milestones are expected to begin appearing in July and August 2026, providing incremental positive catalysts for ETH price independent of macro or regulatory developments. Successful mainnet delivery would shift the competitive calculus between Ethereum, Solana, and BNB Chain for DeFi and stablecoin settlement activity.
What is Ethereum’s all-time high?
Ethereum’s all-time high is $4,951.66, reached on August 24, 2025. As of June 28, 2026, ETH trades approximately 68% below that record at $1,583. The 2026 cycle low is $1,512, printed intraday on June 26 — three sessions ago and not retested since.
28 June 2026 | 13:38 Ethereum is ending the second quarter of 2026 in a rough spot: two consecutive double-digit negative quarters, a market cap that has slipped out of the global top 100 assets, and a derivatives market where buyers are present but unable to push price higher.
Key Takeaways Ethereum is closing Q2 2026 with two straight double-digit negative quarters. Its market cap has fallen out of the global top 100 assets. Buyers are active in derivatives, but price isn’t responding. The only comparable back-to-back negative Q1 and Q2 were in 2022; 2018 remains the sharpest downside risk scenario for what follows. One of the most telling signals is in the order flow. The Taker Buy/Sell Ratio sits at 1.13, meaning aggressive buyers are outnumbering sellers on Binance. Normally that pushes price up. It isn’t. The Fund Price at $12.59 has been declining since April despite that buying pressure, and that combination is the problem.
What it points to is absorption: the sell orders are large enough to neutralize the incoming buy flow without price responding. When buying pressure exists but price stays flat or falls, the more likely explanation, as the analysis frames it, is distribution, larger holders using bounces to exit, rather than accumulation building a base. It’s worth being precise that order-flow data can’t name who is selling; what it shows is buying being absorbed, and distribution is the reading that best fits that behavior.
On-chain data confirms who is doing the selling. Crypto analyst Ali Charts wrote on X that large-scale holders offloaded roughly 550,000 ETH over the past week, injecting $880 million in sell-side supply into the market. That selling pressure pushed ETH below its immediate $1,633 support floor, with the market now testing critical volume support at $1,583. According to URPD data cited by Ali Charts, losing that level opens a path toward extended liquidations, with the next high-volume demand zones sitting at $1,237 and $1,089 if distribution continues into next week.
2026 in Historical Context The quarterly numbers put the weakness in perspective. Q1 2026 finished at -29.26% and Q2 at -24.75%. The only year in ETH’s recorded history with a comparable back-to-back negative Q1 and Q2 was 2022, which posted -10.75% and -67.34% respectively. 2018 had a positive Q2 (+15.29%) before collapsing in Q3 (-48.69%) and Q4 (-41.62%), making it the relevant downside risk scenario rather than a structural match. In every other year that opened with a negative Q1, ETH recovered in Q2. 2026 has not followed that pattern.
Year Q1 Q2 Q3 Q4 2018 -46.61% +15.29% -48.69% -41.62% 2022 -10.75% -67.34% +24.09% -9.94% 2026 -29.26% -24.75% — — That matters for what comes next. The historical Q3 average is +7.4% with a median of +8.19%, and Q3 has been positive in the majority of recorded years, which may normally be an encouraging base rate. But there is some exceptions: in 2018 for example, Q3 came in at -48.69%. So the historical record cuts both ways, the typical Q3 is positive, but still sometimes it was sharply negative.
The Top-100 Milestone ETH falling out of the global top 100 assets by market cap isn’t a separate event, it’s a direct consequence of the price decline. It’s a measure of how far Ethereum’s market cap has compressed relative to the full universe of global assets, equities, commodities, and everything else ranked by size. The milestone is symbolic rather than mechanical, but it captures how much ground the asset has given up.
🚨 WILD: Ethereum is no longer a top 100 asset ranked by market cap. pic.twitter.com/9IRIBJMkq6
— Cointelegraph (@Cointelegraph) June 27, 2026
Pulling it together: the order flow shows buyers active but unable to move price, which most plausibly reflects larger holders distributing into strength; the quarterly record shows a two-quarter decline matched structurally only by 2022, with 2018 providing the sharpest downside risk scenario for what follows; and the market-cap milestone underlines the scale of the compression. None of this predicts where ETH goes next. The data describes a market under real structural pressure, with a forward path that the history can frame but not settle.
The signal worth watching into July is straightforward: whether this absorption pattern breaks toward heavier selling, or whether the steady buyer flow finally overcomes the resistance that has been capping it. That probably could give a sign on which way the pressure is resolving.
Ethereum is trading for $1,570 at the time of writing after 6.7% drop for the past 7 days, according to CoinMarketCap data.
This article is for informational purposes only and does not constitute financial advice. Consult a professional before making investment decisions.
Author
Alex is Editor-in-Chief of Coindoo and co-founder of Millennial Media Group, with nearly a decade of experience covering financial markets - crypto first, then everything else. It started in 2016 with Bitcoin. Like most people at the time, he didn't fully understand it - so he kept digging. Blockchain, tokenomics, the projects, the cycles. That curiosity never stopped, and eventually pulled him into traditional markets too: equities, commodities, macro. Not because he left crypto behind, but because you can't properly understand one without the other. What drives him is straightforward: he wants to know why something is happening, not just that it's happening. Most market coverage stops at the headline - price up, price down, here's a chart. Alex finds that kind of reporting actively unhelpful. If you walk away from an article without understanding the mechanism behind the move, what did you actually learn? He holds a degree in Tourism from New Bulgarian University - not the most obvious path into financial markets, but markets have a way of pulling in people who are simply too curious to stay out. He has authored over 200 in-depth analyses and more than 10,000 articles across crypto and traditional finance. He still thinks every day in markets teaches him something new. That's probably why he hasn't stopped.
28 June 2026 | 13:38 Ethereum is ending the second quarter of 2026 in a rough spot: two consecutive double-digit negative quarters, a market cap that has slipped out of the global top 100 assets, and a derivatives market where buyers are present but unable to push price higher.
Key Takeaways Ethereum is closing Q2 2026 with two straight double-digit negative quarters. Its market cap has fallen out of the global top 100 assets. Buyers are active in derivatives, but price isn’t responding. The only comparable back-to-back negative Q1 and Q2 were in 2022; 2018 remains the sharpest downside risk scenario for what follows. One of the most telling signals is in the order flow. The Taker Buy/Sell Ratio sits at 1.13, meaning aggressive buyers are outnumbering sellers on Binance. Normally that pushes price up. It isn’t. The Fund Price at $12.59 has been declining since April despite that buying pressure, and that combination is the problem.
What it points to is absorption: the sell orders are large enough to neutralize the incoming buy flow without price responding. When buying pressure exists but price stays flat or falls, the more likely explanation, as the analysis frames it, is distribution, larger holders using bounces to exit, rather than accumulation building a base. It’s worth being precise that order-flow data can’t name who is selling; what it shows is buying being absorbed, and distribution is the reading that best fits that behavior.
On-chain data confirms who is doing the selling. Crypto analyst Ali Charts wrote on X that large-scale holders offloaded roughly 550,000 ETH over the past week, injecting $880 million in sell-side supply into the market. That selling pressure pushed ETH below its immediate $1,633 support floor, with the market now testing critical volume support at $1,583. According to URPD data cited by Ali Charts, losing that level opens a path toward extended liquidations, with the next high-volume demand zones sitting at $1,237 and $1,089 if distribution continues into next week.
2026 in Historical Context The quarterly numbers put the weakness in perspective. Q1 2026 finished at -29.26% and Q2 at -24.75%. The only year in ETH’s recorded history with a comparable back-to-back negative Q1 and Q2 was 2022, which posted -10.75% and -67.34% respectively. 2018 had a positive Q2 (+15.29%) before collapsing in Q3 (-48.69%) and Q4 (-41.62%), making it the relevant downside risk scenario rather than a structural match. In every other year that opened with a negative Q1, ETH recovered in Q2. 2026 has not followed that pattern.
Year Q1 Q2 Q3 Q4 2018 -46.61% +15.29% -48.69% -41.62% 2022 -10.75% -67.34% +24.09% -9.94% 2026 -29.26% -24.75% — — That matters for what comes next. The historical Q3 average is +7.4% with a median of +8.19%, and Q3 has been positive in the majority of recorded years, which may normally be an encouraging base rate. But there is some exceptions: in 2018 for example, Q3 came in at -48.69%. So the historical record cuts both ways, the typical Q3 is positive, but still sometimes it was sharply negative.
The Top-100 Milestone ETH falling out of the global top 100 assets by market cap isn’t a separate event, it’s a direct consequence of the price decline. It’s a measure of how far Ethereum’s market cap has compressed relative to the full universe of global assets, equities, commodities, and everything else ranked by size. The milestone is symbolic rather than mechanical, but it captures how much ground the asset has given up.
🚨 WILD: Ethereum is no longer a top 100 asset ranked by market cap. pic.twitter.com/9IRIBJMkq6
— Cointelegraph (@Cointelegraph) June 27, 2026
Pulling it together: the order flow shows buyers active but unable to move price, which most plausibly reflects larger holders distributing into strength; the quarterly record shows a two-quarter decline matched structurally only by 2022, with 2018 providing the sharpest downside risk scenario for what follows; and the market-cap milestone underlines the scale of the compression. None of this predicts where ETH goes next. The data describes a market under real structural pressure, with a forward path that the history can frame but not settle.
The signal worth watching into July is straightforward: whether this absorption pattern breaks toward heavier selling, or whether the steady buyer flow finally overcomes the resistance that has been capping it. That probably could give a sign on which way the pressure is resolving.
Ethereum is trading for $1,570 at the time of writing after 6.7% drop for the past 7 days, according to CoinMarketCap data.
This article is for informational purposes only and does not constitute financial advice. Consult a professional before making investment decisions.
Author
Alex is Editor-in-Chief of Coindoo and co-founder of Millennial Media Group, with nearly a decade of experience covering financial markets - crypto first, then everything else. It started in 2016 with Bitcoin. Like most people at the time, he didn't fully understand it - so he kept digging. Blockchain, tokenomics, the projects, the cycles. That curiosity never stopped, and eventually pulled him into traditional markets too: equities, commodities, macro. Not because he left crypto behind, but because you can't properly understand one without the other. What drives him is straightforward: he wants to know why something is happening, not just that it's happening. Most market coverage stops at the headline - price up, price down, here's a chart. Alex finds that kind of reporting actively unhelpful. If you walk away from an article without understanding the mechanism behind the move, what did you actually learn? He holds a degree in Tourism from New Bulgarian University - not the most obvious path into financial markets, but markets have a way of pulling in people who are simply too curious to stay out. He has authored over 200 in-depth analyses and more than 10,000 articles across crypto and traditional finance. He still thinks every day in markets teaches him something new. That's probably why he hasn't stopped.
Two consecutive mainnet outages hit Coinbase-incubated Layer 2 network Base on June 25 and 26, with the same sequencer block‑building bug responsible for both disruptions. The first lasted approximately 116 minutes; the second, 20 minutes. According to the official post‑mortem surfaced by WuBlockchain, stale journal state persisted after a failed transaction, producing a block with an invalid state transition that halted the chain. No user funds were affected.
Base’s team quickly fixed the bug and outlined improvements to fuzz testing, load testing, monitoring, and network recovery. Yet the episode does more than demonstrate normal software bugs: it exposes the fragility that still underpins a rollup handling significant DeFi volume and institutional attention.
The Bug That Took Base Offline Sequencers are the heartbeat of an optimistic rollup, ordering transactions and proposing blocks to the base layer. In Base’s case, the same flaw triggered both outages when a failed transaction left the internal journal in a stale state. The sequencer then built a new block using that outdated state, creating an invalid chain transition. Because the network relies on a single sequencer—currently operated by Coinbase—the invalid block propagated and forced a halt.
While base‑layer Ethereum would have simply orphaned a flawed block via consensus, L2s lack that distributed safeguard at the sequencer level. A bug in the ordering node can freeze the entire chain, as it did here. The fact that the same root cause struck twice within 24 hours suggests the initial patch may not have fully addressed the journal‑state logic.
The 136 total minutes of downtime are non‑trivial. For a platform that processes daily active addresses in the hundreds of thousands, any interruption ripples through DeFi protocols, perpetual exchanges, and NFT marketplaces that rely on Base for finality. Liquidations, oracle updates, and bridging transactions all pause, creating potential MEV and pricing distortions once the network resumes.
Sequencer Reliance and Centralization Risks Base’s architecture highlights a broader L2 design choice: centralized sequencers deliver fast block times and predictable MEV capture but introduce a single point of failure. Competitors like Arbitrum and Optimism have begun moving toward decentralized sequencer sets, but Base remains in a transitional phase. The outage is a stark reminder that until failover mechanisms are live, a single software bug can halt the entire chain.
Markets have largely priced in this risk, but the event may amplify calls for sequencer decentralization. The broader L2 ecosystem has seen teams like Arbitrum push updates with high developer activity, as tracked in recent rankings of top blockchains by developer activity. Base, despite its user growth, now faces fresh scrutiny on whether its infrastructure matches its ambitions.
Moreover, the timing coincides with an inflection point for on‑chain real‑world assets. Tokenized treasuries and private credit have crossed $20 billion in total value, as detailed in a recent tokenization roundup. While Base primarily serves crypto‑native use cases today, any L2 aiming to attract institutional settlement must demonstrate mainnet‑grade reliability. A 116‑minute hard stop would be unacceptable for securities settlement.
Base’s engineering response focuses on protocol‑level fuzz testing—feeding unexpected inputs to the sequencer to catch edge cases before they reach production—alongside expanded load testing and faster network recovery pathways. The team acknowledged the need to simulate failed‑transaction scenarios more aggressively. These are sensible stops, but they do not eliminate the risk inherent in a single‑sequencer design.
What remains uncertain is whether future upgrades will introduce a fallback sequencer or decentralized ordering layer. For now, the network’s uptime depends entirely on the robustness of Coinbase’s infrastructure and the thoroughness of its testing suite. Another similar bug that escapes detection could trigger longer outages or, in a worst case, a network halt requiring a manual reset.
The market impact was muted, partly because no funds were lost and the bug was transparently disclosed. Still, users and protocol developers may reconsider their contingency plans when operating on Base. Bridging delays, oracle freezes, and DeFi position liquidations during downtime are real tail risks that cannot be hedged away easily. As L2s absorb an ever‑larger share of on‑chain activity, such operational hiccups become less a technical footnote and more a market‑structure concern.
AUTHOR
Brenda is a writer with three years of experience specializing in cryptocurrency, artificial intelligence and emerging technologies. She graduated from the University of Mombasa with a degree in Psychology. She has worked at Cryptopolitan and Blockchain Reporter.
Institutional appetite for Ethereum [ETH] continues to weaken as investors reduce exposure to risk assets amid uncertain market conditions. U.S. spot ETH ETFs recently recorded another $12.85 million in net outflows, extending a broader slowdown in fund demand despite cumulative net inflows remaining near $11 billion.
With this reduction, there will be less institutional capital available to buy Ethereum to help stabilize prices as they continue to decline.
Source: SoSoValue As such, Ethereum now relies more heavily on staking demand, layer-2 activity, and natural organic spot buying to help stabilize prices. If Ethereum network demand increases, then it is possible that the markets can begin to absorb some excess supply.
However, if institutional demand does not increase, then we should expect longer-term consolidation and increased vulnerability to sentiment-driven price movements.
ETH bears retain control despite buying pressure Institutional demand has already weakened, and derivatives activity now suggests bearish conviction is strengthening. Market structure may be decisively bearish unless spot flows and leverage flows simultaneously turn positive again.
Meanwhile, the fund price has declined steadily from its April peak to 12.59. This dynamic reflects a fading appetite for leveraged long positions. Moreover, this divergence shows that buyers, though appearing more aggressive, are becoming less effective, leaving bears firmly in control of short‑term price action.
Source: Arkham Although moving assets to this new address does not necessarily indicate that the person behind the transaction is planning to sell their asset. Yet, previous instances of like-sized on-chain asset movements have occurred before liquidity events, making subsequent wallet activity the key signal to monitor.
If the funds remain in self-custody, the transfer will likely reflect routine wallet management. However, deposits to exchanges or OTC counterparties could reinforce existing bearish sentiment and increase expectations of additional selling pressure.
Final Summary Ethereum remained vulnerable as weakening institutional demand and bearish market structure continue limiting recovery momentum. ETH needs stronger spot demand to offset selling pressure and restore sustained bullish momentum.
Let me tell you about a warning that slipped under the radar this week, because while everyone was staring at Ethereum’s price, someone on the inside was quietly raising a flag about something more important.
But first, the price, since I know that is why you are here. ETH is sitting at $1,581, basically flat on the day but down a painful 8.4% on the week, the weakest of the major coins over the past seven days (live ETH price on CoinGecko). It is hovering near a support zone it has tested too many times for comfort. That is the surface story. Here is the one underneath.
The insider warning This week, a former member of the Ethereum Foundation, the nonprofit that has steered Ethereum’s development for years, went public with a concern. As the Foundation steps back from its traditional role and governance shifts to new structures, he warned that Ethereum needs to quickly build new funding institutions to fill the gap, or risk a shortfall in how core development gets paid for.
Think about what that means for a second. Ethereum is not run by a company. There is no CEO writing checks to developers. For years, the Foundation has been the entity making sure the people who build and maintain Ethereum get funded. Now that the Foundation is deliberately pulling back, the question becomes: who pays for the work? If new funding institutions do not stand up fast enough, you could get a gap, a period where critical development is underfunded right as Ethereum is trying to scale.
That is the warning. And it matters because it is structural, not about this week’s candle. It is about who keeps the lights on for the next few years.
Why I am not panicking about it Here is the balance, though, because I do not want to leave you with just the scary part. A funding gap warning is a call to action, not a death sentence, and Ethereum has navigated transitions before.
The on-chain reality is actually encouraging. Ethereum’s active addresses have hit cycle highs, meaning more people are using the network than at almost any point this cycle, even with the ugly price. Treasury companies are still buying ETH by the millions despite sitting on losses, betting on Ethereum as long-term infrastructure. And the Glamsterdam upgrade keeps hitting real performance milestones on its test networks. The technology and the usage are moving forward. The warning is about making sure the funding structure keeps pace, and now that it is out in the open, the community can actually address it.
So I read this less as “Ethereum is in trouble” and more as “an insider just told everyone what to fix.” That is healthy, even if it is uncomfortable.
The supply story is still quietly building One more thing worth your attention, because it keeps not getting priced in. The amount of ETH sitting on exchanges remains near record lows, and the share locked in staking is near record highs. Less ETH available to sell, more of it locked away. That is a supply squeeze building in the background while the price does the opposite.
In a calm market, that tightening would matter. Right now, fear from Bitcoin’s slide to a 20-month low is drowning it out, and ETH, which always moves harder than Bitcoin, is getting hit extra hard. But supply squeezes are patient. They wait. And when sentiment finally turns, a market this tightly wound can move fast.
The levels I am watching Below, the zone around $1,500 is the line. It has held repeatedly, but every test wears it down, so I would not treat it as bulletproof. If it goes, lower levels open up. Above, ETH needs to climb back over $1,700, then $1,800, and the real milestone is reclaiming $2,000, the level it lost on the way down. Get back above $2,000 and you can argue the supply squeeze is finally showing up where it counts.
Where this leaves us Ethereum at $1,581 looks weak, and the near-term trend genuinely is, dragged down by a fearful market and ETH’s habit of falling harder than the rest. I will not pretend otherwise.
But keep your ear to the ground. An insider just flagged a funding gap the community needs to solve, usage is at cycle highs, and a supply squeeze is quietly building that almost nobody is pricing in. Watch $1,500 below and $2,000 above. The price is loud and ugly right now, but the more interesting Ethereum story is the quiet one playing out underneath it.
FAQ What is the Ethereum price today?
Ethereum is trading around $1,581 on June 28, 2026, roughly flat on the day but down 8.4% on the week, the weakest major coin over the past seven days, hovering near the $1,500 support zone.
What is the Ethereum Foundation funding warning?
A former Ethereum Foundation member warned that as the Foundation steps back from its traditional role, Ethereum must quickly build new funding institutions to pay for core development, or risk a funding gap during the governance transition.
Why is Ethereum falling more than other coins?
Ethereum is a higher-beta asset that falls harder than Bitcoin in selloffs. With Bitcoin at a 20-month low and a fearful market, ETH took the worst weekly hit among majors, even as its on-chain usage hit cycle highs.
What are the key Ethereum levels to watch?
The key support is around $1,500, which has held repeatedly but weakens with each test. Above, ETH needs to reclaim $1,700, then $1,800, and the key $2,000 level it lost in the selloff.
Is Ethereum still a good long-term hold?
Ethereum’s usage is at cycle highs, treasury firms keep accumulating, and upgrades progress, but the funding-gap warning is a real structural question to watch. The supply squeeze is also building. This is not investment advice; assess your own risk tolerance.
AUTHOR
Simeon is a detail-driven editor who sharpens every piece with clarity and precision, ensuring clean, consistent, and professional content throughout.
The investigations into the 2026 exploits targeting the Kelp DAO and Humanity Protocol have taken on a new dimension as a result of the most recent on-chain activity.
ZachXBT, a blockchain analyst, noticed that money taken from the two different attacks had recently been mixed.
This suggests that assets from both exploits were moved through the same wallet or transaction flow. Interestingly, this also reveals a connection between the attackers.
How much of the stolen funds were moved? The Humanity Protocol attacker transferred 15,403 ETH, worth $23.6 million, to a relatively new Ethereum [ETH] address, according to Specter. After that, the money was transferred to the Bitcoin [BTC] network, where it was combined with earnings linked to the KelpDAO exploit.
As of now, over $8 million of the stolen money has been laundered by the Humanity Protocol attacker.
For context, the Lazarus Group uses this well-known tactic to combine the profits from various operations into one Bitcoin wallet before transferring them via mixers and over-the-counter desks.
That said, the Kelp DAO exploit drained about $292 million from its LayerZero bridge in April 2026.
Meanwhile, Humanity Protocol lost about $32 million in June. This happened when the hackers gained access to the deployer account and team-controlled wallets via a developer’s compromised device.
Is the exploit linked to the Lazarus Group? Until now, the Humanity Protocol hack had raised suspicions that insiders might have been involved in the attack.
However, the new combination with the Kelp DAO exploit’s laundering trail points to a shared external threat actor or closely related cybercriminal network.
Since the funds were associated with North Korea, the plaintiff argued, they were entitled to confiscate any funds belonging to North Korean-affiliated organizations as part of the money owed in unpaid judgments.
Plaintiffs currently own over $877 million in unpaid judgments against North Korea from U.S. courts.
The continuing risk in DeFi This commingling occurs at a time when MEV bots are also growing in power in on-chain markets.
While these automated systems have now made the market more efficient, the Jaredfromsubway.eth incident shows how skilled attackers can still manipulate even highly specialized trading infrastructure.
Together, these attacks highlight the rising security threats DeFi faces. While all this happens, ETH’s price also fell to an intraday low of $1,581.76 amid the wider market decline.
Final Summary Stolen funds from both Kelp DAO and the Humanity Protocol exploit have been reported to have been commingled. As of the last update, over $8 million of the stolen money has been laundered by the Humanity Protocol attacker.
Dogecoin (DOGE) is once again approaching a significant support zone, boosting short-term recovery expectations among investors. Analysts say continued buying appetite in the market could drive further upward movement, but a weaker outlook in Bitcoin may delay this scenario.
Short-term recovery expected in priceAt the time of writing, DOGE was trading at $0.07546. In the past 24 hours, its trading volume reached $537.11 million, and its total market capitalization stood at $11.68 billion. The 3.21% increase recorded during this period is seen by analysts as a potential indicator for a shift in market direction.
According to CoinCodex data, Dogecoin’s price is expected to reach $0.08045 within the next month, representing a 6.89% increase from current levels. These forecasts suggest that if sentiment in the digital asset market gradually improves, DOGE could post modest additional gains in the near term.
CoinCodex reports indicate Dogecoin could climb to $0.08045 in the next month, reflecting a 6.89% rise from its current value.
Since launching in 2013, Dogecoin has gained a broad community following, making it a unique cryptocurrency. Its price movements are often influenced not only by technical markers but also by overall market sentiment and investor interest.
Historical support zone back in focusCrypto analyst Aman notes that Dogecoin is once again testing a historically significant demand area that previously triggered strong price rebounds. This region attracted intense buying interest in earlier cycles and is now being closely monitored by market observers.
Analysts believe that if buyers can defend this crucial zone, Dogecoin may attempt a stronger rally. In such a scenario, the $0.50 level is highlighted as a key mid-term target. However, for this positive outlook to materialize, DOGE must not only maintain support but also break through major resistance levels ahead.
Impact of Bitcoin remains decisiveMarket experts emphasize that any potential rally in Dogecoin is likely to be influenced by the broader cryptocurrency trend. In particular, any decline in Bitcoin could suppress DOGE’s attempts to rise.
While the response from the support zone is noteworthy, analysts caution that it is too early to confirm a sustained breakout. If the cautious mood persists in the cryptocurrency market, potential upward movements in DOGE may prove temporary and could eventually turn into false signals.
Dogecoin’s future price direction thus remains dependent on broader market dynamics and the ability of buyers to maintain momentum at critical levels. As sentiment shifts, so too may the prospects for recovery or further correction.
In summary, while short-term optimism surrounds Dogecoin at its current price, traders remain alert to resistance levels and Bitcoin’s ongoing influence on the market. Many continue to monitor the pivotal support zone for signs of further movement.
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.
SecondFi says it remains on track to recover user assets after a Cardano wallet exploit drained about $2.4 million in ADA.
Summary
SecondFi says its recovery plan remains on track while engineers test several secure return methods. The exploit drained 16 million ADA from 374 addresses through flawed wallet generation software code. Users now face fresh scam risks as fake recovery accounts target affected Cardano wallet holders. The latest update comes as users wait for a wallet check tool and clear steps to move assets safely.
SecondFi says recovery work remains on track SecondFi said its recovery process is still moving within the estimated two-week timeline. The team said engineers are working on several technical routes at the same time to choose the safest recovery method for affected users.
🛡 Recovery Process Status
The team remains on track against the estimated 2-week recovery timeline, with substantial progress continuing as engineering teams work through multiple technical approaches in parallel to determine the most secure recovery solution for affected… pic.twitter.com/79TKaoVJyD
— SecondFi (@secondfiapp) June 28, 2026 The project said it plans to release a tool by early next week that will let users check whether their wallet was affected. It also said it will later share a secure process that lets users move assets out of the platform.
SecondFi warned that no recovery step needing user action has started. It told users to leave wallets untouched until official instructions arrive and said it will never ask for private keys, seed phrases, wallet credentials or asset transfers.
The latest notice followed another warning about rising scam activity. SecondFi said fake accounts and impersonators have been targeting users after the exploit. It also told users not to deposit more funds into existing SecondFi wallets until further notice.
Exploit drained 16 million ADA from 374 addresses The case began after attackers drained about 16 million ADA from 374 addresses between June 21 and June 23. The value stood near $2.4 million at the time of the reported theft.
SecondFi has linked the issue to its own Cardano wallet generation software. As crypto.news reported, the project said the problem was limited to its native Cardano web wallet generation software and that affected services had been paused.
EMURGO CEO Phillip Pon later said the company had completed a forensic review, checked wallet balances and found what he called a “clear recovery solution.” The company expects one week to build the recovery system and another week to test it before returns begin.
SecondFi also moved about 129 million ADA to an independent third-party custodian as an emergency measure. The company said it took that step to keep more assets away from attackers while it reviewed the breach.
Outside report questions wallet code A report from Tibane Labs gave a more detailed account of the possible technical fault. The firm said the breach came from an unaudited third-party SDK that replaced EMURGO’s audited signing code on June 8.
Security researcher Taylor Monahan also criticized the wallet code, saying SecondFi “rolled their own crypto.” The comment added pressure on the project because Yoroi, now SecondFi, had served Cardano users for years before the rebrand.
The full cause still needs an official technical report from EMURGO or SecondFi. Until then, users only have public updates, outside analysis and the project’s recovery notices to follow.
Users wait for wallet checker and safe exit steps SecondFi’s next key step is the wallet check mechanism expected by early next week. That tool should help users know whether they are part of the affected group before any recovery action begins.
The project has asked users to use only official channels and support tickets. That warning matters because wallet hacks often attract fake recovery links, phishing forms and accounts asking for seed phrases.
For now, affected users should not sign new transactions or move assets without official guidance. SecondFi says the recovery depends on the current state of compromised wallets, so early action may create more risk.
The case now tests whether SecondFi can return funds safely while explaining what failed. It also adds fresh concern for Cardano users as ADA trades near multi-year lows and wallet security remains under review.
Key Takeaways BNB serves multiple functions including trading fee reductions, staking rewards, DeFi applications, gaming utilities, and payment solutions within Binance’s infrastructure Regular token burn events each quarter progressively decrease BNB’s circulating supply, aiming to halve the total from 200 million down to 100 million coins Conservative projections for 2031 place BNB between $1,200–$1,800, assuming steady market conditions without major disruptions Optimistic scenarios suggest $2,500–$4,000 valuations if BNB Chain gains widespread adoption and institutional interest accelerates Regulatory challenges pose the greatest threat, with pessimistic forecasts estimating $400–$600 price levels Binance Coin has consistently ranked among the strongest-performing major cryptocurrencies in recent years. Projecting its value through 2031 requires examining several critical variables.
BNB Price BNB maintains an intrinsic connection to the Binance platform. Countless traders hold the token to benefit from reduced transaction fees, participate in initial exchange offerings, cover network fees on BNB Chain, and utilize various Binance services.
This practical use case provides BNB with tangible value that distinguishes it from purely speculative digital assets.
$BNB 10-Year Roadmap: Year By Year, Built From Real History
Year Cons. Base Aggr.
2026 $583 $583 $583
2027 $630 $670 $729
2028… pic.twitter.com/7bVbpFcd7z
— Crypto Patel (@CryptoPatel) June 21, 2026
Additionally, Binance implements a systematic quarterly burn mechanism. Every three months, a portion of tokens gets permanently eliminated from the available supply. The ultimate objective is reducing total token count by 50% — decreasing from 200 million to 100 million BNB.
This deflationary mechanism, combined with sustained market demand, forms the foundation of BNB’s long-term valuation thesis.
Moderate Scenario: $1,200 to $1,800 The most probable outcome for 2031 positions BNB trading within the $1,200 to $1,800 corridor. This forecast presumes Binance maintains its position among leading cryptocurrency exchanges worldwide while digital asset adoption continues expanding at moderate rates.
This valuation bracket corresponds to a market capitalization ranging from approximately $180 billion to $270 billion. Considering the trajectory of cryptocurrency markets, these figures remain achievable.
This scenario doesn’t demand extraordinary developments. It simply requires consistent user base expansion and ongoing supply reduction through burns.
Optimistic Scenario: $2,500 to $4,000 Under favorable conditions, BNB could climb to anywhere between $2,500 and $4,000. This projection assumes heightened institutional participation in cryptocurrency markets, BNB Chain establishing itself as a dominant infrastructure for decentralized applications and commerce, and continued aggressive token burning.
Such pricing would translate to market capitalization between $375 billion and $600 billion. While substantial, these figures don’t necessitate BNB surpassing Bitcoin or Ethereum in total value.
Primary Concern: Regulatory Pressure BNB lacks the decentralized structure characteristic of Bitcoin. Its fortunes remain tightly bound to Binance’s corporate operations.
Should regulatory authorities impose restrictions on Binance across significant jurisdictions, exchange activity could decline substantially, pulling BNB demand downward correspondingly.
In a pessimistic scenario, BNB might trade between $400 and $600 by 2031.
The probability-adjusted price projection from this assessment centers around $1,650 for 2031. BNB’s future valuation depends more heavily on Binance’s operational success than on market speculation alone.
0.2. Key Takeaways0.4. Crypto Market Snapshot — June 28, 20260.6. Fear & Greed Index: 18 — Cycle Low Sentiment0.8. Bitcoin: Flat at $60,251, Tight MA Cluster Unresolved0.10. Ethereum: $1,579, Tightest MA Compression of the Cycle0.12. XRP: $1.05, Struggling to Hold Above $1.040.14. Solana: $71.66, Holding Gains From Friday's 6.71% Surge0.16. BNB: $556, Weakest Large-Cap on June 280.18. TRON: $0.3215, Only Top-8 Asset Green on Both 24h and 7d0.20. Hyperliquid: $62.89, Quietly Holding Despite Market Pressure0.22. Dogecoin: $0.07401, Worst Weekly Performer in Top 100.24. Macro Context: What Drives the Week Ahead0.26. Today's Market in One Paragraph Bitcoin is trading at $60,251 on June 28, 2026 — effectively flat on the day at 0% change — as the crypto market enters weekend trading with no directional momentum and the Fear & Greed Index falling to 18 (Extreme Fear), its lowest reading since the current correction began. Total crypto market cap holds near $2.1 trillion. Volume across the board is sharply lower: BTC volume dropped 52%, ETH volume fell 45%, SOL volume fell 51% — a pattern consistent with low-conviction weekend consolidation after last week’s high-volatility sessions.
Key Takeaways Bitcoin flat at $60,251 on June 28; total market cap ~$2.1T; Fear & Greed Index at 18 — cycle low reading ETH $1,579 (+0.08%), XRP $1.05 (–0.14%), SOL $71.66 (–0.01%), BNB $556 (–1.32%), TRX $0.3215 (+0.27%) Volume collapse across all assets: BTC –52%, ETH –45%, SOL –51% — weekend low-conviction consolidation Fear & Greed dropped from 23 last week → 15 yesterday → 18 today; all four readings Extreme Fear CLARITY Act Senate floor vote window narrows: August recess is the hard deadline; Polymarket at 48% American Reserve Modernization Act full text published — 20-year BTC lock-up confirmed TRX is the only top-8 asset in positive territory on both 24h and 7d basis — USDT settlement demand persists Crypto Market Snapshot — June 28, 2026 AssetPrice24h7dMarket CapVolume (24h)Bitcoin (BTC)$60,2510.00%–5.76%$1.2T$14.65BEthereum (ETH)$1,579+0.08%–8.47%$190.64B$5.93BTether (USDT)$0.9985+0.01%–0.03%$186.06B$36.92BBNB$556.32–1.32%–5.37%$74.98B$846.66MUSDC$0.99960.00%–0.03%$73.72B$4.87BXRP$1.05–0.22%–8.05%$65.47B$1.07BSolana (SOL)$71.66–0.01%–2.27%$41.61B$1.68BTRON (TRX)$0.3215+0.27%–1.69%$30.49B$467.04MHyperliquid (HYPE)$62.89+0.07%–7.39%$15.91B$324.93MDogecoin (DOGE)$0.07401–1.66%–10.81%$12.62B$452.07M Fear & Greed Index: 18 — Cycle Low Sentiment The Fear & Greed Index printed 18 on June 28 — the lowest reading of the current correction cycle. Yesterday’s reading was 15, the absolute bottom; last week it was 23; last month also 23. All four readings are in Extreme Fear territory, meaning crypto market sentiment has been in its worst zone for at least a full month without relief.
Historically, sustained Extreme Fear readings below 20 have appeared at or within days of major Bitcoin cycle bottoms. The 2022 bear market bottom was accompanied by a Fear & Greed reading of 6. The March 2020 COVID crash bottom saw a reading of 8. A reading of 15–18 does not guarantee a bottom — but it does signal that retail sentiment has been maximally compressed, and that the marginal seller is increasingly exhausted.
The context matters: BTC held $58,115 as its intraday low on June 26 and has not returned to that level across two subsequent sessions. A Fear & Greed reading of 18 with price holding above its recent low is a divergence — sentiment is making new lows while price holds. That divergence, if it persists, is historically one of the most reliable leading indicators of a sentiment reversal.
Bitcoin: Flat at $60,251, Tight MA Cluster Unresolved Bitcoin is trading at $60,251 on June 28 — effectively unchanged on the day — with the unresolved MA compression from Friday night still in play. MA(25), MA(7), and MA(99) remain stacked within $400 of each other above current price. Weekend volume at $14.65 billion (52% lower than yesterday) confirms this is consolidation, not distribution.
The $58,115 June 26 intraday low has now held across three consecutive sessions — a constructive technical development. Bitcoin’s 7-day performance of –5.76% reflects the June 26 capitulation day rather than the current trajectory. The week ahead — with the CLARITY Act Senate floor vote window narrowing before August recess and the American Reserve Modernization Act in committee — is the most important legislative week for BTC price in 2026.
Ethereum: $1,579, Tightest MA Compression of the Cycle Ethereum is trading at $1,579 on June 28, up just 0.08% — the quietest session since the June correction began. Volume at $5.93 billion is 45% lower than the prior session. ETH’s 7-day loss of –8.47% is the worst among the top-8 assets, reflecting the magnitude of the June 26 selloff to $1,512.
The MA compression on ETH mirrors Bitcoin: MA(25) at $1,584, MA(7) at $1,591, and MA(99) at $1,602 are all within $23 of each other. A weekend resolution above MA(99) at $1,602 would be the first bullish technical signal in two weeks. The structural demand picture remains intact: 32% of ETH supply is staked and illiquid, BitMine’s 5.67 million ETH (4.7% of supply) is now permanently embedded in Russell 1000 passive funds, and the Ethereum Foundation’s 40% spending cut has reduced treasury sell pressure.
XRP: $1.05, Struggling to Hold Above $1.04 XRP is at $1.05 on June 28, down 0.22% on the day and –8.05% on the week — the second-worst weekly performer after Ethereum among top assets. Volume at $1.07 billion is 45% below the prior session. The $1.00 psychological floor has been defended across three consecutive sessions following the $1.0092 intraday low on June 26, but the recovery momentum from Friday’s bounce to $1.0756 has faded.
XRP remains the asset most sensitive to CLARITY Act news among the top-10. With Senate passage odds at 48% on Polymarket and the August recess hard deadline approaching, each week without a Senate floor vote commitment represents time eroding the 2026 window. The fundamental case — XRPL’s $3.5 billion tokenized real-world asset base, $1.72 billion RLUSD market cap, Ripple Prime’s DTCC NSCC inclusion — remains structurally intact but has not yet translated into price performance.
Solana: $71.66, Holding Gains From Friday’s 6.71% Surge Solana is trading at $71.66 on June 28, essentially flat (–0.01%) after Friday’s 6.71% surge from the $64.04 cycle low. Volume at $1.68 billion is 51% lower than the prior session — typical weekend consolidation after a high-volume recovery day. The 7-day performance of –2.27% is the best among the top-8 non-stablecoin assets, confirming SOL led the recovery from the June 26 lows.
Price is holding above all three moving averages following Friday’s bullish MA alignment restoration. The $70.00 level — roughly where MA(25) sits — is the key support to defend on any weekend pullback. The 100-billion-transaction milestone crossed on June 26, and the Alpenglow upgrade targeting Q3 2026 mainnet remain the primary fundamental catalysts ahead.
BNB: $556, Weakest Large-Cap on June 28 BNB is the worst-performing top-8 asset on June 28, down 1.32% to $556.32 after the tight consolidation at $565 seen across the prior two sessions broke to the downside. Volume at $846 million is 31% lower. The 7-day loss of –5.37% places BNB in the middle of the large-cap pack.
The $540.60 cycle low established on June 26 remains the key structural reference. BNB’s Auto-Burn mechanism and BNB Chain’s stablecoin volume continue to provide fundamental support, but the June 28 session suggests the MA compression resolved to the downside — a return toward $550 is the next support zone to watch.
TRON: $0.3215, Only Top-8 Asset Green on Both 24h and 7d TRON is the standout performer on June 28: $0.3215, up 0.27% on the day and –1.69% on the week — the best 7-day performance of any non-stablecoin asset in the top 10 by a significant margin. The MiCA July 1 enforcement window is now open, and TRON-based USDT settlement volumes continue regardless of crypto market sentiment. TRX’s defensive outperformance through the entire June correction — holding above $0.3186 while BTC lost 10% and ETH lost 18% from their June highs — reflects the structural insulation of utility-driven demand.
Hyperliquid: $62.89, Quietly Holding Despite Market Pressure Hyperliquid (HYPE) at $62.89 is the 9th largest crypto by market cap at $15.91 billion — a position it has consolidated through the June correction. HYPE is down 7.39% on the week but holding above $60.00 psychological support. Hyperliquid’s on-chain perpetuals exchange has consistently posted record volume through 2026, making it the clearest example of a utility-driven DeFi asset with fundamental justification for its market cap position.
Dogecoin: $0.07401, Worst Weekly Performer in Top 10 Dogecoin is down 10.81% on the week and 1.66% on the day to $0.07401 — the worst 7-day performer in the top 10. DOGE has no utility catalyst or fundamental support comparable to other large-cap assets, making it the most sensitive to pure sentiment deterioration. A Fear & Greed reading of 18 (Extreme Fear) is the worst possible environment for meme assets.
Macro Context: What Drives the Week Ahead Three catalysts define the week of June 28 for crypto markets:
CLARITY Act floor vote timing. The August recess hard deadline means every week of June and July without a confirmed Senate floor vote date erodes the probability window. A Majority Leader floor scheduling announcement would immediately move CLARITY Act odds on Polymarket and cascade through BTC, ETH, XRP, and SOL simultaneously.
American Reserve Modernization Act. The full text of H.R. 8957 — with its 20-year BTC lock-up and proof-of-reserve mandates — is in committee. Any advancement to a floor vote would be the most significant Bitcoin-specific legislative event of the cycle.
Fed speakers and PCE data. With PCE at 3.6% and nine FOMC officials projecting a rate hike, any Fed speaker comments softening the hawkish stance would be the most powerful macro catalyst for a crypto recovery. The next PCE data release and FOMC minutes are the key data points to monitor.
Today’s Market in One Paragraph The crypto market on June 28, 2026 is defined by three words: low volume consolidation. Bitcoin flat at $60,251, Ethereum barely positive at $1,579, Solana holding Friday’s recovery gains, and TRON outperforming everything. The Fear & Greed Index at 18 is the deepest Extreme Fear reading of the cycle — but price has held the June 26 lows across three sessions, creating a sentiment-vs-price divergence that historically precedes recoveries. The week ahead is the most important legislative week of the year for crypto: CLARITY Act timing, the American Reserve Modernization Act, and any Fed pivot signals will determine whether the $58,115–$60,000 range becomes the base of a recovery or gives way to a deeper test of $55,000–$56,000.
Tokenized Stocks Aim to Unlock Global Equity Access“There’s actually about four billion people in the world today who are unbrokered,” Armstrong said in an episode of Sourcery with Molly O’Shea that aired on Saturday. “Half the planet basically can’t get access to any high-quality U.S. companies to invest in. They’re stuck holding cash and lower-quality investments.”
“That’s going to totally change the world,” Armstrong said of the shift to tokenized equities on modern financial rails.
Armstrong pointed to the pending Clarity Act, which he described as "right on the horizon," as the next crypto bill expected to speed up adoption of tokenized equities, similar to how the Genius Act supported stablecoins.
“If you survey Americans, something like 83% of them say that the financial system is not currently working for them,” Armstrong said, highlighting that the access issue extends beyond emerging markets.
Recent market data also supports Armstrong’s point, indicating tokenized stock trading volumes have reached record levels, signaling growing institutional and retail interest in blockchain-based equity exposure.
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Zcash whale Garrett Bullish renewed his bearish stance on ZEC after opening a fresh 2x leveraged short worth $4.92 million at $417.80.
The move followed two successful trades that had already generated $11.66 million in realized profits, reinforcing his reputation for accurately timing previous corrections.
His latest position arrived while he also maintained a 1,268 BTC long worth $76.45 million, although that trade remained roughly $20.90 million underwater.
Such high-profile positioning often shapes market sentiment because many participants closely track his trades before adjusting their exposure.
Buyers kept absorbing ZEC market orders Despite Garrett Bullish’s renewed bearish conviction, derivatives data painted a different picture. The 90-day Futures Taker CVD remained buyer-dominant, showing that aggressive market participants had continued lifting offers instead of hitting bids.
This imbalance suggested buyers had absorbed available liquidity more aggressively than sellers throughout the recent period. Even though ZEC struggled to regain higher price levels, taker activity indicated demand had not disappeared.
However, sustained buying pressure alone had not translated into a decisive trend reversal because broader sentiment remained cautious after the recent decline.
If buyers maintain control of market orders while fresh selling pressure fades, the market could gradually challenge bearish positioning. Otherwise, persistent whale conviction could continue limiting upside despite encouraging order flow.
Source: CryptoQuant Can oversold signals trigger a rebound? Zcash [ZEC] continued trading below its broken ascending channel after failing to reclaim the former support structure.
The breakdown shifted market structure in favor of sellers, leaving $520 as the nearest major resistance while $335.50 remained the next significant support.
However, downside pressure appeared to slow as price stabilized near $413 instead of extending lower. Meanwhile, the Stochastic RSI dropped to 4.03 and 6.45, placing both lines deep inside oversold territory.
Those readings reflected exhausted selling conditions rather than renewed strength.
Unlike the oscillator, the Parabolic SAR remained below the price, indicating that the broader trend still favored buyers despite the recent pullback.
A recovery above the broken channel would strengthen bullish conviction, whereas another rejection could expose ZEC to a retest of lower support.
Source: TradingView Conclusively, Garrett Bullish’s latest multi-million-dollar short has reinforced bearish sentiment, but derivatives data has not fully supported that view.
If ZEC reclaims the broken channel and pushes above $520, the bearish thesis could weaken considerably. Otherwise, failure to overcome resistance would likely keep $335.50 as the next downside target.
Final Summary Garrett Bullish increased bearish exposure, yet futures buyers continued absorbing market selling pressure. The daily chart reflects cautious optimism, though ZEC still trades below important resistance levels.
PANews June 28 news: Zcash founder Zooko posted on X platform that the Coinbase App has started pushing gambling-like features such as sports gambling and Bitcoin price predictions to young, immature, and economically disadvantaged users, and he feels ashamed to be in this industry. In response, Coinbase CEO Brian Armstrong replied that adults should be able to freely spend their own money without harming others. Buying stocks, buying Bitcoin/Zcash early, also looks like "gambling" to many people, risk is subjective. That said, aggressively promoting high-risk products to inexperienced users is still not appropriate. Offering a product and making it the focus of the app are two different things.
Brian Armstrong emphasized that this problem can be mitigated through clear information disclosure, AI-driven financial literacy tools, and personalized experiences. Users can set preferences during registration (e.g., enable/disable certain categories), so the app reflects their wishes without forcing those choices on other users. On topics like sports prediction markets, Brian Armstrong believes that society (through democratic processes) should ultimately decide what behaviors are allowed, and private companies should not be the ones drawing those lines.
Key Takeaways ZEC is currently valued at approximately $388 with a total market capitalization approaching $6.7 billion The moderate scenario projects ZEC reaching $600–$1,000 by the end of 2031 An optimistic scenario envisions $2,000–$3,500 should privacy features gain mainstream adoption A pessimistic outlook anticipates $120–$220 amid intensifying regulatory challenges Weighted average projection indicates approximately $850 as the target price for 2031 Introduced to the cryptocurrency ecosystem in 2016, Zcash emerged as a privacy-centric counterpart to Bitcoin. While Bitcoin operates with complete transaction transparency, Zcash enables users to conduct confidential transfers utilizing zero-knowledge cryptographic protocols.
Zcash (ZEC) Price This positions ZEC as a unique investment proposition. Rather than challenging platforms like Ethereum or Solana, it represents a strategic bet on whether financial confidentiality will resonate with cryptocurrency participants and corporate entities.
Presently trading at roughly $388, ZEC maintains a market valuation close to $6.7 billion, with approximately 16.7 million tokens currently circulating. Mirroring Bitcoin’s economic model, Zcash incorporates a maximum supply ceiling of 21 million coins alongside a halving mechanism that reduces mining rewards approximately every four years.
This is how it looks when you're truly outperforming $BTC 👇
…and $ZEC has done this since 2024 and the level it's sitting right now is the same level as in July 2019.
So basically it's been same weather you held BTC or ZEC since 2019!!!
I´m expecting this pump to continue… pic.twitter.com/q7g3sN0xvN
— Vuori Trading (@VuoriTrading) June 26, 2026
Industry observers from CoinDesk indicated that privacy-oriented cryptocurrencies such as Zcash and Monero were projected to maintain investor interest throughout 2026, despite ongoing challenges related to exchange removals and financial institution restrictions.
Moderate Projection: $600–$1,000 Range The middle-ground forecast for ZEC through 2031 anticipates valuations spanning $600 to $1,000. This translates to a market capitalization between approximately $12 billion and $20 billion.
This pathway doesn’t demand that Zcash ascends into the top tier of cryptocurrency assets. It simply requires maintaining its status as the premier privacy-focused digital asset offering regulatory-compliant optional transparency features.
Three fundamental drivers support this trajectory: expanding privacy consciousness among users, sustained availability on major trading platforms, and robust technical foundations. Zcash’s Bitcoin-inspired monetary policy and proof-of-work consensus mechanism reinforce this projection.
Optimistic Projection: $2,000–$3,500 Range Should privacy emerge as a central theme within cryptocurrency markets, ZEC could potentially climb to $2,000–$3,500. Such appreciation would elevate its market capitalization to the $40 billion–$70 billion territory.
Realizing this scenario requires widespread implementation of confidential transaction features, significant improvements in user interface design, and revitalized institutional participation in privacy-preserving technologies.
Additionally, Zcash would need market recognition as a “privacy-enhanced Bitcoin” rather than merely another aging alternative cryptocurrency.
Pessimistic Projection: $120–$220 Range The downside scenario centers on regulatory enforcement. Privacy-focused cryptocurrencies currently face removal pressures across numerous jurisdictions, representing tangible rather than theoretical risks.
Should major exchanges impose restrictions or completely eliminate ZEC trading pairs, resulting in severely diminished liquidity, valuations could contract to $120–$220 by 2031.
Maintaining access to reputable trading venues constitutes one of the most significant threats to Zcash’s future market value.
Calculating probability-weighted outcomes across these three distinct scenarios yields an approximate target price of $850 for 2031.
Coinbase CEO Brian Armstrong is pushing back against criticism from Zcash founder Zooko Wilcox over the exchange’s foray into betting-style products, arguing that adults should be free to use their money however they see fit. But Armstrong added a caveat that tells you a lot about where the tension actually lives: high-risk products shouldn’t be the main focus for unsophisticated users.
The blurring line between trading and betting Coinbase has been steadily expanding into territory that looks less like a traditional exchange and more like a prediction market. Advanced trading tools, outcome-based products, and features that share more DNA with sportsbooks than with Charles Schwab have become part of the platform’s growing toolkit.
Wilcox, who created the privacy-focused cryptocurrency Zcash, has pointed out that the distinction between speculating on crypto and outright gambling is, at best, paper-thin. Investments in assets like Bitcoin and ZEC carry inherent speculative risk, and wrapping that speculation in more exotic product structures doesn’t make it less risky.
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Armstrong’s position is philosophically consistent, at least on the surface. He’s long been an advocate for financial autonomy, the idea that individuals should have the right to transact, invest, and yes, speculate without a government or corporation acting as their parent.
Why Wilcox’s criticism hits differently Wilcox isn’t some random critic on social media. He’s a cryptography pioneer who has spent over a decade building privacy technology for digital finance. When he characterizes crypto investments as akin to gambling, he’s speaking from inside the house.
Coinbase in particular has positioned itself as the responsible adult in the room, the exchange that plays nice with regulators, lists tokens carefully, and markets itself to mainstream investors. Leaning into prediction markets and betting-adjacent products complicates that brand story considerably.
What this means for investors and the broader market For Coinbase shareholders and crypto market participants, this debate touches on several intersecting risks. First, there’s regulatory exposure. Prediction markets and betting-style products exist in a legal gray zone in many jurisdictions. Second, there’s reputational risk. Coinbase has built its brand on being the safe, compliant on-ramp to crypto for everyday investors.
Armstrong’s acknowledgment that high-risk products shouldn’t dominate the experience for less sophisticated users suggests some internal awareness of this tension. It’s a concession that not all users are created equal, and that the same product can be perfectly appropriate for one person and genuinely harmful for another.
Investors should watch for two signals: how prominently betting-style products feature in Coinbase’s marketing materials, and whether any regulatory body decides to weigh in on how these products are classified. Either development could materially shift the risk profile of holding COIN stock.
Disclosure: This article was edited by Editorial Team. For more information on how we create and review content, see our Editorial Policy.
Zcash founder Zooko Wilcox-O'Hearn has sharply criticized cryptocurrency exchange Coinbase for aggressively pushing gambling-like features to its user base.
On Saturday, Zooko took to X (formerly Twitter) to voice his intense frustration over the platform's tactics.
“Talked to a user (a vulnerable, young, unsophisticated, financially poor user) who has the Coinbase app, and it has started prompting them to gamble on sports and the price of Bitcoin,” Zooko stated. “I hate this with a burning passion and it makes me ashamed to be part of this industry,” he added.
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Defending “financial freedom” Coinbase CEO Brian Armstrong has made it clear that there is a need to find the right balance.
The CEO defended the inclusion of prediction markets on the platform by leaning on libertarian principles of personal choice. "I’m pro-freedom," Armstrong argued.
"Consenting adults should be able to do what they want with their own money, as long as they’re not harming others. I don’t want companies patronizing users."
Armstrong further pushed back against the stigma of the word "gamble."
The Coinbase boss has noted that “there’s no perfectly safe investment, and what counts as acceptable is highly subjective,” he noted.
Adjusting promotional strategies Armstrong has concluded that Coinbase's promotional strategies might need adjustment.
"That said, it doesn’t feel right to aggressively promote high-risk products to unsophisticated users," Armstrong admitted. "There’s a difference between making something available and making it the focus of the app."
The Coinbase CEO outlined several potential platform updates that could give users more control. "We can mitigate this with clear disclosures, AI-powered financial literacy tools, and personalized experiences," he proposed. "Users could set preferences during onboarding (e.g. enable/disable certain categories) so the app reflects what they want, without forcing those choices on everyone else."
The legality and moral standing of such features should be left to voters and lawmakers. Corporate executives are not supposed to be in charge of such decisions, according to Amtsgrong. "Private companies shouldn’t be the ones drawing those lines," he said.
The measured exchange ended on a respectful note, with Zooko replying, "Thanks for the thoughtful response, Brian."
According to GMGN data, Solana ecosystem meme coin ANSEM briefly exceeded $32 million in market capitalization before pulling back to $24 million. The token has recorded a 115x 24-hour price surge, with its 24-hour trading volume reaching $21.2 million. Today, crypto KOL Ansem announced on social media that due to Pump.fun’s "refusal to distribute funds (airdrop)", he was forced to send "stimmy" (stimulus funds) to "the on-chain trenches" — a term referring to on-chain meme coin traders. BlockBeats reminds users: Most meme coins lack real use cases and are highly volatile. Please protect your assets and avoid FOMO.
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According to on-chain analyst Ai Yi (@ai_9684xtpa), a whale made a single purchase of SK Hynix (ticker: SKHYNIX) worth $5.455 million on Binance. Market data shows that the SKHYNIX contract price on Binance briefly rose to $1,830 and has now fallen back to $1,786.
Bitcoin briefly dipped below $60,000 during the final week of June before buyers stepped in, capping a turbulent seven days driven almost entirely by macroeconomic forces rather than anything crypto-native. As of the latest data, Bitcoin trades at $59,873, Ethereum at $1,564, XRP at $1.04, and Solana at $70.37.
What Drove the Selloff
Expectations of higher interest rates for longer, a stronger US dollar, continued ETF outflows, and broad deleveraging across derivatives markets combined to push the market lower. More than $1 billion in long liquidations amplified the move, a reminder of how leverage continues to magnify short-term price action.
Where Each Asset Landed
Bitcoin’s decline found buyers at levels historically associated with long-term accumulation zones, which Avinash Shekhar, Co-founder and CEO of Pi42, described as the more significant signal from the week. “What stands out is not the decline itself but where it found support,” he said in an interview with Coinpedia.
Ethereum underperformed the broader market, sliding 9.84% on the week to $1,564. XRP showed relative resilience, losing less ground than most major altcoins and ending the week at $1.04, supported by sustained institutional interest tied to spot ETF product growth. Solana held up comparatively well at $70.37, reflecting continued confidence in its ecosystem’s development activity. Dogecoin dropped but remained reactive, ending down 11.97% on the week at $0.073, consistent with its history of quick responses to sentiment shifts.
Capital Is Becoming Selective
Shekhar identified a broader structural shift in how money is moving through the market. “Capital is becoming increasingly selective,” he said. “Rather than moving uniformly across the market, investors are differentiating between assets based on liquidity, institutional participation and ecosystem fundamentals. This marks a notable shift from previous market cycles, where momentum alone often drove broad-based rallies.”
Bitcoin ETFs recorded $1.79 billion in weekly outflows, the second-largest weekly sell-off since their launch. Combined unrealised losses for Michael Saylor and Tom Lee reached $24.5 billion during the week, according to on-chain tracking.
What Comes Next
Shekhar said the next directional move for digital assets will likely be determined by institutional flow data, macroeconomic readings, and monetary policy signals. A recovery in ETF inflows, easing inflation, and improved global liquidity conditions could lay the foundation for renewed momentum. Until those conditions change, he expects markets to remain range-bound with heightened sensitivity to economic data.
“The broader picture, however, remains constructive,” Shekhar said. “Institutional adoption, blockchain infrastructure development and real-world use cases continue to expand despite near-term volatility. Periods of consolidation are increasingly becoming opportunities for stronger fundamentals to emerge.”
Story Ends Here
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Bitcoin briefly dipped below $60,000 over the weekend, logging a roughly 7% decline in the past week. As the second quarter draws to a close, Bitcoin is on track to post a roughly 12% quarterly drop, following a 22% fall in the first quarter, which would mark a rare back-to-back quarterly loss in its history. Meanwhile, altcoins have generally seen steeper declines than Bitcoin: Ethereum fell around 9.5% in the past week, Dogecoin dropped 11.7%, HYPE slipped 10.6%, XRP declined 8.7%, Solana fell 3.5%, and TRON saw a roughly 1.5% drop. Analysts attribute the market’s ongoing pressure to multiple factors, including sustained capital flows into AI-driven semiconductor and memory chip sectors, persistent outflows from U.S. spot Bitcoin ETFs, the Federal Reserve’s hawkish stance, and the U.S. Dollar Index staying at high levels. The market will watch closely for ETF capital flows and demand improvements in the third quarter to judge whether the crypto market can shake off its weak performance in the first half of the year.
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Portugal has punched its ticket to the 2026 FIFA World Cup knockout rounds after finishing second in Group K with 5 points from three matches. That’s the football news. Here’s the crypto angle: the Portugal National Team Fan Token (POR) climbed approximately 6% to around $0.18 in a 24-hour window as the team’s advancement became official.
What happened on the pitch, and why crypto cares Portugal wrapped up the group stage on June 27-28 with a goal difference of +5, sealing their spot with a 1-1 draw against DR Congo. Portugal could face Croatia, the likely runner-up from Group L, on or around July 2.
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The fan token model, explained POR lives on the Chiliz (CHZ) platform, which has carved out a niche as the backbone of sports fan tokens. Chiliz currently sits at a market capitalization of roughly $352 million.
The pitch to fans is governance. POR holders get to vote on things like goal-celebration songs and other team decisions.
The pitch to traders is volatility. Fan tokens tend to be thinly traded compared to major crypto assets, which means that even modest spikes in buying interest can produce outsized price moves. A 6% jump on a group-stage result illustrates the point.
What this means for investors The token is trading around $0.18 with relatively thin liquidity. POR’s next price-defining moment arrives around July 2 when Portugal presumably faces Croatia.
The absence of major crypto-sector catalysts outside the fan token space over the past month suggests that tournament results are the primary variable moving these assets right now.
Disclosure: This article was edited by Editorial Team. For more information on how we create and review content, see our Editorial Policy.
Chiliz (CHZ), the cryptocurrency known for powering sports and entertainment blockchain projects, appears to be caught in a narrowing trading range as technical indicators flag a potentially decisive region ahead. According to prominent market watcher Crypto With Gopal, after retesting an ascending wedge pattern, CHZ has stabilized within a symmetrical triangle formation—often a sign that the tug-of-war between buyers and sellers is intensifying.
Critical short-term resistance zone under scrutinyOn the five-hour CHZ/USDT chart, the price came under downward pressure after being rejected around the $0.0200 mark. The formation of lower highs suggests that selling pressure remains strong. Previously, CHZ broke down from a descending triangle, falling as low as $0.0170.
CHZ is currently testing the resistance zone between $0.0180 and $0.0182. A breakout above this range on strong trading volume could signal a shift in the short-term outlook.
Following recent lows, renewed buying interest has prevented a deeper decline, helping CHZ form a temporary bottom. The subsequent rebound evolved into an ascending wedge—typically associated with weakening upward momentum and the risk of a downside break.
As CHZ nears the upper band of its current formation, the crucial $0.0180–$0.0182 resistance area is under pressure. The symmetrical triangle, a classic technical pattern, signals that price action is squeezed into a tightening range that often precedes a breakout.
Mini glossary: A symmetrical triangle occurs when price swings become confined, with buyers and sellers reaching a temporary balance. In an ascending wedge, although prices move up, momentum may weaken, raising the risk of a downward breakout.
If resistance is broken with significant volume, short sellers are expected to close their positions as new buyers step in, potentially driving the price toward $0.0210. Such a move represents a possible 15% to 20% upside from current levels. However, if no breakout occurs and the ascending wedge structure fails to hold, attention could quickly shift back to the $0.0170 and then $0.0160 support levels.
LevelSignificance$0.0180–$0.0182Short-term resistance zone$0.0210Target if breakout occurs$0.0170First support on downside$0.0160Deeper pullback targetPotential for long-term recovery discussedChiliz has made its mark as a crypto asset focused on sports and entertainment ecosystems. However, another market analyst notes that CHZ has been in a downtrend for nearly four years—a factor that has weighed on investor interest.
Even so, in the long-term view, the $0.14, $0.30, and $0.66 levels are being monitored as major thresholds. The analysis suggests CHZ is hovering close to an accumulation zone that in the past has preceded notable price surges.
A potential move back to the $0.14 level in the long-term outlook would mark a significant recovery from current prices, while any movement above $0.30 could trigger a shift in broader market sentiment.
Analysts remark that should the overall cryptocurrency market enter a new rally phase, discussion around the previous $0.66 peak for CHZ could resurface. However, whether this scenario materializes will hinge not just on CHZ’s technical setup but on the wider market’s risk appetite.
In summary, Chiliz is at a critical crossroads both technically and sentiment-wise, with its immediate price action set to be determined by the contest between bulls and bears at key resistance and support levels. A decisive breakout or breakdown could pave the way for new trends in the weeks ahead.
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.
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Fund managers like ARK Invest are accumulating crypto stocks after their recent drop in price, and investors are now watching Bitmine (NYSE BMNR), Marathon Digital (NASDAQ: MARA), Coinbase (NASDAQ: COIN), Riot Platforms (NASDAQ: RIOT), and Robinhood (NASDAQ: HOOD) to see whether they can rebound.
BMNR Stock Drops to One-Year Low as Unrealized Losses Rise BMNR stock has dropped by 16% between June 22 and June 26 to its lowest level since June 2025 of $13. The drop comes amid intense selling of the stock by holders who are worried about the company’s $10 billion loss on its Ethereum holdings.
CoinGape previously reported that Bitmine’s unrealized loss on the Ethereum it holds is at the highest level in history, and this is pushing investors away as fears grow that Bitmine might start selling ETH to avoid more losses.
The BMNR stock price closed trading on June 26 at $13.56. It might drop to the psychological support level of $10 if buyers continue to hesitate because of the company’s rising Ethereum losses.
BMNR Price Chart However, the volume histogram bars that are green show that the drop to $13 attracted buyers who wanted to buy low, and if this buying pressure continues, the crypto stock might rise to $15.
COIN Stock Rebounds to Test Resistance as ARK Invest Buys The Dip COIN stock price rose by 4.59% on June 26 to close trading at $159. This closing price is near the obstacle of $150 that this crypto stock needs to overcome to signal that the downtrend that started on June 22 is losing steam.
COIN needs to close above this resistance level of $150 for three straight trading days to suggest that bulls have a good grip.
However, the AO bars that are red and negative suggest that the momentum is still favoring bears. These AO bars need to turn green to suggest that bears are giving up.
COIN Stock Price Cathie Wood seems to be betting that the Coinbase stock is going to recover after ARK Invest bought 68,366 COIN shares on June 26 per a recent CoinGape report.
MARA Holdings Outperforms Other Crypto Stocks on AI Boom MARA is definitely one of the best crypto stocks to watch because of the firm’s move into the fast-growing AI space after Mara Holdings bought a 64% stake in AI infrastructure firm Exaion in 2025.
The stock price increased by 4.79% on June 26 to close trading at $14.54. The price of this stock has also increased by 53% between December 2025 and June 2026.
MARA stock has been rejected at the resistance level of $15.25 since June 1. It needs to make three closes above this obstacle to reach the October 2025 high of $23.
MARA Price Chart The RSI reading of 56 shows that the momentum around this stock is still bullish, and the price might continue to gain if the buying pressure remains strong.
RIOT Crypto Stock Nears 2021 Highs After 116% Surge Riot shares gained by 2.79% on June 26 to close trading at $28. The stock has gained by 116% from the December 2025 low of $12.
The price of $28 that the RIOT stock closed at on June 26 is a crucial resistance level. The shares could move to the 2021 high of $40 if it moves above this obstacle of $28.
The OBV indicator that is rising suggests that buying pressure is more than the selling pressure, and if this continues, the crypto stock could reach $40.
RIOT Price Chart The support level for this stock sits at $27, and the price might drop to the June 10 low of $23 if it closes below this support for three straight trading days.
HOOD Stock Price Soars After New “Buy” Rating Investors are closely watching how the HOOD stock price will perform after it received a “buy” rating from BTIG, which also predicted that this crypto stock might reach $125.
HOOD stock price gained by 5.58% on June 26 to close trading at $98. The daily chart shows that the closing price of $98 is also a support level that bulls have defended since June 12.
The new buy rating by BTIG might bring buyers back, and the HOOD stock price might rise to the June 2025 high of $112.
HOOD Stock Price However, the AO bars that are red and on the positive side suggest that bulls are losing their grip, and HOOD stock might drop to the June 4 low of $78 if the support at $98 does not hold.
PANews June 28 news, according to the latest daily trading disclosure released by ARK Invest, the Cathie Wood-led ARK Invest spent $25.54 million on June 26 (this Friday) to buy shares of Coinbase, SpaceX, Circle, Bullish, and Robinhood. Among them, it bought $10.19 million worth of Coinbase shares (68,366 shares); $7.01 million worth of SpaceX shares; and $5.79 million worth of Circle shares.
PANews reported on June 28 that Robert Kiyosaki, author of Rich Dad Poor Dad, posted that he may have caught a market turning point. After buying gold the previous day, the gold price rose by $62, and he believes that New York Times bestselling author Jim Rickards’ prediction that gold prices will surge to $35,000 is correct.
dogwifhat [WIF] is staging a comeback after spending most of the year subdued, with the memecoin down 38% on a year-to-date basis yet up 16% over the past day.
Market analysis shows that a stronger rally could still take shape once the asset overcomes the key structural level that could keep its price from staging a surge.
A descending resistance line caps WIF’s rally The major obstacle standing between WIF and a sizeable rally remains the descending resistance line that price has only marginally crossed.
The breakout cannot be confirmed as bullish yet. WIF’s price has not closed above the descending line, nor has it continued along the bullish path it began carving out days earlier.
Source: TradingView For context, this same resistance has repeatedly capped WIF’s advances and forced the token to trade lower thrice in a row, even though each run leading into the level delivered double-digit gains.
A failure to push higher would leave WIF trudging beneath the resistance line for an extended period, adding to the 48 days it has already spent trading below this barrier.
Capital and buying indicators back WIF WIF stands a strong chance of a major upswing, with the key indicators that track capital flow and buying activity all pointing in the same direction.
The accumulation/distribution indicator is showing a powerful upswing, which implies sustained buying, while total volume has settled at around 378 million WIF traded over the past 24-hour window.
Adding to this, the money flow index—which measures the movement of capital into and out of an asset—is surging upward at a reading of 67, signaling that more capital has flowed into WIF. More importantly, that reading sits in the bullish zone above 50, suggesting investors are actively buying.
Source: TradingView The pattern worth noting appears at the vertical lines marking the points where price failed to breach the resistance mentioned earlier, where both indicators rallied into the level together—unlike previous instances in which one indicator rose while the other lagged, or one sat in overvalued territory.
A continued upward move would meaningfully reshape the outlook for WIF, since it would confirm a close above the resistance and establish a sustained bullish pattern.
Liquidation clusters limit WIF’s upside The liquidation chart shows that WIF’s possible upside is limited, based on the arrangement of its clusters, which mark the levels where unfilled orders sit.
The downside below the current price level extends even further, suggesting WIF could still fall well beneath its present position despite the bullish momentum on display.
An important caveat applies here, as the liquidation heatmap offers only a glimpse rather than an extended view across a broader price spectrum. That leaves it unknown whether more buy orders sit beyond what the chart currently displays.
Final Summary WIF has bounced 16% in a day after a rough year down 38%, and the signals that track buying activity suggest investors are stepping back in. The rally isn’t safe yet, as WIF still needs to firmly clear a price ceiling that has rejected it three times before, and there’s room for it to slip lower first.
The RWA landscape is making staggering progress, as shown by the growth in tokenized asset value. In this respect, the leading 12 Real World Asset (RWA) platforms have reached the $26B milestone in terms of tokenized asset value while excluding stablecoins. As per the data from RWA Foundation, Securitize, Ondo, and Circle are the leading companies in this list. Subsequently, the other names on the list include Franklin Templeton, Tether Holdings, Spiko, Paxos, Centrifuge, Maple, STOKR, Libeara, and WisdomTree.
Securitize, Ondo, and Circle Lead Top Twelve RWA Platforms Based on Tokenized Asset Value Securitize is the dominant player in the RWA sector when it comes to tokenized asset value. The platform accounts for a total amount of $4.31B. Following that, Ondo has successfully secured the 2nd position on the list, comprising a cumulative $3.68B. Additionally, in the 3rd place, Circle stands at $3.13B in its tokenized asset value.
Apart from that, another prominent name within the RWA market is Franklin Templeton. The platform has effectively claimed a total tokenized asset value of nearly $2.50B. Additionally, claiming the 5th position among the RWA platforms based on tokenized asset value, Tether Holdings sits at $2.42B. In addition to this, Spiko’s total tokenized asset value equals $1.83B.
Maple, STOKR, Libeara, and WisdomTree Bottom List The list of the key RWA platforms in line with the tokenized asset value takes into account Paxos in the 7th rank. Particularly, the project currently has a tokenized asset value of $1.82B. Additionally, Centrifuge is another noteworthy player, sitting at $1.63B. Moving on, the next notable name is Maple. Thus, keeping in view its tokenized asset value, the project is now standing at $1.42B in total.
According to the RWA Foundation’s list of the top RWA platforms, STOKR is the 10th leading player. As a result, the platform’s tokenized asset value reportedly equals $1.35B. Showing a notable difference from STOKR, Libeara has a value of almost $1.04B. Ultimately, WisdomTree is the last one among the top 12 RWA firms. So, its tokenized asset value is up to $0.80B in total.
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Crypto journalist with years of experience providing in-depth analysis and news on blockchain and decentralized finance. With a keen eye for detail, Shahzaib delivers insightful articles that explore the latest trends, market movements, and innovations within the crypto and blockchain ecosystem. His work focuses on educating readers while offering expert commentary on the evolving landscape of digital assets, DeFi protocols, and the broader impact of blockchain technology.
Popular investor and entrepreneur Kyle Samani has accused Hyperliquid of misleading the public over its permissionless status. The Forward Industries chairman made the claim after Singapore’s financial regulator added the platform to its Investor Alert List.
The Monetary Authority of Singapore (MAS) placed Hyperliquid on its Investor Alert List (IAL) on June 26. The IAL flags entities that residents may mistakenly perceive as licensed or MAS-authorized. An IAL listing carries no ban or enforcement weight. It signals, instead, that local users may not receive MAS protections if something goes wrong on the platform.
Hyperliquid Defends Its Permissionless InfrastructureHyperliquid responded to the Singapore IAL listing, noting that it has never claimed MAS licensing or authorization. The platform maintained that users retain full self-custody and all transactions settle transparently on-chain. It added that nothing about the network has changed.
Bybit received the same warning earlier in June. The MAS has been tightening oversight of offshore exchanges throughout 2026. It ordered unlicensed platforms to seek regulatory approval or cease operations accessible to Singapore residents.
Samani’s Case Against PermissionlessnessSamani took direct aim at Hyperliquid’s core claims.
Hyperliquid is not permissionless. Stop gaslighting the public.
Samani
He argued that genuine permissionlessness requires at a minimum two conditions. The protocol must be open source. Validators must also operate globally, not concentrated in a single location.
He further raised governance concerns. Samani said the Hyperliquid Foundation can jail validators and remove them from the active set without justification.
Furthermore, the Foundation can push forced software upgrades on validators, he argued, stripping them of control over their own nodes.
Hyperliquid’s current setup lends some weight to those claims. The network runs only 24 active validators and plans a modest expansion to 27. Its node repository distributes a signed binary rather than full source code. The team says open-sourcing will follow once HyperCore reaches feature completion.
Furthermore
The hyperliquid foundation can put a validator in “jail” for any reason and remove it from active validator set
They also force upgrades on validators. They violate validator sovereignty
— Kyle Samani (@KyleSamani) June 26, 2026 Samani’s Motivations Under ScrutinyCritics have previously targeted Hyperliquid on similar decentralization grounds, and the platform has typically held its position. Samani’s Multicoin Capital exit in February 2026 adds personal context. His former firm held notable exposure to competing protocols, prompting some observers to question his motivations.
How Hyperliquid responds to pressure from regulators and industry critics may shape its standing with institutional users in the months ahead.
@hiFramework has closed its fourth fund at $400 million and, in doing so, pulled back the curtain on its largest crypto bets: major positions in @SkyEcosystem $SKY, @HyperliquidX $HYPE, and @Plasma $XPL.
A $400M Fund With Clear Crypto Convictions The San Francisco-based firm announced the close of fund FVIV on June 26, 2026. The fund was oversubscribed, with significant support from returning investors. Framework did not disclose its limited partners, describing them as a "predominantly institutional base anchored by an Ivy League endowment, nonprofits, sovereign wealth funds, and funds of funds."
Alongside the fundraise, the firm was explicit about where its digital asset conviction lies. Its existing portfolio includes positions in derivatives platform Hyperliquid, yield-bearing stablecoin issuer Sky, and stablecoin-focused blockchain Plasma. The firm said it will maintain its digital asset investment strategy, keep Hyperliquid, Plasma, and Sky as major portfolio holdings, and has already deployed about half of the new fund.
Beyond Crypto: AI, Robotics, and Energy The fourth fund also marks a meaningful expansion of Framework's investment mandate. Framework Ventures has raised a $400 million fourth fund to continue investing in stablecoins, tokenization, and digital assets, while also expanding into AI, robotics, energy, and fintech. The firm also promoted Rajiv Patel-O'Connor to general partner as it expands beyond its traditional crypto focus.
Framework said it has already begun deploying the fund, leading Mecka AI's $60 million Series A round and investing in distributed energy network Daylight, moves it says complement its existing digital asset portfolio.
Founded in 2019, Framework made its name as an early backer of DeFi protocols, including Aave and Chainlink, both of which have grown into dominant platforms in decentralized finance. The firm held $1.28 billion in assets under management as of December 2025, according to a filing with the Securities and Exchange Commission.
The firm says its expansion is a response to the changing focus of founders within its network and does not represent a departure from its long-standing commitment to blockchain. As Framework broadens its reach, the three tokens it has publicly flagged, $SKY, $HYPE, and $XPL, stand out as the clearest signal of where its on-chain conviction remains anchored.
Sources:
Fortune: Framework Ventures raises $400 million for fourth fund
The Block: Framework Ventures raises $400 million for fourth fund to invest across crypto, AI and robotics
Crypto Briefing: Framework Ventures closes $400 million fund amid crypto slowdown
PANews June 28 news, according to Lookonchain monitoring, Machi (Huang Licheng) is selling Bored Ape at a loss to raise funds to go long on ETH on Hyperliquid. Over the past month, Machi sold 34 Bored Apes, totaling 326 ETH (approximately $514,000), incurring a loss of 399 ETH (approximately $631,000). Machi’s biggest loss came from Bored Ape #6057, which he bought four years ago for 76.84 ETH and sold now for only 7.65 ETH, a loss of up to 90%. Meanwhile, Machi has been liquidated multiple times on Hyperliquid. Just 3 hours ago, he was liquidated again, leaving only $81,000 in the account.
Analysis: Weak demand from U.S. institutions may keep Bitcoin under pressure and range-bound in the short term.
Bitfire Group stated in its latest market commentary that Bitcoin’s negative premium on Coinbase has continued to widen, signaling persistent weakness in U.S. institutional buying. Meanwhile, Strategy’s income preferred stock (ticker: STRC) briefly dipped below $84. Though there is no immediate liquidation risk, market concerns over whether the firm will need to sell Bitcoin continue to weigh on sentiment. From a technical perspective, Bitcoin remains trading below its 20-day and 50-day moving averages, with short-term MAs in a bearish alignment. The daily RSI stands at around 40—weak but not yet in oversold territory. The overall Bollinger Bands are sloping downward, with the middle band acting as strong resistance. Bitfire Group believes that with a lack of sustained bullish momentum and bears still holding the upper hand, Bitcoin will likely continue fluctuating below resistance levels in the short term, further testing actual buying demand on the downside. Key resistance levels are at $64,650, $66,900, and $69,800, while the main support level is at $63,500.
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Thailand has issued an arrest warrant for Chinese businessman Wang Yicheng, accusing him of money laundering through illegal cryptocurrency mining.
Thailand’s Department of Special Investigation (DSI) has issued an arrest warrant for Chinese businessman Wang Yicheng, accusing him of belonging to a criminal organization that allegedly uses illegal cryptocurrency mining to launder proceeds from fraud and online gambling. Wang, a former leader of the Thai-China Trade Association, is identified as a core figure in the involved Chinese investor group. Reuters’ 2023 investigative report, which centered on Wang, revealed that a U.S. blockchain analytics firm found fraud-related cryptocurrency wallets had sent millions of dollars to accounts under Wang’s name, while he actively cultivated ties with top Thai political and law enforcement officials at the time. A DSI spokesperson stated Wang was charged last November with theft and violations of the Computer Crime Act, adding that he is believed to have fled Thailand, and authorities are tracking his whereabouts in cooperation with international partners. Separately, Thai authorities have also issued arrest warrants for four unnamed Chinese nationals and four unnamed Myanmar nationals.
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US-Iran conflict escalates for three consecutive days: Iran targets US military base in Kuwait with missiles and drones, Trump warns "Iran will cease to exist"
According to CNN, the situation has reversed sharply after the U.S.-Iran ceasefire deal took effect, with military clashes breaking out for three consecutive days between the two sides, multiple Gulf countries drawn into the conflict, and the Strait of Hormuz facing renewed severe threats to navigation. In the latest development, Iran's Islamic Revolutionary Guard Corps (IRGC) claimed to have struck U.S. military facilities in Kuwait and Bahrain with missiles and drones in retaliation for earlier U.S. airstrikes. Kuwaiti military confirmed its air defense systems are intercepting incoming targets, while Bahrain's Interior Ministry issued an alert urging residents to head to the nearest safe locations immediately. For the U.S. military, U.S. Central Command announced multiple rounds of strikes on Iran's missile and drone storage facilities, military surveillance infrastructure, communication systems, air defense positions and mine-laying capabilities, citing Iran's "continuous attacks on merchant ships". Trump immediately issued the sternest warning on social media, saying that if Iran does not stop the attacks, the U.S. military will be forced to "complete the tasks already initiated by military means", and that "the Islamic Republic of Iran will cease to exist". Iran responded firmly, with the IRGC stating that the U.S. airstrikes violated the ceasefire deal and "will lead to a complete halt of all diplomatic processes". Meanwhile, the Israeli military launched a drone attack in southern Lebanon just one day after a framework agreement was reached between Israel and Lebanon, further complicating the regional situation. The preliminary agreement signed by the U.S. and Iran this month aimed at restoring navigation in the Strait of Hormuz is facing the risk of complete collapse amid the continuous clashes, and market concerns over oil prices, safe-haven assets and global energy supplies are rising sharply.
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Whale "sat0shi777" is trapped in both long and short positions simultaneously, with total unrealized losses exceeding $3 million on a combined position worth $102 million.
According to EmberCN’s monitoring, on-chain whale address "sat0shi777" recently executed a rare operation of being trapped in both long and short positions simultaneously. On June 24, the whale opened a long position of 468 BTC at an average price of $62,729, with a position size of approximately $29.38 million. Shortly after, Bitcoin fell below $60,000, and the long position currently has an unrealized loss of around $1.86 million. Yesterday morning, amid a downtrend, the whale added to a short position of 47,500 ETH at an average price of $1,536, with a position size of roughly $72.94 million. However, ETH did not continue to decline afterward, and the short position currently shows an unrealized loss of about $1.23 million. The combined market value of the two positions is approximately $102.32 million, with a total unrealized loss of over $3.09 million, leaving the whale in the red on both long and short sides.
10 minutes ago
A new crypto address has increased its holdings by 1,350 BTC, valued at approximately $81.87 million.
According to Lookonchain’s monitoring, a newly created wallet address bc1q4m has withdrawn 1,350 BTC from Binance, worth approximately $81.87 million at current prices.
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Crypto stocks have fallen far more sharply than large-cap tech stocks: Coinbase and Circle have declined 69% and 72% respectively from their peaks, with Bitcoin briefly falling below $60,000, exacerbating bearish sentiment.
Amid a broad sell-off in tech stocks, crypto-related equities have seen particularly steep declines, with their divergence from the broader market continuing to widen. Coinbase (COIN) and Circle (CRCL) have fallen 69% and 72% respectively from their all-time highs, far outpacing the 48% to 57% pullbacks of major tech stocks including Oracle, Salesforce, Netflix, and Palantir. By comparison, the S&P 500 index has dropped just 3.5% from its recent peak. Fundamentally, Coinbase’s first-quarter results missed Wall Street estimates by a wide margin: revenue fell 21% quarter-over-quarter, posting a loss of $1.49 per share, while analysts had previously projected earnings of $0.27 per share. Bitcoin fell below $60,000 this week, down more than 54% from its October peak. Ethereum also dropped to around $1,500, roughly 69% lower than its record high last year, as market sentiment continues to deteriorate. In its mid-year outlook report, 21Shares cut its 2026 crypto market forecast, noting that digital asset price performance is significantly lagging behind the sector’s fundamentals. The firm pointed out that institutional adoption continues to deepen, with stablecoins, asset tokenization, and prediction markets all maintaining strong growth momentum, but Bitcoin’s four-year market cycle remains the dominant driver of price movements. The report also acknowledged a prior misjudgment: “Bitcoin’s cycle is evolving, but it has not broken,” retracting its earlier claim that the four-year cycle was obsolete. Analysts argue that the sharp pullback in crypto equities reflects a combination of three pressures: overall weakness in the digital asset market, uncertainty surrounding structural legislation for the U.S. crypto market, and the potential impact of AI technology on existing business models.
The crypto sector is preparing for huge token unlocks in July 2026. In this respect, July is set to witness a staggering $1.9 billion in token unlocks in renowned crypto coins. As per the data from DefiLlama, CryptoRank, and Tokenomist, the Rain ($RAIN), Hyperliquid ($HYPE), and Pump.fun ($PUMP) are the leading coins set to witness massive token unlocks. These unlocks are anticipated to increase volatility across the market with fresh liquidity.
$RAIN Leads Token Unlocks of July 2026 with $812 Million worth Unlocks Rain ($RAIN) is the top among July’s top token unlocks. It is going to unlock a huge amount of tokens worth up to $812 million. Particularly, the project will unlock 51.8B $RAIN tokens on the 11th of July. The respective amount accounts for 4.51% of the total token supply.
Hyperliquid ($HYPE) is another crucial project that has scheduled a token unlock for the next month. It will unlock 9.92 $HYPE tokens on the 6th of July. This figure equals 1.038% of the supply and $630M in total value.
Apart from that, on the 12th of July, Pump.fun will unlock 8.94% of its token supply, accounting for 89.38B $PUMP tokens. So, it will unlock a cumulative $117M in terms of overall value. Additionally, Canton ($CC) is currently conducting a daily token unlock, equaling $95.3M. This includes 63.5M $CC tokens, expressing 1.63% of the total supply.
Additionally, World ($WLD) is also going through a daily token unlock comprising $64.9M. This denotes 140.3M $WLD tokens and 1.4% of the supply. After that, TON ($GRAM) is the 6th among the next month’s key token unlocks, with $57.5M set to be unlocked. The respective amount takes into account 36.6M $TON tokens, expressing 0.71% of the supply.
$ADI Bottoms List with $33.6M Set for Token Unlock CryptoRank’s list of unlocks also includes Audiera ($BEAT), which will unlock 21.24M $BEAT tokens ($49.7M) on the 1st of July. Additionally, Official Trump ($TRUMP) is currently conducting a daily unlock of 27.1M $TRUMP tokens ($46.0M), signifying 2.71% of the supply. After that, set for July 3, MemeCore’s ($M) token unlock accounts for 56.1M $M ($39.2M). Concluding the list, ADI Chain ($ADI) will unlock 6.99M $ADI tokens ($33.6M) on July 9.
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Umair Younas is a cryptocurrency-related content writer linked with this work since 2019. Here, at Blockchainreporter, he serves as a news and article writer. He is a crypto, blockchain, NFTs, DeFi, and FinTech enthusiast. He has strong command over writing authentic reviews about brokers and exchanges and he has collaborated with our education team to write educational content as well. He has a dream to raise awareness among people about digital currencies. His works are well-researched and brimmed with information hence they provide fresh insights. Stay tuned to his posts if you want to stay up-to-date with the crypto-verse.
Despite strong outflows from US spot Bitcoin ETFs, Bitcoin managed to hold steady above the $60,000 mark on Saturday. In the last 24 hours, Bitcoin rose by 1.44 percent, trading around $60,260. Its daily trading volume reached $30.16 billion, while its market capitalization stood at $1.21 trillion. Controlling 58.1 percent of the total crypto market, Bitcoin continued to set the pace for the broader industry even amid ongoing selling pressure.
Weekly outflows from ETFs accelerateUS spot Bitcoin ETFs recorded a staggering $1.79 billion net outflow last week. This figure ranks as one of the largest weekly withdrawals since these products launched in January 2024. The recent movement has also pushed the total 2026 US spot Bitcoin ETF flow back into negative territory.
These outflows impacted major issuers, including BlackRock’s IBIT fund. IBIT had earlier ranked among 2024’s fastest-growing ETFs thanks to robust inflows from institutional investors. As one of the world’s largest asset management companies, BlackRock brings significant influence to the global ETF market.
Analysts at Glassnode note that this current wave marks one of the lengthiest periods of outflow since spot Bitcoin ETFs began trading, explaining that most investors are now opting to reduce risk rather than buying more at lower levels.
Bloomberg data shows that about $4.5 billion has exited Bitcoin ETF products since the start of the year. This trend points to the scale of institutional selling pressure throughout 2026.
IndicatorDataBitcoin price$60,26024-hour changeUp 1.44%Weekly ETF net flow-$1.79 billion2026 total ETF outflowApproximately $4.5 billionUnderlying market weakness persistsLosses in Bitcoin ETFs have occurred against a backdrop of persistent weakness in the overall crypto market. Since the severe sell-off that began in October, digital assets have struggled to recover. The total market capitalization of all crypto assets has dropped to roughly $2 trillion, a steep fall from its pre-correction peak of over $4 trillion.
A slowdown in investor activity and a waning of institutional interest have made recovery even more difficult. Capital that might have flowed into the crypto sector instead moved toward artificial intelligence-oriented investments and prediction market platforms. This shift redirected funds that could have supported digital asset valuations.
Early investors see gains erasedThe latest wave of selling has hit those who entered Bitcoin ETFs during stronger periods particularly hard. According to Bespoke Investment Group, early investors were up nearly 30 percent by mid-2025. However, Bitcoin’s extended decline has wiped out much of those gains, leaving the average investor facing a loss approaching 40 percent.
Spot Bitcoin ETFs have emerged as a major channel of institutional demand since their approval. High-value outflows from these products may signal weakening professional investor confidence, which could create additional downside pressure on prices.
Still, ETF flows represent just one aspect of the market. Bitcoin has previously rebounded after periods of heavy institutional selling, especially when overall risk appetite improved or new sources of demand appeared.
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.
Bitcoin (CRYPTO: BTC) price has stalled at a crucial support level as American investors continue selling their ETF holdings. BTC was trading at $60,460 today, June 27, slightly above this month’s low of $58,037.
Bitcoin ETF Outflows are AcceleratingUS investors have continued to dump their Bitcoin ETFs this month, with many of them rotating towards the stock market amid the ongoing artificial intelligence supercycle.
Data compiled by SoSoValue shows that spot Bitcoin ETFs had the worst weekly performance this week. These funds lost over $1.79 billion this week, with most of the outflows being on Thursday when they lost over $696 million in assets. They then lost $444 million in assets on Friday.
Bitcoin ETFs are also on track to have the worst month since they were approved in 2024. They have already lost over $4.06 billion this month, beating the previous record of $3.4 billion, which happened in November last year.
The ongoing outflows is happening as investors rotate from the crypto market to stocks. Data shows that stock market-based ETFs have added over $1 trillion in assets this year, with those tracking the S&P 500 Index adding over $150 billion. DRAM, the recently launched ETF tracking the biggest companies in the memory industry, has added $24 billion in assets since its launch in April.
Bitcoin price retreated below $60,000 earlier this month when Strategy sold just 32 coins.
Bitcoin Price Sits at Crucial Support LevelTechnicals suggest that BTC may be at risk of falling further in the near term. It has already slipped below all moving averages, a sign that bears remain in control for now.
The coin has also formed an inverted cup-and-handle pattern. It is now in the handle section. Therefore, there is a risk that dropping below the year-to-date low of $58,200 will point to more downside as it will invalidate the double-bottom pattern. If this happens, it may drop to $50,000.
Image: Shutterstock
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The pressure from short term Bitcoin investors has surged once again. In the past 24 hours, around 50,000 BTC were sent to exchanges at a loss, marking a significant movement in the market. At the same time, the total market value of short term holders dropped to $237.7 billion, its lowest point since October 2, 2024.
Losses deepen for short term investorsAccording to CryptoQuant analyst Amr Taha, as of June 26, the market value for short term Bitcoin investors fell to $237.7 billion. This measure tracks the value of BTC held by investors who bought within the last 155 days. The current data reveals that the market value for this group has slipped below their cost basis, meaning many recent buyers now find themselves at a paper loss.
The latest drop in short term investor market value stands out not as confirmation of a market bottom, but as a reflection of heightened stress in the market environment.
A similar weakness appeared during the correction of October 2024, when the subsequent reversal established a key bottom for Bitcoin. However, the latest data does not yet indicate a new low; instead, it underscores mounting selling pressure faced by short term investors.
BTC inflows to exchanges hit new highsExchange flows also point to increasing selling pressure. Roughly 50,000 BTC from short term holders was transferred to exchanges at a loss in 24 hours, the largest such move since June 4. Binance alone received approximately 9,500 BTC, the highest such level since June 3 under similar conditions.
This activity suggests that newer investors, who are more sensitive to price swings, are becoming increasingly active on the sell side amid declining prices.
IndicatorLevelComparisonBTC sent to exchanges at a loss50,000 BTCHighest since June 4BTC deposited to Binance9,500 BTCHighest since June 3Short term investor market value$237.7 billionLowest since October 2, 2024Long term holders continue accumulatingBy contrast, long term investors present a more constructive picture. On Thursday, accumulation addresses saw Bitcoin inflows hit a record 181,000 BTC, breaking the previous record of 94,700 BTC from February 2022. These are typically wallets with limited spending history, and the data suggests long term holders are absorbing the supply entering the market.
Glossary: Accumulation addresses refer to wallets that mostly hold incoming assets and rarely spend. An increase in inflows to these addresses, seen in on chain analysis, suggests a growing trend toward long term holding.
The Coinbase Premium Index has remained below zero for 40 consecutive days since May 15, indicating weak demand from professional investors.
Macro data and institutional appetite add market pressureMarket analyst Darkfost noted that institutional appetite for Bitcoin continues to soften. The persistent negativity of the Coinbase Premium Index, which tracks the price gap between Coinbase and Binance, highlights continued discounting on Coinbase—a sign that professional investors are selling more aggressively than retail holders.
Recent US macroeconomic data also reinforced a cautious market mood. Headline PCE inflation reached 4.1 percent, surpassing forecasts of 4.0 percent, while Core PCE rose to 3.4 percent against an expected 3.3 percent. GDP also came in above estimates at 2.1 percent. These figures have dampened hopes for an easing in monetary policy.
Asset manager Bitwise commented that last week’s Federal Reserve meeting only accelerated the central bank’s hawkish stance. The firm noted that policymakers have scaled back expectations for easing and raised the 2026 median federal funds rate forecast from 3.4 percent in March to 3.8 percent. Bitwise also reported continued outflows from crypto investment vehicles like spot ETFs.
Strategy has remained a focal point for the market, accumulating 174,300 BTC in 2026 alone. Bitwise data show that about 96,000 BTC of these purchases were financed by STRC preferred share issuance, with 77,500 BTC supported by MSTR common stock sales. According to CryptoQuant, STRC’s price dropped to $82.5 from its $100 nominal value—a 17.5 percent discount—during last week’s pre market session, sliding further toward $73. The company’s cash reserves have declined by 38 percent since early 2026. Following a $1.5 billion convertible bond buyback, annual dividend obligations jumped from $300 million to $1.2 billion, shortening the dividend coverage period from up to seven years to just 14 months.
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.
CoinGecko’s recent research study provides a comprehensive examination of Bitcoin’s bear market patterns, offering insightful and in-depth context for the ongoing downturn in 2025 and 2026. According to the latest research report, released on June 25, 2026, a bear market is identified as any period of at least 30 consecutive days during which Bitcoin’s daily closing price remains below its 200-day simple moving average.
According to insights from CoinGecko, this metric helps distinguish prolonged weakness from temporary fluctuations by focusing on the long-term trend.
Since 2014, the analysis identifies seven such episodes. The most extended ones stemmed from major structural disruptions.
For instance, the 2018-2019 downturn persisted for 385 days following the peak of initial coin offering enthusiasm, as retail interest faded and global regulations tightened.
Similarly, the 2022-2023 bear market lasted 381 days, sparked by the Terra-LUNA collapse and subsequent failures at major firms like Three Arrows Capital, Celsius, and FTX, which eroded institutional trust and pushed prices below $16,000.
The 2014-2015 cycle endured 321 days after the Mt. Gox exchange meltdown shattered early market confidence.
Shorter bear periods arose from more isolated events. A 2019-2020 consolidation ran for 81 days, while a 2021 correction triggered by China’s mining restrictions lasted 80 days.
The briefest, the 2020 COVID-19 crash, spanned just 52 days but delivered a sharp liquidity shock before stimulus measures aided recovery.
On average, these seven bear markets lasted about 188 days, highlighting wide variation in length depending on underlying causes.
The current 2025-2026 bear market reached 233 days as of June 24, 2026, positioning it as the fourth longest.
It followed Bitcoin’s all-time high near $124,773 in January 2025, with prices falling to a low of around $60,862 on June 7.
This represents a maximum drawdown of 51.2 percent so far—the mildest among all recorded cycles.
In contrast, the three major structural bears saw declines ranging from 76.7 percent to 83.6 percent, erasing the bulk of previous gains.
Even shorter shocks, like the COVID period, produced drawdowns exceeding 74 percent.
The relatively contained losses this time may stem from greater institutional involvement, a maturing market infrastructure, and macroeconomic factors including interest rate volatility and capital shifts toward artificial intelligence themes.
As of late June 2026, Bitcoin traded near $62,651, roughly 2.9 percent above its recent bottom, while the 200-day moving average hovered around $76,450, creating a 22 percent gap.
Historical patterns indicate that reclaiming this average after a confirmed low has taken between 65 and 166 days.
Should the June 7 bottom hold, the quickest recovery precedent points to a potential crossover as early as August 2026, though longer timelines cannot be ruled out.
CoinGecko’s research findings emphasize that bear markets differ significantly in depth and duration. Structural collapses tend to inflict the heaviest damage, while the present cycle reflects evolving market resilience.
For participants, this data underscores the importance of historical perspective and patience amid extended periods of underperformance, even as the asset demonstrates improved durability compared to past episodes. The research report from CoinGecko serves as yet another reminder that while downturns test resolve, they have consistently paved the way for subsequent recoveries in Bitcoin’s 15+ year history.
Fidelity Digital Assets has pushed back against concerns that Bitcoin’s long-term security will deteriorate as mining rewards decline, arguing in a new research report that the network’s economic incentives remain sufficient to secure the blockchain over time.
The report, authored by Fidelity research analyst Daniel Gray, reiterated the view that Bitcoin’s security depends on more than block rewards. Transaction fees, market incentives and other economic forces continue to encourage miners to secure the network and make sustained attacks prohibitively expensive, it said.
The findings challenge a longstanding criticism that each quadrennial halving weakens Bitcoin’s security by reducing the issuance of new coins. Critics argue that declining block rewards could eventually erode miners’ incentives unless transaction fees grow enough to offset the shortfall.
The issue has become one of the most closely watched long-term questions surrounding Bitcoin (BTC), whose fixed supply schedule gradually reduces new issuance until block subsidies eventually disappear. Whether transaction fees and other incentives can sustain network security remains a central debate among developers and market participants.
Since April 20, 2024, Bitcoin miners have received a subsidy of 3.125 BTC for each block they mine, down from 6.25 BTC during the previous halving cycle. However, Gray argued that lower issuance has not translated into weaker incentives for miners because Bitcoin’s rising price has more than offset the decline in block rewards.
He pointed to the growth in average daily miner revenue, which increased from roughly $26,300 during Bitcoin’s first halving cycle to more than $40.2 million today. “Despite declining issuance, miner incentives — and by extension, network security — historically strengthened alongside Bitcoin's price,” Gray wrote.
Bitcoin’s average daily miner revenue has increased substantially across halving cycles. Source: Fidelity Digital Assets
Public Bitcoin miners face mounting financial pressureWhile Fidelity argues that Bitcoin’s long-term incentive structure remains intact, many publicly traded mining companies continue to face near-term financial pressure. Some industry analysts have described the current environment as one of the most challenging on record, citing lower mining rewards, rising costs and growing competition.
In response, several miners have diversified into artificial intelligence and high-performance computing, leveraging existing power infrastructure and data center assets to meet growing demand for AI workloads rather than relying solely on Bitcoin mining.
A recent report by VanEck estimated that publicly traded miners could require up to $50 billion in additional capital to fully transition to AI infrastructure, underscoring the scale and cost of the shift.
Public miners face a large funding gap in realizing their AI ambitions. Source: Miner Weekly
“A Bitcoin mine can run with relatively simple buildings, modular infrastructure and ASIC fleets that tolerate fast curtailment,” Blocksbridge Consulting wrote in a recent Miner Weekly publication. “AI and HPC facilities require higher standards for uptime, cooling, electrical redundancy, networking and customer support.”
Cointelegraph is committed to independent, transparent journalism. This news article is produced in accordance with Cointelegraph’s Editorial Policy and aims to provide accurate and timely information. Readers are encouraged to verify information independently.
Fidelity Digital Assets has pushed back against concerns that Bitcoin’s long-term security will deteriorate as mining rewards decline, arguing in a new research report that the network’s economic incentives remain sufficient to secure the blockchain over time.
The report, authored by Fidelity research analyst Daniel Gray, reiterated the view that Bitcoin’s security depends on more than block rewards. Transaction fees, market incentives and other economic forces continue to encourage miners to secure the network and make sustained attacks prohibitively expensive, it said.
The findings challenge a longstanding criticism that each quadrennial halving weakens Bitcoin’s security by reducing the issuance of new coins. Critics argue that declining block rewards could eventually erode miners’ incentives unless transaction fees grow enough to offset the shortfall.
The issue has become one of the most closely watched long-term questions surrounding Bitcoin (BTC), whose fixed supply schedule gradually reduces new issuance until block subsidies eventually disappear. Whether transaction fees and other incentives can sustain network security remains a central debate among developers and market participants.
Since April 20, 2024, Bitcoin miners have received a subsidy of 3.125 BTC for each block they mine, down from 6.25 BTC during the previous halving cycle. However, Gray argued that lower issuance has not translated into weaker incentives for miners because Bitcoin’s rising price has more than offset the decline in block rewards.
He pointed to the growth in average daily miner revenue, which increased from roughly $26,300 during Bitcoin’s first halving cycle to more than $40.2 million today. “Despite declining issuance, miner incentives — and by extension, network security — historically strengthened alongside Bitcoin's price,” Gray wrote.
Bitcoin’s average daily miner revenue has increased substantially across halving cycles. Source: Fidelity Digital Assets
Public Bitcoin miners face mounting financial pressureWhile Fidelity argues that Bitcoin’s long-term incentive structure remains intact, many publicly traded mining companies continue to face near-term financial pressure. Some industry analysts have described the current environment as one of the most challenging on record, citing lower mining rewards, rising costs and growing competition.
In response, several miners have diversified into artificial intelligence and high-performance computing, leveraging existing power infrastructure and data center assets to meet growing demand for AI workloads rather than relying solely on Bitcoin mining.
A recent report by VanEck estimated that publicly traded miners could require up to $50 billion in additional capital to fully transition to AI infrastructure, underscoring the scale and cost of the shift.
Public miners face a large funding gap in realizing their AI ambitions. Source: Miner Weekly
“A Bitcoin mine can run with relatively simple buildings, modular infrastructure and ASIC fleets that tolerate fast curtailment,” Blocksbridge Consulting wrote in a recent Miner Weekly publication. “AI and HPC facilities require higher standards for uptime, cooling, electrical redundancy, networking and customer support.”
Cointelegraph is committed to independent, transparent journalism. This news article is produced in accordance with Cointelegraph’s Editorial Policy and aims to provide accurate and timely information. Readers are encouraged to verify information independently.
Participants in the digital asset sector were busy this week opining on Bitcoin, AI, stablecoins, and quantum resistance before heading off for the July 4 holiday (in the US).
Bitcoin “BTC’s negative premium on Coinbase has been widening — a sign that U.S. institutional buying remains tepid. Meanwhile, Strategy (STRC) briefly dipped below $84. No immediate blow-up risk, but the ‘what if they need to sell?’ overhang is real, and it’s keeping a lid on sentiment.
“On the technical side, BTC remains pinned under its daily 20- and 50-day moving averages, with short-term MAs bearishly stacked and diverging. The daily RSI sits near 40 — weak, but not yet oversold. Bollinger Bands are tilting slightly downward, with the middle band acting as strong resistance.
“With bulls struggling for follow-through and bears holding the momentum, BTC will likely continue grinding below resistance, probing for real demand on the downside.”
“Bitcoin dropping in price during its quadrennial bear market phase is the norm, not the exception. Layer in a risk-off move in the overbought chip sector, and it adds to the sell pressure from institutions.
“Retail sees the price going down, and many follow like sheep. The smart money looks at the charts and sees a buying opportunity. Nothing fundamental has changed with Bitcoin; it always has a year-long bear market after the bubble pops.”
– Michael Terpin
“The global tech stock selloff of the last 24 hours has coincided with another bout of de-risking out of digital assets and pushing up options prices. This indicates that investors are paying more for insurance against further potential downside price movements.
“We’ve seen this story several times over the past year alone. Fears over lofty AI valuations and concerns around AI spending have driven risk-off moves in US equities, and those risk-off moves have coincided with a selloff in BTC and crypto, which remain strongly correlated to the S&P 500 and Nasdaq-100.
“Seven-day at-the-money BTC implied volatility jumped from 35% to 42%, while the volatility premium for downside protection increased once more. The 25-delta put-call skew, a measure of the implied volatility of out-of-the-money calls relative to puts, has fallen from -3% last week to -10% yesterday.
“We’ve seen OTM puts trade with higher implied volatility than calls for most of this year, unsurprising given how far BTC is from its all-time high. Even brief periods of spot recovery, for example, the May rally back towards $80K, have been unable to drive a meaningful skew back towards call options, further indicating investors’ risk aversion.
“Beyond the recent tech selloff, our data has revealed an interesting trend in volatility and options markets over the first half of 2026, namely the compression in the ETH/ BTC at-the-money implied volatility ratio.
“Last year, that ratio increased to as much as 2.5, indicating that ETH seven-day options traded with an implied volatility 2.5x larger than similarly dated BTC options. In 2026, however, the ratio spent much of the year hovering between 1.3 and 1.4, driven partly by a compression in ETH volatility towards BTC volatility. One potential factor behind that compression could be the impact of institutional sellers of volatility.
“In a SEC filing covering the period ending Feb. 28, Bitmine, the largest digital asset treasury firm for ETH, announced that the ‘Company began entering into ETH-denominated option contracts, primarily through the sale of put options.’”
“Additionally, there are a number of covered-call style ETH ETFs available, including Grayscale’s ETCO, Global X’s EHCC ETF and Amplify ETFs EHY. We’ve speculated in the past that the structural selling of volatility by digital asset treasuries had been one factor contributing to the oversupply of volatility in BTC options markets, and we could now be seeing something similar in ETH options.”
– Thahbib Rahman, research analyst at Block Scholes
Quantum resilience The US Quantum Resilience Clock just became operational
“The attack will begin quietly, inside traffic that was stolen years earlier and stored in a government warehouse, a hostile intelligence archive, or a private server farm no one was supposed to know existed. The files will look useless at first: encrypted diplomatic cables, defence communications, financial records, source code, identity data, and authentication logs.
“Then, one day, the machines will catch up. What could not be read yesterday will become readable tomorrow. That is the premise behind ‘harvest now, decrypt later,’ and it is why Executive Order 14409, ‘Securing the Nation Against Advanced Cryptographic Attacks,’ matters.
“For years, post-quantum cryptography was treated as a technical issue for standards bodies and cybersecurity teams. Important, but not yet urgent.
“That changed when the United States put dates on the board. Federal high-value assets and high-impact systems must move to post-quantum key establishment by Dec. 31, 2030, and post-quantum digital signatures by Dec. 31, 2031. Federal contractors and suppliers supporting federal systems are increasingly drawn into the same operating environment, with NIST-aligned quantum-resilience expectations likely to influence procurement and compliance requirements well before the deadlines arrive.
“Washington is not moving alone. Australia is telling organizations to stop relying on traditional asymmetric cryptography by the end of 2030. Canada is targeting 2031 for high-priority federal systems and 2035 for the rest of its non-classified government systems.
“The United Kingdom wants discovery and planning finished by 2028, priority migrations completed by 2031, and full migration by 2035. The European Union is coordinating member-state transition plans. France, Germany, and Japan are moving on their own tracks. Different capitals, different bureaucracies, same conclusion: the old cryptographic perimeter is running out of time.
‘The private sector has read the intelligence, too. Google has set its own internal target to migrate systems to post-quantum cryptography by 2029. That is not a symbolic date. At Google’s scale, a cryptographic migration is not a software patch; it is a global logistics operation.
“Ethereum is also preparing for the same threat from a different battlefield. Its quantum-resistance roadmap points toward full post-quantum protection by 2029, including changes to the signatures and cryptographic foundations that secure accounts, consensus, and the network itself.
“One is a hyperscale technology company. The other is a decentralized financial and computing ecosystem. Both are moving before the decade is out. But while a centralized giant can mandate a patch from the top down, a decentralized network faces a massive logistical bottleneck: upgrading immutable infrastructure without fracturing the network.
“The challenge extends beyond replacing one algorithm with another. Cryptographic standards will continue to evolve. New vulnerabilities will emerge. Regulatory requirements will diverge across jurisdictions.
“The organizations best positioned for this transition will not simply deploy post-quantum cryptography. They will build the ability to adapt as cryptography itself changes.
“That is the signal everyone else should be watching. The United States remains the world’s largest economy by nominal GDP and the anchor market for global technology procurement. When Washington sets a deadline, federal vendors hear it first. Then cloud providers hear it. Then banks, defence contractors, telecom networks, energy companies, software platforms, insurers, and capital markets hear it. The deadline does not stop at the federal firewall. It moves through the supply chain.
“The organizations that survive this transition will not be the ones that wait for quantum computers to arrive. They will be the ones who already know where their cryptography lives, which systems depend on it, which vendors can migrate, which certificates need replacement, which devices cannot be upgraded, and which contracts need to change.
“The hard part is not the math. The hard part is the inventory and the agility to act on it. Somewhere inside every enterprise is a forgotten protocol, an old appliance, a buried dependency, or a long-lived certificate that still assumes the future will look like the past. Executive Order 14409 is a warning that it will not.”
– Yoon Auh, founder of BOLTS Technologies
Bank of England’s stablecoin stance “The Bank of England’s decision to remove individual ownership caps and lower reserve requirements is a welcome step forward, but the £40B issuance limit suggests policymakers are still focused on the wrong risk.
“The framework assumes stablecoins primarily compete with domestic bank deposits, when much of the demand is driven by cross-border payments. Migrant workers in the UK send more than £9B abroad each year, often losing 6-8% of every transfer to correspondent banking fees and delays.
“A £40B cap on sterling stablecoins may sound generous, but it effectively keeps the infrastructure at pilot scale while dollar stablecoins issued elsewhere are already supporting real remittance flows.
“We operate under US state licensing through Anzens, where regulators focus on reserve quality, redemption rights and consumer protections rather than imposing artificial limits on growth. The UK now stands alone among major jurisdictions in capping stablecoin issuance in its own currency. That distinction will matter when payment networks and infrastructure providers decide where to invest and build.”
– Shantnoo Saxsena, founder and CEO of Encryptus
“The Bank of England’s reversal is less a change of heart than a recognition of reality: cap what people can hold, and sterling stablecoin activity just moves offshore into dollar coins. The US moved first with the GENIUS Act, the EU with MiCA, both ahead of the UK, and Britain couldn’t afford to regulate itself out of its own market.
“What matters is how they softened it. They scrapped individual holding limits but kept 24-hour redemption, reserve-quality rules, and licensed intermediaries, swapping a cap on users for a cap on issuance (albeit a high one). That’s the right instinct: regulate the rails, not the customer. Manage systemic risk through reserves and redemption, not by throttling adoption.
“So yes, a turning point in intent. But with rules final only by the end of 2026 and launches in 2027, the UK is course-correcting from behind, not leading.”
– Bernardo Brites, CEO of Trace
AI IPOs
“Everyone is focused on whether OpenAI or Anthropic reaches the public markets first, but that assumes the future of AI will be decided by model providers. Whether that’s the right assumption is up for debate.
“If you look at how enterprise technology markets typically evolve, the companies that create the most value are not always the ones building the underlying technology. They’re often the ones that make that technology usable, accessible, and embedded in everyday workflows. Most businesses don’t buy AI because they want access to a model. They buy AI because they want to solve a problem.
“An IPO could be an important milestone for OpenAI or Anthropic, but it may also mark the point where the industry starts asking a different question. Not who has the smartest model, but who is actually capturing the value created by AI. Those may not end up being the same companies.”
– Bindesh Vijayan, co-founder and CTO of Myndlab
“Oracle is the first big name to write ‘AI’ into a federal filing as the reason 21,000 people lost their jobs. Read the filing again, though. They spent $1.8 billion on severance and $55 billion building data centers.
“AI didn’t fire those people. A capex bill did, and AI was the cleanest line to write next to the number. When a company needs cash for GPUs, the payroll is the lever, and ‘automation’ is the word that makes the lever look like progress instead of a cut.
“Some of those jobs are genuinely gone. People trained the systems that replaced them, and that part is real. But here’s what I keep coming back to. Once ‘AI did it’ becomes the accepted reason, every board gets permission to cut first and explain later, and nobody asks who could actually still do the work.
“The story flattens 21,000 people into one word. Talent doesn’t disappear when the headcount does. It scatters, and right now there’s no good way to see where it went.
“We watch this from the hiring side every day across the Bondex ecosystem, and the job descriptions are already moving. Roughly one in four roles posted across our network now asks for AI or machine learning skills, up from about one in five at the end of last year.
“The work isn’t vanishing. It’s being rewritten, and the people who can prove they do the new version are about to be the most contested talent on the market. The problem is that proof is exactly what the hiring system can’t deliver. A resume can claim anything, and now AI can generate that claim in 10 seconds.
“That’s the gap we’re building Bondex to close. When the layoff reason is a single word in a filing, the people behind that number need somewhere their actual work is verified and visible, so a recruiter or an AI agent can find them on proof instead of a polished PDF. AI is going to keep reshaping who gets hired. The least it can do is help the right people get found.”
Every four years, Bitcoin cuts its mining rewards in half. Fidelity Digital Assets has spent the last two years building a detailed case for why concerns about network security are overblown.
The firm’s June 2026 report, titled “Bitcoin’s Programmed Security: Part Two,” is a follow-up to its March 2024 analysis and digs into the economic mechanics that keep Bitcoin resilient even as miners earn fewer coins per block. The core argument: the combination of rising hash rates, automatic difficulty adjustments, and growing transaction fee revenue creates a self-reinforcing security model that doesn’t collapse when subsidies decline.
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The numbers behind the argument Since the 2016 halving, Bitcoin’s hash rate has surged by over 8,000%. Since 2020, it has climbed 394%. Both of those stretches included halvings that cut miner rewards in half.
The most recent halving occurred in April 2024, dropping block rewards from 6.25 BTC to 3.125 BTC. The next one, expected around 2028, will reduce rewards further to 1.5625 BTC.
Why the doomsday math doesn’t add up Bitcoin’s difficulty adjustment mechanism recalibrates every 2,016 blocks (roughly two weeks), automatically adjusting how hard it is to mine a block. If miners drop off the network, difficulty falls, making it cheaper for remaining miners to operate. If miners flood in, difficulty rises.
Fidelity notes that while temporary hash rate dips have occurred after halvings, none have resulted in significant security breaches. The report also finds that even in projected low-subsidy environments beyond 2040, the cost of mounting a 51% attack on the network remains disproportionate to any potential gains from doing so.
Transaction fees as the long-term bridge During the April 2024 halving, transaction fees in a single block reached approximately 12 times the block subsidy. That spike was partly driven by the Runes protocol launch, which created unusual demand for block space.
Disclosure: This article was edited by Editorial Team. For more information on how we create and review content, see our Editorial Policy.
