Market Wrap Crypto markets consolidating again; Binance Coin, Dash and Maker are moving, the rest slipping slowly. As widely predicted the crypto market pump was just that as things are starting to dump again today. The movements have been minor but the majority are in the red at the moment as market capitalization slips back to $120 billion.
Bitcoin did not get close to $3,700 today so new resistance levels are forming lower again. Around $3,650 seems to be its stability point for the time being but dips are not being supported and Bitcoin could drop lower, it is currently down half a percent on the day.
Ethereum has held on to second place by not moving over the past 24 hours. Still trading at $120 ETH could get some momentum from the Constantinople hard fork which has been delayed until the end of the month. XRP has lost a little more ground today and the gap between the two is currently just over $200 million.
Most of the top ten are falling back during the Asian trading session today. Tron has dropped the most despite the BTT airdrop today as TRX loses 3.5%. Bitcoin Cash is not far behind with a 3% slide. Only Binance Coin is making progress today adding another 2.5% as it closes the gap on Stellar in ninth which has dumped another 2%.
There are two big movers in the top twenty at the moment. Dash and Maker have added a further 7% on the day trading at $83 and $495 respectively. The Maker dev fund was moved to a new multisig wallet two days ago which caused the CMC market cap spike and the flipping of ETC and NEM. NEO and Zcash have also added 3.5% each to their prices over the past 24 hours but IOTA and NEM continue to slide.
There are no major pumps occurring in the top one hundred at the time of writing. Huobi Token is the best performer adding 15% followed by MOAC with a 12% rise. Getting bashed is yesterday’s pump; Quant followed by Revain both shedding 10% in predictable dumps.
Total market capitalization has not really moved overnight and is still at $120 billion. No further gains for the big cap coins look likely so further consolidation is expected in this channel for the time being. Volume is still at $20 billion and markets are still 6% higher than they were this time last week.
Market Wrap is a section that takes a daily look at the top 20 cryptocurrencies during the current trading session and analyses the best-performing ones, looking for trends and possible fundamentals
Market Wrap Crypto consolidation continues; Litecoin still inching up, NEO making progress, everything else is flat. Crypto markets are looking a little erratic as we enter the weekend but in the grand scheme of things nothing has changed over the past seven days. Total market cap has crept up marginally but most tokens are still consolidating within their slim boundaries.
Bitcoin has bounced of intraday resistance levels of $3,640 twice but is still holding above major support at $3,600. Lower highs have been made all week indicating that BTC is likely to turn bearish soon, especially if it falls below the key $3,600 level.
Ethereum is stable at $123 still, it has not moved a bit over the past 24 hours and remains where it has been since mid-week. XRP is slowly weakening and the gap between the two has now widened to $450 million.
There has been so little action for the majority of the top ten that they are showing tenths of a percent change over the past day. Litecoin is the biggest mover with 2% as it pulls away from EOS and increases the market cap gap between them. Very little else is going on in this section.
NEO is today’s top coin in the big twenty as it adds 3% on the day. Tezos is creeping back towards a top twenty place adding 2% but it is still a way off Zcash. Maker and NEM are dumping 4-5 percent following a couple of days of reasonable gains.
There are only two altcoins in double digits at the time of writing. Ontology and Aelf have added 16% a piece during the Asian trading session. The Parity Games partnership appears to be driving momentum for ONT. There are no big dumps going on at the messy end of the top one hundred but the day’s worst performers are Aurora and Revain.
Total market capitalization has not moved over the past 24 hours and remains a fraction higher at just over $121 billion. Markets are still range bound in a very tight channel where they have been all week. There are no signs of momentum in either direction and the tedium continues in crypto land.
Market Wrap is a section that takes a daily look at the top 20 cryptocurrencies during the current trading session and analyses the best-performing ones, looking for trends and possible fundamentals
Crypto markets marching upwards again; EOS and Litecoin leading the charge, BNB cools off. EOS up 16% from $3.3 to $3.83 in 48 hours. Market Wrap Momentum is gaining once again on crypto markets following a little cooling off yesterday. Most cryptocurrencies are in the green at the moment and total market capitalization has topped $135 billion for the first time in six weeks.
Bitcoin hit resistance again at $4,000 twice in the past day but it has not fallen back and is holding there at the time of writing. It is currently up 1.3% from yesterday’s minor correction but has failed to break this crucial level. The next move for BTC is likely to be a big one.
Ethereum has regained momentum and has moved up a further 3% on the day to reach $148. ETH remains well supported and the next resistance level is at $150. The gap to XRP is almost $2 billion again as the Ripple token makes minimal progress today.
The top ten is green once again and EOS is the day’s leader with a gain of 8% taking it to $3.90. Litecoin has also had a very strong few hours with 7% added increasing its market cap over $3 billion and breaking through a crucial psychological resistance level of $50. Stellar has also shifted gear today with a 6% rise as it pulls away from Tron.
EOS Surges 16%, Source: TradingView The top twenty is equally buoyant during Asian trading today with everything bar Binance Coin in the green. Maker is yet again the top performer in this section with another 5.5% added on the day. Most other coins here are making 2-3 percent as the rally pushes slowly higher.
REPO and Crypto.com’s MCO token are getting a dose of FOMO at the moment as they both have risen by 20%. There are no big dumps currently but Revain is currently the top one hundred’s worst performer losing almost 5% on the day.
Source: Coinmarketcap.com Total crypto market capitalization is still moving up and has retained momentum. It is currently 2.2% higher on the day as it pushes through a six week high of $136 billion. Daily volume has fallen back below $30 billion though but it has maintained strong levels. Since last Thursday markets have made over 12% and hopes are that this will continue.
Market Wrap is a section that takes a daily look at the top 20 cryptocurrencies during the current trading session and analyses the best-performing ones, looking for trends and possible fundamentals.
Crypto markets have found a new level; Binance Coin pumping hard, EOS and Maker still sliding. Market Wrap Monday’s crypto market dump has found a new level and the selloff has abated over the past 24 hours. This has prevented another huge rout though further losses cannot be ruled out. Total market capitalization has stabilized above $125 billion for the time being.
After dumping $100 yesterday Bitcoin has found a new channel around $3,760 where it has traded for the past day. Daily volume is back up to nearly $9 billion for BTC but it appears to be all bearish at the moment. As predicted Bitcoin fell after failing to break strong resistance at $3,900, all indicators suggest that further losses are imminent.
Ethereum has leveled out at around $127, dropping a further percent or so on the day. All of February’s gains are getting wiped out as ETH continues to weaken and follow in the shadow of Bitcoin. XRP has not fallen in the same magnitude which has reduced the gap between second and third places to just $800 million. The Ripple token is currently trading at $0.305.
Binance Coin price 24 hours. Coinmarketcap.com Only one altcoin is surging in the top ten during today’s Asian trading session and it is developing a pattern of its own. Binance Coin appears to be behaving like a stablecoin; it pumps when markets dump. BNB is currently up 10.5% as it hits an 8 month high of $12.50. Binance boss CZ appears to have taken over from Justin Sun for volume of twitter posts in any given day;
Either way his exchange backed token is flying at the moment as it surges past Stellar and Tron to take eighth spot by market cap which is currently $1.7 billion. Changpeng Zhao’s current AMA and recent DEX announcements are driving momentum for BNB. Tron is the only other altcoin in the green in the top ten as it made almost 3% over the past 24 hours.
Looking further down at the top twenty Bitcoin SV is having a rare bounce as it adds 4% on the day taking its price to $66.50. The rest are still in the red with Maker shedding the most at 5%. Monero, NEM and Zcash are all still weak with further losses of 3% today.
FOMO: MOAC on The Move Today’s fomo induced pump is MOAC which is up 14% at the time of writing. There does not seem to be much driving momentum for this multi-level blockchain scaling platform so it could well be tomorrow’s dump. Also getting a boost at the moment is Loom Network with a 12% pump.
Following a couple of days of fomo, Ravencoin is cooling off today as it becomes the top one hundreds biggest loser dumping 13% on the day. Revain and Bitcoin Gold are not far behind as they both shed 12% making up the only three to drop double digits at the moment.
Total crypto market capitalization has found a temporary floor at $126 billion following the $4 billion dump yesterday. Daily volume has crept back up to $28 billion but signals are bearish and the selloff is likely to continue. Crypto markets are at exactly the same place they were three months ago as the consolidation continues.
Market Wrap is a section that takes a daily look at the top cryptocurrencies during the current trading session and analyses the best-performing ones, looking for trends and possible fundamentals.
Crypto markets pulling back sharply; Litecoin, EOS, Bitcoin Cash and SV getting smashed, Crypto.com gets fomo. Market Wrap As expected crypto markets are finally dumping as we end the week. Over $16 billion has been lost as markets fall from their 2019 high back to $170 billion or so. Bitcoin initiated the dump but so far has remained above key support levels. It is the altcoins that are bleeding today.
Bitcoin fell below $5,000 for the first time in a week and settled at $4,950 before recovering slightly. The failure to break resistance at $5,400 has sent BTC back down as it drops around 4% on the day. Many had predicted this pullback and foretell further losses back to major support at $4,600 where the 200 day moving average is.
Ethereum has fallen harder as expected with a drop of 5% back below $165 again. There was no push to $200 for ETH which is still rising and falling along with its big brother. The gap between it and XRP in third is now much larger though at almost $4 billion market cap.
The top ten is a sea of red during today’s Asian trading session. The altcoins are getting hammered, some by double digits. Litecoin is losing 9% today as it falls back to $77, EOS and Bitcoin Cash are not doing a great deal better with 24 hours loses of 6 – 7 percent. Stellar and Cardano have both dumped 5% as Tether moves back up the chart.
The top twenty is awash with equal pain as Bitcoin SV, Ontology and Maker dump ten percent a piece. Close behind is Tron, NEO and Ethereum Classic with losses of over 6% on the day.
FOMO: Crypto.com Crushing It Despite the massive market correction Crypto.com’s Chain is flying today with a 25% fomo pump to $0.093 (1860 satoshis). There does not appear to be much driving the fomo, the only recent news is that the company donated $500k to Binance charity. South Korean markets are dominating trade in CRO with Upbit taking 40% of the total volume.
TrueChain is also getting fomo today with a 20% pump and Lambda is the third altcoin in double digits at 17%. KuCoin Shares are still getting dumped with a further 11% lost today. ABBC Coin and Revain, the usual suspects, are also dumping 10% each following recent pumps.
Total market capitalization 24 hours. Coinmarketcap.com Total crypto market capitalization has lost 5.5% in 24 hours falling from around $180 to just below $170 billion. Markets reached a new 2019 high on Thursday with a brief surge to $186 billion but since then $16 billion has been wiped out. This could be a short term pullback or the beginning of a final capitulation that so many analysts have been talking about.
Market Wrap is a section that takes a daily look at the top cryptocurrencies during the current trading session and analyses the best-performing ones, looking for trends and possible fundamentals.
Crypto markets pulling back; Bitcoin dominance rising, BNB and Cardano falling, BAT getting attention. Market Wrap Crypto markets have held gains largely thanks to Bitcoin’s rally yesterday. Total market capitalization remains over $180 billion at the time of writing as BTC eats into the altcoins while its dominance climbs to the highest levels this year.
Bitcoin surged through $5,600 yesterday and spent most of the past 24 hours above it. It has started to pull back now though in early Asian trading and was sitting around $5,550 this morning. Volume is currently at a weekly high of $16 billion and momentum has remained with BTC which has increased its total market share. Analysts are expecting a pullback but the correction should not be too severe;
$BTC Daily Chart.
There are multiple Fib clusters lined up at the 5850 area. Not to mention that it rejected at the 127.2 retrace today. IMO, getting close to a local top. Not saying to sell all out, but if me, I would reduce exposure and see what the correction looks like. pic.twitter.com/VP6ZpTIQUN
— CryptoFibonacci (@CryptoFib) April 24, 2019
Ethereum has dropped back to just below $170, it did not react with BTC this time and has remained pretty flat over the past week or so. ETH is falling back to last week’s levels as all gains get wiped out.
Altcoins have not rallied this time around and the top ten is all red today. The biggest two losers are Binance Coin and Cardano which have dumped 6 to 7 percent on the day. The rest have slumped 2 to 4 percent as traders move into Bitcoin or back into stablecoins.
There are only a couple of beacons of green in the top twenty at the time of writing. Monero and Tezos have made marginal gains but all those around them have fallen back. IOTA, Ethereum Classic and Ontology have dumped hard dropping over 6 percent each. The rest are losing 3 to 5 percent during early trading this Wednesday.
FOMO: BAT Back At It There are no major pumps going on in the top one hundred at the moment but the best performing altcoin is Basic Attention Token after a few days of declines. BAT is up 9 percent on the day to reach an intraday high of $0.45. Brave browser ads have gone live according to the Reddit which has driven momentum for BAT again.
Aurora and NULS are making around 8 percent today but there are no double digit gains as most altcoins are getting eaten by Bitcoin. The biggest loser today is yesterday’s fomo coin, DigixDAO dropping 17 percent. Digitex Futures and Revain are also getting dumped doubles today.
Total market cap 24 hours. Coinmarketcap.com Total market capitalization has corrected a little back to $181 billion. Most of yesterday’s gains have been lost by altcoins but Bitcoin is holding on to them at the moment. Market dominance has risen to a four month high of 54.2 percent as Bitcoin controls the markets at the moment.
Crypto markets sliding slowly; EOS, Cosmos ETC accelerating losses, BSV and Tron holding steady. Market Wrap The crypto correction appears to have slowed today but has not reversed and the short term trend is still downwards. Markets have settled a little following yesterday’s big dump but further losses could be imminent. Total market capitalization has now dropped below $250 billion.
Bitcoin has spent a large part of the past 24 hours hovering around $8,000 but could not hold that level. A slide last night dropped it back below $7,500 but BTC has since recovered marginally. Lower highs and lower lows indicate further losses however; Bitcoin is currently trading at $7,750.
Ethereum has weakened slightly and is now back below $245. Price has turned short term bearish and it is likely to mimic what Bitcoin does over the course of the day. Major ETH support lies at $240.
The top ten is still largely in the red for the third day this week. Losses have decelerated though and altcoins appear to be preparing for a bounce which may be short lived. EOS has dumped a further 6 percent dropping back to $6.20 while Litecoin hold steady above it in fifth. The rest have not moved much aside from Bitcoin SV which, adding another 4 percent, could be manipulated again.
Top twenty movements during Asian crypto trading today are larger, and mostly in a southerly direction. Ethereum Classic has dumped the most with 11 percent back to $8.18 while Cosmos is close behind dropping 8. NEO and Tezos continue their slide with another 6 percent lost each. Only Tron is making a little back today as 4 percent is added to TRX to reach $0.035.
FOMO: HedgeTrade Hedges In Something called HEDG has surged into the top one hundred with a 50 percent pump today however an obscure spike in price that instantly dumped is responsible. GXChain and Bytom are both going strong at the time of writing with 14 percent added each and Revain has been revived with a 13 percent gain on the day.
At the messy end of the tables Crypto.com Chain sliding back 12 percent. Ravencoin is also in a bad way this morning with an 8 percent dump.
Total market cap 24 hours. Total crypto market capitalization has declined for another day but only by 1.6 percent to $248 billion. Over the week a downtrend has started to form and losses could accelerate if Bitcoin and its brethren cannot hold their support levels. Daily volume is still a high $80 billion and BTC dominance has crept back up to 55.7 percent.
Market Wrap is a section that takes a daily look at the top cryptocurrencies during the current trading session and analyses the best-performing ones, looking for trends and possible fundamentals.
DeFiLlama, the largest data aggregator and dashboard for Decentralized Finance (DeFi), has displayed the list of Top 15 Projects by weekly TVL Growth. Total Value Locked (TVL) means the total dollar value of cryptocurrency assets locked within a certain decentralized finance (DeFi) protocol. Wildcat Protocol ($Wildcat) stands at the first position with $26.8M in TVL, after increasing the change of +107%, in the given list of other top projects over the past 7 days.
In the same way, Sentora Network ($Sentora) is in the Second position in this race with $1.2B in TVL, with a change of +85.6%. Phoenix has released this news through its official X account after collecting data from different platforms.
Fantom and Hyperliquid Climb TVL Rankings with Strong Weekly Gains Fantom ($FT) and Hyperliquid ($HYPE) got third and fourth position with $64.1M after getting +24.7% increase and $523.1M with +21.0% increase in value, in TVL, respectively. Hyperliquid ($HYPE) has a Market Cap of $7.5B. These two Projects show a massive difference in terms of TVL, about 459M.
Simultaneously, Mito Finance ($MITO) stands with $2.1M with a change of +18.4% in TVL, and Notional Finance ($NOTE) at a new value of $15.1M after getting an increase of +15.7% in TVL, respectively. Mito Finance ($MITO) has a Market Cap of $10.7M.
In addition, more projects are fighting to survive in this list over the past week. In this Altura ($ALU), Datamine Network ($DAM), and Pax Gold ($PAXG) gained $3.1M with an increase of +13.5%, $54.5M with an increase of +10.0%, and $2.3B after getting a +8.9% increase in TVL, respectively. These three crypto coins have a middle position in the given list of Top projects over the past week.
$BIFI, $LON and $NEAR Show Diverging Momentum Beefy ($BIFI), Tokenlon Network Token ($LON), and NEAR Protocol ($NEAR) observed with huge divergence among them, both in terms of TVL and Market Cap. $BIFI has attained a value of $286.5M with an increase of +8.5% and has a market cap of $10.6M. $LON has a new value of $1.2M after getting +8.3% increases in its value over the past week and holds a Market Cap of $38.9M.
Moreover, $NEAR gained a TVL of $55.9M, with a Market Cap of $1.4B, and gained this value after the increase of +6.2%. Securitize, Inc. ($Securitize) rose with a new value of $2.6B in TVL after a +5.8% increase.
Spiko Finance ($Spiko) and Sky Protocol ($SKY) got second last and last position, respectively. In this list, $Spiko and $SKY gained a hype of +4.1% and +3.1% in TVL value and appeared with a new value of $946.7M and $5.6B, respectively. $SKY has a Market Cap of $1.5B.
AUTHOR
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.
Sonic (S), previously Fantom (FTM), is extending its recovery trade at $0.048 at the time of writing on Thursday, after rebounding by over 12% the previous day. The recovery thesis’ strengths lie in the optimism surrounding Sonic Labs’ Wednesday announcement to shift to a vertically integrated model, aimed at boosting S token utility. On the technical side, the outlook suggests further gains, targeting $0.070.
Sonic Labs announces shift from a gas-fee–centric value-capture model to a vertically integrated strategySonic Labs, the team behind the high-throughput Layer 1, announced on Wednesday a shift from a gas-fee–centric Layer 1 value-capture model to a vertically integrated strategy.
This shift aims to build or acquire core applications and financial primitives to internalize key economic activity and to direct trading fees, protocol income, and application revenues to the S token, thereby increasing S token utility.
Against a backdrop of blockspace oversupply and ongoing fee compression, the team stated in a Wednesday X post that transaction fees alone are insufficient for sustainable value capture.
The FeeM rolled out by Sonic last fall, which aimed to create token deflation by allowing app builders to capture up to 90% of the fees generated by their apps while burning the rest. This vertical integration will not replace the system but will reinforce it by redirecting fees to a system that rewards S token holders, the team said.
“As these revenue streams build, it will allow the Labs team to execute buybacks at sustainable rates,” the Sonic team noted.
Sonic’s native token S rose over 12% following the announcement on Wednesday and, as of Thursday, continues to trade 5% higher at $0.048.
Sonic Price Forecast: S shows early signs of recoveryOn the daily chart, Sonic's price is trading at $0.048 as of Thursday. The 9-day Simple Moving Average (SMA) remains below the 50-day SMA, and both slopes are lower, keeping the broader bias bearish. However, S holds above the 9-day SMA at $0.044, while the 50-day SMA at $0.070 caps rebounds. A bullish crossover emerges as the Moving Average Convergence Divergence (MACD) line rises above the Signal line near the zero mark, with a nascent positive histogram hinting at improving momentum. The Relative Strength Index (RSI) sits at 39.80 and rises from earlier lows, but remains below 50.
The descending trend line from $0.213 limits gains, with resistance seen at $0.057. A daily close above that barrier could extend the recovery phase, whereas failure to clear it would keep sellers in control and leave the market vulnerable unless the price sustains above the short-term average.
(The technical analysis of this story was written with the help of an AI tool.)
Sonic Labs focuses on strengthening the value of its S token. Sonic plans to build and acquire core applications and infrastructure, with integrated revenue streams. Sonic Labs, the blockchain development company formerly known as Fantom Foundation, announced that it is going to focus on measurable value creation by building and acquiring products that directly strengthen the value of the S token.
The article, published on X by Sonic Labs on February 11, titled “Vertical Integration: The Missing Link in L1 Value Creation,” explained that Sonic is changing away from its traditional Layer 1 growth model, which focused on expansion that generates activity but fails to produce lasting economic value.
Sonic team said, “We are evolving Sonic into an ecosystem where core infrastructure, applications, and liquidity are intentionally aligned around reinforcing the S token’s economics. This alignment is designed to ensure that usage, liquidity, and incentives translate directly into sustained demand for the S token.”
Gas Fee Model Faces Pressure Sonic believes that relying solely on gas fees to generate value is becoming less successful. As more blockchains are coming and scaling technology advances, blockspace becomes more accessible and less scarce. This increased competition is pushing transaction prices lower. So, Layer 1 networks struggle to create lasting value, even if they host a lot of activity.
So, the Sonic team stated, “This is why the next chapter of Layer 1 evolution is not just about scalability. It is about vertical integration: a protocol’s ability to own, internalize, and monetize its most important economic activities.”
For that, Sonic cited successful examples like Hyperliquid, which designed the main trading application to be the chain itself, so that each trade and fee directly benefits the HYPE token. According to Sonic, vertical integration allows for this type of design.
Vertical Integration: Building Core Applications and Infrastructure In order to execute, “Sonic will acquire and integrate high-quality application teams from across the industry to develop foundational ecosystem primitives in-house.” Where that application will handle trading, lending, payments, settlements, credit systems, and risk markets. With that, it will ensure that the value created doesn’t leave Sonic, noted in the article.
Also, Sonic Labs noted that its existing Fee Monetization system, FeeM, could be integrated with apps to help the network scale more, while boosting the S token ecosystem.
Further, these revenue sources, which are fueled by actual income from integrated core applications and infrastructure that grow with the network, can fund long-term buybacks of the S token.
Before Sonic, this buyback plan was recently approved by the Ethereum Layer 2 Optimism, it would redirect 50% of the ecosystem’s revenue toward OP token purchases.
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SBI announced it will acquire cryptocurrency trading platform Bitbank for 46.7 billion yen.
According to Nikkei News, Japanese financial group SBI Holdings announced on the 25th that it will acquire cryptocurrency exchange platform bitbank for 46.7 billion yen (approximately $288 million). Upon completion of the transaction, SBI Group’s crypto asset custody scale is expected to exceed 1 trillion yen, making it one of the largest operators in Japan’s crypto industry. Per the plan, a subsidiary under SBI Holdings will acquire Bitbank shares from individual shareholders including its founders as early as August this year. Bitbank will then repurchase shares held by existing shareholders MIXI and Ceres by the end of October. If combining data from SBI’s own crypto exchange SBI VC Trade and Bitbank, as of April this year, the two firms had a total of around 2.92 million accounts and total custody assets of approximately 1.1 trillion yen. While different crypto exchanges disclose custody assets at varying time points, among Japan’s major industry competitors, bitFlyer held about 960 billion yen in custody assets as of the end of December 2025, and Coincheck had around 800 billion yen as of the end of March 2025.
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Bithumb was fined for sharing user data overseas without consent.
South Korean regulatory authorities have ordered cryptocurrency exchange Bithumb to pay a 210 million won (approximately $136,000) fine for sharing user personal information with overseas platforms without user consent. According to an announcement released Thursday by South Korea’s Personal Information Protection Commission (PIPC), the relevant user data exposure occurred between September and November 2025. At that time, Bithumb transferred user information to overseas platforms while sharing its USDT market order book data. The PIPC also noted that when assisting users with asset transfers to 13 overseas exchanges, Bithumb failed to obtain full and sufficient user consent before sharing personal details including names, wallet addresses, and dates of birth. For the two violations, the PIPC not only imposed the fine but also ordered Bithumb to rectify its processes and management systems related to cross-border transmission of user information.
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Analyst: SK Hynix’s US listing and fund-raising could trigger a valuation re-rating.
According to Bloomberg, SK Hynix is set to issue American Depositary Receipts (ADRs) on the Nasdaq on July 10. The listing aims to raise nearly $30 billion, making it one of the largest ADR issuances in history. Market participants widely believe the move will significantly expand its global investor base and may drive a valuation re-rating. Multiple asset management firms project that if its valuation converges with Micron Technology’s, its share price could rise by 30% over the next year. One fund manager noted that SK Hynix should trade at a valuation at least on par with Micron, as demand for memory chips is likely to outpace supply for years to come. The listing comes amid an unusually strong boom in the memory chip sector. Shares of Micron, SK Hynix, and Samsung Electronics have all surged over 200% this year, marking their best annual performance in decades. Demand for High Bandwidth Memory (HBM) from AI servers is widely seen as the driver of a structural "memory supercycle".
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Jefferies: Samsung is likely to follow SK Hynix’s example to list in the US via ADRs.
Jeff Kim, Head of Research at Jefferies, said Samsung is likely to follow SK Hynix in listing on the U.S. market via American Depositary Receipts (ADRs), which will boost the share price of the South Korean chipmaker whose valuation lags behind Micron. "Chip stocks are at a turning point. ADRs will serve as an important catalyst to drive their valuations," he added.
A prominent on-chain analyst has claimed that IT workers linked to North Korea were involved in building over 40 major decentralized finance (DeFi) protocols since the sector’s rapid expansion in 2020, raising new concerns about the reach and sophistication of state-sponsored actors in the crypto industry.
The depth of infiltration in DeFiThe latest controversy centers around the analyst known as Tay, who outlined how developers allegedly connected to North Korea, also called the Democratic People’s Republic of Korea (DPRK), became embedded in the teams behind several recognized DeFi projects. Tay reported that these individuals were not limited to conducting attacks or stealing from protocols but actively participated in building the underlying infrastructure.
This information was shared during an ongoing discussion on the social platform X, sparked by a separate account recalling a job interview experience with an individual later linked to the Lazarus Group, the well-known hacking collective tied to DPRK. According to the account, the candidate demonstrated convincing technical skills, passed standard screenings, and participated in video calls before declining further interviews that required travel.
Drift Protocol, a DeFi project focused on derivatives trading, was cited as a recent example where a state-affiliated agent was discovered to have worked within the team for six months before a significant exploit occurred in April 2024. This case mirrors concerns that advanced actors have found new methods to remain undetected within crypto startups.
Tay’s response went beyond isolated anecdotes, sharing a list of over 40 projects where DPRK IT workers reportedly contributed. Well-known protocols like SushiSwap, Thorchain, Yearn Finance, Fantom, and Harmony appeared among the names, surprising many users, including experienced market observers who were unaware of such connections.
Skilled developers embedded in key projectsAccording to Tay, the backgrounds of these workers often appeared solid, with resumes listing extensive experience in blockchain development. In Tay’s words, the claims of “seven years of blockchain development” were not fabricated. These developers were described as highly competent, capable of passing technical interviews and writing meaningful code.
When asked about financial damages associated with these activities, Tay estimated that at least $6.7 billion had been siphoned from the crypto industry through efforts involving DPRK-linked individuals operating inside legitimate organizations and projects.
Several projects listed by Tay were discussed in more detail. For instance, Harmony was mentioned in connection with an embedded developer who later assisted users whose wallets had been compromised, while a separate hacking group perpetrated a major incident involving the protocol. Beanstalk, another DeFi protocol, was highlighted in relation to worker involvement distinct from those who executed actual exploits.
In SushiSwap’s case, Tay referenced prior research identifying a developer known as Eratos, also referred to as Anthony Keller or Daiki Saito, highlighting past reporting that had already flagged this individual’s links to North Korea. The documentation for this claim was attributed to the website chollima-group.io, which researches DPRK cyber operations.
Industry response and broader implicationsWhile regulatory authorities have recently intensified efforts to disrupt North Korean IT worker networks, with the U.S. Treasury’s Office of Foreign Assets Control (OFAC) targeting several individuals and entities in 2024, Tay’s analysis implies that infiltration has been an ongoing issue since the early days of DeFi and involves more organizations than previously recognized.
OFAC’s inquiries revealed that networks of DPRK workers operating under false identities generated hundreds of millions of dollars by securing jobs at crypto firms worldwide. However, Tay’s disclosures point to a deeper risk: state-linked actors not only seeking employment but also shaping the development and security of widely used protocols.
Tay, known within the crypto community as a veteran in on-chain analysis and threat research, continues to update the thread and expand on these findings. The allegations have since sparked renewed debate about the ability of emerging crypto projects to vet contributors and shield themselves from sophisticated long-term infiltration strategies.
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.
Since Sonic launched, the ecosystem has steadily migrated to the new network across users, builders, liquidity, and validators. That transition has been successful, and Sonic now serves as the primary home of the ecosystem.
Sonic was built as a new chain with a stronger technical foundation and improved performance, rather than as a continuation of Opera. Over time, Opera’s remaining role has become limited as the ecosystem established itself on Sonic.
The ecosystem has also had substantial time to complete this move. Migration incentives were introduced in June 2024, the transition was outlined publicly in September 2024, and Sonic launched on December 18, 2024. Since then, users, partners, and infrastructure providers have had an extended window to migrate with low disruption. Validator migration has already taken place, and Opera now remains as legacy infrastructure.
Sunsetting Opera is also a security and operational decision. It allows us to close the Opera FTM → S bridge, reduce legacy bridges and infrastructure, and focus resources more efficiently on Sonic’s security and operations.
This does not mean Fantom Opera data or chain history are being deleted. It refers to the retirement of remaining legacy Opera infrastructure. Chain data and historical records will remain preserved.
This DOES NOT affect the ERC-20 FTM → S route or the Sonic Gateway. The ERC-20 FTM → S route will remain supported while some exchanges complete their migration.
Users still relying on Fantom Opera mainnet or the Opera FTM → S bridge should complete any necessary transfers before 5:00 PM GMT on June 30, 2026. Failure to do so will prevent any further migration from FTM to S.
With Opera sunset, the transition to Sonic will be effectively complete. The network, validator base, liquidity, and ecosystem activity have already moved, and this step closes out the remaining legacy infrastructure associated with Opera.
Sonic Labs: The Fantom Opera network will cease operation on July 1st; users must migrate their assets in time.
PANews reported on April 8th that Sonic Labs announced on its X platform that the Fantom Opera network will officially cease operations on June 30, 2026 at 17:00 GMT (July 1, 2026 at 01:00 Beijing time). Users who have not completed their asset migration must do so before this deadline. The ERC-20 version of the FTM to S token exchange channel and the Sonic cross-chain bridge are not affected by this shutdown.
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SBI Group announces acquisition of Japanese crypto exchange Bitbank for approximately $289 million
SBI announced it will acquire cryptocurrency trading platform Bitbank for 46.7 billion yen.
According to Nikkei News, Japanese financial group SBI Holdings announced on the 25th that it will acquire cryptocurrency exchange platform bitbank for 46.7 billion yen (approximately $288 million). Upon completion of the transaction, SBI Group’s crypto asset custody scale is expected to exceed 1 trillion yen, making it one of the largest operators in Japan’s crypto industry. Per the plan, a subsidiary under SBI Holdings will acquire Bitbank shares from individual shareholders including its founders as early as August this year. Bitbank will then repurchase shares held by existing shareholders MIXI and Ceres by the end of October. If combining data from SBI’s own crypto exchange SBI VC Trade and Bitbank, as of April this year, the two firms had a total of around 2.92 million accounts and total custody assets of approximately 1.1 trillion yen. While different crypto exchanges disclose custody assets at varying time points, among Japan’s major industry competitors, bitFlyer held about 960 billion yen in custody assets as of the end of December 2025, and Coincheck had around 800 billion yen as of the end of March 2025.
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Bithumb was fined for sharing user data overseas without consent.
South Korean regulatory authorities have ordered cryptocurrency exchange Bithumb to pay a 210 million won (approximately $136,000) fine for sharing user personal information with overseas platforms without user consent. According to an announcement released Thursday by South Korea’s Personal Information Protection Commission (PIPC), the relevant user data exposure occurred between September and November 2025. At that time, Bithumb transferred user information to overseas platforms while sharing its USDT market order book data. The PIPC also noted that when assisting users with asset transfers to 13 overseas exchanges, Bithumb failed to obtain full and sufficient user consent before sharing personal details including names, wallet addresses, and dates of birth. For the two violations, the PIPC not only imposed the fine but also ordered Bithumb to rectify its processes and management systems related to cross-border transmission of user information.
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Analyst: SK Hynix’s US listing and fund-raising could trigger a valuation re-rating.
According to Bloomberg, SK Hynix is set to issue American Depositary Receipts (ADRs) on the Nasdaq on July 10. The listing aims to raise nearly $30 billion, making it one of the largest ADR issuances in history. Market participants widely believe the move will significantly expand its global investor base and may drive a valuation re-rating. Multiple asset management firms project that if its valuation converges with Micron Technology’s, its share price could rise by 30% over the next year. One fund manager noted that SK Hynix should trade at a valuation at least on par with Micron, as demand for memory chips is likely to outpace supply for years to come. The listing comes amid an unusually strong boom in the memory chip sector. Shares of Micron, SK Hynix, and Samsung Electronics have all surged over 200% this year, marking their best annual performance in decades. Demand for High Bandwidth Memory (HBM) from AI servers is widely seen as the driver of a structural "memory supercycle".
2 minutes ago
Jefferies: Samsung is likely to follow SK Hynix’s example to list in the US via ADRs.
Jeff Kim, Head of Research at Jefferies, said Samsung is likely to follow SK Hynix in listing on the U.S. market via American Depositary Receipts (ADRs), which will boost the share price of the South Korean chipmaker whose valuation lags behind Micron. "Chip stocks are at a turning point. ADRs will serve as an important catalyst to drive their valuations," he added.
PANews reported on April 19 that Curve Finance stated on its X platform that due to an attack on the LayerZero infrastructure related to rsETH, it has suspended its LayerZero cross-chain function as a precaution until the root cause of the problem is clarified.
The impact of this adjustment includes:
CRV cross-chain bridges from chains such as BNB Chain, Sonic, Avalanche, Fantom, Etherlink, and Kava (other chains still use native bridges). fast cross-chain bridging for crvUSD is paused (slow bridging for L2 is still available). Curve stated that it will decide whether to restore the relevant functions after further clarifying the cause of the incident.
Ethereum is approaching a critical technical crossroads as bearish momentum continues to weigh on price action. With a major support zone now under intense pressure, traders are closely watching whether bulls can defend this level or if a breakdown will open the door to a deeper decline.
Bear Flag Breakdown Keeps Ethereum Under Pressure Ethereum continues to slide, aligning with the broader bearish sentiment currently dominating the market. According to analysis from More Crypto Online, the asset’s recent breakdown from a previously identified bear flag and rejection of the yellow trendline strengthen the hypothesis that the significant B-wave rally peaked back in April. These technical failures serve as strong indicators that the prevailing trend remains firmly to the downside.
The leading scenario currently suggests that Ethereum is developing within a larger C-wave decline, with major support levels established at $1,550 and $1,400. While the price has already begun to react from the first support area, traders should remain cautious because bear market cycles frequently involve corrective rallies that can emerge unexpectedly from these support zones.
Source: Chart from More Crypto Online on X In terms of risk management, any potential recovery attempt is anticipated to remain strictly corrective as long as the price continues to trade beneath the yellow trendline resistance. However, a stronger recovery would require the bulls to reclaim substantial resistance levels and fundamentally invalidate the current bearish framework. At this stage, such a reversal lacks the necessary confirmation and market strength.
Ultimately, Ethereum remains locked in a definitive bearish trend following its exit from the bear flag formation. With support levels at $1,550 and $1,400 now squarely in focus, the structural setup continues to favor lower price action over an immediate reversal.
ETH Reaches A Critical Decision Zone Crypto analyst MarketMaestro noted in an X post that Ethereum has successfully held both its long-term support trendline and a key Fibonacci support level on the monthly chart. According to the analyst, the current price zone has become a critical battleground between a routine correction and a much deeper structural decline.
A monthly close below the current support area would significantly weaken Ethereum’s technical outlook and raise the risk of a broader breakdown. On the other hand, if support continues to hold, the recent pullback could still be viewed as a healthy correction within the asset’s longer-term bullish framework.
Furthermore, if Ethereum manages to hold support, form a wick on the monthly candle, and rebound from current levels, it would suggest that buyers are aggressively accumulating during the dip and treating it as a high-value entry zone.
Despite the possibility of a recovery, MarketMaestro cautioned that the stakes remain high. A decisive breakdown below support could force Ethereum into a prolonged bottoming process, potentially extending the period of weakness before a sustainable uptrend.
ETH trading at $1,561 on the 1D chart | Source: ETHUSDT on Tradingview.com Featured image from Getty Images, chart from Tradingview.com
On June 20, Andre Cronje issued a statement confirming his resignation from the board of Sonic Labs—formerly known as Fantom—aligning with the decentralized tech firm’s earlier public announcement. The statement followed widespread reports and comments that had conflated Cronje’s technical role with Sonic Labs and Fantom’s broader business responsibilities, including token management, migration efforts, and operational decisions. Cronje clarified that Fantom and its core original project predated his involvement entirely. He joined as a technical advisor in 2018 and was only appointed a Fantom director on December 13, 2022. He emphasized he is not the founder of the Fantom company or its original token project; instead, he served as the original technical architect of Fantom’s executable network, later taking on roles as a Fantom board member and Chief Technology Officer (CTO) of Sonic Labs. Cronje noted his informal use of the term “co-founder” to describe his foundational technical contributions was misleading, as it blurred the line between the company’s formal founding and his technical work building the network’s underlying technology. Key to his clarification: Cronje stated he did not design, lead, or execute the FTM-to-S network migration, had no involvement in planning or running the Sonic airdrop, and was not the decision-maker for Sonic’s tokenomics, distribution, emissions schedules, or incentive structures. He added he opposes halting support for the Ethereum ERC-20 version of FTM or shutting down the Opera network, arguing both should remain operational for users. Once the network transition is complete, Cronje will step back entirely from Sonic Labs’ business decisions. Over the past 18 months, his primary focus has been the Flying Tulip project, which he will continue developing moving forward.
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SBI announced it will acquire cryptocurrency trading platform Bitbank for 46.7 billion yen.
According to Nikkei News, Japanese financial group SBI Holdings announced on the 25th that it will acquire cryptocurrency exchange platform bitbank for 46.7 billion yen (approximately $288 million). Upon completion of the transaction, SBI Group’s crypto asset custody scale is expected to exceed 1 trillion yen, making it one of the largest operators in Japan’s crypto industry. Per the plan, a subsidiary under SBI Holdings will acquire Bitbank shares from individual shareholders including its founders as early as August this year. Bitbank will then repurchase shares held by existing shareholders MIXI and Ceres by the end of October. If combining data from SBI’s own crypto exchange SBI VC Trade and Bitbank, as of April this year, the two firms had a total of around 2.92 million accounts and total custody assets of approximately 1.1 trillion yen. While different crypto exchanges disclose custody assets at varying time points, among Japan’s major industry competitors, bitFlyer held about 960 billion yen in custody assets as of the end of December 2025, and Coincheck had around 800 billion yen as of the end of March 2025.
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US Secretary of State Rubio stated, "We will not accept the assertion that the Strait of Hormuz belongs to any country." (Jinshi)
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Iraqi government spokesperson: Efforts are underway to restore full oil export capacity.
A spokesperson for the Iraqi government stated that Iraq is working to restore its full oil export capacity and plans to increase its oil production to 7 million barrels per day in the coming years. (Jinshi)
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Bithumb was fined for sharing user data overseas without consent.
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Analyst: SK Hynix’s US listing and fund-raising could trigger a valuation re-rating.
According to Bloomberg, SK Hynix is set to issue American Depositary Receipts (ADRs) on the Nasdaq on July 10. The listing aims to raise nearly $30 billion, making it one of the largest ADR issuances in history. Market participants widely believe the move will significantly expand its global investor base and may drive a valuation re-rating. Multiple asset management firms project that if its valuation converges with Micron Technology’s, its share price could rise by 30% over the next year. One fund manager noted that SK Hynix should trade at a valuation at least on par with Micron, as demand for memory chips is likely to outpace supply for years to come. The listing comes amid an unusually strong boom in the memory chip sector. Shares of Micron, SK Hynix, and Samsung Electronics have all surged over 200% this year, marking their best annual performance in decades. Demand for High Bandwidth Memory (HBM) from AI servers is widely seen as the driver of a structural "memory supercycle".
2 minutes ago
Jefferies: Samsung is likely to follow SK Hynix’s example to list in the US via ADRs.
Jeff Kim, Head of Research at Jefferies, said Samsung is likely to follow SK Hynix in listing on the U.S. market via American Depositary Receipts (ADRs), which will boost the share price of the South Korean chipmaker whose valuation lags behind Micron. "Chip stocks are at a turning point. ADRs will serve as an important catalyst to drive their valuations," he added.
Sonic Labs Extends Fantom Opera Operations to Year-End, Unveils New Leadership Structure
PANews, June 24 – Sonic Labs announced a series of governance and operational adjustments on the X platform. The Fantom Opera network, originally scheduled to shut down at the end of this month, will now continue operating at least until the end of the year, with the corresponding cross-chain bridge receiving regular funding during this period. This decision was made in response to community feedback. The team also removed the generic “contributor” label and disclosed leadership information: Matt Visser has been appointed CEO, bringing a background in product management and financial restructuring, having co-founded Squire.Law and led Web3 product strategy; Kosta Kourkoumelis has been appointed COO, with over 20 years of experience in financial services and digital assets, and has been involved in the ecosystem since the Fantom IC0. Sonic stated it will begin unfreezing certain accounts and made clear that criticism and questioning will not be blocked, except for threats, targeted harassment, and excessively vulgar content. The team has opened four dedicated contact email addresses to handle sensitive disclosures, technical support, feedback and suggestions, and developer collaboration respectively, and plans to introduce public communication formats such as fireside chats and community Q&A sessions in the future. The team said it will continue to release subsequent updates in a manner of “small steps, fast pace, and open transparency.”Share to:
Author: PA一线
This content is for market information only and is not investment advice.
Follow PANews official accounts, navigate bull and bear markets together
SBI announced it will acquire cryptocurrency trading platform Bitbank for 46.7 billion yen.
According to Nikkei News, Japanese financial group SBI Holdings announced on the 25th that it will acquire cryptocurrency exchange platform bitbank for 46.7 billion yen (approximately $288 million). Upon completion of the transaction, SBI Group’s crypto asset custody scale is expected to exceed 1 trillion yen, making it one of the largest operators in Japan’s crypto industry. Per the plan, a subsidiary under SBI Holdings will acquire Bitbank shares from individual shareholders including its founders as early as August this year. Bitbank will then repurchase shares held by existing shareholders MIXI and Ceres by the end of October. If combining data from SBI’s own crypto exchange SBI VC Trade and Bitbank, as of April this year, the two firms had a total of around 2.92 million accounts and total custody assets of approximately 1.1 trillion yen. While different crypto exchanges disclose custody assets at varying time points, among Japan’s major industry competitors, bitFlyer held about 960 billion yen in custody assets as of the end of December 2025, and Coincheck had around 800 billion yen as of the end of March 2025.
2 minutes ago
Bithumb was fined for sharing user data overseas without consent.
South Korean regulatory authorities have ordered cryptocurrency exchange Bithumb to pay a 210 million won (approximately $136,000) fine for sharing user personal information with overseas platforms without user consent. According to an announcement released Thursday by South Korea’s Personal Information Protection Commission (PIPC), the relevant user data exposure occurred between September and November 2025. At that time, Bithumb transferred user information to overseas platforms while sharing its USDT market order book data. The PIPC also noted that when assisting users with asset transfers to 13 overseas exchanges, Bithumb failed to obtain full and sufficient user consent before sharing personal details including names, wallet addresses, and dates of birth. For the two violations, the PIPC not only imposed the fine but also ordered Bithumb to rectify its processes and management systems related to cross-border transmission of user information.
2 minutes ago
Analyst: SK Hynix’s US listing and fund-raising could trigger a valuation re-rating.
According to Bloomberg, SK Hynix is set to issue American Depositary Receipts (ADRs) on the Nasdaq on July 10. The listing aims to raise nearly $30 billion, making it one of the largest ADR issuances in history. Market participants widely believe the move will significantly expand its global investor base and may drive a valuation re-rating. Multiple asset management firms project that if its valuation converges with Micron Technology’s, its share price could rise by 30% over the next year. One fund manager noted that SK Hynix should trade at a valuation at least on par with Micron, as demand for memory chips is likely to outpace supply for years to come. The listing comes amid an unusually strong boom in the memory chip sector. Shares of Micron, SK Hynix, and Samsung Electronics have all surged over 200% this year, marking their best annual performance in decades. Demand for High Bandwidth Memory (HBM) from AI servers is widely seen as the driver of a structural "memory supercycle".
2 minutes ago
Jefferies: Samsung is likely to follow SK Hynix’s example to list in the US via ADRs.
Jeff Kim, Head of Research at Jefferies, said Samsung is likely to follow SK Hynix in listing on the U.S. market via American Depositary Receipts (ADRs), which will boost the share price of the South Korean chipmaker whose valuation lags behind Micron. "Chip stocks are at a turning point. ADRs will serve as an important catalyst to drive their valuations," he added.
SBI announced it will acquire cryptocurrency trading platform Bitbank for 46.7 billion yen.
According to Nikkei News, Japanese financial group SBI Holdings announced on the 25th that it will acquire cryptocurrency exchange platform bitbank for 46.7 billion yen (approximately $288 million). Upon completion of the transaction, SBI Group’s crypto asset custody scale is expected to exceed 1 trillion yen, making it one of the largest operators in Japan’s crypto industry. Per the plan, a subsidiary under SBI Holdings will acquire Bitbank shares from individual shareholders including its founders as early as August this year. Bitbank will then repurchase shares held by existing shareholders MIXI and Ceres by the end of October. If combining data from SBI’s own crypto exchange SBI VC Trade and Bitbank, as of April this year, the two firms had a total of around 2.92 million accounts and total custody assets of approximately 1.1 trillion yen. While different crypto exchanges disclose custody assets at varying time points, among Japan’s major industry competitors, bitFlyer held about 960 billion yen in custody assets as of the end of December 2025, and Coincheck had around 800 billion yen as of the end of March 2025.
2 minutes ago
Bithumb was fined for sharing user data overseas without consent.
South Korean regulatory authorities have ordered cryptocurrency exchange Bithumb to pay a 210 million won (approximately $136,000) fine for sharing user personal information with overseas platforms without user consent. According to an announcement released Thursday by South Korea’s Personal Information Protection Commission (PIPC), the relevant user data exposure occurred between September and November 2025. At that time, Bithumb transferred user information to overseas platforms while sharing its USDT market order book data. The PIPC also noted that when assisting users with asset transfers to 13 overseas exchanges, Bithumb failed to obtain full and sufficient user consent before sharing personal details including names, wallet addresses, and dates of birth. For the two violations, the PIPC not only imposed the fine but also ordered Bithumb to rectify its processes and management systems related to cross-border transmission of user information.
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Analyst: SK Hynix’s US listing and fund-raising could trigger a valuation re-rating.
According to Bloomberg, SK Hynix is set to issue American Depositary Receipts (ADRs) on the Nasdaq on July 10. The listing aims to raise nearly $30 billion, making it one of the largest ADR issuances in history. Market participants widely believe the move will significantly expand its global investor base and may drive a valuation re-rating. Multiple asset management firms project that if its valuation converges with Micron Technology’s, its share price could rise by 30% over the next year. One fund manager noted that SK Hynix should trade at a valuation at least on par with Micron, as demand for memory chips is likely to outpace supply for years to come. The listing comes amid an unusually strong boom in the memory chip sector. Shares of Micron, SK Hynix, and Samsung Electronics have all surged over 200% this year, marking their best annual performance in decades. Demand for High Bandwidth Memory (HBM) from AI servers is widely seen as the driver of a structural "memory supercycle".
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Jefferies: Samsung is likely to follow SK Hynix’s example to list in the US via ADRs.
Jeff Kim, Head of Research at Jefferies, said Samsung is likely to follow SK Hynix in listing on the U.S. market via American Depositary Receipts (ADRs), which will boost the share price of the South Korean chipmaker whose valuation lags behind Micron. "Chip stocks are at a turning point. ADRs will serve as an important catalyst to drive their valuations," he added.
The tide of centralized identity verification is receding. In Web2, it’s often characterized by users surrendering their personal data to powerful platforms, blind to how it’s utilized, secured, or turned into profit.
However, Web3 is ushering in a new paradigm with revolutionary solutions like Ankr Verify that not only empower users with control over their data but also streamline compliance processes for Web3 projects.
In this exclusive interview with Kev Silk, Senior Product Manager at Ankr, we dove into the intricacies of Ankr Verify and how it’s paving the way for a more secure and user-centric future of Web3.
Can you tell us about yourself and how your journey with Ankr started? Answer: I’ve been involved with blockchain technology since I stumbled upon the Bitcoin white paper in college. The concept of a decentralized currency intrigued me, but it was the underlying technology that truly resonated. As our world becomes increasingly digital, with most transactions happening online, it was clear to me how blockchain could transform imperative industries like finance, real estate and healthcare, but also revolutionize the essence of social contracts.
Kev Silk, Senior Product Manager at Ankr My professional career began at Gartner. While there, I gained insights into the business benefits of blockchain. However, the more I learned, the more I desired to move beyond research and into building within the industry. I wanted to be part of the foundational layer of blockchain, working across various chains and contributing to the development of blockchain infrastructure, which brought me to Ankr. It represented an opportunity to transition from the web2 world to the forefront of blockchain innovation.
If you were asked to describe Ankr quickly, what would you say that encapsulates what Ankr does? Answer: To fully appreciate Ankr’s role and the value we bring to developers, it’s crucial to understand the core need in blockchain development for dependable, high-quality endpoints and connections across diverse chains. This is precisely where Ankr’s expertise lies.
As a globally distributed blockchain infrastructure company, Ankr is dedicated to providing developers with an unmatched building experience. Our fast and secure blockchain infrastructure is the foundation that enables the creation of superior blockchain applications.
We stand as one of the largest providers of RPC node blockchain infrastructure, with our endpoints serving over 50 million unique IPs each month. Our platform supports more than 45 EVM and non-EVM chains and offers a wide array of developer tools, making us a comprehensive resource in the blockchain space.
Central to our business model is the ANKR token, which functions as the primary means of transaction for our customers. Essentially, Ankr is not just a service provider; we are a dynamic hub of tools for developers, playing an instrumental role in driving the growth and evolution of the web3 industry.
Ankr recently announced the release of its newest product, “Ankr Verify.” Can you share more insight on it? Answer: Ankr Verify represents our latest innovation, a blockchain privacy authenticator tool that merges traditional web2 KYC protocols with zero-knowledge user identity verification. Put simply, Ankr Verify empowers blockchain applications to establish specific entry policies that users must satisfy. These policies can range from basic criteria like age and citizenship to more nuanced, tailored requirements such as investor qualifications, educational status, specific certifications, or even proof of activity within the chain the application operates on.
The standout feature of Ankr Verify is its capability to enable users to prove compliance with these policies without revealing extraneous personal information. For example, a user can confirm they meet a minimum age requirement, say being over 18, without having to disclose their exact age to the blockchain application they wish to access. This method prioritizes privacy and security, allowing users to engage with blockchain applications while retaining control over their personal data.
How does Ankr verify work? Answer: Ankr Verify functions through two distinct system flows, catering to both blockchain applications and consumers.
For Blockchain applications:
Apps access the Ankr Verify dashboard using their wallet. They fill out a form with essential information about themselves, such as name and URL. Apps then establish specific KYC/AML requirements for their consumers by creating one or more policies. They specify which policies apply to which blockchain networks. The Ankr Verify dashboard calculates a periodic cost for these services. Apps fulfil this cost periodically through deposits. Once this setup is complete, apps are ready to onboard their consumers. For consumers:
Consumers begin by creating a Digital Identity (DID) through Synaps. On the Synaps UI, they link their wallet address. They input personal information typically required in traditional Web2 KYC protocols, like name, gender, age, and citizenship. This process creates their DID, linked to their wallet address, with the digital identity’s state stored on a smart contract managed by Synaps. With their DID established, consumers can log into the Ankr Verify dashboard using their wallet address, where they can view all credentials forming their current DID state. To prove compliance with a specific app or chain policy, consumers submit a “proof request” via the Ankr Verify Server. For example: If an application requires users to be over 18, consumers can submit a proof request verifying their age. Ankr Verify Servers then verify this proof and validate the public inputs through Synaps’ smart contract. Upon successful verification and validation, the proof is recorded on IPFS for public verifiability, and the account address, policy ID, and CID of the proof are logged on-chain. Once a wallet address has verified a specific policy for one application, it doesn’t need to repeat this process for the same policy. What role does digital identity and authentication play in the Web3 ecosystem Answer: Digital identity and authentication are foundational In the Web3 ecosystem. With the constant use of phones and laptops for internet access, our world increasingly shifts online. In the Web2 environment, every online action contributes to multiple digital profiles. Each platform we interact with compiles its own set of data points, resulting in each individual having several distinct digital profiles. These are controlled and often monetized by the respective platforms, leading to a fragmented and externally-managed digital identity landscape.
A significant shortcoming of the current Web2 environment is how it fragments and externalizes control over these digital profiles. Our data points, spread across various platforms, are used and monetized by these entities. This results in individuals having multiple digital profiles, each controlled and exploited by different platforms for profit.
In contrast, consider the physical world, where each person has one identity that they personally control and manage. Web3 seeks to mirror this in the digital realm, empowering consumers with a consolidated digital identity that they fully control. This digital identity isn’t controlled by any particular platform. Instead, it belongs to the individual, empowering them with complete authority over data access and usage.
Authentication is crucial as it ensures that individuals can verify their identity and access services while maintaining control over their personal information. Ankr Verify plays a vital role in this process. It offers a secure, transparent, and tamper-proof method for users to manage their digital identities. Therefore, Ankr Verify not only enhances user privacy and application security but also empowers users with full control over their digital identities, reshaping our interaction and management of our digital presence.
It’s often said that Web3 mass adoption may not happen unless we make the space safer. What’s your opinion on this? Answer: I would agree that safety is crucial in Web3, and it’s a term that encompasses several vital areas.
Firstly, there’s the need to protect users from obvious dangers like hacks or deceptive schemes such as rug pulls. To address this, we developed Ankr Verify, a tool specifically designed to enhance user safety and build trust in the blockchain environment. It’s crafted to shield users from these risks, ensuring a safer and more reliable experience.
However, safety in Web3 extends beyond just shielding against external threats. A significant challenge with the current internet, Web2, revolves around how companies use and monetize user data. Web3 promises to change this dynamic, offering a framework where users have control over their personal information. But with greater control comes greater responsibility. Ankr Verify steps in here, easing this responsibility while preserving user control. The product enables users to comply with necessary blockchain application entry requirements without giving up information that is not relevant to the policy, ensuring they don’t need to sacrifice personal details for participation.
Another aspect of safety is protecting blockchain applications from malicious users. With Web3 granting more freedom to consumers, it also poses challenges for blockchain applications in protecting themselves. Ankr Verify enables these applications to establish robust policies which protect them and ensure only legitimate, ethical users are on the platform.
Finally, the importance of regulatory compliance is paramount. For Web3 to achieve broad acceptance, blockchain developers must comply with legal requirements like KYC and AML, which vary based on their operational jurisdictions. Ankr Verify is tailored to simplify this compliance process, aiding blockchain applications in efficiently meeting these regulatory needs. This not only ensures a safer Web3 ecosystem but also fosters a more compliant and trustworthy environment for all users.
For privacy reasons, some DeFi users tend to oppose KYC. How does Ankr Verify the balance between privacy and compliance? There will always be DeFi protocols that offer an ungated experience to trading crypto assets, so users will always have those options available to them. However, now users will have the choice of more secure DeFi platforms that verify all user identities to prevent rug pulls, hacks, and other vulnerabilities that have separated thousands of users from their assets in the past. Decentralized apps can choose whether they want to employ the benefits of user authentication for their projects. Ankr Verify enables those users who want enhanced security and safety in the DeFi experience while still achieving the permissionless and private experience that is unique to crypto.
Could you elaborate on the collaboration with Synaps for KYC processes and how this partnership enhances Ankr Verify’s approach to user privacy and compliance? Answer: Our collaboration with Synaps is a cornerstone of Ankr Verify’s commitment to user privacy and compliance. In the absence of a KYC provider like Synaps, Ankr would be forced to store customer data directly. This would contradict our core mission to minimize the exposure of sensitive customer information and reduce the number of entities with access to it.
By partnering with Synaps, and planning to integrate more KYC providers in the future, we ensure that these specialized, trusted, and regulated entities are the only ones to see, verify, or hold user data. This approach significantly enhances user privacy, as the multitude of decentralized apps utilizing Ankr Verify for customer identity verification will never need to directly access or store users’ private information.
Essentially, our partnership with Synaps and other KYC providers means that only organizations dedicated to and regulated for the secure handling of customer data are responsible for its storage. This strategy not only aligns with our commitment to safeguarding user privacy but also ensures strict compliance with data protection regulations, providing a secure and trustworthy environment for both users and developers within the Ankr ecosystem.
How does Ankr Verify enable customizable policy enforcement for businesses and developers within its ecosystem? Answer: Ankr Verify empowers blockchains and application developers within their ecosystems with highly customizable policy enforcement capabilities. Leveraging our KYC partnerships, they have the freedom to select specific criteria about their customers that need to be verified. This can range from basic attributes like age and nationality to more detailed information such as income level or other verifiable personal details.
The versatility of Ankr Verify lies in its ability to adapt to the unique requirements of each chain or application. Blockchains and developers have complete autonomy in determining the type and number of attributes necessary for users to access their applications. This flexibility ensures that each app can tailor its entry requirements to align with its specific needs and regulatory obligations, providing a secure, compliant, and user-friendly environment within the Ankr ecosystem.
IQ.wiki, the biggest crypto and blockchain encyclopedia, has announced its latest collaboration. As per the firm, it is onboarding its IQ GPT Chatbot to the community of Ankr Network. Ankr is a Web3 infrastructure providing platform. The company sees this onboarding as a remarkable step for its further progress.
IQ.wiki Onboards Its IQ GPT Project on Ankr Network It stated that Ankr Network operates as a decentralized platform comprising nodes. It focuses on the provision of cost-effective and flexible links to blockchains. It additionally increases the accessibility of the worldwide cloud infrastructure to facilitate Web3 developers. Ankr runs a Web3 development center with instruments for developing decentralized applications and linking to more than forty-five blockchains.
Prominent customers such as Messari, Binance, Polygon, Optimism, Tencent Cloud, and Microsoft utilize the worldwide node infrastructure of Ankr. It enables them to use the platform’s worldwide node infrastructure to rapidly link to Web3 networks. The company added that Ankr processes a significant 2T blockchain requests per annum. This plays a crucial role in pushing a huge Web3 traffic portion.
The Development Provides Cost Efficiency to Stakers and Developers This pushes the progress toward an additionally user-centric, open, and decentralized internet experience. According to IQ.wiki, Ankr works as a worldwide distributed firm that advances the decentralized internet with the use of DLT. This technology’s use permits it to explore the potential of computing power along with data-resource aggregation. Stakers and developers deploy the resources via cost-efficient data centers.
These facilities assist dApp development as well as deployment along with a balance staking. Apart from this, Ankr has launched a blockchain Neura that artificial intelligence (AI) has created. It gives access to several decentralized GPU-providing parties. This lets builders release and scale artificial intelligence with on-demand, affordable, and flexible compute.
AUTHOR
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.
The price of AAVE has drawn a rare institutional valuation model that places it well above current market levels. Grayscale Research now estimates the DeFi lending token could climb to roughly $175 within a year, conditional on one catalyst: regulatory clarity that opens the gates for tokenized real-world assets inside lending pools. The numbers come from the original report, where Grayscale lays out a fintech-style earnings framework that treats Aave Protocol revenue like a traditional equity — a break from how many crypto investors still price these tokens.
At the time of the analysis, Grayscale pegged Aave’s 2026 revenue at around $60 million and slapped a 20x to 25x multiple on it, producing a current fair value band of $80 to $100. AAVE was trading near that lower bound when the note circulated. That math alone is provocative. A 20x-plus multiple on protocol revenue signals the market may start treating certain DeFi assets less like speculative commodities and more like cash-flow machines. Grayscale drew a direct contrast with Bitcoin, placing AAVE alongside UNI and SKY in a category of crypto assets driven by fee generation, not simple supply and demand narratives.
The Fintech Valuation Framework The pivot to fintech multiples matters. For years, DeFi tokens were valued against total value locked or pure trading volumes. AAVE, the native token of Aave’s lending markets, captures value through fees from borrowing activity and soon through a fee switch that returns protocol earnings to token holders. By applying the same multiple range that public markets assign to payment processors and lending platforms, Grayscale is essentially arguing that Aave functions as a decentralised financial intermediary. That framing—if it gains traction among allocators—could rewrite how institutional desks model protocol tokens.
Revenue visibility is central to that bet. Aave processed roughly $300 billion in cumulative borrow volumes since launch, making it one of the largest unsecured lending protocols on Ethereum and scaling chains. A $60 million annual revenue estimate implies the fee structure is robust even during a period of relatively subdued DeFi yields. Grayscale’s logic is that the base case holds up, while the upside to $175 per token comes entirely from a second wave of collateral entering the system.
The Tokenized Asset Catalyst Tokenized real-world assets have already crossed $20 billion in on-chain value this year, driven by huge institutional moves, as covered in a recent tokenisation roundup. What Grayscale highlights is the jump from tokenised treasury products sitting idle to tokenised assets being used as collateral inside DeFi lending pools. That step requires legal clarity about how such assets are treated during liquidations and in cross-border scenarios. The report’s $175 target lives or dies with that rule-making.
If regulators provide a workable path—something still very much in flux—Aave would be positioned as one of the few battle-tested venues that can handle institutional collateral at scale. Its existing risk framework, modular pool architecture, and deep liquidity on Ethereum Layer 1 and Layer 2 networks lower the friction for asset managers who want exposure without building their own rails. That’s not theoretical: multiple KYC-compliant pools already exist on Aave, ready to accept permissioned tokens once gatekeepers sign off.
Regulation and the Path to $175 Regulation is both the threshold and the tripwire. The US banking lobby is currently aggressively pushing back against landmark crypto legislation just days before a Senate vote, and the outcome of that fight will write the first rulebook for assets that fall between commodities and securities. For Aave’s valuation model, the distinction between a $100 token and a $175 token may hinge on whether stablecoin issuers and asset managers can legally use on-chain lending as a core treasury operation.
There is no grand unification of regulatory timelines, however. The report does not price in any specific bill passage, nor does it assume full-scale institutional adoption in 12 months. Instead, it describes a scenario where enough clarity arrives to unlock the first large pools of tokenised private credit and fund shares inside Aave’s lending market. Even a partial green light from a major jurisdiction—whether the US, EU, or a key Asian hub—could trigger a repricing, because the revenue effect would compound rapidly once idle tokenised assets become productive collateral.
What Remains Uncertain The gap between fintech revenue models and crypto protocol governance is still wide. Aave’s fee switch activation has been a topic of community discussion, but whether token holders capture revenue smoothly depends on technical upgrades and the political balance within Aave’s DAO. The 20x to 25x multiple also assumes stable protocol margins. In reality, lending protocols compete aggressively on rates, and a jump in tokenised collateral might compress yields if supply floods the system faster than borrowing demand rises. Grayscale’s model works as a directional signal, but the shape of the adoption curve is not linear.
There’s also a structural question: whether the market will ever value governance tokens on a pure price-to-earnings basis. So far, DeFi tokens have traded more on sentiment swings and exchange listings than on discounted cash flows. AAVE’s recent price action—alongside moves in tokens like SUI, which surged 18% on institutional demand signals—suggests that bid side interest is shifting toward tokens with tangible revenue or staking mechanics. Still, a sustained repricing would require multiple quarters of protocol earnings matched by transparent distribution.
The Grayscale note does not set a price target in the traditional sense. It marks a probabilistic estimate of fair value if specific conditions materialise. That nuance will be lost on retail traders chasing a $175 figure, but institutional desks are likely to treat it as a scenario framework. For Aave, the next twelve months are essentially a waiting game on the policy front. The protocol’s infrastructure is ready. The market wants to know when the legal side will catch up.
AUTHOR
Max delves deep into the cryptocurrency realm, with a passion for altcoins and NFTs. Convinced of crypto's transformative potential, he envisions a decentralized financial future. Max's background in the financial sector grants him unique insights into global monetary systems. In his leisure, Max embraces the thrill of adventures and is an avid sports enthusiast, finding balance and rejuvenation away from work.
[PRESS RELEASE – Nicosia, Cyprus, June 18th, 2026]
The new engine lets businesses configure and modify crypto, fiat, and crypto-to-fiat payment processes in days instead of weeks, with built-in compliance reporting for every transaction.
FinHarbor, a provider of modular banking and crypto-acquiring infrastructure, has announced the launch of Money Flow, a payment orchestration module that manages the full lifecycle of every transaction on the platform – deposits, withdrawals, transfers, and exchanges across both fiat and crypto rails.
At the core of Money Flow is a set of orchestrators built on Temporal, a workflow engine designed for long-running distributed processes. Each payment operation runs as a stateful process that passes through AML screening, ledger accounting, and final execution in a bank or on a blockchain. If a service restarts mid-operation or an external counterparty takes days to respond, the workflow retains its state and resumes exactly where it stopped. When a response never arrives within the configured window, the system triggers a compensating action or escalates the case to support – funds do not sit in limbo.
The module changes how quickly payment logic can be adjusted. Modifications to an existing process that previously took about a week now ship in roughly a day, and a new process built on existing integrations can go live within days. All flow logic lives in a single service and follows a self-documenting code approach, so developers no longer need to study every subsystem to understand how a given operation works.
The design also shortens the distance between finance leadership and engineering. A CFO can describe a payment process in business terms, and developers translate it into code using a domain-specific language that remains readable to non-technical stakeholders. The result is that finance teams gain direct visibility into how money actually moves through the platform, rather than relying on second-hand descriptions of the logic.
“Payment infrastructure has traditionally been a black box for the people who are ultimately accountable for the money inside it,” said Ilya Podoynitsyn, CEO of FinHarbor. “With Money Flow, a finance director can read the logic of a withdrawal or an exchange almost like a business document, request a change, and see it in production within a day. That changes the conversation between the finance function and engineering.”
Compliance is handled as a dedicated layer within each workflow. AML rules are configured through a visual constructor by compliance officers themselves or by support staff acting on their instructions, depending on team structure. For every payment, the system generates a report that can be provided to a regulator or to the company’s anti-money-laundering officer, giving licensed businesses a documented audit trail across crypto-to-fiat operations.
Money Flow currently supports bank transfer and crypto withdrawals, payouts, pay-ins, exchanges, crypto and wire deposits, internal transfers, and administrative operations, with the list of supported flows expanding as new integrations are added.
“Most of the cost in payment systems comes from change, not from the original build,” Podoynitsyn added. “We designed Money Flow so that change becomes routine – retries, timeouts, and compensations are built into the engine, and teams spend their time on the logic of the business rather than on failure handling.”
The module is available to FinHarbor clients as part of the platform’s core infrastructure.
About FinHarbor
FinHarbor is a technical platform provider for launching compliant, modular financial products – from wallets and neobanks to crypto ramps and OTC desks. Built on years of real-world fintech experience, the platform covers onboarding, compliance, wallets, transactions, cards, and reporting, delivered with a microservice-based architecture (ISO/PCI DSS-certified), a robust API layer, and on-premise or cloud-ready deployment. FinHarbor supports fiat-only, crypto-native, and hybrid business models across markets in Europe, MENA, and beyond.
Key Takeaways General Motors stock hovers near $79.50, climbing more than 40% over five years driven by $30 billion in share buybacks The automaker has produced $53 billion in free cash flow since 2021 while navigating tariffs, EV headwinds, and pandemic challenges First quarter 2026 earnings per share hit $3.70, significantly beating Wall Street’s $2.61 forecast Wall Street consensus rating stands at “Moderate Buy” with a mean price target of $95.65; Citigroup projects $131 A strategic partnership with Lockheed Martin for defense manufacturing was unveiled this week General Motors (GM) is currently changing hands around $79.50, reflecting gains exceeding 40% across the last five years — a performance driven primarily by relentless share repurchases rather than market capitalization expansion.
General Motors Company, GM
From 2021 through today, GM has delivered approximately $53 billion in free cash flow. Roughly $30 billion of those funds went toward buying back about 500 million shares. While the company’s market capitalization has contracted from nearly $100 billion at its late 2021 peak to roughly $75 billion presently, the reduction in outstanding shares has propelled the stock price upward.
The Detroit automaker reported first quarter 2026 earnings of $3.70 per share, handily surpassing the Wall Street consensus of $2.61. Quarterly revenue reached $43.62 billion, marginally above analyst projections. Management’s full-year 2026 guidance points to earnings between $10.62 and $12.62 per share, while the Street expects $12.85.
GM’s free-cash-flow yield currently stands at approximately 14%, dwarfing the S&P 500’s roughly 3%. The shares trade at about 6.5 times projected 2026 earnings, while the broader market commands a 22x multiple.
Wall Street Coverage and Institutional Accumulation Citigroup’s Mike Ward maintains a Buy rating on GM with a $131 price target, suggesting potential upside of approximately 55% from today’s levels. Ward emphasizes that GM’s balance sheet stands on firmer ground than at the exit of any previous economic cycle, and the company now achieves profitability at substantially lower production volumes.
Wall Street’s prevailing view is “Moderate Buy,” with a mean price objective of $95.65. Among the 23 analysts monitored by MarketBeat, 17 recommend Buy, four suggest Hold, one rates it Strong Buy, and one advises Sell.
Institutional ownership has been expanding. Evolve Private Wealth LLC initiated a fresh $13 million stake during the fourth quarter. Additional firms including Bogart Wealth, Tsfg LLC, and Sumitomo Life Insurance expanded their holdings in the same timeframe. Institutional shareholders currently control 92.67% of outstanding shares.
Operating profit for 2025 totaled $12.7 billion, declining from $14.9 billion in 2024. Automotive free cash flow registered $10.6 billion versus $14 billion in the preceding year. Trade tariffs and weak electric vehicle demand represented the primary challenges.
Expanding Into Defense and Grid Infrastructure This week, GM unveiled a partnership with Lockheed Martin focused on enhancing defense manufacturing efficiency. The collaboration marks the automaker’s entry into a new business segment.
GM is also redirecting underutilized EV battery production capacity toward utility-scale energy storage solutions, specifically targeting the artificial intelligence data center sector.
Regarding capital allocation, GM is presently working through a $6 billion share repurchase authorization. The company also increased its quarterly dividend to $0.18 per share from $0.15. Shareholders of record on June 5th received the $0.18 payment on June 18th. The annualized dividend yield sits at roughly 0.9%.
The scheduled July review of the U.S.-Mexico-Canada trade framework represents a key monitoring point for the automotive industry.
TLDR A significant deposit of 600,000 SOL landed on exchanges, sparking supply-side concerns Market watcher Ali Charts highlights $50 as a critical zone to monitor for potential retracements Trader Ardi views the $45–$60 band as a more favorable accumulation opportunity for long-term positions SOL has rebounded from recent bottoms and now faces a test at the $80 resistance threshold Development activity remains robust across payments, prediction markets, and tokenized assets on the Solana network Solana has captured significant market attention following a substantial token transfer to trading venues, prompting analysts to reassess critical price thresholds.
Solana (SOL) Price Crypto market analyst Ali Charts documented a notable event on June 20: approximately 600,000 SOL tokens were transferred to centralized exchanges within a compressed timeframe. Market participants typically scrutinize such sizable exchange deposits as they often precede selling activity or position adjustments by large holders.
Major Token Transfer Highlights $50 Price Zone Ali Charts characterized the sudden surge in exchange-bound tokens as a sign that holders are relocating liquid assets from self-custody solutions. He interpreted this movement as growing uncertainty regarding the sustainability of present valuation levels.
600,000 Solana $SOL were just deposited into trading platforms.
This rapid spike in exchange inflows indicates that market participants are moving liquid supply out of private wallets, signaling rising caution around current price levels.
He further noted that should this influx of spot inventory catalyze a rapid sell-off, the $50 mark represents his primary downside target. According to his assessment, a retracement into this price zone could neutralize near-term selling pressure and establish a more resilient foundation for subsequent upward momentum.
It’s important to recognize that exchange deposits don’t automatically translate to immediate liquidations. Certain transfers serve purposes such as collateralization or platform-internal operations. Market participants are awaiting concrete price action before committing to directional positions.
SOL has staged a recovery from its recent nadirs, climbing back toward the $68 area. This rebound has redirected focus to the $80 resistance barrier, which analysts now identify as the next significant hurdle.
Market Observer Prefers Entry Points Below $60 Crypto trader Ardi has been examining Solana through a historical cycle perspective. He observed that SOL peaked near $295 before entering its current downtrend, and an 80% to 85% retracement from that high would position the asset within the $45–$60 corridor.
$SOL
Solana is slowly entering the area where I'm starting to pay attention for the next cycle.
Last bear market, SOL topped around $260 and eventually bottomed near $8.
Most people quote the full 97% drawdown, but that number was heavily distorted by the FTX collapse and… pic.twitter.com/oh58yseaFy
— Ardi (@ArdiNSC) June 19, 2026
He indicated this price band corresponds with the bottom boundary of his multi-year valuation framework. Ardi has explicitly stated he’s avoiding purchases at present prices, preferring instead to wait for a descent into that support region before establishing long positions.
Ardi also referenced Solana’s previous bear cycle, when the FTX implosion drove SOL down to approximately $8 following an already severe 90% decline from its all-time high. He noted that investors who accumulated near $17 prior to that final capitulation event still realized substantial returns during the subsequent recovery phase.
Technical analysis using Elliott Wave methodology from More Crypto Online suggests SOL may be constructing a higher low formation. Should buying pressure persist, this pattern could facilitate a challenge of the $80 resistance level.
Regarding ecosystem development, prominent Solana community figure Mert emphasized that the network has validated its performance capabilities through years of high-throughput usage. He identified prediction markets, tokenized equities, enterprise-grade payment solutions, and privacy-preserving applications as potential growth vectors for on-chain activity.
According to current market dynamics, the $50 and $80 thresholds remain the two pivotal price zones commanding the greatest attention from active traders.
Dune Analytics has officially integrated Flow, a Layer 1 blockchain tailored for mass-market applications. This addition provides analysts, developers, and investors with comprehensive, queryable on-chain data, enabling deep exploration of consumer DeFi, digital collectibles, and emerging AI-driven use cases.
As of June 18, 2026, the platform now offers access to over 40 million user accounts, alongside key metrics such as stablecoin market capitalization, total value locked (TVL), and various DeFi indicators.
Users can analyze nearly one billion transactions spanning five years of activity from leading consumer-oriented projects.
This includes everyday examples like purchasing collectibles through subway vending machines in Japan, acquiring digital memorabilia such as Darth Vader-themed items, and engaging with advanced yield-generating vaults.
The integration transforms raw blockchain activity into actionable intelligence for understanding real-world adoption patterns.
Flow stands out as a consumer-centric Layer 1 designed to deliver high scalability, robust security, and seamless user experiences essential for widespread adoption.
It supports two complementary virtual machines, both now fully indexed for analysis.
The Cadence programming environment uses a resource-oriented approach to smart contracts.
This model places digital assets directly within individual user accounts instead of relying on centralized contract storage.
As a result, ownership becomes transparent at the protocol level, which enhances security by minimizing potential vulnerabilities in applications.
Complementing this is Flow EVM, a fully Ethereum-compatible environment. Developers can deploy existing Solidity-based contracts using familiar tools like Hardhat, Foundry, or Remix.
Users benefit from straightforward wallet integration, such as connecting MetaMask without additional setup.
Notably, the network allows atomic cross-execution: a single transaction can interact seamlessly across both Cadence and EVM environments, finalizing as one unified operation.
This hybrid design bridges familiarity with innovation.
Flow aims to reshape decentralized finance by prioritizing accessibility.
Upcoming applications, including Peak Money, seek to offer everyday users high-yield savings accounts powered by crypto.
Traditional barriers in DeFi—such as complex risk management and poor usability—are addressed through built-in protocol features.
For instance, scheduled transactions automate recurring actions, liquidation safeguards, and cross-chain operations directly on-chain, reducing dependence on external systems.
The blockchain also positions itself at the forefront of AI integration.
It is the only major Layer 1 with native support for scheduled transactions, allowing smart contracts to run on predetermined timelines.
This enables autonomous agents to handle incremental, multi-step processes efficiently.
Additionally, Cadence’s “capabilities” system provides granular, revocable permissions that control exactly what agents can access or transfer.
These features open doors for sophisticated dashboards that monitor agent behaviors and automated workflows in real time.
Dune’s Flow dataset is organized into several key areas for targeted analysis:
Core Network Metrics: Track transaction volumes, processing speeds, and overall usage across both virtual machines.
DeFi and Consumer Finance: Monitor lending protocols, decentralized exchange activity, vault performance, and broader protocol uptake.
Consumer Application Trends: Examine engagement with popular apps like NBA Top Shot, Disney Pinnacle, and 24Karat, including drop mechanics, transaction behaviors, and user retention indicators.
Economic Indicators: Analyze fee generation, stablecoin movements, TVL fluctuations, and value distribution throughout the ecosystem.
This dataset is now live and ready for exploration. Whether investigating mainstream crypto adoption, evaluating DeFi innovations, or modeling AI agent interactions, Flow‘s data on Dune Analytics now equips stakeholders with unprecedented visibility into a network built for the next wave of on-chain consumer experiences.
TLDR: XRP withdrawal share on Binance reached 53.8% on June 23, the highest since June 2024. Deposit transactions fell to 46.1%, their lowest level in approximately two years. Withdrawals have outpaced deposits for seven straight days since June 17 on Binance. Ripple burned $539M in RLUSD over 30 days, with burns exceeding mints by $129M. XRP withdrawal transactions on Binance have reached their highest share since June 2024, climbing to 53.8% on June 23. Over the same period, deposit transactions fell to 46.1%, their lowest reading in roughly two years.
The gap between the two metrics now stands at 7.7 percentage points, marking a notable shift in XRP transaction behavior on the exchange over the past week.
Withdrawals Hold Control for Seven Consecutive Days The withdrawal dominance on Binance is not a one-day event. XRP withdrawals have outpaced deposits every day since June 17, representing seven straight days of sustained divergence. This streak is the key development distinguishing the current move from routine daily fluctuations.
Source: Cryptoquant
The 7-day withdrawal share of 53.8% recorded on June 23 now stands as the highest level since June 2024. Meanwhile, deposit transaction share at 46.1% reflects its weakest position in approximately two years. The data shows a clear reversal from the pattern seen in prior months.
It is important to note what this metric measures. The figures track the share of deposit and withdrawal transactions, not the total dollar value or volume of XRP moved.
A higher withdrawal share means withdrawal transactions are outnumbering deposit ones — it is not a direct buy-or-sell signal on its own.
Still, the persistence of this trend over a full week gives the data added weight. A single-day spike can often be noise, but seven consecutive days of withdrawal dominance represents a sustained behavioral shift among XRP holders on Binance.
RLUSD Burns and XRP Price Performance Add Context Beyond exchange flow data, Ripple’s RLUSD stablecoin activity has drawn attention over the past month. According to on-chain data shared by validator Vet’s community tracker, Ripple burned $539 million worth of RLUSD over the past 30 days, with burns exceeding mints by more than $129 million during that window.
Ripple Slashes RLUSD Supply In Massive Burn Wave
Ripple has burned $539 million worth of its RLUSD stablecoin over the past 30 days, according to onchain data from validator Vet's community tracker.
Burns exceeded mints by more than $129 million during the same period.
Most… pic.twitter.com/qsWqQoT4y8
— BSCN (@BSCNews) June 23, 2026
Most of the destruction occurred between June 2 and 12, which marked the longest intraday burn streak since RLUSD launched in December 2024.
The single largest burn on record came on June 3, when $75.1 million worth of RLUSD was removed in a single day.
Against this backdrop, XRP is trading at $1.11 at the time of writing. The token recorded a 1.47% decline over the past 24 hours and a 9.43% drop over the past seven days. Trading volume over the same 24-hour period reached $1.37 billion.
Source: Coingecko
The combination of prolonged withdrawal dominance on Binance, declining deposit share, and the broader RLUSD burn activity presents a multi-layered picture of XRP market dynamics heading into late June.
Following new Base58 Labs market-structure research, BASIS says widening cross-venue dispersion is expanding the pool of screened market-neutral opportunities and strengthening dynamic staking reward conditions across BTC, ETH, SOL and PAXG.
Bitcoin remained near the $62,000 region after a sharp May–June drawdown, with realized volatility elevated and venue-level liquidity conditions increasingly fragmented. A new Base58 Labs research report, “Bitcoin Market Structure: Risk-Off Repair and the Execution Gap,” describes the market as a risk-off repair regime rather than a confirmed floor and concludes that stress can widen observable price gaps without making every gap economically tradable.
Against this backdrop, BASIS reports that the recent volatility regime has expanded the number of price-dislocation events entering its screening pipeline. Where those events survive fees, depth, slippage, latency, hedge, settlement and exit filters, they can support stronger Dynamic Reward Rate conditions across supported staking pools. BASIS emphasizes that displayed reward rates are dynamic reference metrics, not fixed or guaranteed returns.
Volatility Is Expanding the Opportunity Set but Execution Still Decides the Outcome
The Base58 Labs report found that Bitcoin entered 23 June near $62.2K after an approximately 21.5% decline within the cited May June event window. The same session covered an intraday range of roughly 5.6%, while one-month realized volatility remained elevated even as options-market stress premiums partially normalized.
In fragmented digital-asset markets, faster repricing can create temporary disagreement between centralized exchanges, decentralized venues, spot markets, derivatives, liquidity pools and settlement states. These differences may appear as larger spreads, but a visible spread is not yet a completed trade.
Base58 Labs defines the difference between an observed gap and a completed, net-positive cycle as the “execution gap.” An opportunity qualifies only after explicit costs and constraints including fees, available depth, slippage, latency drift, hedge cost, settlement reserves and exit certainty have been incorporated.
Base58 Labs execution-gap framework: volatility may widen visible dispersion, while infrastructure determines what remains executable.
BASIS Reports Stronger Dynamic Reward Conditions During the Volatility Regime
BASIS says recent market conditions have produced a broader flow of cross-venue and funding-related dislocations for its execution stack to evaluate. The platform does not treat every price gap as an opportunity. Each candidate path must pass net-executability and risk controls before it can contribute to the reward-generation process.
As a greater number of eligible opportunities clears those filters, BASIS says displayed Dynamic Reward Rate conditions can strengthen relative to quieter periods. The relationship is not mechanical: volatile markets can also reduce usable depth, increase slippage, delay settlement and make safe exits harder. The platform therefore separates opportunity detection from execution eligibility.
This distinction is central to the platform’s positioning. BASIS is not presenting volatility itself as a yield product. It is presenting execution infrastructure as the layer that determines whether market fragmentation can be converted into a bounded, completed outcome.
“Volatility does not create yield on its own. It creates state gaps. Our task is to reject unsafe paths and complete only the cycles that remain net-positive after real execution costs. The recent market has increased the number of opportunities we can evaluate, but discipline not the size of the headline spread remains the core of the system.” Pierre Duval, BASIS spokesperson
Why BASIS Is Drawing Attention in the Crypto Staking Market
The current market has renewed investor interest in yield sources that do not rely exclusively on predicting the next move in Bitcoin or altcoin prices. BASIS supports BTC, ETH, SOL and PAXG through a unified staking environment designed around market-neutral execution, reward accrual, claim, withdrawal and restaking flows.
Users are not required to monitor multiple venues manually, calculate cross-market routes or manage the operational complexity of arbitrage execution. BASIS connects supported assets to an execution-led staking interface while the underlying system evaluates venue-local prices, liquidity, funding conditions and settlement constraints.
As a result, BASIS is gaining attention among users looking beyond conventional validator staking and token-emission incentives. Its proposition is not simply a headline APY, but the infrastructure behind the reward: how opportunities are identified, which paths are rejected, how risk is constrained, and how completed execution is reflected in user-facing reward flows.
Execution Infrastructure, Risk Controls and Operational Reliability
The BASIS execution architecture is built around research and technology developed with Base58 Labs, including the Base58 Hyper-Latency Engine (BHLE). Official documentation describes sub-50-microsecond internal processing targets and capacity above 100,000 operations per second. These figures refer to internal processing targets and do not include venue network round-trip time, exchange matching latency or blockchain finality.
Execution speed is combined with deterministic routing, mathematical exposure limits and state-based risk controls. The BASIS Sentinel Circuit Breaker is designed to restrict or stop new risk-increasing activity when conditions such as venue API failure, abnormal slippage, margin deterioration, settlement deviation or reconciliation failure are detected.
BASIS DIGITAL INFRASTRUCTURE LTD also states that it maintains active ISO/IEC 27001:2022 and ISO/IEC 20000-1:2018 certifications for information-security and IT-service-management systems. These certifications relate to operational management controls and do not constitute a guarantee of investment performance or principal protection.
Research and Platform Observation Are Deliberately Separated
The Base58 Labs report is a secondary-data market-structure brief. It does not use proprietary BASIS execution records, backtests, product-performance data or dashboard DRR/APY readings, and it does not claim that every observed spread was executable. Its role is to define the market regime and the constraints that determine whether execution is economically usable.
BASIS’s statements regarding opportunity flow and dynamic reward conditions are platform-level observations made separately from the research report. This separation is intended to prevent market analysis from being presented as product-performance validation and to keep the distinction between observable dispersion and completed execution explicit.
The Yield Race Is Moving from APY to Infrastructure
The next phase of digital-asset yield is unlikely to be defined by the highest displayed rate alone. Lending, validator staking, liquidity incentives and arbitrage execution generate rewards through different mechanisms and carry different operational risks.
For users and allocators, the more durable questions are becoming structural: What activity produces the return? Which infrastructure executes it? What costs and risks are applied before a path becomes eligible? Can rewards be claimed? Can assets be withdrawn? Can the process continue through restaking?
BASIS argues that the competitive advantage will belong not to systems that display the largest gross spread, but to systems that can reject unsafe paths and complete eligible cycles under adverse conditions.
More information:
• Base58 Labs report
• Explore BASIS
• BASIS documentation
• Base58 Labs Research
About BASIS
BASIS is a market-neutral arbitrage and yield infrastructure platform operated by BASIS DIGITAL INFRASTRUCTURE LTD, an International Business Company registered in Seychelles. Built on Base58 Labs research and execution technology, BASIS supports BTC, ETH, SOL and PAXG through an execution-focused staking environment designed to connect market-structure opportunities with reward accrual, claim, withdrawal and restaking flows.
About Base58 Labs Research
Base58 Labs Research studies market structure, execution systems, digital-asset infrastructure and the operational constraints that determine whether financial outcomes can be completed under real-world conditions. Base58 Labs is the research and technology entity associated with BHLE development and a research partner to BASIS. Its research is affiliated research and should not be interpreted as independent third-party validation of BASIS product performance.
Risk Disclosure
Market-neutral does not mean risk-free. Digital assets and staking involve market, liquidity, execution, counterparty, technology and regulatory risks. Dynamic Reward Rate and APY displays are reference metrics that may change and are not guaranteed returns.
Source Notes
• Base58 Labs Research Bitcoin Market Structure: Risk-Off Repair and the Execution Gap, 23 June 2026
As Bitcoin (CRYPTO: BTC) plunges below $60,000 on Wednesday, K33 Research reports that investment vehicles posted their first negative one-year flow reading since November 2023—a signal that preceded a market bottom the last time it appeared.
The Same Signal Flashed Right Before The 2022 BottomK33 Head of Research Vetle Lunde tracked rolling one-year notional flows across Bitcoin ETPs, futures ETFs, and related vehicles at -1,176 BTC as of June 18.
The only other time this metric went negative was October 21, 2022, just weeks before Bitcoin found its cycle low and roughly a year before flows turned positive again.
Lunde cautioned the comparison isn’t perfect.
The 2020-21 period was dominated by capital locked into Grayscale’s closed-end GBTC structure trading at a discount rather than actual outflows, while 2022’s negative reading came from real redemptions in Canadian and European ETPs plus futures products like BITO.
Global ETP Holdings Just Posted Their Biggest Drawdown EverBitcoin ETPs worldwide now hold 1,466,029 BTC, down 127,774 coins from their peak, an 8% drop that’s the steepest pullback K33 has ever recorded.
The previous worst stretches were 7.1% in February and 5.6% back in April 2025, so this one stands alone.
The good news is that the bleeding has slowed down a lot. Outflows averaged just 625 BTC per day over the past two weeks, a sharp drop from the 4,462 BTC per day pace seen between May 11 and June 5.
Lunde said that slowdown is a big reason Bitcoin’s price has managed to stabilize after the rough stretch in May and June.
Put another way, ETPs still hold 92% of the Bitcoin they held at October’s peak, even after Bitcoin lost half its value. Investors have not exited their positions in large numbers. Instead, they continue to hold through the sharp drawdown.
Strategy’s Preferred Stock Strain Adds Another VariableK33 flagged mounting pressure in Strategy Inc.’s (NASDAQ:MSTR) preferred-share complex, with STRC falling below $90 for the first time since launch and annual dividend obligations now running around $1.7 billion.
Lunde estimated the company holds roughly 10 months of dividend coverage following a recent $300 million capital raise, calling Strategy “far from being forced to sell BTC.”
Bitcoin Sits Below Its Death Cross With Momentum Quietly ImprovingBitcoin remains in a bearish structure, with the 20-day moving average at $63,273 sitting below the 50-day at $71,046, which itself sits below the 200-day at $76,309, the death cross that formed back in November 2025.
With price still well under those longer averages, rallies tend to run into selling pressure rather than turn into real uptrends.
Momentum is improving at the margin, though. MACD has moved above its signal line with a positive histogram, suggesting the selling pressure is easing compared to the prior leg down.
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